The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released the 2014 Notice of Allocation Availability (NOAA) for the 2014 Round of up to $5 billion in New Markets Tax Credits, pending Congressional authorization of the Program.
The Community Development Financial Institutions Fund has announced the 87 Community Development Entities who were selected to receive New Markets Tax Credit allocations under the calendar year 2013 round. The New Markets Tax Credit allocations awarded totaled $3.5 billion in tax equity.
Expiration of the renewable energy production tax credit (PTC) at the end of 2013 and the anticipated step-down of the investment tax credit (ITC) from 30 percent to 10 percent after 2016 have set the stage for interesting changes in the renewable energy market, even while the fight to secure the future of these government incentives in discussions of potential tax reform remains in the national spotlight.
A collective $30.5 million in federal New Markets Tax Credits from four Community Development Entities is helping to build a new 142,000-square-foot Clinical Sciences Center for Roswell Park Cancer Institute in Buffalo, N.Y. The $47 million project broke ground last spring and is one of several recent expansions to the Buffalo Niagara Medical Campus, a consortium of medical, research and educational institutions.
A look at how New Markets Tax Credits are making positive impacts in communities nationwide.
Thanks to a coordinated effort involving many partners, Roswell Park Cancer Institute has secured more than $6 million in additional funds toward construction of its Clinical Sciences Center, a 142,000 square foot facility to be used for patient care, research and survivor support services.
Nearly 50 years have passed since Studebaker shut down in South Bend, but the automaker's name still looms large here. It has been vacant for the past eight years, but the building's owner is optimistic about finding a new purpose for it.
SECDE Ventures, LLC is proud to make available a short film in relation to the 2012 New Markets Tax Credits transaction, NOMMA. SECDE is a co-allocatee with DV Community Investments, LLC (Dudley Ventures, LLC) for the NOMMA project.
$3.5 Billion in New Markets Tax Credit (NMTC) Program Awards were announced by the Treasury's Community Development Financial Institutions Fund. 85 community development entities will receive New Markets Tax Credit allocations after being chosen from a total of 282 applicants.