The Community Development Financial Institutions Fund in February announced $3.6 billion of New Markets Tax Credits (NMTC) awards to 70 community development entities (CDE) nationwide. The 2011 round of NMTC awards had stiff competition with 314 applications from CDEs around the country and only 22% of these being awarded an allocation.
Allocation amounts ranged from $20 million to $100 million with the average being $51.8 million. 60% of those awarded are CDFIs, nonprofit organizations, governmentally controlled entities, minority owned or controlled entities, or subsidiaries of such organizations. Over a total of nine rounds, $33 billion over 664 allocations have been awarded, including $1 billion being specifically set aside for redevelopment in the aftermath of Hurricane Katrina.
Allocation amounts ranged from $20 million to $100 million with the average being $51.8 million. 60% of those awarded are CDFIs, nonprofit organizations, governmentally controlled entities, minority owned or controlled entities, or subsidiaries of such organizations. Over a total of nine rounds, $33 billion over 664 allocations have been awarded, including $1 billion being specifically set aside for redevelopment in the aftermath of Hurricane Katrina.
See the full list of 2011 allocatees.
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