September 19, 2024 - The Treasury Department Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credit (NMTC) to spur economic and community development in low-income urban and rural communities nationwide. CHC was awarded $40 million in tax credit allocations for the 2023 application round. This announcement brings the total amount awarded to CHC through the NMTC Program to $95 million.
In prior years, CHC received and deployed $55 million in New Markets Tax Credit allocations to NeighborWorks America organizations for affordable for-sale housing projects. With that funding, CHC was able to invest equity into nine NeighborWorks organizations, ranging from $5 million to $8 million in NMTC each.
Click the following link to read more, as well as find the award book identifying the other allocation recipients: cdfifund.gov/news/603