This is a pretty important day in the history of Finance Fund. We learned this morning that we have been awarded $50 million in New Markets Tax Credits from the CDFI Fund in the U.S. Department of Treasury. The funding will be used to offer low-interest financing for projects that revitalize both urban and rural low-income communities in Ohio. This is our fifth award of NMTC and by far our largest ever.
This round of New Markets Tax Credit funding enables us to continue to invest in projects that support Ohio’s distressed communities. These projects help stimulate local economies through capital investment, job creation, and community development. You can read more about some of those projects here and here.
Join me in congratulating our team that has spent endless days and nights working on our NMTC application. Kudos to all of them in this successful effort that will benefit all Ohioans.
Tags: CDFI, CDFI Coalition, Community Development Entities, Community Development Finance Institution, Congress, Finance Fund, James Klein, Jobs, Low Income Community, New Markets Tax Credit, NMTC, State of Ohio, stimulus, tax credits, US GAO, US Treasury Department
If I was to buy and remodel/enlarge a child care center how could I receive some of the funds?
Best way to judge eligibility is to call Finance Fund @ 800.959.2333 and talk to a Program Officer.
Thanks for your inquiry!