New Markets Tax Credits

Welcome back to the latest installment of “Get to Know a NMTC Housing Deal,” where we find ourselves in Baltimore, Maryland featuring the efforts of a local and national cast of participants to rehabilitate nearly 90 acres in east Baltimore.

Over the last several years, the east Baltimore development project has used the New Markets

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (“CDFI Fund”) on August 5 released a Notice of Allocation Availability (“NOAA”) for its New Markets Tax Credit (“NMTC”) program in calendar year 2014. The CDFI Fund announced up to $5 billion of NMTC investment authority to be used to spur investment in qualified

This is a new feature of the Ballard Spahr Housing Plus blog.  We’d like to feature housing projects around the country that use the NMTC for a piece of the finance strategy.  This installment finds us in Moss Point, Mississippi.

Hope Enterprise Corporation and Hope Credit Union (HOPE) – an affiliate of NeighborWorks – and

MoneyOn June 5, 2014, the U.S. Department of Treasury Community Development Financial Institution Fund (CDFI) announced that 87 Community Development Entities have been selected to receive $3.5 billion in New Markets Tax Credit (NMTC) awards. A list of the Community Development Entities, the amounts and principal service area to be served can be found on

The Senate Finance Committee is meeting today to mark-up the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act, which is designed to extend certain tax provisions that either expired in 2013 or are set to expire at the end of 2014.

Of particular interest to readers are the proposals that would extend the temporary

On February 26, 2014, House Ways and Means Committee Chairman Dave Camp (R-MI) released a draft legislative proposal for comprehensive tax reform. The proposal would retain the federal low-income housing tax credit (the “LIHTC”), but make fundamental changes to the LIHTC program. Some of the more significant changes include:

  • repealing the 4% LIHTC for tax-exempt