The CDFI Fund announced NMTC Award recipients for the calendar year 2018. Approximately $2.6 billion of NMTC investment proceeds will likely be used to finance and support businesses in low-income communities, and $809.1 million to finance and support real estate projects in low-income communities.

Arkansas Capital Corporation has once again received $35 million in New Markets Tax Credits. With this latest allocation, Arkansas Capital Corporation has received a total of approximately $300 million in NMTCs. The previous awards have resulted in 1,777 direct jobs and have helped fund over 30 projects.

The Community Development Financial Institutions (CDFI) Fund, part of the U.S. Treasury Department, announced the recipients of $3.5 billion in New Markets Tax Credit (NMTC) allocations. $60 million was allocated to LISC's subsidiary, the New Markets Support Company.

U.S. Reps. Darin LaHood (R-IL) and Mike Kelly (R-PA) introduced the Historic Tax Credit Growth and Opportunity Act to update the federal Historic Tax Credit (HTC), which encourages private investment in historic building preservation around the United States.

Colorado Housing and Finance Authority (CHFA) announced the passing of HB19-1228, which increases the amount of state Affordable Housing Tax Credits available for annual allocation by CHFA from $5 million to $10 million for 2020 through 2024. CHFA is the allocating agency for Colorado's Affordable Housing Tax Credit program.

An $80 million expansion plan was unveiled for South Bend's Century Center. The proposed work on the Century Center itself would cost about $45 million. Revenue sources may include TIF, new markets tax credits, the innkeepers' tax, Indiana opportunity zone funding, Section 108 loan guarantees, and a food and beverage tax.

Several issues are on the radar screen for low-income housing tax credit (LIHTC) investors as they head into the second half of the year. A softening of market-rate rents, potential project delays, and higher interest rates are all being carefully monitored. Although investors feel pretty good about the LIHTC market this year, they're still cautious.

Empire State Development has offered up to $4 million in performance-based Excelsior Tax Credits over ten years, which are directly tied to real job creation. To receive the full incentive, Netflix must create the 127 jobs by 2024 at its new executive production office and then retain those new jobs and their existing 32 office jobs for another five years.

Intro Tax Credit Finance Course
August 13-14, 2019 - Detroit, MI

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The CDFI Fund awarded 73 community development entities $3.5 billion under the 2018 allocation round of the New Markets Tax Credits program. The recipients are located in 35 states also including Puerto Rico and the District of Columbia.

In 2017, Minnesota ranked seventh in the nation for wind power generation and sixth in the nation for solar power generation With the potential for further growth in this sector, many farmers across rural Minnesota are considering whether alternative energy production could be a viable addition to their farming operations.

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