$3.5 Billion in New Markets Tax Credit Allocations Awarded

Jennifer A. Vasiloff

On May 23, the Community Development Financial Institutions Fund (CDFI Fund) allocated $3.5 billion in New Market Tax Credits to 73 community development entities (CDEs) through the 2018 round of the New Markets Tax Credit (NMTC) program. Congratulations to all recipients, especially the members of OFN who were awarded $1.29 billion, 37 percent of the total amount allocated! 

  • Black Business Investment Fund, Inc
  • CAHEC New Markets, LLC
  • Cincinnati Development Fund, Inc.
  • Cinnaire New Markets LLC
  • Community Loan Fund of New Jersey, Inc.
  • Corporation for Supportive Housing
  • CV Appalachian CDE, Inc
  • Craft3
  • Dakotas America, LLC
  • Dayton Region New Market Fund, LLC
  • Forward Community Investments, Inc
  • Genesis LA CDE LLC
  • Heartland Renaissance Fund, LLC
  • Hope Enterprise Corporation
  • Invest Detroit CDE
  • Local Initiatives Support Corporation
  • Midwest Minnesota Community Development Corporation
  • Montana Community Development Corporation (MoFi)
  • Nonprofit Finance Fund
  • Ohio Community Development Finance Fund
  • Opportunity Fund Community Development
  • People Incorporated Financial Services
  • PeopleFund NMTC, LLC
  • PIDC Community Capital
  • Raza Development Fund, Inc
  • SB New Markets CDE, LLC
  • South Carolina Community Loan Fund

This 2018 NMTC allocation represents an increase in both the number and dollar amount of OFN member awards compared to the 2017 allocation. Last year, 25 of the 73 CDEs awarded were OFN members, totaling $1.26 billion in allocations, compared to 27 OFN member awardees this year, totaling $1.29 billion in allocations.   

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