OFN Members Receive $1.5 Billion in New Markets Tax Credit Allocations
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The latest round of tax credit allocations announced last week included 29 OFN member CDFIs.
OFN congratulates the 102 community development entities that received New Markets Tax Credit (NMTC) allocations totaling $5 billion, announced last week by the CDFI Fund. Overall, CDFIs received $1.86 billion of the total allocation, and 36% of all recipients were CDFIs. In particular, OFN recognizes the 29 member CDFIs that received 30% of the NMTC allocations totaling $1.5 billion:
- Black Business Investment Fund
- BlueHub Capital, Inc.
- CEI Capital Management, LLC
- Cinnaire Lending Corporation
- Civic Community Partners, Inc.
- Clearinghouse CDFI
- Cleveland New Markets Investment Fund II, LLC
- Colorado Enterprise Fund
- Community First Fund
- Community Housing Capital, Inc.
- Corporation for Supportive Housing (CSH)
- Empowerment Reinvestment Fund, LLC
- Florida Community Loan Fund, Inc.
- Genesis LA CDE, LLC
- Habitat for Humanity NMTC, LLC – (Habitat Mortgage Solutions, LLC*)
- Heartland Renaissance Fund, LLC
- HEDC New Markets, Inc.
- IFF
- Invest Detroit CDE
- Michigan Community Capital – (Magnet Lending Corporation*)
- Montana Community Development Corporation
- National Community Investment Fund
- Partners for the Common Good
- Pathway Lending CDE, LLC
- PeopleFund NMTC, LLC
- Prestamos CDFI, LLC
- Raza Development Fund, Inc.
- Self-Help Ventures Fund
- South Carolina Community Loan Fund
Note: *OFN member is an affiliate.
The NMTC program is set to expire on December 31, 2025. The New Markets Tax Credit Extension Act of 2023, which would make the NMTC program permanent and index the annual allocation to inflation, was introduced in the House and Senate earlier this year. These bills (H.R. 2539 and S. 234) have bipartisan support in both chambers and OFN will continue to advocate to make the NMTC permanent.
Go to OFN’s Policy Action Center today to contact your elected officials in support of making the NMTC program permanent!
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