Next NMTC Funding Round Expected to Open in Mid-January
By Caitlin Jones & A. J. Johnson
1 min read
Tax Credit Advisor, January 2009: The Community Development Financial Institutions (CDFI) Fund will likely open the next funding round for the federal new markets tax credit (NMTC) program in mid-January 2009, and release application materials then, CDFI Fund Director Donna Gambrill told a Washington, DC conference on 12/2/08. She said applicants will likely have until April 2009 to turn in applications.
Gambrill noted that organizations not already a community development entity (CDE) that wish to be eligible to apply in the funding round will have until early March 2009 to submit their application to become a certified CDE. She anticipated funding round awards will be announced in early October 2009.
Some $3.5 billion in NMTC investment authority currently is available for the next, seventh funding round.
