The NMTC program, administered by the CDFI Fund of the US Treasury Department, uses tax credits to attract private investment to low-income communities. Nonprofit Finance Fund (NFF) has been awarded $231-million in tax credit allocations since 2007, which we are using to make flexible financing available to nonprofit borrowers in these communities. Our allocations have helped finance health centers, a nonprofit theatre, headquarters for social services providers, charter schools, and a statewide food bank, among others.
HOW DO I FIND OUT MORE?
Nonprofits: To see if your project can qualify for NMTC financing, contact your nearest local NFF office [1].
Federally Qualified Health Centers: Learn about our new collaboration with Enterprise and Chase [2] to streamline the NMTC financing process.
NMTC Investors, Leveraged Lenders and other CDEs: If you are interested in partnering with NFF on NMTC deals, please contact your nearest local NFF office [1].
Examples of projects:
NFF partnered with Citibank to help The Worcester Center for Performing Arts (WCPA) undertake a $30 million renovation to transform a historic theatre in downtown Worcester into the Hanover Theatre for the Performing Arts, a new 2,300-seat performing arts space.
A $9 million NFF NMTC investment arrangement allowed The National Consumer Law Center (NCLC), one of the nation's leading resources for information on consumer law, credit practices, and the rights of low-income consumers, announced today a new $9 million tax credit investment arrangement that will enable NCLC to purchase a historic building in downtown Boston. The new NCLC headquarters will allow the organization to expand its staff and dramatically increase its work on behalf of low-income consumers.
NFF partnered with JPMorgan Chase Bank for a $5 million NMTC project to help