CDFI Fund Opens 2014 New Markets Tax Credit Program

The Community Devleopment Financial Institutions (CDFI) Fund today released the notice of allocation availability (NOAA) opening the next round of competition under the New Markets Tax Credit (NMTC) program. Electronic applications must be received by 5:00 pm ET on October 1, 2014. Through this NOAA, the CDFI Fund announces the availability of up to $5.0 billion of NMTC investment authority, subject to Congressional authorization. The CDFI Fund will not provide NMTC allocation authority to Applicants that are not certified as CDEs or to entities that are certified as Subsidiary CDEs. If an Applicant that has already been certified as a CDE wishes to change its designated CDE service area, it must submit its request for such change to the CDFI Fund, and the request must be received by the CDFI Fund by 5:00 pm ET on August 22, 2014. The CDFI Fund announced it will conduct two one-hour conference calls to answer applicant questions on Aug. 12 and 14. They further state that, “Applicants must be aware that success in a prior application or allocation round of any of the CDFI Fund’s programs is not indicative of success under this NOAA.”

Learn more on how to qualify and criteria for allocation

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