Last week, the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund released a summary report and pubic data for the NMTC program through 2015. According to the report, over 68 percent of NMTC investments made through 2015 have been concentrated in single or mixed-use real estate, health care and social services, manufacturing and education. In addition, the data show that Community Development Entities (the organizations that receive and ultimately invest NMTC awards) go beyond the minimum statutory distress requirements of the NMTC program by committing to serve areas of higher need, and leverage the NMTC to offer financing with flexible or non-traditional rates and terms. This report from the CDFI Fund comes at the same time as leadership in Congress and the Administration propose a tax reform framework that is silent on the NMTC, leaving the program at risk for elimination.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing