The New Markets Tax Credit (NMTC) Program has traditionally been a successful tool for providing capital in Indian Country. However, in the last two funding cycles, no tax credit allocations were given to Native Community Development Entities. Reasons highlighted in NAFOA's Summer Policy Report include the competitive nature of the program and the lack of NMTC application reviewers who are well-versed in the complexities of Indian Country.
To ensure that tribal applicants are given a fair review process, we are encouraging individuals who are well-versed in the complexities of Indian Country to respond to the CDFI Fund's call for NMTC application reviewers for the 2014 application round.
For more information about this opportunity and to apply, please click here.
In 2000, Congress established the NMTC Program to spur new or increased investments into operating businesses and real estate projects located in low-income communities. The NMTC program has the potential to significantly increase economic growth in Indian Country by providing an incentive for external investors to provide capital, in exchange for tax credits, to tribal communities.
For any inquiries concerning the NMTC program please contact Kayla Gebeck, kayla@nafoa.org or (202)770-8321.