US Treasury announces $3.6 billion in New Markets Tax Credit (NMTC) awards to revitalize low-income and distressed communities
Emphasizing the Obama Administration’s focus on economic recovery in distressed areas, U.S. Department of the Treasury’s Deputy Secretary Neal Wolin, joined by U.S. Senator Mary Landrieu, U.S. Representative Cedric Richmond, and Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell, today announced $3.6 billion in New Markets Tax Credit (NMTC) awards nationwide. Speaking on the site of a redeveloped military base, Deputy Secretary Wolin announced the selection of 70 organizations across the country to receive NMTC allocation awards under the most recent program round.
To read the rest of the press release, visit the CDFI Fund website at http://www.cdfifund.gov/news_events/CDFI-2012-01-Treasury-Announces-$3.6-Billion-in-New-Market-Tax-Credit-Awards-to-Revitalize.asp