NCB Capital Impact Awarded $40 Million in New Markets Tax Credits by Treasury Department!
April 24, 2013
The U.S. Department of the Treasury's CDFI Fund announced today that NCB Capital Impact was awarded $40 million in New Markets Tax Credit (NMTC) allocation. Capital Impact was one of 85 organizations to receive a combined $3.5 billion in allocation nationally. This was Capital Impact's 6th award, increasing the organization's total allocation to $449 million.
"This allocation of New Markets Tax Credits will help Capital Impact build strong, economically vibrant communities," said Terry Simonette, president and CEO of Capital Impact. "This allocation is a critical financing tool to build economic security and new jobs in low-income communities throughout the country. Capital Impact will invest this award into projects that create new community health centers, increase educational opportunities and bring grocery stores to build healthier communities."
Click here for full press release.
Click here for complete list of allocatees.
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