October 16, 2022
By Miles Montgomer, Article Posted on October 16, 2022
TV outlet Atlanta News First covers the ribbon cutting for 12Hundred Studios, a low-income affordable apartment complex financed by ASFM
SDS CAPITAL GROUP
1281 Westwood Blvd., Suite 200
Los Angeles, CA 90024
The New Markets Tax Credit (NMTC) program was created in 2000 to stimulate economic growth in rural and low income communities by increasing the availability of private capital. In return, NMTC investors – most often banks – are provided with a tax credit equal to 39% of the total Qualified Equity Investment (QEI) over seven-year period. This tax credit provides anywhere from a 20% to a 25% subsidy to projects. The NMTC program was born of the Community Renewal Tax Relief Act and is under the United States Treasury Department.