July 14, 2023
The developments are located in census tracts with an average poverty rate of 36% and a 75% average minority population. Read the full article, click below.
By Mike Boyd with Connect CRE, Published July 14, 2023 | 7:05 P.M.
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.