April 27, 2023
By Chery Glaser, KCRW News on KBUU Radio Malibu FM 99.1SHF is on track to finance 30 projects equalling 2,500 PSH units over the next 6 years.
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.