NMTC allocation application coming soon, what does that mean for you?

If you are starting a new business, building a new community facility or planning a major capital project, the New Markets Tax Credit (NMTC) needs to be on your radar. You can use the NMTC to finance job-creating economic and community development projects. The Travois project map is full of success stories.

Maybe you have connections with one of the communities on this map. Maybe there is someone else who has successfully completed a project like you are considering for your community. We are always happy to connect Travois partners, so reach out if we can be of assistance.

The official dates have not yet been published. But there is a good chance the Community Development Financial Institutions Fund (CDFI Fund) will publish the NMTC allocation application this spring. Watch this space because we will share any news we get on this front. Once the application comes out, community development entities (CDEs) will have about 60 days to put together winning applications. The core of any good application is a great pipeline of projects.

This video can give you a quick refresher on the numbers and key terms at play in an NMTC deal. We made the video a while back so don’t pay attention to the application timeline you’ll see there. But the basic information is still accurate and can help you prep your decision makers for a conversation about NMTC.

The bottom line remains the same. CDEs cannot get NMTC allocations if their applications don’t feature great projects. That means, if you are undertaking a project in 2018 or 2019, you should be in touch with CDEs now. Travois can work with you to make sure you are setting yourself up for success.

If you have a project on the horizon, get in touch with me We can talk about Travois’ nationwide network of partner CDEs and the best way to begin a conversation about the future.