New Markets Tax Credits News Briefs – May 2016

Novogradac Journal of Tax Credits Volume 7 Issue 5 Friday, May 6, 2016   The Community Development Financial Institutions (CDFI) Fund on March 10 released an updated frequently asked questions (FAQ) document for fiscal year (FY) 2016 applicants of the Capital Magnet Fund. Updated topics include affordability requirements, using the Capital Magnet Fund with other CDFI Fund programs, providing Capital Magnet Fund funds to limited liability corporations or limited partnerships and other topics. ...

New Markets Tax Credits News Briefs – March 2016

Novogradac Journal of Tax Credits Volume 7 Issue 3 Tuesday, March 8, 2016   National New Markets Fund LLC announced Jan. 7 the closing of $24 million in new markets tax credit (NMTC) financing for the construction of a new manufacturing plant and corporate headquarters for Prairie Dog Pet Products. In addition, JP Morgan is investing $8 million in equity. The development will be located in Abilene, Texas, and will transform an unused 100,000 square-foot industrial building into a state-...

NMTC Extension Eases Minds of Industry Participants

Mark O’Meara, Staff Writer, Novogradac & Company LLP The recent five-year extension of the New Markets Tax Credit (NMTC) program provided an important thing: time. “NMTC stakeholders can be proactive in our long-term goals because we don’t have to dedicate our collective efforts toward the mere survival of the program, ” said National New Markets Fund President Deborah La Franchi. “We have a great opportunity because of the five-year extension. Rather than expending an intensive amo...