A new summary report has been released by the CDFI related to the success of New Markets.
After twenty-five years of law practice, working with clients to bridge financing by using the New Markets Tax Credit (NMTC) Program, is the most rewarding and challenging. Since 2000, and now permanent, “New Markets” provide businesses, developers, and nonprofits with capital at favorable terms to spur investment in economically distressed communities. In short, through tax credit incentives, it fills project financing gaps. Communities benefit from the jobs associated with investments in healthcare, manufacturing, mixed use, community facilities, housing, and public facilities such as health, education, childcare, and commercial development.
A qualifying project can receive 18–23% of the financing it needs in the form of a very low-interest loan that, ultimately, can be forgiven and would not have to be repaid (in certain circumstances). All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit (39% of their original CDE equity stake, which is claimed over a seven-year period).
Native American Bank in Colorado received an award in the double 2024/2025 CY on 12/23/2025 ("Award Round") in the amount of $75 million and focuses on projects serving Native American communities with an emphasis on Reservations. Their 2025 impact report HERE.
Utah's Community Development Finance Alliance received $45 million in the Award Round. A prior NMTC project directly impacted the Moab community with the construction of a campus academic building. HERE.
$10 billion was allocated in the last Award Round. A few other notable allocations are below in our region.
Colorado - Oweesta Corporation ($55M); Colorado Growth and Revitalization Fund, LLC ($90M); Colorado Enterprise Fund, Inc ($85M); Greenline Community Development Fund ($90M); The Rose Urban Green Fund, LLC ($80M)
Nevada - Las Vegas Community Investment Corporation ($40M)
Montana - MoFi (fka Montana Community Development Corporation) ($85M)
Arizona - Phoenix Community Development and Investment Corp ($75M); Prestamos CDFI, LLC ($90M)
I help clients give back to the community, and benefit investors. You can do both.
