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How to obtain New Markets Tax Credits (#NMTC) for your MIXED-USE real estate project.
These can subsidize 15% to 20% of your project's cost.
Background thread:
These can subsidize 15% to 20% of your project's cost.
Background thread:
You'll need to check the following boxes:
1. Location
2. Community Benefit
3. Financing
4. Secure the Tax Credits
1. Location
2. Community Benefit
3. Financing
4. Secure the Tax Credits
Location:
Only economically distressed areas qualify. So, enter your project's address into the mapping tool below. If it's RED, it qualifies.
policymap.com/widget?sid=117…
Only economically distressed areas qualify. So, enter your project's address into the mapping tool below. If it's RED, it qualifies.
policymap.com/widget?sid=117…
New Markets Tax Credits for Dummies (#NMTC)
These tax credits (which are sold for cash) can subsidize 15%-20% of a project's budget
Qualifying projects must be in low income areas and provide a benefit to the community (housing, jobs, healthcare, education, food access etc.)
These tax credits (which are sold for cash) can subsidize 15%-20% of a project's budget
Qualifying projects must be in low income areas and provide a benefit to the community (housing, jobs, healthcare, education, food access etc.)
Here's what the process looks like: 
3. Each year the US Treasury "allocates" or awards these New Market Tax Credits (#NMTC) to Community Development Entities (CDEs).
4. CDEs compete for these tax credits and only 1/3 CDE that applies gets an award in any given year.
4. CDEs compete for these tax credits and only 1/3 CDE that applies gets an award in any given year.
This is the #DemPartyPlatform for 2020. This section is called: Ending Poverty Only one party has a specific plan for ending the scourge of poverty for poor and #WorkingAmericans..the other has a loyalty oath to a corrupt billionaire 1/9
In the wealthiest country on earth, it is a moral abomination that any child could ever go to bed hungry. 2/9 #DemPartyPlatform #EndPoverty #HungerInAmerica
#Democrats will increase funding for food assistance programs, including #SNAP, #WIC, and school meals. We will also remove barriers that keep the formerly incarcerated from accessing food assistance.3/9 #DemPartyPlatform
