12.03.2014
Mortgage Bankers looking for a new source of financing for projects located in low and moderate income communities may want to inquire whether financing may be available through participation in the federal New Markets Tax Credit (NMTC) program. Projects that may qualify for such loans include educational facilities, commercial offices and retail centers, mixed use (commercial/residential) properties, community centers, entertainment /cultural facilities, and health-related facilities. This article describes the NMTC program and how an NMTC transaction may assist in funding the acquisition and development of a real estate project in a low or moderate income community.