Developers, bankers, investors, and government officials interested in community and economic development have an opportunity to learn more about New Market Tax Credit financing.
The District of Columbia Housing Enterprises, a subsidiary of the D.C. Housing Authority, is holding its second annual informational symposium to educate the audience about the tax credits and to identify potential borrowers who may have projects that can qualify for NMTC financing, particularly in Wards 7 and 8.
The seminar will be held on May 4, 2016 at the RISE Demonstration Center located on 2730 Martin Luther King Jr. Ave, S.E. at 8:30 a.m. through 12 p.m.
DCHE, a certified development entity, was established in 2002 to support DCHA’s mission and originates tax credits. DCHE provides gap financing for high impact projects therefore, applicants interested in securing NMTC financing should demonstrate the projects’ need for the NMTC financing and community impacts the projects will create and make accessible to low income persons.
“These tax credits work to invigorate communities. They help bring life to neighborhoods with new services and amenities,” said DCHA Executive Director Adrianne Todman. “Not only do New Markets Tax Credits bring added investments to distressed areas, they also bring jobs to our customers who can then better support their families.”
DCHE has deployed over $75 million in NMTCs and continues to expand its portfolio through outreach efforts such as the NMTC symposium. The day will also include industry leaders such as; Baker Tilly, Wells Fargo, Volunteers of America, Enhanced Capital, and others who will provide insight and up to date information regarding the NMTCs.
Nationwide, $38 billion in direct NMTC investments were made in businesses that were able to leverage the financing into nearly $75 billion in total capital investment to revitalization projects in communities with high rates of poverty and unemployment. The NMTC generated about 750,000 jobs, at a cost to the federal government of less than $20,000 per job.
For more information, please contact Shirley Boubert at (202) 535-1445 or firstname.lastname@example.org.