NMTC Program Projects Financed Through 2006

May 29, 2008

The CDFI Fund requires all Community Development Entities (CDEs) that receive New Market Tax Credit (NMTC) allocations to provide annual reports detailing how the NMTC proceeds were invested in low-income communities. These reports are provided by CDEs, along with their audited financial statements, within six months of the end of their fiscal years.

Through the FY 2006 reporting period, CDEs disbursed a total of $5,448,054,264 to 1131 different Qualified Active Low-Income Community Businesses (QALICBs) – financing both real estate developments and operating businesses in low-income communities.

• 943 QALICBs (83.38% of total) were located in metropolitan areas. These QALICBs received $4,989,039,902 in NMTC financing (91.57% of total).
• 188 QALICBs (16.62% of total) were located in non-metropolitan areas. These QALICBs received $459,014,362 in NMTC financing (8.43% of total).
• 550 QALICBs (48.63% of total) were "real estate QALICBs", where the principal activity is the development or leasing of real estate. These real estate QALICBs received $3,722,696,891 in NTMC financing (68.33% of total).
• 581 QALICBs (51.37% of total) were "non-real estate QALICBs", or operating businesses. These businesses received $1,725,357,373 in NMTC financing (31.67% of total).

NMTC investments supported a wide variety of projects, including coal companies, charter schools, health care facilities, condominiums, timberlands, religious institutions, child care providers, supermarkets, restaurants, museums, hotels, performing arts centers, pharmacies, convenience stores, manufacturers, processors, distributors, trucking companies, printing companies, waste management companies, sporting goods stores, business incubators, office buildings, shopping centers, substance abuse treatment facilities, car dealerships, florists and recording studios.

A summary report listing all QALICBs financed by CDEs in FY 2006 can be found at FY 2006 NMTC Data. A map of all QALICBs financed by CDEs in FY 2006 can be found at FY 2006 NMTC Data Map.