NMTC Program Projects Financed Through 2007

December 2, 2008

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

Through the FY 2007 reporting period, CDEs disbursed a total of $8,958,916,274 in QEI proceeds to 1,981 different Qualified Active Low-Income Community Businesses (QALICBs) – financing both real estate developments and operating businesses in low-income communities.

• 1,634 QALICBs (82.50% of total) were located in metropolitan areas. These QALICBs received $8,113,085,940 in NMTC financing (90.56% of total).
• 347 QALICBs (17.50% of total) were located in non-metropolitan areas. These QALICBs received $845,830,334 in NMTC financing (9.44% of total).
• 960 QALICBs (48.46% of total) were “real estate QALICBs,” where the principal activity is the development or leasing of real estate. These real estate QALICBs received $5,992,160,903 in NTMC financing (66.88% of total).
• 1,021 QALICBs (51.54% of total) were “non-real estate QALICBs,” or operating businesses. These businesses received $2,966,755,371 in NMTC financing (33.12% of total).

NMTC QEI investments supported a wide variety of projects including, among others, charter schools, health care facilities, condominiums, timberlands, child care providers, supermarkets, restaurants, museums, hotels, performing arts centers, pharmacies, convenience stores, manufacturers, processors, distributors, trucking companies, printing companies, waste management companies, energy 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 2007 can be found at FY 2007 NMTC Data. A map of all QALICBs financed by CDEs in FY 2007 can be found at FY 2007 NMTC Data Map.