NMTC Program Projects Financed Through 2009

September 21, 2010

The CDFI Fund requires all Community Development Entities (CDEs) that receive New Markets 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 2009 reporting period, CDEs disbursed a total of $15,830,843,577 in QEI proceeds to 2,955 Qualified Active Low-Income Community Businesses (QALICBs) – financing both real estate developments and operating businesses in low-income communities.

The numbers will be re-posted when the cleansing process is completed for the 2009 data.

• 2,433 QALICBs (82.34% of total) were located in metropolitan areas. These QALICBs received $14,302,476,617 in NMTC financing (90.35% of total).
• 522 QALICBs (17.66% of total) were located in non-metropolitan areas. These QALICBs received $1,528,366,959 in NMTC financing (9.65% of total).
• 1,399 QALICBs (47.34% of total) were “real estate QALICBs,” where the principal activity is the development or leasing of real estate. These real estate QALICBs received $9,973,203,499 in NTMC financing (63.00% of total).
• 1,515 QALICBs (51.27% of total) were “non-real estate QALICBs,” or operating businesses. These businesses received $5,506,170,644 in NMTC financing (34.78% of total).
• 41 QALICBs (1.39%) were loans or investments made through other CDEs. These investments totaled $351,469,434 in NMTC financing (2.22% 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 through FY 2009 can be found at FY 2009 NMTC Data. A map of all QALICBs financed by CDEs through FY 2009 can be found at FY 2009 NMTC Data Map.