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Inner City
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How to Make the Most of $12 Billion in New Market Tax Credits
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Session #: 046-152
Presenter(s): Panel
Session Length: 1:15 hr.
Program: 2006 ULI Fall Meeting
Date: 10-2006
Created at the end of 2000, the New Market Tax Credit (NMTC) Program is the largest federal incentive program to stimulate new commercial and industrial development in inner-cities during the past 30 years. To date, the CDFI Fund has made 170 awards totaling $8 billion in NMTC to leverage significant private investment in pioneering developments across the country. Hear a progress report on how NMTCs are working on the ground, who has received the funds, the types of developments already underway, and how NMTC will be used in the future. Investors and developers will walk through their deals showing the significant financial advantages that NMTC has provided. The panel will also discuss how $1 billion in additional NMTC authority will help stimulate investment in areas damaged by Hurricane Katrina.
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