NMTC News, Insights & Industry Updates
The Power of Partnership: Reflecting on a year of growth and success.
In 2024, the Smith NMTC team facilitated 5 closings deploying over $63 million in NMTC allocation for 8 projects across 7 states! The success of this past year builds on 16 years of experience in NMTCs. Since 2008, Smith NMTC has deployed over $780M in NMTC allocation to fund 161 projects in over 32 states—including $631.5 million for affordable homeownership that has resulted in over 5,500 homes.
Panel on housing at upcoming Novogradac NMTCs Conference
Carter Work Project site bolstered by $9.25 million New Markets Tax Credit loan
Twin Cities Habitat for Humanity (TCHFH) is the host of this year’s Jimmy & Rosalynn Carter Work Project, which will take place September 29 through October 4 in Minnesota and result in the construction of 30 homes. Twenty-three of the homes will be funded by New Markets Tax Credit (NMTC) loans to TCHFH affiliate Habitat [...]
$60 Million NMTC Allocation awarded to Smith NMTC partner, Housing Partnership Network
The Community Development Financial Institutions (CDFI) Fund has announced the award of $5 billion in New Markets Tax Credit (NMTC) authority for the calendar year 2023 allocation round. The Housing Partnership Network, Inc. (HPN), a Community Development Entity (CDE) partner of Smith NMTC, has received a $60 million NMTC allocation—its largest award to date!—that will [...]
$40 Million NMTC Allocation awarded to Smith NMTC partner, Community Housing Capital
The Community Development Financial Institutions (CDFI) Fund has announced the award of $5 billion in New Markets Tax Credit (NMTC) authority for the calendar year 2023 allocation round. Community Housing Capital (CHC), a Community Development Entity (CDE) partner of Smith NMTC, has received a $40 million NMTC allocation—its largest award to date!—that will support investments [...]
Comparing Use of the New Markets Tax Credit (NMTC) Program for Affordable Homeownership to Other Tax Credits
Access to affordable housing is extremely scarce in the United States. Homeownership is nearly impossible for most low- and middle-income families, with home prices far outpacing family incomes. Without access to affordable homeownership, Americans—particularly Black and brown families—miss out on critical opportunities to build intergenerational wealth, grow neighborhood roots, and experience stronger health outcomes. To [...]
