Affordable homeownership is the cornerstone of intergenerational wealth, economic stability, and community sustainability. However, today’s landscape of for-sale affordable housing stock falls drastically short of meeting the needs of most American families. In June, home prices hit a new record high, just one of countless signs that the housing market remains entirely unaffordable for low- [...]

Since Congress passed the New Markets Tax Credit (NMTC) bill in 2000 to incentivize sustained investments in low-income communities, the program has made a significant and transformative impact in neighborhoods across the United States. In partnership with the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund, which serves to empower economically disadvantaged communities, [...]

Since our founding in 2008, Smith NMTC Associates has been a pioneer in leveraging the federal New Markets Tax Credit (NMTC) program to support the proliferation of affordable for-sale housing across the country. The NMTC program is one example of a federal place-based policy—designed to incentivize sustained, place-based investment in distressed communities—and is considered the [...]

The Smith NMTC Associates team is excited to announce the successful closing of a $25 million New Markets Tax Credit (NMTC) allocation transaction for Community Housing Capital (CHC). CHC deployed the allocation to four NeighborWorks organizations located in Arizona, Florida, Maryland, and Indiana. A Community Development Financial Institution (CDFI) and Community Development Entity (CDE), and [...]

NMTCs for Affordable Homeownership: The CDE Perspective CLICK HERE to watch a recording of the webinar. Affordable homeownership is one of the most pressing needs of our time—join us in learning how CDEs can use their NMTC allocation for homeownership projects! Over 70 NMTC professionals joined us for a conversation about how New Markets Tax [...]

A total of 81 homes are planned to be built by nonprofit developers in California, Georgia, and Kentucky, thanks to an $8 million New Markets Tax Credit (NMTC) loan each to Self-Help Enterprises (SHE) in Visalia, CA and NeighborWorks Columbus in Columbus, GA, and a $5 million NMTC loan to The Housing Partnership, Inc. (HPI) [...]