• Operation Food Search to Expand Headquarters with $11 Million New Markets Tax Credit Allocation

    The Smith NMTC Associates team is thrilled to announce the closing of an $11 million New Markets Tax Credit-supported loan for Operation Food Search, Inc. (OFS) to grow its operations. The hunger-fighting nonprofit will increase its programming and impact with the renovation of its Overland, Missouri headquarters to be completed later this year. The St. [...]

  • Our Year in Review: Over $83 Million in New Markets Tax Credits (NMTCs)

    As we hit the ground running in 2024, we want to reflect on the past year and celebrate our organization’s achievements—made possible by the dedication of our partners. Deepening Our Impact on Residential Homeownership In 2023, our team facilitated six closings deploying $83 million in New Markets Tax Credits (NMTCs) allocation to 13 nonprofit housing [...]

  • Smith NMTC Announces Closing of $16M NMTC Allocation to Support Four Habitat For Humanity Projects

    The Smith NMTC Associates team is excited to announce the closing of a $16 million New Markets Tax Credit (NMTC) transaction in support of four different Habitat for Humanity affiliates: Tacoma/Pierce County Habitat for Humanity, Habitat for Humanity of East Jefferson County in Washington, Habitat for Humanity of the Charlotte Region, Inc., and Twin Cities [...]

  • Home Insurance Deserts and Climate Change: A New Challenge

    This summer, State Farm announced that it would not issue any new homeowner policies in the state of California due to the rapidly growing wildfire risk. Within days, Allstate followed suit, confirming that it would stop issuing California homeowner policies due to the high cost of home repairs and reinsurance premiums. These are just two [...]

  • We Need More Homes: Overcoming the Housing Shortage and Production Challenges

    In the United States, the housing supply shortage is a key contributor to a housing affordability crisis. Reports estimate that, in order to keep up with housing demand, the United States needs to build an additional 3.8 million housing units. Numerous factors contribute to the housing shortage—from high construction costs and supply chain issues exacerbated [...]

  • $25 Million NMTC Allocation to Expand Homeownership Opportunities

    Last week, the Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credit (NMTC) awards nationwide. We’re thrilled to announce that our partner, Community Housing Capital (CHC), has been awarded a $25 million NMTC allocation. Since 2020, CHC has employed the NMTC program to support the development of affordable for-sale [...]

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