Tax Credit Allocation Brings Dozens of Affordable For-Sale Homes to Low-Income Residents in Georgia and Kentucky Smith NMTC Associates, LLC announces the closing of its most recent New Markets Tax Credit (NMTC) transaction to support the development of affordable for-sale homes in Columbus, Georgia, and Louisville, Kentucky. The Housing Partnership Network, a Community Development Entity, [...]

Every four years, the NMTC Coalition publishes a case study report with NMTC success stories from across the nation. The most recent report, released this December, highlights three Smith NMTC projects – Homewise in New Mexico, ELDI in Pennsylvania, and Sherwood Forest in Missouri. Each of these projects represents how significantly NMTCs impact communities and individual [...]

NAREB (the National Association of Real Estate Brokers) today celebrates 73 years since the organization’s founding. Leading advocacy for Black homeownership in the U.S., NAREB has pursued efforts to close the racial wealth gap by expanding access to the wealth-building opportunity of owning a home. Continued challenge has not deterred NAREB’s commitment and determination; instead, [...]

As the Delmar DivINe transaction closing approaches, there's greater and greater excitement for the project's transformation of St. Louis' notorious 'Delmar Divide.'  This multi-partner project is an enormous-scale investment in re-purposing real estate and re-imagining an area that has a history of 'racial and income stratification.' With significant public-private investment, the area is going to [...]

Smith NMTC is honored to announce that its partner and collaborator, The Housing Partnership Network (HPN), received a $50 million NMTC allocation award in the 2019 round announced on July 15th. Through this round of funding, we look forward to assisting HPN in creating lasting opportunity and sustainable impact for communities and residents in need. With [...]

If you didn't already know that NMTCs can be used for affordable homeownership projects, now is a great time to explore how it's done. Affordable homeownership magnifies the economic impact of the tax credit for both low-income individuals and their communities, creating a permanent equity opportunity that generates higher individual net worth and encourages local [...]

Smith NMTC Associates, LLC announces the closing of its latest New Markets Tax Credit (NMTC) transaction to support the development of affordable for-sale homes with Habitat for Humanity affiliates in Tennessee, Missouri, and Arizona. The deal was structured and closed in partnership with the tax credit investor, U.S. Bancorp Community Development Corporation, and the Community [...]

Over the past week, we have witnessed in awe as communities across the U.S. have turned frustration and agony into momentum that can transform our nation’s future. The pain of injustice is clear. The need to change is urgent. No single policy can correct a history of intentional inequality or address generations of injustice. The [...]

It’s impossible to ignore the sense of dissatisfaction and the despair roiling our communities. Day by day we are witnessing and experiencing growing unrest that is deeply rooted in of the rampant inequality existing in our country for centuries. The innumerable perspectives and political opinions on what is happening in our nation are personal for [...]

Between 2008 and 2018, homeownership rates for African Americans declined in every state but three - Delaware, South Dakota, and Vermont. While there has been recent improvement in overall homeownership rates following the Great Recession, the stark reality is that for minorities, there continues to be an enormous disparity not just in homeownership but in [...]