New Market Tax Credits

[Community Development Banking List]

Original message from: nvcdc.mbda@lvcoxmail.com



The capital development company that I work at is applying for NMTC to
better serve our community. Is anyone aware of any technical assistance
available for the application process?

Thanks.





Leonard Hamilton, Procurement Consultant

626 S.9th. Las Vegas, Nevada 89101

Tel (702)382-9522 Fax (702)382-0375

[Community Development Banking List]

Original message from: Keith@crfusa.com



Many CDFIs and CDCs have opted to forego the complicated and highly
competitive process and instead work with existing tax credit allocates.
In our case, many of our lending partners rely on us to provide lower
interest loans (we don't do EQ) in low income communities and funded by
our New Markets Tax Credit investors. In that way, they get the benefits
of the NMTC w/o the hassle of applying for and administering the tax
credit. I'm sure there are NMTC allocates out there who specialize in
equity investments in the same way.



Keith Ford

Community Impact

Community Reinvestment Fund, USA

801 Nicollet Mall, Suite 1700W

Minneapolis MN 55402

Direct: 612-305-2087

Fax: 612-338-3236

www.crfusa.com <mailto:keith@crfusa.com>



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From: bounce-3230011-4990360@list.cornell.edu
[mailto:bounce-3230011-4990360@list.cornell.edu] On Behalf Of Leonard
Hamilton
Sent: Tuesday, October 28, 2008 5:51 PM
To: communitydevelopmentbanking-l@cornell.edu
Subject: New Market Tax Credits



The capital development company that I work at is applying for NMTC to
better serve our community. Is anyone aware of any technical assistance
available for the application process?

Thanks.





Leonard Hamilton, Procurement Consultant

626 S.9th. Las Vegas, Nevada 89101

Tel (702)382-9522 Fax (702)382-0375











CDB list instructions http://www.runonthebank.net/cdblist.htm ('http://www.runonthebank.net/cdblist.htm')


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[Community Development Banking List]

Original message from: Development@commfirstfund.org



Our experience is similar to Mr. Ford's. We had applied several years
ago for NMTC but were not successful. This past year we were one of two
organizations to receive a share of an allocatee's tax credits for local
efforts. The latest round of awards, however, seems to indicate a good
number of CDFI's and CDC's were successful applicants. It may be time
to try again.

MacDonald Stacks

Development Department

Community First Fund

PO Box 524

30 West Orange Street

Lancaster, PA 17608-0524

717 393-2351, ext 103

717 393-1757 (fax)

http://www.commfirstfund.org ('http://www.commfirstfund.org')









________________________________

From: bounce-3234179-9115767@list.cornell.edu
[mailto:bounce-3234179-9115767@list.cornell.edu] On Behalf Of Keith Ford
Sent: Wednesday, October 29, 2008 11:15 AM
To: Leonard Hamilton; communitydevelopmentbanking-l@cornell.edu
Subject: RE: New Market Tax Credits



Many CDFIs and CDCs have opted to forego the complicated and highly
competitive process and instead work with existing tax credit allocates.
In our case, many of our lending partners rely on us to provide lower
interest loans (we don't do EQ) in low income communities and funded by
our New Markets Tax Credit investors. In that way, they get the benefits
of the NMTC w/o the hassle of applying for and administering the tax
credit. I'm sure there are NMTC allocates out there who specialize in
equity investments in the same way.



Keith Ford

Community Impact

Community Reinvestment Fund, USA

801 Nicollet Mall, Suite 1700W

Minneapolis MN 55402

Direct: 612-305-2087

Fax: 612-338-3236

<mailto:keith@crfusa.com> www.crfusa.com



Please consider the environment before printing this email. Thank you.

From: bounce-3230011-4990360@list.cornell.edu
[mailto:bounce-3230011-4990360@list.cornell.edu] On Behalf Of Leonard
Hamilton
Sent: Tuesday, October 28, 2008 5:51 PM
To: communitydevelopmentbanking-l@cornell.edu
Subject: New Market Tax Credits



The capital development company that I work at is applying for NMTC to
better serve our community. Is anyone aware of any technical assistance
available for the application process?

Thanks.





Leonard Hamilton, Procurement Consultant

626 S.9th. Las Vegas, Nevada 89101

Tel (702)382-9522 Fax (702)382-0375











CDB list instructions http://www.runonthebank.net/cdblist.htm ('http://www.runonthebank.net/cdblist.htm')


__________________________________________________ ____________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email ('http://www.messagelabs.com/email')
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