The Treasury Department’s Community Development Financial Institutions (CDFI) Fund reported receiving 282 applications under the 2012 round of the New Markets Tax Credit (NMTC) program.
The community development enterprises that applied are headquartered in 44 states, the District of Columbia, and Puerto Rico. The applicants requested a total of $21.9 billion in NMTC authority.
The application deadline was Sept. 12, although applicants affected by Hurricane Isaac were given a limited extension on a case-by-case basis. The CDFI Fund anticipates announcing the organizations that will receive NMTC allocations in early 2013, subject to congressional reauthorization.