NCALL has announced $20 million in new market tax credits from the U.S. Treasury’s CDFI Fund to NCALL Community Investment LLC, a subsidiary of NCALL. The program helps economically distressed communities attract private capital by providing investors with federal tax credits.
“NCALL’s award was one of 76 out of 206 applicants,” said Karen Speakman, NCALL executive director. “We would like to thank all the partners, board members, investors and advisors for your generosity and support. We look forward to continuing to work with all of you and congratulate our fellow NMTC award winners.”
NCALL Community Investment will use the tax credits to support the long-standing mission of NCALL, increasing its impact in the most severely distressed low-income communities on the Delmarva Peninsula. Investments made with the NMTC award will focus on community facilities that provide services to low-income people, businesses that create quality jobs for low income community residents, and projects in rural and urban communities. NCALL Community Investment will offer a variety of flexible terms and low-cost financing options in order to meet these mandates.