The Community Development Financial Institutions (CDFI) Fund announced March 14, 2008 that it received a total of 239 applications for the 2008 round of the new markets tax credit (NMTC) program. The CDFI Fund reports that applicants in the sixth round requested an aggregate total of $21,301,795,539 in NTMC allocation authority. A total of $3. 5 billion of allocation authority is available this round. The CDFI Fund anticipates announcing the sixth round of NMTC allocations in October of 2008. Through the first five rounds of the NMTC program, the CDFI Fund has made 294 awards totaling $16 billion in tax credit allocation authority.
For more information, please visit www.cdfifund.gov.
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