Commercial Real Estate:
New Markets Tax Credit
Frequently Asked NMTC Questions
Is your project located in an NMTC eligible census tract? Click the image below for an interactive map of eligible areas.
TRF’s NMTC program funds community and economic development projects in low-income areas. Leveraging private-sector equity and loan capital investment, the NMTC program helps finance community development projects, stimulate economic growth and create jobs in areas that most need it.
The following are examples of projects TRF has funded through the NMTC program:
- new mixed-use development that combines retail and residential units, at the edge of the University of Pennsylvania campus in Philadelphia.
- new mixed-use development that combines retail and residential units by North Philadelphia's Temple University.
- charter school in New Jersey
Learn more about TRF’s NMTC projects.
The NMTC Program, established by Congress in December 2000, permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in investment vehicles known as Community Development Entities (CDEs). Substantially all of the taxpayer's investment must in turn be used by the CDE to make qualified investments supporting certain business activities in low-income communities. The credit provided to the investor totals 39 percent of the initial value of the investment and is claimed over a seven-year credit allowance period.
TRF received a $38.5 million New Markets Tax Credit (NMTC) allocation from U.S. Department of the Treasury in 2004 and $75 million NMTC allocations in both 2006 and 2008.
In 2009, TRF received news of a $90 million award in NMTC authority to provide a combination of debt and equity to three project types: charter schools, full service supermarkets and other commercial and mixed use developments in highly distressed communities in the mid-Atlantic region.
For more information about TRF's NMTC program, contact NMTC@trfund.com.