Next City reports, "A grocery store in northwest Detroit, where 70 percent of customers utilize the Supplemental Nutrition Assistance Program (SNAP), or food stamps.

A historic former commercial garage in North Philadelphia turned into mixed-income housing, small business incubator space and a high-quality childcare facility.

A brand-new northeast Washington, D.C., building where 300 adult students annually will receive job training, 30 homeless and low-income families will have affordable housing, an additional 172 homeless and low-income individuals will have affordable housing, and 10,000 women and children per year will have comprehensive medical and dental care.

These are just a few projects that have recently received financing through the New Markets Tax Credit (NMTC) program. The Community Development Financial Institutions Fund just announced $7 billion in NMTCs, the largest single allocation yet. (The CDFI Fund is a Treasury program that focuses on economic revitalization in underserved communities.)"

Read the full article here


Make Headlines

Send us your CDFI news, by email, or by tweet to @OppFinance.


Get updates on the latest news and information at OFN! View an archive of e-newsletters here!

Related Articles