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PUTTING YOUR CAPITAL TO WORK IN UNDERSERVED COMMUNITIES.

 



The New Markets Tax Credit (NMTC) program was created as a component of the Community Renewal Act (CRA) of 2000, a bipartisan legislative initiative of President William Jefferson Clinton and House Speaker Dennis Hastert.

The program allows taxpayers to receive credit against federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Those qualified investments much be used by the CDE to provide investments in low-income communities.


Hampton Roads Ventures has been awarded three allocations of NMTCs; one in 2003, one in 2005 and another in 2007. We were the first organization in Virginia to receive an allocations of NMTC, and the first firm in the country to develop a successful strategy to use NMTC with tax exempt bond financing. We are the only organization headquartered in Virginia and among only a handful in the country to have received more than one allocation.

4Representative Investments

Financing


Tools

New Markets Tax Credits

Visit www.cdfifund.gov for more project information on the U.S. Community Development Financial Institutions Fund and the New Markets Tax Credit Program.

HRV’s NMTC Award History

  1. 2007 | $50 Million (Round V)

  2. 2005 | $35 Million (Round III)

  3. 2003 | $15 Million (Round I)

Only 13 firms have received 3 NMTC allocations.