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new markets tax credit program
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New Market Tax Credits (NMTCs) are a federal economic development tool designed to encourage private investment into underserved communities. The NMTCs generate private equity when leveraged with other sources of capital to create flexible financing structures.
CHFA, in partnership with the City of Denver and the Colorado Enterprise Fund (CEF), formed the Colorado Growth and Revitalization (CGR) Fund, LLC, a Community Development Entity. The CGR Fund is committed to deploying its NMTC allocation in a manner that leverages the maximum amount of community impact in low income neighborhoods.
NMTC advantages:- Lower interest rates and long terms
- Favorable loan-to-value limits
- Interest-only payments
Historical impact:
Since 2005, the CGR Fund has used $75 million in NMTCs to help finance projects in underserved communities throughout Colorado. This program has helped create and retain numerous jobs, leveraged public incentives to attract private investment, and assisted in community revitalization for the public benefit.
Starting the process:
Contact Wyatt Jones at 303.297.7341 or email him at
wjones@chfainfo.com for more information. Or, determine if your project is in an
eligible census tract.
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NMTC Partners
Helpful Links
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