New Markets Tax Credit

Is your project located in an NMTC eligible census tract? Click the image below for an interactive map of eligible areas.

TRF’s New Markets Tax Credit (NMTC) program funds community and economic development projects in distressed communities by leveraging private-sector equity and loan capital investment into community development projects to stimulate economic growth and create jobs in the areas that most need it.

To date, TRF has received four NMTC allocations from the U.S. Department of the Treasury. Its most recent award was in 2009 and totaled $90 million. In total, TRF has received $278.5 million in NMTC allocation authority.

TRF’s allocations have provided a combination of debt and equity to three project types, each in highly distressed areas in the mid-Atlantic: charter schools, full service supermarkets, and other commercial and mixed-use developments.

TRF’s NMTC deals work through flexible features such as:

Subordinated debt
Below market interest rates
Lower than standard origination fees
Longer than standard period of interest-only loan payments
Higher than standard loan-to-value ratio
Longer than standard amortization period
More flexible borrower credit standards, and
Lower than standard debt service coverage ratio requirements.

Learn more about TRF’s NMTC projects.

For more information about TRF's NMTC program, contact NMTC@trfund.com.