What We Do
NEW MARKET TAX CREDITS
The New Markets Tax Credits (NMTC) program is a powerful tool used by FCI to help fund nonprofit organizations expand their operations and invest in their local communities. Established by Congress in 2000, the NMTC program was created to provide an opportunity for individual and corporate taxpayers to make investments that stimulate economic development and create jobs in low-income communities.
Specifically, NMTC financing provides borrowers with low-cost, interest-only loans for seven years, typically to build or rehab major community facilities and commercial real estate projects serving low-income communities. FCI is a three-time recipient of $75 million of NMTC; working with other NMTC allocatees and investors, we have funded high-profile, high-cost (more than $5 million) real estate projects in urban and rural communities across Wisconsin.
Due to their complexity, you are encouraged to reach out to us well in advance of getting a “shovel in the ground.” In other words, call us sooner rather than later. FCI can help identify eligible projects and costs and give merit to helping secure an NMTC allocation. We can assist with structuring and underwriting NMTC investments and sourcing and securing non-tax credit equity and debt. We’ll put our expertise behind negotiating and closing NMTC investments, including project management of the closing process involving legal and accounting aspects.
For further information, contact firstname.lastname@example.org. You won’t be sorry!