$60M New Markets Tax Credit Award Will Help Create High-Impact Developments
I am very happy to announce that Enterprise has been awarded $60 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). With this latest allocation, Enterprise has received more than $1 billion in NMTC awards, one of only two organizations to reach this milestone.
Throughout the history of the program, Enterprise has used NMTC investments to finance a broad spectrum of high-impact developments across the country. Just last year, we helped bring a health clinic to a medically underserved community in South Los Angeles. The new 50,000-square foot facility is expected to serve 49,000 patients a year.
We also invested to rehabilitate Lexington Market, a 200-year old food market in the heart of Baltimore. The renovations will help restore one of the city's most iconic structures -- and the oldest market in America -- while creating a modernized home for up to 50 local businesses, including new businesses incubated and launched by the development.
Over 2020 and beyond, Enterprise will continue to use NMTC investments to bring transformative developments to the communities who most need them. Learn more about our NMTC investments.