Successfully navigating the New Markets Tax Credit (NMTC) program requires access to comprehensive resources that provide education, guidance, connections, and support throughout the complex application process. The right resources can dramatically improve outcomes while reducing costs, timeline, and frustration throughout the United States and its territories. This guide identifies the most valuable resources available and shows applicants how to leverage each strategically for maximum benefit.
Official CDFI Fund Resources
Every applicant’s journey begins with resources provided directly by the Community Development Financial Institutions (CDFI) Fund, the federal agency administering the NMTC program. The CDFI Fund’s official website at cdfifund.gov serves as the central information hub, offering comprehensive program descriptions, the complete list of certified Community Development Entities (CDEs) organized by state, allocation award announcements, and detailed compliance guidance outlining ongoing obligations.
The NMTC Eligibility Mapping Tool represents the single most crucial resource all applicants must use. Access this free online tool through the CDFI Fund website to verify whether specific addresses fall within qualifying low-income census tracts. Generate and save PDF reports from this tool as official documentation proving location eligibility—CDEs require this verification before proceeding with applications.
IRS Tax Credit Resources
Understanding investor and tax perspectives requires access to resources from the Internal Revenue Service (IRS). IRS Publication 4671 titled “N“w Markets Tax Credit” offers a comprehensive explanation of credit claiming procedures for investors, detailed information about Qualified Equity Investment (QEI) requirements, and guidance on the seven-year credit claiming schedule. Form 8874 and its instructions detail how investors claim NMTC on federal tax returns, helping applicants understand the documentation investors need.
Industry Association Resources
Professional associations provide invaluable resources through education, advocacy, and networking. The New Markets Tax Credit Coalition at nmtccoalition.org offers an extensive CDE Directory searchable by geography and sector focus, regular webinars featuring expert presentations on technical topics, the annual NMTC Industry Forum, which brings together hundreds of practitioners, and transaction spotlights showcasing successful deals with detailed case studies.
The Opportunity Finance Network (OFN) represents CDFIs, including many active NMTC CDEs. Access their resources at ofn.org, including a CDFI Locator tool to help identify community development lenders in your region, research publications analyzing community development finance trends, and training programs that build capacity.
Educational Publications
Ongoing education represents a critical resource for building knowledge necessary for informed decision-making. The Novogradac Journal of Tax Credits publishes monthly issues containing detailed articles about NMTC transactions, market analysis, and technical guidance. Law firm white papers and client alerts from major NMTC practices are freely available resources that explain regulatory changes and transaction innovations. Academic research from institutions, including the Urban Institute and Brookings Institution, provides evidence about NMTC program impacts that strengthen community impact narratives in applications.
Data and Mapping Resources
Sophisticated data analysis strengthens applications by documenting community needs and market opportunities. PolicyMap at policymap.com provides comprehensive demographic, economic, and real estate data visualization tools enabling users to create custom maps showing census tract boundaries and NMTC eligibility status, analyze demographic indicators, and generate professional reports documenting community conditions.
The U.S. Census Bureau’s data portal at data.census.gov offers free access to American Community Survey (ACS) data for all census tracts. Download detailed tables showing income, poverty, employment, education, housing, and other variables relevant to demonstrating community need and market opportunity.
The USDA Food Access Research Atlas documents food deserts across America, providing essential resources for applicants developing grocery stores or food retail projects. The Health Resources and Services Administration (HRSA) maintains databases of Health Professional Shortage Areas (HPSAs) and Medically Underserved Areas/Populations (MUAs/MUPs) that healthcare facility applicants use to document healthcare access gaps.
Professional Service Providers
Specialized advisors provide essential resources for navigating complex transactions. NMTC consultants offer comprehensive support from initial assessment through closing, including CDE identification, transaction structuring, application preparation, and process management. Established firms bring extensive experience and CDE relationships that improve sutherobability.
Of success. Legal counsel specializing in NMTC transactions is considered a non-negotiable given the program’s legal complexity. Seek attorneys with substantial NMTC experience who have closed numerous transactions. Quality legal counsel prevents costly mistakes while ensuring transactions close efficiently.
Accounting and financial advisory firms support applicants by preparing financial statements, developing financial projections with realistic assumptions, and providing tax planning, thereby optimizing overall transaction structures. Engage accountants early to ensure financial materials are organized adequately before the CDE contact.
Technology and Networking Resources
Document management platforms like SharePoint, Box, or Dropbox Business help organize the extensive documentation required by NMTC applications. Create structured folder systems for quick responses to CDE information requests.
The annual NMTC Coalition Conference represents the premier networking opportunity bringing together CDEs, investors, applicants, and service providers. Attend educational sessions, participate in networking events, and engage in one-on-one meetings. Many successful NMTC transactions trace their origins to relationships formed at this conference. Regional NMTC forums hosted by state associations and local CDFIs provide targeted networking in specific markets.
Maximize Your NMTC Success
The robust ecosystem of resources for New Market Tax Credits applicants includes official government tools, industry associations, educational publications, data platforms, professional service providers, and networking opportunities that support every phase of the application journey. By strategically leveraging these resources—from initial education through successful closing —applicants dramatically improve their chances of accessing transformative NMTC financing while avoiding costly mistakes.
The investment in utilizing quality resources pays dividends through more favorable terms, efficient processes, and successful outcomes, benefiting both businesses and communities. From the CDFI Fund’s mapping tool to specialized consultants, each resource serves a specific purpose in building comprehensive applications.
Ready to access these essential resources and begin your NMTC journey? Contact CBO Financial today for expert guidance on leveraging the right resources at each stage and navigating the path to successful NMTC financing.