News & Events

News & Events

2.1.2003

Using the New Markets Tax Credit to Finance Affordable Housing – It Is Doable?

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There has been a general impression that the new markets tax credit (NMTC) may not be used to finance housing development. However, while the credit is not available for loans for, or investments in, projects that involve solely residential rental housing, the credit is available for investments in and loans for certain mixed-use projects and certain other types of housing development. This article will review some of the ways in which the NMTC may be used to finance affordable housing in low-income communities.