As a part of the bill passed by Congress on January 1, 2013, the New Markets Tax Credit (NMTC) Program was extended for 2 years, 2012-2013.The NMTC Program was created in 2000 to encourage the flow of private investments into very low-income communities. Since that time, NMTC investments have generated $45 billion in capital that is improving the nation's most underserved communities, and helping to create or retain hundreds of thousands of jobs and provide low-income residents with access to quality education, health cre, job training, and critical retail services.

Florida Community Loan Fund (FCLF) continues to be the only Florida-based recipient of NMTC Allocation, and has competitively secured a cumulative total of $111 million in NMTC allocation awards. These tax credits have been used to benefit major economic development projects, including:

• 3 charter schools
• 2 health facilities
• 2 human services campuses
• 1 mining reclamation project
• 2 manufacturing facilities

Pictured: Camillus House in Miami

FCLF NMTC projects have created more than 1200 jobs and more than 560,000 square feet of facilities.

FCLF's work in the NMTC Arena has also been featured in a report, The NMTC - At Work In Communities Across America. Click here and look for the Florida projects: Camillus House and Lake Point Restoration.

For more information on the NMTC Program Extension, refer to the NMTC Coalition website.