Staff outlines New Markets Tax Credit allocation managed by Dallas Development Fund
Staff summarized the New Markets Tax Credit program and said the Dallas Development Fund received an allocation in late December and will evaluate eligible projects; staff clarified that the $55 million figure refers to an allocation announcement but net investor value differs.
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Staff provided an overview of the New Markets Tax Credit (NMTC) program and the Dallas Development Fund's role as the city's community development entity. The deputy director explained NMTC is a Treasury program that awards allocations to community development entities; the Dallas Development Fund received an allocation announced in late December and will solicit and vet projects for awards.
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