Examples of NMTC Investment in a sentence
NMTC Investment ActivityOnce an allocatee signs its allocation agreement and receives its NMTC allocation authority, it may begin soliciting capital from investors.
Table 4.2: Distribution of NMTC Projects by Metropolitan/Nonmetropolitan Location and Allocation Year Allocation Year Share of ProjectsShare of NMTC Investment Amount Metropolitan (%) Nonmetropolita n (%) Metropolitan (%) Nonmetropolit an (%)Year 1 (2002)Source: CIIS 2007 population data.Note: The data in this table reflect the universe of NMTC projects reported in CIIS data as of December 2007.
During the Compliance Period, C&M makes interest-only payments on the loans from the CDEs. The CDEs use the interest payments to pay fees and distribute the remaining proceeds to the NMTC Investment Funds.
At the end of the seven years, Chase Community Equity, LLC (the NMTC investor) has the right under a put/call option agreement to put 100% of its membership interest in the NMTC Investment Fund to the School for a purchase price of $1,000.
In conjunction with the financing arrangements, the Foundation provided a loan of $20,833,437 to the Food Bank NMTC Investment Trust, LLC (an unaffiliated investment structure).
During the year ended June 30, 2014, CASA completed a $12 million transaction (“Transaction”) under federal and state of Florida New Markets Tax Credit Programs (“Program”) with Florida Community New Markets Fund, FCLF Florida NMTC Investment Fund, and Stonehenge Florida NMTC Investment Fund and their affiliates.
If the put right is not exercised by the NMTC investor, the School has the option to purchase 100% of the NMTC investor’s membership interest in the NMTC Investment Fund for its then appraised fair value.
The Transaction resulted in two notes receivable from Stonehenge Florida NMTC Investment Fund and FCLF Florida in the amounts of $2,263,400 and $4,025,000, respectively, and three notes payable to Florida Community New Markets Fund XIV, LLC in the total amount of$11,430,000.
Currently, Willets Point is not currently located in a census tract eligible for New Market Tax Credit (NMTC) Investment.
Authorized NMTC Investment Exceeds $26 BillionSince its inception in 2000, Congress has consistently supported the NMTC, making it one of the largest community development programs in the federal government.