The Project or Operations Must Have Strong Local Support

A Borrower must be able to show that the NMTC financing has and will receive strong local support.  For example, this can be shown by:

• the project, business or nonprofit being part of an economic development plan;
• letters of support from local officials, community leaders, and/or local businesses and nonprofits;
• receipt of governmental subsidies and private sources of capital; and/or
• expected subsequent catalytic investment in the “Low-Income Community” and surrounding areas.

Community Reinvestment Associates:

• interviews governmental officials, community leaders, businesses and residents in the local communities;
• secures other available subsidies;
• determines whether and how the NMTC financing integrates with existing economic development plans;
• assesses, qualifies and quantifies the likelihood of subsequent investment in the LIC and surrounding communities; and
• provides a comprehensive report to support these results and conclusions to our profiled and targeted CDEs and NMTC investors.