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CDFI Fund New Markets Tax Credit Press Release


Treasury Announces $3.6 Billion in New Markets Tax Credit Awards
VCC Awarded $20 Million

New Orleans, LA February 23, 2012 --  Emphasizing the Obama Administration’s focus on economic recovery in distressed areas, U.S. Department of the Treasury’s Deputy Secretary Neal Wolin, joined by U.S. Senator Mary Landrieu, U.S. Representative Cedric Richmond, and Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell, today announced $3.6 billion in New Markets Tax Credit (NMTC) awards nationwide. Speaking on the site of a redeveloped military base, Deputy Secretary Wolin announced the selection of 70 organizations across the country to receive NMTC allocation awards under the most recent program round.

Here is a link to the full press release.

2011 NMTC Program Awards information is available by selecting the links below: 

A complete list of the 70 organizations selected and additional information on the NMTC Program can be found on the CDFI Fund’s web site at: http://www.cdfifund.gov.

About Virginia Community Capital:
With offices in Christiansburg, Richmond, and Springfield, Virginia Community Capital (VCC) is dedicated to the prospect of building wealth for all through our lending, deposits, and advisory services. As a community development financial institution (CDFI), our mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs, and encourage sustainable communities. In partnership with our for-profit bank, Community Capital Bank of Virginia (CCB), the non-profit VCC offers loan capital broader and more flexible than bank lending in low-to-moderate income communities in underserved geographies and markets. Learn more at  vacommunitycapital.org.