Christiansburg, VA - On October 20, 2008, the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund announced that Virginia Community Capital (VCC) has been selected to receive a $15 million allocation of tax credits under the sixth round of the New Markets Tax Credit (NMTC) Program.VCC will utilize its NMTC allocation to increase access to health care services in Medically Underserved Areas in rural Virginia by providing financing to community health centers and other medical organizations to acquire, build and/or rehabilitate primary care health clinics. VCC will be working in partnership with the Virgina Health Care Foundation and the Virginia Community Healthcare Association to help create or expand desperately needed health and dental services to uninsured or under-insured individuals with no other access to health care.The CDFI Fund has awarded 70 organizations an aggregate total of $3.5 billion in NMTC allocation authority. Under the current round, the CDFI Fund received applications from 239 entities requesting the authority to issue to their investors the aggregate amount of $21.3 billion in equity as to which NMTCs may be claimed.The NMTC Program permits taxpayers to receive a credit against Federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all of the qualified equity investments must in turn be used by the CDE to provide investments in low-income communities.