New Markets Tax Credits
Uptown Consortium leverages the national New Markets Tax Credits (NMTCs) program to increase community development and economic growth by private investors. As a certified “allocation authority” of these specific credits, Uptown Consortium raises equity capital by offering a 39% reduction in an investor’s federal tax liability over seven years.
Since launching in 2004, the Uptown Consortium has fueled commercial developments to benefit community stakeholders, including the residents of the five Uptown neighborhoods. Their NTMCs have helped them do just that by creating local jobs, energizing economic inclusion and increasing access to local goods and services. Check out the timeline below to see which developments were affected by the Uptown Consortium’s NTMCs.
Learn more about the $20 million investment made to the UC Gardner Neuroscience Institute.