Revitalization The New Markets Tax Credit Way
In a landscape of reduced local funding and persistent economic challenges, there can be a ray of hope for redevelopment professionals who understand how to access creative financing instruments. From Maine to Hawaii, investment capital is being infused into communities through the little-known New Markets Tax Credit Program (NMTC Program) to revitalize industrial parks, preserve sustainably harvested forests, and attract manufacturing back to rural America. Public service professionals and local leaders are at the forefront of identifying and supporting public-private partnerships and recognizing how the NMTC Program can provide an incentive to invest in projects that might have otherwise been overlooked. These projects demonstrate the ingenuity that managers, redevelopment authorities, elected officials, and state legislators are expending to seed growth and opportunity in their communities…Please click here to read Charlie Spies’ story in PM Magazine.