Reznick Group says it has developed and launched a new online mapping tool created to help potential New Markets Tax Credit (NMTC) program participants determine the eligibility of a planned project.
The Reznick Group NMTC interactive map is designed to enable users to quickly determine if a location is ‘highly distressed/qualified,’ ‘qualified’ or ‘not qualified’ under the stringent eligibility criteria instituted for the NMTC program.
Established in 2001 by the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund, the NMTC program provides tax-credit allocations to corporations or partnerships, known as community development entities, investing in low-income communities.
According to the firm, the interactive map utilizes the most recent census data, OpenStreetMap graphics and Google geo-mapping technology, providing users with NMTC program eligibility information based on a business/project street address or U.S. census tract. The map offers eligibility information for locations in all U.S. states and territories, incorporating data for each of the nearly 32,000 tracts identified in the 2000 U.S. census.
In addition to the NMTC program, the mapping tool provides eligibility status for two additional CDFI Fund programs: investment area and bank enterprise award, the company adds.
To access the map, click here.