New Markets Tax Credit
New Markets Tax Credit
For 35 years, Community Ventures, a Community Development Entity (CDE) based out of Lexington, has impacted the lives of Kentuckians in economically disadvantaged areas. In the last 14 years, Community Ventures has been able to expand the scope of possible projects through the New Markets Tax Credits (NMTC) program. The program is primarily used to finance real estate, commercial, industrial, and community facility projects.
As one of Kentucky’s only NMTC allocatees, Community Ventures has helped finance and support rural communities and urban environments across the state. NMTC funding targets low-income, poverty-stricken communities in designated census tracts and projects with this funding can subsidize up to 20% of their project’s capital needs.
To apply for New Markets Tax Credits, click here for our application. The application can be mailed or hand delivered to our Main Offices at 1450 N. Broadway in Lexington, KY or sent digitally to nrecord@cvky.org.
To better understand how NMTC funds effectively improve and help our communities, take a look at some of our past projects: