‘We Had No Idea How Much to Ask For’: Twenty Years Later, Memories of First NMTC Allocations

Tuesday, October 3, 2023

A brief history of the early days of the New Markets Tax Credit:

"In early 2003, Bob Rapoza got a call from the Treasury Department.
The first round of new markets tax credit (NMTC) allocations–$2.5 billion worth–would soon be announced by the Community Development Financial Institutions (CDFI) Fund and Rapoza was head of the fledgling New Markets Tax Credit Coalition (NMTCC)."