Developers of projects requiring acquisition, construction, and major rehabilitation of commercial, industrial, community facility, and mixed-use residential developments in low-income communities are eligible for the NMTC program.
Interested applicants should reach out to staff at NYCEDC for a preliminary discussion. In general, projects will be asked to fill out NYCNCC's financing application / intake form. Quality projects will be presented to the NYCNCC Advisory Board and Governing Board for review. If selected, projects go through a 2-3 month closing process.
Selected projects must create quality and accessible jobs, and provide measurable benefits to a low income community in New York City. Projects must also demonstrate financial feasibility, sponsor experience, community support, and a need for public benefits in order to move forward.
Typical projects include (but are not limited to) schools, hospitals and healthcare centers, community facilities, industrial projects and healthy food projects / grocery stores.