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The annual application period has opened for businesses and other organizations that want to invest in distressed communities with the help of federal tax credits. This week, the Community Development Financial Institutions (CDFI) Fund is publishing its Notice of Allocation Availability (NOAA) for the calendar year 2018 round of the New Markets Tax Credit (NMTC) program. The NOAA pertains to a total of $3.5 billion in NMTC authority for this year’s round.…
Much ink has been devoted in recent years to the widening income gap in our country, but as we noted in our January blog, “Rural Development Council Works to Keep Georgia On Your Mind,” geographic disparities since the Great Recession have hit rural and low-income communities in Georgia particularly hard. In yet another proactive move to address this problem, the state has positioned itself to take advantage of the new Qualified Opportunity Zone…