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CDFI Fund May Extend QEI Deadline Due to Hurricane Sandy


On October 31, 2012, the Community Development Financial Institutions (CDFI) Fund announced that, on a case-by-case basis, it may extend the October 31st qualified equity investment (QEI) deadline for New Markets Tax Credit (NMTC) Program applicants impacted by Hurricane Sandy.
 
To be eligible for an extension, an applicant must demonstrate that it is unable to register its QEIs by October 31st for one of the following reasons:

  • Its principal place of business is located in a county where the Federal Emergency Management Agency (FEMA) has declared a “major disaster” since Oct. 28th
  • Extenuating factors exist that are directly attributable to the conditions in one of the aforementioned FEMA-designated counties


Extension requests must be submitted no later than 5 p.m. Eastern Time on November 5, 2012. If an extension is granted, the CDFI Fund said that it will require applicable QEIs to be recorded and finalized by November 9, 2012.

For more information, visit the CDFI Fund website.

To learn more about CohnReznick and our services, please visit www.cohnreznick.com.

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