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NMTC Resources Available Via CDFI and CohnReznick


9/29/15

The U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently launched a new website, featuring a variety of improvements. These include a new Impact Blog, which will showcase success stories of how the CDFI Fund’s programs are being used to revitalize low-income communities across the United States of America.
 
While all of the New Markets Tax Credit (NMTC) resources and information from the old website have been carried over and retained on the redesigned website, user navigation to those resource areas is different.
 
For your convenience, CohnReznick has provided links to specific areas of the new CDFI Fund website that are heavily utilized by NMTC program participants. It is our hope that these links will reduce your time in finding the crucial information you need. In addition, we have listed links to key sections of CohnReznick’s NMTC Resource Center on our website for your convenience.
 
CDFI Web Resources

NMTC Summary Page: Provides an overview of the NMTC program and QEI issuance reports, when published.
 
CDE Certification Page: Provides instruction and application materials for organizations to become certified as Community Development Entities (CDEs).
 
Application Materials: Provides materials and timelines for the application process for NMTC awards.
 
Allocation Agreements: Provides templates for allocation agreements and frequently asked questions about allocation agreements.
 
CIMS Mapping System: The CDFI Fund’s information mapping system for determining NMTC eligibility of census tracts and counties.
 
Searchable Award Database: A resource to find organizations, by name or state, which have received awards from the CDFI Fund.
 
Historical Awards Listing: A listing of awards for CDFI Fund programs, which can be filtered by award year, program, and category.
 
CDFI Fund CIIS Portal: Access site to the CDFI Fund’s Community Investment Impact System (CIIS).
 
IRS Reference Documents: A listing of IRS publications, which can be filtered by year, category, and program. This specific hyperlink directs users to NMTC reference documents.
 
Compliance and Reporting Resources: A listing of compliance and reporting documents, including compliance and monitoring frequently asked questions periodically published by the CDFI Fund.
 
Awards Management Information System (AMIS): Now available, replacing myCDFIFund portal. The system will eventually support all CDFI Fund programs through each phase of the programs’ life cycle including certification, program awards and allocations, data analysis, and reporting. Currently the Community Development Entity (CDE) Certification application is online and replaces the former paper-based process. 
 
CohnReznick Web Resources
 
NMTC mapping tool: This online tool can be utilized to quickly research NMTC eligibility of specific census tracts.
 
NMTC Roadmap: Access whitepapers that outline best practices and key steps required to establish a CDE and become involved in the NMTC Program including: Step 1: CDE Certification; Step 2: Allocation Application; Step 3: Allocation Agreement; Step 4: Annual Audit; Step 5: State Tax Requirements and Step 6: Program Compliance.
 
Contact
 
To learn more about CohnReznick’s NMTC services visit the NMTC Resource Center on our website or  please contact Ira Weinstein, Principal, or Scott Szeliga, Partner, at 410-783-4900.

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