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Reznick Group Launches Interactive Map for New Markets Tax Credit Program


Online Resource Helps Business and Project Developers Assess Location Eligibility

September 12, 2011 (Bethesda, Md.) – Reznick Group, a top 20 national CPA firm, today announced that it has developed and launched a new online mapping tool created to help potential New Markets Tax Credit (NMTC) Program participants determine the eligibility of a planned project.

The Reznick Group NMTC Interactive Map is designed to be both user-friendly and informative, enabling users to quickly determine if a location is “Highly Distressed/Qualified”, “Qualified” or “Not Qualified” under the stringent eligibility criteria instituted for the NMTC Program.

Established in 2001 by the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund, the NMTC Program provides tax credit allocations to corporations or partnerships, known as Community Development Entities (CDEs), investing in low-income communities. Reznick Group has been active in the New Markets Tax Credit (NMTC) Program since its inception, and is widely recognized as being the leading accounting firm providing financial advisory services to program participants.

The Reznick Group NMTC Interactive Map utilizes the most recent census data, OpenStreetMap graphics, and Google geo-mapping technology, providing users with NMTC program eligibility information based on a business/project street address or U.S. census tract. The map offers eligibility information for locations in all U.S. states and territories, incorporating data for each of the nearly 32,000 tracts identified in the 2000 U.S. census. In addition to the NMTC Program, the mapping tool provides top line eligibility status for two additional CDFI Fund programs: Investment Area and Bank Enterprise Award.

“For businesses or projects needing capital, and thinking about locating in a low-income community, being in a qualified census tract may open the door to aligning with a group with a NMTC award. This, in turn, may make the investment financially viable”, said Gary Perlow, Reznick Group Principal and New Markets Tax Credit Program Leader. “Based on the feedback we’ve received from extensive user testing, we are confident the NMTC Interactive Map meets the critical research needs of project developers wishing to assess potential NMTC Program eligibility in order to move forward.” Perlow added, “Our thanks to the CDFI Fund for their invaluable assistance with this project.”

The NMTC Interactive Map is the newest component of a comprehensive New Markets Tax Credit Program Resource Center launched by Reznick Group on its corporate website earlier this year. Further enhancements to the NMTC Interactive Map, and to the resource center, are currently being planned.

About Reznick Group

Reznick Group is a top 20 national public accounting firm providing accounting, tax and business advisory services to clients nationwide. The firm's industry experience includes affordable housing, financial services, renewable energy, nonprofits, professional services, commercial real estate and technology. For more information, visit www.reznickgroup.com.

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