Urban Action Community Development (UACD) has been awarded $45 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury's CDFI Fund. The NMTC program allows UACD to direct capital to underserved communities nationwide with an emphasis in Arizona, California, Florida, Georgia, Michigan, Ohio, and Texas through financing high-impact, urban projects. This is UACD’s sixth New Market Tax Credit award.  They have received $273 million in funding under the NMTC program since 2007.

"UACD exists to help ensure disadvantaged urban neighborhoods have the capacity for neighborhood transformation through access to flexible capital resources to create sustainable growth where it is most needed. NMTC has proven to be a highly effective and efficient tool to bring critical projects to fruition; to help support our work, vision, and mission; and to improve communities for the lives of urban residents throughout the United States,” said Bill Struever, President of UACD. 

The New Markets Tax Credit was enacted in 2000 in an effort to stimulate private investment and economic growth in low income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, add affordable housing and sustain healthy local economies. The NMTC is a thirty-nine percent federal tax credit that requires investors to leave their capital in projects in distressed communities for seven years. 

Urban Action Community Development is a national Community Development Entity (CDE) that invests in transformational urban neighborhood projects emphasizing technology incubators, education, health care, affordable housing, and fresh food access with innovative delivery strategies in states struggling with industrial flight. UACD is an equal opportunity provider.