Can the NMTC be used for housing?
In certain circumstances, NMTC may be used to finance mixed-use projects, where less than 80% of the gross rental income comes from dwelling units. In cases such as this, the Low-Income Housing Tax Credits and New Markets Tax Credits may NOT be used to subsidize the same square foot. NMTC funds may be used to finance businesses that purchase, rehab and sell single family homes by investing in businesses that are involved in affordable housing.
