What kinds of development activity may Impact Seven pursue with funds secured through NMTC investments?
Impact Seven may finance or provide assistance to a wide range of private business enterprises in Qualifying Low-Income Communities with funds secured through NMTC investments. Examples of qualifying activities include: loans, equity or capital investments; purchase of certain loans made by other CDEs; financial counseling and related services to businesses. The focus of Impact Seven’s NMTC program is the financing of manufacturing facility expansions and start-ups and real estate development and redevelopment projects, while it will consider sound projects of all types in a variety of economic sectors. NMTC may be used to finance community development projects such as community facilities. However, funds derived from NMTCs cannot be utilized in projects which are already subsidized by other federal tax subsidies, with certain exceptions. In the case of mixed use developments, subsidization may be split between uses, allowing NMTC financing for parts of the project.
