8:59 PM
Julio Barreto
The Senate unanimously confirmed Shaun Donovan as Secretary of the Department of Housing and Urban Development (HUD). The Senate acted on the nomination on Thursday, January 22.Treasury Opens Next Round of New Market Tax CreditsThe U.S. Department of the Treasury opened the seventh round of competition for New Market Tax Credits (NMTC) in mid January. The competition will allow for $3.5 billion in tax credit authority to finance a variety of community and economic development initiatives. This year’s allocation will place an emphasis on ensuring investments in underserved rural communities.Equity investments totaling $12.6 billion have been raised by organizations awarded tax credits. In 2007 the amount of loans and investments in low-income communities totaled $9 billion which resulted in...
