CDFIs help shepherd tax credit projects – such as those supported by the New Markets Tax Credit (NMTC) and Low-Income Housing Tax Credit (LIHTC) – by providing critical financing, structuring expertise, and project oversight that help complex developments move from concept to completion. As mission-driven lenders and investors, CDFIs often serve as intermediaries, developers, or financing partners that assemble capital stacks, manage compliance requirements, and coordinate among investors, community stakeholders, and public agencies. Their participation helps reduce financing gaps, attract private investment, and ensure projects meet program goals, such as expanding economic opportunity in underserved communities or increasing the supply of affordable housing.
Through NMTC projects, CDFIs finance commercial, community facility, and economic development initiatives in low-income areas, while LIHTC projects enable the development and preservation of affordable rental housing. CDFIs bring specialized knowledge of these programs, provide flexible capital, and help navigate regulatory processes, ensuring projects remain financially viable and aligned with community needs. By guiding tax credit investments and supporting long-term project success, CDFIs help deliver essential community infrastructure, create jobs, and expand access to safe, affordable housing.
Annual Impact: CDFIs help shepherd or finance over 400 NMTC and LIHTC projects each year.
Stories from the 2026 Progress Report
American Indian Health and Family Services
- Detroit,
- Michigan
- Capital Impact Partners, IFF
NMTC Financing Expands Health Center
Manufacturing Expansion & Job Creation
- Rock Island,
- Illinois
- Bridge Investment CDC
Leverage Lender Partners with NMTC Loan Pool
NMTC Financing for Railroad Corner
- Orangeburg,
- South Carolina
- National Community Investment Fund
Mixed‑Use Development Near HBCUs
Cotton Mill Apartments
- Cannelton,
- Indiana
- Cinnaire Lending
Historic Mill Revitalized into Affordable Housing
Additional Tax Credit Financing Stories
TERRA Aleutians
- Aleutians,
- Alaska
- Clearinghouse CDFI
TERRA Network is a hybrid terrestrial fiber-optic & microwave network under development by General Communication Inc. (GCI). TERRA brings connectivity to some of Alaska’s most remote regions—delivering access to healthcare, education, and other critical public resources to more than 45,000 Native Alaskans. The TERRA Network is 3,300 miles long—further than Seattle to Miami—and includes both overland and undersea fiber.
Fountains at Millenia
- Orlando,
- Florida
- Neighborhood Lending Partners of Florida
The Fountains at Millenia is a $10MM LIHTC perm loan transaction located in Orlando, Florida. The property is comprised of 162 units. There are six one bedroom/one bath units, 22 two bedroom/two bath units, and 134 three bedroom/two bath units. The property shares amenities with the 214 unit for-sale complex which is adjoining the subject property to the west. The 214 unit for-sale complex offers a clubhouse, gated access, business center, fitness/weight room, swimming pool with cabana, spa, playground and a car wash area.
Argonaut
- Detroit,
- Michigan
- Capital Impact Partners, Enterprise Community Loan Fund, Local Initiatives Support Corporation
An arts and design College and dorm, Charter Middle/High School and business accelerator: Located in downtown Detroit, MI, The Argonaut project converted a historic GM building into a 760,000 sq. ft. mixed-use educational facility. The College of Creative Studies’ expansion campus features educational facilities for undergraduate and graduate programs, residential facilities for up to 300 students and an arts and design middle and high school serving approximately 900 students annually. The project achieves LEED Certification for Existing Buildings, incorporates sustainability features, and may incorporate alternative energy generation once construction is complete. Six NMTC allocatees were involved in the transaction to overcome long-standing development hurdles.
PB Hagerstown
- Hagerstown,
- Maryland
- Partners for the Common Good
PB Hagerstown, LLC, a development team formed to purchase and develop Kilpatrick Woods, requested a $3,800,000 land acquisition and predevelopment loan for a planned 241-unit affordable rental housing LIHTC project in Hagerstown, MD.
CFHC We Care Inc.
- Avon Park,
- Florida
- Florida Community Loan Fund
Central Florida Health Care (CFHC) is a Federally Qualified Health Center (FQHC) that has operated for 42 years in South Central Florida. Founded to provide healthcare primarily for agricultural workers in rural Florida, the organization has expanded to serve 30,000 patients annually across 3 counties; 29% of whom are uninsured. To address the increased demand for its services in Polk and Highlands Counties, CFHC used the New Markets Tax Credit (NMTC) Program to purchase and renovate 4 locations, a total of 48,000 sq ft.
Miami Lighthouse for the Blind and Visually Impaired
- Miami,
- Florida
- Enterprise Community Loan Fund, Popular Community Capital
The NMTC supported a new 5-story 29,284 sq. ft. expansion to an existing building in the Little Havana neighborhood of Miami, FL. The project is the final pillar to the existing 144,000 sq. ft. campus focused on empowering low-income visually impaired individuals. The Lighthouse for the Blind and Visually Impaired takes a multifaceted educational approach to serving students who are blind. Their school, which contains pre-kindergarten, kindergarten, first and second grades, is one component within the Miami Lighthouse’s Children’s Programs. Other Children’s Programs include Early Intervention for Blind Babies and services for elementary and middle school children during the summer, school holidays and Saturdays.
Hudsonville Creamery
- Holland,
- Michigan
- Michigan Community Capital
Michigan Community Capital and other mission-driven partners supported an expansion of Hudsonville Creamery in Holland, Michigan in 2021. The project included construction of 40,000-square-foot new manufacturing space, the renovation of the cold dock, a new cold storage facility and a new production line. Project is located in a NMTC severely distressed census track with poverty rate of 34.8% and unemployment rate of 10.6% (at the time of closing). New employees were immediately eligible for a semi-annual bonus, a comprehensive healthcare plan (medical, dental and vision), a defined contribution benefit plan with a 5% employer match, and paid time off.\r\nHudsonville Creamery prioritizes hiring locally and taps job placement programs such as 70×7 Life Recovery that places hard-to-employ populations into high-quality jobs.\r\nThe company offers significant on-the-job training and educates its workforce on the operation of computer-controlled production equipment as well as Good Manufacturing Practices (“GMP”), which are critical to businesses in the food and beverages industries.
Camillus House
- Miami,
- Florida
- Florida Community Loan Fund
Camillus House has provided services to homeless and at-risk clients in Miami-Dade for 50 years through 12 locations. The organization relocated to the Norwegian Cruise Line Campus of Camillus House, which consists of 7 buildings (3 of which are funded through this NMTC project). This relocation allowed the organization to expand its existing programs which include temporary and transitional housing, job readiness, meals, and mental health services. Camillus House estimates they reach over 10,000 clients annually from the new campus.
Case Study: Brockton Neighborhood Health Center
- Brockton,
- Massachusetts
- Capital Impact Partners
Learn about Reznick Reznick Group's role in the NMTC financing of this low-income community health center. In addition to serving the healthcare needs of Brockton, Mass. residents, it is also the largest employer in the city.