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
NMTC Financing for Railroad Corner
- Orangeburg,
- South Carolina
- National Community Investment Fund
- New Markets Tax Credit, Progress Report, Tax Credits
Mixed‑Use Development Near HBCUs
Cotton Mill Apartments
- Cannelton,
- Indiana
- Cinnaire Lending
- Affordable Housing, Progress Report, Tax Credits
Historic Mill Revitalized into Affordable Housing
American Indian Health and Family Services
- Detroit,
- Michigan
- Capital Impact Partners, IFF
- Healthcare, New Markets Tax Credit, Progress Report, Tax Credits
NMTC Financing Expands Health Center
Manufacturing Expansion & Job Creation
- Rock Island,
- Illinois
- Bridge Investment CDC
- Manufacturing, New Markets Tax Credit, Progress Report, Tax Credits
Leverage Lender Partners with NMTC Loan Pool
Additional Tax Credit Financing Stories
CFHC We Care Inc.
- Avon Park,
- Florida
- Florida Community Loan Fund
- New Markets Tax Credit, Rural, Tax Credits
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.
Hitchcock’s Market
- Old Town,
- Florida
- Florida Community Loan Fund
- New Markets Tax Credit, Rural, Tax Credits
CDFI Florida Community Loan Fund and others partnered with Hitchcock's Market to provide financing for expansion of its grocery store in Old Town, Florida. The location is recognized as a Food Desert by the USDA in this rural town, which is about an hour outside of Gainesville. Using the New Markets Tax Credit (NMTC) Program will enable Hitchcock's Market to double the size of its current store, serving up to 50% more area residents, employing 40 to 50 when completed, and creating an estimated 120 temporary construction jobs.
The Ribbon
- Detroit,
- Michigan
- Invest Detroit
- Loan Fund, Minority-Owned Business, New Markets Tax Credit, Tax Credits
Invest Detroit borrower success story
Artspace Commons North
- Salt Lake City,
- Utah
- Enterprise Community Loan Fund
- Mixed w/ Community, New Markets Tax Credit, Tax Credits
Artspace Commons North is a green, mixed-use artist community in downtown Salt Lake City, Utah. The development offers 102 affordable rent-to-own apartments and 53,000 sq. ft. of commercial space for offices, art galleries, studios and retail, on the site of a former scrap metal recycling facility. The development involved construction of a three-level commercial building with perimeter parking and an interior courtyard, and a four-story mixed-use building that houses commercial space on the ground floor and residences on the upper floors. Apartments are affordable to households earning up to 70 percent of area median income (AMI). At the end of the seven-year NMTC compliance period, the apartments will be sold as condominiums affordable to households earning up to 80 percent of AMI, with current residents having right of first refusal.
HōM Flats
- Holland,
- Michigan
- Michigan Community Capital
- Affordable Housing, LIHTC, Tax Credits
Michigan Community Capital provided a predevelopment loan in 2021 to Magnus Capital Partners for the purchase of a vacant land and for specific activities to support a 4% Low-Income Housing Tax Credit (LIHTC) applicant for a future ground-up 191-unit affordable housing community in Holland, Michigan. HŌM Flats on East 24th Street will be the fourth HŌM Flats development for Magnus Capital Partners in west Michigan and the second in Holland. Upon completion, the project will include:191 One-bedroom, two-bedroom and three-bedroom units.
Hamtramck Recycling Center
- Hamtramck,
- Michigan
- Michigan Community Capital
- New Markets Tax Credit, Tax Credits, Waste Management
A $6.4 Million renovation of the 32,000 square foot Hamtramck Recycling Center, located in Hamtramck, Michigan. This center serves as an industrial recycling facility, as well as space for community members to sort and recycle their consumer products. With support of the State of Michigan, and $5.75 million in NMTC financing provided by Michigan Community Capital, a Michigan-based Community Development Entity, Hamtramck Recycling is now a state-of-the-art 32,000-square-foot recycling and transfer center. Operational in 2013, the facility sorts paper, plastics, Styrofoam and other waste products, as well as light industrial metals, and turns them into usable recycled material. The modernized recycling facility also includes an assembly line that permits the of technology like overhead cameras to examine truck contents upon entry to price its recyclable mix, and automated equipment to permit easier sorting and separation of materials. Hamtramck Recycling also built a new transfer station and tailored it to accommodate Industrial Dry Waste, recovering recyclable materials from the waste stream. The recycling center created 43 new jobs in a distressed community with a 27% poverty rate. These jobs were targeted to Hamtramck residents and 60% of the jobs were reserved for low-income persons with a family income less then 80% of the area median family income. In addition to Hamtramck Recycling's expected economic returns, other significant benefits of this facility is its contribution to enhancing green efforts throughout the Detroit metropolitan area, adding economic stability in a distressed area of the community.
Santa Cruz Community Health Centers
- Santa Cruz,
- New Mexico
- Primary Care Development Corporation
- Community, Healthcare, New Markets Tax Credit, Tax Credits
Primary Care Development Corporation borrower success story
Hudsonville Creamery
- Holland,
- Michigan
- Michigan Community Capital
- Loan Fund, Manufacturing, New Markets Tax Credit, Tax Credits
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.
Bienestar 10 Townhouses
- San Luis,
- Arizona
- Community Housing Capital
- Homeownership, New Markets Tax Credit, Tax Credits
A $5.5 million source loan and $8 million NMTC allocation to Comite de Bien Estar Inc. for its Bienestar 10 Townhouses project. This initiative aims to construct 30 energy-efficient two- and three-bedroom townhomes in San Luis, Arizona. At least 60% of the homes will be sold to buyers at or below 80% of the Area Median Income (AMI). Part of this: This investment will finance the acquisition, construction or rehabilitation and sale of 91 homes s in Indianapolis, IN, San Luis, AZ, Tampa, FL and Baltimore, MD. The development of these homes will increase the stock of quality, affordable for-sale housing for low-to-moderate-income families, creating wealth building opportunities for working-class families.
Youth Employment Agency (YEA) Choice Markets
- Denver,
- Colorado
- Enterprise Community Loan Fund
- Mixed w/ Community, New Markets Tax Credit, Tax Credits
The Youth Employment Academy (YEA) is an operating business that will lease space from DHA Collaborative Facility (another RUGF NMTC recipient) to operate a 4,604 SF fresh food market, called Choice Market located in the ground floor of the building. The Market is located at the 10th and Osage light rail station as part of Denver Housing Authority’s Mariposa Redevelopment and is aligned with the Mariposa Community’s Healthy Living Initiative to provide fresh food in a food desert to the surrounding residents, building tenants and transit riders. The Youth Employment Academy will operate Choice Market providing affordable fresh foods for local residents, office tenants, and transit users. Annually, the YEA will provide low-income “at-risk” youth with culinary, service-oriented training in the areas of healthy food sourcing, preparation and packaging, retail sales and marketing. The project expects to create 4 full time permanent positions which will be accessible to low-income youth.