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
NMTC Financing for Railroad Corner
- Orangeburg,
- South Carolina
- National Community Investment Fund
Mixed‑Use Development Near HBCUs
Manufacturing Expansion & Job Creation
- Rock Island,
- Illinois
- Bridge Investment CDC
Leverage Lender Partners with NMTC Loan Pool
Cotton Mill Apartments
- Cannelton,
- Indiana
- Cinnaire Lending
Historic Mill Revitalized into Affordable Housing
Additional Tax Credit Financing Stories
Coastal Community Action Program
- Aberdeen,
- Washington
- Craft3
Wind turbines for nonprofit (1): Coastal Community Action Program (CCAP) is a nonprofit social services agency based in Aberdeen, Washington on the Olympic Peninsula. CCAP provides housing services, energy assistance, job training, and emergency social services to low-income families in Grays Harbor and Pacific Counties. With 165 employees and an $8 million annual budget, CCAP historically relied on federal and state funding and charitable donations to support its programs and operations. In an effort to become more self-sufficient and less dependent on outside funding, CCAP’s Chief Executive Officer, Craig Dublanko, developed a plan for CCAP to own and operate a wind farm that would generate income for the organization by selling power to Grays Harbor Public Utility. In 2010, with the help of a state grant and $8 million in NMTC financing provided by Craft3, a community development entity based in Astoria, Oregon, CCAP installed four 1.5 megawatt wind turbines off the Pacific Ocean in Grayland, Washington.
Coalition for a Better Acre (CBA) | New North Canal Apartments
- Lowell,
- Massachusetts
- NeighborWorks Capital
NeighborWorks Capital is pleased to extend a $1,000,000 pre-development line of credit to the Coalition for a Better Acre (CBA) in Lowell, MA. Funds will be used to support predevelopment costs associated with a 4% LIHTC recapitalization of New North Canal Apartments and the new construction of Olympia Restaurant, a homeownership condominium project slated for 2025.
Trianon Lofts
- Chicago,
- Illinois
- Chicago Community Loan Fund
Chicago Community Loan Fund provided a $5 Million NMTC allocation for Trianon Lofts, an apartment building developed by Preservation of Affordable Housing, Inc. (POAH) in the Woodlawn Neighborhood.
Artspace Commons North
- Salt Lake City,
- Utah
- Enterprise Community Loan Fund
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.
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.
HōM Flats
- Holland,
- Michigan
- Michigan Community Capital
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.
Affordable Homes of South Texas, Inc.
- McAllen,
- Texas
- Housing Partnership Network
With an $8M NMTC allocation, Affordable Homes of South Texas, Inc. (AHSTI) will construct approximately 50 new single-family homes in 5 different subdivisions in Hidalgo County.
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.
Hamtramck Recycling Center
- Hamtramck,
- Michigan
- Michigan Community Capital
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
Primary Care Development Corporation borrower success story