New Markets Financing
The Healthy Futures Fund leverages New Markets Tax Credits (NMTCs) from the Local Initiatives Support Corporation (LISC) and other partners to help finance community health centers in low-income neighborhoods. HFF partner Morgan Stanley is providing the fund's early NMTC capital.
Enacted in 2000, NMTCs are designed to spur the commercial redevelopment of disinvested areas. They have attracted more than $38 billion in direct investments, generating $8 of private investment for every $1 of federal funding. NMTCs have financed more than 4,800 small businesses and created more than 164 million square feet of manufacturing, office, and retail space, charter schools, health care centers, child care centers, shopping centers, recreational facilities, food markets and more. Most are located in severely distressed communities with high rates of poverty and unemployment.
- Learn more about how New Markets Tax Credits work.
- The Treasury Department's CDFI Fund oversees the NMTC program and makes allocations.
- The New Markets Tax Credit Coalition helps spread the word about impact.