Public/Private Partnership
Tax Increment Financing
New Market Tax Credits
SBA Loans
Business & Industry Loans
Historic Rehabilitation Credits
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NMTC
The New Markets Tax Credit (NMTC) Program was designed by the United States Treasury Department to increase the amount of private dollars invested in low-income communities. The program permits taxpayers to receive a credit against federal income taxes for making qualified equity investments in designated Community Development Entities (CDEs). Substantially all of the qualified equity investment must in turn be used by the CDE to provide investments in low-income communities. The credit provided to the investor totals 39% of the cost of the investment and is claimed over a seven-year credit allowance period. In each of the first three years, the investor receives a credit equal to five percent of the total amount paid for the stock or capital interest at the time of purchase. For the final four years, the value of the credit is six percent annually. Investors may not redeem their investments in CDEs prior to the conclusion of the seven-year period.
Century Equities has experience in all aspects of the
NMTC program. Century Equities formed West Virginia Community
Development, an approved CDE, in 2002 and submitted an
extensive application for NMTC allocation. Additionally,
Century Equities has taken the lead in structuring one
of the nation's first NMTC transactions, involving Orrick's
Global Operations Centers in Wheeling, WV. This award
winning historic rehabilitation has also qualified for
NMTCs through the work of Century Equities, Regional Economic
Development Partnership, and the National Trust for Historic
Preservation.
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