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U.S. Treasury Announced Today a $56 million tax credit award to MCDC for Montana Revitalization Projects

Here is some really big news for Montana Communities. The U.S. Department of Treasury announced, just hours ago, its 2010 Allocations of Federal Tax Credit Financing. Montana got a $56 million slice of the pie. MCDC received the top dollar amount among organizations serving one state. It was one of 99 community development organizations from around the country to bring home an award, out of a pool of 250 applicants. Organizations in 27 states received an award. MCDC received the 11th largest award of the 99 awards.

We are so thrilled for Montana communities!! These federal tax credits spur private investment into low-income areas and help revitalize communities. The Garlington Building in downtown Missoula is one of the projects that came to fruition using MCDC’s previous award of tax credits. Town & Country Foods Inc. in Bozeman, the Historic Butte Building in Uptown Butte and the Peak Health and Wellness building in Helena were also made possible with the last round of credits. Now we have even more tax credits than before to kick-start other projects around the state bringing jobs and economic vitality to low-income and often economically distressed areas. We can’t wait to see what new projects will be launched with the additional tax credit money.

MCDC Press Release is attached.

Link to today’s U.S. Treasury’s Press Release is:

http://www.cdfifund.gov/news_events/Treasury-Announces-3.5-Billion-in-Awards-For-Economic-Development-and-Community-Revitalization.asp

Below are pictures of the four previous New Markets Tax Credit projects. Please call with questions. We are excited to talk about the possibilities ahead for Montana communities.

Lynn Dankowski

Marketing Manager and Business Advisor

Montana Community Development Corporation

110 E Broadway, Second Floor

Missoula, MT 59802

406.728.9234 ext 215

406.542.6671 fax

http://www.mtcdc.org

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