New Funding Resource for Developers Available
The U.S. Department of Treasury recently awarded a city of Las Vegas subsidiary, the Las Vegas Community Investment Corporation, a $28 million New Markets Tax Credit allocation. The city intends to use this allocation to provide low-interest loans for job-generating projects located in qualified low-income communities within the city’s corporate limits. The credit allocation will support real estate projects focusing on education, health care, retail and mixed-use development. The typical project size will vary, but the city expects to provide $5 million - $15 million projects/developments with New Markets Tax Credit allocations. Learn more.