Rapoza Associates’ New Markets Tax Credit Services

Three years ago, frustrated that the nation’s then-booming economy was not reaching millions of Americans, a group of community development organizations and intermediaries began searching for a way to extend the benefits of prosperity to low-income rural and urban communities. The group concluded that a chronic shortage of the private investment capital needed to stimulate and support economic development was at the core of the problem, and that a community development tax credit could be a large part of the solution.

Rapoza Associates tackled the difficult challenge of getting a tax credit enacted. We were uniquely well-positioned to do so, thanks not only to our long history of working with community development organizations but also to our role in working on passage and implementation of the Community Development Corporation Tax Credit pilot program of 1993.

We organized the Community Development Tax Credit Coalition (now the New Markets Tax Credit Coalition), worked with the group to develop the New Markets Tax Credit (NMTC) proposal, and then worked with the White House and with key members of Congress to build bipartisan support. All this led to the passage of the New Markets Tax Credit as part of the Community Renewal Tax Relief Act of 2000.

Rapoza Associates is now working with many community developmententities (CDEs) to facilitate their successful participation in the New Markets Tax Credit (NMTC) program. We tailor our services to the specific needs of each client.