New Markets Tax Credit (NMTC) Program - FCI Allocation

New Markets Tax Credit (NMTC) Program

Administrating Organization: Forward Community Investments (FCI)

Funding Source: U.S. Department of the Treasury Community Development Financial Institutions (CDFI) Fund

Overview:
The NMTC Program is a federal initiative designed to stimulate private sector investment in economically distressed urban and rural communities facing persistent barriers to accessing capital. FCI receives allocations to finance community-centered development projects providing essential services and serving as anchors for local economies.

Geographic Scope: Wisconsin (with some multi-state project eligibility)

Recent FCI Allocations:

• 2025-2026: $55 million (tied largest in FCI history)
• 2024-2025: $40 million
• Since 2014: FCI has deployed $237.2 million in NMTC financing

Focus Areas:

• Health care facilities and community health centers
• Educational institutions and workforce development centers
• Nonprofit infrastructure in rural and underserved areas
• Childcare facilities
• Community recreational facilities
• Residential housing for vulnerable populations
• Food access and nutrition programs

Eligible Applicants:

• Nonprofit organizations
• Community development organizations
• Organizations serving low-income communities
• Projects in designated low-income communities

What They Finance:

• Facility acquisition and construction
• Building renovation and expansion
• Critical infrastructure
• Community facilities providing essential services

Recent Projects Financed:

• Lincoln-King Community and Health Care Center (Racine) - construction
• Boys and Girls Club of Janesville (Janesville) - $13 million allocation, 35,500 sq ft new facility
• Lac Courte Oreilles Community Health Center (Hayward) - construction (FCI received 2024 Novogradac Non-Metro QLICI of the Year award)
• Dr. Howard Fuller Collegiate Academy High School and Middle School (Milwaukee) - development and renovation
• Eau Claire Children's Museum Multi-Use Community Facility (Eau Claire) - $4.5 million allocation
• Wautoma YMCA (Wautoma) - $8 million FCI allocation (total $18 million project)
• Meta House Project Horizon (Milwaukee) - $15.4 million for outpatient facility and residential housing
• Children's Museum of Eau Claire (CMEC) - $4.5 million for 25,000 sq ft facility

National Program Context:

• 2024-2025 round: $10 billion national allocation (largest since program inception)
• Expected to: drive private investment, accelerate job creation, leverage billions in additional private capital
• Program created to stimulate private market investment in economically distressed communities
• To date: awarded $81+ billion through 20 allocation rounds

Forward Community Investments
Madison Office: 2352 S Park Street Suite 326, Madison WI, 53713
Milwaukee Office: 507 S 2nd St. Suite 220, Milwaukee, WI 53204
Email: kirbyt@forwardci.org

More Information: www.forwardci.org/new-markets

NMTC Application Process

1. Initial Inquiry: Organizations interested in NMTC financing through FCI should visit www.forwardci.org/new-markets
2. Contact FCI: Reach out to discuss project feasibility and fit with program
   • Phone: (608) 257-3863
   • Email: kirbyt@forwardci.org (Kirby Toon, Director of Capital Strategy)
3. Project Requirements:
   • Located in designated low-income community
   • Provides essential community services
   • Demonstrates significant community benefit
   • Clear financial structure and viability
4. Financing Partners:
   • FCI serves as Community Development Entity (CDE)
   • Tax credit investors (e.g., banks, corporations) purchase tax credits
   • Organizations structure deals with financing partners
   • May include additional funding sources (grants, municipal funds, philanthropy, bridge financing)
5. Note: Detailed application procedures not specified in available materials; contact FCI directly for specific requirements