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

Contact:
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
Phone: (608) 257-3863
Kirby L. Toon, Director of Capital Strategy
Phone: (608) 204-8841
Email: kirbyt@forwardci.org

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