CAN I GET NMTC FINANCING FROM NMR?

NMR received an allocation of $34 million of NMTC authority in May, 2005.  As of January 1, 2007, all of the NMTCs had been put to work financing real estate projects in downtown or near-downtown Oklahoma City . 

In March, 2007, NMR applied for another allocation of NMTCs from the CDFI Fund of the US Treasury Department, along with 257 other CDEs, in the 2007 Allocation Round.  The Treasury Department expects to announce the successful CDEs and their allocation awards in October or November of 2007.

If NMR receives another allocation, it intends to continue its investment program in downtown Oklahoma City , as described under What We Do on the navigation bar at the left.

The Map of Eligible Areas, also shown on the navigation bar, shows census tracts which qualify as Low Income Community areas.

NMR plans to give priority to projects which are priorities of the City of Oklahoma City, determined pursuant to a participatory planning process, for economic development of Low Income Communities in downtown and near-downtown Oklahoma City .

While it awaits word of further NMTC allocations, NMR intends to build its pipeline of eligible projects, so that it can move quickly with high priority investments as soon as it is reauthorized.

For more details about what NMR is looking for in the projects it funds, go to the Underwriting Requirements button on the navigation bar at the left.