A year after it was rescued from elimination, the federal New Market Tax Credit program is again facing extinction. Congress must act before the end of the year to save the popular tool for subsidizing investment in underserved communities.
"The premise behind New Market Tax Credits, or NMTCs, is simple: While there is certainly both need and opportunity in underserved communities, there isn’t much capital or private sector money," explains Bill Bradley. "So developers, business leaders and entrepreneurs in these areas — dubbed 'New Markets' — received federal subsidies to encourage more investment."
"In June, senators Jay Rockefeller (D-West Virginia) and Roy Blunt (R-Missouri) introduced legislation to have the program extended permanently. At the moment, however, there’s no sign that it will continue come the new year. Which seems crazy, given both the demand and the program’s success."
FULL STORY: New Market Tax Credits Set to Expire
19 of 1,036 Majority-Black ZIP Codes Are 'Prosperous,' Report Says
The Economic Innovation Group has released its 2020 Distressed Communities Index.
Big Investors Cornering the Canadian Rental Market
What's good for pension funds and real estate investment trusts is likely bad for renters.
A Better Way to Tackle Social and Economic Inequality
Building community wealth from the bottom up is a more effective way to turn struggling communities around.
The Slow Death of Ride Sharing
From the beginning, TNCs like Lyft and Uber touted shared rides as their key product. Now, Lyft is ending the practice.
Amtrak Calls for Expansion, Citing Close to 100 Requests for New Lines
The agency told a House committee it has received more than 90 applications for new intercity rail lines from cities around the country.
Cool Walkability Planning
Shadeways (covered sidewalks) and pedways (enclosed, climate controlled walkways) can provide comfortable walkability in hot climates. The Cool Walkshed Index can help plan these facilities.
Federal Infrastructure Dollars Funding Road Expansions
Far from kickstarting a transformative change in transportation policy, the 2021 bipartisan infrastructure law continues to fund traditional road-building projects.
Downtown Omaha Planning for its Post-One-Way-Streets Era
The Omaha City Council has decided to reverse the transportation model adopted in the city in the 1950s, for the benefit of traffic safety and local retail activity.
Planning for Proximity, for the Climate’s Sake
A new global platform will help the world identify and encourage opportunities for more proximity in the built environment—development patterns that can help reduce sources of greenhouse gas emissions and other forms of pollution if built well.
Bossier City - Parish MPC
Wichita-Sedgwick County Metropolitan Area Planning Department
City of Bangor
HUD's Office of Policy Development and Research
Chaddick Institute at DePaul University
HUD's Office of Policy Development and Research
Montrose County
Wichita-Sedgwick County Metropolitan Area Planning Department
City of Lomita
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
