Attendees will Gain a Broader Understanding of the Federal New Markets Tax Credit Program
TRENTON, N.J. – December 3, 2013 – (RealEstateRama) — The New Jersey Department of Community Affairs (DCA) today announced that registration is still open for the upcoming “Using New Markets Tax Credits (NMTC) in the Development Process” workshop being held on December 6, 2013 at 9:30 a.m. at Thomas Edison State College in Trenton. This course is part of the NJRA Redevelopment Training Institute hosted by the New Jersey Redevelopment Authority, an affiliated agency of the DCA.
“The New Markets Tax Credit Program is yet another way to spur redevelopment in low-income communities,” said DCA Commissioner Richard E. Constable, III, who serves as Chair of the NJRA. “Developers should take advantage of this workshop to become familiar with the technical requirements and complex finance structures of this tax credit program.”
This one-day NMTC training workshop, taught by seasoned attorneys will focus on how to access these highly competitive tax credits for real estate development projects. Actual development projects financed with NMTC will be used for illustration. The workshop session will also address the different NMTC financing structures, monitoring requirements and exit strategies. Additionally, NMTC Community Development Entities (CDEs) will share their specific requirements needed to access their allocated funds.
“With the planned reauthorization of the federal New Markets Tax Credit (NMTC) program, municipalities and developers must learn how to access this flexible financing for redevelopment of mid to large-scale commercial and mixed-use development projects in designated communities,” said NJRA Executive Director Leslie A. Anderson. “In today’s economy, it is critical to be able to identify alternative funding sources.”
The NJRA RTI offers intensive training courses that focus on the redevelopment of New Jersey’s communities. The NJRA RTI is designed to provide non-profit and for-profit developers, professional consultants, entrepreneurs, city/county staff, and lawyers with a body of knowledge of the redevelopment and real estate development process and project financing.
The New Jersey Redevelopment Authority, a DCA affiliate, is an independent authority committed to revitalizing urban New Jersey. NJRA invests financial and technical resources into redevelopment projects to ensure that projects are urban-focused, neighborhood-based and investment-driven.
For further information on the NJRA RTI, including application information and registration, please call the RTI Hotline at 609-278-5779, or log on to http://www.njra.us/rti.