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U.S. Bank Receives $95 Million in New Markets Tax Credit Allocation to Attract Investment in Distressed and Underserved Areas.

Publication: Business Wire
Publication Date: 03-NOV-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
ST. LOUIS -- USBCDE, LLC, U.S. Bank's Community Development Entity (CDE), recently received $95 million in New Markets Tax Credit (NMTC) allocation authority from the U.S. Treasury's Community Development Financial Institutions Fund (CDFI Fund), bringing its total allocation awards to date to $435 million. With this allocation, USBCDE will continue to support its financing activities to for-profit and non-profit operating businesses and developers of mixed use real estate, including office, industrial, retail, and community facilities in distressed and underserved areas in low income communities throughout the nation.

Since 2006, USBCDE has financed 41 NMTC projects in 22 states and 34...

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