CSH Receives $55M New Markets Tax Credit
The U.S. Treasury Department's Community Development Financial Institutions (CDFI) Fund has announced an award of $55 million in New Markets Tax Credits (NMTC) to CSH (Corporation for Supportive Housing) as part of the federal government's 2018 round of allocations.
"This NMTC allocation will help forge new partnerships and new beginnings in communities by fulfilling our goals of expanding access to affordable housing and vital healthcare services," said CSH President and CEO Deborah De Santis. "The positive results and impacts we see in neighborhoods because of NMTC are proof of how valuable these awards are in creating more resilient, healthier communities."
CSH provides financial products to supportive housing developers, as well as technical assistance and training to providers that may not customarily work with agencies such as mental health, substance use and medical services. CSH will use its new allocation for mixed-use projects in highly-distressed, low-income communities. The housing and community facilities developed will incorporate conveniently accessible support services including: primary healthcare; behavioral and mental health services; health and wellness programs; case management services; and in some instances educational and job training.
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