CDFI Fund Selects Contractor for the New Markets Tax Credit Program Native Initiative

The Community Development Financial Institutions Fund (CDFI Fund) has selected a contractor for the NMTC Program Native Initiative. The NMTC Program Native Initiative is an effort to increase New Markets Tax Credit (NMTC) investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaska Native Village Statistical Areas, collectively referred to as NMTC Native Areas.

The CDFI Fund has awarded the contract to Big Water Consulting, LLC. As an organization and through its partners, Big Water Consulting has experience conducting research related to community and economic development and working with Tribal entities. Big Water Consulting also has extensive knowledge of the NMTC Program and industry and has conducted trainings related to the NMTC Program for Community Development Financial Institutions (CDFIs) and Community Development Entities (CDEs).

The contractor will research and analyze NMTC investments in NMTC Native Areas and review existing community and economic development research related to NMTC Native Areas. This research will include the administration of a survey to participants in past NMTC investments in NMTC Native Areas. The research and survey findings will be used to develop a Self-Assessment Guide and training materials for technical workshops. The technical workshops will be targeted to CDEs that are Native owned or controlled, Native CDFIs, and other tribal entities that focus on investing in NMTC Native Areas. The contractor will also provide individual technical assistance to Native CDEs, Native CDFIs, and other tribal entities that are interested in receiving information specific to their organization.

The CDFI Fund will release more details about this effort, including the training workshop dates, locations, and how to apply, as they are finalized in the coming months.

To learn more about the NMTC Program, please visit the CDFI Fund’s website at www.cdfifund.gov/nmtc or view the program’s fact sheet.