Enterprise Receives $62 Million in New Markets Tax Credit Allocation from CDFI Fund

COLUMBIA, MD – February 25, 2011 – (RealEstateRama) — Enterprise Community Investment, Inc. (Enterprise), a national leader in community development and affordable housing, today secured $62 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). Enterprise is one of 99 Community Development Entities receiving an allocation of the $3.5 billion in NMTC awarded as part of the Tax Relief, Unemployment Insurance Authorization and Job Creation Act of 2010. This new allocation brings Enterprise’s total NMTC awards to $672 million, $595.5 million of which has previously been invested in low-income communities nationwide, making it one of the largest allocatees of NMTCs in the country