Bringing New Opportunities to the City of Los Angeles with New Markets Tax Credits
The Los Angeles Development Fund (LADF) is a California non-profit and certified Community Development Entity (CDE) established by the City of Los Angeles to administer its New Markets Tax Credits (NMTC) program. The LADF received a $75 million NMTC allocation in the 2007 funding round. The LADF is committed to using its NMTC allocation to stimulate economic development in low-income communities throughout the City of Los Angeles. The LADF will target its allocation toward projects that generate maximum economic and community benefits for the residents living in the City’s economically distressed communities, promoting job and wealth creation and advancing the principles of sustainable building design and responsible land use.
The NMTC program, administered by the U.S. Department of the Treasury, permits taxpayers to receive a credit against federal income taxes for making qualified equity investments in designated CDEs. As a certified CDE, the LADF acts as the bridge between the capital markets and low-income communities by taking the investment capital that it receives and lending it to qualified projects.
The CRA/LA is the approved management agent for the LADF. The CRA/LA provides administrative and management services to the LADF and is responsible for overseeing all aspects of the NMTC program.
For more information about the Los Angeles Development Fund:
For more information contact:
Sandy Rahimi
(213) 977-1832
srahimi@cra.lacity.org
