Genesis LA (GLA)

New Markets Tax Credits (NMTC)

Since 2005, Genesis LA has received and deployed $220 million of New Markets Tax Credit (NMTC) allocation awarded by the U.S. Department of the Treasury’s CDFI Fund. Our NMTC investments are made to real estate projects located in low-income census tracts in Los Angeles County. The NMTC program is a leveraged finance structure, where the tax credit investment generally provides roughly 25% of the capital necessary to finance a project and the remaining 75% comes from leverage sources (banks, developer equity, public sources, etc.). Through this structure, NMTC financing ensures that new capital is delivered to low-income communities and that community and economic development projects can move forward.