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NEW MARKETS TAX CREDIT
 ALLOCATION APPLICATION
 Great Lakes Regional Capital CDE, LLC
Application Round:
CY2025
Requested NMTC Allocation:
$70,000,000
Preparation Date:
<RUNDATE>
Readiness Assessment:
Grade B — 84.9/100
Contact: Dana Okonkwo | dokonkwo@greatlakesregional.example.org | 216-555-0142
CONFIDENTIAL — Prepared for CDFI Fund Review Only | Do Not Distribute Without CDE Authorization

@@PAGE 2
Executive Summary
Great Lakes Regional Capital CDE, LLC respectfully requests $70.0 million in New
Markets Tax Credit allocation for CY2025. Our 8-project pipeline spans 4 states, with
85% of QEI committed to deep and severely distressed census tracts.
Key Metrics
Metric
Value
Total Pipeline QEI
$88,500,000
Total Project Cost
$125,450,000
States Represented
4
Deep/Severe Distress Concentration
85%
NMTC Eligibility Rate
100%
Jobs to Be Created
532
Affordable Units to Be Built
142
Jobs per $1MM QEI
6.0
Application Readiness Assessment
 Grade B
 84.9/100
Eligibility Quality: 100/100
Distress Concentration: 100/100
Geographic Diversity: 89/100
Impact Metrics: 33/100
Validation Pass Rate: 100/100
Completeness: 100/100

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 3
Section A: Business Strategy
Investment Thesis and Strategy
Great Lakes Regional Capital CDE, LLC will deploy $70.0 million in NMTC allocation
across 8 projects in 4 states — targeting 85% of QEI in deep and severely distressed
census tracts. The pipeline's largest sector concentration is affordable housing.
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Target Markets — Geographic and Demographic
Primary geographic targets: MI, NY, OH, PA.
Great Lakes Regional Capital CDE, LLC's stated mission is: "Deploy New Markets Tax
Credit capital into severely distressed census tracts across the eastern Great Lakes,
with a standing preference for operating businesses that hire locally."
Per the persistent-poverty flags supplied in this CDE's own pipeline submission, the
pipeline places 25% of QEI in tracts declared as persistent-poverty counties. 13% of
QEI is in tracts recorded as High Migration Rural. This share is NOT solely the CDE's
declaration: the high_migration_rural column of the pipeline submission is overwritten
wherever nmtc-mapper returned a determination for the tract, so where the two
disagree the figure above is the tool's, not the CDE's. Check it against your own
submission before relying on it, and state which governs.
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Pipeline Overview
Item
Value
Total Projects in Pipeline
8
Total Pipeline QEI ($)
$88,500,000
States Represented
4
% QEI in Deep/Severe Distress
85%

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 4
Dominant Sector
Affordable Housing
Total Jobs to Be Created
532
Sector Diversity Score
93.8/100
QEI Deployment Strategy and Timeline
Great Lakes Regional Capital CDE, LLC targets a CY2025 award.
[CDE TO COMPLETE: State your deployment timeline and the diligence status of
each project — when you expect to close the first tranche, how the rest are
sequenced, and how far each project has actually progressed through your
underwriting. This tool holds neither: your pipeline submission records project
economics and locations, not diligence milestones or target closing dates. Do not
assert that a project has cleared underwriting review unless it has.]
QEI deployment strategy: 85% of QEI committed to deep/severe distress tracts. (This
tool's own internal scoring band is ≥75%; it is not a CDFI Fund threshold.)
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Competitive Differentiation
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]

@@PAGE 5
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 5
Section B: Community Outcomes
Aggregate Community Impact Projections
The 8 projects in Great Lakes Regional Capital CDE, LLC's pipeline will produce the
following direct community impacts upon project completion:
 532 permanent full-time-equivalent jobs created  198 existing jobs retained  142
affordable or mixed-income housing units developed  662,900 sq ft of community
facility / commercial space  6.0 jobs per $1MM of QEI deployed
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Distress Level Commitments
Item
Value
QEI in Deep Distress Tracts (a share of QEI, not of QLICIs — see the basis note below)
52.2%
QEI in Severely Distressed Tracts, Deep Distress included (a share of QEI, not of QLICIs — see the basis note below)
85.3%
— of which severely distressed but not also deep
33.1%
QEI in LIC (Standard Eligible) Tracts
14.7%
QEI in NMTC Native Areas (CDE-declared, not verified by this tool)
5.9%
QEI in High Migration Rural (HMR) Tracts
12.7%
BASIS NOTE — the CDFI Fund's two distress commitments are measured on QLICIs, not on QEI
The CY 2024-2025 NMTC Program Review Process (Targeting Areas of Higher Distress, Question 25) states two commitments, and both are measured on QLICIs: at least 85% of QLICIs in specified areas of severe distress and/or areas characterized by multiple indicia of distress, and at least 20% of QLICIs to 'Deep Distress' areas. Every share in this table is a share of QEI. nmtc-application-builder computes neither QLICI-denominated figure — it reads this pipeline's QLICI amounts only to print them in Appendix A and to check that each is no larger than its QEI — so no figure above answers either commitment, and none may be presented to the CDFI Fund as doing so. Two further gaps in the higher-distress commitment: it covers severe distress OR MULTIPLE INDICIA of distress, and this package computes no multi-indicia measure at all, so even the QLICI-denominated severe-distress share would be incomplete against it; and Deep Distress is a strict subset of severe distress, so the second row above already includes the first. The CDE must compute both QLICI-denominated shares from its own QLICI amounts before stating either commitment. (The CY 2026 NOAA is not yet published.)
Community Need Documentation
[CDE TO COMPLETE: Document unmet capital need in the markets this pipeline
serves. Supply the underlying evidence and cite each source by name, publisher and
vintage — for example credit-access or lending data for your tracts, unemployment
and poverty measures, business closures or disinvestment history, and community
input gathered by your CDE. nmtc-application-builder does not compute, retrieve or
verify community-need statistics of any kind, and supplies no figure for this subsection.
No number may be entered here without a citation the CDE controls and can defend to
the CDFI Fund.]
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application

@@PAGE 6
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 6
form for this question, which this tool does not encode — check the form, not this
draft.]
Per-Project Impact Detail
(See Attachment: Impact Projections Table)
Long-Term Community Impact Strategy
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]

@@PAGE 7
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 7
Section C: Management Capacity
CDE History and Certification
Great Lakes Regional Capital CDE, LLC was certified as a Community Development
Entity by the CDFI Fund on 2016-04-11. Since certification, the organization has
received 3 NMTC allocation awards totaling $160,000,000, of which 2 are recorded as
fully deployed.
Per this CDE's own profile declaration, no prior NMTC reporting issues have been
recorded.
[CDE TO COMPLETE: State the CDE's full compliance and performance history over
its prior allocations — recapture or reduction events, defaults, cures, and material
findings. The profile field above covers reporting issues only and is not by itself a
representation about defaults or compliance violations.]
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Governance and Organizational Structure
Item
Value
Board Members
11
Community Representatives
5
Independent Directors
N/A
Board Meeting Frequency
Bi-monthly
CDE Certification Date
2016-04-11
Prior Allocations Received
3
Total Prior Allocation ($)
$160,000,000
Rounds Fully Deployed
2
Track Record — Prior NMTC Deployments
(See Attachment: Track Record Table)
Underwriting Process and Internal Controls

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Page 8
[CDE TO COMPLETE: Describe your CDE's underwriting process end to end — initial
screening and how eligibility is established, impact assessment, financial underwriting
and credit criteria, your investment committee's composition and approval threshold,
and your compliance-monitoring practice over the seven-year period. This tool holds
none of these: your CDE profile records a board headcount, which is not an approval
rule, and nothing in it describes a control you actually operate.]
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Key Personnel and Qualifications
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]

@@PAGE 9
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
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Section D: Capitalization Strategy
Deal Economics Summary
Item
Value
Allocation Requested ($)
$70,000,000
Total Pipeline QEI ($)
$88,500,000
Total NMTCs Generated ($)
$34,515,000
Estimated Investor Equity ($)
$28,647,450
Assumed Credit Price ($/NMTC)
$0.83 (market assumption, not a CDFI Fund parameter)
Total Leverage Loans ($)
$59,852,550
CDE Fee Income ($)
$2,212,500
Assumed CDE Fee Rate
2.5% of QEI (market assumption, not a CDFI Fund parameter)
QEI Less CDE Fees ($)
$86,287,500 (not the QALICB's retained benefit — the $59.9MM leverage loan inside this figure is repaid or refinanced)
Compliance Period
7 years (IRC §45D)
Investor Strategy and Relationships
[CDE TO COMPLETE: Describe your actual investor relationships and their current
status — named institutions where you have them, whether each is a term sheet, a
letter of intent, a prior-round investor or a prospect, and who is expected to lead. This
tool has no investor data for your CDE and cannot attest to any relationship, to
investor motivation, or to how many investors will participate.]
Modelled on $88.5MM of pipeline QEI at an assumed credit price of $0.83/NMTC
credit, the structure implies $28.6MM of investor equity. The credit price is a market
assumption of this model, not a quoted or committed price.
Pipeline footprint: 4 states.
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Leverage Structure
Each transaction will utilize a standard leveraged NMTC structure:

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 10
1. Leverage Lender provides senior debt (approx. $59.9MM total) 2. Tax Credit
Investor contributes equity ($28.6MM) 3. Combined proceeds flow through the CDE as
QLICI loans. 4 of 8 projects are declared below-market-rate in this CDE's own pipeline
submission; the terms of the remainder are not recorded here. 4. QEI less CDE fees:
$86.3MM. This is not the QALICB's retained benefit — the $59.9MM leverage loan
inside it is repaid or refinanced after the 7-year period.
Assumed CDE fee rate: 2.5% of QEI ($2.2MM) — a market assumption of this model,
not a CDFI Fund parameter. Fees cover origination, compliance monitoring, and asset
management over the 7-year compliance period.
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]
Investor Commitments
[CDE TO COMPLETE: This table is a blank form. nmtc-application-builder holds no investor data for your
CDE and supplies no figure in it — not a name, a type, a CRA obligation, a commitment amount, a credit
price or a status, and not the number of rows. Add one row per investor you can name and defend to the
CDFI Fund, and delete any row you cannot.] (See Attachment: Investor Commitments Table)
Leverage Loan Sources
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this
draft.]

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 11
Section E: Prior Awards — Deployment History
Prior Allocation Summary
Great Lakes Regional Capital CDE, LLC has 3 prior NMTC allocation awards totaling
$160,000,000, of which 2 are recorded in the CDE profile as fully deployed.
Per this CDE's own profile declaration, no prior NMTC reporting issues have been
recorded.
[CDE TO COMPLETE: State the CDE's full compliance and performance history over
its prior allocations — recapture or reduction events, defaults, cures, and material
findings. The profile field above covers reporting issues only and is not by itself a
representation about defaults or compliance violations.]
The deployment history table below lists each prior award's year, amount and
deployment status. It does NOT record states served or sectors financed: neither is
collected by this tool's CDE profile scaffold, so no value for them exists to print. [CDE
TO COMPLETE: Add the states served and sectors financed for each prior award
directly to the table below. The CDFI Fund's Section E asks for both and this tool does
not hold them.]
Award-by-Award Deployment History
 **Award 1 (FY2019):** $45,000,000 — Fully Deployed. States: [CDE TO
 COMPLETE — not collected by this tool]. Sectors: [CDE TO COMPLETE — not
collected by this tool].
 **Award 2 (FY2021):** $60,000,000 — Fully Deployed. States: [CDE TO
 COMPLETE — not collected by this tool]. Sectors: [CDE TO COMPLETE — not
collected by this tool].
 **Award 3 (FY2023):** $55,000,000 — Partially Deployed. States: [CDE TO
 COMPLETE — not collected by this tool]. Sectors: [CDE TO COMPLETE — not
collected by this tool].
Compliance and Monitoring
(See Attachment: Track Record Table)
Outcomes and Impact Achieved
Outcomes across all 3 prior awards:
[NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
information. CDFI Fund reviewers score on specificity, evidence, and alignment with
community need. Length is governed by the limit printed on the published application
form for this question, which this tool does not encode — check the form, not this

@@PAGE 12
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 12
draft.]

@@PAGE 13
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 13
Appendix A: Pipeline Detail
 Project ID
 Project Name
 State
 Distress
 Level
 QEI Request
 ($)
 Total Project
 Cost ($)
PRJ-D01
Erie Shoreline
Health
Pavilion
PA
Deep
Distress
$13,000,000
$18,400,000
PRJ-D02
Toledo
Advanced
Components
Plant
OH
Severely
Distressed
$17,500,000
$24,750,000
PRJ-D03
Buffalo East
Side Grocery
Anchor
NY
Severely
Distressed
$6,600,000
$9,300,000
PRJ-D04
Flint
Riverfront
Mixed-Income
Lofts
MI
Deep
Distress
$22,000,000
$31,200,000
PRJ-D05
Youngstown
Workforce
Training
Institute
OH
Low Income
Community
$8,900,000
$12,650,000
PRJ-D06
Saginaw
Community
Wellness
Center
MI
Severely
Distressed
$5,200,000
$7,450,000
PRJ-D07
Scranton
Solar
Manufacturing
Line
PA
Deep
Distress
$11,200,000
$15,900,000
PRJ-D08
Rochester
Main Street
Small
Business ...
NY
Low Income
Community
$4,100,000
$5,800,000
TOTALS
8 projects
$88,500,000
$125,450,00
0
Full 33-column pipeline detail (deal economics, QLICI structure, timeline) is provided in the accompanying
Excel workbook, Pipeline Detail tab.

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025 Application  |  CONFIDENTIAL
Page 14

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Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025  |  CONFIDENTIAL
Page 15
Appendix B: Distress Documentation
 Project ID
 Project
 Name
 City, State
 Census
 Tract
(GEOID)
 NMTC
Eligible
 Distress
 Level
 Severely
Distressed
 Flag
 NMTC
Native Area
(CDE-declar
 ed)
 High
Migration
Rural (HMR)
Opportunity
 Zone
 Poverty
Rate (%)
 Median
Family
Income
Unemploym
ent Rate (%)
Data Source
 ACS
Vintage
PRJ-D01
Erie
Shoreline
Health
Pavilion
Erie, PA
420490003
00
Yes
Deep
Distress
Yes
No
No
Yes
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D02
Toledo
Advanced
Componen
ts Plant
Toledo,
OH
390950024
00
Yes
Severely
Distressed
Yes
No
No
No
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D03
Buffalo
East Side
Grocery
Anchor
Buffalo, NY
360290067
02
Yes
Severely
Distressed
Yes
No
No
No
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D04
Flint
Riverfront
Mixed-Inco
me Lofts
Flint, MI
260490009
00
Yes
Deep
Distress
Yes
No
No
Yes
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D05
Youngstow
n
Workforce
Training
Institute
Youngstow
n, OH
390998109
00
Yes
Low
Income
Community
No
No
No
No
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D06
Saginaw
Community
Wellness
Center
Saginaw,
MI
261450002
00
Yes
Severely
Distressed
Yes
Yes
No
No
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates

@@PAGE 16
Great Lakes Regional Capital CDE, LLC  —  NMTC CY2025  |  CONFIDENTIAL
Page 16
 Project ID
 Project
 Name
 City, State
 Census
 Tract
(GEOID)
 NMTC
Eligible
 Distress
 Level
 Severely
Distressed
 Flag
 NMTC
Native Area
(CDE-declar
 ed)
 High
Migration
Rural (HMR)
Opportunity
 Zone
 Poverty
Rate (%)
 Median
Family
Income
Unemploym
ent Rate (%)
Data Source
 ACS
Vintage
PRJ-D07
Scranton
Solar Man
ufacturing
Line
Scranton,
PA
420691009
00
Yes
Deep
Distress
Yes
No
Yes
Yes
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
PRJ-D08
Rochester
Main
Street
Small
Business
Fund
Rochester,
NY
360550044
00
Yes
Low
Income
Community
No
No
No
No
See ACS
See ACS
See ACS
CDFI Fund
NMTC
Eligibility
Table (201
6–2020
ACS)
2016–2020
ACS
5-Year
Estimates
SUMMAR
Y
8 total
projects
8/8
6/8 (75%)
1/8

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Appendix C: Geographic Targeting
 State
 Projec
 t
Count
 QEI ($)
 QEI (%
 of
Total)
 Deep/Sever
 e Projects
 Native Area
Projects (CDE-
 declared)
 HMR Pr
 ojects
 OZ Proj
 ects
MI
2
$27,200,00
0
30.7%
2
1
0
1
NY
2
$10,700,00
0
12.1%
1
0
0
0
OH
2
$26,400,00
0
29.8%
1
0
0
0
PA
2
$24,200,00
0
27.3%
2
0
1
2
TOTA
L
8
$88,500,00
0
100.0
%
6
1
1
3

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Appendix D: Impact Projections
 Project Name
 State
 Sector
 Jobs
Created
 QEI ($)
 Cost per
 Job ($)
 Distress
 Level
Erie Shoreline
Health
Pavilion
PA
Healthcare
96
$13,000,000
$191,667
Deep
Distress
Toledo
Advanced
Components
Plant
OH
Small
Business
143
$17,500,000
$173,077
Severely
Distressed
Buffalo East
Side Grocery
Anchor
NY
Other
52
$6,600,000
$178,846
Severely
Distressed
Flint
Riverfront
Mixed-Income
Lofts
MI
Affordable
Housing
27
$22,000,000
$1,155,556
Deep
Distress
Youngstown
Workforce
Training In...
OH
Education
41
$8,900,000
$308,537
Low
Income
Community
Saginaw
Community
Wellness
Center
MI
Community
Facility
33
$5,200,000
$225,758
Severely
Distressed
Scranton
Solar
Manufacturing
Line
PA
Clean
Energy
78
$11,200,000
$203,846
Deep
Distress
Rochester
Main Street
Small Busi...
NY
Small
Business
62
$4,100,000
$93,548
Low
Income
Community
TOTALS (8
projects)
532
$88,500,000
$166,353
Full impact detail is in the Excel attachment.

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Appendix E: CDE Track Record
 Award Year
 Allocation ($)
 Deployment
 Status
 States
Deployed
 Sectors
 Notes
2019
$45,000,000
Fully
Deployed
2021
$60,000,000
Fully
Deployed
2023
$55,000,000
Partially
Deployed
TOTALS
$160,000,00
0
2 rounds
fully
deployed
0 states
$160,000,00
0 total prior
allocation

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Appendix F: Methodology
Generated by nmtc-application-builder v<VERSION> on <RUNDATE>.
ELIGIBILITY: CDFI Fund NMTC Eligibility Table, 2016–2020 ACS 5-Year Estimates.
DISTRESS LEVELS (quoted from the CDFI Fund NMTC LIC Eligibility workbook,
2016–2020 ACS, columns O and P — the file this tool loads to classify every tract; the
criteria are the workbook's own, with spacing normalised for legibility): Severe distress
= LIC AND (Poverty>30%; MFI<=60%; Unemployment>=1.5). Deep distress = LIC
AND (Poverty>40%; MFI<=40%; Unemployment>=2.5). The semicolons are ORs;
both tiers additionally require the tract to be a Low-Income Community. NMTC rounds
are announced by a NOAA — Notice of Allocation Availability — and the CY 2026
NOAA is not yet published.
DEAL ECONOMICS: computed using the nmtc-calc library, standard leveraged NMTC
structure. Statutory credit rate 39% of QEI over 7 years (IRC §45D(a)(2): 5% of the
QEI on each of the first three credit allowance dates and 6% on each of the remaining
four). Assumed credit price $0.83/credit and CDE fee 2.5% of QEI are market
assumptions of this model, not CDFI Fund parameters. The leverage loan is the
residual of QEI less investor equity, so leverage plus equity equals QEI in every
surface of this document.
IMPACT SCREENING BANDS: THIS TOOL'S OWN BANDS (5 / 12 / 20 FTE per
$1MM QEI). The CDFI Fund publishes no jobs-per-QEI benchmark in any
denominator: it reports job counts and dollar counts separately and never divides
them, and it publishes no distribution, so no band here is a percentile. These are not a
federal figure and must not be cited as one.
READINESS SCORE: An UNSOURCED HOUSE HEURISTIC of this tool (eligibility
25%, distress concentration 25%, geographic diversity 15%, impact metrics 20%,
validation 10%, completeness 5%). The weights are this tool's own judgement; they
are not calibrated against award data, the CDFI Fund publishes no such weighting,
and the score does not predict an award outcome.
