{"id":12371,"date":"2024-11-14T15:13:36","date_gmt":"2024-11-14T20:13:36","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=12371"},"modified":"2024-11-14T15:13:38","modified_gmt":"2024-11-14T20:13:38","slug":"maryland-community-investment-corporation-announces-community-development-entity-certification","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2024\/11\/14\/maryland-community-investment-corporation-announces-community-development-entity-certification\/","title":{"rendered":"Maryland Community Investment Corporation Announces Community Development Entity Certification"},"content":{"rendered":"\n

BALTIMORE, MD <\/b>\u2013 The Maryland Community Investment Corporation (MCIC) today announced the receipt of certification as a Community Development Entity from the Community Development Finance Institution Fund (CDFI Fund). Award of this certification is a key step towards accomplishing the MCIC\u2019s purposes of supporting New Market Tax Credit (NMTC) projects and awards throughout Maryland.<\/span><\/p>\n

\u201cI am thrilled that the U.S. Treasury has certified MCIC as a Community Development Entity. This designation will ensure that MCIC can unlock new funding opportunities for our communities and foster long-term economic growth across Maryland,\u201d <\/span>said Comptroller Brooke E. Lierman.<\/b> \u201cMCIC is the state\u2019s newest economic development entity and over the long term I know it can deliver important and much needed funding to build sustained prosperity for neighborhoods and communities.\u201d<\/span><\/p>\n

\u00a0The Maryland Community Investment Corporation, which was established under<\/span> House Bill 599<\/span><\/a>, and <\/span>signed into law by Governor Wes Moore<\/span><\/a>, represents Maryland’s first state-sponsored Community Development Entity. As a quasi-governmental entity, the corporation is dedicated to building long-term financial capacity and sustained investment in low-income communities across Maryland through <\/span>New Markets Tax Credits<\/span><\/a>.\u00a0<\/span><\/p>\n

This award positions MCIC for future applications to Community Development Finance Institution funds for New Markets Tax Credits allocation awards, to compete for other Federal resources to support community development and to connect with existing Maryland Community Development Entities to support NMTC activities throughout the State.<\/span><\/p>\n

\u201cThe certification of the Maryland Community Investment Corporation as a Community Development Entity will unlock crucial federal dollars, opening countless new doors for Maryland communities to grow and thrive,\u201d <\/span>said Maryland Department of Housing and Community Development Secretary Jake Day.<\/b> \u201cThrough continued partnership with community development organizations, other Community Development Entities and State and local leaders, I\u2019m confident the work of the MCIC will create a stronger, safer and more affordable Maryland.\u201d<\/span><\/p>\n

\u201cMCIC\u2019s certification as a Community Development Entity will allow the State of Maryland to draw crucial federal financial resources to galvanize development investment in underserved communities, fostering growth and opportunity across the state,\u201d <\/span>said Maryland Community Investment Corporation Chief Executive Officer Michael Pokorny<\/b>. \u201cI\u2019m grateful for the efforts of the MCIC Board of Directors and our partners across the state in helping us reach this important milestone.\u201d<\/span><\/p>\n

The creation of Maryland Community Investment Corporation comes at a pivotal time for Maryland, as the state addresses housing affordability and community investment through <\/span>comprehensive legislative measures\u200b<\/span><\/a> championed by Governor Moore during the 2024 legislative session.<\/span><\/p>\n

To learn more about the Maryland Community Investment Corporation, visit<\/span> the Maryland Department of Housing and Community Development\u2019s website<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

BALTIMORE, MD \u2013 The Maryland Community Investment Corporation (MCIC) today announced the receipt of certification as a Community Development Entity from the Community Development Finance Institution Fund (CDFI Fund). Award of this certification is a key step towards accomplishing the MCIC\u2019s purposes of supporting New Market Tax Credit (NMTC) projects and awards throughout Maryland. \u201cI  Read the Rest…<\/a><\/p>\n","protected":false},"author":242,"featured_media":11394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[33,302],"tags":[],"class_list":["post-12371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases","category-turning-the-key"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/242"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=12371"}],"version-history":[{"count":1,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12371\/revisions"}],"predecessor-version":[{"id":12372,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/12371\/revisions\/12372"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media\/11394"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=12371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=12371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=12371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}