Two weeks ago, the U.S. Department of the Treasury's Community Development Financial Institutions Fund announced that it has allocated $3.5 billion in the tenth award round of the New Markets Tax Credit (NMTC) program to 85 different community development entities across 28 states and the District of Columbia, a press release from the department said. Established by Congress in 2000, the NMTC enables low-income communities to have access to "patient, private investment capital" by offering a credit to those who invest in community development entities that totals "39 percent of the cost of the investment and is claimed over a seven-year period." For more, read the full press release as well as this blog from the Treasury Department that collected local responses to the announcement from newspapers across the country.