Two entities in the Kansas City area each received $55 million in authority from the U.S. Treasury Department's Community Development Financial Institutions Fund to issue New Market Tax Credits, which are designed to spur economic growth in distressed areas.
AltCap and Central Bank of Kansas City received the allocations and will use them to provide loans, investments or financial counseling in low-income urban and rural communities.
AltCap, which is limited to a local service area that covers…
Two entities in the Kansas City area each received $55 million in authority from the U.S. Treasury Department's Community Development Financial Institutions Fund to issue New Market Tax Credits, which are designed to spur economic growth in distressed areas.
AltCap and Central Bank of Kansas City received the allocations and will use them to provide loans, investments or financial counseling in low-income urban and rural communities.
AltCap, which is limited to a local service area that covers…