Treasury Awards $100 Million Tax Credits to Iowa Community Development Organizations


credit:

The U.S. Treasury Department has awarded $100 million in tax credits to two central Iowa community development organizations to help low-income areas.

The two recipients are: Grimes-based Midwest Renewable Capital and Iowa Community Development in Johnston. The money comes from the federal New Markets Tax Credits program, which provides tax breaks to companies and individuals that invest in community development projects. These projects aim to help low-income and underserved populations.

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