ST. LOUIS--(BUSINESS WIRE)--The U.S. Department of the Treasury awarded U.S. Bank’s community development entity, USBCDE LLC, the authority to raise $55 million in financing for low-income communities. The award is part of a $3.5 billion New Markets Tax Credit (NMTC) allocation authority package announced this week by the Treasury’s Community Development Financial Institutions Fund. USBCDE is one of only 76 community development entities among 263 applicants that received allocation authority.
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