Published: October 29, 2009

Three Chicago Area Institutions to Receive ""New Markets Tax Credit Awards

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As part of an effort to highlight the local impact of the American Recovery and Reinvestment Act (Recovery Act) and the need to rebuild the foundation of the economy, Treasury Secretary Tim Geithner will travel to Chicago to announce billions of dollars in awards to spur private sector investment in communities facing economic challenges.

The Secretary will make the announcement at 10:30am CT on Friday, October 30th at the Greater West Town Community Development Project, a job training center providing unemployed and underemployed individuals with the skills they need to compete. This center has benefitted from funding under the New Markets Tax Credit (NMTC) Program, which helps communities across the nation complete real estate development projects and fund local business development. As part of this round of NMTC Program awards, three Chicago area institutions will receive funds to invest in local development projects.

WHO: Treasury Secretary Tim Geithner

Donna Gambrell, Director of Treasury's Community Development Financial Institutions Fund

Local elected officials

Award beneficiaries

WHAT: Announcement of New Markets Tax Credit Program awards

WHEN: Friday, October 30th

10:30am Central

WHERE: Greater West Town Community Development Project

2045 West Fulton Street

Chicago, IL

"A camera spray for still photographers and TV cameras will be available during Secretary Geithner's tour of the facility. Interested members of the media should arrive by 9:15 am."

Source: U.S. Department of State