NCIF, Carver Federal Savings Bank, and City National Bank of New Jersey are pleased to announce the closing of a high-impact New Markets Tax Credit (NMTC) deal in New York City. Harlem RBI, a community-based youth development organization, will expand its successful DREAM Charter School and provide an extensive array of services to students and their families.
Both banks will participate as lenders, allowing them to book loans, build relationships with Harlem RBI and DREAM, support a high-impact community project, and remain active and competitive in the NMTC program. NCIF contributed $7M in New Markets allocations to the project.