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Two Ohio Organizations Awarded Millions in New Markets Tax Credits
WASHINGTON, D.C. - May 28, 2009 - (RealEstateRama) — U.S. Sen. Sherrod Brown (D-OH) today announced that two Cleveland-based organizations will be awarded an aggregate $85 million through the New Markets Tax Credit (NMTC) Program. The funds, made available through the American Recovery and Reinvestment Act, will support the existing tax credit program that works to create and save jobs, and develop real estate and business projects in both rural and urban distressed communities.