The NMTC credits Enterprise just received are being madeavailable under the American Recovery and Reinvestment Act of 2009;Enterprise is one of 32 Community Development Entities receiving anallocation of the $1.5 billion in NMTC awards under the act. Thenew allocation brings Enterprise's total NMTC awards to $610million--$515 million of which has previously been invested inlow-income communities nationwide. Enterprise did not return a callto GlobeSt.com in time for publication.

Enterprise is planning to dedicate its allocation to create anEnterprise Green Communities New Markets Tax Credit Program--one ofthe first national financing vehicles for environmentallysustainable commercial, community and mixed-use developments inlow-income areas in the United States. Enterprise already has along-standing track record in green affordable housing, JoeWesolowski, senior vice president for Structured Finance atEnterprise, says in a prepared statement. That expertise is now"being extended to commercial development projects," he says.

Under its Enterprise Green Communities New Markets Tax CreditProgram, Enterprise will give priority to developments thatincorporate energy efficiency and renewable energy and healthybuilding techniques as well as transit-oriented development andbrownfield reclamation developments. The program will provide taxcredit financing and technical services.