How to Find New Market Tax Credit Eligible Areas
To determine whether a
particular area is eligible for New Market Tax Credits, go to the following census bureau site to find the census tract number. You start by entering the address of the site. Look up the Census Tract number.

Next go to the attached excel table, first select the name of the metropolitan area with the arrow in the column titled MSA Heading then look up the census tract number by putting the cursor on the arrow in the Census Tract heading and selecting the number.

The Census Tract number you are looking for are the last number to the right. The first two numbers represent the state and the second three
numbers represent the
County. The number "1" in
the NMTC column indicates
the eligible tracts.

If you need a more assistance you can follow the more detailed instructions we have prepared for you on the attached web page.

NMTC Summarized
We recently made a present-ation to Detroit CDC's in a
program sponsored by CEDAD
on the New Market Tax Credit program. It is in Power Point. Just double click on NMTC Presentation. If you have a question, just e-mail us - the address is below

Finding Other CDE
Allocatees
The list of 2005 allocatees can be found at this link. Call every national CDE don't worry about the list of states in their write up. They do not have to go to only those states. They can go to any state that meets their other objectives. However, I would contact those that highluight Michigan first.

MMF Info
MMF I Articles of Incorporation
MMF I Bylaws

Password Protected
Site Established
A password Secured site
has been established for the
MMF Executive Committee,
Board, and Investment
Committee. We will use it
for agenda and attachments
that are only available to
them.

BOARD OF DIRECTORS
Ted Rozeboom, Chair
- MSHDA
Mark McDaniel, Vice Chair
- Great Lakes Capital Fund
Mark Morante, Sec'y/Treasurer
- MEDC
David Blaszkiewicz, Exec. Comm.
- Detroit Investment Fund
Tony Lentych, Executive Comm.
- CEDAM
Richard M. Buss
- National City Bank
JoAnn Crary,
- Saginaw Future, Inc.
William D. Johnston,
- The Greenleaf Companies
Donna Kelce
- Key Bank
Tony McGhee,
- Cornerstone Alliance
Greg Nicholas,
- Flint Genesee Eco. Growth All.
Dan Oegema
- City of Grand Rapids
K. Michael Skytta
- Wells Fargo Bank Michigan, N.A.
Donna Murray-Badgett
- Charter One Bank
Dennis J. West,
- Northern Initiatives
Annette Williams,
- Fifth Third Bank CDC
James Bernacki,
- Comerica Bank
Richard Tresize,
- Lansing EDC

INVESTMENT COMMITTEE
Mark Morante, Chair
- MEDC
Mark McDaniel, Vice Chair
- Great Lakes Capital Fund
Ted Rozeboom
- MSHDA
Tony Lentych
- CEDAM
Richard M. Buss
- National City Bank
William D. Johnston,
- The Greenleaf Companies
Tony McGhee,
- Cornerstone Alliance
Donna Murray-Badgett
- Charter One Bank
Dennis J. West,
- Northern Initiatives
Annette Williams
- Fifth Third Bank CDC

Michigan Magnet
Fund Initiates New
Markets Tax Credit
Program
The Board of Directors of the MMF
hired AAB Development Strategies,
LLC to help manage the state's New
Markets Tax Credit financing
program. A description of the
program is outlined in the attached
PowerPoint presentation. Any
Developer searching for
information on the operation of the
program should view it.

What are the Steps to
Obtaining a MMF
Commitment
The MMF Board of Directors passed
a set of Guidelines for the Investment
Committee and agreed on a two step
application process. During the 1st
step, read the attached Pre-
application Package, complete the
application andobtain a Letter of
Interest from one of MMF's investors.
The Pre-application will provide us
information on the project, its
location and eligibility, the impact
of the project on the community,
whether it is part of a comprehen-
sive plan, and summarized financial
data. We have included a WORD
version of the Preapplication to
make it easier to foryou to fill out.

The Investment Committee will
review each of the Pre-applications
against its Guidelines and invite the
best Developer Pre-applications to
submit a Full Application. The full
application will require details such
as proof of land control, financial
commitments, environmental
remediation, detailed pro formas,
and proof that construction can begin
within six months.

A copy of the full application and
MMF's evaluation criteria can be
found on the next page,