To date, NCIF has received New Markets Tax Credits (NMTC) allocations in Round II and Round VI totaling $68 million.

The Round II allocation was invested to promote Rutgers University's new Business School in Newark, New Jersey. Partners in the transaction included Rutgers University, City National Bank of New Jersey (NCIF investee and the only African American Bank headquartered in Newark), New Jersey Community Capital, and PNC Bank.

The Rose Quarter Housing development, another recent transaction completed with a portion of the Round VI allocation with Albina Community Bank, is an adaptive reuse of a former Ramada Inn in Portland, OR. The existing hotel rooms will be converted into studio apartments for very low-income individuals, plus four offices for resident services coordinators. Space on the ground floor formerly used by the hotel's restaurant and lounge will be converted to an alcohol and drug detoxification center. The project will be owned and managed by Central City Concern ("CCC"), a nonprofit agency serving single adults and families who are affected by homelessness, poverty and substance addiction.

NCIF continues to seek allocations to invest in low to moderate income communities through CDFI banks and thrifts. NCIF is on the Board of the New Markets Tax Credit Coalition.