MBS Wins New Markets Tax Credits!

September 1, 2006 | McCormack Baron Salazar

U.S. Bancorp Community Development Corp. and developer McCormack Baron Salazar were awarded $135 million and $60 million in tax credits, respectively, through the New Markets Tax Credit Program. Dan Iannicola, a U.S. Treasury Department official and St. Louis native, announced the local awardees Thursday.

The U.S. Treasury Department announced Thursday a nationwide total of $4.1 billion in tax credits that will be awarded, including $600 million for redevelopment in Gulf Coast areas ravaged by Hurricane Katrina last August.

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