The Community Development Entity (CDE) of Kansas City, Mo., is accepting applications through Feb. 28 for its New Markets Tax Credit (NMTC) program.

The federally funded NMTC program helps direct capital to low-income communities by giving corporations a tax credit incentive for investing in a qualified CDE. In turn, the CDE uses the investors’ money to help eligible businesses and real estate entities finance development projects in extremely distressed neighborhoods.

Investment equity raised by the KCMO CDE is used to provide low-cost financing mainly for commercial uses, with the possibility of housing (such as mixed-use), in low-income communities within the city limits of Kansas City.

Before submitting a business financing or real estate development project proposal to the KCMO CDE, interested businesses and real estate development bodies are encouraged to review the NMTC program guidelines and application process at kcmocde.org