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WCDLF receives $100MM in New Markets Tax Credits (April 2004)

MILWAUKEE, WISCONSIN - The Wisconsin Community Development Legacy Fund, LLC ("WCDLF") has been awarded $100 million in New Market Tax Credits by the US Department of the Treasury's Community Development Financial Institutions Fund. WCDLF is a unique public/private partnership that has been formed to stimulate investment in low and moderate income areas throughout the State of Wisconsin. The New Market Tax Credit program allows investors in qualifying projects to receive a tax credit for making investments that promote economic development.

WCDLF brings together several Wisconsin based public and private enterprises that have committed to fostering investment in low income areas of Wisconsin. These entities include the Wisconsin Housing and Economic Development Authority, Legacy Bancorp, Inc., Impact Seven, and Waveland Ventures, LLC. WCDLF will utilize the NMTC award to offer a variety of products including commercial real estate loans, business loans, loan purchase pools and equity investments in small businesses. It will also provide technical assistance to small businesses. WCDLF received the second largest award of any state based allocatee and the 10th highest award overall nationwide.

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