What do New Markets Tax Credits ("NMTC") 1 mean to a qualifying project? Here are a few thoughts: (i) a project, which has acquired traditional debt, invested its own equity, and secured additional incentives, but still falls short of its total financing needs, can make up the "gap" by accepting a capital injection that does not require repayment; (ii) the opportunity to gain access to non-conventional financing, with lower than market fixed interest rates, higher loan-to-value ratio and lower debt service coverage, with seven years of interest-only payments; and (iii) low cost capital for impactful projects that benefit economically distressed communities which can provide a