A 1947 topographic map of the Reading, Pennsylvania area. (Photo credit: Wikipedia)
Lancaster-based Community First Fund announced Wednesday that it has received $15 million from the federal New Markets Tax Credit program enticing investors to bring jobs to low-income areas, including Reading.
“Those in the New Markets Tax Credit world know how big a deal this is,” Daniel Betancourt, fund president and chief executive, said at a news conference in the offices of Berks County Community Foundation, Third and Court streets.
Betancourt said the award will significantly increase investment in the region’s lowest-income communities, especially Reading.
The Community First Fund, which has an office at 505 Penn St., was among 85 organizations in the nation getting a share of $3.5 billion in this year’s round. There were 282 applicants.
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