The U.S. Department of the Treasury’s Community Development Financial Institutions Fund Thursday announced New Markets Tax Credit (NMTC) authority for investments totaling $130 million will be given to three Massachusetts-based community development entities (CDEs). The agency will provide this tax credit allocation authority under the tenth award round of the NMTC Program.

The three organizations that received the credits included The Community Builders CDE LLC, MHIC NE New Markets CDE II LLC and MassDevelopment New Markets LLC.

"The New Markets Tax Credit addresses one of the most significant obstacles to economic development that low-income communities face: a lack of access to patient, private investment capital," said Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri in a statement. "The $31 billion worth of tax credit investments nationwide in past years have gone toward preserving jobs and bringing community facilities and new businesses into neighborhoods that desperately needed them. I expect today’s awardees will continue that trend."