RFP - NEW MARKET TAX CREDIT ELIGIBLE COMMUNITY DEVELOPMENT PROJECTS

The Heartland Regional Investment Fund, LLC (“HRIF”) is a certified Community Development Entity, created by the St. Louis Economic Development Partnership (the “Partnership”), the Southwestern Illinois Development Authority, and the City of St. Charles, Missouri.

HRIF has received $260 million in New Market Tax Credit (“NMTC”) allocation authority from the Community Development Financial Institutions (the “CDFI”) Fund of the U.S. Department of Treasury to stimulate investment and job creation in St. Louis, MO-IL – specifically, St. Louis County and the City of St. Charles in Missouri; and Madison, St. Clair, Clinton, and Bond counties in Illinois (the “Service Area”).

HRIF now seeks public input on eligible community development projects within HRIF’s Service Area.

HRIF issues this Request for Proposals (the “RFP”) for developers, business owners, consultants, and other stakeholders to submit shovel ready and conceptually planned community development projects for HRIF’s consideration when deploying its NMTC awards in the coming year(s) (the “Request”).

Selection Criteria
Proposals submitted will be reviewed by the HRIF’s staff for completeness and qualifications. Final selection of any proposals will be made on the basis of the following criteria:
1. Qualifications and experience of the project sponsor
2. The project location’s level of distress
3. Depth, inclusiveness, and alignment of community impacts
4. Thoroughness of community engagement
5. Project readiness
6. Responsiveness to the RFP categories
7. Competitiveness to internally sourced project opportunities
8.Availability of NMTC allocation

Please note all HRIF commitments are subject to final approval by HRIF’s Advisory and Governing Boards, including its managing member, the Partnership.
HRIF actively encourages submission of proposals from disadvantaged business enterprises and companies owned by minorities, women, immigrants, and veterans. HRIF does not discriminate on the basis of race, color, religion, creed, sex, sexual orientation, gender identity, age, ancestry, national origin, disability, or veteran status in consideration of this award. Equal Opportunity Employer.

See RFP Here.

HRIF NMTC Intake Form 2025

Click above to download HRIF NMTC Intake form. Once the form is downloaded, open and change from Review Mode to Edit Mode to make and save your changes.

Review of Proposals Begins:
Monday, March 9, 2026
Heartland Regional Investment Fund
c/o St. Louis Economic Development Partnership
ATTN: Sarah Kroner
AND Attn: Jeff Colona
120 S. Central Avenue, Suite 200
St. Louis, Missouri 63105
SKroner@stlpartnership.com
JColona@stlpartnership.com