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 $180 million in New Market Tax Credit (“NMTC”) allocation authority from the Community Development Financial Institutions Fund (the “CDFI”) of the U.S. Department of Treasury to stimulate investment and job creation in the St. Louis region – 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 has approximately $50 million in current New Market Tax Credit allocation authority (the “Available Allocation”). HRIF now seeks public input on eligible community development projects within the 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 the Available Allocation in the coming years.

See the full RFP here.
Download Exhibit A – NMTC Intake Form Form (v1) here.

Submission of Proposals
Submissions will be accepted on a rolling basis. HRIF staff will begin reviewing submissions on May 22, 2023. To ensure the earliest consideration of your submission, please submit your proposal no later than May 22, 2023, at 1:00 PM CST. Proposals received after the deadline identified will be considered as received on a rolling basis.

RFP Released on Website May 11, 2023
First Review of Proposals May 22, 2023
Electronic proposals should be sent by email to [email protected] with a copy to [email protected] and [email protected].