NMTCs are very flexible and can be used for almost any kind of business, including manufacturing, downtown real estate development, community centers, health care, essential services, office space, downtown housing over commercial space, and farm, food and forest processing.
The following are exceptions:
- Private or commercial golf courses
- Country clubs
- Massage parlors
- Hot Tub facilities
- Suntan facilities
- Racetracks or other facilities used for gambling
- A store whose principle business is the sale of alcoholic beverages for consumption off-premises
- Farms
- Any trade or business consisting predominantly of the development or holding of intangibles for sale or license
Additionally, less than 80% of gross income must come from rental of dwelling units, and a portion of any residential rental units may be required to be reserved for low-income residents.