Applying New Market Tax Credits to Commercial and Multi-Family Real Estate

[Jackson Foutch]

Has anyone in the Kansas/Missouri area dealt with New Market Tax Credits? 

I have a project coming up in Ottawa, Kansas and heard something about New Market Tax Credits so, I was interested to see if I can apply them to my project. Background info, it's a 45 unit multi-family complex that has a couple thousand sq ft. of retail space inside as well. I am finding that if retail space drives 20% of gross revenue, then you are eligible for these credits. But now, I'm also curious to see if these credits can simply apply to residential properties without retail space?

Any information or feedback would be much appreciated!