An economic development group will announce on Wednesday its allocation of a multi-million dollar New Market Tax Credits investment toward funding a project in York City's Central Business District.

Community First Fund, which was awarded a $30 million allocation of credits from the U.S. Department of Treasury in June, is holding a press conference at 1 p.m. Wednesday at the corner of Beaver and Market streets with Royal Square Development, which is receiving $8.5 million in credits.