I second not recommending nVelocity. It is a horrible port.
.NET actually has built in templating abilities by using CodeDOM.
Here is a pretty good walkthrough of how to do it:
http://www.codeproject.com/KB/cs/smarttemplateengine.aspx
With some minor coding, you'll be able to create templates that have inline C#:
My Report
<% foreach (ReportRow r in ReportData) { %>
<% } %>