CDFI Fund

General News

CDFI Fund Hosts Call for CDFIs in ACR-Related Cure Period – Aug. 10

The Community Development Financial Institutions Fund (CDFI Fund) is holding an informational conference call from 3 to 4 p.m. ET on August 10 for Community Development Financial Institutions (CDFIs) currently in a Certification cure period related to the submission of a 2021 or 2022 Annual Certification and Data Collection Report (ACR).

Treasury

CDFI Fund Pauses Acceptance of New CDFI Certification Applications, Target Market Modifications

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) will pause acceptance of new CDFI Certification Applications and requests for Target Market modifications for a period of six months beginning on Oct. 1, 2022.

Treasury

CDFI Fund Releases Updated Program Eligibility Information

The Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has established a plan for releasing updated program eligibility information based upon Census Bureau data from the 2016-2020 American Community Survey (ACS).

HUD

President Biden Releases FY2023 Budget Request

On Monday, the White House released its FY 2023 budget proposal, which requests $71.9 billion in discretionary funding for HUD and $50 billion for “Addressing Cost Pressures and Expanding Economic Capacity.”  

General News

FHFA Announces More than $1.1 Billion for Affordable Housing Programs

Federal Housing Finance Agency Acting Director Sandra L. Thompson announced the Housing Trust Fund (HTF) and the Capital Magnet Fund (CMF) will receive a total of $1.138 billion for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises).

Treasury

Application Demand for CY 2021 Round of the NMTC Program Released

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced that it received 199 applications under the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program).

General News

Updated NMT Application FAQs

The Community Development Financial Institutions Fund (CDFI Fund) updated Application FAQ in response to specific questions raised during a webinar.

General News

RFP for NMTC Program Native Initiative Due Nov. 19

The Community Development Financial Institutions Fund released a Request for Proposal related to a procurement that is part of a broader effort to increase New Markets Tax Credit investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands and Alaskan Native Village Statistical Areas.

General News

CDFI Fund Opens CY 2021 NMTC Allocation Round; Application Deadline Jan. 13, 2022

The Community Development Financial Institutions (CDFI) Fund released a notice of allocation availability (NOAA) for the $5 billion calendar year 2021 allocation round of the New Markets Tax Credit (NMTC) program, along with application materials and an updated application FAQ document.

General News

Comments on CDFI Fund’s Bond Guarantee Program Materials Due November 15

The Community Development Financial Institutions Fund (CDFI Fund) is soliciting comments concerning its Bond Guarantee Program’s information collection.

Member News

NH&RA Members Among CDFI NMTC Awardees

The U.S. Department of the Treasury’s Community Development Financial Institution Fund (CDFI) announced $5 billion in New Market Tax Credits.

QAP Connecticut

CHFA’s Affordable Housing Fund (Capital Magnet Fund + CHFA’s matching investment)

A pool of up to $6,000,000 is available for proposed developments that satisfy Capital Magnet Fund (CMF) program requirements specific to CHFA, which, among other requirements, includes: 

1. Resident population: Minimum set-asides for households with incomes less than 50 percent of area median income; 
2. Location: Eligible proposed developments must be located in areas of economic distress and 
3. Leverage: Eligible proposed developments must achieve a private leverage capital ratio of 10:1. 

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