CDFI Fund

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. 

Member News

Cinnaire, CDFI Friendly America Launch Career Opportunities Web Series

Cinnaire and CDFI Friendly America announced they have joined forces to launch Impact Jobs: CDFIs 101 for Young Professionals, a four-part virtual learning series beginning May 5.

General News

CDFI Fund 2021 Calendar

Over 2021, the Community Development Financial Institutions (CDFI) Fund will administer eight program rounds—their six existing programs; the new Small Dollar Loan Program (SDL Program); and the $1.25 billion CDFI Rapid Response Program (CDFI RRP) for COVID-19 pandemic relief.

Member News

Enterprise Plans Investment to Address Racial Inequities

Enterprise Community Partners Inc. announced Dec. 14 it will take part in a $3.5 billion, five-year initiative to counter racial inequities in housing. Enterprise said it will contribute $10 million in capital to seed a $350 million growth fund to attract an additional $3.1 billion for the Equitable Path Forward initiative.

General News

CDFI Funds Releases CY 2020 NMTC Application, Updated FAQs

The Community Development Financial Institutions Fund (CDFI Fund) posted an updated calendar year (CY) 2020 New Markets Tax Credit (NMTC) Program Allocation Application Frequently Asked Questions (FAQs) document and a revised CY 2020 NMTC Program Allocation Application.

NH&RA News

CDFI Fund Awards $204.1 Million via CDFI, NACA Programs

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 397 Community Development Financial Institutions (CDFIs) $204.1 million in awards.

General News

CDFI Fund Publishes 2020 NMTC NOAA

The Community Development Financial Institutions (CDFI) Fund published a notice of allocation availability (NOAA), making $5 billion in New Markets Tax Credit (NMTC) allocation authority available for the 2020 NMTC allocation round. Applications are due November 16.

Member News

Five NH&RA Members Receive New Markets Tax Credit Awards

Congratulations to the NH&RA members that received a New Markets Tax Credit award National Trust Community Investment Corporation, PNC Community Partners, Inc., RBC Community Development, LLC, The Rose Urban Green Fund and USBCDE, LLC.

General News

CDFI Fund FY 2020 Application Reminders

As a reminder for fiscal year (FY) 2020 Capital Magnet Fund applicants, the deadline for online submission of the SF-424 Mandatory through Grants.gov for this year’s funding round is June 26, 2020 at 11:59 pm ET. The deadline for online submission of the rest of the application materials through the CDFI Fund’s Awards Management Information System (AMIS) is July 27, 2020 at 5:00 pm ET.

Treasury

CDFI Fund Opens FY 2020 Capital Magnet Fund Funding Round

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Capital Magnet Fund. The application process consists of two parts: submitting the SF-424 Mandatory form through Grants.gov and submitting the rest of the application through the CDFI Fund’s Awards Management Information System (AMIS). 

General News

Update from CDFI Fund Director Jodie Harris

The Community Development Financial Institutions Fund (CDFI Fund) received questions from organizations about upcoming application and compliance deadlines, and if anything is expected to change. We are taking these requests seriously in light of the unprecedented situation many CDFIs find themselves in today. CDFI Fund staff are routinely evaluating our processes and procedures to ensure they are in alignment with day-to-day impediments that organizations are being forced to navigate.

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