CDFI Fund

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.

General News

CDFI Fund Implements Telework

To protect ourselves and our families from the spread of COVID-19 and in accordance with guidance issued by the Office of Personnel Management, the Community Development Financial Institutions Fund’s (CDFI Fund’s) employees will be utilizing maximum telework flexibilities beginning Tuesday, March 17, 2020.

HUD

Former VP Biden Releases Presidential Campaign Housing Plan

Former Vice President and Democratic presidential candidate Joe Biden released his housing plan, which calls for the expansion of LIHTC authority by $10 billion and the permanent authorization and expansion of the New Markets Tax Credit.

Federal Housing Finance Agency

FHFA Authorizes 2020 Disbursements to Housing Trust Fund, Capital Magnet Fund

The Federal Housing Finance Agency (FHFA) recently authorized Fannie Mae and Freddie Mac to disburse payments to HUD for the Housing Trust Fund (HTF) and to the Treasury Department for the Capital Magnet Fund (CMF). According to FHFA, HTF will receive $326.4 million for the year, while CMF will receive $175.8 million. Last year, HTF […]

General News

Request for Public Comment: CDFI Program, NACA Program and NMTC Program Annual Reports

The Department of the Treasury invites the general public to comment on proposed and/or continuing information collections. Currently, the Community Development Financial Institutions Fund (CDFI Fund) is soliciting comments concerning the Community Development Financial Institutions CDFI Program (CDFI Program), Native American CDFI Assistance Program (NACA Program) and New Markets Tax Credit Program (NMTC Program) Annual Report, including the Awards Management and Information System (AMIS) Compliance and Performance Report (ACPR).

congress-capitol

Trump Administration Releases FY 2021 Budget Request

President Trump’s Administration released the Fiscal Year (FY) 2021 budget request, “A Budget for America’s Future.” HUD is allocated $47.9 billion in funding, a 15.2 percent decrease over FY 2020 enacted levels with notable zeroing out of the HOME program, Community Development Block Grants (CDBG), Public Housing Capital Fund, Choice Neighborhoods and HOPE VI.

Member News

Cinnaire Receives $1 Million CDFI Fund Award

Cinnaire was selected as one of the 184 Community Development Financial Institutions (CDFIs) to receive an award from the U.S. Department of Treasury’s CDFI Fund. The $1 million Financial Assistance award will be used to provide creative loans and flexible financing to support low-income, distressed communities throughout Cinnaire’s footprint

congress-capitol

Chairwoman Waters, Senator Harris Introduce Housing is Infrastructure Act

House Committee on Financial Services Chairwoman Maxine Waters (D-CA) and Senator Kamala Harris (D-CA) introduced the Housing is Infrastructure Act of 2019 (H.R. 5187/S. 2951). The bills contain the following investments in housing:

Treasury

NMTC Summary Report and Public Data for FYs 2003-2017

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a Summary Report and data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2017. Nearly 70 percent of NMTC investments made through 2017 have been concentrated in single/mixed-use real estate, health care and social assistance, manufacturing, and educational services.

HUD

Mayor Buttigeg Releases Housing Plan

Democratic presidential hopeful Mayor Pete Buttigieg (South Bend, IN) released An Economic Agenda for American Families which includes spending $430 billion on affordable housing measures. “He will enable more than 2 million more units of affordable housing to be built or restored where it is needed most, using billions of dollars of investments in the Housing Trust Fund, Capital Magnet Fund, HOME and CDBG funds, and the Low Income Housing Tax Credit.”

[Page 3 of 8 ]