CDFI Fund

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

After the recent closing of a $7 million equity investment in a 200-unit affordable housing property located in Vancouver, WA, Candeur Group surpassed $450 million in affordable housing investments. Candeur is an investment banking firm for the affordable housing industry providing financial products to developers for affordable syndication and preservation.

Former Representative Beto O’Rourke (D-TX) released his presidential housing plan, which calls for creating 3 million new homes through the National Housing Trust Fund; creating 3 million new homes through a $60 billion investment in the Capital Magnet Fund and investing $50 billion to rehab public housing; fully fund Housing Choice Vouchers. If elected president, […]

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the application data for the fiscal year (FY) 2019 round of its Capital Magnet Fund program. A total of 113 organizations submitted applications requesting more than $522 million in funding. The applicants propose to serve 49 states, the District of Columbia and Puerto Rico.  In total, 58 percent of the applicants are certified Community Development Financial Institutions (CDFIs), and the remaining 42 percent of the applicants are nonprofit affordable housing organizations.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2019 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $3.5 billion in tax credit allocation authority available for the CY 2019 round.

The Community Development Advisory Board will hold an open meeting on September 23, from 9 am  3 pm EST at the Department of the Treasury. The meeting will be open to the public who may either attend the meeting in-person (the venue will accommodate up to 50 members of the public on a first-come, first-served basis) or view it as a live webcast. W

The Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) recently opened the FY 2019 funding round for the Capital Magnet Fund (CMF) with an anticipated $130.8 million available for awards.

The Local Initiatives Support Corporation (LISC) announced Annie Donovan, former director of the federal Community Development Financial Institutions Fund (CDFI Fund), as its new chief operating officer.

Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $3.5 billion in New Markets Tax Credits (NMTC) for 73 Community Development Entities (CDEs). Congratulations to the ten NH&RA members that received NMTC awards!

Chairman David Perdue (R-GA) and Ranking Member Bob Menendez (D-NJ) of the Senate Banking subcommittee on Housing, Transportation, and Community Development Subcommittee introduced S.1463, a bill to establish a scorekeeping rule to ensure that increases in guarantee fees of Fannie Mae and Freddie Mac shall not be used to offset provisions that increase the deficit.

The Federal Housing Finance Agency (FHFA) announced the authorization of disbursements from Fannie Mae and Freddie Mac to the National Housing Trust Fund (NHTF) and Capital Magnet Fund (CMF). The NHTF will receive $244.86 million and the CMF will receive 131.84 million.

The Community Development Financial Institutions Fund (CDFI) Fund updated its Frequently Asked Questions (FAQ) document for New Markets Tax Credit (NMTC) Program compliance. This document supersedes the May 2017 publication of the FAQ document by adding, revising, or updating select questions from the earlier edition.

The Treasury’s Community Development Financial Insinuations (CDFI) Fund released its fiscal year (FY) 2018 Year in Review. CDFI Program award recipients last year reported $11.1 billion of lending and investment activity – an increase of nearly 50 percent over the activity reported in FY 2017.