CDFI Fund

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

This week House Committee on Appropriations Subcommittees will hold two housing-related hearings. On Tuesday, Feb. 26 at 10 am the Financial Services and General Government Subcommittee will hold a hearing on “Leveraging Private Capital For Underserved Communities and Individuals: A Look Into Community Development Financial Institutions” in the Rayburn House Office Building, room 2362-A. On […]

NH&RA joined a letter led by the National Housing Conference, the National Low Income Housing Coalition, the Capital Magnet Fund Coalition, LISC and the Opportunity Finance Network which calls on the Acting Director of the Federal Housing Finance Agency to continue making allocations to the Capital Magnet Fund (CMF) and the national Housing Trust Fund (HTF).

The Community Development Financial Institutions (CDFI) Fund awarded 38 organizations $142.9 million through the FY 2018 round of the Capital Magnet Fund. The 38 awardees were selected after a merit-based competitive review of applications submitted from 116 organizations, which requested more than $570 million in awards this round of the Capital Magnet Fund.

The Community Development Financial Institutions (CDFI) Fund and Office of the Comptroller of the Currency are holding a two-day workshop for potential FY 2019 Qualified Issuer and Guarantee applicants on Feb. 25 & 26, 2019.

The Community Development Financial Institutions (CDFI) Fund announced that the allocation awards announcement for the calendar year 2018 round of the new markets tax credit (NMTC) is delayed until spring 2019, due to the recent government shutdown.

Senate Banking, Housing and Urban Affairs Committee Chairman Mike Crapo (R-ID) released an outline for housing finance reform legislation. In a statement Chairman Crapo said, “we must expeditiously fix our flawed housing finance system. My priorities are to establish stronger levels of taxpayer protection, preserve the 30-year fixed rate mortgage, increase competition among mortgage guarantors, and promote access to affordable housing.” 

Annie Donovan announced that she will step down as the director of the Community Development Financial Institutions (CDFI) Fund at the U.S. Department of the Treasury. Donovan will be replaced by Jodie Harris in January.

On September 25, 2018 Sen. Elizabeth Warren (D-Mass.), introduced the American Housing and Economic Mobility Act of 2018 which would dramatically expand funding for the for affordable housing. The measure aims to use federal funding as  leverage to build up to 3.2 million new housing units for lower-income and middle-class families – bringing down rents […]

Earlier this summer, the CDFI Fund announced that it was integrating award recipient reporting into the Award Management Information System (AMIS). I am very happy to report that the transition is now complete and the Community Investment Impact System (CIIS), is officially retired. Going forward, award recipients will now submit reports—including Institutional Level Reports (ILRs), […]

Applicants requested an aggregate total of $14.8 billion in NMTC allocation authority, over four times the $3.5 billion in authority available for the 2018 round.

Any project that has received 9% or 4% Low Income Federal Housing Tax Credits (LIHTC) can use this for acquisition, new construction, and rehabilitation.

Applications are due September 17.