CDFI Fund

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.

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.

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.

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.

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.

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). 

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.

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.

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.

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 […]

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).

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.