CDFI Fund

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

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:

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.

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.”

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!