CDFI Fund
CDFI Fund Retires CIIS—Compliance Reporting is Live in AMIS
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), […]
New Markets Tax Credit Applications Exceed Authority 4-Fold
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.
Colorado Announces Capital Magnet Fund, Providing up to $750K in Gap Financing, Webinar Aug. 2
Any project that has received 9% or 4% Low Income Federal Housing Tax Credits (LIHTC) can use this for acquisition, new construction, and rehabilitation.
$142 Million Available in 2018 Round of Capital Magnet Fund
Applications are due September 17.
Senate Votes Down Rescissions
Due to procedural rules, Congress had until June 22 to pass the rescissions with a simple majority.
CDFI Fund Opens 2018 NMTC Funding Round, Apps Due June 28
The CDFI Fund recently released the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2018 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 2018 round.
Capital Magnet Fund 2017 Round Awards 40 Organizations $120 Million
The awardees include 25 certified Community Development Financial Institutions and 15 non-profit housing organizations. They will collectively serve 40 states and the District of Columbia.
CDFI Fund Awards $3.5 Billion in New Markets Tax Credits
The Fund received 230 applicants this year requesting a total of $16.2 billion in NMTCs.
Capital Magnet Fund Remains Oversubscribed
120 organizations applied for almost $540 million, with only $119.5 million available in the round.
CDFI Fund Hosts Q&A Sessions on 2018 Bond Guarantee Program – $500M Available to CDFIs
A total of up to $500 million in bond guarantee authority is available to eligible Community Development Financial Institutions (CDFIs) in FY 2018, pending Congressional authorization.
CDFI Fund Releases Updated Program Eligibility Data for NMTC & Capital Magnet Fund
The Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has established a plan for releasing updated program eligibility information based upon Census Bureau data from the 2011-2015 American Community Survey (ACS). Eligibility requirements for the Bank Enterprise Award Program (BEA Program), Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program […]
CDFI Fund Releases Summary Report and Public Data for NMTC Program from 2003-2015
The report found that over 68% of NMTC investments through 2015 could be classified as either single/mixed-use real estate, health care and social services, manufacturing, and education.