EDA: Over $54 Million in American Rescue Plan Funds Invested Last Week
Last week, the following grants were made under the American Rescue Plan Funds program: August 16, 2022 – U.S. Department of Commerce Invests $6.4 Million in American Rescue Plan Funds to Develop a New Business Facility in Duffield, Virginia August 16, 2022 – U.S. Department of Commerce Invests $4.5 Million in American Rescue Plan Funds for Wastewater…
HUD: $34 Million Loan Guarantee Awarded to Cincinnati, OH for Affordable Housing
The U.S. Department of Housing and Urban Development (HUD) today announced a $34 million loan guarantee for Cincinnati, Ohio for the Affordable Housing Loan Fund Project to spur the creation of more affordable housing. This upfront source of financing, awarded through HUD’s Section 108 Loan Guarantee Program (Section 108) program, is the lynchpin of the…
HUD: $41 Million Awarded to Boost Local Affordable Housing and Community Development Efforts
The U.S. Department of Housing and Urban Development (HUD) announced today that it will make available $41 million for local affordable housing and community development activities that benefit people with low-incomes. The funding is being awarded through HUD’s Capacity Building for Affordable Housing and Community Development program, also known as Section 4. “President Biden’s top…
FHFA: 2023-2024 Multifamily Housing Goals Proposed for Fannie Mae and Freddie Mac
Today, the Federal Housing Finance Agency (FHFA) proposed new benchmark levels for the multifamily housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2023 and 2024. The rule proposes a new methodology for measuring the Enterprise multifamily housing goals. Rather than measuring the multifamily housing goals based on a number of units, the proposed rule would use…
Federal Reserve: Board Provides Additional Information for Banks on Crypto-Asset-Related Activities
The Federal Reserve Board on Tuesday provided additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities. The emerging crypto-asset sector presents potential opportunities to banking organizations, their customers, and the overall financial system; however, crypto-asset-related activities may also pose risks related to safety and soundness, consumer protection, and financial stability. The…
EDA: Grantees Announced Under 2022 University Center Competition
26 Colleges and Universities in EDA’s Atlanta and Seattle Regions to Host EDA University Center Economic Development Technical Assistance Programs; Nearly One-Third of Selected Institutions Are Minority Serving U.S. Secretary of Commerce Gina Raimondo today announced the grantees of the U.S. Economic Development Administration’s (EDA) 2022 University Center Economic Development Program Competition. EDA is providing…
HUD: Deputy Secretary Travels to Alaska to Focus on Tribal Housing Supply
Nearly $285 million in HUD funding has been awarded to Tribal entities in Alaska over the past two years with more funding on the way The U.S. Department of Housing and Urban Development’s (HUD) Deputy Secretary Adrianne Todman was in Alaska this week to discuss Tribal housing supply with local leaders and organizations across the…
HUD: $10 Million Funding Opportunity Announced for Capacity Building in Rural America
Rural Capacity Building grants help non-profits build capacity to create affordable housing and stimulate community development in rural areas The U.S. Department of Housing and Urban Development (HUD) announced today that it will make available $10 million in Rural Capacity Building grants. The Rural Capacity Building (RCB) program enhances the capacity and ability of rural…
FHFA: Results of Fannie Mae and Freddie Mac Dodd-Frank Act Stress Tests Released
The Federal Housing Finance Agency (FHFA) today released a report providing the results of the annual stress tests that Fannie Mae and Freddie Mac (the Enterprises) are required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). As amended, the Dodd-Frank Act requires certain financial institutions with more than $250…
CDFI Fund: Upcoming FY 2022 CDFI Equitable Recovery Program Deadlines Announced
As a reminder for FY 2022 CDFI Equitable Recovery Program (CDFI ERP) applicants, the deadline for online submission of the SF-424 through Grants.gov for this year’s CDFI ERP funding round is August 18, 2022 at 11:59 PM ET. Applicants must create an Awards Management Information System (AMIS) account and enter their Employer Identification Number (EIN)…