The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today re-opened the fiscal year (FY) 2018 application period for the CDFI Bond Guarantee Program. Recognizing the Consolidated Appropriations Act, 2018, has extended the CDFI Bond Guarantee Program statutory authority until December 31, 2018, the CDFI Fund has decided to amend the existing Notice of Guarantee Authority (NOGA) and re-open the round to provide an opportunity for additional applicants to apply. A total of up to $500 million in bond guarantee authority is available to eligible Community Development Financial Institutions (CDFIs) in FY 2018.
Through the CDFI Bond Guarantee Program, selected certified CDFIs or their designees will issue bonds that are guaranteed by the Federal government and use the proceeds to extend capital for community development financing and long-term community investments. Authorized uses of the loans financed through bond proceeds may include a variety of financial activities, such as supporting commercial facilities that promote revitalization, community stability, and job creation/retention; housing that is principally affordable to low-income people; businesses that provide jobs for low-income people or are owned by low-income people; and community or economic development in low-income and underserved rural areas.
Bond issues have a minimum size of $100 million each, up to an aggregate total of $500 million. Multiple CDFIs may pool together in a single $100 million minimum bond issuance provided that each eligible CDFI participates at a minimum of $10 million.
Application Materials
Application materials are available on the CDFI Fund’s website at www.cdfifund.gov/bond under the How To Apply section by clicking Step 2: Apply. Application materials are also available through the CDFI Fund’s Award Management Information System (AMIS).
Please note that there are no material changes to this amended FY 2018 NOGA from the FY 2018 NOGA published in the Federal Register on November 2, 2017, and the amended NOGA published on January 18, 2018.
Deadlines
Please reference the amended NOGA and application instructions for detailed information regarding the following application deadlines for consideration for FY 2018 bond guarantee authority.
- Qualified Issuer Applications must be submitted through AMIS by 11:59 p.m. ET on July 12, 2018.
- Guarantee Applications must be submitted through AMIS by 11:59 p.m. ET on July 12, 2018.
- The last day the CDFI Fund will accept questions regarding the FY 2018 application period for the CDFI Bond Guarantee Program is July 5, 2018, at 11:59 p.m. ET. All questions must be submitted electronically to the program office at bgp@cdfi.treas.gov.
Learn About Applying to the CDFI Bond Guarantee Program
Pre-recorded presentations on the CDFI Bond Guarantee Program are available on the CDFI Fund’s website. These presentations can be found on the CDFI Bond Guarantee Program webpage at www.cdfifund.gov/bondunder the How To Apply section by clicking Step 2: Apply.
The CDFI Fund will conduct two one-hour conference calls to answer application questions. No presentations will be given during the calls; only questions from potential applicants will be addressed. The conference calls will be held on:
- Thursday, June 14, 2018 from 10:00 to 11:00 a.m. ET
- Thursday, June 14, 2018 from 1:00 to 2:00 p.m. ET
The dial-in number and passcodes are the same for both calls. The dial-in number is 1-888-989-6488 and the pass code is 4113114. No prior registration is necessary. Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Jay Santiago at 202-653-0300 no later than 48 hours before the conference calls begin.
Questions
Inquiries regarding legal documents related to the CDFI Bond Guarantee Program should be directed to the CDFI Fund’s Office of Legal Counsel via email at legal@cdfi.treas.gov.
For more information about the CDFI Bond Guarantee Program, please visit www.cdfifund.gov/bond, or email the CDFI Fund’s Help Desk at bgp@cdfi.treas.gov.