CDFI Fund: Public Comments Sought on the NMTC Allocation and Qualified Equity Investment Tracking System
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Allocation and Qualified Equity Investment Tracking System (AQEI). The NMTC Program provides an incentive to investors in the form of tax credits over a seven year period and stimulates the…
CDFI Fund: CY 2022 Round of New Markets Tax Credit Program Opened
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2022 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
CDFI Fund: Opportunity Open to Comment on the New CDFI Certification Application
In October, the Community Development Financial Institutions Fund (CDFI Fund) provided a preview of the revisions to the new CDFI Certification Application. The CDFI Fund published the preview in advance of the Office of Management and Budget (OMB) releasing the updated application for a final round of public comment. The revised CDFI Certification Application is now available…
CDFI Fund: $5 Billion in New Markets Tax Credits Awarded to Revitalize Low-Income and Distressed Communities
Treasurer of the United States Chief Lynn Malerba, joined by U.S. Senators Benjamin L. Cardin and Chris Van Hollen, U.S. Representative Kweisi Mfume, and Community Development Financial Institutions Fund (CDFI Fund) Director Jodie Harris, today announced more than $5 billion in New Markets Tax Credit (NMTC) awards nationwide. Speaking at the recently redeveloped Lexington Market,…
CDFI Fund: Request for Public Comment Issued on CDFI Certification Target Market Verification
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning pre-approved Target Market assessment methodologies related to the Community Development Financial Institution (CDFI) Certification process. To be a Certified CDFI, an entity must demonstrate that it serves at least one eligible Target Market (either an Investment Area or…
CDFI Fund: Summary Report and Public Data for NMTC Program for FY 2003-2020 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a Summary Report and data collected on all New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2020. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an…
CDFI Fund: Preview of Revisions to the New CDFI Certification Application Available
Release is in Advance of Further Request for Comments coming from OMB In May 2020, the Community Development Financial Institutions Fund (CDFI Fund) requested public comment on the application and reporting requirements for Certified Community Development Financial Institutions (CDFIs). The CDFI industry overwhelmingly responded and submitted 55 letters with over 600 unique comments to proposed changes to…
CDFI Fund: $355 Million in Bond Funding Announced for Projects in Low-Income Communities
U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that Treasury has agreed to issue three guarantees totaling $355 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program. The guarantees will be issued on behalf of five Eligible CDFIs under the fiscal year (FY) 2022 round of the…
FHFA: Annual Report on Low-Income Housing and Community Development Activities at the FHLBs Released
Today, the Federal Housing Finance Agency (FHFA) released its annual report on the low-income housing and community development activities of the Federal Home Loan Banks (FHLBanks). The report highlights the FHLBanks’ activities and performance in 2021 through the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA)….
CDFI Fund: FY 2022 Small Dollar Loan Program Awards Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded more than $11.4 million in grants to Community Development Financial Institutions (CDFIs) today through the fiscal year (FY) 2022 round of the Small Dollar Loan Program (SDL Program). The awards will help expand consumer access to financial institutions by providing alternatives…