CDFI Fund: FY 2023 Capital Magnet Fund Funding Round Opens

Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2023 funding round for the Capital Magnet Fund. Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to Community Development Financial Institutions (CDFIs) and qualified non-profit housing organizations. These […]

HUD: $4.4 Million in Choice Neighborhoods Planning Grants Announced

Grants will fund community-driven revitalization plans in high-poverty neighborhoods with distressed HUD-assisted housing. Today, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced $4,409,000 in Choice Neighborhoods Planning Grants to nine communities across America. These grants of up to $500,000 each will bring together community partners […]

HUD: Agency Seeking First-of-Its-Kind Input to More Equitably and Accurately Allocate Disaster Recovery Funds

Two new Requests for Information (RFIs) to mark inaugural feedback effort for Community Development Block Grant Disaster Recovery (CDBG-DR) funds The U.S. Department of Housing and Urban Development (HUD) today released two new Requests for Information (RFIs), marking the first time the Department has asked the public for feedback on […]

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 […]

Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

Federal bank regulatory agencies today made available the 2022 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration pursuant to the definition of community development under the agencies’ regulations. Visit the Federal Financial […]

CDFI Fund: $26 Million in BEA Funds Awarded to Banks that Increased Investments in Severely Distressed Communities

Recipients Collectively Increased Lending and Services to Nation’s Most Distressed Areas by over $1.1 billion The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today $26 million in awards to 158 FDIC-insured banks, through the fiscal year (FY) 2021 round of the Bank Enterprise Award […]

CDFI Fund: Application Demand for FY 2021 Round of BEA Program Released

Over $1.1 Billion in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2021 round of its Bank Enterprise Award Program (BEA Program). A […]

CDFI Fund: $180.3 Million Awarded to Support CDFI Investment in Low-Income and Distressed Communities

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 265 Community Development Financial Institutions (CDFIs) $180.3 million in Financial Assistance (FA) awards today. The awards, through the fiscal year (FY) 2021 round of the Community Development Financial Institutions Program (CDFI Program) and the Native American […]

HUD: $3.6 Million Awarded for Neighborhood Revitalization Plans in Eight Communities

The U.S. Department of Housing and Urban Development (HUD) on Monday announced $3.6 million has been awarded to eight communities to support comprehensive neighborhood revitalization plans to redevelop severely distressed HUD-assisted housing, improve outcomes for residents, and bring new amenities to neighborhoods. HUD has named Annapolis, Maryland; Augusta, Georgia; Brownsville, […]

HUD: More than $2 Billion Allocated to Advance Equitable Disaster Recovery, Build Climate Change Resilience

The U.S. Department of Housing and Urban Development today announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery (CDBG-DR) and CDBG-Mitigation (CDBG-MIT) funds appropriated in the continuing resolution, the Extending Government Funding and Delivering Emergency Assistance Act (PL 117-43; the Act), signed into law on September 30, […]