Revitalization

CDFI Fund: Public Comments Sought on NMTC Program Allocation Application

The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the…

HUD: $2 Million Awarded to Revitalize Smaller Communities and Develop Affordable Housing

Grants will rejuvenate older downtown business districts and develop affordable housing while retaining the area’s historic character. Today, the U.S. Department of Housing and Urban Development (HUD) announced that a total of three grantees will receive an award for a combined $2 Million in 2023 Hope VI Main Street grants. These grants will assist small…

CDFI Fund: Update to NMTC Program Compliance FAQs Released

The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Compliance Frequently Asked Questions (FAQs) document for the New Markets Tax Credit Program (NMTC Program) on its website. This document supersedes the December 2022 publication of the FAQs document by adding, revising, or updating select questions from the earlier edition. Updates include: The updated FAQ…

CDFI Fund: CY 2023 Round of New Markets Tax Credit Program Opens

$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) 2023 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…

EDA: $1.3 Million Invested to Support Redevelopment of Jackson Avenue in Historic Westside Las Vegas, NV

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $1.3 million grant to the city of Las Vegas, Nevada, to support planning for the future redevelopment of Jackson Avenue as part of ongoing efforts to catalyze community-led investment in the city’s historic Westside.  This grant will assist…

CDFI Fund: $5 Billion in New Markets Tax Credit Awards Announced

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 102 Community Development Entities (CDEs) were awarded tax credit allocations, made through the calendar year (CY)…

HUD: 29 Waivers Rolled Out to Accelerate Hurricane Idalia Recovery Efforts in Florida

Secretary Fudge affirms HUD’s commitment to support post-disaster resilience with unprecedented aid from the Biden-Harris Administration The U.S. Department of Housing and Urban Development (HUD) announced today a package of 29 regulatory and administrative waivers aimed at helping communities in Florida accelerate their recovery from Hurricane Idalia. Today’s announcement of regulatory and administrative waivers issued by the…

Agencies Extend Favorable CRA Consideration for Revitalization Activities in Puerto Rico and U.S. Virgin islands Affected by Hurricane Maria

The federal bank regulatory agencies today announced they are extending the period for giving favorable consideration under their Community Reinvestment Act (CRA) regulations to institutions located outside of Puerto Rico and the U.S. Virgin Islands, for bank activities that continue to help revitalize or stabilize these areas devastated by Hurricane Maria. The agencies have determined…

HUD: $256 Million Available in New Choice Neighborhoods Funding

Future awardees will revitalize public and/or HUD-assisted housing, surrounding neighborhoods. Today, the U.S. Department of Housing and Urban Development (HUD) announced the availability of $256 million in Choice Neighborhoods Implementation (CNI) Grants funding to communities across the country. The CNI Grants will ultimately transform public and other HUD-assisted housing, while investing in the surrounding neighborhood and resident…

EDA: $2 Million Invested to Support Revitalization of Downtown Madawaska, ME

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2 million grant to the town of Madawaska, Maine, to redevelop the town’s downtown plaza. Revitalization of Madawaska’s downtown plaza, including the expansion of the Farmers Market, renovation of a vacant building to house co-working offices, and transportation…