OCC: Acting Comptroller Discusses Importance of CDFIs and MDIs
Acting Comptroller of the Currency Michael J. Hsu today discussed the importance of community development financial institutions (CDFI) and minority depository institutions (MDI) at the 2022 Community Development Bankers Association Peer Forum. In his remarks, the Acting Comptroller highlighted initiatives to revitalize MDIs and increase investments in CDFIs, and the Office of the Comptroller of…
HUD: FHA Insures $65.5 Million Mortgage for Energy Efficient Transit-Oriented Development in Roselle, IL
Insurance endorsement provided by FHA supports creation of 295 new construction rental homes The Federal Housing Administration (FHA) announced today, April 21, that it has closed on a $65.9 million loan insured under FHA’s 221(d)(4) New Construction Mortgage insurance program for Metro 19 Apartments in Roselle, Illinois. The insured loan will help finance the construction…
HUD: $10.3 Million Loan Guarantee Announced for Los Angeles County for Vermont Manchester Commercial Project
The U.S. Department of Housing and Urban Development (HUD) today announces a $10.3 million loan guarantee for the County of Los Angeles, California for the Vermont Manchester Commercial Project. The loan guarantee will be used to finance the development of a new 64 thousand square foot community-serving retail space within the Vermont Manchester Transit Priority…
HUD: $5 Million Loan Guarantee Announced for St. Johns County for Construction of Multipurpose Community Center
Loan guarantee will provide financing for the construction and planning costs, site development, and construction of a multipurpose community center and library facility. The U.S. Department of Housing and Urban Development (HUD) today announced a $5,075,000 loan guarantee to St. Johns County, Florida to help finance the construction of the Hastings Community Center and Library…
HUD: $1.1 Million Loan Guarantee Announced for Berks County to Renovate Commercial Building, Expand Business
Loan guarantee will provide financing for the rehabilitation and renovation of a commercial property that will retain current jobs and create new employment opportunities. The U.S. Department of Housing and Urban Development (HUD) today announced a $1,100,000 loan guarantee to Berks County, Pennsylvania to assist the Berks County Nonprofit Development Corporation (BCNDC) with the financing…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Kansas City, MO to Create Mixed-Income Community
Transaction is final part of seven-phase Paseo Gateway redevelopment process The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 25closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of Kansas City, Missouri (HAKC) and Brinshore Development, to create 62 mixed-income homes at the new Sam Rodgers Place. Sam…
CDFI Fund: Application Demand for CY 2021 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 199 applications under the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
HUD: Joint Effort Launched with Puerto Rico to Modernize Energy Grid
2022 Actions Include Taking Ongoing Projects to Construction Phase, Investments in Grid Reliability, a Roadmap for 100% Clean, Affordable and Reliable Power Across Puerto Rico The U.S. Department of Housing and Urban Development (HUD) today joined the Departments of Energy (DOE) and Homeland Security (DHS) and the Commonwealth of Puerto Rico to launch a new…
SBA: Updated Guidance Announced Regarding Deadline for Targeted EIDL Advance Program Reevaluations
Submissions for Targeted Advance Reevaluation Requests Due by Feb. 15 Today, the U.S. Small Business Administration (SBA) announced updated guidance for those small businesses that have already applied for the Targeted EIDL Advance program, received a decline, and are interested in applying for reevaluation. Specifically, the following updated guidance is being provided: Current Targeted EIDL Advance applicants: Those…