Fiscal Year 2009 Round of CDFI Program Opens

August 12, 2008

Washington, DC - The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund today released its Fiscal Year 2009 Notice of Funds Availability (NOFA) for the CDFI Program. This annual funding notice provides up to $54 million in appropriated funds, subject to final appropriations, in the form of awards to community-based organizations, known as community development financial institutions - or CDFIs. These CDFIs provide affordable financing and related services to low-income communities and populations that lack access to credit, capital and financial services.

To make this funding opportunity available to the public as soon as possible, the CDFI Fund is posting the NOFA electronically on the Grants.Gov website (www.grants.gov) in advance of the Federal Register publication on Friday, August 15, 2008. Potential applicants are strongly encouraged to read this funding notice thoroughly. Additional guidance can be found on the CDFI Fund’s website.

"I am happy to announce the opening of the 2009 award round of this critically important program. In these turbulent times, building the capacity of CDFIs serving the nation’s distressed communities is more important than ever," said CDFI Fund Director Donna J. Gambrell. "We are opening this award round almost three weeks earlier than last year in order to provide applicants more time to prepare. In the coming months I look forward to sharing with our stakeholders additional steps the CDFI Fund will be taking to ensure that our programs operate as efficiently and effectively as possible in order to get these resources into the nation's distressed communities as quickly as possible."

CDFI Program Overview

Through the CDFI Program, the CDFI Fund invests in and supports CDFIs. Applicants can apply for financial assistance, technical assistance, or a combination of both through this single application. Through financial assistance awards, the CDFI Fund invests in certified CDFIs that demonstrate they have the financial and managerial capacity to: 1) provide affordable and appropriate financial products and services that positively impact the low-income communities they serve; 2) be viable financial institutions; and 3) use and leverage CDFI Fund award dollars effectively. Through technical assistance grants, the CDFI Fund enables certified CDFIs and established entities seeking to become certified CDFIs within three years to build their organizational capacity by acquiring prescribed types of products or services. Please refer to the NOFA for more detailed information regarding these categories.

Deadlines

Since its creation in 1994, the CDFI Fund has awarded $864 million to CDFIs, community development organizations and financial institutions through CDFI Program, the Bank Enterprise Award (BEA) Program, and the Native Initiatives. In addition, the CDFI Fund has allocated $16 billion in tax credit authority to community development entities (CDEs) through the NMTC Program.

• The CDFI Program application deadline is 12:00 midnight Eastern Daylight Time on October 29, 2008.
• An Applicant seeking financial assistance that is not currently certified as a CDFI must first submit a CDFI certification application by 12:00 midnight Eastern Daylight Time on October 1, 2008.

Application Materials

Click Here for FY 2009 CDFI Program Application Materials

Learn About Applying to the CDFI Program

Those interested in learning more about the FY 2009 funding round of the CDFI Program can do so in the following ways:

• Webcast: To access the FY 2009 CDFI Program Application webcast, visit: www.cdfifund.gov/how_to_apply/, or
  
  
• In-Person Application Workshop: The CDFI Fund is sponsoring three in-person Application Workshops. CDFI Fund staff will conduct these workshops in-person and be available to answer questions.
  
  

  Monday, August 18, 2008 - Chicago, IL
  
  The Palmer House Hilton
  17 East Monroe Street
  Chicago, Illinois 60603
  
  Ashland Room
  4:30 to 7:30 p.m.
  
  Note: This Application Workshop is being held in conjunction with the Neighborworks Training Institute. Though this Application Workshop is offered as one of the sessions at the institute, members of the public may attend this specific session free of charge.

  Wednesday, September 10, 2008 - Washington, DC
  
  Hyatt Regency Crystal City
  2799 Jefferson Davis Highway
  Arlington, Virginia 22202
  
  Washington Salon B
  1:00 to 4:00 p.m.
  
  Note: This Application Workshop is being held in conjunction with the CFED Assets Learning Conference. Though this Application Workshop is offered as one of the sessions at the conference, members of the public may attend this specific session free of charge.

  Friday, September 19, 2008 - Denver, CO
  
  Sheraton Denver Hotel
  1550 Court Place
  Denver, Colorado 80202
  
  Denver Room
  Session #1: 9:00 a.m. to 12:00 noon
  Session #2: 2:00 to 5:00 p.m.
  
  Note: The CDFI Fund is offering two identical Application Workshops in Denver. The content does not differ between the morning and afternoon sessions.

  Registration
  Anyone wishing to attend one of the In-Person Application Workshops must register through the CDFI Fund’s on-line registration system. The registration period is currently open. To register, please visit: www.cdfifund.gov/news_events/workshopregistration.asp.

Questions

For more information on the CDFI Program or the Application Webcast and Workshops, please contact the CDFI Fund’s Office of Policy and Programs by e-mailing cdfihelp@cdfi.treas.gov or by calling (202) 622-6355.

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