Up To $135 million Available to Support Community Development in Low-Income Communities
Application Workshops to Highlight Significant Changes for FY 2011 Round
October 5, 2010
Washington, DC–The U.S. Department of the Treasuryís Community Development Financial Institutions Fund (CDFI Fund) today released its Fiscal Year (FY) 2011 Notice of Funds Availability (NOFA) for the CDFI Program, providing up to $135 million in Financial and Technical Assistance awards, subject to final appropriations, for the FY 2011 funding round. The awards will support Community Development Financial Institutions (CDFIs) providing affordable financing and related services to low-income communities and populations that lack access to credit, capital and financial services.
“I am happy to announce the opening of the FY 2011 award round of our flagship program. The CDFI Program continues to be a critical tool for building the capacity of community-based financial institutions serving low-income communities and the need for their services has never been greater,” said CDFI Fund Director Donna J. Gambrell. “In the FY 2011 award round the CDFI Fund remains strongly committed to getting these resources into distressed communities as efficiently and effectively as possible.”
The $135 million available for the FY 2011 funding round includes $25 million that will be used for Financial Assistance awards under the Obama Administrationís new Healthy Food Financing Initiative (HFFI). In addition to providing details regarding the HFFI Financial Assistance awards, the NOFA includes information on other important changes being implemented this round. Among these are new requirements that all applications be submitted via the Grants.gov portal and that applicants apply for either Financial Assistance or Technical Assistance, but not both as they have done in past years. In the FY 2011 funding round, applicants can also earn priority points for serving highly distressed areas.
The CDFI Fund is posting the NOFA and application materials on the Grants.gov website today. The NOFA posting is in advance of its publication in the Federal Register on October 6, 2010. Applicants are urged to read all application materials and additional guidance and reference copies of the application materials can be found on the CDFI Fund's website.
CDFI Program Overview
Through the CDFI Program, the CDFI Fund invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services. The CDFI Fund invests in certified CDFIs by awarding Financial Assistance awards to applicants who have demonstrated the financial and managerial capacity to provide financial products and services to a low-income target market and to leverage additional resources effectively. Through Technical Assistance grants, the CDFI Fund enables certified CDFIs and emerging entities, working toward certification, to build their capacity as lending institutions.
- The CDFI Program application deadline is November 19, 2010 at 12:00 midnight Eastern Time.
- An applicant seeking Financial Assistance that is not currently certified as a CDFI, or a certified CDFI that is submitting a Material Events Form must submit the relevant information by October 22, 2010 at 5:00 p.m. Eastern Time.
All Applicants must submit their applications electronically through Grants.gov. The CDFI Fund will not accept CDFI Program applications through myCDFIFund accounts nor will applications be accepted via email, mail, facsimile, or other forms of communication. Please see the NOFA for more information on submitting the CDFI Program application, the Certification application and the Material Events Form.
Learn About Applying to the CDFI Program and Major Changes in FY 2011
The CDFI Fund is providing the following opportunities to learn more about this funding round:
- Prerecorded Webinar Application Workshop: The CDFI Fund has recorded the application workshop which covers the same material that will be presented during on-site application workshops. This webinar can be viewed immediately at the following link:
- Conference Calls: The CDFI Fund is conducting four one-hour conference calls to answer applicant questions. Please see the following table for the dates and times for each call. No presentations will be given during the calls; only questions from participants will be addressed.
The log-in number is (202) 927-2255 for all calls, no prior registration is necessary.
|Type of CDFI
|Banks and Thrifts
||Monday, October 18
||Monday, October 18
||Tuesday, October 19
||Tuesday, October 19
- On–site Application Workshops: CDFI Fund staff will conduct application workshops and will be available to answer questions in the cities listed below. A separate application workshop will be conducted for Financial Assistance awards and for Technical Assistance awards. Financial Assistance application workshops will be conducted from 9:00 a.m. to 12:00 noon local time in each city; and Technical Assistance application workshops will be conducted from 1:00 p.m. to 4:00 p.m.
|Tuesday, October 19, 2010
Federal Reserve Bank of Chicago
230 South La Salle Street
Chicago, IL 60604
|Thursday, October 21, 2010
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220
|Tuesday, October 26, 2010
Los Angeles, CA
Federal Reserve Bank of San Francisco
Los Angeles Branch
950 South Grand Avenue
Los Angeles CA 90015
|Friday, October 29, 2010
Federal Reserve Bank of Atlanta
1000 Peachtree Street, NE
Atlanta, GA 30309-4470
Registration: Due to security requirements at these federal facilities,
anyone wishing to attend an application workshop must register
through the CDFI Fund's online registration system. Individuals who
do not pre-register before the applicable registration deadlines and
thus do not appear on the registration lists for each facility will not
be admitted. The registration period is currently open. To register,
For more information on the CDFI Program, the webinar or the application workshops, please contact James Yagley at email@example.com
CDFI Fund Background
The CDFI Fund invests in and builds the capacity of community-based, private, for-profit and non-profit financial institutions with a primary mission of community development in economically distressed communities. These institutions – certified by the CDFI Fund as Community Development Financial Institutions or CDFIs – are able to respond to gaps in local markets that traditional financial institutions are not adequately serving. CDFIs provide critically needed capital, credit and other financial products in addition to technical assistance to community residents and businesses, service providers, and developers working to meet community needs. The CDFI Fund's vision is an America in which all people have adequate access to affordable capital, credit and financial services.
For more information about these awards, or about the CDFI Fund and its programs, please visit the Fund's website at: http://www.cdfifund.gov.