| U.S. Treasury Announces $130.9 Million in Awards for Affordable Housing Nationwide | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=370 | U.S. Treasury Announces $130.9 Million in Awards for Affordable Housing Nationwide | <p>The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 38 organizations $130.9 million today for the development of affordable housing and community facilities in low-income communities. These awards were made through the fiscal year (FY) 2019 round of the Capital Magnet Fund, and will support financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities; as well as related economic development and community service facilities such as day care centers, workforce development centers and health care clinics.</p><p>"I am pleased to recognize the FY 2019 Capital Magnet Fund awardees," said CDFI Fund Director Jodie Harris. "At the CDFI Fund we are committed to expanding economic opportunity for underserved people and communities. The FY 2019 Capital Magnet Fund awards will support the development of thousands of affordable homes for low-income Americans in communities across the country." </p>
<p>The awardees are required to leverage their awards with other private and public investment by at least 10 to 1, guaranteeing that a minimum of $1.3 billion will be invested in eligible projects across the United States. For the FY 2019 round the awardees anticipate that almost $4 billion will be invested in total, including more than $3 billion in private investment. </p><p>The 38 awardees will collectively serve 44 states, the District of Columbia, and Puerto Rico. 7 of these awardees, or 18 percent, will invest at least half of their award dollars in Rural Areas. Of the 38 awardees, 23 are Community Development Financial Institutions (CDFIs) and 15 are non-profit housing organizations. The 38 awardees were selected after a merit-based competitive review of applications submitted from a total of 113 organizations that requested more than $522 million from the Capital Magnet Fund for the FY 2019 round. </p><p>
<strong>FY 2019 Capital Magnet Fund Award Resources</strong></p><ul><li><a href="/Documents/FINAL%202019%20CMF%20Award%20Book%20022020.pdf" target="_blank">Capital Magnet Fund Award Book</a><br></li><li><a href="/Documents/FY%202019%20CMF%20Appliation%20Review%20Process.pdf" target="_blank">Capital Magnet Fund Application Review Process</a><br></li></ul><p>
<strong>About the CDFI Fund </strong></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $3.5 billion to CDFIs, community development organizations, and financial institutions through: the BEA Program; the Capital Magnet Fund; the Community Development Financial Institutions Program, including the Healthy Food Financing Initiative; the Financial Education and Counseling Pilot Program; and the Native American CDFI Assistance Program. In addition, the CDFI Fund has allocated $57.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and closed guaranteed bonds in the amount of $1.61 billion through the CDFI Bond Guarantee Program.</p><p>To learn more about the CDFI Fund and its programs, please visit the CDFI Fund's website at <a href="/" target="_blank">www.cdfifund.gov</a>.
<br></p> | 2020-02-25T05:00:00Z | Press Releases | 370 | | |
| Request for Public Comment: CDFI Program, NACA Program and NMTC Program Annual Reports | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=371 | Request for Public Comment: CDFI Program, NACA Program and NMTC Program Annual Reports | <p>The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general 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. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the Community Development Financial Institutions CDFI Program (CDFI Program), and Native American CDFI Assistance Program (NACA Program) and New Markets Tax Credit Program (NMTC Program) Annual Report, including the Awards Management and Information System (AMIS) Compliance and Performance Reporting (ACPR).</p><p>The principal changes to the data collection system is the replacement of the Community Investment Impact System (CIIS) with the AMIS system for reporting and the reduced burden for CDFI Program and NACA Program Recipients due to the elimination of the Institutional Level Report (ILR) and reductions in the Transaction Level Report (TLR). Slight efficiency gains are also described for NMTC Program Allocatees, which reduces the average reporting burden. </p><p>A CDFI Program and NACA Program Recipient must submit an Annual Report that is comprised of several sections that depend on the program and the type of award. The specific components that comprise a Recipient's Annual Report are set forth in the Assistance Agreement that the Recipient enters into with the CDFI Fund in order to receive a CDFI Program or NACA Program award. </p><p>The current CDFI Program reporting requirements can be found in the Assistance Agreement templates located on the CDFI Program page of CDFI Fund web site,
<a href="/programs-training/Programs/cdfi-program/Pages/closing-disbursement-step.aspx#step4" target="_blank">here</a>. The current NACA Program reporting requirements can be found in the Assistance Agreement templates located on the Native Initiatives page of the CDFI Fund web site,
<a href="/programs-training/Programs/native-initiatives/Pages/closing-disbursement-step.aspx#step4" target="_blank">here</a>.</p>
<p>NMTC Program Allocatees must submit an Annual Report that is comprised of: (i) A financial statement that has been audited by an independent certified public accountant; (ii) an ILR (including the IRS Compliance Questions section), if the Allocatee has issued any Qualified Equity Investments; and (iii) a TLR if the Allocatee has issued any Qualified Low-Income Community Investments in the form of loans or investments. The components that comprise an Allocatee's Annual Report are set forth in the Allocation Agreement that the Allocatee enters into with the CDFI Fund in order to receive a NMTC Program allocation. These requirements can be found in the Allocation Agreement templates located on the NMTC Program page of the CDFI Fund web site, <a href="/programs-training/Programs/new-markets-tax-credit/Pages/allocation-step.aspx#step4" target="_blank">here</a>.</p><p>Data collection guidance documents for the CDFI and NACA Programs, as well as NMTC Program reporting are located on the AMIS Compliance and Performance Reporting page of the CDFI Fund web site, <a href="/Pages/amisreporting.aspx" target="_blank">here</a>.</p><p>Comments are invited on all aspects of the information collections, but commentators may wish to focus particular attention on: (a) The cost for CDFIs and CDEs to operate and maintain the services/systems required to provide the required information; (b) ways to enhance the quality, utility, and clarity of the information to be collected; (c) whether the collection of information is necessary for the proper evaluation of the effectiveness and impact of the CDFI Fund's programs, including whether the information has practical utility; (d) the accuracy of the CDFI Fund's estimate of the burden of the collection of information; (e) ways to minimize the burden of the collection of information including through the use of technology, such as software for internal accounting and geocoding to capture geographic detail while streamlining and aggregating TLR reporting for upload to AMIS, and; (f) what methods might be used to improve the data quality, internal accounting and efficiency of reporting transactions for serving other targeted populations.</p><p>Comments must be submitted in writing by 60 days after the date of publication of the Federal Register notice via email to Greg Bischak, Program Manager for Financial Strategies and Research, CDFI Fund, at <a href="mailto:CDFI-FinancialStrategiesandResearch@cdfi.treas.gov" target="_blank">CDFI-FinancialStrategiesandResearch@cdfi.treas.gov</a>.</p><p><em>Please note that later in 2020 the CDFI Fund plans to publish a Request for Public Comment to solicit feedback on proposed additions and revisions to CDFI Program, NACA Program and NMTC Program TLRs and estimates on reporting burdens, which are </em><span style="text-decoration-line:underline;"><em>not</em></span><em> contained in this notice.</em></p><p><strong>Related Material:</strong></p><ul><li><a href="https://www.federalregister.gov/documents/2020/02/25/2020-03748/community-development-financial-institutions-fund" target="_blank">Federal Register Notice</a><br></li><li><a href="/programs-training/Programs/cdfi-program/Pages/closing-disbursement-step.aspx#step4" target="_blank">CDFI Program FY 2019 Financial Assistance & Technical Assistance Agreement Templates</a></li><li><a href="/programs-training/Programs/native-initiatives/Pages/closing-disbursement-step.aspx#step4" target="_blank">NACA Program FY 2019 Financial Assistance & Technical Agreement Templates</a></li><li><a href="/programs-training/Programs/new-markets-tax-credit/Pages/allocation-step.aspx#step4" target="_blank">NMTC Program CY 2018 Allocation Agreement Template</a><br></li></ul> | 2020-02-25T05:00:00Z | Updates | 371 | | |
| FY 2020 CDFI Program and NACA Program Round Open for Applications | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=369 | FY 2020 CDFI Program and NACA Program Round Open for Applications | <p>Today, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The awards from these programs will support Community Development Financial Institutions (CDFIs) that provide affordable financing and related services to low-income communities and populations that lack access to credit, capital, and financial services.</p><p>The CDFI Fund plans to award approximately $199.5 million in FY 2020 awards, authorized by the Consolidated Appropriations Act, 2020 (P.L. 116-93), to be divided as follows:</p><ul><li><p>$140.9 million in CDFI Program Financial Assistance (FA) and Technical Assistance (TA) awards.</p></li><li><p>$14 million in NACA Program FA and TA awards.</p></li><li><p>$19.6 million in Persistent Poverty County-Financial Assistance (PPC-FA) awards, which both CDFI Program and NACA Program applicants can apply for.</p></li><li><p>$22 million for Healthy Food Financing Initiative-Financial Assistance (HFFI-FA) awards, which both CDFI Program and NACA Program applicants can apply for.</p></li><li><p>$3 million for Disability Funds-Financial Assistance (DF-FA) awards, which both CDFI Program and NACA Program applicants can apply for.</p></li></ul><p>A detailed overview of the
<a href="/cdfi" target="_blank">CDFI Program</a>, the
<a href="/native" target="_blank">NACA Program</a>, and the types of awards available can be found in the FY 2020 Notice of Funding Availability (NOFA) for those programs. To learn more, please view the CDFI Program NOFA and NACA Program NOFA. </p><p>
<strong>Application Materials </strong></p><p>Reference copies of the NOFAs and all application materials can be found on the CDFI Fund's website at: </p><ul style="list-style-type:disc;"><li><p>CDFI Program:
<a href="/cdfi" target="_blank">www.cdfifund.gov/cdfi</a>, under
<a href="/programs-training/Programs/cdfi-program/Pages/apply-step.aspx#step2" target="_blank">Step 2: Apply </a> </p></li><li><p>NACA Program:
<a href="/native" target="_blank">www.cdfifund.gov/native</a>, under
<a href="/programs-training/Programs/native-initiatives/Pages/apply-step.aspx#step2" target="_blank">Step 2: Apply </a> <br></p></li></ul><p>Applicants are strongly encouraged to read and view all application materials, including the NOFA, application guidance, webinars, and presentations.</p><p>In the coming weeks, the CDFI Fund will continue to update the Application Materials section of the
<a href="/cdfi" target="_blank">CDFI Program</a> and
<a href="/programs-training/Programs/native-initiatives/Pages/apply-step.aspx#step2" target="_blank">NACA Program</a> webpages with additional guidance materials and presentations. Keep an eye on the CDFI Fund's website for updates. </p><p>
<strong>Required Application Systems</strong></p><p>All applicants must be registered and have active accounts in
<a href="http://www.sam.gov/" target="_blank">SAM.gov</a>,
<a href="https://www.grants.gov/" target="_blank">Grants.gov</a>, and the CDFI Fund's
<a href="https://amis.cdfifund.gov/s/AMISHome" target="_blank">Awards Management Information System (AMIS)</a> to apply for funding by
<strong>March 23, 2020</strong>, or their application will be considered ineligible. All applicants are also required to have the correct EIN and DUNS numbers attached to the relevant SAM.gov and AMIS accounts by March 23, 2020. As soon as possible, organizations should either create these accounts if they don't exist, or confirm that their existing accounts are up-to-date, in order to avoid potential application submission problems. Detailed information is available in the FY 2020 NOFA for each program. </p><p>New applicants are encouraged to begin the registration process for each of the systems now, and registration guidance is provided on each website. The CDFI Fund provided an initial overview of the steps to register in SAM.gov, Grants.gov, and AMIS on its
<a href="/impact/Pages/BlogDetail.aspx?BlogID=75">Impact Blog</a> in January 2020. However, the CDFI Fund does not manage SAM.gov or Grants.gov, and processes for these systems may have changed since then. Please review each system's requirements carefully. </p><p>Both new and repeat applicants should allow ample time to complete the entire registration and submission process well in advance of the application deadline. Please see the applicable NOFAs for more information on submitting the CDFI Program and NACA Program applications.</p><p>
<strong>Timeline</strong></p><ul><li><p>Applicants must both submit their SF-424 electronically via Grants.gov and create an AMIS account before 11:59 p.m. Eastern Time (ET) on
<strong>March 23, 2020</strong>.</p><ul><li><p>CDFI Program Grant.gov Funding Number: CDFI-2020-FATA</p></li><li><p>NACA Program Grants.gov Funding Number: CDFI-2020-NACA</p></li></ul></li><li><p>Complete CDFI Program and NACA Program funding applications, including any supplemental applications, must be submitted electronically through AMIS before 11:59 p.m. ET on
<strong>April 21, 2020</strong>. </p></li><li><p>The CDFI Fund strongly encourages all materials to be submitted at least
<span style="text-decoration:underline;">three days</span> before each corresponding deadline for Grants.gov and AMIS.</p></li><li><p>The CDFI Fund will not respond to any applicant questions about the FY 2020 application round after 5:00 p.m. ET on
<strong>April 17, 2020</strong>. Technical support for AMIS will not be available after 5:00 p.m. ET on
<strong>April 21, 2020.</strong></p></li></ul><p>Please see the applicable NOFAs for more information on submitting the CDFI Program and NACA Program applications.</p><p>
<strong>Learn About Applying to the CDFI and NACA Programs </strong></p><p>The CDFI Fund is conducting five live webinars to inform applicants about the FY 2020 CDFI Program and NACA Program applications. Two of the webinars will cover an in-depth overview of the applications. The other three webinars will provide a forum to answer applicant questions. Please view the Application Materials section of the
<a href="/cdfi" target="_blank">CDFI Program</a> and
<a href="https://wjww.cdfifund.gov/native" target="_blank">NACA Program</a> webpages for the dates, times, and access information for each webinar. Advance registration is not required to participate in the webinars. </p><p>
<strong>Questions </strong></p><p>For more information on the CDFI Program or the NACA Program, please contact the CDFI Fund's Help Desk by e-mailing
<a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a> or by calling (202) 653-0421 (option 1).
<br></p> | 2020-02-20T05:00:00Z | Updates | 369 | | |
