| Annual CIIS Public Data Release on CDFI Program Recipient Reporting | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=329 | Annual CIIS Public Data Release on CDFI Program Recipient Reporting | <p>The Community Development Financial Institutions Fund (CDFI Fund) released today an additional year of data provided by Community Development Financial Institutions (CDFIs) through its data collection system, known as the Community Investment Impact System (CIIS) , representing 14 years of data. The data collected covers fiscal years (FYs) 2003 through 2016. </p><p>The release contains Institution Level Report (ILR) data on 855 CDFIs that have reported to CIIS. In general, these CDFIs have provided information on their operation, financial status, and impact in their communities. A previous data release in 2017 consisted of ILR data on 823 CDFIs that had reported to CIIS from FYs 2003 through 2015.</p><p>Additionally, the CDFI Fund released Transaction Level Report (TLR) data to the public detailing how CDFIs provide loans and investments in low-income communities. The data file includes the features and location of over 500,000 individual loans and investments totaling more than $39 billion made by 461 CDFIs. A previous data release in 2017 consisted of TLR data on 433 CDFIs that had reported to CIIS from FY 2003 through 2015.</p><p><b>Data Background</b></p><p>As part of compliance requirements, award recipients under the Community Development Financial Institutions Program (CDFI Program) are required to submit information through CIIS within six months after the close of their fiscal year. This includes the Institution Level Report (ILR) and the Transaction Level Report (TLR). The ILR release includes a total of 203 variables and 4,115 observations describing CDFIs’ profiles such as the ethnic and geographic areas that a CDFI had served, staffing levels, financial status, and services and training provided. </p><p>The TLR release includes a total of 50 variables and 513,705 observations detailing CDFIs’ financing activities in an area, including loan or investment structure and location. Documentation of the data is provided in several reports detailing the CIIS CDFI Program data. All ILR and TLR data released to the public are masked to protect the identity of individual CDFIs.</p><p><b>2018 CDFI Program CIIS Data Release (Data Reported Through FY 2016):</b></p><ul><li><p><a href="/Documents/CDFI%20Performance%20Data-10-15-18%20FINAL%20508%20compliant.pdf" target="_blank">2018 CDFI Program and NACA Program Data Release Snapshot Presentation</a></p></li><li><p><a href="/Documents/FY%202016%20Data,%20Documentation,%20Instructions.zip" target="_blank">2018 CDFI Program and NACA Program Data Release Data, Documentation and Instructions (.zip)</a></p></li><p> </p></ul> | 2018-11-08T05:00:00Z | Updates | 329 | | |
| FY 2019 CDFI Bond Guarantee Program Application Period Now Open | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=328 | FY 2019 CDFI Bond Guarantee Program Application Period Now Open | <p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2019 application period for the CDFI Bond Guarantee Program. </p><p>The CDFI Bond Guarantee Program responds to the critical market demand for long-term, low-cost capital that can be used to spur economic growth in low-income communities.</p><p>Through the CDFI Bond Guarantee Program, the CDFI Fund enables Qualified Issuers to issue bonds that have maturity dates of up to 29.5 years and are fully guaranteed by the federal government. The Qualified Issuer then sells the bonds to the Federal Financing Bank, a division of the Treasury Department, and uses the bond proceeds to make long-term loans at affordable rates to community development financial institutions (CDFIs). </p><p>The CDFIs then finance or refinance new or existing community development projects such as the development of small businesses, commercial real estate, housing units, charter schools, daycare or healthcare centers, and municipal infrastructure. In addition, CDFIs may use the capital to extend credit to other community development borrowers or to refinance existing loans at affordable interest rates. </p><p>A total of up to $500 million in bond guarantee authority is available to eligible CDFIs in FY 2019, pending Congressional authorization. Bond issues have a minimum size of $100 million each, up to an aggregate total of $500 million. Multiple CDFIs may pool together in a single $100 million bond issuance provided that each eligible CDFI participates at a minimum of $10 million. </p><p><b>Application Materials </b></p><p>The FY 2019 Notice of Guarantee Availability (NOGA), which was published in the Federal Register today, in addition to some of the required application materials are available on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/bond">www.cdfifund.gov/bond</a> under the ‘How To Apply’ section by clicking <a href="/programs-training/Programs/cdfi-bond/Pages/apply-step.aspx#step2" target="_blank">Step 2: Apply</a>. </p><p>By November 19, 2018, the CDFI Bond Guarantee Application and Application Instructions will be made available through the CDFI Fund’s Award Management Information System (AMIS). </p><p>Please note that there have been no significant changes to the application materials, aside from changing deadlines, since the FY 2018 round.</p><p><b>Deadlines</b></p><p>Please refer to the NOGA and application instructions for detailed information regarding the following application deadlines.</p><ul><li><p>CDFI Certification Applications must be submitted through AMIS by 11:59 p.m. EST on December 3, 2018.</p></li><li><p>Qualified Issuer Applications must be submitted through AMIS by 11:59 p.m. EST on February 19, 2019.</p></li><li><p>Guarantee Applications must be submitted through AMIS by 11:59 p.m. EST on February 26, 2019.</p></li><li><p>The last day the CDFI Fund will accept questions regarding the FY 2019 application period for the CDFI Bond Guarantee Program is February 12, 2019, at 11:59 p.m. EST. All questions must be submitted electronically to the program office at <a href="mailto:bgp@cdfi.treas.gov" target="_blank">bgp@cdfi.treas.gov</a>. </p></li></ul><p>Qualified Issuer Applications and Guarantee Applications received in FY 2018 that were neither withdrawn nor declined in FY 2018 will be considered under the FY 2019 authority. </p><p><b>Learn About Applying to the CDFI Bond Guarantee Program </b></p><p>Also available on the CDFI Fund’s website are prerecorded presentations from previous rounds of the CDFI Bond Guarantee Program. These presentations can be found on the CDFI Bond Guarantee webpage at <a href="http://www.cdfifund.gov/bond" target="_blank">www.cdfifund.gov/bond</a> under the ‘How To Apply’ section by clicking <a href="/programs-training/Programs/cdfi-bond/Pages/apply-step.aspx#step2" target="_blank">Step 2: Apply</a>. </p><p><i>Conference Call Details</i></p><p>To provide a forum for applicants of the CDFI Bond Guarantee Program to ask questions, the CDFI Fund will conduct two one-hour conference calls in December. The calls are not an application workshop or training and no presentation will be given during the calls; only questions from potential applicants will be addressed. Advance registration is not required to attend. </p><p><b>Dates and Times:</b><br>
Tuesday, December 11, 2018 from 3:00 to 4:00 p.m. EST <br>
Thursday, December 13, 2018 from 10:00 to 11:00 a.m. EST <br>
<b>Call-In Number:</b> 1-866-556-1099 <br>
<b>Participant Passcode:</b> 2598147</p><p>The call-in phone number and passcode are the same for both conference calls.</p><p><b>Application Workshop </b></p><p>The CDFI Fund will conduct a two-day application workshop for potential applicants regarding the FY 2019 Qualified Issuer and Guarantee Application requirements. Specifically, the workshop will include an in-depth discussion of the financial structure of the program, including:</p><ul><li><p>Roles of the Qualified Issuer, Program Administrator, and Servicer; </p></li><li><p>Certification, capitalization, and structuring requirements of the Alternative Financing Structure;</p></li><li><p>Capital Distribution Plan requirements;</p></li><li><p>Eligible CDFI and Secondary Loan Requirements;</p></li><li><p>Costs of the CDFI Bond Guarantee Program;</p></li><li><p>Review processes for the Qualified Issuer and Guarantee Applications;</p></li><li><p>Reporting; and</p></li><li><p>Compliance-related activities.</p></li></ul><p>The two-day application workshop will be held in January 2019 in Washington, DC. The CDFI Fund will release information on how to register for the workshop in the near future. </p><p><b>Questions </b></p><p>For more information about the CDFI Bond Guarantee Program, please visit <a href="http://www.cdfifund.gov/bond" target="_blank">www.cdfifund.gov/bond</a>, or email the CDFI Fund’s Help Desk at <a href="mailto:bgp@cdfi.treas.gov" target="_blank">bgp@cdfi.treas.gov</a>. </p>
| 2018-11-05T05:00:00Z | Updates | 328 | | |
| CDFI Fund Releases Application Demand for FY 2018 Round of BEA Program | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=327 | CDFI Fund Releases Application Demand for FY 2018 Round of BEA Program | <h3>Nearly $941 Million in Increased Investments, Lending and Services in Highly Distressed Communities and to CDFIs</h3><br>
<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2018 round of its Bank Enterprise Award Program (BEA Program). A total of 124 applications were received requesting awards of nearly $218.1 million. A total of $25 million is available for this round. BEA Program applicants are headquartered in 24 states and the District of Columbia. </p><p>The BEA Program provides an incentive for FDIC-insured financial institutions to increase lending, investments and financial services (qualified activities) in the most severely economically distressed communities. Under the BEA Program, distressed communities are defined as census tracts where at least 30 percent of residents have incomes that are less than the national poverty level and where the unemployment rate is at least 1.5 times the national unemployment rate.</p><p>The BEA Program requires applicants to demonstrate an increase in qualified activities from one annual reporting period—known as the “baseline period”— to the next—known as the “assessment period”. BEA qualified activities are provided to Community Development Financial Institutions (CDFIs) or residents and businesses located in these economically distressed communities. Award amounts are calculated as a percentage of the increase in qualified activities.</p><p>During the one-year assessment period (January 1, 2017 – December 31, 2017), these 124 applicants collectively reported qualified activities totaling more than $2.1 billion, compared to the nearly $1.2 billion in qualified activities made during the baseline period (January 1, 2016 – December 31, 2016). This represents an overall increase of nearly $941 million in lending, investment and financial services.</p><p>In addition, of the 124 applicants, 89 have made commitments to deploy a portion of their award in Persistent Poverty Counties (PPC). PPCs are counties where 20 percent or more of the population has lived in poverty over the past 30 years, as measured by the U.S. Census Bureau.</p><p>Applications are currently under review and the CDFI Fund anticipates announcing awards this coming winter. </p><p>For more information about the BEA Program, please view the program <a href="/Documents/CDFI7205_FS_BEA_updatedFeb2018.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/bea" target="_blank">www.cdfifund.gov/bea</a>. </p> | 2018-11-02T04:00:00Z | Updates | 327 | | |
