| CDFI Fund Releases Application Demand for FY 2016 Round of BEA Program | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=261 | CDFI Fund Releases Application Demand for FY 2016 Round of BEA Program | <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) 2016 round of its Bank Enterprise Award Program (BEA Program). A total of 116 applications were received requesting awards of over $146 million against the $19 million in Program Awards that are authorized for this round. These applicants are headquartered in 25 states and the District of Columbia. </p><p>The purpose of the BEA Program is to focus on the most severely economically distressed communities by providing an incentive for FDIC-insured financial institutions to increase their investments in those communities. Under the 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>Applicants must demonstrate increased qualified activities in the form of investments in Community Development Financial Institutions (CDFIs) or in the Applicants’ lending, investing, or financial service-related activities in these economically distressed communities. Award amounts are calculated as a percentage of the increase in qualified activities from one annual reporting period to the next. </p><p>Applications are currently under review and the CDFI Fund anticipates announcing awards this coming summer. For more information about the BEA Program, visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>. </p>
| 2017-06-22T04:00:00Z | Updates | 261 | | |
| Bank Enterprise Award Program Baseline Analysis and Evaluation Report Available | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=260 | Bank Enterprise Award Program Baseline Analysis and Evaluation Report Available | <p>Now available on the Community Development Financial Institutions Fund’s (CDFI Fund’s) website is a new evaluation of the Bank Enterprise Award Program (BEA Program). Commissioned by the CDFI Fund and conducted by A. Reddix and Associates (ARDX), the Woodstock Institute, and the National Community Reinvestment Coalition, the Bank Enterprise Award Program Baseline Analysis and Evaluation is an independent, third-party evaluation of the program. </p><p>
<strong>Links</strong>:</p><ul><li><p><a href="/Documents/BEA%20Program%20Evaluation%20Volume%201-%20Final.pdf">Volume 1: Executive Summary & Report</a></p></li><li><p><a href="/Documents/BEA%20Program%20Evaluation%20Volume%202-%20Final.pdf">Volume 2: Analytical Framework & Primary Data Collection </a></p></li><li><p><a href="/Documents/BEA%20Program%20Evaluation%20Volume%203-%20Final.pdf">Volume 3: Survey Instruments</a></p></li><li>
<p>
<a href="/Documents/BEA%20Eval%20Fact%20Sheet%20June%202017.pdf" target="_blank">Fact Sheet on BEA Program Evaluation</a></p></li></ul> | 2017-06-01T04:00:00Z | Updates | 260 | | |
| 2017 NMTC Program Electronic Application Now Available | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=259 | 2017 NMTC Program Electronic Application Now Available | <p>The electronic application for the 2017 round of the New Markets Tax Credit Program (NMTC Program) is available for applicants through their <a href="https://amis.cdfifund.gov/s/AMISHome">Awards Management Information System </a>(AMIS) accounts. </p><p>The Community Development Financial Institutions Fund (CDFI Fund) published the Notice of Allocation Availability for the 2017 round in the Federal Register on May 4, 2017. Community Development Entities (CDE) interested in applying for New Markets Tax Credit allocation authority under the 2017 round have until 5:00 pm Eastern Daylight Time (EDT), on June 21, 2017 to submit their application. </p><p>Application instructions, including how to navigate through AMIS, may be found on the NMTC Program webpage at <a href="http://www.cdfifund.gov/nmtc">www.cdfifund.gov/nmtc</a> under <a href="/programs-training/Programs/new-markets-tax-credit/Pages/apply-step.aspx#step2">How to Apply Step 2: Apply</a>. The CDFI Fund strongly recommends that the instructions and application timelines are reviewed closely by both first-time and repeat applicants and that applicants give themselves adequate time to submit their applications through AMIS. Only electronic applications submitted through AMIS will be considered. </p><p><b>Reminder about Important Deadlines </b></p><p>Per the 2017 Notice of Allocation Availability, the deadlines for the NMTC Program are as follows: </p><ul><li><p>Submission of CDE Certification Application: May 17, 2017</p></li><li><p>Online Submission of Allocation Application: June 21, 2017</p></li><li><p>Online Submission of Allocation Application Attachments: June 26, 2017</p></li><li><p>Date by which prior Allocatees must issue the requisite percentage of Qualified Equity Investments: August 18, 2017 </p></li></ul><p><b>Questions</b></p><p>Applicants should be aware that the CDFI Fund will no longer respond to questions about the electronic application after 5:00 p.m. EDT on June 19, 2017. If you have questions, please contact the CDFI Fund through the Service Request feature in AMIS or by reaching out to our Help Desk at (202) 653-0421 or <a href="mailto:cdfihelp@cdfi.treas.gov" target="_blank">cdfihelp@cdfi.treas.gov</a>. </p><p>All application materials, including frequently asked questions and application presentations, may be found on the NMTC Program webpage at <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a> under <a href="/programs-training/Programs/new-markets-tax-credit/Pages/apply-step.aspx#step2" target="_blank">How to Apply Step 2: Apply</a>. </p>
| 2017-05-24T04:00:00Z | Updates | 259 | | |
