CDFI News

 

 

Reminder: Use the 2011-2015 ACS Data to Validate Target Markets and Investment Areas in your ACRhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=375Reminder: Use the 2011-2015 ACS Data to Validate Target Markets and Investment Areas in your ACR<p>The Community Development Financial Institutions Fund (CDFI Fund) reminds Certified Community Development Financial Institutions (CDFIs) that have Annual Certification and Data Collection Reports (ACRs) coming <a href="/programs-training/certification/cdfi/Pages/reporting-step.aspx#step2" target="_blank">due</a> to ensure they are utilizing the U.S. Census Bureau's 2011-2015 American Community Survey (ACS) data to identify and verify their Target Markets.</p><p> <strong>Why must CDFIs use 2011-2015 ACS data?</strong></p><p>On October 1, 2018, the CDFI Fund <a href="/news-events/news/Pages/news-detail.aspx?NewsID=325&Category=Updates" target="_blank">announced</a> it had updated Investment Areas using the U.S. Census Bureau's 2011-2015 ACS data. However, new CDFI Certification applicants and those CDFIs reaffirming their Target Markets for the ACR were provided a one-year transition period to use either the 2006-2010 or 2011-2015 ACS data to identify or reaffirm their Investment Areas and Target Markets. This transition period expired October 1, 2019, CDFIs must now ensure they are using 2011-2015 ACS data to identify their Investment Areas and Target Markets.</p><p> <strong>My organization is a Certified CDFI. What should we do?</strong></p><p>CDFIs should analyze their financing activity using the <a href="/Pages/mapping-system.aspx" target="_blank">CDFI Information Mapping System (CIMS)</a> and verify that a minimum of 60% of their financing activities are in eligible Target Market(s). In particular, CDFIs that have identified Investment Areas should analyze their activity to ensure it meets this threshold based on the 2011-2015 ACS data. As part of the mandatory ACR submission process, CDFIs will also need to indicate they have utilized the updated ACS data set to verify that their Target Market activity meets the 60% threshold. </p><p> <strong>My CDFI's Target Market activity now falls under 60%. What should I do?</strong></p><p>If after analyzing your CDFI's Target Market activity using the 2011-2015 ACS data it falls under the 60% threshold, review the Target Market(s) you have identified. Often, a CDFI may have selected Investment Areas that have now "graduated" from being distressed and are no longer eligible. If this is the case for your CDFI, a Target Market Modification form will need to be submitted to the CDFI Fund in the Awards Management Information System (AMIS). The Target Market Modification form will allow your CDFI to adjust its Target Markets by selecting eligible Investment Areas that will allow it to meet the 60% Target Market requirement. Information on submission of a Target Market Modification is available on the CDFI Fund website on the <a href="/programs-training/certification/cdfi/Pages/apply-step.aspx#step1" target="_blank">CDFI Certification page</a>. </p><p> <strong>Will the revised ACS data set require all CDFIs to submit Target Market modifications?</strong></p><p>No, the revised ACS data set will not require all CDFIs to submit Target Market modifications. </p><p>Certified CDFIs that have selected Investment Areas as their Target Market(s), specifically individual census tracts, are particularly susceptible to failing under the Target Market threshold under the 2011-2015 ACS data. More than 300 Certified CDFIs have Investment Areas using individually-selected Census tracts. The CDFI Fund encourages those CDFIs that have this type of Investment Area to closely review their Target Market data in CIMS. Submit a Target Market modification only if you are required to do so.</p><p> <strong>My organization recently received a Financial Assistance (FA) Award. How does this data update impact my Award?</strong></p><p>FA Recipients should review the terms of their Assistance Agreements. While Recipients may be able to satisfy the terms of their Assistance Agreements through activity in either a Target Market or Eligible Market, for purposes of CDFI Certification only qualified activity in an eligible Target Market of record counts towards the 60% threshold requirement.  For reporting purposes, Recipients should apply the 2011-2015 ACS data to all existing awards, as well as any future awards.</p><p>The CDFI Fund has provided an <a href="/Documents/CDFI%20Investment%20Areas%20potential%20FAQs%20FINAL%20100118.pdf" target="_blank">FAQ document</a> that contains information on the updated 2011-2015 ACS data for Investment Areas and Target Markets, as well as an <a href="/Documents/CDFI%20Investment%20Areas%20ACS%202011-2015.xlsb" target="_blank">Excel file</a> containing a list of eligible CDFI Investment Area Census tracts based on the 2011-2015 ACS. The documents may be found on the CDFI Fund's website at <a href="http://www.cdfifund.gov/research" target="_blank">www.cdfifund.gov/research</a> under Program Eligibility Guidance.  <br></p><p>If you have questions about annual compliance and certification reports, please contact your organization's Certification, Compliance Monitoring and Evaluation (CCME) Portfolio Manager directly or send a Service Request via your organization's AMIS account. You may also contact the CDFI Fund's Help Desk at <a href="mailto:ccme@cdfi.treas.gov">ccme@cdfi.treas.gov</a> or (202) 653-0421. For more information about the CDFI Fund and its programs, please visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.<br></p><br>2020-03-19T04:00:00ZUpdates375
CDFI Fund Opens Application Period for FY 2020 CDFI Bond Guarantee Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=374CDFI Fund Opens Application Period for FY 2020 CDFI Bond Guarantee Program<p>​Today, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 application period for the CDFI Bond Guarantee Program. A total of up to $500 million in guarantee authority is available to Eligible Community Development Financial Institutions (Eligible CDFIs) in FY 2020.</p><p>Through the CDFI Bond Guarantee Program, selected certified CDFIs or their designees issue bonds that are guaranteed by the Secretary of the Treasury and use the bond proceeds to extend credit to CDFIs for community development financing and long-term community investments. Authorized uses of the loans financed through the bond proceeds include a variety of financial activities, such as supporting commercial facilities that promote revitalization, community stability, and job creation/retention; housing that is principally affordable to low-income people; businesses that provide jobs for low-income people or are owned by low-income people; and community or economic development in low-income and underserved rural areas.</p><p>Bond Issues are a minimum of $100 million each. Multiple Eligible CDFIs may join a single $100 million Bond Issue provided that each Eligible CDFI participates at a minimum of $10 million.</p><p> <strong>What's New This Round</strong></p><p>The types of community revitalization activities that may be supported through the program were expanded, and the program's collateral requirements have changed. </p><ul><li><p>Loans funding new construction are now eligible Secondary Loans when collateralized by a Principal Loss Collateral Provision under terms and conditions approved by the CDFI Fund. Previously, the Bond Loan Proceeds could only be used to support the renovation or expansion of existing structures. This change will allow participating Eligible CDFIs to support a much broader scope of construction activities in distressed and underserved areas. </p></li><li><p>Charter school loans that have a U.S. Department of Education credit enhancement are now eligible to be pledged as Secondary Loans to the CDFI Bond Guarantee Program. </p></li><li><p>The total collateralization for each Bond Loan must now range between 111% and 120%. The collateralization requirements for the CDFI to Financing Entity asset class utilizing pooled tertiary loans, or Bond Loans utilizing the Alternative Financial Structure remain unchanged.<br></p></li></ul><p>More detailed information about these changes can be found in the <a href="/Documents/20200311_Federal%20Register%20Notice%20FY%202020%20CDFI%20BGP%20NOGA_RMO%20comments%20CDFI%20Response%20CLEAN%20FINAL.pdf" target="_blank">FY 2020 Notice of Guarantee Availability (NOGA)</a>.<br></p><p> <strong>Application Materials</strong></p><p>In anticipation of the publication of the NOGA in the Federal Register tomorrow, 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">Step 2: Apply</a>. Application materials must be submitted through the CDFI Fund's Award Management Information System (AMIS).</p><p>Please note that descriptions of certain requirements for application documentation were modified to reflect the new requirements for FY 2020.</p><p> <strong>Deadlines</strong></p><p>Please reference the NOGA and application instructions for detailed information regarding the following application deadlines.</p><ul><li>CDFI Certification Applications must be submitted through AMIS by 11:59 p.m. EST on April 6, 2020.<br> <br></li><li>Qualified Issuer Applications must be submitted through AMIS by 11:59 p.m. EST on May 11, 2020.<br> <br></li><li>Guarantee Applications must be submitted through AMIS by 11:59 p.m. EST on May 18, 2020.<br> <br></li><li>The last day the CDFI Fund will accept questions regarding the FY 2020 application period for the CDFI Bond Guarantee Program is May 4, 2020, at 11:59 p.m. EST. All questions must be submitted electronically to the program office at bgp@cdfi.treas.gov. </li></ul><p>Qualified Issuer Applications and Guarantee Applications received in FY 2019 that were neither withdrawn nor declined in FY 2019 will be considered under the FY 2020 authority.</p><p> <strong>Learn About Applying to the CDFI Bond Guarantee Program</strong></p><p>Due to recent developments related to the spread of COVID-19, the CDFI Fund will not conduct an in-person, two-day application workshop.  To ensure potential Qualified Issuer and Guarantee applicants have the information needed to consider whether to apply this round, the CDFI Fund will provide two different virtual learning opportunities.</p><p>First, the CDFI Fund will conduct two consecutive, two-hour webinars that will highlight the most important information from the presentation used during the customary workshop. Each webinar will last two hours, the last 30 minutes of which will be reserved for Q&A. The CDFI Fund will post the presentation in advance of the webinar, and no registration is needed.</p><p>Second, the CDFI Fund will also hold two conference calls to answer any questions that may arise after the webinars.  There will be one conference call for potential Qualified Issuer applicants and another for potential Guarantee applicants.  The details for both are below. </p><p> <strong>Webinars Details</strong></p><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr><td class="ms-rteTable-default" style="width:25%;"> </td><td class="ms-rteTable-default" style="width:25%;">Date and Time</td><td class="ms-rteTable-default" style="width:25%;">Conference Line</td><td class="ms-rteTable-default" style="width:25%;">Access Link</td></tr><tr><td class="ms-rteTable-default">Webinar 101</td><td class="ms-rteTable-default">March 26, 2020<br> 1:00-3:00 PM ET</td><td class="ms-rteTable-default"><p>Call: <br>1-888-324-0239</p><p>Passcode: <br>4349543</p></td><td class="ms-rteTable-default"><p> <a href="https://www.mymeetings.com/emeet/join/index.jsp?customHeader=mymeetings">Access Webinar</a></p><p>Conference number:<br> PWXW1005091<br> Passcode:<br> 4349543</p></td></tr><tr><td class="ms-rteTable-default">Webinar 102</td><td class="ms-rteTable-default">March 26, 2020<br> 1:00-3:00 PM ET</td><td class="ms-rteTable-default"><p>Call: <br>1-888-324-0239</p><p>Passcode: <br>4349543</p></td><td class="ms-rteTable-default"> <a href="https://www.mymeetings.com/emeet/join/index.jsp?customHeader=mymeetings">Access Webinar</a><br> Conference number:<br> PWXW1005099<br> Passcode:<br> 4349543</td></tr></tbody></table><p> <br>Viewing these webinars requires the use of WebEx. To download the WebEx Event Manager, see the instructions on the Verizon's <a href="https://www.mymeetings.com/emeet/join/src/plugins_mm.php?lang=/en">WebEx Downloads page</a>.</p><p> <strong>Conference Calls Details</strong></p><ul><li>Thursday, April 2, 2020 at 1:00-2:30 pm ET – Qualified Issuer Applicants<br> <br></li><li>Friday, April 3, 2020 at 1:00-2:30 pm ET – Guarantee Applicants<br> <br></li></ul><p>The dial-in number and passcodes are the same for both calls. The dial-in number is 1-888-324-0239 and the pass code is 4349543. No prior registration is necessary. </p><p> <strong>Reasonable Accommodations</strong></p><p>Requests for reasonable accommodations under section 504 of the Rehabilitation Act for either the webinars or conference calls should be directed to Jay Santiago at 202-653-0300 no later than 48 hours before the conference calls begin.</p><p> <strong>Questions</strong></p><p>Inquiries regarding legal documents related to the CDFI Bond Guarantee Program should be directed to the CDFI Fund's Office of Legal Counsel via email at <a href="mailto:legal@cdfi.treas.gov">legal@cdfi.treas.gov</a>. </p><p>For more information about the CDFI Bond Guarantee Program, please visit <a href="http://www.cdfifund.gov/bond">www.cdfifund.gov/bond</a>, or email the CDFI Fund's Help Desk at <a href="mailto:bgp@cdfi.treas.gov">bgp@cdfi.treas.gov</a>. <br></p>2020-03-18T04:00:00ZUpdates374
The FY 2020 CDFI Bond Guarantee Program Application Workshop Has Been CANCELLEDhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=373The FY 2020 CDFI Bond Guarantee Program Application Workshop Has Been CANCELLED<p>The U.S. Department of the Treasury and its Community Development Financial Institutions Fund (CDFI Fund) are closely monitoring the recent developments in the spread of COVID-19. Pursuant to <a href="https://www.chcoc.gov/content/preliminary-guidance-agencies-during-coronavirus-disease-2019-covid-19" target="_blank">guidance issued</a> by the Office of Personnel Management regarding domestic travel for Federal staff, the CDFI Fund is cancelling the <a href="/news-events/news/Pages/news-detail.aspx?NewsID=368&Category=Updates" target="_blank">previously announced</a> CDFI Bond Guarantee Program Application Workshop scheduled for March 26th and 27th at the Federal Reserve Bank of Chicago.</p><p> <b>Webinars</b></p><p>To ensure you have the information you need to consider whether to apply to the CDFI Bond Guarantee Program in this year’s upcoming application round or in future rounds, the CDFI Fund will hold two consecutive, two-hour webinars on March 26th and March 27th from 1:00 to 3:00 p.m. Eastern Time (ET). The material in these webinars will reflect the material that would have been covered in each day of the workshop in an abbreviated format, with the last 30 minutes of each webinar reserved for Q&A. No registration is needed.</p><p>Viewing these webinars requires the use of WebEx. To download the WebEx Event Manager, see the instructions on the Verizon's <a href="https://www.mymeetings.com/emeet/join/src/plugins_mm.php?lang=/en">WebEx Downloads page</a>.</p> <br> <table class="table table-striped table-condensed bottom-margin " style="width:704px;height:244px;"><thead class="sr-only" style="text-align:left;"><tr><th>Webinar Topic</th><th>Date and Time</th><th>Conference Line</th><th>Access Link</th></tr></thead><tbody><tr><td>Webinar 101</td><td>March 26, 2020 <br> 1:00-3:00 PM ET</td><td>Call:<br>1-888-324-0239 <br>Passcode:<br> 4349543</td><td> <a href="https://www.mymeetings.com/emeet/join/index.jsp?customHeader=mymeetings" target="_blank">Access Webinar</a><br>Conference number:<br>PWXW1005091 <br> Passcode: 4349543</td></tr><tr><td>Webinar 102</td><td>March 27, 2020 <br> 1:00-3:00 PM ET</td><td>Call:<br>1-888-324-0239 <br>Passcode:<br>4349543</td><td> <a href="https://www.mymeetings.com/emeet/join/index.jsp?customHeader=mymeetings" target="_blank">Access Webinar</a><br> Conference number:<br>PWXW1005099 <br> Passcode: 4349543</td></tr></tbody></table><p>We will post a copy of the presentation on the CDFI Fund’s website at <a href="/bond" target="_blank">www.cdfifund.gov/bond</a> under Step 2: Apply in advance so that you can join the webinar prepared with questions.</p><p> <b>Conference Calls</b></p><p>The CDFI Fund also plans to hold two conference calls to answer any questions that may arise after the webinars. There will be one conference call for potential Qualified Issuer applicants and one call for potential Guarantee applicants. </p><ul><li><p>Thursday, April 2, 2020 at 1:00 pm ET – Qualified Issuer Applicants</p></li><li><p>Friday, April 3, 2020 at 1:00 pm ET – Guarantee Applicants</p></li></ul><p>The dial-in number and passcodes are the same for both calls. The dial-in number is 1-888-324-0239 and the pass code is 4349543. No prior registration is necessary.</p><p> <b>Reasonable Accommodations</b></p><p>Requests for reasonable accommodations under section 504 of the Rehabilitation Act for either the webinars or conference calls should be directed to Jay Santiago at 202-653-0300 no later than 48 hours before the conference calls begin.</p><p> <b>Questions</b></p><p>If you have any questions or concerns, please contact the CDFI Bond Guarantee Program by email at <a href="mailto:bgp@cdfi.treas.gov">bgp@cdfi.treas.gov</a>. <br></p> <br>2020-03-11T04:00:00ZUpdates373
Important Reminders for FY 2020 CDFI Program and NACA Program Round Applicantshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=372Important Reminders for FY 2020 CDFI Program and NACA Program Round Applicants<p>​As a reminder for fiscal year (FY) 2020 Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) applicants, the deadline for online submission of the SF-424 through Grants.gov for this year's CDFI Program and NACA Program funding rounds is <strong>March 23, 2020</strong> at 11:59 PM ET.  Applicants must also have created an Awards Management Information System (AMIS) account and entered their EIN and DUNS numbers by <strong>March 23, 2020</strong> at 11:59 PM ET.</p><p>The deadline for online submission of the rest of the application materials through AMIS is <strong>April 21, 2020</strong> at 11:59 PM ET.  Please view the CDFI Program and NACA Program Notices of Funding Availability (NOFAs) for more detailed information. </p><p> <strong>Upcoming Webinars </strong></p><p>The CDFI Fund will host in-depth "virtual workshop" webinars about the Financial Assistance and Technical Assistance applications on March 10 and 11, 2020.  In addition, the CDFI Fund will host webinars on March 31 and April 1, 2020 to answer applicant questions about the CDFI Program and NACA Program.  Access information for the webinars is available on the <a href="/programs-training/Programs/cdfi-program/Pages/apply-step.aspx#step2">CDFI Fund's website</a>.  Advance registration is not required to participate. </p><p> <strong>Updated Guidance</strong></p><p>All of the guidance, application materials, and webinar information for the FY 2020 application round are available on the CDFI Fund's website at <a href="/programs-training/Programs/cdfi-program/Pages/apply-step.aspx#step2" target="_blank">www.cdfifund.gov/cdfi</a> and <a href="/programs-training/Programs/native-initiatives/Pages/apply-step.aspx#step2" target="_blank">www.cdfifund.gov/native</a> under <strong>How to Apply Step 2: Apply</strong>.  The following materials have been added or updated on the CDFI Fund's website since the application release on February 20, 2020:</p><ul><li><p>Financial Assistance Application Guidance (updated March 3, 2020)</p></li><li><p>Technical Assistance Application Guidance (updated March 3, 2020)</p> </li><li><p>FA AMIS Application Training Manual (added March 3, 2020)</p></li><li><p>TA AMIS Application Training Manual (added March 3, 2020)</p></li><li><p>Frequently Asked Questions (added March 10, 2020)</p></li></ul><p>The CDFI Fund will continue to update the Application Materials section of the CDFI Program and NACA Program webpages.  Keep an eye on the CDFI Fund's website for updates.</p><p> <strong>Questions? Contact Us</strong></p><p>The CDFI Fund will be answering questions about the FY 2020 application until 5:00 p.m. ET on <strong>April 17, 2020</strong>.  Contact the CDFI Fund's Help Desk by submitting a Service Request through your AMIS account; by e-mail to <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a>; or by phone to (202) 653-0421 (please note this is not a toll free number). </p><p>To learn more about the CDFI Fund and its programs, please visit <a href="/" target="_blank">www.cdfifund.gov</a>. <br></p>2020-03-10T04:00:00ZUpdates372
Request for Public Comment: CDFI Program, NACA Program and NMTC Program Annual Reportshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=371Request 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>2020-02-25T05:00:00ZUpdates371
FY 2020 CDFI Program and NACA Program Round Open for Applicationshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=369FY 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>2020-02-20T05:00:00ZUpdates369
FY 2020 CDFI Bond Guarantee Program Application Workshop Registration Now Openhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=368FY 2020 CDFI Bond Guarantee Program Application Workshop Registration Now Open<p>In anticipation of the fiscal year (FY) 2020 round of the CDFI Bond Guarantee Program, which is expected to launch early this spring, the CDFI Fund and the Federal Reserve Bank of Chicago will co-sponsor one (1) two-day workshop for potential applicants on the Qualified Issuer and Guarantee Application requirements. This workshop will cover the basics of the program and is appropriate for groups considering applying this year as well as those considering applying to the program in the future. The presentations will include a review of the CDFI Bond Guarantee Program’s structure and in-depth discussions on the following topics:</p><ul><li><p>Roles of the Qualified Issuer, Program Administrator, and Servicer;</p></li><li><p>Program eligibility;<br></p></li><li><p>Certification, capitalization, and structuring requirements of the Alternative Financing Structure and the Approved Financing Entity;</p></li><li><p>Capital Distribution Plan requirements;</p></li><li><p>Secondary Loan Requirements;</p></li><li><p>Program costs;</p></li><li><p>Qualified Issuer and Guarantee Application review processes;</p></li><li><p>Rural Infrastructure;</p></li><li><p>Credit Enhancements;</p></li><li><p>Post-issuance reporting requirements; and</p></li><li><p>Compliance-related responsibilities and activities.</p></li></ul><p>Attendees will be provided ample opportunity to ask the CDFI Fund staff questions, and receive clarification about workshop material.</p><p>As the workshops will be held in a secure federal building, registration is required. The workshop is free of charge; however, due to limited space, registration will be honored on a first come, first served basis. Up to sixty (60) participants may attend.</p><p> <b>WHAT: </b> Qualified Issuer and Guarantee Application Workshop</p><p> <b>WHEN: </b> March 26 & 27, 2020</p><p>The first day of the workshop will include: Introduction to the CDFI Bond Guarantee Program, Program Requirements, Structure, and Participants, Qualified Issuer Application and Evaluation Process, Guarantee Application and Evaluation Process, Application and Closing Timelines, and Program Reporting Requirements. The second day will include: CDFI Bond Guarantee Program General Recourse Secured Structure Discussions, including Approved Financing Entity and Alternative Financing Structure Application Overviews; Financing in Rural Communities and use of the Rural Infrastructure Lending Asset Class as well as a discussion of the Post-Issuance Requisition Process.</p><p> <b>TIME: </b> 9:00 a.m. to 5:00 p.m. on Thursday, March 26th and 9:00 a.m. to 3:00 p.m. on Friday, March 27th. There is a 60-minute break each day for lunch, which is not provided.</p><p> <b>WHERE: </b> Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604</p><p> <b>REGISTER: </b> Registration for the application workshop <a href="http://www.cvent.com/d/1nql97" target="_blank">is available here</a>.</p><p>For interested parties unable to attend the in-person application workshops, the presentation materials will be posted to the CDFI Fund’s website, <a href="/bond" target="_blank">www.cdfifund.gov/bond</a>, following the workshop.</p><p> <b>Questions</b></p><p>For more information about the CDFI Bond Guarantee Program, please visit www.cdfifund.gov/bond, or email the Help Desk at bgp@cdfi.treas.gov. </p><p> <b>Reasonable Accommodations</b></p><p>Requests for reasonable accommodations under Section 504 of the Rehabilitation Act should be directed to Jay Santiago at the CDFI Fund at (202) 653-0300.<br></p> <br> <p><i>This release was updated on February 19, 2020 to clarify that the Federal Reserve Bank of Chicago is a co-sponsor of the workshop.</i></p>2020-02-12T05:00:00ZUpdates368
Request for Public Comment: Allocation and Qualified Equity Investment Tracking Systemhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=366Request for Public Comment: Allocation and Qualified Equity Investment Tracking System<p>The U.S. 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, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Allocation and Qualified Equity Investment (AQEI) Tracking System.</p><p>The Department of the Treasury, through the CDFI Fund, administers the NMTC Program, which provides an incentive to investors in the form of tax credits over seven years and stimulates the provision of private investment capital that, in turn, facilitates economic and community development in low-income communities. In order to qualify for an allocation of NMTC authority, an entity must be certified as a qualified Community Development Entity and submit an allocation application to the CDFI Fund. Upon receipt of such applications, the CDFI Fund conducts a competitive review process to evaluate applications for the receipt of NMTC allocations. Entities selected to receive an NMTC allocation must enter into an Allocation Agreement with the CDFI Fund. The Allocation Agreement contains the terms and conditions, including all reporting requirements, associated with the receipt of a NMTC allocation. The CDFI Fund requires each Allocatee to use an electronic data collection and submission system, known as the Allocation and Qualified Equity Investment (AQEI) Tracking System, to report on the information related to its receipt of a Qualified Equity Investment.</p><p>The previous name for this data collection system was the Allocation Tracking System (ATS). The CDFI Fund developed the AQEI Tracking System to, among other things: (1) enhance the Allocatee’s ability to report to the CDFI Fund timely information regarding the issuance of its Qualified Equity Investments; (2) enhance the CDFI Fund’s ability to monitor the issuance of Qualified Equity Investments to ensure that no Allocatee exceeds its allocation authority and to ensure that Qualified Equity Investments are issued within the timeframes required by the Allocation Agreement and IRC §45D; and (3) provide the CDFI Fund with basic investor data that can be aggregated and analyzed in connection with NMTC Program evaluation efforts.</p><p>Comments are invited on: (a) whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services required to provide information.</p><p>Comments must be submitted in writing by 60 days after the date of publication of the Federal Register notice via email to Tanya McInnis, Certification, Compliance Monitoring and Evaluation (CCME) Program Manager, CDFI Fund, at ccme@cdfi.treas.gov.</p><p><b>Related Materials:</b></p><ul><li><p><a href="/Documents/AQEI%20PRA%20Federal%20Register%20notice%2026DEC2019.pdf" target="_blank">Federal Register Notice</a><br></p></li><li><p><a href="/Documents/Information%20Collection%20-%20New%20Markets%20Tax%20Credit%20Program%20Allocation%20and%20QEI%20Tracking%20System%20-%20CLEAN.pdf" target="_blank">For Public Comment: AQEI Tracking System Data Points</a><br></p></li><li><p><a href="/Documents/Allocation-QEI%20Tracking%20User%20Guide,%20August%202019.pdf" target="_blank">For Reference Only: AQEI Tracking System Guidance Manual</a></p></li></ul> 2019-12-23T05:00:00ZUpdates366
Request for Public Comment: Community Development Entity Certification Applicationhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=367Request for Public Comment: Community Development Entity Certification Application<p>The U.S. 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 New Markets Tax Credit Program (NMTC Program) Community Development Entity (CDE) Certification Application.</p><p>The Department of the Treasury, through the CDFI Fund, administers the NMTC Program, which provides an incentive to investors in the form of tax credits over seven years, expected to stimulate the provision of private investment capital that, in turn, will facilitate economic and community development in low-income communities.</p><p>In order to qualify for an allocation of tax credits through the NMTC Program, an entity must be certified as a CDE and submit an allocation application to the CDFI Fund. Nonprofit entities and for-profit entities may be certified as CDEs by the CDFI Fund. In order to be certified as a CDE, an entity must be a domestic corporation or partnership, that: (1) has a primary mission of serving or providing investment capital for low-income communities or low-income persons; and (2) maintains accountability to residents of low-income communities through their representation on any governing or advisory board of the entity.</p><p>Comments are invited on: (a) whether the collection of information is necessary for the proper performance of the functions of the CDFI Fund, including whether the information shall have practical utility; (b) the accuracy of the CDFI Fund’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.</p><p>Comments must be submitted in writing by 60 days after the date of publication of the Federal Register notice via email to Tanya McInnis, Certification, Compliance Monitoring and Evaluation (CCME) Program Manager, CDFI Fund, at ccme@cdfi.treas.gov.</p><p><b>Related Materials:</b></p><ul><li><p><a href="/Documents/CDE%20Application%20PRA%20Federal%20Register%20notice%2026DEC2019.pdf" target="_blank">Federal Register Notice</a><br></p></li><li><p><a href="/Documents/1559-0014%20-%20New%20Markets%20Tax%20Credit%20Program%20Community%20Development%20Entity%20Certification%20Application%20-%20CLEAN.pdf" target="_blank">For Comment: CDE Certification Application</a><br></p></li><li><p><a href="/Documents/AMIS%20CDE%20Certification%20Application%20Guidance_2018%20Final.pdf" target="_blank">For Reference Only: CDE Certification Application Submission Guidance</a></p></li></ul> 2019-12-23T05:00:00ZUpdates367
CDFI Fund Releases Summary Report and Public Data for NMTC Program for FYs 2003-2017https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=364CDFI Fund Releases Summary Report and Public Data for NMTC Program for FYs 2003-2017<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released a Summary Report and data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2017. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual report detailing how they invested Qualified Equity Investment (QEI) proceeds in low-income communities. These reports must be submitted to the CDFI Fund by the CDEs, along with their audited financial statements, within six months after the end of their fiscal year.</p><p>The Summary Report categorizes all investments utilizing the North American Industry Classification System (NAICS), which is the standard used by Federal statistical agencies to classify businesses. Analysis of NAICS data shows that nearly 70 percent of NMTC investments made through 2017 have been concentrated in single/mixed-use real estate, health care and social assistance, manufacturing, and educational services (see slides 8-12).</p><p>Further, the Summary Report documents: the geographic distribution of NMTC investments by region (slides 13-16); the extent that CDEs go beyond the minimum statutory distress requirements of the NMTC Program by committing to serve areas of higher distress, rural areas or targeted populations (slides 17-20); and that CDEs leverage the NMTC to offer financing with flexible or non-traditional rates and terms (slides 21-22).</p><p><b>Related Links:</b></p><ul><li><p><a href="/Documents/2019%20NMTC%20Public%20Data%20Release_FY_17-comments%20incorporated_BL%20Edits%20incorporated_Final.pdf" target="_blank">NMTC Public Data Release: 2003-2017 Summary Report</a><br></p></li><li><p><a href="/Documents/2019%20NMTC%20Public%20Data%20Release_FY_17.xlsx" target="_blank">NMTC Public Data Release: 2003-2017 Data File</a><br></p></li></ul><p><b>About the NMTC Program</b></p><p>The NMTC Program enables economically distressed communities to leverage private investment capital by providing investors with a federal tax credit. All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit. The vast majority of NMTC investments are made within statutorily defined “Low-Income Communities.” Low-Income Communities are census tracts with a poverty rate of 20 percent or greater, or a median family income at or below 80 percent of the applicable area median family income. In addition to investments located in Low-Income Communities, investments can qualify for NMTCs by using other statutory provisions designed to target certain areas or populations, including provisions for Rural Counties, and Low-Income Targeted Populations.</p><p>Through the first 15 application rounds of the NMTC Program, the CDFI Fund has made 1,178 awards, allocating a total of $57.5 billion in tax credit authority to CDEs through a competitive application process. This $57.5 billion includes $3 billion in Recovery Act allocations and $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone.</p><p>To learn more about the NMTC Program, visit the NMTC Program webpage on the CDFI Fund’s website at <a href="/nmtc" target="_blank">www.cdfifund.gov/nmtc. </a></p> 2019-11-25T05:00:00ZUpdates364

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