CDFI News

 

 

A Public Meeting of the CDFI Fund's Advisory Board Will be Held on November 16, 2017 in Washington, DChttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=275A Public Meeting of the CDFI Fund's Advisory Board Will be Held on November 16, 2017 in Washington, DC<p>The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the Community Development Advisory Board (the Advisory Board) from 9:00 a.m. to 3:30 p.m. Eastern Standard Time on Thursday, November 16, 2017. The Advisory Board meeting will be held in the Cash Room at the U.S. Department of the Treasury located at 1500 Pennsylvania Avenue, NW, Washington, DC 20220.</p><p>The function of the Advisory Board is to advise the Director of the CDFI Fund on the policies regarding the activities of the CDFI Fund. The Advisory Board does not advise the CDFI Fund on approving or declining any particular application for monetary or non-monetary awards. </p><p> <a href="/Documents/CDAB%20November%20Meeting%20Notice%202017-22278.pdf" target="_blank">Please use this link to view the official meeting notice.</a></p><p> <b>Meeting Registration & Deadline</b></p><p>The Cash Room will accommodate up to 50 members of the public on a first-come, first-served basis. Because the meeting will be held in a secured federal building, members of the public who wish to attend the meeting must register in advance.</p><p>The registration deadline is 11:59 p.m. Eastern Standard Time on Thursday, November 9, 2017, or once the room capacity is reached. For entry into the building on the date of the meeting, each attendee must present his/her government issued ID, such as a driver’s license or passport, which includes a photo.</p><p>Please use the following link to register: ​​<a href="http://www.cvent.com/events/cdfi-advisory-board-meeting-11-16-17/event-summary-7df128479aa64516910cb6c9dc61ab39.aspx" target="_blank">http://www.cvent.com/events/cdfi-advisory-board-meeting-11-16-17/event-summary-7df128479aa64516910cb6c9dc61ab39.aspx</a></p> <p> <b>Public Accommodations</b></p><p>To be compliant with section 504 of the Rehabilitation Act, the U.S. Department of the Treasury will make reasonable accommodations if you require assistance with any of the following; visual, audio or mobility. Please contact Marcia Wilson by calling (202) 622-8177 or via email at Marcia.Wilson@treasury.gov.</p><p>Please be aware that the U.S. Department of the Treasury building has stairs outside of the main entrance.</p><p> <b>Live Webcast</b></p><p>You may view the public meeting as a live webcast. You do not need to register to view the webcast. The webcast will also be archived and available for viewing a few days after the meeting. </p><p>Please use the following link to view the live webcast: <a href="http://www.yorkcast.com/treasury/events/2017/11/16/cdfi" target="_blank">http://www.yorkcast.com/treasury/events/2017/11/16/cdfi</a> </p><p> <b>Questions</b></p><p>Any questions can be directed to Bill Luecht in the Office of Legislative and External Affairs by calling (202) 653-0322 or via e-mail at <a href="mailto:AdvisoryBoard@cdfi.treas.gov">AdvisoryBoard@cdfi.treas.gov</a>.  </p>2017-10-16T04:00:00ZUpdates275
CDFI Fund to Release Updated Program Eligibility Information: 2011-2015 American Community Survey Census Bureau Datahttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=274CDFI Fund to Release Updated Program Eligibility Information: 2011-2015 American Community Survey Census Bureau Data<p>The Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has established a plan for releasing updated program eligibility information based upon Census Bureau data from the 2011-2015 American Community Survey (ACS). Eligibility requirements for the Bank Enterprise Award Program (BEA Program), Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program (NACA Program), and New Markets Tax Credit Program (NMTC Program) will be released according to the timetable below. </p><p>Currently, eligibility information for the above listed CDFI Fund programs is determined by data collected through the 2006-2010 ACS. The CDFI Fund revises program eligibility criteria to coincide with each subsequent full five-year ACS data release, which is now the 2011-2015 release. However, the CDFI Fund plans to implement a one-year transition period to allow program applicants and recipients the option to determine eligibility using either 2006-2010 ACS data or 2011-2015 ACS data.</p><p>Detailed information regarding usage of ACS data during the transition period will be posted on the program-specific pages on the CDFI Fund website. The CDFI Fund will provide public notification as transition guidance for CDFI Fund programs becomes available.</p><ul><li><p><strong>New Markets Tax Credit Program Low-Income Community (LIC) Data</strong>: <em>to be released October 31, 2017</em> Updated LIC data may be used starting on the release date, with a one-year transition period to use prior 2006-2010 ACS data. For more information, view the NMTC Census Data Transition FAQs here. </p></li><li><p><strong>Bank Enterprise Award Distressed Community Data</strong>: <em>to be released Spring 2018 (tentative)</em> Updated BEA data may be used starting on the release date, with a one-year transition period to use prior 2006-2010 ACS data.</p></li><li><p><strong>CDFI and NACA Programs Certification Investment Areas</strong>: <em>to be released Summer 2018 (tentative)</em> CDFI Program and NACA Program data may be used starting on the release date, with a one-year transition period to use prior 2006-2010 ACS data.</p></li></ul><p>Program specific policies related to the transition to 2011-2015 ACS data and revised eligibility tables will be posted to the <a href="/research-data/Pages/default.aspx" target="_blank">research page</a>, as well as to relevant program pages on the CDFI Fund website. Updated Community Investment Mapping System (CIMS) data reflecting new program eligibility will tentatively be deployed with revised eligibility tables.</p><p>For questions related to the ACS transition, contact the CDFI Fund via email at <a href="mailto:cdfihelp@cdfi.treas.gov" target="_blank">cdfihelp@cdfi.treas.gov</a>, with the subject line “ACS Question.”</p> 2017-10-10T04:00:00ZUpdates274
CDFI Fund Opens FY 2017 Funding Round of BEA Program https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=273CDFI Fund Opens FY 2017 Funding Round of BEA Program <p>Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2017 application round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s website in anticipation the publication of the FY 2017 Notice of Funds Availability (NOFA) in today's Federal Register. The FY 2017 NOFA makes up to $23 million available in awards to eligible Federal Deposit Insurance Corporation (FDIC)-insured banks. </p><p>Through the BEA Program, the CDFI Fund provides monetary awards to FDIC-insured depository institutions that successfully demonstrate an increase in their investments in Community Development Financial Institutions (CDFIs) or in their own lending, investing, or service activities in distressed communities. Distressed communities are defined as those where at least 30 percent of residents earn an income that is less than the national poverty level and where the unemployment rate is at least 1.5 times the national unemployment rate. </p><p><b>BEA Program Overview </b></p><p>The BEA Program provides formula-based grants to applicants for increasing Qualified Activities from a Baseline Period to a later Assessment Period. There are three categories of Qualified Activities:</p><ul><li><p>CDFI Related Activities: Equity Investments, Grants, Equity-Like Loans, Loans, Deposits, and/or Technical Assistance provided to certified CDFIs.</p></li><li><p>Distressed Community Financing Activities: Direct lending or investment in the form of Affordable Home Loans, Affordable Housing Development Loans or Investments, Home Improvement Loans, Education Loans, Small Business Loans or Investments, Small Dollar Consumer Loans, or Commercial Real Estate Development Loans or Investments provided to residents or businesses located in distressed communities.</p></li><li><p>Service Activities: Financial products and services, such as checking accounts, savings accounts, check cashing, financial counseling, Individual Development Accounts, or youth savings accounts provided to residents of distressed communities. </p></li></ul><p>Full definitions of the Qualified Activities may be found in the BEA Program Regulations (Interim Rule). </p><p>There are limited changes to the FY 2017 BEA Program from the prior funding year. The changes include: a Congressional mandate that at least 10 percent of the CDFI Fund’s FY 2017 appropriations be directed to counties that meet the criteria for “Persistent Poverty” designation; increasing the percentage for the CDFI Equity Investments sub-category to be 18 percent for CDFIs and non-CDFIs, aligning it with the maximum percentage given for CDFI Support Activities sub-category; the review and selection process impacted by Persistent Poverty Counties mandate; and reporting requirements for award recipients who made commitments to serve Persistent Poverty Counties. </p><p><b>Deadlines</b></p><p>Please reference the FY 2017 NOFA and application instructions for detailed information regarding the following application deadlines:</p><ul><li><p>Part I of the application must be submitted through Grants.gov by 11:59 p.m. EST on November 16, 2017.</p></li><li><p>Part II of the application must be submitted through the CDFI Fund’s Award Management Information System, or AMIS, by 5:00 p.m. EST on November 30, 2017. </p></li></ul><p><b>Application Materials </b></p><p>In addition to being available through Grants.gov, the FY 2017 NOFA and a paper version of the application and instructions are available on the CDFI Fund's website, www.cdfifund.gov/bea. The electronic version of the application in AMIS will be released in approximately two to three weeks.</p><p><b>Webinars </b></p><p>The CDFI Fund will be conducting two webinars to discuss the FY 2017 BEA Program funding round. These webinars will also include question and answer sessions. Full information can be found on the CDFI Fund's website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a> under Step 1: Apply. </p><p>For those unable to participate in the webinars, the presentation materials will be posted on the CDFI Fund’s website subsequent to the webinar dates.</p><p><b>Questions</b></p><p>For more information on the BEA Program, please visit the BEA webpage of the CDFI Fund’s website: <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>. For questions regarding the BEA Program, please contact the CDFI Fund Help Desk at (202) 653-0421 or via email at <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a>.  The CDFI Fund will not answer questions about the FY 2017 round after 5:00 p.m. EST on November 28, 2017.</p> 2017-09-29T04:00:00ZUpdates273
Annual CIIS Public Data Release on CDFI Program Recipient Reporting https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=271Annual CIIS Public Data Release on CDFI Program Recipient Reporting <p>The Community Development Financial Institutions Fund (CDFI Fund) released today 13 years of data provided by Community Development Financial Institutions (CDFIs) through its data collection system, the Community Investment Impact System (CIIS). The data collected covers fiscal years (FY) 2003 through 2015.</p><p>The release contains Institution Level Report (ILR) data on 823 CDFIs that have reported to CIIS. These CDFIs have provided information on their operations, financial status, and impact in their communities. A previous data release in 2016 consisted of ILR data on 777 CDFIs that had reported to CIIS from FY 2003 through 2014.</p><p>The CDFI Fund also released Transaction Level Report (TLR) data detailing how CDFIs provide loans and investments in low-income communities. The data file includes the features and location of over 450,000 individual loans and investments totaling more than $34 billion made by 433 CDFIs. A previous data release in 2016 consisted of TLR data on 401 CDFIs that had reported to CIIS from FY 2003 through 2014.</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 to CIIS within six months after the close of their fiscal year. This includes both the ILR and TLR. The ILR release includes a total of 203 variables and 3,759 observations describing CDFIs’ profiles such as the demographic and geographic areas that a CDFI served, staffing levels, financial status, and services and training provided. </p><p>The TLR release includes a total of 50 variables and 464,931 observations detailing CDFIs’ financing activities in an area, including loan or investment structure and location. All ILR and TLR data released to the public are masked to protect the identity of individual CDFIs. </p><p> <b>2017 CDFI Program CIIS Data Release (Data Reported Through FY 2015):</b></p><ul><li><p> <a href="/Documents/CDFI%20Performance%20Data%20Snapshot_Approval.pdf" target="_blank">2017 CDFI Program and NACA Program Data Release Snapshot Presentation</a></p></li><li><p><a href="/Documents/FY%202015%20Data,%20Documentation,%20Instructions.zip" target="_blank">2017 CDFI Program and NACA Program Data Release Data, Documentation, and Instructions (.zip)</a></p></li> </ul> 2017-09-26T04:00:00ZUpdates271
CDFI Fund Releases Summary Report and Public Data for NMTC Program for Years 2003-2015https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=270CDFI Fund Releases Summary Report and Public Data for NMTC Program for Years 2003-2015<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) 2015. 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>For the first time, the Summary Report being released today 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 over 68 percent of NMTC investments made through 2015 have been concentrated in single/mixed-use real estate, health care and social services, manufacturing, and education (see slides 8-12).</p><p>Further, the Summary Report documents: the broad 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 (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/NMTC%20Public%20Data%20Release_cleared_508_comp_final_v4.pdf" target="_blank">NMTC Public Data Release: 2003-2015 Summary Report</a></p></li><li><p><a href="/Documents/FY%202017%20NMTC%20Public%20Data%20Release_v2.xlsx" target="_blank">NMTC Public Data Release: 2003-2015 Data File</a></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 13 application rounds of the NMTC Program, the CDFI Fund has made 1,032 awards, allocating a total of $50.5 billion in tax credit authority to CDEs through a competitive application process. This $50.5 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, please view the Fact Sheet or visit the NMTC Program webpage on the CDFI Fund’s website at www.cdfifund.gov/nmtc. </p>2017-09-25T04:00:00ZUpdates270
Update for Capital Magnet Fund Applicants: AMIS Application Now Availablehttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=266Update for Capital Magnet Fund Applicants: AMIS Application Now Available<p>The Application for the fiscal year (FY) 2017 round of the Capital Magnet Fund is now available in the Community Development Financial Institutions Fund’s (CDFI Fund) Awards Management Information System (AMIS). In order to be able to complete their FY 2017 Application in AMIS, applicants must have submitted a valid SF-424 through Grants.gov by July 28, 2017. </p><p>The CDFI Fund encourages all applicants to complete their Applications as early as possible to avoid last-minute problems. All FY 2017 Capital Magnet Fund Applications must be submitted through AMIS by <b>5:00 p.m. Eastern Time (ET) on Thursday, August 31, 2017.</b></p><p> <b>How to Start a Capital Magnet Fund Application in AMIS</b></p><p>To create a CMF Application in AMIS, follow these steps:</p><ol><li><p>Log-in to AMIS.</p></li><li><p>Open your Organizational Profile.</p></li><li><p>Navigate to the Program Profile section and open the CMF Program Profile.</p></li><li><p>Complete the required information in the CMF Program Profile (if necessary).</p></li><li><p>Click “New CMF Application” in the Funding Application section.</p></li><li><p>Enter the requested information and click “Save.” You will then be able to see the whole Application. You will be able to go back and edit any Application information before you Submit. </p></li></ol><p> <b>Need Help? Updated Guidance and Webinars Available</b></p><p>The CDFI Fund has posted additional Application guidance materials to its website, including an updated Frequently Asked Questions document. The training manual for the AMIS Application will be available on the website later this week. All of the 2017 Application guidance, pre-recorded modules, and presentations are available at <a href="http://www.cdfifund.gov/cmf">www.cdfifund.gov/cmf</a> under “How to Apply Step 2: Apply.” </p><p>The CDFI Fund has also scheduled two additional webinars for FY 2017 Capital Magnet Fund applicants on <b>August 14 and August 15, 2017</b> to provide a live demo of how to navigate and enter data into the AMIS Application. See the <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">CDFI Fund’s website </a>for information regarding how to access the webinars. </p><p>No prior registration is necessary to join the webinars. Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Michael Jones at 202-653-0300 no later than 48 hours before the webinars begin. The recordings of the AMIS webinars will be posted to the CDFI Fund’s website a few days after they are conducted.</p><p> <b>Questions</b></p><p>Please direct any questions to the Capital Magnet Fund Help Desk via an AMIS Service Request, by e-mail to <a href="mailto:cmf@cdfi.treas.gov" target="_blank">cmf@cdfi.treas.gov</a>, or by calling 202-653-0421 (please note: this is not a toll-free number). The CDFI Fund will stop taking questions about the Application at <b>5:00 p.m. ET on Tuesday, August 29, 2017. </b></p><p>To learn more about the CDFI Fund and its programs, please visit <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.  </p>2017-08-08T04:00:00ZUpdates266
CDFI Fund Releases Application Demand for 2017 Round of NMTC Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=267CDFI Fund Releases Application Demand for 2017 Round of NMTC Program<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 230 applications under the 2017 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program encourages economic development in low-income and distressed communities by making tax credit allocations available to Community Development Entities (CDEs) for targeted investments in eligible areas. </p><p>The CDEs that applied under the 2017 round are headquartered in 42 states, the District of Columbia, Puerto Rico, and Guam. The applicants requested an aggregate total of $16.2 billion in NMTC allocation authority, over four-and-a-half times the $3.5 billion in authority available for the 2017 round.</p><p>The NMTC Program was established by Congress in December of 2000 and permits individual and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in CDEs. The credit provided to the investor totals 39 percent of the cost of the investment and is claimed over a seven-year period. Substantially all of the taxpayer's investment must in turn be used by the CDE to make qualified investments in low-income communities. Successful applicants are selected only after a competitive application and rigorous review process that is administered by the CDFI Fund. </p><p>Through the first thirteen rounds of the NMTC Program, the CDFI Fund has made 1,032 awards totaling $50.5 billion in tax credit allocation authority. This $50.5 billion includes $3 billion in Recovery Act Awards and $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone. </p><p>For more information about the NMTC Program, visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a>.  </p> 2017-08-08T04:00:00ZUpdates267
Important Reminders for FY 2017 Capital Magnet Fund Applicantshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=264Important Reminders for FY 2017 Capital Magnet Fund Applicants<p>As a reminder for prospective fiscal year (FY) 2017 Capital Magnet Fund applicants, the deadline for online submission of the SF-424 through Grants.gov for the FY 2017 Capital Magnet Fund round is <b>July 28, 2017</b> at 11:59 p.m. Eastern Time (ET). The deadline for online submission of the application and required materials through the CDFI Fund’s Awards Management Information System (AMIS) is <b>August 31, 2017</b> at 5:00 p.m. ET. </p><ul><li><p>Applicants should keep in mind that the CDFI Fund does not administer Grants.gov, and that they are responsible for confirming with Grants.gov that their SF-424 was successfully submitted and validated by Grants.gov. An organization that does not meet the SF-424 deadline will be unable to submit an application through AMIS and will be deemed ineligible. For more details, please see Section IV of the <a href="/Documents/CMF%202017%20FR%20NOFA.pdf" target="_blank">FY 2017 Capital Magnet Fund Notice of Funds Availability</a>.</p></li><li><p>The CDFI Fund anticipates that the AMIS application will be available about four weeks before the August 31 deadline. More information will be provided when the AMIS application is released.</p></li></ul><p><b>New and Updated Application Materials and Resources</b></p><p>The CDFI Fund has provided new and updated materials and resources for FY 2017 applicants on its website. </p><ul><li><p><b>Excel Workbook:</b> The CDFI Fund has posted an Excel workbook tool as a resource to help applicants organize their information for entry into AMIS. The workbook is not a substitute for the AMIS application; applicants are still required to submit all final application materials through AMIS. </p></li><li><p><b>Updated Guidance:</b> All of the guidance, application materials, and pre-recorded webinar modules for the FY 2017 application round are available on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a> under Step 2: Apply. Updated and additional guidance materials will be added to the CDFI Fund’s website on a rolling basis, so please make sure to check the website regularly. Most recently, Application and Outreach Modules 5, 6, 8, and 9 were updated. </p></li></ul><p><b>Webinars and Workshops</b></p><p>The CDFI Fund will be holding a webinar tomorrow, July 18, to discuss how to use a Capital Magnet Fund award to support Economic Development Activities. See the CDFI Fund’s website for information regarding how to access the webinar. Advance registration is not required to participate. </p><p>For those unable to attend the webinar, or who missed the webinars held earlier in July, recordings will be added to the <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">CDFI Fund’s website</a> in the coming days. Pre-recorded webinar modules covering many different topics related to the Capital Magnet Fund and the application process are also available on the CDFI Fund’s website. </p><p>There is also limited availability left to register to attend an in-person workshop in Washington, D.C. on July 26, 2017. Interested applicants should register by July 19, 2017. <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">View more information on the CDFI Fund’s website</a>. </p><p><b>Contact the CDFI Fund</b></p><p>The CDFI Fund will be answering questions about the FY 2017 application via its Help Desk until 5:00 p.m. ET on August 29, 2017. Contact the Help Desk via a Service Request in AMIS; by e-mail to <a href="mailto:cmf@cdfi.treas.gov">cmf@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="http://www.cdfifund.gov/">www.cdfifund.gov</a>. </p> 2017-07-17T04:00:00ZUpdates264
Registration Open for FY 2017 Capital Magnet Fund In-Person Application Workshopshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=263Registration Open for FY 2017 Capital Magnet Fund In-Person Application Workshops<p>Registration is now open to attend in-person application workshops for the fiscal year (FY) 2017 application round of the Capital Magnet Fund. Two in-person workshops—a morning session and an afternoon session—will be held at the CDFI Fund’s offices in Washington, D.C. on July 26, 2017. The same information will be covered during each workshop session. </p><p><b>FY 2017 Capital Magnet Fund In-Person Application Workshops</b></p><p>CDFI Fund Headquarters<br> 1801 L St NW, 6th Floor<br> Washington, DC 20036</p><ul><li><p><b>Morning Session:</b> July 26, 2017, 9:30 a.m. – 12:00 p.m. ET</p></li><li><p><strong>Afternoon Session</strong>: July 26, 2017, 1:30 p.m. – 4:00 p.m. ET</p></li></ul><p>Advance registration is required to attend one of the workshops. Since there is limited capacity at the workshop venue, registration will be limited to one attendee per organization. </p><p><b>Registration</b></p><p>Due to security requirements at the federal facility where the workshops will be held, anyone wishing to attend the in-person application workshops must register through the online registration system link provided below. Individuals who do not register before the applicable registration deadlines, and thus do not appear on the registration list for the facility, will not be admitted. </p><p>Registration for each workshop will be closed when the workshop reaches capacity, or by July 14, 2017 at 5:00 p.m. ET, whichever comes first. <b>Registration is limited to one attendee per organization. Please register for only one of the sessions:</b></p><ul><li><p><a href="https://www.surveymonkey.com/r/TCYHXR9" target="_blank">Register for the Morning Session Here</a></p></li><li><p><a href="https://www.surveymonkey.com/r/XN93W52" target="_blank">Register for the Afternoon Session Here</a></p></li></ul><p>Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Michael Jones at 202-653-0300 no later than 48 hours before the workshops begin.</p><p><b>Reminder: Application Webinars</b></p><p>The CDFI Fund will also be holding a series of application webinars in mid-July for interested applicants. The information covered in the webinars will be similar to the in-person workshops. Advance registration is not required to participate in the webinars. In addition, pre-recorded application modules are available on the CDFI Fund’s website. Learn more at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a> under <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">How to Apply Step 2: Apply</a>. </p><p>To learn more about the Capital Magnet Fund, please visit <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a>. Any questions can be directed to the Help Desk at <a href="mailto:cmf@cdfi.treas.gov">cmf@cdfi.treas.gov</a> or by calling (202) 653-0421.</p> 2017-06-30T04:00:00ZUpdates263
CDFI Fund Opens FY 2017 Funding Round for Capital Magnet Fundhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=262CDFI Fund Opens FY 2017 Funding Round for Capital Magnet Fund<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2017 funding round for the Capital Magnet Fund. </p><p>Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to CDFIs and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities. The objective is to attract private capital to economically distressed communities, including underserved rural areas. Funding for the Capital Magnet Fund comes from allocations made by the Government-Sponsored Enterprises Fannie Mae and Freddie Mac and varies from year to year. The CDFI Fund plans to provide $119.5 million in awards for the FY 2017 round. </p><p>Capital Magnet Fund awardees are able to utilize these funds for financing activities such as affordable housing funds, economic development funds, loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Recipients are required to leverage private and public funds to finance affordable housing and economic development activities that yield a minimum ratio of 10:1. </p><p>In order to provide potential applicants with as much time as possible, the CDFI Fund is posting the Notice of Funds Availability (NOFA) and application materials for the Capital Magnet Fund on the CDFI Fund’s website today in advance of the publication of the NOFA in the Federal Register later this week.</p><p><b>Application Materials</b></p><p>The FY 2017 Capital Magnet Fund NOFA, application, application instructions, and related guidance can be found on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a> under <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">How to Apply Step 2: Apply</a>. The application process consists of two parts: submitting the SF-424 form through Grants.gov, and submitting the rest of the application through the CDFI Fund’s Awards Management Information System (AMIS). </p><p>All applicants must be registered in SAM.gov, Grants.gov, and AMIS to apply for funding. Organizations should confirm that their accounts are up-to-date as soon as possible in order to avoid potential application submission problems. New potential applicants are encouraged to begin the registration process now. Registration guidance for Grants.gov and SAM.gov can be found on the websites for those systems. Guidance on using AMIS (including registration) can be found at <a href="https://amis.cdfifund.gov/" target="_blank">https://amis.cdfifund.gov/</a>. </p><p>The SF-424 is now available for submission through Grants.gov. The CDFI Fund will send out an additional notification when the electronic application is available in AMIS for application submission. At this time, the CDFI Fund anticipates that the AMIS application will be available approximately 4 weeks before the AMIS application due date. In the coming weeks, the CDFI Fund plans to release a Microsoft Excel workbook to help potential applicants organize their application data for entry into AMIS.</p><p>The CDFI Fund strongly recommends that the instructions and application timelines are reviewed closely by both first-time and repeat applicants and that all applicants give themselves adequate time to submit the required application materials through Grants.gov and AMIS.</p><p><b>Deadlines</b></p><ul><li><p>The deadline for submission of the SF-424 is <b>11:59 pm Eastern Time (ET) on July 28, 2017</b>. All applicants must submit their SF-424 electronically through Grants.gov. The CDFI Fund strongly encourages all materials to be submitted through Grants.gov at least three days before the deadline.</p></li><li><p>The deadline for submission of the Capital Magnet Fund application materials through the CDFI Fund’s Award Management Information System (AMIS) is <b>5:00 p.m. ET on August 31, 2017</b>. The CDFI Fund strongly encourages all materials to be submitted through AMIS at least three days before the deadline.</p></li><li><p>The CDFI Fund will stop taking questions about the application at <b>5:00 p.m. ET on August 29, 2017</b>.</p></li></ul><p>Please see the NOFA for applicant eligibility requirements and the steps for submitting all parts of the Capital Magnet Fund application.</p><p><b>Learn About Applying to the Capital Magnet Fund </b></p><p>The CDFI Fund will be providing the following opportunities to learn more about the FY 2017 Capital Magnet Fund funding round:</p><ol><li><p><b>In-Person Application Workshop:</b> CDFI Fund staff will conduct one in-person FY 2017 Capital Magnet Fund Application Workshop in Washington, DC in July. Due to security requirements at the federal facility where the workshops will be held, anyone wishing to attend the in-person application workshops must register in advance. The CDFI Fund will provide additional information about this workshop, including registration information, soon. </p></li><li><p><b>Q&A Webinars:</b> The CDFI Fund is conducting three targeted live webinars to provide a forum to answer applicant questions about the FY 2017 Capital Magnet Fund application. Please view the <a href="/programs-training/Programs/cmf/Pages/apply-step.aspx" target="_blank">Step 2: Apply page </a>of the Capital Magnet Fund website for the dates, times, and access information for each webinar.</p></li></ol><p><b>Questions</b></p><p>For more information on the Capital Magnet Fund, please submit a Service Request through AMIS, or contact the CDFI Fund’s Help Desk by e-mailing <a href="mailto:cmf@cdfi.treas.gov" target="_blank">cmf@cdfi.treas.gov</a> or by calling (202) 653-0421. The CDFI Fund will stop responding to questions about the FY 2017 award round at 5:00 p.m. ET on August 29, 2017. </p><p>To learn more about the CDFI Fund and its programs, please visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.   </p> 2017-06-29T04:00:00ZUpdates262

 Stay In Touch

Sign up to receive news and important information.

Sign Up

 Archives