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CDFI Fund's Advisory Board to Meet on May 20, 2015 in Washington, D.C.https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=169CDFI Fund's Advisory Board to Meet on May 20, 2015 in Washington, D.C.<p>The Community Development Financial Institutions Fund (CDFI Fund) will hold its next meeting of the Community Development Advisory Board (the Advisory Board) from 9:00 a.m. to 4:00 p.m. Eastern Daylight Time on Wednesday, May 20, 2015. 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 room will accommodate up to 50 members of the public. Seats are available to members of the public on a first-come, first-served basis. Since the meeting will be held in a secured federal building, members of the public who desire to attend the meeting must register in advance. The link to the online registration system can be found in the meeting announcement found at the top of <a href="http://www.cdfifund.gov/cdab">www.cdfifund.gov/cdab</a>. The registration deadline is 11:59 p.m. Eastern Daylight time on May 14, 2015. To register, each member of the public must provide the requested personal information. 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>Participation in the discussions at the meeting will be limited to Advisory Board members, Department of the Treasury staff, and certain invited guests. Anyone who would like to have the Advisory Board consider a written statement must submit it to the CDFI Fund’s Office of Legislative and External Affairs by 5:00 p.m. Eastern Daylight Time on Thursday, May 7, 2015, by mail to Bill Luecht, Manager, Office of Legislative and External Affairs, CDFI Fund, 1500 Pennsylvania Avenue, NW, Washington, DC 20220; or by e-mail at <a href="mailto:AdvisoryBoard@cdfi.treas.gov">AdvisoryBoard@cdfi.treas.gov</a>. </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 the granting or denial of any particular application for monetary or non-monetary awards.</p><p>Please review the following Notice for all relevant details: <a href="/Documents/AdvBd%20Notice%20May%2020%202015.pdf">Federal Register Notice</a></p><p>Any questions can be directed to Bill Luecht in the Office of Legislative and External Affairs by calling (202) 653-0300 or via e-mail at <a href="mailto:AdvisoryBoard@cdfi.treas.gov">AdvisoryBoard@cdfi.treas.gov</a>. </p>2015-04-27T04:00:00ZUpdates169
FY 2015 CDFI Bond Guarantee Program Update: Term Sheetshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=122FY 2015 CDFI Bond Guarantee Program Update: Term Sheets<p class="body"> The CDFI Fund has posted sample term sheets for the fiscal year (FY) 2015 CDFI Bond Guarantee Program to its website as a resource for potential applicants to the FY 2015 round. These documents describe the terms and conditions for the financial structure utilized under the program and the new Alternative Financial Structure (AFS) introduced this round. The terms and conditions outlined in both term sheets are for illustrative purposes only, and are subject to further modification by the CDFI Fund. The draft term sheets are additions to the FY 2015 Guarantee Application. </p><p class="body"> Both term sheets can be found on the CDFI Fund’s website at <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">www.cdfifund.gov/bond</a> in the Program Statute, Regulations and Legal Documents section, below the Application Materials section. </p><p class="body"> <b>Questions </b> </p><p class="body"> 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 class="body"> For more information about the CDFI Bond Guarantee Program, please visit <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">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>. </p>2015-04-21T04:00:00ZUpdates122
FY 2015 CDFI Bond Guarantee Program Application Workshophttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=123FY 2015 CDFI Bond Guarantee Program Application Workshop<p class="body"> To prepare interested parties for the fiscal year (FY) 2015 round of the CDFI Bond Guarantee Program, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has announced that it will conduct a two-day workshop for potential applicants on April 30 – May 1, 2015 in Washington, D.C. </p><p class="body"> The workshop will expand the CDFI industry’s knowledge of the CDFI Bond Guarantee Program and the various ways to participate, particularly the certification, capitalization, and structuring requirements for Qualified Issuers that wish to use an alternative financing structure during the FY 2015 round of the program. </p><p class="body"> Day one of the application workshop will cover the requirements of the Alternative Financing Structure in depth. Day two of the application workshop will begin with a review of the material from day one and review general program requirements. Participants may register for either one or both of the sessions, although it’s highly encouraged that participants attend both days. Attendees will have the opportunity to ask questions and receive clarification about the topics covered in the workshop. </p><p class="body"> Prospective program participants and certified CDFIs are strongly encouraged to attend. In addition, the CDFI Fund encourages the participation of community development trade groups and associations and others interested in community economic development finance. </p><p class="body"> The CDFI Fund has more information about the FY 2015 round, including important due dates and deadlines, on the CDFI Fund’s <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">website</a>. </p><p class="body"> <b>CDFI Bond Guarantee Program Application Workshop</b> </p><p class="body"> 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 100 participants may attend each day of the workshop. <b>Registration for both days of the workshop closes at 5 p.m. EDT on April 27, 2015</b>. </p><p class="body"> <i>Day 1 – Alternative Financing Structure requirements – for potential and existing program participants.</i><br> April 30, 2015 from 10:00 a.m. – 4:30 p.m. EDT<br><a href="http://www.cvent.com/events/cdfi-bond-guarantee-program-application-workshops/event-summary-f2dcbadf69544b0cac32bd7c100a3824.aspx" target="_blank">Register Now</a> </p><p class="body"> <i>Day 2 – Alternative Financing Structure requirements, continued, and general program requirements – for potential and existing program participants.</i><br> May 1, 2015 from 9:00 a.m. – 4:30 p.m. EDT<br><a href="http://www.cvent.com/events/cdfi-bond-guarantee-program-application-workshops/event-summary-f2dcbadf69544b0cac32bd7c100a3824.aspx" target="_blank">Register Now</a> </p><p class="body"> Both sessions will be held at the CDFI Fund’s offices located at 1801 L Street, NW, Washington, DC 20036. </p><p class="body"> Sessions will include a lunch break from 12:15 p.m. to 1:30 p.m. Lunch will not be provided. </p><p class="body"> <b>Questions</b> </p><p class="body"> Questions about the workshops can be directed to the CDFI Fund’s CDFI Bond Guarantee Program Help Desk at <a href="mailto:bgp@cdfi.treas.gov">bgp@cdfi.treas.gov</a> or (202) 653-0421, option 5. Learn more about the CDFI Bond Guarantee Program at <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">www.cdfifund.gov/bond</a> or by viewing the program’s <a href="/Documents/CDFI_BOND.pdf" target="_blank">fact sheet</a>. </p>2015-04-13T04:00:00ZUpdates123
CDFI Fund Announces Change of CDFI Certification Requirements for CDFI Bond Guarantee Program Participantshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=126CDFI Fund Announces Change of CDFI Certification Requirements for CDFI Bond Guarantee Program Participants<p class="body"> Today, the Community Development Financial Institutions Fund (CDFI Fund) published in the Federal Register a revision of the regulations that govern Community Development Financial Institution (CDFI) certification as it relates to the CDFI Bond Guarantee Program. The CDFI Fund is seeking comments on the revision, which creates a means for the CDFI Fund to permit a CDFI’s Affiliate to rely on the Controlling CDFI’s activity or track record in order to meet the financing entity requirement for participation as an Eligible CDFI under the CDFI Bond Guarantee Program. </p><p class="body"> The CDFI Bond Guarantee Program supports CDFI lending by providing Guarantees for Bonds issued by Qualified Issuers as part of a Bond Issue for Eligible Community or Economic Development Purposes. The CDFI Bond Guarantee Program provides CDFIs with a new source of long-term capital and furthers the mission of the CDFI Fund to increase economic opportunity and promote community and economic development investments for underserved populations and in distressed communities in the United States. </p><p class="body"> An important component of the CDFI Fund’s authority is the certification of entities as CDFIs, which permits such entities to have access to financial assistance through the CDFI Fund’s programs, including the CDFI Bond Guarantee Program. Today, the CDFI Fund has amended the CDFI certification regulation only with respect to the financing entity requirement and participation as an Eligible CDFI in the CDFI Bond Guarantee Program. This revised regulation states that, for purposes of participating in the CDFI Bond Guarantee Program, the Eligible CDFI, if it is an Affiliate of a CDFI, need not meet the financing entity requirement based on its own merit or activity but may instead rely on the financing entity track record of the Controlling CDFI. This regulatory revision affects only the Affiliate’s ability to meet the financing entity requirement for CDFI certification: said entity must meet the other five certification criteria in accordance with the existing regulation. Full information about the amendment of the certification regulation can be found in the accompanying <i>Federal Register</i> notice. </p><p class="body"> All comments on the regulation must be received by June 9, 2015, and must be submitted in writing and sent to David Meyer, Manager, Certification, Compliance Monitoring and Evaluation, at the Community Development Financial Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington, DC 20220; by e-mail to <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a>; or by facsimile to (202) 453-2466. Please note this is not a toll free number. </p><p class="body"> For more information about the CDFI Bond Guarantee Program, please visit <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">www.cdfifund.gov/bond</a> or view the program <a href="/Documents/CDFI_BOND.pdf" target="_blank">fact sheet</a>. </p><p class="body"> <b>Related Documents</b> </p><ul><li> <a href="/Documents/Modification%20of%20CDFI%20Certification%20Requirements.pdf" target="_blank">View Related Federal Register Notice</a></li></ul>2015-04-10T04:00:00ZUpdates126
CDFI Fund Releases Workshop Schedule for Expanding CDFI Coverage in Underserved Areas Capacity Building Initiativehttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=127CDFI Fund Releases Workshop Schedule for Expanding CDFI Coverage in Underserved Areas Capacity Building Initiative<p class="body"> The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced three workshops today that are part of its <i>Expanding CDFI Coverage in Underserved Areas</i> Capacity Building Initiative training series. </p><p class="body"> The series will provide specialized training and technical assistance to certified and emerging Community Development Financial Institutions (CDFIs) seeking to expand their reach into underserved communities that currently lack a CDFI presence. The workshops include content that is applicable to all CDFI organizational structures, including loan funds, credit unions, banks, and venture capital funds. </p><p class="body"> Opportunity Finance Network (OFN) will partner with subject matter experts to provide the two-day workshops, which will help participants increase the availability of financial products and services in underserved communities in the United States. Each workshop will be tailored to address the unique needs of organizations seeking to increase and expand their presence in underserved areas. CDFI Fund staff will also be present at all of the workshops to discuss CDFI certification and how the CDFI Fund’s programs can support increasing access to financial products and services in some of the country’s most difficult-to-reach target markets. </p><p class="body"> "The CDFI Fund is committed to the expansion of CDFIs into communities that lack access to credit and affordable financial services,” said CDFI Fund Director Annie Donovan. “This workshop series will be a unique opportunity for CDFIs and emerging CDFIs to learn how to break into these markets to deliver responsible CDFI financial products and services.” </p><p class="body"> The three workshops are: </p><ul><li><b>Forming New and Affiliated CDFI Entities, June 16-17, 2015, Baltimore Branch of the Richmond Federal Reserve Bank, Baltimore, MD:</b> This workshop, provided by OFN in partnership with the Community Development Venture Capital Association (CDVCA), the National Federation of Community Development Credit Unions (NFCDCU), and the Community Development Bankers Association (CDBA), is designed for participants that are interested in forming a new CDFI loan fund or venture capital fund. The workshop is also relevant for existing CDFI banks, credit unions, loan funds, and venture capital funds that are interested in forming new, legally-affiliated CDFI entities within their existing organizational structure to serve new, underserved markets. Participants will learn to analyze unmet financial services needs in underserved markets, to evaluate the role of affiliated legal structures in serving target markets, and how to start a loan or venture capital fund.</li><br><br> <li><b>Understanding the Benefits of CDFI Status for Newly-Certified and Prospective CDFIs, July 22-23, 2015, Denver Branch of the Kansas City Federal Reserve Bank, Denver, CO:</b> This workshop, provided by OFN in partnership with NFCDCU, CDBA, and CDVCA, is geared toward newly-certified CDFIs or existing community-based banks, credit unions, loan funds, and venture capital funds that want a deeper understanding of the benefits and requirements of CDFI certification for their organization. During the workshop, participants will learn about what it means to be a certified CDFI and what some of the strategic choices are regarding pursuing CDFI certification. Participants will also learn how to measure impact, tell their CDFI’s story to funders and partners, and explore collaboration and partnership models.</li><br><br> <li><b>Expansion by Existing CDFIs, August 19-20, 2015, Kansas City Federal Reserve Bank, Kansas City, MO:</b> This workshop, provided by OFN in partnership with NFCDCU and CDBA, is targeted at existing CDFI banks, credit unions, and loan funds seeking to explore successful strategies for geographic and product expansion in underserved areas and areas of persistent poverty. During the workshop, participants will focus on successful strategies for expansion applicable to each CDFI organizational structure. The workshop will also offer an extensive overview of key operations, staffing, and technology considerations for expansion.</li></ul><p class="body"> All of the <i>Expanding CDFI Coverage in Underserved Areas</i> workshops are free of charge to participants; however, workshop attendees are responsible for their own travel, food, and incidental costs. </p><p class="body"> The training series also includes a technical assistance component, provided by OFN and its partners, which closely integrates with workshop content and includes peer cohorts, webinars, one-on-one support, and advanced sessions for CDFIs with specialized and continuing needs. The CDFI Fund encourages organizations interested in attending the workshops or applying for technical assistance to <a href="http://ofn.org/expanding-cdfi-coverage-underserved-areas" target="_blank">contact OFN for more details</a> about each training. </p><p class="body"> As with other Capacity Building Initiative series, the <i>Expanding CDFI Coverage in Underserved Areas</i> series will include the creation of an in-depth Virtual Resource Bank on the CDFI Fund’s website, which is available for the general public. The Resource Bank will include all training and reference materials presented during the training series. The Resource Bank will be available later this summer. </p><p class="body"> <b>To Register:</b> </p><p class="body"> Registration details and additional information about each training session are available online [<a href="http://ofn.org/expanding-cdfi-coverage-underserved-areas" target="_blank">http://ofn.org/expanding-cdfi-coverage-underserved-areas</a>]. Up to 80 participants can attend each workshop and attendance is on a first come, first served basis. Registration of individuals will be confirmed within two weeks of submitting your information via OFN’s registration page. Please do not make travel arrangements until OFN confirms your attendance. </p><p class="body"> To learn more about the CDFI Fund’s Capacity Building Initiative, please visit <a href="/programs-training/training-ta/Pages/default.aspx">www.cdfifund.gov/cbi</a> or view the <a href="/Documents/CDFI_CBI.pdf" target="_blank">fact sheet</a>. </p>2015-04-10T04:00:00ZUpdates127
CDFI Fund Opens Application Period for FY 2015 CDFI Bond Guarantee Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=128CDFI Fund Opens Application Period for FY 2015 CDFI Bond Guarantee Program<p class="body"> <i>Up to $750 Million in Bond Guarantee Authority Available</i> </p><p class="body"> The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2015 application period for the CDFI Bond Guarantee Program. Application materials are available on the CDFI Fund’s website in anticipation of the publication of the Notice of Guarantee Authority (NOGA) in the Federal Register later this week. The NOGA makes up to $750 million in bond guarantee authority available to eligible Community Development Financial Institutions (CDFIs) in FY 2015. </p><p class="body"> Through the CDFI Bond Guarantee Program, selected certified CDFIs or their designees will issue bonds that are guaranteed by the Federal government and use the bond proceeds to extend capital for community development financing and for long-term community investments. Authorized uses of the loans financed through bond proceeds may 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 class="body"> For FY 2015, the Secretary of the Treasury may guarantee bond issues having a minimum size of $100 million each, up to an aggregate total of $750 million. Multiple CDFIs may pool together in a single $100 million bond issuance provided that each eligible CDFI participates at a minimum of $10 million. </p><p class="body"> New this application round, the CDFI Fund will review Guarantee Applications submitted by Qualified Issuers that propose to use alternative financing structures. The FY 2015 NOGA describes how an Affiliate of a Controlling CDFI may apply for CDFI certification for the sole purpose of participating as an Eligible CDFI in the CDFI Bond Guarantee Program. The NOGA describes each CDFI certification criterion and how it applies to the Affiliate/Controlling CDFI proposal. </p><p class="body"> <b>Deadlines</b> </p><p class="body"> Please reference the NOGA and application instructions for detailed information regarding the following application deadlines for consideration for FY 2015 bond guarantee authority. </p><ul><li>CDFI Certification Applications must be submitted through myCDFIFund by 11:59 p.m. EDT on May 22, 2015.</li><li>Qualified Issuer Applications must be submitted through myCDFIFund by 11:59 p.m. EDT on June 5, 2015.</li><li>Guarantee Applications must be submitted through myCDFIFund by 11:59 p.m. EDT on June 12, 2015.</li><li>The last day the CDFI Fund will accept questions regarding the FY 2015 application period for the CDFI Bond Guarantee Program is June 10, 2015 at 11:59 p.m. EDT. All questions must be submitted electronically to the program office: <a href="mailto:bgp@cdfi.treas.gov">bgp@cdfi.treas.gov</a>.</li></ul><p class="body"> Qualified Issuer Applications and Guarantee Applications received in FY 2014 that were neither withdrawn nor declined in FY 2014 will be considered under FY 2015 authority. </p><p class="body"> <b>Application Materials</b> </p><p class="body"> In addition to being available through myCDFIFund, the FY 2015 NOGA and application materials are available via the CDFI Fund’s website, <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">www.cdfifund.gov/bond</a>. </p><p class="body"> <b>Application Workshop</b> </p><p class="body"> The CDFI Fund will conduct a two-day application workshop for potential applicants regarding the FY 2015 Qualified Issuer and Guarantee Application requirements. Specifically, the workshop will include an in-depth discussion of the financial structure of the program, including: </p><ul><li>Roles of the Qualified Issuer, Program Administrator, and Servicer;</li><li>Certification, capitalization, and structuring requirements of the Alternative Financing Structure;</li><li>Capital Distribution Plan requirements;</li><li>Eligible CDFI and Secondary Loan Requirements;</li><li>Costs of the CDFI Bond Guarantee Program;</li><li>Review processes for the Qualified Issuer and Guarantee Applications;</li><li>Reporting; and</li><li>Compliance-related activities.</li></ul><p class="body"> Attendees will have the opportunity to ask CDFI Fund staff questions and receive clarification about the topics discussed during each module. </p><p class="body"> The two-day application workshop will be held on April 30 and May 1, 2015 in Washington, DC, at the CDFI Fund’s office at 1801 L Street NW. </p><p class="body"> As the workshop is held in a secure federal building, registration is required. There is no registration fee; however, due to limited space, registration will be honored on a first come, first served basis. Up to 100 potential applicants may attend. The CDFI Fund will release information on how to register for the workshop on April 13, 2015. </p><p class="body"> For interested parties unable to attend the in-person application workshop, the presentation materials will be posted to the CDFI Fund’s website, <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">www.cdfifund.gov/bond</a>. </p><p class="body"> <b>Questions</b> </p><p class="body"> 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 class="body"> For more information about the CDFI Bond Guarantee Program, please visit <a href="/programs-training/Programs/cdfi-bond/Pages/default.aspx">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>. </p>2015-04-10T04:00:00ZUpdates128

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