CDFI News

 

 

CDFI Fund's Advisory Board to Meet on May 17, 2016 in Washington, D.C.https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=211CDFI Fund's Advisory Board to Meet on May 17, 2016 in Washington, D.C.<p>The Community Development Financial Institutions Fund (CDFI Fund) is convening a meeting of the <a href="/about/Pages/advisory-board.aspx" target="_blank">Community Development Advisory Board </a>(the Advisory Board) from 9:00 a.m. to 4:00 p.m. Eastern Daylight Time on Tuesday, May 17, 2016. 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 the granting or denial of any particular application for monetary or non-monetary awards.</p><p>Please use the following link to view the official meeting notice:​​​​ <a href="https://federalregister.gov/a/2016-10194" target="_blank">https://federalregister.gov/a/2016-10194</a></p> <p> <b>Meeting Registration & Deadline</b></p><p>The Cash 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.</p><p>Registration will close at 11:59 p.m. Eastern Daylight Time on May 10, 2016, or once the room capacity is reached. To register, each member of the public must provide the personal information requested in the registration system. 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/d/4fqvg0" target="_blank">http://www.cvent.com/d/4fqvg0</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 <a href="mailto:Marcia.Wilson@treasury.gov">Marcia.Wilson@treasury.gov</a>.</p><p>Please be aware that the Treasury building has stairs outside of the main entrance.</p><p> <b>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 webcast: <a href="http://www.yorkcast.com/treasury/events/2016/05/17/cdfi/" target="_blank">http://www.yorkcast.com/treasury/events/2016/05/17/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) 653-0300 or via e-mail at <a href="mailto:AdvisoryBoard@cdfi.treas.gov">AdvisoryBoard@cdfi.treas.gov</a>.</p>2016-04-29T04:00:00ZUpdates211
2016 Capital Magnet Fund Round Update: Application Demand and Application Review Processhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=2102016 Capital Magnet Fund Round Update: Application Demand and Application Review Process<p>​​The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received a total of 125 applications under the fiscal year (FY) 2016 round of the Capital Magnet Fund. The Capital Magnet Fund offers competitively awarded grants to finance affordable housing solutions and community revitalization efforts that benefit low-income people and communities nationwide.</p><p>The Community Development Financial Institutions (CDFIs) and non-profit affordable housing providers that applied under the FY 2016 round are headquartered in 38 states and the District of Columbia. The applicants requested an aggregate total of $609.1 million in Capital Magnet Fund awards, far exceeding the $93.47 million available for awards under the FY 2016 round.</p><p>In addition, the CDFI Fund has made an update to its Application Review and Selection Process as originally outlined in Section V of the FY 2016 Capital Magnet Fund Notice of Funds Availability (NOFA). Given that the Capital Magnet Fund application process was new to many applicants, the CDFI Fund has determined that it will forward all eligible applicants to the external qualitative review stage, rather than only those who score sufficiently high in the quantitative review stage. This update to the review process will allow all applicants to receive a full external review.</p><p>For more information on the Application Review and Selection process, please review the FY 2016 Capital Magnet Fund NOFA and the application materials on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a> under How to Apply Step 2: Apply.</p><p>For more information about the Capital Magnet Fund, visit the CDFI Fund’s web site at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a>.</p>2016-04-21T04:00:00ZUpdates210
CDFI Fund Combines CY 2015 and 2016 Rounds of New Markets Tax Credit Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=209CDFI Fund Combines CY 2015 and 2016 Rounds of New Markets Tax Credit Program<p> <i>Combined Round Will Provide Up To $7 Billion in Allocation Authority</i></p><p>The Community Development Financial Institutions Fund (CDFI Fund) has amended its Notice of Allocation Availability (NOAA) for the calendar year (CY) 2015 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is releasing the amended NOAA in advance of its publication in the Federal Register later this week. The NOAA has been revised to include the following:</p><ul><li><p>The combination of the CY 2015 and the CY 2016 NMTC allocation authorities into one allocation round (the “combined CY 2015 – 2016 allocation round”); and</p></li><li><p>An increase in allocation authority available to award for the combined CY 2015 – 2016 round from $5.0 billion to $7.0 billion.</p></li></ul><p>The NMTC Program is an important tool for communities to attract private investment for community development and economic revitalization. In December 2015, Congress authorized the program for five years. By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.</p><p>The CDFI Fund is not re-opening the combined CY 2015 – 2016 round for new applications. All allocation determinations will be made from the existing pool of applications submitted for the CY 2015 round. The CDFI Fund received 238 applications requesting an aggregate total of $17.6 billion in NMTC allocation authority.</p><p>Currently, the CDFI Fund anticipates announcing the CY 2015 – 2016 NMTC Program allocations in late 2016.</p><p> <b>Related Documents</b></p><ul><li><p><a href="/Documents/2015%20NMTC%20NOAA%20Amendment.pdf" target="_blank">Federal Register Notice</a></p></li><li><p><a href="/Documents/NMTC%20NOAA%20QA%20FINAL%20041216.pdf" target="_blank">Frequently Asked Questions</a> </p></li></ul><p>To learn more about the CDFI Fund and its programs, please visit www.cdfifund.gov. Questions about the CY 2015 – 2016 NOAA should be submitted to the CDFI Fund’s Help Desk at (202) 653-0421 or <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a>.  </p> 2016-04-18T04:00:00ZUpdates209
CDFI Fund Releases Final Webinar Schedule for Expanding CDFI Coverage in Underserved Areas Traininghttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=208CDFI Fund Releases Final Webinar Schedule for Expanding CDFI Coverage in Underserved Areas Training<p>The final five webinars for the Community Development Financial Institutions Fund (CDFI Fund)’s Expanding CDFI Coverage in Underserved Areas training series have been scheduled. The series, part of the CDFI Fund’s Capacity Building Initiative, provides specialized training and technical assistance to certified and emerging CDFIs to extend their reach into certain underserved communities in the United States that currently lack a CDFI presence. </p><p>The free webinars, provided by Opportunity Finance Network (OFN) and its partners, are intended to maximize Community Development Financial Institution (CDFI) participation in this important training. </p><p>The five webinars will be held between April and June, 2016. The webinars are:</p><ul><li><p><b>Portfolio Management: Best Practices for Definitions and Reporting to Funders and Partners</b> (Tuesday, April 19, 2016, 2 p.m. EDT): Feeling a bit fuzzy on loan portfolio definitions and reporting? Join this webinar to learn about best practices and to hear about the latest research in the field in order to help you tell your story and accurately report your portfolio performance to funders and partners. If you need additional capital to support your expansion plans, knowing how to describe and report on your portfolio performance is critical. Join the webinar to learn how from experts in the field.</p></li><li><p><b>Adding a Near-Equity Product to Your Toolbox</b> (Tuesday, May 3, 2016, 2 p.m. EDT): Many CDFIs are eager to learn about near-equity products to complement their lending and development services activities. This webinar will introduce key concepts, including how to know if your organization is a good candidate for offering equity products and what kind of customers might benefit from a near-equity investment.</p></li><li><p><b>Small Dollar Loans</b> (Tuesday, May 17, 2016, 2 p.m. EDT): Small dollar loans can provide much-needed capital to low-income, low-wealth consumers and small businesses. Join this webinar to learn about developing quality small dollar loan products designed to align borrower success and lender profitability.</p></li><li><p><b>Expanding Capacity for Credit Unions through High-Impact Products and Services</b> (Tuesday, May 31, 2016, 2 p.m. EDT): Geared toward community development credit unions, this webinar is focused on expanding coverage in underserved areas through high-impact products and services. CDFI credit unions offer loans and services in some of the nation’s most economically disadvantaged communities. Come learn about high-impact products and services that respond to the needs of underserved markets and support growth and profitability for community development credit unions.</p></li><li><p><b>Looking Forward: Industry Trends</b> (Tuesday, June 14, 2016, 2 p.m. EDT): Is your business model evolving? What are your sources of capital, and how should they change? What lies ahead for the CDFI industry? How might these questions inform your strategies for growth and expansion of coverage in underserved areas? Join this webinar to learn about new research illuminating how to look forward about industry trends so that you can position your CDFI for expansion. </p></li></ul><p><b>Registration</b></p><p>The Expanding CDFI Coverage in Underserved Areas webinars are free and open to the general public, but advanced registration is required to access the live presentations. Registration may be completed up until the start time listed for each individual session. </p><p><a href="http://ofn.org/expanding-cdfi-coverage-underserved-areas#Technical-Assistance-Webinars" target="_blank">Click here to register.</a></p><p><b>Resource Bank </b></p><p>The CDFI Fund has also added an Expanding CDFI Coverage in Underserved Areas Virtual Resource Bank to its website. The new Resource Bank supplements the training and webinar series with reference materials for CDFIs, community development practitioners, and the general public. The Expanding CDFI Coverage in Underserved Areas Resource Bank includes the series’ training materials, additional publications, and tools. The topics covered are relevant for CDFI banks, credit unions, loan funds, and venture capital funds seeking to expand their coverage. Past webinars will also be archived and added to the Resource Bank. </p><p><a href="/programs-training/training-ta/Pages/resource-bank.aspx?Name=Expanding%20CDFI%20Coverage%20in%20Underserved%20Areas" target="_blank">View the Resource Bank here. </a></p><p>To learn more about Expanding CDFI Coverage in Underserved Areas series and the other training series available under the Capacity Building Initiative, please visit <a href="http://www.cdfifund.gov/cbi" target="_blank">www.cdfifund.gov/cbi</a>.  </p> 2016-04-08T04:00:00ZUpdates208

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