CDFI News

 

 

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
CDFI Fund Releases Application Demand for FY 2016 Round of BEA Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=261CDFI Fund Releases Application Demand for FY 2016 Round of BEA Program<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today the application data for the fiscal year (FY) 2016 round of its Bank Enterprise Award Program (BEA Program). A total of 116 applications were received requesting awards of $145.6 million against the $19 million in Program Awards that are authorized for this round. These applicants are headquartered in 25 states and the District of Columbia. </p><p>The purpose of the BEA Program is to focus on the most severely economically distressed communities by providing an incentive for FDIC-insured financial institutions to increase their investments in those communities. Under the program, distressed communities are defined as census tracts where at least 30 percent of residents have incomes that are less than the national poverty level and where the unemployment rate is at least 1.5 times the national unemployment rate.</p><p>Applicants must demonstrate increased qualified activities in the form of investments in Community Development Financial Institutions (CDFIs) or in the Applicants’ lending, investing, or financial service-related activities in these economically distressed communities. Award amounts are calculated as a percentage of the increase in qualified activities from one annual reporting period to the next. </p><p>Applications are currently under review and the CDFI Fund anticipates announcing awards this coming summer. For more information about the BEA Program, visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>.  </p><p><i class="ms-rteFontSize-1">This release was updated on August 3, 2017 to correct the award amount requested.</i></p>2017-06-22T04:00:00ZUpdates261
Bank Enterprise Award Program Baseline Analysis and Evaluation Report Availablehttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=260Bank Enterprise Award Program Baseline Analysis and Evaluation Report Available<p>Now available on the Community Development Financial Institutions Fund’s (CDFI Fund’s) website is a new evaluation of the Bank Enterprise Award Program (BEA Program). Commissioned by the CDFI Fund and conducted by A. Reddix and Associates (ARDX), the Woodstock Institute, and the National Community Reinvestment Coalition, the Bank Enterprise Award Program Baseline Analysis and Evaluation is an independent, third-party evaluation of the program. </p><p> <strong>Links</strong>:</p><ul><li><p><a href="/Documents/BEA_Program_Evaluation_Volume_1_5CR_070517.pdf" target="_blank">Volume 1: Executive Summary & Report</a></p></li><li><p><a href="/Documents/BEA_Program_Evaluation_Volume_2_5CR_070517.pdf" target="_blank">Volume 2: Analytical Framework & Primary Data Collection</a> </p></li><li><p><a href="/Documents/BEA_Program_Evaluation_Volume_3_5CR_070517.pdf" target="_blank">Volume 3: Survey Instruments</a></p></li><li> <p> <a href="/Documents/BEA%20Eval%20Fact%20Sheet%20June%202017.pdf" target="_blank">Fact Sheet on BEA Program Evaluation</a></p></li></ul>2017-06-01T04:00:00ZUpdates260

 Stay In Touch

Sign up to receive news and important information.

Sign Up

 Archives