CDFI News

 

 

CDFI Fund Extends Comment Period on Capital Magnet Fund Interim Rulehttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=207CDFI Fund Extends Comment Period on Capital Magnet Fund Interim Rule<p>Today, the Community Development Financial Institutions Fund (CDFI Fund) published an extension of the Request for Public Comment on the Capital Magnet Fund Interim Rule in the Federal Register. Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified non-profit housing organizations. Capital Magnet Fund awards finance affordable housing activities, as well as related economic development activities and community service facilities.</p><p>The CDFI Fund originally published the Interim Rule on February 8, 2016. In order to allow interested Capital Magnet Fund program applicants, Community Development Financial Institutions, non-profit housing organizations, and the general public the maximum time available to provide comments on the Interim Rule, the CDFI Fund is extending the comment period. </p><p>Comments on the Interim Rule must be submitted by May 8, 2016. As the comments are regarding a Federal Rule, they must be submitted via the Federal e-Rulemaking Portal at <a href="http://www.regulations.gov/" target="_blank">http://www.regulations.gov</a> (please follow the instructions for submitting comments). Comments submitted directly to the CDFI Fund will not be considered. </p><p>If you have clarifying questions related to the Interim Rule please contact Marcia Sigal, Capital Magnet Fund Program Manager, at <a href="mailto:cmf@cdfi.treas.gov">cmf@cdfi.treas.gov</a>. </p><p>The CDFI Fund opened the fiscal year 2016 round of the Capital Magnet Fund on February 2, 2016. Interested applicants were required to submit the SF-424 for their application through Grants.gov by March 16, 2016. The deadline for the submission of the remainder of the application materials through the CDFI Fund’s Awards Management Information System is March 30, 2016. For more information about the Capital Magnet Fund, please visit <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a>.  </p><p><b>Related Documents </b></p><ul><li><p><a href="/Documents/CMF%20Federal%20Register%20031716%202016-06030.pdf" target="_blank">Extension of Comment Period for Capital Magnet Fund Interim Rule</a></p></li><li><p><a href="/Documents/Interim%20Rule%20FR%202016-02132.pdf" target="_blank">Capital Magnet Fund Interim Rule (as amended February 8, 2016)</a></p></li></ul> 2016-03-17T04:00:00ZUpdates207
Reminder: Upcoming Deadlines for FY 2016 CDFI Program and NACA Program Roundhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=206Reminder: Upcoming Deadlines for FY 2016 CDFI Program and NACA Program Round<p>As a reminder for potential fiscal year (FY) 2016 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 <b>March 18, 2016 at 11:59 PM Eastern.</b> The deadline for online submission of the rest of the <a href="/programs-training/Programs/cdfi-program/Pages/apply-step.aspx" target="_blank">application materials </a>through the CDFI Fund’s Awards Management Information System (AMIS) is April 18, 2016 at 11:59 PM Eastern. </p><p>The SF-424 for the CDFI Program and NACA Program can be found at Grants.gov by entering the key word CDFI, then following the instructions to download and open the document. Guidance on how to complete the SF-424 is located in the updated <a href="/Documents/Application%20Quick%20Start%20Guide%20revised%203.9.16.pdf" target="_blank">CDFI and NACA Program Quick Start Guide</a>. </p><p>The CDFI Fund has also made available on its website a <a href="/Documents/CDFI%20Fund%20AMIS%20-%20Training%20Manual%20-%20AE103-CDFI_NACA%20Final.pdf" target="_blank">CDFI Program and NACA Program AMIS Training Manual </a>which provides comprehensive instructions on how to create, complete, and submit an application in AMIS. The CDFI Fund also anticipates releasing an updated Frequently Asked Questions document and recorded walkthroughs of the AMIS application later this week. </p><p>All of the guidance and application materials for the FY 2016 application round are posted on the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cdfi" target="_blank">www.cdfifund.gov/cdfi</a> under <a href="/programs-training/Programs/cdfi-program/Pages/apply-step.aspx" target="_blank">How to Apply Step 2: Apply</a>. </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>2016-03-14T04:00:00ZUpdates206
Important Update for FY 2016 Capital Magnet Fund Applicants: Award Amount and FAQshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=205Important Update for FY 2016 Capital Magnet Fund Applicants: Award Amount and FAQs<p>The Community Development Financial Institutions Fund (CDFI Fund) has determined that there will be $93,472,163 available in awards under the fiscal year (FY) 2016 round of the Capital Magnet Fund. Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified nonprofit housing organizations. Capital Magnet Fund awards finance affordable housing activities, as well as related economic development activities and community service facilities.</p><p>Potential fiscal year (FY) 2016 Capital Magnet Fund applicants should remember that the deadline for online submission of the SF-424 through Grants.gov for this year’s round is <b>March 16, 2016.</b> The deadline for online submission of the rest of the application materials through the CDFI Fund’s Awards Management Information System (AMIS) is <b>March 30, 2016.</b> Applications must be filed in both Grants.gov and AMIS in order to be considered complete by the CDFI Fund. </p><p>In addition, the CDFI Fund has recently updated the supplemental guidance materials available for the FY 2016 round. An updated Frequently Asked Questions document is now available that covers Capital Magnet Fund activities that are not direct loans or investments to borrowers or properties; leverage ratios; Eligible Project Costs; and other topics. </p><p>The updated Frequently Asked Questions document also provides new guidance on how to complete the AMIS application (including selecting your SF-424 in AMIS). The CDFI Fund has made available on its website a recording of the last FY 2016 Capital Magnet Fund AMIS Technical Webinar held on March 3, 2016, which provides a walkthrough of completing the Capital Magnet Fund application in AMIS. </p><p>All of the guidance and application materials for the FY 2016 application round are posted 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>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>2016-03-10T05:00:00ZUpdates205
Reminder: AMIS is Available!https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=203Reminder: AMIS is Available!<p>The Community Development Financial Institutions Fund (CDFI Fund) launched the Awards Management Information System (AMIS) in September 2015. AMIS is an enterprise-wide business system that is gradually replacing the myCDFIFund portal. Since the launch we have continued to implement updates and improvements to the AMIS tool, including accepting applications for our award programs directly in AMIS. </p><p>As the fiscal year (FY) 2016 rounds of the Capital Magnet Fund, Community Development Financial Institutions Program (CDFI Program), and Native American CDFI Assistance Program (NACA Program) are now open and currently accepting applications through AMIS, we wanted to remind users of AMIS’s features and resources. </p><p>AMIS is a modern platform that will eventually support all CDFI Fund programs through each phase of the programs’ life cycle, including certification, program awards and allocations, data analysis, and reporting. </p><p>Currently, AMIS can be used for the following:</p><ul><li><p>Organization and user profiles creation and maintenance. Once you submit your information at the organization level it can be used across all CDFI Fund programs and will not need to be submitted again. </p></li><li><p>Annual Certification Report for CDFIs</p></li> <li><p>CDE Certification application submission</p></li><li><p>Capital Magnet Fund application submission</p></li><li><p>CDFI Program and NACA Program application submission</p></li></ul><p>The CDFI Fund’s other programs and additional capabilities will be added to the AMIS platform in the coming months.</p><p>To assist applicants and organizations with using AMIS, the CDFI Fund has developed multiple AMIS navigation, application, and frequently asked questions manuals. These training manuals can be found on our AMIS page at <a href="https://amis.cdfifund.gov/" target="_blank">amis.cdfifund.gov</a>.     </p><p> <b>AMIS Help and Technical Issues</b></p><p>Do you need additional help, or have you discovered a technical issue in AMIS? Through AMIS, the CDFI Fund is providing a new way to request assistance with technical problems, amendment requests, and program questions. The “Service Request” function in AMIS allows you to interact with the CDFI Fund directly from your account. By using a Service Request, the CDFI Fund will be able to efficiently track and manage your requests and questions. </p><p>Learn how to submit a service request in the “Getting Started – Navigating AMIS” training document, which can be found on our AMIS page at <a href="https://amis.cdfifund.gov/" target="_blank">amis.cdifund.gov</a>. You can also call the Help Desk phone number – (202) 653-0421 – to speak to a member of our staff; however, we urge you to give Service Request a try! </p><p>We appreciate your feedback as we perfect our new system. AMIS will be an evolving platform, and the CDFI Fund will continue to engage with you as we work on future improvements. </p><p>More information about AMIS is available at <a href="https://amis.cdfifund.gov/" target="_blank">amis.cdfifund.gov</a>. To learn more about the CDFI Fund’s programs, please visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.   </p>2016-03-04T05:00:00ZUpdates203
CDFI Fund Implements Annual Certification Report https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=202CDFI Fund Implements Annual Certification Report <p> <i>Mandatory Annual Report will Replace Three-Year Recertification Requirement for all CDFIs</i></p> <p>The Community Development Financial Institutions Fund (CDFI Fund) launched today a new mandatory Annual Certification Report for all certified Community Development Financial Institutions (CDFIs). The Annual Certification Report, which must be completed in the CDFI Fund’s Awards Management Information System (AMIS), will allow the CDFI Fund to annually assess certified CDFIs’ compliance with certification rules. </p><p> <b>How Does this Affect My Organization?</b></p><p>All certified CDFIs must comply with the annual reporting compliant to maintain their certification. Reporting deadlines will be based upon the CDFI’s fiscal year end. Beginning with organizations with fiscal years that end in April through September, the CDFI Fund will issue replacement CDFI certification letters that outline the new requirement and reporting deadlines. The new certification letter replaces the previously-implemented three year term for certification. </p><p>Failure to file an Annual Certification Report will result in a loss of certification status and can lead to additional sanctions. </p><p> <b>How Do I Complete the Report?</b></p><p>The CDFI Fund will send new certification letters and reporting requirements to CDFIs on a rolling basis, beginning with CDFIs with fiscal years ending in April through September. CDFIs will use data from their last complete fiscal year to complete the report for most organizational financial information (fiscal year (FY) 2015 in most cases). </p><p>The reporting deadlines for the first annual report is as follows:</p><ul><li><p>Fiscal Year End from April 1, 2015 to September 30, 2015 - Report Due April 30, 2016</p></li><li><p>Fiscal Year End October 1, 2015 to March 31, 2016 – Report Due July 31, 2016</p></li></ul><p>The CDFI Fund will provide additional information and guidance about deadlines for the report in future years after the completion of the FY 2016 reporting requirement.</p><p> <b>Guidance and Instructions</b></p><p>The CDFI Fund has posted to its website’s <a href="/programs-training/certification/cdfi/Pages/reporting-step.aspx" target="_blank">Certification page</a> instructions for completing the Annual Certification Report, along with a helpful glossary of terms. These guidance documents can be found on <a href="http://www.cdfifund.gov/cdficert" target="_blank">www.cdfifund.gov/cdficert</a>, under How to Apply Step 2: Reporting. </p><p> <b>Webinars</b></p><p>The CDFI Fund will host training webinars on Tuesday, March 15, 2016 at 2:00 p.m. ET and Thursday, March 17, 2016 at 2:00 p.m. ET to provide training for CDFIs that must report in April. Access information for the webinars can be found on the CDFI Fund’s <a href="http://www.cdfifund.gov/cdficert" target="_blank">Certification website </a>under How to Apply Step 2: Reporting. Additional webinars will also be scheduled to assist CDFIs with later reporting dates. The CDFI Fund will release information about additional webinars when available. </p><p> <b>Questions</b></p><p>For questions about the Annual Certification Report, please contact the Certification, Compliance Monitoring and Evaluation Help Desk at <a href="mailto:ccme@cdfi.treas.gov" target="_blank">ccme@cdfi.treas.gov</a> or (202) 653-0421. The CDFI Fund encourages technical questions about AMIS to be submitted through AMIS Service Requests or by e-mailing <a href="mailto:AMIS@cdfi.treas.gov">AMIS@cdfi.treas.gov</a>. For more information about the CDFI Fund, please visit <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.  </p>2016-03-03T05:00:00ZUpdates202

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