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CDFI Fund Website Service Outage Notification https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=181CDFI Fund Website Service Outage Notification <p>The CDFI Fund will be performing planned system maintenance next weekend. As a result, <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a> will be unavailable beginning 10 p.m. Eastern Time Friday, November 6 through 6 a.m. Eastern Time Saturday, November 7, 2015. During this time, the Awards Management Information System (AMIS) can still be accessed by visiting <a href="http://amis.cdfifund.gov/" target="_blank">http://amis.cdfifund.gov</a> directly. </p><p>Please contact the IT Help Desk at (202) 653-0300 or <a href="mailto:IThelpdesk@cdfi.treas.gov">IThelpdesk@cdfi.treas.gov</a> prior to the outage date if you have any questions or require more information. We apologize for any inconvenience that this may cause, and appreciate your patience and cooperation. </p>2015-10-30T04:00:00ZUpdates181
Update for CY 2015 NMTC Program Applicantshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=182Update for CY 2015 NMTC Program Applicants<p>The Community Development Financial Institutions Fund (CDFI Fund) has provided supplemental guidance to potential calendar year (CY) 2015 New Markets Tax Credit Program (NMTC Program) applicants by updating the <a href="/Documents/NMTC%20Compliance%20Monitoring%20FAQs%20-%20(Updated%20December%202015).pdf" target="_blank">NMTC Compliance Monitoring Frequently Asked Questions </a>document on its website. </p><p>The update is to provide additional guidance regarding the use of Qualified Low-Income Community Investments proceeds to pay a debt or equity provider to monetize an asset as addressed in Question 44 of the document, and to clarify the guidance’s applicability to the CY 2015 NMTC Program application round. </p><p>The document may be viewed on the New Markets Tax Credit (NMTC) Program page, <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a>, under How to Apply Step 5: Compliance and Reporting. Additional questions may be directed to the CDFI Fund’s Help Desk at <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a> or (202) 653-0421. Please keep in mind that the deadline for any phone calls or emails to the CDFI Fund with questions concerning the application is <b>5:00 p.m. EST on December 14, 2015. </b> </p><p>For more information about the CDFI Fund and its programs, please visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>. </p>2015-10-30T04:00:00ZUpdates182
CDFI Fund Opens CY 2015 Round of New Markets Tax Credit Programhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=180CDFI Fund Opens CY 2015 Round of New Markets Tax Credit Program<p>The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) released today the <a href="/Documents/NOAA%2015%20-%20correct%20signature.pdf" target="_blank">Notice of Allocation Availability (NOAA)</a> for the calendar year (CY) 2015 round of the New Markets Tax Credit Program (NMTC Program). The NOAA makes up to $5 billion in tax credit allocation authority available for the CY 2015 round, pending Congressional authorization. The CDFI Fund provided the NOAA on its website in anticipation of its publication in the Federal Register later this week. </p><p>The New Markets Tax Credit spurs investment of private sector capital into distressed communities by providing a tax credit to corporate or individual taxpayers who make qualified equity investments in designated Community Development Entities (CDEs). The CDEs, in turn, invest the capital raised into projects and businesses in low-income communities. The credit provided to the investor totals 39 percent of the investment in a CDE and is claimed over a seven-year credit allowance period. </p><p>The CDFI Fund has made 912 awards—totaling $43.5 billion in tax credit allocation authority—to CDEs through the NMTC Program since the program’s inception. More information about the NMTC Program can be found on the program’s <a href="/nmtc" target="_blank">website</a> or in the program’s <a href="/Documents/CDFI_NMTC.pdf" target="_blank">fact sheet</a>. </p><p> <b>Important Deadlines </b></p><ul><li><p>CDE Certification Application: November 6, 2015 </p></li><li><p>NMTC Electronic Application submission: December 16, 2015 </p></li><li><p>Prior Allocatees' Issuance of Qualified Equity Investments: January 29, 2016 </p></li></ul><p>Please refer to the NOAA for more details about these and other deadlines. </p><p> <b>Application Materials </b></p><ul><li><p>NMTC application materials and resources are available at <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a> under <a href="/programs-training/Programs/new-markets-tax-credit/Pages/apply-step.aspx#step2">How to Apply Step 2: Apply</a>. </p></li><li><p>CDE Certification application resources are available at <a href="http://www.cdfifund.gov/cde" target="_blank">www.cdfifund.gov/cde</a> under <a href="/programs-training/certification/cde/Pages/apply-step.aspx#step1">How to Apply Step 1: Apply</a>. </p></li></ul><p> <b>Learn About Applying and Compliance for the NMTC Program </b></p><p>To provide more information about the NMTC Program and the application process, the CDFI Fund has posted presentations for potential applicants on the NMTC Program page, <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a>, under <a href="/programs-training/Programs/new-markets-tax-credit/Pages/apply-step.aspx#step2" target="_blank">How to Apply Step 2: Apply</a>. </p><p>In addition to the detailed information that is available through the NOAA, NMTC application, and presentations, the CDFI Fund will conduct two one-hour conference calls to answer application questions. Please see below for the dates and times for each call. No presentations will be given during the calls; only questions from participants will be addressed. </p><p> <i>NMTC Application Conference Calls</i></p><ul><li><p>Tuesday, October 27, 2015, 2:00 p.m. EDT </p></li><li><p>Thursday, October 29, 2015, 3:30 p.m. EDT </p></li></ul><p>The dial-in number and passcodes are the same for both calls. The dial-in number is <i>1-888-469-1239</i> and the pass code is <i>5561021.</i> No prior registration is necessary. 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 conference calls begin.</p><p> <i>NMTC Certification, Compliance Monitoring, and Evaluation Frequently Asked Questions</i></p><p>To provide additional resources for applicants, an updated Frequently Asked Questions (FAQ) document for NMTC certification, compliance monitoring, and evaluation questions is now available on the CDFI Fund’s website. Updated guidance includes information on the use of Qualified Equity Investment and Qualified Low-Income Community Investment proceeds; defining activities that “support health related services;” “Innovative Investments;” and a revision to the definitions of Real Estate Qualified Active Low-Income Community Businesses (QALICBs) versus Non-Real Estate QALICBs. The FAQ document may be viewed on the New Markets Tax Credit (NMTC) Program page, <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a>, under <a href="/programs-training/Programs/new-markets-tax-credit/Pages/compliance-step.aspx#step5" target="_blank">How to Apply Step 5: Compliance and Reporting</a>. </p><p> <b>Questions</b> </p><p>For more information on the NMTC application or certification as a CDE, please contact the CDFI Fund’s Help Desk at <a href="mailto:cdfihelp@cdfi.treas.gov">cdfihelp@cdfi.treas.gov</a> or 202-653-0421. </p><p>Learn more about the CDFI Fund and its programs at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.   </p>2015-10-21T04:00:00ZUpdates180
CDFI Fund Selects Contractor for NMTC Program Workshop and Technical Assistance Traininghttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=179CDFI Fund Selects Contractor for NMTC Program Workshop and Technical Assistance Training<p>The Community Development Financial Institutions Fund (CDFI Fund) has selected a contractor to provide group training and individual technical assistance to certified Community Development Entities (CDEs) that meet the CDFI Fund’s definition of a Minority CDE. The training will inform Minority CDEs on how they can participate in the New Markets Tax Credit Program (NMTC Program). </p><p>The CDFI Fund awarded the contract to National Community Investment Fund (NCIF), a certified Community Development Financial Institution and CDE that has more than ten years’ experience with the NMTC Program. As an organization, NCIF invests capital in institutions, primarily banks, that increase access to responsible financial products and services in underserved communities. NCIF was selected based on the strength of its experienced staff, as well as the involvement of subject matter experts who will bring extensive NMTC experience and needs assessment capabilities to the trainings.</p><p>The new training workshops will target certified CDEs that are minority-controlled not-for-profit entities, minority-owned for-profit entities, or Minority Depository Institutions (MDIs). Training participants will be able to discuss with experienced practitioners the various ways of participating in the NMTC Program, whether as an investor, an allocatee, a leverage lender, a direct lender to a qualified business, or a secondary CDE. </p><p>In addition, CDEs that have completed the training curriculum will have the opportunity to receive customized technical assistance based upon their operational priorities.</p><p>The CDFI Fund and NCIF will release more details about how to apply for the training and workshop dates and locations as they are finalized in the coming months. To learn more about the NMTC Program, please visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/nmtc" target="_blank">www.cdfifund.gov/nmtc</a> or view the <a href="/programs-training/Programs/new-markets-tax-credit/Pages/default.aspx" target="_blank">program’s fact sheet</a>.</p>2015-10-06T04:00:00ZUpdates179

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