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Treasury Guarantees $265 Million in Bond Funding for Projects in Low-Income Communitieshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=232Treasury Guarantees $265 Million in Bond Funding for Projects in Low-Income Communities<p><strong>Washington, DC</strong>—the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that two bonds, totaling $265 million, were issued on behalf of four CDFIs in fiscal year (FY) 2016. A total of $1.11 billion has been guaranteed since the inception of the CDFI Bond Guarantee Program, which provides long-term, fixed-rate capital for projects in low-income urban, rural, and Native communities.</p><p>“Reaching the $1 billion mark in program commitments demonstrates how valuable the CDFI Bond Guarantee Program has become to communities in need of access to long-term capital,” said CDFI Fund Director Annie Donovan. “CDFIs are proving to be adept at utilizing this important financing tool.”</p><p>The FY 2016 program participants include:</p><ul><li><p><b>Community Reinvestment Fund, USA</b> issued a $165 million bond on behalf of three Eligible CDFIs:</p><ul><li><p><i>Capital Impact Partners,</i> headquartered in Arlington, VA, received a $40 million bond loan to finance licensed senior living and long-term care facilities, commercial real estate, rental housing, healthcare facilities, and charter schools.</p></li><li><p><i>Low Income Investment Fund</i>, headquartered in San Francisco, CA, received a $50 million bond loan to finance daycare centers, licensed senior living and long term care facilities, commercial real estate, rental housing, healthcare facilities, and charter schools.</p></li><li><p><i>The Reinvestment Fund</i>, headquartered in Philadelphia, PA, received a $75 million bond loan to finance small businesses, daycare centers, commercial real estate, rental housing, and healthcare facilities.</p></li></ul></li><li><p><b>Bank of America</b> issued a $100 million bond on behalf of <i>Self-Help Ventures Fund.</i> Self-Help Ventures Fund is headquartered in Durham, NC, and will use the bond loan to finance commercial real estate and charter schools.</p></li></ul><p>Established by the Small Business Jobs Act of 2010, the CDFI Bond Guarantee Program responds to a critical market need—low-cost capital to spur economic growth and jump start community revitalization. Under the program, Qualified Issuers (CDFIs or their designees) apply to the CDFI Fund for authorization to issue bonds worth a minimum of $100 million in total. The bonds provide CDFIs with access to substantial long-term, fixed-rate capital to reignite the economies of distressed communities. </p><p>The program enables CDFIs to execute large-scale projects, including the development of commercial real estate, housing units, charter schools, daycare or healthcare centers, and rural infrastructure projects. </p><p><b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2.2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $1.1 billion has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the <a href="/Documents/CDFI_Brochure%20Updated%20Jan2016.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  </p> 2016-09-28T04:00:00ZPress Releases232
U.S. Treasury Awards $185 Million for Community Development in Low-Income Communitieshttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=231U.S. Treasury Awards $185 Million for Community Development in Low-Income Communities<p> <i>Funds Support CDFI Investment and Revitalization Activity in Distressed Urban, Rural and Native Communities</i></p><p> <b>Washington-</b>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) awarded 196 Community Development Financial Institutions (CDFIs) $185.7 million in grants and loans today. The awards, through the fiscal year (FY) 2016 rounds of the Community Development Financial Institutions Program (CDFI Program) and the Native American CDFI Assistance Program (NACA Program), will enable CDFIs and Native CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.</p><p>“With today’s awards, the CDFI Fund has crossed the $2 billion threshold in collective investments to CDFIs and Native CDFIs through the CDFI and NACA Programs,” said CDFI Fund Director Annie Donovan. “This milestone underscores the transformative impact CDFIs are having in low-income, distressed, and underserved communities and areas of persistent poverty. In businesses financed, real estate developed, affordable housing constructed and improved access to the financial system, CDFIs are empowering change and revitalization in their communities.”</p><p>For the FY 2016 CDFI Program round, the CDFI Fund awarded $170.2 million in Financial Assistance and Technical Assistance to 158 organizations in 48 states, including the District of Columbia. This also includes $22 million awarded to nine CDFIs through the Healthy Food Financing Initiative Financial Assistance awards (HFFI-FA). A total of 457 applications were received requesting more than $675 million under this round of the CDFI program. </p><p>The CDFI Fund awarded $15.5 million in FY 2016 NACA Program Financial Assistance and Technical Assistance to 38 organizations. The program facilitates the creation and advancement of Native CDFIs. Organizations funded through the NACA Program serve a wide range of Native American, Alaska Native, and Native Hawaiian communities (Native Communities), and reflect a diversity of institutions in various stages of development, including: organizations in the early planning stages of CDFI formation; tribal entities working to certify an existing lending program; and established Native CDFIs in need of further capacity building assistance. A total of 61 applications were received requesting $38 million for the FY 2016 round, which was the CDFI Fund’s 15th round of funding with awards specifically for Native Communities. </p><p>View the full lists of FY 2016 CDFI Program and NACA Program awardees below. Additional information about the awardees will be released on the CDFI Fund’s website in the coming days. The CDFI Fund anticipates opening the FY 2017 round of the programs in early 2017. </p><p> <b>2016 CDFI Program and NACA Program Award Resources </b></p><ul><li><p>CDFI Program Award List: <a href="/Documents/FY%202016%20CDFI%20Program%20Award%20List.pdf" target="_blank">View the full group of awardees</a></p></li></ul><ul><li><p>NACA Program Award List: <a href="/Documents/FY%202016%20NACA%20Program%20Award%20List.pdf" target="_blank">View the full group of awardees</a> </p></li><li><p>CDFI Program and NACA Program Application Evaluation Process: <a href="/Documents/FY2016%20CDFI%20and%20NACA%20Application%20Evaluation%20Process%20Document.pdf" target="_blank">Learn how the awards were determined</a>. </p></li></ul><p> <b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2.2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the <a href="/Documents/CDFI_Brochure%20Updated%20Jan2016.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  </p>2016-09-27T04:00:00ZPress Releases231
CDFI Fund Announces Winners of the 2016 CDFI Prize Competitionhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=230CDFI Fund Announces Winners of the 2016 CDFI Prize Competition<p>Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is pleased to announce the winners of its <a href="/news-events/news/Pages/news-detail.aspx?NewsID=218&Category=Updates"> 2016 CDFI Prize Competition</a>. Eight organizations will receive an aggregate total of $1 million to reward innovative ideas and approaches to increasing CDFI investment and access to capital in underserved rural areas, particularly those characterized by persistent poverty. </p><p>“The CDFI Fund is excited to showcase and support Prize winners that are working across the breadth of underserved rural communities to develop breakthrough solutions to attracting capital investment and enhancing credit access,” said CDFI Fund Director Annie Donovan. “These are areas in deep need of innovations that combat persistent poverty, and we laud the entrepreneurial efforts of this year’s Prize Competition applicants.”</p><p>Winners of the 2016 CDFI Fund Prize Competition were selected based on their submission of innovative proposals that: (1) identify and promote new ideas and practices for implementation by CDFIs that serve rural areas, and/or (2) create value during and after the competition by encouraging CDFIs serving rural areas to develop new skills or practices that may have beneficial effects on the communities they serve. </p><p>From the 60 applications submitted for consideration, four winners were selected and an additional four applications were provided with honorable mentions. Winners and honorable mentions were selected from among the top applications by a panel of judges with a diverse array of experience in serving the capital and credit needs of rural communities. 2016 CDFI Prize Competition awardees include: </p><p> <b>Winners</b></p><ul><li><p> <b>1st Place:</b> Virginia Community Capital—$300,000</p></li><li><p> <b>1st Place:</b> National Federation of Community Development Credit Unions—$300,000</p></li><li><p> <b>2nd Place:</b> First Nations Oweesta—$200,000</p></li><li><p> <b>3rd Place:</b> Community Ventures—$100,000</p></li></ul><p> <b>Honorable Mentions</b></p><ul><li><p>Appalachian Community Federal Credit Union—$25,000</p></li><li><p>Community Development Corporation of Brownsville—$25,000</p></li><li><p>Craft3—$25,000</p></li><li><p>Hope Credit Union—$25,000</p></li></ul><p>View more details on the 2016 CDFI Prize Competition winners below. </p> <br> <h3>2016 CDFI Fund Prize Competition Awardee Summaries</h3> <br> <p> <b>1st Place Winner: Virginia Community Capital—$300,000</b> To address a lack of banking or financial knowledge and expertise among foundations that are interested in impact investing, VCC has created a social enterprise called Direct Investing for Good, a service providing fund aggregation, underwriting, investment servicing, and monitoring/tracking services to foundations so they can invest directly in CDFIs or co-invest with local CDFIs in community development projects. VCC intends to pilot the proposal to serve nine foundations that are members of the Appalachian Funders Network (AFN) and eventually scale the program to include all 80 members of the AFN to increase access to new capital for CDFIs and rural communities throughout Appalachia. </p><p> <b>1st Place Winner: National Federation of Community Development Credit Unions (Federation)—$300,000</b></p><p>To enable CDFI credit unions to extend their reach and provide access to secure, affordable financial services and products in underserved rural communities, the Federation is building CU Impact—“the first and only core system created specifically for CDFIs.” CU Impact will enable CDFI credit unions to interact with customers through smart phones as well as share standardized products and services designed for low-income communities with other credit unions enrolled in the system. The initiative will be piloted with Red River Mill Federal Credit Union and Shreveport Federal Credit Union, two CDFIs serving persistent poverty counties in Louisiana and Mississippi, and the Federation anticipates expanding to 30 CDFI credit unions within five years.</p><p> <b>2nd Place Winner: First Nations Oweesta—$200,000</b></p><p>To address the lack of experience and staff resources among many Native CDFIs to collect and analyze data, First Nations Oweesta has begun developing Opportunities Through Impact System (OTIS), an impact tracking platform designed specifically for Native CDFIs. The goal of the OTIS platform is to provide the technological resources—combined with the technical assistance of First Nations Oweesta—to help Native CDFIs demonstrate their impact in their communities. The initiative will be piloted with five Native CDFIs serving American Indian, Alaska Native, and Native Hawaiian communities.</p><p> <b>3rd Place Winner: Community Ventures—$100,000</b></p><p>Community Ventures proposes to create a “Build Appalachia” community facilities loan fund, an innovative new capitalization approach to attack the loss of coal-related jobs in Central Appalachia. The loan fund will target academic programs designed to prepare Appalachian residents who have lost jobs in the coal industry for new careers in high-paying, economically stable sectors, especially the healthcare sector. Much of the Central Appalachian region is medically underserved, and there is a strong demand for qualified professionals. The loan fund will also address a lack of lending capital in the region for non-business essential community facilities.</p><p> <b>Honorable Mention: Appalachian Community Federal Credit Union (ACFCU)—$25,000</b></p><p>Through new technology and innovative products and services, ACFCU is protecting underserved communities in eastern Kentucky from predatory lenders while providing access to banking services to remote customers. To reach those customers who lack proximity to a credit union branch, ACFCU will be installing three Virtual Teller Machines (VTMs) – ATM-like machines with a video screen and microphone that allow the customer to video chat with a credit union employee – in strategic locations in rural eastern Kentucky. In addition, the credit union has developed “myMoneyTrackSolutions,” a “stair step” series of services and products that can build credit, consolidate debt, and provide affordable alternatives to predatory loan products. </p><p> <b>Honorable Mention: Community Development Corporation of Brownsville (CDCB)—$25,000</b></p><p>Working with the CDFI Rio Grande Valley Multibank, CDCB has created a loan program to address the lack of access to both safe and affordable housing and financing in rural and colonia areas of South Texas. The loan program provides a phased financing and construction solution that meets the immediate housing needs of residents and can ‘grow’ or expand as the family’s financial situation improves and/or as their housing size needs increase.</p><p> <b>Honorable Mention: Craft3—$25,000</b></p><p>With widespread need to finance the replacement of failing septic systems in rural areas in Washington State, Craft3 is maximizing the reach of their Clean Water Loan product, previously implemented on the county level, through a new regional strategy. By standardizing their loan program and offering it at a regional level, they are able to enable scale, streamline county-level reporting, and create a single-administering entity. The regional approach also allows on-site sewage systems professionals who work in multiple counties to discuss the same financing option with potential borrowers regardless of physical location.</p><p> <b>Honorable Mention: Hope Credit Union—$25,000</b></p><p>To address the lack of access to capital in rural areas, Hope Credit Union has developed a strategy of taking over donated bank branches in persistent poverty counties and offering products and services appropriate to the community. HOPE’s strategy combines the donated physical infrastructure with its own robust products and services, user friendly mobile technology, and a clear commitment to community development to attract previously unbanked and underbanked rural residents into the financial mainstream.</p><p> <i>About the CDFI Fund</i></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the<a href="/Documents/CDFI_Brochure.pdf"> Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/">www.cdfifund.gov</a>.  </p>2016-09-23T04:00:00ZPress Releases230
U.S. Treasury Announces Over $90 Million in Awards for Affordable Housinghttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=228U.S. Treasury Announces Over $90 Million in Awards for Affordable Housing<p> <i>Over $900 Million in Private Sector Investment to be Leveraged by Capital Magnet Awards</i></p><p>The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 32 organizations nearly $91.5 million in grants today for the development of affordable housing and community facilities in low-income communities. These awards were made through the fiscal year 2016 round of the Capital Magnet Fund and will support financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities as well as related economic development and community service facilities such as day care centers, workforce development centers and health care clinics.</p><p>“Affordable housing remains out of reach for far too many Americans," said Antonio Weiss, Counselor to Treasury Secretary Jacob J. Lew. “This funding will enable organizations across the country‎ to expand access to affordable housing and help meet the critical needs of thousands of families.”</p><p>The 32 awardees will collectively serve 37 states and the District of Columbia. Nine of these awardees will invest 50 percent or more of their awards in non-metropolitan areas. Of the 32 awardees, 23 are Community Development Financial Institutions (CDFIs) and nine are non-profit housing organizations. The 32 awardees were selected after a merit-based competitive review of applications submitted from 125 organizations for awards in this round of the Capital Magnet Fund. </p><p>"The impact of this program will be tremendous,” said CDFI Fund Director Annie Donovan. “The program requires recipients to leverage $10 of housing and economic development investments for every $1 of federal funds meaning today’s awards will support over $900 million of investment in low-income communities.” </p><p> <b>2016 Capital Magnet Fund Award Resources</b></p><ul><li><p> <a href="/Documents/FINAL%202016%20CMF%20Award%20Book%20091916.pdf" target="_blank">Capital Magnet Fund Award Book</a></p></li><li><p> <a href="/Documents/FY2016%20Capital%20Magnet%20Fund%20Program%20Application%20Evaluation%20Process_9-13-2016.pdf" target="_blank">Capital Magnet Fund Application Review Process</a></p></li></ul><p> <b>About the CDFI Fund </b></p><p>Since its creation in 1994, the CDFI Fund has awarded more than $2 billion to CDFIs, community development organizations, and financial institutions through the CDFI Program, the NACA Program, the Bank Enterprise Award Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $43.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program, and $852 million has been guaranteed in bonds through the CDFI Bond Guarantee Program. </p><p>To learn more about the CDFI Fund and its programs, please view the <a href="/Documents/CDFI_Brochure.pdf" target="_blank">Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a>.  For more information about the Capital Magnet Fund, please view the <a href="/Documents/CMF%20Fact%20Sheet_JAN2016.pdf" target="_blank">Program Fact Sheet </a>or visit the CDFI Fund’s website at <a href="http://www.cdfifund.gov/cmf" target="_blank">www.cdfifund.gov/cmf</a>.  </p>2016-09-22T04:00:00ZPress Releases228
CDFI Fund's Lisa Jones Wins Service To America Medalhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=229CDFI Fund's Lisa Jones Wins Service To America Medal<p> <i>Ceremony Honoring Ms. Jones and Other Outstanding Federal Workers Tonight</i></p><p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is extremely proud to share with you that Lisa M. Jones will receive one of eight Samuel J. Heyman Service to America Medals for her pioneering work to launch the CDFI Bond Guarantee Program. </p><p>The Service to America Medals – also known as “the Sammies” – are highly respected awards presented by the non-profit, non-partisan Partnership for Public Service after a rigorous selection process. Often called “the Oscars of government service,” the Sammies are one of the most prestigious awards honoring our nation’s civil servants. Ms. Jones was one of 32 exceptional federal employees named as finalists for the 2016 Sammies. </p><p>The CDFI Bond Guarantee Program is a government innovation that injects new and substantial investment into our nation’s most distressed low-income communities. The program makes long-term, low-cost capital available to Community Development Financial Institutions (CDFIs) at no cost to taxpayers. As a result of the $852 million in bonds Treasury has issued since 2013, CDFIs have financed small businesses, affordable rental housing, day care centers, senior living facilities, charter schools, and health care facilities.</p><p>“The CDFI Bond Guarantee Program is a game changer for the CDFI industry,” said CDFI Fund Director Annie Donovan. “The program is a gateway to the capital markets for CDFIs, who are proving that low-income communities are credit-worthy. In the not-too-distant future, we expect the CDFIs who use this program to be attractive to a larger universe of institutional investors as bridges between distressed communities and the capital markets.”</p><p>The 32 Sammie finalists competed for eight medals in the following categories: Science and Environment; Homeland Security and Law Enforcement; National Security and International Affairs; Citizen Services; Management Excellence; and the Federal Employee of the Year. Ms. Jones is the Service to America medal winner in the Citizen Services category.</p><p>The 2016 Service to America medal winners will be honored tonight, September 20, 2016, at an award ceremony in Washington, D.C. Watch the ceremony live at <a href="http://www.servicetoamericamedals.org/" target="_blank">www.servicetoamericamedals.org</a>.  </p><p> <b>Related Links:</b></p><ul><li><p><a href="http://servicetoamericamedals.org/honorees/view_profile.php?profile=452" target="_blank">Sammie Profile for Lisa Jones</a></p></li><li><p> <a href="https://ourpublicservice.org/publications/viewcontentdetails.php?id=1299" target="_blank">Partnership for Public Service’s press release</a></p></li><li><p> <a href="http://servicetoamericamedals.org/" target="_blank">Samuel J. Heyman Service to America Medals website</a></p></li><li><p> <a href="/bond" target="_blank">CDFI Bond Guarantee Program webpage</a></p></li></ul>2016-09-20T04:00:00ZPress Releases229
Upcoming Webinar: AEO’s Innovation Challenge Solutionhttps://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=227Upcoming Webinar: AEO’s Innovation Challenge Solution<p>The Association for Enterprise Opportunity (AEO) will host a webinar on September 21, 2016 to provide additional insight into its winning <a href="/news-events/news/Pages/news-detail.aspx?NewsID=185&Category=Updates" target="_blank">2015 CDFI Fund Innovation Challenge solution</a>. </p><p>AEO’s proposed solution is a screening and assessment tool that will match small business owners who have been declined by traditional lenders with CDFIs that may be able to assist them. This webinar will focus on the perspective of bank referrers into the system. We will hear from Woodforest National Bank, the first bank that has committed to use the solution. We will also hear from Capital One Bank and JPMorgan Chase about their respective experiences with traditional referral programs and their perspectives on what an automated system would need to do to meet the needs of their banks. Finally, the webinar will preview the solution developed and share insights learned while the AEO project team and partners designed and developed the platform. CDFI Fund Director Annie Donovan will provide introductory remarks.</p><p> <b>2015 Innovation Challenge Update Webinar</b></p> <p>Wednesday, September 21, 2016<br> 1:00 p.m. EDT</p><p><a href="https://attendee.gotowebinar.com/register/6733081931244033793" target="_blank">Register to attend the webinar here. </a></p><p>Registration may be completed up to the start time of the webinar on September 21. </p><p>Learn more about AEO’s recent work by reading their <a href="http://www.aeoworks.org/index.php/site/page/category/blog/" target="_blank">blog series</a>. Visit <a href="http://www.cdfifund.gov/" target="_blank">www.cdfifund.gov</a> to learn more about the CDFI Fund and its programs.</p>2016-09-13T04:00:00ZUpdates227
CDFI Fund Releases Public Data for NMTC Program for 2003-2014https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=225CDFI Fund Releases Public Data for NMTC Program for 2003-2014<p>The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2014. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual report detailing how they invested Qualified Equity Investment (QEI) proceeds in low-income communities. These reports must be submitted to the CDFI Fund by the CDEs, along with their audited financial statements, within six months after the end of their fiscal year.</p><p>The NMTC Program enables economically distressed communities to leverage private investment capital by providing investors with a federal tax credit. All NMTC investments must meet statutory qualifications for their investors to be able to claim the tax credit. The vast majority of NMTC investments are made within statutorily defined “Low-Income Communities.” Low-Income Communities are census tracts with a poverty rate of 20 percent or greater, or a median family income at or below 80 percent of the applicable area median family income. In addition to investments located in Low-Income Communities, investments can qualify for NMTCs by using other statutory provisions designed to target certain areas or populations, including provisions for High-Migration Rural Counties, and Low-Income Targeted Populations.</p><p>Through the first 12 application rounds of the NMTC Program, the CDFI Fund has made 912 awards, allocating a total of $43.5 billion in tax credit authority to CDEs through a competitive application process. This $43.5 billion includes $3 billion in Recovery Act allocations and $1 billion of special allocation authority to be used for the recovery and redevelopment of the Gulf Opportunity Zone.</p><p>View a summary report and the full public data release below. For more information about the New Markets Tax Credit Program, please visit <a href="http://www.cdfifund.gov/nmtc">www.cdfifund.gov/nmtc</a>. </p><ul><li><p> <a href="/Documents/New%20Markets%20Tax%20Credit%20Public%20Data%20Release_origination%20year%20edit.pdf" target="_blank">New Markets Tax Credit Program Public Data Release: 2003-2014 Summary Report</a></p></li><li><p> <a href="/Documents/Copy%20of%20FY%202014%20NMTC%20Public%20Data%20Release_Version%202_edit.xlsx" target="_blank">Full FY 2014 New Markets Tax Credit Program Public Data Release</a></p></li></ul><p> <i>The documents linked in this post were updated on September 2, 2016 to update the NMTC Investment by Year table from Report Year to Origination Year.</i></p>2016-09-02T04:00:00ZUpdates225

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