As part of the fiscal year (FY) 2025 Application round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) that opened on January 16, 2025, the Community Development Financial Institutions Fund (CDFI Fund) is inviting Applicants to compete for approximately $100 million in Housing Production-Financial Assistance (HP-FA) Awards.
About HP-FA
HP-FA Awards are available for CDFI Program and NACA Program Applicants interested in financing the production of affordable housing for low- and moderate-income families. The Awards can be used to finance the production of new developments or acquisition and rehabilitation rental housing projects affordable to families making at or below 120% Area Median Income (AMI), and/or homeownership projects affordable to families making at or below 150% of AMI. The CDFI Fund will prioritize funding Applications that focus on financing homeownership and rental housing affordable to families at or below 80% AMI.
As outlined in the FY 2025 CDFI Program and NACA Program NOFAs, additional requirements on HP-FA Awards will include a requirement to demonstrate an increase in housing production compared to the organization’s three-year track record, and that the housing financed with an HP-FA Award must be completed by the end of the Award’s three-year investment period.
Applying for HP-FA
Interested Applicants may apply for an HP-FA Award either as a supplemental Award to a Base-Financial Assistance (FA) Award or by itself without a Base-FA Award request. If an Applicant chooses to apply for only an HP-FA Award, without a Base-FA Award request, that Applicant will not be eligible to apply for any other form of FY 2025 CDFI Program or NACA Program Financial Assistance Award, including Base-FA, Disability Funds-Financial Assistance (DF-FA), Healthy Food Financing Initiative-Financial Assistance (HFFI-FA), or Persistent Poverty County-Financial Assistance (PPC-FA).
All HP-FA Applicants must complete and submit the CDFI Program or NACA Program Financial Assistance (FA) Application in the Award Management Information System (AMIS) by the Application deadline of March 21, 2025. As part of the CDFI Program or NACA Program FA Application, the Applicant will indicate if they are applying for HP-FA as a supplementary Award to a Base-FA Award, or if they are applying for HP-FA only, without a Base-FA request.
The CDFI Fund provided an overview of how Applicants can apply for an HP-FA Award in the CDFI Program and NACA Program Notices of Funds Availability (NOFAs) and the FA Application Guidance on January 16, 2025. As a follow-up, the CDFI Fund is now releasing the Excel HP-FA Application component and accompanying HP-FA Application Guidance. The Excel HP-FA Application is in the form of an offline Excel spreadsheet that must be submitted to the CDFI Fund as an attachment to an AMIS Service Request by 11:59 p.m. ET on April 4, 2025.
All HP-FA Applicants should keep in mind they are required to meet all other FY 2025 CDFI Program and NACA Program Application submission requirements and deadlines, including the March 21, 2025 Base-FA Application submission deadline, in order to be eligible for an HP-FA Award. The FA Application Guidance has detailed instructions for how Applicants requesting an HP-FA Award should complete the AMIS application, whether they are applying for only HP-FA or applying for HP-FA as a supplementary Award to a Base-FA Award.
The CDFI Fund encourages all HP-FA Applicants to carefully review the FY 2025 CDFI Program NOFAand NACA Program NOFA, FA Application Guidance, and the HP-FA Application Guidance for more information about how to apply for an HP-FA Award. These documents, other guidance materials, and all funding round deadlines are posted on the CDFI Fund’s website at www.cdfifund.gov/cdfi and www.cdfifund.gov/native under Step 2: Apply.
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