CDFI Fund: Update on the CDFI Fund’s Certification Application Review Process
Additional Time Needed for CDFI Fund to Consider Robust Response to Recent Application Revisions The Community Development Financial Institutions Fund (CDFI Fund) will update its timeline for rolling out the new CDFI Certification Application and anticipates revising the version that was released for public comment in the Federal Register on November 4, 2022. To ensure sufficient time…
CDFI Fund: FY 2023 Capital Magnet Fund Funding Round Opens
Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2023 funding round for the Capital Magnet Fund. Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to Community Development Financial Institutions (CDFIs) and qualified non-profit housing organizations. These awards can be used to…
CDFI Fund: Updated Program Information Now Available Based on 2016-2020 American Community Survey
BEA Program Eligibility and CDFI Program Investment Areas Revised with Data Release The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today updated Eligibility Data for the Bank Enterprise Award Program (BEA Program), as well as updated Investment Areas and Target Markets for the Community Development Financial Institutions Program (CDFI…
CDFI Fund: Updated Calendar Year 2022 NMTC Allocation Application FAQs Posted
The Community Development Financial Institutions Fund (CDFI Fund) has posted on its website an updated calendar year (CY) 2022 New Markets Tax Credit Program (NMTC Program) Allocation Application Frequently Asked Questions (FAQs) document. The updates to this document are provided in response to questions submitted through the Service Request feature in the CDFI Fund’s Award Management…
CDFI Fund: Updated NMTC Program Compliance FAQs Now Available
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) document for New Markets Tax Credit Program (NMTC Program) compliance on its website. This document supersedes the November 2021 publication of the FAQ document by adding, revising, or updating select questions from the earlier edition. Updates includes: Provides additional guidance on…
CDFI Fund: Public Comments Sought on the NMTC Allocation and Qualified Equity Investment Tracking System
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Allocation and Qualified Equity Investment Tracking System (AQEI). The NMTC Program provides an incentive to investors in the form of tax credits over a seven year period and stimulates the…
CDFI Fund: CY 2022 Round of New Markets Tax Credit Program Opened
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2022 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
CDFI Fund: Opportunity Open to Comment on the New CDFI Certification Application
In October, the Community Development Financial Institutions Fund (CDFI Fund) provided a preview of the revisions to the new CDFI Certification Application. The CDFI Fund published the preview in advance of the Office of Management and Budget (OMB) releasing the updated application for a final round of public comment. The revised CDFI Certification Application is now available…
CDFI Fund: $5 Billion in New Markets Tax Credits Awarded to Revitalize Low-Income and Distressed Communities
Treasurer of the United States Chief Lynn Malerba, joined by U.S. Senators Benjamin L. Cardin and Chris Van Hollen, U.S. Representative Kweisi Mfume, and Community Development Financial Institutions Fund (CDFI Fund) Director Jodie Harris, today announced more than $5 billion in New Markets Tax Credit (NMTC) awards nationwide. Speaking at the recently redeveloped Lexington Market,…
CDFI Fund: Request for Public Comment Issued on CDFI Certification Target Market Verification
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning pre-approved Target Market assessment methodologies related to the Community Development Financial Institution (CDFI) Certification process. To be a Certified CDFI, an entity must demonstrate that it serves at least one eligible Target Market (either an Investment Area or…