CDFI Fund: CY 2024-2025 Round of New Markets Tax Credit Program Opens
$10 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 next round of the New Markets Tax Credit Program (NMTC Program). A total of $10 billion in Allocation Authority is available through this combined round that…
CDFI Fund: $40.1 Million Awarded to Banks Investing in Severely Distressed Communities
Recipients Demonstrate Increased Lending and Services Exceeding $380 Million to Nation’s Most Economically Challenged Areas The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today announced $40.1 million in awards to 171 FDIC-insured banks through the fiscal year (FY) 2024 round of the Bank Enterprise Award Program (BEA Program), for increasing…
HUD: More Than $6 Million Announced to Revitalize Communities with Distressed HUD-Assisted Housing
Choice Neighborhood Planning Grants will kickstart community-driven transformation plans that will benefit residents and local economies Today, the U.S. Department of Housing and Urban Development (HUD) announced $6.5 million in Choice Neighborhoods Planning Grants for 13 communities in 11 states across America to redevelop severely distressed public housing or HUD-assisted housing, improve outcomes for residents,…
EDA: $184 Million Announced for Six Recompete Program Awardees
U.S. Department of Commerce program will help reduce unemployment and establish long-term economic growth Today, the Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), announced $184 million in implementation grants for six Recompete Finalists. These awards will create renewed opportunity in economically distressed communities through good-paying, high-quality jobs and improve access to…
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
Federal bank regulatory agencies today released the 2024 list of distressed or underserved nonmetropolitan middle-income geographies where certain bank activities are eligible for Community Reinvestment Act (CRA) credit. Under the CRA, the agencies assess a bank’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and…
EDA: 22 Recompete Pilot Program Finalists Announced
As part of President Biden’s Investing in America agenda, Department of Commerce selects communities primed to reduce unemployment and establish long-term economic growth to compete for implementation awards The Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today will announce the 22 finalists of the Distressed Area Recompete Pilot Program (Recompete)….
CDFI Fund: $70 Million Awarded to Banks through BEA Awards to Increase Investment in Severely Distressed Communities
Recipients Collectively Increased Lending and Services to Nation’s Most Distressed Areas by over $970 million The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today $70 million in awards to 184 FDIC-insured banks, through the fiscal year (FY) 2023 round of the Bank Enterprise Award Program (BEA Program), for increasing…
HUD: $7 Million Announced in Choice Neighborhood Planning Grants
Grants will fund community-driven revitalization planning in neighborhoods with distressed public housing. Today, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge announced $7 million in Choice Neighborhoods Planning Grants to 14 communities across America. Each awardee will receive a $500,000 grant to create a comprehensive neighborhood revitalization plan to redevelop severely…
HUD: $256 Million Available in New Choice Neighborhoods Funding
Future awardees will revitalize public and/or HUD-assisted housing, surrounding neighborhoods. Today, the U.S. Department of Housing and Urban Development (HUD) announced the availability of $256 million in Choice Neighborhoods Implementation (CNI) Grants funding to communities across the country. The CNI Grants will ultimately transform public and other HUD-assisted housing, while investing in the surrounding neighborhood and resident…
HUD: $50 Million Choice Neighborhoods Implementation Grant Awarded to Philadelphia, PA
The Philadelphia Housing Authority will redevelop Bartram Village and the entire Kingsessing area. Today, U.S. Department of Housing and Urban Development (HUD) Principal Deputy Assistant Secretary for Public and Indian Housing Richard Monocchio, announced the awarding of a Choice Neighborhoods Implementation (CNI) grant for $50 million to the Philadelphia Housing Authority and the City of…