New Markets Tax Credit News Briefs – July 2019

Tuesday, July 9, 2019

The Community Development Financial Institutions (CDFI) Fund announced plans in mid-May to publish a notice of funding and an application for the fiscal year 2019 Capital Magnet Fund (CMF) round this summer. Up to $130.8 million is expected to be available in grants for CDFIs and qualified nonprofit housing organizations to support affordable housing activities and related economic development and community service facilities. Applicants must be either a certified CDFI or nonprofit operating with a principal purpose of developing or managing affordable housing. Visit the CDFI Fund’s CMF page or view the CMF outreach presentation for more information.

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The Local Initiatives Support Corporation announced May 29 the appointment of Annie Donovan as chief operating officer. Donovan, former director of the CDFI Fund, has also been a senior fellow at the Beeck Center for Social Impact and Innovation at Georgetown University, as well as at the Center for Community Investment at the Lincoln Institute of Land Policy. She also spent 20 years at Capital Impact Partners. Donovan has also served as president of the New Markets Tax Credit Coalition.

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