Recent News
The Community Development Financial Institutions (CDFI) Fund announced this week that users will not be able to submit reports though the Community Investment Impact System (CIIS) during August. CIIS is the award recipient reporting system for the CDFI Fund program, the New Markets Tax Credit program and Capital Magnet Fund.
The Community Development Financial Institutions (CDFI) Fund today opened fiscal year 2018 funding round for the Capital Magnet Fund. The CDFI Fund will award approximately $142.9 million to CDFIs and qualified nonprofit housing organizations this year to finance affordable housing activities, related economic development activities and community service facilities, with the goal of attracting private capital to economically distressed communities.
The Community Development Financial Institutions (CDFI) Fund today issued a call for reviewers for the 2018 application round of the New Markets Tax Credit (NMTC) program.
The Community Development Financial Institutions Fund (CDFI Fund) notified community development entities (CDES) this week that if CDEs with Community Investment Impact System (CIIS) deadlines today or tomorrow miss those deadline for filing award and allocation reports about the New Markets Tax Credit (NMTC) program due to documented difficulties with the reporting system, they will not be penalized. CIIS faced difficulties due to high volume of transactions. A CDFI Fund email explained several issues and gave information on whom to contact.
The New Markets Tax Credit (NMTC) program created $5.8 billion in total project investment and 60,000 jobs in 2017, according to the 2018 New Markets Tax Credit Progress Report, released last week by the New Markets Tax Credit Coalition. The annual report included information from 89 community development entities, covering 81 percent of NMTC activity in 2017.
Recent Updates
