Recent News
The Community Development Financial Institutions (CDFI) Fund today announced that 116 organizations submitted eligible applications requesting more than $570 million in funding under the fiscal year (FY) 2018 Capital Magnet Fund round, compared to the $143 million in awards available. Fifty-seven percent of applicants are certified CDFIs and the remaining 43 percent are nonprofit affordable housing organizations. The awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.
The Internal Revenue Service issued a notice of proposed rulemaking today for a provision of last year’s tax reform legislation that limits the business interest expense deduction for certain taxpayers.
The Treasury Department on Thursday released the 2018-2019 Priority Guidance Plan, which includes plans to provide guidance for the low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic tax credit (HTC). The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019.
Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a
The Community Development Financial Institutions (CDFI) Fund opened the fiscal year 2019 application period for the CDFI Bond Guarantee Program. The CDFI Bond Guarantee Program provides long-term, low-cost capital for economic growth in low-income communities. As much as $500 million in bond guarantee is available to eligible CDFIs in 2019, pending Congressional authorization.
