Recent News
The Community Development Financial Institutions (CDFI) Fund announced today that 197 community development entities (CDEs) applied for allocation in the calendar year (CY) 2022 round of the new markets tax credit (NMTC).
The Community Development Financial Institutions (CDFI) Fund will publish a notice in Tuesday’s Federal Register inviting comment on its community development entity (CDE) certification application. The CDFI Fund is not suggesting any changes to the application; this comment invitation is a required part of the regular review.
President Joe Biden unveiled a $6.9 trillion fiscal year (FY) 2024 budget blueprint Thursday that includes a $28.3 billion expansion of the low-income housing tax credit (LIHTC), the $15.6 billion creation of a neighborhood homes tax credit (NHTC), permanency for the new markets tax credit (NMTC), $73.3 billion (a $1.1 billion increase) in proposed spending for the U.S. Department of Housing and Urban Development (HUD) and $341 million for U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund, an increase of $17 million or 5% from 2023.
Community Development Financial Institutions (CDFI) Fund Director Jodie Harris today announced she will leave her post at the end of April and become the president of the Philadelphia Industrial Development Corporation. Harris said Marcia Sigal, CDFI Fund deputy director of policy and programs, will become acting director in May. The CDFI Fund oversees the new markets tax credit (NMTC) incentive, the Capital Magnet Fund (CMF) and other community development programs. Harris was named the CDFI Fund director in January 2019, succeeding Annie Donovan.
The Community Development Financial Institutions (CDFI) Fund today announced an update to its frequently asked questions (FAQ) page for the CDFI certification blackout period. The updated page supersedes a July 2022 page with new information on such subjects as when the blackout period will end, why the CDFI Fund paused acceptance of new CDFI certification applications and target market modifications and more. The updated page is available on the CDFI Fund website.
