Recent News
The Community Development Financial Institutions (CDFI) Fund today announced three $100 million guarantees under the CDFI Bond Guarantee program to provide long-term, low-cost, fixed-rate capital for projects in low-income and distressed rural, urban and Native communities.
The Community Development Financial Institutions (CDFI) Fund today announced the allocation of $5 billion in new markets tax credit (NMTC) authority for the calendar year 2022 (CY 2022) allocation round. One-hundred-and-two community development entities (CDEs) received allocations. The CDEs are located in 36 states and the District of Columbia. More than 20% of the investments are slated for rural communities. According to the CY 2022 NMTC Program Award Book, 49 of this year’s awardees will focus investment activities on a national service area, 20 will focus on a multi-state area, 18 will focus on a specific state and 15 will focus on specific local markets. The award amounts range from $20 million to $65 million.
The Community Development Financial Institutions (CDFI) Fund will publish a notice in Friday’s Federal Register requesting comment on the updated application questions for the CDFI program, Native American CDFI Assistance (NACA) program and the CDFI Fund’s financial assistance and technical assistance programs. The revised programs application questions have been modified to reflect public comments received through a previous request for public comment. Comments are due by Oct. 23.
The Community Development Financial Institutions (CDFI) Fund today announced a transaction-level report (TLR) deadline extension to Dec. 31, 2023, for new markets tax credit (NMTC) award allocatees with a TLR due date between Aug. 31, 2023, and Nov. 30, 2023.
The Community Development Financial Institutions (CDFI) Fund today announced its release of updated eligibility data for the new markets tax credit (NMTC) incentive. The updated information on low-income communities (LICs) is based on 2016-2020 American Community Survey (ACS) five-year estimate data from the U.S. Census Bureau. The new data may be used as of today (Sept. 1). The CDFI Fund also published information on the transition from 2011-2015 to 2016-2020 data, based on the date the qualified low-income community investment (QLICI) closes. Similar information on island areas֪–not included in this release–is tentatively scheduled for release in December. The New Markets Tax Credit Working Group will analyze the data and transition guidance.
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