Recent News

Tuesday, February 13, 2018

The Community Development Financial Institutions (CDFI) Fund today awarded $3.5 billion in allocation authority to 73 community development entities (CDEs) under the calendar year 2017 new markets tax credit (NMTC) allocation round. The CDFI Fund selected awardees from a pool of 230 applicants requesting a total $16.2 billion in allocation authority.

Monday, February 12, 2018

President Donald Trump’s proposed $4.4 trillion fiscal year 2019 (FY 2019) budget would cut by 18 percent U.S. Department of Housing and Urban Development (HUD) programs and would eliminate the HOME Investment Partnerships program, Community Development Block Grant program and Public Housing Capital Fund. Funding for HUD would be $6.8 billion less than annualized funding levels as per the continuing resolution for FY 2018 under the proposed FY 2019 budget.

Friday, February 9, 2018

President Trump today ended a brief government shutdown by signing the Bipartisan Budget Act of 2018, a two-year, $300 billion increase to the defense and nondefense spending caps for fiscal years 2018 and 2019.

Wednesday, February 7, 2018

The Department of Treasury today released a second-quarter update to its 2017-2018 Priority Guidance Plan. Guidance for Opportunity Zones created under the new tax law was added in this update.

Friday, January 26, 2018

The Community Development Financial Institutions (CDFI) Fund will likely announce the $3.5 billion 2017 round of new markets tax credit allocations in February, according to Christopher Allison, CDFI Fund associate program manager. In a question-and-answer session at the 2018 Novogradac New Markets Tax Credit Conference Friday, Allison said, “We’re optimistic it will happen in February, although that’s always subject to change.” The CDFI Fund’s last NMTC allocation was the 2015-2016 combined $7 billion allocation round, announced Nov. 17, 2016.

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