The Community Development Financial Institutions (CDFI) Fund today reminded prospective fiscal year 2018 Capital Magnet Fund (CMF) applicants that the deadline for online submission of the SF-424 grant application through grants.gov is Aug. 20 at 11:59 p.m. ET and the deadline for creating an organizational account through the CDFI Fund’s Awards Management Information System (AMIS) is Aug. 27 at 11:59 p.m. ET.
The Community Development Financial Institutions (CDFI) Fund today announced that 214 applicants requested $14.8 billion in new markets tax credit (NMTC) allocation authority under the 2018 round of the program. The allocation amount requested is more than four times the $3.5 billion in authority available for the 2018 round. Applicants are headquartered in 43 states, the District of Columbia and Puerto Rico.
The Community Development Advisory Board, which advises the director of the Community Development Financial Institutions (CDFI) Fund, announced it will hold an open meeting Aug. 23 from 9 a.m. to 2 p.m. Eastern Time. Topics will include a report on CDFI Fund activities, fiscal year 2019 priorities, reexamination of CDFI certification policies and maximizing impact in persistent poverty counties.
Rep. Jason Smith, R-Mo., and Rep. Terri Sewell, D-Ala., today introduced the Rural Jobs Act, which would authorize an additional $500 million in new markets tax credit (NMTC) allocation per year for 2018 and 2019 for certain rural areas. Under H.R. 6627, the new allocation would target Rural Jobs Zones, which are NMTC-eligible census tracts in rural communities that are eligible for the United States Department of Agriculture (USDA) Business & Industry program.
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.
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