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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 U.S. Department of Housing and Urban Development (HUD) today published an advanced notice of proposed rulemaking, inviting public comment on amendments to HUD’s affirmatively furthering fair housing regulations. HUD previously withdrew its assessment tools used to assess fair housing. HUD is seeking comments on several areas, but specifically asked eight questions about community involvement, data collection, reporting methods, evaluation and more.
The Community Development Financial Institutions (CDFI) Fund is seeking application reviewers for the fiscal year 2018 application round of the Capital Magnet Fund. Reviewers should have expertise in affordable housing finance and/or development. The CDFI Fund particularly seeks reviewers with experience in underwriting, assessing and/or evaluating affordable housing and economic development projects financed or developed by CDFIs and nonprofit developers or experience structuring and underwriting complex multifamily affordable housing transactions.
The Vermont Department of Taxes revised Technical Bulletin 45 to clarify administrative details of the state solar energy investment tax credit (ITC). No functional aspects of the credit were changed, but the bulletin clarifies that the Vermont solar tax credit is 24 percent of the federal ITC and is only available for the Vermont-property portion of the investment.
The Illinois General Assembly Aug. 3 enrolled H.B. 5686 (Public Act 100-0695) to transfer the administration of the River Edge Redevelopment Zone and the state historic preservation tax credit pilot program from the State Historic Preservation Agency to the Department of Natural Resources.
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.