Community Development Banking List
10-22-2008, 02:08 PM
Original message from: info@cdfi.org
E-Newsletter
Oct 22, 2008
In This Issue:
* CDFI Fund Appropriations Update
* NMTC Awards to be announced
* CDFI Fund FY 2009 Funding Deadline
* Donna Gambrell to serve in Treasury's Office of Financial Stability
* NACA Program For FY 2009 Opens
*Webinar: Turning Today's Foreclosure Into Tomorrow's Resource
* 2009 CDFI Institute
* 2008 Annual Development Banking Conference
* OFN Conference
CDFI Fund Appropriations Update
President Bush signed a Continuing Resolution to keep most of the
government, including the CDFI Fund, funded at FY 2008 levels until March 6,
2009. The CDFI Fund will be funded at the $94 million mark until March, at
which point the new president will have to address the FY 2009 Budget.
Earlier in the year, the House and Senate Appropriations Committees had
recommended that the CDFI Fund be funded at $105
<http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1 ('http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1')
077965&t=> million and $100
<http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1 ('http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1')
077922&t=> million respectively. There have been some suggestions that
Congress would come back after the election to work on the budget, but at
this point it is difficult to say if this will happen. Stay tuned for more
information.
NMTC Awards Announced
U.S. Treasury Deputy Secretary Robert M. Kimmitt and Treasury's Community
Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell
announced that 70 organizations were selected to receive $3.5 billion in tax
credits for use in low-income communities under the 2008 round of the New
Markets Tax Credit (NMTC) Program. The NMTC Program attracts private-sector
capital investment into the nation's urban and rural low-income areas to
help stimulate economic growth and create jobs. The competitive application
process included 239 applicants requesting over $23 billion in tax credits.
To view the press
<http://cdfifund.gov/docs/2008/nmtc/2008%20NMTC%20Awards%20Press%20Release.p ('http://cdfifund.gov/docs/2008/nmtc/2008%20NMTC%20Awards%20Press%20Release.p')
df> release click here. For more information about the FY 2008 NMTC
<http://cdfifund.gov/news_events/CDFI-2008-47-NewMarketAwardsAnnounced.asp> ('http://cdfifund.gov/news_events/CDFI-2008-47-NewMarketAwardsAnnounced.asp>')
Awards click here.
The CDFI Fund also released a report analyzing the activities undertaken and
impact of the NMTC Program. The report titled, "The New Markets Tax Credit
Program: Promoting Investment in Distressed Communities," is based upon data
collected by the CDFI Fund between 2002 and 2007. For more information about
this report
<http://cdfifund.gov/news_events/CDFI-2008-48-NMTCProgramDataReport.asp> ('http://cdfifund.gov/news_events/CDFI-2008-48-NMTCProgramDataReport.asp>')
click here.
CDFI Fund FY 2009 Funding Deadline: Oct 29th
The deadline for applying for funding through the Financial Assistance (FA)
or Technical Assistance (TA) programs at the CDFI Fund is Wednesday, Oct
29th, 2008. If you have received a previous award from the CDFI Fund,
please remember that you must be in compliance with all reporting
requirements. To make sure you are in compliance with all reporting
requirements, you can refer to "Eligibility Information" section of the FY
2009 <http://cdfifund.gov/docs/2009/cdfi/2009%20FA%20TA%20NOFA%20FINAL.pdf> ('http://cdfifund.gov/docs/2009/cdfi/2009%20FA%20TA%20NOFA%20FINAL.pdf>')
NOFA. You can also contact the CDFI Fund Compliance, Monitoring, and
Evaluation staff at (202) 622-6330 or email them at cme@cdfi.treas.gov
Donna Gambrell to serve in Treasury's Office of Financial Stability
The U.S. Treasury announced that CDFI Fund Director Donna Gambrell has been
selected to serve as interim Chief of Homeownership Preservation. Director
Gambrell will retain her roll and responsibilities as the CDFI Fund Director
while she serves this important interim role for the Treasury Department's
Office of Financial Stability over the next several months. For more
information click
<http://www.cdfifund.gov/news_events/CDFI-2008-46-TreasurysOfficeofFinancial ('http://www.cdfifund.gov/news_events/CDFI-2008-46-TreasurysOfficeofFinancial')
Stability.asp> here.
The CDFI Fund also release a message from Donna Gambrell talking about her
appointment to serve in the Office of Financial Stability, the importance of
CDFIs, and the Fund's strategy for the near future. You can read her
<http://www.cdfifund.gov/who_we_are/director/directors_message.asp> ('http://www.cdfifund.gov/who_we_are/director/directors_message.asp>') message
here.
NACA Program for FY 2009 Opens
The CDFI Fund recently released its fiscal year 2009 Notice of Funds
Availability (NOFA) for the Native American CDFI Assistance (NACA) Program.
This annual funding notice provides up to $8 million in appropriated funds,
subject to final appropriations, in the form of financial assistance awards
and technical assistance awards to CDFIs and entities proposing to become or
create CDFIs that primarily serve Native American, Alaskan Native or Native
Hawaiian communities. To view the CDFI Fund's press
<http://www.cdfifund.gov/news_events/CDFI-2008-44-2009NACAOpen.asp> ('http://www.cdfifund.gov/news_events/CDFI-2008-44-2009NACAOpen.asp>') release
click here.
Webinar: Turning Today's Foreclosure Into Tomorrow's Resource
WEBINAR: Thursday, October 30, 2008, 3:00 - 4:30 pm EDT
The recent HERA legislation included $3.9 billion in funding for local
efforts to purchase vacant and foreclosed properties. The local and state
governments receiving HUD Neighborhood Stabilization Program (NSP) funding
have until December 1, 2008 to amend their Consolidated Plans to outline how
they will use these new resources to respond to the foreclosure crisis.
This 1.5-hour webinar will provide:
- An overview of the range of program design options for preserving
affordability under the NSP program.
- Examples of community land trust and shared equity deed restriction
programs used in response to the foreclosure crisis.
- A discussion of using lease purchase and land bank programming in
conjunction with Shared Equity Homeownership.
- Sample language that jurisdictions can include in their Consolidated Plan
"NSP Substantial Amendment"
- Further resources for program planning after December 1st.
For more information and to register for this free webinar click
<http://www.ncbcapitalimpact.org/default.aspx?id=1038> ('http://www.ncbcapitalimpact.org/default.aspx?id=1038>') here.
2009 CDFI Institute - Save the Date
SAVE THE DATE for the 2009 CDFI Institute, March 1-3, 2009 in Washington,
DC. The 2009 CDFI Institute will be held at the Liaison Capitol Hill, An
Affinia Hotel. The 2009 policy conference will feature candid dialogue with
community development finance experts about issues facing the field. Also
included are opportunities to meet with Congressional Leaders, the CDFI
Fund, and to interact with your CDFI colleagues from around the country.
Mark your calendars and join us, your colleagues, a new Administration and
new Congress in March 2009. For more information about the
<http://cdfi.org/index.php?page=institute-a> ('http://cdfi.org/index.php?page=institute-a>') Institute click here.
2008 Annual Development Banking Conference
The National Community Investment Fund (NCIF) invites you to join us again
this year to listen in, share experiences and contribute to the future of
the community development finance industry. As always, the NCIF Conference
is focused on providing Actionable Strategies for Community Development
Banks and Credit Unions that can be replicated to improve financial
performance and enhance development impact. We are honored to have the
Honorable Donna Gambrell, Director of the CDFI Fund, as a keynote speaker
for this year's event.
The Conference will be held in Chicago on November 6th & 7th, 2008. For
more information, and to register for the event, please click here
(http://www.ncif.org/). ('http://www.ncif.org/).')
Opportunity Finance Network to hold 24th Annual Conference
WHAT: On Tuesday, December 9, 2008, Opportunity Finance Network- the leading
network of private financial intermediaries delivering opportunities for
low-wealth people and communities in the U.S. - will kick off their 24th
conference for opportunity finance and CDFI professionals. The theme of the
2008 Opportunity Finance Network Conference is "Opportunity NOW. It's a new
era."
"The 2008 Opportunity Finance Network Conference is designed to help our
industry take stock of where we are and to prepare for the challenges and
opportunities that are directly in front of us," said CEO & President of
Opportunity Finance Network Mark Pinsky. "We are in the midst of a
remarkable transformation in our nation, our world, and our industry. Our
work and the role that the Opportunity Finance industry plays has never been
more important for policy, for the economy, for financial markets, and -
most important - for the people and places we serve."
WHEN: Tuesday, December 9, 2008 through Friday, December 12, 2008
WHERE: Hyatt Regency in Albuquerque, New Mexico Register at:
www.opportunityfinance.net/conference
CDFI Coalition
3240 Wilson Boulevard, Suite 220
Arlington, VA 22201
703.294.6970 phone
703.294.6460 fax
<http://www.cdfi.org> ('http://www.cdfi.org>') www.cdfi.org
The CDFI Coalition is the unified national voice of community development
financial institutions. Our mission is to encourage fair access to financial
resources for America's underserved people and communities.
Sign up to join the CDFI Coalition's ACTION NETWORK at www.cdfi.org
<http://www.cdfi.org/> ('http://www.cdfi.org/>') . Receive important legislative updates, information
about funding opportunities, and news about the industry directly in your
inbox.
E-Newsletter
Oct 22, 2008
In This Issue:
* CDFI Fund Appropriations Update
* NMTC Awards to be announced
* CDFI Fund FY 2009 Funding Deadline
* Donna Gambrell to serve in Treasury's Office of Financial Stability
* NACA Program For FY 2009 Opens
*Webinar: Turning Today's Foreclosure Into Tomorrow's Resource
* 2009 CDFI Institute
* 2008 Annual Development Banking Conference
* OFN Conference
CDFI Fund Appropriations Update
President Bush signed a Continuing Resolution to keep most of the
government, including the CDFI Fund, funded at FY 2008 levels until March 6,
2009. The CDFI Fund will be funded at the $94 million mark until March, at
which point the new president will have to address the FY 2009 Budget.
Earlier in the year, the House and Senate Appropriations Committees had
recommended that the CDFI Fund be funded at $105
<http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1 ('http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1')
077965&t=> million and $100
<http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1 ('http://org2.democracyinaction.org/o/5172/blastContent.jsp?email_blast_KEY=1')
077922&t=> million respectively. There have been some suggestions that
Congress would come back after the election to work on the budget, but at
this point it is difficult to say if this will happen. Stay tuned for more
information.
NMTC Awards Announced
U.S. Treasury Deputy Secretary Robert M. Kimmitt and Treasury's Community
Development Financial Institutions (CDFI) Fund Director Donna J. Gambrell
announced that 70 organizations were selected to receive $3.5 billion in tax
credits for use in low-income communities under the 2008 round of the New
Markets Tax Credit (NMTC) Program. The NMTC Program attracts private-sector
capital investment into the nation's urban and rural low-income areas to
help stimulate economic growth and create jobs. The competitive application
process included 239 applicants requesting over $23 billion in tax credits.
To view the press
<http://cdfifund.gov/docs/2008/nmtc/2008%20NMTC%20Awards%20Press%20Release.p ('http://cdfifund.gov/docs/2008/nmtc/2008%20NMTC%20Awards%20Press%20Release.p')
df> release click here. For more information about the FY 2008 NMTC
<http://cdfifund.gov/news_events/CDFI-2008-47-NewMarketAwardsAnnounced.asp> ('http://cdfifund.gov/news_events/CDFI-2008-47-NewMarketAwardsAnnounced.asp>')
Awards click here.
The CDFI Fund also released a report analyzing the activities undertaken and
impact of the NMTC Program. The report titled, "The New Markets Tax Credit
Program: Promoting Investment in Distressed Communities," is based upon data
collected by the CDFI Fund between 2002 and 2007. For more information about
this report
<http://cdfifund.gov/news_events/CDFI-2008-48-NMTCProgramDataReport.asp> ('http://cdfifund.gov/news_events/CDFI-2008-48-NMTCProgramDataReport.asp>')
click here.
CDFI Fund FY 2009 Funding Deadline: Oct 29th
The deadline for applying for funding through the Financial Assistance (FA)
or Technical Assistance (TA) programs at the CDFI Fund is Wednesday, Oct
29th, 2008. If you have received a previous award from the CDFI Fund,
please remember that you must be in compliance with all reporting
requirements. To make sure you are in compliance with all reporting
requirements, you can refer to "Eligibility Information" section of the FY
2009 <http://cdfifund.gov/docs/2009/cdfi/2009%20FA%20TA%20NOFA%20FINAL.pdf> ('http://cdfifund.gov/docs/2009/cdfi/2009%20FA%20TA%20NOFA%20FINAL.pdf>')
NOFA. You can also contact the CDFI Fund Compliance, Monitoring, and
Evaluation staff at (202) 622-6330 or email them at cme@cdfi.treas.gov
Donna Gambrell to serve in Treasury's Office of Financial Stability
The U.S. Treasury announced that CDFI Fund Director Donna Gambrell has been
selected to serve as interim Chief of Homeownership Preservation. Director
Gambrell will retain her roll and responsibilities as the CDFI Fund Director
while she serves this important interim role for the Treasury Department's
Office of Financial Stability over the next several months. For more
information click
<http://www.cdfifund.gov/news_events/CDFI-2008-46-TreasurysOfficeofFinancial ('http://www.cdfifund.gov/news_events/CDFI-2008-46-TreasurysOfficeofFinancial')
Stability.asp> here.
The CDFI Fund also release a message from Donna Gambrell talking about her
appointment to serve in the Office of Financial Stability, the importance of
CDFIs, and the Fund's strategy for the near future. You can read her
<http://www.cdfifund.gov/who_we_are/director/directors_message.asp> ('http://www.cdfifund.gov/who_we_are/director/directors_message.asp>') message
here.
NACA Program for FY 2009 Opens
The CDFI Fund recently released its fiscal year 2009 Notice of Funds
Availability (NOFA) for the Native American CDFI Assistance (NACA) Program.
This annual funding notice provides up to $8 million in appropriated funds,
subject to final appropriations, in the form of financial assistance awards
and technical assistance awards to CDFIs and entities proposing to become or
create CDFIs that primarily serve Native American, Alaskan Native or Native
Hawaiian communities. To view the CDFI Fund's press
<http://www.cdfifund.gov/news_events/CDFI-2008-44-2009NACAOpen.asp> ('http://www.cdfifund.gov/news_events/CDFI-2008-44-2009NACAOpen.asp>') release
click here.
Webinar: Turning Today's Foreclosure Into Tomorrow's Resource
WEBINAR: Thursday, October 30, 2008, 3:00 - 4:30 pm EDT
The recent HERA legislation included $3.9 billion in funding for local
efforts to purchase vacant and foreclosed properties. The local and state
governments receiving HUD Neighborhood Stabilization Program (NSP) funding
have until December 1, 2008 to amend their Consolidated Plans to outline how
they will use these new resources to respond to the foreclosure crisis.
This 1.5-hour webinar will provide:
- An overview of the range of program design options for preserving
affordability under the NSP program.
- Examples of community land trust and shared equity deed restriction
programs used in response to the foreclosure crisis.
- A discussion of using lease purchase and land bank programming in
conjunction with Shared Equity Homeownership.
- Sample language that jurisdictions can include in their Consolidated Plan
"NSP Substantial Amendment"
- Further resources for program planning after December 1st.
For more information and to register for this free webinar click
<http://www.ncbcapitalimpact.org/default.aspx?id=1038> ('http://www.ncbcapitalimpact.org/default.aspx?id=1038>') here.
2009 CDFI Institute - Save the Date
SAVE THE DATE for the 2009 CDFI Institute, March 1-3, 2009 in Washington,
DC. The 2009 CDFI Institute will be held at the Liaison Capitol Hill, An
Affinia Hotel. The 2009 policy conference will feature candid dialogue with
community development finance experts about issues facing the field. Also
included are opportunities to meet with Congressional Leaders, the CDFI
Fund, and to interact with your CDFI colleagues from around the country.
Mark your calendars and join us, your colleagues, a new Administration and
new Congress in March 2009. For more information about the
<http://cdfi.org/index.php?page=institute-a> ('http://cdfi.org/index.php?page=institute-a>') Institute click here.
2008 Annual Development Banking Conference
The National Community Investment Fund (NCIF) invites you to join us again
this year to listen in, share experiences and contribute to the future of
the community development finance industry. As always, the NCIF Conference
is focused on providing Actionable Strategies for Community Development
Banks and Credit Unions that can be replicated to improve financial
performance and enhance development impact. We are honored to have the
Honorable Donna Gambrell, Director of the CDFI Fund, as a keynote speaker
for this year's event.
The Conference will be held in Chicago on November 6th & 7th, 2008. For
more information, and to register for the event, please click here
(http://www.ncif.org/). ('http://www.ncif.org/).')
Opportunity Finance Network to hold 24th Annual Conference
WHAT: On Tuesday, December 9, 2008, Opportunity Finance Network- the leading
network of private financial intermediaries delivering opportunities for
low-wealth people and communities in the U.S. - will kick off their 24th
conference for opportunity finance and CDFI professionals. The theme of the
2008 Opportunity Finance Network Conference is "Opportunity NOW. It's a new
era."
"The 2008 Opportunity Finance Network Conference is designed to help our
industry take stock of where we are and to prepare for the challenges and
opportunities that are directly in front of us," said CEO & President of
Opportunity Finance Network Mark Pinsky. "We are in the midst of a
remarkable transformation in our nation, our world, and our industry. Our
work and the role that the Opportunity Finance industry plays has never been
more important for policy, for the economy, for financial markets, and -
most important - for the people and places we serve."
WHEN: Tuesday, December 9, 2008 through Friday, December 12, 2008
WHERE: Hyatt Regency in Albuquerque, New Mexico Register at:
www.opportunityfinance.net/conference
CDFI Coalition
3240 Wilson Boulevard, Suite 220
Arlington, VA 22201
703.294.6970 phone
703.294.6460 fax
<http://www.cdfi.org> ('http://www.cdfi.org>') www.cdfi.org
The CDFI Coalition is the unified national voice of community development
financial institutions. Our mission is to encourage fair access to financial
resources for America's underserved people and communities.
Sign up to join the CDFI Coalition's ACTION NETWORK at www.cdfi.org
<http://www.cdfi.org/> ('http://www.cdfi.org/>') . Receive important legislative updates, information
about funding opportunities, and news about the industry directly in your
inbox.