Funding available for CDFIs

[Jennifer Vasiloff]

CDFI Coalition E-news: CDFIs Making an Impact!
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September 11, 2006
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In this issue:
The Treasury Department’s CDFI Fund announces the Fiscal Year (FY) 2007 round of its CDFI Program (financial assistance and technical assistance). The CDFI Fund will conduct application workshops and conference calls to assist CDFIs in applying to the program. CDFI Fundappropriations update.
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CDFI Program Application Deadlines
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<![if !supportLists]>·******** <![endif]>5:00 p.m. Eastern Time on November 14, 2006. To review a copy of the Notice of Funds Availability see www.cdfifund.gov/docs/2006/cdfi/2007NOFA.pdf
<![if !supportLists]>·******** <![endif]>If not currently certified as a CDFI, applicants must first submit a CDFI certification application by 5:00 p.m. Eastern Time on October 11, 2006.
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Application Workshops and Conference Calls Scheduled
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A live satellite broadcast of an application workshop presented by CDFI Fund staff can be viewed on Wednesday, October 4, 2006 at 1:00 p.m. Eastern Time. The broadcast can be viewed at any of the over 80 U.S. Department of Housing and Urban Development’s Field offices, or as a webcast on your personal computer. Technical requirements and a link to download needed software can be found at: www.hud.gov/webcasts/index.cfm.
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In-person application workshops can also be attended in the following cities
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Baltimore, Maryland************* September 18, 2006
Jacksonville, Florida*********** September 19, 2006
New Orleans, Louisiana********** September 22, 2006
Phoenix, Arizona**************** September 22, 2006
Billings, Montana*************** September 25, 2006
Seattle, Washington************* September 27, 2006
Des Moines, Iowa**************** September 28, 2006
Boston, Massachusetts*********** September 29, 2006
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To attend the in-person application workshops potential applicants must register through the CDFI Fund’s on-line registration system, available at www.cdfifund.gov.
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To allow potential applicants to ask questions of the Fund staff toward the end of the application period, a series of conference calls grouped by common interests have been scheduled. Details are provided below.
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Microenterprise Loan Funds***************** Monday, October 23, 2006* 1:30 p.m. Eastern Time
Banks & Bank Holding Companies************* Monday, October 23, 2006* 3:00 p.m. Eastern Time
Credit Unions******** ********************* Tuesday, October 24, 2006 1:30 p.m. Eastern Time
Emerging CDFIs (and Gulf Coast Applicants)* Tuesday, October 24, 2006 3:00 p.m. Eastern Time
Venture Capital Groups and Other Loan Funds Wednesday, October 25, 2006*** 1:30 p.m. Eastern Time
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To participate in any of the conference calls, potential applicants need to call (202) 927-2255 and enter in the pin number 935240.
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Appropriations Update
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The CDFI Coalition is pleased that the Senate Appropriations Committee included $55 million for the CDFI Fund for FY 2007 in the bill making appropriations for the Transportation, Treasury, Housing and Urban Development and other agencies.* This funding level is the same as the CDFI Fund had in FY 2006 and represents a significant increase over the $40 million approved by the House of Representatives in mid-June in its version of the FY 2007 appropriations bill. The actions by both the House and Senate clearly indicate Congress’ desire to continue the CDFI Fund grant programs in FY 2007, rejecting the Bush Administration recommendation to eliminate monies for the CDFI Fund grant programs altogether. President Bush proposed only $7.9 million for the CDFI Fund in his FY 2007 Budget, an amount sufficient to administer the New Markets Tax Credit program and monitor past CDFI Fund award agreements.
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Congress is not expected to complete work on FY 2007 appropriations bills until a “lame-duck” session is convened after the November elections.* A “stop-gap” funding bill or Continuing Resolution is expected to be adopted by Congress sometime before the end of September.* This Continuing Resolution would allow government agencies to continue to operate under an interim budget until Congress completes work on FY 2007 appropriations legislation during the post-election session.*
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The Coalition of Community Development Financial Institutions is the lead national organization in the United States promoting the work of community development financial institutions. The CDFI Coalition coordinates industry wide initiatives and conducts a variety of public education programs to introduce key audiences to the valuable work performed daily by CDFIs. Join the CDFI Coalition Action Network at http://capwiz.com/cdfi/mlm/signup/ to receive your own copy of this e-newsletter!
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Please send your comments and suggestions about this newsletter to info@cdfi.org
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CDFI Coalition
3240 Wilson Blvd., Suite 220
Arlington, VA 22201
Phone: 703-294-6970
info@cdfi.org
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Jennifer A. Vasiloff
Executive Director
Coalition of Community Development Financial Institutions
3240 Wilson Blvd, Suite 220
Arlington, VA 22201
703-294-6970 phone
703-294-6460 fax
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The Coalition of Community Development Financial Institutions is the lead national organization in the United States promoting the work of community development financial institutions.* The CDFI Coalition coordinates industry wide initiatives and conducts a variety of public education programs to introduce key audiences to the valuable work performed daily by CDFIs.*
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