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FY 2009 round of CDFI program opens early
WASHINGTON (8/13/08)—The U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund Tuesday released its notice of funds availability for FY2009. “I am happy to announce the opening of the 2009 award round of this critically important program. In these turbulent times, building the capacity of CDFIs serving the nation’s distressed communities is more important than ever," said CDFI Fund Director Donna Gambrell in a release. "We are opening this award round almost three weeks earlier than last year in order to provide applicants more time to prepare. In the coming months I look forward to sharing with our stakeholders additional steps the CDFI Fund will be taking to ensure that our programs operate as efficiently and effectively as possible in order to get these resources into the nation's distressed communities as quickly as possible." The annual funding notice provides up to $54 million, subject to final appropriations, in the form of awards to the community-based organizations known as CDFIs. The CDFIs provide affordable financing and related services to low-income communities and populations that lack access to credit, capital and financial services. Since it was created in 1994, the CDFI Fund has awarded $864 million to CDFIs, community development organizations and financial institutions through CDFI Program, the Bank Enterprise Award Program, and the Native Initiatives. In addition, the CDFI Fund has allocated $16 billion in tax credit authority to community development entities (CDEs) through the NMTC Program. The CDFI Program application deadline is 12 a.m. EDT on Oct. 29. An applicant not currently certified as a CDFI must first submit a CDFI certification application by 12 a.m. EDT on Oct. 1. Those interested in learning more about the FY 2009 funding round of the CDFI Program can do so though a CDFI Fund webcast on Aug. 18 or through the flowing workshops:
* Monday, Aug. 18, Chicago, Ill., at The Palmer House Hilton; * Wednesday, Sept. 10, 2008, Washington, D.C., at the Hyatt Regency Crystal City (Arlington, Va.); or * Friday, Sept. 19, 2008, Denver, Colo., at the Sheraton Denver Hotel.
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