On February 7 the Treasury Department released the Community Development Financial Institutions (CDFI) Fund’s Year in Review Report for FY 2016, indicating that the CDFI Fund awarded organizations more than $543 million in financial assistance, loans and bond guarantees, leveraging billions of dollars in investor capital during this time. According to the data, $3.16 billion in loans and investments were made possible through the NMTC program; after FY 2016 closed, the Treasury Department announced $7 billion in NMTC in allocation, the single largest award round the tax credit program has seen. Between the CDFI Program and the NMTC awardees, 34,000 affordable housing units were financed in FY 2016. Additional highlights of FY 2016 include the Capital Magnet Fund’s first award since FY 2010 and the 2016 CDFI Prize Competition recognizing innovative practices to introduce capital to underserved rural areas. Read the full report here.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing