Supplemental FY 2009 Rounds of CDFI & NACA Programs Open
April 21, 2009
Treasury’s CDFI Fund Opens Supplemental FY 2009
Funding Rounds of CDFI & NACA Programs
Today, the Treasury Department’s Community Development Financial Institutions (CDFI) Fund issued Notices of Funds Availability (NOFAs) for supplemental FY 2009 funding rounds of its CDFI Program and Native American CDFI Assistance (NACA) Program, thereby inviting applications for Financial Assistance (FA) awards. A total of $63 million in FA awards will be made - $55 million under the FY 2009 supplemental funding round of the CDFI Program and $8 million under the FY 2009 supplemental funding Round of the NACA Program.
The supplemental funding rounds are made possible due to additional appropriations received by the CDFI Fund through the American Recovery and Reinvestment Act of 2009 (the Recovery Act). FA awards made through the initial FY 2009 funding rounds of these two programs will be made using Recovery Act resources; FA applications for those awards are currently being reviewed. FA awards made through the supplemental FY 2009 funding rounds will be made using funds appropriated to the CDFI Fund through the FY 2009 omnibus appropriations act.
The CDFI Fund anticipates that the NOFAs that govern the supplemental rounds will be published in the Federal Register on or around Thursday, April 23, 2009.
CDFIs that applied for and/or received Technical Assistance only awards for FY 2009 will be permitted to apply for FA funding under the supplemental funding rounds. Applicants that have already submitted applications for FA awards in FY 2009 do not need to re-submit in the supplemental round (unless the initial round application was rejected). An applicant that receives a FA award in the initial round may not also receive one in the supplemental funding round.
The application deadline for the supplemental funding round of the FY 2009 CDFI Program and the FY 2009 NACA Program is 5:00 p.m. Eastern Time on Wednesday, May 27, 2009.
For more information on the CDFI Program or NACA Program, please contact the CDFI Fund’s Office of Policy and Programs by e-mailing email@example.com or by calling (202) 622-6355.