CDFI Fund Expects to Announce New Markets Allocation Awards This Winter, Proceed With 2012 Funding Round

By Caitlin Jones
December 28, 2011 1 min read

Tax Credit Advisor, December 2011: The Community Development Financial Institutions (CDFI) Fund expects to announce its ninth round awards of new markets tax credit allocation authority in “late winter” of 2012, and proceed with a tenth round next year even if the program hasn’t yet been reauthorized, according to CDFI Fund Director Donna Gambrell.

Gambrell and NMTC Program Manager Robert Ibanez, in a November 9 interview, reported that the first phase of reviewing the applications seeking NMTC allocation awards in the ninth funding round has been completed, and the second and final phase is about to begin. In Phase 1, external reviewers evaluate and rank the applications that were received, while in the second CDFI staff conduct analysis to make award determinations. “At this point our staff is doing the additional due diligence that is needed on the applications that have been deemed highly qualified that have come out of that Phase 1 review process, and preparing” for the Phase 2 review and award determinations, Gambrell noted.

The CDFI Fund received a record 314 applications — 26% more than in 2010 — requesting a total $26.7 billion in allocation authority. Just $3.5 billion is available. Read More…

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

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