CDFI Fund releases new schedule for awards and applications with blackout period to start in October.
As the Treasury Department's CDFI Fund prepares for its blackout period to solicit comments on the application and awards process, fund officials announced a series of new timelines stretching into next year.
Awards and deadlines will both be delayed, Director Jodie Harris explained, in announcing the new schedule.
“These shifts will allow the CDFI Fund to complete important work for the administration of our programs, not the least of which is providing CDFIs and the public ample opportunity to submit feedback on ways our programs can be improved for the coming year,” Harris said.
New Deadlines and Awards
The next open application round for the CDFI Program and Native American CDFI Assistance (NACA) Program will be held in Fall of 2023 to allow the fund to review public feedback on those programs before it accepts new applications.
That application round will combine FY23 and FY24 funding for the CDFI Program and NACA Program, including the supplemental Persistent Poverty County-Financial Assistance, Healthy Food Financing Initiative-Financial Assistance, and Disability Funds-Financial Assistance awards.
The FY22 CDFI and NACA technical assistance awards will be announced in September, but financial assistance awards will not be announced until early next year.
Lastly, the Bank Enterprise Award (BEA) program application round will not start this Fall. Instead, the CDFI Fund will be accepting applications for a joint FY22 and FY23 BEA program round in Spring of 2023.
Rationale Behind the Decision
“The steps we are taking over the next year will hopefully continue to improve our programs and processes so that we can best serve CDFIs and the underserved communities where they work well into the future,” Harris said.