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Home > Feature Articles > Municipality Strategies for Sustainable Community Best Practices

Economic Development by the US Treasury Department

CDFI Fund enables locally based organizations to further goals such as: economic development (job creation, business development, and commercial real estate development); affordable housing (housing development and homeownership); and community development financial services (provision of basic banking services to underserved communities and financial literacy training).

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Finding this resource surprised me. I didn't know the US Treasury Department got involved with local economic development, jobs and affordable housing.

Community Development Financial Institution (CDFI)

Through monetary awards and the allocation of tax credits, the CDFI Fund helps promote access to capital and local economic growth in urban and rural low-income communities across the nation. Through its various programs, the CDFI Fund enables locally based organizations to further goals such as:
  • economic development (job creation, business development, and commercial real estate development)
  • affordable housing (housing development and homeownership)
  • community development financial services (provision of basic banking services to underserved communities and financial literacy training.

The CDFI Fund accomplishes this through the following programs:

  • Bank Enterprise Award (BEA) Program;
  • Capital Magnet Fund (CMF) Program;
  • Community Development Financial Institutions (CDFI) Program;
  • Financial Education and Counseling (FEC) Program;
  • New Markets Tax Credit (NMTC) Program; and its
  • Native Initiatives, includes the Native American CDFI Assistance (NACA) Program
  • Certification -- Community Development Entity (CDE);
  • Certification -- Community Development Financial Institution (CDFI)

    For information, see the CDFI website: www.cdfifund.gov



    Edited by Carolyn Allen, owner/editor of California Green Solutions
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