On September 19th, CDFI Fund made history by announcing its largest pool of awardees for the FY 2017 CDFI Program and NACA Program. Nationwide, the CDFI Program awarded $208 million to 303 Community Development Financial Institutions (CDFIs).
FCAP was awarded a total of $3,096,905 including $1,096,905 in Financial Assistance (FA) that is expected to be focused on affordable housing for individuals with disabilities and $2 million in grant funding from the CDFI Fund’s Healthy Food Financing Initiative (HFFI). This funding allows FCAP to expand healthy food-focused financing activities and meet the unique needs of healthy food retailers operating in economically underserved communities. FCAP is one of 13 CDFIs to receive an HFFI award nationally.
In addition, FCAP is committed to invest part of its FA award in Persistent Poverty Counties (PPC). The Consolidated Appropriations Act for FY 2017 required that a portion of the funds awarded by the CDFI Fund under the appropriation “shall be used for awards that support investments that serve populations living in “Persistent Poverty Counties (PPCs). PPCs are defined as rural and urban counties where 20 percent or more of the population has lived in poverty over the past 30 years. Historically, past CDFI Program awardees have invested over $640 million in PPCs. This year, along with one-third of the awardees, FCAP is proud to have been selected to receive these funds.