Welcome to the Finance Fund Blog!On February 19th I participated in a conference call in which senior Treasury officials provided remarks preceding a press release and fact sheet further supporting the inclusion of a New Markets Tax Credit program extension for 2010 & 2011 in the President’s proposed budget. “As part of the Administration’s strategy to restore prosperity and create [...]
On Wed., Feb. 3, Secretary of the Treasury Timothy Geithner announced that CDFI (Community Development Financial Institution) banks, thrifts and credit unions may now access funds from the Troubled Asset Relief Program (T.A.R.P.). This is part of the Obama Administration’s movement to support business lending by community development banks and development credit unions. Mark Pinsky, [...]
This is a pretty important day in the history of Finance Fund. We learned this morning that we have been awarded $50 million in New Markets Tax Credits from the CDFI Fund in the U.S. Department of Treasury. The funding will be used to offer low-interest financing for projects that revitalize both urban and rural low-income [...]
I begin today with two days at the Novogradic New Markets Tax Credit Conference talking about current hot button issues in the industry. The most prevalent is the recently release GAO report “Minority Entities Are Less Successful in Obtaining Awards Than Non-Minority Entities” that attempts to identify reasons for the lack of success. I have [...]
At a CDFI Coalition meeting earlier this week in Washington D.C., the topic was liquidity, which is a fancy word for “where’s the money.” Seems like we have once again applied a “one size fits all” solution.
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