As we move toward the second half of 2019, I wanted to take a moment to provide an update on our progress, and to reflect upon some of our recent accomplishments.

Since the FY 2019 budget process was finalized in February, the CDFI Fund has been proceeding full force in its work to open the FY 2019 application rounds for its assistance programs. While we have had to adjust some of our plans for the year in response to the delays in the budget process, I am happy to report that we are on track with the timeline I released in February. We recently announced $142.9 million in Capital Magnet Fund awards, which will leverage an estimated $5.5 billion in public and private investment for affordable housing and related activities. We are also making progress with developing new trainings through our Capacity Building Initiative, streamlining and improving our application processes, and refining compliance reporting through the Awards Management Information System.

I am also pleased to release the CDFI Fund's fiscal year (FY) 2018 Year in Review. The FY 2018 Year in Review highlights and underscores the impact of CDFI Fund investments in distressed and undeserved communities across the nation. For example, CDFI Program award recipients last year reported $11.1 billion of lending and investment activity Đ an increase of nearly 50 percent over the activity reported in FY 2017. Bank Enterprise Award recipients increased their loans and investments in distressed communities by more than $470 million. New Markets Tax Credit allocatees reached nearly $4 billion in loans and investments for the year. And CDFIs participating in the CDFI Bond Guarantee Program reported that they have lent more than $727 million for in rural, urban, and Native communities across the country.

Please read the FY 2018 Year in Review to learn more about the CDFI Fund's FY 2018 accomplishments. I look forward to building upon the significant successes and impacts achieved in FY 2018 by the CDFI Fund and the national network of certified Community Development Financial Institutions, Community Development Entities, and community development organizations.

For more information about the CDFI Fund's work, visit www.cdfifund.gov.  

The CDFI Fund's FY 2018 Year in Review is now available on the CDFI Fund's website. The full publication can be viewed here.

Jodie Harris
Director
CDFI Fund