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With a population of more than 2.7 million1, the City of Chicago is the third most populous city in America and has a total economic output of $770.7 billion2. This makes it the third largest metropolitan economy in the United States, after New York and Los Angeles. In spite of the city’s economic activity, Census Bureau data indicates that 17.3% of the City’s population lives in poverty.
Update December 7, 2022: View the pre-application webinar recording and presentation here.
Interested in applying for a Capital Magnet Fund Award? You may find the following information helpful in getting started. The CDFI Fund is tentatively planning to open the fiscal year (FY) 2023 application round in early 2023.
The CDFI Fund paused acceptance of new CDFI Certification Applications and Target Market modification requests on October 1, 2022. The CDFI Fund will resume accepting new CDFI Certification Application submissions and Target Market modification requests when the new CDFI Certification Application is deployed.
The blackout period is needed to allow the CDFI Fund time to adjudicate comments that it received during the new Certification Application public comment submission process; build and test the new Application and its related reporting tools in the Awards Management Information System (AMIS); and review pending CDFI Certification Applications, Target Market modifications, and other tasks that must be completed prior to deployment of the new Application and its reporting tools.
In addition to CDFI Certification Applications and Target Market Modification Applications, the CDFI Fund will also discontinue monthly CDFI Certification Conference Calls during the blackout period, but will resume the calls once the blackout period ends.
The CDFI Fund will implement a transition period for currently Certified CDFIs after the revised Application and reporting requirements are launched. Additional information regarding the exact date by which existing CDFIs will be required to comply with the revised CDFI Certification guidelines is forthcoming.
Any questions regarding CDFI Certification should be directed to the Certification, Compliance Monitoring and Evaluation Help Desk via an AMIS Service Request, via e-mail at ccme@cdfi.treas.gov, or phone at (202) 653-0423.
Please do not submit multiple Service Requests for responses to the same questions. Due to the volume of incoming CDFI Certification and Target Market Modification Service Requests, responses to Service Requests will be delayed. However, the CDFI Fund is reviewing and responding to ALL incoming Service Requests, in turn.
Yes. Once the blackout period ends and the intake of CDFI Certification Applications resumes, organizations without an existing CDFI Certification will be required to use the new CDFI Certification Application process.
Yes. All CDFI Certification Applications and Target Market Modification Applications submitted through AMIS prior to the start of the blackout period on October 1, 2022 will be accepted and reviewed by the CDFI Fund.