Assistance program
Border Community Capital Initiative
-$234,709 committed in FY2022–FY2022
- Agency
- Assistant Secretary for Community Planning and Development, Housing and Urban Development, Department of
- Assistance
- Project Grants
- CFDA number
- 14.266
- What it does
- The Initiative’s goal is to increase access to capital for affordable housing, business lending and community facilities in the chronically underserved and undercapitalized U.S./Mexico border region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions that focus on affordable housing, small business and community facilities to benefit the residents of colonias. Funds may be used to support eligible activities that serve the following objectives: • Expanding services in eligible colonias target markets by established lenders and investors in affordable housing, small business, and community facilities, and/or • Securing new public or private capital sources for lending or investing in affordable housing, small business and community facilities in existing or new eligible target markets.
- Who benefits
- Eligible target markets for use of Border Initiative funds include geographic areas defined as colonias by The Cranston-Gonzalez National Afford Housing Act of 1990 (Pub. L. 101-625, Nov. 28, 1990) (the Act) and the Appropriations Act of 1997 (Pub L. 104-204, Sept. 26, 1996, 110 Stat. 2887).
- Who applies
- Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations or federally recognized tribes. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. Applicants may serve other markets than colonias residents and communities, using other sources of financing.
- Authorized by
- Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999
- Program site
- Not Applicable
Committed by fiscal year
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- Committed through this program
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Direct payments