New CDFI Bond Program Funds Housing (Housing Finance)

HousingFinance
(8/21/2014 2:03 PM, Staff)

The Treasury Department has guaranteed $325 million in bonds to support community and economic development projects in low-income neighborhoods across the country. Affordable housing deals are among the early projects being funded under the new Community Development Financial Institutions (CDFI) Bond Guarantee Program. The program was enacted through the Small Business Jobs Act of 2010, with the legislation directing Treasury to guarantee bonds issued to support CDFIs that make investments for eligible community and economic development purposes, including financing small business, rural infrastructure, rental housing, health-care facilities, and charter schools.