On the Eve of the Executive Order on the CDFI Fund, CDFIs Met with Congressional Supporters from Both Parties
It feels like a month ago, doesn’t it? Before the March 14th Executive Order on the CDFI Fund, the CDFI Coalition was thrilled to host more than 200 practitioners, lenders, investors and stakeholders at the 31st annual CDFI Institute on March 13th and 14th in Washington, DC. The event included two days of panels, as well as a well-timed Advocacy Day and congressional briefing and reception on Capitol Hill. Attendees engaged in panels and discussions on financing for CDFIs of all sizes, leveraging tax credits and opportunity zones, and the latest policy developments from the new administration and Congress.
Thank You to Our Sponsors!
The morning of Thursday, March 13th, began with a welcome from CDFI Coalition Chair Hank Helton of Pathway Lending and Kevin Goldsmith of JPMorgan Chase, a gold sponsor of the CDFI Institute.
Bob Rapoza, President of Rapoza Associates, gave attendees an update on a month of wild developments in Washington, DC, along with his prognostication on what comes next.
Two panels rounded out the day before heading to Capitol Hill. The first panel, featuring CDFIs and policy organizations, provided attendees with the latest legislative developments related to community development tax credits, including the New Markets Tax Credit, Opportunity Zones, LIHTC, Energy Credits, the Historic Tax Credit, and the proposed Neighborhood Homes Investment Tax Credit.
The second panel was a discussion of CDFI policy issues for the new administration and congress, which featured practitioners and CDFI policy experts from across the CDFI industry.
Thursday afternoon saw Institute attendees going to approximately 100 House and Senate meetings, which included an even division of Republican and Democratic offices.
CDFIs urged their members of Congress to provide $324 million in FY26 appropriations for the CDFI Fund.
Conference attendees were then joined by congressional staff at the historic Senate Kennedy Caucus Room [picture] for a congressional briefing which featured a panel of CDFIs from across the country highlighting the wide range of services, loans, and investments CDFIs provide, as well as an overview on CDFIs from Paul Anderson of Rapoza Associates. The briefing was followed by a congressional reception.
Friday, March 14th kicked off with a welcome from Chair Hank Helton and Desiree Francis of Capital One, a gold sponsor of the CDFI Institute.
Next a panel of CDFI lenders, foundations, and investors provided perspectives on their institutions’ priorities for CDFI funding and emerging issues, along with trends in community development finance.
This was followed by a visit from Pravina Raghavan, Director of the CDFI Fund, who spoke about the Fund’s priorities and ongoing efforts and answered a wide range of questions from the Coalition and attendees. Among the news from Director Raghavan:
- NMTC Applications from the 2024/2025 Double Round were under review
- The CDFI Fund planned to release updated certification FAQ documents and guidance by the end of March. Many CDFIs received notices about re-certification the week of the Institute.
The Institute wrapped up with a discussion led by former CDFI Coalition Chair John Holdsclaw on how CDFIs are building wealth through ownership and co-ownership. A panel of national and local voices on research, community lending, homeownership and small business support provided their insights and commentary.
We look forward to hosting again next year for our 32nd CDFI Institute!