CDFI Connect Community Discussions

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Updated: 37 min 27 sec ago

RE: Other Targeted Populations and Low Income Targeted Populations

Fri, 2021-07-23 12:32
From : Communities>>Open Forum
Thank you Karen, your definition of LITP seems in line with what the CDFI fund told us, but we are CRE, not small business. We were also defining LITP as follows, however CDFI Fund says the last three on the list do not count as LITP: for-profit owner is low-income non-profit clients are majority low-income for-profit affordable housing develop: tenants are majority low-income for-profit BOD is majority low-income for-profit clients are majority low-income non-profit [More]

RE: Consultant for Procurement Policy

Fri, 2021-07-23 10:59
From : Communities>>Open Forum
Hi Deanna- I'm happy to share the procurement policy I wrote for our organization. We kept it simple and ensured the language mirrored what the SBA has in the SOP. Feel free to use it for your organization. ------------------------------ RB Fast Director of Operations Colorado Enterprise Fund Denver CO 7204734051 ------------------------------

Files Attached Document
RE: Consultant for Procurement Policy

NCIF is Hiring

Fri, 2021-07-23 10:22
From : Communities>>Open Forum
National Community Investment Fund is a national CDFI and the largest investor in CDFI and MDI banks. NCIF is expanding and looking to recruit talented individuals to join our growing team. Please spread the word to your networks. Vice President and Controller Senior Portfolio and Asset Management Analyst Credit Analysthttps://ncif.org/connect/about-ncif/careers Thanks,

RE: Revenue Treatment of CDFI Fund RRP Awards

Fri, 2021-07-23 09:41
From : Communities>>Open Forum
My quick answer is that we've considered CDFI Fund awards as a restricted contribution with conditions. We release based on achieving lending deployment targets. However, we have not yet decided how to recognize the Rapid Response award. One thing I've considered, for internal management purposes, is to recognize these awards as non-operating revenue and use them to increase a pool of internally designated lending capital. However, we have not established this internal designation. The auditors [More]

RE: Other Targeted Populations and Low Income Targeted Populations

Fri, 2021-07-23 09:20
From : Communities>>Open Forum
We don't have the OTP target market just qualified investment area and low-income target population, but are considering adding it. My understanding it is related to race/ethnicity only. For LITP: We fund small businesses so the household income of the majority business owner in our service area (the State of CT) must be less than 80% of the Area Median Income of the location of the business (published by HUD). IF we want to go by business owner residential address for the AMI, ALL business owners [More]

Receipt of RRP Funds

Fri, 2021-07-23 09:18
From : Communities>>Open Forum
I would like to find out if anyone has received their RRP funds yet. We have not and I want to make sure we weren't missing something we had to do to receive the funds. Thank you! Jeanne Schroer, CRE President/Chief Executive Officer Catalytic Development Funding Corp. of Northern Kentucky 50 E. RiverCenter Blvd., Ste. 260 Covington, KY 41011 859-757-0518 phone 859-760-9398 mobile

Consultant for Procurement Policy

Thu, 2021-07-22 14:53
From : Communities>>Open Forum
Hello, I'm searching for a consultant to help us draft and implement a comprehensive procurement policy.  Please, any referrals or recommendations for a consultant is greatly appreciated.  I'm also curious where other CDFIs are in the procurement process. Does anyone have a formal procurement policy in place and willing to share your experience in creating/implementing such a policy? How is DEI factored into your procurement process and procedure?  Thanks, Deanna ------------------------------ [More]

Other Targeted Populations and Low Income Targeted Populations

Thu, 2021-07-22 11:54
From : Communities>>Open Forum
Hi all, How does your organization define OTP and LITP for your CDFI Certification/Eligibility purposes? We received some info from the CDFI fund this week that seemingly contradicts our interpretation as well as what is written in the CFR. We are curious how everyone else defines these two things. Any feedback is greatly appreciated! ------------------------------ Melissa Johnson Director of Loan Operations Clearinghouse Community Development Financial Institution Lake Forest CA 9495254960 [More]

RE: Opportunity Youth and the impact on community economics

Wed, 2021-07-21 19:33
From : Communities>>Open Forum
Hi I would like that as well!  If you could give me a couple of day and time options next week or the week after that work for you we can set up a call. Thanks so much! Mel ------------------------------ Mel Litter Elemental Impact Solutions CEO/Founder www.Elementalimpactsolutions.com Frederick, MD, USA mellitter@gmail.com (443)-617-8804 ------------------------------

RE: Opportunity Youth and the impact on community economics

Wed, 2021-07-21 19:31
From : Communities>>Open Forum
Joyce,  Would it be possible to have a call with you? Thanks! Mel ------------------------------ Mel Litter Elemental Impact Solutions CEO/Founder www.Elementalimpactsolutions.com Frederick, MD, USA mellitter@gmail.com (443)-617-8804 ------------------------------

RE: Opportunity Youth and the impact on community economics

Wed, 2021-07-21 19:29
From : Communities>>Open Forum
Thank you Shirley!  This is great information! As I move through my project I will post links to resources we have been gathering as well so everyone has access. ------------------------------ Mel Litter Elemental Impact Solutions CEO/Founder www.Elementalimpactsolutions.com Frederick, MD, USA mellitter@gmail.com (443)-617-8804 ------------------------------

RE: Opportunity Youth and the impact on community economics

Wed, 2021-07-21 19:28
From : Communities>>Open Forum
Thank you for the link and information! ------------------------------ Mel Litter Elemental Impact Solutions CEO/Founder www.Elementalimpactsolutions.com Frederick, MD, USA mellitter@gmail.com (443)-617-8804 ------------------------------

RE: Opportunity Youth and the impact on community economics

Wed, 2021-07-21 14:47
From : Communities>>Open Forum
Shirley, thanks for sharing the OY & COVID-19 resources from our Aspen Institute colleagues at the Forum for Community Solutions. Mel, the Forum have been working with OY and others in communities to create pathways and opportunities for OY for more than a decade. We've partnered with them to explore entrepreneurship pathways for OY, but their work covers a much broader set of efforts. You can check out their full set of work here. Sent from Mail for Windows 10

RE: Opportunity Youth and the impact on community economics

Tue, 2021-07-20 23:36
From : Communities>>Open Forum
I would love to sit down and discuss some of my ideas. Please call me 912-412-2611 ------------------------------ Nneka Ulmer Owner Johnson Logistics, LLC SAVANNAH GA 9124122611 ------------------------------

RE: Opportunity Youth and the impact on community economics

Tue, 2021-07-20 12:04
From : Communities>>Open Forum
Mel, The Aspen Institute has a Google Docs with a variety of resources that are directly related to Opportunity Youth and Impacts from COVID. OY & Covid-19 National Resource Library Google Docs remove preview OY & Covid-19 National Resource Library Overview Opportunity Youth & Covid-19 National Resource Library Aspen Institute Forum for Community Solutions, www.aspencommunitysolutions.org aspenfcs@gmail.com This resource library is intended to help... View this on Google Docs [More]

RE: Opportunity Youth and the impact on community economics

Tue, 2021-07-20 11:41
From : Communities>>Open Forum
Hi  Thank you! I will check out the report.   Anyone have anything from 2020-2021?  How has Covid impacted the Opportunity Youth challenge? ------------------------------ Mel Litter Elemental Impact Solutions CEO/Founder www.Elementalimpactsolutions.com Frederick, MD, USA mellitter@gmail.com (443)-617-8804 ------------------------------

RE: Equity Audit

Tue, 2021-07-20 09:36
From : Communities>>Open Forum
This is very helpful. Thank you, Jason!

RE: Opportunity Youth and the impact on community economics

Tue, 2021-07-20 09:13
From : Communities>>Open Forum
Hi Mel! The Association of Enterprise Opportunity published in 2014 a very interesting research study about disconnected youth, their needs in terms of entrepreneurship education and which states have the highest percentage. Giovanna Piovanetti Executive President Corporacion para el Financiamiento Empresarial del Comercio y las Comunidades (787)756-5080 ext. 223 ------------------------------ Giovanna Piovanetti Executive President Corporacion para el Financiamiento Empresarial del Comercio y [More]

RE: Equity Audit

Mon, 2021-07-19 20:49
From : Communities>>Open Forum
Dear Les, Steve, Belinda, and Bert - we've spent a lot of time researching this, speaking with experts and trainers, because like you, we want to do everything possible to be culturally effective organizations. Our role is to link potential trainers with our clients, participate in the process, and then we can talk about a culturally and racially sensitive strategy to build stronger alliances with the BIPOC community.  A Costco multi-pack of Aspirin won't touch the headache you will get from researching [More]

Update on Capital Magnet Fund NOFA

Mon, 2021-07-19 19:51
From : Communities>>Open Forum
Dear Colleagues - it appears that the CMF NOFA won't be released until "mid-late summer' according to the CDFI Fund. So, anyone still holding their breath.... You will recall that in FY 2020, 48 awardees received $175.35 million from a total of 137 organizations that requested more than $642.2 million.  Of the 48 awardees, 27 are Community Development Financial Institutions (CDFIs) and 21 are non-profit housing organizations. For FY 2021, $380 million (no typo) will be awarded. My guess is that [More]

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