The California Organized Investment Network CDFI Tax Credit Program (COIN), which generates economic opportunity in California’s low-income rural and urban communities, could end if it is not included in the 2017-18 state budget.
A $5.5 million grant was recently awarded to Self-Help Enterprises to fund an affordable housing project and community center in Lindsay, California. Construction on the project is anticipated to begin May 2017, after additional funding is secured.
RCAC was awarded $1.5 million this week from the United States Treasury’s Community Development Financial Institutions (CDFI) Fund. RCAC’s Loan Fund will deploy the funds across its rural footprint to finance high-impact environmental, community facilities and self-help housing projects and provide loans to small businesses that create jobs.
RCAC was awarded more than $1.1 million this week from the United States Department of Housing and Urban Development’s (HUD) Community Compass program. RCAC will use the funds to provide technical support to HUD customers to navigate complex housing and community development challenges, and to equip them with the knowledge, skills, tools, capacity and systems to implement HUD programs.