Department of the Treasury 

Community Development 

Financial Institutions Funds 

Congressional Budget 

Justification and Annual 

Performance Plan and Report 

FY 2022 
CDFI – 2 

Table of Contents

Section I – Budget Request........................................................................................................... 4

A – Mission Statement ................................................................................................................ 4

B – Summary of the Request ...................................................................................................... 4

1.1 – Appropriations Detail Table .............................................................................................. 5

1.2 – Budget Adjustments Table ................................................................................................. 6

C – Budget Increases and Decreases Description ....................................................................... 6

1.3 – Object Classification (Schedule O) Obligations ................................................................ 7

D – Appropriations Language and Explanation of Changes ...................................................... 8

E – Legislative Proposals .......................................................................................................... 10

Section II – Annual Performance Plan and Report ................................................................. 11

A – Strategic Alignment ........................................................................................................... 11

B – Budget and Performance by Budget Activity .................................................................... 12

2.1.1 – Administration Resources and Measures ...................................................................... 12

2A – Administration Budget and Performance ......................................................................... 12

2.1.2 – Community Development Financial Institutions Program Resource and Measures .... 13

2B – Community Development Financial Institutions Program............................................... 14

2.1.3 – New Markets Tax Credit Resources and Measures ...................................................... 15

2C – New Markets Tax Credit Program ................................................................................... 15

2.1.4 – Bank Enterprise Award Program Resources and Measures ......................................... 16

2D – Bank Enterprise Award Program ..................................................................................... 16

2.1.5 – Native American CDFI Assistance Program Resources and Measures ........................ 17

2E – Native American CDFI Assistance Program .................................................................... 17

2.1.6 – Healthy Food Financing Initiative Detail Resources and Measures ............................. 18

2F – Healthy Food Financing Initiative .................................................................................... 18

2.1.7 – Small Dollar Loan Program Resource and Measures ................................................... 18

2G - Small Dollar Loan Program .............................................................................................. 19

2.1.8 – Capital Magnet Fund Program Resource Detail Table ................................................. 19

2H. – Capital Magnet Fund Program ........................................................................................ 19

2.1.9 – CDFI Bond Guarantee Program Resource Detail Table ............................................... 20

2.1.10 – CDF Bond Guarantee Program Financing Account – Non-Budgetary Summary ...... 20

2I. – CDFI Bond Guarantee Program Budget and Performance .............................................. 20

C – Changes in Performance Measures .................................................................................... 21
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D– Evidence-Building Activity ................................................................................................ 23

Section III – Additional Information ........................................................................................ 25

A – Summary of Capital Investments ....................................................................................... 25
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Section I – Budget Request 

A – Mission Statement 

To expand economic opportunity for underserved people and communities by supporting the 

growth and capacity of a national network of community development lenders, investors and 

financial service providers. 

B – Summary of the Request 

The Community Development Financial Intuitions Fund (CDFI Fund) requests the following for 

fiscal year (FY) 2022: 

 $215.4 million for the Community Development Financial Institutions Program (CDFI 

Program) to provide Financial Assistance (FA) and Technical Assistance (TA) awards, 

training and technical assistance. Through the CDFI Program, the CDFI Fund makes awards 

to invest in and build the capacity of Community Development Financial Institutions 

(CDFIs) to serve low-income communities lacking adequate access to affordable financial 

products and services. Increased investment in the CDFI Program supports the need for 

greater capital flow to communities and geographies where access to capital is least efficient 

and most needed, including rural areas and persistent poverty counties, and to CDFIs seeking 

to build both capital and capacity to deploy resources. The proposed budget supports FA and 

TA awards to CDFIs to further goals that include, among others: 

- Economic development (job creation, small business lending, and commercial real estate 

development); 

- Affordable housing development (housing development and homeownership); 

- Provision of financial services (such as basic banking services to underserved 

communities); and 

- Provision of development services (such as financial literacy or homebuyer counseling 

and education). 

 $2 million for the AmeriCorps CDFI Economic Mobility Corps, to be operated in 

conjunction with Corporation for National and Community Service (CNCS) to place national 

service members at Certified CDFI’s to strengthen the capacity of CDFI’s to perform 

activities related to financial literacy, financial planning, and other financial counseling 

activities, giving priority to positions in rural areas and to veterans. 

 $26 million for the Bank Enterprise Award Program (BEA Program), which incentivizes 

insured banks and thrifts to invest in CDFIs and increase their lending and financial services 

in economically distressed communities. 

 $21.5 million for FA and TA awards for the Native CDFI Assistance Program (NACA 

Program), which provides awards and training to CDFIs that primarily serve Native 

Communities and to entities proposing to become or create Native CDFIs. These awards will 

increase access to credit, capital, and financial services in Native Communities. 

 $33.6 million in administrative funding to support a variety of purposes, including: 

- Staffing and resource demands created by significant growth across all programs, 

including the NMTC Program and the CDFI Bond Guarantee Program (BG Program); 

- Administration of non-monetary programs and activities, including compliance 

monitoring and CDFI Certification; 
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- Enhancement of the Awards Management Information System (AMIS) including 

automation of key elements of the compliance and reporting systems and continuing 

improvements to operational efficiency and effectiveness; and 

- Continued refinement of the CDFI Program Assessment and Risk Management (ARM) 

Framework - a suite of tools that the CDFI Fund uses to assess the financial and 

programmatic risk of CDFI Program applicants and award recipients, enhance datadriven decision-making, and mitigate post-award compliance reporting risks. 

 $23 million for Healthy Food Financing Initiative (HFFI) awards to CDFIs to expand 

financing for healthy food options in underserved urban and rural communities. 

 $8.5 million for the Small Dollar Loan Program (SDL Program) to provide grants for Loan 

Loss Reserves and Technical Assistance to CDFIs to establish and maintain small dollar loan 

programs. The SDLP Program funding is intended to expand consumer access to mainstream 

financial institutions by providing alternatives to high cost small dollar lending. The SDLP 

Program funding is also intended to help unbanked and underbanked populations build 

credit, access affordable capital, and allow greater access into the mainstream financial 

system. 

1.1 – Appropriations Detail Table 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Appropriated Resources Operating Plan Operating Plan Request % Change 

New Appropriated Resources FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT 

Community Development 

Financial Institutions Fund 

Program 

0 $163,500 0 $165,000 0 $215,383 NA 30.5% 

Economic Mobility Corps 0 $2,000 0 $2,000 0 $2,000 NA 0.0% 

Bank Enterprise Award Program 0 $25,000 0 $26,000 0 $26,000 NA 0.0% 

Native American CDFI 

Assistance Program 0 $16,000 0 $16,500 0 $21,500 NA 30.3% 

Administrative 70 $28,500 82 $29,000 89 $33,617 8.5% 15.9% 

Healthy Food Financing 

Initiative 0 $22,000 0 $23,000 0 $23,000 NA 0.0% 

Small Dollar Loan Program 0 $5,000 0 $8,500 0 $8,500 NA 0.0% 

Subtotal New Appropriated 

Resources 70 $262,000 82 $270,000 89 $330,000 8.5% 22.2% 

Other Resources 

User Fees 0 $1,043 0 $1,164 0 $1,200 NA 3.1% 

Recoveries from Prior Years 0 $600 0 $500 0 $500 NA 0.0% 

Unobligated Balances from Prior 

Years 0 $193,017 0 $13,569 0 $31,169 NA 129.7% 

Subtotal Other Resources 0 $194,660 0 $15,233 0 $32,869 NA 115.8% 

Total Budgetary Resources 70 $456,660 82 $285,233 89 $362,869 8.5% 27.2% 

FY 2020 Other Resources and Full-time Equivalents (FTE) reflect actuals. 

 
CDFI – 6 

1.2 – Budget Adjustments Table 

Dollars in Thousands 

 FTE Amount 

FY 2021 Operating Plan 82 $270,000 

Program Changes: 

Program Increases: 7 $60,000 

CDFI Program 0 $50,383 

Native American CDFI Assistance (NACA) Program 0 $5,000 

Administration 7 $4,617 

FY 2022 President's Budget Request 89 $330,000 

C – Budget Increases and Decreases Description 

Program Increases .................................................................................... +$60,000,000/ +7 FTE 

CDFI Program +$50,383,000 / +0 FTE 

The CDFI Fund will increase the amount of Financial Assistance (FA) and Technical Assistance 

(TA) awards. An increase of $50.4 million to the CDFI Program will result in larger FA awards 

to increase the number of business and microenterprise loans, home improvement and purchase 

loans, residential real estate transactions, and other consumer loans and products offered by 

CDFI awardees. This increase would also support Small and/or Emerging Community 

Development Financial Assistance applicants and provide more funding for capacity building 

grants through the technical assistance component. 

Native American CDFI Assistance (NACA) Program +$5,000,000 / +0 FTE 

The CDFI Fund will increase the NACA Program by $5 million, which will result in larger FA 

awards to increase the number of business and microenterprise loans, home improvement and 

purchase loans, residential real estate transactions, and other consumer loans and products in 

Native Communities. It will also be used to increase participation by Native communities by 

improving technical assistance and capacity building for Native CDFIs. 

Administration +$4,617,000 / +7 FTE 

An increase of $4.6 million in administration funding will support the hiring of seven new staff 

for program, compliance, performance reporting and data collection, and IT system 

development. It will support research on the Growth and Self-sufficiency of the CDFI Sector and 

its Impact on Underserved Communities, Minorities and Economic Inequality. In addition, it will 

enable the CDFI Fund to prepare for updating all its program eligibility data based on the 

forthcoming Decennial Census data, and update the CDFI Impact Mapping System (CIMS) used 

for compliance and performance reporting across programs. Finally, it will provide more support 

for IT contracts related to system enhancement and development, especially new program 

applications and improved efficiency and automation of compliance validation processes. 
CDFI – 7 

1.3 – Object Classification (Schedule O) Obligations 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 

Object Classification 

Actual 

Obligations 

Estimated 

Obligations 

Estimated 

Obligations 

11.1 - Full-time permanent 9,539 10,319 11,173 

11.9 - Personnel Compensation (Total) 9,539 10,319 11,173 

12.0 - Personnel benefits 3,170 3,489 3,818 

Total Personnel and Compensation Benefits $12,709 $13,808 $14,991 

21.0 - Travel and transportation of persons 23 72 70 

24.0 - Printing and reproduction 0 2 2 

25.1 - Advisory and assistance services 4,484 3,938 1,743 

25.2 - Other services from non-Federal sources 44 20 20 

25.3 - Other goods and services from Federal sources 6,630 9,410 10,171 

25.7 - Operation and maintenance of equipment 386 1,918 2,600 

26.0 - Supplies and materials 24 25 26 

31.0 – Equipment 3,912 4,807 6,494 

41.0 - Grants, subsidies, and contributions 422,332 236,000 323,383 

Total Non-Personnel $437,835 $256,192 $344,509 

Total Obligations $450,544 $270,000 $359,500 

 

Full-time Equivalents (FTE) 70 82 89 

Amounts reflect obligations of annually appropriated resources, carryover balances, reimbursables, and transfers. 

 
CDFI – 8 

D – Appropriations Language and Explanation of Changes 

Appropriations Language Explanation of Changes 

DEPARTMENT OF THE TREASURY 

COMMUNITY DEVELOPMENT FINANCIAL 

INSTITUTIONS FUND 

SALARIES AND EXPENSES 

To carry out the Riegle Community Development and 

Regulatory Improvement Act of 1994 (subtitle A of title I of 

Public Law 103–325), including services authorized by section 

3109 of title 5, United States Code, but at rates for individuals 

not to exceed the per diem rate equivalent to the rate for EX-III, 

[$270,000,000]$330,000,000. Of the amount appropriated under 

this heading— 

(1) not less than [$167,000,000]$217,383,000, notwithstanding 

section 108(e) of Public Law 103–325 (12 U.S.C. 4707(e)) with 

regard to Small and/or Emerging Community Development 

Financial Institutions Assistance awards, is available until 

September 30, [2022]2023, for financial assistance and technical 

assistance under subparagraphs (A) and (B) of section 108(a)(1), 

respectively, of Public Law 103–325 (12 U.S.C. 4707(a)(1)(A) 

and (B)), of which up to $1,600,000 may be available for 

training and outreach under section 109 of Public Law 103–325 

(12 U.S.C. 4708), of which up to [$2,374,500]$3,153,750 may 

be used for the cost of direct loans, of which up to $6,000,000, 

notwithstanding subsection (d) of section 108 of Public Law 

103–325 (12 U.S.C. 4707 (d)), may be available to provide 

financial assistance, technical assistance, training, and outreach 

to community development financial institutions to expand 

investments that benefit individuals with disabilities, and of 

which not less than $2,000,000 shall be for the Economic 

Mobility Corps to be operated in conjunction with the 

Corporation for National and Community Service, pursuant to 

42 U.S.C. 12571: Provided, That the cost of direct and 

guaranteed loans, including the cost of modifying such loans, 

shall be as defined in section 502 of the Congressional Budget 

Act of 1974: Provided further , That these funds are available to 

subsidize gross obligations for the principal amount of direct 

loans not to exceed $25,000,000: Provided further, That of the 

funds provided under this paragraph, excluding those made to 

community development financial institutions to expand 

investments that benefit individuals with disabilities and those 

made to community development financial institutions that serve 

populations living in persistent poverty counties, the CDFI Fund 

shall prioritize Financial Assistance awards to organizations that 
CDFI – 9 

invest and lend in high-poverty areas: Provided further, That for 

purposes of this section, the term "high-poverty area" means any 

census tract with a poverty rate of at least 20 percent as 

measured by the 2011–2015 5-year data series available from 

the American Community Survey of the Bureau of the Census 

for all States and Puerto Rico or with a poverty rate of at least 20 

percent as measured by the 2010 Island areas Decennial Census 

data for any territory or possession of the United States; 

(2) Not less than [$16,500,000]$21,500,000, notwithstanding 

section 108(e) of Public Law 103–325 (12 U.S.C. 4707(e)), is 

available until September 30, [2022]2023, for financial 

assistance, technical assistance, training, and outreach programs 

designed to benefit Native American, Native Hawaiian, and 

Alaska Native communities and provided primarily through 

qualified community development lender organizations with 

experience and expertise in community development banking 

and lending in Indian country, Native American organizations, 

Tribes and Tribal organizations, and other suitable providers; 

(3) not less than $26,000,000 is available until September 30, 

[2022]2023, for the Bank Enterprise Award program; 

(4) not less than $23,000,000, notwithstanding subsections (d) 

and (e) of section 108 of Public Law 103–325 (12 U.S.C. 

4707(d) and (e)), is available until September 30, [2022]2023, 

for a Healthy Food Financing Initiative to provide financial 

assistance, technical assistance, training, and outreach to 

community development financial institutions for the purpose of 

offering affordable financing and technical assistance to expand 

the availability of healthy food options in distressed 

communities; 

(5) not less than $8,500,000 is available until September 30, 

[2022]2023, to provide grants for loan loss reserve funds and to 

provide technical assistance for small dollar loan programs 

under section 122 of Public Law 103–325 (12 U.S.C. 4719): 

Provided, That sections 108(d) and 122(b)(2) of such Public 

Law shall not apply to the provision of such grants and technical 

assistance; 

(6) up to [$29,000,000]$33,617,000 is available until September 

30, [2021]2022, for administrative expenses, including 

administration of CDFI Fund programs and the New Markets 

Tax Credit Program, of which not less than $1,000,000 is for the

development of tools to better assess and inform CDFI 
CDFI – 10 

investment performance and CDFI Fund program impacts, and 

up to $300,000 is for administrative expenses to carry out the 

direct loan program; and 

(7) during fiscal year [2021]2022, none of the funds available 

under this heading are available for the cost, as defined in 

section 502 of the Congressional Budget Act of 1974, of 

commitments to guarantee bonds and notes under section 114A 

of the Riegle Community Development and Regulatory 

Improvement Act of 1994 (12 U.S.C. 4713a): Provided, That 

commitments to guarantee bonds and notes under such section 

114A shall not exceed $500,000,000: Provided further, That 

such section 114A shall remain in effect until December 31, 

[2021]2022: Provided further, That of the funds awarded under 

this heading, except those provided for the Economic Mobility 

Corps, not less than 10 percent shall be used for awards that 

support investments that serve populations living in persistent 

poverty counties: Provided further, That for the purposes of this 

paragraph and paragraph (1), the term "persistent poverty 

counties" means any county, including county equivalent areas 

in Puerto Rico, that has had 20 percent or more of its population 

living in poverty over the past 30 years, as measured by the 

1990 and 2000 decennial censuses and the 2011–2015 5-year 

data series available from the American Community Survey of 

the Bureau of the Census or any other territory or possession of 

the United States that has had 20 percent or more of its 

population living in poverty over the past 30 years, as measured 

by the 1990, 2000 and 2010 Island Areas Decennial Censuses, 

or equivalent data, of the Bureau of the Census. (Department of 

the Treasury Appropriations Act, 2021.)

Extension of the Bond 

Guarantee Program 

through December 31, 

2022 to allow more time 

to close complex and 

time-consuming bond 

commitments 

E – Legislative Proposals 

The Budget proposes to expand the Capital Magnet Fund by $12 billion as part of the American 

Jobs Plan. 

 
CDFI – 11 

Section II – Annual Performance Plan and Report 

A – Strategic Alignment 

The CDFI Fund’s mission is to expand economic opportunity for underserved people and 

communities by supporting the growth and capacity of a national network of community 

development lenders, investors, and financial service providers. 

In accordance with the Government Performance and Results Act Modernization Act 

(GPRAMA) of 2010, the Department of the Treasury is currently developing the FY 2022 – 

2026 Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. The 

Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

departmental strategic goals and objectives. 

 

The CDFI Fund’s award recipients provide loans, investments, business counseling, basic 

banking services, and financial literacy training in some of the most distressed communities in 

the nation. These are the communities where job opportunities remain stagnant and that 

otherwise lack access to more mainstream forms of capital – the places in the United States that 

are not progressing economically as other parts of our economy have improved. CDFI Fund 

award recipients use their awards to increase access to capital and help improve the quality of 

life and boost the local economy in these communities. 

The CDFI Fund has articulated five goals in its FY 2018-2022 Strategic Plan aimed at 1) 

increasing the impact of the CDFI Fund network by supporting the growth, reach, and 

performance of CDFI Fund awardees; 2) building the capacity of the CDFI Fund and its network 

to better capture, produce, and utilize data to improve decision-making, performance and 

accountability; 3) ease the customer experience and create on-ramps for new and emerging 

CDFIs and CDEs to access CDFI Fund programs; 4) promote awareness of CDFIs in order to 

expand their access to new resources; and 5) create organizational excellence by increasing 

workforce engagement, enhancing team performance, and improving operational efficiency. 

The FY 2022 Budget will advance these goals by allowing the CDFI Fund to administer and 

fully staff all programs including those that are authorized by Congress but do not require annual 

appropriations (i.e., the NMTC Program). In addition, the CDFI Fund will continue to conduct 

ongoing program compliance for prior-year award recipients for all programs. 

The Budget request is also intended to cover the cost to administer certification of CDFIs, as 

required by the Riegle Act, as well as Community Development Entities (CDEs), as required by 

the NMTC program. CDFI certification is a prerequisite for eligibility for the BG Program, the 

SDL Program and the Capital Magnet Fund (CMF), as well as other federal programs outside of 

the CDFI Fund. CDE certification is a prerequisite for eligibility for the NMTC program. 

The Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (P. L. 116-260) 

provided $3 billion to the CDFI Fund to CDFIs deliver immediate assistance in communities 

impacted by the COVID-19 pandemic. In the spring of FY 2021, the CDFI Fund plans to award 

$1.25 billion of these funds through its newly established CDFI Rapid Response Program (CDFI 

RRP), which is designed to quickly deploy capital to CDFIs through a streamlined application 
CDFI – 12 

and review process. Through the CDFI RRP, CDFIs will be provided with resources necessary to 

respond to the economic impacts of the COVID-19 pandemic in distressed and underserved 

communities and people. 

To further assist distressed and underserved communities in responding to the economic impacts 

of the COVID–19 pandemic, the CDFI Fund will also begin the process of making $1.75 billion 

in funds available to support lending in minority communities and minority lending institutions 

through its Minority Lending Program (MLP) in FY 2022. Of these funds, $1.2 billion is 

reserved for award to minority lending institutions, which are CDFIs, that are designated as 

Minority Depository Institutions (MDIs) or meet other standards for accountability to minority 

populations as determined by the CDFI Fund; and, $550 million will be awarded to CDFIs to 

expand their lending, grant making, or investment activity in low- or moderate-income minority 

communities and to minorities that have significant unmet capital or financial service needs.

B – Budget and Performance by Budget Activity 

2.1.1 – Administration Resources and Measures 

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $23,600 $26,000 $27,000 $27,000 $28,500 $29,000 $33,617 

Budget Activity Total $23,600 $26,000 $27,000 $27,000 $28,500 $29,000 $33,617 

Full-time Equivalents (FTE) 77 74 66 67 76 82 89 

The FY 2016 - FY 2020 appropriated resources represents the approved operating plan. The FY 2016 - FY 2020 columns represent realized 

resources for full-time equivalents. 

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Actual Actual Target Target Target 

All Award Cycle Time (Months) 7.6 6.3 5.8 6.4 5.5 6.5 6.5 6.5 

All-Time to Initial Disbursement 

(#Months) B 7.5 7.0 7.0 4.4 4.5 4.5 4.5 

ALL- Number of Affordable 

Housing Units Developed or 

Produced 

35,251 27,443 34,083 61,839 44,361 21,500 I I 

Key: B – Baseline; I – Indicator 

2A – Administration Budget and Performance 

($33,617,000 from direct appropriations): 

This encompasses the CDFI Fund’s operational support and management activities for each of its 

ongoing award programs. It includes, among other activities, developing notices of award 

availability and application materials; reviewing and evaluating certification and award 

applications; selecting awardees; finalizing the terms of award agreements; making 

disbursements; collecting and evaluating performance data; monitoring awardees’ compliance; 

and award closeout processes.

 
CDFI – 13 

Description of Performance: 

The CDFI Fund’s three administrative performance measures focus on organization-wide 

efficiency, measuring how quickly awards are made and funds are disbursed, and the creation of 

affordable housing units across all CDFI Fund programs. 

• The All Cycle Time measures the average time from the date when applications are received 

to the date of award announcement (calculated in months as an average across all programs). 

The Award Cycle Time in FY 2020 was 5.5 months, thereby exceeding the target of 6.5 

months. This achievement reflects improved efficiency in making awards, which is largely a 

function of the implementation of the AMIS system. For FY 2021 and FY 2022 the target will 

remain at 6.5 months because the CDFI Fund will be standing up additional programs funded 

by the Consolidated Omnibus Act, 2021 and the SDL Program. 

• The Time to Initial Disbursement indicates how quickly the CDFI Fund completes award 

agreements and makes the first disbursement of funds or issues tax credits. The FY 2019 

program disbursement results were tabulated in FY 2020 at 4.4 months which exceeded the 

4.5 month target due to improved efficiencies through the AMIS system. The target will 

remain at 4.5 months for FY 2021 and FY 2022. 

 

• The Number of Affordable Housing Units Developed or Produced metric measures the 

number of affordable housing units developed or produced as a result of CDFI Fund awards as 

reported by CDFI Program, NMTC Program, and CMF awardees and NMTC allocation 

recipients. The FY 2020 actual result of 44,361 affordable housing units was well above the 

target of 21,500 affordable housing units. This measure is being converted to an indicator 

because of the variability in projecting annually the number of affordable housing units 

funded for three programs makes it difficult to project a reliable target. See section C: 

Proposed Changes to Performance Measures. 

2.1.2 – Community Development Financial Institutions Program Resource and Measures 

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $153,423 $161,500 $160,000 $160,000 $165,500 $167,000 $215,383 

Budget Activity Total $153,423 $161,500 $160,000 $160,000 $165,500 $167,000 $215,383 

The FY 2016 - FY 2020 appropriated resources represents the approved operating plan. 

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY2021 FY2022 

Actual Actual Actual Actual Actual Target Target Target 

CDFI - Percentage of Loans & 

Investments Originated in 

Eligible Distressed or 

Underserved Communities by 

Dollar Amount of Loans 

(Annual %) 

80.9 81.2 73.7 75.6 75.0 60.0 60.0 60.0 

CDFI - Percentage of Loans & 

Investments Originated in 

Eligible Distressed or 

Underserved Communities by 

Number of Loans 

81.5 83.0 72.1 78.8 79.6 60.0 60.0 60.0 
CDFI – 14 

2B – Community Development Financial Institutions Program 

($217,383,000 from direct appropriations) 

The CDFI Program makes FA awards to CDFIs that have comprehensive business plans for 

creating community development impact and that demonstrate the ability to leverage private 

sector sources of financing, as well as TA grants to CDFIs and entities proposing to become 

CDFIs. CDFIs use FA awards to further goals such as: 

• Economic development (job creation, business development, and commercial real estate 

development); 

• Affordable housing (rental housing and homeownership); and 

• Financial services (provision of basic banking services and financial literacy training to 

underserved people and communities). 

For the FY 2020 CDFI Program round, the CDFI Fund awarded $142.8 million in Base-FA and 

TA awards to 357 organizations in 45 states, the District of Columbia, and Puerto Rico. In 

addition to the Base-FA awards, the CDFI Fund will also provide the following supplemental FA 

awards: 

 $22 million to 13 CDFIs through the Healthy Food Financing Initiative-Financial Assistance 

(HFFI-FA) awards, a supplemental program designed to encourage investments in businesses 

that provide healthy food options for communities; 

 $4 million to 17 CDFIs through the Disability Funds-Financial Assistance (DF-FA) awards, a 

supplemental program designed to help CDFIs finance projects and services that will assist 

individuals with disabilities; and 

 $18.5 million to 106 CDFIs through the Persistent Poverty Counties-Financial Assistance 

(PPC-FA) awards, which is a supplemental program designed to encourage investments in 

Persistent Poverty Counties nationwide. 

The request includes $2 million for the AmeriCorps CDFI Economic Mobility Corps (EMC), 

which is a joint initiative of the CDFI Fund and CNCS that places full-time national service 

members in Certified CDFIs to enhance their capacity to provide financial literacy, financial 

planning, budgeting, saving, and other financial counseling activities. Award funding for the 

inaugural round of EMC was made available through the CNCS FY 2021 AmeriCorps State and 

National Grant program Notice of Funding Opportunity (NOFO) that was released September 

2020. EMC awards will be announced May 2021. 

Description of Performance: 

The CDFI Program has two measures: (1) the percentage of loans and investments originated in 

eligible distressed communities or made to underserved populations, as measured against the 

total dollar amount of loans originated by awardees; and (2) the percentage of loans and 

investments originated in eligible distressed communities or to underserved populations, as 

measured against the total number of loans originated by awardees. 

Certification criteria require that all certified CDFIs originate at least 60.0 percent of their loans 

and investments in eligible distressed census tracts or to underserved populations. The target is 

set at a level that allows CDFIs to balance their mission to serve distressed communities and 

underserved populations with their safety and soundness considerations. 
CDFI – 15 

In FY 2020, the CDFI Program surpassed the 60.0 percent threshold for the percentage of both 

the dollar amount (75 percent) and the number of CDFI loans (79.6 percent) made to eligible 

distressed communities and underserved populations. 

2.1.3 – New Markets Tax Credit Resources and Measures 

Dollars in Thousands 

 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $0 $0 $0 $0 $0 $0 $0

Budget Activity Total 0 0 0 0 0 0 0

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Actual Actual Target Target Target 

NMTC - Percentage of Loans and 

Investments That Went Into Severely 

Distressed Communities 

74.5 77.5 73.6 80.3 77.2 75.0 75.0 75.0 

2C – New Markets Tax Credit Program 

($0 from direct appropriations): 

The NMTC Program stimulates capital investment in low-income communities nationwide by 

permitting individual and corporate taxpayers to receive a non-refundable tax credit against 

federal income taxes for making equity investments in CDEs. CDEs that receive the tax credit 

allocation authority under the program are domestic corporations or partnerships that provide 

loans, investments, or financial counseling in low-income urban and rural communities. 

On December 27, 2020, legislation was enacted extending allocation authority of the NMTC 

Program for five years through calendar year (CY) 2025 at $5 billion. 

Description of Performance: 

In FY 2020, the CDFI Fund awarded $3.5 billion in CY 2019 NMTC Program allocation 

authority to 76 organizations out of a pool of 206 applicants that requested $14.7 billion in 

NMTC allocations. 

In FY 2020, CDEs reported that 77.2 percent of NMTC investments were made in severelydistressed communities, exceeding the target of 75 percent. The expectation is that the NMTC 

investments performance report for FY 2021 and FY 2022 will meet or exceed the 75 percent 

target. 
CDFI – 16 

2.1.4 – Bank Enterprise Award Program Resources and Measures 

Dollars in Thousands

 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $19,000 $23,000 $25,000 $25,000 $25,000 $26,000 $26,000

Budget Activity Total $19,000 $23,000 $25,000 $25,000 $25,000 $26,000 $26,000 

The FY 2016 - FY 2020 appropriated resources represents the approved operating plan. 

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Actual Actual Target Target Target 

BEA - Increase in Community 

Development Activities Over 

Prior Year For All BEA Program 

Applicants ($ million) 

539 522 646 429 469 530 DISC DISC 

Bank Enterprise Award Program 

(BEA) leverage ratio is the dollar 

sum of all award recipients’ 

qualified activities to the dollar 

sum of all awards in a given year. 

NA NA NA NA NA NA B B 

Key: B – Baseline, DISC - Discontinued 

2D – Bank Enterprise Award Program 

($26,000,000 from direct appropriations): 

The BEA Program provides monetary awards to regulated banks and thrifts for increasing their 

investments in CDFIs through grants, stock purchases, loans, deposits, and other forms of 

financial and technical assistance, and for increasing their lending, investment, and service 

activities in economically-distressed communities where at least 30 percent of residents have 

incomes less than the national poverty level and where the unemployment rate is at least 1.5 

times the national unemployment rate. 

Description of Performance: 

The BEA Program measures applicants’ increase in qualified community development activities 

over the prior year. For the FY 2020 BEA Program round, the CDFI Fund awarded $25.2 

million in grants to 138 organizations. 

In FY 2020, the BEA Program reported $469 million in qualified community development 

activities, which was below the target of $530 million. However, the FY 2020 results are the last 

year for reporting on this performance measure as it is being replaced by a new performance 

measure. The new BEA Program performance measure is a leverage ratio of the dollar sum of all 

award recipients’ qualified activities to the dollar sum of all awards in a given year. See section 

C: Proposed Changes to Performance Measures for an explanation of the change. 
CDFI – 17 

2.1.5 – Native American CDFI Assistance Program Resources and Measures 

Dollars in Thousands

 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $15,500 $15,500 $16,000 $16,000 $16,000 $16,500 $21,500

Budget Activity Total $15,500 $15,500 $16,000 $16,000 $16,000 $16,500 $21,500 

The FY 2016 - FY 2020 appropriated resources represents the approved operating plan. 

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Actual Actual Target Target Target 

NACA - Percentage of NACA 

Loans and Investments in Native 

Areas ($ Amount of Loans) 

61.2 47.9 84.9 78.0 57.2 50.0 50.0 50.0 

NACA - Percentage of NACA 

Loans and Investments in Native 

Areas (# of Loans) 

96.3 95.1 94.4 86.0 72.1 50.0 50.0 50.0 

2E – Native American CDFI Assistance Program 

($21,500,000 from direct appropriations): 

Through the NACA Program, the CDFI Fund assists entities in overcoming barriers that prevent 

access to credit, capital, and financial services in American Indian, Alaska Native, and Native 

Hawaiian communities. The NACA Program makes monetary awards to increase the number 

and capacity of existing or new Native CDFIs (i.e., CDFIs that serve Native communities). In 

addition, the NACA Program provides training to help strengthen and develop Native CDFIs. 

Native CDFIs lend where other mainstream financial institutions do not and serve the poorest 

individuals, families, and businesses in Native communities 

For the FY 2020 round of the NACA Program, The CDFI Fund awarded $15.2 million in FY 

2020 NACA Program Base-FA and TA awards to 40 organizations in 18 states. In addition, the 

CDFI Fund awarded $1.6 million in NACA Program PPC-FA awards to 11 Native CDFIs. 

Description of Performance: 

The two measures of performance for the NACA Program are: (1) the percentage of the number 

of loans, and (2) the dollar amount of loans, made in tribal lands (based on Federal Designations 

of Tribal Areas) or to Native people. In accordance with their Assistance Agreements, NACA 

awardees are required to originate 50 percent or more of their loans and investments in Native 

areas or to Native populations. This threshold is set to allow the awardees to balance their 

mission of serving Native areas and populations with safety and soundness considerations. 

In FY 2020, NACA recipients reported outcome data for their 2019 activities, which showed that 

57.2 percent of loans by dollar amount and 72.1 percent of the number of loans originated were 

in Native Areas or to Native borrowers, thereby exceeding the target of 50 percent for both 

measures. 
CDFI – 18 

2.1.6 – Healthy Food Financing Initiative Detail Resources and Measures 

Dollars in Thousands

 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2021 

 Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Appropriated Resources $22,000 $22,000 $22,000 $22,000 $22,000 $23,000 $23,000

Budget Activity Total $22,000 $22,000 $22,000 $22,000 $23,000 $23,000 $23,000 

The FY 2016 - FY 2020 appropriated resources represents the approved operating plan. 

Performance Measure 

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Actual Actual Target Target Target 

HFFI - Retail Outlets 

Created/Preserved 19 24 20 23 25 20 I I 

Key: I – Indicator 

2F – Healthy Food Financing Initiative 

($23,000,000 from direct appropriations):

The HFFI aims to eliminate “food deserts” – low-income urban and rural areas in the United 

States with limited access to affordable and nutritious food – by financing interventions that 

expand the supply of, and demand for, nutritious foods. The objectives include increasing the 

distribution of agricultural products, developing and equipping grocery stores, and strengthening 

producer-to-consumer relationships. 

Through the HFFI, the CDFI Fund provides awards to Certified CDFIs to help address the need 

for healthy food in underserved and low-income communities. These organizations use federal 

grants, below market-rate loans, loan guarantees, and tax credits to attract private sector 

financing for projects that increase access to healthy food options. 

Description of Performance: 

The primary HFFI performance measure is the number of healthy food retail stores created and 

maintained in low-income areas that have been identified through detailed census tract analysis 

as having limited access to healthy food options. In FY 2020, the number of HFFI Retail outlets 

created was 25, thereby exceeding the target of 20 new retail outlets for activities carried out in 

2019. See Section C: below for a discussion of the changes to the HFFI performance measure 

which is being converted to an indicator. 

2.1.7 – Small Dollar Loan Program Resource and Measures 

Dollars in Thousands

FY 2020 FY 2021 FY 2022 

Resource Level Actual Operating Plan Request 

Appropriated Resources $5,000 $8,500 $8,500 

Budget Activity Total $5,000 $8,500 $8,500 

FY 2020 appropriated resources represents the approved operating plan. 
CDFI – 19 

2G - Small Dollar Loan Program 

($8,500,000 from direct appropriations): 

Authorized by Section 1206 of the Dodd-Frank Wall Street Reform and Consumer Protection 

Act (P.L. 111-203), the SDL Program provides grants for Loan Loss Reserves and Technical 

Assistance to CDFIs to establish and maintain small dollar loan programs. SDL Program funding 

is intended to expand consumer access to mainstream financial institutions by providing 

alternatives to high cost small dollar lending. The SDL Program funding is also intended to help 

unbanked and underbanked populations build credit, access affordable capital, and allow greater 

access into the mainstream financial system. 

Description of Performance: 

This is a new program and the performance measures are still being developed in consultation 

with Office of Strategic Planning and Performance Improvement (OSPPI) and the Office of 

Performance Budget (OPB). 

2.1.8 – Capital Magnet Fund Program Resource Detail Table 

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Actual Estimate 

GSE Distribution $100,292 $119,413 $144,917 $131,884 $175,809 $382,748 $200,000 

Budget Activity Total $100,292 $119,413 $144,917 $131,884 $175,809 $382,748 $200,000 

FTE 0 4 4 3 5 5 6 

2H. – Capital Magnet Fund Program 

($0 from direct appropriations): 

The CMF Program authorized by the Housing and Economic Recovery Act of 2008 (P.L. 110-

289), establishes recurrent funding of the CMF through allocations from the GovernmentSponsored Enterprises (GSEs) Fannie Mae and Freddie Mac. Through CMF, the CDFI Fund 

provides grants to CDFIs and qualified non-profit housing organizations to finance affordable 

housing, community service facilities, and economic development facilities. Award recipients 

can use funds to create financing tools such as loan funds, loan loss reserves, revolving loan 

funds, risk-sharing loans, and loan guarantees. 

Description of Performance: 

The primary performance measures of the CMF are the number of affordable housing units for 

which CMF funding was a source of financing, and the degree to which private funding sources 

were leveraged by CMF financing. Data on affordable housing units are included in performance 

table 2.1.1. 

Based on award recipients’ projections, the FY 2020 round of the CMF will leverage an 

estimated $5.3 billion in public and private investment. The award recipients plan to develop 

more than 23,000 affordable housing units, including nearly 20,300 rental units and more than 

2,600 homeownership units. Of these: 

• 97 percent of all housing units will be developed for low-income families (80 percent of the 

area median income or below). 
CDFI – 20 

• 98 percent of the homeownership units will be developed for low-income families (80 percent 

of the area median income or below). 

• 61 percent of the rental units will be developed for very low-income and extremely low-income 

families (50 percent of the area median income or below). 

2.1.9 – CDFI Bond Guarantee Program Resource Detail Table 

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Obligations $265,000 $245,000 $150,000 $150,000 $100,000 $500,000 $500,000 

Loan Limitation Obligation 

Authority $750,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 

2.1.10 – CDF Bond Guarantee Program Financing Account – Non-Budgetary Summary 

Dollars in Thousands

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Resource Level Actual Actual Actual Actual Actual Operating 

Plan Request 

Obligations $265,000 $245,000 $150,000 $150,000 $100,000 $500,000 $500,000 

Collections* 9,377 $19,789 $34,337 $51,493 $61,621 $79,473 $97,396 

*Includes the principal and interest repayments and a 10 basis point fee for administrative expenses pursuant to Section 1134 of the Small 

Business Jobs Act of 2010. These amounts assume a zero subsidy rate with bond loan disbursement of $230 million and $305 million in FY 2021 

and FY 2022, respectively. 

 

2I. – CDFI Bond Guarantee Program Budget and Performance 

Through the BG Program, Treasury provides a 100 percent guarantee of bonds (including 

principal, interest, and call premiums) issued by Qualified Issuers. Bonds issued through the 

program support CDFI lending and investment activity in underserved communities by providing 

a source of long-term capital. Qualified Issuers use bond proceeds to finance loans to eligible 

CDFIs for community and economic development purposes. 

Since the inception of the program, the total amount of bonds guaranteed is $1.692 billion. A 

total of 26 Eligible CDFIs and three Qualified Issuers participate in the BG Program. Upon the 

closing of each bond, the eligible CDFIs have five years to lend or disburse the bond proceeds. 
CDFI – 21 

The table below provides the year-to-date (FYE) and proposed disbursement for the top eight 

asset classes:

C – Changes in Performance Measures 

In FY 2021, the CDFI Fund worked with OSPPI and the OPB to make improvements and 

changes to existing performance measures and to develop new measures for new programs in FY 

2022. The table below details the proposed changes to existing measures. In addition, the CDFI 

Fund is working with OSSPI and OPB to develop a performance measure for the Small Dollar 

Loan Program. 

Performance Measure or Indicator Proposed Change and Justification 

1. Performance Measure: Bank Enterprise 

Award Program (BEA) leverage ratio is the 

dollar sum of all award recipients’ qualified 

activities to the dollar sum of all awards in a 

given year. 

The Bank Enterprise Award Program 

performance measure is recommended for 

replacement. The current metric measures the 

BEA-Increase in Community Development 

Activities Over Prior Year for All BEA Program 

Applicants ($ million) which was based on all 

applicant data. The variability of annual reported 

activity was volatile and hence unstable to 

forecast a reliable target based on applicants’ 

baseline forecasts. The new measure will 

establish a baseline from which to compute a 

target threshold for the leverage ratio that must 

be met or exceeded by the program’s annual 

eligible activities. 

2. Indicator Name: The Number of new 

Healthy Food Financing Initiative 

(HFFI) Retail Outlets 

The HFFI performance measure is 

recommended to be converted to an indicator 

because the variability of investments in new 

retail HFFI outlets makes it difficult to forecast 
CDFI – 22 

an annual target. The current measure reports the 

number of new healthy food retail stores created 

or maintained in low-income areas that have 

been identified by the USDA as having lowincome and limited access to healthy food 

options. 

3. Indicator Name: The All‐Affordable 

Housing measure 

The All‐Affordable Housing measure tabulates 

the number of affordable housing units 

developed or produced as reported by CMF, 

CDFI and NACA programs and NMTC 

Allocations award recipients. The measure is 

recommended for conversion to an indicator 

because the variability in investments made 

annually by the three programs that fund 

affordable housing units has made it difficult to 

reliably project a target. 
CDFI – 23 

D– Evidence-Building Activity 

The table below describes the CDFI Fund’s major evidence-building activities and corresponding 

resources. Additionally, refer to the Executive Summary for a discussion of Treasury-wide evidencebuilding functions. 

Type of Evidence 

Building Activity 

Major Activities and Planned 

Projects

Resource Types Use 

Evaluation 

Collection and 

analysis of data to 

assess effectiveness 

and efficiency of 

programs, policies, or 

procedures

Estimated share of all 

Evidence-Building 

Activities: 

 10 %

Major activities: 

 Use of ARM framework to 

conduct certification and 

award application data 

evaluation, post-award 

compliance, and reporting 

risks 

 FS&R: 2 FTEs, series 

1101, 

 CCME: 4 FTEs, series 

1160, 

 CDFI/NACA: 4 

FTEs, series 1101, 

1160 

 IT support: 1 FTE, 

series 2210 

 ARM Contract IT 

Services Task Order: 

o FY21: $ TBD 

 IAA with GSA OES: 

TBD 

☒ For internal 

policy decisionmaking 

☒ During internal 

strategic 

management 

processes 

☒ By external 

partners 

(government) 

☐ By external 

partners (nongovernment) 

☐ By unaffiliated 

external 

researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 Rapid Response Program 

evaluation 

Research 

Modeling or other 

systematic use of data 

to explore emerging 

issues or potential 

scenarios to generate 

new knowledge

Estimated share of all 

Evidence-Building 

Activities: 

 10 %

Major activities: 

 PPC research with MITRE 

 MITRE task order 

 FS&R: 2 FTEs, series 

1101 

 FS&R: 2 FTEs, series 

1101, 

 CDFI 25 Years 

Contract: est. @ 

$500K 

 CDFI Minority 

Impact contract: est. 

@ $200K 

☒ For internal 

policy decisionmaking 

☒ During internal 

strategic 

management 

processes 

☒ By external 

partners 

(government) 

☐ By external 

partners (nongovernment) 

☐ By unaffiliated 

external 

researchers 

☐ Other (describe) 

Tentative FY22 projects: 

 25 Years and Counting: An 

Examination of Growth and 

Self-Sufficiency in the 

Community Development 

Financial Institutions (CDFI) 

Industry 

 CDFI Sector’s Impact on 

Underserved Racial and 

Minority Communities and 

Inequality 

Analysis 

Routine and frequent 

use of data that 

produces insights for 

decision making and 

program management

Major activities: 

 Certification, Compliance and 

Performance data collection 

and reporting: ACR, NMTC, 

CDFI, CMF, BEA 

 FS&R: 4 FTEs, series 

1101 

 CCME: 4 FTEs, 

series 1160 

☒ For internal 

policy decisionmaking 

☒ During internal 

strategic 
CDFI – 24 

Type of Evidence 

Building Activity 

Major Activities and Planned 

Projects

Resource Types Use 

Estimated share of all 

Evidence-Building 

Activities: 

 75 %

FY22 projects: 

 ARM framework: Scope 

possible changes to the: 

Certification Assessment Tool 

(CAT) due to deployment of 

new certification application, 

the Non-Compliance 

Scorecard, (NCS), and the 

Application Assessment Tool 

(AAT). Additional will be 

based on need and budget 

availability. 

 BEA: 4 FTEs, series 

1160 

 IT support: 2 FTEs, 

series 2210 

 Data Collection IT 

TOs: 

o FY21: $650,000 

o FY22: $ TBD 

 FS&R: 2 FTEs, series 

1101 

 CCME: 4 FTEs, 

series 1160 

 CDFI/NACA: 4 

FTEs, series 1101, 

1160 

 IT support: 1 FTE, 

series 2210 

 ARM IT TO: 

o FY22: $ TBD 

management 

processes 

☒ By external 

partners 

(government) 

☐ By external 

partners (nongovernment) 

☐ By unaffiliated 

external 

researchers 

☐ Other (describe) 

Statistics 

Collection, 

compilation, and 

processing of data for 

describing or 

estimating 

characteristics or 

insights concerning 

groups

Estimated share of all 

Evidence-Building 

Activities: 

 5 %

Major activities: 

 InfoUSA or comparable 

database to replace Business 

Analyst for ESRI. 

 STATA software concurrent 

licenses for 5-7 staff. 

 Procurement est.: @ 

$10K 

 Procurement est.: 

$10-12K 

 Hire 1 FS&R FTE 

series 1101 to 

manage Census data 

and CIMS updates. 

☒ For internal 

policy decisionmaking 

☒ During internal 

strategic 

management 

processes 

☒ By external 

partners 

(government) 

☒ By external 

partners (nongovernment) 

☒ By unaffiliated 

external 

researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 Decennial Census data update 

of all CDFI Fund program 

eligibility requirements. 

 CIMS Mapping System update 
CDFI – 25 

Section III – Additional Information 

A – Summary of Capital Investments 

As part of its FY 2022 capital investment strategy, the CDFI Fund plans to spend approximately 

$8.64 million for enhancements, operations, and maintenance of its IT infrastructure. The CDFI Fund 

has no major IT investments, nor any capital investments other than IT. 

Non-Major IT Investments: 

For FY 2022, the CDFI Fund has identified two non-major IT investments: AMIS and the CDFI Fund 

public website. AMIS is an enterprise-wide commercial, cloud-based solution that supports CDFI 

Fund certification, tax credit allocation, bond guarantee, and all grant programs. The CDFI Fund 

public website, another cloud-based solution, provides access to general information about the CDFI 

Fund and is used to ensure the public can obtain information and guidance regarding CDFI Fund 

programs. In FY 2022, the CDFI Fund plans to provide Operations and Maintenance (O&M) support 

for these two investments, as well as enhancements to AMIS. O&M includes system updates, help 

desk support, and software licenses. AMIS enhancements include annual program updates and 

improvements to program compliance monitoring and reporting. 

A summary of capital investments, including major information technology and non-technology 

investments, can be accessed at: 

https://www.treasury.gov/about/budget-performance/Pages/summary-of-capital-investments.aspx.