Border Community Capital Initiative
The Initiative?s goal is to increase access to capital for affordable housing, business lending and community facilities in the chronically underserved and undercapitalized U.S./Mexico border region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions that focus on affordable housing, small business and community facilities to benefit the residents of colonias. Funds may be used to support eligible activities that serve the following objectives: ? Expanding services in eligible colonias target markets by established lenders and investors in affordable housing, small business, and community facilities, and/or ? Securing new public or private capital sources for lending or investing in affordable housing, small business and community facilities in existing or new eligible target markets.
General information about this opportunity
Last Known Status
Assistant Secretary For Community Planning and Development, Department of Housing and Urban Development
Type(s) of Assistance Offered
B - Project Grants
Fiscal Year 2016
No budget funds are projected for FY2016 During the project year $56,848 was spent on program activities.Fiscal Year 2018
0Fiscal Year 2017
Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1999, Public Law 105-276
Who is eligible to apply/benefit from this assistance?
Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations or federally recognized tribes. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. Applicants may serve other markets than colonias residents and communities, using other sources of financing.
Eligible target markets for use of Border Initiative funds include geographic areas defined as colonias by The Cranston-Gonzalez National Afford Housing Act of 1990 (Pub. L. 101-625, Nov. 28, 1990) (the Act) and the Appropriations Act of 1997 (Pub L. 104-204, Sept. 26, 1996, 110 Stat. 2887).
What is the process for applying and being award this assistance?
Preapplication coordination is not applicable.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. This initiative was funded by recaptured Rural Housing and Economic Development funds for a one time only competition.
HUD will review eligible submitted applications and determine application scores. Once rating scores are assigned, rated applications will be listed in ranked order. HUD will send written notifications to both successful and unsuccessful applicants, including the lead entity of the consortium. After award, grantees will submit their action plan and budget into HUD's web based system prior to approval to draw down. Applicants will be given the opportunity to amend their budget according to the grant award, in the event HUD awards less than the requested amount prior to entering into the grant agreement. HUD will approve the action plan(s) or notify the grantee of matters that need to be addressed prior to approval.
June 27, 2013 to August 26, 2013
Approval/Disapproval Decision Time
From 30 to 60 days.
How are proposals selected?
Two types of reviews will be conducted. First, HUD will review each application to determine whether it meets threshold eligibility requirements described in Section III.B.4. Second, HUD will review and assign scores to applications meeting the threshold requirements using the Factors for Award noted under Criteria, Section V.A of the BCCI NOFA. Once rating scores are assigned, rated applications will be listed in ranked order. After HUD has rated and ranked the applications, applicants within the fundable range of 75 or more points will be funded in ranked order up to the amount requested, or in a lesser amount if sufficient funds are not available. HUD reserves the right to reduce the amount of the award requested. HUD has determined that geographic diversity of coverage within the U.S.-Mexico border region is an appropriate consideration in selecting grantees in this competition.
How may assistance be used?
Eligible activities include innovative housing and economic development uses, including but not limited to loan or investment capital, loan loss reserves, program staff costs, information systems, market studies, portfolio analyses and business planning. Eligible activities must support the program objectives described above.
What are the requirements after being awarded this opportunity?
Please see the BCCI NOFA published in FY2013 for full reporting requirements.
Applicants must maintain records to satisfy the reporting requirements listed above and in the BCCI NOFA.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
Awards will be available for a period of 36 months from the date of execution of the grant agreement. Method of awarding/releasing assistance: Letter.
Who do I contact about this opportunity?
Regional or Local Office
Office of Rural Housing and Economic Development
U.S. Department of Housing and Urban Development
451 7th Street SW, Room 7137
Washington DC, DC 20410 US
(Project Grants) FY 17 est $0.00; FY 18 est $0.00; FY 16$0.00; - This is a one time program using recaptured money from the RHED program.
Range and Average of Financial Assistance
Up to $2,000,000
Regulations, Guidelines and Literature
Examples of Funded Projects