Contact- Salli Martyniak
FCI is the recipient of a $1,016,500 Financial Assistance Award from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). FCI will use its award to leverage other investor dollars and increase its volume of lending for affordable workforce housing development across Wisconsin.
FCI was one of six CDFIs in WI to receive an award from the CDFI Fund and one of 298 awards received across the US. In addition to FCI, the WI-based CDFIs included CoVantage Credit Union, First American Capital Corporation, Habitat for Humanity of Dane County, Wisconsin Native Loan Fund and Wisconsin Women’s Business Initiative Corporation.
According to CDFI Fund Director Annie Donovan, “We are very pleased to announce the FY 2017 CDFI Program and Native Initiatives award recipients. This is the largest pool of awardees in the history of the CDFI Fund. These award recipients represent a diverse array of organization types and community investment strategies, serving a broad spectrum of communities.”
In its 23-year history, FCI has been the recipient of multiple CDFI Fund awards, including three back-to-back New Market Tax Credit allocations totaling $75 million. FCI’s president, Salli Martyniak, said, “FCI was thrilled to be selected as one of only 298 CDFIs receiving an award from the CDFI Fund. This award comes at a time when the inventory of quality affordable housing is at an all-time low and working families are challenged with finding adequate housing at affordable rates. The plan is to use the award to leverage additional dollars and increase our capacity to lend to affordable housing projects across the state.”
To view the FY 2017 CDFI Program award book, click here.
About FCI: Forward Community Investments (FCI) is a lender, connector and advisor for mission-driven organizations and initiatives that address racial inequities and socioeconomic disparities throughout Wisconsin. In its capacity as a statewide CDFI, FCI infuses loan capital into economically underserved communities and neighborhoods. To date, FCI has invested almost $100 million into Wisconsin-based affordable housing projects and community facilities. For more info about the FCI please visit their website at www.forwardci.org.
About the CDFI Fund: The CDFI Fund, part of the U.S. Department of the Treasury, plays a unique and important role in generating economic growth in America. Since its inception in 1994, the CDFI Fund has built a nation-wide network of CDFIs committed to ensuring that underserved communities have access to quality, affordable, and credible financial services. In the last 20+ years, the CDFI Fund has awarded more than $2 billion to CDFIs and allocated $50.5 billion in New Markets Tax Credits. For more info about the CDFI Fund please visit their website at www.cdfifund.gov.