CDFIs Gain New Support and Visibility
December 16, 2011 | From the field | Preserving Affordable Rental Housing, Impact Investments, Housing

Opportunity Finance Network's recent national conference featured announcements of new support for community development financial institutions (CDFIs). The Kresge Foundation awarded a $10 million PRI to support five years of the NEXT Awards, which were launched by MacArthur in 2007. In addition, Wells Fargo will provide $17 million in grants to support the program, bringing the total amount leveraged to date to almost $45 million. Finally, Bank of America announced the recipients of $55 million in new loans and grants it will provide to support energy efficiency financing programs led by CDFIs, most of whom previously received start-up funding from the Foundation's Window of Opportunity housing preservation initiative.