The Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded Impact Development Fund $3.7 million under the Community Development Financial Institutions Fund Equitable Recovery Program (CDFI ERP, CFDA #21.033) from April 2023 through December 2028. The CDFI ERP provides grants to Community Development Financial Institutions (CDFIs) to expand lending, grant making, and investment activities in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. As a prime recipient, Impact Development Fund will use the funding to increase affordable rental and homeownership housing as well as promote economic revitalization in underserved areas of Colorado. The organization may also make competitive subawards to other CDFIs and nonprofit housing groups to further the CDFI ERP's goals of responding to pandemic impacts and building grantee capacity. The award thereby aims to leverage private capital and empower local partners in assisting low-income individuals and communities still recovering from COVID-19.
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