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.

The Border Initiative focuses on improving colonias communities and creating asset building opportunities for colonias residents by helping local financial institutions improve their capacity to raise capital, and to lend and invest it in their communities. Strengthening local community development lenders and investors will also widen the channels through which larger private institutions and federal agencies can reach potential home owners, renters, business owners, facilities operators and service providers who need their support.

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.

Beneficiaries may include: • Current low income residents of colonias •Businesses owned by or serving low income residents of colonias; •Community facilities serving colonias communities or low income colonias residents; and •Owners of rental housing serving residents of colonias.

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.

Assistance may be used for 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 ,business planning, and other activities supporting the program goals.

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

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 rank order.