Overview of the Community Development Financial Institutions Fund
The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994, as a bipartisan initiative.
Advantages of CDFI Approach
- Low interest rates
- Banks handle administration of program
- Focuses on low to middle income communities
- Port St. Lucie model which uses PACE delivery method is presently held up by concerns raised by Fannie, Freddie, and FHFA.