The Treasury Department last week issued a revised application process for the Community Development Financial Institutions Fund that removes climate-focused financing and amends race-based considerations in the determination of funding eligibility.
According to a notice published in the Federal Register, the amendments to the application process were made to promote consistency with recent court decisions regarding race-based preferences and reflect the Trump administration’s priorities. The Treasury Department also revised the definition of “healthy foods” in the section regarding funding for food assistance programs to reflect the priorities of the Make America Healthy Again campaign.
Institutions that have already submitted an application will not need to withdraw or reapply. Instead, the CDFI Fund will provide applicants who have advanced to step four in the scoring/evaluation process the opportunity to update their applications based on the amendments. Applicants have until Oct. 27 to revise their applications.
