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Funding Opportunity: Border Community Capital Initiative (BCCI) NOFA Submission Deadline Date - August 26, 2013

    
U.S. Department of Housing and Urban Development
Office of Rural Housing and Economic Development
Funding Opportunity 
 
Border Community Capital Initiative (BCCI) 
 
For more information about the BCCI, call HUD’s Office of Rural Housing and Economic Development at 1-877-787-2526 or (202) 708-2290 or send an email to BCCI@hud.gov.

The BCCI Notice of Funding Availability (NOFA) is published at Grants.gov. The submission deadline date is August 26, 2013. Up to $2 million remains available and committed for this NOFA.   

Program Description
 
The Border Community Capital Initiative ("Border Initiative") is a collaborative effort among three federal agencies - the Department of Housing and Urban Development (HUD), the Department of the Treasury - Community Development Financial Institutions Fund (CDFI Fund) and the Department of Agriculture - Rural Development (USDA-RD). 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.
 
Program Specifics
 
Categories: Under the BCCI, HUD will award up to $2,000,000 on a competitive basis in two funding categories: Category I - Single Applicant and Category II - Consortium. Applicants applying for Category I must be a local rural non-profit or a Federally Recognized Indian tribe. Organizations applying for Category II must apply as a consortium with one organization acting as the lead applicant and taking responsibility for administrating the HUD funding. Organizations cannot apply both independently and as part of a consortium. If HUD receives an independent application from an organization that is also part of a consortium, the independent application will be considered ineligible.

Eligible applicants: 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 at the time of application. If applicants propose to become certified as a CDFI, they should lay out milestones and timeframes toward the CDFI certification process in their application. Applicants may serve other markets than colonias residents and communities, using other sources of financing.
 

 
            
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