[CircleUp] FW: CDFI Coalition E-news: FY 2010 Appropriations Bill Passed

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From: CDFI Coalition [mailto:info at cdfi.org] 
Subject: CDFI Coalition E-news: FY 2010 Appropriations Bill Passed

 




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·         In This Issue:

·         FY 2010 Appropriations Bill Passed 

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E-Newsletter                                                                               December 14, 2009

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FY 2010 Appropriations Bill Passed


This is a follow up to our note on the CDFI funding passed by the House last Thursday in a roughly $450 billion omnibus Appropriations bill by a vote of 221-202.  Over the weekend the Senate approved the measure 57-35. The omnibus funds six major spending bills - approximately $64 billion for Commerce, Justice and Science; $68 billion for Transportation, Housing and Urban Development; $24 billion for Financial Services; $163 billion for Labor, Health and Human Services and Education; $78 billion for Military Construction and Veterans Affairs; and $48 billion for State and Foreign Operations. 

The one remaining spending measure is the Defense Appropriations bill and the House is gearing up to act on that once it determines which other "must pass" legislative priorities would hitch a ride on the bill. Leaders in the House and Senate have indicated that provisions to raise the debt ceiling by $1.9 trillion, grant six-month extension of unemployment insurance and COBRA health benefits, and measures designed to spur job creation are all likely additions to the outstanding appropriations bill. 

A chart listing FY10 funding levels for community and economic development programs of interest to CDFIs is attached here <http://org2.democracyinaction.org/dia/track.jsp?v=2&c=ZFWxcNu5GXHRgv0WhR7l1XRYugSPnhs7>  along with FY09 appropriations as comparison.  After a wave of cash infusions from the Recovery Act funds, many programs received level funding with FY09, a few saw cuts and several programs had their first significant funding increase including the Community Development Financial Institutions (CDFI) Fund at Treasury which received $246.75 million for FY10 up from $107 million in FY09, the Self Help Opportunities Program which received $82 million up from $64 million in FY09, and the Fair Housing Initiatives Program at HUD funded at $42.5 million in FY10 up from $27.5 million last year. 

The CDFI appropriations bill included the language waiving the matching funds requirement, as well as the  three-year $5 million award cap.  Upon President Obama's signing the legislation, the CDFI Fund will drop  any review of matching funds in the FY 2010 application.   
 

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CDFI Coalition
www.cdfi.org <http://org2.democracyinaction.org/dia/track.jsp?v=2&c=R6DXnkGrt%2BBWdAreF7MsB3RYugSPnhs7> 
email: info at cdfi.org
phone: 202-393-5225

The CDFI Coalition is the unified national voice of community development financial institutions. Our mission is to encourage fair access to financial resources for America's underserved people and communities.


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