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IFF reports Ottawa County fund deployment, flags short-term CDFI uncertainty
Summary
Chris, an IFF representative, told the Ottawa County Housing Policy Commission that a recent executive order briefly raised concern about the federal CDFI Fund but Treasury comments eased immediate risk.
Chris, an IFF representative, told the Ottawa County Housing Policy Commission that a recent executive order briefly raised concerns about funding for community development financial institutions but that Treasury remarks helped calm immediate uncertainty. "IFF is a community development financial institution," he said, describing the role of the federal CDFI Fund and IFF's relationship to it.
Why it matters: IFF said it has already deployed most county-provided capital and is seeing rising project demand in Ottawa County. County funds paired with IFF's balance sheet and other partners are being used to lower loan rates and expand affordable housing development in the region.
At the meeting, Chris said the CDFI Fund often receives about $300,000,000 annually and that an executive order earlier in the month…
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