Texas Border Business
WASHINGTON – Congressman Vicente Gonzalez (TX-15) today announced that the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI) has awarded $950,000 to Affordable Homes of South Texas, Inc. in McAllen, Texas for Fiscal Year 2018. The funding will jumpstart additional affordable housing projects in South Texas communities.
“No one in the 15th District of Texas should be without a home,” Congressman Gonzalez said. “This funding from the U.S. Department of Treasury will help Affordable Homes of South Texas create new housing developments and empower families to purchase and own their own home while building equity and a patrimony for themselves and their families.”
To apply for CDFI Certification, organizations must submit an application to the CDFI Fund for review. The CDFI Certification Application must demonstrate that the applicant meets each of the following requirements:
- Is a legal entity at the time of Certification application;
- Has a primary mission of promoting community development;
- Is a financing entity;
- Primarily serves one or more target markets;
- Provides development services in conjunction with its financing activities;
- Maintains accountability to its defined target market; and
- Is a non-government entity and not under the control of any government entity (Tribal governments excluded).
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