Community Loan Fund Of New Jersey Inc

CREDIT ENHANCEMENT FOR CHARTER SCHOOL FACILITIES PROGRAM

PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.

PURPOSE: TO ATTRACT FINANCING FOR AND INCREASE INVESTMENT IN AFFORDABLE HOUSING FOR PRIMARILY LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME PEOPLE AND FOR CERTAIN RELATED ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES. PLANNED ACTIVITIES: THROUGH COMPETITIVE GRANTS, THE CAPITAL MAGNET FUND (CMF) PROVIDES CAPITAL TO FINANCE AND SUPPORT AFFORDABLE HOUSING AND RELATED ECONOMIC DEVELOPMENT. END GOALS: EXPECTED OUTCOMES INCLUDE INCREASED PRIVATE INVESTMENT IN THE ACQUISITION, DEVELOPMENT, REHABILITATION, AND PRESERVATION OF AFFORDABLE RENTAL HOUSING AND HOMEOWNERSHIP. BENEFICIARIES: CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION; PRIVATE NONPROFIT HOUSING ORGANIZATIONS, PUBLIC NONPROFIT INSTITUTION/ORGANIZATION. LOW INCOME, VERY LOW INCOME, AND EXTREMELY LOW INCOME INDIVIDUALS AND FAMILIES AS SET FORTH IN 12 C.F.R. PART 1807, AS AMENDED. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: NOT APPLICABLE. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.

CAPITAL MAGNET FUND AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

CDFI RAPID RESPONSE PROGRAM AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING, AND MISCELLANEOUS GRANTS

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

HEALTHY FOODS FINANCING INITIATIVE AWARD

MISSION. THE MISSION OF NEW JERSEY COMMUNITY CAPITAL (NJCC) IS TO TRANSFORM COMMUNITIES THROUGH STRATEGIC INVESTMENTS OF CAPITAL AND KNOWLEDGE. CNCS PROGRAMMING PRIORITY AREA. NJCC WILL WORK WITHIN THE "ECONOMIC OPPORTUNITY" PRIORITY AREA. PROJECT DESCRIPTION. FROM THE DEEPENING TO ESCALATING PHASE. EARLIER THIS YEAR, THE BOARD OF DIRECTORS OF NEW JERSEY COMMUNITY CAPITAL ALONG WITH MANAGEMENT, STAFF AND OTHER STAKEHOLDERS COMPLETED AN INTENSIVE, BOARD-DRIVEN STRATEGIC PLANNING PROCESS THAT, WORKING FROM OUR MISSION STATEMENT AND CORE VALUES, ESTABLISHED OUR VISION FOR THE THREE-YEAR PERIOD OF 2017-19. THE THEMATIC BASIS DRIVING OUR STRATEGIC DIRECTION IS TO MOVE FROM THE "DEEPENING PHASE" (THE THEMATIC BASIS OF OUR PREVIOUSLY APPROVED STRATEGIC PLAN COVERING THE 2012-16 TIME PERIOD) -- WHERE NJCC STARTED TO EMERGE AS ONE OF NEW JERSEY'S PREDOMINANT INFLUENCERS OF COMMUNITY & ECONOMIC DEVELOPMENT -- TO THE "ESCALATING" PHASE WHERE NJCC IS NOT ONLY ONE OF NEW JERSEY'S PRIMARY ANTI-POVERTY MECHANISMS, BUT INCREMENTALLY EXPANDING THROUGHOUT NEW JERSEY AND MOVING OUR BUSINESS MODEL TO OTHER STATES & REGIONS. THE GOAL STATEMENT ASSOCIATED WITH OUR STRATEGIC PLAN: "TO EMPLOY AN EVIDENCE-BASED FRAMEWORK THAT ESTABLISHES NJCC AS THE CDFI OF CHOICE TO APPROPRIATE STAKEHOLDERS WHILE REALIZING FINANCIAL & INVESTMENT BENCHMARKS IN ORDER TO SUSTAIN & GROW STATUS AS AN INDUSTRY 'THOUGHT LEADER' IN TACTICAL COMMUNITY DEVELOPMENT". CONSISTENT WITH OUR STRATEGIC PLAN, CORE CAPACITY BUILDING PRIORITIES ASSOCIATED WITH THE VISTAS WORK ARE: * MARKETING & COMMUNICATIONS -- THE OBJECTIVE STATEMENT: "TO EMPLOY A COMPREHENSIVE BRANDING & MARKETING PLAN THAT REALIZES NJCC'S IMAGE AWARENESS AND ENHANCEMENT OBJECTIVES WITHIN OUR TARGET COMMUNITIES". * INVESTOR RETENTION & RECRUITMENT. THE OBJECTIVE STATEMENT: "TO ESTABLISH A TARGETED INVESTORS-SEEKING STRATEGY WITH PARTICULAR FOCUS IN ENSURING WE FOCUS ON THE PRIMARY IMPACT INVESTORS IN OUR MARKET WHOSE INVESTMENT INTERESTS DIRECTLY ALIGN WITH NJCC'S STRATEGIC GOALS & OBJECTIVES". * POLICY BUILDING. THE OBJECTIVE STATEMENT: "TO SUPPORT NJCC'S WORK RELATED TO IMPROVING THE POLICY ENVIRONMENT THAT RECOGNIZES THE VALUE & IMPACT OF NJCC AND OF MISSION-DRIVEN CDFIS OVERALL". NUMBER OF VISTAS AND OVERVIEW OF MAJOR ACTIVITIES. WITH THIS, NJCC REQUESTS FIVE (5) VISTAS TO BE ASSIGNED AS FOLLOWS: * ADDRESS YOURSELF (AY) -- BASED OUT OF OUR NEWARK OFFICE, ONE VISTA ASSIGNED TO AY, OUR MORTGAGE PLATFORM DESIGNED TO PROVIDE AFFORDABLE RESIDENTIAL MORTGAGES FOR LOW- TO MODERATE-INCOME (LMI) HOMEBUYERS, WITH A STRONG PREFERENCE IN TARGETING ETHNIC-MINORITY FAMILIES, INCLUDING NEW IMMIGRANTS WHO ARE LEGAL PERMANENT RESIDENTS THROUGH OUR ITIN MORTGAGE PRODUCT. * EAST TRENTON COLLABORATIVE (ETC) -- ONE VISTA TO EMPLOY A COMMUNICATIONS AND OUTREACH STRATEGY SPECIFIC TO ETC, A COMPREHENSIVE NEIGHBORHOOD REVITALIZATION STRATEGY WITH NJCC AS THE LEAD ADMINISTRATOR. THIS VISTA WILL BE PLACED IN OUR TRENTON-BASED OFFICE AND REPORT TO ETC'S PROGRAM MANAGER. * COMMUNITY ASSETS PRESERVATION CORPORATION (CAPC) -- WORKING OUT OF CAPC'S NEWARK OFFICE AND WORKING WITH CAPC'S DIRECTOR OF OPERATIONS, ONE VISTA TO DEVELOP A COMMUNICATIONS STRATEGY TO MARKET THE WORK OF CAPC ALONG WITH COMMUNICATIONS STRATEGY ASSOCIATED WITH CAPC'S TENANTS & HOMEOWNERS. * CENTRAL OFFICE -- TWO VISTAS: (1) ONE VISTA TO WORK WITH THE CHIEF EXTERNAL AFFAIRS OFFICER & THE MANAGER OF INVESTOR RELATIONS TO EMPLOY ORGANIZATION-WIDE STRATEGIES ASSOCIATED WITH INVESTOR RECRUITMENT & RETENTION; AND (2) ONE VISTA TO WORK WITH CEAO AND THE COMMUNITY STRATEGIES GROUP TO EMPLOY POLICY & SYSTEMS BUILDING STRATEGY. ESTIMATED TIME TO COMPLETE THE PROJECT. THREE YEARS.