August 11, 2021

Community Revitalization Fund

Olivia Barrow

The Low Income Investment Fund (LIIF) and many others have played a significant role in lobbying for Community Development Funding Institutions as the distributors of an upcoming HUD $10 billion non -housing community investment.

A Message From The Editor

Good afternoon.  

The Low Income Investment Fund (LIIF) and many others have played a significant role in lobbying for Community Development Funding Institutions as the distributors of an upcoming HUD $10 billion non -housing community investment. They have also agreed to include language in the petition that those same CDFIs and funding institutions invest significantly via advertising and information dissemination utilizing local BIPOC Publishers. For African American media organizations the impact of such an investment could be tremendous. 

Read below to learn more and we encourage you to sign and share with your networks.

From:

Olivia Barrow

Policy Manager

obarrow@liifund.org

202.677.4282 Ext 282

We urge you to add your organization to a sign on letter in support of the Biden-Harris administration’s proposed Community Revitalization Fund. The deadline to sign on is this Friday, August 13.

The Community Revitalization Fund would be a new grant program administered by HUD to invest in community assets that build wealth for existing residents, increase community engagement, and strengthen civic infrastructure. The Community Revitalization Fund could accelerate impactful investments in communities by dedicating flexible capital to fund the connective tissue between people, places, and projects. 

The community media infrastructure–particularly local BIPOC publishers who serve as critical connectors and conveners for communities that are low wealth, of color, or immigrant–are a critical element of our nation’s civic infrastructure and will be important partners in support of the Community Revitalization Fund.

The letter urges Congress to enact the Community Revitalization Fund and recommends that the program be structured with the following core program elements:

  • HUD should competitively award Community Revitalization Fund resources to Community Development Financial Institutions (CDFIs) among eligible entities.
  • Community Revitalization Fund resources should finance non-housing community assets that are in proximity to affordable housing.
  • Funds should be flexible to account for the time and resources necessary to engage in truly equitable development efforts.

You can read the letter here and sign on here.

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