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News August 3, 2021

Support the proposed Community Revitalization Fund (CRF)

Topic General

We urge you to add your organization to a sign on letter in support of the Biden-Harris Administration’s proposed Community Revitalization Fund (CRF). The deadline to sign on is this Friday, August 6.

CRF 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. We believe CRF can accelerate the impact of various affordable housing and community development funding streams by dedicating flexible capital to fund the connective tissue between people, places, and projects. The letter urges Congress to enact CRF and recommends that the program be structured with the following core program elements:

  • HUD should competitively award CRF resources to CDFIs among eligible entities.
  • CRF 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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