Whether a community needs capital
for small businesses, fixed-rate financing for affordable
housing, or improvements to local roads or schools,
members can turn to the Federal Home Loan Bank of Boston's
Community Development advances.
The Federal Home Loan Bank of Boston offers members two separate options to help support community development activities: CDA Extra and CDA.
CDA Extra is a deeply discounted advance that supports:
- Affordable housing initiatives serving households at or below 115 percent of the area median income.
- Economic development or mixed-use initiatives serving households at or below 80 percent of the area median income.
CDA offers discounted advances to supports a variety of economic development and mixed use initiatives including loans for small businesses, social-service or public-facility initiatives, and infrastructure improvements. These advances can also be used to support commercial, industrial, and manufacturing initiatives:
- Initiatives benefitting households with incomes at or below 115 percent of AMI for a rural initiative or 100 percent of AMI for an urban initiative for a family of four based on the income guidelines as published annually by HUD.
- Initiatives located in a census tract at or below 115 percent of AMI for a rural initiative or 100 percent of AMI for an urban initiative.
For more information about the CDA Extra and CDA application process, please contact your community investment manager or relationship manager.
CDA Update: The CDA update provides an outline of the new application reporting requirements for the Community Development Advance programs.
CDA Technical Assistance Training
This presentation provides an overview of the CDA Extra and CDA programs, the application process, eligibility parameters, and reporting requirements.