BUILDING COMMUNITY
WHO WE ARE
The San Francisco Community Investment Fund (SFCIF) is a not-for-profit financial institution that uses New Market Tax Credits (NMTCs) to help fund projects with substantial and sustainable community benefits in low-income SF neighborhoods. A legally-separate entity from the City and County of San Francisco, SFCIF is a certified Community Development Entity (CDE) under the Federal Department of Treasury’s New Market Tax Credit (NMTC) Program.
In 2010, the City’s former Redevelopment Agency established the San Francisco Community Investment Fund (SFCIF) to make qualified low-income community investments in the City. This program targets construction and capital improvement projects in low-income neighborhoods that deliver strong community outcomes, including job creation for low-income people, commercial and community services, healthy foods, environment sustainability, and flexible lease rates.
The New Markets Tax Credit program creates a pathway for local businesses and non-profits to activate underutilized buildings in San Francisco’s most high-need neighborhoods, create local jobs, and provide lasting community services.
OUR MISSION
The mission of the San Francisco Community Investment Fund (“SFCIF”) is to make Qualified Low-Income Community investments in the City and County of San Francisco (the "Service Area") or other financial activities which qualify for the New Markets Tax Credits. The SFCIF applies for a New Markets Tax Credits allocation from the Community Development Financial Institutions Fund, a branch of the United States Department of the Treasury. If awarded, the SFCIF will use allocation to raise capital for qualified investment projects by selling the tax credits to investors. Projects receiving allocation from SFCIF must be located in the City and County of San Francisco and meet the eligibility requirements for New Market Tax Credits. At least 60% of the SFCIF’s products and services shall be directed to Low-Income Persons; to individuals, businesses or organizations located in Low-Income Communities; or to other organizations that serve Low-Income Persons or residents of Low-Income Communities. The following are examples of activities that will be included in satisfying the 60% threshold:
Investing in, lending to or providing technical assistance to businesses that are located in Low-Income Communities and/or are owned by Low-Income Persons
Lending to Low-Income Persons or residents of Low-Income Communities
Investing in or providing loans to qualified commercial properties and businesses that are located in Low-Income Communities, or
Investing in, lending to or providing technical assistance to organizations (e.g., CDEs or CDFIs) engaged in activities that promote community development in Low-Income Communities or for the benefit of Low-Income Persons.