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Fiscal Year 2024 Capital Magnet Fund Program
The CDFI Fund awards Capital Magnet Fund grants to certified Community Development Financial Institutions (CDFIs) and certain nonprofit organizations to finance:
(1) the development, preservation, rehabilitation, or purchase of affordable housing for primarily extremely low-, very low-, and low-income families; and (2) economic development activities or community service facilities, such as day care centers, workforce development centers, and health care clinics, which in conjunction with affordable housing activities implement a concerted strategy to stabilize or revitalize a low-income area or underserved rural area.
CMF's award ceiling is 15% of Total Program Funding.
Additional details on Application requirements are available on the CDFI Fund’s website.
(1) the development, preservation, rehabilitation, or purchase of affordable housing for primarily extremely low-, very low-, and low-income families; and (2) economic development activities or community service facilities, such as day care centers, workforce development centers, and health care clinics, which in conjunction with affordable housing activities implement a concerted strategy to stabilize or revitalize a low-income area or underserved rural area.
CMF's award ceiling is 15% of Total Program Funding.
Additional details on Application requirements are available on the CDFI Fund’s website.
Agency: Department of the Treasury
Office: Community Development Financial Institutions
Estimated Funding: $246,500,000
Office: Community Development Financial Institutions
Estimated Funding: $246,500,000
Obtain Full Opportunity Text:
A webpage on the CDFI Fund's website with all the relevant details regarding the Capital Magnet Fund Program.
Additional Information of Eligibility:
Applicants must be (1) a Treasury certified CDFI; or (2) a nonprofit organization having as one of its principal purposes the development or management of affordable housing.
An applicant must provide information necessary to establish that it is an eligible organization in order to apply for assistance.
This information is included as part of the application materials.
Full Opportunity Web Address:
https://www.cdfifund.gov/programs-training/programs/cmf/apply-step#application-materials
Contact:
Agency Email Description:
CDFI Fund Help Desk (CMF)
Agency Email:
Date Posted:
2024-02-13
Application Due Date:
Archive Date:
2024-04-13
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