Fiscal Year 2016 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

credit:


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.

This field will be updated when the Total Program Funding amount is released.

Related Programs

Capital Magnet Fund

Department of the Treasury


Agency: Community Development Financial Institutions

Office:

Estimated Funding: $80,000,000





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.

This program is excluded from coverage under OMB Circular No.

A-87.

Full Opportunity Web Address:


Contact:


Agency Email Description:


Agency Email:
IThelpdesk@cdfi.treas.gov

Date Posted:
2016-02-05

Application Due Date:
2016-03-16

Archive Date:
2016-03-17




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