Capital Magnet Fund

 

 

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U.S. TREASURY ANNOUNCES $130.9 MILLION IN AWARDS FOR AFFORDABLE HOUSING NATIONWIDE

February 25, 2020

The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 38 organizations $130.9 million today for the development of affordable housing and community facilities in low-income communities.  These awards were made through the fiscal year (FY) 2019 round of the Capital Magnet Fund, and will support financing for the preservation, rehabilitation, development or purchase of affordable housing for low-income communities; as well as related economic development and community service facilities such as day care centers, workforce development centers and health care clinics.

"I am pleased to recognize the FY 2019 Capital Magnet Fund awardees,” said CDFI Fund Director Jodie Harris. “At the CDFI Fund we are committed to expanding economic opportunity for underserved people and communities. The FY 2019 Capital Magnet Fund awards will support the development of thousands of affordable homes for low-income Americans in communities across the country.”

The awardees are required to leverage their awards with other private and public investment by at least 10 to 1, guaranteeing that a minimum of $1.3 billion will be invested in eligible projects across the United States. For the FY 2019 round the awardees anticipate that almost $4 billion will be invested in total, including more than $3 billion in private investment.

The 38 awardees will collectively serve 44 states, the District of Columbia, and Puerto Rico.  7 of these awardees, or 18 percent, will invest at least half of their award dollars in Rural Areas.  Of the 38 awardees, 23 are Community Development Financial Institutions (CDFIs) and 15 are non-profit housing organizations. The 38 awardees were selected after a merit-based competitive review of applications submitted from a total of 113 organizations that requested more than $522 million from the Capital Magnet Fund for the FY 2019 round.

Jul 24, 2015

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 Related Materials

 

 

FY 2019 Capital Magnet Fund Application Review Processhttps://www.cdfifund.gov/Documents/Forms/AllItems.aspxFY 2019 CMF Appliation Review Process.pdfFY 2019 Capital Magnet Fund Application Review Process20202020-02-25T05:00:00Z2163
FY 2019 Capital Magnet Fund Award Bookhttps://www.cdfifund.gov/Documents/Forms/AllItems.aspxFINAL 2019 CMF Award Book 022020.pdfFY 2019 Capital Magnet Fund Award Book20202020-02-25T05:00:00Z2162

 Past Awards

 

 

FY 2018 Capital Magnet Fund Application Review Processhttps://www.cdfifund.gov/Documents/Forms/AllItems.aspxFY 2018 Capital Magnet Fund Application Review Process Document.pdfFY 2018 Capital Magnet Fund Application Review Process20192019-02-13T05:00:00ZCapital Magnet Fund;#
FY 2018 Capital Magnet Fund Award Bookhttps://www.cdfifund.gov/Documents/Forms/AllItems.aspxFINAL 2018 CMF Award Book 021119.pdfFY 2018 Capital Magnet Fund Award Book20192019-02-13T05:00:00ZCapital Magnet Fund;#
FY 2017 Capital Magnet Fund Application Evaluation Processhttps://www.cdfifund.gov/Documents/Forms/AllItems.aspxFY2017 Capital Magnet Fund Program Application Evaluation Process_3-14-2018.pdfFY 2017 Capital Magnet Fund Application Evaluation Process20182018-03-16T04:00:00ZCapital Magnet Fund;#

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