Capital Magnet Fund



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U.S. Treasury Announces Over $120 Million in Awards for Affordable Housing

March 16, 2018

The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) awarded 40 organizations $120 million today for the development of affordable housing and related economic development activities in low-income communities. These awards were made through the fiscal year (FY) 2017 round of the Capital Magnet Fund, with funds available from the calendar year 2016 government-sponsored enterprises' allocations, 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 workforce development centers, day care centers, and health care clinics. The Capital Magnet Fund was established through the HERA Act of 2008. This announcement follows a long evaluation and award process that has now been completed.

The awardees include 25 certified Community Development Financial Institutions and 15 non-profit housing organizations. They will collectively serve 40 states and the District of Columbia. The CDFI Fund selected the awardees after completing a merit-based competitive review of eligible applications submitted from 120 organizations that had requested nearly $540 million for investments in affordable housing.

Jul 24, 2015

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 Related Materials



FY 2017 Capital Magnet Fund Application Evaluation Process Capital Magnet Fund Program Application Evaluation Process_3-14-2018.pdfFY 2017 Capital Magnet Fund Application Evaluation Process20182018-03-16T04:00:00Z1740
FY 2017 Capital Magnet Fund Award Book 2017 CMF Award Book 031418.pdfFY 2017 Capital Magnet Fund Award Book20182018-03-16T04:00:00Z1743

 Past Awards



FY 2016 Capital Magnet Fund Application Evaluation Process Capital Magnet Fund Program Application Evaluation Process_9-13-2016.pdfFY 2016 Capital Magnet Fund Application Evaluation Process2016Capital Magnet Fund;#
FY 2016 Capital Magnet Fund Award Book 2016 CMF Award Book 091916.pdfFY 2016 Capital Magnet Fund Award Book2016Capital Magnet Fund;#
2010 Capital Magnet Fund Award Booklet Capital Magnet Fund Award Booklet2010Capital Magnet Fund;#

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