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Capital Magnet Fund

This funding record is inactive. Please see the program website or contact the program sponsor to determine if this program is currently accepting applications or will open again in the future.

 
Catalog of Federal Domestic Assistance Number: 21.011
Sponsors
Community Development Financial Institutions Fund, U.S. Department of Treasury
Deadlines
Jun 26, 2020
Contact

CDFI Fund help desk
202.653.0421
cmf@cdfi.treas.gov

Purpose

The Capital Magnet Fund provides grants to finance affordable housing and community revitalization efforts that benefit low-income people and communities. The program's goal is to encourage community and economic development activities with the objective of revitalizing low-income communities and underserved rural areas.

Eligibility

Applicants must be either a certified Community Development Financial Institution (CDFI) or a nonprofit organization operating with a principal purpose of developing or managing affordable housing solutions.

All applicants must demonstrate that they have been in existence as a legally formed entity for at least 3 years prior to the application deadline.

Geographic coverage
Nationwide
Amount of funding

Award ceiling: $26,000,000
Award floor: $500,000
Expected number of awards: 40
Estimated total program funding: $173,800,000

Application process

A link to the announcement is available through grants.gov. The Notice of Funds Availability (NOFA) is provided on the program website.

Follow the steps to complete the application process listed in the "how to apply" section of the program website.

Important dates:

Tagged as
Capital funding · Community and economic development · Housing and homelessness · Poverty



For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.