Capital Magnet Fund FY 2016 Funding Round Opens
The Community Development Financial Institutions (CDFI) Fund today opened the fiscal year (FY) 2016 funding round for the Capital Magnet Fund. The Capital Magnet Fund is a competitive grant program through which CDFIs and qualified nonprofit housing organizations receive awards to finance affordable housing and economic development activities in underserved areas. The CDFI Fund estimates that about $80 million will be available through the Capital Magnet Fund’s FY 2016 round. The deadline to apply is March 16 for submissions through Grants.gov or March 30 for submissions through the CDFI Fund’s Award Management Information System (AMIS).