Sign Up For Novogradac Industry Alert Emails

CDFI Fund Opens FY 2024 Round for Capital Magnet Fund

Wednesday, February 14, 2024 - 9:24AM

The Community Development Financial Institutions (CDFI) Fund today announced the opening of the fiscal year 2024 funding round for the Capital Magnet Fund (CMF). Through the CMF, the CDFI Fund provides funding to CDFIs and qualified nonprofit housing organizations to finance affordable housing and related economic development and community service facilities. The CDFI Fund plans to make approximately $246.5 million in awards through this round. The deadline to submit the CMF application materials is April 16 and the CDFI Fund will stop taking questions about the application at 5 p.m. ET April 12. There is a March 14 deadline for organizations to submit the required SF-424 form through grants.gov, to create an account in the CDFI Fund’s Awards Management Information System (AMIS) and to submit their Title VI Compliance Worksheet.

The CDFI Fund will host four live webinars about the FY 2024 CMF application and the application will be the focus of a Tax Credit Tuesday podcast episode.

Learn more about Novogradac's expertise and many services