CDFI Fund to Publish NOFA for $380.2 Million Fiscal Year 2021 CMF Round
The Community Development Financial Institutions (CDFI) Fund will publish a notice of funds availability (NOFA) for the fiscal year 2021 (FY 2021) funding round of the Capital Magnet Fund (CMF) in Friday’s Federal Register. The CDFI Fund will award up to $380.2 million in grants to CDFIs and nonprofit organizations to finance affordable housing and related economic development and community services. The award size is significantly larger than in previous rounds and the CDFI Fund will consider requests that significantly exceed the maximum awards in previous rounds. The CDFI Fund will not accept applications nor will it issue awards for less than $500,000. Applicants must create an Awards Management Information System (AMIS) account, enter and update the EIN and DUNS numbers in AMIS and submit a SF-424 mandatory form by Oct. 12. The application deadline is Nov. 9 at 5 p.m. ET and the last day to contact CMF staff is Nov. 4 at 5 p.m. ET.
How funding such as the CMF interacts with other affordable housing financing will be among the topics discussed at the Novogradac 2021 Affordable Housing Tax Credit and Bond Conference, Sept. 30-Oct. 1 in Nashville.