CDFI Fund to Publish Notice Opening FY 2020 Capital Magnet Fund Round; Up to $173.8 Million in Grants Available

Thursday, May 28, 2020 - 10:00am

The Community Development Financial Institutions (CDFI) Fund will publish in Friday’s Federal Register a notice opening the fiscal year 2020 round for the Capital Magnet Fund (CMF). Through the CMF, the CDFI Fund will award up to $173.8 million in grants to CDFIs and nonprofit organizations to finance affordable housing and related economic development and community service facilities. Recipients are required to leverage private and public funds that yield a minimum ratio of 10-to-1. The deadline to submit the SF-424 form through Grants.gov is June 26 at 11:59 p.m. ET and the deadline to submit CMF application materials through the CDFI Fund’s Award Management Information System is July 27 at 5 p.m. ET.

Would you be interested in attending a CMF application webinar if Novogradac presented one? Let us know here.