CDFI Fund Seeks Feedback on Capital Magnet Fund

Thursday, July 6, 2023 - 11:15AM

The Community Development Financial Institutions (CDFI) Fund will publish a notice in Friday’s Federal Register seeking comments on the Capital Magnet Fund (CMF). The notice seeks feedback on how the CDFI Fund can enhance and improve the CMF, streamline or minimize the administrative burden on applicants, and safeguard public funds. Comments must be received on or before Sept. 5. CMF awards go to CDFIs and nonprofit organizations for the development, preservation, rehabilitation and purchase of affordable housing for extremely low, very low and low-income families or for economic development activities in conjunction with affordable housing activities that implement a strategy to stabilize or revitalize a low-income or underserved rural area.

The CMF and other funding sources for affordable housing will be a topic at the Novogradac 2023 Housing Tax Credit and Bonds Conference, Sept. 28-29 in New Orleans.

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