Fiscal Year 2019 Capital Magnet Fund Program
The summary for the Fiscal Year 2019 Capital Magnet Fund Program grant is detailed below.
This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants.
Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact.
If any section is incomplete, please visit the website for the Community Development Financial Institutions, which is the U.S. government agency offering this grant.
Fiscal Year 2019 Capital Magnet Fund Program: The CDFI Fund awards Capital Magnet Fund grants to certified Community Development Financial Institutions (CDFIs) and certain nonprofit organizations to finance: (1) the development, preservation, rehabilitation, or purchase of affordable housing for primarily extremely low-, very low-, and low-income families; and (2) economic development activities or community service facilities, such as day care centers, workforce development centers, and healthcare clinics, which in conjunction with affordable housing activities implement a concerted strategy to stabilize or revitalize a low-income area or underserved rural area. CMF's award ceiling is 15% of Total Program Funding. Additional details on Application requirements are available on the CDFI Fund's website.
| Federal Grant Title: | Fiscal Year 2019 Capital Magnet Fund Program |
| Federal Agency Name: | Community Development Financial Institutions (USDOT-CDFI) |
| Grant Categories: | Community Development |
| Type of Opportunity: | Mandatory |
| Funding Opportunity Number: | CDFI-2019-CMF |
| Type of Funding: | Grant |
| CFDA Numbers: | 21.011 |
| CFDA Descriptions: | Information not provided |
| Current Application Deadline: | July 26th, 2019 |
| Original Application Deadline: | July 26th, 2019 |
| Posted Date: | June 25th, 2019 |
| Creation Date: | June 25th, 2019 |
| Archive Date: | July 27th, 2019 |
| Total Program Funding: | $130,883,871 |
| Maximum Federal Grant Award: | $19,600,000 |
| Minimum Federal Grant Award: | $500,000 |
| Expected Number of Awards: | 34 |
| Cost Sharing or Matching: | No |
| Last Updated: | June 24th, 2019 |
- Applicants Eligible for this Grant
- Others (see text field entitled "Additional Information on Eligibility" for clarification.)
- Additional Information on Eligibility
- Applicants must be (1) a Treasury certified CDFI; or (2) a nonprofit organization having as one of its principal purposes the development or management of affordable housing. An applicant must provide information necessary to establish that it is an eligible organization in order to apply for assistance. This information is included as part of the application materials.
- Link to Full Grant Announcement
- A webpage on the CDFI Fund's website with all the relevant details regarding the Capital Magnet Fund Program.
- Grant Announcement Contact
- CDFI Fund Help Desk
(202) 653-0421
CDFI Fund Help Desk - Similar Government Grants
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