Fiscal Year 2023 Capital Magnet Fund Program

The summary for the Fiscal Year 2023 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 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 2023 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 health care 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 2023 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-2023-CMF
Type of Funding: Grant
CFDA Numbers: 21.011
CFDA Descriptions: Information not provided
Current Application Deadline: February 23rd, 2023
Original Application Deadline: February 23rd, 2023
Posted Date: January 18th, 2023
Creation Date: January 18th, 2023
Archive Date: March 25th, 2023
Total Program Funding: $320,600,000
Maximum Federal Grant Award: $48,090,000
Minimum Federal Grant Award: $500,000
Expected Number of Awards: 55
Cost Sharing or Matching: No
Last Updated: January 12th, 2023
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 (CMF)
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Fiscal Year 2016 Capital Magnet Fund Program
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Fiscal Year 2022 CDFI Program is not endorsed by, or affiliated with, any government agency. Copyright ©2007-2023