The Buzz: Capital Magnet Fund opens first funding competition
Date Published: 04/01/2010
Author: Buzz Roberts, LISC Senior Vice President
from the April 2010 issue of Novogradac Journal of Tax Credit Housing.
Community Development Financial Institutions (CDFIs) and not-for-profi t housing organizations have until April 8 to submit applications for a slice of the fi rst $80 million under the Capital Magnet Fund (CMF). The Treasury Department’s CDFI Fund is administering the new program. The grants can be used to as seed money to attract private fi nancing for affordable housing, as well as community and economic development facilities related to housing in economically distressed areas. Applications and extensive guidance are available from the CDFI Fund at www. cdfi fund.gov.
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This article first appeared in the April 2010 issue of the Novogradac Journal of Tax Credit Housing and is reproduced here with
the permission of Novogradac & Company LLP.
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Topics: Housing, --Affordable Housing Finance & Development, --Community Development, Policy, --Housing, --Economic Development
Type: Trade Article