CDFI Fund Opens FY20 Capital Magnet Fund Round
The CDFI Fund the fiscal year (FY) 2020 funding round for the Capital Magnet Fund. In this round, the Fund expects to provide up to $173.8 million in awards to finance affordable housing, as well as related economic development and community service facilities.
The objective is to attract private capital to economically distressed communities, including underserved rural areas. Funding for the Capital Magnet Fund comes from allocations made by the Government-Sponsored Enterprises Fannie Mae and Freddie Mac and varies from year to year.
For dates and details on how to apply, please see the full CDFI Fund announcement.