The CDFI Fund provides grants through the Capital Magnet Fund Program to certified CDFIs and nonprofits for affordable housing development and economic activities in low-income areas. Grants support housing projects for extremely low-, very low-, and low-income families, along with community service facilities. The award ceiling is 15% of the Total Program Funding, with the specific amount to be announced. The closing date for applications is March 16, 2016. This grant aims to foster economic growth and housing stability in underserved rural and low-income urban areas.
Opportunity ID: 281343
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | CDFI-2016-CMF |
| Funding Opportunity Title: | Fiscal Year 2016 Capital Magnet Fund Program |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | CategoryExplanation |
| Funding Instrument Type: | Grant Other |
| Category of Funding Activity: | Community Development |
| Category Explanation: | – |
| Expected Number of Awards: | 25 |
| Assistance Listings: | 21.011 — Capital Magnet Fund |
| Cost Sharing or Matching Requirement: | No |
| Version: | Synopsis 2 |
| Posted Date: | Feb 04, 2016 |
| Last Updated Date: | Feb 19, 2016 |
| Original Closing Date for Applications: | Mar 30, 2016 |
| Current Closing Date for Applications: | Mar 16, 2016 |
| Archive Date: | Mar 17, 2016 |
| Estimated Total Program Funding: | $80,000,000 |
| Award Ceiling: | $12,000,000 |
| Award Floor: | – |
Eligibility
| Eligible Applicants: | 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. This program is excluded from coverage under OMB Circular No. A-87. |
Additional Information
| Agency Name: | Community Development Financial Institutions |
| Description: | 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. This field will be updated when the Total Program Funding amount is released. |
| Link to Additional Information: | A webpage on the CDFI Fund’s website with all the relevant details regarding the Capital Magnet Fund Program. |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact:
CDFI IT Help Desk
202-653-0422 Email:IThelpdesk@cdfi.treas.gov |
Version History
| Version | Modification Description | Updated Date |
|---|---|---|
| Per the Notice of Fund Availability for the Capital Magnet Fund published in the Federal Register on February 8, 2016, the deadline for the submission of the Mandatory SF- 424 in Grants.gov is March 16, 2016. The synopsis erroneously displayed the deadline for SF-424 as March 30, 2016. | Feb 19, 2016 | |
| Change posting date | Feb 19, 2016 |
DISPLAYING: Synopsis 2
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | CDFI-2016-CMF |
| Funding Opportunity Title: | Fiscal Year 2016 Capital Magnet Fund Program |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | CategoryExplanation |
| Funding Instrument Type: | Grant Other |
| Category of Funding Activity: | Community Development |
| Category Explanation: | – |
| Expected Number of Awards: | 25 |
| Assistance Listings: | 21.011 — Capital Magnet Fund |
| Cost Sharing or Matching Requirement: | No |
| Version: | Synopsis 2 |
| Posted Date: | Feb 04, 2016 |
| Last Updated Date: | Feb 19, 2016 |
| Original Closing Date for Applications: | Mar 30, 2016 |
| Current Closing Date for Applications: | Mar 16, 2016 |
| Archive Date: | Mar 17, 2016 |
| Estimated Total Program Funding: | $80,000,000 |
| Award Ceiling: | $12,000,000 |
| Award Floor: | – |
Eligibility
| Eligible Applicants: | 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. This program is excluded from coverage under OMB Circular No. A-87. |
Additional Information
| Agency Name: | Community Development Financial Institutions |
| Description: | 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. This field will be updated when the Total Program Funding amount is released. |
| Link to Additional Information: | A webpage on the CDFI Fund’s website with all the relevant details regarding the Capital Magnet Fund Program. |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact:
CDFI IT Help Desk
202-653-0422 Email:IThelpdesk@cdfi.treas.gov |
DISPLAYING: Synopsis 1
General Information
| Document Type: | Grants Notice |
| Funding Opportunity Number: | CDFI-2016-CMF |
| Funding Opportunity Title: | Fiscal Year 2016 Capital Magnet Fund Program |
| Opportunity Category: | Discretionary |
| Opportunity Category Explanation: | CategoryExplanation |
| Funding Instrument Type: | Grant Other |
| Category of Funding Activity: | Community Development |
| Category Explanation: | – |
| Expected Number of Awards: | 25 |
| Assistance Listings: | 21.011 — Capital Magnet Fund |
| Cost Sharing or Matching Requirement: | No |
| Version: | Synopsis 1 |
| Posted Date: | Feb 19, 2016 |
| Last Updated Date: | – |
| Original Closing Date for Applications: | – |
| Current Closing Date for Applications: | Mar 30, 2016 |
| Archive Date: | Mar 31, 2016 |
| Estimated Total Program Funding: | $80,000,000 |
| Award Ceiling: | $12,000,000 |
| Award Floor: | – |
Eligibility
| Eligible Applicants: | 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. This program is excluded from coverage under OMB Circular No. A-87. |
Additional Information
| Agency Name: | Community Development Financial Institutions |
| Description: | 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. This field will be updated when the Total Program Funding amount is released. |
| Link to Additional Information: | A webpage on the CDFI Fund’s website with all the relevant details regarding the Capital Magnet Fund Program. |
| Grantor Contact Information: | If you have difficulty accessing the full announcement electronically, please contact:
CDFI IT Help Desk
202-653-0422 Email:IThelpdesk@cdfi.treas.gov |
Related Documents
Folder 281343 Full Announcement-1 -> CMF NOFA FY 2016 FINAL.pdf
Folder 281343 Full Announcement-1 -> FY2016 CMF Application Instructions.pdf
Packages
| Agency Contact Information: | CDFI IT Help Desk 202-653-0422 Email: IThelpdesk@cdfi.treas.gov |
| Who Can Apply: | Organization Applicants |
| Assistance Listing Number | Competition ID | Competition Title | Opportunity Package ID | Opening Date | Closing Date | Actions |
|---|---|---|---|---|---|---|
| 21.011 | PKG00220812 | Feb 05, 2016 | Mar 30, 2016 | View |
Package 1
Mandatory forms
281343 SF424_Mandatory_1_2-1.2.pdf
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