CDFI-2024-CMF: Fiscal Year 2024 Capital Magnet Fund Program
Closed
This grant is closed. Who won this program's grants before is below, and similar open grants are at the end of the page. It is in our archive of Community Development Financial Institutions notices from 2024.
Community Development Financial Institutions offered grants of up to $37.0 million (at least $500,000) to the applicants described in the notice. It expected to make about 55 awards worth $247 million in total. Applications closed on March 14, 2024.
From the official notice on Grants.gov, last changed February 12, 2024. Checked November 7, 2026.
- Award ceiling$37.0 million
- Award floor$500,000
- Total funding$247 million
- Expected awards55
- Cost sharingNot required
- Funding typeGrant
Other notices with this title
| Notice | Posted | Deadline | Status |
|---|---|---|---|
| CDFI-2023-CMF | January 18, 2023 | Closed February 23, 2023 | Closed |
| CDFI-2021-CMF | September 9, 2021 | Closed October 12, 2021 | Closed |
Key dates
| Posted | February 13, 2024 |
|---|---|
| Deadline | March 14, 2024 |
| Archived by Grants.gov | April 13, 2024 |
Who can apply
This opportunity was open to the applicants described in the notice.
- Others (see text field entitled "Additional Information on Eligibility" for clarification)
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.
Is this a realistic fit?
- Past Capital Magnet Fund awards averaged $5.2 million; this notice allows up to $37.0 million per award.
- Most of the program's money (79% over five years) went to nonprofits.
- No cost sharing or match is required.
What the grant funds
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.
Who has won Capital Magnet Fund grants before
From fiscal 2021 to 2025, Capital Magnet Fund (21.011) awarded $1.1 billion across 207 grant awards, an average of $5.2 million per award.
| Recipient | State | Awards | Amount |
|---|---|---|---|
| Massachusetts Housing Finance Agency | Massachusetts | 4 | $38.8 million |
| Preservation of Affordable Housing, Inc. | Massachusetts | 4 | $36.5 million |
| Greater Minnesota Housing Fund | Minnesota | 4 | $35.0 million |
| The Community Builders, Inc. | Massachusetts | 4 | $32.8 million |
| Corporation for Supportive Housing | New York | 4 | $28.8 million |
Applying now
This notice no longer takes applications. Agencies often post the same opportunity again under a new number, so check the program's notices on Grants.gov and the similar open grants below.
The notice on Grants.gov keeps its full text and attachments, which is useful for planning a resubmission.
Questions people ask
Is CDFI-2024-CMF still open?
No. It closed on March 14, 2024.
Who can apply for Fiscal Year 2024 Capital Magnet Fund Program?
Community Development Financial Institutions accepted applications from the applicants described in the notice. The notice adds further conditions, so read its eligibility section.
What is the deadline for Fiscal Year 2024 Capital Magnet Fund Program?
Closed March 14, 2024. Applications are no longer accepted; the program's newer notices are on this page when there are any.
How much funding is available?
Awards of up to $37.0 million each. About $247 million in total across about 55 awards.
Who has won Capital Magnet Fund grants before?
The largest recipients over five fiscal years were Massachusetts Housing Finance Agency, Preservation of Affordable Housing, Inc., Greater Minnesota Housing Fund. The program made 207 awards worth $1.1 billion in that time.
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