# Capital Magnet Fund (21.011)

Source: https://welltoldgrants.com/programs/21-011-capital-magnet-fund/  
Publisher: Well Told Grants. Data: USAspending.gov and Grants.gov, updated November 7, 2026.

Capital Magnet Fund is run by Department of the Treasury. From fiscal 2021 to 2025 it awarded $1.1 billion in 207 grants, about $5.2 million per award.

## Objectives

The Capital Magnet Fund helps to create and preserve affordable housing for low-income families, individuals, and economically distressed communities by attracting private capital. Grants are used to support financing for the preservation, rehabilitation, development or purchase of affordable housing as well as select related economic development and community facilities that serve residents of these communities.

## Funding by fiscal year

| Year | Amount | Awards |
|---|---|---|
| 2021 | $175 million | 48 |
| 2022 | $336 million | 59 |
| 2023 | $0 | 0 |
| 2024 | $321 million | 52 |
| 2025 | $246 million | 48 |

## Largest recipients

| Recipient | State | Amount |
|---|---|---|
| Massachusetts Housing Finance Agency | Massachusetts | $38.8 million |
| Preservation of Affordable Housing, Inc. | Massachusetts | $36.5 million |
| Greater Minnesota Housing Fund | Minnesota | $35.0 million |
| The Community Builders, Inc. | Massachusetts | $32.8 million |
| Corporation for Supportive Housing | New York | $28.8 million |
| Legacy Bank & Trust Company | Missouri | $27.0 million |
| Midpen Housing Corporation | California | $26.2 million |
| United Bank | Alabama | $26.0 million |
| Impact Development Fund | Colorado | $24.5 million |
| Cinnaire Lending Corporation | Illinois | $22.3 million |
| Central Bank of Kansas City | Missouri | $22.0 million |
| Wisconsin Housing Preservation Corp | Wisconsin | $21.3 million |
| Raza Development Fund Inc | Arizona | $21.0 million |
| Ohio Capital Finance Corporation | Ohio | $20.0 million |
| Colorado Housing and Finance Authority | Colorado | $19.0 million |
| Eden Housing, Inc. | California | $19.0 million |
| Rural Community Assistance Corporation | California | $18.6 million |
| Rhode Island Housing | Rhode Island | $17.5 million |
| Humangood Affordable Housing | California | $17.3 million |
| Bluehub Loan Fund Inc | Massachusetts | $17.0 million |