The Community Development Financial Institutions Fund’s (CDFI Fund) Capital Magnet Fund (CMF) resumed accepting CMF Performance Reporting data in the CDFI Fund’s Awards Management Information System (AMIS) on February 7, 2025.
In August 2024, the CDFI Fund paused the acceptance of CMF Project and Award Performance Report(s) to prepare for the launch of revised requirements in AMIS. Changes have been completed in AMIS to support Recipient reporting on CMF Award activities for all award years in order to:
- Reduce regulatory burden;
- Better align CMF with other Federal affordable housing programs;
- Increase the flexibility and timing to commit CMF Awards;
- Increase the flexibility and use of Program Income;
- Update Homeownership Purchase Price Limits; and
- Streamline reporting requirements.
CMF Performance Reports track CMF Recipients’ performance compared to the Performance Goals and Measures set forth in their Assistance Agreements. To align CMF Performance Reports with the revised CMF Interim Rule, reporting capabilities were temporarily paused in AMIS.
The necessary updates and modifications to the data fields in AMIS have been completed, and Recipients can now provide compliance reporting information in AMIS.
To help Recipients understand the implementation of the revised Interim Rule and the changes in AMIS, the CDFI Fund has developed multiple resources including (1) a new CMF Post Award Policy and Compliance Manual that documents and describes CDFI Fund policies for the CMF program (2) an updated CMF Frequently Asked Questions (FAQ) document that addresses common questions about the implementation of a CMF Award and compliance with the CMF Program rules, and (3) an updated AMIS User Guide for CMF Compliance Reporting which provides step-by-step instructions on how to complete CMF Annual Performance Reports and related transaction submissions in AMIS. All resources are kept current on the CDFI Fund website under the CMF Program subsection, Step 5: Compliance Resources and Reporting.
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