Positioning the Capital Magnet Fund for Impact and Innovation
Since its inception in 2008, the Capital Magnet Fund (CMF) has awarded nearly $1.1 billion in funding to create and preserve affordable housing for Low-Income families and economically distressed communities. Through the program, the Community Development Financial Institutions Fund (CDFI Fund) awards competitive grants to Certified Community Development Financial Institutions (CDFIs) and non-profit housing organizations to develop, rehabilitate, preserve, and purchase affordable housing, particularly housing targeted to Low-, Very Low-, and Extremely Low-Income families.