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FY Capital Magnet Fund Form
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People also ask
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What is the Capital Magnet Fund funding?
The Capital Magnet Fund (CMF) is a competitive grant program designed to attract private capital to the development, preservation, rehabilitation, or purchase of affordable housing for low-income families. -
What is the fiscal year 2023 Capital Magnet Fund Program?
“The FY 2023 CMF awards will provide Community Development Financial Institutions and nonprofit housing organizations with the critical resources they need to expand the availability of affordable housing for thousands of families and individuals in need across the country,” said Acting CDFI Fund Director Marcia Sigal. -
What is the Capital Magnet Fund statute?
The Capital Magnet Fund (CMF) was established through the Housing and Economic Recovery Act of 2008 (HERA), Public Law 110–289, section 1131. Per the statute, the allocations to the Capital Magnet Fund are to be used to carry out a competitive grant program administered by the CDFI Fund. -
What is the CDFI grant for 2023?
In FY 2023, the CDFI Fund will award the remaining $1.75 billion under the Minority Lending Program to CDFIs to expand their lending, grant making and investments activity in low- or moderate-income minority communities and to minorities that have signNow unmet capital or financial service needs. -
Who is eligible for CMF?
An Eligible Applicant to the CMF is either a for-profit (i.e., a taxable Canadian corporation, within the meaning of Canada's Income Tax Act) production company or Canadian Broadcaster (defined in section 2.1. 1 above) that: a) Is Canadian-controlled as determined in sections 26 to 28 of the Investment Canada Act. -
What is the Capital Magnet Fund funding?
The Capital Magnet Fund (CMF) is a competitive grant program designed to attract private capital to the development, preservation, rehabilitation, or purchase of affordable housing for low-income families. -
What is the interim rule for capital magnet fund?
The Interim Rule gives Awardees flexibility on how to meet the requirement, but the amount of the CMF funds used for the initial Affordable Housing Activity and the number of affordable units at each level of affordability committed by the CMF Awardee to support qualifying families in that Activity must be constant ... -
What is the CDFI grant for 2023?
In FY 2023, the CDFI Fund will award the remaining $1.75 billion under the Minority Lending Program to CDFIs to expand their lending, grant making and investments activity in low- or moderate-income minority communities and to minorities that have signNow unmet capital or financial service needs.
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