Opportunity Information: Apply for CDFI 2019 CMF
The Fiscal Year 2019 Capital Magnet Fund (CMF) Program is a mandatory federal grant opportunity administered by the U.S. Department of the Treasury through the Community Development Financial Institutions (CDFI) Fund. The program is designed to expand and strengthen affordable housing and related community investments by awarding CMF grants to eligible organizations that can deploy capital at scale in low-income communities and underserved rural areas. The central purpose is to finance housing and neighborhood revitalization activities in a way that supports long-term stability, improved services, and economic opportunity for residents with the greatest needs.
CMF funds are intended to support two broad types of activities. First, awards can be used to finance the development, preservation, rehabilitation, or purchase of affordable housing, with a primary focus on serving extremely low-income, very low-income, and low-income families. Second, awards can finance economic development activities or community service facilities that complement affordable housing and are part of a coordinated revitalization strategy for a targeted area. Examples of these complementary investments include facilities such as day care centers, workforce development and job training centers, and healthcare clinics. The emphasis is not on isolated projects, but on linked housing and community investments that work together to stabilize or revitalize neighborhoods that have experienced disinvestment.
Eligibility is limited to certified Community Development Financial Institutions and certain nonprofit organizations, as further defined in the CDFI Fund guidance referenced on the program website. The opportunity is categorized under community development (CFDA 21.011) and uses a grant funding instrument. The funding opportunity number for this round is CDFI-2019-CMF. The application window opened with a creation date of June 25, 2019, and had an original closing date of July 26, 2019, meaning applicants needed to prepare and submit materials within roughly a month.
In terms of funding scale and competitiveness, the program anticipated making approximately 34 awards. The listed award ceiling for a single grant is $19,600,000. The notice also states that the award ceiling is capped at 15 percent of total program funding, which effectively limits any one recipient from receiving an outsized share of the overall appropriation and helps spread resources across multiple high-capacity implementers. Applicants were directed to the CDFI Fund website for detailed application requirements, indicating that key submission standards, required narratives, eligible uses, compliance expectations, and scoring or selection considerations were provided through official CMF program materials and guidance documents.
Overall, the FY 2019 CMF Program targets organizations capable of using federal grant capital to finance affordable housing and supportive community infrastructure in a coordinated way, with a clear priority on serving households with very low incomes and on strengthening low-income or rural communities through a broader revitalization strategy rather than one-off investments.Apply for CDFI 2019 CMF
- The US Department of the Treasury, Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Fiscal Year 2019 Capital Magnet Fund Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.011.
- This funding opportunity was created on Jun 25, 2019.
- Applicants must submit their applications by Jul 26, 2019. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- Each selected applicant is eligible to receive up to $19,600,000.00 in funding.
- The number of recipients for this funding is limited to 34 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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