Opportunity Information: Apply for CDFI 2018 CMF
The Fiscal Year 2018 Capital Magnet Fund (CMF) Program is a mandatory grant opportunity administered by the U.S. Department of the Treasury through the Community Development Financial Institutions (CDFI) Fund. It is designed to channel federal resources into projects that expand affordable housing and strengthen community infrastructure in places that are economically distressed, including low-income neighborhoods and underserved rural areas. The program’s core idea is to help mission-driven organizations assemble the kind of long-term financing needed to build, preserve, rehabilitate, or purchase affordable housing, while also supporting complementary investments that make those housing efforts more sustainable and stabilizing for the broader community.
Funding under this opportunity is targeted primarily toward affordable housing serving extremely low-income, very low-income, and low-income families. The program supports a range of housing activities, including new development as well as preservation and rehabilitation, recognizing that protecting existing affordable units can be as important as creating new ones. In addition to housing, CMF funds can also be used for economic development activities and community service facilities when those investments are tied to a broader neighborhood strategy. Examples listed in the opportunity include facilities like day care centers, workforce development centers, and health care clinics, reflecting the program’s emphasis on pairing housing with the services and local economic supports that help residents remain stable and improve long-term outcomes.
A key requirement is that non-housing components must be connected to the affordable housing work and must advance a coordinated plan to stabilize or revitalize a low-income area or an underserved rural area. In practice, this means CMF is not simply a standalone housing construction grant; it is meant to function as part of a deliberate, place-based strategy where housing and community amenities or economic activity reinforce each other. The overarching purpose is neighborhood strengthening, not isolated projects.
The eligible applicants are certified CDFIs and certain nonprofit organizations, with eligibility details clarified in the official guidance referenced by the CDFI Fund. The opportunity is listed under CFDA (now commonly referred to as Assistance Listing) number 21.011, and the funding instrument type is a grant. The opportunity number is CDFI-2018-CMF, and it was posted on July 18, 2018, with an application deadline of September 17, 2018.
For this funding round, the award ceiling is stated as $21,400,000 per award, and the program anticipated making about 32 awards. The notice also notes that the CMF award ceiling is capped at 15 percent of total program funding, which effectively limits how large any single award can be relative to the overall appropriation for that year. Applicants were directed to the CDFI Fund’s website for the complete application requirements and detailed instructions, indicating that the formal Notice of Funds Availability and related guidance documents are essential for understanding thresholds, documentation, and compliance expectations.Apply for CDFI 2018 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 2018 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 Jul 18, 2018.
- Applicants must submit their applications by Sep 17, 2018. (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 $21,400,000.00 in funding.
- The number of recipients for this funding is limited to 32 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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Fiscal Year 2018 Capital Magnet Fund (CMF) Program FAQs
What is the Fiscal Year 2018 Capital Magnet Fund (CMF) Program?
The Fiscal Year 2018 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. It is intended to channel federal resources into projects that expand affordable housing and strengthen community infrastructure in economically distressed places, including low-income neighborhoods and underserved rural areas.
What is the main purpose of CMF funding?
The program’s central purpose is neighborhood strengthening through a place-based approach. CMF is designed to help mission-driven organizations assemble long-term financing to build, preserve, rehabilitate, or purchase affordable housing, while also supporting related investments that make those housing efforts more sustainable and stabilizing for the broader community.
Which communities does the CMF Program aim to serve?
CMF targets economically distressed areas, including low-income neighborhoods and underserved rural areas. The program emphasizes investments that help stabilize or revitalize low-income areas or underserved rural areas.
What types of housing activities are supported?
CMF supports a range of affordable housing activities, including new development, preservation, rehabilitation, and purchase of affordable housing. The opportunity description specifically recognizes that protecting existing affordable housing units can be as important as creating new units.
Who is the affordable housing intended to serve?
Funding is targeted primarily toward affordable housing serving extremely low-income, very low-income, and low-income families.
Can CMF funds be used for non-housing activities?
Yes. In addition to housing, CMF funds can be used for economic development activities and community service facilities, but only when those investments are tied to a broader neighborhood strategy connected to the affordable housing work.
What is the requirement for non-housing components funded under CMF?
Non-housing components must be connected to the affordable housing activities and must advance a coordinated plan to stabilize or revitalize a low-income area or an underserved rural area. The program is intended to support a deliberate, place-based strategy rather than isolated projects.
What are examples of community service facilities mentioned for CMF support?
Examples listed include day care centers, workforce development centers, and health care clinics. These examples reflect the program’s emphasis on pairing housing with services and local economic supports that help residents remain stable and improve long-term outcomes.
Is CMF meant to be a standalone housing construction grant?
No. The opportunity description emphasizes that CMF is not simply a standalone housing construction grant. It is meant to function as part of a coordinated, place-based strategy where housing and community amenities or economic activity reinforce each other.
Who is eligible to apply for this opportunity?
Eligible applicants include certified CDFIs and certain nonprofit organizations, with eligibility details clarified in the official guidance referenced by the CDFI Fund.
Which federal agency administers the CMF Program?
The program is administered by the U.S. Department of the Treasury through the CDFI Fund.
What is the Assistance Listing (CFDA) number for this opportunity?
The opportunity is listed under CFDA (now commonly referred to as Assistance Listing) number 21.011.
What type of funding instrument is used?
The funding instrument type for this opportunity is a grant.
What is the opportunity number for this funding round?
The opportunity number is CDFI-2018-CMF.
When was the opportunity posted and what was the application deadline?
The opportunity was posted on July 18, 2018, and the application deadline was September 17, 2018.
What is the maximum award amount (award ceiling) for this round?
The award ceiling is $21,400,000 per award.
How many awards were anticipated?
The program anticipated making about 32 awards for this funding round.
Is there a cap on how large an individual CMF award can be relative to total program funding?
Yes. The notice states that the CMF award ceiling is capped at 15 percent of total program funding, which limits how large any single award can be relative to the total appropriation for that year.
Where are the complete application requirements and detailed instructions located?
Applicants were directed to the CDFI Fund’s website for the complete application requirements and detailed instructions. The opportunity description indicates that the formal Notice of Funds Availability (NOFA) and related guidance documents are essential for understanding thresholds, documentation, and compliance expectations.
Why is the NOFA and related guidance important for applicants?
The NOFA and related guidance documents are described as essential because they contain the complete application requirements and detailed instructions, including thresholds, documentation, and compliance expectations referenced by the CDFI Fund.
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