On May 28, 2020, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 application for the Capital Magnet Fund.

Through the Capital Magnet Fund, the CDFI Fund competitively awards funds to CDFIs and qualified nonprofit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.

The FY 2020 Capital Magnet Fund Notice of Funds Availability (NOFA), application, application instructions, and related guidance can be found on the CDFI Fund's website under "How to Apply, Step 2: Apply".

The application process consists of two parts:

  1. Submit the SF-424 Mandatory form through Grants.gov, and
  2. Submit the rest of the application through the CDFI Fund's Awards Management Information System (AMIS).

Provided below are key submission deadlines. For more information, please visit the CDFI Fund website.

  • The deadline for submission of the SF-424 is 11:59 PM Eastern Time (ET) on June 26, 2020. All applicants must submit their SF-424 electronically through Grants.gov.
  • The deadline for creating an organizational account in AMIS is 11:59 PM ET on July 2, 2020.
  • The CDFI Fund will stop taking questions about the application at 5:00 PM ET on July 23, 2020.
  • The deadline for submission of the Capital Magnet Fund application materials through the CDFI Fund's Award Management Information System (AMIS) is 5:00 PM ET on July 27, 2020.

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