Today, the U.S. Department of Treasury's Community Development Financial Institutions Fund (CDFI Fund) announced the recipients of the Fiscal Year (FY) 2016 Capital Magnet Fund (CMF) award. We would like to congratulate all award recipients, especially the 20 OFN Members who were selected for a CMF award.
- Atlanta Neighborhood Development Partnership, Inc.
- Capital Impact Partners
- Cinnaire Lending Corporation
- The Community Development Trust
- Community Housing Capital
- Community Investment Corporation
- Community Ventures Corporation, Inc.
- Enterprise Community Loan Fund, Inc.
- Genesis LA Economic Growth Corporation
- Homewise, Inc.
- Housing Assistance Council
- Local Initiatives Support Corporation
- Low Income Investment Fund
- MaineStream Finance
- Mercy Loan Fund
- New Hampshire Community Loan Fund, Inc.
- Ohio Capital Finance Corporation
- The Disability Fund, Inc.
- Virginia Community Capital, Inc.
More than $90 million in awards will be issued to 32 organizations. These organizations will leverage investment opportunities and increase access to affordable housing options for underserved communities across 37 states in the United States and the District of Columbia.
Twenty-three out of the 32 organizations are CDFIs. The 20 OFN Members selected will receive $57 million in funding for the development of affordable housing and community facilities in low-income communities. Since the program requires recipients to leverage $10 of housing and economic development investments for every $1 dollar of federal funds, OFN Members will support $570 million of investments in low-income communities.
To read the full press release, click here.