Capital Magnet Fund Application Notice

The Community Development Financial Institutions Fund (CDFI Fund) has issued a notice announcing the application period for its Capital Magnet Fund (CMF) program. The notice, posted on September 24, 2024, serves as an informational announcement for entities interested in applying for CMF awards, which support affordable housing and community development initiatives.

Regulated entities, particularly non-profits and financial institutions involved in community development, should review the application materials and deadlines posted on regulations.gov. While this notice itself does not impose new obligations, it signals the opening of a funding opportunity. Compliance officers should ensure that any interested departments or affiliated organizations are aware of the application window and requirements to pursue potential funding.