Project Grant 201CM055186G

Award Date 2/22/21
Completion Date Not listed
Dollars Obligated $8M
Federal Grant Program
21.011
Assistance Type
Project Grant
Place of Performance
United States
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The Department of the Treasury Community Development Financial Institutions Fund awarded a $8 million Project Grant to United Bank on February 22, 2021 under the Capital Magnet Fund program (CFDA 21.011).

The grant will help create and preserve affordable housing for low-income families, individuals, and economically distressed communities by attracting $8M in private capital financing. As the awardee, United Bank will use the grant to support financing for the preservation and rehabilitation of affordable housing through loans and other financial products. The Capital Magnet Fund program aims to increase the supply of affordable housing through public and private sector efforts.

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