Capital magnet fund award

The Volunteers of America National Services received a $4.5 million Capital Magnet Fund award from the Department of the Treasury's Community Development Financial Institutions Fund on February 22, 2021. The award will support the Capital Magnet Fund program's goal of creating and preserving affordable housing for low-income families, individuals, and economically distressed communities. Through attracting private capital, the grant funds will help finance activities like the preservation and rehabilitation of affordable housing. The Capital Magnet Fund, administered through the Community Development Financial Institutions Fund under the CFDA program numbered 21.011, aims to leverage private market participation to expand the supply of affordable housing for low-income households across the United States.