The Department of the Treasury Community Development Financial Institutions Fund awarded a $7.4 million Project Grant to the Community Loan Fund of the Capital Region, Inc. under the Capital Magnet Fund program. Through this award, the Community Loan Fund will provide capital to finance affordable housing and related economic development activities for low-income individuals and families. Specifically, the organization will use the funding to attract private investment towards the acquisition, development, rehabilitation, and preservation of affordable rental housing and homeownership opportunities. By leveraging federal dollars, the Community Loan Fund aims to increase affordable housing stock and stimulate community development in economically distressed areas. There are no subrecipients associated with this particular Capital Magnet Fund award.
Mod # | Description | Reason For Modification | Federal Obligation (Click to sort descending) | Date (Click to sort ascending) |
|---|---|---|---|---|
| Not listed | $3.7m | 6/22/22 |