The Department of the Treasury Community Development Financial Institutions Fund awarded a $4 million Project Grant to Community First Fund under the Capital Magnet Fund program (CFDA 21.011).
The grant will support Community First Fund in attracting private investment to finance affordable housing and related economic development activities that benefit low-income individuals and families. Through June 2025, Community First Fund will leverage the federal funds to increase acquisition, development, rehabilitation and preservation of affordable rental and homeownership housing. No subrecipients are involved in delivering funded products or services. The Capital Magnet Fund aims to create and preserve affordable housing and stimulate community development by mobilizing private capital investments targeted at economically distressed communities.
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