The Department of the Treasury's Community Development Financial Institutions Fund awarded a $9 million Project Grant to Leviticus Alternative Fund Inc. under the Capital Magnet Fund program. The grant will support the Fund in attracting private investment to finance affordable housing and related economic development activities that benefit low-income individuals and families.
Specifically, the Fund will use competitive grants to increase acquisition, development, rehabilitation and preservation of affordable rental housing and homeownership opportunities. Intended beneficiaries include certified community development financial institutions, private nonprofit housing organizations and public nonprofit entities. The grant has a completion date of December 31, 2025 and does not involve any subrecipients. The Capital Magnet Fund aims to leverage private capital to create and preserve affordable housing and support economically distressed communities.
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