Project Grant 211CM058793G

Award Date 6/22/22
Completion Date 9/30/25
Dollars Obligated $9M
Federal Grant Program
21.011
Assistance Type
Project Grant
Place of Performance
United States
Similar Awards
The Rural Community Assistance Corporation (RCAC) was awarded a $2.9 million Capital Magnet Fund grant by the Department of the Treasury's Community Development Financial Institutions Fund on February 22, 2021. The Capital Magnet Fund program aims to create and preserve affordable housing for low-income families and economically distressed communities by attracting private capital. RCAC will use the grant to support financing that preserves and rehabilitates affordable housing, consistent with...
This federal Project Grant award, provided by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Capital Magnet Fund (CFDA 21.011) program, will grant $6,750,000.00 to the Rural Community Assistance Corporation (RCAC) to finance affordable housing solutions and community revitalization efforts that benefit low-income individuals, families, and communities nationwide. The 20-year award, effective October 23, 2024, will enable RCAC, a nonprofit...
The Rural Community Assistance Corporation (RCAC) was awarded a $690,000 Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) under the Community Development Financial Institutions Program (CDFI Program, CFDA 21.020). Through this award, RCAC will provide financial products, financial services, development services, loan loss reserves, and capital reserves to certified and emerging Community Development Financial Institutions (CDFIs)...
This $660,000 Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund will support the Community Development Financial Institutions Program. The Program uses monetary awards and training opportunities to build the capacity of certified Community Development Financial Institutions, enabling them to drive community revitalization through expanded lending, investment, and development services. Rural Community Assistance Corporation will leverage...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program awarded a $900,000 Project Grant to the Rural Community Assistance Corporation (RCAC), a nonprofit community development corporation, on September 26, 2024. This 3-year grant under CFDA 21.020 will enable RCAC to provide monetary awards, training, and technical assistance to certified and emerging CDFIs, empowering them to grow, achieve sustainability, and drive community revitalization,...
The Housing Assistance Council received a $5.625 million Project Grant award from the Department of the Treasury's Community Development Financial Institutions Fund under the Capital Magnet Fund program. The grant will support the Housing Assistance Council in attracting private investment to finance affordable housing and related economic development activities that benefit low-income individuals and families. Through competitive grants, the Capital Magnet Fund provides capital to finance and...
The Housing Assistance Council received a $1.478 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...
The Community Development Financial Institutions Fund within the Department of the Treasury awarded a $3 million Project Grant to the Community Enhancement Corporation through the Capital Magnet Fund program. The grant will support the Corporation in attracting private investment to finance affordable housing and related economic development activities that benefit low-income individuals and families through June 2025. Specifically, the Corporation will competitively award capital grants to...
The Rural Community Assistance Corporation (RCAC) was awarded a $1,826,265 Project Grant from the Department of the Treasury Community Development Financial Institutions Fund under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024). The grant will support RCAC's ability to respond to the economic impact of the coronavirus by providing financial and technical assistance to communities and organizations it serves through September 2023. As a Community...
The Community Development Trust, LP, a certified Community Development Financial Institution (CDFI), was awarded a $6,750,000 Project Grant from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Capital Magnet Fund (CFDA 21.011) program. This grant, awarded on October 23, 2024, will be used to finance affordable housing development, preservation, and rehabilitation initiatives that benefit extremely low-, very low-, and low-income families...

The Rural Community Assistance Corporation (RCAC) was awarded a $9 million Project Grant from the Department of the Treasury's Community Development Financial Institutions Fund on June 22, 2022. The grant funding will support RCAC's delivery of products and services under the Capital Magnet Fund program through September 30, 2025.

The Capital Magnet Fund program aims to increase private investment in affordable housing and related economic development activities that benefit low-income individuals. RCAC will use the grant to provide capital through competitive awards that finance the acquisition, development, rehabilitation and preservation of affordable rental and homeownership housing. This funding is expected to attract $90 million in additional private investment towards these activities. There are no subrecipients involved in delivering program services.

Generated 1/6/24, 11:45 PM