The Department of the Treasury's Community Development Financial Institutions Fund awarded a $12 million project grant to Central Bank of Kansas City through the Capital Magnet Fund program. The grant will support the bank in providing affordable housing and related economic development activities for low-income individuals and families.
Specifically, the bank will use the Capital Magnet Fund grant to attract private financing to acquire, develop, rehabilitate and preserve affordable rental and homeownership housing. No subrecipients are involved. The grant has a completion date of December 31, 2025, and aims to increase private investment in affordable housing opportunities through the bank's community development activities.
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