This $9,000,000 Project Grant award under the Department of the Treasury's Capital Magnet Fund (CFDA 21.011) program will enable Legacy Bank & Trust Company, a certified Community Development Financial Institution (CDFI), to finance affordable housing solutions and community revitalization efforts that benefit low-income individuals, families, and communities nationwide. The 20-year grant, awarded on October 23, 2024, will support the bank's efforts to attract private capital investment...
The Department of the Treasury's Community Development Financial Institutions Fund awarded a $12 million Project Grant to the National Housing Trust Community Development Fund through the Capital Magnet Fund program. The grant will support the creation and preservation of affordable housing for low-income individuals and families through increased private investment in acquisition, development, rehabilitation, and preservation of affordable rental and homeownership housing. Activities will be...
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...
The Department of the Treasury Community Development Financial Institutions Fund awarded a $12 million Project Grant to Beneficial State Bancorp, Inc. under the Capital Magnet Fund program (CFDA 21.011). The grant will support the creation and preservation of affordable housing for low-income individuals and families through June 2025. Through competitive subawards, the Capital Magnet Fund provides capital to finance affordable housing acquisition, development, rehabilitation and homeownership...
The Department of the Treasury Community Development Financial Institutions Fund awarded a $8 million Project Grant to United Bank on February 22, 2021 under the Capital Magnet Fund program (CFDA 21.011). The grant will help create and preserve affordable housing for low-income families, individuals, and economically distressed communities by attracting $8M in private capital financing. As the awardee, United Bank will use the grant to support financing for the preservation and rehabilitation of...
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 Department of the Treasury's Community Development Financial Institutions Fund awarded a $2.25 million Project Grant to Beneficial State Bancorp, Inc. on February 22, 2021 under the Capital Magnet Fund program (CFDA 21.011). The Capital Magnet Fund award will help create and preserve affordable housing for low-income families and economically distressed communities by attracting private capital. Beneficial State Bancorp will use the grant to support financing that will support the...
The City First Enterprises Inc. was awarded an $8.15 million project grant from the Department of the Treasury's Community Development Financial Institutions Fund under the Capital Magnet Fund program. The grant will support increasing private investment in affordable housing for low-income individuals and families through June 2025. Through competitive subawards, the Capital Magnet Fund provides capital to finance and support the acquisition, development, rehabilitation, and preservation of...
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $9,000,000 Project Grant to the Central Bank of Kansas City, a for-profit Community Development Financial Institution (CDFI). This 20-year grant, awarded on October 23, 2024, is funded through the Capital Magnet Fund (CFDA 21.011) program. The grant will enable Central Bank of Kansas City to finance affordable housing solutions and community revitalization efforts that benefit low-income...
The Department of the Treasury's Community Development Financial Institutions Fund awarded a $10 million Project Grant to Genesis La Economic Growth Corp under the Capital Magnet Fund program. The grant will support the creation and preservation of affordable housing for low-income individuals and families through 2025. Through competitive subawards, the Capital Magnet Fund provides capital to certified community development financial institutions and private nonprofit housing organizations to...