The Massachusetts Housing Finance Agency (MassHousing) was awarded a $24 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 MassHousing in attracting private investment to finance affordable housing and related economic development activities that benefit low-income individuals and families.
Through this award, MassHousing will leverage the $24 million to provide capital for the acquisition, development, rehabilitation, and preservation of affordable rental and homeownership housing. The funding will also support related community and economic development. Intended beneficiaries include certified community development financial institutions, private nonprofit housing organizations, and public nonprofit entities. The grant aims to increase affordable housing options for individuals and families earning up to 80% of the area median income in Massachusetts. There are no subrecipients associated with this Capital Magnet Fund award to MassHousing.
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