To attract financing for and increase investment in affordable housing for primarily low income, very low income, and extremely low income people and for certain related economic and community…

Active Project Grant Awarded Last action

Award ID
241CM065903G
Recipient
Awarding agency
Obligated
$6,750,000

Award facts

Assistance listing
21.011 Capital Magnet Fund
Completion date 10% complete
Originally
Place of performance
United States

Award details come from USAspending.gov.

Description

As the agency reported it.

To attract financing for and increase investment in affordable housing for primarily low income, very low income, and extremely low income people and for certain related economic and community development activities. Planned activities: through competitive grants, the capital magnet fund (CMF) provides capital to finance and support affordable housing and related economic development. End goals: expected outcomes include increased private investment in the acquisition, development, rehabilitation, and preservation of affordable rental housing and homeownership. Beneficiaries: certified community development financial institution; private nonprofit housing organizations, public nonprofit institution/organization. Low income, very low income, and extremely low income individuals and families as set forth in 12 C.F.R. Part 1807, as amended. Subrecipients: there are no subrecipients for this program. Broadband: not applicable. Reason/purpose of modification: not applicable.

Transactions

Action Obligated Date
Amendment $0
Amendment The CMF program offers competitively awarded grants to cdfis and nonprofit affordable housing organizations to finance affordable housing solutions and… $3,375,000
Original award $3,375,000

Quick answers

Who received award 241CM065903G?

241CM065903G was awarded to Artspace Projects Inc. by Community Development Financial Institutions Fund (Department of the Treasury) on October 15, 2024.

How much is award 241CM065903G worth?

$6,750,000 has been obligated on 241CM065903G.

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