Department of the Treasury · Housing · Economic Development
Capital Magnet Fund (CMF)
Competitive grants to CDFIs and qualified nonprofit housing organizations to finance affordable housing and related economic-development activities. Cities partner with grantee CDFIs rather than apply directly.
Program facts
- Typical award
- $1M – $15M
- Non-federal match
- Varies by NOFO
- Audience
- Cities, towns, counties, and tribal governments
- Application window
- Annual NOFA (typically once every 1-2 years).
- Typical prep time
- 10–18 weeks
- Statutory authority
- Housing and Economic Recovery Act of 2008 §1339 (12 U.S.C. §4569)
Catalog entry last verified 2026-05-24 · Verify on the agency page →
Eligibility at a glance
- Cities are eligible applicants.
Awardees are CDFIs and qualifying nonprofit housing orgs. Cities benefit indirectly through downstream investment in their jurisdictions. Amounts and timing approximate; verify directly with administering agency.
How Strategic Pursuit scores this program
When you run a city dossier, Strategic Pursuit cross-checks the city's demographics, federal award history, disaster history, and CEJST burden categories against this program's eligibility and strategic-fit signals. You see an explicit eligibility / strategic / competitive grade — backed by source citations — instead of a generic "match" badge.
Planning purposes only. Award ranges, match percentages, and application windows on this page summarize the latest publicly available agency guidance and are approximate. Always verify the binding NOFO on the administering agency's page before applying.