Opportunity Information: Apply for CDFI 2016 CMF
Apply for CDFI 2016 CMF
- The USDOT-CDFI in the community development sector is offering a public funding opportunity titled "Fiscal Year 2016 Capital Magnet Fund Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.011.
- This funding opportunity was created on Feb 05, 2016 and posted on Feb 05, 2016.
- Applicants must submit their applications by Mar 30, 2016. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- Each selected applicant is eligible to receive up to $12,000,000.00 in funding.
- The number of recipients for this funding is limited to 25 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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Opportunity Summary:
The Fiscal Year 2016 Capital Magnet Fund (CMF) Program is a discretionary federal grant opportunity administered by the CDFI Fund. It is designed to channel capital into affordable housing and related community development efforts in places that are low-income or otherwise underserved, including rural communities. The core purpose is to help finance the development, preservation, rehabilitation, or purchase of affordable housing that primarily serves extremely low-, very low-, and low-income families, while also supporting certain economic development and community service facilities when those investments are part of a broader neighborhood stabilization or revitalization strategy.
Funding is available to certified Community Development Financial Institutions (CDFIs) and select nonprofit organizations, with eligibility described in more detail in the program’s “Additional Information on Eligibility†section. The program is positioned under the Community Development funding activity category and is associated with CFDA number 21.011. Awards are made through grants, with the listing also indicating “Other†as an additional funding instrument type, reflecting that CMF awards can be structured to support a range of financing approaches used by mission-driven lenders and housing intermediaries.
For this FY 2016 round, the opportunity number is CDFI-2016-CMF. The application posting date and creation date were February 5, 2016, and the application deadline was March 30, 2016 (with no difference between the original and current closing dates). The program anticipated making about 25 awards, and the maximum award amount (award ceiling) shown is $12,000,000. The notice also notes an additional constraint: the CMF award ceiling is capped at 15 percent of the total program funding level. Because total program funding can vary by year and may be finalized after initial publication, the announcement indicates that the ceiling field could be updated once the total funding amount was released.
In practical terms, CMF is intended to help awardees assemble and leverage capital for affordable housing transactions and complementary community investments like day care centers, workforce development facilities, and health care clinics. A key emphasis is that these non-housing investments should be connected to affordable housing activities and should collectively advance a coordinated plan to stabilize or revitalize a low-income area or an underserved rural area, rather than operating as isolated projects.
Fiscal Year 2016 Capital Magnet Fund (CMF) Program (CDFI-2016-CMF) - FAQs
1) What is the Fiscal Year 2016 Capital Magnet Fund (CMF) Program?
The Fiscal Year 2016 Capital Magnet Fund (CMF) Program is a discretionary federal grant opportunity administered by the CDFI Fund. It is designed to channel capital into affordable housing and related community development efforts in low-income or otherwise underserved areas, including rural communities.
2) What is the main purpose of CMF funding?
The core purpose is to help finance the development, preservation, rehabilitation, or purchase of affordable housing. The program emphasizes housing that primarily serves extremely low-, very low-, and low-income families.
3) What kinds of activities can CMF support for affordable housing?
Based on the opportunity description, CMF can support affordable housing activities including:
- Development of affordable housing
- Preservation of affordable housing
- Rehabilitation of affordable housing
- Purchase of affordable housing
4) Can CMF funds be used for non-housing community facilities?
Yes. CMF can support certain economic development and community service facilities when those investments are part of a broader neighborhood stabilization or revitalization strategy that is connected to affordable housing activities.
5) What are examples of eligible non-housing investments mentioned in the opportunity?
The opportunity specifically mentions complementary community investments such as:
- Day care centers
- Workforce development facilities
- Health care clinics
6) Do non-housing investments need to be connected to housing?
Yes. A key emphasis in the opportunity is that non-housing investments should be connected to affordable housing activities and should collectively advance a coordinated plan to stabilize or revitalize a low-income area or an underserved rural area, rather than operating as isolated projects.
7) What types of communities does CMF target?
CMF is intended to support affordable housing and related community development efforts in places that are low-income or otherwise underserved. The opportunity highlights rural communities as included within that focus.
8) Who is eligible to apply for FY 2016 CMF funding?
Funding is available to certified Community Development Financial Institutions (CDFIs) and select nonprofit organizations. The opportunity notes that eligibility is described in more detail in the program's "Additional Information on Eligibility" section.
9) Is this opportunity a federal grant?
Yes. Awards are made through grants. The listing also indicates "Other" as an additional funding instrument type, reflecting that CMF awards can be structured to support a range of financing approaches used by mission-driven lenders and housing intermediaries.
10) What federal agency administers this program?
The program is administered by the CDFI Fund.
11) What is the opportunity number for this FY 2016 round?
The opportunity number is CDFI-2016-CMF.
12) What is the CFDA number associated with this program?
The program is associated with CFDA number 21.011.
13) What funding activity category is this opportunity listed under?
The opportunity is positioned under the Community Development funding activity category.
14) When was the FY 2016 CMF application posted?
The application posting date and creation date were February 5, 2016.
15) What was the application deadline for the FY 2016 CMF round?
The application deadline was March 30, 2016. The opportunity states there was no difference between the original and current closing dates.
16) About how many awards were anticipated for FY 2016?
The program anticipated making about 25 awards for this FY 2016 round.
17) What is the maximum award amount (award ceiling) shown for FY 2016?
The maximum award amount (award ceiling) shown is $12,000,000.
18) Is there any additional cap or limitation mentioned for the award ceiling?
Yes. The notice states the CMF award ceiling is capped at 15 percent of the total program funding level. It also notes that total program funding can vary by year and may be finalized after initial publication, so the ceiling field could be updated once the total funding amount was released.
19) Why might the published award ceiling change after initial publication?
The opportunity explains that total program funding can vary by year and may be finalized after initial publication. Because the award ceiling is capped at 15 percent of the total program funding level, the ceiling field could be updated once the total funding amount was released.
20) How does CMF help affordable housing projects in practical terms?
In practical terms, CMF is intended to help awardees assemble and leverage capital for affordable housing transactions and related community investments, particularly when those investments support a coordinated stabilization or revitalization plan in a low-income area or underserved rural area.
21) Does the opportunity indicate that CMF supports leveraging or financing approaches?
Yes. The opportunity notes that CMF awards can be structured to support a range of financing approaches used by mission-driven lenders and housing intermediaries, and it emphasizes helping awardees assemble and leverage capital.
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Applicants also applied for:
Applicants who have applied for this opportunity (CDFI 2016 CMF) also looked into and applied for these:
| Funding Opportunity |
|---|
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| Strengthen Citizen Security through Economic and Social Opportunity Apply for PRMECON 16 GR 001 WHA 030116 Funding Number: PRMECON 16 GR 001 WHA 030116 Agency: DOS-CRI Category: Community Development Funding Amount: $500,000 |
| FY 2016 Citizenship and Integration Grant Program: Citizenship Instruction and Naturalization Application Services Apply for DHS 16 CIS 010 002 Funding Number: DHS 16 CIS 010 002 Agency: DHS-OPO Category: Community Development Funding Amount: $9,000,000 |
| FY 2016 Citizenship and Integration Grant Program: Citizenship Instruction Apply for DHS 16 CIS 010 001 Funding Number: DHS 16 CIS 010 001 Agency: DHS-OPO Category: Community Development Funding Amount: $1,000,000 |
| Community Programs Expansion, NPS Centennial Apply for P16AS00068 Funding Number: P16AS00068 Agency: DOI-NPS Category: Community Development Funding Amount: $94,500 |
| Rural Housing Preservation Grants Apply for USDA RD HCFP HPG 2016 Funding Number: USDA RD HCFP HPG 2016 Agency: USDA-RHS Category: Community Development Funding Amount: $50,000 |
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| Community Roots Project Apply for RFA 520 16 000003 Funding Number: RFA 520 16 000003 Agency: USAID-GUA Category: Community Development Funding Amount: $40,000,000 |
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| Ambassador's Self Help Fund, Embassy Kinshasa Apply for SSH 508 16 300 Funding Number: SSH 508 16 300 Agency: DOS-COD Category: Community Development Funding Amount: $10,000 |
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| Notice of Intent to Award Apply for BOR LC 16 N015 Funding Number: BOR LC 16 N015 Agency: Department of the Interior, Bureau of Reclamation Category: Community Development Funding Amount: $396,831 |
| Financial Literacy for Mexican Women: Breaking the Cycle of Violence Apply for DOS MEX PD DF 2016 04 Funding Number: DOS MEX PD DF 2016 04 Agency: Department of State, U.S. Mission to Mexico Category: Community Development Funding Amount: $75,500 |
| Rural Capacity Building for Community Development and Affordable Housing Grants Apply for FR 6000 N 08 Funding Number: FR 6000 N 08 Agency: Department of Housing and Urban Development Category: Community Development Funding Amount: $2,500,000 |
| Arabia Mountain National Heritage Area Apply for P16AS00356 Funding Number: P16AS00356 Agency: Department of the Interior, National Park Service Category: Community Development Funding Amount: $300,000 |
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