(EMAILWIRE.COM, July 21, 2009 ) Washington, DC - The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund announced today that it has posted the comments submitted in response to its Request for Public Comment related to the newly authorized Capital Magnet Fund. Through the Capital Magnet Fund, the CDFI Fund will administer a competitive grant program for CDFIs and nonprofit organizations (whose principal purposes includes the development or management of affordable housing) to attract private capital for and increase investment in the development, preservation, rehabilitation, and purchase of affordable housing (and related economic development activities and community service facilities) for primarily extremely low-, very low- and low-income families.

The Federal Register Request for Public Comment notice, published on March 6, 2009, specifically invited comments and suggestions regarding how the CDFI Fund should design, implement, and administer the Capital Magnet Fund.



The Obama Administration has requested $80 million to finance this program in fiscal year 2010. If funds are made available by Congress, the CDFI Fund anticipates that it will begin to solicit applications by the second quarter of fiscal year 2010.

The results of the request for Public Comment may be viewed here.

The Federal Register notice requesting Public Comment on the Capital Magnet Fund may be viewed here.


For more information on the CDFI Fund and its programs, please visit www.cdfifund.gov.

Contact Information:
U.S. Department of the Treasury
U.S. Department of the Treasury
Tel: (800) 439-1420
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