Capital Magnet Fund
E2190
The Capital Magnet Fund is a federal program that provides competitive grants to finance affordable housing and related community development projects in low-income communities across the United States.
Aliases (1)
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
affordable housing finance program
→
federal grant program → |
| administeredBy |
Community Development Financial Institutions Fund
→
U.S. Department of the Treasury → |
| authorizedBy |
U.S. Congress
→
|
| awardBasis |
competitive application process
→
|
| benefits |
low-income communities
→
low-income families → |
| country |
United States
→
|
| currency |
United States dollar
→
|
| eligibleApplicants |
certain public agencies
→
certified Community Development Financial Institutions → nonprofit housing organizations → tribal entities → |
| focus |
increasing the supply of affordable housing
→
stabilizing neighborhoods in low-income areas → supporting mixed-income housing developments → supporting transit-oriented affordable housing → |
| fundingType |
competitive grants
→
|
| fundingUse |
community service facilities related to affordable housing
→
development of affordable housing → economic development activities in conjunction with affordable housing → preservation of affordable housing → rehabilitation of affordable housing → |
| geographicScope |
national
→
|
| grantStructure |
multi-year awards
→
|
| legalAuthority |
Housing and Economic Recovery Act of 2008
→
|
| monitoredBy |
U.S. Department of the Treasury
→
|
| policyArea |
affordable housing policy
→
community reinvestment → |
| policyGoal |
to attract private capital into low-income communities
→
to expand affordable housing opportunities → |
| purpose |
to benefit low-income communities
→
to leverage private capital for community development → to support affordable housing → to support related economic development activities → |
| relatedTo |
Community Development Financial Institutions Fund Program
→
Low-Income Housing Tax Credit → New Markets Tax Credit Program → |
| requires |
leveraging of other private and public investment
→
reporting on affordable housing outcomes → |
| sector |
community development
→
housing → |
| targetAreas |
economically distressed communities
→
low-income communities → |
| targetPopulation |
low-income households
→
very low-income households → |
Referenced by (2)
| Subject (surface form when different) | Predicate |
|---|---|
|
United States Department of Housing and Urban Development
("HOME Investment Partnerships Program")
→
|
administers |
|
Community Development Financial Institutions Fund
→
|
manages |