Opportunity Information: Apply for CDFI 2023 CMF
The Fiscal Year 2023 Capital Magnet Fund (CMF) Program is a mandatory federal grant opportunity administered by the U.S. Department of the Treasury through the Community Development Financial Institutions (CDFI) Fund. The program is designed to expand and strengthen investment in affordable housing and related community development efforts by providing grant capital to eligible mission-driven organizations. Funding is awarded as grants, and the assistance is intended to help recipients finance projects and strategies that directly benefit low-income communities, including underserved rural areas.
At its core, the CMF Program supports two connected types of activities. First, it funds affordable housing work, including the development, preservation, rehabilitation, or purchase of affordable housing. The primary target beneficiaries are extremely low-, very low-, and low-income families, reflecting the program's emphasis on deep affordability and serving households with significant housing needs. Second, the program also supports economic development activities and community service facilities when they are carried out in conjunction with affordable housing as part of a coordinated strategy. Examples of community service facilities specifically highlighted include day care centers, workforce development centers, and health care clinics. The key theme is that these non-housing investments are not standalone; they are meant to complement affordable housing activity in a way that stabilizes or revitalizes a low-income area or an underserved rural area. In practice, this means the program is oriented toward place-based outcomes, where housing and community-serving infrastructure are planned together to improve neighborhood stability, access to services, and economic opportunity.
Eligibility is limited to certified Community Development Financial Institutions (CDFIs) and certain nonprofit organizations, with the official eligibility clarifications referenced in the program's "Additional Information on Eligibility" section and further application guidance provided on the CDFI Fund's website. This reflects the program's intent to channel funds through organizations with demonstrated community development missions and capacity to deploy capital into complex housing and community development transactions.
For FY 2023, the funding opportunity is listed under Opportunity Number "CDFI 2023 CMF" and CFDA (Assistance Listing) number 21.011, within the Community Development funding activity category. The notice indicates an expected 55 awards. The maximum award amount (award ceiling) is $48,090,000, and the program also states that the award ceiling is capped at 15 percent of total program funding, which effectively limits how much any single applicant can receive relative to the overall appropriation for that round. The opportunity was created on January 18, 2023, with an original application deadline of February 23, 2023.
Overall, the FY 2023 CMF Program can be understood as a large-scale capital tool aimed at increasing affordable housing supply and preservation while also supporting the kinds of neighborhood-serving facilities and economic development activities that make affordable housing developments sustainable and beneficial for residents. The program emphasizes integrated community investment: housing plus services and economic supports, aligned under a deliberate strategy to strengthen distressed communities and rural areas that have historically lacked sufficient access to capital.Apply for CDFI 2023 CMF
- The US Department of the Treasury, Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Fiscal Year 2023 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 Jan 18, 2023.
- Applicants must submit their applications by Feb 23, 2023. (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 $48,090,000.00 in funding.
- The number of recipients for this funding is limited to 55 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
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| Funding Opportunity |
|---|
| Alumni Outreach Program 2023 Apply for SMK800 23 PAS004 Funding Number: SMK800 23 PAS004 Agency: Department of State, U.S. Mission to North Macedonia Category: Community Development Funding Amount: $25,000 |
| Democracy Commission Small Grants Program 2023 Apply for PAS 800 FY23 05 Funding Number: PAS 800 FY23 05 Agency: Department of State, U.S. Mission to North Macedonia Category: Community Development Funding Amount: $24,000 |
| US EMBASSY ACCRA SPECIAL SELF-HELP PROGRAM Apply for DOS GHANA ECON 2023 01 Funding Number: DOS GHANA ECON 2023 01 Agency: Department of State, U.S. Mission to Ghana Category: Community Development Funding Amount: $12,000 |
| 2023 Ambassador’s Special Self-Help Program Apply for NGA POLECON GR 23 002 022423 Funding Number: NGA POLECON GR 23 002 022423 Agency: Department of State, U.S. Mission to Nigeria Category: Community Development Funding Amount: $10,000 |
| Ambassador’s Special Self-Help Fund (ASSHF) Rwanda Apply for DOS RWANDA PE 2023 02 Funding Number: DOS RWANDA PE 2023 02 Agency: Department of State, U.S. Mission to Rwanda Category: Community Development Funding Amount: $15,000 |
| U.S. Embassy Gaborone, Botswana - Ambassador's Special Self-Help Fund Program (ASSHF) Apply for DOS GABORONE GR ASSHF 2023 Funding Number: DOS GABORONE GR ASSHF 2023 Agency: Department of State, U.S. Mission to Botswana Category: Community Development Funding Amount: $20,000 |
| FY22 and FY23 Distressed Cities Technical Assistance (DCTA) Program Apply for FR 6700 N 54 Funding Number: FR 6700 N 54 Agency: US Department of Housing and Urban Development Category: Community Development Funding Amount: $5,000,000 |
| FY 2023 Bank Enterprise Award Program Application Apply for CDFI 2023 BEA Funding Number: CDFI 2023 BEA Agency: US Department of the Treasury, Community Development Financial Institutions Category: Community Development Funding Amount: $1,000,000 |
| Ambassador's Special Self-Help Fund Apply for DOS ANGOLA SSH FY23 01 Funding Number: DOS ANGOLA SSH FY23 01 Agency: Department of State, U.S. Mission to Angola Category: Community Development Funding Amount: $10,000 |
| Youth Homeless Demonstration Program Apply for FR 6700 N 35 Funding Number: FR 6700 N 35 Agency: US Department of Housing and Urban Development Category: Community Development Funding Amount: $15,000,000 |
| U.S. Ambassador's Special Self-Help Fund (SSH) Apply for SSH 00 FY23 01 Funding Number: SSH 00 FY23 01 Agency: Department of State, U.S. Mission to Benin Category: Community Development Funding Amount: $10,000 |
| PGO Request for SSH Proposals Apply for PGO MRT FY2022 Funding Number: PGO MRT FY2022 Agency: Department of State, U.S. Mission to Mauritania Category: Community Development Funding Amount: $10,000 |
| Fiscal Year (FY) 2022 Case Management Pilot Program (CMPP) Apply for DHS 23 GPD 102 00 01 Funding Number: DHS 23 GPD 102 00 01 Agency: Department of Homeland Security, Department of Homeland Security - FEMA Category: Community Development Funding Amount: $15,000,000 |
| SMALL & MIGHTY GRANTS PROGRAM Apply for PDS COL 2023 SMG Funding Number: PDS COL 2023 SMG Agency: Department of State, U.S. Mission to Sri Lanka Category: Community Development Funding Amount: $250,000 |
| Affordable Connectivity Outreach Grant Program – Tribal Competitive Outreach Program (TCOP) Round 2 Apply for FCC ACOGP 23 004 Funding Number: FCC ACOGP 23 004 Agency: Federal Communications Commission Category: Community Development Funding Amount: $400,000 |
| Affordable Connectivity Outreach Grant Program – National Competitive Outreach Program (NCOP) Round 2 Apply for FCC ACOGP 23 003 Funding Number: FCC ACOGP 23 003 Agency: Federal Communications Commission Category: Community Development Funding Amount: $400,000 |
| Inclusive Development and Equitable Assistance (IDEA) LWA Apply for 7200AA23RFA00013 Funding Number: 7200AA23RFA00013 Agency: Agency for International Development Category: Community Development Funding Amount: $99,000,000 |
| Local Grant: University Leadership and Engagement Apply for TUNIS06082024 Funding Number: TUNIS06082024 Agency: Department of State, Assistance Coordination Category: Community Development Funding Amount: $500,000 |
| FY 2023 Citizenship and Integration Grant Program: Citizenship Instruction and Naturalization Application Services (CINAS) Apply for CI CET 23 002 Funding Number: CI CET 23 002 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $300,000 |
| FY 2023 Citizenship and Integration Grant Program: Innovations in Citizenship Preparation Apply for CI CET 23 004 Funding Number: CI CET 23 004 Agency: Department of Homeland Security, Office of Procurement Operations - Grants Division Category: Community Development Funding Amount: $250,000 |
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