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.
Whether your city can win this comes down to hard rules — population, designation, match capacity. Run your city and our AI checks it against the rules below in about 8 minutes.
Program facts
- Typical award
- $1M – $15M
- Non-federal match
- Varies by NOFO
- Eligible entity
- U.S. cities & local 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)
Who is eligible for Capital Magnet Fund (CMF)?
These are the hard rules we check against. If one fails, the program is ineligible — the AI never overrides a rule.
- 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
Run a city dossier and our AI cross-checks ACS demographics, 5-year USAspending award history, FEMA disaster history, and CEJST/Justice40 + HUD designations against this program's rules. You get a clear eligibility, strategic, and competitive answer — with the city's own hard evidence ready to anchor the narrative — instead of a generic match badge. And if it's a no-go, you'll know before you spend the month.
The dossier isn't the AI's guesswork — eligibility is decided by the rules, and the numbers come straight from official sources. The answer your reviewer will check line by line.
No credit card. 30-day trial, 3 dossiers, 1 seat.
Related programs
- Reconnecting Communities Pilot Program (DOT)$500K – $100M
- Brownfields Assessment, Cleanup, and Revolving Loan Fund Grants (EPA)$200K – $5M
- Pollution Prevention (P2) Grant Program (EPA)$250K – $1M
- Community Development Block Grant (CDBG) Entitlement (HUD)$500K – $30M
- CDBG Disaster Recovery (CDBG-DR) (HUD)$5M – $500M
- Section 108 Loan Guarantee (HUD)$1M – $100M
Award ranges, match percentages, and windows are approximate.