The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is conducting two separate conference calls for potential applicants to the Capital Magnet Fund. These calls will serve as a forum for potential applicants to ask questions of CDFI Fund staff about the current round of the Capital Magnet Fund. Calls are scheduled for the following times:
- Wednesday, March 31, 2010, 3:00 — 4:00 p.m. EDT
- Friday, April 2, 2010, 3:00 – 4:00 p.m. EDT
To access these conference calls, participants need to call (888) 391-6580 and enter in the pin number 5148976. No prior registration is necessary. Please note that the phone number and pin number are the same for both of the conference calls.
The Capital Magnet Fund will provide competitively awarded grants to CDFIs and qualified nonprofit housing organizations. Capital Magnet Fund awards can be used to finance affordable housing activities as well as related economic development activities and community service facilities. Awardees will be able to utilize financing tools such as loan loss reserves, loan funds, risk-sharing loans, and loan guarantees to produce eligible activities whose aggregate costs are at least ten times the size of the award amount.