The Community Development Financial Institutions (CDFI) Fund has announced $80 million in awards in the first funding round of the federal Capital Magnet Fund program. The grant awards will help fund the preservation, rehabilitation, or purchase of affordable housing in low-income communities as well as community service facilities such as day care centers, workforce development centers, and health care clinics. Twenty-three awards were made to organizations serving 38 states. The Fund had received 230 applications requesting more than $1 billion. The Fund has posted details about the organizations receiving the awards, the grant amounts, and how the funds will be used. The Capital Magnet Fund program was authorized in 2008. Read More…