A pool of up to $6,000,000 is available for proposed developments that satisfy Capital Magnet Fund (CMF) program requirements specific to CHFA, which, among other requirements, includes:
- Resident population: Minimum set-asides for households with incomes less than 50 percent of area median income;
- Location: Eligible proposed developments must be located in areas of economic distress and
- Leverage: Eligible proposed developments must achieve a private leverage capital ratio of 10:1.
Please note that funding is subject to ongoing availability and further information detailing all eligibility requirements is available here.