CDFI Fund: Comment Period on Capital Magnet Fund Interim Rule Extended

On March 17th, the Community Development Financial Institutions Fund (CDFI Fund) published an extension of the Request for Public Comment on the Capital Magnet Fund Interim Rule in the Federal Register. Through the Capital Magnet Fund, the CDFI Fund provides competitively awarded grants to CDFIs and qualified non-profit housing organizations. Capital Magnet Fund awards finance affordable housing activities, as well as related economic development activities and community service facilities.

The CDFI Fund originally published the Interim Rule on February 8, 2016. In order to allow interested Capital Magnet Fund program applicants, Community Development Financial Institutions, non-profit housing organizations, and the general public the maximum time available to provide comments on the Interim Rule, the CDFI Fund is extending the comment period.

Comments on the Interim Rule must be submitted by May 8, 2016. As the comments are regarding a Federal Rule, they must be submitted via the Federal e-Rulemaking Portal at http://www.regulations.gov (please follow the instructions for submitting comments). Comments submitted directly to the CDFI Fund will not be considered.

If you have clarifying questions related to the Interim Rule please contact Marcia Sigal, Capital Magnet Fund Program Manager, at cmf@cdfi.treas.gov.

The CDFI Fund opened the fiscal year 2016 round of the Capital Magnet Fund on February 2, 2016. Interested applicants were required to submit the SF-424 for their application through Grants.gov by March 16, 2016. The deadline for the submission of the remainder of the application materials through the CDFI Fund’s Awards Management Information System is March 30, 2016. For more information about the Capital Magnet Fund, please visit www.cdfifund.gov/cmf.

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