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Capital Magnet Fund is sponsored by Department of the Treasury. The Capital Magnet Fund helps to create and preserve affordable housing for low-income families, individuals, and economically distressed communities by attracting private capital.
Grants are used to support financing for the preservation, rehabilitation, development or purchase of affordable housing as well as select related economic development and community facilities that serve residents of these communities. This listing is currently active. Program number: 21.
011. Last updated on 2026-01-19.
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## Step 2: Application Process The Notice of Funds Availability (NOFA), instructions, and supplemental materials for the FY 2024 round of the Capital Magnet Fund (CMF) program are below. These materials are intended to help you understand how to apply for a Capital Magnet Fund Award. The application materials listed on this page and the requirements set forth in the NOFA are subject to change for future funding rounds.
Applicants for CMF are required to submit materials through Grants. gov (SF-424) and the CDFI Fund’s Award Management Information System (AMIS). Applicants are advised to review the NOFA, Application Instructions and related materials below.
Applicants are also advised to submit their SF-424 in Grants. gov and create an organizational AMIS account, if they don’t have one already. ### CAPITAL MAGNET FUND OVERVIEW PRESENTATIONS For those preparing to apply for the FY 2024 application round, the Capital Magnet Fund team held a pre-application information session on December 6, 2023.
The presentation and a recording of the session is available below.
* FY 2024 Capital Magnet Fund Overview presentation * FY 2024 Capital Magnet Fund Overview session recording * Getting Ready to Apply to the Capital Magnet Fund Round blog post Additionally, the following six modules provide an overview of various Capital Magnet Fund program topics: * Module 1: Introduction to Capital Magnet Fund * Module 2: Capital Magnet Fund Eligibility & Program Requirements * Module 3: Attracting Capital Through the Capital Magnet Fund * Module 4: A Good Business Strategy is Key * Module 5: Affordable Housing and CMF * Module 6: Economic Development and CMF ### FY 2024 APPLICATION ROUND TIMELINE * For Depository Institution Holding Company Applicants, the Title VI Compliance Worksheet requirement also applies to the Applicant’s Subsidiary Depository Institution.
### FY 2024 APPLICATION WEBINARS The CDFI Fund will conduct four live webinars to answer applicant questions about the FY 2024 Capital Magnet Fund Application. More information about how to access the webinars is available below. All webinars will take place on Zoom.
Use the links below to register in advance for the webinars or access the webinars by clicking the links below five minutes before the webinars begin. Each webinar has a unique link. Advance registration is recommended but not required to participate in the webinars.
Webinar presentations and recordings will be posted after the live webinar. ### FY 2024 APPLICATION MATERIALS Questions regarding the Capital Magnet Fund program may be directed to the CDFI Fund by submitting a Service Request from your Awards Management Information System (AMIS) account. Non-AMIS users may contact the CDFI Fund’s Help Desk by e-mail to cmf@cdfi.
treas. gov; or by phone to (202) 653-0421. Please note this is not a toll free number.
According to the current listing, eligibility includes: Applicants must be either (a) a Treasury certified CDFI; or (b) a nonprofit organization having as one of its principal purposes the development or management of affordable housing. Eligible applicant types include: For-Profit Organization. Confirm the full requirements in the official notice before applying.
The current listing shows recent federal obligations suggest $217,000,000 (2026). Verify award ceilings, matching requirements, and allowable costs in the official notice.
Yes — Capital Magnet Fund is offered by Department of the Treasury and this listing comes from SAM.gov, an official U.S. federal source. Federal applications generally require registrations (for example SAM.gov or an agency submission portal), so allow extra lead time.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
Past winners and funding trends for this program
The U.S. Department of the Treasury made 7,781 awards worth roughly $16.2 billion to 2,745 recipients from FY2021 through FY2025, reaching 59 states and territories with a median award of $167,504. The California Department of Finance ($540.2 million) and the Comptroller of Public Accounts ($500.5 million) were among the top recipients, and 59 percent of recipients won more than one separate award.
| Organization | Total awarded |
|---|---|
| State of California Department of Finance(CA) | $540.2M |
| Comptroller of Public Accounts(TX) | $500.5M |
| State of Florida Department of Financial Services(FL) | $366.0M |
| New York State Urban Development Corporation(NY) | $365.9M |
| Commonwealth of Pennsylvania(PA) | $278.8M |
| Governors Office(NC) | $273.6M |
| Executive Office State of Ohio(OH) | $268.6M |
| Illinois Department Commerce & Economic Opportunity(IL) | $260.5M |
Top recipients of U.S. Department of the Treasury assistance awards, FY2021–FY2025, ranked by total obligations (CFDA 21.x). Source: USAspending. Last verified July 2026.
The Department of Defense FY2026 Defense University Research Instrumentation Program (DURIP) provides funding for U.S. universities to acquire research equipment and instrumentation in areas important to national defense, including AI and machine learning hardware. The program is administered jointly by the Army Research Office (ARO), Office of Naval Research (ONR), and Air Force Office of Scientific Research (AFOSR), with approximately $34 million available and 95 awards anticipated. DURIP funds the acquisition of specialized computing hardware for AI/ML research (GPU clusters, TPUs, neuromorphic processors), robotics and autonomous systems testbeds, sensor arrays and data collection systems for machine learning training, high-performance computing infrastructure for defense-relevant AI research, and laboratory equipment for human-AI interaction studies. The program specifically supports equipment that enhances research-related education in DoD-priority disciplines. While general-purpose computing is not eligible, computing equipment directly supporting DoD-relevant AI research programs qualifies. No cost sharing is required.
Vinnova, Sweden's national innovation agency, funds projects developing applied AI solutions for Swedish industry through its Advanced Digitalization Programme. Each project can apply for between 2 and 10 million SEK (approximately $190,000 to $950,000 USD) covering up to 50% of eligible project costs. The total call budget is 60 million SEK. Projects run for 12-24 months and focus on two key areas: Intelligent Edge (AI for real-time application in the sensor chain) and AI-based decision support. All projects must address industrial needs and integrate gender equality and climate change perspectives. Scientific publications must be open access. A parallel call also funds AI and cybersecurity projects at 1-10 million SEK per project with a 50 million SEK total budget.