LIIF coordinated with the Capital Magnet Fund (CMF) Coalition on comments to the revised CMF Interim rule. The interim rule proposes revisions to definitions and program requirements, revisions to project-level requirements, updates to address business practices in affordable housing and the consolidation of economic development activities under a new section for a more comprehensive articulation of such criteria. The letter provides recommendations the coalition believes will make the CMF program more accessible to affordable housing providers. This includes proposed actions that are a mixture of regulatory and sub-regulatory practices.
Read the comment letter.
The CMF Coalition strongly believes that the CDFI Fund should significantly overhaul its guidance documents to generally encourage more flexibility, innovation and usage.