Interim Impact Assessment for Capital Magnet Fund Released

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The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund has released its interim impact assessment of the Capital Magnet Fund’s (CMF) inaugural round of 23 grant awardees. Launched in 2010, the CMF program provides flexible, affordable financing to support the preservation, rehabilitation and construction of affordable housing in low income communities. The report finds that the inaugural CMF awardees, including LIIF, have collectively disbursed over $62.3 million in financing to support over 7,000 affordable homes. Among the featured projects in the report is LIIF’s investment in the West End Health Center in Denver, CO and senior housing developments at Eucalyptus Park Apartments in Southern California and The Villages at Cypress in Texas. LIIF was awarded $6 million from the CMF program in 2010, receiving the the highest award of all 23 recipients.

Read the full report from the CDFI Fund

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Source: US Department of the Treasury