U.S. Department of the Treasury Announces Awards to Support Development of 26,400 Affordable Housing Units

WASHINGTON – The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today awarded 48 organizations $246.4 million for the development of affordable housing and community facilities serving low-income, families and communities that need additional investment. These awards were made through the fiscal year (FY) 2024 round of the Capital Magnet Fund (CMF). The awards will support financing for the preservation, rehabilitation, development, or purchase of affordable housing, as well as related economic development facilities, including day care centers, workforce development centers, and health care clinics.“Today’s awards will increase affordable housing supply and expand access to child care and health care for families across America,” said Secretary of the Treasury Janet L.