Overview
This public law established the CMF Program in 2008.
What is the Housing and Economic Recovery Act (HERA)?
CMF award dollars are capped at supporting units at this income level.
What is 120% area median income?
The combination of the CMF Award and Leveraged Costs make up this total for the CMF Program.
What are Eligible Project Costs?
This is the length of time the CDFI Fund reviews for applicant track records.
What is 5 years?
These two entity types are eligible for CMF.
What are Certified CDFIs and nonprofit housing organizations?
CMF is funded by proceeds from these two entities.
What are Fannie Mae and Freddie Mac?
Housing units restricted for households earning 80% AMI or below are considered to fall into this income category.
What is low-income?
This type of leverage is comprised of grants, loans, or other investments to the Applicant from state, local, or other federal government programs.
What is public leverage?
These are the three accounts that are required for a CMF applicant.
What are SAM.gov, Grants.gov, and AMIS?
Entities that have been in existence for less than this amount of time are ineligible for CMF.
What is three years?
The first CMF application round was launched in this year.
What is 2010?
Households that earn 30% AMI or below are considered to be in this income category.
What is extremely low-income?
Redeploying repaid CMF Award dollars and/or Enterprise Level capital into additional projects is this type of leverage.
What is reinvestment leverage?
This is the percentage of award dollars that can be used to support related economic development activity.
What is 30%?
What is a nonprofit housing organization?
CMF applicants can request up to this amount of CMF funding.
What is 15% of the total available funds?
This is the length of time CMF-funded units are required to maintain affordability.
What is 10 years?
This is the period in which recipients are required to reinvest any principal/equity repayments of CMF Award dollars into eligible activities
What is the Investment Period?
This form is submitted in Grants.gov and signals an applicant's intent to apply for CMF.
What is the Standard Form-424 (SF-424)?
This type of organization that engages in lobbying activities is not eligible to receive a CMF award.
What is a 501(c)(4) organization?
CMF's primary goal is to attract what type of investment into affordable housing?
What is private investment?
This is the percentage of rental units that must be restricted to households earning 50% AMI or below.
What is 20%?
LIHTC investor capital is considered this type of leverage.
What is private and/or project-level capital?
This is the typical length of time a CMF application round is open.
What is 8 weeks?
Any applicant that has defaulted on a CDFI Program loan within this time period of the Application deadline is not eligible to apply for CMF.
What is 5 years?