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Washington
CDFI Fund seeks reviewers for CMF applications
WASHINGTON (3/11/10)--The Community Development Financial Institutions (CDFI) Fund this week announced that it is seeking assistance in its upcoming review of Capital Magnet Fund (CMF) applicants for fiscal 2010. The CMF program provides “competitively awarded grants to CDFIs and qualified nonprofit housing organizations to finance affordable housing and related community and economic development activities,” according to the CDFI Fund. According to the release, application reviewers must have “considerable expertise in the finance and development of affordable housing as well as community facilities and economic development activities.” Employees, partners or affiliates of organizations that have applied for access to funding or could potentially receive funding from a CDFI may not serve as applicant reviewers. These reviewers, once selected, will evaluate the “business strategy, leveraging strategy, community impacts, and organizational capacity” of applicants, as well as other factors. The review process will begin in May and will last for around one month. The CDFI Fund may also seek out assistance for a second round of CMF application reviews that would begin around midyear. For more on the CMF review program, use the resource link.
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