Capital Magnet Fund Recipients to Use Grants to Support LIHTC Projects

By Caitlin Jones
January 17, 2011 1 min read

Tax Credit Advisor, January 2011: At least two recipients of federal Capital Magnet Fund program grants plan to use the dollars to support low-income housing tax credit (LIHTC) projects under initiatives rolled out in 2011.

The New York City-based Local Initiatives Support Corporation and the Ohio Capital Finance Corporation have each been awarded a $5 million grant. In mid-October, the Community Development Financial Institutions (CDFI) Fund announced $80 million in Capital Magnet Fund grants to 23 organizations in the program’s first funding round, in which 230 applicants requested more than $1 billion.

Capital Magnet Fund program grants can be used to fund the development, preservation, or purchase of affordable housing in low-income areas, as well as community service facilities such as day care centers, workforce development centers, and health care clinics.

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.