Feb. 27, 2024: Gain an Edge in Competitive FY 2024 Capital Magnet Fund Application Round

The fiscal year (FY) 2024 round of the Capital Magnet Fund (CMF) opened Feb. 15. Approximately $250 million in cash awards is available to Community Development Financial Institutions and qualified nonprofit housing groups to fund the development, renovation and preservation of affordable rental housing and homeownership. In this week's episode of Tax Credit Tuesday, host Michael Novogradac, CPA, and guests Brent Parker, CPA, and Amanda Read, CPA, discuss the 2024 round of the CMF. The group provides basic information for prior awardees, prior unsuccessful applicants and those curious about applying this year. Later, the discussion includes deeper information about the application process and tips for how to gain an edge in a funding application process where roughly one-third of applicants succeed.