On September 22, 2016, the US Treasury Department announced through the CDFI Fund that Community Housing Capital (CHC) was among 23 Community Development Financial Institutions (CDFIs) to receive an award from the 2016 Capital Magnet Fund. The $3,750,000 award will be used to help finance the development and preservation of affordable housing for low- to extremely low-income families.
The Capital Magnet Fund provides competitively awarded equity grants to CDFIs and qualified nonprofit housing organizations to develop, rehabilitate, preserve, and purchase affordable housing. "Affordable housing remains out of reach for far too many Americans," said Antonio Weiss, counselor to Treasury Secretary Jacob J. Lew. "This funding will enable organizations across the country to expand access to affordable housing and help meet the critical needs of thousands of families."