CMF Annual Report - Private Sector and Nonprofit Recipients

The following fields and questions have been added to the CMF
reporting requirements or modified as of April 5, 2016.
CMF Excel Upload
Additional Fields in the Projects Tab
Columns J through M in the Projects tab of the Excel spreadsheet report form ask about Leveraged Costs. Leveraged
Costs are costs that exceed the CMF award which are expended on eligible Affordable Housing and Economic
Development Activities. Leveraged Costs may come from related or third party public or private sources. In Column N,
enter Total Eligible Project Costs, which includes the CMF award and Leveraged Costs.
Proj:J

Eligible Project Costs from Related Public Dollars
Optional Field
Excel Data Format:
Numeric

Proj:K

Eligible Project Costs from 3rd Party Public Dollars
Optional Field
Excel Data Format:
Numeric

Proj:L

Eligible Project Costs from Related Private Dollars
Optional Field
Excel Data Format:
Numeric

Proj:M

Eligible Project Costs from 3rd Party Private Dollars
Optional Field
Excel Data Format:
Numeric

New and Modified fields to Housing Development Data Tab
HDD:B
NEW

Rental – Number of Projected Income-Eligible Units
Conditionally Required if:
Project Type =
• Single Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
• Multi-Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
Reject and leave blank if:
Project Type =
• Economic Development Activities or Community Service Facilities
• Purchase (Assistance associated with home purchase)
Excel Data Format:
Numeric
Validations: Number of Projected Units cannot exceed 4 digits.

HDD:C

Rental – Total Number of Projected Units

Modified Conditionally Required if:

Project Type =
• Single Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
• Multi-Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
Reject and leave blank if:
Project Type =
• Economic Development Activities or Community Service Facilities
• Purchase (Assistance associated with home purchase)
Excel Data Format:
Numeric
Validations: Number of Projected Units cannot exceed 4 digits.

HDD:T

Owner-Occupied – Number of Projected Income-Eligible Units

New

Conditionally Required if:
Project Type =
• Single Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
• Multi-Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
Reject and leave blank if:
Project Type =
• Economic Development Activities or Community Service Facilities
Excel Data Format:
Numeric
Validations: Number of Projected Units cannot exceed 4 digits.

HDD:U

Owner-Occupied – Total Number of Projected Units

Modified Conditionally Required if:
Project Type =
• Single Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
• Multi-Family Housing (New Development/Rehabilitation/Preservation w/o
Rehabilitation/Preservation with Rehabilitation)
Reject and leave blank if:
Project Type =
• Economic Development Activities or Community Service Facilities
Excel Data Format:
Numeric
Validations: Number of Projected Units cannot exceed 4 digits.

Additional Questions in CIIS Interface
LEVERAGED COSTS
The purpose of the Capital Magnet Fund is to attract capital (leverage) based on the subsidy provided for CMF Projects.
To determine private and public leverage, the following questions seek to obtain estimates of the sources of the CMF

leverage (private and public) based on the balance sheet of the Awardee from the CMF award in 2010 (related leverage
l) or from third party leverage (see definitions below).
Since Total Eligible Project Costs consists of your CMF Award plus Leveraged Costs, the sum of data from questions 1, 2,
3 and 4 and your CMF Award should equal the Total Eligible Project Costs in Dollar Amounts, as outlined in the sample
formula below:
Leveraged Costs (Q1 + Q2 + Q3 + Q 4) + CMF Award = Total Eligible Project Costs ($)
Related Leverage: Any leverage capital, excluding the CMF Award, provided by the Recipient, its Subsidiaries or Affiliates
(as defined in CMF Interim Rule § 1807.104) is considered leverage provided from a related source, if that capital is
sourced from the organization’s unrestricted funds (i.e., held by the organization as of the date the 2016 CMF NOFA was
published, February 8, 2016), such as retained earnings, fee income, etc.
Third party Leverage: Capital sourced from any other entity would be considered third party leverage. Examples of third
party leverage include a commitment for a bank loan, or a grant commitment from local government or a foundation
that is restricted for use for Eligible Activities or Projects proposed by the Recipient.
1. How much of your total Eligible Project Costs came from related public sources of capital?
•

Related Public sources of capital include funds to the CMF recipient, its subsidiaries or affiliates from
federal programs other than the CMF program or any other CDFI Fund program* such as RHS Section
515 loans, HOME Funds, CDBG Funds, FHA-insured loans, HOPE VI development funds, and other federal
housing program supports, and all public state and local sources.

2. How much of your total Eligible Project Costs came from related private sources of capital?
•

3.

Related Private sources of capital include funds to the CMF recipient, its subsidiaries or affiliates such as
bank loans, non-governmental grants, institutional or individual philanthropic grants or loans, and
private equity investments that may be used for the Low Income Housing Tax Credit (LIHTC).

How much of your total Eligible Project Costs came from third party public sources of capital?
•

Third party public sources of capital include funds from entities other than the CMF recipient, its
subsidiaries or affiliates that are from federal programs other than CMF or any other CDFI Fund
program* or are from state or local government sources.

4. How much of your total Eligible Project Costs came from third party private sources of capital?
•

Third party private sources of capital include private funds from entities other than the CMF recipient, its
subsidiaries or affiliates, such as bank loans, non-governmental grants, institutional or individual
philanthropic grants or loans, and private equity investments that may be used for the Low Income
Housing Tax Credit (LIHTC).
*Guidance on limitations with other CDFI Fund program award funding
For guidance in answering these questions please consult Question 35 of the compliance FAQ for the
2010 CMF awardees: “Are there any limitations with respect to using CMF awards in conjunction with
other CDFI Fund program awards?” The CDFI Fund wants to ensure that those CMF Awardees, and any of
its Subsidiaries or Affiliates, that are prior Awardees/Allocatees under any other CDFI Fund programs do
not use funding for activities that are the same for which the Awardee received an award under another
CDFI Fund program. For the FY 2010 funding round, the CDFI Fund has interpreted this prohibition on a
property basis. This rule is intended to prevent Awardees from using their CMF award on projects, when
measured in terms of Eligible Project Costs, which also use funds from their other CDFI Fund programs.