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More info in the Capital Magnet Fund:

Capital Magnet Fund

Establishes a Capital Magnet Fund (CMF), which will be an account within the Community Development Financial Institutions (CDFI) Fund at the Department of Treasury, which is also allowed to receive additional funding from other sources.
Eligible recipients are Treasury-certified Community Development Financial Institution or non-profits that have at least one of their purposes the development or management of affordable housing.
Eligible recipients can apply for a competitive grant through the Treasury to help develop, preserve, purchase, and rehabilitate affordable housing for mostly extremely low, very low, and low income families. Grant funds may also be used for economic development or community service facilities in conjunction with affordable housing to help stabilize a low-income or rural area.
The CMF may also be used to provide loan loss reserves, to capitalize a revolving loan fund or an affordable housing fund, or for risk-sharing loans.
Applications for the competitive grants are required to include a detailed description of the types of affordable housing, economic, and community revitalization projects the institution would use the grant for, and the anticipated time frame they intend to use it.
No institution can be awarded more than 15% of all Capital Magnet funds available for grants in that year.
The Secretary is encouraged to fund activities in rural or underserved metropolitan areas.
Among the criteria in determining which areas should be served are:
o the percentage of low income families or the extent of poverty

o the rate of unemployment or underemployment

o the extent of blight and disinvestment

o projects targeting extremely low, very low , and low income families in an area of economic distress

o or any other criteria chosen by the Secretary

Institutions receiving grants must spend the funds within two years from the date of receiving them.
Prohibited uses are political activities, advocacy, lobbying, counseling services, travel expenses, and endorsements of a particular candidate or party.
Each grantee must track its funds by issuing periodic financial and project reporting, and audit requirements. If the Secretary is not satisfied with the compliance, the grantee may receive fewer funds, have to pay the Treasury back, or have their grant terminated.
The Secretary must submit a periodic report to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services describing the activities these funds are being used for.

http://www.nlihc.org/template/page.cfm?id=40

Note that grants can go to non-profits who work in low-income housing.

So, roughly 7% of any profit made on our $700 billion will go to non-profit housing groups. Nice chunk of change.

Any profit made should be returned to the taxpayer in the form of rebates for having to risk our future on this.