§1807.800. Evaluation and selection—general.
12 C.F.R. § 1807.800
Each Applicant will be evaluated and selected, at the sole discretion of the CDFI Fund, to receive a CMF Award based on a review process that will include a paper or electronic Application, and may include an interview(s) and/or site visit(s), and that is intended to:
Ensure that Applicants are evaluated in a fair and consistent manner based on the criteria outlined in the NOFA;
Ensure that each Recipient can successfully meet its performance goals and achieve Affordable Housing Activity and Economic Development Activity impacts;
Ensure that Recipients represent a geographically diverse group of Applicants serving Metropolitan Areas and Rural Areas across the United States to address economic distress. Criteria of economic distress may include:
The percentage of Low-Income Families or the extent of poverty;
The rate of unemployment or underemployment;
The extent of disinvestment;
Economic Development Activities that target Extremely Low-Income, Very Low-Income, and Low-Income Families within the Recipient's Service Area; and
Any other criteria the CDFI Fund shall set forth in the applicable NOFA; and
Take into consideration other factors as set forth in the applicable NOFA.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 4569.
Source
Source: 89 FR 53015, June 25, 2024, unless otherwise noted.