Applicant eligibility.

CFR · 2024-01-01 · US · Title 12

(a) (1) A Certified CDFI. An entity may meet the requirements described in this paragraph (a)(1) if it is: (i) A Certified CDFI, as set forth in 12 CFR 1805.201, (ii) A Certified CDFI that has been in existence as a legally formed entity as set forth in the applicable Notice of Funds Availability (NOFA); or (2) A Nonprofit Organization having as one of its principal purposes the development or management of affordable housing. An entity may meet the requirements described in this paragraph (a)(2) if it: (i) Has been in existence as a legally formed entity as set forth in the applicable NOFA; (ii) Demonstrates, through articles of incorporation, by-laws, or other board-approved documents, that the development or management of affordable housing are among its principal purposes; and (iii) Can demonstrate that a certain percentage, set forth in the applicable NOFA, of the Applicant's total assets are dedicated to the development or management of affordable housing. (b)

official document · source cfr-2024 · id 12:§ 1807.200