Cal. Code Regs. tit. 4 § 8144

Current through Register 2025 Notice Reg. No. 2, January 10, 2025

Section 8144 - Grant Awards

(a) Grants are awarded once per calendar year, provided funding is available. Each eligible Applicant, as defined in Health and Safety Code section 44558, subdivision (f), that submits a timely and complete application shall receive an award in an amount consistent with this section.

(b) The Authority shall set aside 20 percent of any amount made available in a Program funding round for small and emerging CDFIs. This funding will be divided equally among all eligible Applicants that are small and emerging CDFIs.

(c) The size of Grant awards shall be based on the total amount of loans closed by the Applicant in the most recently completed fiscal year. Funding shall be awarded based on the following tier system:

(1) Tier 1: All eligible Applicants will receive up to $100,000.

(2) Tier 2: Applicants with a minimum of 10 loans in the most recently completed fiscal year or Applicants that have provided financing assistance in the state totaling $10 million or more over the last three fiscal years will receive up to $100,000 in additional funding. The maximum Grant award for a Tier 2 Grantee is $200,000.

(d) The final funding amounts per tier may be less than the maximum Grant award depending on the funding available and the total number of eligible Applicants.

Cal. Code Regs. Tit. 4, § 8144

Note: Authority cited: Sections 44520 and 44558.4, Health & Safety Code. Reference: Section 44558.2, Health & Safety Code.

1. New section filed 8-31-2023 as an emergency; operative 8/31/2023 (Register 2023, No. 35). A Certificate of Compliance must be transmitted to OAL by 2-27-2024 or emergency language will be repealed by operation of law on the following day.
2. Certificate of compliance pursuant to Health and Safety Code section 44558.4(a) as to 8-31-2023 order, including amendments to subsections (b) and (c)(2), transmitted to OAL on 1-16-2024 and filed 2-21-2024; amendments operative 2/21/2024 pursuant to Health and Safety Code section 44558.4(a) (Register 2024, No. 8).