California Code of Regulations
Title 4 - Business Regulations
Division 11 - California Pollution Control Financing Authority
Article 13 - California Investment and Innovation Program
Section 8144 - Grant Awards

Universal Citation: 4 CA Code of Regs 8144

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(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.

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

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

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