Appalachian Community Capital Corporation

DESCRIPTION:THIS AGREEMENT PROVIDES FUNDING UNDER THE INFLATION REDUCTION ACT (IRA) TO APPALACHIAN COMMUNITY CAPITAL CORPORATION. THE RECIPIENT WILL UTILIZE THE FUNDING TO REDUCE EMISSIONS OF GREENHOUSE GASES AND OTHER AIR POLLUTANTS; DELIVER BENEFITS OF GREENHOUSE GAS- AND AIR POLLUTION-REDUCING PROJECTS TO AMERICAN COMMUNITIES, PARTICULARLY LOW-INCOME AND DISADVANTAGED COMMUNITIES; AND MOBILIZE FINANCING AND PRIVATE CAPITAL TO STIMULATE ADDITIONAL DEPLOYMENT OF GREENHOUSE GAS- AND AIR POLLUTION-REDUCING PROJECTS. SPECIFICALLY, THE RECIPIENT WILL FUND CLEAN ENERGY INVESTMENTS CONSISTING OF MANY PROJECTS ACROSS DISTRIBUTED RENEWABLE ENERGY GENERATION AND STORAGE, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. IN ADDITION, THE RECIPIENT WILL UNDERTAKE ROBUST COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT. THE BENEFITS FROM THESE ACTIVITIES INCLUDE LEVERAGING LARGE AMOUNTS OF PRIVATE CAPITAL IN APPALACHIA, RURAL AMERICA, AND OTHER LOW-INCOME AND DISADVANTAGED COMMUNITIES, MARKET TRANSFORMATION BENEFITS ALLOWING FOR GREATER ACCESS TO CAPITAL, BETTER HEALTH OUTCOMES FOR AMERICANS, AND MUCH NEEDED JOB CREATION. ACTIVITIES:THE ACTIVITIES INCLUDE FUNDING CLEAN ENERGY PROJECTS THROUGH COMMUNITY LENDERS. THE TYPE OF PROJECTS INCLUDE DISTRIBUTED RENEWABLE ENERGY GENERATION, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT THROUGH TECHNICAL ASSISTANCE PASS-THROUGH GRANTS WILL ALSO BE A LARGE PART OF THE AWARD.SUBRECIPIENT:THE SUBAWARD WILL BE AWARDED TO GREEN BANK FOR RURAL AMERICA, A SUBSIDIARY OF APPALACHIAN COMMUNITY CAPITAL. THE GREEN BANK FOR RURAL AMERICA WILL BE CARRYING OUT THE ACTIVITIES LISTED IN PREVIOUS SECTIONS WHILE APPALACHIAN COMMUNITY CAPITAL WILL ACT IN AN ADMINISTRATIVE AND STEERING CAPACITY. THOSE ACTIVITIES, TO REITERATE, INCLUDE FUNDING CLEAN ENERGY PROJECTS THROUGH COMMUNITY LENDERS. THE TYPE OF PROJECTS INCLUDE DISTRIBUTED RENEWABLE ENERGY GENERATION, NET-ZERO EMISSIONS BUILDING CONSTRUCTION AND RENOVATION, AND ZERO EMISSION VEHICLES. COMMUNITY ENGAGEMENT AND WORKFORCE DEVELOPMENT THROUGH TECHNICAL ASSISTANCE PASS-THROUGH GRANTS WILL ALSO BE A LARGE PART OF THE AWARD.OUTCOMES:THE ANTICIPATED DELIVERABLES INCLUDE FINANCED CLEAN ENERGY-RELATED PROJECTS, COMMUNITY ENGAGEMENT SERVICES (INCLUDING PUBLIC AND PRIVATE CAPITAL), AND WORKFORCE DEVELOPMENT SERVICES (INCLUDING PUBLIC AND PRIVATE CAPITAL). THE EXPECTED OUTCOMES INCLUDE GREENHOUSE GAS AND OTHER POLLUTANT REDUCTION, LARGE AMOUNTS OF PRIVATE CAPITAL MOBILIZED, MANY NEW JOBS CREATED, JOB TRAINING SERVICES, AND A LARGE NETWORK OF COMMUNITY LENDERS SUPPORTED THROUGH THE AWARD. THESE OUTCOMES ARE PROJECTED TO CONTINUE AFTER THE AWARD PERIOD. THE INTENDED BENEFICIARIES INCLUDE APPALACHIAN COMMUNITIES, RURAL AND LOW-INCOME AND DISADVANTAGED COMMUNITIES NATION-WIDE, BUSINESS OWNERS, HOMEOWNERS, AND BENEFICIARIES OF AFFORDABLE HOUSING. A REDUCTION IN ENERGY BURDEN AND GREENHOUSE GASES WILL BENEFIT THE AMERICAN PUBLIC AT LARGE.

ACCESS TO CAPITAL

CDFI RAPID RESPONSE PROGRAM AWARD

ACCESS TO CAPITAL

ACCESS TO CAPITAL

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.

PURPOSE: TO PROVIDE GRANTS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) FOR THE FOLLOWING PURPOSES 1) TO EXPAND LENDING, GRANT MAKING AND INVESTMENT ACTIVITIES IN LOW OR MODERATE INCOME COMMUNITIES AND TO BORROWERS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC; AND 2) TO ENABLE CDFIS TO BUILD ORGANIZATIONAL CAPACITY AND ACQUIRE TECHNOLOGY, STAFF, AND OTHER TOOLS NECESSARY TO ACCOMPLISH THE ACTIVITIES UNDER A CDFI ERP AWARD. PLANNED ACTIVITIES: ELIGIBLE ACTIVITIES INCLUDE FINANCIAL PRODUCTS, FINANCIAL SERVICES, DEVELOPMENT SERVICES, GRANTS, LOAN LOSS RESERVES AND CAPITAL RESERVES THAT MAY BE USED TO MITIGATE THE IMPACT OF THE COVID 19 PANDEMIC ON UNEMPLOYMENT, CHILDCARE, HEALTHCARE, MENTAL HEALTHCARE, AFFORDABLE HOUSING, AFFORDABLE HOUSING FINANCE, SMALL BUSINESS, SMALL FARMS, BROADBAND INTERNET, AND FOOD SUFFICIENCY. IN ADDITION, TO SUPPORT CDFIS IN BUILDING THEIR CAPACITY TO RESPOND TO THE ECONOMIC IMPACT OF COVID 19, CDFI ERP AWARDS MAY BE USED FOR COMPENSATION PERSONAL SERVICES; COMPENSATION FRINGE BENEFITS; PROFESSIONAL SERVICE COSTS; TRAVEL COSTS; TRAINING AND EDUCATION COSTS; EQUIPMENT; SUPPLIES. END GOALS: EXPANDED FINANCING FOR LOW TO MODERATE INCOME COMMUNITIES AND INDIVIDUALS THAT HAVE HISTORICALLY EXPERIENCED SIGNIFICANT UNMET CAPITAL AND FINANCIAL SERVICES NEEDS AND WERE DISPROPORTIONATELY IMPACTED BY THE COVID 19 PANDEMIC INCLUDING SPECIFIC DESIGNATED COVID IMPACTED CDFI ERP ELIGIBLE GEOGRAPHIES AS AREAS THAT MAY BENEFIT FROM CDFI ERP ASSISTANCE. BENEFICIARIES: CERTIFIED CDFIS WHICH MAY BE FOR PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, AND OTHER PRIVATE INSTITUTION/ORGANIZATION, AS DEFINED IN 12 C.F.R. 1805, AND LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: NOT APPLICABLE.

FINANCIAL ASSISTANCE AWARD

PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.

FINANCIAL ASSISTANCE AWARD

FINANCIAL ASSISTANCE AWARD

ACCESS TO CAPITAL

RURAL COOPERATIVE DEVELOPMENT INITIATIVE GRANTS

ACCESS TO CAPITAL

ACCESS TO CAPITAL