July 17, 2018

CDFI Fund: Updated BEA Program Eligibility Criteria Based on 2011-2015 American Community Survey Census Data

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today updated Eligibility Data for the Bank Enterprise Award Program (BEA Program).  The BEA Program Eligibility Data is being updated as part of a larger effort undertaken by the CDFI Fund to ensure that the data used to determine the eligibility for the programs that it administers is current.  The updated BEA Eligibility Data is based on more recent, Census Bureau 2011-2015 American Community Survey poverty and population data, and 2015 Bureau of Labor Statistics Current Population Survey unemployment data.

There will be a transition period for the updated BEA Program Eligibility Data.  Fiscal Year (FY) 2018 BEA Program Applicants will have the ability to use either the updated 2011-2015 BEA Eligibility Data or the legacy, 2006-2010 BEA Eligibility Data, to determine whether a transaction occurred in a qualified “BEA Distressed Community”.  Both data sets – updated and legacy – are available in the CDFI Fund’s Community Investment Mapping System and in tabular form on the CDFI Fund’s website.  Future applicants are advised that a full transition to the updated BEA Eligibility Data will take place for the FY 2019 BEA Program funding round.  Applicants applying in the FY 2019 BEA Program funding round will be required to exclusively use the updated BEA Eligibility Data to determine if a transaction or activity occurred in a qualified “BEA Distressed Community.”

Prior Award Recipients and prospective applicants are encouraged to review the BEA Program Eligibility Data Transition FAQ document.  A link has been provided below.  This document provides important information on the transition to the updated 2011-2015 BEA Eligibility Data.  A link has also been provided below to the tabular version of the updated BEA Eligibility Data.

This post was originally published here.