Areas of Economic Distress Sample Clauses

Areas of Economic Distress. “Areas of Economic Distress” shall mean census tracts identified by the CDFI Fund, as published in a dataset for the applicable Award round on the CDFI Fund website: (a) where at least 20 percent of households that are Very Low-Income spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones under 26 U.S.C. §1400Z-1; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20 percent of households have incomes below the poverty rate and the rental vacancy rate is at least 10 percent; or (e) where greater than 20 percent of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10 percent; or (f) are Underserved Rural Areas as defined in the CMF Regulations.
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Areas of Economic Distress. “Areas of Economic Distress” shall mean census tracts: (a) where at least 20 percent of households that are Very Low-Income (50% of Area Median Income or below) spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones under 26 U.S.C. §1400Z-1; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20 percent of households have incomes below the poverty rate and the rental vacancy rate is at least 10 percent; or (e) where greater than 20 percent of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10 percent; or (f) are Underserved Rural Areas as defined in the CMF Interim Rule (as amended February 8, 2016; 12 C.F.R. Part 1807). The CDFI Fund will publish a dataset on its website indicating which census tracts are designated as Areas of Economic Distress for the applicable NOFA under this Assistance Agreement.

Related to Areas of Economic Distress

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