disadvantaged communities , providing an immediate pathway to deploy projects in those communities while also building capacity of hundreds of community lenders to finance projects for years . Each of the selectees will provide capitalization funding ( typically up to $ 10 million per community lender ), technical assistance subawards ( typically up to $ 1 million per community lender ), and technical assistance services so that community lenders can provide financial assistance to deploy distributed energy , net-zero buildings , and zero-emissions transportation projects where they are needed most . 100 % of capital under the CCIA is dedicated to low-income and disadvantaged communities . Additional details on each of the five selected applicants , including the narrative proposals that were submitted to EPA as part of the application process , can be found on EPA ’ s Greenhouse Gas Reduction Fund CCIA website . The five selected applicants are :
• Opportunity Finance Network ($ 2.29 billion award ), a ~ 40-year-old nonprofit CDFI Intermediary that provides capital and capacity building for a national network of 400 + community lenders — predominantly U . S . Treasury-certified CDFI Loan Funds — which collectively hold $ 42 billion in assets and serve all 50 states , the District of Columbia , and several U . S . territories .
• Inclusiv ($ 1.87 billion award ), a ~ 50-year-old nonprofit CDFI Intermediary that provides capital and capacity building for a national network of 900 + mission-driven , regulated credit unions — which include CDFIs and financial cooperativas in Puerto Rico — that collectively manage $ 330 billion in assets and serve 23 million individuals across the country .
• Justice Climate Fund ($ 940 million award ), a purpose-built nonprofit supported by an existing ecosystem of coalition members , a national network of more than 1,200 community lenders , and ImpactAssets — an experienced nonprofit with $ 3 billion under management — to provide responsible , clean energy-focused capital and capacity building to community lenders across the country .
• Appalachian Community Capital ($ 500 million award ), a nonprofit CDFI with a decade of experience working with community lenders in Appalachian communities , which is launching the Green Bank for Rural America to deliver clean capital and capacity building assistance to hundreds of community lenders working in coal , energy , underserved rural , and Tribal communities across the United States .
• Native CDFI Network ($ 400 million award ), a nonprofit that serves as national voice and advocate for the 60 + U . S . Treasury-certified Native CDFIs , which have a presence in 27 states across rural reservation communities as well as urban communities and have a mission to address capital access challenges in Native communities . Review and Selection Process Information The eight applicants were selected through a robust process to review and select applications for each of the two competitions . The multi-staged review and selection process included dozens of federal employees — all screened through ethics and conflict of interest checks as well as trained on the program requirements and evaluation criteria — participating in the review and scoring of the selected applications through expert review panels ; interviews with senior officials ; and recommendations from an expert , interagency senior review team . Additional details on the review and selection process can be found on EPA ’ s Greenhouse Gas Reduction Fund NCIF and CCIA selection process website .
EPA anticipates that awards to the selected applicants will be finalized by July 2024 and that projects will be funded by the selected applicants and their partners shortly thereafter . Note that all of the selections are contingent on the resolution of all administrative disputes related to the competitions . Review frequently asked questions about the selection announcement , including the awards process .
EPA hosted informational webinars as part of the program ’ s commitment to public transparency . The webinars were recorded and posted on EPA ’ s GGRF webpage . l FON 28 MAY 2024 | FUEL OIL NEWS | www . fueloilnews . com