Section 1940.585 - Community Facility loans(a)Amount available for allocations. See § 1940.552(a) of this subpart.(b)Basic formula criteria, data source and weight. See § 1940.552(b) of this subpart.(1) The criteria used in the basic formula are:(i) State's percentage of national rural population-50 percent.(ii) State's percentage of national rural population with incomes below the poverty level-25 percent.(iii) State's percentage of national nonmetropolitan unemployment-25 percent.(2) The data source for the first criterion is the most recent decennial Census data. The data source for the second and third criteria is the 5-year data from the American Community Survey (ACS). Each criterion is assigned a specific weight according to its relevance in determining need. The percentage representing each criterion is multiplied by the weight factor and summed to arrive at a State factor (SF). The SF cannot exceed 0.05. Equation 1 to Paragraph (b)
SF = (criterion (b)(1)(i) * 50 percent) + (criterion (b)(1)(ii) * 25 percent) + (criterion (b)(1)(iii) * 25 percent)
(c)Basic formula allocation. See § 1940.552(c) of this subpart. States receiving administrative allocations do not receive formula allocations.(d)Transition formula. See § 1940.552(d) of this subpart. The percentage range for the transition formula equals 30 percent (±15%).(e)Base allocation. See § 1940.552(e) of this subpart. States receiving administrative allocations do not receive base allocations.(f)Administrative allocation. See § 1940.552(f) of this subpart. States participating in the formula base allocation procedures do not receive administrative allocations.(g)Reserve. See § 1940.552(g) of this subpart. States may request funds by forwarding a completed copy of guide 26 of subpart A of part 1942 of this chapter (available in any Rural Development office), to the National Office. Generally, a request for additional funds will not be honored unless the State has insufficient funds to obligate the loan requested.(h)Pooling of funds. See § 1940.552(h) of this subpart. Funds are generally pooled at mid-year and year-end. Pooled funds will be placed in the National Office reserve and will be made available administratively.(i)Availability of the allocation. See § 1940.552(i) of this subpart. The allocation of funds is made available for States to obligate on an annual basis although the Office of Management and Budget apportions it to the Agency on a quarterly basis.(j)Suballocation by the State Director. See § 1940.552(j) of this subpart. State Director has the option to suballocate to District Offices.(k)Other documentation. Not applicable.50 FR 24180, June 10, 1985, as amended at 58 FR 54485, Oct. 22, 1993; 80 FR 9877, Feb. 24, 2015; 89 FR 34961, May 1, 2024