49. Does an Applicant that serves both Metro and non-Metro customized Investment Areas (or non-Metro county or parish Investment Areas) need to meet the 75% or 85% threshold for qualifying tracts?

FAQ Question
49. Does an Applicant that serves both Metro and non-Metro customized Investment Areas (or non-Metro county or parish Investment Areas) need to meet the 75% or 85% threshold for qualifying tracts?
FAQ Answer

Prior to October 1, 2027, an Applicant that serves a Metro customized Investment Area and also serves a non-Metro customized Investment Area (or a non-Metro county or parish Investment Area) must:

  • direct at least 85% of its Metro customized Investment Area financing activity within the individually qualified census tracts of any Metro customized Investment Area for activity in the non-qualifying tracts of the Metro customized Investment Area to count toward the 60% Target Market benchmark; and
  • direct at least 75% of its non-Metro customized Investment Area, county, or parish Financial Product and/or Financial Services activity within the individually qualified census tracts of the respective non-Metro geography for activity in non-qualifying tracts of the non-Metro geography to count toward the 60% Target Market benchmark.

Beginning October 1, 2027, an Applicant that serves any customized Investment Area, regardless of Metro status, or any non-Metro county or parish Investment Area, must direct at least 85% of its customized Investment Area or non-Metro county or parish Investment Area Financial Products and/or Financial Services activity within the individually qualified census tracts of the respective geography for activity in the non-qualifying tracts of the geography to count toward the 60% Target Market benchmark.

See Question 48 for additional discussion about customized Investment Area Target Market benchmark requirements.