45 CFR §2521.70

1. (a)AmeriCorps may waive, in whole or in part, the requirements of §§ 2521.45 and 2521.60 if AmeriCorps determines that a waiver would be equitable because of a lack of available financial resources at the local level.
2. (b)If you are requesting a waiver, you must demonstrate:
   1. (1)Initial difficulties in the development of local funding sources during the first three years of operations; or
   2. (2)An economic downturn, the occurrence of a natural disaster, or similar events in the service area that severely restrict or reduce sources of local funding support; or
   3. (3)The unexpected discontinuation of local support from one or more sources that a project has relied on for a period of years; or
   4. (4)Organizational revenue of less than $500,000.
3. (c)You must provide with your waiver request:
   1. (1)A description of the efforts you have made to raise matching resources; and
   2. (2)A request for the specific amount of match you are asking AmeriCorps to waive; and
   3. (3)A budget and budget narrative that reflect the requested level in matching resources.