45 CFR §2521.70 — To what extent may AmeriCorps waive the matching requirements in §§ 2521.45 and 2521.60 of this part?

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.