# Invariant-output allowlist — every prose line that is IDENTICAL ACROSS ALL
# FOUR DISJOINT SCENARIOS ONCE INTERPOLATED VALUES ARE MASKED.
#
# Format:  CATEGORY | justification | the exact masked line
#
#   HEADING  structural title or table-of-contents entry
#   LABEL    column header, row label or field name
#   PLACEHO  [CDE TO COMPLETE] / [NARRATIVE PLACEHOLDER] text, or a wrapped
#            continuation of one — the absence of a claim
#   SOURCED  statutory or published constant carrying its citation in-line
#   TOOL     a statement about this tool, not about the CDE
#   FORMAT   scaffolding with no propositional content
#   DERIVED  a fixed sentence FRAME whose every figure is computed from the
#            CDE's own inputs. New in this revision, and the reason the list
#            grew: under byte-identity these lines never appeared, because the
#            interpolated value made every scenario differ.
#
# WHY THIS FILE GREW FROM 116 TO 172 ENTRIES
#
# The gate used to intersect RAW lines, so interpolating any CDE value into a
# sentence hid the sentence from it. Four blockers lived in that gap at once,
# including
#
#     f"All {total_projects} projects have completed preliminary underwriting
#      review."
#
# — invariant in substance, variable in bytes, invisible for six rounds. The
# gate now masks interpolated values (see _mask in test_invariant_output.py)
# before intersecting, so a sentence that says the same thing with different
# nouns is recognised as the same sentence. The 56 lines that appeared as a
# result are not new output; they are output that was always there and never
# had to be justified.
#
# READING THIS FILE IS THE HIGHEST-VALUE REVIEW ON THIS PACKAGE. Every line
# below is something the tool says to the CDFI Fund about every CDE that ever
# runs it. If a line here is not defensible for ALL of them, it is a defect.
#
# DERIVED IS NOT A RUBBER STAMP. It means: the frame is fixed, and the numbers
# in it come from the CDE. If a DERIVED frame ever describes its numbers as
# something they are not — a threshold as a percentile, a partial denominator
# as a whole one — it is the same defect class this gate exists to catch, and
# the category will not save it.
#
DERIVED | contact line rendered from the CDE's own profile fields | Contact: Contact N | cN@example.org |
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **CDE Fee Income ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Estimated Investor Equity ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Net Subsidy to QALICBs ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total Jobs to Be Created:** N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total Leverage Loans ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total NMTCs Generated ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total Pipeline QEI ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total Prior Allocation ($):** $N
DERIVED | deal-economics / pipeline-overview row: fixed label, value computed from the CDE's own pipeline | **Total Projects in Pipeline:** N
DERIVED | distress-commitments row: fixed label, share computed from the CDE's own pipeline | **% QEI in Deep/Severe Distress:** N%
DERIVED | distress-commitments row: fixed label, share computed from the CDE's own pipeline | **QEI in Deep/Severely Distressed Tracts:** N%
DERIVED | distress-commitments row: fixed label, share computed from the CDE's own pipeline | **QEI in High Migration Rural (HMR) Tracts:** N%
DERIVED | distress-commitments row: fixed label, share computed from the CDE's own pipeline | **QEI in LIC (Standard Eligible) Tracts:** N%
DERIVED | distress-commitments row: fixed label, share computed from the CDE's own pipeline | **QEI in NMTC Native Areas:** N%
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **<CDE> Commitment (Deep/Severe):** N%
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **Allocation Requested ($):** $N
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **CDE Certification Date:** <DATE>
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **Prior Allocations Received:** N
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **Rounds Fully Deployed:** N
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | **Sector Diversity Score:** N/N
DERIVED | fixed label, value computed from or copied out of the CDE's own inputs | Validation Pass Rate: N/N
DERIVED | governance row. Defaulted to a fabricated "Quarterly" until 1.2.0; now N/A like every sibling row. THIS IS THE LINE THE FIVE-WORD THRESHOLD HID | **Board Meeting Frequency:** N/A
DERIVED | impact bullet; the square-footage figure is the CDE's own. '<SECTOR>' is a mask artifact - the phrase 'community facility' here is descriptive prose that happens to collide with a sector value in the fixtures | • N sq ft of <SECTOR> / commercial space
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | <CDE> requests $N million in New Markets Tax Credit allocation for CYN. Our N-project pipeline spans N states, with N% of QEI committed to deep and severely distressed census tracts.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | <CDE> respectfully requests $NMM in New Markets Tax Credit allocation for application round CYN. Our N-project pipeline spans N states with **N% of QEI committed to deep/severely distressed tracts**.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | <CDE> targets a CYN award.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | <CDE> was certified as a Community Development Entity by the CDFI Fund on <DATE>. Since certification, the organization has received N NMTC allocation awards totaling $N of which N are recorded as fully deployed.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | <CDE> will deploy $N million in NMTC allocation across N projects in N states — targeting N% of QEI in deep and severely distressed census tracts. The pipeline's largest sector concentration is <SECTOR>.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | N. Leverage Lender provides senior debt (approx. $NMM total)
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | N. Net subsidy to QALICBs: $NMM
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | N. Tax Credit Investor contributes equity ($NMM)
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | The N projects in <CDE>'s pipeline will produce the following direct community impacts upon project completion:
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | tracts. The pipeline's largest sector concentration is <SECTOR>.
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs |  N permanent full-time-equivalent jobs created  N existing jobs retained  N
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | • N affordable or mixed-income housing units developed
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | • N existing jobs retained
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | • N jobs per $NMM of QEI deployed
DERIVED | narrative frame; every figure in it is computed from the CDE's own inputs | • N permanent full-time-equivalent jobs created
DERIVED | quotes the CDE's own mission field back verbatim; asserts nothing about it | <CDE>'s stated mission is: "<MISSION>"
DERIVED | state count computed from the CDE's own pipeline | Pipeline footprint: N states.
FORMAT | cross-reference describing where the rest of the document is | Full N-column pipeline detail (deal economics, QLICI structure, timeline) is provided in the accompanying Excel workbook, Pipeline Detail tab. The landscape pages below contain key pipeline fields for reference.
FORMAT | cross-reference to the Excel attachment | Full impact detail (units, square footage, OZ/HMR flags) is provided in the accompanying Excel workbook, Impact Projections tab.
FORMAT | cross-reference to the Excel attachment | Full impact detail is in the Excel attachment.
FORMAT | document header/footer handling marking, not content | CONFIDENTIAL — Prepared for CDFI Fund Review Only | Do Not Distribute Without CDE Authorization
FORMAT | document header/footer/table scaffolding; no propositional content | <CDE> | CYN | Generated N-N-N
FORMAT | document header/footer/table scaffolding; no propositional content | <CDE> — NMTC CYN Application | CONFIDENTIAL
FORMAT | document header/footer/table scaffolding; no propositional content | <CDE> — NMTC CYN | CONFIDENTIAL
FORMAT | document header/footer/table scaffolding; no propositional content | CONFIDENTIAL — <CDE> — NMTC CYN — Generated N-N-N
FORMAT | document header/footer/table scaffolding; no propositional content | | <CDE> — NMTC CYN Application | CONFIDENTIAL
FORMAT | document header/footer/table scaffolding; no propositional content | | SUMMARY | N total projects | | | N/N | | N/N (N%) | N/N | | | | | | | |
FORMAT | Appendix C totals row. The share column is now a formatted string ("100.0%"), so the masked form carries N% where it used to carry a bare N — that is the fix to the fraction-under-a-percent-header defect showing through the mask, not new output | | TOTAL | N | N | N% | N | N | N | N |
FORMAT | document header/footer/table scaffolding; no propositional content | | TOTALS | N Projects | | | | N | N | N | N | N | N | N | N | N | | | | |
FORMAT | document header/footer/table scaffolding; no propositional content | | TOTALS | | TOTAL (N projects) | | | | | | | | | | | | | N | N | N | N | N | N | N | N | N | | N | | | | N | N | N | N |
FORMAT | markdown table rule; no propositional content | | --- | --- | --- | --- | --- | --- | --- | --- |
FORMAT | markdown table rule; no propositional content | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
FORMAT | markdown table rule; no propositional content | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
FORMAT | markdown table rule; no propositional content | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
FORMAT | wrapped continuation of a cross-reference to the Excel attachment | Excel workbook, Pipeline Detail tab.
FORMAT | wrapped cross-reference to the Excel attachment | Full N-column pipeline detail (deal economics, QLICI structure, timeline) is provided in the accompanying
HEADING | Section A subsection heading | QEI Deployment Strategy and Timeline
HEADING | Section A subsection heading | Target Markets — Geographic and Demographic
HEADING | Section C subsection heading | Track Record — Prior NMTC Deployments
HEADING | Section C subsection heading | Underwriting Process and Internal Controls
HEADING | appendix continuation heading | Appendix A (continued): Pipeline Detail — Full View
HEADING | appendix heading | Appendix E: CDE Track Record
HEADING | document title | NEW MARKETS TAX CREDIT ALLOCATION APPLICATION
HEADING | section heading | Section E: Prior Awards — Deployment History
HEADING | section, appendix or subsection title | Aggregate Community Impact Projections
HEADING | section, appendix or subsection title | Appendix A: Pipeline Detail
HEADING | section, appendix or subsection title | Appendix B: Distress Documentation
HEADING | section, appendix or subsection title | Appendix C: Geographic Targeting
HEADING | section, appendix or subsection title | Appendix D: Impact Projections
HEADING | section, appendix or subsection title | CDE History and Certification
HEADING | section, appendix or subsection title | Governance and Organizational Structure
HEADING | section, appendix or subsection title | Investment Thesis and Strategy
HEADING | section, appendix or subsection title | Investor Strategy and Relationships
HEADING | section, appendix or subsection title | Key Personnel and Qualifications
HEADING | section, appendix or subsection title | Long-Term Community Impact Strategy
HEADING | section, appendix or subsection title | Section A: Business Strategy
HEADING | section, appendix or subsection title | Section B: Community Outcomes
HEADING | section, appendix or subsection title | Section C: Management Capacity
HEADING | section, appendix or subsection title | Section D: Capitalization Strategy
HEADING | section, appendix or subsection title | Section D: Investor Commitments
HEADING | table-of-contents link | - [Appendix A: Pipeline Detail](#appendix-a)
HEADING | table-of-contents link | - [Appendix B: Distress Documentation](#appendix-b)
HEADING | table-of-contents link | - [Appendix C: Geographic Targeting](#appendix-c)
HEADING | table-of-contents link | - [Appendix D: Impact Projections](#appendix-d)
HEADING | table-of-contents link | - [Appendix E: Track Record](#appendix-e)
HEADING | table-of-contents link | - [Section A: Business Strategy](#section-a)
HEADING | table-of-contents link | - [Section B: Community Outcomes](#section-b)
HEADING | table-of-contents link | - [Section C: Management Capacity](#section-c)
HEADING | table-of-contents link | - [Section D: Capitalization Strategy](#section-d)
HEADING | table-of-contents link | - [Section E: Prior Awards — Deployment History](#section-e)
LABEL | column header / row label; names a field, asserts nothing | Annual Operating Budget ($)
LABEL | column header / row label; names a field, asserts nothing | Assumed Credit Price ($/NMTC)
LABEL | column header / row label; names a field, asserts nothing | Estimated Investor Equity ($)
LABEL | column header / row label; names a field, asserts nothing | High Migration Rural (HMR)
LABEL | column header / row label; names a field, asserts nothing | High Migration Rural (Y/N)
LABEL | column header / row label; names a field, asserts nothing | Total NMTC Allocation Requested
LABEL | column header / row label; names a field, asserts nothing | Total NMTCs Generated ($)
LABEL | column header / row label; names a field, asserts nothing | Total Prior Allocation ($)
LABEL | column header / row label; names a field, asserts nothing | Total Projects in Pipeline
LABEL | cross-reference to an attachment, not a claim | (See Attachment: Impact Projections Table)
LABEL | cross-reference to an attachment, not a claim | (See Attachment: Investor Commitments Table)
LABEL | cross-reference to an attachment, not a claim | (See Attachment: Track Record Table)
LABEL | deal-economics row label; the dollar figure beside it varies | Net Subsidy to QALICBs ($)
LABEL | distress-commitments row label; value varies | QEI in Deep/Severely Distressed Tracts
LABEL | distress-commitments row label; value varies | QEI in High Migration Rural (HMR) Tracts
LABEL | distress-commitments row label; value varies | QEI in LIC (Standard Eligible) Tracts
LABEL | heading for the recommendations list; the recommendations under it vary | **Recommended Improvements Before Submission:**
LABEL | impact table column label; the count beside it varies | Affordable Units to Be Built
LABEL | introduces the numbered structure list; the steps under it carry the figures and vary | Each transaction will utilize a standard leveraged NMTC structure:
LABEL | row label in Section A's pipeline overview; the value beside it varies | % QEI in Deep/Severe Distress
LABEL | table header row; column names, no assertion about the CDE | | Project ID | Project Name | City, State | Census Tract (GEOID) | NMTC Eligible | Distress Level | Severely Distressed Flag | NMTC Native Area | High Migration Rural (HMR) | Opportunity Zone | Poverty Rate (%) | Median Family Income | Unemployment Rate (%) | Data Source | ACS Vintage |
LABEL | table header row; column names, no assertion about the CDE | | Project ID | Project Name | State | Sector | Project Type | QEI ($) | Total Project Cost ($) | Jobs Created | Jobs Retained | Total Jobs | Cost per Job ($) | QEI per Job ($) | Affordable Units | Commercial Sq Ft | Distress Level | Native Area | HMR | OZ |
LABEL | table header row; column names, no assertion about the CDE | | Project ID | QALICB Name | Project Name | Street Address | City | State | ZIP Code | Census Tract (N-digit) | NMTC Eligible (Y/N) | Distress Level | NMTC Native Area (Y/N) | High Migration Rural (Y/N) | Opportunity Zone (Y/N) | Sector (as supplied) | Project Type | Total Project Cost ($) | QEI Request ($) | QLICI A Loan ($) | QLICI B Loan ($) | Leverage Loan ($) | Total NMTCs ($) | Estimated Investor Equity ($) | CDE Fee ($) | Senior Debt ($) | Subordinate Debt ($) | Annual Operating Budget ($) | Construction Start | Operations Start | Closing Target Date | Jobs Created | Jobs Retained | Affordable Units Built | Square Feet |
LABEL | table header row; column names, no assertion about the CDE | | State | Project Count | QEI ($) | QEI (% of Total) | Deep/Severe Projects | Native Area Projects | HMR Projects | OZ Projects |
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | [CDE TO COMPLETE: State your deployment timeline and the diligence status of
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | [CDE TO COMPLETE: State your deployment timeline and the diligence status of each project — when you expect to close the first tranche, how the rest are sequenced, and how far each project has actually progressed through your underwriting. This tool holds neither: your pipeline submission records project economics and locations, not diligence milestones or target closing dates. Do not assert that a project has cleared underwriting review unless it has.]
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | assert that a project has cleared underwriting review unless it has.]
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | each project — when you expect to close the first tranche, how the rest are
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | economics and locations, not diligence milestones or target closing dates. Do not
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | sequenced, and how far each project has actually progressed through your
PLACEHO | [CDE TO COMPLETE] deployment/diligence block, or a wrapped continuation of it — the absence of a claim | underwriting. This tool holds neither: your pipeline submission records project
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | All narrative sections marked \[NARRATIVE PLACEHOLDER\] require review and customization before submission.
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | CDE and supplies no figure in it — not a name, a type, a CRA obligation, a commitment amount, a credit
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | CDFI Fund, and delete any row you cannot.] (See Attachment: Investor Commitments Table)
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | No number may be entered here without a citation the CDE controls and can defend to
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Describe your CDE's underwriting process end to end — initial
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Describe your CDE's underwriting process end to end — initial screening and how eligibility is established, impact assessment, financial underwriting and credit criteria, your investment committee's composition and approval threshold, and your compliance-monitoring practice over the seven-year period. This tool holds none of these: your CDE profile records a board headcount, which is not an approval rule, and nothing in it describes a control you actually operate.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Describe your actual investor relationships and their current
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Describe your actual investor relationships and their current status — named institutions where you have them, whether each is a term sheet, a letter of intent, a prior-round investor or a prospect, and who is expected to lead. This tool has no investor data for your CDE and cannot attest to any relationship, to investor motivation, or to how many investors will participate.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Document unmet capital need in the markets this pipeline
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: Document unmet capital need in the markets this pipeline serves. Supply the underlying evidence and cite each source by name, publisher and vintage — for example credit-access or lending data for your tracts, unemployment and poverty measures, business closures or disinvestment history, and community input gathered by your CDE. nmtc-application-builder does not compute, retrieve or verify community-need statistics of any kind, and supplies no figure for this subsection. No number may be entered here without a citation the CDE controls and can defend to the CDFI Fund.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: This table is a blank form. nmtc-application-builder holds no investor data for your
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: This table is a blank form. nmtc-application-builder holds no investor data for your CDE and supplies no figure in it — not a name, a type, a CRA obligation, a commitment amount, a credit price or a status, and not the number of rows. Add one row per investor you can name and defend to the CDFI Fund, and delete any row you cannot.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [CDE TO COMPLETE: investor name]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | [NARRATIVE PLACEHOLDER — Replace this text with your CDE's specific information. CDFI Fund reviewers score on specificity, evidence, and alignment with community need. Length is governed by the limit printed on the published application form for this question, which this tool does not encode — check the form, not this draft.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | and credit criteria, your investment committee's composition and approval threshold,
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | and poverty measures, business closures or disinvestment history, and community
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | and your compliance-monitoring practice over the seven-year period. This tool holds
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | community need. Length is governed by the limit printed on the published application
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | form for this question, which this tool does not encode — check the form, not this
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | information. CDFI Fund reviewers score on specificity, evidence, and alignment with
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | input gathered by your CDE. nmtc-application-builder does not compute, retrieve or
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | investor motivation, or to how many investors will participate.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | letter of intent, a prior-round investor or a prospect, and who is expected to lead. This
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | none of these: your CDE profile records a board headcount, which is not an approval
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | price or a status, and not the number of rows. Add one row per investor you can name and defend to the
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | rule, and nothing in it describes a control you actually operate.]
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | screening and how eligibility is established, impact assessment, financial underwriting
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | serves. Supply the underlying evidence and cite each source by name, publisher and
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | status — named institutions where you have them, whether each is a term sheet, a
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | tool has no investor data for your CDE and cannot attest to any relationship, to
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | verify community-need statistics of any kind, and supplies no figure for this subsection.
PLACEHO | placeholder / its wrapped continuation — the absence of a claim, not a claim | vintage — for example credit-access or lending data for your tracts, unemployment
SOURCED | CY 2024-2025 NMTC Program Review Process, 'Targeting Areas of Higher Distress (Question 25)', quoted verbatim: 'at least 85% of its QLICIs in specified areas of severe distress and/or areas characterized by multiple indicia of distress ... at least 20% of its QLICIs to "Deep Distress" areas'. Both figures and the round are carried in the line itself. | **CDFI Fund Higher-Distress Commitment (CY N-N):** N% of QLICIs in areas of severe distress and/or multiple indicia of distress, and N% in Deep Distress areas (CY N-N NMTC Program Review Process, Targeting Areas of Higher Distress, Question N; the CY N NOAA is not yet published)
SOURCED | CY 2024-2025 NMTC Program Review Process, 'Targeting Areas of Higher Distress (Question 25)', quoted verbatim: 'at least 85% of its QLICIs in specified areas of severe distress and/or areas characterized by multiple indicia of distress ... at least 20% of its QLICIs to "Deep Distress" areas'. Both figures and the round are carried in the line itself. | CDFI Fund Higher-Distress Commitment (CY N-N)
SOURCED | CY 2024-2025 NMTC Program Review Process, 'Targeting Areas of Higher Distress (Question 25)', quoted verbatim: 'at least 85% of its QLICIs in specified areas of severe distress and/or areas characterized by multiple indicia of distress ... at least 20% of its QLICIs to "Deep Distress" areas'. Both figures and the round are carried in the line itself. | N% of QLICIs in areas of severe distress and/or multiple indicia of distress, and N% in Deep Distress areas (CY N-N NMTC Program Review Process, Targeting Areas of Higher Distress, Question N; the CY N NOAA is not yet published)
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | DISTRESS LEVELS (verbatim from the CDFI Fund NMTC LIC Eligibility workbook,
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | DISTRESS LEVELS (verbatim from the CDFI Fund NMTC LIC Eligibility workbook, N-N ACS, columns N and N — the file this tool loads to classify every tract): Severe distress = LIC AND (Poverty>N%; MFI<=N%; Unemployment>=N). Deep distress = LIC AND (Poverty>N%; MFI<=N%; Unemployment>=N). The semicolons are ORs; both tiers additionally require the tract to be a Low-Income Community. NMTC rounds are announced by a NOAA — Notice of Allocation Availability — and the CY N NOAA is not yet published.
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | N-N ACS, columns N and N — the file this tool loads to classify every tract):
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | Severe distress = LIC AND (Poverty>N%; MFI<=N%; Unemployment>=N). Deep
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | are ORs; both tiers additionally require the tract to be a Low-Income Community.
SOURCED | distress definitions quoted VERBATIM from CDFI Fund NMTC LIC Eligibility workbook cols 14-15, the file this tool loads; verified against the .xlsb on disk | distress = LIC AND (Poverty>N%; MFI<=N%; Unemployment>=N). The semicolons
SOURCED | labelled in-line as this model's assumption, explicitly disclaimed as not a Fund parameter | **Assumed CDE Fee Rate:** N% of QEI (market assumption, not a CDFI Fund parameter)
SOURCED | labelled in-line as this model's assumption, explicitly disclaimed as not a Fund parameter | **Assumed Credit Price ($/NMTC):** $N (market assumption, not a CDFI Fund parameter)
SOURCED | methodology note naming the library and every assumption it used | DEAL ECONOMICS: Computed using nmtc-calc library. Standard leveraged NMTC structure with credit price $N/credit, CDE fee N% of QEI, N-year compliance period.
SOURCED | names the dataset and vintage actually loaded; suppressed on the degraded path | - Eligibility data: CDFI Fund NMTC Eligibility Table, N–N ACS N-Year Estimates
SOURCED | names the dataset and vintage; suppressed when the download failed | ELIGIBILITY: CDFI Fund NMTC Eligibility Table, N–N ACS N-Year Estimates.
SOURCED | names the dataset, its vintage and the statute; suppressed when the download failed | ELIGIBILITY: CDFI Fund NMTC Eligibility Table using N–N ACS N-Year Estimates. Tract eligibility determined by Low Income Community (LIC) criteria per IRC §ND.
SOURCED | per-row data-source citation; only emitted on rows that carry that data | CDFI Fund NMTC Eligibility Table (N–N ACS)
SOURCED | statutory: the NMTC compliance period is set by IRC 45D, cited in-line | **Compliance Period:** N years (IRC §ND)
SOURCED | this model's market assumption, disclaimed as not a CDFI Fund parameter in the same line | Assumed CDE fee rate: N% of QEI ($NMM) — a market assumption of this model,
SOURCED | this model's market assumption, disclaimed as not a CDFI Fund parameter in the same line | Assumed CDE fee rate: N% of QEI ($NMM) — a market assumption of this model, not a CDFI Fund parameter. Fees cover origination, compliance monitoring, and asset management over the N-year compliance period.
SOURCED | this model's market assumption, disclaimed as not a CDFI Fund parameter in the same line | Modelled on $NMM of pipeline QEI at an assumed credit price of $N/NMTC credit, the structure implies $NMM of investor equity. The credit price is a market assumption of this model, not a quoted or committed price.
SOURCED | this tool's modelling assumption, and the line says so in-line | $N (market assumption, not a CDFI Fund parameter)
SOURCED | wrapped continuation of the CDE-fee assumption, disclaimed in-line | not a CDFI Fund parameter. Fees cover origination, compliance monitoring, and asset
SOURCED | wrapped continuation of the CDE-fee sentence; the 7 years are IRC 45D | management over the N-year compliance period.
SOURCED | wrapped continuation of the DEAL ECONOMICS note, which names nmtc-calc as its source | $N/credit, CDE fee N% of QEI, N-year compliance period.
SOURCED | wrapped continuation of the assumed CDE fee rate row | N% of QEI (market assumption, not a CDFI Fund parameter)
SOURCED | wrapped opening of the deal-economics methodology note | DEAL ECONOMICS: nmtc-calc library, standard leveraged structure. Credit price
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | $NMM QEI). The CDFI Fund publishes no jobs-per-QEI benchmark in any
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | - Impact screening bands (N / N / N FTE per $NMM QEI): this tool's own bands. The CDFI Fund publishes no jobs-per-QEI benchmark in any denominator — it reports job counts and dollar counts separately and never divides them. These are not a federal figure.
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | IMPACT SCREENING BANDS: THIS TOOL'S OWN BANDS (N / N / N FTE per
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | IMPACT SCREENING BANDS: THIS TOOL'S OWN BANDS (N / N / N FTE per $NMM QEI). The CDFI Fund publishes no jobs-per-QEI benchmark in any denominator: it reports job counts and dollar counts separately and never divides them, and it publishes no distribution, so no band here is a percentile. These are not a federal figure and must not be cited as one.
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | denominator: it reports job counts and dollar counts separately and never divides
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | federal figure and must not be cited as one.
TOOL | declares the 5/12/20 impact bands this tool's own and states the CDFI Fund publishes no jobs-per-QEI benchmark — the F28 relabel, replacing a citation to a publication that does not exist | them, and it publishes no distribution, so no band here is a percentile. These are not a
TOOL | declares the >=75% deep-distress band this tool's own and not a CDFI Fund threshold | QEI deployment strategy: N% of QEI committed to deep/severe distress tracts. (This
TOOL | declares the >=75% deep-distress band this tool's own and not a CDFI Fund threshold | QEI deployment strategy: N% of QEI committed to deep/severe distress tracts. (This tool's own internal scoring band is ≥N%; it is not a CDFI Fund threshold.)
TOOL | declares the readiness weights unsourced and non-predictive | READINESS SCORE: An UNSOURCED HOUSE HEURISTIC of this tool (eligibility N%, distress concentration N%, geographic diversity N%, impact metrics N%, validation N%, completeness N%). The weights are this tool's own judgement; they are not calibrated against award data, the CDFI Fund publishes no such weighting, and the score does not predict an award outcome.
TOOL | declares the readiness weights unsourced; a disclaimer, not a claim | - Readiness scoring: an unsourced house heuristic of this tool. The weights are not calibrated against award data, and the CDFI Fund publishes no such weighting. NMTC rounds are announced by a NOAA (Notice of Allocation Availability); the CY N NOAA is not yet published.
TOOL | disclaims the >=75% band as this tool's own; it rendered as '(CDFI Fund target: >=75%)' until 1.2.0 while data/schema.py commented it 'house heuristic' | tool's own internal scoring band is ≥N%; it is not a CDFI Fund threshold.)
TOOL | methodology note disclaiming a capability; a negative about the tool | - Community need: NOT generated by this tool — documented by the CDE and cited to sources the CDE controls
TOOL | names the library that computed the deal economics | - Deal economics: nmtc-calc library (standard leveraged NMTC transaction structure)
TOOL | provenance stamp about this tool, not about the CDE | *This document was generated by nmtc-application-builder vN.N. Narrative placeholders marked \[NARRATIVE PLACEHOLDER\] require CDE review and customization.*
TOOL | provenance stamp; version and build date are facts about the tool | Generated by **nmtc-application-builder vN.N** on N-N-N.
TOOL | provenance stamp; version and build date are facts about the tool | Generated by nmtc-application-builder vN.N on N-N-N.
TOOL | the Key Strengths list is this tool's own assessment against its own thresholds, and now says so where it is introduced | **Key Strengths** (this tool's own assessment against its own thresholds — not a CDFI Fund evaluation)**:**
TOOL | wrapped continuation of the credit-price disclaimer in Section D | assumption of this model, not a quoted or committed price.
TOOL | wrapped continuation of the readiness-weights disclaimer | N%, distress N%, geographic N%, impact N%, validation N%, completeness N%).
TOOL | wrapped continuation of the readiness-weights disclaimer | The weights are this tool's own judgement; they are not calibrated against award data,
TOOL | wrapped continuation of the readiness-weights disclaimer | the CDFI Fund publishes no such weighting, and the score does not predict an award
TOOL | wrapped opening of the readiness-weights disclaimer | READINESS SCORE: An UNSOURCED HOUSE HEURISTIC of this tool (eligibility
