[Federal Register Volume 66, Number 185 (Monday, September 24, 2001)]
[Notices]
[Pages 48924-48929]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-23669]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability (NOFA) Inviting Applications for the 
Community Development Financial Institutions Program--Small and 
Emerging CDFI Assistance (SECA) Component

AGENCY: Community Development Financial Institutions Fund, Department 
of the Treasury.

ACTION: Notice of funds availability (NOFA) inviting applications for 
the FY 2002 funding round of the SECA component of the Community 
Development Financial Institution Program.

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SUMMARY: The Community Development Banking and Financial Institutions 
Act of 1994 (12 U.S.C. 4701 et seq.) (the ``Act'') authorizes the 
Community Development Financial Institutions Fund (the ``Fund'') of the 
U.S. Department of the Treasury to select and provide financial and 
technical assistance to eligible applicants under the Community 
Development Financial Institutions (``CDFI'') Program. The interim rule 
(12 CFR part 1805), most recently published in the Federal Register on 
August 14, 2000 (65 FR 49642), provides guidance on the contents of the 
necessary application materials, evaluation criteria, and other program 
requirements. More detailed application content requirements are found 
in the application packet related to this NOFA. While the Fund 
encourages applicants to review the interim rule, all of the 
application content requirements and the evaluation criteria contained 
in the interim rule are also contained in the application packet.
    This NOFA is issued in connection with the SECA Component of the 
CDFI Program. The SECA Component provides financial assistance (``FA'') 
and technical assistance (``TA'') to CDFIs and entities that propose to 
become CDFIs in order to enhance their capacity to serve their 
respective target markets, through loans, investments, financial 
services and other activities. An applicant under the SECA Component 
also may use TA to build the capacity of an Affiliate if the provision 
of such TA will directly benefit the primary mission of the applicant 
and the objectives of its Comprehensive Business Plan.
    Published elsewhere in this issue of the Federal Register are (i) 
the Fund's NOFA for the combined Core and Intermediary Components of 
the CDFI Program, through which CDFIs may apply directly to the Fund 
for FA and/or TA awards, (ii) the Fund's NOFA for the Native American 
CDFI Technical Assistance (``NACTA'') Component of the CDFI Program, 
through which organizations that serve or wish to serve Native American 
communities through the provision of loans, investments and financial 
services, may apply directly to the Fund for TA awards; and (iii) the 
Fund's NOFA for the Bank Enterprise Award (``BEA'') Program, through 
which the Fund offers financial incentives to insured depository 
institutions for the purpose of promoting investments in or other 
support to CDFIs and facilitating increased lending and provision of 
financial and other services in economically distressed communities. In 
addition, the Fund expects to issue, at a later date, a Notice of 
Allocation Availability (``NOAA'') for the New Markets Tax Credit 
(``NMTC'') Program, inviting applications from eligible entities for 
allocations of tax credits. As set forth in the Fund's Guidance, 
published in the Federal Register on May 1, 2001 at 66 FR 21846, the 
NMTC Program will provide an incentive to

[[Page 48925]]

investors in the form of a tax credit over seven years, which is 
expected to stimulate investment in new private capital that, in turn, 
will facilitate economic and community development in distressed 
communities.
    Although an applicant may apply for an award through the Core/
Intermediary Component and the SECA Component, it may only receive an 
award under one of those two Components. If an applicant applies for an 
award through the Core/Intermediary Component and the SECA Component, 
the Fund reserves the right to decide, in its sole discretion, under 
which Component, if any, an award may be made. While an applicant may 
receive only one award under either the Core/Intermediary Component or 
the SECA Component, an applicant, its subsidiaries or Affiliates may 
apply for and receive both a tax credit allocation through the NMTC 
Program and an award through the Core/Intermediary Component or the 
SECA Component.
    An entity that is a NACTA Component Category 1 entity (as that term 
is defined in the NACTA NOFA) may apply for an award through the Core/
Intermediary Component, the SECA Component, and the NACTA Component, 
but may only receive an award under one of those three Components. An 
applicant that is a NACTA Component Category 2 or Category 3 entity (as 
those terms are defined in the NACTA NOFA) may apply for an award 
through the Core/Intermediary Component, the SECA Component, and the 
NACTA Component and may receive an award under the NACTA Component and 
either the Core/Intermediary Component or the SECA Component, provided 
that the respective applications propose and seek funding for different 
activities. While a NACTA Component Category 1 entity may receive only 
one award under the Core/Intermediary Component, the SECA Component, or 
the NACTA Component, said entity, its subsidiaries or Affiliates also 
may apply for and receive a tax credit allocation through the NMTC 
Program and an award through the Core/Intermediary Component, the SECA 
Component, or the NACTA Component.
    Subject to funding availability, the Fund expects that it may award 
approximately $5.6 million in appropriated funds under this SECA 
Component NOFA. The Fund reserves the right to award in excess of $5.6 
million in appropriated funds under this NOFA provided that the funds 
are available and the Fund deems it appropriate. The Fund reserves the 
right to fund, in whole or in part, any, all, or none of the 
applications submitted in response to this NOFA.

DATES: Applications may be submitted at any time, commencing September 
24, 2001. The deadline for an application is 5:00 p.m. EST on January 
24, 2002. Applications received in the specific Bureau of the Public 
Debt--Franchise Services (BPD) office designated below after that date 
and time will be rejected and returned to the sender, except as 
follows. An application mailed via United States Postal Service will be 
considered as having met the application deadline if it is clearly 
postmarked on or before midnight January 23, 2002. An application sent 
by overnight/express delivery will be considered as having met the 
application deadline if it is placed in transit with an overnight/
express delivery service by no later than January 23, 2002. An 
application that is hand-carried will be considered as having met the 
application deadline if it is received in the specific BPD office 
designated below by 5:00 pm EST on January 24, 2002. In each case, it 
is advisable to obtain documentation from the carrier showing the date 
and time the application was placed in transit or hand-delivered, as 
the case may be. A single, clear date and time stamp will help in 
determining whether the delivery of an application has met the deadline 
requirements set forth above. Applications sent by facsimile will not 
be accepted; applications sent electronically or by e-mail will be 
accepted only as set forth below.
    Demonstration Project: Electronic Submission of Applications: For 
purposes of this NOFA only, applicants are invited to participate in a 
pilot demonstration project to test the efficiency and efficacy of the 
Fund's new electronic application form. For this demonstration project, 
a limited number of applicants will be asked to complete and submit 
both a paper and an electronic application, in the formats prescribed 
by the Fund. If your organization is interested in learning more about 
this demonstration project, please (i) visit www.treas.gov/cdfi for 
more information and (ii) email the Fund at [email protected] 
(with the subject line: ``electronic application'') within 30 days of 
this NOFA to submit your organization's name (and point of contact) as 
a prospective demonstration project participant, whereupon the Fund 
will contact you to inform you whether your organization has been 
selected to participate in the demonstration project. Participation in 
the demonstration project is in no way indicative of the likelihood of 
an applicant's success in being selected for an award under this NOFA. 
The Fund will accept electronic submission of applications only as 
described in this Section.

ADDRESSES: Applications shall be sent to: CDFI Fund Awards Manager, 
Bureau of Public Debt--Franchising, 200 Third Street, Room 211, 
Parkersburg, WV 26101. Applications will not be accepted in the Fund's 
offices.

FOR FURTHER INFORMATION CONTACT: If you have any questions about the 
programmatic requirements for this program, contact the Fund's SECA 
Component Program Manager. If you wish to request an application 
package or have questions regarding application procedures, contact the 
Fund's Awards Manager. The SECA Component Program Manager and the 
Awards Manager may be reached by e-mail at [email protected], by 
telephone at (202) 622-8662, by facsimile at (202) 622-7754, or by mail 
at CDFI Fund, 601 13th Street, NW, Suite 200 South, Washington, DC 
20005. These are not toll free numbers. Allow at least one to two weeks 
from the date the Fund receives a request for receipt of the 
application package. Applications and other information regarding the 
Fund and its programs may be downloaded from the Fund's web site at 
www.treas.gov/cdfi.

SUPPLEMENTARY INFORMATION

I. Background

    Credit and investment capital are essential ingredients for 
developing affordable housing, starting or expanding businesses, 
meeting unmet market needs, and stimulating economic growth. Access to 
financial services is critical to help bring more Americans into the 
economic mainstream. The CDFI Program funds and supports financial 
institutions around the country that are specifically dedicated to 
financing and supporting community development activities. This 
strategy builds strong institutions that make loans and investments and 
provide services to markets (including economically distressed 
investment areas and disadvantaged targeted populations) whose needs 
for loans, investments, and financial services have not been met by 
traditional financial institutions.
    This NOFA covers the Fiscal Year 2002 round of the SECA Component 
of the CDFI Program and invites CDFIs and Small and Emerging CDFIs to 
submit applications for TA or for Small and Emerging CDFIs to apply for 
a combination of TA and FA for the

[[Page 48926]]

purpose of serving their target markets through the provision of loans, 
investments, and financial services.
    Under this NOFA, the Fund anticipates making a maximum TA award in 
the amount of $50,000 to any one applicant seeking TA only. However, 
the Fund, in its sole discretion, reserves the right to award amounts 
in excess of the anticipated maximum amount of TA if the Fund deems it 
appropriate. Also, under this NOFA, the Fund anticipates making a 
maximum FA award in the amount of $150,000. The maximum award available 
to any one applicant seeking FA and TA under this NOFA will be 
$200,000. Under the SECA Component, applicants seeking FA must also 
request TA. Previous awardees of FA under any Component of the CDFI 
Program are eligible to apply only for TA under this NOFA.
    Previous awardees under the CDFI Program are eligible to apply 
under this NOFA, but such applicants must be aware that success in a 
previous round should not be considered indicative of success under 
this NOFA. In addition, organizations will not be penalized for having 
received awards in previous funding rounds, except to the extent that: 
(1) The Fund generally is prohibited from obligating more than $5 
million in assistance, in the aggregate, to any one organization and 
its Subsidiaries and Affiliates during a three-year period (further 
guidance on the calculation of the $5 million cap is available on the 
Fund's website at www.treas.gov/cdfi); or (2) an applicant that is a 
previous Fund awardee under any other Fund program or component of the 
CDFI Program has failed to meet its reporting requirements, performance 
goals, financial soundness covenants (if applicable) and/or other 
requirements contained in the previously executed assistance or award 
agreement(s). Moreover, the Fund may, in its sole discretion, withhold 
or suspend making disbursements to an applicant, selected to receive an 
award under this NOFA, that either is a previous Fund awardee or whose 
Affiliate(s) is a previous Fund awardee under any other Fund program or 
component of the CDFI Program, if the applicant or its Affiliate(s) has 
failed to comply with any term, agreement, covenant or condition 
contained in or referenced in any previous Fund assistance or award 
agreement. The Fund will generally commence or resume making 
disbursements to such applicant upon the applicant's or its Affiliate's 
subsequent compliance.

II. Eligibility

    The Act and the interim rule specify the eligibility requirements 
that each applicant must meet in order to be eligible to apply for 
assistance under this NOFA. At the time an entity submits its 
application, the entity must be a duly organized and validly existing 
legal entity under the laws of the jurisdiction in which it is 
incorporated or otherwise established. Also, an entity must meet, or 
propose to meet, the Fund's CDFI certification eligibility 
requirements.
    If the applicant does not meet the CDFI certification eligibility 
requirements, the application shall include a realistic plan for the 
applicant to meet the CDFI certification criteria by January 24, 2004 
(the deadline may be extended at the sole discretion of the Fund). In 
no event will the Fund disburse FA to the applicant until the applicant 
is certified as a CDFI. The Fund, in its sole discretion, may disburse 
TA to an applicant prior to its certification as a CDFI in 
circumstances when, in the judgment of the Fund, said TA will help the 
applicant meet a certification requirement(s). Further details 
regarding eligibility and other program requirements are found in the 
application packet related to this NOFA.
    In general, to be certified as a CDFI, an applicant, individually 
and collectively with its affiliates, must have a primary mission of 
promoting community development. In addition, the applicant must: be an 
insured depository institution, a depository institution holding 
company or an insured credit union; provide loans or equity 
investments; serve an investment area or a targeted population; provide 
development services; maintain community accountability; and be a non-
governmental entity. If an applicant is a depository institution 
holding company or an affiliate of a depository institution holding 
company, the applicant individually and collectively with its 
affiliates, must meet all of the aforementioned requirements.
    For purposes of determining whether or not the applicant is serving 
an eligible Investment Area, the Fund will continue to use 1990 Census 
data, since the 2000 Census data will not be available in sufficient 
detail for use under this NOFA.
    As explained in the application packet, applicants seeking to 
designate an ``Other Targeted Population'' must provide a brief 
analytical narrative with information demonstrating that the designated 
group of individuals in the applicant's service area lacks adequate 
access to loans, Equity Investments or Financial Services. This 
narrative requirement does not apply to applicants serving an Other 
Targeted Population composed of Blacks or African Americans, Native 
Americans or American Indians, or Hispanics or Latinos, on a national 
service level. In addition, for purposes of this NOFA, the Fund has 
determined that credible evidence exists that Alaska Natives residing 
in Alaska and Native Hawaiians or Other Pacific Islanders residing in 
Hawaii or other Pacific Islands lack adequate access to loans, Equity 
Investments or Financial Services. To the extent that an applicant is 
serving such population(s), it is not required to provide the 
analytical narrative describing these populations' unmet loan, Equity 
Investment or Financial Services needs.
    For purposes of this NOFA, the Fund will use the following 
definitions, set forth in the Office of Management and Budget (OMB) 
Notice, Revisions to the Standards for the Classification of Federal 
Data on Race and Ethnicity (October 30, 1997):
    (a) American Indian, Native American or Alaska Native: a person 
having origins in any of the original peoples of North and South 
America (including Central America) and who maintains tribal 
affiliation or community attachment;
    (b) Black or African American: a person having origins in any of 
the black racial groups of Africa (terms such as ``Haitian'' or 
``Negro'' can be used in addition to ``Black or African American'');
    (c) Hispanic or Latino: a person of Cuban, Mexican, or Puerto 
Rican, South or Central American or other Spanish culture or origin, 
regardless of race (the term ``Spanish origin'' can be used in addition 
to ``Hispanic or Latino''); and
    (d) Native Hawaiian or Other Pacific Islander: a person having 
origins in any of the original peoples of Hawaii, Guam, Samoa or other 
Pacific Islands.
    For further detail, please visit the Fund's website at 
www.treas.gov/cdfi, under Certification/Supplemental Information.
    In addition to the above criteria, there are other eligibility 
factors for applicants seeking FA and TA under the SECA Component. 
Applicants for FA and TA (as opposed to TA only under the SECA 
Component) must be ``Small and Emerging'' entities. With respect to an 
entity that is not a depository institution holding company or an 
insured depository institution, a Small and Emerging entity is one that 
(i) possesses total assets of $5 million or less as of the last day of 
its most recent fiscal year that ended prior to January 1,

[[Page 48927]]

2002, and (ii) prior to the date of application under this NOFA, has 
never been selected to receive FA under the CDFI Program. With respect 
to an applicant that is a depository institution holding company or an 
insured depository institution, a Small and Emerging entity is one that 
(i) prior to the date of application under this NOFA, has never been 
selected to receive FA under the CDFI Program, and (ii) received its 
original charter from the appropriate regulatory agency no more than 
three years prior to the date of this NOFA.

III. Types of Assistance

    An applicant under this NOFA may submit an application for a TA 
grant or for both FA and TA. FA may be provided in the form of an 
equity investment (including, in the case of certain insured credit 
unions, secondary capital accounts), a grant, loan, deposit, credit 
union shares, or any combination thereof. Applicants for FA shall 
indicate the dollar amount, form, and terms and conditions of the 
assistance requested. Applicants for TA under this NOFA shall describe 
the type(s) of TA requested, when the TA will be acquired, the 
provider(s) of the TA, the cost of the TA, and a narrative explanation 
of how the TA will enhance their community development impact.

IV. Application Packet

    An applicant under this NOFA, whether applying for TA or both FA 
and TA, must submit the materials described in the application packet.

V. Matching Funds

    Applicants seeking FA under this NOFA must obtain matching funds 
from sources other than the Federal government on the basis of not less 
than one dollar for each dollar of FA provided by the Fund (matching 
funds are not required for TA). Matching funds must be at least 
comparable in form and value to the FA provided by the Fund. Non-
Federal funds obtained or legally committed on or after January 1, 
2000, and before December 31, 2003, may be considered when determining 
matching funds availability. The Fund reserves the right to recapture 
and reprogram funds if an applicant fails to raise the required 
matching funds by December 31, 2003, or to grant an extension of such 
matching funds deadline for specific applicants selected for 
assistance, if the Fund deems it appropriate. Funds used by an 
applicant as matching funds for a previous award under the CDFI Program 
or under another Federal grant or award program cannot be used to 
satisfy the aforementioned matching funds requirement. If an applicant 
seeks to use as Matching Funds monies received from an organization 
that was a previous awardee under the CDFI Program, the Fund will deem 
such funds to be Federal funds, unless the funding entity establishes 
to the reasonable satisfaction of the Fund, that such funds do not 
consist, in whole or in part, of CDFI Program funds or other Federal 
funds.

VI. Evaluation

    Applications received will be reviewed for eligibility and 
completeness. If determined to be eligible and complete, applications 
will be evaluated by the Fund on a competitive basis in accordance with 
the criteria described in this NOFA. In conducting its substantive 
review, the Fund will evaluate applications according to the criteria, 
and use the procedure described, in this NOFA. In conducting its 
substantive review, the Fund will evaluate each application and assign 
numeric scores related to the applicant's Comprehensive Business Plan 
and Technical Assistance Proposal.
    In addition, the Fund may consider the institutional and geographic 
diversity of applicants in making its funding determinations.

Phase One

    In Phase One of the substantive review, each Fund reader will 
evaluate applications on a 100-point scale, using the following 
criteria and allocation of points:
    (a) Comprehensive Business Plan: 60 point maximum; with a minimum 
score of 30 points required to advance to Phase Two review (TA only 
applicants); or 70 point maximum, with a minimum score of 35 points 
required to advance to Phase Two review (applicants seeking TA and FA 
combined). The score for the Comprehensive Business Plan is based on a 
composite assessment of an applicant's strength and weaknesses under 
five sub-criteria for TA only applicants and six sub-criteria for those 
applicants seeking TA and FA. Scoring of the sub-criteria is weighted 
to reflect whether the applicant is a start-up organization or an 
established organization. The Fund defines a start-up organization as 
an entity that has been in operation three years or less, as of the 
date of this NOFA (meaning, for purposes of this NOFA, having incurred 
initial operating expenses on or after September 24, 1998).
    In reviewing the Comprehensive Business Plan, the Fund will 
evaluate the following sub-criteria:
    (1) Community development track record (established organizations 
only): 10 point maximum;
    (2) Financial and operational capacity: 10 point maximum 
(established organizations); 4 point maximum (start-ups);
    (3) Market analysis, program design and implementation plan, and 
funding sources: 14 point maximum;
    (4) Capacity, skills and experience of the management team: 14-
point maximum (established organizations); and 30 point maximum (start-
ups);
    (5) Projected activities and community development impact: 12 point 
maximum; and
    (6) Financial projections and resources: 10 point maximum (TA only 
applicants will not be evaluated under this sub-criterion).
    In the case of an applicant that has previously received TA from 
the Fund under the CDFI Program, the Fund will consider whether the 
applicant will expand its operations into a new target market, offer 
more products or services, improve the quality of its products and 
services, and/or increase the volume of its activities. The Fund will 
consider the applicant's level of success in meeting its reporting 
requirements, performance goals, financial soundness agreements, and 
other requirements contained in its existing assistance or award 
agreement(s) with the Fund, and the benefits that will be created with 
new Fund assistance over and above benefits created by previous Fund 
assistance.
    (b) Technical Assistance Proposal (TAP): 40 point maximum; with a 
minimum score of 20 points to advance to Phase Two review (TA only 
applicants); or 30 point maximum with a 15 point minimum to advance to 
Phase Two review (applicants seeking FA and TA combined). The TAP 
provides the applicant with an opportunity to address the 
organizational improvements needed to achieve the objectives of its 
comprehensive business plan. Such assessment is accompanied by a budget 
and a TA award request. In the TAP, the applicant should describe how 
improving its organization will translate to community development 
impact, particularly within its Target Market. The budget and 
accompanying narrative will be evaluated for the eligibility of 
proposed uses of the TA award. Eligible types of TA award uses include, 
but are not limited to, the following: (1) Acquiring consulting 
services; (2) paying staff salary for the limited purposes of 
completing tasks and/or fulfilling functions that are otherwise 
eligible TA award uses under this NOFA; (3) acquiring/enhancing

[[Page 48928]]

technology items; and (4) acquiring training for staff or management. 
The Fund will not consider requests under this NOFA for expenses that, 
in the determination of the Fund, are deemed to be ongoing operating 
expenses rather than non-recurring expenses.
    The Fund will consider requests for use of TA to pay for staff 
salary only when the applicant demonstrates and represents that: the 
proposed staff time to be paid for by the TA will be used for a non-
recurring activity that will build the applicant's capacity to achieve 
its objectives as set forth in its Comprehensive Business Plan; the 
proposed capacity-building activity would otherwise be contracted to a 
consultant or not be undertaken; and the staff person assigned to the 
proposed task has the competence to successfully complete the activity. 
This limited use of TA may cover only that portion of a staff person's 
salary that represents the time that staff person(s) spends on the 
identified capacity-building activities, but must not exceed 50 percent 
of said annual salary in a 12-month period, and for a total period not 
to exceed 24 months. For example, it may be an eligible use of a TA 
grant to pay the salary of staff assigned the task of updating a market 
analysis or designing underwriting criteria for a new loan product, 
when that market analysis or loan product is critical to achieving the 
objectives of the Comprehensive Business Plan. A TA award may not be 
used for the cost of employee benefits or overhead expenses or to 
assist an awardee to prepare an application for funding to the Fund or 
any other source.

Phase Two

    Once the initial evaluation is completed, the Fund will determine 
which applications will receive further consideration for funding based 
on the recommendations and scores (standardized if deemed appropriate) 
received during Phase One review and the amount of funds available. 
Applicants that advance to Phase Two may receive a site visit and/or 
telephone interview(s) conducted by a Fund reviewer for the purpose of 
obtaining clarifying or confirming information. At this point in the 
process, applicants may be required to submit additional clarifying 
information about their application in order to assist the Fund with 
its final evaluation. After conducting such site visit and/or telephone 
interview(s), Fund reviewers will evaluate applications based on all 
the elements outlined in the application, and prepare recommendation 
memoranda containing the type, uses and amount of assistance, if any, 
that should be provided to each applicant.
    The Fund reserves the right, in its sole discretion, to use a 
review panel comprised of Fund staff to consider each Fund reviewer's 
recommendation memorandum and make a final recommendation to the Fund's 
selecting official. The Fund's selecting official will consider the 
panel's recommendation, if applicable, and the reviewer's 
recommendation memorandum in order to make the final funding decision. 
In making the funding decision, the Fund's selecting official also may 
consider the institutional diversity and geographic diversity of 
applicants (e.g., selecting a CDFI from a state in which the Fund has 
not previously made an award over a CDFI in a state in which the Fund 
has already made several awards).
    The Fund's selecting official will make a final funding 
determination based on the applicant's file, including, without 
limitation, recommendations of the Phase One and Phase Two reviewers' 
recommendations and the panel's recommendations, if applicable, the 
amount of funds available, and, for a prior awardee, the status of its 
compliance and award disbursements to date. In the case of regulated 
CDFIs, the selecting official will also take into consideration the 
views of the appropriate Federal banking agencies. In the case of 
recommendations for TA awards over $50,000, the Fund will seek to 
ensure that there is a likelihood of significant community development 
impact resulting from such awards. The Fund's selecting official 
reserves the right to reject any application in the case of a previous 
Fund awardee that has failed to comply with the terms and conditions of 
its previous assistance or award agreement(s).
    The Fund reserves the right to change these evaluation procedures 
if the Fund deems it appropriate.

V. Waiver

    The CDFI Program Regulations at 12 C.F.R. 
Secs. 1805.504(d)(4)(i)(A) and 1805.504(d)(4)(i)(B) provide that an 
applicant that is an Insured Credit Union proposing to meet all or a 
portion of its matching funds requirements by using retained earnings 
that have been accumulated since its inception must increase its member 
and/or non-member shares by an amount that is at least equal to four 
times the amount of retained earnings that is committed as matching 
funds within 24 months from September 30 of the calendar year in which 
the applicable application deadline falls. For purposes of this NOFA, 
the Fund is waiving said four-fold requirement and will instead require 
that such an Insured Credit Union applicant must increase its member 
and/or non-member shares by an amount that is at least equal to two 
times the amount of retained earnings that is being used as matching 
funds by September 30, 2004. The Fund believes that changing this 
requirement, for purposes of this SECA Component NOFA, from a four-fold 
to a two-fold requirement is an appropriate accommodation for Small and 
Emerging entities.

VII. Information Sessions

    In connection with the Fiscal Year 2002 funding rounds of its 
programs, the Fund will conduct In-Person Information Sessions to 
disseminate information to organizations contemplating applying to, and 
other organizations interested in learning about, the Core, 
Intermediary, SECA and NACTA Components of the CDFI Program, and the 
BEA Program. Registration is required, as the In-Person Information 
Sessions will be held in secured federal facilities. The Fund 
anticipates conducting up to 17 In-Person Information Sessions, during 
the period from September 26 through October 31, 2001, in the following 
cities: Albuquerque, NM; Anchorage, AK; Atlanta, GA; Billings, MT; 
Boston, MA; Charleston, WV; Chicago, IL; Denver, CO; Honolulu, HI; Los 
Angeles, CA; Memphis, TN; Miami, FL; Minneapolis, MN; Oklahoma City, 
OK; Philadelphia, PA; San Antonio, TX; and Seattle, WA.
    In addition to the In-Person Information Sessions listed above, the 
Fund will broadcast a Televideo Information Session, using interactive 
video-teleconferencing technology, on November 8, 2001 (tentative 
date), 1:00 p.m. to 4:00 p.m. EST. Registration is required, as the 
Televideo Information Session will be held in secured federal 
facilities. The Televideo Information Session will be produced in 
Washington, DC, and will be downlinked via satellite to the local 
Department of Housing and Urban Development (HUD) offices located in 
the following 81 cities: Albany, NY: Albuquerque, NM; Anchorage, AK; 
Atlanta, GA; Baltimore, MD; Bangor, ME; Birmingham, AL; Boise, ID; 
Boston, MA; Buffalo, NY; Burlington, VT; Camden, NJ; Casper, WY; 
Charleston, WV; Chicago, IL; Cincinnati, OH; Cleveland, OH; Columbia, 
SC; Columbus, OH; Dallas, TX; Denver, CO; Des Moines, IA; Detroit, MI; 
Fargo, ND; Flint, MI; Fort Worth, TX; Fresno, CA; Grand Rapids, MI; 
Greensboro, NC; Hartford, CT; Helena, MT; Honolulu, HI; Houston, TX; 
Indianapolis, IN; Jackson,

[[Page 48929]]

MS; Jacksonville, FL; Kansas City, KS; Knoxville, TN; Las Vegas, NV; 
Little Rock, AR; Los Angeles, CA; Louisville, KY; Lubbock, TX; 
Manchester, NH; Memphis, TN; Miami, FL; Milwaukee, WI; Minneapolis, MN; 
Nashville, TN; New Orleans, LA; New York, NY; Newark, NJ; Oklahoma 
City, OK; Omaha, NE; Orlando, FL; Philadelphia, PA; Phoenix, AZ; 
Pittsburgh, PA; Portland, OR; Providence, RI; Reno, NV; Richmond, VA; 
Sacramento, CA; St. Louis, MO; Salt Lake City, UT; San Antonio, TX; San 
Diego, CA; San Francisco, CA; San Juan, PR; Santa Ana, CA; Seattle, WA; 
Shreveport, LA; Sioux Falls, SD; Spokane, WA; Springfield, IL; 
Syracuse, NY; Tampa, FL; Tucson, AZ; Tulsa, OK; Washington, DC; and 
Wilmington, DE.
    For further information on the Fund's Information Sessions, dates 
and locations, or to register online for an Information Session, please 
visit the Fund's website at www.treas.gov/cdfi. If you do not have 
Internet access, you may register by calling the Fund at (202) 622-
8662. Catalog of Federal Domestic Assistance: 21.021

    Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 
1806.

Tony Brown,
Director, Community Development Financial Institutions Fund.
[FR Doc. 01-23669 Filed 9-21-01; 8:45 am]
BILLING CODE 4810-70-P