[Federal Register Volume 66, Number 185 (Monday, September 24, 2001)]
[Notices]
[Pages 48929-48934]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-23671]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability (NOFA) Inviting Applications for the 
Community Development Financial Institutions Program--Native American 
CDFI Technical Assistance (NACTA) 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 NACTA component of the Community 
Development Financial Institutions Program.

-----------------------------------------------------------------------

SUMMARY: The Community Development Banking and Financial Institutions 
Act of 1994 (12 U.S.C. Secs. 4701 et seq.) (the ``1994 Act'') 
authorizes the Community Development Financial Institutions Fund (the 
``Fund'') of the U.S. Department of the Treasury to select and provide 
technical assistance (``TA'') to eligible applicants under the 
Community Development Financial Institutions (``CDFI'') Program. 
Further, the Department of Veterans Affairs and Housing and Urban 
Development, and Independent Agencies Appropriations Act, 2001 (P.L. 
106-377) authorizes the Fund to provide TA to promote economic 
development in Native American and Alaska Native communities by 
creating new CDFIs or building the capacity of existing CDFIs that 
serve Native American or Alaska Native communities. This NOFA and the 
interim rule (12 CFR part 1805), most recently revised and published in 
the Federal Register on August 14, 2000 (65 FR 49642), provide guidance 
on the contents of 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 NACTA Component of the 
CDFI Program. The NACTA Component provides TA to three categories of 
entities that propose to build the capacity of or establish a new 
CDFI(s) that will serve a Native American or Alaska Native 
population(s):
    (i) Category 1: CDFIs That Primarily Serve Native American or 
Alaska Native Populations: Fund-certified CDFIs or other entities that 
propose to become Fund-certified CDFIs (i.e., qualified community 
development lenders, for purposes of this NOFA) that primarily serve 
Native American or Alaska Native communities;
    (ii) Category 2: Tribes, Tribal Entities, or Non-Profit 
Organizations That Primarily Serve Native American or Alaska Native 
Populations: (a) Tribes, Tribal entities, Alaska Native Villages, 
Village Corporations, Regional Corporations, Non-Profit Regional 
Corporations/Associations, or Inter-Tribal or Inter-Village 
organizations; or (b) non-profit community organizations engaged in 
related activities, including but not limited to: community development 
corporations (CDCs), training or educational organizations, Tribally-
Controlled Community Colleges, Chambers of Commerce, or Urban Indian 
Centers that serve primarily a Native American or Alaska Native 
community; and
    (iii) Category 3: TA Providers or Other Suitable Providers: (a) TA 
Providers including firms that provide training or TA in community 
development finance or that specialize in economic development in 
Native American or Alaska Native communities, or (b) other suitable 
providers, as defined by the Fund, that include, but are not limited 
to: CDCs, certified CDFIs, organizations with experience and expertise 
in banking and lending in Native American or Alaska Native communities.
    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 Financial Assistance (FA) and/or TA awards; (ii) the Fund's NOFA 
for the Small and Emerging CDFI Assistance (``SECA'') Component of the 
CDFI Program, through which Small and Emerging CDFIs, as therein 
defined, may apply directly to the Fund for FA and/or 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 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.
    An entity that is a NACTA Component Category 1 entity 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 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

[[Page 48930]]

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 
up to $43.5 million in appropriated funds under this NACTA Component 
NOFA. The Fund reserves the right to award in excess of $3.5 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 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 p.m. 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 at the Fund's 
offices.

FOR FURTHER INFORMATION CONTACT: If you have any questions about the 
programmatic requirements for this program, contact the Fund's NACTA 
Component Program Manager. If you wish to request an application 
package or if you have questions regarding application procedures, 
contact the Fund's Awards Manager. The NACTA 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.
    Pursuant to the Act, the Fund has completed the research for the 
Native American Lending Study (``the Study''), which identifies 
significant barriers to lending and investment in Native American and 
Alaska Native communities and strategies for overcoming those barriers. 
One of the barriers identified by the Study is the small number of 
CDFIs and other financial institutions in Native American and Alaska 
Native communities. Since CDFIs are an important tool for developing 
self-sustaining economies in many underserved communities, the Fund, 
through the NACTA Component, seeks to assist Native American and Alaska 
Native communities to create and develop a network of CDFIs that will 
promote economic development in such communities.
    This NOFA covers the Fiscal Year 2002 round of the NACTA Component 
of the CDFI Program and invites eligible entities to submit 
applications for TA for the purpose of promoting economic development 
activities in Native American and Alaska Native communities.
    Under this NOFA, the Fund anticipates making a TA award of up to 
$100,000 to any one applicant. However, the Fund, in its sole 
discretion, reserves the right to award amounts in excess of this 
amount if the Fund deems it appropriate.
    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: 
(i) The Fund is generally 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 http://www.treas.gov/cdfi); or (ii) an applicant that 
is a previous Fund awardee under any other Fund program or component of 
the CDFI Program has failed to meet

[[Page 48931]]

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

    At the time an entity submits its application under this NOFA, 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. There are three categories of eligible applicants under 
this NOFA. Eligible entities include:
    (i) Category 1: CDFIs That Primarily Serve Native American or 
Alaska Native Populations: Fund-certified CDFIs or other entities that 
propose to become Fund-certified CDFIs (i.e., qualified community 
development lenders, for purposes of this NOFA) by January 24, 2004, 
that primarily serve Native American or Alaska Native communities;
    (ii) Category 2: Tribes, Tribal Entities, Or Non-Profit 
Organizations That Primarily Serve Native American or Alaska Native 
Populations: Generally, applicants in Category 2 are accountable to a 
specific Tribe or group of Tribes, Alaska Native Village or group of 
Villages, or Native American or Alaska Native population that resides 
in a specific geographic region such as a city, county, state, or 
states, such as: (a) Tribes, Tribal entities, Alaska Native Villages 
(also known as Village Governments), Village Corporations, Regional 
Corporations, Non-Profit Regional Corporations/Associations, or Inter-
Tribal or Inter-Village organizations; or (b) non-profit community 
organizations engaged in related activities, including but not limited 
to: community development corporations (CDCs), training and educational 
organizations, Tribally-Controlled Community Colleges, Chambers of 
Commerce, or Urban Indian Centers that have a mission and practice of 
serving primarily a Native American or Alaska Native community 
(applicants in this category must establish entities that will become 
Fund-certified CDFIs by January 24, 2005); or
    (iii) Category 3: TA Providers or Other Suitable Providers: (a) TA 
Providers, including firms that provide training or TA in community 
development finance or that specialize in economic development in 
Native American or Alaska Native communities, or (b) other suitable 
providers, as defined by the Fund, that include, but are not limited 
to: CDCs, certified CDFIs, organizations with experience and expertise 
in banking and lending in Native American or Alaska Native communities 
(applicants in this category must establish entities that will become 
Fund-certified CDFIs by January 24, 2005). Applicants applying under 
Category 3 must have a NACTA Eligible Partner. Generally, entities that 
are not accountable to a specific Tribe or group of Tribes, Alaska 
Native Village or group of Villages, or Native American or Alaska 
Native population that resides in a specific geographic region such as 
a city, county, state, or states, even though they may be owned or 
managed by an individual or group of individuals who are of Native 
American or Alaska Native ancestry, will be considered to be a Category 
3 applicant. For example, a consulting firm owned by and serving Native 
Americans, or a Non-Native CDFI, will be considered a Category 3 
applicant and will need a NACTA Eligible Partner. The Fund, in its sole 
discretion, reserves the right to waive this requirement.
    For the purposes of this NOFA, to be certified as a CDFI by the 
Fund, 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; or 
if not a regulated financial institution, provide loans or equity 
investments as its predominant business activity; serve an eligible 
Target Market, which may consist of an Investment Area(s) or a targeted 
population; provide development services; maintain community 
accountability; and not be controlled by an instrumentality or division 
of the United States Government. 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.
    NACTA Component applicants, including CDFIs, that do not serve 
primarily a Native American or Alaska Native population must identify a 
NACTA Eligible Partner(s) that serves primarily a Native American or 
Alaska Native population and that the applicant will work with to 
establish a CDFI in the NACTA Eligible Partner's community or service 
area that will serve primarily a Native American or Alaska Native 
population.
    For purposes of this NOFA, the Fund will use the following 
definition, 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): American Indian, Native 
American or Alaska Native means 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.
    Further details regarding eligibility and other program 
requirements are found in the application packet related to this NOFA.
    For purposes of determining whether or not the applicant is serving 
an eligible Investment Area, the Fund will continue to use 1990 Census 
data, as 2000 Census data will not be available in sufficient detail 
for use under this NOFA.

III. Types of Assistance

    An applicant under this NOFA may submit an application for a TA 
grant. 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. The role of NACTA Eligible 
Partner, if applicable, must also be described.

IV. Application Packet

    An applicant under this NOFA must submit the materials described in 
the application form.

V. 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

[[Page 48932]]

assign numeric scores related to the applicant's Comprehensive CDFI 
Development Plan.

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:
    (1) Comprehensive CDFI Development Plan: 60 points maximum; with a 
minimum score of 30 points required to advance to Phase Two review. The 
score for the CDFI Development Plan is based on a composite assessment 
of an applicant's strength and weaknesses under several sub-criteria. 
The number and scoring of the sub-criteria will be different for each 
of the applicant categories described under Eligibility (above), as 
follows:
    (i) Category 1: CDFIs that Primarily Serve Native American or 
Alaska Native Populations: 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). The sub-
criteria are:
    (a) Community development track record (established organizations 
only): 10 point maximum;
    (b) Financial track record or condition (established organizations 
only); 10 point maximum;
    (c) Capacity, skills and experience of the management team: 10-
point maximum (established organizations); and 30 point maximum (start-
ups);
    (d) Market analysis, program implementation, and impact: Projected 
activities and community development impact (the plan to establish or 
strengthen a CDFI and how that entity will have a positive impact in 
the community that it [will] serves): 30 point maximum.
    (ii) Category 2: Tribes, Tribal Entities, or Non-Profit 
Organizations that Primarily Serve Native American or Alaska Native 
Populations:
    (a) Community development track record--economic development, 
community development, and training (such as financial literacy, small 
business finance, homebuyer education): 10 point maximum for Tribal and 
Village Governments; 5 point maximum for all other applicants in this 
category;
    (b) Financial track record--of lending operations, if applicable, 
and financial condition of the applicant: 5 point maximum (although 
Tribal and Village Governments will not be scored under this sub-
criteria, if they have a housing or business lending operation, they 
must submit the information requested for that operation only, which 
will be considered during Phase Two of the Fund's review process);
    (c) Capacity, skills and experience of the management team (i.e., 
the individuals that will be developing the CDFI being established 
relevant to this application): 20 point maximum;
    (d) Market analysis, program implementation, and impact: Projected 
activities and community development impact (the plan to establish or 
strengthen a CDFI and how that entity will have a positive impact in 
the community that it [will] serves): 30 point maximum.
    (iii) Category 3: TA Providers or Other Suitable Providers:
    (a) Community development track record `` experience and track 
record of financing activities, building capacity of a CDFI or other 
community development organization, or training and technical 
assistance activities, including program design, program evaluation, 
and staff or institutional skill-building in general and in Native 
American and Alaska Native communities; 10 point maximum total (5 
points for general track record; 5 points for track record in Native 
American or Alaska Native communities);
    (b) Financial condition of applicant; 5 point maximum;
    (c) Capacity, skills and experience of the management team (i.e., 
consulting team and the NACTA Eligible Partner): 15 point maximum;
    (d) Market analysis, program implementation and impact: Projected 
activities and community development impact (the plan to establish or 
strengthen a CDFI and how that entity will have a positive impact in 
the community that it [will] serves): 30 point maximum.
    In the case of an applicant that has previously received an award 
from the Fund, the Fund will consider the applicant's level of success 
in meeting its performance goals, financial soundness covenants (if 
applicable), 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.
    (2) Technical Assistance Proposal (TAP): 40 point maximum; with a 
minimum score of 20 points required to advance to Phase Two review. The 
TAP provides the applicant with an opportunity to address the 
organizational improvements needed to strengthen or establish a CDFI 
that will serve a Native American or Alaska Native population as 
defined in the plan above. Such assessment is accompanied by an 
itemized budget with written justification for each item. In the TAP, 
the applicant should describe: (i) the entity that will be the 
beneficiary of the TA requested (the applicant, the partner, or the 
entity to be formed) and (ii) how this assistance will translate to 
community development impact, particularly within the Target Market; 
and (iii) why NACTA resources are needed to carry out this plan. The 
budget, budget justification and accompanying narrative will be 
evaluated for the eligibility of proposed uses of the TA funds. 
Eligible types of TA award uses will be different for each of the 
groups of eligible applicants as follows:
    (i) Category 1: CDFIs that Primarily Serve Native American or 
Alaska Native Populations:
    (a) Acquiring consulting services;
    (b) Paying staff salary connected with the limited purposes of 
completing tasks and/or fulfilling functions that are otherwise 
eligible TA award uses under this NOFA;
    (c) Acquiring training for staff, management, or board members; and
    (d) Acquiring/enhancing technology items, for the purposes of 
building internal capacity to increase community development impact.
    (ii) Category 2: Tribes, Tribal Entities, or Non-Profit 
Organizations that Primarily Serve Native American or Alaska Native 
Populations:
    (a) Acquiring consulting services and
    (b) Acquiring training for staff, management, or board members.
    (iii) TA Providers or Other Suitable Providers:
    (a) Acquiring consulting services, and
    (b) Paying staff salary connected with the limited purposes of 
completing tasks and/or fulfilling functions that are otherwise 
eligible TA award uses under this NOFA (i.e., to provide consulting 
services to establish a CDFI that will serve a Native American or 
Alaska Native population).
    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 (for example, the 
cost of designing a marketing plan for a loan product through a 
consulting contract is a non-recurring expense, but the cost of 
producing or distributing printed marketing materials is an ongoing 
expense; generally, except as described

[[Page 48933]]

below, salary expenses for staff are ongoing, but the cost of a 
consulting contract for a discrete scope of services is a non-recurring 
expense).
    TA funds may be used to engage consultants to perform tasks related 
to implementing the proposed Comprehensive CDFI Development Plan or 
TAP, such as: development of plans and strategies (for example: market 
analysis; financial product development plan; financial product 
marketing plan; or capitalization strategy identifying financial 
objectives); development of lending policies and procedures; and other 
tasks related to the development or strengthening of a CDFI.
    The Fund will consider requests for use of TA to cover staff salary 
only when the applicant demonstrates and represents that: the proposed 
staff time to be covered by the TA will be used for, generally 
speaking, a non-recurring activity that will build the capacity of the 
applicant (for Category 1 applicants) or the proposed entity (for 
Category 2 applicants) to achieve its objectives of the CDFI 
Development Plan and Technical Assistance Proposal; and the staff 
person assigned to the proposed task has the competence to successfully 
complete the activity.
    Applicants in eligibility Category 1 (meaning, current or start-up 
CDFIs that propose to build their own capacity) must show that the 
proposed capacity building activity would otherwise be contracted to a 
consultant or not be undertaken and the staff time devoted to this 
capacity-building activity would not otherwise harm other operations. 
Additionally, TA may only be used to cover that portion of a staff 
person(s) salary that represents the time that staff person(s) spends 
on the identified capacity-building activities, but not to exceed the 
equivalent of 50 percent of said employee's annual salary within one 
year; staff salary use of TA may be spread over a period of up to 24 
months. For example, it may be an eligible use of a TA grant to pay the 
salary of staff assigned the task of creating or updating a market 
analysis or designing underwriting criteria for a new loan or 
investment product when that market analysis or loan product is 
critical to achieving the objectives of the Comprehensive CDFI 
Development Plan and Technical Assistance Proposal. NACTA award funds 
may not be used to cover employee fringe benefits, space allocation, or 
administrative overhead.
    Applicants in eligibility Category 3 (meaning, TA providers and 
other suitable providers that propose to start a CDFI) may request TA 
for staff salary to implement a reasonable scope of work at rates that 
are consistent with the provider's previous market experience or rates 
of pay.
    NACTA Component funds may not be used 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 prior awardees, 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 $100,000, 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 pervious 
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.

VI. 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, through 
October 31, 2001, in the following cities: Anchorage, AK; Boston, MA; 
Chicago, IL; Dallas, TX; Denver, CO; Honolulu, HI; Los Angeles, CA; 
Memphis, TN; Miami, FL; Minneapolis, MN; Philadelphia, PA; Seattle, WA; 
and Washington, DC.
    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, MS; Jacksonville, FL; Kansas City, KS; 
Knoxville, TN; Las Vegas, NV; Little

[[Page 48934]]

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; P.L. 106-377; 
12 CFR part 1806.

Tony Brown,
Director, Community Development Financial Institutions Fund.
[FR Doc. 01-23671 Filed 9-21-01; 8:45 am]
BILLING CODE 4810-70-P