[Federal Register Volume 69, Number 232 (Friday, December 3, 2004)]
[Notices]
[Pages 70307-70313]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-26597]



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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting applications for the FY 2005 funding round of the Technical 
Assistance Component of the Community Development Financial 
Institutions Program.
    Announcement Type: Initial announcement of funding opportunity.
    Catalog of Federal Domestic Assistance (CDFA) Number: 21.020.

DATES: Applications for the FY 2005 funding round must be received by 5 
p.m. ET on January 25, 2005. All applications submitted must meet all 
eligibility and other requirements and deadlines, as applicable, set 
forth in this NOFA. Applications received after 5 p.m. ET on the 
applicable deadline will be rejected and returned to the sender.
    Executive Summary: This NOFA is issued in connection with the FY 
2005 funding round of the Technical Assistance (TA) Component of the 
Community Development Financial Institutions (CDFI) Program. Through 
the TA Component, the Community Development Financial Institutions Fund 
(the Fund) provides TA grants to CDFIs and entities proposing to become 
CDFIs in order to build their capacity to better address the community 
development and capital access needs of their particular target 
markets. Eligible uses of TA grant funds are set forth in section I.B 
of this NOFA.

I. Funding Opportunity Description; Award Information

A. Award Information

    Through this NOFA, the Fund intends to provide TA grants to build 
Awardee capacity to serve Target Market(s). Subject to funding 
availability, the Fund expects that it may award approximately $2 
million in appropriated funds through this NOFA. The Fund reserves the 
right to award in excess of $2 million in appropriated funds under this 
NOFA, provided that the funds are available and the Fund deems it 
appropriate. Through this NOFA, the Fund anticipates making awards up 
to $50,000 each. The Fund, in its sole discretion, reserves the right 
to award amounts in excess of or less than the anticipated maximum 
award amount if the Fund deems it appropriate. Further, 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. The Fund reserves 
the right to re-allocate funds from the amount that is anticipated to 
be available under this NOFA to other Fund programs, particularly if 
the Fund determines that the number of awards made under this NOFA is 
fewer than projected.

B. Types of Awards

    TA awards are in the form of grants. An Applicant may submit an 
application for a TA grant only under this NOFA. Entities seeking 
financial assistance (FA) awards or a combination of FA awards and TA 
grants should apply for funds through the FA Component or the Native 
American CDFI Assistance (NACA) Component of the CDFI Program.
    The Fund reserves the right, in its sole discretion, to provide a 
TA grant for uses and amounts other than that which is requested by an 
Applicant. Applicants for TA grants 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 description of how the 
TA will enhance their ability to serve their Target Market(s).
    Eligible types of TA grant 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 grant uses under this NOFA; 
(3) acquiring/enhancing technology including, but not limited to, 
upgrading the organization's capacity to collect, electronically track, 
and report community development impact data; and (4) acquiring 
training for staff or management.
    The Fund will generally not consider requests for TA grants under 
this NOFA for expenses that, in the determination of the Fund, are 
deemed to be ongoing operating expenses rather than nonrecurring 
expenses. The Fund will consider requests for use of TA to pay for 
staff salary only when the applicant demonstrates, to the Fund's 
satisfaction, that:
    (i) The staff salary relates directly to building the applicant's 
capacity to serve its target market, including its ability to collect, 
electronically track and report community development impact data;
    (ii) The proposed staff time to be paid for by the TA grant will be 
used for a non-recurring activity that will build the applicant's 
capacity to achieve its objectives as set forth in its application;
    (iii) The proposed capacity-building activity would otherwise be 
contracted to a consultant or not be undertaken; and
    (iv) The staff person assigned to the proposed task has the 
competence to successfully complete the activity. The Fund may consider 
funding requests for other staff salary uses, deemed appropriate by the 
Fund in its sole discretion, particularly for applicants that have been 
in operation 24 months or less as of the date of application.
    Further guidance on the limited uses of TA grants for staff salary 
expenditures is available on the Fund's Web site at http://www.cdfifund.gov.

C. Notice of Award; Assistance Agreement

    Each Awardee under this NOFA must sign a Notice of Award (for 
further information, see Section V.A, below) and an Assistance 
Agreement (see Section V.B, below) prior to disbursement by the Fund of 
award proceeds. The Notice of Award and the Assistance Agreement 
contain the terms and conditions of the award.

D. CDFI Program Regulations/Interim Rule

    The regulations governing the CDFI Program can be found at 12 CFR 
part 1805 (the Interim Rule) and provide guidance on evaluation 
criteria and other requirements of the CDFI Program. The Fund 
encourages Applicants to review the Interim Rule. Detailed application 
content requirements are found in the application related to this NOFA. 
Each capitalized term in this NOFA is more fully defined in the Interim 
Rule or the application.

II. Eligibility Information

A. Eligible Applicants

    The Interim Rule specifies the eligibility requirements that each 
Applicant must meet in order to be eligible to apply for assistance 
under this NOFA. The following sets forth additional detail and dates 
that relate to the submission of applications under this NOFA:
    1. CDFI Certification: For purposes of this NOFA, eligible 
Applicants include:
    (a) Any certified CDFI whose certification has not expired and/or 
that has not been notified by the Fund that its certification has been 
terminated must submit a ``Certification of Material Change Form'' to 
the Fund not later than January 14, 2005, in accordance with the 
instructions on the Fund's Web site at http://www.cdfifund.gov. Failure 
to timely submit said form may result in the funding application being 
deemed fatally incomplete and rejected without further review. Please 
note that the Fund provided a number of CDFIs with certifications 
expiring in 2003 through

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2005 with written notification that their certifications have been 
extended. The Fund will consider the extended certification date (the 
later date) to determine whether those CDFIs meet this eligibility 
requirement; or
    (b) Any Applicant from which the Fund receives a complete CDFI 
certification application no later than January 14, 2005, evidencing 
that the Applicant can be certified as a CDFI. Applicants may obtain 
CDFI certification applications through the Fund's Web site at http://www.cdfifund.gov. Applications for certification must be submitted as 
instructed in the application form; or
    (c) An entity that demonstrates to the satisfaction of the Fund 
that it has a reasonable plan to become a certified CDFI by January 31, 
2007. Such Applicants must complete the related information in the 
application and must be certified by said date.
    2. Prior Awardees: Applicants must be aware that success in a prior 
round of any of the Fund's programs is not indicative of success under 
this NOFA. Prior awardees are eligible to apply under this NOFA, except 
as follows:
    (a) Non-certified Applicants. Any entity that has received a Notice 
of Award from the Fund for a prior funding round of the CDFI Program or 
the Native Initiatives Funding Programs, but that has not submitted a 
CDFI certification application nor been certified as a CDFI, is not 
eligible to receive funding under this NOFA (see Section II.A.2, 
above).
    (b) $5 Million Funding Cap. 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 any three-
year period. For the purposes of this NOFA, the period extends back 
three years from the date that the Fund signs a Notice of Award issued 
to an Awardee under this NOFA.
    (c) Failure to Meet Reporting Requirements. The Fund will not 
consider an application submitted by an Applicant if that Applicant, or 
an entity that Controls the Applicant, is Controlled by the Applicant, 
or shares common management officials with the Applicant (as determined 
by the Fund), is a prior Fund Awardee or allocatee under any Fund 
program and is not current on the reporting requirements set forth in 
any previously executed assistance, allocation or award agreement(s) 
with the Fund, as of the application deadline of this NOFA. Please note 
that the Fund only acknowledges the receipt of reports that are 
complete. As such, incomplete reports or reports that are deficient of 
required elements will not be recognized as having been received.
    (d) Pending Resolution of Noncompliance. If (i) an Applicant is a 
prior Awardee or allocatee under any Fund program and has submitted 
complete and timely reports to the Fund that demonstrate noncompliance 
with a previous assistance, award or allocation agreement, and (ii) the 
Fund has yet to make a final determination as to whether the entity is 
in default of its previous assistance, award or allocation agreement, 
then the Fund will consider the Applicant's application under this NOFA 
pending final resolution, in the sole determination of the Fund, of the 
instance of noncompliance. Further, if (i) another entity that Controls 
the Applicant, is Controlled by the Applicant, or shares common 
management officials with the Applicant (as determined by the Fund) is 
a prior Fund Awardee or allocatee and such entity has submitted 
complete and timely reports to the Fund that demonstrate noncompliance 
with a previous assistance, award or allocation agreement, and (ii) the 
Fund has yet to make a final determination as to whether the entity is 
in default of its previous assistance award or allocation agreement, 
then the Fund will consider the Applicant's application under this NOFA 
pending final resolution, in the sole determination of the Fund, of the 
instance of noncompliance.
    (e) Default Status. The Fund will not consider an application 
submitted by an Applicant that is a prior Fund Awardee or allocatee 
under any Fund program if, as of the application deadline of this NOFA, 
the Fund has made a final determination that such Applicant is in 
default of a previously executed assistance, award or allocation 
agreement(s) and the Fund has provided written notification of such 
determination to such Applicant. Further, an entity is not eligible to 
apply for an award pursuant to this NOFA if, as of the application 
deadline, (i) the Fund has made a final determination that another 
entity that Controls the Applicant, is Controlled by the Applicant, or 
shares common management officials with the Applicant (as determined by 
the Fund) is a prior Fund Awardee or allocatee under any Fund program 
and that has been determined by the Fund to be in default of a 
previously executed assistance award or allocation agreement(s), and 
(ii) the Fund has provided written notification of such determination 
to the defaulting entity.
    (f) Termination in Default. The Fund will not consider an 
application submitted by an Applicant that is a prior Fund Awardee or 
allocatee under any Fund program if, within the 12-month period prior 
to the application deadline of this NOFA, the Fund has made a final 
determination that such Applicant's prior award or allocation 
terminated in default of the assistance, award or allocation agreement 
and the Fund has provided written notification of such determination to 
such Applicant. Further, an entity is not eligible to apply for an 
award pursuant to this NOFA if, within the 12-month period prior to the 
application deadline of this NOFA, (i) the Fund has made a final 
determination that another entity that Controls the Applicant, is 
Controlled by the Applicant, or shares common management officials with 
the Applicant (as determined by the Fund), is a prior Fund Awardee or 
allocatee under any Fund program whose award or allocation terminated 
in default of the assistance, award or allocation agreement, and (ii) 
the Fund has provided written notification of such determination to the 
defaulting entity.
    (g) Undisbursed Balances. The Fund will not consider an application 
submitted by an Applicant that is a prior Fund Awardee under any Fund 
program if the Applicant has a balance of undisbursed funds (defined 
below) under said prior award(s), as of the application deadline of 
this NOFA. Further, an entity is not eligible to apply for an award 
pursuant to this NOFA if another entity that Controls the Applicant, is 
Controlled by the Applicant or shares common management officials with 
the Applicant (as determined by the Fund), is a prior Fund Awardee 
under any Fund program, and has a balance of undisbursed funds under 
said prior award(s), as of the application deadline of this NOFA. In 
the case where another entity Controls the Applicant, is Controlled by 
the Applicant or shares common management officials with the Applicant 
(as determined by the Fund), is a prior Fund Awardee under any Fund 
program, and has a balance of undisbursed funds under said prior 
award(s), as of the application deadline of this NOFA, the Fund will 
include the combined awards of the Applicant and such Affiliates when 
calculating the amount of undisbursed funds. For the purposes of this 
section, ``undisbursed funds'' is defined as (i) in the case of prior 
Bank Enterprise Award (BEA) Program award(s), any balance of award 
funds equal to or greater than five (5) percent of the total prior BEA 
Program award(s) for which a BEA award agreement has been fully 
executed that remains undisbursed more than three

[[Page 70309]]

(3) years after the end of the calendar year in which the Fund signed 
an award agreement with the BEA awardee, and (ii) in the case of prior 
CDFI Program or other Fund program award(s), any balance of award funds 
equal to or greater than five (5) percent of the total prior award(s) 
for which an Assistance Agreement has been fully executed that remains 
undisbursed more than two (2) years after the end of the calendar year 
in which the Fund signed an Assistance Agreement with the Awardee. 
``Undisbursed funds'' does not include (i) tax credit allocation 
authority allocated through the New Markets Tax Credit Program; (ii) 
any award funds for which the Fund received a full and complete 
disbursement request from the Awardee as of the application deadline of 
this NOFA; (iii) any award funds for an award that has been terminated, 
expired, rescinded or deobligated by the Fund; and (iv) any award funds 
for an award that does not have a fully executed assistance or award 
agreement. The Fund strongly encourages Applicants requesting 
disbursements from prior awards to provide the Fund with a complete 
disbursement request at least 20 business days prior to the application 
deadline of this NOFA.
    (h) Contact the Fund. Accordingly, Applicants that are prior 
Awardees are advised to: (i) Comply with requirements specified in 
assistance, award and/or allocation agreement(s), and (ii) contact the 
Fund to ensure that all necessary actions are underway for the 
disbursement of any outstanding balance of said prior award(s). All 
outstanding reports, compliance or disbursement questions should be 
directed to the Grants Management and Compliance Manager by e-mail at 
[email protected]; by telephone at (202) 622-8226; by facsimile at 
(202) 622-6453; or by mail to CDFI Fund, 601 13th Street, NW., Suite 
200 South, Washington, DC 20005. The Fund will respond to Applicants' 
reporting, compliance or disbursement questions between the hours of 9 
a.m. and 5 p.m. ET, starting the date of the publication of this NOFA 
through January 21, 2005 (2 business days before the application 
deadline). The Fund will not respond to Applicants' reporting, 
compliance or disbursement phone calls or e-mail inquiries that are 
received after 5 p.m. on January 21, 2005, until after the funding 
application deadline of January 25, 2005.
    (i) Entities that submit applications together with Affiliates; 
applications from common enterprises: As part of the award application 
review process, the Fund considers whether Applicants are Affiliates, 
as such term is defined in the Interim Rule. If an Applicant and its 
Affiliates wish to submit award applications, they must do so 
collectively, in one application; an Applicant and its Affiliates may 
not submit separate award applications. If Affiliated entities submit 
multiple applications, the Fund reserves the right either to reject all 
such applications received or to select a single application as the 
only one that will be considered for an award. For purposes of this 
NOFA, in addition to assessing whether Applicants meet the definition 
of the term ``Affiliate'' found in the Interim Rule, the Fund will 
consider: (i) whether the activities described in applications 
submitted by separate entities are, or will be, operated or managed as 
a common enterprise that, in fact or effect, could be viewed as a 
single entity; and (ii) whether the business strategies and/or 
activities described in applications submitted by separate entities are 
so closely related that, in fact or effect, they could be viewed as 
substantially identical applications. In such cases, the Fund reserves 
the right either to reject all applications received from all such 
entities or to select a single application as the only one that will be 
considered for an award.
    3. Limitation on Awards: An Applicant may apply for and receive TA 
awards from the Fund through the TA Component, the NACA Component and/
or the FA Component of the CDFI Program, but only to the extent that 
the approved uses of TA under such Components are different. In 
addition, a TA Component Applicant, its Subsidiaries or Affiliates may 
apply for: (i) A FA award through the FA Component and the NACA 
Component of the CDFI Program; (ii) a tax credit allocation through the 
New Markets Tax Credit (NMTC) Program, but only to the extent that the 
activities approved for a FA Component award are different from those 
activities for which the Applicant received a NMTC Program allocation; 
and (iii) an award through the Bank Enterprise Award (BEA) Program 
(subject to certain limitations; refer to the Interim Rule at 12 CFR 
1805.102).
    4. Other Targeted Populations: Other Targeted Populations are 
defined as identifiable groups of individuals in the Applicant's 
service area for which there exists a strong basis in evidence that 
they lack access to loans, Equity Investments and/or Financial 
Services. The Fund has determined that there is strong basis in 
evidence that the following groups of individuals lack access to loans, 
Equity Investments and/or Financial Services on a national level: 
Blacks or African Americans, Native Americans or American Indians, and 
Hispanics or Latinos. In addition, for purposes of this NOFA, the Fund 
has determined that there is a strong basis in evidence that Alaska 
Natives residing in Alaska, Native Hawaiians residing in Hawaii, and 
Other Pacific Islanders residing in other Pacific Islands, lack 
adequate access to loans, Equity Investments or Financial Services. An 
Applicant designating any of the above-cited Other Targeted Populations 
is not required to provide additional narrative explaining the Other 
Targeted Population's lack of adequate access to loans, Equity 
Investments or Financial Services. Additionally, the Fund recognizes 
that there may be other such groups for which there is strong basis in 
evidence that they lack access to loans, Equity Investments and/or 
Financial Services. Such groups may be identified, and evidence of such 
lack of access may be provided, in the Market Need section of the 
application associated with this NOFA, and the application for CDFI 
certification (if not identified in the Target Market of a currently 
certified CDFI).
    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), as amended and 
supplemented:
    (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, 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'');
    (d) Native Hawaiian: A person having origins in any of the original 
peoples of Hawaii; and
    (e) Other Pacific Islander: A person having origins in any of the 
original peoples of Guam, Samoa or other Pacific Islands.
    For further detail, please visit the Fund's Web site at http://www.cdfifund.gov, under Certification[bs]Supplemental 
Information.

[[Page 70310]]

III. Application and Submission Information

A. Form of Application Submission

    Applicants must submit applications under this NOFA in paper form. 
Applications sent by facsimile will not be accepted. Detailed 
application content requirements are found in the application related 
to this NOFA which may be found at the Fund's Web site, http://www.cdfifund.gov. The Fund will send paper application materials to 
Applicants that are unable to download them from the Web site. To have 
application materials sent to you, contact the Fund by telephone at 
(202) 622-6355; by email at [email protected]; or by facsimile at 
(202) 622-7754. These are not toll free numbers.

B. Application Content Requirements

    Detailed application content requirements are found in the FY 2005 
application and guidance. Please note that, pursuant to OMB guidance 
(68 Federal Register 38402), each Applicant must provide, as part of 
its application submission, a Dun and Bradstreet Data Universal 
Numbering System (DUNS) number. In addition, each application must 
include a valid and current Employer Identification Number (EIN), with 
a letter or other documentation from the Internal Revenue Service (IRS) 
confirming the Applicant's EIN. Incomplete applications will be 
rejected and returned to the sender.

C. MyCDFIFund Accounts

    All Applicants must register User and Organization accounts in 
myCDFIFund, the Fund's Internet-based interface. Applicants must be 
registered as both a User and an Organization in myCDFIFund as of the 
application deadline in order to be considered to have submitted a 
complete application. As myCDFIFund is the Fund's primary means of 
communication with Applicants and Awardees, organizations must make 
sure that they update the contact information in their myCDFIFund 
accounts. For more information on myCDFIFund, please see the Help 
documents posted at http://www.cdfifund.gov/myCDFI/Help/Help.asp.

D. Application Submission Dates and Times; Addresses

    Applicants must submit all materials described in and required by 
the application by the applicable deadline. Applicants will not be 
afforded an opportunity to provide any missing materials or 
documentation after the deadline.
    A complete application must be received at the address set forth 
below by 5 p.m. ET on January 25, 2005, and must include an original 
signature page (which includes a DUNS number), a letter or other 
documentation from the Internal Revenue Service confirming the 
Applicant's EIN, and all other required attachments. Applications must 
be submitted in the format and with the number of copies specified in 
the application instructions. Applications must be sent to: CDFI Fund 
Grants Management and Compliance Manager, TA Component, Bureau of 
Public Debt, 200 Third Street, Room 10, Parkersburg, WV 26101. The 
telephone number to be used in conjunction with overnight delivery or 
mailings to this address is (304) 480-5450. Applications received in 
the Fund's offices will be rejected and returned to the sender.

E. Late Delivery

    The Fund will not grant exceptions or waivers for late delivery of 
documents including, but not limited to, late delivery that is caused 
by third parties such as the United States Postal Service, couriers or 
overnight delivery services.

IV. Intergovernmental Review

    Not applicable.

V. Funding Restrictions

    For allowable uses of TA award proceeds, please see section I.B. of 
this NOFA.

VI. Application Review Information

A. Criteria

    The Fund will evaluate each application using numeric scores with 
respect to the following four sections:
    1. Market Need and CDFI Strategy: including a review of the 
Applicant's understanding of the extent of economic distress within the 
designated Investment Area(s) or the extent of need among the 
designated Targeted Population(s) (including economic distress caused 
by severe natural disasters in an Investment Area(s) that has been 
declared to be a Major Disaster area by the Federal Emergency 
Management Agency (see http://www.fema.gov) or an equivalent state or 
local agency), the extent of need for the CDFI, the appropriateness of 
the proposed products, services and delivery strategy to meet the needs 
in the market;
    2. Management: including a review of the Applicant's current and 
proposed management team, governing board, and key staff, its policies 
and procedures for financial management, and its track record in 
underwriting and portfolio management and ability to achieve the 
objectives set forth in its application and track its community 
development impacts; and to successfully use and track the use of the 
requested TA award and maintain compliance with its Assistance 
Agreement(s). If an Applicant has received one or more prior awards 
through the CDFI Program, the Fund will consider the extent to which 
the Applicant has submitted required reports in a timely manner and 
otherwise complied with the Fund's requirements (as described in 
section VI.B, Review and Selection Process, below);
    3. Financial Health and Resources: including a review of the 
Applicant's financial strength, its liquidity, and the likelihood of 
obtaining resources to sustain operations, and a clear indication that 
the Applicant will not be fiscally dependent on the Fund; and
    4. Community Development Performance and Effective Use of TA: 
including the projected level of activity within the Target Market; the 
extent to which the proposed activities are expected to promote 
community development objectives and are likely to create measurable 
community development impact; the extent to which the Applicant needs 
the TA award to achieve the objectives set forth in its application; 
and the likelihood that the TA award will enhance the Applicant's 
ability to effectively serve its Target Market and achieve measurable 
community development impact.

B. Review and Selection Process

    All applications will be reviewed for eligibility and completeness. 
To be complete, the application must contain, at a minimum, all 
information described as required in the application form. An 
incomplete application will be rejected as incomplete and returned to 
the sender. The application of an Applicant that does not meet the 
eligibility requirements will be rejected.
    If determined to be eligible and complete, the Fund will conduct 
the substantive review of each application in accordance with the 
criteria and procedures described in the Interim Rule, this NOFA, and 
the application and guidance.
    Each application will be reviewed and scored by a reader. 
Applications will be scored on a 100-point scale, with a maximum of 25 
points allotted to each of the criteria sections described above. 
Applicants must score at least 12 points in each criteria section to be 
considered for funding. The Fund will rank the applications that meet 
the 12-point per criteria section requirement from highest to lowest 
total score and will

[[Page 70311]]

make award decisions in the order of the ranking until all funds 
available through this NOFA have been committed.
    As part of the review process, the Fund may contact the Applicant 
by telephone or e-mail or through an on-site visit for the purpose of 
obtaining clarifying or confirming application information. The 
Applicant may be required to submit additional information to assist 
the Fund in its evaluation process. Such requests must be responded to 
within the time parameters set by the Fund.
    In the case of an Applicant that has previously received funding 
from the Fund through any Fund program, the Fund will consider and may 
deduct points for: (i) The Applicant's noncompliance with any active 
award or award that terminated in the fiscal year that ended in 
calendar year 2004, in meeting its performance goals, financial 
soundness covenants (if applicable), reporting deadlines and other 
requirements set forth in the assistance or award agreement(s) with the 
Fund during the Applicant's two complete fiscal years prior to the 
application deadline of this NOFA (generally FY 2003 and 2004); and 
(ii) the Applicant's failure to make timely loan payments to the Fund 
during the Applicant's two complete fiscal years prior to the 
application deadline of this NOFA (if applicable). Additionally, the 
Fund may take into account performance on any prior Assistance 
Agreement as part of the overall assessment of the Applicant's ability 
to carry out its Comprehensive Business Plan. All outstanding reports 
or compliance questions should be directed to the Grants Management and 
Compliance Manager by e-mail at [email protected]; by telephone at 
(202) 622-8226; by facsimile at (202) 622-6453; or by mail to CDFI 
Fund, 601 13th Street, NW., Suite 200 South, Washington, DC 20005. The 
Fund will respond to reporting or compliance questions between the 
hours of 9 a.m. and 5 p.m. ET, starting the date of the publication of 
this NOFA through January 21, 2005. The Fund will not respond to 
reporting or compliance phone calls or e-mail inquiries that are 
received after 5 p.m. on January 21, 2005 until after the funding 
application deadline of January 25, 2005.
    The Fund will make a final funding determination based on the 
Applicant's file, reviewer scores and recommendations, and the amount 
of funds available. In the case of Insured CDFIs, the Fund will take 
into consideration the views of the Appropriate Federal Banking 
Agencies; in the case of State-Insured Credit Unions, the Fund may 
consult with the appropriate State banking agencies (or comparable 
entity).
    Each Applicant will be informed of the Fund's award decision either 
through a Notice of Award if selected for an award (see Notice of Award 
section, below) or written declination if not selected for an award. 
The Fund will notify Awardees by email using the addresses maintained 
in the Awardee's myCDFIFund account (postal mailings will be used only 
in rare cases).
    The Fund reserves the right to change its eligibility and 
evaluation criteria and procedures, if the Fund deems it appropriate; 
if said changes materially affect the Fund's award decisions, the Fund 
will provide information regarding the changes through the Fund's 
website.
    There is no right to appeal the Fund's award decisions. The Fund's 
award decisions are final.

VII. Award Administration Information

A. Notice of Award

    The Fund will signify its selection of an Applicant as an Awardee 
by delivering a signed Notice of Award to the Applicant. The Notice of 
Award will contain the general terms and conditions underlying the 
Fund's provision of assistance including, but not limited to, the 
requirement that the Awardee and the Fund enter into an Assistance 
Agreement. The Applicant must execute the Notice of Award and return it 
to the Fund. By executing a Notice of Award, the Awardee agrees that, 
if prior to entering into an Assistance Agreement with the Fund, 
information (including administrative error) comes to the attention of 
the Fund that either adversely affects the Awardee's eligibility for an 
award, or adversely affects the Fund's evaluation of the Awardee's 
application, or indicates fraud or mismanagement on the part of the 
Awardee, the Fund may, in its discretion and without advance notice to 
the Awardee, terminate the Notice of Award or take such other actions 
as it deems appropriate. Moreover, by executing a Notice of Award, the 
Awardee agrees that, if prior to entering into an Assistance Agreement 
with the Fund, the Fund determines that the Awardee is in default of 
any Assistance Agreement previously entered into with the Fund, the 
Fund may, in its discretion and without advance notice to the Awardee, 
either terminate the Notice of Award or take such other actions as it 
deems appropriate. The Fund reserves the right, in its sole discretion, 
to rescind its award if the Awardee fails to return the Notice of 
Award, signed by the authorized representative of the Awardee, along 
with any other requested documentation, within the deadline set by the 
Fund.
    1. Failure to meet reporting requirements: If an Applicant or an 
entity that Controls the Applicant, is Controlled by the Applicant or 
shares common management officials with the Applicant (as determined by 
the Fund) is a prior Fund Awardee or allocatee under any Fund program 
and is not current on the reporting requirements set forth in the 
previously executed assistance, award or allocation agreement(s), as of 
the date of the Notice of Award, the Fund reserves the right, in its 
sole discretion, to delay entering into an Assistance Agreement and/or 
to delay making a disbursement of award proceeds, until said prior 
Awardee or allocatee is current on the reporting requirements in the 
previously executed assistance, award or allocation agreement(s). 
Please note that the Fund only acknowledges the receipt of reports that 
are complete. As such, incomplete reports or reports that are deficient 
of required elements will not be recognized as having been received. If 
said prior Awardee or allocatee is unable to meet this requirement 
within the timeframe set by the Fund, the Fund reserves the right, in 
its sole discretion, to terminate and rescind the Notice of Award and 
the award made under this NOFA.
    2. Pending resolution of noncompliance: If (i) an Applicant is a 
prior Fund Awardee or allocatee under any Fund program and has 
submitted complete and timely reports to the Fund that demonstrate 
noncompliance with a previous assistance, award or allocation 
agreement, and (ii) the Fund has yet to make a final determination 
regarding whether or not the entity is in default of its previous 
assistance, award or allocation agreement, then the Fund reserves the 
right, in its sole discretion, to delay entering into an Assistance 
Agreement and/or to delay making a disbursement of award proceeds, 
pending full resolution, in the sole determination of the Fund, of the 
noncompliance. Further, if (i) another entity that Controls the 
Applicant, is Controlled by the Applicant or shares common management 
officials with the Applicant (as determined by the Fund), is a prior 
Fund Awardee or allocatee under any Fund program and such entity has 
submitted complete and timely reports to the Fund that demonstrate 
noncompliance with a previous assistance, award or allocation 
agreement, and (ii) the Fund has yet to

[[Page 70312]]

make a final determination as to whether the entity is in default of 
its previous assistance, award or allocation agreement, then the Fund 
reserves the right, in its sole discretion, to delay entering into an 
Assistance Agreement and/or to delay making a disbursement of award 
proceeds pending full resolution, in the sole determination of the 
Fund, of the noncompliance. If said prior Awardee or allocatee is 
unable to meet this requirement, the Fund reserves the right, in its 
sole discretion, to terminate and rescind the Notice of Award and the 
award made under this NOFA.
    3. Default status: If, at any time prior to entering into an 
Assistance Agreement under this NOFA, the Fund (i) has made a final 
determination that an Applicant that is a prior Fund Awardee or 
allocatee under any Fund program is in default of a previously executed 
assistance, award or allocation agreement(s), and (ii) has provided 
written notification of such determination to the Applicant, then the 
Fund reserves the right, in its sole discretion, to delay entering into 
an Assistance Agreement and/or to delay making a disbursement of award 
proceeds until said prior Awardee or allocatee has submitted a complete 
and timely report demonstrating full compliance with said agreement 
within a timeframe set by the Fund. Further, if, at any time prior to 
entering into an Assistance Agreement under this NOFA, the Fund (i) has 
made a final determination that another entity which Controls the 
Applicant or shares common management officials with the Applicant (as 
determined by the Fund) is a prior Fund Awardee or allocatee under any 
Fund program, and is in default of a previously executed assistance, 
award or allocation agreement(s) and (ii) has provided written 
notification of such determination to the defaulting entity, then the 
Fund reserves the right, in its sole discretion, to delay entering into 
an Assistance Agreement and/or to delay making a disbursement of award 
proceeds until said prior Awardee or allocatee has submitted a complete 
and timely report demonstrating full compliance with said agreement 
within a timeframe set by the Fund. If said prior Awardee or allocatee 
is unable to meet this requirement, the Fund reserves the right, in its 
sole discretion, to terminate and rescind the Notice of Award and the 
award made under this NOFA.
    4. Termination in default: If, within the 12-month period prior to 
entering into an Assistance Agreement under this NOFA, the Fund (i) has 
made a final determination that an Applicant with a prior award or 
allocation has been terminated in default of such prior agreement and 
(ii) has provided written notification of such determination to such 
organization, the Fund reserves the right, in its sole discretion, to 
delay entering into an Assistance Agreement and/or delay making a 
disbursement of award proceeds under this NOFA. Further, if, within the 
12-month period prior to entering into an Assistance Agreement under 
this NOFA, the Fund (i) has made a final determination that another 
entity which Controls the Applicant, is Controlled by the Applicant or 
shares common management officials with the Applicant (as determined by 
the Fund), is a prior Fund Awardee or allocatee under any Fund program, 
whose award or allocation terminated in default of such prior 
agreement(s), and (ii) has provided written notification of such 
determination to the defaulting entity, the Fund reserves the right, in 
its sole discretion, to delay entering into an Assistance Agreement 
and/or to delay making a disbursement of award proceeds.

B. Assistance Agreement

    Each Applicant that is selected to receive an award under this NOFA 
must enter into an Assistance Agreement with the Fund prior to 
disbursement of award proceeds. The Assistance Agreement will set forth 
certain required terms and conditions of the award, which will include, 
but not be limited to: (i) The amount of the award; (ii) the approved 
uses of the award; (iii) performance goals and measures; and (iv) 
reporting requirements for all Awardees. Assistance Agreements under 
this NOFA will generally have two-year performance periods.
    The Fund reserves the right, in its sole discretion, to rescind its 
award if the Awardee fails to return the Assistance Agreement, signed 
by the authorized representative of the Awardee, and/or provide the 
Fund with any other requested documentation, within the deadlines set 
by the Fund.
    In addition to entering into an Assistance Agreement, each Awardee 
that receives an award must provide the Fund with a good standing 
certificate (or equivalent documentation) from its state (or 
jurisdiction) of incorporation.

C. Reporting

    1. Reporting requirements: The Fund will collect information, on at 
least an annual basis, from each Awardee including, but not limited to, 
an Annual Report that comprises the following components: (i) Financial 
Report; (ii) Institution-Level Report; (iii) Transaction-Level Report 
(in the discretion of the Fund); (iv) Financial Status Report; (v) 
Explanation of Noncompliance (as applicable); and (vi) such other 
information as the Fund may require. Each Awardee is responsible for 
the timely and complete submission of the Annual Report, even if all or 
a portion of the documents actually is completed by another entity or 
signatory to the Assistance Agreement. If such other entities or 
signatories are required to provide Institution-Level Reports, 
Transaction-Level Reports, Financial Reports, or other documentation 
that the Fund may require, the Awardee is responsible for ensuring that 
the information is submitted timely and complete. The Fund reserves the 
right to contact such additional signatories to the Assistance 
Agreement and require that additional information and documentation be 
provided. The Fund will use such information to monitor each Awardee's 
compliance with the requirements set forth in the Assistance Agreement 
and to assess the impact of the CDFI Program. The Institution-Level 
Report and Transaction-Level Report must be submitted through the 
Fund's web-based data collection system, the Community Investment 
Impact System (CIIS). The Financial Report may be submitted through 
CIIS, or by fax or mail to the Fund. All other components of the Annual 
Report may be submitted to the Fund in paper form or other form to be 
determined by the Fund. The Fund reserves the right, in its sole 
discretion, to modify these reporting requirements if it determines it 
to be appropriate and necessary; however, such reporting requirements 
will be modified only after notice to Awardees.
    2. Accounting: The Fund will require each Awardee that receives TA 
awards through this NOFA to account for and track the use of said TA 
awards. This means that for every dollar of TA awards received from the 
Fund, the Awardee will be required to inform the Fund of its uses. This 
will require Awardees to establish separate administrative and 
accounting controls, subject to the applicable OMB Circulars. The Fund 
will provide guidance to Awardees outlining the format and content of 
the information to be provided on an annual basis, outlining and 
describing how the funds were used.

VIII. Agency Contacts

    The Fund will respond to questions and provide support concerning 
this NOFA and the funding application between the hours of 9 a.m. and 5 
p.m. ET, starting the date of the publication

[[Page 70313]]

of this NOFA through January 21, 2005. The Fund will not respond to 
questions or provide support concerning the application that are 
received after 5 p.m. ET on January 21, 2005, until after the funding 
application deadline of January 25, 2005. Applications and other 
information regarding the Fund and its programs may be obtained from 
the Fund's Web site at http://www.cdfifund.gov. The Fund will post on 
its Web site responses to questions of general applicability regarding 
the CDFI Program.

A. Information Technology Support

    Technical support can be obtained by calling (202) 622-2455 or by 
e-mail at [email protected]. People who have visual or mobility 
impairments that prevent them from creating an Investment Area map 
using the Fund's Web site should call (202) 622-2455 for assistance. 
These are not toll free numbers.

B. Programmatic Support

    If you have any questions about the programmatic requirements of 
this NOFA, contact the Fund's Program Operations Manager by e-mail at 
[email protected], by telephone at (202) 622-6355, 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.

C. Administrative Support

    If you have any questions regarding the administrative requirements 
of this NOFA, including questions regarding submission requirements, 
contact the Fund's Grants Management and Compliance Manager by e-mail 
at [email protected], by telephone at (202) 622-8226, by facsimile at 
(202) 622-6453, or by mail at CDFI Fund, 601 13th Street, NW., Suite 
200 South, Washington, DC 20005. These are not toll free numbers.

D. Legal Counsel Support

    If you have any questions or matters that you believe require 
response by the Fund's Office of Legal Counsel, please refer to the 
document titled ``How to Request a Legal Review,'' found on the Fund's 
Web site at http://www.cdfifund.gov.

E. Communication with the CDFI Fund

    The Fund will use its myCDFIFund Internet interface to communicate 
with Applicants and Awardees under this NOFA. Applicants must register 
through myCDFIFund in order to submit a complete application for 
funding. Awardees must use myCDFIFund to submit required reports. The 
Fund will notify Awardees by email using the addresses maintained in 
each Awardee's myCDFIFund account. Therefore, the Awardee and any 
Subsidiaries, signatories, and Affiliates must maintain accurate 
contact information (including contact person and authorized 
representative, email addresses, fax numbers, phone numbers, and office 
addresses) in their myCDFIFund account(s). For more information about 
myCDFIFund, please see the Help documents posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp.

IX. Information Sessions and Outreach

    In connection with the Fiscal Year 2005 funding round, the Fund may 
conduct Information Sessions to disseminate information to 
organizations contemplating applying to, and other organizations 
interested in learning about, the Fund's programs. For further 
information on the Fund's Information Sessions, dates and locations, or 
to register to attend an Information Session, please visit the Fund's 
Web site at http://www.cdfifund.gov or call the Fund at (202) 622-9046.

    Authority: 12 U.S.C. 4703, 4703 note, 4704, 4706, 4707, 4717; 12 
CFR part 1805.

    Dated: November 29, 2004.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
[FR Doc. 04-26597 Filed 12-2-04; 8:45 am]
BILLING CODE 4810-70-P