[Federal Register Volume 70, Number 177 (Wednesday, September 14, 2005)]
[Notices]
[Page 54446]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-18325]



[[Page 54446]]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Allocation Availability (NOAA) Inviting Applications 
for the CY 2006 Allocation Round of the New Markets Tax Credit Program

ACTION: Change of allocation application deadline.

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SUMMARY: On July 15, 2005, the Community Development Financial 
Institutions Fund (the ``Fund'') announced in a NOAA for the New 
Markets Tax Credit Program (70 FR 41075) that the deadline for 
electronic allocation applications is 5 p.m. ET on September 21, 2005. 
The NOAA also announced that paper allocation applications must be 
postmarked on or before September 21, 2005 and received by the Fund at 
the address cited in the NOAA by 5 p.m. ET on September 30, 2005. Due 
to the recent occurrence of certain natural disasters, the Fund will 
consider extending these deadlines, on a case-by-case basis, for 
applicants that have been directly affected by said disasters. In 
general, to be eligible for an application deadline extension, an 
applicant must demonstrate that it cannot submit its application by 
September 21, 2005 because:
    1. Its principal place of business is located in a county for which 
the Federal Emergency Management Agency (FEMA) has: a) issued a ``major 
disaster declaration'' since July 15, 2005; and b) made a determination 
that such county is eligible for both ``individual and public 
assistance''; or
    2. There exist mitigating factors directly attributable to the 
disaster-related conditions in a county for which FEMA has: a) issued a 
``major disaster declaration'' since July 15, 2005; and b) made a 
determination that such county is eligible for both ``individual and 
public assistance.''
    If you would like to request an application deadline extension, you 
must send your request via e-mail to [email protected] 
with the subject line ``Deadline Extension Request: 2006 NMTC 
Allocation Application.'' If you are unable to file your request by e-
mail, you may contact the Fund by telephone at (202) 622-8226 or by 
facsimile at (202) 622-6453. These are not toll free numbers. Be sure 
to indicate in your telephone message or fax that you are requesting an 
extension of the 2006 NMTC Allocation Application deadline.
    In your request, you must explain why the application deadline 
extension is necessary, citing the specific circumstances preventing 
your organization from completing and/or submitting the application 
materials by the deadlines set forth in the NOAA. You must address, at 
a minimum, whether: your offices were closed and/or were without 
electricity for significant periods of time; staff members were not 
available to work on the application materials during critical periods; 
and/or other application partners (e.g., investors, consultants, 
community partners) were not available to provide materials critical to 
the compilation of a complete application. To ensure full consideration 
of your request prior to the September 21, 2005 Allocation Application 
deadline, you should submit your extension request as soon as feasible 
and by no later than 5 p.m. ET, Monday, September 19, 2005. The Fund 
reserves the right, in its sole discretion, to request additional 
supporting documentation before rendering a final determination.
    Please also note that the Fund is not at this time accepting any 
requests to extend deadlines pertaining to the issuance of qualified 
equity investments by prior allocatees planning to apply for 
allocations in the CY 2006 round of the NMTC Program (see section 
III.A.2.(a) of the NOAA). The Fund may issue, in its sole discretion, 
additional guidance on this matter at a later date.
    All other information and requirements set forth in the July 15, 
2005 NOAA shall remain effective, as published.

FOR FURTHER INFORMATION CONTACT: The Fund will provide programmatic and 
information technology support related to the allocation application 
between the hours of 9 a.m. and 5 p.m. ET through September 19, 2005. 
The Fund will not respond to phone calls or e-mails concerning the 
application that are received after 5 p.m. ET on September 19, 2005 
until after the allocation application deadline of September 21, 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 NMTC 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 accessing the Low-Income Community 
maps 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 NOAA, contact the Fund's NMTC Program 
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 NOAA, contact the Fund's Grants 
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. IRS support: For questions regarding the tax aspects of the NMTC 
Program, contact Branch Five, Office of the Associate Chief Counsel 
(Passthroughs and Special Industries), IRS, by telephone at (202) 622-
3040, by facsimile at (202) 622-4753, or by mail at 1111 Constitution 
Avenue, NW., Attn: CC:PSI:5, Washington, DC 20224. These are not toll 
free numbers.
    E. 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. Requests for 
legal reviews must be received by the Fund no later than October 14, 
2005.

    Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D-1.

    Dated: September 9, 2005.
Jeffrey C. Berg,
Legal Counsel, Community Development Financial Institutions Fund.
[FR Doc. 05-18325 Filed 9-13-05; 8:45 am]
BILLING CODE 4810-70-P