[Federal Register Volume 75, Number 193 (Wednesday, October 6, 2010)]
[Notices]
[Pages 61843-61853]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-25236]
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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 Community Development Financial
Institutions (CDFI) Program FY 2011 Funding Round (the FY 2011 Funding
Round)
Announcement Type: Announcement of funding opportunity.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
DATES: Applications for Financial Assistance (FA) or Technical
Assistance (TA) awards through the FY 2011 Funding Round must be
received by midnight, Eastern Time (ET), November 19, 2010.
Executive Summary: Subject to funding availability, this NOFA is
issued in connection with the FY 2011 Funding Round. The Community
Development Financial Institutions (CDFI) Fund administers the CDFI
Program.
I. Funding Opportunity Description
A. Award Requirements
Through the CDFI Program, the CDFI Fund provides FA awards and TA
grants. FA awards are made to certified CDFIs that meet the
requirements set forth in this NOFA, subject to funding availability.
In FY 2011, the CDFI Fund will also make FA awards under the Healthy
Food Financing Initiative (HFFI) to certified CDFIs that meet the
requirements set forth in this NOFA, subject to funding availability.
TA grants are made to certified CDFIs and entities proposing to become
certified that complete and submit Part III of the CDFI Program funding
application and meet the requirements set forth in this NOFA, subject
to funding availability.
B. Program Regulations
The regulations governing the CDFI Program are found at 12 CFR
Parts 1805 and 1815 (the Regulations) and provide guidance on
evaluation criteria and other requirements of the CDFI Program.
Detailed application content requirements are found in the CDFI Program
application and related materials. Each capitalized term in this NOFA
is more fully defined in this NOFA, the Regulations, or the
application, and the CDFI Fund encourages Applicants to review the
Regulations in addition to this NOFA.
C. The CDFI 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 CDFI Fund reserves the right to reallocate funds from the
amount that is anticipated to be available under this NOFA to other
CDFI Fund programs, particularly if the CDFI Fund determines that the
number of awards made under this NOFA is fewer than projected. In
addition, the CDFI Fund invites applications that propose innovative
Financial Products and Financial Services to address the current
difficult economic conditions of our nation.
II. Award Information
A. Funding Availability
1. FY 2011 Funding Round: Subject to funding availability, the CDFI
Fund expects to award, through this NOFA, approximately $135 million in
appropriated funds in the following ways: (i) $25 million in FA awards
to Category I/SECA Applicants; (ii) $82 million in FA awards to
Category II/Core Applicants; (iii) $25 million in FA awards to HFFI
Applicants; and (vi) $3 million in TA grants to TA Applicants. The CDFI
Fund reserves the right to award more or less than the amounts cited
above in each category in the FY 2011 Funding Round, provided that the
funds are available and the CDFI Fund deems it appropriate.
2. Availability of Funds for the FY 2011 Funding Round: Funds for
the FY 2011 Funding Round have not yet been appropriated. If funds are
not appropriated, there will not be a FY 2011 Funding Round. If funds
are appropriated, the amount of such funds may be greater or less than
the amounts set forth above. If funds for the FY 2011 Funding Round for
the Native American CDFI Assistance (NACA) Program are not
appropriated, entities eligible to apply for CDFI Program funds that
would have applied for NACA Program funding, are encouraged to apply
for CDFI Program funds through this NOFA.
B. Types of Awards
An Applicant may submit an application for either: (i) A FA award
(including a HFFI-FA award) or (ii) TA grant. Applicants applying for
HFFI-FA awards must apply for both a FA award (by submitting Part II of
the application) and an HFFI-FA award by submitting a HFFI
questionnaire which will be sent to only those applicants indicating
they are interested in applying for HFFI funding. The CDFI Fund will
send the HFFI questionnaire to such applicants no later than December
1, 2010. The CDFI Fund reserves the right to award such applicants a FA
award, a HFFI-FA award, both a FA and HFFI-FA award, or no award.
1. FA Awards: FA awards provide flexible financial support to CDFIs
so they may achieve the strategies outlined in their Comprehensive
Business Plans. FA awards can be used in the following five categories:
(i) Financial Products; (ii) Financial Services; (iii) Development
Services; (iv) Loan Loss Reserves and Capital Reserves; and/or (v)
Operations. For purposes of this NOFA, the five categories mean:
Table 1--Five Categories of FA
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(i) Financial Products....... Loans, grants, equity investments, and
similar financing activities, including
the purchase of loans that the Applicant
originates and the provision of loan
guarantees, in the Applicant's Target
Market, or for related purposes that the
CDFI Fund deems appropriate (including
administrative funds used to carry out
Financial Products).
(ii) Financial Services...... Checking and savings accounts, certified
checks, automated teller machines
services, deposit taking, remittances,
safe deposit box services, and other
similar services (including
administrative funds used to carry out
Financial Services).
[[Page 61844]]
(iii) Development Services... Activities that promote community
development and help the Applicant
provide its Financial Products and
Financial Services, including financial
or credit counseling, housing and
homeownership counseling (pre- and post-
), self-employment technical assistance,
entrepreneurship training, and financial
management skill-building (including
administrative funds used to carry out
Development Services).
(iv) Loan Loss Reserves...... Funds set aside in the form of cash
reserves, or through accounting-based
accrual reserves, to cover losses on
loans, accounts, and notes receivable
made in the Target Market, or for
related purposes that the CDFI Fund
deems appropriate (including
administrative funds used to carry out
Loan Loss Reserves).
(v) Capital Reserves......... Funds set aside as reserves to support
the Applicant's ability to leverage
other capital, for such purposes as
increasing its net assets or serving the
financing needs of its Target Market, or
for related purposes that the CDFI Fund
deems appropriate (including
administrative funds used to carry out
Capital Reserves).
(vi) Operations.............. Funds used to carry out the Comprehensive
Business Plan, and/or for related
purposes the CDFI Fund deems
appropriate, that are not used to carry
out or administer any of the foregoing
eligible FA uses.
------------------------------------------------------------------------
The CDFI Fund may provide FA awards in the form of equity
investments (including secondary capital in the case of certain Insured
Credit Unions), grants, loans, deposits, credit union shares, or any
combination thereof. The CDFI Fund reserves the right, in its sole
discretion, to provide a FA award in a form and amount other than that
which the Applicant requests; however, the award amount will not exceed
the Applicant's award request as stated in its application. FA awards
must be used to support the Applicant's activities; FA awards cannot be
used to support the activities of, or otherwise be passed through,
transferred, or co-awarded to, third-party entities, whether
Affiliates, Subsidiaries, or others.
2. Healthy Food Financing Initiative (HFFI):
(a) Overview. The HFFI represents the Federal government's first
coordinated step to eliminate food deserts--urban and rural areas in
the United States with limited access to affordable and nutritious
food, particularly areas composed of predominantly lower-income
neighborhoods and communities--by promoting a wide range of
interventions that expand the supply of and demand for nutritious
foods, including increasing the distribution of agricultural products;
developing and equipping grocery stores and strengthening the producer-
to-consumer relationship. Importantly, the HFFI also seeks to support
the elimination of food deserts in the context of the broader
neighborhood revitalization efforts of a community.
In addition to the CDFI Program, the HFFI includes: (i) The New
Markets Tax Credit (NMTC) Program, also administered by the CDFI Fund;
(ii) the Community and Economic Development (CED) Program, which the
Department of Health and Human Services (HHS) administers; and (iii)
several programs that the Department of Agriculture (USDA) administers
including, among others, the Business and Industry (B&I) Program and
the Intermediary Relending Program (IRP).
Each of the above-listed programs provides a unique mechanism to
support initiatives aimed at increasing access to healthy food. When
these programs are combined, public dollars can act far more
effectively as a market catalyst by providing the full range of
financing to local actors--a key step to addressing the problem of
limited access to affordable and nutritious food. Instead of
approaching this problem through separate agency and program silos, the
HFFI will use a collaborative approach involving the resources of all
three agencies.
Together, USDA, Treasury and HHS have created the Healthy Food
Financing Working Group (Working Group), comprising senior policy
officials and program staff from each agency. USDA chairs the HFFI
Working Group and will coordinate the solicitations, applications,
review and award processes, and public events, as well as mechanisms to
track annual investment performance to clearly demonstrate progress
toward eliminating food deserts in seven years and other stated HFFI
goals. Departments will review applications separately, but incorporate
HFFI-specific criteria into the selection process to ensure agencies
evaluate applications using common standards, such as community need,
quality of strategies, and capacity to execute plans. While each agency
will retain the authority to make final funding decisions for its
programs, participating agencies will consult with each other during
the review process and prior to HFFI awards being made under any given
program. In addition, where appropriate and consistent with existing
statutes, special funding consideration will be given to organizations
intending to use (either directly or through partnerships) multiple
sources of HFFI funding. In this manner, a community can benefit from
tax credits, grants, loans, guarantees, and technical assistance for a
project or suite of projects that collectively address the goals of
this initiative. This working group will also seek to coordinate with
the Administration's Neighborhood Revitalization Working Group (which
includes HUD, ED, HHS, DOJ, and Treasury) in an effort to help amplify
the neighborhood and revitalization connections that can be derived
from HFFI activities. For more information about the Neighborhood
Revitalization Working Group, please visit the following Web site:
http://www.whitehouse.gov/sites/default/files/nri_description.pdf.
The HFFI has specific outcome targets--the most important of which
is measurably reducing the number of food deserts through a concerted,
multi-year, performance-driven effort. In addition HFFI is part of a
larger effort to create quality jobs and promote comprehensive
community development strategies to revitalize distressed neighborhoods
into healthy and vibrant communities of opportunity. As such, HFFI
should be viewed as a resource that communities can use to help
implement a key element of their broader neighborhood revitalization
strategies--namely, access to healthy food. Applicants are encouraged
to consider and pursue linkages not only to other HFFI component
programs but also to other community development programs in areas such
as housing, education, economic development, public safety and access
to health services.
Agencies will stay engaged with HFFI awardees as projects move
forward. The Working Group will develop reporting requirements
specifically for HFFI awardees that will chart the annual
[[Page 61845]]
progress awardees have made toward achieving the goal of eliminating
food deserts in seven years, and other key data points for end outcomes
(such as access, job creation and quality, commodity sales, and
community health) as well as interim ones (such as amount of funding
leveraged and business performance).
(b) HFFI-FA Awards. In FY 2011, subject to appropriations, the CDFI
Fund plans to award up to $25 million of FA awards through the HFFI.
The CDFI Fund expects to make HFFI-FA awards of up to $5 million or
larger to certified CDFIs that submit and complete Parts II and a HFFI
questionnaire, which will be sent to only those applicants indicating
on their FY 2011 FA application that they will be applying for an HFFI
award. The CDFI Fund reserves the right to make awards less than or
greater than $5 million based upon the questionnaires received and the
funds available. The HFFI questionnaire will be sent to those
applicants on or about December 1, 2010. The questionnaire will have a
series of questions and responses will be limited to a specific page
length. The maximum amount per award will depend on Congressional
appropriations, as well as authorization to exceed award caps as
described in Section III. B.1. of this NOFA.
HFFI Applicants will be eligible for a HFFI-FA award for this
initiative or a combination of a FA award and a HFFI-FA award. HFFI
Applicants must receive a minimum score in Part II of the CDFI Program
Application in order to be considered for an HFFI award, and then will
be rated and scored separately based upon the HFFI questionnaire
responses. HFFI Applicants will be rated, among other elements, on the
extent of community need, the quality of their HFFI strategy, and their
capacity to execute their HFFI strategy. The CDFI Fund will collaborate
with the other Federal agencies involved in the HFFI prior to making
final award selections. The CDFI Fund may, at its discretion, perform
additional due diligence on Applicants for this initiative. HFFI-FA
awards must be used to support the Applicant's activities; the awards
cannot be used to support the activities of, or otherwise be passed
through, transferred, or co-awarded to, third-party entities, whether
Affiliates, Subsidiaries, or others. The CDFI Fund reserves the right
to limit the portion of HFFI-FA awards that may be applied to Capital
Reserves or Operations uses.
3. TA Grants:
(a) The CDFI Fund provides TA as a grant and reserves the right, in
its sole discretion, to provide a grant for uses and amounts other than
that which the Applicant requests; however, the grant amount will not
exceed the Applicant's request as stated in its application and the
applicable budget chart.
(b) For purposes of this NOFA, TA eligible uses are: (i) Personnel/
salary; (ii) personnel/fringe; (iii) professional services; (iv)
travel; (v) training; (vi) equipment; (vii) materials/supplies; and
(viii) other. (Please see the CDFI Program Application, Part III for
details of TA uses.) TA awards must be used to support the Applicant's
capacity building activities. TA awards cannot be used to support the
activities of, or otherwise be passed through, transferred, or co-
awarded to, third-party entities, whether Affiliates, Subsidiaries, or
others.
C. Assistance Agreement: Each Awardee under this NOFA must sign an
Assistance Agreement before the CDFI Fund will disburse an award or
grant. The Assistance Agreement contains the terms and conditions of
the award. For further information, see Section VI.A of this NOFA.
III. Eligibility Information
A. Eligible Applicants
The Regulations specify the eligibility requirements each Applicant
must meet in order to be eligible to apply for assistance under this
NOFA. Applicants may apply as either a FA applicant or a TA applicant,
but not both. If an Applicant applies for both, the CDFI Fund reserves
the right to disqualify the Applicant from competing for either a FA or
a TA award or to decide to give the Applicant either a FA award or a TA
grant.
1. FA Applicant Categories: All FA Applicants must meet the
criteria for one of the following two categories listed in Table 2.
(Any Applicant requesting FA funding in excess of the allowable amount
for Category I will be classified as a Category II Applicant,
regardless of its total assets, years in operation, or prior CDFI Fund
awards.)
Table 2--FA Applicant Criteria
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FA applicant category Applicant criteria Applicant may apply for:
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Category I/Small and/or Emerging CDFI (1) Is a Certified/Certifiable CDFI; Up to and including $600,000 in FA funds.
Assistance (SECA).
(2) As of the end of the Applicant's most recent fiscal
year end or September 30, 2010, has total assets as
follows:
Insured Depository Institutions and Depository
Institution Holding Companies: up to $250 million
Insured Credit Unions: up to $10 million;
Venture capital funds: up to $10 million;
Other CDFIs: up to $5 million; OR
(3) Began operations* on or after January 1, 2007.
Category II/Core/HFFI................ A Certified/Certifiable CDFI that meets all other Up to and including $2 million in FA funds; and up to
eligibility requirements described in this NOFA. and $5 million or more in FA funds under the HFFI.
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* The term ``began operations'' is defined as the financing activity start date indicated in the Applicant's myCDFIFund account.
2. TA Applicants: All TA Applicants must meet the following
criteria:
[[Page 61846]]
Table 3--TA Applicant Criteria
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Applicant type Criteria of applicant Applicant can apply for:
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TA.................................. A Certified CDFI, a Certifiable CDFI, Up to $100,000 in TA funds.
or an Emerging CDFI.
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3. CDFI Certification Requirements: For purposes of this NOFA,
eligible FA Applicants include Certified CDFIs and Certifiable CDFIs;
eligible TA Applicants include Certified CDFIs, Certifiable CDFIs, and
Emerging CDFIs, defined as follows:
(a) Certified CDFIs: A Certified CDFI is an entity that has
received official notification from the CDFI Fund that it meets all
CDFI certification requirements as of this NOFA's publication date.
CDFIs that have received official notification from the CDFI Fund that
their certification has expired or been terminated are not eligible to
apply as Certified CDFIs. In cases where the CDFI Fund provided
certified CDFIs with written notification that their certifications had
been extended, the CDFI Fund will consider the extended certification
dates to determine whether those certified CDFIs meet this eligibility
requirement. Certified Applicants must submit a Certification of
Material Events form if they have experienced a material event. A
``material event'' is an occurrence that affects an organization's
strategic direction, mission, or business operation and, thereby, its
status as a Certified CDFI and/or its compliance with the terms and
conditions of an Assistance Agreement. Please see Section IV in this
NOFA for deadlines to submit certification application and material
events forms. The material events form can be found on the CDFI Fund's
Web site at http://www.cdfifund.gov.
(b) Certifiable CDFIs: A Certifiable CDFI is an entity that has
submitted an application to the CDFI Fund demonstrating that it meets
the CDFI certification requirements but the CDFI Fund has not yet
officially certified the entity. If the CDFI Fund is unable to certify
an Applicant and the Applicant is selected for a FA award, the CDFI
Fund may, in its sole discretion, terminate the award commitment. The
CDFI Fund will not enter into an Assistance Agreement or disburse FA
award funds unless and until an Applicant is a Certified CDFI. The CDFI
Certification application can be found on the CDFI Fund's Web site at
http://www.cdfifund.gov.
(c) Emerging CDFIs: An Emerging CDFI is an entity that demonstrates
to the CDFI Fund it has an acceptable plan to become a Certified CDFI
by December 31, 2013, or another date selected by the CDFI Fund.
Emerging CDFIs may only apply for TA grants; they are not eligible to
apply for FA awards. Each Emerging CDFI that is selected to receive a
TA grant will be required, pursuant to its Assistance Agreement with
the CDFI Fund, to become certified as a CDFI by a specified date.
4. Limitation on Awards: An Applicant may receive only one award
through the FY 2011 CDFI Program Funding Round or the FY 2011 NACA
Funding Round. An Applicant may also receive a FY 2011 Bank Enterprise
Award (BEA) Program award for any activities not funded by a CDFI
Program award. A CDFI Program Applicant, its Subsidiaries, or
Affiliates may also apply for and receive a tax credit allocation
(referred to in this NOFA as an Allocatee) through the New Markets Tax
Credit (NMTC) Program, but only to the extent that the activities
approved for CDFI Program awards are different from those activities
for which the Applicant or Allocatee receives a NMTC Program
allocation.
B. Prior Awardees
For purposes of this section, the CDFI Fund will consider an
Affiliate to be any entity that meets the definition of Affiliate in
the Regulations or any entity otherwise identified as an Affiliate by
the Applicant in its funding application and/or its myCDFI Fund
account. Prior awardees should note the following:
1. $5 Million Funding Cap: Congress waived the $5 million funding
cap for the FY 2009 and the FY 2010 Funding Rounds, and it is possible
that the $5 million funding cap may be waived for the FY 2011 Funding
Round. As of the publication date of this NOFA, however, such a waiver
has not been enacted into law. Accordingly, the CDFI Fund is currently
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. In general, the three-year period
calculated for the cap extends back three years from the Effective Date
of the Assistance Agreement between the Awardee and the CDFI Fund. For
purposes of this NOFA, the CDFI Fund will include any assistance in the
cap that was/will be provided to an Applicant between July 31, 2008 and
July 31, 2011, the anticipated date the CDFI Fund expects to issue
Assistance Agreements for the FY 2011 Funding Round. Since Congress may
issue a waiver of the cap, Applicants that are eligible to receive
awards under this NOFA but would exceed the $5 million funding cap if
selected for a FY 2011 award, should submit an application under this
NOFA. The CDFI Fund will assess the $5 million funding cap
applicability during the award selection phase if a Congressional
waiver has not been enacted by that time.
2. Failure to Meet Reporting Requirements: The CDFI Fund will not
consider an Applicant's application if the Applicant, or an Affiliate
of the Applicant, is a prior Awardee/Allocatee under any CDFI Fund
program and is not current on the reporting requirements set forth in a
previously executed assistance, allocation, or award agreement(s), as
of this NOFA's application deadline. The CDFI Fund only acknowledges
receipt of reports that are complete; incomplete reports or reports
that are deficient of required elements will not be considered as
having been received.
3. Pending Resolution of Noncompliance: If the Applicant, or an
Affiliate of the Applicant is a prior Awardee/Allocatee under any CDFI
Fund program and if: (i) The entity has submitted reports to the CDFI
Fund indicating noncompliance with a previously executed agreement with
the CDFI Fund, and (ii) the CDFI Fund has yet to make a final
determination as to whether the entity is in default of its previously
executed agreement, it is in the CDFI Fund's sole discretion to
consider the Applicant's application pending until full resolution of
the noncompliance issue.
4. Default Status: If an Applicant or Affiliate of the Applicant is
a prior Awardee/Allocatee under any CDFI Fund program and is in default
of a previously executed agreement with the CDFI Fund at the time that
the application is due under this NOFA, the application will not be
considered for funding. Such entities will be ineligible to apply for
an award under this NOFA as long as the Applicant or an Affiliate
[[Page 61847]]
of the Applicant's prior award or allocation remains in default status
or such other time period as the CDFI Fund has specified in writing.
5. Termination in Default: The CDFI Fund will not consider an
application submitted by an Applicant, or an Affiliate of the Applicant
that is a prior Awardee/Allocatee under any CDFI Fund program if the
CDFI Fund made a final determination that the Awardee/Allocatee's prior
award was terminated in default: (i) Within the 12-month period prior
to this NOFA's application deadline, and (ii) the final reporting
period end date for the applicable terminated award falls within the
12-month period prior to this NOFA's application deadline.
6. Undisbursed Award Funds: The CDFI Fund will not consider an
Applicant's application if the Applicant or an Affiliate of the
Applicant is a prior Awardee under any CDFI Fund program and has
undisbursed award funds (as defined below) as of this NOFA's
application deadline. The CDFI Fund will include the combined
undisbursed prior awards, as of this NOFA's application deadline, of
the Applicant and affiliated entities, including those in which the
affiliated entity Controls the Applicant, is Controlled by the
Applicant, or shares common management officials with the Applicant as
determined by the CDFI Fund.
For the BEA Program, undisbursed award funds will be included in
the calculation of undisbursed awards for the Applicant (and any
Affiliates) three to five calendar years prior to the end of the
calendar year of this NOFA's application deadline. Thus, for purposes
of this NOFA, undisbursed awards made in FYs 2005, 2006, and 2007 will
be included in the calculation for the Applicant's undisbursed award
amounts if the funds have not been disbursed as of this NOFA's
application deadline.
The CDFI and NACA Programs' undisbursed funds will be calculated by
adding all undisbursed award amounts made to the Applicant (and any
Affiliate(s)) two to five calendar years prior to the end of the
calendar year of this NOFA. Therefore, undisbursed CDFI Program and
NACA awards made in FYs 2005, 2006, 2007, and 2008 will be included in
the undisbursed calculation as of this NOFA's application deadline.
Undisbursed awards can not exceed five percent of the total
includable awards for the Applicant's BEA/CDFI/NACA awards, as of this
NOFA's application deadline. (The total ``includable'' award amount is
the total award amount from the relevant CDFI Fund program.) Please
refer to an example of this calculation on the CDFI Fund's Web site,
found in the Q&A document for the FY 2011 Funding Round.
The ``undisbursed award funds'' calculation does not include: (i)
Tax credit allocation authority made available through the NMTC
Program; (ii) award funds that the Awardee has requested from the CDFI
Fund by submitting a full and complete disbursement request before this
NOFA's application deadline; (iii) award funds for an award that the
CDFI Fund has terminated or de-obligated; or (iv) award funds for an
award that does not have a fully executed assistance or award
agreement. The CDFI Fund encourages Applicants to request their
undisbursed funds from the CDFI Fund at least 10 business days prior to
this NOFA's application deadline.
7. Contact the Fund: Applicants that are prior CDFI Fund Awardees
are advised to: (i) Comply with requirements specified in assistance,
allocation, and/or award agreement(s), and (ii) contact the CDFI Fund
to ensure that all necessary actions are underway for the disbursement
or de-obligation of any outstanding balance of prior award(s) as
referenced above. An Applicant that is unsure about the disbursement
status of any prior award should contact the CDFI Fund by sending an e-
mail to [email protected].
8. Other Targeted Populations as Target Markets: Other Targeted
Populations are defined as identifiable groups of individuals in the
Applicant's service area for which there exists strong evidence that
they lack access to loans, equity investments, and/or Financial
Services. The CDFI Fund has determined there is strong evidence that
the following groups of individuals lack access to such products and
services on a national level or within their recognized ancestral
areas: (i) Native Americans or American Indians, including Alaska
Natives living in Alaska; (ii) Blacks or African Americans; (iii)
Hispanics or Latinos; (iv) Native Hawaiians living in Hawaii; and (v)
other Pacific Islanders living in other Pacific Islands. An Applicant
designating any of the above-cited Other Targeted Populations is not
required to provide additional narrative explaining their lack of
access to loans, equity investments, or Financial Services. To define
these populations for the purposes of this NOFA, the CDFI Fund is using
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.
C. Matching Funds
Congress waived the matching funds requirements for the FY 2009 and
FY 2010 Funding Rounds, and it is possible that the matching funds
requirements may be waived for the FY 2011 Funding Round. As of the
publication date of this NOFA, however, such a waiver has not been
enacted into law. Accordingly, the CDFI Fund encourages Applicants to
include matching funds documentation as instructed in the application.
If a matching funds waiver is enacted, the CDFI Fund will not consider
matching funds documentation. An Applicant that does not include
matching funds documentation in its application runs the risk of being
determined to be ineligible for funding under the FY 2011 Funding Round
if a matching funds waiver is not enacted. In light of a possible
matching funds requirement waiver, an Applicant that would not satisfy
the matching funds requirements but is otherwise eligible under this
NOFA should submit an application. The CDFI Fund will assess
applicability of the matching funds requirements during the award
selection phase if Congress has not enacted a waiver by that time.
Accordingly, subject to the immediately preceding paragraph:
1. FA Applicants must obtain non-Federal matching funds, on the
basis of not less than one dollar for each dollar of FA funds the CDFI
Fund provides. (This requirement pertains to FA Applicants only;
matching funds are not required for TA Applicants). Matching funds must
be comparable in form and value to the CDFI Fund's FA award. For
example, if an Applicant is requesting a
[[Page 61848]]
FA award, the Applicant must show it has obtained matching funds
through commitment(s) from non-Federal sources that are equal to the
amount requested from the CDFI Fund. Applicants cannot use matching
funds from a prior FA award under the NACA or CDFI Program or under
another Federal grant or award program to satisfy the matching funds
requirement of this NOFA. If an Applicant seeks to use matching funds
from an organization that was a prior Awardee under the NACA or CDFI
Program, the CDFI Fund will deem such funds as Federal funds, unless
the funding entity establishes and the CDFI Fund agrees, that such
funds do not consist, in whole or in part, of NACA or CDFI Program
funds or other Federal funds. The CDFI Fund encourages Applicants to
review the Regulations at 12 CFR 1805.500 et seq. and matching funds
guidance materials on the CDFI Fund's Web site for further information.
2. The CDFI Fund will not consider any FA Applicant for an award
that has no matching funds in-hand or firmly committed as of this
NOFA's application deadline. Specifically, FA Applicants must meet the
following matching funds requirements:
(a) Category I/SECA Applicants: A Category I/SECA Applicant must
demonstrate that it has eligible matching funds equal to no less than
25 percent of the FA amount requested in-hand or firmly committed, on
or after January 1, 2009, and on or before the application deadline.
The CDFI Fund reserves the right to rescind all or a portion of a FA
award and re-allocate the rescinded award amount to other qualified
Applicant(s), if an Applicant fails to obtain in-hand 100 percent of
the required matching funds by March 14, 2012 (with required
documentation of such receipt received by the CDFI Fund not later than
March 31, 2012), or to grant an extension of such matching funds
deadline for specific Applicants selected to receive FA awards, if the
CDFI Fund deems it appropriate. For any Applicant that demonstrates it
has less than 100 percent of matching funds in-hand or firmly committed
as of the application deadline, the CDFI Fund will evaluate the
Applicant's ability to raise the remaining matching funds by March 14,
2012.
(b) Category II/Core Applicants: A Category II/Core Applicant must
demonstrate that it has eligible matching funds equal to no less than
100 percent of the amount of the FA award requested in-hand or firmly
committed, on or after January 1, 2009 and on or before the application
deadline. The CDFI Fund reserves the right to rescind all or a portion
of a FA award and re-allocate the rescinded award amount to other
qualified Applicant(s), if an Applicant fails to obtain in-hand 100
percent of the required matching funds by March 14, 2012 (with required
documentation of such receipt received by the CDFI Fund not later than
March 31, 2012), or to grant an extension of such matching funds
deadline for specific Applicants selected to receive FA, if the CDFI
Fund deems it appropriate.
(c) HFFI Applicants: A HFFI Applicant must demonstrate that it has
eligible matching funds equal to no less than 25 percent of the FA
amount requested in-hand or firmly committed, on or after January 1,
2009, and on or before the deadline for the submitting the HFFI
supplemental questionnaire. The CDFI Fund reserves the right to rescind
all or a portion of a FA award and re-allocate the rescinded award
amount to other qualified Applicant(s), if an Applicant fails to obtain
in-hand 100 percent of the required matching funds by March 14, 2012
(with required documentation of such receipt received by the CDFI Fund
not later than March 31, 2012), or to grant an extension of such
matching funds deadline for specific Applicants selected to receive FA
awards, if the CDFI Fund deems it appropriate. For any Applicant that
demonstrates it has less than 100 percent of matching funds in-hand or
firmly committed as of the application deadline, the CDFI Fund will
evaluate the Applicant's ability to raise the remaining matching funds
by March 14, 2012.
3. Matching Funds Terms Defined; Required Documentation:
(a) ``Matching funds in-hand'' means the Applicant has actually
received the matching funds. If the matching funds are in-hand, the
Applicant must provide the CDFI Fund with acceptable written
documentation of the source, form, and amount of the matching funds
(i.e., grant, loan, deposit, and equity investment). Applicants must
provide the CDFI Fund with copies of the following documentation
depending on the type of award: (i) Loans--the loan agreement and
promissory note; (ii) grant--the grant letter or agreement for all
grants of $50,000 or more; (iii) equity investment--the stock
certificate and any related shareholder agreement. Further, if the
matching funds are in-hand, the Applicant must provide the CDFI Fund
with acceptable documentation that shows receipt of the matching funds,
such as a copy of a check or a wire transfer statement.
(b) ``Firmly committed matching funds'' means the Applicant has
entered into or received a legally binding commitment from the matching
funds source showing the matching funds will be disbursed to the
Applicant. If the matching funds are firmly committed, the Applicant
must provide the CDFI Fund with acceptable written documentation
showing the source, form, and amount of the firm commitment (and, in
the case of a loan, the terms thereof), as well as the anticipated date
of disbursement of the committed funds.
4. The CDFI Fund may contact the matching funds source to discuss
the matching funds and the documentation that the Applicant has
provided. If the CDFI Fund determines that any portion of the
Applicant's matching funds is ineligible under this NOFA, the CDFI
Fund, in its sole discretion, may permit the Applicant to offer
alternative matching funds as a substitute for the ineligible matching
funds. In this case: (i) The Applicant must provide acceptable
alternative matching funds documentation within two business days of
the CDFI Fund's request, and (ii) the alternative matching funds
documentation cannot increase the total amount of FA the Applicant
requested.
5. Special Rule for Insured Credit Unions: The Regulations allow an
Insured Credit Union to use retained earnings to serve as matching
funds for a FA award in an amount equal to: (i) The increase in
retained earnings that has occurred over the Applicant's most recent
fiscal year; (ii) the annual average of such increases that has
occurred over the Applicant's three most recent fiscal years; or (iii)
the entire retained earnings that have been accumulated since the
inception of the Applicant, as provided in the Regulations. For
purposes of this NOFA, if option (iii) is used, the Applicant must
increase its member and/or non-member shares or total loans outstanding
by an amount equal to the amount of retained earnings committed as
matching funds. This amount must be raised by the end of the Awardee's
second performance period, as set forth in its Assistance Agreement,
and will be based on amounts reported in the Applicant's Audited or
Reviewed Financial Statements or NCUA Form 5300 Call Report. The CDFI
Fund will assess the likelihood of this increase during the application
review process. An award will not be made to any Applicant that has not
demonstrated in the relevant NCUA call report that it has increased
shares or loans by at least 25 percent of the requested FA award amount
between December 31, 2009, and December 31, 2010.
[[Page 61849]]
IV. Application And Submission Information
A. Application Submission
Under this NOFA, all Applicants must submit their applications
electronically through Grants.gov. The CDFI Fund will not accept
applications through myCDFIFund accounts nor will applications be
accepted via e-mail, mail, facsimile, or other forms of communication,
except in circumstances approved by the CDFI Fund beforehand.
B. Grants.gov
In compliance with Public Law 106-107 and Section 5(a) of the
Federal Financial Assistance Management Improvement Act, the CDFI Fund
is required to accept applications submitted through the Grants.gov
electronic system. The CDFI Fund strongly recommends Applicants start
the registration process as soon as possible and visit http://www.grants.gov immediately. Applicants that have used Grants.gov in the
past must verify that their registration is current and active. New
applicants must properly register, which can take weeks to complete.
Pursuant to OMB guidance (68 FR 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). An
electronic application that does not include either a DUNS or an EIN is
incomplete and runs the risk of not being transmitted to the CDFI Fund
from Grants.gov. As a result, Applicants without a DUNS or EIN should
allow sufficient time for the IRS and/or Dun and Bradstreet to respond
to inquiries and/or requests for identification numbers.
The CDFI Fund will not consider Applicants that fail to properly
register in Grants.gov or to confirm they are properly registered. The
CDFI Fund will not accept applications from Applicants that are not
properly registered in Grants.gov and therefore, unable to submit their
application before the deadline. Also, Applicants are reminded that the
CDFI Fund does not maintain the Grants.gov registration or submittal
process so Applicants must contact Grants.gov directly for issues
related to that aspect of the application submission process. Please
see the following link for information on getting started on
Grants.gov: http://grants.gov/assets/GrantsgovCoBrandBrochure8X11.pdf.
C. MyCDFIFund Accounts
MyCDFIFund is the CDFI Fund's primary means of communication with
Applicants so it must be kept updated. All Applicants must register as
an organization and as a user with myCDFIFund before the application
deadline. Applicants that fail to properly register and update their
myCDFIFund accounts run the risk of missing important communication
with the CDFI Fund that could impact their application. For more
information on myCDFIFund, please see the ``Frequently Asked
Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp.
D. Application Content Requirements
The application and related documents can be found on the
Grants.gov and the CDFI Fund's Web sites. The CDFI Fund anticipates
posting the application and related documents to the CDFI Fund's Web
site on the same day that the NOFA is released or shortly thereafter.
Once an application is submitted, the Applicant will not be allowed to
change any element of the application. The CDFI Fund, however, may
contact the Applicant to clarify or confirm application information.
E. Paperwork Reduction Act
Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an agency
may not conduct or sponsor a collection of information, and an
individual is not required to respond to a collection of information,
unless it displays a valid OMB control number. Pursuant to the
Paperwork Reduction Act, the CDFI Program funding application has been
assigned the following control number: 1559-0021.
F. Application Deadlines
1. Please see Table 4 for critical deadlines that are relevant to
the FY 2011 Funding Round:
Table 4--CDFI Program Application Critical Dates
------------------------------------------------------------------------
Description Date due Time
------------------------------------------------------------------------
Last day to contact October 20, 5:00 p.m.
Certification staff for 2010.
assistance.
Certification application... October 22, 5:00 p.m.
2010.
Certification Material October 22, 5:00 p.m.
Events Form. 2010.
Last day to contact CDFI November 17, 5:00 p.m.
Program staff for 2010.
assistance.
Last day to contact CDFI November 17, 5:00 p.m.
Compliance staff for 2010.
assistance.
FA Application (Part II of November 19, midnight.
the application). 2010.
TA Application (Part III of November 19, midnight.
the application). 2010.
Healthy Food Financing To Be To Be Determined.
Initiative Questionnaire. Determined.
------------------------------------------------------------------------
2. Late Delivery: The CDFI Fund will neither accept a late
application nor any portion of an application that is late; an
application that is late, or for which any portion is late, will be
rejected. The CDFI Fund will not grant exceptions or waivers. Any
application that is deemed ineligible or rejected will not be returned
to the Applicant.
G. Intergovernmental Review
Not applicable.
H. Funding Restrictions
For allowable uses of FA proceeds, please see the Regulations at 12
CFR 1805.301.
V. Application Review Information
A. Format
Applicants must complete the application as provided in Grants.gov
and the CDFI Fund's Web sites. All applications must be single-spaced
and use no smaller than an 11-point font. Each component in the
application has page limitations. The CDFI Fund will read only
information requested in the application and will not read attachments
that have not been specifically requested in this NOFA or the
application. Applicants should not submit documents like strategic
plans or market studies unless the CDFI Fund has specifically requested
such documents in the application.
B. Review and Selection Process
1. Eligibility and Completeness Review: The CDFI Fund will review
each application to determine whether it is complete and the Applicant
meets
[[Page 61850]]
the eligibility requirements described in Section III of this NOFA. An
incomplete application or one that does not meet eligibility
requirements will be rejected at this point.
2. Substantive Review: If the Applicant has submitted a complete
and eligible application, the CDFI Fund will conduct a substantive
review in accordance with the criteria and procedures described in the
Regulations, this NOFA, and the application. The CDFI Fund reserves the
right to contact the Applicant by telephone, e-mail, mail, or through
an on-site visit for the sole purpose of clarifying or confirming
application information. If contacted, the Applicant must respond
within the CDFI Fund's time parameters or run the risk of being
rejected.
3. Application Scoring and Award Selection (FA and TA Applicants):
(a) Application Scoring: The CDFI Fund will evaluate each
application on the four criteria categories and the scoring scale
described in the CDFI Program application. An Applicant must receive a
minimum score in each evaluation criteria in order to be considered for
an award. The CDFI Fund will score each part as indicated in the
following table:
Table 5--Application Scoring Criteria
------------------------------------------------------------------------
Scoring
Application parts points
------------------------------------------------------------------------
Part II. Financial Assistance (FA) Applicants
------------------------------------------------------------------------
High Impact Narrative........................................ 10
Target Market Needs.......................................... **10
Responsiveness to Target Market Needs........................ 40
Delivery Capacity............................................ 40
----------
TOTAL POINTS............................................. 100
------------------------------------------------------------------------
Part III. Technical Assistance (TA) Applicants
------------------------------------------------------------------------
Technical Assistance Proposal................................ 20
Target Market Needs.......................................... **10
Responsiveness to Target Market Needs........................ 30
Delivery Capacity............................................ 40
----------
TOTAL POINTS............................................. 100
------------------------------------------------------------------------
**Includes up to 5 priority points based on distress criteria.
(b) In the FY 2011 Funding Round, the CDFI Fund will allow
Applicants to earn up to 5 extra priority points for serving eligible
highly distressed Target Markets. Such markets are identified by a
distress index based on county-level rankings of high poverty, home
foreclosure rates, a high proportion of high cost mortgages (as defined
in the Home Ownership and Equity Protection Act [HOEPA] of 1994), high
unemployment rates and low median family income. Applicants can
identify distressed markets by using the index, which identifies the
most distressed counties with the highest rank number. The index is
posted to the CDFI Fund's Web site at http://www.cdfifund.gov/distressindex.
(c) Evaluating Prior Award Performance: Prior Awardees/Allocatees
of any CDFI Fund program will be deducted points if the Applicant: (i)
Is noncompliant with any active award or award that terminated in the
current calendar year by failing to meet performance goals and
measures, reporting deadlines, and other requirements set forth in the
CDFI Fund's assistance or award agreement(s) during the Applicant's two
complete fiscal years prior to this NOFA's application deadline; (ii)
failed to make timely loan payments to the CDFI Fund during the
Applicant's two complete fiscal years prior to this NOFA's application
deadline (if applicable); and (iii) did not perform on any prior
assistance agreement, which is determined during the application review
process. In addition, the CDFI Fund will deduct points if a FA
Applicant had funds de-obligated for or from an FA award issued in FY
2008, 2009 or 2010 if: (i) The amount of de-obligated funds is at least
$200,000 and (ii) the de-obligation occurred within the 12 months prior
to this NOFA's application deadline. Point deductions for a de-
obligation in this funding round will not be counted against future FA
applications. The CDFI Fund has the sole discretion to deduct points
from prior Awardees/Allocates if those Applicants have proceedings
instituted against them in, by, or before any court, governmental,
agency, or administrative body and has received a final determination
within the last three years indicating the Applicant has discriminated
on the basis of race, color, national origin, disability, age, marital
status, receipt of income from public assistance, religion, or sex.
(d) Award Selection: The CDFI Fund will make its final award
selections based on the Applicants' scores, ranked from highest to
lowest, and the amount of funds available. In the case of tied scores,
Applicants will be ranked according to each Applicant's Community
Development Performance and Effective Use scores. TA Applicants,
Category I, Category II, and HFFI Applicants will be grouped and ranked
separately. In addition, the CDFI Fund may consider the institutional
and geographic diversity of Applicants when making its funding
decisions.
4. Application Scoring and Award Selection (HFFI-FA Applicants).
Only FA Applicants that complete and submit the HFFI questionnaire and
that meet minimum established scoring thresholds under Part II of the
application may be considered for a HFFI-FA award. Such Applicants will
be separately scored based on the HFFI questionnaire. HFFI Applicants
will be rated, among other elements, on the extent of community need,
the quality of their HFFI strategy, and their capacity to execute their
HFFI strategy. To the extent possible, based primarily on the number of
applications received, HFFI questionnaires will be evaluated and scored
by multiple reviewers. With respect to each HFFI questionnaire
reviewed, the reviewer will give equal weight to all elements of the
application questionnaire (i.e., each plan will be reviewed
holistically--no one element will be weighted more heavily than any
other element). HFFI-FA awards will generally be made in descending
order of the total aggregate scores of the HFFI questionnaires until
the HFFI appropriated dollars are expended. In the case of a tied HFFI
ranking score, Applicants will be ranked according to their total
aggregate score under Part II of the application. The CDFI Fund
reserves the right not to fund an HFFI application if the CDFI Fund has
concerns (e.g., based on the review and scoring of Part II of the
application) about the Applicant's capacity to implement its HFFI
strategy. In addition, the CDFI Fund will consult with other Federal
agencies participating in the HFFI prior to making its HFFI-FA awards.
Finally, the CDFI Fund may consider the institutional and geographic
diversity of Applicants when making its funding decisions.
5. Insured CDFIs: In the case of Insured Depository Institutions
and Insured Credit Unions, the CDFI Fund will consider the views of the
Appropriate Federal Banking Agencies. Throughout the award review
process, the CDFI Fund will consult with the Appropriate Federal
Banking Agency about the Applicant's financial safety and soundness. If
the Appropriate Federal Banking Agency identifies safety and soundness
concerns, the CDFI Fund will assess whether the concerns cause or will
cause the Applicant to be incapable of undertaking the activities for
which funding has been requested. If it is determined the Applicant is
incapable of meeting its obligations, the CDFI Fund reserves the right
to deselect the
[[Page 61851]]
Applicant from receiving an award. The CDFI Fund also reserves the
right to require insured CDFI Applicants to improve safety and
soundness conditions prior to receiving an award disbursement. In
addition, the CDFI Fund will take into consideration Community
Reinvestment Act assessments of Insured Depository Institutions and/or
their Affiliates.
6. Award Notification: Each Applicant will be informed of the CDFI
Fund's award decision through a notification in the Applicant's
myCDFIFund account. This includes notification to Applicants that have
not been selected for an award if the decision is based on reasons
other than completeness or eligibility. Applicants that have not been
selected for an award will receive a debriefing in their myCDFIFund
account. The CDFI Fund will provide this feedback in a format and
within a timeframe depending on available resources.
7. The CDFI Fund reserves the right to reject an application if
information (including administrative errors) comes to the CDFI Fund's
attention that either adversely affects an Applicant's eligibility for
an award, adversely affects the CDFI Fund's evaluation or scoring of an
application, or indicates fraud or mismanagement on the Applicant's
part. If the CDFI Fund determines any portion of the application is
incorrect in a material respect, the CDFI Fund reserves the right, in
its sole discretion, to reject the application. The CDFI Fund reserves
the right to change its eligibility and evaluation criteria and
procedures, if the CDFI Fund deems it appropriate. If the changes
materially affect the CDFI Fund's award decisions the CDFI Fund will
provide information about the changes through the CDFI Fund's Web site.
The CDFI Fund's award decisions are final and there is no right to
appeal the decisions.
VI. Award Administration Information
Assistance Agreement: Each Applicant selected to receive an award
under this NOFA must enter into an Assistance Agreement with the CDFI
Fund in order to receive the award's disbursement. The Assistance
Agreement will set forth the award's terms and conditions, including
but not be limited to the award's: (i) Amount; (ii) type; (iii) uses;
(iv) eligible market to which the funded activity must be targeted; (v)
performance goals and measures; and (vi) reporting requirements.
Applicants should review the OMB Guidance: Requirements for Federal
Funding Accountability and Transparency Act Implementation (75 FR
55663) to ensure that they have processes and systems in place to
comply with the reporting obligations. FA Assistance Agreements under
this NOFA will usually have three-year performance periods; TA
Assistance Agreements will usually have two-year performance periods.
If prior to entering into an Assistance Agreement with the CDFI Fund,
information (including administrative error) comes to the CDFI Fund's
attention that either adversely affects the Awardee's eligibility for
an award, or adversely affects the CDFI Fund's evaluation of the
Awardee's application, or indicates fraud or mismanagement on the
Awardee's part, the CDFI Fund may, in its discretion and without
advance notice to the Awardee, terminate the award or take such other
actions as it deems appropriate. Moreover, if prior to entering into an
Assistance Agreement, the CDFI Fund determines that the Awardee or an
Affiliate of the Awardee is in default of any previously executed
agreement with the CDFI Fund, the CDFI Fund may, in its discretion and
without advance notice to the Awardee, either terminate the award or
take such other actions as it deems appropriate. For purposes of this
section, the CDFI Fund will consider an Affiliate to mean any entity
that meets the definition of Affiliate in the Regulations. The CDFI
Fund reserves the right, in its sole discretion, to rescind an award if
the Awardee fails to return the Assistance Agreement, signed by the
authorized representative of the Awardee, and/or provide the CDFI Fund
with any other requested documentation, within the CDFI Fund's
deadlines. Each Awardee must provide the CDFI Fund with a good standing
certificate (or equivalent documentation) from its state (or
jurisdiction) of incorporation.
1. Failure to Meet Reporting Requirements: If an Awardee or an
Affiliate of the Awardee is a prior Awardee/Allocatee under any CDFI
Fund program and is not current with the reporting requirements set
forth in the previously executed agreement(s) with the CDFI Fund, the
CDFI Fund reserves the right, in its sole discretion, to delay entering
into an Assistance Agreement until the Awardee/Allocatee is current
with the reporting requirements. Please note that the CDFI 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/
Allocatee is unable to meet this requirement within the timeframe the
CDFI Fund sets, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Assistance Agreement and the
award made under this NOFA.
2. Pending Resolution of Noncompliance: If an Applicant is a prior
Awardee or an Affiliate of the Awardee/Allocatee under any CDFI Fund
program and if: (i) It has submitted reports to the CDFI Fund that
demonstrate noncompliance with a previous executed agreement with the
CDFI Fund; and (ii) the CDFI Fund has yet to make a final determination
as to whether the entity is in default of its agreement, the CDFI Fund
reserves the right, in its sole discretion, to delay entering into an
Assistance Agreement, pending full resolution of the noncompliance
issue to the CDFI Fund's satisfaction. If the said prior Awardee/
Allocatee is unable to satisfactorily resolve the compliance issues,
the CDFI Fund reserves the right, in its sole discretion, to terminate
and rescind the Assistance Agreement and the award made under this
NOFA.
3. Default Status: If, at any time prior to entering into an
Assistance Agreement through this NOFA, the CDFI Fund has made a final
determination that an Awardee or an Affiliate of the Awardee that is a
prior Awardee/Allocatee under any CDFI Fund program is in default of a
previously executed assistance, allocation, or award agreement(s), the
CDFI Fund reserves the right, in its sole discretion, to delay entering
into an Assistance Agreement, until said prior Awardee/Allocatee has
submitted a complete and timely report demonstrating full compliance
within the CDFI Fund's timeframe. If said prior Awardee/Allocatee is
unable to meet this requirement and the CDFI Fund has not specified in
writing that the prior Awardee/Allocatee is otherwise eligible to
receive an Award under this NOFA, the CDFI Fund reserves the right, in
its sole discretion, to terminate and rescind the Assistance Agreement
and the award made under this NOFA.
4. Termination in Default: The CDFI Fund reserves the right, in its
sole discretion, to delay entering into or not to enter into an
Assistance Agreement if: (i) Within the 12-month period prior to
entering into an Assistance Agreement for this funding round, the CDFI
Fund has made a final determination that a prior Awardee or an
Affiliate of the Awardee under any CDFI Fund program whose award or
allocation agreement was terminated in default, and (ii) the final
reporting period end date for the applicable terminated agreement falls
within the 12-month period prior to this NOFA's application deadline.
5. Compliance with Federal Anti-Discrimination Laws: If the Awardee
has
[[Page 61852]]
previously received funding through any CDFI Fund program, and if at
any time prior to entering into an Assistance Agreement through this
NOFA, the CDFI Fund is made aware of a final determination, made within
the last three years, in any proceeding instituted against the Awardee
in, by, or before any court, governmental, or administrative body or
agency, declaring that the Awardee has discriminated on the basis of
race, color, national origin, disability, age, marital status, receipt
of income from public assistance, religion, or sex, the CDFI Fund
reserves the right, in its sole discretion, to terminate and rescind
the Assistance Agreement and the award made under this NOFA.
B. Reporting
1. Reporting requirements: At least on an annual basis, the CDFI
Fund will collect information from each Awardee including, but not
limited to, an Annual Report with the following components: (i)
Financial Reports (including an OMB A-133 audit); (ii) Institution
Level Report; (iii) Transaction Level Report (for Awardees receiving FA
awards); (iv) Financial Status Report form SF-269/SF-425 (for Awardees
receiving TA grants); (v) Uses of Financial Assistance (for Awardees
receiving FA awards); (vi) Explanation of Noncompliance (as
applicable); and (vii) such other information as the CDFI 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 CDFI Fund
may require, the Awardee is responsible for ensuring that the
information submitted is timely and complete. The CDFI Fund reserves
the right to contact such additional entities or signatories to the
Assistance Agreement and require that additional information and
documentation be provided. The CDFI Fund will use such information to
monitor each Awardee's compliance with the requirements in the
Assistance Agreement and to assess the impact of the CDFI Program. All
reports must be electronically submitted to the CDFI Fund via the
Awardee's myCDFIFund account. The Institution Level Report and the
Transaction Level Report must be submitted through the CDFI Fund's web-
based data collection system, the Community Investment Impact System
(CIIS). The Financial Reports may be uploaded to the Awardee's
myCDFIFund account. All other components of the Annual Report may be
submitted electronically, as the CDFI Fund directs. The CDFI 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 CDFI Fund will require each FA and TA Awardee to
account for and track the use of its award. This means that FA and TA
Awardees must track every dollar and must inform the CDFI Fund of its
uses. This will require Awardees to establish separate administrative
and accounting controls, subject to the applicable OMB Circulars. The
CDFI Fund will provide guidance on the format and content of the annual
information to be provided, outlining and describing how the funds were
used. All Awardees must provide the CDFI Fund with an accurate and
completed Automated Clearinghouse (ACH) form prior to award closing and
disbursement.
VII. Agency Contacts
A. The CDFI 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 on the date that the NOFA is published
through three business days prior to the application deadline. During
the three business days prior to the application deadline, the CDFI
Fund will not respond to questions or provide support to Applicants
until after the application deadline. Applications and other
information regarding the CDFI Fund and its programs may be obtained
from the CDFI Fund's Web site at http://www.cdfifund.gov. The CDFI Fund
will post on its Web site responses to questions of general
applicability regarding the CDFI Program.
B. Applicants may contact the CDFI Fund as follows:
Table 6--Contact Information
[Fax number for all offices: 202-622-7754]
------------------------------------------------------------------------
Telephone number
Type of question (not toll free) E-mail addresses
------------------------------------------------------------------------
CDFI Program.................... 202-622-6355...... [email protected].
CDFI Certification.............. 202-622-6355...... [email protected].
Compliance Monitoring and 202-622-6330...... [email protected]
Evaluation. v.
Information Technology Support.. 202-622-2455...... [email protected].
------------------------------------------------------------------------
C. Information Technology Support
People who have visual or mobility impairments that prevent them
from creating a Target Market map using the CDFI Fund's Web site should
call (202) 622-2455 for assistance (this is not a toll free number).
D. Communication With the CDFI Fund
The CDFI Fund will use the Applicants' and Awardees' contact
information in their myCDFIFund accounts to communicate. It is
imperative, therefore, that Applicants, Awardees, Subsidiaries,
Affiliates, and signatories maintain accurate contact information in
their accounts.
This includes information like contact names, especially for the
authorized representative; e-mail addresses; fax and phone numbers; and
office locations. For more information about myCDFIFund, as well as
information on the Community Investment Impact System, please see the
following Web site: http://www.cdfifund.gov/ciis/accessingciis.pdf.
VIII. Information Sessions and Outreach
The CDFI Fund may conduct webinars or host information sessions for
organizations that are considering applying to, or are interested in
learning about, the CDFI Fund's programs. For further information,
please visit the CDFI Fund's Web site at http://www.cdfifund.gov.
Authority: 12 U.S.C. 4701, et seq; 12 CFR parts 1805 and 1815.
[[Page 61853]]
Dated: October 1, 2010.
Donna J. Gambrell,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2010-25236 Filed 10-5-10; 8:45 am]
BILLING CODE 4810-70-P