[Federal Register Volume 79, Number 188 (Monday, September 29, 2014)]
[Notices]
[Pages 58404-58416]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-23060]


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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Funding Opportunity Title: Notice of Funds Availability (NOFA) 
Inviting Applications for Financial Assistance (FA) Awards or Technical 
Assistance (TA) Grants Under the Community Development Financial 
Institutions Program (CDFI Program) FY 2015 Funding Round

    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2015-FATA
    Catalog Of Federal Domestic Assistance (CFDA) Number: 21.020

 KEY DATES:


                  Table 1--FY 2015 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
                                                                 Time (Eastern daylight
             Description                       Deadline                time-EDT)            Submission method
----------------------------------------------------------------------------------------------------------------
CDFI Certification Applications......  October 24, 2014.......  5:00 p.m. EDT..........  MyCDFI Fund.
Last day to contact CDFI Program       November 20, 2014......  5:00 p.m. EDT..........  CDFI Fund Helpdesk: 202-
 staff.                                                                                   653-0421 or
                                                                                          [email protected].
CDFI Program Application for           November 24, 2014......  11:59 p.m. EDT.........  Electronically via
 Financial Assistance (FA) or                                                             Grants.gov.
 Technical Assistance (TA).
----------------------------------------------------------------------------------------------------------------

    Executive Summary: Through the CDFI Program, the CDFI Fund provides 
(i) FA awards of up to $2 million to Certified Community Development 
Financial Institutions (CDFIs) to build their financial capacity to 
lend to their Target Markets, and (ii) TA grants of up to $125,000 to 
build Certified, Certifiable, and Emerging CDFIs' organizational 
capacity to serve their Target Markets. All awards provided through 
this NOFA are subject to funding availability.

I. Program Description

    A. History: The CDFI Fund was established by the Riegle Community 
Development Banking and Financial Institutions Act of 1994 to promote 
economic revitalization and community development through investment in 
and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has 
awarded over $1.9 billion to CDFIs, community development 
organizations, and financial institutions through the Community 
Development Financial Institutions Program (CDFI Program), the Native 
American CDFI Assistance Program (NACA Program), the Bank Enterprise 
Award Program (BEA Program), the Capital Magnet Fund, and the Financial 
Education and Counseling Pilot Program. In addition, the CDFI Fund has 
allocated $40 billion in tax credit allocation authority through the 
New Markets Tax Credit Program (NMTC Program) and has obligated $325 
million in bond guarantees to Eligible CDFIs through the CDFI Bond 
Guarantee Program.
    B. Priorities: Through the CDFI Program's FA awards and TA grants, 
the CDFI Fund invests in and builds the capacity of for-profit and non-
profit community based lending organizations known as Community 
Development Financial Institutions, or CDFIs. These organizations, 
Certified as CDFIs by the CDFI Fund, serve rural and urban low-income 
people and communities across the nation that lack adequate access to 
affordable financial products and services.
    C. Authorizing Statutes and Regulations: The CDFI Program is 
authorized by the Riegle Community Development Banking and Financial 
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.). The 
regulations governing the CDFI Program are found at 12 CFR Parts 1805 
and 1815 (the Regulations) and set forth evaluation criteria and other 
program requirements. The CDFI Fund encourages Applicants to review the 
Regulations, this NOFA, the Application, and the Uniform Administrative 
Requirements, Cost Principles, and Audit Requirements for Federal 
Awards (2 CFR Part 200; 78 FR 78590) (Uniform Federal Award 
Requirements) for a complete understanding of the program; capitalized 
terms in this NOFA are defined in the authorizing statute, the 
Regulations, this NOFA, the Application, and the Uniform Federal Award 
Requirements. Details regarding Application content requirements are 
found in the Application and related materials.
    D. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR Part 200): In December 2013, the 
Office of Management and Budget (OMB) published a final rule that 
provides a government-wide framework for grants management, with the 
goal of combining several OMB guidance circulars, reducing 
administrative burden for Recipients, and reducing the risk of waste, 
fraud and abuse of Federal financial assistance. The Uniform Federal 
Award Requirements codifies financial, administrative, procurement, and 
program management standards that Federal award agencies must

[[Page 58405]]

follow. When evaluating award applications, awarding agencies must 
evaluate the risks to the program posed by each applicant, and each 
applicant's merits and eligibility. These requirements are designed to 
ensure that applicants for Federal assistance receive a fair and 
consistent review prior to an award decision. This review will assess 
items such as the Applicant's financial stability, quality of 
management systems, history of performance, and single audit findings. 
In addition, the Uniform Federal Award Requirements includes guidance 
on audit requirements and other award requirements that award 
Recipients must comply with.
    E. Funding limitations: 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 also reserves the right to 
reallocate funds from the amount that is anticipated to be available 
through this NOFA to other CDFI Fund programs, particularly if the CDFI 
Fund determines that the number of awards made through this NOFA is 
fewer than projected.

II. Federal Award Information

    A. Funding Availability:
    1. FY 2015 Funding Round: Subject to funding availability, the CDFI 
Fund expects to award, through this NOFA, approximately $186 million as 
indicated in the following table:

                           Table 2--FY 2015 Funding Round Anticipated Category Amounts
----------------------------------------------------------------------------------------------------------------
                                     Estimated             Award amount
    Funding categories  (See       total amount  --------------------------------    Estimated    Average amount
     definition in Table 7)        to be awarded                                     number of     awarded in FY
                                    (millions)        Minimum         Maximum         awards           2013
----------------------------------------------------------------------------------------------------------------
FA: Category I/Small and/or                  $19        $100,000        $700,000              40        $400,000
 Emerging CDFI Assistance (SECA)
FA: Category II/Core............             128         100,000       2,000,000             110       1,250,000
TA..............................               4          10,000         125,000              40          67,500
Healthy Food Financing                        35         500,000       5,000,000              13       2,750,000
 Initiative--Financial
 Assistance (HFFI-FA) *.........
                                 -------------------------------------------------------------------------------
    Total.......................             186  ..............  ..............             203
----------------------------------------------------------------------------------------------------------------
* HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

    The CDFI Fund reserves the right to award more or less than the 
amounts cited above in each category, based upon available funding and 
other factors, as appropriate.
    2. Funding Availability for the FY 2015 Funding Round: Funds for 
the FY 2015 Funding Round have not yet been appropriated; if Congress 
does not appropriate funds for the CDFI Program, there will not be a FY 
2015 Funding Round. If funds are appropriated, the amount of such funds 
may be greater or less than the amounts set forth above. In the event 
that funds are not appropriated for the NACA Program, CDFIs that 
qualify for NACA Program awards are encouraged to apply for CDFI 
Program awards through this NOFA. The CDFI Fund reserves the right to 
contact applicants to seek additional information in the event that the 
final FY 2015 appropriations for the CDFI Program change any of the 
requirements in this NOFA.
    3. Anticipated Start Date and Period of Performance: The CDFI Fund 
anticipates the period of performance for the FY 2015 Funding Round 
will begin in the fall of calendar year 2015. Specifically, the period 
of performance for TA grants begins with the date of the notice of the 
award and includes an award Recipient's two full consecutive fiscal 
years after the date of the notice of the award, during which the 
Recipient must meet the performance goals set forth in the Assistance 
Agreement. The period of performance for FA awards includes an award 
Recipient's three full consecutive fiscal years after the date of the 
notice of the award, during which time the Recipient must meet its 
performance goals.
    B. Types of Awards: Through the CDFI Program, the CDFI Fund 
provides two types of awards: Financial Assistance (FA) and Technical 
Assistance (TA) awards. An Applicant may submit an Application for a TA 
grant or an FA award, but not both.
    1. FA Awards: FA awards can be in the form of loans, grants, Equity 
Investments, and deposits and credit union shares. The form of the FA 
award is based on the form of the matching funds that the Applicant 
includes in its Application, unless Congress waives the matching funds 
requirement. Matching funds are required for FA awards, must be from 
non-Federal sources, and cannot have been used as matching funds for 
any other Federal award. The CDFI Fund reserves the right, in its sole 
discretion, to provide an FA award in an 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.
    2. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to FA 
awards; therefore, only those Applicants that have been selected to 
receive an FA award through the CDFI Program FY 2015 Funding Round will 
be eligible to receive an HFFI-FA award. HFFI-FA awards can be in the 
form of loans, grants, Equity Investments, and deposits and credit 
union shares. The form of the HFFI-FA award is based on the form of the 
matching funds that the Applicant includes in its Application, unless 
Congress waives the matching funds requirement. Matching funds are 
required for HFFI-FA awards, must be from non-Federal sources, and 
cannot have been used as matching funds for any other Federal award. 
The CDFI Fund reserves the right, in its sole discretion, to provide an 
HFFI-FA award in an 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.
    3. TA Grants: TA is provided in the form of grants. The CDFI Fund 
reserves the right, in its sole discretion, to provide a TA grant in an 
amount other than which the Applicant requests; however, the TA grant 
amount will not exceed the Applicant's request as stated in its 
Application and the applicable budget chart.
    C. Eligible Activities:
    1. FA Awards:
    FA and HFFI-FA award funds can be expended for activities in the 
following five categories: (i) Financial Products; (ii) Financial 
Services; (iii) Loan Loss Reserves; (iv) Development Services;

[[Page 58406]]

and (v) Capital Reserves. Each of the allowable activity categories 
will be eligible for indirect costs and an associated indirect cost 
rate. Indirect cost rates will be determined as part of the terms and 
conditions of the award. For purposes of this NOFA, the five activity 
categories are defined as follows:

          Table 3--FA and HFFI-FA Eligible Activity Categories
------------------------------------------------------------------------
                                      FA Activity        Eligible CDFI
           FA Activity                definition       Institution types
------------------------------------------------------------------------
i. Financial Products...........  FA expended as      All.
                                   loans, Equity
                                   Investments and
                                   similar financing
                                   activities (as
                                   determined by the
                                   CDFI Fund)
                                   including the
                                   purchase of loans
                                   originated by
                                   Certified CDFIs
                                   and the provision
                                   of loan
                                   guarantees; in
                                   the case of CDFI
                                   Intermediaries,
                                   grants to CDFIs
                                   and/or emerging
                                   CDFIs and
                                   deposits in
                                   Insured Credit
                                   Union CDFIs,
                                   emerging Insured
                                   Credit Union
                                   CDFIs, and/or
                                   State-Insured
                                   Credit Union
                                   CDFIs.
ii. Financial Services..........  FA expended for     Insured Depository
                                   the provision of    Institutions
                                   checking and        only.
                                   savings accounts,
                                   certified checks,
                                   automated teller
                                   machines
                                   services, deposit
                                   taking,
                                   remittances, safe
                                   deposit box
                                   services, and
                                   other similar
                                   services.
iii. Loan Loss Reserves.........  FA set aside in     All.
                                   the form of cash
                                   reserves, or
                                   through
                                   accounting-based
                                   accrual reserves,
                                   to cover losses
                                   on loans,
                                   accounts, and
                                   notes receivable
                                   made in the
                                   Applicant's
                                   Target Market, or
                                   for related
                                   purposes that the
                                   CDFI Fund deems
                                   appropriate.
iv. Development Services........  FA expended for     All.
                                   activities that
                                   promote community
                                   development and
                                   are integral to
                                   the Applicant's
                                   provision of
                                   Financial
                                   Products and
                                   Financial
                                   Services. Such
                                   services that
                                   shall prepare or
                                   assist current or
                                   potential
                                   borrowers or
                                   investees to
                                   utilize the
                                   Financial
                                   Products or
                                   Financial
                                   Services of the
                                   Applicant.
v. Capital Reserves.............  FA set aside as     Insured Depository
                                   reserves to         Institutions
                                   support the         only.
                                   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
                                   as the CDFI Fund
                                   deems appropriate.
------------------------------------------------------------------------

    2. TA Grants:
    TA grant funds can be expended for the following seven eligible 
activity categories: (i) Compensation--personal services; (ii) 
Compensation--fringe benefits; (iii) Professional Service Costs; (iv) 
Travel Costs; (v) Training and Education Costs; (vi) Equipment and 
other capital expenditures; and (vii) Supplies. Each of the allowable 
activity categories will be eligible for indirect costs and an 
associated indirect cost rate. Indirect cost rates will be determined 
as part of the terms and conditions of the award. For purposes of this 
NOFA, the seven activity categories are defined as follows:

                Table 4--TA Eligible Activity Categories
------------------------------------------------------------------------
 
------------------------------------------------------------------------
(i) Compensation--personal services..  TA paid to cover salaries of the
                                        Applicant's personnel that are
                                        paid currently or accrued by the
                                        Applicant for work performed
                                        directly related to carrying out
                                        the purpose of the TA grant
                                        (including activities related to
                                        becoming certified as a CDFI),
                                        subject to the applicable
                                        provisions of the Uniform
                                        Federal Award Requirements.
(ii) Compensation--fringe benefits...  TA paid to cover costs of the
                                        Applicant's personnel employment
                                        (other than the employees'
                                        salaries income) in proportion
                                        to the salary charged to the TA
                                        grant, to the extent that such
                                        payments are made under formally
                                        established and consistently
                                        applied organizational policies,
                                        subject to the applicable
                                        provisions of the Uniform
                                        Federal Award Requirements.
(iii) Professional service costs.....  TA used to pay for professional
                                        and consultant services rendered
                                        by persons who are members of a
                                        particular profession or possess
                                        a special skill, and who are not
                                        officers or employees of the
                                        Recipient, subject to the
                                        applicable provisions of the
                                        Uniform Federal Award
                                        Requirements. Payment for a
                                        consultant's services may not
                                        exceed the daily equivalent of
                                        the current maximum rate paid to
                                        an Executive Schedule Level IV
                                        Federal employee.
(iv) Travel costs....................  TA used to pay expenses for
                                        transportation, lodging,
                                        subsistence, and related items
                                        incurred by the Applicant's
                                        personnel who are on travel
                                        status on business related to
                                        the TA grant, subject to the
                                        applicable provisions of the
                                        Uniform Federal Award
                                        Requirements.
(v) Training and education costs.....  TA used to pay the cost of
                                        training and education provided
                                        for employee development,
                                        subject to the applicable
                                        provisions of the Uniform
                                        Federal Award Requirements.
(vi) Equipment.......................  TA used to pay for tangible
                                        personal property, having a
                                        useful life of more than one
                                        year and a per-unit acquisition
                                        cost of at least $5,000 and
                                        subject to the applicable
                                        provisions of the Uniform
                                        Federal Award Requirements.
                                        Examples include office
                                        equipment, furnishings, and
                                        information technology equipment
                                        and systems.
(vii) Supplies.......................  TA used to pay for tangible
                                        personal property with a per
                                        unit acquisition of less than
                                        $5,000 and subject to the
                                        applicable provisions of the
                                        Uniform Federal Award
                                        Requirements.
------------------------------------------------------------------------


[[Page 58407]]

III. Eligibility Information

    A. Eligible Applicants: For the purposes of this NOFA, the 
following tables set forth the eligibility criteria to receive an award 
from the CDFI Fund, along with certain definitions of terms. There are 
four categories of Applicant eligibility criteria: (1) CDFI 
certification criteria (Table 5); (2) requirements that apply to all 
Applicants (Table 6); (3) requirements that apply to TA Applicants 
(Table 7); and (4) requirements that apply to FA Applicants (Table 8).

            Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Certified CDFI.......................   An entity that the CDFI
                                        Fund has officially notified
                                        that it meets all CDFI
                                        certification requirements.
Certifiable CDFI.....................   An entity that has
                                        submitted a CDFI Certification
                                        Application to the CDFI Fund
                                        demonstrating that it meets the
                                        CDFI certification requirements
                                        but which has not yet been
                                        officially certified.
                                        The CDFI Fund will not
                                        enter into an Assistance
                                        Agreement or disburse FA award
                                        funds unless and until an
                                        Applicant is Certified CDFI.
Emerging CDFI........................   A non-Certified entity
                                        that has not submitted a CDFI
                                        Certification Application but
                                        demonstrates to the CDFI Fund
                                        that it has an acceptable plan
                                        to meet certification
                                        requirements by the end of its
                                        period of performance, or
                                        another date that the CDFI Fund
                                        selects.
                                        An Emerging CDFI that
                                        has prior award(s) will be held
                                        to the CDFI certification
                                        performance goal and measure(s)
                                        stated in its prior Assistance
                                        Agreement(s).
                                        Emerging CDFIs may only
                                        apply for TA grants; they are
                                        not eligible to apply for FA
                                        awards.
                                        Each Emerging CDFI
                                        selected to receive a TA grant
                                        will be required to become a
                                        Certified CDFI by a date
                                        specified in the Assistance
                                        Agreement.
------------------------------------------------------------------------


          Table 6--Eligibility Requirements for All Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Applicant............................   Only the entity that
                                        will carry out the proposed
                                        award activities should apply
                                        for an award (e.g., the intended
                                        award Recipient).
                                        An Applicant that
                                        applies on behalf of another
                                        organization will be rejected
                                        without further consideration,
                                        except for Depository
                                        Institution Holding Companies
                                        (see below).
Application type and submission         The CDFI Fund will only
 overview.                              accept Applications that use the
                                        official Word Narrative and
                                        Excel Workbook templates
                                        provided on the Grants.gov and
                                        CDFI Fund Web sites.
                                        Applications submitted
                                        with alternative or altered
                                        templates will not be
                                        considered.
                                        Only Applications
                                        submitted via the Grants.gov Web
                                        site will be accepted for
                                        review.
Microsoft Word Narrative Template....   Each Applicant must
                                        submit a completed Microsoft
                                        Word Narrative Template.
                                        An Applicant that does
                                        not submit a completed Narrative
                                        Template will be rejected
                                        without further consideration.
Microsoft Excel Workbook.............   Each Applicant must
                                        submit a completed Microsoft
                                        Excel Workbook template.
                                        An Applicant that does
                                        not submit a completed Microsoft
                                        Excel Workbook template will be
                                        rejected without further
                                        consideration.
Employer Identification Number (EIN).   An Applicant must
                                        provide an electronic copy of
                                        the letter from the IRS as
                                        evidence that the Applicant has
                                        been assigned its own unique
                                        EIN.
                                        The CDFI Fund will
                                        reject an Application submitted
                                        with the EIN of a parent or
                                        Affiliate organization.
                                        The CDFI Fund will deem
                                        an Application incomplete if it
                                        does not include an IRS document
                                        that verifies the Applicant's
                                        EIN (a tax return is not an
                                        acceptable form of IRS
                                        documentation). The CDFI Fund
                                        will allow an Applicant two
                                        business days upon request by
                                        the CDFI Fund to submit the
                                        appropriate documentation before
                                        the Application will be rejected
                                        without further consideration
                                        due to missing documentation of
                                        the Applicant's EIN.
DUNS number..........................   Pursuant to OMB guidance
                                        (68 FR 38402), an Applicant must
                                        apply using its unique DUNS
                                        number in Grants.gov.
                                        The CDFI Fund will
                                        reject an Application submitted
                                        with the DUNS number of a parent
                                        or Affiliate organization.
MyCDFI Fund account..................   Each Applicant must
                                        register as an organization in
                                        MyCDFI Fund by the Application
                                        deadline.
                                        The Authorized
                                        Representative and/or
                                        Application point of contact
                                        must be included as ``users'' in
                                        the Applicant's MyCDFI Fund
                                        account.
                                        An Applicant that fails
                                        to properly register and update
                                        its MyCDFI Fund account may miss
                                        important communication from the
                                        CDFI Fund that could impact its
                                        Application.
                                        The CDFI Fund will allow
                                        an Applicant two business days
                                        upon request by the CDFI Fund to
                                        create or update its MyCDFI Fund
                                        account before the Application
                                        will be rejected without further
                                        consideration.
501(c)(4) status.....................   Pursuant to 2 U.S.C.
                                        1611, a 501(c)(4) any
                                        organization that engages in
                                        lobbying activities is not
                                        eligible for the receipt of a
                                        CDFI or NACA Program award.
Compliance with Federal civil rights    An Applicant may not be
 requirements.                          eligible to receive an award if
                                        proceedings have been instituted
                                        against it in, by, or before any
                                        court, governmental agency, or
                                        administrative body, and a final
                                        determination within the last
                                        three years indicates the
                                        Applicant has violated any of
                                        the following laws: Title VI of
                                        the Civil Rights Act of 1964, as
                                        amended (42 U.S.C. 2000d);
                                        Section 504 of the
                                        Rehabilitation Act of 1973 (29
                                        U.S.C. 794); the Age
                                        Discrimination Act of 1975, (42
                                        U.S.C. 6101-6107), and Executive
                                        Order 13166, Improving Access to
                                        Services for Persons with
                                        Limited English Proficiency.
Depository Institution Holding          In the case where a CDFI
 Company Applicant.                     Depository Institution Holding
                                        Company Applicant intends to
                                        carry out the activities of an
                                        award through its CDFI
                                        Subsidiary Insured Depository
                                        Institution, the Application
                                        must be submitted by the CDFI
                                        Depository Institution Holding
                                        Company and reflect the
                                        consolidated activities and
                                        financial performance of the
                                        CDFI Subsidiary Insured
                                        Depository Institution.

[[Page 58408]]

 
                                        Authorized
                                        representatives of both the
                                        Depository Institution Holding
                                        Company and the CDFI Subsidiary
                                        Insured Depository Institution
                                        must certify that the
                                        information included in the
                                        Application represents that of
                                        the CDFI Subsidiary Insured
                                        Depository Institution and that
                                        the award funds will be used to
                                        support the CDFI Subsidiary
                                        Insured Depository Institution
                                        for the eligible activities
                                        outlined in the Application.
Insured CDFI--Insured Credit Union      To be eligible for an
 and Insured Depository Institution.    award, each Insured Depository
                                        Institution Applicant must have
                                        a CAMELS/CAMEL (rating for banks
                                        and credit unions,
                                        respectively), by its Federal
                                        regulator of at least ``4.''
                                        Organizations with
                                        CAMELS/CAMEL ratings of ``5''
                                        will not be eligible for awards.
Use of award.........................   All awards made through
                                        this NOFA must be used to
                                        support the Applicant's approved
                                        FA or TA eligible activities
                                        (see Section II.C).
                                        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 (except Depository
                                        Institution Holding Company
                                        Applicants.)
Requested award amount for eligible     An Applicant must state
 activities.                            its requested award amount and
                                        proposed eligible activities in
                                        the ``Award Request Table'' (Tab
                                        4--Purpose) in the Excel
                                        Workbook.
                                        An Applicant that does
                                        not fully complete the ``Award
                                        Request Table'' will be rejected
                                        without further consideration.
Pending resolution of noncompliance..   The CDFI Fund will
                                        consider an Application
                                        submitted by an Applicant that
                                        has pending noncompliance issues
                                        if the CDFI Fund has not yet
                                        made a final determination as to
                                        whether the Applicant is in
                                        default of any of its previously
                                        executed award agreement(s).
Default status.......................   The CDFI Fund will not
                                        consider an Application
                                        submitted by an Applicant that
                                        has been notified by the CDFI
                                        Fund in writing that it is in
                                        default of a previously executed
                                        award agreement under any CDFI
                                        Fund program, at the time of the
                                        Application deadline.
                                        The CDFI Fund will not
                                        consider any Applicant that has
                                        defaulted on a CDFI Program loan
                                        within five years of the
                                        Application deadline.
Undisbursed award funds and             An Applicant that has
 calculations (general).                funds from a prior award that
                                        have not been disbursed, as
                                        defined in (a)-(d) below, as of
                                        the Application deadline will
                                        not be eligible for an award.
                                        (a) The CDFI Fund will include
                                        the combined undisbursed award
                                        funds of the Applicant and its
                                        Affiliates.
                                        (b) Balances on undisbursed
                                        award funds cannot exceed five
                                        percent of the combined BEA
                                        Program awards made to the
                                        Applicant in FYs 2011, 2012, and
                                        2013.
                                        (c) Balances on undisbursed
                                        award funds cannot exceed five
                                        percent of the combined CDFI/
                                        NACA Program awards made to the
                                        Applicant in FYs 2011, 2012, and
                                        2013.
                                        (d) The undisbursed award funds
                                        calculation does not include
                                        award funds for: (i) Which the
                                        Recipient has submitted a full
                                        and complete disbursement
                                        request before the Application
                                        deadline; (ii) an award that has
                                        been terminated or de-obligated;
                                        or (iii) an award that does not
                                        have a fully executed award
                                        agreement; and (iv) the tax
                                        credit allocation authority made
                                        available through the NMTC
                                        Program.
------------------------------------------------------------------------


           Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status............  (1) Certifiable or Emerging CDFIs
                                        (see definitions in Table 5), or
                                       (2) Certified CDFIs (see Table 5)
                                        that meet the SECA criteria (see
                                        Table 8).
Matching funds.......................   Matching funds
                                        documentation is not required
                                        for TA awards.
------------------------------------------------------------------------


           Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status............   Each FA Applicant must
                                        be a Certified CDFI prior to the
                                        announcement of award decisions.
                                        An Applicant that is in
                                        a cure period to remedy CDFI
                                        recertification deficiencies at
                                        the time of award announcements
                                        will not be eligible for an FA
                                        award under this NOFA.
Matching funds documentation.........   All Applicants must
                                        submit acceptable documentation
                                        that they have received or will
                                        receive matching funds.
                                        Applications that do not submit
                                        acceptable matching funds
                                        documentation will not be
                                        evaluated.
                                        Award size will be
                                        limited to no more than two
                                        times the amount of In-Hand or
                                        Committed matching funds
                                        documentation provided at the
                                        time of Application, but actual
                                        award size may be less than this
                                        amount. Awards will be obligated
                                        in like form to the matching
                                        funds provided.
                                        Award payments from the
                                        CDFI Fund will require eligible
                                        dollar-for-dollar In-Hand
                                        matching funds for the total
                                        payment amount.
                                        Any award Recipient that
                                        is not able to demonstrate
                                        dollar-for-dollar matching funds
                                        by the end of the Matching Funds
                                        Window will have its award
                                        amount reduced and the
                                        corresponding funds will be de-
                                        obligated.
$5 Million funding cap...............   The CDFI Fund is
                                        prohibited from obligating more
                                        than $5 million in CDFI and NACA
                                        Program awards, in the
                                        aggregate, to any one
                                        organization and its
                                        Subsidiaries and Affiliates
                                        during any three-year period.
                                        The CDFI Fund will make
                                        FY 2015 funding round award
                                        announcements on or after August
                                        7, 2015; the CDFI Fund will
                                        include awards in the cap
                                        calculation that were provided
                                        to an Applicant (and its
                                        Subsidiaries and Affiliates)
                                        under the FY 2013 and 2014
                                        funding rounds, as well as the
                                        requested FY 2015 award,
                                        excluding HFFI-FA awards.
FA Category I (SECA).................   To be an eligible SECA
                                        Applicant, an Applicant must
                                        meet the following criteria:
                                       (1) Be a Certified or Certifiable
                                        CDFI;
                                       (2) Request $700,000 or less in
                                        FA funds; and either

[[Page 58409]]

 
                                       (3) Have total assets * as of the
                                        end of the Applicant's most
                                        recent fiscal year end in the
                                        following amounts:
                                         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
                                       (4) Have begun operations ** on
                                        or after January 1, 2011
                                       * ``Total assets'' is defined as
                                        the Total Assets of Fiscal Year
                                        End Date field stated in the
                                        CDFI Program Applicant Intake
                                        Form.
                                       ** ``Have begun operations'' is
                                        defined as the financing
                                        activity start date indicated in
                                        the Applicant's MyCDFI Fund
                                        account.
FA Category II (Core)................   A Core Applicant must be
                                        either a Certified or
                                        Certifiable CDFI as defined in
                                        Table 5.
                                        An Applicant that meets
                                        the SECA requirements stated
                                        above, that requests more than
                                        $700,000 in award funds is
                                        categorized as an FA Category II
                                        (Core) Applicant, regardless of
                                        its total assets and/or years in
                                        operation.
HFFI-FA..............................   All HFFI-FA Applicants
                                        must:
                                        [cir] Apply for an FA Core or
                                        SECA award;
                                        [cir] Meet all FA award
                                        eligibility requirements; and
                                        [cir] Complete and submit a CDFI/
                                        NACA Program Financial
                                        Assistance Application along
                                        with an HFFI-FA Narrative
                                        Template at the time of
                                        Application.
------------------------------------------------------------------------

    B. Matching Funds Requirements: In order to receive an FA award, an 
Applicant must provide documentation of eligible dollar-for-dollar 
matching funds. The CDFI Fund will review all matching funds 
documentation prior to award disbursement and will disburse funds based 
upon eligible In-Hand matching funds (see Table 9 for the definition of 
In-Hand). The CDFI Fund encourages Applicants to review the Regulations 
at 12 CFR 1805.500, the Uniform Federal Award Requirements, and the 
matching funds guidance materials in the Excel Workbook, which is 
available on the CDFI Fund's Web site and Grants.gov. Table 9 provides 
a summary of the matching funds requirements; additional details are 
set forth in the Application materials.

                  Table 9--Matching Funds Requirements
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Matching funds requirements by         The following Applicants must
 application type.                      provide documentation of
                                        acceptable matching funds:
                                         Category 1/SECA FA
                                        Applicants,
                                         Category II/Core FA
                                        Applicants; and
                                         HFFI-FA Applicants.
                                        (upon request) *
                                       TA Applicants are not required to
                                        provide matching funds.
                                       * The matching funds requirement
                                        for HFFI-FA applicants was
                                        waived in the appropriations
                                        bill for FY 2014 and final FY
                                        2015 appropriations are still
                                        pending. HFFI-FA applicants are
                                        not required to submit matching
                                        funds for their HFFI-FA award
                                        request at the time of
                                        application. However, the CDFI
                                        Fund reserves the right to
                                        request matching funds from HFFI-
                                        FA applicants if matching funds
                                        are not waived in the final FY
                                        2015 CDFI Program appropriation.
Amount of required match.............  Applicants must submit
                                        documentation of eligible In-
                                        Hand dollar-for-dollar non-
                                        Federal matching funds for every
                                        FA award dollar to be disbursed
                                        by the CDFI Fund.
Determination of award form..........  FA awards will be made in
                                        comparable form and value to the
                                        eligible In-Hand or Committed
                                        matching funds documentation
                                        submitted by the Applicant.
                                         For example, if an FA
                                        Applicant provides documentation
                                        of eligible loan matching funds
                                        for $200,000 and $400,000 of its
                                        matching funds in the form of
                                        grant, the CDFI Fund will
                                        obligate $200,000 of the FA
                                        award as a loan and $400,000 as
                                        a grant.
Matching Funds Window definition.....   The Applicant must
                                        receive eligible In-Hand
                                        matching funds between January
                                        1, 2013 and January 15, 2016.
                                        An award Recipient must
                                        provide the CDFI Fund with all
                                        documentation demonstrating the
                                        receipt of matching funds by
                                        January 31, 2016.
Matching funds and form of award.....   Recipients will be
                                        approved for a maximum award
                                        size of two times the total
                                        amount of eligible In-Hand or
                                        Committed matching funds
                                        documentation included in the
                                        Application, so long as they do
                                        not exceed the award amount
                                        limit.
                                        The form of the matching
                                        funds documented in the
                                        Application determines the form
                                        of the award.
In-Hand matching funds definition....   Matching funds are
                                        eligible and In-Hand when the
                                        Applicant actually receives
                                        disbursement of the matching
                                        funds and includes acceptable
                                        documentation in the
                                        Application, showing the source,
                                        form (e.g., grant, loan,
                                        deposit, and Equity Investment),
                                        and amount of the matching
                                        funds.
                                        The following
                                        documentation, depending on the
                                        type of award being requested,
                                        must be included in the
                                        Application:
                                        i. loan--the loan agreement and/
                                        or promissory note;
                                        ii. grant--the grant letter or
                                        agreement for all grants of
                                        $50,000 or more;
                                        iii. Equity Investment--the
                                        stock certificate and
                                        shareholder agreement;
                                        iv. retained earnings--audits or
                                        call reports from regulating
                                        entity; and
                                        v. third party in-kind
                                        contribution--evidence of
                                        receipt of contribution and
                                        valuation; and
                                        vi. clearly legible
                                        documentation that demonstrates
                                        receipt of the matching funds
                                        including the date of the
                                        transaction and the amount, such
                                        as a copy of a check or a wire
                                        transfer statement.
                                        The CDFI Fund will only
                                        disburse FA awards that have
                                        eligible In-Hand matching funds,
                                        as determined by the CDFI Fund.

[[Page 58410]]

 
Committed matching funds definition..   Matching funds are
                                        Committed when 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 at
                                        a future date.
                                        The Applicant must
                                        provide to the CDFI Fund
                                        acceptable written documentation
                                        showing the source, form, and
                                        amount of the Committed matching
                                        funds (including, in the case of
                                        a loan, the terms thereof), as
                                        well as the anticipated
                                        disbursement date of the
                                        Committed funds.
Limitations on matching funds........   Matching funds must be
                                        from non-Federal sources.
                                        Applicants cannot
                                        proffer matching funds that were
                                        accepted as matching funds for a
                                        prior FA award under the CDFI
                                        Program or under another Federal
                                        grant or award program.
                                        Matching funds must
                                        comply with Regulations at 12
                                        CFR 1805.500 et seq.
                                        The CDFI Fund will not
                                        consider any FA Application that
                                        does not include any In-Hand or
                                        Committed matching funds
                                        documentation as of the
                                        Application deadline.
                                        Matching funds must be
                                        attributable to at least one of
                                        the five eligible activities
                                        (see Section II.C).
Rights of the CDFI Fund..............   The CDFI Fund reserves
                                        the right to contact the
                                        matching funds source to discuss
                                        the matching funds and the
                                        documentation that the Applicant
                                        has provided.
                                        The CDFI Fund may grant
                                        an extension of the Matching
                                        Funds Window (defined in Table
                                        9), on a case-by-case basis, if
                                        the CDFI Fund deems it
                                        appropriate.
                                        The CDFI Fund reserves
                                        the right to rescind all or a
                                        portion of an FA award and re-
                                        allocate the rescinded award
                                        amount to other qualified
                                        Applicant(s), if an award
                                        Recipient fails to obtain In-
                                        Hand 100 percent of the required
                                        Matching Funds during the
                                        Matching Funds Window.
Matching funds in the form of third-    Third party in-kind
 party in-kind contributions.           contributions are the value of
                                        non-cash contributions (i.e.,
                                        property or services) provided
                                        by non-Federal third parties.
                                        Third party in-kind
                                        contributions will be considered
                                        to be in the form of a grant.
                                        Third party in-kind
                                        contributions may be in the form
                                        of real property, equipment,
                                        supplies, and other expendable
                                        property, and the value of goods
                                        and services directly benefiting
                                        the eligible activities.
                                        For third-party in-kind
                                        contributions, the fair market
                                        value of goods and services must
                                        be documented.
                                        Applicants will be
                                        responsible for documenting the
                                        value of all in-kind
                                        contributions as described in
                                        the Uniform Federal Award
                                        Requirements.
Matching funds in the form of a loan.   An FA award made in the
                                        form of a loan will have the
                                        following standardized terms:
                                        A 13-year term with semi-
                                        annual interest-only payments
                                        due in years 1 through 10, and
                                        fully amortizing payments due
                                        each year in years 11 through
                                        13; and
                                        A fixed interest rate of
                                        2.5 percent, which was
                                        calculated by the CDFI Fund
                                        based on the U.S. Department of
                                        the Treasury's 10-year Treasury
                                        note.
                                        The Applicant's matching
                                        funds loan(s) must:
                                        i. have a minimum of a 3-year
                                        term. Loans presented as
                                        matching funds with less than a
                                        3-year term will not qualify as
                                        eligible match; and
                                        ii. not be from a Federal
                                        source.
Ineligible matching funds............   If the CDFI Fund
                                        determines that any portion of
                                        the Applicant's matching funds
                                        is ineligible, the CDFI Fund
                                        will permit the Applicant to
                                        offer documentation of
                                        alternative matching funds as a
                                        substitute for the ineligible
                                        matching funds.
                                        In such instances:
                                        i. the Applicant must provide
                                        acceptable alternative matching
                                        funds documentation within the
                                        period of time specified by the
                                        CDFI Fund, and
                                        ii. the alternative matching
                                        funds documentation will not
                                        increase the total amount of FA
                                        requested.
Use of matching funds from a prior     If an Applicant offers matching
 CDFI Program Recipient.                funds documentation from an
                                        organization that was a prior
                                        Recipient under the CDFI
                                        Program, the Applicant must
                                        prove to the CDFI Fund's
                                        satisfaction that such funds do
                                        not consist, in whole or in
                                        part, of CDFI Program funds or
                                        other Federal funds.
Matching funds in the form of           Retained earnings are
 retained earnings.                     eligible for use as matching
                                        funds when the CDFI Fund
                                        calculates an amount equal to:
                                        i. the increase in retained
                                        earnings that occurred over any
                                        one of the Applicant's fiscal
                                        years within the Matching Funds
                                        Window, adjusted to remove
                                        revenue and expenses derived
                                        from Federal sources and
                                        matching funds previously used
                                        for an award; or
                                        ii. the annual average of such
                                        increases that occurred over any
                                        three consecutive fiscal years
                                        of the Applicant with at least
                                        one of the fiscal years
                                        occurring within the Matching
                                        Funds Window, adjusted to remove
                                        revenue and expenses derived
                                        from Federal sources and
                                        matching funds previously used
                                        for an award; or
                                        iii. any combination of (i) and
                                        (ii) above that does not include
                                        matching funds previously used
                                        for an award.
                                        Retained earnings will
                                        be matched in the form of a
                                        grant.
Special rule for Insured Credit         An Insured Credit
 Unions.                                Union's retained earnings are
                                        eligible for use as matching
                                        funds when the CDFI Fund
                                        calculates an amount equal to:
                                        i. the increase in retained
                                        earnings that occurred over any
                                        one of the Applicant's fiscal
                                        years within the Matching Funds
                                        Window, adjusted to remove
                                        revenue from Federal sources and
                                        matching funds previously used
                                        for an award; or
                                        ii. the annual average of such
                                        increases that occurred over any
                                        three consecutive fiscal years
                                        of the Applicant with at least
                                        one of the fiscal years
                                        occurring within the Matching
                                        Funds Window, adjusted to remove
                                        revenue and expenses derived
                                        from Federal sources and
                                        matching funds previously used
                                        for an award; or
                                        iii. the entire retained
                                        earnings that have been
                                        accumulated since the inception
                                        of the Applicant, as provided in
                                        the Regulations.
                                        If option (iii) is used,
                                        the Applicant must increase its
                                        member and/or non-member shares
                                        and/or total loans outstanding
                                        by an amount equal to the amount
                                        of retained earnings committed
                                        as matching funds.

[[Page 58411]]

 
                                        This increase will be
                                        measured from March 31, 2015 and
                                        must occur by the end of the
                                        Recipient's Year 1 of
                                        Performance Period, as set forth
                                        in its Assistance Agreement, and
                                        will be based on amounts
                                        reported in the Applicant's
                                        National Credit Union
                                        Administration (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
                                        financial statements or NCUA
                                        form 5300 Call Report that it
                                        has increased shares and/or
                                        loans by at least 25 percent of
                                        the requested FA award amount
                                        between December 31, 2013, and
                                        December 31, 2014.
                                        The matching funds are
                                        not In-Hand until the Recipient
                                        has increased its member and/or
                                        non-member shares or total loans
                                        outstanding within the time
                                        period specified.
------------------------------------------------------------------------

IV. Application and Submission Information

    A. Address to Request an Application Package: Application materials 
can be found on Grants.gov and the CDFI Fund's Web site at 
www.cdfifund.gov/cdfi. Applicants may request a paper version of any 
Application material by contacting the CDFI Fund Help Desk at 
[email protected].
    B. Content and Form of Application Submission:
    All Applications must be prepared using the English language and 
calculations must be made in U.S. dollars. The following table lists 
the required Application documents for the FY 2015 Funding Round. The 
CDFI Fund reserves the right to request and review other pertinent or 
public information that has not been specifically requested in this 
NOFA or the Application. Information submitted by the Applicant that 
the CDFI Fund has not specifically been requested will not be reviewed 
or considered as part of the Application.

                                    Table 10--Required Application Documents
----------------------------------------------------------------------------------------------------------------
         Application documents                 Applicant type                     Submission format
----------------------------------------------------------------------------------------------------------------
Applicant Intake Form..................  All Applicants............  Fillable PDF
SF-424.................................  All Applicants............  Fillable PDF.
IRS Documentation of Organization's EIN  New Applicants only.......  PDF.
Application Excel Workbook Tab 3--Input  All Applicants............  Excel.
 Sheet.
Application Excel Workbook Tab 4--       All Applicants............  Excel.
 Purpose.
Application Excel Workbook Tab 5--       All Applicants............  Excel.
 Products.
Application Excel Workbook Tab 6--       All Applicants............  Excel.
 Policies.
Application Excel Workbook Tab 7--       All Applicants............  Excel.
 People.
Application Excel Workbook Tab 8--       All Applicants............  Excel.
 Partnerships.
Application Excel Workbook Tab 9--       All Applicants............  Excel.
 Performance.
Application Excel Workbook Tab 10--      All Applicants............  Excel.
 Projections.
Application Excel Workbook Tab 13--      FA Applicants.............  Excel.
 Matching Funds Breakout Table.
Application Excel Workbook Tab 14--      FA Applicants, if           Excel.
 Matching Funds Grants under $50,000.     applicable.
Matching Funds Documentation...........  FA Applicants.............  PDF.
Narrative Template.....................  All Applicants............  Word document.
HFFI-FA Narrative Template.............  HFFI-FA Applicants........  Word document.
Policies and Procedures................  FA Applicants.............  PDF.
Key Staff Resumes......................  All Applicants............  PDF or Word document.
Organizational Chart...................  All Applicants............  PDF.
Community Partnership Agreement........  All Applicants, if          PDF or Word document.
                                          applicable.
Audited Financial Statements, September  FA Applicants.............  PDF.
 30, 2014 Quarter End Financial
 Statements, and Call Reports (Insured
 Depository Institutions only).
Financial Statements, September 30,      TA Applicants.............  PDF.
 2014 Quarter End Financial Statements,
 and Call Reports (Insured Depository
 Institutions only).
----------------------------------------------------------------------------------------------------------------

    C. Application Submission: All Application documents must be 
submitted through the Grants.gov electronic system. The CDFI Fund will 
not accept Applications via MyCDFI Fund accounts, email, mail, 
facsimile, or other forms of communication, except in extremely rare 
circumstances that have been pre-approved by the CDFI Fund.
    The CDFI Fund strongly encourages Applicants to start the 
Grants.gov registration process as soon as possible (refer to the 
following link: http://www.grants.gov/web/grants/register.html) as it 
may take several weeks to complete. An Applicant that has previously 
registered with Grants.gov must verify that its registration is current 
and active. Applicants should contact Grants.gov directly with 
questions related to the registration or submittal process as the CDFI 
Fund does not maintain the Grants.gov system.
    D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to 
the Uniform Federal Award Requirements, each Applicant must provide as 
part of its Application submission, a Dun and Bradstreet Universal 
Numbering System (DUNS) number. Applicants without a DUNS number will 
not be able to register and submit an Application in the Grants.gov 
system. Please allow sufficient time for Dun & Bradstreet to respond to 
inquiries and/or requests for DUNS numbers.
    E. System for Award Management (SAM): Any entity applying for 
Federal grants or other forms of Federal financial assistance through 
Grants.gov must be registered in SAM before submitting its Application. 
The SAM registration process can take several weeks to complete. 
Applicants that have previously completed the SAM registration process 
must verify that

[[Page 58412]]

their SAM accounts are current and active. Each Applicant must continue 
to maintain an active SAM registration with current information at all 
times during which it has an active Federal award or an Application 
under consideration by a Federal awarding agency. The CDFI Fund will 
not consider any Applicant that fails to properly register or activate 
its SAM account and, as a result, is unable to submit its Application 
by the Application deadline. Applicants must contact SAM directly with 
questions related to registration or SAM account changes as the CDFI 
Fund does not maintain this system. For more information about SAM, 
please visit https://www.sam.gov.
    F. Submission Dates and Times:
    1. Submission Deadlines: The following table provides the critical 
deadlines for the FY 2015 Funding Round.

                        Table 11--FY 2015 Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
             Description                       Deadline                Time (EDT)           Submission method
----------------------------------------------------------------------------------------------------------------
CDFI Certification Applications......  October 24, 2014.......  5:00 p.m...............  MyCDFI Fund: https://www.cdfifund.gov/myCDFI myCDFI.
Last day to contact CDFI Program       November 20, 2014......  5:00 p.m...............  CDFI Fund Helpdesk: 202-
 staff.                                                                                   653-0421 or
                                                                                          [email protected].
CDFI Program Application for           November 24, 2014......  11:59 p.m..............  Electronically via
 Financial Assistance (FA) or                                                             Grants.gov.
 Technical Assistance (TA).
----------------------------------------------------------------------------------------------------------------

    2. Confirmation of Application Submission: Each Applicant will 
receive an email from Grants.gov immediately after Application 
submission confirming that the submission has entered the Grants.gov 
system. This email will contain a tracking number for the submitted 
Application package. Within 48 hours, the Applicant will receive a 
second email which will indicate if the submitted Application package 
was either successfully validated or rejected with errors. However, 
Applicants should not rely on the email notification from Grants.gov to 
confirm that their Applications were validated. Applicants are strongly 
encouraged to use the tracking number provided in the first email to 
closely monitor the status of their Application package by contacting 
the helpdesk at Grants.gov directly. The Application package is not 
officially accepted by the CDFI Fund until Grants.gov has validated the 
Application.
    3. Multiple Application Submissions: If an Applicant submits 
multiple Applications, the CDFI Fund will only review the last 
Application submitted in Grants.gov.
    4. Late Submission: The CDFI Fund will not accept an Application 
submitted after the Application deadline except where the submission 
delay was a direct result of a Federal government administrative or 
technological error. In such case, the Applicant must submit a request 
for acceptance of late Application submission and include documentation 
of the error no later than two business days after the Application 
deadline. The CDFI Fund will not respond to request for acceptance of 
late Application submissions after that time period. Applicants must 
submit late Application submission requests to the CDFI Helpdesk at 
[email protected] with a subject line of ``Late Application 
Submission Request.''
    G. Funding Restrictions: FA, HFFI-FA and TA awards are limited by 
the following:
    1. FA awards:
    (a) An award Recipient shall use FA funds only for the eligible 
activities described in Section II. Award Description (C)(1) of this 
NOFA and its Assistance Agreement.
    (b) A Recipient may not distribute FA funds to an Affiliate, 
Subsidiary, or any other entity, without the CDFI Fund's prior written 
approval.
    (c) FA funds shall only be disbursed to the Recipient.
    (d) The CDFI Fund, in its sole discretion, may disburse FA funds in 
amounts, or under terms and conditions, which are different from those 
requested by an Applicant.
    2. HFFI-FA awards:
    (a) An award Recipient shall use HFFI-FA funds only for the 
eligible activities described in Section II. Award Description (C)(1) 
of this NOFA and its Assistance Agreement.
    (b) A Recipient may not distribute FA funds to an Affiliate, 
Subsidiary, or any other entity, without the CDFI Fund's prior written 
approval.
    (c) HFFI-FA funds shall only be disbursed to the Recipient.
    (d) The CDFI Fund, in its sole discretion, may disburse HFFI-FA 
funds in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.
    3. TA grants:
    (a) An award Recipient shall use TA funds only for the eligible 
activities described in Section II. Award Description (C)(2) of this 
NOFA and its Assistance Agreement.
    (b) A Recipient may not distribute TA funds to an Affiliate, 
Subsidiary or any other entity, without the CDFI Fund's prior written 
consent.
    (c) TA funds shall only be disbursed to the Recipient.
    (d) The CDFI Fund, in its sole discretion, may disburse TA funds in 
amounts, or under terms and conditions, which are different from those 
requested by an Applicant.

V. Application Review Information

    1. Criteria: 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, the Application guidance, and the Uniform 
Federal Award Requirements. The CDFI Fund reserves the right to contact 
the Applicant by telephone, email, or mail for the sole purpose of 
clarifying or confirming Application information. If contacted, the 
Applicant must respond within the time period communicated by the CDFI 
Fund or run the risk that its Application will be rejected.
    (a) Application Scoring and Award Selection (FA, HFFI-FA, and TA): 
The CDFI Fund will evaluate each Application using the FA and TA 
Application Scoring Criteria described in the Application. An Applicant 
must receive a minimum 50 percent of the total score for the FA, HFFI-
FA, and TA components in order to be considered for an award. An 
Applicant that is an Emerging CDFI and has not received a previous TA 
award will be rated, among other elements, on its plan to meet the 
requirements of a Certified CDFI within two years of the beginning of 
the period of performance. In addition, an Emerging CDFI Applicant that 
is a prior

[[Page 58413]]

TA Recipient will be rated, among other elements, on its plan to meet 
the CDFI certification goal specified in its previous Assistance 
Agreement.
    The CDFI Fund will score each part as indicated in Table 12 and 13.

             Table 12--FA & TA Application Scoring Criteria
------------------------------------------------------------------------
                                           FA Applicants   TA Applicants
       FA & TA narrative sections            (points)        (points)
------------------------------------------------------------------------
Executive Summary.......................      Not Scored      Not Scored
Purpose/Proposal........................              10              15
Products................................              10              10
Policies................................              10              10
People..................................              10              15
Partnerships............................              10               5
Performance.............................              40              30
Projections.............................              10              15
                                         -------------------------------
    Total Points........................             100             100
------------------------------------------------------------------------


             Table 13--HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
                                                            HFFI-FA
              HFFI-FA Narrative sections                   Applicants
------------------------------------------------------------(points)----
H1. HFFI Target Market Profile.......................                  4
H2. Healthy Food Financial Products..................                  5
H3. Healthy Food Development Services................                  2
H4. Projected HFFI-FA Activities.....................                  7
H5, H6, and H7. HFFI Track Record, Management                          7
 Capacity for Providing Healthy Food Financing,
 Healthy Food Financing Outcomes.....................
                                                      ------------------
    Total Points.....................................                 25
------------------------------------------------------------------------

    The CDFI Fund will deduct points, in accordance with the following 
table, from Applicants that have received prior awards under any CDFI 
Fund program:

                       Table 14--Point Deductions
------------------------------------------------------------------------
                Issues                            Descriptions
------------------------------------------------------------------------
Failure to meet Agreement              The CDFI Fund will deduct points
 requirements.                          from any Applicant that has not
                                        met requirements in any
                                        previously executed CDFI Fund
                                        award agreement(s) including
                                        compliance reports due 24 months
                                        prior to the Application
                                        deadline.
Failure to provide timely loan         The CDFI Fund will deduct points
 payments.                              from any Applicant that has
                                        failed to submit one or more
                                        timely loan payments to the CDFI
                                        Fund within the 24 months prior
                                        to the Application deadline.
Incurred de-obligations..............  The CDFI Fund will deduct points
                                        from any Applicant if any CDFI
                                        Fund award funds were de-
                                        obligated within the 12 months
                                        prior to the Application
                                        deadline for any reason other
                                        than insufficient matching
                                        funds.
                                       Points will not be deducted for
                                        any de-obligations that resulted
                                        from a Recipient's inability to
                                        provide eligible matching funds
                                        within the specified time frame.
------------------------------------------------------------------------

    2. Review and Selection Process. All Applications will be initially 
evaluated by external non-Federal reviewers who are selected based on 
criteria that includes: A professional background in community and 
economic development finance; experience reviewing financial statements 
of all CDFI institution types; and experience performing underwriting 
of community and economic development projects. Reviewers must complete 
the CDFI Fund's conflict of interest process and be approved by the 
CDFI Fund. The CDFI Fund's application reader conflict of interest 
policy is located on the CDFI Fund's Web site.
    TA Applications will be evaluated by one external reviewer; FA and 
HFFI-FA Applications will be evaluated by three external reviewers. All 
Applications will be reviewed in accordance with reviewer evaluation 
materials. Applications will be ranked based on Application scores, 
from highest to lowest. In the case of tied scores, Applicants will be 
ranked first according to each Performance score, then the Purpose 
section. TA Applicants, Category I, Category II, and HFFI-FA Applicants 
will be grouped and ranked separately.
    3. Programmatic and Financial Risk Analysis. The CDFI Fund conducts 
three additional levels of due diligence for Applications that are in 
scoring contention for an award. This due diligence includes an 
analysis of programmatic and financial risk factors including, but not 
limited to: Financial stability; quality of management systems and 
ability to meet award management standards; history of performance in 
managing Federal awards (including timeliness of reporting and 
compliance); reports and findings from audits; and

[[Page 58414]]

the Applicant's ability to effectively implement Federal requirements. 
Award amounts may be reduced as a result of this analysis. In addition, 
for FA awards, the CDFI Fund may reduce awards sizes from requested 
amounts based on certain variables, including an Applicant's loan 
disbursement activity, total portfolio outstanding, and similar 
factors. Lastly, the CDFI Fund may consider the institutional diversity 
of Applicants when making its funding decisions.
    4. Insured Depository Institutions: The CDFI Fund will consider 
safety and soundness information from the Appropriate Federal or State 
Banking Agency. If the Applicant is a CDFI Depository Institution 
Holding Company, the CDFI Fund will consider information provided by 
the Appropriate Federal or State Banking Agencies on the CDFI 
Depository Institution Holding Company and the CDFI Certified Insured 
Depository Institution that will expend and carry out the award. If the 
Appropriate Federal Banking Agency or Appropriate State 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.
    5. Non-Regulated Institutions: In accordance with the CDFI 
Program's authorizing statute and regulations, the CDFI Fund must 
ensure, to the maximum extent practicable, that recipients that are 
non-regulated CDFIs are financially and managerially sound and maintain 
appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 
1805.800(b)). Further, the CDFI Fund must determine that an Applicant's 
capacity to operate as a CDFI will not be dependent upon assistance 
from the CDFI Fund for continued viability (12 U.S.C. 4704(b)(2)(A)). 
If it is determined the Applicant is incapable of meeting these 
requirements, the CDFI Fund reserves the right to deem the Applicant 
ineligible or terminate the award.
    6. Anticipated Award Announcement: The CDFI Fund anticipates making 
CDFI Program award announcements by September 30, 2015.
    7. Application Rejection: The CDFI Fund reserves the right to 
reject an Application if information (including administrative error) 
comes to the CDFI Fund's attention that either: Adversely affects an 
Applicant's eligibility for an award; adversely affects the Recipient's 
certification as a CDFI (to the extent that the award is conditional 
upon CDFI certification); 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 its Web site. 
The CDFI Fund's award decisions are final and there is no right to 
appeal the decisions.

VI. Federal Award Administration Information

    A. Award Notification: Each successful Applicant will receive an 
email ``notice of award'' notification from the CDFI Fund stating that 
its Application has been approved for an award. Each Applicant not 
selected for an award will receive an email stating that a debriefing 
notice has been provided in its MyCDFI Fund account.
    B. Assistance Agreement: Each Applicant selected to receive an 
award must enter into an Assistance Agreement with the CDFI Fund in 
order to receive a disbursement(s). The Assistance Agreement will set 
forth the award's terms and conditions, including but not be limited to 
the: (i) Award amount; (ii) award type; (iii) award uses; (iv) Target 
Market(s) or activities; (v) performance goals and measures; and (vi) 
reporting requirements. FA Assistance Agreements have three-year 
periods of performance; TA Assistance Agreements have two-year periods 
of performance.
    1. Certificate of Good Standing: All FA and TA Recipients that are 
not Insured Depository Institutions will be required to provide the 
CDFI Fund with a certificate of good standing from the secretary of 
state for the Recipient's State of incorporation prior to closing. This 
certificate can often be acquired online on the secretary of state Web 
site for the Recipient's State of incorporation and must generally be 
dated within 270 days before the date the Recipient executes the 
Assistance Agreement. Due to potential backlogs in State government 
offices, Applicants are advised to submit requests for certificates of 
good standing no later than 60 days after they submit their 
Applications.
    2. Closing: Pursuant to the Assistance Agreement, there will be an 
initial closing at which point the Assistance Agreement and related 
documents will be properly executed and delivered, and an initial 
payment of FA or TA may be made. The CDFI Fund will minimize the time 
between the Recipient incurring costs for eligible activities and award 
payment based on what is administratively feasible. The advanced 
payments for eligible activities will occur no more than one year in 
advance of the Recipient incurring costs for the eligible activities. 
Following the initial closing, there may be subsequent closings 
involving additional award payments. Any documents in addition to the 
Assistant Agreement that are connected with such subsequent closings 
and payments shall be properly executed and timely delivered by the 
Recipient to the CDFI Fund.
    3. Requirements Prior To Entering Into an Assistance Agreement: If, 
prior to entering into an Assistance Agreement, information (including 
administrative error) comes to the CDFI Fund's attention that: 
Adversely affects the Recipient's eligibility for an award; the 
Recipient's certification as a CDFI (to the extent that the award is 
conditional upon CDFI certification); the CDFI Fund's evaluation of the 
Application evaluation; the Recipient is not in compliance with any 
requirement listed the Uniform Federal Award Requirements; or indicates 
fraud or mismanagement on the Recipient's part, the CDFI Fund may, in 
its discretion and without advance notice to the Recipient, terminate 
the award or take such other actions as it deems appropriate. The CDFI 
Fund reserves the right, in its sole discretion, to rescind an award if 
the Recipient fails to return the Assistance Agreement, signed by the 
authorized representative of the Recipient, and/or provide the CDFI 
Fund with any other requested documentation, within the CDFI Fund's 
deadlines.
    In addition, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Assistance Agreement and the 
award made under this NOFA pending the criteria described in the 
following table:

[[Page 58415]]



    Table 15--Requirements Prior to Executing an Assistance Agreement
------------------------------------------------------------------------
             Requirement                            Criteria
------------------------------------------------------------------------
Failure to meet reporting               If a Recipient received
 requirements.                          a prior award under any CDFI
                                        Fund program and is not current
                                        with the reporting requirements
                                        in the previously executed
                                        agreement(s), the CDFI Fund can
                                        delay entering into an
                                        Assistance Agreement or
                                        disbursing an award until
                                        reporting requirements are met.
                                        If such a Recipient is
                                        unable to meet the requirement
                                        within the timeframe specified,
                                        the CDFI Fund may terminate and
                                        rescind the Assistance Agreement
                                        and the award made under this
                                        NOFA.
                                        The automated systems
                                        the CDFI Fund uses only
                                        acknowledge a report's receipt,
                                        not a determination of meeting
                                        reporting requirements.
Failure to maintain CDFI                An FA Recipient must be
 Certification.                         a Certified CDFI prior to
                                        entering into an Assistance
                                        Agreement.
                                        If an FA Recipient fails
                                        to maintain CDFI Certification,
                                        the CDFI Fund will terminate and
                                        rescind the Assistance Agreement
                                        and the award made under this
                                        NOFA.
Pending resolution of noncompliance..   The CDFI Fund will delay
                                        entering into an Assistance
                                        Agreement with a Recipient that
                                        has pending noncompliance issues
                                        if the CDFI Fund has not yet
                                        made a final determination as to
                                        whether the Recipient is in
                                        default of its previously
                                        executed award agreement(s).
                                        If the Recipient is
                                        unable to satisfactorily resolve
                                        the compliance issues, the CDFI
                                        Fund may terminate and rescind
                                        the Assistance Agreement and the
                                        award made under this NOFA.
Default status.......................   If, at any time prior to
                                        entering into an Assistance
                                        Agreement, the CDFI Fund
                                        determines that an Recipient is
                                        in default of a previously
                                        executed agreement with the CDFI
                                        Fund and the Recipient has been
                                        provided written notification of
                                        such determination, the CDFI
                                        Fund can delay entering into an
                                        Assistance Agreement, until the
                                        Recipient has cured the default
                                        by taking actions the CDFI Fund
                                        has specified within the
                                        specified timeframe.
                                        If the Recipient is
                                        unable to meet the cure
                                        requirement within the specified
                                        timeframe, the CDFI Fund may
                                        terminate and rescind the
                                        Assistance Agreement and the
                                        award made under this NOFA.
Final Default and sanctions..........  If the CDFI Fund has found the
                                        Recipient in final default of a
                                        prior executed agreement and
                                        provided notification of
                                        sanctions, the CDFI Fund may
                                        terminate and rescind the
                                        Assistance Agreement and the
                                        award made under this NOFA
                                        within the time period specified
                                        in such notification.
Compliance with Federal civil rights   If prior to entering into an
 requirements.                          Assistance Agreement under this
                                        NOFA, the Recipient receives a
                                        final determination, made within
                                        the last three years, in any
                                        proceeding instituted against
                                        the Recipient in, by, or before
                                        any court, governmental, or
                                        administrative body or agency,
                                        declaring that the Recipient has
                                        violated the following laws:
                                        Title VI of the Civil Rights Act
                                        of 1964, as amended (42 U.S.C.
                                        2000d); Section 504 of the
                                        Rehabilitation Act of 1973 (29
                                        U.S.C. 794); the Age
                                        Discrimination Act of 1975, (42
                                        U.S.C. 6101-6107), and Executive
                                        Order 13166, Improving Access to
                                        Services for Persons with
                                        Limited English Proficiency, the
                                        CDFI Fund will terminate and
                                        rescind the Assistance Agreement
                                        and the award made under this
                                        NOFA.
Do Not Pay...........................   The Do Not Pay Business
                                        Center was developed to support
                                        Federal agencies in their
                                        efforts to reduce the number of
                                        improper payments made through
                                        programs funded by the Federal
                                        government.
                                        The CDFI Fund reserves
                                        the right, in its sole
                                        discretion, to rescind an award
                                        if the Recipient is identified
                                        as an ineligible recipient on
                                        the Do Not Pay database.
Safety and soundness.................   If it is determined the
                                        Recipient is or will be
                                        incapable of meeting its award
                                        obligations, the CDFI Fund will
                                        deem the Recipient to be
                                        ineligible or require it to
                                        improve safety and soundness
                                        conditions prior to entering
                                        into an Assistance Agreement.
------------------------------------------------------------------------

    C. Reporting:
    1. Reporting requirements: On an annual basis for the period of 
performance, the CDFI Fund may collect information from each Recipient 
including, but not limited to, an Annual Report with the following 
components:

                 Table 16--Annual Reporting Requirements
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Single Audit Narrative Report (or      The Recipient must submit, via
 like report).                          MyCDFI Fund, a Single Audit
                                        Narrative Report for each year
                                        of its period of performance
                                        notifying the CDFI Fund whether
                                        it is required to have a single
                                        audit pursuant to OMB Single
                                        Audit requirements.
Single Audit (if applicable) (or       If a Recipient is required to
 similar report).                       complete a Single Audit Report,
                                        it should be submitted to the
                                        Federal Audit Clearinghouse see
                                        2 CFR Subpart F-Audit
                                        Requirements in the Uniform
                                        Federal Award Requirements.
                                       For-profit Recipients will be
                                        required to complete and submit
                                        a similar report directly to the
                                        CDFI Fund.
Institution Level Report (ILR).......  The ILR is a report used to
                                        collect compliance and
                                        performance data from CDFI Fund
                                        award Recipients. The ILR is
                                        submitted through the Community
                                        Investment Impact System (CIIS)
                                        and captures organizational
                                        information, financial position,
                                        lending and investing
                                        activities, community
                                        development outputs, and
                                        development services.
Transaction Level Report (TLR).......  The TLR is a report used to
                                        collect compliance and
                                        performance data from CDFI Fund
                                        award Recipients. The TLR is
                                        submitted through the CIIS and
                                        captures data on each individual
                                        loan and investment in the award
                                        Recipient's portfolio.
                                        For CDFI Depository
                                        Institution Holding Company
                                        award Recipients, the TLR
                                        captures data on the individual
                                        loans and investments by its
                                        CDFI Subsidiary Insured
                                        Depository Institution's
                                        portfolio.
                                        TLR is not required for
                                        TA Recipients.
Federal Financial Report/OMB Standard  If the Recipient receives a TA
 Form 425.                              award, it must submit the
                                        Federal Financial Report/OMB
                                        Standard Form 425 via MyCDFI
                                        Fund.

[[Page 58416]]

 
Uses of Financial Assistance Report..  If the Recipient receives an FA
                                        award, it must submit the Uses
                                        of Financial Assistance Report
                                        via MyCDFI Fund.
Explanation of Noncompliance (as       If the Recipient fails to meet a
 applicable) or successor report.       Performance Goal, it must submit
                                        the Explanation of Noncompliance
                                        via MyCDFI Fund.
Uses of Technical Assistance Report..  If the Recipient receives a TA
                                        award, it must submit the Uses
                                        of Technical Assistance Report
                                        via MyCDFI Fund.
------------------------------------------------------------------------

    Each Recipient is responsible for the timely and complete 
submission of the Annual Reporting requirements. The CDFI Fund reserves 
the right to contact the Recipient and additional entities or 
signatories to the Assistance Agreement to request additional 
information and documentation. The CDFI Fund will use such information 
to monitor each Recipient's compliance with the requirements in the 
Assistance Agreement and to assess the impact of the CDFI Program. 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 Recipients.
    2. Financial Management and Accounting: The CDFI Fund will require 
Recipients to maintain financial management and accounting systems that 
comply with Federal statutes, regulations, and the terms and conditions 
of the Federal award. These systems must be sufficient to permit the 
preparation of reports required by general and program specific terms 
and conditions, including the tracing of funds to a level of 
expenditures adequate to establish that such funds have been used 
according to the Federal statutes, regulations, and the terms and 
conditions of the Federal award.
    The cost principles used by Recipients must be consistent with 
Federal cost principles and support the accumulation of costs as 
required by the principles, and must provide for adequate documentation 
to support costs charged to the CDFI Program award. In addition, the 
CDFI Fund will require Recipients to: Maintain effective internal 
controls; comply with applicable statutes, regulations, and the 
Assistance Agreement; evaluate and monitor compliance; take action when 
not in compliance; and safeguard personally identifiable information.

VII. Agency Contacts

    A. The CDFI Fund will respond to questions concerning this NOFA and 
the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern 
Time, starting on the date that the NOFA is published through the date 
listed in Table 1 and Table 11. The CDFI Fund will post on its Web site 
responses to reoccurring questions received about this Application. 
Other information regarding the CDFI Fund and its programs may be 
obtained from the CDFI Fund's Web site at http://www.cdfifund.gov. 
Table 17 lists CDFI Fund contact information:

                                          Table 17--Contact Information
----------------------------------------------------------------------------------------------------------------
                                          Telephone number (not
           Type of question                     toll free)                        Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program..........................  202-653-0421, option 1...  [email protected].
Certification, Compliance Monitoring,   202-653-0423.............  [email protected].
 and Evaluation.
MyCDFI Fund--IT Help Desk.............  202-653-0422.............  [email protected].
----------------------------------------------------------------------------------------------------------------

    B. Information Technology Support: People who have visual or 
mobility impairments that prevent them from using the CDFI Fund's Web 
site should call (202) 653-0422 for assistance (this is not a toll free 
number).
    C. Communication with the CDFI Fund: The CDFI Fund will use contact 
information in MyCDFI Fund to communicate with Applicants and 
Recipients. It is imperative, therefore, that Applicants, Recipients, 
Subsidiaries, Affiliates, and signatories maintain accurate contact 
information in their accounts. This includes information such as 
contact names (especially for the authorized representative) listed in 
this NOFA's application materials, email addresses, fax and phone 
numbers, and office locations.
    D. Civil Rights and Diversity: Any person who is eligible to 
receive benefits or services from CDFI Fund or Recipients under any of 
its programs is entitled to those benefits or services without being 
subject to prohibited discrimination. The Department of the Treasury's 
Office of Civil Rights and Diversity enforces various Federal statutes 
and regulations that prohibit discrimination in financially assisted 
and conducted programs and activities of the CDFI Fund. If a person 
believes that s/he has been subjected to discrimination and/or reprisal 
because of membership in a protected group, s/he may file a complaint 
with: Associate Chief Human Capital Officer, Office of Civil Rights, 
and Diversity, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or 
(202) 622-1160 (not a toll-free number).

VIII. Other Information

    A. 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. If applicable, the CDFI Fund may inform Applicants that they do 
not need to provide certain Application information otherwise required. 
Pursuant to the Paperwork Reduction Act, the CDFI Program, and NACA 
Program Application has been assigned the following control number: 
1559-0021.
    B. Application Information Sessions: 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; 
2 CFR part 200.

    Dated: September 23, 2014.
Dennis Nolan,
Deputy Director, Community Development Financial Institutions Fund.
[FR Doc. 2014-23060 Filed 9-26-14; 8:45 am]
BILLING CODE 4810-70-P