[Federal Register Volume 82, Number 36 (Friday, February 24, 2017)]
[Notices]
[Pages 11693-11704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-03684]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability (NOFA) Inviting Applications for the 
Fiscal Year (FY) 2016 Funding Round of the Bank Enterprise Award 
Program (BEA Program)

    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2016-BEA.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
    Key Dates:

                      Table 1--FY 2016 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
                                                              Time (Eastern time--      Contact information &
            Description                     Deadline                   ET)                submission method
----------------------------------------------------------------------------------------------------------------
SF-424 Mandatory (Application for    April 5, 2017.........  11:59 p.m. ET.........  Electronically via
 Federal Assistance).                                                                 Grants.gov.
Last day to contact BEA Program      April 17, 2017........  5:00 p.m. ET..........  CDFI Fund Helpdesk: 202-653-
 Staff.                                                                               0421 or BEA AMIS Service
                                                                                      Request.\1\
Last day to contact Certification,   April 17, 2017........  5:00 p.m. ET..........  CCME Helpdesk: 202-653-0423
 Compliance Monitoring and                                                            or Compliance and
 Evaluation (CCME) staff.                                                             Reporting AMIS Service
                                                                                      Request.\2\
Last day to contact IT Help Desk...  April 19, 2017........  5:00 p.m. ET..........  CDFI Fund Helpdesk: 202-653-
                                                                                      0421 or IT AMIS Service
                                                                                      Request.\3\
FY 2016 BEA Program Application....  April 19, 2017........  5:00 pm ET............  Electronically via Awards
                                                                                      Management Information
                                                                                      System (AMIS).
----------------------------------------------------------------------------------------------------------------
\1\ For questions regarding completion of the BEA Application materials, the preferred electronic method of
  contact with the BEA Program Office is to submit a Service Request (SR) within AMIS. For the SR, select ``BEA
  Application'' for the record type.
\2\ For Compliance & Reporting related questions, the preferred electronic method of contact is to submit a
  Service Request (SR) within AMIS. For the SR, select ``General Inquiry'' for the record type, and select ``BEA-
  Compliance & Reporting'' for the type.
\3\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
  within AMIS. For the SR, select ``General Inquiry'' for the record type, and select ``Cross Program-AMIS
  technical problem'' for the type.

    Executive Summary: This NOFA is issued in connection with the 
fiscal year (FY) 2016 funding round of the Bank Enterprise Award 
Program (BEA Program). The BEA Program is administered by the U.S. 
Department of the Treasury's Community Development Financial 
Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund 
awards formula-based grants to depository institutions that are insured 
by the Federal Deposit Insurance Corporation (FDIC) for increasing 
their levels of loans, investments, service activities, and technical 
assistance within Distressed Communities, and financial assistance to 
Community Development Financial Institutions (CDFIs) through equity 
investments, equity-like loans, grants, stock purchases, loans, 
deposits, and other forms of financial and technical assistance, during 
a specified period.

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 $2 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 BEA Program, and the Capital 
Magnet Fund. In addition, the CDFI Fund has allocated $43 billion in 
tax credit allocation authority through the New Markets Tax Credit 
Program (NMTC Program) and has issued $1.1 billion in bond guarantees 
through the CDFI Bond Guarantee Program.
    The BEA Program complements the community development activities of 
banks and thrifts (collectively referred

[[Page 11694]]

to as banks for purposes of this Notice) by providing financial 
incentives to expand investments in CDFIs and to increase lending, 
investment, and service activities within Distressed Communities. 
Providing monetary awards to banks for increasing their community 
development activities leverages the CDFI Fund's dollars and puts more 
capital to work in Distressed Communities throughout the nation.
    B. Authorizing Statutes and Regulations: The BEA Program was 
authorized by the Bank Enterprise Award Act of 1991, as amended. The 
regulations governing the BEA Program can be found at 12 CFR part 1806 
(Interim Rule). The Interim Rule provides the evaluation criteria and 
other requirements of the BEA Program. Detailed BEA Program 
requirements are also found in the application materials associated 
with this NOFA (the Application). The CDFI Fund encourages interested 
parties and Applicants to review the Interim Rule, this NOFA, the 
Application, and the Uniform Administrative Requirements, Cost 
Principles, and Audit Requirements for Federal Awards (Uniform 
Requirements) for a complete understanding of the program. Capitalized 
terms in this NOFA are defined in the authorizing statute, the Interim 
Rule, this NOFA, the Application, and the Uniform Requirements. Details 
regarding Application content requirements are found in the Application 
and related materials. Application materials can be found on Grants.gov 
and the CDFI Fund's Web site at www.cdfifund.gov/bea.
    C. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR 200): The Uniform Administrative 
Requirements codify financial, administrative, procurement, and program 
management standards that Federal award-making agencies and Recipients 
must 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 audit findings. In 
addition, the Uniform Requirements include guidance on audit 
requirements and other award requirements with which Recipients must 
comply.
    D. Priorities: Through the BEA Program, the CDFI Fund specifies the 
following priorities:
    1. Estimated Award Amounts: The award percentage used to derive the 
estimated award amount for Applicants that are CDFIs is three times 
greater than the award percentage used to derive the estimated award 
amount for Applicants that are not CDFIs;
    2. Priority Factors: Priority Factors will be assigned based on 
Applicant's asset size, as described in Section V of this NOFA 
(``Application Review Information: Priority Factors''); and
    3. Priority of Awards: The CDFI Fund will rank Applicants in each 
category of Qualified Activity according to the priorities described in 
Section V of this NOFA (``Application Review Information: Award 
Percentages, Award Amounts, Application Review Process, Selection 
Process, Programmatic Financial Risk, and Application Rejection: 
Selection Process'').
    E. Baseline Period and Assessment Period Dates: A BEA Program Award 
is based on an Applicant's increase in Qualified Activities from the 
Baseline Period to the Assessment Period, as reported on an individual 
transaction basis in the Application. For the FY 2016 funding round, 
the Baseline Period is calendar year 2014 (January 1, 2014 through 
December 31, 2014), and the Assessment Period is calendar year 2015 
(January 1, 2015 through December 31, 2015).
    F. 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, or reallocate remaining 
funds to a future BEA Program funding round, 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: The CDFI Fund expects to award up to $19 
million in FY 2016 BEA Program Awards in appropriated funds under this 
NOFA. The CDFI Fund reserves the right to award in excess of said funds 
under this NOFA, provided that the appropriated funds are available. 
The CDFI Fund reserves the right to impose a minimum or maximum award 
amount; however, under no circumstances will an award be higher than $1 
million for any Recipient.
    B. Types of Awards: BEA Program Awards are made in the form of 
grants.
    C. Anticipated Start Date and Period of Performance: The CDFI Fund 
anticipates the period of performance for the FY 2016 Funding Round 
will begin in the Summer of calendar year 2017. Specifically, the 
period of performance begins with the Federal Award Date and will 
conclude at least one (1) full year after the Federal Award Date as 
further specified in the Award Agreement, during which the Recipient 
must meet the performance goals set forth in the Award Agreement.
    D. Eligible Activities: Eligible Activities for the BEA Program are 
referred to as Qualified Activities and are defined in the Interim Rule 
to include CDFI Related Activities, Distressed Community Financing 
Activities, and Service Activities (12 CFR 1806.103). It is the 
explicit policy of the CDFI Fund that BEA Program Awards may not be 
used by Recipients to recover overhead or indirect costs. Each of the 
Qualified Activities will be eligible for an associated direct cost 
rate of up to 15 percent of the BEA Program Award.
    CDFI Related Activities (12 CFR 1806.103) include Equity 
Investments, Equity-Like Loans, and CDFI Support Activities.
    Distressed Community Financing Activities (12 CFR 1806.103) include 
Affordable Housing Loans, Affordable Housing Development Loans and 
related Project Investments; Education Loans; Commercial Real Estate 
Loans and related Project Investments; Home Improvement Loans; Small 
Business Loans and related Project Investments, and Small Dollar 
Consumer Loans.
    Service Activities (12 CFR 1806.103) include Deposit Liabilities, 
Financial Services, Community Services, Targeted Financial Services, 
and Targeted Retail Savings/Investment Products.
    When calculating BEA Program Award amounts, the CDFI Fund will only 
consider the amount of a Qualified Activity that has been fully 
disbursed or, in the case of a partially disbursed Qualified Activity, 
will only consider the amount that an Applicant reasonably expects to 
disburse for a Qualified Activity within 12 months from the end of the 
Assessment Period. Subject to the requirements outlined in Section VI 
of this NOFA, in the case of Commercial Real Estate Loans and related 
Project Investments, the total principal amount of the transaction must 
be $10 million or less to be considered a Qualified Activity. 
Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, 
may consider transactions with a total principal value of over $10 
million, subject to review.

[[Page 11695]]

    An activity funded with prior BEA Program Award dollars, or funded 
to satisfy requirements of an Award Agreement from a prior award, shall 
not constitute a Qualified Activity for the purposes of calculating or 
receiving an award.
    A Distressed Community must meet certain minimum geographic area 
and eligibility requirements, which are defined in the Interim Rule at 
12 CFR 1806.103 and more fully described in 12 CFR 1806.401. Applicants 
should use the CDFI Fund's Information Mapping System (CIMS Mapping 
Tool) to determine whether a Baseline Period activity or Assessment 
Period activity is located in a qualified Distressed Community. The 
CIMS Mapping Tool can be accessed through AMIS or the CDFI Funds Web 
site at https://www.cdfifund.gov/Pages/mapping-system.aspx. The CIMS 
Mapping Tool contains step-by-step instructions on how to determine 
whether an activity is located in a qualified BEA Distressed Community. 
If you have any questions or problems with registering, please contact 
the CDFI Fund IT Help Desk by telephone at (202) 653-0300, by IT AMIS 
Service Request, or by email to [email protected]. Please note that a 
Distressed Community as defined by the BEA Program is not the same as 
an Investment Area as defined by the CDFI Program or a Low-Income 
Community as defined by the NMTC Program.
    1. Designation of Distressed Community by a CDFI Partner: CDFI 
Partners that receive CDFI Support Activities from an Applicant must be 
integrally involved in a Distressed Community. CDFI Support Activities 
include loans, Technical Assistance, or deposits provided to a CDFI 
Partner. Applicants must provide evidence that each CDFI Partner that 
is the recipient of CDFI Support Activities is integrally involved in a 
Distressed Community, as noted in the Application. CDFI Partners that 
receive Equity Investments, Equity-Like Loans or grants are not 
required to demonstrate Integral Involvement. Additional information on 
Integral Involvement can be found in Section V of this NOFA.
    2. Distressed Community Determination by a BEA Applicant: 
Applicants applying for a BEA Program Award for performing Distressed 
Community Financing Activities or Service Activities must verify that 
addresses of both Baseline Period and Assessment Period activities are 
in Distressed Communities when completing their Application.
    A BEA Applicant shall determine an area is a Distressed Community 
by:
    a. Selecting a census tract where the Qualified Activity occurred 
that meets the minimum area and eligibility requirements; or
    b. selecting the census tract where the Qualified Activity 
occurred, plus one or more census tracts directly contiguous to where 
the Qualified Activity occurred that when considered in the aggregate, 
meet the minimum area and eligibility requirements set forth in this 
section.
    E. Award Agreement: Each Recipient under this NOFA must sign an 
Award Agreement prior to disbursement by the CDFI Fund of the award 
proceeds. The Award Agreement contains the terms and conditions of the 
award. For further information, see Section VI of this NOFA.

III. Eligibility Information

    A. Eligible Applicants: For the purposes of this NOFA, the 
following table sets forth the eligibility criteria to receive an award 
from the CDFI Fund.

            Table 2--Eligibility Requirements for Applicants
------------------------------------------------------------------------
             Criteria                            Description
------------------------------------------------------------------------
Eligible Applicants...............  Eligible Applicants for the BEA
                                     Program must be Insured Depository
                                     Institutions, as defined in the
                                     Interim Rule. For the FY 2016
                                     funding round, an Applicant must be
                                     FDIC-insured as of December 31,
                                     2015 to be eligible for
                                     consideration for a BEA Program
                                     Award under this NOFA. The
                                     depository institution holding
                                     company of an Insured Depository
                                     Institution may not apply on behalf
                                     of an Insured Depository
                                     Institution. Applications received
                                     from depository institution holding
                                     companies will be disqualified.
CDFI Applicant....................  For the FY 2016 funding round, an
                                     eligible certified-CDFI Applicant
                                     is an Insured Depository
                                     Institution that was certified as a
                                     CDFI as of December 31, 2015 and
                                     that maintains its status as a
                                     certified CDFI at the time BEA
                                     Program Awards are announced under
                                     this NOFA. No CDFI Applicant may
                                     receive a FY 2016 BEA Program Award
                                     if it has: (1) An application
                                     pending for assistance under the FY
                                     2016 round of the CDFI Program; (2)
                                     been awarded assistance from the
                                     CDFI Fund under the CDFI Program
                                     within the 12-month period prior to
                                     the Federal Award Date of the FY
                                     2016 Award Agreement issued by the
                                     CDFI Program; or (3) ever received
                                     assistance under the CDFI Program
                                     for the same activities for which
                                     it is seeking a FY 2016 BEA Program
                                     Award. Please note that Applicants
                                     may apply for both a CDFI Program
                                     award and a BEA Program Award in FY
                                     2016; however, receiving a FY 2016
                                     CDFI Program award removes an
                                     Applicant from eligibility for a FY
                                     2016 BEA Program Award.
Debarment/Do Not Pay Verification.  The CDFI Fund will conduct a
                                     debarment check and will not
                                     consider an Application submitted
                                     by an Applicant if the Applicant is
                                     delinquent on any Federal debt. 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 Do Not Pay
                                     Business Center provides
                                     delinquency information to the CDFI
                                     Fund to assist with the debarment
                                     check.
------------------------------------------------------------------------

    B. Prior Award Recipients: The previous success of an Applicant in 
any of the CDFI Fund's programs will not be considered under this NOFA. 
Prior BEA Program Award Recipients and prior award recipients of other 
CDFI Fund programs are eligible to apply under this NOFA, except as 
noted in the following table:

[[Page 11696]]



    Table 3--Eligibility Requirements for Applicants Which Are Prior
                               Recipients
------------------------------------------------------------------------
             Criteria                            Description
------------------------------------------------------------------------
Pending resolution of               If an Applicant that is a prior
 noncompliance.                      recipient or allocatee under any
                                     CDFI Fund program: (i) Has
                                     submitted reports to the CDFI Fund
                                     that demonstrate noncompliance with
                                     a previous assistance agreement,
                                     award agreement, allocation
                                     agreement, bond loan agreement, or
                                     agreement to guarantee and (ii) the
                                     CDFI Fund has yet to make a final
                                     determination as to whether the
                                     entity is in default of its
                                     previous agreement, the CDFI Fund
                                     will consider the Applicant's
                                     Application under this NOFA pending
                                     full resolution, in the sole
                                     determination of the CDFI Fund, of
                                     the noncompliance.
Default status....................  The CDFI Fund will not consider an
                                     Application submitted by an
                                     Applicant that is a prior CDFI Fund
                                     award recipient or allocatee under
                                     any CDFI Fund program if, as of the
                                     applicable Application deadline of
                                     this NOFA, the CDFI Fund has made a
                                     final determination that such
                                     Applicant is in default of a
                                     previously executed assistance
                                     agreement, award agreement,
                                     allocation agreement, bond loan
                                     agreement, or agreement to
                                     guarantee.
                                    Such entities will be ineligible to
                                     apply for an Award pursuant to this
                                     NOFA so long as the Applicant's
                                     prior award or allocation remains
                                     in default status or such other
                                     time period as specified by the
                                     CDFI Fund in writing.
Undisbursed funds.................  For the purposes of this section,
                                     the term ``undisbursed funds'' is
                                     defined as: (i) In the case of
                                     prior BEA Program Award(s), any
                                     balance of award funds equal to or
                                     greater than five percent of the
                                     total prior BEA Program Award(s)
                                     that remains undisbursed more than
                                     three years after the end of the
                                     calendar year in which the CDFI
                                     Fund signed an Award Agreement with
                                     the Recipient, or (ii) in the case
                                     of prior CDFI Program or other CDFI
                                     Fund program award(s), any balance
                                     of award funds equal to or greater
                                     than five percent of the total
                                     prior award(s) that remains
                                     undisbursed more than two years
                                     after the end of the calendar year
                                     in which the CDFI Fund signed the
                                     applicable assistance agreement
                                     with the Recipient.
                                    The term ``undisbursed funds'' does
                                     not include (i) tax credit
                                     allocation authority allocated
                                     through the NMTC Program; (ii) any
                                     award funds for which the CDFI Fund
                                     received a full and complete
                                     disbursement request from the
                                     Recipient as of the Application
                                     deadline of this NOFA; (iii) an
                                     award that does not have a fully
                                     executed award agreement; or (iv)
                                     any award funds for an award that
                                     has been terminated, expired,
                                     rescinded, or de-obligated by the
                                     CDFI Fund.
                                    The CDFI Fund will not consider an
                                     Application submitted by an
                                     Applicant that is a prior CDFI Fund
                                     award recipient under any CDFI Fund
                                     program if the Applicant has a
                                     balance of undisbursed funds under
                                     said prior award(s), as of the
                                     Application deadline of this NOFA.
                                     Further, an entity is not eligible
                                     to apply for an Award pursuant to
                                     this NOFA if an affiliate of the
                                     Applicant is a prior CDFI Fund
                                     award recipient under any CDFI Fund
                                     program, and has a balance of
                                     undisbursed funds under said prior
                                     award(s), as of the Application
                                     deadline of this NOFA. In the case
                                     where an affiliate of the Applicant
                                     is a prior CDFI Fund award
                                     recipient under any CDFI Fund
                                     program, and has a balance of
                                     undisbursed funds under said prior
                                     award(s), as of the Application
                                     deadline of this NOFA, the CDFI
                                     Fund will include the combined
                                     awards of the Applicant and such
                                     affiliate when calculating the
                                     amount of undisbursed funds.
------------------------------------------------------------------------

    C. Contact the CDFI Fund: Accordingly, Applicants that are prior 
recipients and/or allocatees under any CDFI Fund program are advised 
to: (i) Comply with requirements specified in an assistance agreement, 
award agreement, allocation agreement, bond loan agreement, or 
agreement to guarantee; and (ii) contact the CDFI Fund to ensure that 
all necessary actions are underway for the disbursement of any 
outstanding balance of a prior award(s). An Applicant that is unsure 
about the disbursement status of any prior award should contact the 
CDFI Fund by sending an email to [email protected]. All 
outstanding reports and compliance questions should be directed to the 
Certification, Compliance Monitoring, and Evaluation helpdesk by 
submitting a Compliance and Reporting AMIS Service Request or by 
telephone at (202) 653-0423. The CDFI Fund will respond to Applicants' 
reporting, compliance, or disbursement questions between the hours of 
9:00 a.m. and 5:00 p.m. EST, starting on the date of the publication of 
this NOFA. The CDFI Fund will not respond to Applicants' reporting, 
compliance, or disbursement telephone calls or email inquiries that are 
received after 5:00 p.m. EST on April 17, 2017 until after the 
Application deadline. The CDFI Fund will respond to technical issues 
related to AMIS Accounts through 5:00 p.m. EST on April 19, 2017 via an 
IT AMIS Service Request, email at [email protected] or by telephone 
at (202) 653-0422.
    D. Cost sharing or matching fund requirements: Not applicable.

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/bea. 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 Application 
materials must be prepared using the English language and calculations 
must be made in U.S. dollars. Applicants must submit all materials 
described in and required by the Application by the applicable 
deadlines. Detailed Application content requirements including 
instructions related to the submission of the Grant Application Package 
in Grants.gov and the FY 2016 BEA Program Application in AMIS, the CDFI 
Fund's web-based portal, are provided in detail in the Application 
Instructions. Once an Application is submitted, the Applicant will not 
be allowed to change any element of the Application. 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.
    C. Application Submission: The CDFI Fund has a two-step submission 
process for BEA Applications that requires the submission of 
application documents in separate systems on different deadlines. The 
first step is the submission of the Grant Application Package which 
includes the SF-424 Mandatory Form, Application for Federal Assistance, 
in Grants.gov. The second step is to complete an FY 2016 BEA Program 
Application in AMIS. The deadline for

[[Page 11697]]

submitting the Grant Application Package in Grants.gov is 40 days after 
the publication of this NOFA. Applicants are encouraged to submit the 
Grant Application Package as early as possible to allow for sufficient 
time to resolve any submission issues. The CDFI Fund retrieves 
validated Grant Application Packages from Grants.gov on a daily basis 
and uses the DUNS number to match the SF-424 Mandatory with the correct 
AMIS account. Therefore, Applicants should make sure that the DUNS 
number included on the SF-424 Mandatory in the Grant Application 
Package matches the DUNS number in their AMIS account. Applicants are 
also highly encouraged to provide EIN, Authorized Representative and/or 
Contact Person information on the SF-424 Mandatory in the Grant 
Application Package that matches the information included in AMIS. 
Applicants are advised that it can take up to 48 hours for Grants.gov 
to validate a submitted Grant Application Package. The CDFI Fund will 
only retrieve validated Grant Application Packages from Grants.gov and 
it will take at least 24 hours from when CDFI Fund retrieves the 
validated Grant Application Package for it to appear in an Applicants 
AMIS account. Applicants can work on their FY 2016 BEA Program 
Application in AMIS at any time, however, they will not be able to 
submit the FY 2016 BEA Program Application in AMIS until the SF-424 
Mandatory is available in AMIS, and associated, by the Applicant, with 
the FY 2016 BEA Program Application. Therefore, the CDFI Fund 
recommends that Applicants allow for at least 24 hours from the time 
that the Grant Application Package has been validated by Grants.gov 
before attempting to submit their FY 2016 BEA Program Application in 
AMIS. This will ensure that the required SF-424 Mandatory is available 
in AMIS.
    D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to 
the Uniform Administrative 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 submit a Grant Application Package in Grants.gov. 
Applicants should allow sufficient time for Dun & Bradstreet to respond 
to inquiries and/or requests for DUNS numbers.
    E. System for Award Management (SAM): An active SAM account is 
required to submit the required Grant Application Package in 
Grants.gov. Any entity applying for Federal grants or other forms of 
Federal financial assistance through Grants.gov must be registered in 
SAM in order to submit an Application. The SAM registration process can 
take several weeks to complete. Applicants that have previously 
completed the SAM registration process must verify that their SAM 
accounts are current and active. Applicants are required to maintain a 
current and active SAM account at all times during which it has an 
active Federal award or an Application under consideration for an award 
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 deadline. 
Applicants must contact SAM directly with questions related to SAM 
registration or account changes as the CDFI Fund does not administer or 
maintain this system. For more information about SAM, please visit 
https://www.sam.gov.
    F. Grants.gov: Applicants must register with Grants.gov to submit a 
Grant Application Package. In order to register with Grants.gov, 
Applicants must have a DUNS number and be registered with SAM.gov. 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 submission process as the CDFI Fund does not 
administer or maintain this system.
    G. AMIS: All Applicants must complete a FY 2016 BEA Program 
Application in AMIS, the CDFI Fund's web-based portal. All Applicants 
must register User and Organization accounts in AMIS by the applicable 
Application deadline. Failure to register and complete a FY 2016 BEA 
Program Application in AMIS will result in the CDFI Fund being unable 
to accept the Application. As AMIS is the CDFI Fund's primary means of 
communication with Applicants and Recipients, institutions must make 
sure that they update their contact information in their AMIS accounts. 
In addition, the Applicant should ensure that the institution 
information (name, EIN, DUNS number, Authorized Representative, contact 
information, etc.) on the SF-424 Mandatory submitted as part of the 
Grant Application Package in Grants.gov matches the information in 
AMIS. EINs and DUNS numbers in the Applicant's SAM account must match 
those listed in AMIS. For more information on AMIS, please see the 
information available through the AMIS Home page at https://amis.cdfifund.gov/s/AMISHome. Qualified Activity documentation and 
other attachments as specified in the applicable BEA Program 
Application must also be submitted electronically via AMIS. Detailed 
instructions regarding submission of Qualified Activity documentation 
is provided in the Application Instructions. Applicants will not be 
allowed to submit missing Qualified Activity documentation after the 
Application deadline and Qualified Activity missing the required 
documentation will be disqualified. Qualified Activity documentation 
delivered by hard copy to the CDFI Fund's Washington, DC office address 
will be rejected, unless the Applicant previously requested a paper 
version of the Application as described in Section IV.A.
    H. Submission Dates and Times: The following table provides the 
critical deadlines for the FY 2016 BEA Funding Round. Applications and 
any other required documents or attachments received after an 
applicable deadline will be rejected. The document submission deadlines 
in this NOFA and the Application are strictly enforced. The CDFI Fund 
will not grant exceptions or waivers for late submissions except where 
the submission delay was a direct result of a Federal government 
administrative or technological error.

                  Table 4--FY 2016 BEA Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
             Description                       Deadline           Time (Eastern time)       Submission method
----------------------------------------------------------------------------------------------------------------
SF-424 Mandatory.....................  April 5, 2017..........  11:59 p.m. EST.........  Electronically via
                                                                                          Grants.gov.
FY 2016 BEA Program Application......  April 19, 2017.........  5:00 p.m. EST..........  Electronically via
                                                                                          AMIS.
----------------------------------------------------------------------------------------------------------------


[[Page 11698]]

    1. Confirmation of Application Submission: Applicants may verify 
that their Grant Application Package was successfully submitted in 
Grants.gov and that their FY 2016 BEA Program Application was 
successfully submitted in AMIS. Applicants should note that the Grant 
Application Package has a different deadline than the FY 2016 BEA 
Program Application. These deadlines are provided above in Table 4. FY 
2016 BEA Program Funding Round Critical Deadlines for Applicants. If 
the Grant Application Package is not successfully submitted and 
subsequently validated by Grants.gov by the deadline, the CDFI Fund 
will not review the FY 2016 BEA Program Application or any of the 
application related material submitted in AMIS and the Application will 
be deemed ineligible.
    a. Grants.gov: Each Applicant will receive an email from Grants.gov 
immediately after the Grant Application Package is submitted confirming 
that the submission has entered the Grants.gov system. This email will 
contain a tracking number. Within 48 hours, the Applicant will receive 
a second email which will indicate if the submitted Grant Application 
Package was successfully validated or rejected with errors. However, 
Applicants should not rely on the second email notification from 
Grants.gov to confirm that the Grant Application Package was validated. 
Applicants are strongly encouraged to use the tracking number provided 
in the first email to closely monitor the status of their Grant 
Application Package. The Grant Application Package cannot be accepted 
by the CDFI Fund until Grants.gov has validated it.
    b. AMIS: Applicants will not receive an email confirming that their 
FY 2016 BEA Program Application was successfully submitted in AMIS. 
Instead, Applicants should check their AMIS account to ensure that the 
status of the FY 2016 BEA Program Application is ``Under Review.'' 
Step-by-step instructions for submitting an FY 2016 BEA Program 
Application in AMIS are provided in the Application Instructions and 
Supplemental Guidance materials.
    2. Multiple Application Submissions: If an Applicant submits 
multiple versions of its Grant Application Package in Grants.gov, the 
Applicant can only associate one with its FY 2016 BEA Program 
Application in AMIS.
    3. 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 applicable 
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.''
    I. Funding Restrictions: BEA Program Awards are limited by the 
following:
    1. The Recipient shall use BEA Program Award funds only for the 
eligible activities described in Section II.D. of this NOFA and its 
Award Agreement.
    2. The Recipient may not distribute BEA Program Award funds to an 
affiliate, Subsidiary, or any other entity, without the CDFI Fund's 
prior written approval.
    3. BEA Program Award funds shall only be disbursed to the 
Recipient.
    4. The CDFI Fund, in its sole discretion, may disburse BEA Program 
Award funds in amounts, or under terms and conditions, which are 
different from those requested by an Applicant.
    J. Other Submission Requirements: None.

V. Application Review Information

    A. Criteria: If the Applicant 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 
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.
    1. CDFI Related Activities: CDFI Related Activities include Equity 
Investments, Equity-Like Loans, and CDFI Support Activities provided to 
eligible CDFI Partners.
    2. Eligible CDFI Partner: CDFI Partner is defined as a certified 
CDFI that has been provided assistance in the form of CDFI Related 
Activities by an unaffiliated Applicant (12 CFR 1806.103). For the 
purposes of this NOFA, an eligible CDFI Partner must have been 
certified as a CDFI as of the end of the applicable Assessment Period 
and be Integrally Involved in a Distressed Community.
    3. Integrally Involved: Integrally Involved is defined at 12 CFR 
1806.103. For purposes of this NOFA, for a CDFI Partner to be deemed to 
be Integrally Involved, it must have: (i) Provided at least 10 percent 
of financial transactions or dollars transacted (e.g., loans or Equity 
Investments), or 10 percent of Development Service Activities (as 
defined in 12 CFR 1805.104), in one or more Distressed Communities 
identified by the Applicant or the CDFI Partner, as applicable, in each 
of the three calendar years preceding the date of this NOFA; (ii) 
transacted at least 25 percent of financial transactions (e.g., loans 
or equity investments) in one or more Distressed Communities in at 
least one of the three calendar years preceding the date of this NOFA; 
or (iii) demonstrated that it has attained at least 10 percent of 
market share for a particular financial product in one or more 
Distressed Communities (such as home mortgages originated in one or 
more Distressed Communities) in at least one of the three calendar 
years preceding the date of this NOFA.
    4. Limitations on eligible Qualified Activities provided to certain 
CDFI Partners: A CDFI Applicant cannot receive credit for any financial 
assistance or Qualified Activities provided to a CDFI Partner that is 
also an FDIC-insured depository institution or depository institution 
holding company.
    5. Certificates of Deposit: Section 1806.103 of the Interim Rule 
states that any certificate of deposit (CD) placed by an Applicant or 
its Subsidiary in a CDFI Partner that is a bank, thrift, or credit 
union must be: (i) Uninsured and committed for at least three years; or 
(ii) insured, committed for a term of at least three years, and 
provided at an interest rate that is materially below market rates, in 
the determination of the CDFI Fund.
    a. For purposes of this NOFA, ``materially below market interest 
rate'' is defined as an annual percentage rate that does not exceed 100 
percent of yields on Treasury securities at constant maturity as 
interpolated by Treasury from the daily yield curve and available on 
the Treasury Web site at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml. For example, for a three-year CD, 
Applicants should use the three-year rate U.S. Government securities, 
Treasury Yield Curve Rate posted for that business day. The Treasury 
updates the Web site daily at approximately 5:30 p.m. ET. CDs placed 
prior to that time may use the rate

[[Page 11699]]

posted for the previous business day. The annual percentage rate on a 
CD should be compounded daily, quarterly, semi-annually, or annually. 
If a variable interest rate is used, the CD must also have an interest 
rate that is materially below the market interest rate over the life of 
the CD, in the determination of the CDFI Fund.
    b. For purposes of this NOFA, a deposit placed by an Applicant 
directly with a CDFI Partner that participates in a deposit network or 
service may be treated as eligible under this NOFA if it otherwise 
meets the criteria for deposits in 1806.103 and the CDFI Partner 
retains the full amount of the initial deposit or an amount equivalent 
to the full amount of the initial deposit through a deposit network 
exchange transaction.
    6. Equity Investment: An Equity Investment means financial 
assistance provided by an Applicant or its Subsidiary to a CDFI, which 
CDFI meets such criteria as set forth in this applicable NOFA, in the 
form of a grant, a stock purchase, a purchase of a partnership 
interest, a purchase of a limited liability company membership 
interest, or any other investment deemed to be an Equity Investment by 
the CDFI Fund;
    7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an 
Applicant or its Subsidiary to a CDFI, and made on such terms that it 
has characteristics of an Equity Investment, as such characteristics 
may be specified by the CDFI Fund (12 CFR 1806.103). For purposes of 
this NOFA, an Equity-Like Loan must meet the following characteristics:
    a. At the end of the initial term, the loan must have a definite 
rolling maturity date that is automatically extended on an annual basis 
if the CDFI borrower continues to be financially sound and carry out a 
community development mission;
    b. Periodic payments of interest and/or principal may only be made 
out of the CDFI borrower's available cash flow after satisfying all 
other obligations;
    c. Failure to pay principal or interest (except at maturity) will 
not automatically result in a default of the loan agreement; and
    d. The loan must be subordinated to all other debt except for other 
Equity-Like Loans.
    Notwithstanding the foregoing, the CDFI Fund reserves the right to 
determine, in its sole discretion and on a case-by-case basis, whether 
an instrument meets the above-stated characteristics of an Equity-Like 
Loan.
    8. CDFI Support Activity: A CDFI Support Activity is defined as 
assistance provided by an Applicant or its Subsidiary to a CDFI that is 
Integrally Involved in a Distressed Community, in the form of a loan, 
Technical Assistance, or deposits.
    9. CDFI Program Matching Funds: Equity Investments, Equity-Like 
Loans, and CDFI Support Activities (except Technical Assistance) 
provided by a BEA Applicant to a CDFI and used by the CDFI for matching 
funds under the CDFI Program are eligible as a Qualified Activity under 
the CDFI Related Activity category.
    10. Commercial Loans and Investments: Commercial Loans and 
Investments is a sub-category of Distressed Community Financing 
Activities and is defined as the following lending activity types: 
Affordable Housing Development Loans and related Project Investments; 
Small Business Loans and related Project Investments; and Commercial 
Real Estate Loans and related Project Investments.
    11. Consumer Loans: Consumer Loans is a sub-category of Distressed 
Community Financing Activities and is defined as the following lending 
activity types: Affordable Housing Loans; Education Loans; Home 
Improvement Loans; and Small Dollar Consumer Loans.
    12. Distressed Community Financing Activities and Service 
Activities: Distressed Community Financing Activities comply with 
consumer protection laws and are defined as (1) Consumer Loans; or (2) 
Commercial Loans and Investments. In addition to the requirements set 
forth in the Interim Rule, this NOFA provides the following additional 
requirements:
    a. Commercial Real Estate Loans and related Project Investments: 
For purposes of this NOFA, eligible Commercial Real Estate Loans (12 
CFR 1806.103) and related Project Investments (12 CFR 1806.103) are 
generally limited to transactions with a total principal value of $10 
million or less. Notwithstanding the foregoing, the CDFI Fund, in its 
sole discretion, may consider transactions with a total principal value 
of over $10 million, subject to review. For such transactions, 
Applicants must provide a separate narrative, or other information, to 
demonstrate that the proposed project offers, or significantly enhances 
the quality of, a facility or service not currently provided to the 
Distressed Community.
    b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible 
Small Dollar Consumer Loans are affordable loans that serve as 
available alternatives to the marketplace for individuals who are 
Eligible Residents with a total principal value between $500 and $5,000 
and have a term of ninety (90) days or more.
    c. Low- and Moderate-Income residents: For the purposes of this 
NOFA, Low- income means borrower income that does not exceed 80 percent 
of the area median income, and Moderate-Income means borrower income 
may be 81 percent to no more than 120 percent of the area median 
income, according to the U.S. Census Bureau data.
    13. Reporting Certain Financial Services: The CDFI Fund will value 
the administrative cost of providing certain Financial Services using 
the following per unit values:
    a. $100.00 per account for Targeted Financial Services including 
safe transaction accounts, youth transaction accounts, Electronic 
Transfer Accounts and Individual Development Accounts;
    b. $50.00 per account for checking and savings accounts that do not 
meet the definition of Targeted Financial Services;
    c. $5.00 per check cashing transaction;
    d. $50,000 per new ATM installed at a location in a Distressed 
Community;
    e. $500,000 per new retail bank branch office opened in a 
Distressed Community, including school-based bank branches approved by 
the Applicant's Federal bank regulator; and
    f. In the case of Applicants engaging in Financial Services 
activities not described above, the CDFI Fund will determine the unit 
value of such services.
    g. When reporting the opening of a new retail bank branch office, 
the Applicant must certify that such new branch will remain in 
operation for at least the next five years.
    h. Financial Service Activities must be provided by the Applicant 
to Eligible Residents or enterprises that are located in a Distressed 
Community. An Applicant may determine the number of Eligible Residents 
who are recipients of Financial Services by either: (i) Collecting the 
addresses of its Financial Services customers, or (ii) certifying that 
the Applicant reasonably believes that such customers are Eligible 
Residents or enterprises located in a Distressed Community and 
providing a brief analytical narrative with information describing how 
the Applicant made this determination. Citations must be provided for 
external sources. In addition, if external sources are referenced in 
the narrative, the Applicant must explain how it reached the conclusion 
that the cited references are directly related to the Eligible

[[Page 11700]]

Residents or enterprises to whom it is claiming to have provided the 
Financial Services.
    i. When reporting changes in the dollar amount of deposit accounts, 
only calculate the net change in the total dollar amount of eligible 
Deposit Liabilities between the Baseline Period and the Assessment 
Period. Do not report each individual deposit. If the net change 
between the Baseline Period and Assessment Period is a negative dollar 
amount, then a negative dollar amount may be recorded for Deposit 
Liabilities only. Instructions for determining the net change is 
available in the Supplemental Guidance to the FY 2016 BEA Program 
Application.
    14. Priority Factors: Priority Factors are the numeric values 
assigned to individual types of activity within: (i) The Distressed 
Community Financing, and (ii) Services categories of Qualified 
Activities. For the purposes of this NOFA, Priority Factors will be 
based on the Applicant's asset size as of the end of the Assessment 
Period (December 31, 2015) as reported by the Applicant in the 
Application. Asset size classes (i.e., small institutions, 
intermediate-small institutions, and large institutions) will 
correspond to the Community Reinvestment Act (CRA) asset size classes 
set by the three Federal bank regulatory agencies and that were 
effective as of the end of the Assessment Period. The Priority Factor 
works by multiplying the change in a Qualified Activity by the assigned 
Priority Factor to achieve a ``weighted value.'' This weighted value of 
the change would be multiplied by the applicable Award percentage to 
yield the Award amount for that particular activity. For purposes of 
this NOFA, the CDFI Fund is establishing Priority Factors based on 
Applicant asset size to be applied to all activity within the 
Distressed Community Financing Activities and Service Activities 
categories only, as follows:

                 Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
                                                             Priority
                                                              factor
------------------------------------------------------------------------
Small institutions (assets of less than $305 million as              5.0
 of 12/31/2015).........................................
Intermediate--small institutions (assets of at least                 3.0
 $305 million but less than $1.221 billion as of 12/31/
 2015)..................................................
Large institutions (assets of $1.221 billion or greater              1.0
 as of 12/31/2015)......................................
------------------------------------------------------------------------

    15. Certain Limitations on Qualified Activities:
    a. Low-Income Housing Tax Credits: Financial assistance provided by 
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the 
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute 
an Equity Investment, Project Investment, or other Qualified Activity, 
for the purposes of calculating or receiving a BEA Program Award.
    b. New Markets Tax Credits: Financial assistance provided by an 
Applicant for which the Applicant receives benefits as an investor in a 
Community Development Entity that has received an allocation of New 
Markets Tax Credits, authorized pursuant to Section 45D of the Internal 
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an 
Equity Investment, Project Investment, or other Qualified Activity, for 
the purposes of calculating or receiving a BEA Program Award. Leverage 
loans used in New Markets Tax Credit structured transactions that meet 
the requirements outlined in this NOFA are considered Distressed 
Community Financing Activities.
    c. Loan Renewals and Refinances: Financial assistance provided by 
an Applicant shall not constitute a Qualified Activity, as defined in 
this part, for the purposes of calculating or receiving a BEA Program 
Award if such financial assistance consists of a loan to a borrower 
that has matured and is then renewed by the Applicant, or consists of a 
loan to a borrower that is retired or restructured using the proceeds 
of a new commitment by the Applicant. Payoff of a separate third party 
obligation will only be considered a Qualified Activity if the payoff 
of a transaction is part of the sale of property or business to an 
unaffiliated party to the borrower. Applicants should include a 
narrative statement to describe any such transactions. Otherwise the 
transaction will be disqualified.
    d. Certain Business Types: Financial assistance provided by an 
Applicant shall not constitute a Qualified Activity, as defined in this 
part, for the purposes of financing the following business types: Golf 
courses, race tracks, gambling facilities, country clubs, massage 
parlors, hot tub facilities, suntan facilities, or stores where the 
principal business is the sale of alcoholic beverages for consumption 
off premises.
    e. Prior BEA Program Awards: Qualified Activities funded with prior 
funding round BEA Program Award dollars or funded to satisfy 
requirements of the BEA Program Award Agreement shall not constitute a 
Qualified Activity for the purposes of calculating or receiving a BEA 
Program Award.
    f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA 
Program Award for activities funded by another CDFI Fund program or 
Federal program.
    16. Award Percentages, Award Amounts, Application Review Process, 
Selection Process, Programmatic and Financial Risk, and Application 
Rejection: The Interim Rule and this NOFA describe the process for 
selecting Applicants to receive a BEA Program Award and determining 
Award amounts.
    a. Award percentages: In the CDFI Related Activities category 
(except for an Equity Investment or Equity-Like Loan), for CDFI 
Applicants, the estimated award amount will be equal to 18 percent of 
the increase in Qualified Activity for the category. If an Applicant is 
not a CDFI Applicant, the estimated award amount will be equal to 6 
percent of the increase in Qualified Activity for the category. 
Notwithstanding the foregoing, for a CDFI Applicant and for an 
Applicant that is not a CDFI Applicant, the award percentage applicable 
to an Equity Investment, Equity-Like Loan, or grant in a CDFI shall be 
15 percent of the increase in Qualified Activity for the category.
    In Distressed Community Financing Activities' subcategory of 
Consumer Lending, for a CDFI Applicant, the estimated award amount will 
be 18 percent of the weighted value of the increase in this subcategory 
of Qualified Activity. If an Applicant is not a CDFI Applicant, the 
estimated award amount will be equal to 6 percent of the weighted value 
of the increase in Qualified Activity for this subcategory.
    In Distressed Community Financing Activities' subcategory of 
Commercial Lending and Investments, for a CDFI Applicant, the estimated 
award amount will be 9 percent of the weighted value of the increase in 
this subcategory of

[[Page 11701]]

Qualified Activity. If an Applicant is not a CDFI Applicant, the 
estimated award amount will be equal to 3 percent of the weighted value 
of the increase in Qualified Activity for this subcategory.
    In Service Activities category, for a CDFI Applicant, the estimated 
award amount will be equal to 9 percent of the weighted value of the 
increase in Qualified Activity for the category. If an Applicant is not 
a CDFI Applicant, the estimated award amount will be equal to 3 percent 
of the weighted value of the increase in Qualified Activity for the 
category.
    b. Award Amounts: An Applicant's estimated award amount will be 
calculated in accordance with a multi-step procedure that is outlined 
in the Interim Rule (at 12 CFR 1806.403). As outlined in the Interim 
Rule at 12 CFR 1806.404, the CDFI Fund will determine actual Award 
amounts based on the availability of funds, increases in Qualified 
Activities from the Baseline Period to the Assessment Period, and the 
priority ranking of each Applicant. In calculating the increase in 
Qualified Activities, the CDFI Fund will determine the eligibility of 
each transaction for which an Applicant has applied for a BEA Program 
Award. In some cases, the actual award amount calculated by the CDFI 
Fund may not be the same as the estimated award amount requested by the 
Applicant.
    For purposes of calculating award disbursement amounts, the CDFI 
Fund will treat Qualified Activities with a total principal amount less 
than or equal to $250,000 as fully disbursed. For all other Qualified 
Activities, Recipients will have 12 months from the end of the 
Assessment Period to make disbursements and 18 months from the end of 
the Assessment Period to submit to the CDFI Fund disbursement requests 
for the corresponding portion of their awards, after which the CDFI 
Fund will rescind and de-obligate any outstanding award balance and 
said outstanding award balance will no longer be available to the 
Recipient.
    B. Review and Selection Process:
    1. Application Review Process: All Applications will be initially 
evaluated by external non-Federal reviewers. Reviewers are selected 
based on their experience in understanding various financial 
transactions, reading and interpreting financial documentation, strong 
written communication skills, and strong mathematical skills. 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.
    2. Selection Process: If the amount of funds available during the 
funding round is insufficient for all estimated Award amounts, 
Recipients will be selected based on the process described in the 
Interim Rule at 12 CFR 1806.404. This process gives funding priority to 
Applicants that undertake activities in the following order: (i) CDFI 
Related Activities, (ii) Distressed Community Financing Activities, and 
(iii) Service Activities, as described in the Interim Rule at 12 CFR 
1806.404(c).
    Within each category, CDFI Applicants will be ranked first 
according to the ratio of the actual award amount calculated by the 
CDFI Fund for the category to the total assets of the Applicant, 
followed by Applicants that are not CDFI Applicants according to the 
ratio of the actual award amount calculated by the CDFI Fund for the 
category to the total assets of the Applicant. Selections within each 
priority category will be based on the Applicants' relative rankings 
within each such category, subject to the availability of funds and any 
established maximum dollar amount of total awards that may be awarded 
for the Distressed Community Financing Activities category of Qualified 
Activities, as determined by the CDFI Fund.
    The CDFI Fund, in its sole discretion: (i) May adjust the estimated 
award amount that an Applicant may receive; (ii) may establish a 
maximum amount that may be awarded to an Applicant; and (iii) reserves 
the right to limit the amount of an award to any Applicant if the CDFI 
Fund deems it appropriate.
    The CDFI Fund reserves the right to contact the Applicant to 
confirm or clarify information. If contacted, the Applicant must 
respond within the CDFI Fund's time parameters or run the risk of 
having its Application rejected.
    The CDFI Fund reserves the right to change its eligibility and 
evaluation criteria and procedures. If those changes materially affect 
the CDFI Fund's award decisions, the CDFI Fund will provide information 
regarding the changes through the CDFI Fund's Web site.
    3. Programmatic and Financial Risk: The CDFI Fund will consider 
safety and soundness information from the appropriate Federal bank 
regulatory agency as defined in Section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank 
regulatory agency identifies safety and soundness concerns, the CDFI 
Fund will assess whether the concerns cause or will cause the Applicant 
to be incapable of completing the activities for which funding has been 
requested. The CDFI Fund will not approve a BEA Program Award under any 
circumstances for an Applicant if the appropriate Federal bank 
regulatory agency indicates that the Applicant received a composite 
rating of ``5'' on its most recent examination, performed in accordance 
with the Uniform Financial Institutions Rating System.
    Furthermore, the CDFI Fund will not approve a BEA Program Award for 
the following reasons if at the time of application, or during the CDFI 
Fund's evaluation of the application, the Applicant received any of the 
following:
    a. A CRA assessment rating of below ``Satisfactory'' on its most 
recent examination;
    b. a going concern opinion on its most recent audit;
    c. a Prompt Corrective Action directive from its regulator.
    Applicants and/or their appropriate Federal bank regulator agency 
may be contacted by the CDFI Fund to provide additional information 
related to Federal bank regulatory or CRA information. The CDFI Fund 
will consider this information and may choose to disapprove a BEA 
Program Award for an Applicant if the information indicates that the 
Applicant may be unable to responsibly manage, re-invest, and/or report 
on a BEA Program Award during the performance period.
    4. 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 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. There is no right to appeal the CDFI Fund's award 
decisions. The CDFI Fund's award decisions are final. The CDFI Fund 
will not discuss the specifics of an Applicant's FY 2016 BEA Program 
Application or provide reasons why an Applicant was not selected to 
receive a BEA Program Award. The CDFI Fund will only respond to general 
questions regarding the FY 2016 BEA Program Application and award 
decision process until 30 days after the award announcement date.
    C. Anticipated Announcement and Federal Award Dates: The CDFI Fund 
anticipates making its FY 2016 BEA Program award announcement in the 
Summer of 2017. The Federal Award

[[Page 11702]]

Date shall be the date that the CDFI Fund executes the Award Agreement.

VI. Federal Award Administration Information

    A. Federal Award Notices: The CDFI Fund will notify an Applicant of 
its selection as a Recipient by delivering a notification or letter. 
The Award Agreement will contain the general terms and conditions 
governing the CDFI Fund's provision of an Award. The Award Recipient 
will receive a copy of the Award Agreement via AMIS. The Recipient is 
required to sign the Award Agreement via an electronic signature in 
AMIS. The CDFI Fund will subsequently execute the Award Agreement. Each 
Recipient must also ensure that complete and accurate banking 
information is reflected in its SAM account at www.sam.gov in order to 
receive its award disbursement.
    B. Administrative and National Policy Requirements: If, prior to 
entering into an Award Agreement, information (including an 
administrative error) comes to the CDFI Fund's attention that adversely 
affects: The Recipient's eligibility for an award; the CDFI Fund's 
evaluation of the Application; the Recipient's compliance with any 
requirement listed in the Uniform 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 other actions as it deems appropriate.
    If the Recipient's certification status as a CDFI changes, the CDFI 
Fund reserves the right, in its sole discretion, to re-calculate the 
award, and modify the Award Agreement based on the Recipient's non-CDFI 
status.
    By executing an Award Agreement, the Recipient agrees that, if the 
CDFI Fund becomes aware of any information (including an administrative 
error) prior to the effective date of the Award Agreement that either 
adversely affects the Recipient's eligibility for an award, or 
adversely affects the CDFI Fund's evaluation of the Recipient's 
Application, or indicates fraud or mismanagement on the part of the 
Recipient, the CDFI Fund may, in its discretion and without advance 
notice to the Recipient, terminate the Award Agreement or take 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 Award 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 Award Agreement and the award 
made under this NOFA for any criteria described in the following table:

   Table 6--Criteria That May Result in Award Termination Prior to the
                     Execution of an Award Agreement
------------------------------------------------------------------------
             Criteria                            Description
------------------------------------------------------------------------
Failure to meet reporting           If an Applicant, is a prior CDFI
 requirements.                       Fund Recipient or allocatee under
                                     any CDFI Fund program and is not
                                     current on the reporting
                                     requirements set forth in the
                                     previously executed assistance,
                                     award, allocation, bond loan
                                     agreement(s), or agreement to
                                     guaranty, the CDFI Fund reserves
                                     the right, in its sole discretion,
                                     to delay entering into an Award
                                     Agreement and/or to delay making a
                                     disbursement of Award proceeds,
                                     until said prior Recipient or
                                     allocatee is current on the
                                     reporting requirements in the
                                     previously executed assistance,
                                     award, allocation, bond loan
                                     agreement(s), or agreement to
                                     guaranty. Please note that
                                     automated systems employed by the
                                     CDFI Fund for receipt of reports
                                     submitted electronically typically
                                     acknowledge only a report's
                                     receipt; such acknowledgment does
                                     not warrant that the report
                                     received was complete and therefore
                                     met reporting requirements. If said
                                     prior Recipient or allocatee is
                                     unable to meet this requirement
                                     within the timeframe set by the
                                     CDFI Fund, the CDFI Fund reserves
                                     the right, in its sole discretion,
                                     to terminate and rescind the award
                                     made under this NOFA.
Pending resolution of               If, at any time prior to entering
 noncompliance.                      into an Award Agreement under this
                                     NOFA, an Applicant that is a prior
                                     CDFI Fund Recipient or allocatee
                                     under any CDFI Fund program: (i)
                                     Has submitted reports to the CDFI
                                     Fund that demonstrate noncompliance
                                     with a previous assistance, award,
                                     or allocation agreement, but (ii)
                                     the CDFI Fund has yet to make a
                                     final determination regarding
                                     whether or not the entity is in
                                     default of its previous assistance,
                                     award, allocation, bond loan
                                     agreement, or agreement to
                                     guarantee, the CDFI Fund reserves
                                     the right, in its sole discretion,
                                     to delay entering into an Award
                                     Agreement and/or to delay making a
                                     disbursement of award proceeds,
                                     pending full resolution, in the
                                     sole determination of the CDFI
                                     Fund, of the noncompliance. If said
                                     prior Recipient or allocatee is
                                     unable to meet this requirement, in
                                     the sole determination of the CDFI
                                     Fund, the CDFI Fund reserves the
                                     right, in its sole discretion, to
                                     terminate and rescind the award
                                     made under this NOFA.
Default status....................  If prior to entering into an Award
                                     Agreement under this NOFA: (i) The
                                     CDFI Fund has made a final
                                     determination that an Applicant
                                     that is a prior CDFI Fund Recipient
                                     or allocatee under any CDFI Fund
                                     program whose award or allocation
                                     terminated in default of such prior
                                     agreement; (ii) the CDFI Fund has
                                     provided written notification of
                                     such determination to such
                                     organization; and (iii) the
                                     anticipated date for entering into
                                     the Award Agreement under this NOFA
                                     is within a period of time
                                     specified in such notification
                                     throughout which any new award,
                                     allocation, assistance, bond loan
                                     agreement(s), or agreement to
                                     guarantee is prohibited, the CDFI
                                     Fund reserves the right, in its
                                     sole discretion, to terminate and
                                     rescind the Award Agreement and the
                                     award made under this NOFA.
Compliance with Federal civil       If prior to entering into an Award
 rights requirements.                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 ineligible to be a
                                     Recipient per the Do Not Pay
                                     database.

[[Page 11703]]

 
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 Award
                                     Agreement.
------------------------------------------------------------------------

    C. Award Agreement: After the CDFI Fund selects a Recipient, unless 
an exception detailed in this NOFA applies, the CDFI Fund and the 
Recipient will enter into an Award Agreement. The Award Agreement will 
set forth certain required terms and conditions of the award, which 
will include, but not be limited to: (i) The amount of the award; (ii) 
the type of the award; (iii) the approved uses of the award; (iv) the 
performance goals and measures; (v) the performance periods; and (vi) 
the reporting requirements. The Award Agreement shall provide that a 
Recipient shall: (i) Carry out its Qualified Activities in accordance 
with applicable law, the approved Application, and all other applicable 
requirements; (ii) not receive any disbursement of award dollars until 
the CDFI Fund has determined that the Recipient has fulfilled all 
applicable requirements; and (iii) use the BEA Program Award amount for 
Qualified Activities.
    D. Reporting: Through this NOFA, the CDFI Fund will require each 
Recipient to account for and report to the CDFI Fund on the use of the 
award. This will require Recipients to establish administrative 
controls, subject to applicable OMB Circulars. The CDFI Fund will 
collect information from each such Recipient on its use of the award at 
least once following the award and more often if deemed appropriate by 
the CDFI Fund in its sole discretion. The CDFI Fund will provide 
guidance to Recipients outlining the format and content of the 
information required to be provided to describe how the funds were 
used.
    The CDFI Fund may collect information from each Recipient 
including, but not limited to, an Annual Report with the following 
components:

                     Table 7--Reporting Requirements
------------------------------------------------------------------------
             Criteria                            Description
------------------------------------------------------------------------
Single Audit Narrative Report (or   For each year of its performance
 like report).                       period, the Recipient, must answer
                                     in the Financial Report section in
                                     AMIS, as to whether it is required
                                     to have a single audit pursuant to
                                     OMB Single Audit requirements.
Single Audit (if applicable) (or    A Recipient that is a non-profit
 similar report).                    entity that expends $750,000 or
                                     more in Federal awards during its
                                     fiscal year must have a single
                                     audit conducted for that year.
                                    If a Recipient is required to
                                     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.
Use of BEA Program Award Report...  Recipients must submit the Use of
                                     Award report to the CDFI Fund via
                                     AMIS.
Explanation of Noncompliance (as    If the Recipient fails to meet a
 applicable) or successor report.    Performance Goal or reporting
                                     requirement, it must submit the
                                     Explanation of Noncompliance via
                                     AMIS.
------------------------------------------------------------------------

    Each Recipient is responsible for the timely and complete 
submission of the reporting requirements. The CDFI Fund reserves the 
right to contact the Recipient to request additional information and 
documentation. The CDFI Fund will use such information to monitor each 
Recipient's compliance with the requirements in the Award Agreement and 
to assess the impact of the BEA 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 has been 
provided to Recipients.
    E. 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 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 award. Each of the Qualified Activities categories 
will be ineligible for indirect costs and an associated indirect cost 
rate. 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 BEA Program Award. In addition, the 
CDFI Fund will require Recipients to: Maintain effective internal 
controls; comply with applicable statutes, regulations, and the Award 
Agreement; evaluate and monitor compliance; take action when not in 
compliance; and safeguard personally identifiable information.

VII. Federal Awarding Agency Contacts

    A. Questions Related to Application and Prior Recipient Reporting, 
Compliance and Disbursements: The CDFI Fund will respond to questions 
concerning this NOFA, the Application and reporting, compliance, or 
disbursements between the hours of 9:00 a.m. and 5:00 p.m. Eastern 
Time, starting on the date that this NOFA is published through the date 
listed in Table 1. The CDFI Fund will post responses to frequently 
asked questions in a separate document on its Web site. Other 
information regarding the CDFI Fund and its programs may be obtained 
from the CDFI Fund's Web site at http://www.cdfifund.gov.
    The following table lists CDFI Fund contact information:

[[Page 11704]]



                      Table 8--Contact Information
------------------------------------------------------------------------
                                   Telephone number   Electronic contact
        Type of question           (not toll free)          method
------------------------------------------------------------------------
BEA Program.....................       202-653-0421  BEA AMIS Service
                                                      Request.
Certification, Compliance              202-653-0423  Compliance and
 Monitoring, and Evaluation.                          Reporting AMIS
                                                      Service Request.
AMIS--IT Help Desk..............       202-653-0422  IT AMIS Service
                                                      Request.
------------------------------------------------------------------------

    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 its 
AMIS Internet interface to communicate with Applicants and Recipients 
under this NOFA. Recipients must use AMIS to submit required reports. 
The CDFI Fund will notify Recipients by email using the addresses 
maintained in each Recipient's AMIS account. Therefore, a Recipient and 
any Subsidiaries, signatories, and Affiliates must maintain accurate 
contact information (including contact person and authorized 
representative, email addresses, fax numbers, phone numbers, and office 
addresses) in their AMIS account(s).
    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. Reasonable Accommodations: Requests for reasonable 
accommodations under section 504 of the Rehabilitation Act should be 
directed to Mr. Michael Jones, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, at 
[email protected] no later than 72 hours in advance of the 
application deadline.
    B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 
U.S.C. chapter 35), an agency may not conduct or sponsor a collection 
of information, and an individual is not required to respond to a 
collection of information, unless it displays a valid OMB control 
number. Pursuant to the Paperwork Reduction Act, the BEA Program 
funding Application has been assigned the following control number: 
1559-0005.
    C. 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. 1834a, 4703, 4703 note, 4713; 12 CFR part 
1806.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2017-03684 Filed 2-23-17; 8:45 am]
 BILLING CODE 4810-70-P