[Federal Register Volume 82, Number 188 (Friday, September 29, 2017)]
[Notices]
[Pages 45663-45674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20922]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Funding Opportunity Title: Notice of Funds Availability (NOFA) 
Inviting Applications for the Fiscal Year (FY) 2017 Funding Round of 
the Bank Enterprise Award Program (BEA Program)

    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2017-BEA.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
    Key Dates:

                      Table 1--FY 2017 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
                                                                 Time  (Eastern  Time--
             Description                       Deadline                   ET)              Contact Information
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424       November 16, 2017......  11:59 p.m. ET..........  Contact Grants.gov at
 Mandatory (Application for Federal                                                       800-518-4726 or
 Assistance).                                                                             [email protected].
Submission Method: Electronically via
 Grants.gov.
Last day to contact BEA Program Staff  November 28, 2017......  5:00 p.m. ET...........  CDFI Fund BEA Helpdesk:
 re: BEA Program Application                                                              202-653-0421 or BEA
 materials.                                                                               Award Management
                                                                                          Information System
                                                                                          (AMIS) Service
                                                                                          Request.\1\
Last day to contact Certification,     November 28, 2017......  5:00 p.m. ET...........  CCME Helpdesk: 202-653-
 Compliance Monitoring and Evaluation                                                     0423 or Compliance and
 (CCME) staff.                                                                            Reporting AMIS Service
                                                                                          Request.\2\
Last day to contact IT Help Desk re.   November 30, 2017......  5:00 p.m. ET...........  CDFI Fund IT Helpdesk:
 AMIS support and submission of the                                                       202-653-0422 or IT
 FY 2017 BEA Program Application in                                                       AMIS Service
 AMIS.                                                                                    Request.\3\
FY 2017 BEA Program Application......  November 30, 2017......  5:00 pm ET.............  CDFI Fund IT Helpdesk:
Submission Method: Electronically via                                                     202-653-0422 or IT
 AMIS.                                                                                    AMIS Service
                                                                                          Request.\4\
----------------------------------------------------------------------------------------------------------------
\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 and 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 ``BEA-AMIS technical
  problem'' for the type.
\4\ Ibid.

    Executive Summary: This NOFA is issued in connection with the 
fiscal year (FY) 2017 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 
certified 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 and Regulatory Improvement 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 more than $2.3 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), and the BEA Program. 
In addition, the CDFI Fund has allocated $50.5 billion in tax credit 
allocation authority to Community Development Entities through the New 
Markets Tax Credit Program (NMTC Program), guaranteed bonds in the 
total amount of $1.1 billion through the CDFI Bond Guarantee Program, 
and awarded more than $171 million through the Capital Magnet Fund. The 
BEA Program complements the community development activities of banks 
and thrifts (collectively referred to as banks for purposes of this 
NOFA) 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 
(the 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

[[Page 45664]]

Application). The CDFI Fund encourages interested parties and 
Applicants to review the authorizing statute, 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, or 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 an 
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.B. of this NOFA (Application Review Information: Award 
Percentages, Award Amounts, Application Review Process, Selection 
Process, Programmatic Financial Risk, and Application Rejection), 
specifically parts V.B.2: Selection Process, V.B.3: Programmatic and 
Financial Risk, and V.B.4: Persistent Poverty Counties.
    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 2017 funding round, 
the Baseline Period is calendar year 2015 (January 1, 2015 through 
December 31, 2015), and the Assessment Period is calendar year 2016 
(January 1, 2016 through December 31, 2016).
    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 to 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.
    G. Persistent Poverty Counties: Pursuant to the Consolidated 
Appropriations Act, 2017 (Pub. L. Number 115-3), Congress mandated that 
at least ten percent of the CDFI Fund's appropriations be directed to 
counties that meet the criteria for ``Persistent Poverty'' designation. 
Persisent Poverty Counties (PPCs) are defined as any county that has 
had 20 percent or more of its population living in poverty over the 
past 30 years, as measured by the 1990 and 2000 decennial censuses, and 
the most recent series of 5-year data available from the American 
Community Survey from the Census Bureau. The tabular BEA Program 
Eligibility Data which is located on the CDFI Fund's Web site has been 
updated and now indicates whether a census tract also meets 
``Persistent Poverty County'' criteria. Applicants that apply under 
this NOFA will be required to indicate the minimum and maximum 
percentage of the BEA Program Award that the Applicant will commit to 
investing in PPCs.

II. Federal Award Information

    A. Funding Availability: The CDFI Fund expects to award up to $23 
million for the FY 2017 BEA Program Awards round 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 2017 funding round 
will begin in the spring of calendar year 2018. Specifically, the 
period of performance begins on 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).
    CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and 
CDFI Support Activities. CDFI Equity conists of Equity Investments, 
Equity-Like Loans, and Grants. CDFI Support Activities includes Loans, 
Deposits and Technical Assistance.
    Distressed Community Financing Activities (12 CFR 1806.103) means 
Consumer Loans and Commercial Loans and Investments. Consumer Loans 
include Affordable Housing Loans; Education Loans; Home Improvement 
Loans; and Small Dollar Consumer Loans. Commercial Loans and 
Investments includes Affordable Housing Development Loans and related 
Project Investments; Commercial Real Estate Loans and related Project 
Investments; and Small Business Loans and related Project Investments. 
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

[[Page 45665]]

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.
    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.
    E. Distressed Community: 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 Fund's Web site at https://www.cdfifund.gov/Pages/mapping-system.aspx. The CIMS Mapping Tool contains a step-by-step 
training manual on how to use the tool. In addition, further 
instructions to determine whether an activity is located in a qualified 
BEA Distressed Community can be located at: https://www.cdfifund.gov/programs-training/Programs/bank_enterprise_award/Pages/apply-step.aspx#step1 when selecting the BEA Program Application CIMS3 
Instructions document in the ``Application Materials'' section of the 
Web page. If you have any questions or problems with accessing the CIMS 
Mapping Tool, 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.
    F. Award Agreement: Each Recipient under this NOFA must 
electronically sign an Award Agreement via AMIS 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.
    G. Use of Award: It is the policy of the CDFI Fund that BEA Program 
Awards may not be used by Recipients to recover overhead or Indirect 
Costs. The Recipient may use up to fifteen percent (15%) of the total 
BEA Program award amount on Qualified Activities as Direct 
Administrative Expenses. ``Direct Administrative Expenses'' shall mean 
Direct Costs, as described in section 2 CFR 200.413 of the Uniform 
Requirements, which are incurred by the Recipient to carry out the 
Qualified Activities. Such costs must be able to be specifically 
identified with the Qualified Activities and not also recovered as 
Indirect Costs. ``Indirect Costs'' means costs or expenses defined in 
accordance with section 2 CFR 200.56 of the Uniform Requirements. In 
addition, the Recipient must comply, as applicable, with the Buy 
American Act of 1933, 41 U.S.C. 8301-8303, with respect to any Direct 
Costs.

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 2017 funding round,
                                          an Applicant must be FDIC-
                                          insured as of December 31,
                                          2016 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 2017 funding round,
                                          an eligible certified-CDFI
                                          Applicant is an Insured
                                          Depository Institution that
                                          was certified as a CDFI as of
                                          December 31, 2016 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
                                          2017 BEA Program Award if it
                                          has: (1) An application
                                          pending for assistance under
                                          the FY 2017 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 2017 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 2017 BEA Program
                                          Award. Please note that
                                          Applicants may apply for both
                                          a CDFI Program award and a BEA
                                          Program Award in FY 2017;
                                          however, receiving a FY 2017
                                          CDFI Program award removes an
                                          Applicant from eligibility for
                                          a FY 2017 BEA Program Award.
                                         If an Applicant's CDFI
                                          certification application was
                                          submitted to the CDFI Fund as
                                          of December 31, 2016 (the last
                                          day of the assessment period),
                                          but was ultimately approved by
                                          the CDFI Fund prior to the
                                          publication of the FY 2017
                                          NOFA, then the Applicant's
                                          CDFI status is considered
                                          ``certified'' for purposes of
                                          the FY 2017 BEA application.
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.

[[Page 45666]]

 
                                         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:

    Table 3--Eligibility Requirements for Applicants Which Are Prior
                               Recipients
------------------------------------------------------------------------
                Criteria                           Description
------------------------------------------------------------------------
Pending resolution of noncompliance....  If an Applicant that is a prior
                                          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.
------------------------------------------------------------------------

    C. Contact the CDFI Fund: Accordingly, Applicants that are prior 
recipients and/or allocatees under any CDFI Fund program are advised to 
comply with requirements specified in an assistance agreement, award 
agreement, allocation agreement, bond loan agreement, or agreement to 
guarantee. All outstanding reports and compliance questions should be 
directed to the Certification, Compliance Monitoring and Evaluation 
helpdesk by submitting a BEA 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. ET, 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. ET on November 28, 2017, 
until after the Application deadline. The CDFI Fund will respond to 
technical issues related to AMIS Accounts through 5:00 p.m. ET on 
November 30, 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 2017 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 required 
application information on two separate deadlines and in two separate 
and distinct systems, Grants.gov and the CDFI Fund's AMIS. The first 
step is the submission of the Grant Application, which consists solely 
of the Office of Management and Budget Standard Form-424 Mandatory (SF-
424 Mandatory) Application for Federal Assistance, in Grants.gov. The 
second step is to sumbit an FY 2017 BEA Program Application in AMIS.
    D. Grants.gov: Applicants must be registered with Grants.gov to 
submit the Grants Application Package. The Grants Application Package 
consists of one item, the SF-424 Mandatory. In order to register with 
Grants.gov, Applicants must have a DUNS number and have an active 
registration 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: https://www.grants.gov/web/grants/register.html) 
as it may take several weeks to complete. Applicants that have 
previously registered with Grants.gov must verify that the 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. Applicants are 
required to submit a Grant Application Package in Grants.gov and have 
it validated by the Grants.gov submission deadline of November 16, 
2017. The Grant Application Package is validated by

[[Page 45667]]

Grants.gov after the Applicant's initial submission and it may take 
Grants.gov up to 48 hours to complete the validation process. 
Therefore, the CDFI Fund encourages Applicants to submit the Grant 
Application Package as early as possible. This will help to ensure that 
the Grant Application Package is validated before the Grants.gov 
submission deadline and provide time for Applicants to contact 
Grants.gov directly to resolve any submission issues since the CDFI 
Fund does not administer or maintain that system. For more information 
about Grants.gov, please visit https://www.grants.gov and see Table 8 
for Grants.gov contact information.
    The CDFI Fund can only electronically retrieve validated Grant 
Application Packages from Grants.gov and therefore only considers the 
submission of the Grant Application Package to be successful when it 
has been validated by Grants.gov before the submission deadline. It is 
the Applicant's sole responsibility to ensure that its Grant 
Application Package is submitted and validated by Grants.gov before the 
submission deadline. Applicants that do not successfully submit their 
Grant Application Package and have it validated by the Grants.gov by 
the submission deadline will not be able to submit a FY 2017 BEA 
Program Application in AMIS. The CDFI Fund will electronically retrieve 
validated Grant Application Packages from Grants.gov on a daily basis. 
Applicants are advised that it will take up to 48 hours from when the 
CDFI Fund retrieves the validated Grant Application Package for it to 
be available in AMIS to associate with a FY 2017 BEA Program 
Application.
    Once the CDFI Fund has retrieved the validated Grant Application 
Package from Grants.gov and made it available in AMIS, Applicants must 
associate it with their Application. Applicants can begin working on 
their FY 2017 BEA Program Application in AMIS at any time, however, 
they will not be able to submit the application until the validated 
Grant Application Package is associated, by the Applicant, with the 
application.
    Applicants are advised that the CDFI Fund will not notify them when 
the validated Grant Application Package has been retrieved from 
Grants.gov or when it is available in AMIS. It is the Applicant's 
responsibility to ensure that the validated SF-424 Mandatory is 
associated with its FY 2017 BEA Application in AMIS. Applicants will 
not be able to submit their FY 2017 BEA Program Application without 
completing this step.
    Applicants are advised that the lookup function in the FY 2017 BEA 
Application in AMIS, uses the DUNS number reported on the validated 
Grant Application Package to match it with the correct AMIS 
Organization account. Therefore, Applicants must make sure the DUNS 
number included in the Grant Application Package submitted in 
Grants.gov matches the DUNS number in their AMIS Organization account. 
If, for example, the DUNS number does not match because the Applicant 
inadvertently used the DUNS number of their Bank Holding Company on the 
Grant Application Package in Grants.gov and is attempting to associate 
with AMIS Organization account of their FDIC-Insured Bank subsidiary, 
the lookup function will not return any results and the Applicant will 
not be able to submit the FY 2017 BEA Application.
    Applicants are also highly encouraged to provide EIN, Authorized 
Representative and/or Contact Person information on the Grant 
Application Package that matches the information included in AMIS 
Organization account.
    E. 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.
    F. 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 Grant Application Package in 
Grants.gov, or FY 2017 BEA Program Application in AMIS by the 
respective deadlines. 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 or call 866-606-8220.
    G. AMIS: All Applicants must complete an FY 2017 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 2017 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 Grant Application Package 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. 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 any 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 2017 BEA Funding Round. Applications and 
any other required documents or attachments received after the 
applicable deadline will be rejected. The document submission deadlines 
stated in this NOFA and the Application are strictly enforced. The CDFI 
Fund will not grant

[[Page 45668]]

exceptions or waivers for late submissions except where the submission 
delay was a direct result of a Federal government administrative or 
technological error.

----------------------------------------------------------------------------------------------------------------
               Description                           Deadline                      Time (Eastern Time)
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424
 Mandatory.
    Submission Method: Electronically via  November 16, 2017..........  11:59 p.m. ET.
     Grants.gov.
FY 2017 BEA Program Application..........
    Submission Method: Electronically via  November 30, 2017..........  5:00 p.m. ET.
     AMIS.
----------------------------------------------------------------------------------------------------------------

    1. Confirmation of Application Submission: Applicants may verify 
that their Grant Application Package was successfully submitted and 
validated in Grants.gov and that their FY 2017 BEA Program Application 
was successfully submitted in AMIS. Applicants should note that the 
Grant Application Package consists solely of the SF-424 Mandatory and 
has a different deadline than the FY 2017 BEA Program Application. 
These deadlines are provided above in Table 4. FY 2017 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 2017 BEA Program Application or any of the application related 
material submitted in AMIS and the Application will be deemed 
ineligible.
    a. Grants.gov Submission Information: 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 retrieved by the CDFI Fund until it has 
been validated by Grants.gov.
    b. AMIS Submission Information: AMIS is the web-based portal where 
Applicants will directly enter their application information and add 
supporting documentation, when applicable. The CDFI Fund strongly 
encourages the Applicant to allow sufficient time to confirm the 
Application content, review the material submitted, and remedy any 
issues prior to the Application deadline. Only the Authorized 
Representative or an Application Point of Contact can submit the FY 
2017 BEA Program Application in AMIS.
    Applicants will not receive an email confirming that their FY 2017 
BEA Program Application was successfully submitted in AMIS. Instead, 
Applicants should check their AMIS account to ensure that the status of 
the FY 2017 BEA Program Application shows ``Under Review.'' Step-by-
step instructions for submitting an FY 2017 BEA Program Application in 
AMIS are provided in the Application Instructions, Supplemental 
Guidance, and AMIS Application Manual.
    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 2017 BEA Program 
Application in AMIS.
    Applicants can only submit one FY 2017 BEA Program Application in 
AMIS. Upon submission, the Application will be locked and cannot be 
resubmitted, edited, or modified in any way. The CDFI Fund will not 
unlock a submitted Application or allow multiple Application 
submissions.
    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 their 
request for acceptance of a late Application submission to the BEA 
Program Office via an AMIS Service Request with documentation that 
clearly demonstrates the error by no later than two business days after 
the applicable Application deadline for Grants.gov or AMIS. The CDFI 
Fund will not respond to request for acceptance of late Application 
submissions after that time period. The AMIS Service Request must be 
directed to the BEA Program 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.

[[Page 45669]]

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 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 12 CFR.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 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; 
Commercial Real Estate Loans and related Project Investments; and Small 
Business 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 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

[[Page 45670]]

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;
    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 is intended to 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 
Residents or enterprises to whom it is claiming to have provided the 
Financial Services; and
    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 2017 BEA Program 
Application.
    14. Priority Factors: Priority Factors are the numeric values 
assigned to individual types of activity within: (i) The Distressed 
Community Financing Activities, and (ii) Services Activities 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, 2016) 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 $304 million as of 12/       5.0
 31/2016)....................................................
Intermediate--small institutions (assets of at least $304            3.0
 million but less than $1.2216 billion as of 12/31/2016).....
Large institutions (assets of $1.2216 billion or greater as          1.0
 of 12/31/2016)..............................................
------------------------------------------------------------------------

    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. The application materials will provide 
further guidance on requirements for BEA transactions which were 
leverage loans used in a New Markets Tax Credit structured transaction.
    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: Adult 
entertainment providers, 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

[[Page 45671]]

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 subcategory of 
CDFI Equity, for all Applicants, the estimated award amount will be 
equal to 18 percent of the increase in Qualified Activities reported in 
this subcategory.
    In the CDFI Related Activities subcategory of CDFI Support 
Activities, for a certified CDFI Applicant, the estimated award amount 
will be equal to 18 percent of the increase in Qualified Activities in 
this subcategory. If an Applicant is not a certified CDFI, the 
estimated award amount will be equal to 6 percent of the increase in 
Qualified Activities in this subcategory.
    In Distressed Community Financing Activities' subcategory of 
Consumer Lending, the estimated award amount for certified CDFI 
Applicants will be 18 percent of the weighted value of the increase in 
Qualified Activities in this subcategory. If an Applicant is not a 
certified CDFI Applicant, the estimated award amount will be equal to 6 
percent of the weighted value of the increase in Qualified Activities 
in this subcategory.
    In Distressed Community Financing Activities' subcategory of 
Commercial Lending and Investments, for a certified CDFI Applicant, the 
estimated award amount will be equal to 9 percent of the weighted value 
of the increase in Qualified Activities in this subcategory. If an 
Applicant is not a certified CDFI, the estimated award amount will be 
equal to 3 percent of the weighted value of the increase in Qualified 
Activity in this subcategory.
    In the Service Activities category, for a certified 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 certified CDFI, 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 according to the procedure 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.
    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 the Application may 
be 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 
an Applicant that has:
    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 that was 
active at the time the Applicant submitted its Application to the CDFI

[[Page 45672]]

Fund or becomes active during the CDFI Fund's evaluation of the 
Application.
    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 not 
approve 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. Persistent Poverty Counties: Should the CDFI Fund determine, 
upon analysis of the initial pool of BEA Program Award Recipients, that 
it has not achieved the 10 percent PPC requirement mandated by 
Congress, Award preference will be given to Applicants that committed 
to deploying a minimum of 10 percent of their FY 2017 BEA Program Award 
in PPCs. Applicants may be required to deploy more than the minimum 
commitment percentage, but the percentage required should not exceed 
the maximum commitment percentage provided in the Application. 
Applicants that committed to serving PPCs and are selected to receive a 
FY 2017 BEA Program award, will have their PPC commitment incorporated 
into their Award Agreement as a Performance Goal which will be subject 
to compliance and reporting requirements. No applicant, however, will 
be disqualified from consideration for not making a PPC commitment in 
its BEA Program Application.
    5. 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 2017 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 2017 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 2017 BEA Program award announcement in the 
spring of 2018. The Federal Award 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 payment.
    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 requirements.  If an Applicant is a prior CDFI
                                          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.

[[Page 45673]]

 
Pending resolution of noncompliance....  If, at any time prior to
                                          entering 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 rights     If prior to entering into an
 requirements.                            Award 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.
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 approved uses of the award; (iii) the performance goals and 
measures; (iv) the performance periods; and (v) 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. Recipients which committed to serving PPCs will have their 
PPC commitment incorporated into their Award Agreement as a performance 
goal which will be subject to compliance and reporting requirements.
    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.
Use of BEA Program Award Report--   Recipients must submit the Use of
 for all Recipients.                 Award report to the CDFI Fund via
                                     AMIS.
Use of BEA Program Award Report--   The CDFI Fund will require each
 Funds Deployed in Persistent        Recipient with Persistent Poverty
 Poverty Counties.                   County commitments to report data
                                     for Award funds deployed in
                                     persistent poverty counties and
                                     maintain proper supporting
                                     documentation and records which are
                                     subject to review by the CDFI
                                     Fund's Certification, Compliance
                                     Monitoring, and Evaluation unit.
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.
------------------------------------------------------------------------


[[Page 45674]]

    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 may consider financial information filed 
with Federal regulators during its compliance review. 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 https://www.cdfifund.gov.
    The following table lists contact information for the CDFI Fund, 
Grants.gov and SAM:

                      Table 8--Contact Information
------------------------------------------------------------------------
                                    Telephone
        Type of question          number  (not      Electronic contact
                                   toll free)             method
------------------------------------------------------------------------
BEA Program....................    202-653-0421  BEA AMIS Service
                                                  Request.
Certification, Compliance          202-653-0423  BEA Compliance and
 Monitoring, and Evaluation.                      Reporting AMIS Service
                                                  Request.
AMIS--IT Help Desk.............    202-653-0422  IT AMIS Service
                                                  Request.
Grants.gov Help Desk...........    800-518-4726  [email protected].
SAM.gov (Federal Service Desk).    866-606-8220  Web form via https://www.fsd.gov/fsd-gov/login.do.
------------------------------------------------------------------------

    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 https://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. 2017-20922 Filed 9-28-17; 8:45 am]
BILLING CODE 4810-70-P