[Federal Register Volume 83, Number 141 (Monday, July 23, 2018)]
[Notices]
[Pages 34913-34925]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15618]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Funding Opportunities: Bank Enterprise Award Program; 2018 
Funding Round

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for the Fiscal Year (FY) 2018 Funding Round of 
the Bank Enterprise Award Program (BEA Program).
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2018-BEA.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
    Dates:

                      Table 1--FY 2018 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
             Description                       Deadline         Time (eastern time--ET)    Contact information
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424       August 23, 2018........  11:59 p.m..............  Contact Grants.gov at
 Mandatory (Application for Federal                                                       800-518-4726 or
 Assistance). Submission Method:                                                          [email protected].
 Electronically via Grants.gov.
Last day to contact BEA Program Staff  September 18, 2018.....  5:00 p.m...............  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,     September 18, 2018.....  5:00 p.m...............  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.   September 20, 2018.....  5:00 p.m...............  CDFI Fund IT Helpdesk:
 AMIS support and submission of the                                                       202-653-0422 or IT
 FY 2018 BEA Program Electronic                                                           AMIS Service
 Application in AMIS.                                                                     Request.\3\
FY 2018 BEA Program Electronic         September 20, 2018.....  5:00 p.m...............  CDFI Fund IT Helpdesk:
 Application. Submission Method:                                                          202-653-0422 or IT
 Electronically via 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) 2018 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 highly 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 $3 billion to CDFIs, community development 
organizations, and financial institutions through the BEA Program; the 
Capital Magnet Fund, the Community Development Financial Institutions 
Program (CDFI Program), and the Native American CDFI Assistance Program 
(NACA Program). In addition, the CDFI Fund has allocated $54 billion in 
tax credit allocation authority to Community Development Entities 
through the New Markets Tax Credit Program (NMTC Program), and 
guaranteed bonds in the total amount of $1.36 billion through the CDFI 
Bond Guarantee Program.
    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

[[Page 34914]]

other requirements of the BEA Program. Detailed BEA Program 
requirements are also found in the application materials associated 
with this NOFA (the Application). The CDFI Fund encourages interested 
parties and Applicants to review the 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 website 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.A.14 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.A.16. of this NOFA (Application Review Information: Award 
Percentages, Award Amounts, Application Review Process, Selection 
Process, Programmatic Financial Risk, and Application Rejection), and 
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 2018 funding round, 
the Baseline Period is calendar year 2016 (January 1, 2016 through 
December 31, 2016), and the Assessment Period is calendar year 2017 
(January 1, 2017 through December 31, 2017).
    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, 2018 (Pub. L. 115-141), 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. 
Persistent 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 website, 
indicates whether a census tract also meets ``Persistent Poverty 
County'' (PPC) 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 $25 
million for the FY 2018 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 2018 funding round 
will begin in the winter 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 consists 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.

[[Page 34915]]

Subject to the requirements outlined in Section VI. of this NOFA, in 
the case of Commercial Real Estate Loans and related Project 
Investments, the total principal amount of the transaction must be $10 
million or less to be considered a Qualified Activity. Notwithstanding 
the foregoing, the CDFI Fund, in its sole discretion, may consider 
transactions with a total principal value of over $10 million, subject 
to review.
    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 website 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 
BEA web page on the CDFI Fund's website. 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, a Low-Income Community as defined by the NMTC Program, or an 
Area of Economic Distress as defined by the Capital Magnet Fund.
    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 payment of the 
award proceeds by the CDFI Fund. 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 BEA 
Program 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 2018 funding round, an
                                Applicant must be FDIC-insured as of
                                December 31, 2017 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 2018 funding round, an
                                eligible certified-CDFI Applicant is an
                                Insured Depository Institution that was
                                certified as a CDFI as of December 31,
                                2017 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 2018 BEA
                                Program Award if it has: (1) An
                                application pending for assistance under
                                the FY 2018 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 2018 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 2018 BEA
                                Program Award. Please note that
                                Applicants may apply for both a CDFI
                                Program award and a BEA Program Award in
                                FY 2018; however, receiving a FY 2018
                                CDFI Program award removes an Applicant
                                from eligibility for a FY 2018 BEA
                                Program Award.
                               If an Applicant's CDFI certification
                                application was submitted to the CDFI
                                Fund as of December 31, 2017 (the last
                                day of the assessment period), and was
                                ultimately approved by the CDFI Fund
                                prior to the publication of the FY 2018
                                NOFA, then the Applicant's CDFI status
                                is considered ``certified'' for purposes
                                of the FY 2018 BEA Program application.

[[Page 34916]]

 
Debarment/Do Not Pay            The CDFI Fund will conduct a
 Verification.                  debarment check and will not consider an
                                Application submitted by an Applicant if
                                the Applicant is delinquent on any
                                Federal debt.
                               The Do Not Pay Business Center was
                                developed to support Federal agencies in
                                their efforts to reduce the number of
                                improper payments made through programs
                                funded by the Federal government. The Do
                                Not Pay Business Center provides
                                delinquency information to the CDFI Fund
                                to assist with the debarment check.
------------------------------------------------------------------------

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

    Table 3--Eligibility Requirements for Applicants Which Are Prior
                               Recipients
------------------------------------------------------------------------
           Criteria                           Description
------------------------------------------------------------------------
Pending resolution of           If an Applicant that is a prior
 noncompliance.                 recipient or allocatee under any CDFI
                                Fund program: (i) Has submitted reports
                                to the CDFI Fund that demonstrate
                                noncompliance with a previous assistance
                                agreement, award agreement, allocation
                                agreement, bond loan agreement, or
                                agreement to guarantee and (ii) the CDFI
                                Fund has yet to make a final
                                determination as to whether the entity
                                is in default of its previous agreement,
                                the CDFI Fund will consider the
                                Applicant's Application under this NOFA
                                pending full resolution, in the sole
                                determination of the CDFI Fund, of the
                                noncompliance.
Default status...............   The CDFI Fund will not consider
                                an Application submitted by an Applicant
                                that is a prior CDFI Fund award
                                recipient or allocatee under any CDFI
                                Fund program if, as of the applicable
                                Application deadline of this NOFA, the
                                CDFI Fund has made a final determination
                                that such Applicant is in default of a
                                previously executed assistance
                                agreement, award agreement, allocation
                                agreement, bond loan agreement, or
                                agreement to guarantee.
                               Such entities will be ineligible to apply
                                for an Award pursuant to this NOFA so
                                long as the Applicant's prior award or
                                allocation remains in default status or
                                such other time period as specified by
                                the CDFI Fund in writing.
------------------------------------------------------------------------

    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 September 18, 2018, 
until after the Application deadline. The CDFI Fund will respond to 
technical issues related to AMIS Accounts through 5:00 p.m. ET on 
September 20, 2018, 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 website 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 2018 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 submit an FY 2018 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 their 
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 August 23, 2018. The Grant Application Package is validated by 
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

[[Page 34917]]

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 
submission deadline will not be able to submit a FY 2018 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 2018 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 2018 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 2018 BEA Application in AMIS. Applicants will 
not be able to submit their FY 2018 BEA Program Application without 
completing this step.
    Applicants are advised that the lookup function in the FY 2018 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 2018 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 its Grant Application Package in Grants.gov or 
FY 2018 BEA Program Application in AMIS. Applicants must have 
established a SAM.gov account no later than 30 days after the release 
of this NOFA. The SAM registration process can take several weeks to 
complete so Applicants are encouraged to begin this process upon 
release of this NOFA. 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.
    A signed notarized letter identifying the authorized Entity 
Administrator for the entity associated with the DUNS number is 
required by SAM before the registration will be activated. This 
requirement is applicable to new entities registering in SAM, as well 
as existing entities with registrations being updated or renewed in 
SAM.
    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 
2018 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 2018 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 2018 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 and AMIS Training Manual for the BEA 
Program Application. 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.

[[Page 34918]]

    H. Submission Dates and Times: The following table provides the 
critical deadlines for the FY 2018 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 exceptions or waivers for late submissions except 
where the submission delay was a direct result of a Federal government 
administrative or technological error.

------------------------------------------------------------------------
                                                        Time  (eastern
           Description                 Deadline              time)
------------------------------------------------------------------------
Grant Application Package/SF-424  August 23, 2018...  11:59 p.m. ET.
 Mandatory. Submission Method:
 Electronically via Grants.gov.
FY 2018 BEA Program Application.  September 20, 2018  5:00 p.m. ET.
 Submission Method:
 Electronically via 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 2018 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 2018 BEA Program Application. 
These deadlines are provided above in Table 4. FY 2018 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 2018 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: In order to determine whether 
the Grant Application Package was submitted properly, each Applicant 
should: (1) Receive two separate emails from Grants.gov, and (2) 
perform an independent step in Grants.gov to determine whether the 
Grant Application was validated. Each Applicant will receive the first 
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 should then perform an 
independent step in Grants.gov to determine if the Grant Application 
Package status shows as ``Validated'' by clicking on the ``Applicants'' 
menu, followed by clicking ``Track my Application,'' and then entering 
the tracking number provided in the first email. 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 
2018 BEA Program Application in AMIS.
    Applicants will not receive an email confirming that their FY 2018 
BEA Program Application was successfully submitted in AMIS. Instead, 
Applicants should check their AMIS account to ensure that the status of 
the FY 2018 BEA Program Application shows ``Under Review.'' Step-by-
step instructions for submitting an FY 2018 BEA Program Application in 
AMIS are provided in the Application Instructions, Supplemental 
Guidance, and AMIS Training Manual for the BEA Program Electronic 
Application.
    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 2018 BEA Program 
Application in AMIS.
    Applicants can only submit one FY 2018 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.

[[Page 34919]]

    1. CDFI Related Activities: CDFI Related Activities include Equity 
Investments, Equity-Like Loans, and CDFI Support Activities provided to 
eligible CDFI Partners.
    2. Eligible CDFI Partner: CDFI Partner is defined as a certified 
CDFI that has been provided assistance in the form of CDFI Related 
Activities by an unaffiliated Applicant (12 CFR 1806.103). For the 
purposes of this NOFA, an eligible CDFI Partner must have been 
certified as a CDFI as of the end of the applicable Assessment Period 
and be Integrally Involved in a Distressed Community.
    3. Integrally Involved: Integrally Involved is defined at 12 CFR 
1806.103. For purposes of this NOFA, for a CDFI Partner to be deemed to 
be Integrally Involved, it must have: (i) Provided at least 10 percent 
of financial transactions or dollars transacted (e.g., loans or Equity 
Investments), or 10 percent of Development Service Activities (as 
defined in 12 CFR 1805.104), in one or more Distressed Communities 
identified by the Applicant or the CDFI Partner, as applicable, in each 
of the three calendar years preceding the date of this NOFA; (ii) 
transacted at least 25 percent of financial transactions (e.g., loans 
or equity investments) in one or more Distressed Communities in at 
least one of the three calendar years preceding the date of this NOFA, 
or 25 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 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 website 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 website 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. Affordable Housing Development Loans and Related Project 
Investments: For purposes of this NOFA, eligible Affordable Housing 
Development Loans and related Project Investments do not include 
housing for students, or school dormitories.

[[Page 34920]]

    b. 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.
    c. 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 of no less than $500 
and no greater than $5,000 and have a term of ninety (90) days or more.
    d. Distressed Community Financing Activities--Transactions Less 
Than $250,000: For purposes of this NOFA, Applicants are expected to 
maintain records for any transaction submitted as part of the FY 2018 
BEA Program Application, including supporting documentation for 
transactions in the Distressed Community Financing Activity category of 
less than $250,000. The CDFI Fund reserves the right to request 
supporting documentation from an Applicant during its Application 
Review process for a Distressed Community Financing Activities 
transaction less than $250,000.
    e. Low- and Moderate-Income residents: For the purposes of this 
NOFA, Low-Income means borrower income that does not exceed 80 percent 
of the area median income, and Moderate-Income means borrower income 
may be 81 percent to no more than 120 percent of the area median 
income, according to the U.S. Census Bureau data.
    13. Reporting Certain Financial Services: The CDFI Fund will value 
the administrative cost of providing certain Financial Services using 
the following per unit values:
    a. $100.00 per account for Targeted Financial Services including 
safe transaction accounts, youth transaction accounts, Electronic 
Transfer Accounts and Individual Development Accounts;
    b. $50.00 per account for checking and savings accounts that do not 
meet the definition of Targeted Financial Services;
    c. $5.00 per check cashing transaction;
    d. $50,000 per new ATM installed at a location in a Distressed 
Community;
    e. $500,000 per new retail bank branch office opened in a 
Distressed Community, including school-based bank branches approved by 
the Applicant's Federal bank regulator;
    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 2018 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, 2017) 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 $313 million as              5.0
 of 12/31/2017).........................................
Intermediate--small institutions (assets of at least                 3.0
 $313 million but less than $1.252 billion as of 12/31/
 2017)..................................................
Large institutions (assets of $1.252 billion or greater              1.0
 as of 12/31/2017)......................................
------------------------------------------------------------------------

    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.

[[Page 34921]]

    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.
    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 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 the 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 payment 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 15 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;

[[Page 34922]]

(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 website.
    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 financial audit with: A going concern 
paragraph, an adverse opinion, a disclaimer of opinion, or a withdrawal 
of an 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 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 2018 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 2018 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 2018 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 2018 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 2018 BEA Program award announcement in the 
winter 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:

[[Page 34923]]



   Table 6--Criteria That May Result in Award Termination Prior to the
                     Execution of an Award Agreement
------------------------------------------------------------------------
           Criteria                           Description
------------------------------------------------------------------------
Failure to meet reporting      If an Applicant is a prior CDFI Fund
 requirements.                  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 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, 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 guarantee.
                                Please note that automated systems
                                employed by the CDFI Fund for receipt of
                                reports submitted electronically
                                typically acknowledge only a report's
                                receipt; such acknowledgment does not
                                warrant that the report received was
                                complete and therefore met reporting
                                requirements. If said prior Recipient or
                                allocatee is unable to meet this
                                requirement within the timeframe set by
                                the CDFI Fund, the CDFI Fund reserves
                                the right, in its sole discretion, to
                                terminate and rescind the award made
                                under this NOFA.
Pending resolution of          If at any time prior to entering into an
 noncompliance.                 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, allocation agreement,
                                bond loan agreement, or agreement to
                                guarantee, but (ii) the CDFI Fund has
                                yet to make a final determination
                                regarding whether or not the entity is
                                in default of its previous assistance,
                                award, allocation, bond loan agreement,
                                or agreement to guarantee, the CDFI Fund
                                reserves the right, in its sole
                                discretion, to delay entering into an
                                Award Agreement and/or to delay making a
                                disbursement of award proceeds, pending
                                full resolution, in the sole
                                determination of the CDFI Fund, of the
                                noncompliance.
                               If said prior Recipient or allocatee is
                                unable to meet this requirement, in the
                                sole determination of the CDFI Fund, the
                                CDFI Fund reserves the right, in its
                                sole discretion, to terminate and
                                rescind the award made under this NOFA.
Default status...............  If prior to entering into an Award
                                Agreement under this NOFA: (i) The CDFI
                                Fund has made a final determination that
                                an Applicant that is a prior CDFI Fund
                                Recipient or allocatee under any CDFI
                                Fund program whose award or allocation
                                terminated in default of such prior
                                agreement; (ii) the CDFI Fund has
                                provided written notification of such
                                determination to such organization; and
                                (iii) the anticipated date for entering
                                into the Award Agreement under this NOFA
                                is within a period of time specified in
                                such notification throughout which any
                                new award, allocation, assistance, bond
                                loan agreement(s), or agreement to
                                guarantee is prohibited, the CDFI Fund
                                reserves the right, in its sole
                                discretion, to terminate and rescind the
                                Award Agreement and the award made under
                                this NOFA.
Compliance with Federal civil  If prior to entering into an Award
 rights requirements.           Agreement under this NOFA, the Recipient
                                receives a final determination, made
                                within the last three years, in any
                                proceeding instituted against the
                                Recipient in, by, or before any court,
                                governmental, or administrative body or
                                agency, declaring that the Recipient has
                                violated the following laws: Title VI of
                                the Civil Rights Act of 1964, as amended
                                (42 U.S.C. 2000d); Section 504 of the
                                Rehabilitation Act of 1973 (29 U.S.C.
                                794); the Age Discrimination Act of
                                1975, (42 U.S.C. 6101-6107), and
                                Executive Order 13166, Improving Access
                                to Services for Persons with Limited
                                English Proficiency, the CDFI Fund will
                                terminate and rescind the Assistance
                                Agreement and the award made under this
                                NOFA.
Do Not Pay...................  The Do Not Pay Business Center was
                                developed to support Federal agencies in
                                their efforts to reduce the number of
                                improper payments made through programs
                                funded by the Federal government.
                               The CDFI Fund reserves the right, in its
                                sole discretion, to rescind an award if
                                the Recipient is identified as
                                ineligible to be a Recipient per the Do
                                Not Pay database.
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:

[[Page 34924]]



                     Table 7--Reporting Requirements
------------------------------------------------------------------------
           Criteria                           Description
------------------------------------------------------------------------
Single Audit Narrative Report  For each year of its performance period,
 (or like report).              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       Recipients must submit the Use of Award
 Report--for all Recipients.    report to the CDFI Fund via AMIS.
Use of BEA Program Award       The CDFI Fund will require each Recipient
 Report--Funds Deployed in      with Persistent Poverty County
 Persistent Poverty Counties.   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.
Explanation of Noncompliance   If the Recipient fails to meet a
 (as applicable) or successor   Performance Goal or reporting
 report.                        requirement, it must submit the
                                Explanation of Noncompliance via AMIS.
------------------------------------------------------------------------

    Each Recipient is responsible for the timely and complete 
submission of the reporting requirements. The CDFI Fund reserves the 
right to contact the Recipient to request additional information and 
documentation. The CDFI Fund 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. 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 website. Other 
information regarding the CDFI Fund and its programs may be obtained 
from the CDFI Fund's website at https://www.cdfifund.gov.
    The following table lists contact information for the CDFI Fund, 
Grants.gov and SAM:

                      Table 8--Contact Information
------------------------------------------------------------------------
                                  Telephone No.
        Type of Question            (not toll       Electronic contact
                                      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 
website 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

[[Page 34925]]

accommodations under section 504 of the Rehabilitation Act should be 
directed to Mr. Jay Santiago, 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 
website 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. 2018-15618 Filed 7-20-18; 8:45 am]
 BILLING CODE 4810-70-P