[Federal Register Volume 85, Number 65 (Friday, April 3, 2020)]
[Notices]
[Pages 19060-19073]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-07012]


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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for the Fiscal Year (FY) 2020 Funding Round of 
the Bank Enterprise Award Program (BEA Program).
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2020-BEA
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.021
    Dates:

                      Table 1--FY 2020 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
                                                              Time (Eastern
                Description                     Deadline        Time--ET)            Contact information
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424 Mandatory      May 4, 2020      11:59 p.m.  Contact Grants.gov at 800-518-4726
 (Application for Federal Assistance).                                        or [email protected].
Submission Method: Electronically via
 Grants.gov.
Last day to register a user and                June 1, 2020       5:00 p.m.  CDFI Fund IT Helpdesk: 202-653-0422
 organization in AMIS.                                                        or IT Award Management Information
                                                                              System (AMIS) Service Request \1\
Last day to enter, edit or delete BEA          June 1, 2020       5:00 p.m.  CDFI Fund IT Helpdesk: 202-653-0422
 transactions, and verify addresses/census                                    or IT AMIS Service Request \2\
 tracts in AMIS.
Last day to contact BEA Program Staff re:      June 1, 2020       5:00 p.m.  CDFI Fund BEA Helpdesk: 202-653-
 BEA Program Application materials.                                           0421 or BEA AMIS Service
                                                                              Request.\3\
Last day to contact Certification,             June 1, 2020       5:00 p.m.  CCME Helpdesk: 202-653-0423 or
 Compliance Monitoring and Evaluation                                         Compliance and Reporting AMIS
 (CCME) staff.                                                                Service Request.\4\
Last day to contact IT Help Desk re. AMIS      June 3, 2020       5:00 p.m.  CDFI Fund IT Helpdesk: 202-653-0421
 support and submission of the FY 2020 BEA                                    or IT AMIS Service Request.\5\
 Program Electronic Application in AMIS.
FY 2020 BEA Program Electronic Application.    June 3, 2020         5:00 pm  CDFI Fund IT Helpdesk: 202-653-0422
Submission Method: Electronically via AMIS.                                   or IT AMIS Service Request.\6\
----------------------------------------------------------------------------------------------------------------
\1\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
  within AMIS. For the SR, select ``Technical Issues'' from the Program drop down menu.
\2\ Ibid.
\3\ 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
  Program'' from the Program drop down menu of the Service Request.
\4\ 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 ``Compliance and Reporting'' from the Program drop down
  menu of the Service Request.
\5\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
  within AMIS. For the SR, select ``Technical Issues'' from the Program drop down menu of the Service Request.
\6\ Ibid.

    Executive Summary: This NOFA is issued in connection with the 
fiscal year (FY) 2020 funding round of the Bank Enterprise Award 
Program (BEA Program). The BEA Program is administered by the U.S. 
Department of

[[Page 19061]]

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 to 
residents and businesses in the most economically Distressed 
Communities, and financial assistance and technical assistance to 
certified Community Development Financial Institutions (CDFIs) through 
equity investments, equity-like loans, grants, stock purchases, loans, 
deposits, and other forms of 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 
provided more than $3.5 billion through a variety of monetary awards 
programs to CDFIs, community development organizations, and financial 
institutions. In addition, the CDFI Fund has allocated $57.5 billion in 
tax credit allocation authority to Community Development Entities 
through the New Markets Tax Credit Program (NMTC Program), and has 
guaranteed more than $1.6 billion in bonds 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 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 part 200): The Uniform 
Administrative Requirements codify financial, administrative, 
procurement, and program management standards that Federal award-making 
agencies and Award 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 Award 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 2020 funding round, 
the Baseline Period is calendar year 2018 (January 1, 2018 through 
December 31, 2018), and the Assessment Period is calendar year 2019 
(January 1, 2019 through December 31, 2019).
    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 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, 2020 (Public Law Number 116-93), 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, including county equivalent areas in Puerto Rico, 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 
2011-2015 5-year data series available from the American Community 
Survey of the Census Bureau or any other territory or possession of the 
United States that has had 20 percent or more of its population living 
in poverty over the past 30 years, as measured by the 1990, 2000 and 
2010 Island Areas Decennial Censuses, or equivalent data, of the Bureau 
of the Census and published by the CDFI Fund at: https://www.cdfifund.gov/Documents/PPC%20updated%20Oct.2017.xlsx. 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. The tabular BEA Program Eligibility 
Data can be located by clicking on ``Research and Data,'' scrolling to 
``Program Eligibility Guidance'' and selecting ``BEA Program Updated 
2011-2015 ACS Data,'' or by

[[Page 19062]]

going to the following hyperlink: https://www.cdfifund.gov/Documents/BEA%20ACS_2015_V12.xlsx. 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 2020 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 Award 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 2020 funding round 
will begin in the fall of calendar year 2020. 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 BEA Program Award Agreement (Award Agreement), during 
which the Award Recipient must meet the performance goals set forth in 
the Award Agreement.
    D. Eligible Activities: Eligible activities for BEA Program 
Applicants 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. 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 BEA Program 
award or an agreement under any CDFI Fund program, 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, or by IT AMIS Service 
Request.
    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 CMF Program.
    1. Designation of Distressed Community by a CDFI Partner: CDFI 
Partners that receive CDFI Support Activities in the form of loans, 
technical assistance or deposits from an Applicant must be integrally 
involved in a Distressed Community. 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 Award 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 Award Recipients to recover overhead or 
Indirect Costs. The Award Recipient may use up to fifteen percent (15%) 
of the total BEA Program award amount on Qualified Activities as Direct 
Administrative Expenses. ``Direct Administrative

[[Page 19063]]

Expenses'' shall mean Direct Costs, as described in section 2 CFR 
200.413 of the Uniform Requirements, which are incurred by the Award 
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 Award 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 a BEA 
Program award from the CDFI Fund.

                                Table 2--Eligibility Requirements for Applicants
----------------------------------------------------------------------------------------------------------------
                             Criteria                                               Description
----------------------------------------------------------------------------------------------------------------
Eligible Applicants..............................................   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.
                                                                    Eligible Applicants for the BEA
                                                                    Program must be Insured Depository
                                                                    Institutions, as defined in the Interim
                                                                    Rule.
                                                                    For the FY 2020 funding round, an
                                                                    Applicant must have been FDIC-insured as of
                                                                    the first day of the Baseline Period,
                                                                    January 1, 2018, and maintain its FDIC-
                                                                    insured status at the time of Application 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 2020 funding round, an
                                                                    eligible certified-CDFI Applicant is an
                                                                    Insured Depository Institution that was
                                                                    certified as a CDFI as of December 31, 2019
                                                                    and 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 2020 BEA Program Award if it
                                                                    has: (1) An application pending for
                                                                    assistance under the FY 2020 round of the
                                                                    CDFI Program; (2) been included on the list
                                                                    of Award Recipients under the CDFI Program
                                                                    award announcement within the 12-month
                                                                    period prior to the Federal Award Date of
                                                                    the FY 2020 BEA Program Award Agreement; (3)
                                                                    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 2020 BEA Program Award Agreement; or
                                                                    (4) ever received assistance under the CDFI
                                                                    Program for the same activities for which it
                                                                    is seeking a FY 2020 BEA Program Award.
                                                                    Please note that Applicants may apply for
                                                                    both a CDFI Program award and a BEA Program
                                                                    Award in FY 2020; however, receiving a FY
                                                                    2020 or FY 2019 CDFI Program award removes
                                                                    an Applicant from eligibility for a FY 2020
                                                                    BEA Program Award.
                                                                    If an Applicant's CDFI certification
                                                                    application was submitted to the CDFI Fund
                                                                    by December 31, 2019, and is ultimately
                                                                    approved by the CDFI Fund by April 14, 2020,
                                                                    then the Applicant will be considered a
                                                                    ``certified'' CDFI for purposes of the FY
                                                                    2020 BEA Program application.
Debarment/Do Not Pay Verification................................   The CDFI Fund will conduct a
                                                                    debarment check and will not consider an
                                                                    Application submitted by an Applicant (or
                                                                    Affiliate of 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 Award Recipients
----------------------------------------------------------------------------------------------------------------
                             Criteria                                               Description
----------------------------------------------------------------------------------------------------------------
Pending resolution of noncompliance                                 If an Applicant (or Affiliate of an
                                                                    Applicant) that is a prior Award Recipient
                                                                    or Allocatee under any CDFI Fund program:
                                                                    (i) Has demonstrated it has been in
                                                                    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 noncompliance with or
                                                                    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 or Noncompliance status                                     The CDFI Fund will not consider an
                                                                    Application submitted by an Applicant (or
                                                                    Affiliate of such Applicant) that has a
                                                                    previously executed assistance agreement,
                                                                    award agreement, bond loan agreement, or
                                                                    agreement to guarantee or allocation
                                                                    agreement if, as of the date of the
                                                                    Application, (i) the CDFI Fund has made a
                                                                    determination that such entity is
                                                                    noncompliant with and or in default of such
                                                                    previously executed agreement, and (ii) the
                                                                    CDFI Fund has provided written notification
                                                                    that such entity is ineligible to apply for
                                                                    or receive any future CDFI Fund awards or
                                                                    allocations. Such entities will be
                                                                    ineligible to submit an Application for such
                                                                    time period as specified by the CDFI Fund in
                                                                    writing.
----------------------------------------------------------------------------------------------------------------


[[Page 19064]]

    C. Contact the CDFI Fund: Accordingly, Applicants that are prior 
Award 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 electronic inquiries received after 5:00 p.m. ET on 
June 1, 2020, until after the Application deadline. The CDFI Fund will 
respond to technical issues related to AMIS Accounts through 5:00 p.m. 
ET on June 1, 2020, 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 2020 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 2020 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 May 4, 2020. 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 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 electronically retrieves 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 2020 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 2020 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 2020 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 2020 BEA Application in AMIS. Applicants will 
not be able to submit their FY 2020 BEA Program Application without 
completing this step.
    Applicants are advised that the lookup function in the FY 2020 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 2020 BEA Application.
    Applicants are also highly encouraged to provide EIN, Authorized 
Representative and/or Contact Person

[[Page 19065]]

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 2020 BEA Program Application in AMIS. When accessing SAM.gov, users 
will be asked to create a login.gov user account (if they don't already 
have one). Going forward, users will use their login.gov username and 
password every time when logging in to SAM.gov. Applicants must have 
established an active SAM.gov account no later than 30 days after the 
release of this NOFA. The SAM registration process can take three weeks 
or longer to complete so Applicants are strongly encouraged to begin 
the registration process upon release of this NOFA in order to avoid 
potential application submission problems. Applicants that have 
previously completed the SAM registration process must verify that 
their SAM accounts are current and active. Applicants are advised to 
complete the SAM.gov process at least 48 hours in advance of the Grants 
Application Package deadline. 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.
    An original, signed notarized letter identifying the authorized 
Entity Administrator for the entity associated with the DUNS number is 
required by SAM and must be mailed to the Federal Service Desk. This 
requirement is applicable to new entities registering in SAM, as well 
as existing entities with registrations being updated or renewed in 
SAM. Additional information on the notarized letter process can be 
located at: https://www.gsa.gov/about-us/organization/federal-acquisition-service/office-of-systems-management/integrated-award-environment-iae/sam-update-updated-july-11-2018.
    The CDFI Fund will not consider any Applicant that fails to 
properly register or activate its SAM's account and, as a result, is 
unable to submit its Grant Application Package in Grants.gov, or FY 
2020 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 2020 BEA Program 
Application in AMIS, the CDFI Fund's web-based portal. All Applicants 
must register User and Organization accounts in AMIS by June 1, 2020. 
In addition, all BEA transactions must be finalized in AMIS by June 1, 
2020; this includes address/census tract verification. No transactions 
can be added, edited, or deleted after this deadline. Failure to 
register and complete a FY 2020 BEA Program Application in AMIS in 
accordance with the deadlines noted in Table 1: FY 2020 BEA Program 
Funding Round--Key Dates for Applicants 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 Award 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 
BEA Transactions deadline and any Qualified Activity missing the 
required documentation will be disqualified. Qualified Activity 
documentation delivered by hard copy to the CDFI Fund's Washington, DC 
office address will be rejected, unless the Applicant previously 
requested a paper version of the Application as described in Section 
IV.A.
    H. Submission Dates and Times: The following table provides the 
critical deadlines for the FY 2020 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.

        Table 4--Critical Deadlines for FY 2020 BEA Funding Round
------------------------------------------------------------------------
                                                          Time (Eastern
             Description                  Deadline            Time)
------------------------------------------------------------------------
Grant Application Package/SF-424           May 4, 2020        11:59 p.m.
 Mandatory..........................
Submission Method: Electronically
 via Grants.gov.
FY 2020 BEA Program Application.....      June 3, 2020           5:00 pm
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 2020 BEA Program Application 
was successfully submitted in AMIS. Applicants should note that the 
Grant Application Package consists solely of the SF-424 Mandatory

[[Page 19066]]

and has a different deadline than the FY 2020 BEA Program Application. 
These deadlines are provided above in Table 4: FY 2020 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 2020 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. Instead, 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 BEA Transactions deadline. Only the Authorized 
Representative or an Application Point of Contact can submit the FY 
2020 BEA Program Application in AMIS.
    Applicants will not receive an email confirming that their FY 2020 
BEA Program Application was successfully submitted in AMIS. Instead, 
Applicants should check their AMIS account to ensure that the status of 
the FY 2020 BEA Program Application shows ``Under Review.'' Step-by-
step instructions for submitting an FY 2020 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 2020 BEA Program 
Application in AMIS.
    Applicants can only submit one FY 2020 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 SF-424 
Mandatory in Grants.gov or an FY 2020 BEA Program Application in AMIS 
if it is not signed by an Authorized Representative or submitted after 
the respective deadlines. In either case, the CDFI Fund will not review 
any material submitted, and the Application will be deemed ineligible, 
except where the submission delay was a direct result of a Federal 
government administrative or technological error. This exception 
includes any errors associated with Grants.gov, SAM.gov, AMIS or any 
other applicable government system. Please note that this exception 
does not apply to errors arising from obtaining a DUNS number from Dun 
& Bradstreet, which is not a government entity. An Applicant unable to 
make timely submission of its Application due to any errors in the 
process of obtaining a DUNS number will not be allowed to submit its 
Application after the Application deadline has passed. 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 a 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 ``FY 2020 BEA Late Application Submission Request.''
    I. Funding Restrictions: BEA Program Awards are limited by the 
following:
    1. The Award Recipient shall use BEA Program Award funds only for 
the eligible activities described in Section II. D. of this NOFA and 
the Authorized BEA Program Activities described in its Award Agreement.
    2. The Award 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 Award 
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.
    The CDFI Fund will not collect or accept any Personally 
Identifiable Information (PII) in AMIS or in any of the application 
submission materials. PII is information, which if lost, compromised, 
or disclosed without authorization, could result in substantial harm, 
embarrassment, inconvenience, or unfairness to an individual. Although 
Applicants are required to enter addresses of individual borrowers/
residents of Distressed Communities in AMIS, Applicants must not 
include the following PII for the individuals who received the 
financial products or services in AMIS or in the supporting 
documentation: name of the individual, Social Security Number, driver's 
license or state identification number, passport number, and Alien 
Registration Number. This information should be redacted from all 
supporting documentation. If the CDFI Fund discovers PII during the 
review of an Application, the transaction will be deleted from the 
application record and deemed ineligible.
    1. CDFI Related Activities: CDFI Related Activities include Equity 
Investments, Equity-Like Loans, and

[[Page 19067]]

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 date that the BEA Applicant made its 
investment or provided support, and be Integrally Involved in a 
Distressed Community (if the BEA Applicant provided CDFI Support 
Activities to the CDFI Partner).
    3. Integrally Involved: Integrally Involved is defined at 12 CFR 
1806.103. For purposes of this NOFA, in order for an Applicant to 
report CDFI Support Activities in its Application, the CDFI Partner 
which received the support must be deemed to be Integrally Involved by 
demonstrating it has: (i) Provided at least 10 percent of the number of 
its financial transactions or dollars transacted (e.g., loans or Equity 
Investments), or 10 percent of the number of its Development Service 
Activities (as defined in 12 CFR 1805.104) or value of the 
administrative cost of providing such services, in one or more 
Distressed Communities identified by the CDFI Partner, in each of the 
three calendar years preceding the date of this NOFA; (ii) transacted 
at least 25 percent of the number of its financial transactions or 
dollars transacted (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 the number of its 
Development Service Activities (as defined in 12 CFR 1805.104) or value 
of the administrative cost of providing such services, in one or more 
Distressed Communities identified by the CDFI Partner, in at least one 
of the three calendar years preceding the date of this NOFA; (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; or (iv) at least 25 percent of the 
CDFI Partner's physical locations (e.g., offices or branches) are 
located in one or more Distressed Communities where it provided 
financial transactions or Development Service Activities during the one 
calendar year preceding the date of the 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 the 
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. If 
a variable rate is used, the Applicant must describe its methodology 
for determining that the interest rate over the life of the CD is a 
materially below market interest rate. The CDFI Fund reserves the right 
to follow up with an Applicant regarding variable interest rate CD 
transactions.
    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

[[Page 19068]]

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. In addition, for such 
transactions, Applicants will be required to provide supporting 
documentation that demonstrates that at least 60 percent of the units 
in the property financed are or will be sold or rented to Eligible 
Residents who meet Low-and-Moderate-income requirements, as noted in 
the Application instructions.
    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 2020 
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 Award 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 FY 2020 BEA Program Application in AMIS.
    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, 2019) 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 types within the 
Distressed Community Financing Activities and Service Activities 
categories only, as follows:

[[Page 19069]]



                 Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
                                                        Priority factor
------------------------------------------------------------------------
Small institutions (assets of less than $326 million                 5.0
 as of 12/31/2019)...................................
Intermediate--small institutions (assets of at least                 3.0
 $326 million but less than $1.305 billion as of 12/
 31/2019)............................................
Large institutions (assets of $1.305 billion or                      1.0
 greater as of 12/31/2019)...........................
------------------------------------------------------------------------

    15. Certain Limitations on Qualified Activities:
    a. Low-Income Housing Tax Credits: Financial assistance provided by 
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the 
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute 
an Equity Investment, Project Investment, or other Qualified Activity, 
for the purposes of calculating or receiving a BEA Program Award.
    b. New Markets Tax Credits: Financial assistance provided by an 
Applicant for which the Applicant receives benefits as an investor in a 
Community Development Entity that has received an allocation of New 
Markets Tax Credits, authorized pursuant to Section 45D of the Internal 
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an 
Equity Investment, Project Investment, or other Qualified Activity, for 
the purposes of calculating or receiving a BEA Program Award. Leverage 
loans used in New Markets Tax Credit structured transactions that meet 
the requirements outlined in this NOFA are considered Distressed 
Community Financing Activities. The application materials will provide 
further guidance on requirements for BEA transactions which were 
leverage loans used in a New Markets Tax Credit structured transaction.
    c. Loan Renewals and Refinances: Financial assistance provided by 
an Applicant shall not constitute a Qualified Activity, as defined in 
this part, for the purposes of calculating or receiving a BEA Program 
Award if such financial assistance consists of a loan to a borrower 
that has matured and is then renewed by the Applicant, or consists of a 
loan to a borrower that is retired or restructured using the proceeds 
of a new commitment by the Applicant.
    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, facilities offering massage services, 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 Fund Awards: No Applicant may receive a BEA Program 
Award for the same 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, Award 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 subsequent payment 
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 
Award 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,

[[Page 19070]]

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, Award 
Recipients will be selected based on the process described in the 
Interim Rule at 12 CFR 1806.404. This process gives funding priority to 
Applicants that undertake activities in the following order: (i) CDFI 
Related Activities, (ii) Distressed Community Financing Activities, and 
(iii) Service Activities, as described in the Interim Rule at 12 CFR 
1806.404(c).
    Within each category, CDFI Applicants will be ranked first 
according to the ratio of the actual award amount calculated by the 
CDFI Fund for the category to the total assets of the Applicant, 
followed by Applicants that are not CDFI Applicants according to the 
ratio of the actual award amount calculated by the CDFI Fund for the 
category to the total assets of the Applicant. Selections within each 
priority category will be based on the Applicants' relative rankings 
within each such category, subject to the availability of funds and any 
established maximum dollar amount of total awards that may be awarded 
for the Distressed Community Financing Activities category of Qualified 
Activities, as determined by the CDFI Fund.
    The CDFI Fund, in its sole discretion: (i) May adjust the estimated 
award amount that an Applicant may receive; (ii) may establish a 
maximum amount that may be awarded to an Applicant; and (iii) reserves 
the right to limit the amount of an award to any Applicant if the CDFI 
Fund deems it appropriate.
    The CDFI Fund reserves the right to contact the Applicant to 
confirm or clarify information. If contacted, the Applicant must 
respond within the CDFI Fund's time parameters or the Application may 
be rejected.
    The CDFI Fund reserves the right to change its eligibility and 
evaluation criteria and procedures. If those changes materially affect 
the CDFI Fund's award decisions, the CDFI Fund will provide information 
regarding the changes through the CDFI Fund's 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; (ii.) 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; or (iii.) a Prompt Corrective 
Action directive from its regulator imposing restrictions on its level 
of lending activities, 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 for: activities which funding 
has been requested, activities which meet the BEA Program criteria of 
Qualified Activities, or other circumstances which may impact an 
Applicant's ability to successfully manage, re-invest, and/or report on 
a FY 2020 BEA Program Award.
    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 FY 2020 
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 FY 2020 BEA Program Award during the period of performance.
    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 2020 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 2020 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 2020 BEA Program Application or 
provide reasons why an Applicant was not selected to receive a FY 2020 
BEA Program Award. The CDFI Fund will only respond to general questions 
regarding the FY 2020 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 2020 BEA Program award announcement in the 
summer of 2020. 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 an Award 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 
Award Recipient is required to sign the Award Agreement via an 
electronic signature in AMIS. The CDFI Fund will subsequently execute 
the Award Agreement. Each Award 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. 
Applicants are advised that the General Services Administration (GSA) 
will transition from using DUNS numbers as

[[Page 19071]]

the Unique Entity Identifier (UEI) to using SAM Managed Identifiers 
(SAMMI) on December 31, 2020. This transition is not expected to impact 
FY 2020 BEA Applicants' ability to submit an Application. However, 
Applicants are encouraged to stay informed about what is required to 
maintain an active SAM account status while payments are being 
processed for Award Recipients.
    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 Award Recipient's eligibility for an award; the CDFI 
Fund's evaluation of the Application; the Award Recipient's compliance 
with any requirement listed in the Uniform Requirements; or indicates 
fraud or mismanagement on the Award Recipient's part, the CDFI Fund 
may, in its discretion and without advance notice to the Award 
Recipient, terminate the award or take other actions as it deems 
appropriate.
    If the Award 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 Award 
Recipient's non-CDFI status.
    By executing an Award Agreement, the Award 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 Award Recipient's 
eligibility for an award, or adversely affects the CDFI Fund's 
evaluation of the Award Recipient's Application, or indicates fraud or 
mismanagement on the part of the Award Recipient, the CDFI Fund may, in 
its discretion and without advance notice to the Award 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 Award Recipient fails to return the Award 
Agreement, signed by the authorized representative of the Award 
Recipient, and/or provide the CDFI Fund with any other requested 
documentation, within the CDFI Fund's deadlines.
    In addition, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Award Agreement and the award 
made under this NOFA for any criteria described in the following table:

       Table 6--Criteria That May Result in Award Termination Prior to the Execution of an Award Agreement
----------------------------------------------------------------------------------------------------------------
                             Criteria                                               Description
----------------------------------------------------------------------------------------------------------------
Failure to maintain FDIC-insured status..........................   If prior to entering into an Award
                                                                    Agreement under this NOFA, the Award
                                                                    Recipient does not maintain its FDIC-insured
                                                                    status, the CDFI Fund will terminate and
                                                                    rescind the Award Agreement and the award
                                                                    made under this NOFA.
Failure to meet reporting requirements...........................   If an Applicant is a prior CDFI Fund
                                                                    Award 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 Award
                                                                    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 Award 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 noncompliance..............................   If, at any time prior to entering
                                                                    into an Award Agreement under this NOFA, an
                                                                    Applicant (or Affiliate of an Applicant)
                                                                    that is a prior CDFI Fund Award Recipient or
                                                                    Allocatee under any CDFI Fund program: (i)
                                                                    Has demonstrated it has been in
                                                                    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 noncompliance with or 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 payment of award
                                                                    proceeds, pending full resolution, in the
                                                                    sole determination of the CDFI Fund, of the
                                                                    noncompliance.
                                                                    If said prior Award 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 or Noncompliance status..................................   If prior to entering into an Award
                                                                    Agreement under this NOFA: (i) The CDFI Fund
                                                                    has made a final determination that an
                                                                    Applicant (or an Affiliate of an Applicant)
                                                                    that is a prior CDFI Fund Award Recipient or
                                                                    Allocatee under any CDFI Fund program whose
                                                                    award or allocation terminated in default or
                                                                    noncompliance of such prior agreement; (ii)
                                                                    the CDFI Fund has provided written
                                                                    notification of such determination to such
                                                                    organization; and (iii) the anticipated date
                                                                    for entering into the Award Agreement under
                                                                    this NOFA is within a period of time
                                                                    specified in such notification throughout
                                                                    which any new award, allocation, assistance,
                                                                    bond loan agreement(s), or agreement to
                                                                    guarantee is prohibited, the CDFI Fund
                                                                    reserves the right, in its sole discretion,
                                                                    to terminate and rescind the Award Agreement
                                                                    and the award made under this NOFA.
Compliance with Federal civil rights requirements................   If prior to entering into an Award
                                                                    Agreement under this NOFA, the Award
                                                                    Recipient receives a final determination,
                                                                    made within the last three years, in any
                                                                    proceeding instituted against the Award
                                                                    Recipient in, by, or before any court,
                                                                    governmental, or administrative body or
                                                                    agency, declaring that the Award Recipient
                                                                    has violated the following laws: Title VI of
                                                                    the Civil Rights Act of 1964, as amended (42
                                                                    U.S.C. Sec.   2000d); Section 504 of the
                                                                    Rehabilitation Act of 1973 (29 U.S.C. Sec.
                                                                    794); the Age Discrimination Act of 1975,
                                                                    (42 U.S.C. Sec.   6101-6107), and Executive
                                                                    Order 13166, Improving Access to Services
                                                                    for Persons with Limited English
                                                                    Proficiency, the CDFI Fund will terminate
                                                                    and rescind the Award Agreement and the
                                                                    award made under this NOFA.

[[Page 19072]]

 
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 Award Recipient (or Affiliate of a
                                                                    Recipient) is identified as ineligible to be
                                                                    an Award Recipient per the Do Not Pay
                                                                    database.
Safety and Soundness.............................................   If it is determined the Award
                                                                    Recipient is or will be incapable of meeting
                                                                    its award obligations, the CDFI Fund will
                                                                    deem the Award 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 an Award Recipient, 
unless an exception detailed in this NOFA applies, the CDFI Fund and 
the Award 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 period of performance; and (v) the reporting 
requirements. The Award Agreement shall provide that an Award 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 Award Recipient has fulfilled all 
applicable requirements; and (iii) use the BEA Program Award amount for 
Qualified Activities. Award 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 
Award Recipient to account for and report to the CDFI Fund on the use 
of the award. This will require Award Recipients to establish 
administrative controls, subject to applicable OMB Circulars. The CDFI 
Fund will collect information from each such Award 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 Award 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 Award 
Recipient including, but not limited to, an Annual Report with the 
following components:

                     Table 7--Reporting Requirements
------------------------------------------------------------------------
                Criteria                           Description
------------------------------------------------------------------------
Financial Statement Audit Report (FSA    Award Recipients must submit
 report)--for all Award Recipients.       the FSA report to the CDFI
                                          Fund via AMIS.
Use of BEA Program Award Report--for     Award Recipients must submit
 all Award Recipients.                    the Use of Award report to the
                                          CDFI Fund via AMIS.
Use of BEA Program Award Report--Funds   The CDFI Fund will require each
 Deployed in Persistent Poverty           Award Recipient with
 Counties--as applicable.                 Persistent Poverty County
                                          commitments to report data for
                                          Award funds deployed in
                                          persistent poverty counties
                                          and maintain proper supporting
                                          documentation and records
                                          which are subject to review by
                                          the CDFI Fund.
Explanation of Noncompliance or          If the Award Recipient fails to
 successor report--as applicable.         meet a Performance Goal or
                                          reporting requirement, it must
                                          submit the Explanation of
                                          Noncompliance via AMIS.
------------------------------------------------------------------------

    Each Award Recipient is responsible for the timely and complete 
submission of the reporting requirements. The CDFI Fund reserves the 
right to contact the Award 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 Award 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 
Award Recipients.
    E. Financial Management and Accounting: The CDFI Fund will require 
Award 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 Award 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 Award Recipients to: maintain effective internal controls; 
comply with

[[Page 19073]]

applicable statutes, regulations, and the Award Agreement; evaluate and 
monitor compliance; take action when not in compliance; and safeguard 
personally identifiable information, as described in Section V.A. of 
this NOFA.

VII. Federal Awarding Agency Contacts

    A. Questions Related to Application and Prior Award 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 number
              Type of question                  (not toll free)                                  Electronic contact method
--------------------------------------------------------------------------------------------------------------------------------------------------------
BEA Program.................................        202-653-0421  BEA AMIS Service Request.
Certification, Compliance Monitoring, and           202-653-0423  BEA Compliance and Reporting AMIS Service Request.
 Evaluation.
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 Award 
Recipients under this NOFA. Award Recipients must use AMIS to submit 
required reports. The CDFI Fund will notify Award Recipients by email 
using the addresses maintained in each Award Recipient's AMIS account. 
Therefore, an Award 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 Award 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).
    E. Statutory and National Policy Requirements: The CDFI Fund will 
manage and administer the Federal award in a manner so as to ensure 
that Federal funding is expended and associated programs are 
implemented in full accordance with the U.S. Constitution, Federal Law, 
statutory, and public policy requirements: Including, but not limited 
to, those protecting free speech, religious liberty, public welfare, 
the environment, and prohibiting discrimination.

VIII. Other Information

    A. Reasonable Accommodations: Requests for reasonable 
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.

Jodie Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2020-07012 Filed 4-2-20; 8:45 am]
BILLING CODE 4810-70-P