[Federal Register Volume 86, Number 37 (Friday, February 26, 2021)]
[Notices]
[Pages 11824-11838]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04034]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Community Development Financial Institutions Rapid Response 
Program (CDFI RRP)

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for grants to support, prepare for, and respond 
to the economic impacts of the COVID-19 pandemic through the Community 
Development Financial Institutions Fund (CDFI Fund) CDFI Rapid Response 
Program (CDFI RRP).
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2021-RRP.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.024.

DATES: 

                     Table 1--CDFI Rapid Response Program Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
            Description                        Deadline            Time (eastern time--ET)    Submission method
----------------------------------------------------------------------------------------------------------------
Last day to enter EIN and DUNS      March 22, 2021...............  11:59 p.m..............  AMIS.
 numbers in AMIS.
Last day to submit SF-424           March 22, 2021...............  11:59 p.m..............  Electronically via
 Mandatory (Application for                                                                  Grants.gov.
 Federal Assistance).
Last day to contact CDFI Fund with  March 23, 2021...............  5:00 p.m...............  Service Request \1\
 questions about the CDFI Rapid                                                              via AMIS or CDFI
 Response Program.                                                                           Fund Helpdesk: 202-
                                                                                             653-0421.
Last day to contact AMIS-IT Help    March 25, 2021...............  5:00 p.m...............  Service Request via
 Desk (regarding AMIS technical                                                              AMIS or 202-653-
 problems only).                                                                             0422 or
                                                                                             [email protected]
                                                                                             .
Last day to submit CDFI Rapid       March 25, 2021...............  11:59 p.m..............  AMIS.
 Response Program Application.
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[[Page 11825]]

    Executive Summary: Through the CDFI Rapid Response Program (CDFI 
RRP), the CDFI Fund will provide (i) awards of up to $5 million to 
Certified Community Development Financial Institutions (CDFIs) \2\ to 
support, prepare for, and respond to the economic impact of the COVID-
19 pandemic. All awards provided through this NOFA are subject to 
funding availability.
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    \1\ Service Request shall mean a written inquiry or notification 
submitted to the CDFI Fund via AMIS.
    \2\ Certified CDFI shall mean an entity that the CDFI Fund has 
officially notified that it meets all CDFI certification 
requirements.
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I. Program Description

    A. History: The CDFI Fund was established by the Riegle Community 
Development Banking and Financial Institutions Act of 1994 to promote 
economic revitalization and community development through investment in 
and assistance to CDFIs. The CDFI Rapid Response Program was authorized 
by Congress to provide grants to CDFIs to support, prepare for, and 
respond to the economic impact of the COVID-19 pandemic.
    B. Priorities: Through CDFI Rapid Response Program grants, the CDFI 
Fund will invest in and build the capacity of for-profit and non-profit 
community based lending organizations known as CDFIs. These 
organizations, certified as CDFIs by the CDFI Fund, serve rural and 
urban Low-Income people, and communities across the nation that lack 
adequate access to affordable Financial Products and Financial 
Services. The CDFI Rapid Response Program grants will be used to 
support the CDFI's provision of financial products and services to 
underserved people and communities as well as the operational expenses 
to support the CDFI's operational capacity.
    C. Authorizing Statutes and Regulations: The CDFI Rapid Response 
Program is authorized by The Coronavirus Response and Relief 
Supplemental Appropriations Act of 2021 (Pub. L. 116-260) (Authorizing 
Statute). The regulations governing the CDFI Program are found at 12 
CFR parts 1805 and 1815 (the Regulations) and are used by the CDFI Fund 
to govern, in general, the CDFI Rapid Response Program, setting forth 
evaluation criteria and other program requirements. The CDFI Fund 
encourages Applicants to review the Regulations; this NOFA; the CDFI 
Rapid Response Program Application (the Application); all related 
materials and guidance documents found on the CDFI Fund's website 
(Application materials); and the Uniform Administrative Requirements, 
Cost Principles, and Audit Requirements for Federal Awards (2 CFR part 
1000), which is the Department of the Treasury's codification of the 
Office of Management and Budget (OMB) government-wide framework for 
grants management at 2 CFR part 200 (the Uniform Requirements) for a 
complete understanding of the program. Capitalized terms in this NOFA 
are defined in the Authorizing Statute, the Regulations, this NOFA, the 
Application, Application materials, or the Uniform Requirements. 
Details regarding Application content requirements are found in the 
Application and Application materials.
    D. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR part 1000): The Uniform 
Requirements codify financial, administrative, procurement, and program 
management standards that Federal awarding agencies must follow. When 
evaluating Applications, awarding agencies must evaluate the risks 
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 certification status, 
financial and compliance performance, portfolio and balance sheet 
strength, a diversity of CDFI business model types, and program 
capacity. In addition, the Uniform Requirements include guidance on 
audit requirements and other award compliance requirements for 
Recipients.
    E. Funding limitations: The CDFI Fund reserves the right to fund, 
in whole or in part, any, all, or none of the Applications submitted in 
response to this NOFA.

II. Federal Award Information

    A. Funding Availability:

[[Page 11826]]

    1. CDFI Rapid Response Program: The CDFI Fund expects to award, 
through this NOFA, approximately $1.248 billion as indicated in the 
following table:

                                            Table 2--CDFI Rapid Response Program Anticipated Category Amounts
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                          Award amount                                       Estimated
                                            Estimated total amount to  --------------------------------------------------    Estimated    average amount
            Funding categories                      be awarded                                                               number of    to be  Awarded
                                                                            Minimum                 Maximum *                 awards            \3\
--------------------------------------------------------------------------------------------------------------------------------------------------------
CDFI Rapid Response Program..............  $1,223,000,000.............        $200,000  $5,000,000 or 150% of the                  1,000      $1,189,000
                                                                                         Applicant's Total On-Balance
                                                                                         Sheet Financial Products Closed
                                                                                         in Eligible Markets and/or
                                                                                         Target Markets \4\ in the Most
                                                                                         Recent Historic Fiscal Year,
                                                                                         \5\ whichever is less.
CDFI Rapid Response Program--Native        No less than $25,000,000            200,000  5,000,000 or 150% of the                      50       1,189,000
 Communities \6\.                           \7\.                                         Applicant's Total On-Balance
                                                                                         Sheet Financial Products Closed
                                                                                         in Eligible Markets and/or
                                                                                         Target Markets in the Most
                                                                                         Recent Historic Fiscal Year,
                                                                                         whichever is less.
--------------------------------------------------------------------------------------------------------------------------------------------------------
* The CDFI Fund does not anticipate that any applicant will receive the maximum award amount of $5 million. The award is dependent on the number of
  awards made, for example: If there are 510 awards, the estimated largest award would be $3.3 million; if there are 800 awards, the estimated largest
  award would be $1.8 million; and if there are 1,050 awards, the estimated largest award would be $1.4 million.


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    \3\ The Estimated Average Amount to be Awarded is derived from 
the Estimated Total Amount to be Awarded divided by the Estimated 
Number of Awards for both funding categories.
    \4\ Total On-Balance Sheet Financial Products Closed in Eligible 
Markets and/or Target Markets is the sum of the following 
Application Financial Data inputs in the CDFI Rapid Response Program 
Application: On-Balance Sheet Loans Closed in Eligible Markets and/
or Target Markets, On-Balance Sheet Loan Guarantees Made in Eligible 
Markets and/or Target Markets, and Total Equity Investments Closed 
in Eligible Markets and/or Target Markets.
    \5\ For the purposes of this NOFA, an Applicant's most recent 
historic fiscal year end is determined as follows:
    (A) Applicants with a 3/31 fiscal year end date will treat FY 
2020 as their most recent historic fiscal year and FY 2021 as their 
current year.
    (B) Applicants with a 6/30 fiscal year end date will treat FY 
2020 as their most recent historic fiscal year and FY 2021 as their 
current year.
    (C) Applicants with a 9/30 fiscal year end date and a completed 
FY 2020 audit will treat FY 2020 as their most recent historic 
fiscal year and FY 2021 as their current year.
    (D) Applicants with a 9/30 fiscal year end date but without a 
completed FY 2020 audit will treat FY 2019 as their most recent 
historic fiscal year and FY 2020 as their current year.
    (E) Applicants with a 12/31 fiscal year end date, with or 
without a completed FY 2020 audit, will treat FY 2019 as their most 
recent historic fiscal year and FY 2020 as their current year.
    \6\ Native Communities shall mean Native American, Alaska 
Native, or Native Hawaiian populations or Native American areas 
defined as Federally-designated reservations, Hawaiian homelands, 
Alaska Native Villages and U.S. Census Bureau-designated Tribal 
Statistical Areas.
    \7\ In accordance with the Authorizing Statute, no less than $25 
million will be awarded as grants to benefit Native American, Native 
Hawaiian, and Alaska Native communities.
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    The CDFI Fund reserves the right to award more or less than the 
amounts cited above in each category, based upon available funding and 
other factors, as appropriate.
    2. Funding Availability for the CDFI Rapid Response Program: 
Funding for the CDFI Rapid Response Program is provided through The 
Coronavirus Response and Relief Supplemental Appropriations Act of 2021 
(Pub. L. 116-260).
    3. Anticipated Start Date and Period of Performance: The Period of 
Performance for CDFI Rapid Response Program grants begins with the date 
of the award announcement and includes a Certified CDFI Recipient's two 
full consecutive fiscal years after the date of the award announcement, 
during which the Recipient must meet the Performance Goals and Measures 
(PG&Ms) set forth in the Assistance Agreement.
    B. Types of Awards: Through the CDFI Rapid Response Program, the 
CDFI Fund provides awards in the form of grants to Certified CDFIs. At 
least $25 million of the funds available must be awarded in the form of 
a grant to Certified CDFIs that serve Native Communities.\8\ The CDFI 
Fund reserves the right, in its sole discretion, to provide a CDFI 
Rapid Response Program grant in an amount other than that which the 
Applicant requests; however, the CDFI Rapid Response Program grant 
amount will not exceed the Applicant's request as stated in its 
Application.
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    \8\ To qualify as a CDFI that serves Native Communities an 
Applicant must meet several requirements.
    1. 50% or more of the Applicant's past activities must be 
directed to Native Communities.
    2. The Applicant's certification Target Market must have one or 
more of the following characteristics.
    a. For qualifying with an Investment Area Target Market, the 
Applicant must demonstrate that the Investment Area approved for 
certification is also a geographic area of Federally-designated 
reservations, Hawaiian homelands, Alaska Native Villages and U.S. 
Census Bureau designated Tribal Statistical Areas; and/or
    b. For qualifying with an Other Targeted Population (OTP) Target 
Market, the Applicant's Target Market approved for certification 
must be an OTP of Native Americans or American Indians, including 
Alaska Natives living in Alaska and Native Hawaiians living in 
Hawaii.
    For purposes of this NOFA, a Native Community is defined as 
Native American, Alaska Native, or Native Hawaiian populations or 
Native American areas defined as Federally-designated reservations, 
Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-
designated Tribal Statistical areas.
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    C. Eligible Activities:
    1. CDFI Rapid Response Program: CDFI Rapid Response Program grant 
funds may be expended for eligible activities serving Commercial Real 
Estate, Small Business, Microenterprise, Community Facilities, Consumer 
Financial Products, Consumer Financial Services, Commercial Financial 
Products, Commercial Financial Services, Affordable Housing, 
Intermediary Lending to Non-Profits and CDFIs, and other lines of 
business as deemed appropriate by the CDFI Fund in the following five 
categories supporting the direct provision of financial products and 
services: (i) Financial Products; (ii) Financial Services; (iii) Loan 
Loss Reserves; (iv) Development Services; and (v) Capital Reserves. In 
addition, the greater of $200,000 or 15% of the CDFI Rapid Response 
Program grant may be expended for supporting operations in the 
following seven eligible activity categories: (vi) Compensation--
Personal Services; (vii) Compensation--Fringe Benefits; (viii) 
Professional Service Costs; (ix) Travel Costs; (x) Training and 
Education Costs; (xi) Equipment; and (xii) Supplies. CDFI Rapid 
Response Program grants may only be used for Direct Costs associated 
with an eligible activity. Direct Costs are incurred by the Recipient 
to carry out the award eligible activities is as described in section 2 
CFR 200.413 of the Uniform Requirements. The eligible activity 
categories will not be authorized for Indirect Costs or an associated 
Indirect Cost Rate. Any expenses that are prohibited by the Uniform 
Requirements are unallowable and are

[[Page 11827]]

generally found in Subpart E-Cost Principles.
    The CDFI Rapid Response Program Budget is the amount of the award 
and must be expended in the 12 eligible activity categories prior to 
the end of the Budget Period.\9\ The CDFI Fund will not approve an 
amendment to extend the Budget Period to allow a Recipient additional 
time to expend the CDFI Rapid Response Program grant.
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    \9\ Budget Period means the time interval from the start date of 
a funded portion of an award to the end date of that funded portion 
during which Recipients are authorized to expend the funds awarded. 
The Budget Period for CDFI Rapid Response Program grants begins with 
the date of the award announcement and includes a Certified CDFI 
Recipient's two full consecutive fiscal years after the date of the 
award announcement.
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    CDFI Rapid Response Program Recipients must meet certain PG&Ms:
    (i) All CDFI Rapid Response Program Recipients must expend 90% of 
the Recipient's first payment amount in the first year of the Budget 
Period and expend 100% of the total award amount by the Budget Period 
end date.
    (ii)(a) Recipients that receive an award greater than $200,000 (the 
minimum award amount) and that do not qualify for CDFI Rapid Response 
Program funding designated to benefit Native Communities, must meet the 
following requirement:

--Close Financial Products in an Eligible Market(s) or the Recipient's 
approved Target Market in an amount equal to or greater than 50% of the 
total CDFI Rapid Response Program award amount in the first year of the 
Period of Performance and 70% of the total CDFI Rapid Response Program 
award amount by the Period of Performance end date. If awarded, the 
Applicant may satisfy this goal using the CDFI Rapid Response Program 
Assistance or other available funds on its balance sheet.

    (ii)(b) Recipients that receive an award greater than $200,000 (the 
minimum award amount) and that qualify for CDFI Rapid Response Program 
funding designated to benefit Native Communities must meet the 
following requirement:

--Close Financial Products in Native Communities in an amount equal to 
or greater than 50% of the total CDFI Rapid Response Program award 
amount in the first year of the Period of Performance and 70% of the 
total CDFI Rapid Response Program award amount by the Period of 
Performance end date. If awarded, the Applicant may satisfy this goal 
using the CDFI Rapid Response Program Assistance or other available 
funds on its balance sheet.

    Final PG&Ms may differ and will be set forth in the final CDFI 
Rapid Response Program Assistance Agreement. Financial Products and 
expended award funds used to satisfy the CDFI Rapid Response Program 
Performance Goals may not also be reported for Performance Goals 
related to CDFI Program and NACA Program awards.
    The Recipient must comply, as applicable, with the Buy American Act 
of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform 
Requirements,\10\ with respect to any Direct Costs.
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    \10\ Sec.  2 CFR 200.216 prohibits Recipients and Subrecipients 
from obligating or expending loan or grant funds to procure or 
obtain, by contract or otherwise, equipment, services, or systems 
that use ``covered telecommunications equipment''. As used herein, 
``covered telecommunications equipment'' is telecommunications 
equipment produced by Huawei Technologies Company or ZTE Corporation 
(or any Subsidiary or Affiliate of such entities).
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    For purposes of this NOFA, the 12 eligible activity categories are 
defined below:

    Table 3--CDFI Rapid Response Program Eligible Activity Categories
------------------------------------------------------------------------
                                                          Eligible CDFI
       Eligible activity           Eligible activity       institution
                                     definition *             types
------------------------------------------------------------------------
i. Financial Products.........  Grant funds expended    All.
                                 as loans, Equity
                                 Investments and
                                 similar financing
                                 activities (as
                                 determined by the
                                 CDFI Fund) including
                                 the purchase of loans
                                 originated by
                                 Certified CDFIs and
                                 the provision of loan
                                 guarantees. In the
                                 case of CDFI
                                 Intermediaries,
                                 Financial Products
                                 may also include
                                 loans to CDFIs and/or
                                 Emerging CDFIs, and
                                 deposits in Insured
                                 Credit Union CDFIs,
                                 Emerging Insured
                                 Credit Union CDFIs,
                                 and/or State-Insured
                                 Credit Union CDFIs.
ii. Financial Services........  Grant funds expended    Regulated
                                 for providing           Institutions
                                 checking, savings       \11\ only.
                                 accounts, check
                                 cashing, money
                                 orders, certified
                                 checks, automated
                                 teller machines,
                                 deposit taking, safe
                                 deposit box services,
                                 and other similar
                                 services.
iii. Loan Loss Reserves.......  Grant funds set aside   All.
                                 in the form of cash
                                 reserves, or through
                                 accounting-based
                                 accrual reserves, to
                                 cover losses on
                                 loans, accounts, and
                                 notes receivable or
                                 for related purposes
                                 that the CDFI Fund
                                 deems appropriate.
iv. Development Services......  Grant funds expended    All.
                                 for activities
                                 undertaken by a CDFI,
                                 its Affiliate or
                                 contractor that (i)
                                 promote community
                                 development and (ii)
                                 prepare or assist
                                 current or potential
                                 borrowers or
                                 investees to use the
                                 CDFI's Financial
                                 Products or Financial
                                 Services. For
                                 example, such
                                 activities include
                                 financial or credit
                                 counseling;
                                 homeownership
                                 counseling; business
                                 planning; and
                                 management assistance.
v. Capital Reserves...........  Grant funds set aside   Regulated
                                 as reserves to          Institutions
                                 support the             only.
                                 Applicant's ability
                                 to leverage other
                                 capital, for such
                                 purposes as
                                 increasing its net
                                 assets or providing
                                 financing, or for
                                 related purposes as
                                 the CDFI Fund deems
                                 appropriate.
------------------------------------------------------------------------

[[Page 11828]]

 
  Only the greater of $200,000 or 15 percent of the CDFI Rapid Response
   Program grant may be expended in the below seven eligible activity
                               categories.
------------------------------------------------------------------------
vi. Compensation--Personal      Grant funds paid to     All.
 Services.                       cover all
                                 remuneration, paid
                                 currently or accrued,
                                 for services of
                                 Applicant's employees
                                 rendered during the
                                 Period of Performance
                                 under the CDFI Rapid
                                 Response Program
                                 grant in accordance
                                 with section 200.430
                                 of the Uniform
                                 Requirements.
                                Any work performed
                                 directly, but
                                 unrelated to the
                                 purposes of the CDFI
                                 Rapid Response
                                 Program grant may not
                                 be paid as
                                 Compensation using a
                                 CDFI Rapid Response
                                 Program grant. For
                                 example, the salaries
                                 for building
                                 maintenance personnel
                                 would not carry out
                                 the purpose of a CDFI
                                 Rapid Response
                                 Program grant and
                                 would be deemed
                                 unallowable.
vii. Compensation--Fringe       Grant funds paid to     All.
 Benefits.                       cover allowances and
                                 services provided by
                                 the Applicant to its
                                 employees as
                                 Compensation in
                                 addition to regular
                                 salaries and wages,
                                 in accordance with
                                 section 200.431 of
                                 the Uniform
                                 Requirements. Such
                                 expenditures are
                                 allowable as long as
                                 they are made under
                                 formally established
                                 and consistently
                                 applied
                                 organizational
                                 policies of the
                                 Applicant.
viii. Professional Service      Grant funds used to     All.
 Costs.                          pay for professional
                                 and consultant
                                 services (e.g., such
                                 as strategic and
                                 marketing plan
                                 development),
                                 rendered by persons
                                 who are members of a
                                 particular profession
                                 or possess a special
                                 skill (e.g., credit
                                 analysis, portfolio
                                 management), and who
                                 are not officers or
                                 employees of the
                                 Applicant, in
                                 accordance with
                                 section 200.459 of
                                 the Uniform
                                 Requirements. Payment
                                 for a consultant's
                                 services may not
                                 exceed the current
                                 maximum of the daily
                                 equivalent rate paid
                                 to an Executive
                                 Schedule Level IV
                                 Federal employee. The
                                 Applicant must
                                 comply, as
                                 applicable, with
                                 section 2 CFR 200.216
                                 of the Uniform
                                 Requirements, with
                                 respect to payment of
                                 Professional Service
                                 Costs.
ix. Travel Costs..............  Grant funds used to     All.
                                 pay costs of
                                 transportation,
                                 lodging, subsistence,
                                 and related items
                                 incurred by the
                                 Applicant's personnel
                                 who are on travel
                                 status on business
                                 related to the CDFI
                                 Rapid Response
                                 Program grant, in
                                 accordance with
                                 section 200.475 of
                                 the Uniform
                                 Requirements. Travel
                                 Costs do not include
                                 costs incurred by the
                                 Applicant's
                                 consultants who are
                                 on travel status. Any
                                 payments for travel
                                 expenses incurred by
                                 the Applicant's
                                 personnel but
                                 unrelated to carrying
                                 out the purpose of
                                 the CDFI Rapid
                                 Response Program
                                 grant would be deemed
                                 unallowable. As such,
                                 documentation must be
                                 maintained that
                                 justifies the travel
                                 as necessary to the
                                 CDFI Rapid Response
                                 Program grant.
x. Training and Education       Grant funds used to     All.
 Costs.                          pay the cost of
                                 training and
                                 education provided by
                                 the Applicant for
                                 employees'
                                 development in
                                 accordance with
                                 section 200.473 of
                                 the Uniform
                                 Requirements. Grant
                                 funds can only be
                                 used to pay for
                                 training costs
                                 incurred by the
                                 Applicant's
                                 employees. Training
                                 and Education Costs
                                 may not be incurred
                                 by the Applicant's
                                 consultants.
xi. Equipment.................  Grant funds used to     All.
                                 pay for tangible
                                 personal property,
                                 having a useful life
                                 of more than one year
                                 and a per-unit
                                 acquisition cost of
                                 at least $5,000, in
                                 accordance with
                                 section 200.1 of the
                                 Uniform Requirements.
                                 For example, items
                                 such as office
                                 furnishings and
                                 information
                                 technology systems
                                 are allowable as
                                 Equipment costs. The
                                 Applicant must
                                 comply, as
                                 applicable, with the
                                 Buy American Act of
                                 1933, 41 U.S.C. 8301-
                                 8303 and section 2
                                 CFR 200.216 of the
                                 Uniform Requirements,
                                 with respect to the
                                 purchase of Equipment.
xii. Supplies.................  Grant funds used to     All.
                                 pay for tangible
                                 personal property
                                 with a per unit
                                 acquisition cost of
                                 less than $5,000, in
                                 accordance with
                                 section 200.1 of the
                                 Uniform Requirements.
                                 For example, a
                                 desktop computer
                                 costing $1,000 is
                                 allowable as a Supply
                                 cost. The Applicant
                                 must comply, as
                                 applicable, with the
                                 Buy American Act of
                                 1933, 41 U.S.C. 8301-
                                 8303 and section 2
                                 CFR 200.216 of the
                                 Uniform Requirements,
                                 with respect to the
                                 purchase of Supplies.
------------------------------------------------------------------------
* All CDFI Rapid Response Program eligible activities must be in an
  Eligible Market or the Applicant's approved Target Market. Eligible
  Market is defined as (i) a geographic area meeting the requirements
  set forth in 12 CFR 1805.201(b)(3)(ii), or (ii) individuals that are
  Low-Income, African American, Hispanic, Native American, Native
  Hawaiians residing in Hawaii, Alaska Natives residing in Alaska, or
  Other Pacific Islanders residing in American Samoa, Guam or the
  Northern Mariana Islands.


[[Page 11829]]

III. Eligibility Information 
---------------------------------------------------------------------------

    \11\ Regulated Institutions include Insured Credit Unions, 
Insured Depository Institutions, State-Insured Credit Unions and 
Depository Institution Holding Companies.
---------------------------------------------------------------------------

    A. Eligible Applicants: For the purposes of this NOFA, the 
following tables set forth the eligibility criteria to receive an award 
from the CDFI Fund, along with certain definitions of terms. Table 4 
below illustrates eligibility criteria for all CDFI Rapid Response 
Program Applicants including CDFI certification criteria and other 
requirements that apply to all CDFI Rapid Response Program 
Applicants.\12\
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    \12\ Depository Institution Holding Company or DIHC means a Bank 
Holding Company or a Savings and Loan Holding Company.

  Table 4--Eligibility Requirements for All CDFI Rapid Response Program
                               Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Applicant.........................   Only the entity that will
                                     carry out the proposed award
                                     activities may apply for an award
                                     (other than Depository Institution
                                     Holding Companies (DIHC) \12\--see
                                     below). Recipients may not create a
                                     new legal entity to carry out the
                                     proposed award activities.
                                     The information in the
                                     Application should only reflect the
                                     activities of the Applicant,
                                     including the presentation of
                                     financial and portfolio
                                     information. Do not include
                                     financial or portfolio information
                                     from parent companies, Affiliates,
                                     or Subsidiaries in the Application
                                     unless it relates to the provision
                                     of Development Services.
                                     An Applicant that applies
                                     on behalf of another organization
                                     will be rejected without further
                                     consideration, other than
                                     Depository Institution Holding
                                     Companies (see below).
Application type and submission      Applicants must submit the
 overview through Grants.gov and     Required Application Documents
 Awards Management Information       listed in Table 5.
 System (AMIS).                      The CDFI Fund will only
                                     accept Applications that use the
                                     official Application templates
                                     provided on the Grants.gov and AMIS
                                     websites. Applications submitted
                                     with alternative or altered
                                     templates will not be considered.
                                     Applicants undergo a two-
                                     step process that requires the
                                     submission of Application documents
                                     by two separate deadlines in two
                                     different locations: (1) The SF-424
                                     in Grants.gov and (2) all other
                                     Required Application Documents in
                                     AMIS.
                                     Grants.gov and the SF-424:
                                       [cir] Grants.gov: Applicants must
                                        submit the Standard Form (SF) SF-
                                        424, Application for Federal
                                        Assistance.
                                       [cir] All Applicants must
                                        register in the Grants.gov
                                        system to successfully submit an
                                        Application. The CDFI Fund
                                        strongly encourages Applicants
                                        to register as soon as possible.
                                       [cir] The CDFI Fund will not
                                        extend the SF-424 application
                                        deadline for any Applicant that
                                        started the Grants.gov
                                        registration process on, before,
                                        or after the date of the
                                        publication of this NOFA, but
                                        did not complete it by the
                                        deadline except in the case of a
                                        Federal government
                                        administrative or Federal
                                        government technological error
                                        that directly resulted in a late
                                        submission of the SF-424.
                                       [cir] The SF-424 must be
                                        submitted in Grants.gov on or
                                        before the deadline listed in
                                        Table 1 and Table 6. Applicants
                                        are strongly encouraged to
                                        submit their SF-424 as early as
                                        possible in the Grants.gov
                                        portal.
                                       [cir] The deadline for the
                                        Grants.gov submission is before
                                        the AMIS submission deadline.
                                       [cir] The SF-424 must be
                                        submitted under the CDFI Rapid
                                        Response Program Funding
                                        Opportunity Number for the CDFI
                                        Rapid Response Program
                                        Application.
                                       [cir] If the SF-424 is not
                                        accepted by Grants.gov by the
                                        deadline, the CDFI Fund will not
                                        review any material submitted in
                                        AMIS and the Application will be
                                        deemed ineligible.
                                     AMIS and all other Required
                                     Application Documents listed in
                                     Table 5:
                                       [cir] AMIS is an enterprise-wide
                                        information technology system.
                                        Applicants will use AMIS to
                                        submit and store organization
                                        and Application information with
                                        the CDFI Fund.
                                       [cir] Applicants are only allowed
                                        one CDFI Rapid Response Program
                                        Application submission in AMIS.
                                       [cir] Each Application in AMIS
                                        must be signed by an Authorized
                                        Representative.
                                       [cir] Applicants must ensure that
                                        the Authorized Representative is
                                        an employee or officer of the
                                        Applicant, authorized to sign
                                        legal documents on behalf of the
                                        organization. Consultants
                                        working on behalf of the
                                        organization may not be
                                        designated as Authorized
                                        Representatives.
                                       [cir] Only the Authorized
                                        Representative or Application
                                        Point of Contact, included in
                                        the Application, may submit the
                                        Application in AMIS.
                                       [cir] All Required Application
                                        Documents must be submitted in
                                        AMIS on or before the deadline
                                        specified in Tables 1 and 6.
                                       [cir] The CDFI Fund will not
                                        extend the deadline for any
                                        Applicant except in the case of
                                        a Federal government
                                        administrative or technological
                                        error that directly resulted in
                                        the late submission of the
                                        Application in AMIS.
Employer Identification Number       Applicants must have a
 (EIN).                              unique EIN assigned by the Internal
                                     Revenue Service (IRS).
                                     The CDFI Fund will reject
                                     an Application submitted with the
                                     EIN of a parent or Affiliate
                                     organization.
                                     The EIN in the Applicant's
                                     AMIS account must match the EIN in
                                     the Applicant's System for Award
                                     Management (SAM) account. The CDFI
                                     Fund reserves the right to reject
                                     an Application if the EIN in the
                                     Applicant's AMIS account does not
                                     match the EIN in its SAM account.
                                     Applicants must enter their
                                     EIN into their AMIS profile by the
                                     deadline specified in Tables 1 and
                                     6.
Dun & Bradstreet, (DUNS) number...   Pursuant to OMB guidance
                                     (68 FR 38402), an Applicant must
                                     apply using its unique DUNS number
                                     in Grants.gov.
                                     The CDFI Fund will reject
                                     an Application submitted with the
                                     DUNS number of a parent or
                                     Affiliate organization.

[[Page 11830]]

 
                                     The DUNS number in the
                                     Applicant's AMIS account must match
                                     the DUNS number in the Applicant's
                                     Grants.gov and SAM accounts. The
                                     CDFI Fund will reject an
                                     Application if the DUNS number in
                                     the Applicant's AMIS account does
                                     not match the DUNS number in its
                                     Grants.gov and SAM accounts.
                                     Applicants must enter their
                                     DUNS number into their AMIS profile
                                     on or before the deadline specified
                                     in Tables 1 and 6.
System for Award Management (SAM).   SAM is a web-based,
                                     government-wide application that
                                     collects, validates, stores, and
                                     disseminates business information
                                     about the federal government's
                                     trading partners in support of the
                                     contract awards, grants, and
                                     electronic payment processes.
                                     Applicants must register in
                                     SAM as part of the Grants.gov
                                     registration process.
                                     Applicants must have a DUNS
                                     number and an EIN number in order
                                     to register in SAM.
                                     Applicants must be
                                     registered in SAM in order to
                                     submit an SF-424 in Grants.gov.
                                     The CDFI Fund reserves the
                                     right to deem an Application
                                     ineligible if the Applicant's SAM
                                     account expires during the
                                     Application evaluation period, or
                                     is set to expire before September
                                     30, 2021, and the Applicant does
                                     not re-activate, or renew, as
                                     applicable, the account within the
                                     deadlines that the CDFI Fund
                                     communicates to affected Applicants
                                     during the Application evaluation
                                     period.
AMIS Account......................   The Authorized
                                     Representative and/or Application
                                     Point of Contact must be included
                                     as ``users'' in the Applicant's
                                     AMIS account.
                                     An Applicant that fails to
                                     properly update its AMIS account
                                     may miss important communication
                                     from the CDFI Fund and/or may not
                                     be able to successfully submit an
                                     Application.
501(c)(4) status..................   Pursuant to 2 U.S.C. 1611,
                                     any 501(c)(4) organization that
                                     engages in lobbying activities is
                                     not eligible to receive a CDFI
                                     Rapid Response Program grant.
Compliance with Nondiscrimination    An Applicant may not be
 and Equal Opportunity Statutes,     eligible to receive an award if
 Regulations, and Executive Orders.  proceedings have been instituted
                                     against it in, by, or before any
                                     court, governmental agency, or
                                     administrative body, and a final
                                     determination within the last three
                                     years indicates the Applicant has
                                     violated any of the following laws,
                                     including but not limited to: Title
                                     VI of the Civil Rights Act of 1964,
                                     as amended (42 U.S.C. 2000d);
                                     Section 504 of the Rehabilitation
                                     Act of 1973 (29 U.S.C. 794); the
                                     Age Discrimination Act of 1975, (42
                                     U.S.C. 6101-6107), and Executive
                                     Order 13166, Improving Access to
                                     Services for Persons with Limited
                                     English Proficiency.
Depository Institution Holding       In the case where a CDFI
 Company Applicant.                  Depository Institution Holding
                                     Company Applicant intends to carry
                                     out the activities of an award
                                     through its Subsidiary CDFI Insured
                                     Depository Institution, the
                                     Application must be submitted by
                                     the CDFI Depository Institution
                                     Holding Company and reflect the
                                     activities and financial
                                     performance of the Subsidiary CDFI
                                     Insured Depository Institution.
                                     If a Depository Institution
                                     Holding Company and its Certified
                                     CDFI Subsidiary Insured Depository
                                     Institution both apply for a CDFI
                                     Rapid Response Program grant, only
                                     the Depository Institution Holding
                                     Company will receive an award, not
                                     both. In such instances, the
                                     Subsidiary Insured Depository
                                     Institution will be deemed
                                     ineligible.
                                     Authorized Representatives
                                     of both the Depository Institution
                                     Holding Company and the Subsidiary
                                     CDFI Insured Depository Institution
                                     must certify that the information
                                     included in the Application
                                     represents that of the Subsidiary
                                     CDFI Insured Depository
                                     Institution, and that the CDFI RRP
                                     grant will be used to support the
                                     Subsidiary CDFI Insured Depository
                                     Institution for the eligible
                                     activities outlined in the
                                     Application.
Use of award......................   All awards made through
                                     this NOFA must be used to support
                                     the Applicant's activities in at
                                     least one of the Eligible Activity
                                     Categories (see Section II.(C)).
                                     With the exception of
                                     Depository Institution Holding
                                     Company Applicants, awards may not
                                     be used to support the activities
                                     of, or otherwise be passed through,
                                     transferred, or co-awarded to,
                                     third-party entities, whether
                                     Affiliates, Subsidiaries, or
                                     others, unless done pursuant to a
                                     merger or acquisition or similar
                                     transaction, and with the CDFI
                                     Fund's prior written consent. The
                                     Recipient of any award made through
                                     this NOFA must comply, as
                                     applicable, with the Buy American
                                     Act of 1933, 41 U.S.C. 8301-8303
                                     and section 2 CFR 200.216 of the
                                     Uniform Requirements, with respect
                                     to any Direct Costs.
Requested award amount............   An Applicant must state its
                                     requested award amount in the
                                     Application in AMIS. An Applicant
                                     that does not include this amount
                                     will not be allowed to submit an
                                     Application.
                                     An Applicant may not
                                     request more than 150% of the
                                     dollar volume of its Total On-
                                     Balance Sheet Financial Products
                                     Closed in Eligible Markets and/or
                                     Target Markets for its most recent
                                     historic fiscal year, with the
                                     following exception: An Applicant
                                     with Total On-Balance Sheet
                                     Financial Products Closed in
                                     Eligible Markets and/or Target
                                     Markets of less than $133,334 for
                                     its most recent historic fiscal
                                     year may request the minimum award
                                     size.
Pending resolution of                The CDFI Fund will consider
 noncompliance.                      an Application submitted by an
                                     Applicant that has pending
                                     noncompliance issues on any of its
                                     previously executed award
                                     agreement(s), if the CDFI Fund has
                                     not yet made a final compliance
                                     determination.
Noncompliance or default status...   The CDFI Fund will not
                                     consider an Application submitted
                                     by an Applicant that has a
                                     previously executed award
                                     agreement(s) if, as of the date of
                                     the Application, (i) the CDFI Fund
                                     has made a final determination that
                                     such entity is noncompliant or
                                     found in default with a 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.
                                     The CDFI Fund will not
                                     consider any Applicant that has
                                     defaulted on a loan from the CDFI
                                     Fund within five years of the
                                     Application deadline.

[[Page 11831]]

 
Debarment/Do Not Pay Verification.   The CDFI Fund will conduct
                                     a debarment check and will not
                                     consider an Application submitted
                                     by an Applicant if the Applicant
                                     (or Affiliate of an 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.
CDFI Certification Status.........   Each CDFI Rapid Response
                                     Program Applicant must be a
                                     Certified CDFI as of the
                                     publication date of this NOFA in
                                     the Federal Register.
                                     The CDFI Fund will consider
                                     an Application submitted by an
                                     Applicant that has pending
                                     noncompliance issues with its
                                     Annual Certification Report if the
                                     CDFI Fund has not yet made a final
                                     compliance determination.
                                     If a Certified CDFI loses
                                     its certification at any point
                                     prior to the award announcement,
                                     the Application will be deemed
                                     ineligible and no longer be
                                     considered by the CDFI Fund.
Regulated Institution.............   Each Regulated Institution
                                     CDFI Rapid Response Program
                                     Applicant must have a CAMELS/CAMEL
                                     rating (rating for banks and credit
                                     unions, respectively) or equivalent
                                     type of rating by its regulator
                                     (collectively referred to as
                                     ``CAMELS/CAMEL rating'') of at
                                     least ``4''.
                                     CDFI Rapid Response Program
                                     Applicants with CAMELS/CAMEL
                                     ratings of ``5'' will not be
                                     eligible for awards.
                                     The CDFI Fund will not
                                     approve a CDFI Rapid Response
                                     Program award for an Applicant that
                                     has a Community Reinvestment Act
                                     (CRA) assessment rating of below
                                     ``Satisfactory'' on its most recent
                                     examination. Applicants and/or
                                     their Appropriate Federal Banking
                                     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 CDFI Rapid Response
                                     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 CDFI Rapid Response
                                     Program award during the Period of
                                     Performance.
                                     The CDFI Fund will also
                                     evaluate material concerns
                                     identified by the Appropriate
                                     Federal Banking Agency in
                                     determining the eligibility of
                                     Regulated Institution Applicants.
------------------------------------------------------------------------

IV. Application and Submission Information

    A. Address to Request an Application Package: Application materials 
can be found on the CDFI Fund's website at www.cdfifund.gov. Applicants 
may request a paper version of any Application material by contacting 
the CDFI Fund Help Desk at [email protected]. Paper versions of 
Application materials will only be provided if an Applicant cannot 
access the CDFI Fund's website.
    B. Content and Form of Application Submission: All Applications 
must be prepared using the English language, and calculations must be 
computed in U.S. dollars. The following table lists the Required 
Application Documents for the CDFI Rapid Response Program Funding 
Round. The CDFI Fund reserves the right to request and review other 
pertinent or public information that has not been specifically 
requested in this NOFA or the Application. Information submitted by the 
Applicant that the CDFI Fund has not specifically requested will not be 
reviewed or considered as part of the Application. Financial data, 
portfolio, and activity information provided in the Application should 
only include the Applicant's activities. Information submitted must 
accurately reflect the Applicant's activities.

                                     Table 5--Required Application Documents
----------------------------------------------------------------------------------------------------------------
               Application documents                          Applicant type               Submission format
----------------------------------------------------------------------------------------------------------------
Active AMIS Account................................  All Applicants.................  AMIS.
SF-424.............................................  All Applicants.................  Fillable PDF in
                                                                                       Grants.gov.
CDFI Rapid Response Program Application Components:  All Applicants.................  AMIS.
     Funding Application Detail
     Data and Charts as listed in AMIS and
     outlined in Application materials
----------------------------------------------------------------------------------------------------------------
           ATTACHMENTS TO THE APPLICATION: Add to ``Related Attachments'' related list in Application
----------------------------------------------------------------------------------------------------------------
Audited financial statements for the Applicant's     CDFI Rapid Response Program      PDF in AMIS.
 Three Most Recent Historic Fiscal Years.             Applicants: if available: loan
                                                      funds, Venture Capital Funds,
                                                      and other non-Regulated
                                                      Institutions.

[[Page 11832]]

 
Management Letter for the Applicant's Most Recent    CDFI Rapid Response Program      PDF in AMIS.
 Historic Fiscal Year.                                Applicants, if audited
The Management Letter is prepared by the              financial statements are
 Applicant's auditor and is a communication on        available: Loan funds, Venture
 internal control over financial reporting,           Capital Funds, and other non-
 compliance, and other matters. The Management        Regulated Institutions.
 Letter contains the auditor's findings regarding
 the Applicant's accounting policies and
 procedures, internal controls, and operating
 policies, including any material weaknesses,
 significant deficiencies, and other matters
 identified during auditing. The Management Letter
 may include suggestions for improving on
 identified weaknesses and deficiencies and/or best
 practice suggestions for items that may not be
 considered to be weaknesses or deficiencies. The
 Management Letter may also include items that are
 not required to be disclosed in the annual audited
 financial statements. The Management Letter is
 distinct from the auditor's Opinion Letter, which
 is required by Generally Accepted Accounting
 Principles (GAAP). Management Letters are not
 required by GAAP, and are sometimes provided by
 the auditor as a separate letter from the audit
 itself.
Statement in Lieu of Management Letter for           CDFI Rapid Response Program      AMIS.
 Applicant's Most Recent Historic Fiscal Year         Applicants if audited
 issued by the Board Treasurer or other Board         financial statements are
 member using the template provided in the            available but a Management
 Application materials (required only if Management   Letter is not available: Loan
 Letters are not available for audited financial      funds, Venture Capital Funds,
 statements).                                         and other non-Regulated
                                                      Institutions.
Unaudited financial statements for Applicant's       CDFI Rapid Response Program      PDF in AMIS.
 Three Most Recent Historic Years (required only if   Applicants: Loan funds,
 audited financial statements are not available).     Venture Capital Funds, and
                                                      other non-Regulated
                                                      Institutions.
Current Year to Date--December 31, 2020 Unaudited    CDFI Rapid Response Program      PDF in AMIS.
 financial statements.                                Applicants: Loan funds,
                                                      Venture Capital Funds, and
                                                      other non-Regulated
                                                      Institutions.
----------------------------------------------------------------------------------------------------------------

    C. Application Submission: The CDFI Fund has a two-step process 
that requires the submission of Required Application Documents (listed 
in Table 5) on separate deadlines and locations. The SF-424 must be 
submitted through Grants.gov and all other Required Application 
Documents through the AMIS portal. The CDFI Fund will not accept 
Applications via email, mail, facsimile, or other forms of 
communication, except in extremely rare circumstances that have been 
pre-approved in writing by the CDFI Fund. The deadline for submitting 
the SF-424 is listed in Tables 1 and 6.
    All Applicants must register in the Grants.gov system to 
successfully submit the SF-424. The CDFI Fund strongly encourages 
Applicants to start the Grants.gov registration process as soon as 
possible (refer to the following link: http://www.grants.gov/web/grants/register.html). The Grants.gov registration process requires 
Applicants to have DUNS and EIN numbers.
    The CDFI Fund will not extend the Application deadline for any 
Applicant that started the Grants.gov registration process but did not 
complete it by the deadline. An Applicant that has previously 
registered with Grants.gov must verify that its registration is current 
and active. Applicants should contact Grants.gov directly with 
questions related to the registration or submission process as the CDFI 
Fund does not maintain the Grants.gov system.
    Each Application must be signed by a designated Authorized 
Representative in AMIS before it can be submitted. Applicants must 
ensure that an Authorized Representative is an employee or officer and 
is authorized to sign legal documents on behalf of the Applicant. 
Consultants working on behalf of the Applicant may not be designated as 
Authorized Representatives. Only a designated Authorized Representative 
or Application Point of Contact, included in the Application, may 
submit the Application in AMIS. If an Authorized Representative or 
Application Point of Contact does not submit the Application, the 
Application will be deemed ineligible.
    D. Dun & Bradstreet Universal Numbering System: Pursuant to the 
Uniform Requirements, each Applicant must provide as part of its 
Application submission, a Dun and Bradstreet Universal Numbering System 
(DUNS) number. Applicants without a DUNS number will not be able to 
register and submit an Application in the Grants.gov system. Allow 
sufficient time for Dun & Bradstreet to respond to inquiries and/or 
requests for DUNS numbers.
    E. System for Award Management (SAM): Any entity applying for 
Federal grants or other forms of Federal financial assistance through 
Grants.gov must be registered in SAM before submitting its Application. 
Registration in SAM is required as part of the Grants.gov registration 
process. A signed notarized letter identifying the SAM authorized 
entity administrator for the entity associated with the DUNS number is 
required. This requirement is applicable to new entities registering in 
SAM, as well as to existing entities with registrations being updated 
or renewed in SAM. Applicants without DUNS and/or EIN numbers should 
allow for additional time as an Applicant cannot register in SAM 
without those required numbers. Applicants that have previously 
completed the SAM registration process must verify that their SAM 
accounts are current and active. Each Applicant must continue to 
maintain an active SAM registration with current information at all 
times during which it has an active Federal award or an Application 
under consideration by a Federal awarding agency. The CDFI Fund will 
deem ineligible any Applicant that fails to properly register or 
activate its SAM account and, as a result, is unable to submit the SF-
424 in Grants.gov or Application in AMIS by the applicable Application 
deadlines. These restrictions also apply to organizations that have not 
yet received a DUNS or

[[Page 11833]]

EIN number. Applicants must contact SAM directly with questions related 
to registration or SAM account changes as the CDFI Fund does not 
maintain this system and has no ability to make changes or correct 
errors of any kind. For more information about SAM, visit https://www.sam.gov.
    F. Submission Dates and Times:
    1. Submission Deadlines: The following table provides the critical 
deadlines for the CDFI Rapid Response Program Funding Round.

                     Table 6--CDFI Rapid Response Program Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
            Description                      Deadline             Time (eastern time- ET)     Submission method
----------------------------------------------------------------------------------------------------------------
Last day to enter EIN and DUNS      March 22, 2021............  11:59 p.m.................  AMIS.
 numbers in AMIS.
Last day to submit SF-424           March 22, 2021............  11:59 p.m.................  Electronically via
 Mandatory (Application for                                                                  Grants.gov.
 Federal Assistance).
Last day to contact CDFI Fund with  March 23, 2021............  5:00 p.m..................  Service Request via
 questions about the CDFI Rapid                                                              AMIS or CDFI Fund
 Response Program.                                                                           Helpdesk: 202-653-
                                                                                             0421.
Last day to contact AMIS-IT Help    March 25, 2021............  5:00 p.m..................  Service Request via
 Desk (regarding AMIS technical                                                              AMIS or 202-653-
 problems only).                                                                             0422 or
                                                                                             [email protected]
                                                                                             .
Last day to submit CDFI Rapid       March 25, 2021............  11:59 p.m.................  AMIS.
 Response Program Application.
----------------------------------------------------------------------------------------------------------------

    2. Confirmation of Application Submission in Grants.gov and AMIS: 
Applicants are required to submit the SF-424, Application for Federal 
Assistance through the Grants.gov system, under the CDFI Rapid Response 
Program Funding Opportunity Number by the applicable deadline. All 
other Required Application Documents (listed in Table 5) must be 
submitted through the AMIS website by the applicable deadline. 
Applicants must submit the SF-424 prior to submitting the Application 
in AMIS. If the SF-424 is not successfully accepted by Grants.gov by 
the deadline, the CDFI Fund will not review the Application submitted 
in AMIS, and the Application will be deemed ineligible.
    a. Grants.gov Submission Information: Each Applicant will receive 
an email from Grants.gov immediately after submitting the SF-424 
confirming that the submission has entered the Grants.gov system. This 
email will contain a tracking number for the submitted SF-424. Within 
48 hours, the Applicant will receive a second email, which will 
indicate if the submitted SF-424 was either successfully validated or 
rejected with errors. However, Applicants should not rely on the email 
notification from Grants.gov to confirm that their SF-424 was 
validated. Applicants are strongly encouraged to use the tracking 
number provided in the first email to closely monitor the status of 
their SF-424 by contacting the helpdesk at Grants.gov directly. The 
Application material submitted in AMIS is not officially accepted by 
the CDFI Fund until Grants.gov has validated the SF-424.
    b. AMIS Submission Information: AMIS is a web-based portal where 
Applicants will directly enter their Application information and add 
the required attachments listed in Table 5. AMIS will verify that the 
Applicant provided the minimum information required to submit an 
Application. Applicants are responsible for the quality and accuracy of 
the information and attachments included in the Application submitted 
in AMIS. The CDFI Fund strongly encourages Applicants to allow for 
sufficient time to review and complete the Application components and 
documents included in Table 5, and remedy any issues prior to the 
Application deadline. Each Application must be signed by an Authorized 
Representative in AMIS before it can be submitted. Applicants must 
ensure that the Authorized Representative is an employee or officer and 
is authorized to sign legal documents on behalf of the Applicant. 
Consultants working on behalf of the Applicant may not be designated as 
Authorized Representatives. Only an Authorized Representative or an 
Application Point of Contact may submit an Application. If an 
Authorized Representative or Application Point of Contact does not 
submit the Application, the Application will be deemed ineligible. 
Applicants may only submit one CDFI Rapid Response Program Application. 
Upon submission, the Application will be locked and cannot be 
resubmitted, edited, or modified in any way. The CDFI Fund will not 
unlock or allow multiple Application submissions.
    3. Late Submission: The CDFI Fund will not accept an Application if 
the SF-424 is not submitted and accepted by Grants.gov by the SF-424 
deadline. Additionally, the CDFI Fund will not accept an Application if 
it is not signed by an Authorized Representative and submitted in AMIS 
by the Application deadline. In either case, the CDFI Fund will not 
review any material submitted, and the Application will be deemed 
ineligible.
    However, in cases where a Federal government administrative or 
Federal government technological error directly resulted in a late 
submission of the SF-424 or the Application, Applicants are provided 
two opportunities to submit a written request for acceptance of late 
submissions. The CDFI Fund will not consider the late submission of the 
SF-424 or the Application that was a direct result of a delay in a 
Federal Government process, unless such delay was the result of a 
Federal government administrative or Federal government technological 
error.
    a. SF-424 Late Submission: In cases where a Federal government 
administrative or Federal government technological error directly 
resulted in the late submission of the SF-424, the Applicant must 
submit a written request for acceptance of the late SF-424 submission 
and include documentation of the error no later than two business days 
after the SF-424 deadline. The CDFI Fund will not respond to requests 
for acceptance of late SF-424 submissions after that time period. 
Applicants must submit late SF-424 submission requests to the CDFI Fund 
via an AMIS Service Request to the CDFI Program with a subject line of 
``Late SF-424 Submission Request.''
    b. AMIS Application Late Submission: In cases where a Federal 
government administrative or Federal government technological error 
directly resulted in a late submission of the Application in AMIS, the 
Applicant must submit a written request for acceptance of the late 
Application submission and include documentation of the error no later 
than two business days after the Application deadline. The

[[Page 11834]]

CDFI Fund will not respond to requests for acceptance of late 
Application submissions after that time period. Applicants must submit 
late Application submission requests to the CDFI Fund via an AMIS 
Service Request to the CDFI Program with a subject line of ``Late 
Application Submission Request.''
    G. Funding Restrictions: CDFI Rapid Response Program grants are 
limited by the following:
    a. A Recipient shall use CDFI Rapid Response Program funds only for 
the eligible activities described in Section II. (C)(1) of this NOFA 
and its Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, CDFI Rapid Response Program grants may not be used to 
support the activities of, or otherwise be passed through, transferred, 
or co-awarded to, third-party entities, whether Affiliates, 
Subsidiaries, or others, unless done pursuant to a merger or 
acquisition or similar transaction, and with the CDFI Fund's prior 
written consent.
    c. CDFI Rapid Response Program funds shall only be paid to the 
Recipient.
    d. The CDFI Fund, in its sole discretion, may pay CDFI Rapid 
Response Program funds in amounts, or under terms and conditions, which 
are different from those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Requirements, with respect to any Direct Costs.

V. Application Review Information

    A. Criteria: If the Applicant has submitted an 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 purpose of clarifying or 
confirming Application information. If contacted, the Applicant must 
respond within the time period communicated by the CDFI Fund or the 
Application may be rejected. The CDFI Fund will review the CDFI Rapid 
Response Program Applications in accordance with the process below. All 
reviewers will complete the CDFI Fund's conflict of interest process. 
The CDFI Fund's Application conflict of interest policy is located on 
the CDFI Fund's website.
    1. CDFI Rapid Response Program Application Scoring, Award 
Selection, Review, and Selection Process: The CDFI Fund will evaluate 
each Application using a four-step review process described in the 
sections below. Applicants that meet the minimum criteria will advance 
to the next step in the review process.
    a. Step 1: Eligibility Review: The CDFI Fund will evaluate each 
Application to determine its eligibility status pursuant to Section III 
of this NOFA.
    b. Step 2: Financial Analysis and Compliance Risk Evaluation:
    i. Step 2(a): Financial Analysis: For Regulated Institutions, the 
CDFI Fund will consider financial safety and soundness information from 
the Appropriate Federal or State Banking Agency. As detailed in Table 
4, each Regulated Institution CDFI Rapid Response Program Applicant 
must have a CAMELS/CAMEL rating of at least ``4'' and/or no significant 
materials concerns from its regulator.
    For non-regulated Applicants, the CDFI Fund will evaluate the 
financial health and viability of each non-regulated Applicant using 
financial information provided by the Applicant. For the Financial 
Analysis, each non-regulated Applicant will receive a Total Financial 
Composite Score on a scale of one (1) to five (5), with one (1) being 
the highest rating. The Total Financial Composite Score is based on the 
analysis of twenty-three (23) financial indicators. Applications will 
be grouped based on the Total Financial Composite Score. Applicants 
must receive a Total Financial Composite Score of one (1), two (2), 
three (3), or four (4) to advance to Step 3. Applicants that receive a 
Total Financial Composite Score of five (5) will not advance to Step 3.
    ii. Step 2(b): Compliance Risk Evaluation: For the compliance 
analysis, the CDFI Fund will evaluate the compliance risk of each 
Applicant using information provided in the Application as well as an 
Applicant's reporting history, reporting capacity, and performance risk 
with respect to the CDFI Fund's PG&Ms. Each Applicant will receive a 
Total Compliance Composite Score on a scale of one (1) to five (5), 
with one (1) being the highest rating. Applicants that receive an 
initial Total Compliance Composite Score of four (4) or five (5) will 
be confirmed by CDFI Fund Staff. If the Applicant is deemed a high 
compliance risk (score of a 4 or 5) after the CDFI Fund reviews, the 
Applicant will not advance to Step 3.
    c. Step 3: Final Award Decision: The CDFI Fund will conduct a due 
diligence review to evaluate each CDFI Rapid Response Program 
Application to ensure its adherence with the CDFI Fund's policies and 
procedures as well as applicable Federal regulations. The due diligence 
review includes an analysis of programmatic risk factors including but 
not limited to financial stability; history of performance in managing 
Federal awards (including timeliness of reporting and compliance); 
audit or regulator findings; and the Applicant's ability to effectively 
implement Federal requirements. If an Applicant is found to be a 
significant risk as a result of this due diligence review, the CDFI 
Fund may eliminate the Applicant from consideration for a CDFI Rapid 
Response Program grant or may reduce the Applicant's award size. The 
CDFI Fund also reserves the right to reduce the award size for 
Applicants that have a CAMEL/CAMELS, or equivalent, rating of four (4) 
or Total Financial Composite Score of four (4) during the due diligence 
review.
    d. Step 4: Award Amount Determination: The CDFI Fund determines an 
award amount for each Application using a formula-based approach based 
on the due diligence performed, the Applicant's requested amount, and 
certain other factors, including but not limited to, the Applicant's 
deployment track record, minimum award size, submission of audited 
financial statements, amount targeted to a Native Community, and 
funding availability. Award amounts may be reduced from the requested 
award amount as a result of the above factors. All approved Applicants 
will be awarded at least the minimum award amount noted in Table 2. 
Award sizes for Applicants without audited financial statements will be 
limited to no more than $200,000. The funding available will be split 
among successful Applicants using a formula approach that ensures the 
following: (i) an Applicant's final award amount does not exceed its 
requested award amount, (ii) an Applicant's final award amount does not 
exceed either (a) 150% of the dollar volume of its Total On-Balance 
Sheet Financial Products Closed in Eligible Markets and/or Target 
Markets for its most recent historic fiscal year, or (b) the minimum 
award size ($200,000), whichever is greater, (iii) an Applicant's final 
award amount does not exceed $200,000 if it does not have audited 
financial statements, (iv) an Applicant's award amount is adjusted 
based on the due diligence review, and (v) a minimum of $25 million of 
the total CDFI Rapid Response Program funds awarded are allocated to 
benefit Native Communities.

[[Page 11835]]

    Based on the anticipated formula, the CDFI Fund does not anticipate 
that any applicant will receive the maximum award amount of $5 million. 
The award is dependent on the number of awards made, for example: if 
there are 510 awards, the estimated largest award would be $3.3 
million; if there are 800 awards, the estimated largest award would be 
$1.8 million; and if there are 1,050 awards, the estimated largest 
award would be $1.4 million.
    2. Regulated Institutions: The CDFI Fund will consider safety and 
soundness information from the Appropriate Federal or State Banking 
Agency. If the Applicant is a CDFI Depository Institution Holding 
Company, the CDFI Fund will consider information provided by the 
Appropriate Federal or State Banking Agencies about both the CDFI 
Depository Institution Holding Company and the Certified CDFI 
Subsidiary Insured Depository Institution that will expend and carry 
out the award. If the Appropriate Federal or State Banking Agency 
identifies safety and soundness concerns, the CDFI Fund will assess 
whether such concerns cause or will cause the Applicant to be incapable 
of undertaking the activities for which funding has been requested.
    3. Non-Regulated Institutions:
    The CDFI Fund must ensure, to the maximum extent practicable, that 
Recipients which are non-regulated CDFIs are financially and 
managerially sound, and maintain appropriate internal controls (12 
U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). Further, the CDFI Fund 
must determine that an Applicant's capacity to operate as a CDFI and 
its continued viability will not be dependent upon assistance from the 
CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is determined that the 
Applicant is incapable of meeting these requirements, the CDFI Fund 
reserves the right to deem the Applicant ineligible or terminate the 
award.
    B. Anticipated Award Announcement: The CDFI Fund anticipates making 
the CDFI Rapid Response Program award announcement before September 30, 
2021. However, the anticipated award Announcement Date is subject to 
change without notice.
    C. Application Rejection: The CDFI Fund reserves the right to 
reject an Application if information (including administrative errors) 
comes to the CDFI Fund's attention that: Adversely affects an 
Applicant's eligibility for an award; adversely affects the Recipient's 
certification as a CDFI (to the extent that the award is conditional 
upon CDFI certification); adversely affects the CDFI Fund's evaluation 
or scoring of an Application; or indicates fraud or mismanagement on 
the Applicant's part. If the CDFI Fund determines any portion of the 
Application is incorrect in a material respect, the CDFI Fund reserves 
the right, in its sole discretion, to reject the Application. The CDFI 
Fund reserves the right to change its eligibility and evaluation 
criteria and procedures, if the CDFI Fund deems it appropriate. If the 
changes materially affect the CDFI Fund's award decisions, the CDFI 
Fund will provide information about the changes through its website. 
The CDFI Fund's award decisions are final, and there is no right to 
appeal decisions.

VI. Federal Award Administration Information

    A. Award Notification: Each successful Applicant will receive an 
email ``notice of award'' notification from the CDFI Fund stating that 
its Application has been approved for an award. Each Applicant not 
selected for an award will receive an email stating that a debriefing 
notice has been provided in its AMIS account.
    B. Assistance Agreement: Each Applicant selected to receive an 
award must enter into an Assistance Agreement with the CDFI Fund in 
order to receive a payment(s). The Assistance Agreement will set forth 
the award's terms and conditions, including but not be limited to the: 
(i) Award amount; (ii) award type; (iii) award uses; (iv) eligible use 
of funds; (v) PG&Ms and (vi) reporting requirements. CDFI Rapid 
Response Program Assistance Agreements have two-year Periods of 
Performance.
    1. Certificate of Good Standing: All CDFI Rapid Response Program 
Recipients that are not Regulated Institutions will be required to 
provide the CDFI Fund with a certificate of good standing from the 
secretary of state for the Recipient's jurisdiction of formation prior 
to closing. This certificate can often be acquired online on the 
secretary of state website for the Recipient's jurisdiction of 
formation and must generally be dated within 180 days prior to the date 
the Recipient executes the Assistance Agreement. Due to potential 
backlogs in state government offices, Applicants are advised to submit 
requests for certificates of good standing around the time they submit 
their Applications.
    2. Closing: Pursuant to the Assistance Agreement, there will be an 
initial closing at which point the Assistance Agreement and related 
documents will be properly executed and delivered, and an initial 
payment CDFI Rapid Response Program funds may be made. The first 
payment is the estimated amount of the award that the Recipient states 
in its Application that it will use for eligible CDFI Rapid Response 
Program activities in the first 12 months after the award announcement. 
The CDFI Fund reserves the right to increase the first payment amount 
to ensure that any subsequent payment is at least $25,000.
    The CDFI Fund will minimize the time between the Recipient 
incurring costs for eligible activities and award payment(s) in 
accordance with the Uniform Requirements. Advanced payments for 
eligible activities will occur no more than one year in advance of the 
Recipient incurring costs for the eligible activities. Following the 
initial closing, there may be subsequent closings involving additional 
award payments. There will be a limit of two additional award payments. 
Any documentation in addition to the Assistance Agreement that is 
connected with such subsequent closings and payments shall be properly 
executed and timely delivered by the Recipient to the CDFI Fund.
    3. Requirements Prior to Entering into an Assistance Agreement: If, 
prior to entering into an Assistance Agreement, information (including 
administrative errors) comes to the CDFI Fund's attention that: 
Adversely affects the Recipient's eligibility for an award; adversely 
affects the Recipient's certification as a CDFI; adversely affects the 
CDFI Fund's evaluation of the Application; indicates that the Recipient 
is not in compliance with any requirement listed in the Uniform 
Requirements; indicates that the Recipient is not in compliance with a 
term or condition of a prior CDFI Fund award; indicates the Recipient 
has failed to execute and return a prior round Assistance Agreement to 
the CDFI Fund within the CDFI Fund's deadlines; or indicates fraud or 
mismanagement on the Recipient's part, the CDFI Fund may, in its 
discretion and without advance notice to the Recipient, terminate the 
award or take such other actions as it deems appropriate. The CDFI Fund 
reserves the right, in its sole discretion, to rescind an award if the 
Recipient fails to return the Assistance Agreement, signed by the 
Authorized Representative of the Recipient, and/or provide the CDFI 
Fund with any requested documentation, within the CDFI Fund's 
deadlines.
    In addition, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Assistance Agreement and the 
award made under this NOFA pending the criteria described in the 
following table:

[[Page 11836]]



    Table 7--Requirements Prior To Executing an Assistance Agreement
------------------------------------------------------------------------
            Requirement                           Criteria
------------------------------------------------------------------------
Failure to meet reporting            If a Recipient received a
 requirements.                       prior award under any CDFI Fund
                                     program and is not in compliance
                                     with the reporting requirements of
                                     the previously executed
                                     agreement(s), the CDFI Fund may
                                     delay entering into an Assistance
                                     Agreement or disbursing an award
                                     until such reporting requirements
                                     are met. If the Recipient is unable
                                     to meet the requirement(s) within
                                     the timeframe specified by the CDFI
                                     Fund, the CDFI Fund may terminate
                                     and rescind the Assistance
                                     Agreement and the award made under
                                     this NOFA.
                                     The automated systems the
                                     CDFI Fund uses only acknowledge a
                                     report's receipt and are not a
                                     determination of meeting reporting
                                     requirements.
Failure to maintain CDFI             A CDFI Rapid Response
 Certification.                      Program Recipient must be a
                                     Certified CDFI.
                                     If a CDFI Rapid Response
                                     Program Recipient fails to maintain
                                     CDFI certification, the CDFI Fund
                                     will terminate and rescind the
                                     Assistance Agreement and the award
                                     made under this NOFA.
Pending resolution of                The CDFI Fund will delay
 noncompliance.                      entering into an Assistance
                                     Agreement with a Recipient that has
                                     pending noncompliance issues with
                                     any of its previously executed CDFI
                                     award agreement(s), if the CDFI
                                     Fund has not yet made a final
                                     compliance determination.
                                     If the Recipient is unable
                                     to satisfactorily resolve the
                                     compliance issues, the CDFI Fund
                                     may terminate and rescind the
                                     Assistance Agreement and the award
                                     made under this NOFA.
Noncompliance or default status...   If, at any time prior to
                                     entering into an Assistance
                                     Agreement, the CDFI Fund determines
                                     that a Recipient is noncompliant or
                                     found in default with any
                                     previously executed award
                                     agreement(s), and the CDFI Fund has
                                     provided written notification that
                                     the Recipient is ineligible to
                                     apply for or receive any future
                                     awards or allocations for a time
                                     period specified by the CDFI Fund
                                     in writing, the CDFI Fund may delay
                                     entering into an Assistance
                                     Agreement until the Recipient has
                                     cured the noncompliance by taking
                                     actions the CDFI Fund has specified
                                     within such specified timeframe. If
                                     the Recipient is unable to cure the
                                     noncompliance within the specified
                                     timeframe, the CDFI Fund may
                                     terminate and rescind the
                                     Assistance Agreement and the award
                                     made under this NOFA.
Compliance with Federal civil        If, prior to entering into
 rights requirements.                an Assistance Agreement under this
                                     NOFA, the Recipient receives a
                                     final determination, made within
                                     the last three years, in any
                                     proceeding instituted against the
                                     Recipient in, by, or before any
                                     court, governmental, or
                                     administrative body or agency,
                                     declaring that the Recipient has
                                     violated the following laws: Title
                                     VI of the Civil Rights Act of 1964,
                                     as amended (42 U.S.C. 2000d);
                                     Section 504 of the Rehabilitation
                                     Act of 1973 (29 U.S.C. 794); the
                                     Age Discrimination Act of 1975, (42
                                     U.S.C. 6101-6107), and Executive
                                     Order 13166, Improving Access to
                                     Services for Persons with Limited
                                     English Proficiency, the CDFI Fund
                                     will terminate and rescind the
                                     Assistance Agreement and the award
                                     made under this NOFA.
Do Not Pay........................   The Do Not Pay Business
                                     Center was developed to support
                                     Federal agencies in their efforts
                                     to reduce the number of improper
                                     payments made through programs
                                     funded by the Federal government.
                                     The CDFI Fund reserves the
                                     right, in its sole discretion, to
                                     rescind an award if the Recipient
                                     (or Affiliate of a Recipient) is
                                     determined to be ineligible based
                                     on data in the Do Not Pay database.
Safety and soundness..............   If it is determined the
                                     Recipient is, or will be, incapable
                                     of meeting its award obligations,
                                     the CDFI Fund will deem the
                                     Recipient to be ineligible, or
                                     require it to improve its safety
                                     and soundness prior to entering
                                     into an Assistance Agreement.
------------------------------------------------------------------------

    C. Reporting:
    1. Reporting Requirements: On an annual basis during the Period of 
Performance, the CDFI Fund may collect information from each Recipient 
including, but not limited to, an Annual Report with the following 
components (Annual Reporting Requirements):

                Table 8--Annual Reporting Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Financial Statement Audit Report    A Non-profit Recipient (including
 (Non-profit Recipient including     Insured Credit Unions and State-
 Insured Credit Unions and State-    Insured Credit Unions) must submit
 Insured Credit Unions).             a Financial Statement Audit (FSA)
                                     Report in AMIS, along with the
                                     Recipient's statement of financial
                                     condition audited or reviewed by an
                                     independent certified public
                                     accountant, if any are prepared.
                                    Under no circumstances should this
                                     be construed as the CDFI Fund
                                     requiring the Recipient to conduct
                                     or arrange for additional audits
                                     not otherwise required under
                                     Uniform Requirements or otherwise
                                     prepared at the request of the
                                     Recipient or parties other than the
                                     CDFI Fund.
Financial Statement Audit Report    For-profit Recipients must submit a
 (For-Profit Recipient).             FSA Report in AMIS, along with the
                                     Recipient's statement of financial
                                     condition audited or reviewed by an
                                     independent certified public
                                     accountant.
Financial Statement Audit Report    If the Recipient is a Depository
 (Depository Institution Holding     Institution Holding Company or an
 Company and Insured Depository      Insured Depository Institution, it
 Institution).                       must submit a FSA Report in AMIS.

[[Page 11837]]

 
Single Audit Report (Non-Profit     A non-profit Recipient must complete
 Recipients, if applicable).         an annual Single Audit pursuant to
                                     the Uniform Requirements (see 2 CFR
                                     Subpart F--Audit Requirements) if
                                     it expends $750,000 or more in
                                     Federal awards in its fiscal year,
                                     or such other dollar threshold
                                     established by OMB pursuant to 2
                                     CFR 200.501. If a Single Audit is
                                     required, it must be submitted
                                     electronically to the Federal Audit
                                     Clearinghouse (FAC) (see 2 CFR
                                     Subpart F--Audit Requirements in
                                     the Uniform Requirements) and
                                     optionally through AMIS.
Transaction Level Report (TLR)....  The Recipient must submit a TLR to
                                     the CDFI Fund through AMIS.
                                    If the Recipient is a Depository
                                     Institution Holding Company that
                                     deploys all or a portion of its
                                     CDFI Rapid Response Program grant
                                     through its Subsidiary CDFI Insured
                                     Depository Institution, that
                                     Subsidiary CDFI Insured Depository
                                     Institution must also submit a TLR.
                                     Furthermore, if the Depository
                                     Institution Holding Company itself
                                     deploys any portion of the CDFI
                                     Rapid Response Program grant, the
                                     Depository Institution Holding
                                     Company must submit a TLR.
Uses of Award Report..............  The Recipient must submit the Uses
                                     of Award Report to the CDFI Fund in
                                     AMIS. If the Recipient is a
                                     Depository Institution Holding
                                     Company that deploys all or a
                                     portion of its CDFI Rapid Response
                                     Program grant through its
                                     Subsidiary CDFI Insured Depository
                                     Institution, that Subsidiary CDFI
                                     Insured Depository Institution must
                                     also submit a Uses of Award Report.
                                     Furthermore, if the Depository
                                     Institution Holding Company itself
                                     deploys any portion of the CDFI
                                     Rapid Response Program grant, the
                                     Depository Institution Holding
                                     Company must submit a Uses of Award
                                     Report.
Performance Progress Report.......  The Recipient must submit the
                                     Performance Progress Report through
                                     AMIS.
                                    If the Recipient is a Depository
                                     Institution Holding Company that
                                     deploys all or a portion of its
                                     CDFI Rapid Response Program grant
                                     through its Subsidiary CDFI Insured
                                     Depository Institution, that
                                     Subsidiary CDFI Insured Depository
                                     Institution must also submit a
                                     Performance Progress Report.
                                     Furthermore, if the Depository
                                     Institution Holding Company itself
                                     deploys any portion of the CDFI
                                     Rapid Response Program grant, the
                                     Depository Institution Holding
                                     Company must submit a Performance
                                     Progress Report.
------------------------------------------------------------------------
* Personally Identifiable Information (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 should not include the following PII for the individuals
  who received the Financial Products or Financial Services in AMIS or
  in the supporting documentation (i.e., name of the individual, Social
  Security Number, driver's license or state identification number,
  passport number, Alien Registration Number, etc.). This information
  should be redacted from all supporting documentation.

    The CDFI Fund may also collect data that will enable the Secretary 
of the Treasury to conduct a study of the impact of the CDFI Rapid 
Response Program. Reporting requirements will be outlined in the final 
CDFI Rapid Response Program Assistance Agreement and could include 
reporting beneficiary demographic data. Reporting requirements may be 
added or modified at any time at the discretion of the Secretary of the 
Treasury.
    Each Recipient is responsible for the timely and complete 
submission of the Annual Reporting Requirements. The CDFI Fund reserves 
the right to contact the Recipient and additional entities or 
signatories to the Assistance Agreement to request additional 
information and/or documentation. The CDFI Fund will use such 
information to monitor each Recipient's compliance with the 
requirements of the Assistance Agreement and to assess the impact of 
the CDFI Rapid Response Program. The CDFI Fund reserves the right, in 
its sole discretion, to modify these reporting requirements, including 
increasing the scope and frequency of reporting, if it determines it to 
be appropriate and necessary; however, such reporting requirements will 
be modified only after notice to Recipients.
    2. Financial Management and Accounting: The CDFI Fund will require 
Recipients to maintain financial management and accounting systems that 
comply with Federal statutes, regulations, and the terms and conditions 
of the Federal award. These systems must be sufficient to permit the 
preparation of reports required by the CDFI Fund to ensure compliance 
with the terms and conditions of the CDFI Rapid Response Program, 
including the tracing of funds to a level of expenditures adequate to 
establish that such funds have been used in accordance with Federal 
statutes, regulations, and the terms and conditions of the Federal 
award.
    The cost principles used by Recipients must be consistent with 
Federal cost principles and support the accumulation of costs as 
required by the principles, and must provide for adequate documentation 
to support costs charged to the CDFI Rapid Response Program grant. In 
addition, the CDFI Fund will require Recipients to: maintain effective 
internal controls; comply with applicable statutes, regulations, and 
the Assistance Agreement; evaluate and monitor compliance; take 
appropriate action when not in compliance; and safeguard personally 
identifiable information.

VII. Agency Contacts

    A. The CDFI Fund will respond to questions concerning this NOFA and 
the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern 
Time, starting on the date that the NOFA is published through the date 
listed in Table 1 and Table 6. The CDFI Fund strongly recommends 
Applicants submit questions to the CDFI Fund via an AMIS Service 
Request to the CDFI Program, Office of Certification, Compliance 
Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on 
its website information to clarify the NOFA and Application. Other 
information regarding the CDFI Fund and its programs may be obtained 
from the CDFI Fund's website at http://www.cdfifund.gov. Table 9 lists 
CDFI Fund contact information:

[[Page 11838]]



                                          Table 9--Contact Information
----------------------------------------------------------------------------------------------------------------
                                                           Telephone number
         Type of question            Preferred method      (not toll free)              Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Rapid Response Program        Service Request via   202-653-0421,        [email protected].
 Questions for the CDFI Program.    AMIS.                 option 1.
CCME.............................  Service Request via   202-653-0423.......  [email protected].
                                    AMIS.
AMIS--IT Help Desk...............  Service Request via   202-653-0422.......  [email protected].
                                    AMIS.
----------------------------------------------------------------------------------------------------------------

    B. Information Technology Support: For IT assistance, the preferred 
method of contact is to submit a Service Request within AMIS. For the 
Service Request, select ``Technical Issues'' from the Program dropdown 
menu of the Service Request. 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 the 
contact information in AMIS to communicate with Applicants and 
Recipients. It is imperative, therefore, that Applicants, Recipients, 
Subsidiaries, Affiliates, and signatories maintain accurate contact 
information in their accounts. This includes information such as 
contact names (especially for the Authorized Representative), email 
addresses, fax and phone numbers, and office locations.
    D. Civil Rights and Diversity: Any person who is eligible to 
receive benefits or services from the CDFI Fund or Recipients under any 
of its programs is entitled to those benefits or services without being 
subject to prohibited discrimination. The Department of the Treasury's 
Office of Civil Rights and Diversity enforces various Federal statutes 
and regulations that prohibit discrimination in financially assisted 
and conducted programs and activities of the CDFI Fund. If a person 
believes that s/he has been subjected to discrimination and/or reprisal 
because of membership in a protected group, s/he may file a complaint 
with: Associate Chief Human Capital Officer, Office of Civil Rights, 
and Diversity, 1500 Pennsylvania Ave. NW, Washington, DC 20220 or (202) 
622-1160 (not a toll-free number).
    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. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 
U.S.C. chapter 35), an agency may not conduct or sponsor a collection 
of information, and an individual is not required to respond to a 
collection of information, unless it displays a valid OMB control 
number. If applicable, the CDFI Fund may inform Applicants that they do 
not need to provide certain Application information otherwise required. 
Pursuant to the Paperwork Reduction Act, the CDFI Rapid Response 
Program Application has been assigned the following control number: 
1559-0021.
    B. Application Information Sessions: The CDFI Fund may conduct 
webinars or host information sessions for organizations that are 
considering applying to, or are interested in learning about, the CDFI 
Fund's programs. For further information, visit the CDFI Fund's website 
at http://www.cdfifund.gov.

    Authority: Pub. L. 116-260; 12 U.S.C. 4701, et seq.; 12 CFR 
parts 1805 and 1815; 2 CFR part 200.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2021-04034 Filed 2-25-21; 8:45 am]
BILLING CODE 4810-70-P