[Federal Register Volume 87, Number 29 (Friday, February 11, 2022)]
[Notices]
[Pages 8085-8107]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-02902]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for Financial Assistance (FA) awards or Technical 
Assistance (TA) grants under the Community Development Financial 
Institutions Program (CDFI Program) fiscal year (FY) 2022 Funding 
Round.
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2022-FATA.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
    Dates:

                  Table 1--FY 2022 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
           Description                      Deadline               Time (Eastern Time--ET)     Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards      March 14, 2022..............  11:59 p.m. ET...............  AMIS.
 Management Information Systems
 (AMIS) Account (all Applicants).
Last day to enter EIN and DUNS    March 14, 2022..............  11:59 p.m. ET...............  AMIS.
 numbers in AMIS (all
 Applicants).
Last day to submit SF-424         March 14, 2022..............  11:59 p.m. ET...............  Electronically via
 Mandatory (Application for                                                                    Grants.gov.
 Federal Assistance).
Last day for Applicants that      March 14, 2022..............  11:59 p.m. ET...............  Service Request
 meet the SECA requirements, but                                                               \1\ via AMIS.
 wish to apply for CORE-FA, to
 request creation of a Core-FA
 Application (if requesting more
 than $700,000).
Last day to contact CDFI Program  April 8, 2022...............  5:00 p.m. ET................  Service Request
 staff.                                                                                        via AMIS. Or CDFI
                                                                                               Fund Helpdesk:
                                                                                               202-653-0421.
Last day to contact AMIS-IT Help  April 12, 2022..............  5:00 p.m. ET................  Service Request
 Desk (regarding AMIS technical                                                                via AMIS. Or 202-
 problems only).                                                                               653-0422. Or
                                                                                               [email protected].
Last day to submit CDFI Program   April 12, 2022..............  11:59 p.m. ET...............  AMIS.
 Application for Financial
 Assistance (FA) or Technical
 Assistance (TA).
----------------------------------------------------------------------------------------------------------------

    Executive Summary: Through the CDFI Program, the CDFI Fund provides 
(i) FA awards of up to $1 million to Certified Community Development 
Financial Institutions (CDFIs) to build their financial capacity to 
lend to Eligible Markets and/or their Target Markets, and (ii) TA 
grants of up to $125,000 to build Certified, and Emerging CDFIs' 
organizational capacity to serve Eligible Markets and/or their Target 
Markets. 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.
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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 Program made its first awards in 1996 
and the Native American CDFI Assistance (NACA) Program made its first 
awards in 2002.
    B. Priorities: Through the CDFI Program's FA awards and TA grants, 
the CDFI Fund invests in and builds the

[[Page 8086]]

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.
    C. Authorizing Statutes and Regulations: The CDFI Program is 
authorized by the Riegle Community Development Banking and Financial 
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.) 
(Authorizing Statute). The regulations governing the CDFI Program are 
found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth 
evaluation criteria and other program requirements. The CDFI Fund 
encourages Applicants to review the Regulations; this NOFA; the CDFI 
Program Application for Financial Assistance or Technical Assistance 
(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 award 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 the Applicant's 
financial stability, quality of management systems, the soundness of 
its business plan, history of performance, ability to achieve 
measurable impacts through its products and services, and audit 
findings. 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:
    1. FY 2022 Funding Round: The CDFI Fund expects to award, through 
this NOFA, approximately $188 million as indicated in the following 
table:

                                               Table 2--FY 2022 Funding Round Anticipated Category Amounts
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                                                                                 Award Amount                                   Estimate
                                                   Estimated   ------------------------------------------------   Estimated      average       Average
 Funding categories (see definition in Table 7   total  amount                                                    number of      amount        amount
          for TA  or Table 8 for FA)            to be  awarded             Minimum \2\               Maximum     awards for    awarded in    awarded in
                                                   (millions)                                                      FY 2022       FY 2022       FY 2021
--------------------------------------------------------------------------------------------------------------------------------------------------------
Base-FA: Category I/Small and/or Emerging CDFI             $20  $125,000........................      $700,000            68      $294,000      $292,000
 Assistance (SECA).
Base-FA: Category II/Core.....................             100  500,000, or if portfolio             1,000,000           180       555,000       552,000
                                                                 outstanding is less than
                                                                 $1,666,700 as of the most
                                                                 recent historic fiscal year
                                                                 end, then 30% of portfolio
                                                                 outstanding.
Persistent Poverty Counties--Financial                      19  100,000.........................       300,000           125       152,000       149,000
 Assistance (PPC-FA).
Disability Funds--Financial Assistance (DF-FA)               6  100,000.........................       500,000            14       429,000       429,000
 *.
TA............................................              20  10,000..........................       125,000           160       125,000       125,000
Healthy Food Financing Initiative--Financial                23  500,000.........................     5,000,000            10     2,300,000     2,300,000
 Assistance (HFFI-FA) *.
                                               ---------------------------------------------------------------------------------------------------------
    Total.....................................             188  ................................  ............           571  ............  ............
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* DF-FA and HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

    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.
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    \2\ The FA Application Guidance defines ``the most recent 
historic fiscal year'' based on an Applicant's fiscal year end.
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    2. Funding Availability for the FY 2022 Funding Round: Funds for 
the FY 2022 Funding Round are subject to change based on passage of a 
final FY 2022 budget; if Congress does not appropriate funds for the 
CDFI Program there will not be an FY 2022 Funding Round. If funds are 
appropriated, the amount of such funds may be greater or less than the 
amounts set forth above. The CDFI Fund reserves the right to contact 
applicants to seek additional information in the event that final FY 
2022 appropriations for the CDFI Program change any of the requirements 
of this NOFA. As of the date of this NOFA, the CDFI Fund is operating 
under a continuing funding resolution as enacted by the Further 
Extending Government Funding Act (Pub. L. 117-70).
    3. Anticipated Start Date and Period of Performance: The Period of 
Performance for TA grants begins with the date of the award 
announcement and includes either (i) an Emerging CDFI Recipient's three 
full consecutive fiscal years after the date of the award announcement, 
or (ii) 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. The Period of Performance for FA awards begins 
with the date of the award announcement and includes a Recipient's 
three full consecutive fiscal years after the date of the award 
announcement, during which time the Recipient must meet the PG&Ms set 
forth in the Assistance Agreement.

[[Page 8087]]

    B. Types of Awards: Through the CDFI Program, the CDFI Fund 
provides two types of awards: Financial Assistance (FA) and Technical 
Assistance (TA) awards. An Applicant may submit an Application for a TA 
grant or an FA award under the CDFI Program, but not both. FA Awards 
include the Base Financial Assistance (Base-FA) award and the following 
awards that are provided as a supplement to the Base-FA award: Healthy 
Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent 
Poverty Counties-Financial Assistance (PPC-FA), and Disability Funds-
Financial Assistance (DF-FA). The HFFI-FA, PPC-FA, and DF-FA 
Applications will be evaluated independently from the Base-FA 
Application, and will not affect the Base-FA Application evaluation or 
Base-FA award amount.
    However, Applicants that qualify for the NACA Program may submit 
two Applications: One Application (either for a TA grant or an FA 
award, but not both) through the CDFI Program, and one Application 
(either for a TA grant or an FA award, but not both) through the NACA 
Program. NACA qualified Applicants that choose to apply for awards 
through both the CDFI Program and the NACA Program may either apply for 
the same type of award under each Program or for a different type of 
award under each Program. NACA qualified FA Applicants that choose to 
apply for an FA award under both the NACA Program and CDFI Program and 
are selected for an award under both Programs will be provided the FA 
award under the CDFI Program. NACA qualified TA Applicants that choose 
to apply for a TA award under both the NACA Program and CDFI Program 
and are selected for an award under both Programs will be provided the 
TA award under the NACA Program. NACA qualified Applicants that choose 
to apply for a TA award and a FA award under separate programs and are 
selected for an award under both Programs will be provided the larger 
of the two awards. NACA Applicants cannot receive an award under both 
Programs within the same funding round.
    Category II (Core) FA Applicants applying for Base-FA, PPC-FA, and/
or DF-FA must provide evidence of acceptable Matching Funds \3\ (see 
Table 9 for more information), except Native American CDFIs \4\ 
applying under this NOFA, which are exempt from the Matching Funds 
requirement.\5\ Native American CDFIs that qualify as a Category II 
(Core) FA Applicant are not required to submit Matching Funds for their 
award requests. Additionally, the Matching Funds requirement for HFFI-
FA and SECA FA Applicants was waived in the enacted FY 2021 
Consolidated Appropriations Act, and the final FY 2022 appropriations 
are still pending for this funding round. Therefore, HFFI-FA and SECA 
FA Applicants are not required to submit Matching Funds for their award 
requests at the time of Application. However, the CDFI Fund reserves 
the right to request Matching Funds from SECA FA Applicants and/or 
HFFI-FA Applicants if Matching Funds are not waived in the final FY 
2022 CDFI Program appropriations. TA Applicants are not required to 
provide Matching Funds.
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    \3\ Matching Funds shall mean funds from sources other than the 
Federal government as defined in accordance with the CDFI Program 
Regulations at 12 CFR 1805.500.
    \4\ A Native American CDFI (Native CDFI) is one that Primarily 
Serves a Native Community. Primarily Serves is defined as 50% or 
more of an Applicant's activities being directed to a Native 
Community. 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.
    \5\ The Indian Community Economic Enhancement Act of 2020 (Pub. 
L. 116-261) permanently waives the Matching Funds requirement for 
Native American CDFIs that receive Assistance from the CDFI Fund.
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    1. Base-FA Awards: Base-FA awards can be in the form of loans, 
grants, Equity Investments, deposits and credit union shares. The form 
of the Base-FA award is based on the form of the Matching Funds that 
the Applicant includes in its Application, unless Congress waived the 
Matching Funds requirement. The Matching Funds requirement was 
permanently waived for Native American CDFIs. Therefore, the Base-FA 
award will be in the form of a grant for Native American CDFI 
Applicants. Matching Funds are required at the time of Application 
submission for Category II (Core) Applicants (except Native American 
CDFIs) applying for Base-FA awards, and the CDFI Fund reserves the 
right to request Matching Funds from Category I (SECA) Applicants 
applying for Base FA awards if Matching Funds are not waived in the 
final FY 2022 appropriations for these Applicants. Matching Funds must 
be from non-Federal sources, and cannot have been used as Matching 
Funds for any other Federal award. The CDFI Fund reserves the right, in 
its sole discretion, to provide a Base-FA award in an amount other than 
that which the Applicant requests; however, the award amount will not 
exceed the Applicant's award request as stated in its Application.
    2. Persistent Poverty Counties--Financial Assistance (PPC-FA) 
Awards: PPC-FA awards will be provided as a supplement to Base-FA 
awards; therefore, only those Applicants that are selected to receive a 
Base-FA award through the CDFI Program FY 2022 Funding Round will be 
eligible to receive a PPC-FA award. PPC-FA awards can be in the form of 
loans, grants, Equity Investment, deposits and credit union shares. The 
form of the PPC-FA award is based on the form of the Matching Funds 
that the Applicant includes in its Application, unless Congress waived 
the Matching Funds requirement. The Matching Funds requirement was 
permanently waived for Native American CDFIs. Therefore, the PPC-FA 
award will be in the form of a grant for Native American CDFI 
Applicants. Matching Funds are required at the time of Application 
submission for Category II (Core) Applicants (except Native American 
CDFIs) applying for PPC-FA awards, and the CDFI Fund reserves the right 
to request Matching Funds from Category I (SECA) Applicants applying 
for PPC-FA awards if Matching Funds are not waived in the final FY 2022 
appropriations for these Applicants. Matching Funds must be from non-
Federal sources, and cannot have been used as Matching Funds for any 
other Federal award. The CDFI Fund reserves the right, in its sole 
discretion, to provide a PPC-FA award in an amount other than that 
which the Applicant requests; however, the award amount will not exceed 
the Applicant's award request as stated in its Application.
    3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA 
awards will be provided as a supplement to Base-FA awards; therefore, 
only those Applicants that have been selected to receive a Base-FA 
award through the CDFI Program FY 2022 Funding Round will be eligible 
to receive a DF-FA award. DF-FA awards can be in the form of loans, 
grants, Equity Investments, deposits and credit union shares. The form 
of the DF-FA award is based on the form of the Matching Funds that the 
Applicant includes in its Application, unless Congress waived the 
Matching Funds requirement. The Matching Funds requirement was 
permanently waived for Native American CDFIs. Therefore, the DF-FA 
award will be in the form of a grant for Native American CDFI 
Applicants. Matching Funds are required for Category II (Core) 
Applicants (except Native American

[[Page 8088]]

CDFIs) applying for DF-FA awards, and the CDFI Fund reserves the right 
to request Matching Funds from Category I (SECA) Applicants applying 
for PPC-FA awards if Matching Funds are not waived in the final FY 2022 
appropriations for these Applicants. Matching Funds must be from non-
Federal sources, and cannot have been used as Matching Funds for any 
other Federal award. The CDFI Fund reserves the right, in its sole 
discretion, to provide a DF-FA award in an amount other than that which 
the Applicant requests; however, the award amount will not exceed the 
Applicant's award request as stated in its Application.
    4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA 
awards; therefore, only those Applicants that have been selected to 
receive a Base-FA award through the CDFI Program FY 2022 Funding Round 
will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in 
the form of loans, grants, Equity Investments, deposits and credit 
union shares. The form of the HFFI-FA award is based on the form of the 
Matching Funds that the Applicant includes in its Application, unless 
Congress waived the Matching Funds requirement. The Matching Funds 
requirement was permanently waived for Native American CDFIs. 
Therefore, HFFI-FA awards will be in the form of a grant for Native 
American CDFI Applicants. The Matching Funds requirement for HFFI-FA 
Applicants was waived in the final appropriations bill for FY 2021, and 
the final appropriations are still pending for this funding round. As a 
result, HFFI-FA Applicants are not required to submit Matching Funds 
for their award requests at the time of Application. However, the CDFI 
Fund reserves the right to request Matching Funds from HFFI-FA 
Applicants if Matching Funds are not waived in the final FY 2022 CDFI 
Program appropriations. The CDFI Fund reserves the right, in its sole 
discretion, to provide an HFFI-FA award in an amount other than that 
which the Applicant requests; however, the award amount will not exceed 
the Applicant's award request as stated in its Application.
    5. TA Grants: TA is provided in the form of grants. The CDFI Fund 
reserves the right, in its sole discretion, to provide a TA grant in an 
amount other than that which the Applicant requests; however, the TA 
grant amount will not exceed the Applicant's request as stated in its 
Application.
    C. Eligible Activities:
    1. FA Awards: Base-FA, PPC-FA, DF-FA, and HFFI-FA award funds may 
be expended for 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: (i) 
Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; 
(iv) Development Services; and (v) Capital Reserves. The FA Budget is 
the amount of the award and must be expended in the five eligible 
activity categories prior to the end of the Budget Period.\6\ None of 
the eligible activity categories will be authorized for Indirect Costs 
or an associated Indirect Cost Rate. Base-FA Recipients must meet 
PG&Ms, which will be derived from projections and attestations provided 
by the Applicant in its Application, to achieve one or more of the 
following FA Objectives: (i) Increase Volume of Financial Products in 
an Eligible Market(s) and/or in the Applicant's approved Target Market 
and/or Increase Volume of Financial Services in an Eligible Market(s) 
and/or in the Applicant's approved Target Market; (ii) Serve Eligible 
Market(s) or the Applicant's approved Target Market in New Geographic 
Area or Areas; (iii) Provide New Financial Products in an Eligible 
Market(s) and/or in the Applicant's approved Target Market, Provide New 
Financial Services in an Eligible Market(s) and/or in the Applicant's 
approved Target Market, or Provide New Development Services in an 
Eligible Market(s) and/or in the Applicant's approved Target Market; 
and (iv) Serve New Targeted Population or Populations. FA awards may 
only be used for Direct Costs associated with an eligible activity; no 
indirect expenses are allowed. Up to 15% of the FA award may be used 
for Direct Administrative Expenses associated with an eligible FA 
activity. ``Direct Administrative Expenses'' shall mean Direct Costs, 
as described in section 2 CFR 200.413 of the Uniform Requirements, 
which are incurred by the Recipient to carry out the Financial 
Assistance. Direct Costs incurred to provide Development Services or 
Financial Services do not constitute Direct Administrative Expenses.
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    \6\ 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.
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    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,\7\ with respect to any Direct Costs. For purposes of this 
NOFA, the five eligible activity categories are defined below:
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    \7\ Sec.  200.216 Prohibition on certain telecommunications and 
video surveillance services or equipment.
    (a) Recipients and Subrecipients are prohibited from obligating 
or expending loan or grant funds to:
    (1) Procure or obtain;
    (2) Extend or renew a contract to procure or obtain; or
    (3) Enter into a contract (or extend or renew a contract) to 
procure or obtain, equipment, services, or systems that uses covered 
telecommunications equipment or services as a substantial or 
essential component of any system, or as critical technology as part 
of any system. As described in Public Law 115-232, section 889, 
covered telecommunications equipment is telecommunications equipment 
produced by Huawei Technologies Company or ZTE Corporation (or any 
Subsidiary or Affiliate of such entities).

                    Table 3--Base-FA, PPC-FA, DF-FA, and HFFI-FA Eligible Activity Categories
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                                                                                       Eligible CDFI institution
          FA eligible activity                 FA eligible activity definition *                 types
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i. Financial Products...................  FA expended as loans, Equity Investments    All.
                                           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.
                                          For HFFI-FA, however, the purchase of
                                           loans originated by Certified CDFIs, loan
                                           refinancing, or any type of financing for
                                           prepared food outlets are not eligible
                                           activities.

[[Page 8089]]

 
ii. Financial Services..................  FA expended for providing checking,         Regulated Institutions \8\
                                           savings accounts, check cashing, money      only. Not applicable for
                                           orders, certified checks, automated         HFFI-FA Recipients.
                                           teller machines, deposit taking, safe
                                           deposit box services, and other similar
                                           services.
iii. Loan Loss Reserves.................  FA set aside in the form of cash reserves,  All.
                                           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................  FA expended for activities undertaken by a  All.
                                           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.....................  FA set aside as reserves to support the     Regulated Institutions
                                           Applicant's ability to leverage other       only. Not applicable for
                                           capital, for such purposes as increasing    DF-FA.
                                           its net assets or providing financing, or
                                           for related purposes as the CDFI Fund
                                           deems appropriate.
----------------------------------------------------------------------------------------------------------------
* All FA 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.

    2. DF-FA Award: DF-FA award funds may only be expended for eligible 
FA activities (referenced in Table 3) to directly or indirectly benefit 
individuals with disabilities. The DF-FA Recipient must close Financial 
Products for the primary purpose of directly or indirectly benefiting 
people with disabilities, where the majority of the DF-FA supported 
loans or investments benefit individuals with disabilities, in an 
amount equal to or greater than 85% of the total DF-FA provided. 
Eligible DF-FA financing activities may include, among other 
activities, loans to develop or purchase affordable, accessible, and 
safe housing; loans to provide or facilitate employment opportunities; 
and loans to purchase assistive technology.
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    \8\ Regulated Institutions include Insured Credit Unions, 
Insured Depository Institutions, State-Insured Credit Unions and 
Depository Institution Holding Companies.
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    For the purposes of DF-FA, a person with a Disability is a person 
who has a physical or mental impairment that substantially limits one 
or more major life activities, a person who has a history or record of 
such an impairment, or a person who is perceived by others as having 
such an impairment, as defined by the American Disabilities Act (ADA) 
at https://www.ada.gov/cguide.htm.
    3. TA Grants: TA grant funds may be expended for the following 
seven eligible activity categories: (i) Compensation--Personal 
Services; (ii) Compensation--Fringe Benefits; (iii) Professional 
Service Costs; (iv) Travel Costs; (v) Training and Education Costs; 
(vi) Equipment; and (vii) Supplies. The TA Budget is the amount of the 
award and must be expended in the eight eligible activity categories 
before the end of the Budget Period. None of the eligible activity 
categories will be authorized for Indirect Costs or an associated 
Indirect Cost Rate. Any expenses that are prohibited by the Uniform 
Requirements are unallowable and are generally found in Subpart E--Cost 
Principles. 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. For 
purposes of this NOFA, the eight eligible activity categories are 
defined below:

   Table 4--TA Eligible Activity Categories, Subject to the Applicable Provisions of the Uniform Requirements
----------------------------------------------------------------------------------------------------------------
 
----------------------------------------------------------------------------------------------------------------
(i) Compensation--Personal Services.....................................  TA paid to cover all remuneration,
                                                                           paid currently or accrued, for
                                                                           services of Applicant's employees
                                                                           rendered during the Period of
                                                                           Performance under the TA grant in
                                                                           accordance with section 2 CFR 200.430
                                                                           of the Uniform Requirements.
                                                                          Any work performed directly but
                                                                           unrelated to the purposes of the TA
                                                                           grant may not be paid as Compensation
                                                                           through a TA grant. For example, the
                                                                           salaries for building maintenance
                                                                           would not carry out the purpose of a
                                                                           TA grant and would be deemed
                                                                           unallowable.
(ii) Compensation--Fringe Benefits......................................  TA paid to cover allowances and
                                                                           services provided by the Applicant to
                                                                           its employees as Compensation in
                                                                           addition to regular salaries and
                                                                           wages, in accordance with section 2.
                                                                           CFR 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.
(iii) Professional Service Costs........................................  TA used to 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 2 CFR 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. Professional and consultant
                                                                           services must build the capacity of
                                                                           the CDFI. For example, professional
                                                                           services that provide direct
                                                                           Development Services to the customers
                                                                           does not build the capacity of the
                                                                           CDFI to provide those services and
                                                                           would not be eligible. The Applicant
                                                                           must comply, as applicable, with
                                                                           section 2 CFR 200.216 of the Uniform
                                                                           Requirements, with respect to payment
                                                                           of Professional Service Costs.

[[Page 8090]]

 
(iv) Travel Costs.......................................................  TA used to 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 TA award, in accordance with
                                                                           section 2 CFR 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 TA
                                                                           grant would be deemed unallowable. As
                                                                           such, documentation must be
                                                                           maintained that justifies the travel
                                                                           as necessary to the TA grant.
(v) Training and Education Costs........................................  TA used to pay the cost of training
                                                                           and education provided by the
                                                                           Applicant for employees' development
                                                                           in accordance with section 2 CFR
                                                                           200.473 of the Uniform Requirements.
                                                                           TA 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.
(vi) Equipment..........................................................  TA used to 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 2 CFR
                                                                           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.
(vii) Supplies..........................................................  TA used to pay for tangible personal
                                                                           property with a per unit acquisition
                                                                           cost of less than $5,000, in
                                                                           accordance with section 2 CFR 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.
----------------------------------------------------------------------------------------------------------------

    4. HFFI-FA Award: HFFI-FA award funds may only be expended for 
eligible FA activities referenced in Table 3. The HFFI-FA investments 
must comply with the following guidelines:
    a. Recipient must close Financial Products for Healthy Food Retail 
Outlets and Healthy Food Non-Retail Outlets in its approved Target 
Market in an amount equal to or greater than 100% of the total HFFI 
Financial Assistance provided. Eligible financing activities to Healthy 
Food Retail Outlets and Healthy Food Non-Retail Outlets require that 
the majority of the loan or investment be devoted to offering a range 
of Healthy Food choices, which may include, among other activities, 
investments supporting an existing retail store or wholesale operation 
upgrade to offer an expanded range of Healthy Food choices, or 
supporting a nonprofit organization that expands the availability of 
Healthy Foods in underserved areas.
    b. Recipient must demonstrate that it has closed Financial Products 
to Healthy Food Retail Outlets located in Food Deserts in the 
Recipient's approved Target Market in an amount equal to 75% of the 
total HFFI Financial Assistance provided.
    Definitions:
    Healthy Foods: Healthy Foods include unprepared nutrient-dense 
foods and beverages as set forth in the USDA Dietary Guidelines for 
Americans 2020-2025 including whole fruits and vegetables, whole 
grains, fat free or low-fat dairy foods, lean meats and poultry (fresh, 
refrigerated, frozen or canned). Healthy Foods should have low or no 
added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See 
USDA Dietary Guidelines: http://www.dietaryguidelines.gov).
    Healthy Food Retail Outlets: Commercial sellers of Healthy Foods 
including, but not limited to, grocery stores, mobile food retailers, 
farmers markets, retail cooperatives, corner stores, bodegas, stores 
that sell other food and non-food items along with a range of Healthy 
Foods.
    Healthy Food Non-Retail Outlets: Wholesalers of Healthy Foods 
including, but not limited to, wholesale food outlets, wholesale 
cooperatives, or other non-retail food producers that supply for sale a 
range of Healthy Food options; entities that produce or distribute 
Healthy Foods for eventual retail sale, and entities that provide 
consumer education regarding the consumption of Healthy Foods.
    Food Deserts: Distressed geographic areas where either a 
substantial number or share of residents has low access to a 
supermarket or large grocery store. For the purpose of satisfying this 
requirement, a Food Desert must either: (1) Be a census tract 
determined to be a Food Desert by the U.S. Department of Agriculture 
(USDA), in its USDA Food Access Research Atlas; (2) be a census tract 
adjacent to a census tract determined to be a Food Desert by the USDA, 
in its USDA Food Access Research Atlas; which has a median family 
income less than or equal to 120% of the applicable Area Median Family 
Income; or (3) be a Geographic Unit as defined in 12 CFR part 
1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the 
criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been 
identified as having low access to a supermarket or grocery store 
through a methodology that has been adopted for use by another 
governmental or philanthropic healthy food initiative.
    5. PPC-FA Award: PPC-FA award funds may only be expended for 
eligible FA activities referenced in Table 3. The PPC-FA Recipient must 
close Financial Products in PPC in an Eligible Market or in the 
Applicant's approved Target Market in an amount equal to or greater 
than 100% of the total PPC Financial Assistance provided. The specific 
counties that meet the criteria for ``persistent poverty'' can be found 
at: https://www.cdfifund.gov/sites/cdfi/files/documents/cdfi-ppc-feb19-2020.xls.

III. Eligibility Information

    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. There are 
four categories of Applicant eligibility criteria: (1) CDFI 
certification criteria (Table 5); (2) requirements that apply to all 
Applicants (Table 6); (3) requirements that apply to TA Applicants 
(Table 7); and (4) requirements that apply to FA Applicants (Table 8).

            Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Certified CDFI....................  An entity that the CDFI Fund has
                                     officially notified that it meets
                                     all CDFI certification
                                     requirements.
Emerging CDFI (TA Applicants).....   A non-Certified entity that
                                     demonstrates to the CDFI Fund in
                                     its Application that it has an
                                     acceptable plan to meet CDFI
                                     certification requirements by the
                                     end of its Period of Performance,
                                     or another date that the CDFI Fund
                                     selects.
                                     An Emerging CDFI that has
                                     prior award(s) must comply with
                                     CDFI certification PG&M(s) stated
                                     in its prior Assistance
                                     Agreement(s).

[[Page 8091]]

 
                                    An Emerging CDFI selected to receive
                                     a TA grant will be required to
                                     become a Certified CDFI by a date
                                     specified in the Assistance
                                     Agreement.
------------------------------------------------------------------------


          Table 6--Eligibility Requirements for All 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) \9\--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 10.
 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 Grants.gov
                                        registration process can take 30
                                        days or more to complete. The
                                        CDFI Fund strongly encourages
                                        Applicants to register as early
                                        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 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 12. 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 Program
                                        Funding Opportunity Number for
                                        the CDFI Program Application.
                                        CDFI Program Applicants should
                                        be careful to not select the
                                        NACA Program Funding Opportunity
                                        Number when submitting their SF-
                                        424 for the CDFI Program. CDFI
                                        Program Applicants that submit
                                        their SF-424 for the CDFI
                                        Program Application under the
                                        NACA Program Funding Opportunity
                                        Number will be deemed ineligible
                                        for the CDFI 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 10:
                                       [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 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 12.
                                       [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 on or
                                     before the deadline specified in
                                     Tables 1 and 12.
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.
                                     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 12.
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, 2022, 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......................   Each Applicant must
                                     register as an organization in AMIS
                                     and submit all Required Application
                                     Documents listed in Table 10
                                     through the AMIS portal.
                                     The Application of any
                                     organization that does not properly
                                     register in AMIS by the deadline
                                     set forth in Table 1--FY 2022 CDFI
                                     Program Funding Round Critical
                                     Deadlines for Applicants--will be
                                     rejected without further
                                     consideration.
                                     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 register and update its
                                     AMIS account may miss important
                                     communication from the CDFI Fund
                                     and/or may not be able to
                                     successfully submit an Application.

[[Page 8092]]

 
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 or
                                     NACA Program award.
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, and Title IX
                                     of the Education Amendments of
                                     1972.
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 (through which it will
                                     carry out the activities of the
                                     award) both apply for an award
                                     under this NOFA, 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 award
                                     funds 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 FA or TA 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.
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), Allocation
                                     Agreement(s), and/or Assistance
                                     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), Allocation
                                     Agreement(s), and/or Assistance
                                     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 Award Agreement,
                                     Allocation Agreement and/or
                                     Assistance 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.
Debarment/Do Not Pay Verification.   The CDFI Fund will conduct
                                     a debarment check and will not
                                     consider an Application submitted
                                     by an Applicant (or Affiliate of an
                                     Applicant) if the Applicant is
                                     delinquent on any Federal debt.
                                     The Do Not Pay Business
                                     Center was developed to support
                                     Federal agencies in their efforts
                                     to reduce the number of improper
                                     payments made through programs
                                     funded by the Federal government.
                                     The Do Not Pay Business Center
                                     provides delinquency information to
                                     the CDFI Fund to assist with the
                                     debarment check.
------------------------------------------------------------------------

     
---------------------------------------------------------------------------

    \9\ Depository Institution Holding Company or DIHC means a Bank 
Holding Company or a Savings and Loan Holding Company.

           Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status.........  (1) Emerging CDFIs (see definition
                                     in Table 5), or
                                    (2) Certified CDFIs (see Table 5)
                                     that meet the following SECA
                                     Applicant criteria:
                                       (1) Have total assets as of the
                                        end of the Applicant's most
                                        recent historic fiscal year \10\
                                        in accordance with the FA
                                        Application Guidance (as stated
                                        in the Applicant's AMIS account
                                        and verified by internally
                                        prepared financial statements
                                        and/or audits) in the following
                                        amounts:
                                          Insured Depository
                                          Institutions and Depository
                                          Institution Holding Companies:
                                          Up to $250 million;
                                          Insured Credit Unions
                                          and State-Insured Credit
                                          Unions: Up to $100 million;
                                          Venture Capital Funds
                                          **: Up to $5 million;
                                          Other CDFIs: Up to $5
                                          million; OR
                                       (2) Have begun operations (as
                                        indicated by the financing
                                        activity start date field in the
                                        Applicant's AMIS account) on or
                                        after January 1, 2018.
Matching Funds....................   Matching Funds
                                     documentation is not required for
                                     TA awards.
Limitation on Awards..............   An Emerging CDFI may not
                                     receive more than three TA awards
                                     as an uncertified CDFI.
Proposed Activities...............   Applicants must propose to
                                     directly undertake eligible
                                     activities with TA awards. For
                                     example, an uncertified CDFI
                                     Applicant must propose to become
                                     certified as part of its
                                     Application and a Certified CDFI
                                     Applicant must propose activities
                                     that build its capacity to serve
                                     its Target Market or an Eligible
                                     Market.
                                     Applicants may not propose
                                     to use a TA award to create a
                                     separate legal entity to become a
                                     Certified CDFI or otherwise carry
                                     out the TA award activities.
Regulated Institution.............   Each Regulated Institution
                                     TA Applicant must have a CAMELS/
                                     CAMEL rating (rating for Insured
                                     Depository Institutions and Credit
                                     Unions, respectively) or equivalent
                                     type of rating by its regulator
                                     (collectively referred to as
                                     ``CAMELS/CAMEL rating'') of at
                                     least ``4''.
                                     TA Applicants with CAMELS/
                                     CAMEL ratings of ``5'' will not be
                                     eligible for awards.
                                     In the case of a Depository
                                     Institution Holding Company
                                     Applicant that intends to carry out
                                     the award through a Subsidiary
                                     Insured Depository Institution, the
                                     CAMELS/CAMEL rating eligibility
                                     requirements noted above apply to
                                     both the Depository Institution
                                     Holding Company Applicant as well
                                     as the Subsidiary Insured
                                     Depository Institution.

[[Page 8093]]

 
                                     The CDFI Fund will also
                                     evaluate material concerns
                                     identified by the Appropriate
                                     Federal Banking Agency in
                                     determining the eligibility of
                                     Regulated Institution Applicants.
------------------------------------------------------------------------
** A Venture Capital Fund is an organization that predominantly invests
  funds in businesses, typically in the form of either Equity
  Investments or subordinated debt with equity features such as a
  revenue participation or warrants, and generally seeks to participate
  in the upside returns of such businesses in an effort to at least
  partially offset the risk of its investments.

     
---------------------------------------------------------------------------

    \10\ 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 
2021 as their most recent historic fiscal year and FY 2022 as their 
current year.
    (B) Applicants with a 6/30 fiscal year end date will treat FY 
2021 as their most recent historic fiscal year and FY 2022 as their 
current year.
    (C) Applicants with a 9/30 fiscal year end date and a completed 
FY 2021 audit will treat FY 2021 as their most recent historic 
fiscal year and FY 2022 as their current year.
    (D) Applicants with a 9/30 fiscal year end date but without a 
completed FY 2021 audit will treat FY 2020 as their most recent 
historic fiscal year and FY 2021 as their current year.
    (E) Applicants with a 12/31 fiscal year end date, with or 
without a completed FY 2021 audit, will treat FY 2020 as their most 
recent historic fiscal year and FY 2021 as their current year.

           Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status.........   Each FA 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.
Matching Funds documentation......   Native American CDFIs are
                                     not required to provide Matching
                                     Funds.
                                     Applicants must submit
                                     acceptable documentation attesting
                                     that they have received or will
                                     receive Matching Funds. Applicants
                                     that do not complete the Matching
                                     Funds section in the FA Application
                                     in AMIS, documenting the source(s)
                                     of their Matching Funds, will not
                                     be evaluated. See Table 9 for
                                     additional information on Matching
                                     Funds requirements for FY 2022
                                     Funding Round. The Matching Funds
                                     requirement for Category I (SECA)
                                     FA Applicants and HFFI-FA
                                     Applicants was waived in the final
                                     FY 2021 appropriations, and the
                                     final FY 2022 appropriations are
                                     still pending. Therefore HFFI-FA
                                     and SECA FA applicants are not
                                     required to submit Matching Funds
                                     for their award requests at the
                                     time of Application. However, the
                                     CDFI Fund reserves the right to
                                     request Matching Funds from
                                     Category I (SECA) FA and HFFI-FA
                                     Applicants if Matching Funds are
                                     not waived in the final FY 2022
                                     CDFI Program appropriations.
                                     Category II (Core) FA Applicants
                                     must document their Matching Funds
                                     in the Matching Funds section in
                                     the FA Application in AMIS.
                                     Matching Funds information provided
                                     in another format will not be
                                     considered.
                                     Unless Congress waived the
                                     Matching Funds requirement, awards
                                     will be limited to no more than two
                                     times the amount of In-Hand or
                                     Committed Matching Funds
                                     documentation provided at the time
                                     of Application (or for Category I
                                     (SECA) FA and HFFI-FA Applicants,
                                     upon request if applicable). See
                                     Table 9 for the definitions of
                                     Committed and In-Hand.
                                     Unless Congress waived the
                                     Matching Funds requirement, awards
                                     will be obligated in like form to
                                     the Matching Funds provided at time
                                     of Application (or for Category I
                                     (SECA) FA and HFFI-FA Applicants,
                                     upon request if applicable). See
                                     Table 9. Matching Funds
                                     ``Determination of Award Form'' for
                                     additional guidance.
                                     Unless Congress waived the
                                     Matching Funds requirement, award
                                     payments from the CDFI Fund will
                                     require eligible dollar-for-dollar
                                     In-Hand Matching Funds for the
                                     total payment amount. Recipients
                                     will not receive a payment until
                                     100% of their Matching Funds are In-
                                     Hand.
                                     Unless Congress waived the
                                     Matching Funds requirement, the
                                     CDFI Fund will reduce and de-
                                     obligate the remaining balance of
                                     any award that does not demonstrate
                                     full dollar-for-dollar Matching
                                     Funds equal to the announced award
                                     amount by the end of the Matching
                                     Funds Window.
Consideration as a Native American   The Indian Community
 CDFI.                               Economic Enhancement Act of 2020
                                     (Pub. L. 116-261) permanently
                                     waived the Matching Funds
                                     requirements for Native American
                                     CDFIs. For consideration as a
                                     Native American CDFI under this
                                     NOFA, an FA Applicant must
                                     Primarily Serve a Native Community.
                                     Primarily Serves is defined as 50%
                                     or more of an Applicant's
                                     activities being directed to a
                                     Native Community.
                                     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.
                                     Applicants that do not meet
                                     the above conditions will not be
                                     considered as a Native American
                                     CDFI under this NOFA.
                                     Native American CDFI FA
                                     Applicants are not required to
                                     provide Matching Funds. Therefore,
                                     if the CDFI Fund determines that a
                                     Category II (Core) FA Applicant
                                     that attests in its Application to
                                     meeting the above conditions does
                                     not meet the criteria to be
                                     considered a Native American CDFI,
                                     the Application will be deemed
                                     ineligible for failure to provide
                                     Matching Funds.
$5 Million funding cap............   The CDFI Fund is prohibited
                                     from obligating more than $5
                                     million in CDFI and NACA Program
                                     awards, in the aggregate, to any
                                     one organization and its
                                     Subsidiaries and Affiliates during
                                     any three-year period from the
                                     Announcement Date.
                                     For TA Applicants, for
                                     purposes of this NOFA and per final
                                     FY 2022 appropriations language,
                                     the CDFI Fund will include CDFI and
                                     NACA Program final awards in the
                                     cap calculation that were provided
                                     to an Applicant (and/or its
                                     Subsidiaries or Affiliates) under
                                     the FY 2020, and 2021 funding
                                     rounds, as well as the requested FY
                                     2022 award, excluding DF-FA and
                                     HFFI-FA awards.
                                     For FA Applicants, for
                                     purposes of this NOFA and per final
                                     FY 2022 appropriations language,
                                     the CDFI Fund will include CDFI and
                                     NACA Program final awards in the
                                     cap calculation that were provided
                                     to an Applicant (and/or its
                                     Subsidiaries or Affiliates) under
                                     the FY 2020 and 2021 funding
                                     rounds, as well as the requested FY
                                     2022 award, excluding DF-FA and
                                     HFFI-FA awards.
FA Category I (SECA)..............   To be an eligible SECA
                                     Applicant, an Applicant must meet
                                     the following criteria:
                                       (1) Be a Certified CDFI;
                                       (2) Request $700,000 or less in
                                        Base-FA funds; AND EITHER
                                       (3) Have total assets as of the
                                        end of the Applicant's most
                                        recent historic fiscal year in
                                        accordance with the FA
                                        Application Guidance (as stated
                                        in the Applicant's AMIS account
                                        and verified by internally
                                        prepared financial statements
                                        and/or audits) in the following
                                        amounts:
                                        Insured Depository
                                        Institutions and Depository
                                        Institution Holding Companies:
                                        Up to $250 million;
                                        Insured Credit Unions
                                        and State-Insured Credit Unions:
                                        Up to $100 million;
                                        Venture Capital Funds:
                                        Up to $5 million;
                                        Other CDFIs: Up to $5
                                        million; OR

[[Page 8094]]

 
                                        Have begun operations
                                        (as indicated by the financing
                                        activity start date field in the
                                        Applicant's AMIS account) on or
                                        after January 1, 2018.
FA Category II (Core).............   A Core Applicant must be a
                                     Certified CDFI as defined in Table
                                     5.
                                     An Applicant that meets the
                                     SECA requirements stated above, and
                                     that requests more than $700,000 in
                                     Base-FA award funds is categorized
                                     as an FA Category II (Core)
                                     Applicant, regardless of its total
                                     assets and/or years in operation.
                                     Such Applicants who meet
                                     SECA requirements but wish to apply
                                     as a Core FA Applicant, by
                                     requesting more than $700,000, must
                                     submit a Service Request in AMIS to
                                     request that a Core-FA Application
                                     be created by the dates specified
                                     in Tables 1 and 12. The CDFI Fund
                                     will not change an Application back
                                     to a SECA FA Application after a
                                     request to create a Core FA
                                     Application has been submitted to
                                     the CDFI Fund.
FA Applicants with Community         A CDFI Applicant can apply
 Partners.                           for assistance jointly with a
                                     Community Partner. The CDFI
                                     Applicant must complete the CDFI
                                     Program Application and address the
                                     Community Partnership in its
                                     business plan and other sections of
                                     the Application as specified in the
                                     Application materials.
                                     The CDFI Applicant must be
                                     a Certified CDFI as defined in
                                     Table 5.
                                     An Application with a
                                     Community Partner must:
                                       [cir] Describe how the CDFI
                                        Applicant and Community Partner
                                        will each participate in the
                                        partnership and how the
                                        partnership will enhance
                                        eligible activities serving the
                                        Investment Area and/or Targeted
                                        Population.
                                       [cir] Demonstrate that the
                                        Community Partnership activities
                                        are consistent with the
                                        strategic plan submitted by the
                                        CDFI Applicant.
                                     Assistance provided upon
                                     approval of an Application with a
                                     Community Partner shall only be
                                     entrusted to the CDFI Applicant and
                                     shall not be used to fund any
                                     activity carried out directly by
                                     the Community Partner or an
                                     Affiliate or Subsidiary thereof.
Regulated Institution.............   Each Regulated Institution
                                     FA Applicant must have a CAMELS/
                                     CAMEL rating (rating for Insured
                                     Depository Institutions and Credit
                                     Unions, respectively) or equivalent
                                     type of rating by its regulator
                                     (collectively referred to as
                                     ``CAMELS/CAMEL rating'') of at
                                     least ``3''.
                                     FA Applicants with CAMELS/
                                     CAMEL ratings of ``4 or 5'' will
                                     not be eligible for awards.
                                     In the case of a Depository
                                     Institution Holding Company
                                     Applicant that intends to carry out
                                     the award through a Subsidiary
                                     Insured Depository Institution, the
                                     CAMELS/CAMEL rating eligibility
                                     requirements noted above apply to
                                     both the Depository Institution
                                     Holding Company Applicant as well
                                     as the Subsidiary Insured
                                     Depository Institution.
                                     The CDFI Fund will also
                                     evaluate material concerns
                                     identified by the Appropriate
                                     Federal Banking Agency in
                                     determining the eligibility of
                                     Regulated Institution Applicants.
PPC-FA............................   All PPC-FA Applicants must:
                                       [cir] Submit a CDFI or NACA
                                        Program FA Application;
                                       [cir] Meet all FA award
                                        eligibility requirements; and
                                       [cir] Provide a PPC-FA award
                                        request amount in AMIS.
DF-FA.............................   All DF-FA Applicants must:
                                       [cir] Submit a CDFI or NACA
                                        Program FA Application;
                                       [cir] Meet all FA award
                                        eligibility requirements;
                                       [cir] Submit the DF-FA
                                        Application; and
                                       [cir] Provide a DF-FA award
                                        request amount in AMIS.
HFFI-FA...........................   All HFFI-FA Applicants
                                     must:
                                       [cir] Submit a CDFI or NACA
                                        Program FA Application;
                                       [cir] Meet all FA award
                                        eligibility requirements;
                                       [cir] Submit the HFFI-FA
                                        Application; and
                                       [cir] Provide a HFFI-FA award
                                        request amount in AMIS.
------------------------------------------------------------------------

    B. Matching Funds Requirements: In order to receive a Base-FA, PPC-
FA, or DF-FA award, an Applicant must provide evidence of eligible 
dollar-for-dollar Matching Funds and attest that it can provide 
acceptable documentation upon the CDFI Fund's request as part of the 
Application, unless Congress waived the Matching Funds requirement. The 
Matching Funds requirement was permanently waived for Native American 
CDFIs. Therefore, Native American CDFI Applicants are not required to 
submit Matching Funds for their award requests. The Matching Funds 
requirement was waived for Category I (SECA) FA Applicants and HFFI-FA 
Applicants in the final appropriations bill for FY 2021, and the final 
FY 2022 appropriations are still pending for this funding round. As a 
result, Category I (SECA) FA Applicants and HFFI-FA Applicants are not 
required to submit Matching Funds for their award requests at the time 
of Application. However, the CDFI Fund reserves the right to request 
Matching Funds from Category I (SECA) FA Applicants and HFFI-FA 
Applicants if Matching Funds are not waived in the final FY 2022 CDFI 
Program appropriations. An Applicant that represents that it has Equity 
Investments and/or deposits Matching Funds In-Hand at the time of 
Application submission must provide documentation of such as part of 
the Application (or for Category I (SECA) FA and HFFI-FA Applicants, 
upon request if applicable). An Applicant that uses retained earnings 
as Matching Funds must provide supporting documentation of In-Hand and/
or Committed Matching Funds at the time of Application submission. The 
CDFI Fund will review Matching Funds information, attestations, and 
supporting Matching Funds documentation, if applicable, prior to award 
payment and will disburse funds based upon eligible In-Hand Matching 
Funds. The CDFI Fund encourages Applicants to review the Regulations, 
the Uniform Requirements, and the Matching Funds guidance materials 
available on the CDFI Fund's website. Table 9 provides a summary of the 
Matching Funds requirements for Applicants for whom Matching Funds are 
required. The Matching Funds requirement for Native American CDFIs is 
permanently waived. Additional details are set forth in the Application 
materials.

                 Table 9--Matching Funds Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
In-Hand Matching Funds definition.   Matching Funds are In-Hand
                                     when the Applicant receives payment
                                     for the Matching Funds from the
                                     Matching Funds source and has
                                     acceptable documentation that can
                                     be provided to the CDFI Fund upon
                                     request. Acceptable In-Hand
                                     documentation must show the source,
                                     form (e.g., grant, loan, deposit,
                                     and Equity Investment), amount
                                     received, and the date the funds
                                     came into physical possession of
                                     the Applicant.

[[Page 8095]]

 
                                     The following
                                     documentation, depending on the
                                     Matching Funds type, must be
                                     available to be provided to the
                                     CDFI Fund upon request:
                                        Loan--the loan agreement
                                        and/or promissory note;
                                        grant--the grant letter
                                        or agreement;
                                        Equity Investment--the
                                        stock certificate, documentation
                                        of total equity outstanding, and
                                        shareholder agreement;
                                        retained earnings--
                                        Retained Earnings Calculator and
                                        audited financial statements or
                                        call reports from regulating
                                        entity for each fiscal year
                                        reported in the Retained
                                        Earnings Calculator;
                                        third party in-kind
                                        contribution--evidence of
                                        receipt of contribution and
                                        valuation;
                                        deposits--certificates
                                        of deposit agreement;
                                        secondary capital--
                                        secondary capital agreement and
                                        disclosure and acknowledgement
                                        statement; AND
                                        clearly legible
                                        documentation that demonstrates
                                        actual receipt of the Matching
                                        Funds including the date of the
                                        transaction and the amount, such
                                        as a copy of a check or a wire
                                        transfer statement.
                                        Unless Congress waived
                                        the Matching Funds requirement,
                                        Applicants must provide
                                        information on their In-Hand
                                        Matching Funds in the Matching
                                        Funds section of the FA
                                        Application in AMIS (refer to
                                        Table 10--Required Application
                                        Documents) at the time of
                                        Application submission.
                                        Although Applicants are
                                        not required to provide further
                                        documentation for In-Hand
                                        Matching Funds at the time of
                                        Application submission (other
                                        than supporting documentation
                                        for retained earnings, deposits,
                                        and Equity Investments, which
                                        must be provided at the time of
                                        Application submission), they
                                        must be able to provide
                                        documentation to the CDFI Fund
                                        upon request.
Matching Funds requirements by      The following Applicants must
 Application type.                   provide evidence of acceptable
                                     Matching Funds at the time of
                                     Application:
                                     Category II/Core FA
                                     Applicants, with the exception of
                                     Native American CDFIs, applying for
                                     Base-FA, PPC-FA, and DF-FA
                                    The CDFI Fund reserves the right to
                                     request Matching Funds from
                                     Category I (SECA) FA Applicants and
                                     HFFI-FA Applicants if Matching
                                     Funds are not waived in the final
                                     FY 2022 CDFI Program
                                     appropriations.
                                    TA Applicants and Native American
                                     CDFI FA Applicants are not required
                                     to provide Matching Funds.
Amount of required match..........  Unless waived by Congress,
                                     Applicants must provide evidence of
                                     eligible, In-Hand, dollar-for-
                                     dollar, non-Federal Matching Funds
                                     for every award dollar to be paid
                                     by the CDFI Fund. If awarded,
                                     Applicants that do not demonstrate
                                     100% In-Hand Matching Funds at the
                                     time of Application submission may
                                     experience a longer payment
                                     timeline.
Determination of award form.......  Unless the Matching Funds
                                     requirement is waived by Congress,
                                     awards will be made in comparable
                                     form and value to the eligible In-
                                     Hand and/or Committed Matching
                                     Funds submitted by the Applicant.
                                     For awards where Congress has
                                     waived the Matching Funds
                                     requirement, the form of the award
                                     will be a grant.
                                        For example, if an
                                        Applicant provides documentation
                                        of eligible loan Matching Funds
                                        for $200,000 and eligible grant
                                        Matching Funds of $400,000, the
                                        CDFI Fund will obligate $200,000
                                        of the FA award as a loan and
                                        $400,000 as a grant.
                                        The CDFI Fund will not
                                        permit a Recipient to change the
                                        form of a loan award.
                                    For awards where Congress waives the
                                     Matching Funds requirement, the
                                     form of the award will be a grant.
Matching Funds Window definition..   The Applicant must receive
                                     eligible In-Hand Matching Funds
                                     between January 1, 2020 and January
                                     15, 2023.
                                     A Recipient must provide
                                     the CDFI Fund with all
                                     documentation demonstrating the
                                     receipt of In-Hand Matching Funds
                                     by January 31, 2023.
Matching Funds and form of award..   Recipients will be approved
                                     for a maximum award size of two
                                     times the total amount of eligible
                                     In-Hand and/or Committed Matching
                                     Funds included in the Application
                                     (or for Category I (SECA) FA and
                                     HFFI-FA Applicants, upon request if
                                     applicable), so long as they do not
                                     exceed the requested award amount.
                                     The form of the Matching
                                     Funds documented in the Application
                                     determines the form of the award.
Committed Matching Funds             Matching Funds are
 definition.                         Committed when the Applicant has
                                     entered into or received a legally
                                     binding commitment from the
                                     Matching Funds source showing that
                                     the Matching Funds will be
                                     disbursed to the Applicant at a
                                     future date.
                                     The Applicant must provide
                                     information on their Committed
                                     Matching Funds in the Matching
                                     Funds section of the FA Application
                                     in AMIS (refer to Table 10--
                                     Required Application Documents) at
                                     the time of Application submission.
                                     Although the Applicant is
                                     not required to provide further
                                     documentation for Committed
                                     Matching Funds at the time of
                                     Application submission (other than
                                     supporting documentation for
                                     retained earnings, deposits, and
                                     Equity Investments, which must be
                                     provided at the time of Application
                                     submission), it must be able to
                                     provide the CDFI Fund, upon
                                     request, acceptable written
                                     documentation showing the source,
                                     form, and amount of the Committed
                                     Matching Funds (including, in the
                                     case of a loan, the terms thereof),
                                     as well as the anticipated payment
                                     date of the Committed Matching
                                     Funds.
Limitations on Matching Funds.....   Matching Funds must be from
                                     non-Federal sources.
                                     Applicants cannot proffer
                                     Matching Funds that were accepted
                                     as Matching Funds for a prior award
                                     that required Matching Funds under
                                     the CDFI Program, NACA Program, or
                                     under another Federal grant or
                                     award program.
                                     Matching Funds must comply
                                     with the Regulations.
                                     Matching Funds must be
                                     attributable to at least one of the
                                     five eligible FA activities (see
                                     Section II (C) of this NOFA).
Rights of the CDFI Fund...........   The CDFI Fund reserves the
                                     right to contact the Matching Funds
                                     source to discuss the Matching
                                     Funds and the documentation that
                                     the Applicant provided.
                                     The CDFI Fund may grant an
                                     extension of the Matching Funds
                                     Window (defined in Table 9), on a
                                     case-by-case basis, if the CDFI
                                     Fund deems it appropriate.
                                     The CDFI Fund reserves the
                                     right to rescind all or a portion
                                     of an award requiring Matching
                                     Funds and re-allocate the rescinded
                                     award amount to other qualified
                                     Applicant(s) if a Recipient fails
                                     to provide evidence of In-Hand
                                     Matching Funds obtained during the
                                     Matching Funds Window totaling its
                                     award amount.
Matching Funds in the form of        Third party in-kind
 third-party in-kind contributions.  contributions are non-cash
                                     contributions (i.e., property or
                                     services) provided by non-Federal
                                     third parties to the Applicant.
                                     Third party in-kind
                                     contributions will be considered to
                                     be in the form of a grant for
                                     Matching Funds purposes.
                                     Third party in-kind
                                     contributions may be in the form of
                                     real property, equipment, supplies,
                                     and other expendable property. The
                                     value of goods and services must
                                     directly benefit the eligible FA
                                     activities.
                                     For third party in-kind
                                     contributions, the fair market
                                     value of goods and services must be
                                     documented as the grant match.
                                     Applicants will be
                                     responsible for documenting the
                                     value of all in-kind contributions
                                     pursuant to the Uniform
                                     Requirements.
Matching Funds in the form of a      An award made in the form
 loan.                               of a loan will have the following
                                     standardized terms:
                                    i. A 13-year term with semi-annual
                                     interest-only payments due in years
                                     1 through 10, and fully amortizing
                                     payments due each year in years 11
                                     through 13; and
                                       ii. A fixed interest rate of
                                        1.39%, which was calculated by
                                        the CDFI Fund based on the U.S.
                                        Department of the Treasury's 10-
                                        year Treasury note.
                                     The Applicant's Matching
                                     Funds loan(s) must:
                                       i. Have a minimum of a 3-year
                                        term (loans presented as
                                        Matching Funds with less than a
                                        3-year term will not qualify as
                                        eligible match); and
                                       ii. be from a non-Federal source.

[[Page 8096]]

 
Matching Funds in the form of        An Equity Investment source
 Equity Investments.                 must meet the terms outlined in 12
                                     CFR 1805.401(a): Equity: The CDFI
                                     Fund may make non-voting equity
                                     investments in a Recipient,
                                     including, without limitation, the
                                     purchase of non-voting stock. Such
                                     stock shall be transferable and, in
                                     the discretion of the CDFI Fund,
                                     may provide for convertibility to
                                     voting stock upon transfer. The
                                     CDFI Fund shall not own more than
                                     50 percent of the equity of a
                                     Recipient and shall not control its
                                     operations.
                                     The CDFI Fund's ownership
                                     of equity is calculated by dividing
                                     the shares owned by the CDFI Fund
                                     by the total number of shares
                                     issued by the Recipient.
                                     The CDFI Fund reserves the
                                     right, in its sole discretion, to
                                     perform its own valuation of Equity
                                     Investment source(s) and to
                                     determine if the equity value is
                                     acceptable to the CDFI Fund.
Severe Constraints Waiver.........   In the case of an Applicant
                                     demonstrating severe constraints on
                                     available sources of Matching
                                     Funds, the CDFI Fund, in its sole
                                     discretion, may provide a Severe
                                     Constraints Waiver, which permits
                                     such Applicant to comply with the
                                     Matching Funds requirements by
                                     reducing such requirements by up to
                                     50%.
                                     In order to be considered
                                     eligible for a Severe Constraints
                                     Waiver, an Applicant must meet all
                                     of the SECA eligibility criteria
                                     described in Table 8. Instructions
                                     for requesting a Severe Constraints
                                     Waiver will be made available if
                                     required.
                                     No more than 25% of the
                                     total funds available for
                                     obligation under this funding round
                                     may qualify for a Severe
                                     Constraints Waiver.
Ineligible Matching Funds.........   Applicants will not be
                                     given the opportunity to correct or
                                     amend the Matching Funds
                                     information included in the FA
                                     Application after Application
                                     submission if the CDFI Fund
                                     determines that any portion of the
                                     Applicant's Matching Funds is
                                     ineligible.
Use of Matching Funds from a prior  If an Applicant offers Matching
 CDFI Program Recipient.             Funds documentation from an
                                     organization that was a prior
                                     Recipient under the CDFI Program or
                                     NACA Program, the Applicant must be
                                     able to prove to the CDFI Fund's
                                     satisfaction that such funds do not
                                     consist, in whole or in part, of
                                     CDFI Program funds, NACA Program
                                     funds, or other Federal funds.
Matching Funds in the form of        Retained earnings are
 retained earnings.                  eligible for use as Matching Funds
                                     in an amount equal to the CDFI
                                     Fund's calculation of:
                                    i. the increase in retained earnings
                                     that occurred over any one of the
                                     Applicant's fiscal years within the
                                     Matching Funds Window, adjusted to
                                     remove revenue and expenses derived
                                     from Federal sources and Matching
                                     Funds used for an award; or
                                       ii. the annual average of such
                                        increases that occurred over any
                                        three consecutive fiscal years
                                        of the Applicant with at least
                                        one of the fiscal years
                                        occurring within the Matching
                                        Funds Window, adjusted to remove
                                        revenue and expenses derived
                                        from Federal sources and
                                        Matching Funds used for an
                                        award; or
                                       iii. any combination of (i) and
                                        (ii) above that does not include
                                        Matching Funds used for an
                                        award.
                                     Retained earnings will be
                                     matched in the form of a grant.
                                     Depository Institution
                                     Holding Company Applicants must
                                     provide call reports for the
                                     Depository Institution Holding
                                     Company in order to verify their
                                     retained earnings, even if the
                                     requested award will support its
                                     Subsidiary CDFI Insured Depository
                                     Institution.
Special rule for Regulated           A Regulated Institution's
 Institutions.                       retained earnings are eligible for
                                     use as Matching Funds in an amount
                                     equal to the CDFI Fund's
                                     calculation of:
                                       i. The increase in retained
                                        earnings that occurred over any
                                        one of the Applicant's fiscal
                                        years within the Matching Funds
                                        Window, adjusted to remove
                                        revenue from Federal sources and
                                        Matching Funds used for an
                                        award; or
                                       ii. the annual average of such
                                        increases that occurred over any
                                        three consecutive fiscal years
                                        of the Applicant with at least
                                        one of the fiscal years
                                        occurring within the Matching
                                        Funds Window, adjusted to remove
                                        revenue and expenses derived
                                        from Federal sources and
                                        Matching Funds used for an
                                        award; or
                                       iii. the entire retained earnings
                                        that have been accumulated since
                                        the inception of the Applicant,
                                        as provided in the Regulations.
                                     If option (iii) is used for
                                     Insured Credit Unions or State-
                                     Insured Credit Unions, the
                                     Applicant must increase its member
                                     and/or non-member shares and/or
                                     total loans outstanding by an
                                     amount equal to the amount of
                                     retained earnings committed as
                                     Matching Funds.
                                        This increase (1) will
                                        be measured on a quarterly basis
                                        from March 31, 2022; (2) must
                                        occur by December 31, 2023; and
                                        (3) will be based on amounts
                                        reported in the Applicant's
                                        National Credit Union
                                        Administration (NCUA) form 5300
                                        Call Report, or equivalent.
                                        The CDFI Fund will
                                        assess the likelihood of this
                                        increase during the Application
                                        review process.
                                        An award will not be
                                        made to any Applicant that has
                                        not demonstrated in the relevant
                                        NCUA form 5300 call reports or
                                        equivalent that it has increased
                                        shares and/or total loans
                                        outstanding by at least 25% of
                                        the requested FA award amount
                                        (including all awards requiring
                                        Matching Funds) between December
                                        31, 2020, and December 31, 2021.
                                        The Matching Funds are
                                        not In-Hand until the Recipient
                                        has increased its member and/or
                                        non-member shares, deposits and/
                                        or total loans outstanding by
                                        the amount of retained earnings
                                        since inception that are being
                                        used as Matching Funds.
                                     If option (iii) is used for
                                     Insured Depository Institutions or
                                     Depository Institution Holding
                                     Companies, the Applicant or its
                                     Subsidiary CDFI Insured Depository
                                     Institution (in the case of a
                                     Depository Institution Holding
                                     Company) must increase deposits and/
                                     or total loans outstanding by an
                                     amount equal to the amount of
                                     retained earnings committed as
                                     Matching Funds. Depository
                                     Institution Holding Company
                                     Applicants must use the call
                                     reports of the Subsidiary CDFI
                                     Insured Depository Institution that
                                     the requested the FA award will
                                     support.
                                        This increase (1) will
                                        be measured on a quarterly basis
                                        from March 31, 2022; (2) must
                                        occur by December 31, 2023; and
                                        (3) will be based on amounts
                                        reported in the call report.
                                        The CDFI Fund will
                                        assess the likelihood of this
                                        increase during the Application
                                        review process.
                                        An award will not be
                                        made to any Applicant that has
                                        not demonstrated in the relevant
                                        call reports that it has
                                        increased deposits and/or total
                                        loans outstanding by at least
                                        25% of the requested FA award
                                        amount (including all awards
                                        requiring Matching Funds)
                                        between December 31, 2020, and
                                        December 31, 2021.
                                        The Matching Funds are
                                        not In-Hand until the Recipient
                                        has increased its deposits and/
                                        or total loans outstanding by
                                        the amount of retained earnings
                                        since inception that are being
                                        used as Matching Funds.
                                        All regulated Applicants
                                        utilizing the option (iii)
                                        should refer to the Retained
                                        Earnings Guidance included in
                                        the Retained Earnings Calculator
                                        Excel Workbook found on the CDFI
                                        Fund's website.
------------------------------------------------------------------------
*The requirements set forth in Table 9 are applicable to Category II
  (Core) FA Applicants, with the exception of Native American CDFIs,
  applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds
  requirements were permanently waived for Native American CDFIs.
  Therefore, the requirements set forth in Table 9 are not applicable to
  Native American CDFI Applicants for the FY 2022 Funding Round.
  Category I (SECA) FA Applicants and HFFI-FA Applicants are not
  required to submit Matching Funds at the time of Applications
  submission but the CDFI Fund reserves the right to request Matching
  Funds from these Applicants if the Matching Funds requirement is not
  waived in the final FY 2022 CDFI Program appropriations.


[[Page 8097]]

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/cdfi. 
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 FY 2022 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 10--Required Application Documents
------------------------------------------------------------------------
                                                           Submission
      Application documents          Applicant type          format
------------------------------------------------------------------------
Active AMIS Account..............  All Applicants....  AMIS.
SF-424...........................  All Applicants....  Fillable PDF in
                                                        Grants.gov.
CDFI Program Application           All Applicants....  AMIS.
 Components:.
     Funding Application
     Detail.
     Data, Charts, and
     Narrative sections as listed
     in AMIS and outlined in
     Application materials.
     Matching Funds (FA
     Core Applicants, with the
     exception of Native American
     CDFIs).
PPC-FA Application Components:...  PPC-FA Applicants.  AMIS.
     Funding Application
     Detail.
     Narratives..........
     AMIS Charts.........
DF-FA Application Components:....  DF-FA Applicants..  AMIS.
     Funding Application
     Detail.
     Narratives..........
     AMIS Charts.........
HFFI-FA Application Components:..  HFFI-FA Applicants  AMIS.
     Funding Application
     Detail.
     Narratives..........
     AMIS charts.........
------------------------------------------------------------------------
                     ATTACHMENTS TO THE APPLICATION
------------------------------------------------------------------------
Key Staff Resumes................  All Applicants....  PDF or Word
                                                        document in
                                                        AMIS.
Organizational Chart.............  All Applicants....  PDF in AMIS.
Completed, final Audited           FA Applicants and   PDF in AMIS.
 financial statements for the       TA Applicants, if
 Applicant's Three Most Recent      available: loan
 Historic Fiscal Years.             funds, Venture
                                    Capital Funds,
                                    and other non-
                                    Regulated
                                    Institutions.
Management Letter for the          FA Applicants and   PDF in AMIS.
 Applicant's Most Recent Historic   TA Applicants, if
 Fiscal Year. The Management        available: loan
 Letter is prepared by the          funds, Venture
 Applicant's auditor and is a       Capital Funds,
 communication on internal          and other non-
 control over financial             Regulated
 reporting, compliance, and other   Institutions.
 matters. The Management 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(s) in Lieu of            FA Applicants:      AMIS.
 Management Letter for              Loan funds,
 Applicant's Most Recent Historic   Venture Capital
 Fiscal Year using the template     Funds, and other
 available as part of the           non-Regulated
 Application in AMIS and attested   Institutions, TA
 to by an Authorized                Applicants, if
 Representative of the Applicant.   audited financial
 (required only if Management       statements ARE
 Letters are not available for      available but the
 audited financial statements).     Management
                                    Letters are NOT
                                    available: Loan
                                    funds, Venture
                                    Capital Funds,
                                    and other non-
                                    Regulated
                                    Institutions.

[[Page 8098]]

 
Unaudited financial statements     FA and TA           PDF in AMIS.
 for Applicant's Three Most         Applicants, if
 Recent Historic Years (required    available: Loan
 if available, and only if          funds, Venture
 audited financial statements are   Capital Funds,
 not available).                    and other non-
                                    Regulated
                                    Institutions.
Current Year to Date--December     FA and TA           PDF in AMIS.
 31, 2021 Unaudited financial       Applicants: Loan
 statements.                        funds, Venture
                                    Capital Funds,
                                    and other non-
                                    Regulated
                                    Institutions.
Community Partnership Agreement..  FA Applicants, if   PDF or Word
                                    applicable.         document in
                                                        AMIS.
Retained Earnings Calculator       FA Core             Excel in AMIS.
 Excel Workbook (required only if   Applicants, if
 using retained earnings as         applicable.
 Matching Funds).
Call reports for each fiscal year  FA Core             PDF in AMIS.
 reported in the Retained           Applicants:
 Earnings Calculator.               Regulated
                                    Institutions that
                                    are using
                                    retained earnings
                                    as Matching Funds.
Equity Investment Matching Funds   FA Core             PDF or Word
 Documentation.                     Applicants: For-    document in
                                    profit CDFIs that   AMIS.
                                    are using In-Hand
                                    Equity
                                    Investment(s) as
                                    Matching Funds.
Deposits Matching Funds            FA Core             PDF or Word
 Documentation.                     Applicants:         document in
                                    Regulated           AMIS.
                                    Institutions that
                                    are using In-Hand
                                    Deposits as
                                    Matching Funds.
------------------------------------------------------------------------

    C. Application Submission: The CDFI Fund has a two-step process 
that requires the submission of Required Application Documents (listed 
in Table 10) 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 12.
    All Applicants must register in the Grants.gov system to 
successfully submit the SF-424. The Grants.gov registration process can 
take 45 days or longer to complete and the CDFI Fund strongly 
encourages Applicants to start the Grants.gov registration process as 
early as possible (refer to the following link: http://www.grants.gov/web/grants/register.html). Since the Grants.gov registration process 
requires Applicants to have DUNS and EIN numbers, Applicants without 
these required numbers should allow for additional time to complete the 
Grants.gov registration process. Further, as described in Section IV. 
(E) of this NOFA, new requirements for registration in the System for 
Awards Management (SAM), which is required as part of the Grants.gov 
registration process, may take more time than in recent years. 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. The SAM registration process may take one month or longer to 
complete. 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

[[Page 8099]]

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 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.

            Table 11_Grants.gov Registration Timeline Summary
------------------------------------------------------------------------
                                                      Estimated minimum
            Step                     Agency           time to complete
------------------------------------------------------------------------
Obtain a DUNS number........  Dun & Bradstreet....  One (1) Week. *
Obtain an EIN Number........  Internal Revenue      Two (2) Weeks. *
                               Service (IRS).
Register in SAM.gov.........  System for Award      Four (4) Weeks. *
                               Management
                               (SAM.gov).
Register in Grants.gov......  Grants.gov..........  One (1) Week. **
------------------------------------------------------------------------
* Applicants are advised that the stated durations are estimates only
  and represent minimum timeframes. Actual timeframes may take longer.
  The CDFI Fund will deem ineligible any Applicant that fails to
  properly register or activate its SAM account, has not yet received a
  DUNS or EIN number, and/or fails to properly register in Grants.gov.
** This estimate assumes an Applicant has a DUNS number, an EIN number,
  and is already registered in SAM.gov.

    F. Submission Dates and Times:
    1. Submission Deadlines: The following table provides the critical 
deadlines for the FY 2022 Funding Round.

                  Table 12--FY 2022 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
          Description                     Deadline               Time  (eastern Time--ET)      Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards     March 14, 2022............  11:59 p.m. ET...................  AMIS.
 Management Information Systems
 (AMIS) Account (all
 Applicants).
Last day to enter EIN and DUNS   March 14, 2022............  11:59 p.m. ET...................  AMIS.
 numbers in AMIS (all
 Applicants).
Last day to submit SF-424        March 14, 2022............  11:59 p.m. ET...................  Electronically
 (Application for Federal                                                                       via Grants.gov.
 Assistance).
Last day for SECA FA Applicants  March 14, 2022............  11:59 p.m. ET...................  Service Request
 to request creation of a Core-                                                                 via AMIS.
 FA Application (if requesting
 more than $700,000).
Last day to contact CDFI         April 8, 2022.............  5:00 p.m. ET....................  Service Request
 Program staff.                                                                                 via AMIS. Or
                                                                                                CDFI Fund
                                                                                                Helpdesk: 202-
                                                                                                653-0421.
Last day to contact AMIS-IT      April 12, 2022............  5:00 p.m. ET....................  Service Request
 Help Desk (regarding AMIS                                                                      via AMIS. Or 202-
 technical problems only).                                                                      653-0422. Or
                                                                                                [email protected].
Last day to submit CDFI Program  April 12, 2022............  11:59 p.m. ET...................  AMIS.
 Application for Financial
 Assistance (FA) or Technical
 Assistance (TA).
----------------------------------------------------------------------------------------------------------------

    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 Program 
Funding Opportunity Number by the applicable deadline. All other 
Required Application Documents (listed in Table 10) 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 10. 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 all Required Application 
Documents listed in Table 10, 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

[[Page 8100]]

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 Base-FA or TA Application 
under the CDFI Program. 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 or AMIS Account Creation: 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 listed in Table 1 and Table 12. 
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 listed in Table 1 and Table 12. The CDFI Fund will 
also not accept an Application from an Applicant that failed to create 
an AMIS account by the deadlines specified in Table 1 and Table 12. In 
these cases, 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 technological error directly 
resulted in precluding an Applicant from submitting the SF-424, the 
Application, or creating an AMIS account by the deadlines stated in 
this NOFA, Applicants are provided the opportunity to submit a written 
request for acceptance of late submissions. The CDFI Fund will not 
consider the late submission of the SF-424, the Application, or the 
late creation of an AMIS account 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 technological error.
    a. Creation of AMIS Account: In cases where a Federal government 
administrative or technological error directly resulted in precluding 
an Applicant from creating an AMIS account by the required deadline, 
the Applicant must submit a written request for approval to create its 
AMIS account after the deadline, and include documentation of the 
error, no later than two business days after the AMIS account creation 
deadline. The CDFI Fund will not respond to requests for creating an 
AMIS account after that time. Applicants must submit such request via 
an AMIS Service Request to the CDFI Program or an email to 
[email protected] with a subject line of ``AMIS Account Creation 
Deadline Extension Request.''
    b. SF-424 Late Submission: In cases where a Federal government 
administrative or technological error directly resulted in precluding 
an Applicant from submitting the SF-424 by the required deadline, 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.''
    c. Application Late Submission: In cases where a Federal government 
administrative or technological error directly resulted in precluding 
an Applicant from submitting the Application in AMIS by the required 
deadline, 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 
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: Base-FA, PPC-FA, DF-FA, HFFI-FA and TA 
awards are limited by the following:
    1. Base-FA Awards:
    a. A Recipient shall use Base-FA 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, Base-FA 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.
    c. Base-FA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay Base-FA 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.
    2. PPC-FA Awards:
    a. A Recipient shall use PPC-FA funds only for the eligible 
activities described in Section II. (C)(5) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, PPC-FA 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.
    c. PPC-FA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay PPC-FA 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.
    3. DF-FA Awards:
    a. A Recipient shall use DF-FA funds only for the eligible 
activities described in Section II. (C)(2) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, DF-FA 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.
    c. DF-FA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay DF-FA 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.
    4. HFFI-FA Awards:
    a. A Recipient shall use HFFI-FA funds only for the eligible 
activities described in Section II. (C)(4) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company

[[Page 8101]]

Applicants, HFFI-FA 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.
    c. HFFI-FA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay HFFI-FA 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.
    5. TA Grants:
    a. A Recipient shall use TA funds only for the eligible activities 
described in Section II. (C) (3) of this NOFA and its Assistance 
Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, TA 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.
    c. TA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay TA 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 risk 
that its Application will be rejected. The CDFI Fund will review the 
Base-FA, DF-FA, PPC-FA, HFFI-FA, and TA Applications in accordance with 
the process below. All internal and external 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. Base-FA Application Scoring, Award Selection, Review, and 
Selection Process: The CDFI Fund will evaluate each Application using a 
five-step review process illustrated in the sections below. Applicants 
that meet the minimum criteria will advance to the next step in the 
review process. Applicants applying as a Community Partnership must 
describe the partnership in the Application pursuant to the 
requirements set forth in Table 8, and will be evaluated in accordance 
with the review process described below.
    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: 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 8, 
each Regulated Institution FA Applicant (including a subsidiary 
Depository Institution that will expend and carry out the activities of 
an award on behalf of a Depository Institution Holding Company 
Applicant) must have a CAMELS/CAMEL rating of at least ``3'' and/or no 
significant material 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), or 
three (3) to advance to Step 3. Applicants that receive an initial 
Total Financial Composite Score of four (4) or five (5) will be re-
evaluated and re-scored by CDFI Fund staff. If the Total Financial 
Composite Score remains four (4) or five (5) after CDFI Fund staff 
review, the Applicant will not advance to Step 3.
    ii. Step 2: 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 re-evaluated by CDFI Fund staff. If the Applicant is deemed a high 
compliance risk after CDFI Fund staff review, the Applicant will not 
advance to Step 3.
    c. Step 3: Business Plan Review: Applicants that proceed to Step 3 
will be evaluated on the soundness of their comprehensive business 
plan. Two external non-CDFI Fund Reviewers will conduct the Step 3 
evaluation. Reviewers will evaluate the Application sections listed in 
Table 13. All Applications will be reviewed in accordance with standard 
reviewer evaluation materials. Applications will be ranked based on 
Total Business Plan Scores, in descending order. In order to advance to 
Step 4, Applicants must receive a Total Business Plan Score that is 
either (1) equal to receiving a point score equivalent to a ``Good'' 
out of a ranking scale in descending order of Excellent, Good, Fair, 
Limited or Poor, in each section listed in Table 13, or (2) within the 
top 60% of the Core Applicant pool for Core Applicants or within the 
top 70% of the SECA Applicant pool for SECA Applicants, whichever is 
greater. In the case of tied Total Business Plan Scores that would 
prevent an Applicant from moving to Step 4, all Applicants with the 
same score will progress to Step 4. Lastly, the CDFI Fund may consider 
the geographic diversity of Applicants when determining the Step 4 
Applicant pool.

                         Table 13--Step 3: Base-FA Business Plan Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
    Base-FA application sections               Possible score                    Score needed to advance
----------------------------------------------------------------------------------------------------------------
Executive Summary...................  Not Scored......................  N/A.

[[Page 8102]]

 
Business Strategy...................  12..............................  N/A.
Market and Competitive Analysis.....  7...............................  N/A.
Products and Services...............  12..............................  N/A.
Management and Track Record.........  12..............................  N/A.
Growth and Projections..............  7...............................  N/A.
                                     ---------------------------------------------------------------------------
    Total Business Plan Score.......  50..............................  Core Applicants: Top 60% of all Core
                                                                         Applicant Step 3 Scores. SECA
                                                                         Applicants: Top 70% of all SECA
                                                                         Applicant Step 3 Scores.
----------------------------------------------------------------------------------------------------------------

    d. Step 4: Policy Objective Review: The CDFI Fund internal 
reviewers will evaluate each Application to determine its ability to 
meet policy objectives of the CDFI Fund. Each Applicant will be 
evaluated in each of the categories listed in Table 14 below, and will 
receive a Total Policy Objective Review Composite Score on a scale of 
one (1) to five (5), with one (1) being the highest score. Applicants 
are then grouped according to Total Policy Objective Review Scores.
    The CDFI Fund also conducts a due diligence review for Applications 
that includes an analysis of programmatic risk factors including, but 
not limited to: History of performance in managing Federal awards 
(including timeliness of reporting and compliance); ability to meet FA 
Objective(s) selected by Base-FA Applicants in their Applications; 
reports and findings from audits; and the Applicant's ability to 
effectively implement Federal requirements, each of which could impact 
the Total Policy Objective Review Score.

                            Table 14--Step 4: Base-FA Policy Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
              Section                  Possible scores      High score            Score needed to advance
----------------------------------------------------------------------------------------------------------------
Economic Distress.................  1, 2, 3, 4, or 5....               1  N/A.
Economic Opportunities............  1, 2, 3, 4, or 5....               1  N/A.
Community Collaboration...........  1, 2, 3, 4, or 5....               1  N/A.
                                   -----------------------------------------------------------------------------
    Total Policy Objective Review   1, 2, 3, 4, or 5....               1  All Scores Advance.
     Composite Score.
----------------------------------------------------------------------------------------------------------------

    e. Step 5: Award Amount Determination: The CDFI Fund determines an 
award amount for each Application based on the Step 4 Total Policy 
Objective Review Score, the Applicant's request amount, and on certain 
other factors, including but not limited to, the Applicant's deployment 
track record, minimum award size, and funding availability. Applicants 
may have Award amounts reduced from the requested award amount or not 
funded as a result of this analysis. Based on funding availability for 
Core, SECA, and/or NACA Base-FA Applicant types, the CDFI Fund reserves 
the right to not award all Applicants that advance to Step 5. In cases 
where funding availability is not sufficient to award all Applications, 
priority will be given to Applicants that score highest on the Step 4 
Policy Objective review in each Applicant type Category (Core, SECA 
and/or NACA). For Core FA Applicants, the award cannot exceed 30% of 
the Applicant's total portfolio outstanding as of the Applicant's most 
recent historic fiscal year end. For SECA FA Applicants, the award 
cannot exceed 75% of the Applicant's total portfolio outstanding as of 
the Applicant's most recent historic fiscal year end, or the minimum 
award size as noted in Table 2, whichever is greater.
    2. Healthy Food Financing Initiative-FA (HFFI-FA) Application 
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund 
internal reviewer will evaluate each HFFI-FA Application associated 
with a Base-FA Application that progresses to Step 4 of the FA 
Application review process. The reviewer will evaluate the Application 
sections listed in Table 15 and assign a Total HFFI-FA Score up to 60 
points. The CDFI Fund will make awards to the highest scoring 
Applicants first. All Applications will be reviewed in accordance with 
standard reviewer evaluation materials. Applicants that fail to receive 
a Base-FA award will not be considered for a HFFI-FA award.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration for an HFFI-FA award. Award 
amounts may be reduced from the requested award amount as a result of 
this analysis. The CDFI Fund may reduce awards sizes from requested 
amounts based on certain variables, including but not limited to, an 
Applicant's loan disbursement activity, total portfolio outstanding, or 
compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may 
consider the geographic diversity of Applicants when making its funding 
decisions.

          Table 15--Step 4 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
                                                         Possible score
                       Sections                             (points)
------------------------------------------------------------------------
Target Market Profile.................................                10
Healthy Food Financial Products.......................                10
Projected HFFI-FA Activities..........................                15

[[Page 8103]]

 
HFFI Track Record.....................................                20
Management Capacity for Providing Healthy Food                         5
 Financing............................................
                                                       -----------------
    Total HFFI-FA Possible Score......................                60
------------------------------------------------------------------------

    3. Persistent Poverty Counties--Financial Assistance (PPC-FA) 
Application Scoring, Award Selection, Review, and Selection Process: A 
CDFI Fund internal reviewer will evaluate the PPC-FA request of each 
associated Base-FA Application that progresses to Step 4 of the FA 
Application review process. PPC-FA requests are not scored. PPC-FA 
award amounts will be determined based on the total number of eligible 
Applicants and funding availability, the Applicant's requested amount, 
and on certain factors, including but not limited to, an Applicant's 
overall portfolio size, historical track record of deployment in PPC, 
pipeline of projects in PPC, minimum award size, and funding 
availability. Applicants that fail to receive a Base-FA award will not 
be considered for a PPC-FA award.
    4. Disability Funds-Financial Assistance (DF-FA) Application 
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund 
internal reviewer will evaluate each DF-FA Application associated with 
a Base-FA Application that progresses to Step 4 of the FA Application 
review process. The reviewer will evaluate the Application and assign a 
Total DF-FA Score on a scale of one (1) to three (3), with one (1) 
being the highest score. Applicants are then grouped according to Total 
DF-FA Score. All Applications will be reviewed in accordance with 
standard reviewer evaluation materials. Applicants that fail to receive 
a Base-FA award will not be considered for a DF-FA award. Award amounts 
will be determined on the basis of the Total DF-FA Score, the 
Applicant's requested amount, and on certain factors, including but not 
limited to, an Applicant's deployment track record, minimum award size, 
and funding availability. Award amounts may be reduced from the 
requested award amount as a result of this analysis. The CDFI Fund will 
make awards to the highest scoring Applicants first.

           Table 16--Step 3 DF-FA Application Scoring Criteria
------------------------------------------------------------------------
              Section                  Possible scores      High score
------------------------------------------------------------------------
DF-FA Narrative Questions.........  1, 2, or 3..........               1
                                   -------------------------------------
    Total DF-FA Score.............  1, 2, or 3..........               1
------------------------------------------------------------------------

    5. Technical Assistance (TA) Application Scoring, Award Selection, 
Review, and Selection Process: The CDFI Fund will evaluate each 
Application to determine its eligibility pursuant to Section III of 
this NOFA. If the Application satisfies the eligibility criteria, the 
CDFI Fund will evaluate the TA Application. Emerging CDFI Applicants 
must receive a rating of Low Risk or Medium Risk in Section I of the TA 
Business Plan Review to progress to Section II of the TA Business Plan 
Review. Emerging CDFI Applicants that receive a rating of High Risk in 
Section I of the TA Business Plan Review will not be considered for an 
award. Section I of the TA Business Plan Review is not applicable for 
Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants 
must receive a rating of Low Risk or Medium Risk in Section II of the 
TA Business Plan Review to be considered for an award. Applicants that 
receive a rating of High Risk in Section II of the TA Business Plan 
Review will not be considered for an award. An Applicant that is a 
Certified CDFI will be evaluated on the demonstrated need for TA 
funding to build the CDFI's capacity, further the Applicant's strategic 
goals, and achieve impact within the Applicant's Target Market. An 
Applicant that is an Emerging CDFI will be evaluated on the Applicant's 
demonstrated capability and plan to achieve CDFI certification within 
three years, or if a prior Recipient, the certification PG&M stated in 
its prior Assistance Agreement. An Applicant that is an Emerging CDFI 
will also be evaluated on its demonstrated need for TA funding to build 
the CDFI's capacity and further its strategic goals. The CDFI Fund will 
rate each part of the TA Business Plan Review as indicated in Table 17.

                                        Table 17--A Business Plan Review
----------------------------------------------------------------------------------------------------------------
   Business plan review component          Applicant type                            Ratings
----------------------------------------------------------------------------------------------------------------
Section I:
    Primary Mission................  Emerging CDFI Applicants..  Low Risk, Medium Risk, or High Risk.
    Financing Entity...............  Emerging CDFI Applicants..
    Target Market..................  Emerging CDFI Applicants..
    Accountability.................  Emerging CDFI Applicants..
    Development Services...........  Emerging CDFI Applicants..
Section II:
    Target Market Needs & Strategy.  Emerging and Certified      Low Risk, Medium Risk, or High Risk.
                                      CDFI Applicants.
    Organizational Capacity........  Emerging and Certified
                                      CDFI Applicants.

[[Page 8104]]

 
    Management Capacity............  Emerging and Certified
                                      CDFI Applicants.
----------------------------------------------------------------------------------------------------------------

    Each TA Application will be evaluated by one internal CDFI Fund 
reviewer. All Applications will be reviewed in accordance with CDFI 
Fund standard reviewer evaluation materials for the Business Plan 
Review.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration for an award. This due 
diligence includes an analysis of programmatic and financial risk 
factors including, but not limited to, financial stability, history of 
performance in managing Federal awards (including timeliness of 
reporting and compliance), reports and findings from audits, and the 
Applicant's ability to effectively implement Federal requirements. The 
CDFI Fund will also 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 re-evaluated 
by CDFI Fund staff. If the Applicant is deemed a high compliance risk 
after CDFI staff review, the Applicant will not be considered for an 
award. The CDFI Fund will also evaluate the Applicant's ability to meet 
certification criteria of being a legal entity and a non-government 
entity. Award amounts may be reduced as a result of the due diligence 
analysis in addition to consideration of the Applicant's funding 
request and similar factors. Lastly, the CDFI Fund may consider the 
geographic diversity of Applicants when making its funding decisions.
    6. 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 (including any concerns for 
Subsidiary Depository Institutions carrying out the activities of an 
award on behalf of a CDFI Depository Institution Holding Company), 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.
    7. 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 
CDFI Program award announcement before September 30, 2022. 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.
    D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund 
reviewers are selected based on criteria that includes a professional 
background in community and economic development finance, and 
experience reviewing the financial statements of all CDFI institution 
types. Reviewers must complete the CDFI Fund's conflict of interest 
process and be approved by the CDFI Fund. The CDFI Fund's Application 
reader conflict of interest policy is located on the CDFI Fund's 
website.

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. FA Assistance 
Agreements have three-year Periods of Performance. TA Assistance 
Agreements have two-year Period of Performance for Certified CDFIs and 
three-year Periods of Performance for Emerging CDFIs.
    1. Certificate of Good Standing: All FA and TA 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 Federal Award Date of 
the Assistance Agreement. Due to potential backlogs in state government 
offices, Applicants are advised to submit requests for certificates of 
good standing no later

[[Page 8105]]

than 60 days after 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 of FA or TA may be made. FA Recipients that are subject to the 
Matching Funds requirement will not receive a payment until 100% of 
their Matching Funds are In-Hand. The first payment is the estimated 
amount of the award that the Recipient states in its Application that 
it will use for eligible FA or TA activities in the first 12 months 
after the award announcement. The CDFI Fund reserves the right to 
increase the first payment amount on any award to ensure that any 
subsequent payments are at least $25,000 for FA and $5,000 for TA 
awards.
    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. 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 (to the extent that the 
award is conditional upon CDFI certification); 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 any prior award from the CDFI Fund; 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:

    Table 18--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 Award
                                     Agreement(s), Allocation
                                     Agreement(s), and/or Assistance
                                     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             An FA Recipient must be a
 certification.                      Certified CDFI.
                                     If an FA Recipient fails to
                                     maintain CDFI certification, the
                                     CDFI Fund will terminate and
                                     rescind the Assistance Agreement
                                     and the award made under this NOFA.
                                     If a TA Recipient is a
                                     Certified CDFI at the time of award
                                     announcement, it must maintain CDFI
                                     certification.
                                     If a Certified CDFI TA
                                     Recipient fails to maintain CDFI
                                     certification, the CDFI Fund may
                                     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), Allocation
                                     Agreement(s), and/or Assistance
                                     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), Allocation
                                     Agreement(s), and/or Assistance
                                     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.Sec.   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), Executive Order
                                     13166, Improving Access to Services
                                     for Persons with Limited English
                                     Proficiency, and Title IX of the
                                     Education Amendments of 1972, 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.

[[Page 8106]]

 
                                     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 19--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.
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
                                     Financial Assistance 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 Financial Assistance, the
                                     Depository Institution Holding
                                     Company must submit a TLR. The TLR
                                     is not required for TA Recipients.
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 Financial Assistance
                                     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 Financial Assistance, the
                                     Depository Institution Holding
                                     Company must submit a Uses of Award
                                     Report.
Shareholders Report...............  If the Assistance is in the form of
                                     an Equity Investment, the Recipient
                                     must submit shareholder information
                                     to the CDFI Fund showing the class,
                                     series, number of shares and
                                     valuation of capital stock held or
                                     to be held by each shareholder. The
                                     Shareholder Report must be
                                     submitted for as long as the CDFI
                                     Fund is an equity holder. The
                                     Shareholders Report is submitted
                                     through AMIS.
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 Financial Assistance
                                     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
                                     Financial Assistance, 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.

    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 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 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 Program award. 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.

[[Page 8107]]

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 12. The CDFI Fund strongly recommends 
Applicants submit questions to the CDFI Fund via an AMIS Service 
Request to the CDFI Program, Office of Compliance Monitoring and 
Evaluation, Office of Certification Policy and Evaluation, or IT Help 
Desk. The CDFI Fund will post on its website responses to reoccurring 
questions received about 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 20 lists CDFI Fund 
contact information:

                                          Table 20--Contact Information
----------------------------------------------------------------------------------------------------------------
                                                                 Telephone number (not
           Type of question                Preferred method            toll free)            Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program.........................  Service Request via      202-653-0421, option 1.  [email protected]
                                        AMIS.
CME..................................  Service Request via      202-653-0423...........  [email protected]
                                        AMIS.
CPE..................................  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 Program, and NACA 
Program Application has been assigned the following control number: 
1559-0021, inclusive of PPC-FA, DF-FA, and HFFI-FA.
    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: 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. 2022-02902 Filed 2-10-22; 8:45 am]
BILLING CODE 4810-70-P