[Federal Register: October 4, 2006 (Volume 71, Number 192)]
[Notices]
[Page 58661-58670]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04oc06-108]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Funding Opportunity Title: Revised Notice of Funds Availability
(NOFA) Inviting Applications for the FY 2007 Funding Round of the
Native American CDFI Assistance (NACA) Program
Announcement Type: Initial announcement of funding opportunity.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
DATES: Applications for the FY 2007 Funding Round of the NACA Program
must be received by 5 p.m. ET on January 30, 2007.
EXECUTIVE SUMMARY: On December 21, 2005, the Community Development
Financial Institutions Fund (the Fund) published a NOFA in the Federal
Register (70 FR 75872) in connection with two consecutive funding
rounds of the NACA Program: (i) The FY 2006 Funding Round and (ii) the
FY 2007 Funding Round. Through this revised NOFA, the Fund announces
revised dates for the FY 2007 Funding Round. Because the FY 2006
Funding Round is now complete, this revised NOFA is being issued for
the FY 2007 Funding Round only. Parties interested in the FY 2007
Funding Round should review and refer to this revised NOFA,
disregarding the December 21, 2005 NOFA, as the FY 2007 Funding Round
dates in the December 21, 2005 NOFA have been changed.
I. Funding Opportunity Description
A. Through the NACA Program, the Fund provides Financial Assistance
(FA) awards to Community Development Financial Institutions (CDFIs)
that have at least 50 percent of their activities directed toward
serving Native American, Alaska Native and/or Native Hawaiian
communities (Native CDFIs) in order to build their capacity to better
address the community development and capital access needs of their
Target Market(s) and to expand into new Investment Areas, Low-Income
Targeted Populations, or Other Targeted Populations. Through the NACA
Program, the Fund provides Technical Assistance (TA) grants to entities
that propose to become Native CDFIs, and to Native organizations,
Tribes and Tribal organizations (Sponsoring Entities) that propose to
create Native CDFIs, in order to build their capacity to better address
the community development and capital access needs of their Target
Market(s), to expand into new Investment Areas, Low-Income Targeted
Populations, or Other Targeted Populations, or to create Native CDFIs.
B. The regulations governing the CDFI Program, found at 12 CFR part
1805 (the Interim Rule), provide relevant guidance on evaluation
criteria and other requirements of the NACA Program. The Fund
encourages Applicants to review the Interim Rule. Detailed application
content requirements are found in the applicable funding application
and related guidance materials. Each capitalized term in this NOFA is
more fully defined in the Interim Rule, the application or the guidance
materials.
C. The Fund reserves the right to fund, in whole or in part, any,
all, or none of the applications submitted in response to this NOFA.
The Fund reserves the right to re-allocate funds from the amount that
is anticipated to be available under this NOFA to other Fund programs,
particularly if the Fund determines that the number of awards made
under this NOFA is fewer than projected.
II. Award Information
A. Funding Availability
1. FY 2007 Funding Round
Through the FY 2007 Funding Round, and subject to funding
availability, the Fund expects that it may award approximately $3.5
million in appropriated funds through the NACA Program. The Fund
reserves the right to award in excess of $3.5 million in appropriated
funds to Applicants in the FY 2007 Funding Round, provided that the
funds are available and the Fund deems it appropriate.
2. Availability of Funds for the FY 2007 Funding Round
Funds for the FY 2007 Funding Round have not yet been appropriated.
If funds are not appropriated for the FY 2007 Funding Round, there will
not be a FY 2007 Funding Round. Further, it is possible that if funds
are appropriated for the FY 2007 Funding Round, the amount of such
funds may be less than the amounts set forth above.
B. Types of Awards
An NACA Program Applicant may submit an application for: (i) An FA
award; (ii) an FA award and a TA grant; or (iii) a TA grant.
1. FA Awards
The Fund may provide FA awards in the form of equity investments
(including, in the case of certain Insured Credit Unions, secondary
capital accounts), grants, loans, deposits, credit union shares, or any
combination thereof. The Fund reserves the right, in its sole
discretion, to provide an FA award in a form and amount other than that
which is requested by an Applicant. The Fund reserves the right, in its
sole discretion, to provide an FA award on the condition that the
Applicant agrees to use a TA grant for specified capacity building
purposes, even if the Applicant has not requested a TA grant.
2. TA Grants
(a) The Fund may provide TA awards in the form of grants. The Fund
reserves the right, in its sole discretion, to provide a TA grant for
uses and amounts other than and in addition to that which are requested
by an Applicant.
(b) TA grants may be used to address a variety of needs including,
but not limited to, development of strategic planning documents (such
as business, strategic or capitalization plans), market analyses or
product feasibility analyses, operational policies and procedures,
curricula for Development Services (such as entrepreneurial training,
home
[[Page 58662]]
buyer education, financial education or training, borrower credit
repair training), improvement of underwriting and portfolio management,
development of outreach and training strategies to enhance product
delivery, operating support to expand into a new Target Market, and
tools that allow the Applicant to assess the impact of its activities
in its community. Each Applicant for a TA grant through this NOFA is
required to provide information in the application regarding the
expected cost, timing and provider of the TA, and a narrative
description of how the TA grant will enhance its capacity to provide
greater community development impact, to become certified as a Native
CDFI, or to create a Native CDFI, if applicable.
(c) Eligible TA grant uses include, but are not limited to: (i)
Acquiring consulting services; (ii) acquiring/enhancing technology
items, including computer hardware, software and Internet connectivity;
(iii) acquiring training for staff, management and/or board members;
and (iv) paying recurring expenses, including staff salary and other
key operating expenses, that will enhance the capacity of the Applicant
to serve its Target Market, and/or to become certified as a Native CDFI
or to create a Native CDFI.
C. Notice of Award; Assistance Agreement
Each Awardee under this NOFA must sign a Notice of Award and an
Assistance Agreement in order to receive a disbursement of award
proceeds by the Fund. The Notice of Award and the Assistance Agreement
contain the terms and conditions of the award. For further information,
see Sections VI.A and VI.B of this NOFA.
III. Eligibility Information
A. Eligible Applicants
The Interim Rule specifies the eligibility requirements that each
Applicant must meet in order to be eligible to apply for assistance
under this NOFA. The following sets forth additional detail and dates
that relate to the submission of applications under this NOFA:
1. CDFI Certification Requirements
For purposes of this NOFA, any Applicant that is a Certified Native
CDFI or a Certifiable Native CDFI may apply for a FA award or a FA
award and a TA grant. An Applicant that is an Emerging Native CDFI or a
Sponsoring Entity may apply for a TA grant only.
(a) Certified Native CDFIs: For purposes of this NOFA, a Certified
Native CDFI is a Certified CDFI that primarily serves (meaning, at
least 50 percent of its activities are directed toward serving) a
Native Community and whose certification has not expired and that has
not been notified by the Fund that its certification has been
terminated. Each such Applicant must include a ``Certification of
Material Event Form'' with its NACA application by the application
deadline, in accordance with the instructions on the Fund's Web site at
http://www.cdfifund.gov.
Please Note: The Fund provided a number of CDFIs with
certifications expiring in 2003 through 2005 written notification
that their certifications had been extended. The Fund will consider
the extended certification date (the later date) to determine
whether those CDFIs meet this eligibility requirement.
(b) Certifiable Native CDFIs: For purposes of this NOFA, a
Certifiable Native CDFI is an entity that primarily serves (meaning, at
least 50 percent of its activities are directed toward serving) a
Native Community and from which the Fund receives a complete CDFI
Certification Application by the applicable deadline of the NACA
Program application, evidencing that the Applicant meets all
requirements to be certified as a CDFI. Applicants may obtain the CDFI
Certification Application through the Fund's Web site at http://www.cdfifund.gov.
Applications for certification must be submitted as
instructed in the application form. FA Applicants that are Certifiable
Native CDFIs please note: while your organization may be conditionally
selected for funding (as evidenced through the Notice of Award), the
Fund will not enter into an Assistance Agreement or disburse FA award
funds unless and until the Fund has certified your organization as a
CDFI. If the Fund is unable to certify your organization as a CDFI
based on the CDFI certification application that your organization
submits to the Fund, the Notice of Award may be terminated and the
award commitment may be cancelled, in the sole discretion of the Fund.
(c) Emerging Native CDFIs: For purposes of this NOFA, an Emerging
Native CDFI is an entity that primarily serves (meaning, at least 50
percent of its activities are directed toward serving) a Native
Community and that demonstrates to the satisfaction of the Fund that it
has a reasonable plan to achieve CDFI certification within a reasonable
timeframe. Emerging CDFIs may only apply for TA grants; they are not
eligible to apply for FA awards. Each Emerging CDFI that is selected to
receive a TA grant will be required, pursuant to its Assistance
Agreement with the Fund, to work toward CDFI certification by a date
certain.
(d) Sponsoring Entities: For purposes of this NOFA, a Sponsoring
Entity is an entity that proposes to create a separate legal entity
that will become certified as a CDFI. For purposes of this NOFA,
Sponsoring Entities include: (a) A Tribe, Tribal entity, Alaska Native
Village, Village Corporation, Regional Corporation, Non-Profit Regional
Corporation/Association, or Inter-Tribal or Inter-Village organization;
(b) an organization whose primary mission is to serve a Native
Community including, but not limited to an Urban Indian Center,
Tribally Controlled Community College, community development
corporation (CDC), training or educational organization, or Chamber of
Commerce, and that primarily serves (meaning, at least 50 percent of
its activities are directed toward serving) a Native Community.
Sponsoring Entities may only apply for TA grants; they are not eligible
to apply for FA awards. Each Sponsoring Entity that is selected to
receive a TA grant will be required, pursuant to its Assistance
Agreement with the Fund, to create a legal entity by a date certain
that will, in turn, seek CDFI certification.
B. Prior Awardees
Applicants must be aware that success in a prior round of any of
the Fund's programs is not indicative of success under this NOFA. Prior
awardees are eligible to apply under this NOFA, except as follows:
1. $5 Million Funding Cap: The Fund is generally prohibited from
obligating more than $5 million in assistance, in the aggregate, to any
one organization and its Subsidiaries and Affiliates during any three-
year period. For the purposes of this NOFA, the period extends back
three years from the date that the Fund signs a Notice of Award issued
to an Awardee under this NOFA.
2. Failure to meet reporting requirements: The Fund will not
consider an application submitted by an Applicant if the Applicant, or
an entity that Controls the Applicant, is Controlled by the Applicant
or shares common management officials with the applicant (as determined
by the Fund) is a prior Fund Awardee or allocatee under any Fund
program and is not current on the reporting requirements set forth in a
previously executed assistance, allocation or award agreement(s) as of
the applicable application deadline of this NOFA. Please note that the
Fund only acknowledges the receipt of reports that
[[Page 58663]]
are complete. As such, incomplete reports or reports that are deficient
of required elements will not be recognized as having been received.
3. Pending resolution of noncompliance: If an Applicant is a prior
Awardee or allocatee under any Fund program and if: (i) It has
submitted complete and timely reports to the Fund that demonstrate
noncompliance with a previous assistance, allocation or award
agreement; and (ii) the Fund has yet to make a final determination as
to whether the entity is in default of its previous assistance,
allocation or award agreement, the Fund will consider the Applicant's
application under this NOFA pending full resolution, in the sole
determination of the Fund, of the noncompliance. Further, if another
entity that Controls the Applicant, is Controlled by the Applicant or
shares common management officials with the Applicant (as determined by
the Fund), is a prior Fund Awardee or allocatee and if such entity: (i)
Has submitted complete and timely reports to the Fund that demonstrate
noncompliance with a previous assistance, allocation or award
agreement; and (ii) the Fund has yet to make a final determination as
to whether the entity is in default of its previous assistance,
allocation, or award agreement, the Fund will consider the Applicant's
application under this NOFA pending full resolution, in the sole
determination of the Fund, of the noncompliance.
4. Default status: The Fund will not consider an application
submitted by an Applicant that is a prior Fund Awardee or allocatee
under any Fund program if, as of the applicable application deadline of
this NOFA, the Fund has made a final determination that such Applicant
is in default of a previously executed assistance, allocation or award
agreement(s). Further, an entity is not eligible to apply for an award
pursuant to this NOFA if, as of the applicable application deadline of
this NOFA, the Fund has made a final determination that another entity
that Controls the Applicant, is Controlled by the Applicant or shares
common management officials with the Applicant (as determined by the
Fund): (i) Is a prior Fund Awardee or allocatee under any Fund program;
and (ii) has been determined by the Fund to be in default of a
previously executed assistance, allocation or award agreement(s).
5. Termination in default: The Fund will not consider an
application submitted by an Applicant that is a prior Fund Awardee or
allocatee under any Fund program if: (i) The Fund has made a final
determination that such Applicant's prior award or allocation
terminated in default of a previously executed assistance, allocation
or award agreement(s); and (ii) the final reporting period end date for
the applicable terminated assistance, allocation or award agreement(s)
falls in Calendar Year 2006. Further, an entity is not eligible to
apply for an award pursuant to this NOFA if: (i) The Fund has made a
final determination that another entity that Controls the Applicant, is
Controlled by the Applicant or shares common management officials with
the Applicant (as determined by the Fund), is a prior Fund Awardee or
allocatee under any Fund program whose award or allocation terminated
in default of a previously executed assistance, allocation or award
agreement(s); and (ii) the final reporting period end date for the
applicable terminated assistance, allocation or award agreement(s)
falls in Calendar Year 2006.
6. Undisbursed balances: The Fund will not consider an application
submitted by an Applicant that is a prior Fund Awardee under any Fund
program if the Applicant has a balance of undisbursed funds (defined
below) under said prior award(s), as of the applicable application
deadline of this NOFA. Further, an entity is not eligible to apply for
an award pursuant to this NOFA if another entity that Controls the
Applicant, is Controlled by the Applicant or shares common management
officials with the Applicant (as determined by the Fund), is a prior
Fund Awardee under any Fund program, and has a balance of undisbursed
funds under said prior award(s), as of the applicable application
deadline of this NOFA. In a case where another entity that Controls the
Applicant, is Controlled by the Applicant or shares common management
officials with the Applicant (as determined by the Fund), is a prior
Fund Awardee under any Fund program, and has a balance of undisbursed
funds under said prior award(s), as of the applicable application
deadline of this NOFA, the Fund will include the combined awards of the
Applicant and such Affiliated entities when calculating the amount of
undisbursed funds. For purposes of this section, ``undisbursed funds''
is defined as: (i) In the case of a prior Bank Enterprise Award (BEA)
Program award(s), any balance of award funds equal to or greater than
five (5) percent of the total prior BEA Program award(s) that remains
undisbursed more than three (3) years after the end of the calendar
year in which the Fund signed an award agreement with the Awardee; and
(ii) in the case of a prior CDFI Program or other Fund program
award(s), any balance of award funds equal to or greater than five (5)
percent of the total prior award(s) that remains undisbursed more than
two (2) years after the end of the calendar year in which the Fund
signed an assistance agreement with the Awardee. ``Undisbursed funds''
does not include (i) tax credit allocation authority made available
through the New Market Tax Credit (NMTC) Program; (ii) any award funds
for which the Fund received a full and complete disbursement request
from the Awardee by the applicable application deadline of this NOFA;
(iii) any award funds for an award that has been terminated, expired,
rescinded or deobligated by the Fund; or (iv) any award funds for an
award that does not have a fully executed assistance or award
agreement. The Fund strongly encourages Applicants requesting
disbursements of ``undisbursed funds'' from prior awards to provide the
Fund with a complete disbursement request at least 10 business days
prior to the applicable application deadline of this NOFA.
7. Exception for Applicants Impacted by Hurricanes Katrina and/or
Rita: Please note that the provisions of paragraphs 2 (Failure to meet
reporting requirements) and 6 (Undisbursed balances) of this section do
not apply to any Applicant that has an office located in, or that
provides a significant volume of services or financing to residents of
or businesses located in, a county that is within a ``major disaster
area'' as declared by the Federal Emergency Management Agency (FEMA) as
a result of Hurricanes Katrina and/or Rita. Said requirements are
waived for those Applicants under this NOFA.
8. Contact the Fund: Accordingly, Applicants that are prior
Awardees are advised to: (i) Comply with requirements specified in
assistance, allocation and/or award agreement(s), and (ii) contact the
Fund to ensure that all necessary actions are underway for the
disbursement or de-obligation of any outstanding balance of said prior
award(s). All outstanding reports, disbursement or compliance questions
should be directed to the Grants Manager by e-mail at
grantsmanagement@cdfi.treas.gov; by telephone at (202) 622-8226; by
facsimile at (202) 622-6453; or by mail to CDFI Fund, 601 13th Street,
NW., Suite 200 South, Washington, DC 20005. The Fund will respond to
Applicants' reporting, disbursement or compliance questions between the
hours of 9 a.m. and 5 p.m. ET, starting the date of the
[[Page 58664]]
publication of this NOFA through January 26, 2007 (two business days
before the application deadline). The Fund will not respond to
Applicants' reporting, disbursement or compliance phone calls or e-mail
inquiries that are received after 5 p.m. on said date, until after the
funding application deadline.
9. Limitation on Awards: An Applicant may receive only one award
through either the CDFI Program or the NACA Program in the same funding
year. An Applicant may apply under both the CDFI Program and the NACA
Program but will not be selected for funding under both. A NACA Program
Applicant, its Subsidiaries or Affiliates also may apply for and
receive: (i) A tax credit allocation through the NMTC Program but only
to the extent that the activities approved for CDFI Program awards are
different from those activities for which the Applicant receives an
NMTC Program allocation; and (ii) an award through the BEA Program
(subject to certain limitations; refer to the Interim Rule at 12 CFR
1805.102).
C. Matching Funds
1. Matching Funds Requirements in General: Applicants responding to
this NOFA must obtain non-Federal matching funds from sources other
than the Federal government on the basis of not less than one dollar
for each dollar of FA funds provided by the Fund (matching funds are
not required for TA grants). Matching funds must be at least comparable
in form and value to the FA award provided by the Fund (for example, if
an Applicant is requesting an FA grant from the Fund, the Applicant
must have evidence that it has obtained matching funds through grant(s)
from non-Federal sources that are at least equal to the amount
requested from the Fund). Funds used by an Applicant as matching funds
for a prior FA award under the CDFI Program or under another Federal
grant or award program cannot be used to satisfy the matching funds
requirement of this NOFA. If an Applicant seeks to use as matching
funds monies received from an organization that was a prior Awardee
under the CDFI Program, the Fund will deem such funds to be Federal
funds, unless the funding entity establishes to the reasonable
satisfaction of the Fund that such funds do not consist, in whole or in
part, of CDFI Program funds or other Federal funds. For the purposes of
this NOFA, BEA Program awards are not deemed to be Federal funds and
are eligible as matching funds. The Fund encourages Applicants to
review the Interim Rule at 12 CFR 1805.500 et seq. and matching funds
guidance materials on the Fund's Web site for further information.
2. Matching Funds Requirements for the FY 2007 Funding Round: Due
to funding constraints and the desire to quickly deploy Fund dollars,
the Fund will not consider for an FA award any Applicant that has no
matching funds in-hand or firmly committed as of the application
deadline under this NOFA. Specifically, a NACA Program Applicant must
demonstrate that it has eligible matching funds equal to no less than
25 percent of the amount of the FA award requested in hand or firmly
committed, on or after January 1, 2005 and on or before the application
deadline. The Fund reserves the right to rescind all or a portion of an
FA award and re-allocate the rescinded award amount to other qualified
Applicant(s), if an Applicant fails to obtain in hand 100 percent of
the required matching funds by March 14, 2008 (with required
documentation of such receipt received by the Fund not later than March
31, 2008), or to grant an extension of such matching funds deadline for
specific Applicants selected to receive FA, if the Fund deems it
appropriate. For any Applicant that demonstrates that it has less than
100 percent of matching funds in hand or firmly committed as of the
application deadline, the Fund will evaluate the Applicant's ability to
raise the remaining matching funds by March 14, 2008.
3. Matching Funds Terms Defined; Required Documentation.
(a) ``Matching funds in-hand'' means that the Applicant has
actually received the matching funds. If the matching funds are ``in-
hand,'' the Applicant must provide the Fund with acceptable written
documentation of the source, form and amount of the Matching Funds
(i.e., grant, loan, and equity investment). For a loan, the Applicant
must provide the Fund with a copy of the loan agreement and promissory
note. For a grant, the Applicant must provide the Fund with a copy of
the grant letter or agreement. For an equity investment, the Applicant
must provide the Fund with a copy of the stock certificate and any
related shareholder agreement. Further, if the matching funds are ``in-
hand,'' the Applicant must provide the Fund with acceptable
documentation that evidences its receipt of the matching funds
proceeds, such as a copy of a check or a wire transfer statement.
(b) ``Firmly committed matching funds'' means that the Applicant
has entered into or received a legally binding commitment from the
matching funds source that the matching funds will be disbursed to the
Applicant. If the matching funds are ``firmly committed,'' the
Applicant must provide the Fund with acceptable written documentation
to evidence the source, form, and amount of the firm commitment (and,
in the case of a loan, the terms thereof), as well as the anticipated
date of disbursement of the committed funds.
(c) The Fund may contact the matching funds source to discuss the
matching funds and the documentation provided by the Awardee. If the
Fund determines that any portion of the Applicant's matching funds is
ineligible under this NOFA, the Fund, in its sole discretion, may
permit the Applicant to offer alternative matching funds as a
substitute for the ineligible matching funds; provided, however, that
(i) the Applicant must provide acceptable alternative matching funds
documentation within 5 business days of the Fund's request and (ii) the
alternative matching funds documentation cannot increase the total
amount of Financial Assistance requested by the Applicant.
4. Special Rule for Insured Credit Unions. Please note that the
Interim Rule allows an Insured Credit Union to use retained earnings to
serve as matching funds for an FA grant in an amount equal to: (i) The
increase in retained earnings that have occurred over the Applicant's
most recent fiscal year; (ii) the annual average of such increases that
have occurred over the Applicant's three most recent fiscal years; or
(iii) the entire retained earnings that have been accumulated since the
inception of the Applicant or such other financial measure as may be
specified by the Fund. For purposes of this NOFA, if option (iii) is
used, the Applicant must increase its member and/or non-member shares
or total loans outstanding by an amount that is equal to the amount of
retained earnings that is committed as matching funds. This amount must
be raised by the end of the Awardee's second performance period, as set
forth in its Assistance Agreement, and will be based on amounts
reported in the Applicant's Audited or Reviewed Financial Statements or
NCUA Form 5300 Call Report.
5. Severe Constraints Exception to Matching Funds Requirement;
Applicability to Applicants Located in FEMA-Designated Major Disaster
Areas Created by Hurricanes Katrina and/or Rita: In the case of any
Applicant that has an office that is located in, or that provides a
significant volume of services or financing to residents of or
businesses located in, any county that is within a ``major disaster
area'' as declared by the Federal Emergency Management Agency (FEMA) as
a result
[[Page 58665]]
of Hurricanes Katrina and/or Rita, and that has severe constraints on
available sources of matching funds, such Applicant may be eligible for
a ``severe constraints waiver'' (see section 1805.203 of the Interim
Rule) if (i) it can demonstrate to the satisfaction of the Fund that an
Investment Area(s) or Targeted Population(s) would not be adequately
served without such a waiver and (ii) it projects to use the assistance
to address issues resulting from Hurricanes Katrina and/or Rita (such
as a significant volume of loan defaults) or to provide financial
products, financial services, or Development Services to residents of
or businesses located in any county that is within a ``major disaster
area'' as declared by FEMA as a result of Hurricanes Katrina and/or
Rita. If eligible for such a waiver, the Applicant may comply with the
matching funds requirements of this NOFA as follows: (i) The matching
funds requirement for such Applicant would be reduced to 50 percent
(meaning, the Applicant must match 50 percent of the Fund's FA award
rather than 100 percent), or (ii) such an Applicant may provide
matching funds in alternative (meaning, non-monetary) forms if the
Applicant has total assets of less than $100,000 at the time of the
application deadline, serves non-metropolitan or rural areas, and is
not requesting more than $25,000 in financial assistance from the Fund.
In the case of item (i) of this paragraph, the Applicant must
demonstrate that it has eligible matching funds equal to no less than
25 percent of the amount of the FA award requested in- hand or firmly
committed, on or after January 1, 2005 and on or before the application
deadline. The Fund reserves the right to rescind all or a portion of an
FA award and re-allocate the rescinded award amount to other qualified
Applicant(s), if an Applicant fails to obtain in- hand 50 percent of
the required matching funds by March 14, 2008 (with required
documentation of such receipt received by the Fund not later than March
31, 2008), or to grant an extension of such matching funds deadline for
specific Applicants selected to receive FA, if the Fund deems it
appropriate. For any such Applicant that demonstrates that it has less
than 50 percent of matching funds in- hand or firmly committed as of
the application deadline, the Fund will evaluate the Applicant's
ability to raise the remaining matching funds by March 14, 2008. In the
case of item (ii) of this paragraph, the NACA Program funding
application contains further instructions on the type of documentation
that the Applicant must provide as evidence that such match was
received and its valuation. The Fund reserves the right, in its sole
discretion, to disallow any such match for which adequate documentation
or valuation is not provided.
IV. Application and Submission Information
A. Form of Application Submission
Applicants may submit applications under this NOFA either (i)
through Grants.gov or (ii) in paper form. Applications sent by
facsimile or other form will not be accepted.
B. Grants.gov
In compliance with Public Law 106-107 and Section 5(a) of the
Federal Financial Assistance Management Improvement Act, the Fund is
required to accept applications submitted through the Grants.gov
electronic system. The Fund has posted to its Web site, at http://www.cdfifund.gov
, instructions for accessing and submitting an
application through Grants.gov. Applicants are encouraged to start the
registration process now at http://www.Grants.gov, as the process may
take several weeks to fully complete. See the following link for
information on getting started on Grants.gov: http://grants.gov/assets/GrantsgovCoBrandBrochure8X11.pdf
.
C. Paper Applications
If an applicant is unable to submit an electronic application, it
must submit to the Fund a request for a paper application using the
CDFI Program Paper Application Submission Form, and the request must be
received by 5 p.m. ET on January 12, 2007. The CDFI Program Paper
Application Submission Form may be obtained from the Fund's Web site at
http://www.cdfifund.gov or the form may be requested by e-mail to
paper_request@cdfi.treas.gov or by facsimile to (202) 622-7754. The
completed CDFI Program Paper Application Submission Form should be
directed to the attention of the Fund's Chief Information Officer and
must be sent by facsimile to (202) 622-7754. These are not toll free
numbers. Paper applications must be submitted in the format and with
the number of copies specified in the application instructions.
D. Application Content Requirements
Detailed application content requirements are found in the
application and guidance. Please note that, pursuant to OMB guidance
(68 FR 38402), each Applicant must provide, as part of its application
submission, a Dun and Bradstreet Data Universal Numbering System (DUNS)
number. In addition, each application must include a valid and current
Employer Identification Number (EIN), with a letter or other
documentation from the Internal Revenue Service (IRS) confirming the
Applicant's EIN. An application that does not include a valid EIN will
be deemed incomplete. Incomplete applications will be rejected and
returned to the sender. Applicants should allow sufficient time for the
IRS and/or Dun and Bradstreet to respond to inquiries and/or requests
for identification numbers. Once an application is submitted, the
Applicant will not be allowed to change any element of the application.
The preceding sentence does not limit the Fund's ability to contact an
Applicant for the purpose of obtaining clarifying or confirming
application information (such as DUNS number or EIN information).
E. MyCDFIFund Accounts
All Applicants must register User and Organization accounts in
myCDFIFund, the Fund's Internet-based interface. As myCDFIFund is the
Fund's primary means of communication with Applicants and Awardees,
organizations must make sure that they update the contact information
in their myCDFIFund accounts. For more information on myCDFIFund,
please see the ``Frequently Asked Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp
.
F. Application Deadlines; Address for Paper Submissions; Late Delivery
Applicants must submit all materials described in and required by
the application by the applicable deadline.
1. Application Deadlines: Applications must be received by the Fund
at the address cited below and in accordance with the instructions
provided on the Fund's Web site, by 5 p.m. ET on January 30, 2007.
2. Address for Application Submission: A complete application must
be received at the following address, by January 30, 2007: CDFI Fund
Grants Manager, NACA Program, Bureau of Public Debt, 200 Third Street,
Parkersburg, WV 26101. The telephone number to be used in conjunction
with overnight delivery or mailings to this address is (304) 480-6088
(this is not a toll free number). Any documents received in any other
office, including the Fund's Washington, DC office, will be rejected
and returned to the sender.
3. Late Delivery: The Fund will neither accept a late application
nor any portion of an application that is late; an application that is
late, or for which any portion is late, will be rejected and
[[Page 58666]]
returned to the sender. An application, including the required signed
signature page, and all required paper attachments, must be received by
the applicable time and date set forth above. The Fund will not grant
exceptions or waivers for late delivery of documents including, but not
limited to, late delivery that is caused by third parties such as the
United States Postal Service, couriers or overnight delivery services.
G. Intergovernmental Review
Not applicable.
H. Funding Restrictions
For allowable uses of FA proceeds, please see the Interim Rule at
12 CFR 1805.301.
V. Application Review Information
A. Criteria
The Fund will evaluate each application using numeric scores with
respect to the following five sections:
1. Market Analysis (25 points): The Fund will evaluate: (i) The
extent and nature of the economic distress within the designated Target
Market including the Applicant's understanding of its current and
prospective customers; and (ii) the extent of demand for the
Applicant's Financial Products, Development Services, and Financial
Services within the designated Target Market. The Fund will give
special consideration to any Applicant that has an office that is
located in, or that provides a significant volume of services or
financing to residents of or businesses located in, (i) any county that
is within the area declared to be a ``major disaster'' by FEMA as a
result of Hurricanes Katrina and/or Rita; and/or (ii) any state that
has been declared a ``reception state'' by FEMA. The form and content
of such special consideration will be further clarified in the NACA
Program application.
2. Business Strategy (25 points): The Fund will evaluate the
Applicant's business strategy for addressing market demand and creating
community development impact through: (i) Its Financial Products,
Development Services, and/or Financial Services; (ii) its marketing,
outreach, and delivery strategy; and (iii) the extent, quality and
nature of coordination with other similar providers of Financial
Products and Financial Services, government agencies, and other key
community development entities within the Target Market. The Fund will
take into consideration whether the Applicant is proposing to expand
into a new Target Market.
3. Community Development Performance and Effective Use (20 points):
The Fund will evaluate (i) the Applicant's vision for its Target
Market, specific outcomes or impacts for measuring progress towards
achieving this vision, and the extent to which this award will allow it
to achieve them; (ii) the Applicant's track record in providing
Financial Products, Financial Services, and Development Services to the
Target Market; (iii) the extent to which proposed activities will
benefit the Target Market; (iv) the likelihood of achieving the impact
projections, including the extent to which the activities proposed in
the Comprehensive Business Plan will expand economic opportunities or
promote community development within the designated Target Market by
promoting homeownership, affordable housing development, job creation
or retention, the provision of affordable financial services, and other
community development objectives; and (v) the extent to which the
Applicant will maximize the effective use of the Fund's resources. If
an Applicant has a prior track record of serving Investment Areas(s) or
Targeted Population(s), it must demonstrate that (i) it has a record of
success in serving said Investment Area(s) or Targeted Population(s)
and (ii) it will expand its operations into a new Investment Area or to
serve a new Targeted Population, offer more products or services, or
increase the volume of its current business.
4. Management (20 points): The Fund will evaluate the Applicant's
organizational capacity to achieve the objectives set forth in its
Comprehensive Business Plan as well as its ability to use its award
successfully and maintain compliance with its Assistance Agreement
through an evaluation of: (i) The capacity, skills, size and experience
of the Applicant's current and proposed Governing Board, management
team, and key staff; and (ii) the Applicant's management controls and
risk mitigation strategies including policies and procedures for
portfolio underwriting and review, financial management, risk
management, management information systems.
5. Financial Health and Viability (10 points): The Fund will
evaluate the Applicant's: (i) Audited or otherwise prepared Financial
Statements; (ii) safety and soundness, including an analysis of the
Applicant's financial services industry ratios (capital, liquidity,
deployment and self-sufficiency) and ability to sustain positive net
revenue; (iii) projected financial health, including its ability to
raise operating support from sources other than the Fund and its
capitalization strategy; and (iv) portfolio performance including loan
delinquency, loan losses, and loan loss reserves. If an Applicant does
not have 100 percent of the required matching funds in-hand (versus
committed), the Applicant must demonstrate to the satisfaction of the
Fund that it will raise the outstanding balance of matching funds
within the time table set forth above.
6. Technical Assistance Proposal: Any Applicant applying for a TA
grant, either alone or in conjunction with a request for a FA award,
must complete a Technical Assistance Proposal (TAP) as part of its
application. The TAP consists of a summary of the organizational
improvements needed to achieve the objectives of the application, a
budget, and a description of the requested goods and/or services
comprising the TA award request. The budget and accompanying narrative
will be evaluated for the eligibility and appropriateness of the
proposed uses of the TA award (described above). In addition, if the
Applicant identifies a capacity-building need related to any of the
evaluation criteria above (for example, if the Applicant requires a
market need analysis or a community development impact tracking/
reporting system), the Fund will assess its plan to use the TA grant to
address said needs. An Applicant that is not a Certified CDFI and that
requests TA to address certification requirements, must explain how the
requested TA grant will assist the Applicant in meeting the
certification requirement. An Applicant that requests a TA grant for
recurring activities must clearly describe the benefit that would
accrue to its capacity or to its Target Market(s) (such as plans for
expansion of staff, market, or products) as a result of the TA award.
If the Applicant is a prior Fund Awardee, it must describe how it has
used the prior assistance and explain the need for additional Fund
dollars over and above such prior assistance. Such an Applicant also
must describe the additional benefits that would accrue to its capacity
or to the Target Market(s) if the Applicant receives another award from
the Fund, such as plans for expansion of staff, market, or products.
The Fund will not provide funding for the same activities funded in
prior awards.
B. Review and Selection Process
1. Eligibility and Completeness Review: The Fund will review each
application to determine whether it is complete and the Applicant meets
the eligibility requirements set forth above. An incomplete application
will be rejected as incomplete and returned to
[[Page 58667]]
the sender. If an Applicant does not meet eligibility requirements, its
application will be rejected and returned to the sender.
2. Substantive Review: If an application is determined to be
complete and the Applicant is determined to be eligible, the Fund will
conduct the substantive review of the application in accordance with
the criteria and procedures described in the Interim Rule, this NOFA
and the application and guidance. Each FA application will be reviewed
and scored by multiple readers. Each TA application will be read and
scored by one reader. Readers may include Fund staff and other experts
in community development finance and/or Native community development.
As part of the review process, the Fund may contact the Applicant by
telephone or through an on-site visit for the purpose of obtaining
clarifying or confirming application information. The Applicant may be
required to submit additional information to assist the Fund in its
evaluation process. Such requests must be responded to within the time
parameters set by the Fund.
3. Application Scoring; Ranking:
(a) Application Scoring: The Fund will evaluate each application on
a 100-point scale, comprising the five criteria categories described
above, and assign numeric scores. An Applicant must receive a minimum
total score in order to be considered for an award. In the case of an
Applicant that has previously received funding from the Fund through
any Fund program, the Fund will consider and will deduct points for:
(i) The Applicant's noncompliance with any active award or award that
terminated in calendar year 2006, in meeting its performance goals,
financial soundness covenants (if applicable), reporting deadlines and
other requirements set forth in the assistance or award agreement(s)
with the Fund during the Applicant's two complete fiscal years prior to
the application deadline of this NOFA (generally FY 2005 and FY 2006);
(ii) the Applicant's failure to make timely loan payments to the Fund
during the Applicant's two complete fiscal years prior to the
application deadline of this NOFA (if applicable); (iii) performance on
any prior Assistance Agreement as part of the overall assessment of the
Applicant's ability to carry out its Comprehensive Business Plan; and
(iv) funds deobligated from a FY 2003, FY 2004 or FY 2005 FA award (if
the Applicant is applying for a FA award under this NOFA) if (A) the
amount of deobligated funds is at least $200,000 and (b) the
deobligation occurred subsequent to the expiration of the period of
award funds availability (generally, any funds deobligated after the
September 30th following the year in which the award was made). Any
award deobligations that result in a point deduction under an
application submitted pursuant to either funding round of this NOFA
will not be counted against any future application for FA through the
NACA Program. All questions regarding outstanding reports or compliance
should be directed to the Grants Manager by e-mail at
grantsmanagement@cdfi.treas.gov; by telephone at (202) 622-8226; by
facsimile at (202) 622-7754; or by mail to CDFI Fund, 601 13th Street,
NW., Suite 200 South, Washington, DC 20005. These are not toll free
numbers. The Fund will respond to reporting or compliance questions
between the hours of 9 a.m. and 5 p.m. ET, starting the date of the
publication of this NOFA through January 26, 2007. The Fund will not
respond to reporting or compliance phone calls or e-mail inquiries that
are received after 5 p.m. on January 26, 2007 until after the
application deadline.
(b) Ranking: The Fund then will rank the applications by their
scores, from highest to lowest, based on each Applicant's scores for
all five criteria categories added together.
4. Award Selection: The Fund will make its final award selections
based on the rank order of Applicants by their scores and the amount of
funds available. Subject to the availability of funding, the Fund will
award funding in the order of the ranking. In addition, the Fund may
consider the institutional and geographic diversity of Applicants when
making its funding decisions.
5. Insured CDFIs: In the case of Insured Depository Institutions
and Insured Credit Unions, the Fund will take into consideration the
views of the Appropriate Federal Banking Agencies; in the case of
State-Insured Credit Unions, the Fund may consult with the appropriate
State banking agencies (or comparable entity). The Fund will not
approve a FA award or a TA grant to any Insured Credit Union (other
than a State-Insured Credit Union) or Insured Depository Institution
Applicant that has a CAMEL rating that is higher than a ``3'' or for
which its Appropriate Federal Banking Agency indicates it has safety
and soundness concerns, unless the Appropriate Federal Banking Agency
asserts, in writing, that: (i) An upgrade to a CAMEL 3 rating or better
(or other improvement in status) is imminent and such upgrade is
expected to occur not later than September 30, 2007 (for the FY 2007
Funding Round) or within such other time frame deemed acceptable by the
Fund, or (ii) the safety and soundness condition of the Applicant is
adequate to undertake the activities for which the Applicant has
requested a FA award and the obligations of an Assistance Agreement
related to such a FA award.
6. Award Notification: Each Applicant will be informed of the
Fund's award decision either through a Notice of Award if selected for
an award (see Notice of Award section, below) or written declination if
not selected for an award. Each Applicant that is not selected for an
award based on reasons other than completeness or eligibility issues
may be offered a debriefing on the strengths and weaknesses of its
application. This feedback will be provided in a format and within a
timeframe to be determined by the Fund, based on available resources.
The Fund will notify Awardees by e-mail or fax using the addresses
maintained in the Awardee's myCDFIFund account (postal mailings will be
used only in rare cases).
7. The Fund reserves the right to reject an application if
information (including administrative errors) comes to the attention of
the Fund that either adversely affects an applicant's eligibility for
an award, or adversely affects the Fund's evaluation or scoring of an
application, or indicates fraud or mismanagement on the part of an
Applicant. If the Fund determines that any portion of the application
is incorrect in any material respect, the Fund reserves the right, in
its sole discretion, to reject the application. The Fund reserves the
right to change its eligibility and evaluation criteria and procedures,
if the Fund deems it appropriate; if said changes materially affect the
Fund's award decisions, the Fund will provide information regarding the
changes through the Fund's Web site. There is no right to appeal the
Fund's award decisions. The Fund's award decisions are final.
VI. Award Administration Information
A. Notice of Award
The Fund will signify its conditional selection of an Applicant as
an Awardee by delivering a signed Notice of Award to the Applicant. The
Notice of Award will contain the general terms and conditions
underlying the Fund's provision of assistance including, but not
limited to, the requirement that the Awardee and the Fund enter into an
Assistance Agreement. The Applicant must execute the Notice of Award
and return it to the Fund. By executing a Notice of Award, the Awardee
agrees,
[[Page 58668]]
among other things, that, if prior to entering into an Assistance
Agreement with the Fund, information (including administrative error)
comes to the attention of the Fund that either adversely affects the
Awardee's eligibility for an award, or adversely affects the Fund's
evaluation of the Awardee's application, or indicates fraud or
mismanagement on the part of the Awardee, the Fund may, in its
discretion and without advance notice to the Awardee, terminate the
Notice of Award or take such other actions as it deems appropriate.
Moreover, by executing a Notice of Award, the Awardee agrees that, if
prior to entering into an Assistance Agreement with the Fund, the Fund
determines that the Awardee is in default of any Assistance Agreement
previously entered into with the Fund, the Fund may, in its discretion
and without advance notice to the Awardee, either terminate the Notice
of Award or take such other actions as it deems appropriate. The Fund
reserves the right, in its sole discretion, to rescind its award if the
Awardee fails to return the Notice of Award, signed by the authorized
representative of the Awardee, along with any other requested
documentation, within the deadline set by the Fund.
1. Failure to meet reporting requirements: If an Awardee, or an
entity that Controls the Awardee, is Controlled by the Awardee or
shares common management officials with the Awardee (as determined by
the Fund) is a prior Fund Awardee or allocatee under any Fund program
and is not current on the reporting requirements set forth in the
previously executed assistance, allocation or award agreement(s), as of
the date of the Notice of Award, the Fund reserves the right, in its
sole discretion, to delay entering into an Assistance Agreement until
said prior Awardee or allocatee is current on the reporting
requirements in the previously executed assistance, allocation or award
agreement(s). Please note that the Fund only acknowledges the receipt
of reports that are complete. As such, incomplete reports or reports
that are deficient of required elements will not be recognized as
having been received. If said prior Awardee or allocatee is unable to
meet this requirement within the timeframe set by the Fund, the Fund
reserves the right, in its sole discretion, to terminate and rescind
the Notice of Award and the award made under this NOFA.
2. Pending resolution of noncompliance: If an Applicant is a prior
Awardee or allocatee under any Fund program and if: (i) It has
submitted complete and timely reports to the Fund that demonstrate
noncompliance with a previous assistance, award or allocation
agreement; and (ii) the Fund has yet to make a final determination as
to whether the entity is in default of its previous assistance, award
or allocation agreement, the Fund reserves the right, in its sole
discretion, to delay entering into an Assistance Agreement, pending
full resolution, in the sole determination of the Fund, of the
noncompliance. Further, if another entity that Controls the Applicant,
is Controlled by the Applicant or shares common management officials
with the Applicant (as determined by the Fund), is a prior Fund Awardee
or allocatee and if such entity: (i) Has submitted complete and timely
reports to the Fund that demonstrate noncompliance with a previous
assistance, award or allocation agreement; and (ii) the Fund has yet to
make a final determination as to whether the entity is in default of
its previous assistance, award or allocation agreement, the Fund
reserves the right, in its sole discretion, to delay entering into an
Assistance Agreement, pending full resolution, in the sole
determination of the Fund, of the noncompliance. If the prior Awardee
or allocatee in question is unable to satisfactorily resolve the issues
of noncompliance, in the sole determination of the Fund, the Fund
reserves the right, in its sole discretion, to terminate and rescind
the Notice of Award and the award made under this NOFA.
3. Default status: If, at any time prior to entering into an
Assistance Agreement through this NOFA, the Fund has made a final
determination that an Awardee that is a prior Fund Awardee or allocatee
under any Fund program is in default of a previously executed
assistance, allocation or award agreement(s), the Fund reserves the
right, in its sole discretion, to delay entering into an Assistance
Agreement, until said prior Awardee or allocatee has submitted a
complete and timely report demonstrating full compliance with said
agreement within a timeframe set by the Fund. Further, if at any time
prior to entering into an Assistance Agreement through this NOFA, the
Fund has made a final determination that another entity that Controls
the Awardee, is Controlled by the applicant or shares common management
officials with the Awardee (as determined by the Fund), is a prior Fund
Awardee or allocatee under any Fund program, and is in default of a
previously executed assistance, allocation or award agreement(s), the
Fund reserves the right, in its sole discretion, to delay entering into
an Assistance Agreement, until said prior Awardee or allocatee has
submitted a complete and timely report demonstrating full compliance
with said agreement within a timeframe set by the Fund. If said prior
Awardee or allocatee is unable to meet this requirement, the Fund
reserves the right, in its sole discretion, to terminate and rescind
the Notice of Award and the award made under this NOFA.
4. Termination in default: If (i) the Fund has made a final
determination that an Awardee that is a prior Fund Awardee or allocatee
under any Fund program whose award or allocation was terminated in
default of such prior agreement; and (ii) the final reporting period
end date for the applicable terminated agreement falls in Calendar Year
2006, the Fund reserves the right, in its sole discretion, to delay
entering into an Assistance Agreement. Further, if (i) the Fund has
made a final determination that another entity that Controls the
Awardee, is Controlled by the Awardee or shares common management
officials with the Awardee (as determined by the Fund), is a prior Fund
Awardee or allocatee under any Fund program whose award or allocation
was terminated in default of such prior agreement; and (ii) the final
reporting period end date for the applicable terminated agreement falls
in such entity's 2005 or 2006 fiscal year, the Fund reserves the right,
in its sole discretion, to delay entering into an Assistance Agreement.
5. Deobligated awards: An Awardee that receives a FA award pursuant
to this NOFA for which an amount over $200,000 is deobligated by the
Fund subsequent to the expiration of the period of award funds
availability (generally, any funds deobligated after the September 30th
following the year in which the award was made) but within the 12
months prior to the applicable application deadline, may not apply for
a new award through another NOFA for one CDFI or NACA Program funding
round after the date of said deobligation.
B. Assistance Agreement
Each Applicant that is selected to receive an award under this NOFA
must enter into an Assistance Agreement with the Fund in order to
receive disbursement of award proceeds. The Assistance Agreement will
set forth certain required terms and conditions of the award, which
will include, but not be limited to: (i) The amount of the award; (ii)
the type of award; (iii) the approved uses of the award; (iv) the
approved Target Market to which the
[[Page 58669]]
funded activity must be targeted; (v) performance goals and measures;
and (vi) reporting requirements for all Awardees. FA and FA/TA
Assistance Agreements under this NOFA generally will have three-year
performance periods; TA-only Assistance Agreements generally will have
two-year performance periods.
The Fund reserves the right, in its sole discretion, to terminate
the Notice of Award and rescind an award if the Awardee fails to return
the Assistance Agreement, signed by the authorized representative of
the Awardee, and/or provide the Fund with any other requested
documentation, within the deadlines set by the Fund.
In addition to entering into an Assistance Agreement, each Awardee
that receives an award either (i) in the form of a loan, equity
investment, credit union shares/deposits, or secondary capital, in any
amount, or (ii) a FA grant in an amount greater than $500,000, must
furnish to the Fund an opinion from its legal counsel, the content of
which will be specified in the Assistance Agreement, to include, among
other matters, an opinion that the Awardee: (A) is duly formed and in
good standing in the jurisdiction in which it was formed and/or
operates; (B) has the authority to enter into the Assistance Agreement
and undertake the activities that are specified therein; and (C) has no
pending or threatened litigation that would materially affect its
ability to enter into and carry out the activities specified in the
Assistance Agreement. Each other Awardee must provide the Fund with a
good standing certificate (or equivalent documentation) from its state
(or jurisdiction) of incorporation.
C. Reporting
1. Reporting requirements: The Fund will collect information, on at
least an annual basis, from each Awardee including, but not limited to,
an Annual Report that comprises the following components: (i) Financial
Report (not required of Sponsoring Entities); (ii) Institution Level
Report; (iii) Transaction Level Report (for Awardees receiving FA);
(iv) Financial Status Report (for Awardees receiving TA); (v) Uses of
Financial Assistance and Matching Funds Report (for Awardees receiving
FA awards); (vi) Explanation of Noncompliance (as applicable); and
(vii) such other information as the Fund may require. Each Awardee is
responsible for the timely and complete submission of the Annual
Report, even if all or a portion of the documents actually is completed
by another entity or signatory to the Assistance Agreement. If such
other entities or signatories are required to provide Institution Level
Reports, Transaction Level Reports, Financial Reports, or other
documentation that the Fund may require, the Awardee is responsible for
ensuring that the information is submitted timely and complete. The
Fund reserves the right to contact such additional signatories to the
Assistance Agreement and require that additional information and
documentation be provided. The Fund will use such information to
monitor each Awardee's compliance with the requirements set forth in
the Assistance Agreement and to assess the impact of the NACA Program.
The Institution Level Report and the Transaction Level Report must be
submitted through the Fund's Web-based data collection system, the
Community Investment Impact System (CIIS). The Financial Report may be
submitted through CIIS, or by fax or mail to the Fund. All other
components of the Annual Report may be submitted to the Fund in paper
form or other form to be determined by the Fund. The Fund reserves the
right, in its sole discretion, to modify these reporting requirements
if it determines it to be appropriate and necessary; however, such
reporting requirements will be modified only after notice to Awardees.
2. Accounting: The Fund will require each Awardee that receives FA
and TA awards through this NOFA to account for and track the use of
said FA and TA awards. This means that for every dollar of FA and TA
awards received from the Fund, the Awardee will be required to inform
the Fund of its uses. This will require Awardees to establish separate
administrative and accounting controls, subject to the applicable OMB
Circulars. The Fund will provide guidance to Awardees outlining the
format and content of the information to be provided on an annual
basis, outlining and describing how the funds were used. Each Awardee
that receives a FA award must establish a separate bank account for the
FA funds and provide the Fund with the required complete and accurate
Automated Clearinghouse (ACH) form for that separate bank account prior
to award closing and disbursement.
VII. Agency Contacts
The Fund will respond to questions and provide support concerning
this NOFA and the funding application between the hours of 9 a.m. and 5
p.m. ET, starting the date of the publication of this NOFA through
January 26, 2007. The Fund will not respond to questions or provide
support concerning the application that are received after 5 p.m. ET on
said date, until after the funding application deadline. Applications
and other information regarding the Fund and its programs may be
obtained from the Fund's Web site at http://www.cdfifund.gov. The Fund
will post on its Web site responses to questions of general
applicability regarding the CDFI Program.
A. Information Technology Support
Technical support can be obtained by calling (202) 622-2455 or by
e-mail at ithelpdesk@cdfi.treas.gov. People who have visual or mobility
impairments that prevent them from creating an Investment Area map
using the Fund's Web site should call (202) 622-2455 for assistance.
These are not toll free numbers.
B. Programmatic Support
If you have any questions about the programmatic requirements of
this NOFA, contact the Fund's Program office by e-mail at
cdfihelp@cdfi.treas.gov, by telephone at (202) 622-6355, by facsimile
at (202) 622-7754, or by mail at CDFI Fund, 601 13th Street, NW., Suite
200 South, Washington, DC 20005. These are not toll-free numbers.
C. Grants Management Support
If you have any questions regarding the administrative requirements
of this NOFA, including questions regarding submission requirements,
contact the Fund's Grants Manager by e-mail at
grantsmanagement@cdfi.treas.gov, by telephone at (202) 622-8226, by
facsimile at (202) 622-6453, or by mail at CDFI Fund, 601 13th Street,
NW., Suite 200 South, Washington, DC 20005. These are not toll free
numbers.
D. Compliance and Monitoring Support
If you have any questions regarding the compliance requirements of
this NOFA, including questions regarding performance on prior awards,
contact the Fund's Compliance Manager by e-mail at cme@cdfi.treas.gov,
by telephone at (202) 622-8226, by facsimile at (202) 622-6453, or by
mail at CDFI Fund, 601 13th Street, NW., Suite 200 South, Washington,
DC 20005. These are not toll free numbers.
E. Legal Counsel Support
If you have any questions or matters that you believe require
response by the Fund's Office of Legal Counsel, please refer to the
document titled ``How to Request a Legal Review,'' found on the Fund's
Web site at http://www.cdfifund.gov. Further, if you wish to review the
Assistance Agreement form document from a prior funding
[[Page 58670]]
round, you may find it posted on the Fund's Web site (please note that
there may be revisions to the Assistance Agreement that will be used
for Awardees under this NOFA and thus the sample document on the Fund's
Web site should not be relied upon for purposes of this NOFA).
F. Communication with the CDFI Fund
The Fund will use its myCDFIFund Internet interface to communicate
with Applicants and Awardees under this NOFA. Applicants must register
through myCDFIFund in order to submit a complete application for
funding. Awardees must use myCDFIFund to submit required reports. The
Fund will notify Awardees by e-mail using the addresses maintained in
each Awardee's myCDFIFund account. Therefore, the Awardee and any
Subsidiaries, signatories, and Affiliates must maintain accurate
contact information (including contact person and authorized
representative, e-mail addresses, fax numbers, phone numbers, and
office addresses) in their myCDFIFund account(s). For more information
about myCDFIFund, please see the Help documents posted at http://www.cdfifund.gov/myCDFI/Help/Help.asp
.
VIII. Information Sessions and Outreach
The Fund may conduct Information Sessions to disseminate
information to organizations contemplating applying to, and other
organizations interested in learning about, the Fund's programs. For
further information on the Fund's Information Sessions, dates and
locations, or to register to attend an Information Session, please
visit the Fund's Web site at http://www.cdfifund.gov or call the Fund
at (202) 622-9046.
Authority: 12 U.S.C. 4703, 4703 note, 4704, 4706, 4707, 4717; 12
CFR part 1805.
Dated: September 27, 2006.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
[FR Doc. E6-16388 Filed 10-3-06; 8:45 am]
BILLING CODE 4810-70-P