[Federal Register: September 28, 2009 (Volume 74, Number 186)]
[Notices]
[Page 49440-49450]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr28se09-129]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Funding Opportunity Title: Notice of Funds Availability (NOFA)
Inviting Applications for the FY 2010 Funding Round of the Community
Development Financial Institutions (CDFI) Program
Announcement Type: Announcement of funding opportunity.
Catalog Of Federal Domestic Assistance (CFDA) Number: 21.020.
DATES: Applications for Financial Assistance (FA) and/or Technical
Assistance (TA) awards through the FY 2010 Funding Round of the CDFI
Program must be received by 5 p.m. Eastern Time (ET), November 18,
2009.
Executive Summary: Subject to funding availability, this NOFA is issued
in connection with the FY 2010 Funding Round of the CDFI Program (the
FY 2010 Funding Round). The CDFI Program is administered by the
Community Development Financial Institutions Fund (the Fund).
I. Funding Opportunity Description
A. Through the CDFI Program, the Fund provides: (i) FA awards to
CDFIs that have Comprehensive Business Plans for creating demonstrable
community development impact through the deployment of credit, capital,
and financial services within their respective Target Markets or the
expansion into new Investment Areas, Low-Income Targeted Populations,
or Other Targeted Populations, and (ii) TA grants to CDFIs and entities
proposing to become CDFIs in order to build their capacity to meet the
community development and capital access needs of their existing or
proposed Target Markets and/or to become certified CDFIs.
B. The regulations governing the CDFI Program are found at 12 CFR
Part 1805 (the Regulations) and provide guidance on evaluation criteria
and other requirements of the CDFI Program. The Fund encourages
Applicants to review the Regulations. 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 Regulations, 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
[[Page 49441]]
Fund programs, particularly if the Fund determines that the number of
awards made under this NOFA is fewer than projected. In addition, the
Fund invites applications that propose innovative Financial Products
and Financial Services to address the current difficult economic
conditions of our nation.
II. Award Information
A. Funding Availability
1. FY 2010 Funding Round: Through this NOFA, and subject to funding
availability, the Fund expects that it may award approximately $113
million in appropriated funds, of which: (i) Approximately $20 million
in appropriated funds may be awarded to Category I/SECA Applicants (as
defined below in Table 1--FA Applicant Criteria) in the form of FA
awards and TA grants; (ii) approximately $90 million in appropriated
funds may be awarded to Category II/Core Applicants (as defined below
in Table 1--FA Applicant Criteria) in the form of FA awards and TA
grants; and (iii) approximately $3 million in appropriated funds may be
awarded to Applicants in the form of TA grants only. The Fund reserves
the right to award in excess of $113 million in appropriated funds to
Applicants (and/or more or less than $20 million to Category I/SECA
Applicants, and/or more or less than $90 million to Category II/Core
Applicants, and/or more or less than $3 million to TA-only Applicants)
in the FY 2010 Funding Round, provided that the funds are available and
the Fund deems it appropriate.
2. Availability of Funds for the FY 2010 Funding Round: Funds for
the FY 2010 Funding Round have not yet been appropriated. If funds are
not appropriated for the FY 2010 Funding Round, there will not be a FY
2010 Funding Round. Further, it is possible that if funds are
appropriated for the FY 2010 Funding Round, the amount of such funds
may be greater than or less than the amounts set forth above. Further,
if funds for the FY 2010 Funding Round of the Native American CDFI
Assistance (NACA) Program are not appropriated, entities that are
eligible to apply for CDFI Program funds and that might otherwise have
applied for NACA Program funds are encouraged to apply for CDFI Program
funds through the FY 2010 Funding Round.
B. Types of Awards: An Applicant may submit an application either
for: (i) A FA-only award; (ii) a FA award and a TA grant; or (iii) a
TA-only grant.
1. FA Awards: FA is intended to provide flexible financial support
to CDFIs so that they may achieve the strategies outlined in their
Comprehensive Business Plans. FA awards can be used in the following
five categories: (i) Financial Products; (ii) Financial Services; (iii)
Development Services; (iv) Loan Loss Reserves, Capital Reserves, or
other activities/uses that support the activities in the Applicant's
Comprehensive Business Plan; and/or (v) Operations. For purposes of
this NOFA, Financial Products means loans, grants, equity investments,
and similar financing activities, including the purchase of loans
originated by certified CDFIs and the provision of loan guarantees, in
the Applicant's Target Market, or for related purposes that the Fund
deems appropriate (including administrative funds used to carry out
Financial Products). Financial Services means checking and savings
accounts, certified checks, automated teller machines services, deposit
taking, remittances, safe deposit box services, and other similar
services (including administrative funds used to carry out Financial
Services). Development Services means activities that promote community
development and are integral to the Applicant's provisions of Financial
Products and Financial Services (including administrative funds used to
carry out Development Services) including, for example, financial or
credit counseling, housing and homeownership counseling (pre- and post-
), self-employment technical assistance, entrepreneurship training, and
financial management skill-building. Loan Loss Reserves means funds
that the Applicant will set aside in the form of cash reserves, or
through accounting-based accrual reserves, to cover losses on loans,
accounts, and notes receivable made in its Target Market, or for
related purposes that the Fund deems appropriate (including
administrative funds used to carry out Loan Loss Reserves). Capital
Reserves means funds that the Applicant will set aside in the form of
reserves to support the Applicant's ability to leverage other capital,
for such purposes as increasing its net assets or serving the financing
needs of its Target Market, or for related purposes that the Fund deems
appropriate (including administrative funds used to carry out Capital
Reserves). Operations means funds that the Applicant will use to carry
out its Comprehensive Business Plan, and/or for related purposes that
the Fund deems appropriate, that are not used to carry out or
administer any of the foregoing eligible FA uses. FA awards are most
commonly used for an Applicant's Financial Products since FA funds can
be used to support the Applicant's community development lending
activities.
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 a FA award in a form and 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. The Fund
reserves the right, in its sole discretion, to provide a FA award to an
Applicant 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. FA awards must be used to support the Applicant's
activities; FA awards cannot be used to support the activities of, or
otherwise be ``passed through'' to, third-party entities, whether
Affiliates, Subsidiaries, or others, without the prior written
permission of the Fund.
2. TA Grants
(a) The Fund provides 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 that which the Applicant requests; however,
the award amount will not exceed the Applicant's award request as
stated in its application and the applicable budget chart.
(b) TA grants may be used to address a variety of needs including,
but not limited to, development of strategic planning documents (such
as strategic or capitalization plans), market analyses or product
feasibility analyses, operational policies and procedures, curricula
for Development Services (such as entrepreneurial training, home buyer
education, financial education or training, or 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 eligible market, and
tools that allow the Applicant to assess the impact of its activities
in its community.
(c) Eligible TA grant uses include, but are not limited to: (i)
Procuring professional services; (ii) acquiring/enhancing technology
items, including computer hardware, software, and Internet connectivity
and related
[[Page 49442]]
information management systems; (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 CDFI. TA awards must be used to support the
Applicant's activities; TA awards cannot be used to support the
activities of, or otherwise be ``passed through'' to, third-party
entities, whether Affiliates, Subsidiaries, or others, without the
prior written permission of the Fund.
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 Regulations specify 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. FA Applicant Categories: All Applicants for FA awards through
this NOFA must meet the criteria for one of the following two
categories:
Table 1--FA Applicant Criteria
----------------------------------------------------------------------------------------------------------------
FA Applicant category Applicant criteria Applicant may apply for Application deadline
----------------------------------------------------------------------------------------------------------------
Category I/Small and/or Emerging CDFI (1) Is a Certified/ Up to and including 5:00 p.m. ET,
Assistance (SECA). Certifiable CDFI; $500,000 in FA funds, Wednesday, November
and up to and 18, 2009.
including $100,000 in
TA funds.
(2) Has total assets,
as of the end of the
Applicant's most
recent fiscal year end
or September 30, 2009,
as follows:
Insured
Depository
Institutions and
Depository
Institution Holding
Companies: up to
$250 million.
Insured
Credit Unions: Up
to $10 million.
Venture
capital funds: up
to $10 million.
Other
CDFIs: up to $5
million, or.
(3) Began operations on
or after January 1,
2006; and (4) Prior to
the application
deadline, has not been
selected to receive in
excess of $500,000 in
FA award(s) in the
aggregate from the
CDFI Program or Native
Initiatives Funding
Programs.
Category II/Core..................... A Certified/Certifiable Up to and including $2 5:00 p.m. ET,
CDFI that meets all million in FA funds, Wednesday, November
other eligibility and up to $100,000 in 18, 2009.
requirements described TA funds.
in this NOFA.
----------------------------------------------------------------------------------------------------------------
Please note: (1) The Fund reserves the right, in its sole
discretion, to award amounts in excess of or less than the
anticipated maximum award amounts permitted in this NOFA, if the
Fund deems it appropriate. (2) Any Applicant that requests FA
funding in excess of $500,000 is classified as a Category II/Core
Applicant, regardless of its total assets, years in operation, or
prior Fund awards. (3) The term ``began operations'' is defined as
the financing activity start date indicated in the Applicant's
myCDFIFund account.
2. TA Applicants: All Applicants for TA grants through this NOFA
must meet the following criteria:
Table 2--TA Applicant Criteria
----------------------------------------------------------------------------------------------------------------
Applicant type Criteria of applicant Applicant can apply for Application due date
----------------------------------------------------------------------------------------------------------------
TA-Only.............................. A Certified CDFI, a Up to $100,000 for 5:00 p.m. ET,
Certifiable CDFI, or capacity-building Wednesday, November
an Emerging CDFI. activities. 18, 2009.
FA/TA (Core/SECA).................... A Certified CDFI, a Up to $100,000 for 5:00 p.m. ET,
Certifiable CDFI. capacity-building Wednesday, November
activities. 18, 2009.
----------------------------------------------------------------------------------------------------------------
The Fund, in its sole discretion, reserves the right to award
amounts less than the anticipated maximum award amounts permitted in
this NOFA, if the Fund deems it appropriate.
3. CDFI Certification Requirements: For purposes of this NOFA,
eligible FA Applicants include Certified CDFIs and Certifiable CDFIs;
eligible TA Applicants include Certified CDFIs, Certifiable CDFIs, and
Emerging CDFIs, defined as follows:
(a) Certified CDFIs: For purposes of this NOFA, a Certified CDFI is
an entity that has received official notification from the Fund that it
meets all CDFI
[[Page 49443]]
certification requirements as of the date of publication of this NOFA,
the certification of which has not expired and that has not been
notified by the Fund that its certification has been terminated. In
cases where the Fund provided certified CDFIs with written notification
that their certifications had been extended, the Fund will consider the
extended certification date (the later date) to determine whether those
certified CDFIs meet this eligibility requirement. When applicable,
each such Applicant must submit a Certification of Material Events form
to the Fund not later than October 14, 2009 (see Table 3--FY 2010 CDFI
Program Deadlines). The Certification of Material Events form can be
found on the Fund's Web site at http://www.CDFIfund.gov.
(b) Certifiable CDFIs: For purposes of this NOFA, a Certifiable
CDFI is an entity from which the Fund has received a complete CDFI
Certification Application no later than October 14, 2009 (see Table 3--
FY 2010 CDFI Program Deadlines), evidencing that the Applicant meets
the requirements to be certified as a CDFI. The CDFI Certification
Application can be found on the Fund's Web site at http://
www.CDFIfund.gov. If the Fund is unable to certify the organization as
a CDFI based on the CDFI certification Application submitted to the
Fund, it is in the sole discretion of the Fund to terminate the Notice
of Award and the award commitment. While a Certifiable CDFI may be
conditionally selected for a FA award (as evidenced through the Notice
of Award), the Fund will not enter into an Assistance Agreement or
disburse award funds unless and until the Fund has officially certified
the organization as a CDFI.
(c) Emerging CDFIs: For purposes of this NOFA, an Emerging CDFI is
an entity that demonstrates to the Fund's satisfaction that it has a
reasonable plan to be certified as a CDFI by December 31, 2012, or such
other date selected by the Fund. 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 become certified as a
CDFI by a certain date.
4. Limitation on Awards: An Applicant may receive only one award
through the FY 2010 Funding Round of the CDFI Program or the NACA
Program. No Awardee may also receive a FY 2010 Bank Enterprise Award
(BEA) Program award (subject to certain limitations; refer to the
Regulations at 12 CFR Sec. 1805.102). A CDFI Program Applicant, its
Subsidiaries, or Affiliates also may apply for and receive a tax credit
allocation through the New Markets Tax Credit (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 a NMTC
Program allocation.
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. For purposes of this section, the Fund will consider an
Affiliate to be any entity that meets the definition of Affiliate in
the Regulations or any entity otherwise identified as an Affiliate by
the Applicant in its funding application under this NOFA. Prior
awardees should note the following:
1. $5 Million Funding Cap: Congress waived the $5 million funding
cap for the FY 2009 Funding Round, and it is possible that the $5
million funding cap may be waived for the FY 2010 Funding Round as
well. As of the publication date of this NOFA, however, such a waiver
has not been enacted into law. Accordingly, the Fund is currently
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. In general, the three-year period extends
back three years from the date that the Fund signs a Notice of Award;
for purposes of this NOFA, and for ease of administration, the Fund
will consider any assistance documented with a Notice of Award dated
between July 31, 2007 and July 31, 2010 (which is the anticipated date
that the Fund will issue Notices of Award for the FY 2010 Funding
Round). However, in light of the possibility of a waiver of the $5
million funding cap, an Applicant who is otherwise eligible under this
NOFA, and is requesting an award amount that would cause the Applicant
to exceed the $5 million funding cap, should submit an Application
under this NOFA. The Fund will assess applicability of the $5 million
funding cap during the award selection phase based upon whether the
Congressional waiver has been enacted at that time.
2. Failure to Meet Reporting Requirements: The Fund will not
consider an application submitted by an Applicant if the Applicant, or
an Affiliate of the Applicant, is a prior 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
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 an Affiliate of the Applicant 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 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 an Affiliate of
the Applicant is a prior Awardee or allocatee under any Fund program
and has been determined by the Fund to be in default of a previously
executed assistance, allocation, or award agreement(s). Such entities
will be ineligible to apply for an award pursuant to this NOFA so long
as the Applicant's, or its Affiliate's, prior award or allocation
remains in default status or such other time period as specified by the
Fund in writing.
5. Termination in Default: The Fund will not consider an
application submitted by an Applicant that is a prior Awardee or
allocatee under any Fund program if (i) within the 12-month period
prior to the applicable application deadline of this NOFA, the
[[Page 49444]]
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 within the 12-month period
prior to the application deadline of this NOFA. Further, an entity is
not eligible to apply for an award pursuant to this NOFA if (i) within
the 12-month period prior to the applicable application deadline, the
Fund has made a final determination that an Affiliate of the Applicant
is a prior 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 within the 12-month period prior to the application
deadline of this NOFA.
6. Undisbursed Award Funds: The Fund will not consider an
application submitted by an Applicant that is a prior Awardee under any
Fund program if the Applicant has a balance of undisbursed award funds
(as 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 an Affiliate of the
Applicant is a prior Awardee under any Fund program, and has a balance
of undisbursed award 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 Awardee under any Fund program, and has a balance
of undisbursed award 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 award funds.
For purposes of the calculation of undisbursed award funds for the
BEA Program, only awards made to the Applicant (and any Affiliates)
three to five calendar years prior to the end of the calendar year of
the application deadline of this NOFA are included (``includable BEA
awards''). Thus, for purposes of this NOFA, undisbursed BEA Program
award funds are the amount of FYs 2004, 2005, and 2006 awards that
remain undisbursed as of the application deadline of this NOFA.
For purposes of the calculation of undisbursed award funds for the
CDFI Program and the Native Initiatives Funding Programs, only awards
made to the Applicant (and any Affiliates) two to five calendar years
prior to the end of the calendar year of this NOFA are included
(``includable CDFI/NI awards''). Thus, for purposes of this NOFA,
undisbursed CDFI Program and NI awards are the amount of FYs 2004,
2005, 2006, and 2007 awards that remain undisbursed as of the
application deadline of this NOFA. The term ``Native Initiatives
Funding Programs'' refers to the NACA Program and all prior funding
programs, through which funds are no longer available, including the
Native American CDFI Technical Assistance (NACTA) Component of the CDFI
Program, the Native American CDFI Development (NACD) Program, and the
Native American Technical Assistance (NATA) Component of the CDFI
Program.
To calculate total includable BEA/CDFI/NI awards: Amounts that are
undisbursed as of the application deadline of this NOFA cannot exceed
five percent of the total includable awards. Please refer to an example
of this calculation on the Fund's Web site, found in the Q&A document
for the FY 2010 Funding Round.
The ``undisbursed award funds'' calculation does not include: (i)
Tax credit allocation authority made available through the 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 in writing by the Fund 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 application deadline of this NOFA.
7. Contact the Fund: Applicants that are prior Fund 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
deobligation of any outstanding balance of said prior award(s). An
Applicant that is unsure about the disbursement status of any prior
award should contact the Fund's Senior Resource Manager via e-mail at
CDFI.disburseinquiries@cdfi.treas.gov.
8. Other Targeted Populations as Target Markets: Other Targeted
Populations are defined as identifiable groups of individuals in the
Applicant's service area for which there exists a strong basis of
evidence that they lack access to loans, Equity Investments, and/or
Financial Services. The Fund has determined that there is a strong
basis of evidence that the following groups of individuals lack access
to loans, Equity Investments, and/or Financial Services on a national
level: Blacks or African Americans, Native Americans or American
Indians, and Hispanics or Latinos. In addition, for purposes of this
NOFA, the Fund has determined that there is a strong basis of evidence
that Alaskan Natives residing in Alaska, Native Hawaiians residing in
Hawaii, and Other Pacific Islanders residing in other Pacific Islands
lack adequate access to loans, Equity Investments, or Financial
Services. An Applicant designating any of the above-cited Other
Targeted Populations is not required to provide additional narrative
explaining the Other Targeted Population's lack of adequate access to
loans, Equity Investments, or Financial Services. For purposes of this
NOFA, the Fund will use the following definitions, set forth in the
Office of Management and Budget (OMB) Notice, Revisions to the
Standards for the Classification of Federal Data on Race and Ethnicity
(October 30, 1997), as amended and supplemented:
(a) American Indian, Native American, or Alaskan Native: A person
having origins in any of the original peoples of North and South
America (including Central America) and who maintains tribal
affiliation or community attachment;
(b) Black or African American: A person having origins in any of
the black racial groups of Africa (terms such as Haitian or Negro can
be used in addition to Black or African American);
(c) Hispanic or Latino: A person of Cuban, Mexican, Puerto Rican,
South or Central American, or other Spanish culture or origin,
regardless of race (the term Spanish origin can be used in addition to
Hispanic or Latino); and
(d) Native Hawaiian: A person having origins in any of the original
peoples of Hawaii; and
(e) Other Pacific Islander: A person having origins in any of the
original peoples of Guam, Samoa or other Pacific Islands.
C. Matching Funds: Congress waived the matching funds requirements
for the FY 2009 Funding Round, and it is possible that the matching
funds requirements may be waived for the FY 2010 Funding Round as well.
As of the
[[Page 49445]]
publication date of this NOFA, however, such a waiver has not been
enacted into law. Accordingly, the Fund encourages Applicants to
include matching funds documentation as instructed in the application;
if the matching funds waiver is enacted, the Fund will not consider
matching funds documentation. An Applicant that does not include
matching funds documentation in its application runs the risk of being
determined to be ineligible for funding under the FY 2010 Funding Round
if said matching funds waiver is not enacted. In light of the
possibility of a waiver of the matching funds requirements, an
Applicant who would not satisfy the matching funds requirements but is
otherwise eligible under this NOFA should submit an application under
this NOFA. The Fund will assess applicability of the matching funds
requirements during the award selection phase based upon whether the
Congressional waiver has been enacted at that time.
Accordingly, subject to the immediately preceding paragraph:
1. 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 provided
by the Fund. For example, if an Applicant is requesting a FA award from
the Fund, the Applicant must show that it has obtained matching funds
through commitment(s) from non-Federal sources that are at least equal
to the amount requested from the Fund. Applicants cannot use matching
funds from a prior FA award under the NACA or CDFI Program or under
another Federal grant or award program 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 NACA or 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 NACA or CDFI Program funds or other Federal funds. For the
purposes of this NOFA, BEA Program awards may be used as matching
funds. The Fund encourages Applicants to review the Regulations at 12
CFR 1805.500 et seq. and matching funds guidance materials on the
Fund's Web site for further information.
2. Due to funding constraints and the desire to quickly deploy Fund
dollars, the Fund will not consider for a FA award any Applicant that
has no matching funds in-hand or firmly committed as of the application
deadline of this NOFA. Specifically, FA Applicants must meet the
following matching funds requirements:
(a) Category I/SECA Applicants: A Category I/SECA 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, 2008, and on or before the
application deadline. The Fund reserves the right to rescind all or a
portion of a 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, 2011 (with
required documentation of such receipt received by the Fund not later
than March 31, 2011), or to grant an extension of such matching funds
deadline for specific Applicants selected to receive FA awards, 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, 2011.
(b) Category II/Core Applicants: A Category II/Core Applicant must
demonstrate that it has eligible matching funds equal to no less than
100 percent of the amount of the FA award requested in-hand or firmly
committed, on or after January 1, 2008 and on or before the application
deadline. The Fund reserves the right to rescind all or a portion of a
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, 2011 (with required
documentation of such receipt received by the Fund not later than March
31, 2011), or to grant an extension of such matching funds deadline for
specific Applicants selected to receive FA, if the Fund deems it
appropriate.
3. Matching Funds Terms Defined; Required Documentation
(a) ``Matching funds in-hand'' means 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, deposit, 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 all grants of $50,000 or more. 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 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.
4. The Fund may contact the matching funds source to discuss the
matching funds and the documentation provided by the Applicant. 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 two business days of the Fund's request and (ii)
the alternative matching funds documentation cannot increase the total
amount of FA requested by the Applicant.
5. Special Rule for Insured Credit Unions: The Regulations allow an
Insured Credit Union to use retained earnings to serve as matching
funds for a FA grant in an amount equal to: (i) the increase in
retained earnings that has occurred over the Applicant's most recent
fiscal year; (ii) the annual average of such increases that has
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, as provided in the Regulations. 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
[[Page 49446]]
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. The 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 that it has increased shares or loans by at least 25
percent of the requested FA award amount between December 31, 2008, and
December 31, 2009, as demonstrated by the corresponding NCUA report.
IV. Application and Submission Information
A. MyCDFIFund Accounts: All Applicants must register User and
Organization accounts in myCDFIFund, the Fund's Internet-based
interface. An Applicant must be registered as both a User and an
Organization in myCDFIFund as of the applicable application deadline in
order to be considered to have submitted a complete application. 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 before the applicable
application deadline. For more information on myCDFIFund, please see
the ``Frequently Asked Questions'' link posted at https://
www.cdfifund.gov/myCDFI/Help/Help.asp.
B. Form of Application Submission: Applicants must submit
applications under this NOFA electronically. Applications sent by mail,
facsimile, or other form will not be permitted, except in circumstances
that the Fund, in its sole discretion, deems acceptable.
C. Applications Submitted via myCDFIFund: Applicants must submit
applications under this NOFA electronically, through myCDFIFund, the
Fund's internet-based interface. Please note that the Fund will not
accept applications through Grants.gov. Applications sent by mail,
facsimile, or other form will generally not be accepted, except in
circumstances approved by the Fund, in its sole discretion. The Fund
will post to its Web site at http://www.cdfifund.gov instructions for
accessing and submitting an application as soon as they become
available.
D. Application Content Requirements: Detailed application content
requirements, including the required elements of the Comprehensive
Business Plan, 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 electronic
application that does not include an EIN is incomplete and cannot be
transmitted to the Fund. 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 sentences do not limit the Fund's ability to
contact an Applicant for the purpose of obtaining clarifying or
confirming application information (such as a DUNS number or EIN
information).
E. Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an
agency may not conduct or sponsor a collection of information, and an
individual is not required to respond to a collection of information,
unless it displays a valid OMB control number. Pursuant to the
Paperwork Reduction Act, the application has been assigned the
following control number: 1559-0021.
F. Application Deadlines:
1. The following are the deadlines for submission of the CDFI
Program Funding Application, the CDFI Certification Application, and
the Certification of Material Events form:
Table 3--FY 2010 CDFI Program Deadlines
[All 5:00 p.m. ET deadlines]
------------------------------------------------------------------------
Application Last date to
Document deadline contact fund
------------------------------------------------------------------------
CDFI Program Funding Application Wednesday, Monday, November
(FA and/or TA) (both Core and November 18, 2009. 16, 2009.
SECA applicants).
CDFI Certification Application.. Wednesday, October Monday, October
14, 2009. 12, 2009.
Certification of Material Events Wednesday, October Monday, October
form. 14, 2009. 12, 2009.
------------------------------------------------------------------------
All CDFI Program funding applications must be electronic and
submitted through myCDFIFund. No paper submittals or attachments will
be accepted. Please see the CDFI Certification Application for
requirements specific to that application.
2. 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. The Fund will
not grant exceptions or waivers. Any application that is deemed
ineligible will not be returned to the Applicant.
G. Intergovernmental Review: Not applicable.
H. Funding Restrictions: For allowable uses of FA proceeds, please
see the Regulations at 12 CFR 1805.301.
V. Application Review Information
A. Format: Funding applications must be single-spaced and use a 12-
point font with 1-inch margins. Each section in the application that is
scored has page limitations. Applications are encouraged to read each
section carefully and to remain within the page limitations for each
section. The Fund will not consider responses beyond the specified page
limitation in each section. Also, the Fund will read only information
requested in the application and will not read attachments that have
not been specifically requested in this NOFA or the application, such
as the Applicant's five-year strategic or marketing plans.
B. Criteria: The Fund will evaluate each application on a 100-point
scale using numeric scores with respect to the five sections required
in the application. The Fund will score each section as indicated in
the following table:
Table 4--Application Scoring Criteria
------------------------------------------------------------------------
Application sections Scoring points
------------------------------------------------------------------------
Market Analysis................... TA-only--25.
FA (SECA and Core)--20.
Business Strategy................. TA-only--25.
[[Page 49447]]
FA (SECA and Core)--20.
Community Development Performance TA-only--20.
& Effective Use. FA (SECA and Core)--20.
Management........................ TA-only--20.
FA (SECA and Core)--20.
Financial Health & Viability...... TA-only--10.
FA (SECA and Core)--20.
------------------------------------------------------------------------
C. 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 Comprehensive
Business Plan, 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 grant (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.
1. Non-Certified Applicants: 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 requirements. The Fund will assess the reasonableness
of the plan to become certified (as specified above in Section III,
Eligibility Information; A.3. CDFI Certification Requirements), taking
into account the requested TA. For example, if the Applicant does not
currently make loans and therefore does not meet the Financing Entity
requirement, it might describe how the TA funds will be used to hire a
consultant to develop underwriting policies and procedures to support
the Applicant's ability to start its lending activity.
2. Recurring Activities: 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 grant.
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.
D. 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
does not meet eligibility requirements and will be rejected. Any
application that does not meet eligibility requirements will not be
returned to the Applicant.
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 Regulations, this NOFA,
and the application and guidance. As part of the review process, the
Fund may contact the Applicant by telephone, e-mail, mail, or through
an on-site visit for the sole purpose of obtaining clarifying or
confirming application information (such as statements of work,
matching funds documentation, EINs, DUNS numbers, for example). After
submitting its application, the Applicant will not be permitted to
revise or modify its application in any way nor attempt to negotiate
the terms of an award. If contacted for clarifying or confirming
information, the Applicant must respond 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
score in each evaluation criteria in order to be considered for an
award.
(b) Evaluating Prior Award Performance: In the case of an Applicant
that has previously received funding 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 the current calendar year in meeting its performance
goals and measures, 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; (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 2007, 2008 or 2009
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 within the 12 months prior to the application
deadline under this NOFA. 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 CDFI Program. Furthermore, in the case
of an Applicant that has previously received funding through any Fund
program, the Fund will consider and may, in its discretion, deduct
points for those Applicants that have in any proceeding instituted
against the Applicant in, by, or before any court, governmental, or
administrative body or agency received a final determination within the
last three years indicating that the Applicant has discriminated on the
basis of race, color, national origin, disability, age, marital status,
receipt of income from public assistance, religion, or sex.
(c) Ranking: The Fund then will rank the applications by their
scores, from highest to lowest.
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. In the case of a tied score(s), Applicants will be
ranked according to each Applicant's Community Development Performance
and Effective Use section. TA-only Applicants, Category I/SECA, and
Category II/Core Applicants will be ranked separately. In addition, the
Fund may consider the institutional and geographic diversity, including
geographic areas of distress, of Applicants when making its funding
decisions. Geographic areas of distress will be based on state and
multi-county distress indexes derived from the following measures and
data sources: HUD's 2008 annual state and county-level estimates of
housing foreclosure starts; 2008 state and county-level annual average
unemployment rate data from the Bureau of Labor Statistics, Local Area
Unemployment Statistics; and Census Bureau 2007 data from the American
Community Survey on median family income and poverty data.
[[Page 49448]]
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 for which its Appropriate Federal Banking Agency indicates it
has safety and soundness concerns, unless the Appropriate Federal
Banking Agency asserts, in writing, that improvement in status is
imminent and such improvement is expected to occur not later than
September 30, 2010, 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. In addition, the Fund will take
into consideration Community Reinvestment Act assessments of Insured
Depository Institutions and/or their Affiliates.
6. Award Notification: Each Applicant will be informed of the
Fund's award decision either through a Notice of Award (NOA) if
selected for an award (see NOA section, below) or written declination
if not selected for an award. The Fund will notify Awardees by e-mail
using the addresses maintained in the Awardee's myCDFIFund account.
Each Applicant that is not selected for an award based on reasons other
than completeness or eligibility issues will be provided the
opportunity for 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.
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, 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 (NOA): The Fund will signify its conditional
selection of an Applicant as an Awardee by delivering a signed NOA to
the Applicant through its myCDFIFund account. The NOA 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 NOA and return it to the Fund. By executing a NOA, the
Awardee agrees, 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 NOA or take such other actions as it deems appropriate.
Moreover, by executing a NOA, the Awardee agrees that, if prior to
entering into an Assistance Agreement with the Fund, the Fund
determines that the Awardee or an Affiliate of 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 NOA 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 NOA, signed by
the authorized representative of the Awardee, along with any other
requested documentation, within the deadline set by the Fund. For
purposes of this section, the Fund will consider an Affiliate to mean
any entity that meets the definition of Affiliate in the Regulations.
1. Failure to Meet Reporting Requirements: If an Awardee or an
Affiliate of the Awardee is a prior 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 NOA, 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
any 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 NOA 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 an Affiliate of the Awardee 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 NOA 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 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,
[[Page 49449]]
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 an Affiliate of the Awardee is a prior 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 and the Fund
has not specified in writing that the prior Awardee or allocatee is
otherwise eligible to receive an Award under this NOFA, the Fund
reserves the right, in its sole discretion, to terminate and rescind
the NOA and the award made under this NOFA.
4. Termination in Default: If (i) within the 12-month period prior
to entering into an Assistance Agreement through this NOFA, the Fund
has made a final determination that an Awardee that is a prior 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
within the 12-month period prior to the application deadline of this
NOFA, the Fund reserves the right, in its sole discretion, to delay
entering into or determine not to enter into an Assistance Agreement.
Further, if (i) within the 12-month period prior to entering into an
Assistance Agreement through this NOFA, the Fund has made a final
determination that an Affiliate of the Awardee is a prior 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
within the 12-month period prior to the application deadline of this
NOFA, the Fund reserves the right, in its sole discretion, to delay
entering into or determine not to enter into an Assistance Agreement.
5. Compliance with Federal Anti-Discrimination Laws: If the Awardee
has previously received funding through any Fund program, and if at any
time prior to entering into an Assistance Agreement through this NOFA,
the Fund is made aware of a final determination, made within the last
three years, in any proceeding instituted against the Awardee in, by,
or before any court, governmental, or administrative body or agency,
declaring that the Awardee has discriminated on the basis of race,
color, national origin, disability, age, marital status, receipt of
income from public assistance, religion, or sex, the Fund reserves the
right, in its sole discretion, to terminate and rescind the NOA and the
award made under this NOFA.
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 eligible market to which the
funded activity must be targeted; (v) performance goals and measures;
and (vi) reporting requirements for all Awardees. FA-only 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 NOA 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.
Each 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
Reports (including an OMB A-133 audit, as applicable; however Financial
Reports are not required of Sponsoring Entities); (ii) Institution
Level Report; (iii) Transaction Level Report (for Awardees receiving FA
awards); (iv) Financial Status Report form SF-269/SF-425 (for Awardees
receiving TA grants); (v) Uses of Financial Assistance (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
entities or 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 CDFI Program. All reports must be electronically
submitted to the Fund via the Awardee's myCDFIFund account. 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 Reports may be
submitted through CIIS. All other components of the Annual Report may
be submitted electronically, as directed, 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 an award must provide the Fund with the required complete
and accurate Automated Clearinghouse (ACH) form for its bank account
prior to award closing and disbursement.
VII. Agency Contacts
A. 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
[[Page 49450]]
publication of this NOFA through three days prior to the application
deadline. The Fund will not respond to questions or provide support
concerning the application that are received after 5 p.m. ET on said
dates, 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.
B. The Fund's contact information is as follows:
Table 5--Contact Information
------------------------------------------------------------------------
Telephone number
Type of question (not toll free) E-mail addresses
------------------------------------------------------------------------
Fax number for all offices: 202-622-7754
------------------------------------------------------------------------
CDFI Program.................... 202-622-6355 cdfihelp@cdfi.treas
.gov.
CDFI Certification.............. 202-622-6355 cdfihelp@cdfi.treas
.gov.
Compliance Monitoring and 202-622-6330 cme@cdfi.treas.gov.
Evaluation.
Information Technology Support.. 202-622-2455 IThelp@cdfi.treas.g
ov.
------------------------------------------------------------------------
C. Information Technology Support: People who have visual or
mobility impairments that prevent them from creating a Target Market
map using the Fund's Web site should call (202) 622-2455 for assistance
(this is not a toll free number).
D. Communication with the CDFI Fund: The Fund will use the
myCDFIFund Internet interface to communicate with Applicants and
Awardees, using the contact information maintained in their respective
myCDFIFund accounts. Therefore, the Applicant 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 its
myCDFIFund account(s). For more information about myCDFIFund (which
includes information about the Fund's Community Investment Impact
System), please see the Help documents posted at http://
www.cdfifund.gov/ciis/accessingciis.pdf.
VIII. Information Sessions and Outreach
The Fund may conduct Webcasts or host information sessions for
organizations that are considering applying to, or are interested in
learning about, the Fund's programs. For further information, please
visit the Fund's Web site at http://www.cdfifund.gov.
Authority: 12 U.S.C. 4703, 4703 note, 4704, 4706, 4707, 4717;
12 CFR part 1805.
Dated: September 16, 2009.
Donna J. Gambrell,
Director, Community Development Financial Institutions Fund.
[FR Doc. E9-23343 Filed 9-25-09; 8:45 am]
BILLING CODE 4810-70-P