[Federal Register: April 28, 2009 (Volume 74, Number 80)]
[Notices]
[Page 19275-19283]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr28ap09-109]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Notice of Funds Availability (NOFA) Inviting Applications for the
Supplemental FY 2009 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) awards through
the Supplemental FY 2009 Funding Round of the CDFI Program must be
received by 5 p.m. et, Wednesday, May 27, 2009.
Executive Summary: For FY 2009, the Community Development Financial
Institutions Fund (the Fund), an office within the Department of the
Treasury, will conduct its CDFI Program funding round in two
components: (i) the Initial FY 2009 Funding Round, as set forth in the
NOFA published on August 15, 2008 (73 Federal Register 48011), and the
Fund's Recovery Act Implementation Plan, issued on March 18, 2009
pursuant to the American Recovery and Reinvestment Act of 2009 (Pub. L.
111-5, Division A, Title V) (hereafter, the Recovery Act), and (ii) the
Supplemental FY 2009 Funding Round, as set forth in this NOFA.
Together, the two components comprise the FY 2009 Funding Round of the
CDFI Program.
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
[[Page 19276]]
Other Targeted Populations, and (ii) technical assistance (TA) grants
to CDFIs and entities proposing to become CDFIs in order to build their
capacity to better address 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 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: Through this NOFA, and subject to funding
availability, the Fund expects that it may award approximately $55
million in appropriated funds in the form of FA-only awards to Category
I/SECA and Category II/Core Applicants. The Fund reserves the right to
award in excess of $55 million in appropriated funds to Applicants in
the Supplemental FY 2009 Funding Round, provided that the funds are
available and the Fund deems it appropriate.
B. Types of Awards: Funding for the Supplemental FY 2009 Funding
Round is limited to FA awards only; FA awards will be made only in the
form of grants. FA awards are 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 four categories: (i) Financial Products, (ii) Loan Loss
Reserves, (iii) Capital Reserves, and/or (iv) 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. Loan Loss Reserves means funds that
the Applicant will set aside in the form of cash, 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. 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. FA
awards used for Operations refer to funds that the Applicant will use
to undertake Development Services, Financial Services, and/or related
purposes that the Fund deems appropriate. 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 reserves the right, in its sole discretion, to provide a
FA award in an amount other than that which the Applicant requests;
however, the award amount will not exceed the Applicant's award request
as stated in its Application.
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. Any Certified or Certifiable CDFI that did not apply in the
Initial FY 2009 Funding Round is eligible to apply for a FA award under
the Supplemental FY 2009 Funding Round, as set forth in this NOFA. For
eligibility criteria applicable to entities that submitted applications
under the Initial FY 2009 Funding Round, see Section III.A.2., below.
2. Eligibility of Initial FY 2009 Funding Round Applicants:
(a) Any Applicant that submitted an application under the Initial
FY 2009 Funding Round will automatically be considered for funding
through the Supplemental FY 2009 Funding Round, so long as the
Applicant: (i) Submitted an application for FA or FA/TA under the
Initial FY 2009 Funding Round prior to the October 29, 2008 application
deadline, and (ii) did not receive notification from either Grants.gov
or the CDFI Fund that its application was declined, rejected,
ineligible, or fatally incomplete. Such an Applicant does not need to
submit a new application for an award through the Supplemental FY 2009
Funding Round: meaning, the application that such an Applicant
submitted for the Initial FY 2009 Funding Round will be considered by
the Fund for an award under the Supplemental FY 2009 Funding Round.
Please note, however, that any Applicant that receives a FA award under
the Initial FY 2009 Funding Round may not also receive a FA award under
the Supplemental FY 2009 Funding Round.
(b) An Applicant that applied for FA or FA/TA under the Initial FY
2009 Funding Round whose application was submitted after the October
29, 2008 application deadline, or that received notification from
Grants.gov or the CDFI Fund that its application was declined,
rejected, ineligible, or fatally incomplete must submit a new
application under this NOFA in order to be eligible for funding in the
Supplemental FY 2009 Funding Round: Meaning, the application that such
an Applicant submitted for the Initial FY 2009 Funding Round will not
be considered for an award under the Supplemental FY 2009 Funding
Round.
(c) An Applicant that submitted an application for TA-Only under
the Initial FY 2009 Funding Round must submit an application under this
NOFA to be eligible for FA funding in the Supplemental FY 2009 Funding
Round.
3. FA Applicant Categories: All Applicants for FA awards through
this NOFA must meet the criteria for one of the following two
categories:
[[Page 19277]]
Table 1--FA Applicant Criteria
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Applicant may apply
FA Applicant category Applicant criteria for: Application deadline
----------------------------------------------------------------------------------------------------------------
Category I/Small and/or Emerging CDFI (1) Is a Certified/ Up to and including 5 p.m. ET, Wednesday,
Assistance (SECA). Certifiable CDFI; $600,000 in FA funds. May 27, 2009.
(2) Has total assets,
as of the end of the
Applicant's most
recent fiscal year end
or March 31, 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,
2005; 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 p.m. ET, Wednesday,
CDFI that meets all million in FA funds. May 27, 2009.
other eligibility However, the amount of
requirements described FA funds awarded may
in this NOFA. be reduced by the
amount of any TA
awards received by an
Awardee in the Initial
FY 2009 Funding Round.
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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 $600,000 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. (4) The term ``Native Initiatives Funding
Programs'' refers to the Native American CDFI Assistance (NACA)
Program and all prior Native American funding programs sponsored by
the Fund, 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.
4. CDFI Certification Requirements: For purposes of this NOFA,
eligible FA Applicants include Certified CDFIs and Certifiable 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 certification requirements as of March 18, 2009, the
certification of which has not expired and that has not been notified
by the Fund that its certification has been terminated. Each such
Applicant must submit a ``Certification of Material Event Form'' to the
Fund not later than May 15, 2009.
Please note: The Fund provided some 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 CDFIs meet this eligibility requirement.
(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 March 18, 2009, evidencing that
the Applicant meets the requirements to be certified as a CDFI.
Please note: 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. If the Fund is unable to certify the
organization as a CDFI based on the CDFI certification application
that the 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.
5. Limitation on Awards: An Applicant may receive only one FA award
through the FY 2009 Funding Round of the CDFI Program; meaning, any
Applicant that receives a FA award under the Initial FY 2009 Funding
Round may not also receive a FA award under the Supplemental FY 2009
Funding Round. Further, the amount of a FA award made through the
Supplemental FY 2009 Funding Round will be reduced by the amount of any
TA award received by an Awardee in the Initial FY 2009 Funding Round. 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.
6. Waiver of General Applicability for FY 2009 BEA Program
Applicants: For the purposes of the Supplemental FY 2009 Funding Round
of the CDFI Program, the Fund hereby waives the requirements of 12 CFR
1805.102(a)(1)(i). All other requirements of 12 CFR 1805.102 remain in
effect. Therefore, an Applicant may receive a FY 2009 Bank Enterprise
Award (BEA) Program award if it has a CDFI Program application pending
in the Supplemental FY 2009 Funding Round of the CDFI Program subject
to the limitations of 12 CFR 1806.102.
7. Contacting the Fund. The CDFI Certification Application and
other information regarding CDFI certification may be obtained from the
Fund's Web site at http://www.cdfifund.gov.
B. Prior Awardees: Applicants must be aware that success in a prior
round
[[Page 19278]]
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: Pursuant to the Recovery Act, the $5
million dollar funding cap is waived for the FY 2009 Funding Round of
the CDFI Program.
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 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
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 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 an Affiliate of
the Applicant is a prior Fund 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 Fund Awardee or
allocatee under any Fund program if: (i) Within the 12-month period
prior to the applicable application deadline of this NOFA, 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 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 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 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 Fund Awardee
under any Fund program if the Applicant has a balance of undisbursed
award 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 an Affiliate of
the Applicant is a prior Fund 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 Fund 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.
To calculate total includable BEA/CDFI/NI awards: amounts that are
undisbursed as of the application deadline of this NOFA cannot exceed
five percent (5%) 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 2009 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
[[Page 19279]]
business days prior to the application deadline of this NOFA.
7. Contacting 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).
Disbursement questions should be directed to Grants Management via e-
mail to grantsmanagement@cdfi.treas.gov. Reporting and compliance
questions should be directed to Compliance, Monitoring and Evaluation
(CME) at (202) 622-6330 or by e-mail to cme@cdfi.treas.gov. Telephone
calls to Grants Management and Financial Management should be directed
to (202) 622-8226; facsimiles to (202) 622-7754; and 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 publication of this NOFA through May 25, 2009. The Fund will not
respond to Applicants' reporting, disbursement or compliance phone
calls or e-mail inquiries that are received after 5 p.m. ET on said
date, until after the funding application deadline.
C. 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 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, or 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.
D. Matching Funds: Pursuant to the Recovery Act, matching funds
requirements have been waived for the FY 2009 Funding Round of the CDFI
Program.
IV. Application and Submission Information
A. 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.
B. Applications Submitted via myCDFIFund: Applicants must submit
applications under this NOFA electronically, through myCDFIFund, the
Fund's internet-based interface. Please note that, for the Supplemental
FY 2009 Funding Round, 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
www.cdfifund.gov instructions for accessing and submitting an
Application as soon as they become available.
C. Application Content Requirements: Detailed application content
requirements are found in the application and guidance. Please note
that, pursuant to OMB guidance (68 Federal Register 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 sentence does 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).
D. 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.
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: Applicants must submit all materials
described in and required by the application by the applicable
deadline.
1. Application Deadlines: Applications must be received in
accordance with this NOFA by the following deadlines:
[[Page 19280]]
Table 2--FY 2009 CDFI Program Deadlines
[All 5 p.m. ET deadlines]
----------------------------------------------------------------------------------------------------------------
Application type Application deadline Last date to contact fund staff
----------------------------------------------------------------------------------------------------------------
CDFI Program Funding Application Wednesday, May 27, 2009.. Monday, May 25, 2009.
(FA) (Core/SECA).
----------------------------------------------------------------------------------------------------------------
All 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. Applicants 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 follows:
Table 3--Application Scoring Criteria
------------------------------------------------------------------------
Application sections Scoring points
------------------------------------------------------------------------
Market Analysis............................ SECA-25
Core-20.
Business Strategy.......................... SECA-25
Core-20.
Community Development Performance & SECA-20
Effective Use. Core-20.
Management................................. SECA-20
Core-20.
Financial Health & Viability............... SECA-10
Core-20.
------------------------------------------------------------------------
C. 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, or 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 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 2009 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 2006, FY 2007, or FY 2008 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
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 (3) 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
[[Page 19281]]
available. Category I/SECA and Category II/Core Applicants will be
ranked separately. In addition, the Fund shall 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 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 (i) improvement in status is imminent and
such improvement is expected to occur not later than September 30,
2009, 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
will be provided a written 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 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 through its myCDFIFund account. 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, 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, 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 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 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. For purposes of
this section, the Fund will consider an Affiliate to mean 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.
1. Failure to meet reporting requirements: If, after considering an
Application, an Awardee, or an Affiliate of the Awardee that is a prior
Fund Awardee or allocatee under any Fund program becomes 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 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 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 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
[[Page 19282]]
Notice of Award and the award made under this NOFA.
3. Default status: If, after considering an application and 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 an Affiliate of the
Awardee 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
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 Notice of Award 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 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
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 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 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 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 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 application deadline, may not apply for a new award
through the NOFA for another CDFI Fund program funding round after the
date of said deobligation.
6. 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 (3) 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 Notice
of Award 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 Assistance
Agreements under this NOFA generally will have three-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.
Each FA Awardee must provide the Fund with a certificate of good
standing (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); (ii) Institution
Level Report; (iii) Transaction Level Report (for Awardees receiving FA
awards); (iv) Uses of Financial Assistance Report (for Awardees
receiving FA awards); (v) Explanation of Noncompliance (as applicable);
and (vi) 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. 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. 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 a
FA award through this NOFA to account for and track the use of said FA
award. This means that for every dollar of a FA award received from the
Fund, the Awardee will be required to inform the Fund of its uses. This
will require
[[Page 19283]]
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 publication of this NOFA
through May 25, 2009. 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 respective 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 4--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone number
Type of question (not toll free) E-mail addresses
----------------------------------------------------------------------------------------------------------------
Fax number for all offices: 202-622-7754
----------------------------------------------------------------------------------------------------------------
Information Technology/Technical 202-622-2455 ithelpdesk@cdfi.treas.gov.
Support.
CDFI Program...................... 202-622-6355 cdfihelp@cdfi.treas.gov.
CDFI Certification................ 202-622-6355 cdfihelp@cdfi.treas.gov.
Grants Management................. 202-622-8226 grantsmanagement@cdfi.treas.gov.
Compliance, Monitoring and 202-622-6330 cme@cdfi.treas.gov.
Evaluation.
----------------------------------------------------------------------------------------------------------------
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. 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 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 is provided for illustrative purposes only and
should not be relied on for purposes of this NOFA).
E. Communication with the CDFI Fund: The Fund will use the
myCDFIFund Internet interface to correspond 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 my CDFIFund (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, 4704, 4706, 4707, 4717; 12 CFR part
1805.
Dated: April 17, 2009.
Donna J. Gambrell,
Director, Community Development Financial Institutions Fund.
[FR Doc. E9-9633 Filed 4-27-09; 8:45 am]
BILLING CODE 4810-70-P