Funding Opportunity Title: Notice of Funds Availability (NOFA) Inviting Applications for Financial Assistance (FA) Awards or Technical Assistance (TA) Grants Under the Community Development Financial Institutions Program (CDFI Program) FY 2015 Funding Round, 58404-58416 [2014-23060]

Download as PDF 58404 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices allow matured or called definitive (paper) registered securities to be paid to another party. Affected Public: Individuals or households. Estimated Annual Burden Hours: 400. OMB Number: 1535–0113. Type of Review: Revision of a currently approved collection. Title: Disclaimer and Consent with Respect to United States Savings Bond/ Notes. Form: PD F 1849. Abstract: Used to obtain a disclaimer and consent as the result of an error in registration or otherwise the payment, refund of the purchase price, or reissue as requested by one person would appear to affect the right, title or interest of some other person. Affected Public: Individuals or households. Estimated Annual Burden Hours: 300. Dawn D. Wolfgang, Treasury PRA Clearance Officer. DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund [FR Doc. 2014–23053 Filed 9–26–14; 8:45 am] Funding Opportunity Title: Notice of Funds Availability (NOFA) Inviting Applications for Financial Assistance (FA) Awards or Technical Assistance (TA) Grants Under the Community Development Financial Institutions Program (CDFI Program) FY 2015 Funding Round BILLING CODE 4810–39–P Announcement Type: Announcement of funding opportunity. Funding Opportunity Number: CDFI– 2015–FATA Catalog Of Federal Domestic Assistance (CFDA) Number: 21.020 KEY DATES: TABLE 1—FY 2015 CDFI PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Description Deadline Time (Eastern daylight time-EDT) CDFI Certification Applications .................. Last day to contact CDFI Program staff ... October 24, 2014 .............. November 20, 2014 ........... 5:00 p.m. EDT ................... 5:00 p.m. EDT ................... CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA). November 24, 2014 ........... 11:59 p.m. EDT ................. tkelley on DSK3SPTVN1PROD with NOTICES Executive Summary: Through the CDFI Program, the CDFI Fund provides (i) FA awards of up to $2 million to Certified Community Development Financial Institutions (CDFIs) to build their financial capacity to lend to their Target Markets, and (ii) TA grants of up to $125,000 to build Certified, Certifiable, and Emerging CDFIs’ organizational capacity to serve their Target Markets. All awards provided through this NOFA are subject to funding availability. I. Program Description A. History: The CDFI Fund was established by the Riegle Community Development Banking and Financial Institutions Act of 1994 to promote economic revitalization and community development through investment in and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has awarded over $1.9 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program (CDFI Program), the Native American CDFI Assistance Program (NACA Program), the Bank Enterprise Award Program (BEA Program), the Capital Magnet Fund, and the Financial Education and Counseling VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 Pilot Program. In addition, the CDFI Fund has allocated $40 billion in tax credit allocation authority through the New Markets Tax Credit Program (NMTC Program) and has obligated $325 million in bond guarantees to Eligible CDFIs through the CDFI Bond Guarantee Program. B. Priorities: Through the CDFI Program’s FA awards and TA grants, the CDFI Fund invests in and builds the capacity of for-profit and non-profit community based lending organizations known as Community Development Financial Institutions, or CDFIs. These organizations, Certified as CDFIs by the CDFI Fund, serve rural and urban lowincome people and communities across the nation that lack adequate access to affordable financial products and services. C. Authorizing Statutes and Regulations: The CDFI Program is authorized by the Riegle Community Development Banking and Financial Institutions Act of 1994 (Pub. L. 103– 325, 12 U.S.C. 4701 et seq.). The regulations governing the CDFI Program are found at 12 CFR Parts 1805 and 1815 (the Regulations) and set forth evaluation criteria and other program requirements. The CDFI Fund encourages Applicants to review the PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 Submission method MyCDFI Fund. CDFI Fund Helpdesk: 202–653–0421 or cdfihelp@cdfi.treas.gov. Electronically via Grants.gov. Regulations, this NOFA, the Application, and the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200; 78 FR 78590) (Uniform Federal Award Requirements) for a complete understanding of the program; capitalized terms in this NOFA are defined in the authorizing statute, the Regulations, this NOFA, the Application, and the Uniform Federal Award Requirements. Details regarding Application content requirements are found in the Application and related materials. D. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200): In December 2013, the Office of Management and Budget (OMB) published a final rule that provides a government-wide framework for grants management, with the goal of combining several OMB guidance circulars, reducing administrative burden for Recipients, and reducing the risk of waste, fraud and abuse of Federal financial assistance. The Uniform Federal Award Requirements codifies financial, administrative, procurement, and program management standards that Federal award agencies must E:\FR\FM\29SEN1.SGM 29SEN1 58405 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices follow. When evaluating award applications, awarding agencies must evaluate the risks to the program posed by each applicant, and each applicant’s merits and eligibility. These requirements are designed to ensure that applicants for Federal assistance receive a fair and consistent review prior to an award decision. This review will assess items such as the Applicant’s financial stability, quality of management systems, history of performance, and single audit findings. In addition, the CDFI Fund programs, particularly if the CDFI Fund determines that the number of awards made through this NOFA is fewer than projected. Uniform Federal Award Requirements includes guidance on audit requirements and other award requirements that award Recipients must comply with. E. Funding limitations: The CDFI Fund reserves the right to fund, in whole or in part, any, all, or none of the Applications submitted in response to this NOFA. The CDFI Fund also reserves the right to reallocate funds from the amount that is anticipated to be available through this NOFA to other II. Federal Award Information A. Funding Availability: 1. FY 2015 Funding Round: Subject to funding availability, the CDFI Fund expects to award, through this NOFA, approximately $186 million as indicated in the following table: TABLE 2—FY 2015 FUNDING ROUND ANTICIPATED CATEGORY AMOUNTS Estimated total amount to be awarded (millions) Funding categories (See definition in Table 7) Award amount Minimum Maximum Estimated number of awards Average amount awarded in FY 2013 FA: Category I/Small and/or Emerging CDFI Assistance (SECA) ............................................................................. FA: Category II/Core ............................................................ TA ......................................................................................... Healthy Food Financing Initiative—Financial Assistance (HFFI–FA) * ....................................................................... $19 128 4 $100,000 100,000 10,000 $700,000 2,000,000 125,000 40 110 40 $400,000 1,250,000 67,500 35 500,000 5,000,000 13 2,750,000 Total .............................................................................. 186 ........................ ........................ 203 tkelley on DSK3SPTVN1PROD with NOTICES * HFFI–FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs. The CDFI Fund reserves the right to award more or less than the amounts cited above in each category, based upon available funding and other factors, as appropriate. 2. Funding Availability for the FY 2015 Funding Round: Funds for the FY 2015 Funding Round have not yet been appropriated; if Congress does not appropriate funds for the CDFI Program, there will not be a FY 2015 Funding Round. If funds are appropriated, the amount of such funds may be greater or less than the amounts set forth above. In the event that funds are not appropriated for the NACA Program, CDFIs that qualify for NACA Program awards are encouraged to apply for CDFI Program awards through this NOFA. The CDFI Fund reserves the right to contact applicants to seek additional information in the event that the final FY 2015 appropriations for the CDFI Program change any of the requirements in this NOFA. 3. Anticipated Start Date and Period of Performance: The CDFI Fund anticipates the period of performance for the FY 2015 Funding Round will begin in the fall of calendar year 2015. Specifically, the period of performance for TA grants begins with the date of the notice of the award and includes an award Recipient’s two full consecutive fiscal years after the date of the notice of the award, during which the Recipient must meet the performance goals set forth in the Assistance VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 Agreement. The period of performance for FA awards includes an award Recipient’s three full consecutive fiscal years after the date of the notice of the award, during which time the Recipient must meet its performance goals. B. Types of Awards: Through the CDFI Program, the CDFI Fund provides two types of awards: Financial Assistance (FA) and Technical Assistance (TA) awards. An Applicant may submit an Application for a TA grant or an FA award, but not both. 1. FA Awards: FA awards can be in the form of loans, grants, Equity Investments, and deposits and credit union shares. The form of the FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide an FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its Application. 2. Healthy Food Financing Initiative— Financial Assistance (HFFI–FA) Awards: HFFI–FA awards will be provided as a supplement to FA awards; therefore, only those Applicants that have been selected to receive an FA PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 award through the CDFI Program FY 2015 Funding Round will be eligible to receive an HFFI–FA award. HFFI–FA awards can be in the form of loans, grants, Equity Investments, and deposits and credit union shares. The form of the HFFI–FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for HFFI–FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide an HFFI–FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its Application. 3. TA Grants: TA is provided in the form of grants. The CDFI Fund reserves the right, in its sole discretion, to provide a TA grant in an amount other than which the Applicant requests; however, the TA grant amount will not exceed the Applicant’s request as stated in its Application and the applicable budget chart. C. Eligible Activities: 1. FA Awards: FA and HFFI–FA award funds can be expended for activities in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; E:\FR\FM\29SEN1.SGM 29SEN1 58406 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices and (v) Capital Reserves. Each of the allowable activity categories will be eligible for indirect costs and an associated indirect cost rate. Indirect cost rates will be determined as part of the terms and conditions of the award. For purposes of this NOFA, the five activity categories are defined as follows: TABLE 3—FA AND HFFI–FA ELIGIBLE ACTIVITY CATEGORIES FA Activity FA Activity definition i. Financial Products ............................... FA expended as loans, Equity Investments and similar financing activities (as determined by the CDFI Fund) including the purchase of loans originated by Certified CDFIs and the provision of loan guarantees; in the case of CDFI Intermediaries, grants to CDFIs and/or emerging CDFIs and deposits in Insured Credit Union CDFIs, emerging Insured Credit Union CDFIs, and/or State-Insured Credit Union CDFIs. FA expended for the provision of checking and savings accounts, certified checks, automated teller machines services, deposit taking, remittances, safe deposit box services, and other similar services. FA 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 the Applicant’s Target Market, or for related purposes that the CDFI Fund deems appropriate. FA expended for activities that promote community development and are integral to the Applicant’s provision of Financial Products and Financial Services. Such services that shall prepare or assist current or potential borrowers or investees to utilize the Financial Products or Financial Services of the Applicant. FA set aside as 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 as the CDFI Fund deems appropriate. ii. Financial Services ............................... iii. Loan Loss Reserves .......................... iv. Development Services ....................... v. Capital Reserves ................................. 2. TA Grants: TA grant funds can be expended for the following seven eligible activity categories: (i) Compensation—personal services; (ii) Compensation—fringe benefits; (iii) Professional Service Costs; Eligible CDFI Institution types (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment and other capital expenditures; and (vii) Supplies. Each of the allowable activity categories will be eligible for indirect costs and an associated indirect cost All. Insured Depository Institutions only. All. All. Insured Depository Institutions only. rate. Indirect cost rates will be determined as part of the terms and conditions of the award. For purposes of this NOFA, the seven activity categories are defined as follows: TABLE 4—TA ELIGIBLE ACTIVITY CATEGORIES (i) Compensation—personal services ..... (ii) Compensation—fringe benefits .......... (iii) Professional service costs ................. (iv) Travel costs ....................................... (v) Training and education costs ............. tkelley on DSK3SPTVN1PROD with NOTICES (vi) Equipment ......................................... (vii) Supplies ............................................ VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 TA paid to cover salaries of the Applicant’s personnel that are paid currently or accrued by the Applicant for work performed directly related to carrying out the purpose of the TA grant (including activities related to becoming certified as a CDFI), subject to the applicable provisions of the Uniform Federal Award Requirements. TA paid to cover costs of the Applicant’s personnel employment (other than the employees’ salaries income) in proportion to the salary charged to the TA grant, to the extent that such payments are made under formally established and consistently applied organizational policies, subject to the applicable provisions of the Uniform Federal Award Requirements. TA used to pay for professional and consultant services rendered by persons who are members of a particular profession or possess a special skill, and who are not officers or employees of the Recipient, subject to the applicable provisions of the Uniform Federal Award Requirements. Payment for a consultant’s services may not exceed the daily equivalent of the current maximum rate paid to an Executive Schedule Level IV Federal employee. TA used to pay expenses for transportation, lodging, subsistence, and related items incurred by the Applicant’s personnel who are on travel status on business related to the TA grant, subject to the applicable provisions of the Uniform Federal Award Requirements. TA used to pay the cost of training and education provided for employee development, subject to the applicable provisions of the Uniform Federal Award Requirements. TA used to pay for tangible personal property, having a useful life of more than one year and a perunit acquisition cost of at least $5,000 and subject to the applicable provisions of the Uniform Federal Award Requirements. Examples include office equipment, furnishings, and information technology equipment and systems. TA used to pay for tangible personal property with a per unit acquisition of less than $5,000 and subject to the applicable provisions of the Uniform Federal Award Requirements. PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices III. Eligibility Information A. Eligible Applicants: For the purposes of this NOFA, the following tables set forth the eligibility criteria to receive an award from the CDFI Fund, along with certain definitions of terms. There are four categories of Applicant eligibility criteria: (1) CDFI certification criteria (Table 5); (2) requirements that 58407 apply to all Applicants (Table 6); (3) requirements that apply to TA Applicants (Table 7); and (4) requirements that apply to FA Applicants (Table 8). TABLE 5—CDFI CERTIFICATION CRITERIA DEFINITIONS Certified CDFI .......................................... Certifiable CDFI ....................................... Emerging CDFI ........................................ • An entity that the CDFI Fund has officially notified that it meets all CDFI certification requirements. • An entity that has submitted a CDFI Certification Application to the CDFI Fund demonstrating that it meets the CDFI certification requirements but which has not yet been officially certified. • The CDFI Fund will not enter into an Assistance Agreement or disburse FA award funds unless and until an Applicant is Certified CDFI. • A non-Certified entity that has not submitted a CDFI Certification Application but demonstrates to the CDFI Fund that it has an acceptable plan to meet certification requirements by the end of its period of performance, or another date that the CDFI Fund selects. • An Emerging CDFI that has prior award(s) will be held to the CDFI certification performance goal and measure(s) stated in its prior Assistance Agreement(s). • Emerging CDFIs may only apply for TA grants; they are not eligible to apply for FA awards. • Each Emerging CDFI selected to receive a TA grant will be required to become a Certified CDFI by a date specified in the Assistance Agreement. TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS Applicant .................................................. Application type and submission overview. Microsoft Word Narrative Template ........ Microsoft Excel Workbook ....................... Employer Identification Number (EIN) ..... DUNS number ......................................... MyCDFI Fund account ............................ 501(c)(4) status ....................................... tkelley on DSK3SPTVN1PROD with NOTICES Compliance with Federal civil rights requirements. Depository Institution Holding Company Applicant. VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 • Only the entity that will carry out the proposed award activities should apply for an award (e.g., the intended award Recipient). • An Applicant that applies on behalf of another organization will be rejected without further consideration, except for Depository Institution Holding Companies (see below). • The CDFI Fund will only accept Applications that use the official Word Narrative and Excel Workbook templates provided on the Grants.gov and CDFI Fund Web sites. • Applications submitted with alternative or altered templates will not be considered. • Only Applications submitted via the Grants.gov Web site will be accepted for review. • Each Applicant must submit a completed Microsoft Word Narrative Template. • An Applicant that does not submit a completed Narrative Template will be rejected without further consideration. • Each Applicant must submit a completed Microsoft Excel Workbook template. • An Applicant that does not submit a completed Microsoft Excel Workbook template will be rejected without further consideration. • An Applicant must provide an electronic copy of the letter from the IRS as evidence that the Applicant has been assigned its own unique EIN. • The CDFI Fund will reject an Application submitted with the EIN of a parent or Affiliate organization. • The CDFI Fund will deem an Application incomplete if it does not include an IRS document that verifies the Applicant’s EIN (a tax return is not an acceptable form of IRS documentation). The CDFI Fund will allow an Applicant two business days upon request by the CDFI Fund to submit the appropriate documentation before the Application will be rejected without further consideration due to missing documentation of the Applicant’s EIN. • Pursuant to OMB guidance (68 FR 38402), an Applicant must apply using its unique DUNS number in Grants.gov. • The CDFI Fund will reject an Application submitted with the DUNS number of a parent or Affiliate organization. • Each Applicant must register as an organization in MyCDFI Fund by the Application deadline. • The Authorized Representative and/or Application point of contact must be included as ‘‘users’’ in the Applicant’s MyCDFI Fund account. • An Applicant that fails to properly register and update its MyCDFI Fund account may miss important communication from the CDFI Fund that could impact its Application. • The CDFI Fund will allow an Applicant two business days upon request by the CDFI Fund to create or update its MyCDFI Fund account before the Application will be rejected without further consideration. • Pursuant to 2 U.S.C. 1611, a 501(c)(4) any organization that engages in lobbying activities is not eligible for the receipt of a CDFI or NACA Program award. • An Applicant may not be eligible to receive an award if proceedings have been instituted against it in, by, or before any court, governmental agency, or administrative body, and a final determination within the last three years indicates the Applicant has violated any of the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency. • In the case where a CDFI Depository Institution Holding Company Applicant intends to carry out the activities of an award through its CDFI Subsidiary Insured Depository Institution, the Application must be submitted by the CDFI Depository Institution Holding Company and reflect the consolidated activities and financial performance of the CDFI Subsidiary Insured Depository Institution. PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 58408 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS—Continued Insured CDFI—Insured Credit Union and Insured Depository Institution. Use of award ........................................... Requested award amount for eligible activities. Pending resolution of noncompliance ..... Default status ........................................... Undisbursed award funds and calculations (general). • Authorized representatives of both the Depository Institution Holding Company and the CDFI Subsidiary Insured Depository Institution must certify that the information included in the Application represents that of the CDFI Subsidiary Insured Depository Institution and that the award funds will be used to support the CDFI Subsidiary Insured Depository Institution for the eligible activities outlined in the Application. • To be eligible for an award, each Insured Depository Institution Applicant must have a CAMELS/ CAMEL (rating for banks and credit unions, respectively), by its Federal regulator of at least ‘‘4.’’ • Organizations with CAMELS/CAMEL ratings of ‘‘5’’ will not be eligible for awards. • All awards made through this NOFA must be used to support the Applicant’s approved FA or TA eligible activities (see Section II.C). • Awards cannot be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, third-party entities, whether Affiliates, Subsidiaries, or others (except Depository Institution Holding Company Applicants.) • An Applicant must state its requested award amount and proposed eligible activities in the ‘‘Award Request Table’’ (Tab 4—Purpose) in the Excel Workbook. • An Applicant that does not fully complete the ‘‘Award Request Table’’ will be rejected without further consideration. • The CDFI Fund will consider an Application submitted by an Applicant that has pending noncompliance issues if the CDFI Fund has not yet made a final determination as to whether the Applicant is in default of any of its previously executed award agreement(s). • The CDFI Fund will not consider an Application submitted by an Applicant that has been notified by the CDFI Fund in writing that it is in default of a previously executed award agreement under any CDFI Fund program, at the time of the Application deadline. • The CDFI Fund will not consider any Applicant that has defaulted on a CDFI Program loan within five years of the Application deadline. • An Applicant that has funds from a prior award that have not been disbursed, as defined in (a)–(d) below, as of the Application deadline will not be eligible for an award. (a) The CDFI Fund will include the combined undisbursed award funds of the Applicant and its Affiliates. (b) Balances on undisbursed award funds cannot exceed five percent of the combined BEA Program awards made to the Applicant in FYs 2011, 2012, and 2013. (c) Balances on undisbursed award funds cannot exceed five percent of the combined CDFI/NACA Program awards made to the Applicant in FYs 2011, 2012, and 2013. (d) The undisbursed award funds calculation does not include award funds for: (i) Which the Recipient has submitted a full and complete disbursement request before the Application deadline; (ii) an award that has been terminated or de-obligated; or (iii) an award that does not have a fully executed award agreement; and (iv) the tax credit allocation authority made available through the NMTC Program. TABLE 7—ELIGIBILITY REQUIREMENTS FOR TA APPLICANTS CDFI certification status .......................... Matching funds ........................................ (1) Certifiable or Emerging CDFIs (see definitions in Table 5), or (2) Certified CDFIs (see Table 5) that meet the SECA criteria (see Table 8). • Matching funds documentation is not required for TA awards. TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS CDFI certification status .......................... Matching funds documentation ............... tkelley on DSK3SPTVN1PROD with NOTICES $5 Million funding cap ............................. FA Category I (SECA) ............................. VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 • Each FA Applicant must be a Certified CDFI prior to the announcement of award decisions. • An Applicant that is in a cure period to remedy CDFI recertification deficiencies at the time of award announcements will not be eligible for an FA award under this NOFA. • All Applicants must submit acceptable documentation that they have received or will receive matching funds. Applications that do not submit acceptable matching funds documentation will not be evaluated. • Award size will be limited to no more than two times the amount of In-Hand or Committed matching funds documentation provided at the time of Application, but actual award size may be less than this amount. Awards will be obligated in like form to the matching funds provided. • Award payments from the CDFI Fund will require eligible dollar-for-dollar In-Hand matching funds for the total payment amount. • Any award Recipient that is not able to demonstrate dollar-for-dollar matching funds by the end of the Matching Funds Window will have its award amount reduced and the corresponding funds will be de-obligated. • The CDFI Fund is prohibited from obligating more than $5 million in CDFI and NACA Program awards, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period. • The CDFI Fund will make FY 2015 funding round award announcements on or after August 7, 2015; the CDFI Fund will include awards in the cap calculation that were provided to an Applicant (and its Subsidiaries and Affiliates) under the FY 2013 and 2014 funding rounds, as well as the requested FY 2015 award, excluding HFFI–FA awards. • To be an eligible SECA Applicant, an Applicant must meet the following criteria: (1) Be a Certified or Certifiable CDFI; (2) Request $700,000 or less in FA funds; and either PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices 58409 TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS—Continued FA Category II (Core) .............................. HFFI–FA .................................................. (3) Have total assets * as of the end of the Applicant’s most recent fiscal year end in the following amounts: • 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 (4) Have begun operations ** on or after January 1, 2011 * ‘‘Total assets’’ is defined as the Total Assets of Fiscal Year End Date field stated in the CDFI Program Applicant Intake Form. ** ‘‘Have begun operations’’ is defined as the financing activity start date indicated in the Applicant’s MyCDFI Fund account. • A Core Applicant must be either a Certified or Certifiable CDFI as defined in Table 5. • An Applicant that meets the SECA requirements stated above, that requests more than $700,000 in award funds is categorized as an FA Category II (Core) Applicant, regardless of its total assets and/or years in operation. • All HFFI–FA Applicants must: Æ Apply for an FA Core or SECA award; Æ Meet all FA award eligibility requirements; and Æ Complete and submit a CDFI/NACA Program Financial Assistance Application along with an HFFI–FA Narrative Template at the time of Application. B. Matching Funds Requirements: In order to receive an FA award, an Applicant must provide documentation of eligible dollar-for-dollar matching funds. The CDFI Fund will review all matching funds documentation prior to award disbursement and will disburse funds based upon eligible In-Hand matching funds (see Table 9 for the definition of In-Hand). The CDFI Fund encourages Applicants to review the Regulations at 12 CFR 1805.500, the Uniform Federal Award Requirements, and the matching funds guidance materials in the Excel Workbook, which is available on the CDFI Fund’s Web site and Grants.gov. Table 9 provides a summary of the matching funds requirements; additional details are set forth in the Application materials. TABLE 9—MATCHING FUNDS REQUIREMENTS Matching funds requirements by application type. Amount of required match ....................... Determination of award form ................... Matching Funds Window definition ......... Matching funds and form of award ......... tkelley on DSK3SPTVN1PROD with NOTICES In-Hand matching funds definition ........... VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 The following Applicants must provide documentation of acceptable matching funds: • Category 1/SECA FA Applicants, • Category II/Core FA Applicants; and • HFFI–FA Applicants. (upon request) * TA Applicants are not required to provide matching funds. * The matching funds requirement for HFFI–FA applicants was waived in the appropriations bill for FY 2014 and final FY 2015 appropriations are still pending. HFFI–FA applicants are not required to submit matching funds for their HFFI–FA award request at the time of application. However, the CDFI Fund reserves the right to request matching funds from HFFI–FA applicants if matching funds are not waived in the final FY 2015 CDFI Program appropriation. Applicants must submit documentation of eligible In-Hand dollar-for-dollar non-Federal matching funds for every FA award dollar to be disbursed by the CDFI Fund. FA awards will be made in comparable form and value to the eligible In-Hand or Committed matching funds documentation submitted by the Applicant. • For example, if an FA Applicant provides documentation of eligible loan matching funds for $200,000 and $400,000 of its matching funds in the form of grant, the CDFI Fund will obligate $200,000 of the FA award as a loan and $400,000 as a grant. • The Applicant must receive eligible In-Hand matching funds between January 1, 2013 and January 15, 2016. • An award Recipient must provide the CDFI Fund with all documentation demonstrating the receipt of matching funds by January 31, 2016. • Recipients will be approved for a maximum award size of two times the total amount of eligible InHand or Committed matching funds documentation included in the Application, so long as they do not exceed the award amount limit. • The form of the matching funds documented in the Application determines the form of the award. • Matching funds are eligible and In-Hand when the Applicant actually receives disbursement of the matching funds and includes acceptable documentation in the Application, showing the source, form (e.g., grant, loan, deposit, and Equity Investment), and amount of the matching funds. • The following documentation, depending on the type of award being requested, must be included in the Application: i. loan—the loan agreement and/or promissory note; ii. grant—the grant letter or agreement for all grants of $50,000 or more; iii. Equity Investment—the stock certificate and shareholder agreement; iv. retained earnings—audits or call reports from regulating entity; and v. third party in-kind contribution—evidence of receipt of contribution and valuation; and vi. clearly legible documentation that demonstrates receipt of the matching funds including the date of the transaction and the amount, such as a copy of a check or a wire transfer statement. • The CDFI Fund will only disburse FA awards that have eligible In-Hand matching funds, as determined by the CDFI Fund. PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 58410 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices TABLE 9—MATCHING FUNDS REQUIREMENTS—Continued Committed matching funds definition ...... Limitations on matching funds ................. Rights of the CDFI Fund ......................... Matching funds in the form of third-party in-kind contributions. Matching funds in the form of a loan ...... Ineligible matching funds ......................... Use of matching funds from a prior CDFI Program Recipient. Matching funds in the form of retained earnings. tkelley on DSK3SPTVN1PROD with NOTICES Special rule for Insured Credit Unions .... VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 • Matching funds are Committed when the Applicant has entered into or received a legally binding commitment from the matching funds source showing the matching funds will be disbursed to the Applicant at a future date. • The Applicant must provide to the CDFI Fund acceptable written documentation showing the source, form, and amount of the Committed matching funds (including, in the case of a loan, the terms thereof), as well as the anticipated disbursement date of the Committed funds. • Matching funds must be from non-Federal sources. • Applicants cannot proffer matching funds that were accepted as matching funds for a prior FA award under the CDFI Program or under another Federal grant or award program. • Matching funds must comply with Regulations at 12 CFR 1805.500 et seq. • The CDFI Fund will not consider any FA Application that does not include any In-Hand or Committed matching funds documentation as of the Application deadline. • Matching funds must be attributable to at least one of the five eligible activities (see Section II.C). • The CDFI Fund reserves the right to contact the matching funds source to discuss the matching funds and the documentation that the Applicant has provided. • The CDFI Fund may grant an extension of the Matching Funds Window (defined in Table 9), on a case-by-case basis, if the CDFI Fund deems it appropriate. • The CDFI Fund reserves the right to rescind all or a portion of an FA award and re-allocate the rescinded award amount to other qualified Applicant(s), if an award Recipient fails to obtain In-Hand 100 percent of the required Matching Funds during the Matching Funds Window. • Third party in-kind contributions are the value of non-cash contributions (i.e., property or services) provided by non-Federal third parties. • Third party in-kind contributions will be considered to be in the form of a grant. • Third party in-kind contributions may be in the form of real property, equipment, supplies, and other expendable property, and the value of goods and services directly benefiting the eligible activities. • For third-party in-kind contributions, the fair market value of goods and services must be documented. • Applicants will be responsible for documenting the value of all in-kind contributions as described in the Uniform Federal Award Requirements. • An FA award made in the form of a loan will have the following standardized terms: • A 13-year term with semi-annual interest-only payments due in years 1 through 10, and fully amortizing payments due each year in years 11 through 13; and • A fixed interest rate of 2.5 percent, which was calculated by the CDFI Fund based on the U.S. Department of the Treasury’s 10-year Treasury note. • The Applicant’s matching funds loan(s) must: i. have a minimum of a 3-year term. Loans presented as matching funds with less than a 3-year term will not qualify as eligible match; and ii. not be from a Federal source. • If the CDFI Fund determines that any portion of the Applicant’s matching funds is ineligible, the CDFI Fund will permit the Applicant to offer documentation of alternative matching funds as a substitute for the ineligible matching funds. • In such instances: i. the Applicant must provide acceptable alternative matching funds documentation within the period of time specified by the CDFI Fund, and ii. the alternative matching funds documentation will not increase the total amount of FA requested. If an Applicant offers matching funds documentation from an organization that was a prior Recipient under the CDFI Program, the Applicant must prove to the CDFI Fund’s satisfaction that such funds do not consist, in whole or in part, of CDFI Program funds or other Federal funds. • Retained earnings are eligible for use as matching funds when the CDFI Fund calculates an amount equal to: i. the increase in retained earnings that occurred over any one of the Applicant’s fiscal years within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds previously used for an award; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds previously used for an award; or iii. any combination of (i) and (ii) above that does not include matching funds previously used for an award. • Retained earnings will be matched in the form of a grant. • An Insured Credit Union’s retained earnings are eligible for use as matching funds when the CDFI Fund calculates an amount equal to: i. the increase in retained earnings that occurred over any one of the Applicant’s fiscal years within the Matching Funds Window, adjusted to remove revenue from Federal sources and matching funds previously used for an award; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds previously used for an award; or iii. the entire retained earnings that have been accumulated since the inception of the Applicant, as provided in the Regulations. • If option (iii) is used, the Applicant must increase its member and/or non-member shares and/or total loans outstanding by an amount equal to the amount of retained earnings committed as matching funds. PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 58411 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices TABLE 9—MATCHING FUNDS REQUIREMENTS—Continued • This increase will be measured from March 31, 2015 and must occur by the end of the Recipient’s Year 1 of Performance Period, as set forth in its Assistance Agreement, and will be based on amounts reported in the Applicant’s National Credit Union Administration (NCUA) form 5300 Call Report. • The CDFI Fund will assess the likelihood of this increase during the Application review process. • An award will not be made to any Applicant that has not demonstrated in the relevant financial statements or NCUA form 5300 Call Report that it has increased shares and/or loans by at least 25 percent of the requested FA award amount between December 31, 2013, and December 31, 2014. • The matching funds are not In-Hand until the Recipient has increased its member and/or non-member shares or total loans outstanding within the time period specified. IV. Application and Submission Information A. Address to Request an Application Package: Application materials can be found on Grants.gov and the CDFI Fund’s Web site at www.cdfifund.gov/ cdfi. Applicants may request a paper version of any Application material by contacting the CDFI Fund Help Desk at cdfihelp@cdfi.treas.gov. B. Content and Form of Application Submission: All Applications must be prepared using the English language and calculations must be made in U.S. dollars. The following table lists the required Application documents for the FY 2015 Funding Round. The CDFI Fund reserves the right to request and review other pertinent or public information that has not been specifically requested in this NOFA or the Application. Information submitted by the Applicant that the CDFI Fund has not specifically been requested will not be reviewed or considered as part of the Application. TABLE 10—REQUIRED APPLICATION DOCUMENTS Applicant type Applicant Intake Form .................................................................................... SF–424 ........................................................................................................... IRS Documentation of Organization’s EIN ..................................................... Application Excel Workbook Tab 3—Input Sheet .......................................... Application Excel Workbook Tab 4—Purpose ............................................... Application Excel Workbook Tab 5—Products .............................................. Application Excel Workbook Tab 6—Policies ................................................ Application Excel Workbook Tab 7—People ................................................. Application Excel Workbook Tab 8—Partnerships ........................................ Application Excel Workbook Tab 9—Performance ........................................ Application Excel Workbook Tab 10—Projections ......................................... Application Excel Workbook Tab 13—Matching Funds Breakout Table ....... Application Excel Workbook Tab 14—Matching Funds Grants under $50,000. Matching Funds Documentation ..................................................................... Narrative Template ......................................................................................... HFFI–FA Narrative Template ......................................................................... Policies and Procedures ................................................................................. Key Staff Resumes ......................................................................................... Organizational Chart ....................................................................................... Community Partnership Agreement ............................................................... Audited Financial Statements, September 30, 2014 Quarter End Financial Statements, and Call Reports (Insured Depository Institutions only). Financial Statements, September 30, 2014 Quarter End Financial Statements, and Call Reports (Insured Depository Institutions only). tkelley on DSK3SPTVN1PROD with NOTICES Application documents All Applicants ..................................... All Applicants ..................................... New Applicants only .......................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... FA Applicants .................................... FA Applicants, if applicable ............... Fillable PDF Fillable PDF. PDF. Excel. Excel. Excel. Excel. Excel. Excel. Excel. Excel. Excel. Excel. FA Applicants .................................... All Applicants ..................................... HFFI–FA Applicants .......................... FA Applicants .................................... All Applicants ..................................... All Applicants ..................................... All Applicants, if applicable ................ FA Applicants .................................... PDF. Word document. Word document. PDF. PDF or Word document. PDF. PDF or Word document. PDF. TA Applicants .................................... PDF. C. Application Submission: All Application documents must be submitted through the Grants.gov electronic system. The CDFI Fund will not accept Applications via MyCDFI Fund accounts, email, mail, facsimile, or other forms of communication, except in extremely rare circumstances that have been pre-approved by the CDFI Fund. The CDFI Fund strongly encourages Applicants to start the Grants.gov registration process as soon as possible (refer to the following link: https:// www.grants.gov/web/grants/ register.html) as it may take several VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 weeks to complete. An Applicant that has previously registered with Grants.gov must verify that its registration is current and active. Applicants should contact Grants.gov directly with questions related to the registration or submittal process as the CDFI Fund does not maintain the Grants.gov system. D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to the Uniform Federal Award Requirements, each Applicant must provide as part of its Application submission, a Dun and Bradstreet Universal Numbering System (DUNS) PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 Submission format number. Applicants without a DUNS number will not be able to register and submit an Application in the Grants.gov system. Please allow sufficient time for Dun & Bradstreet to respond to inquiries and/or requests for DUNS numbers. E. System for Award Management (SAM): Any entity applying for Federal grants or other forms of Federal financial assistance through Grants.gov must be registered in SAM before submitting its Application. The SAM registration process can take several weeks to complete. Applicants that have previously completed the SAM registration process must verify that E:\FR\FM\29SEN1.SGM 29SEN1 58412 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices their SAM accounts are current and active. Each Applicant must continue to maintain an active SAM registration with current information at all times during which it has an active Federal award or an Application under consideration by a Federal awarding agency. The CDFI Fund will not consider any Applicant that fails to properly register or activate its SAM account and, as a result, is unable to submit its Application by the Application deadline. Applicants must contact SAM directly with questions related to registration or SAM account changes as the CDFI Fund does not maintain this system. For more information about SAM, please visit https://www.sam.gov. F. Submission Dates and Times: 1. Submission Deadlines: The following table provides the critical deadlines for the FY 2015 Funding Round. TABLE 11—FY 2015 FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Deadline Time (EDT) Submission method CDFI Certification Applications .................. October 24, 2014 .............. 5:00 p.m. ........................... Last day to contact CDFI Program staff ... November 20, 2014 ........... 5:00 p.m. ........................... CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA). tkelley on DSK3SPTVN1PROD with NOTICES Description November 24, 2014 ........... 11:59 p.m. ......................... MyCDFI Fund: https://www.cdfifund.gov/ myCDFI. CDFI Fund Helpdesk: 202–653–0421 or cdfihelp@cdfi.treas.gov. Electronically via Grants.gov. 2. Confirmation of Application Submission: Each Applicant will receive an email from Grants.gov immediately after Application submission confirming that the submission has entered the Grants.gov system. This email will contain a tracking number for the submitted Application package. Within 48 hours, the Applicant will receive a second email which will indicate if the submitted Application package was either successfully validated or rejected with errors. However, Applicants should not rely on the email notification from Grants.gov to confirm that their Applications were validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their Application package by contacting the helpdesk at Grants.gov directly. The Application package is not officially accepted by the CDFI Fund until Grants.gov has validated the Application. 3. Multiple Application Submissions: If an Applicant submits multiple Applications, the CDFI Fund will only review the last Application submitted in Grants.gov. 4. Late Submission: The CDFI Fund will not accept an Application submitted after the Application deadline except where the submission delay was a direct result of a Federal government administrative or technological error. In such case, the Applicant must submit a request for acceptance of late Application submission and include documentation of the error no later than two business days after the Application deadline. The CDFI Fund will not respond to request for acceptance of late Application submissions after that time period. Applicants must submit late VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 Application submission requests to the CDFI Helpdesk at cdfihelp@ cdfi.treas.gov with a subject line of ‘‘Late Application Submission Request.’’ G. Funding Restrictions: FA, HFFI–FA and TA awards are limited by the following: 1. FA awards: (a) An award Recipient shall use FA funds only for the eligible activities described in Section II. Award Description (C)(1) of this NOFA and its Assistance Agreement. (b) A Recipient may not distribute FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. (c) FA funds shall only be disbursed to the Recipient. (d) The CDFI Fund, in its sole discretion, may disburse FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. 2. HFFI–FA awards: (a) An award Recipient shall use HFFI–FA funds only for the eligible activities described in Section II. Award Description (C)(1) of this NOFA and its Assistance Agreement. (b) A Recipient may not distribute FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. (c) HFFI–FA funds shall only be disbursed to the Recipient. (d) The CDFI Fund, in its sole discretion, may disburse HFFI–FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. 3. TA grants: (a) An award Recipient shall use TA funds only for the eligible activities described in Section II. Award Description (C)(2) of this NOFA and its Assistance Agreement. PO 00000 Frm 00100 Fmt 4703 Sfmt 4703 (b) A Recipient may not distribute TA funds to an Affiliate, Subsidiary or any other entity, without the CDFI Fund’s prior written consent. (c) TA funds shall only be disbursed to the Recipient. (d) The CDFI Fund, in its sole discretion, may disburse TA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. V. Application Review Information 1. Criteria: If the Applicant has submitted a complete and eligible Application, the CDFI Fund will conduct a substantive review in accordance with the criteria and procedures described in the Regulations, this NOFA, the Application guidance, and the Uniform Federal Award Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone, email, or mail for the sole purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI Fund or run the risk that its Application will be rejected. (a) Application Scoring and Award Selection (FA, HFFI–FA, and TA): The CDFI Fund will evaluate each Application using the FA and TA Application Scoring Criteria described in the Application. An Applicant must receive a minimum 50 percent of the total score for the FA, HFFI–FA, and TA components in order to be considered for an award. An Applicant that is an Emerging CDFI and has not received a previous TA award will be rated, among other elements, on its plan to meet the requirements of a Certified CDFI within two years of the beginning of the period of performance. In addition, an Emerging CDFI Applicant that is a prior E:\FR\FM\29SEN1.SGM 29SEN1 58413 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices TA Recipient will be rated, among other elements, on its plan to meet the CDFI certification goal specified in its previous Assistance Agreement. The CDFI Fund will score each part as indicated in Table 12 and 13. TABLE 12—FA & TA APPLICATION SCORING CRITERIA FA Applicants (points) TA Applicants (points) Executive Summary ................................................................................................................................................. Purpose/Proposal .................................................................................................................................................... Products ................................................................................................................................................................... Policies ..................................................................................................................................................................... People ...................................................................................................................................................................... Partnerships ............................................................................................................................................................. Performance ............................................................................................................................................................ Projections ............................................................................................................................................................... Not Scored 10 10 10 10 10 40 10 Not Scored 15 10 10 15 5 30 15 Total Points ....................................................................................................................................................... 100 100 FA & TA narrative sections TABLE 13—HFFI–FA APPLICATION SCORING CRITERIA HFFI–FA Applicants (points) HFFI–FA Narrative sections H1. HFFI Target Market Profile ..................................................................................................................................................... H2. Healthy Food Financial Products ............................................................................................................................................ H3. Healthy Food Development Services ..................................................................................................................................... H4. Projected HFFI–FA Activities .................................................................................................................................................. H5, H6, and H7. HFFI Track Record, Management Capacity for Providing Healthy Food Financing, Healthy Food Financing Outcomes ................................................................................................................................................................................... 4 5 2 7 Total Points ............................................................................................................................................................................. 25 The CDFI Fund will deduct points, in accordance with the following table, from Applicants that have received 7 prior awards under any CDFI Fund program: TABLE 14—POINT DEDUCTIONS Issues Descriptions Failure to meet Agreement requirements The CDFI Fund will deduct points from any Applicant that has not met requirements in any previously executed CDFI Fund award agreement(s) including compliance reports due 24 months prior to the Application deadline. The CDFI Fund will deduct points from any Applicant that has failed to submit one or more timely loan payments to the CDFI Fund within the 24 months prior to the Application deadline. The CDFI Fund will deduct points from any Applicant if any CDFI Fund award funds were de-obligated within the 12 months prior to the Application deadline for any reason other than insufficient matching funds. Points will not be deducted for any de-obligations that resulted from a Recipient’s inability to provide eligible matching funds within the specified time frame. Failure to provide timely loan payments tkelley on DSK3SPTVN1PROD with NOTICES Incurred de-obligations ............................ 2. Review and Selection Process. All Applications will be initially evaluated by external non-Federal reviewers who are selected based on criteria that includes: A professional background in community and economic development finance; experience reviewing financial statements of all CDFI institution types; and experience performing underwriting of community and economic development projects. Reviewers must complete the CDFI Fund’s conflict of interest process and be approved by the CDFI Fund. The CDFI Fund’s application reader conflict VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 of interest policy is located on the CDFI Fund’s Web site. TA Applications will be evaluated by one external reviewer; FA and HFFI–FA Applications will be evaluated by three external reviewers. All Applications will be reviewed in accordance with reviewer evaluation materials. Applications will be ranked based on Application scores, from highest to lowest. In the case of tied scores, Applicants will be ranked first according to each Performance score, then the Purpose section. TA Applicants, Category I, Category II, and PO 00000 Frm 00101 Fmt 4703 Sfmt 4703 HFFI–FA Applicants will be grouped and ranked separately. 3. Programmatic and Financial Risk Analysis. The CDFI Fund conducts three additional levels of due diligence for Applications that are in scoring contention for an award. This due diligence includes an analysis of programmatic and financial risk factors including, but not limited to: Financial stability; quality of management systems and ability to meet award management standards; history of performance in managing Federal awards (including timeliness of reporting and compliance); reports and findings from audits; and E:\FR\FM\29SEN1.SGM 29SEN1 tkelley on DSK3SPTVN1PROD with NOTICES 58414 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices the Applicant’s ability to effectively implement Federal requirements. Award amounts may be reduced as a result of this analysis. In addition, for FA awards, the CDFI Fund may reduce awards sizes from requested amounts based on certain variables, including an Applicant’s loan disbursement activity, total portfolio outstanding, and similar factors. Lastly, the CDFI Fund may consider the institutional diversity of Applicants when making its funding decisions. 4. Insured Depository Institutions: The CDFI Fund will consider safety and soundness information from the Appropriate Federal or State Banking Agency. If the Applicant is a CDFI Depository Institution Holding Company, the CDFI Fund will consider information provided by the Appropriate Federal or State Banking Agencies on the CDFI Depository Institution Holding Company and the CDFI Certified Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal Banking Agency or Appropriate State Agency identifies safety and soundness concerns, the CDFI Fund will assess whether the concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested. 5. Non-Regulated Institutions: In accordance with the CDFI Program’s authorizing statute and regulations, the CDFI Fund must ensure, to the maximum extent practicable, that recipients that are non-regulated CDFIs are financially and managerially sound and maintain appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). Further, the CDFI Fund must determine that an Applicant’s capacity to operate as a CDFI will not be dependent upon assistance from the CDFI Fund for continued viability (12 U.S.C. 4704(b)(2)(A)). If it is determined the Applicant is incapable of meeting these requirements, the CDFI Fund reserves the right to deem the Applicant ineligible or terminate the award. 6. Anticipated Award Announcement: The CDFI Fund anticipates making CDFI Program award announcements by September 30, 2015. 7. Application Rejection: The CDFI Fund reserves the right to reject an Application if information (including administrative error) comes to the CDFI Fund’s attention that either: Adversely affects an Applicant’s eligibility for an VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 award; adversely affects the Recipient’s certification as a CDFI (to the extent that the award is conditional upon CDFI certification); adversely affects the CDFI Fund’s evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicant’s part. If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures, if the CDFI Fund deems it appropriate. If the changes materially affect the CDFI Fund’s award decisions, the CDFI Fund will provide information about the changes through its Web site. The CDFI Fund’s award decisions are final and there is no right to appeal the decisions. VI. Federal Award Administration Information A. Award Notification: Each successful Applicant will receive an email ‘‘notice of award’’ notification from the CDFI Fund stating that its Application has been approved for an award. Each Applicant not selected for an award will receive an email stating that a debriefing notice has been provided in its MyCDFI Fund account. B. Assistance Agreement: Each Applicant selected to receive an award must enter into an Assistance Agreement with the CDFI Fund in order to receive a disbursement(s). The Assistance Agreement will set forth the award’s terms and conditions, including but not be limited to the: (i) Award amount; (ii) award type; (iii) award uses; (iv) Target Market(s) or activities; (v) performance goals and measures; and (vi) reporting requirements. FA Assistance Agreements have three-year periods of performance; TA Assistance Agreements have two-year periods of performance. 1. Certificate of Good Standing: All FA and TA Recipients that are not Insured Depository Institutions will be required to provide the CDFI Fund with a certificate of good standing from the secretary of state for the Recipient’s State of incorporation prior to closing. This certificate can often be acquired online on the secretary of state Web site for the Recipient’s State of incorporation and must generally be dated within 270 days before the date the Recipient executes the Assistance Agreement. Due to potential backlogs in State PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 government offices, Applicants are advised to submit requests for certificates of good standing no later than 60 days after they submit their Applications. 2. Closing: Pursuant to the Assistance Agreement, there will be an initial closing at which point the Assistance Agreement and related documents will be properly executed and delivered, and an initial payment of FA or TA may be made. The CDFI Fund will minimize the time between the Recipient incurring costs for eligible activities and award payment based on what is administratively feasible. The advanced payments for eligible activities will occur no more than one year in advance of the Recipient incurring costs for the eligible activities. Following the initial closing, there may be subsequent closings involving additional award payments. Any documents in addition to the Assistant Agreement that are connected with such subsequent closings and payments shall be properly executed and timely delivered by the Recipient to the CDFI Fund. 3. Requirements Prior To Entering Into an Assistance Agreement: If, prior to entering into an Assistance Agreement, information (including administrative error) comes to the CDFI Fund’s attention that: Adversely affects the Recipient’s eligibility for an award; the Recipient’s certification as a CDFI (to the extent that the award is conditional upon CDFI certification); the CDFI Fund’s evaluation of the Application evaluation; the Recipient is not in compliance with any requirement listed the Uniform Federal Award Requirements; or indicates fraud or mismanagement on the Recipient’s part, the CDFI Fund may, in its discretion and without advance notice to the Recipient, terminate the award or take such other actions as it deems appropriate. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to return the Assistance Agreement, signed by the authorized representative of the Recipient, and/or provide the CDFI Fund with any other requested documentation, within the CDFI Fund’s deadlines. In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA pending the criteria described in the following table: E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices 58415 TABLE 15—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT Requirement Criteria Failure to meet reporting requirements ... • If a Recipient received a prior award under any CDFI Fund program and is not current with the reporting requirements in the previously executed agreement(s), the CDFI Fund can delay entering into an Assistance Agreement or disbursing an award until reporting requirements are met. • If such a Recipient is unable to meet the requirement within the timeframe specified, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • The automated systems the CDFI Fund uses only acknowledge a report’s receipt, not a determination of meeting reporting requirements. • An FA Recipient must be a Certified CDFI prior to entering into an Assistance Agreement. • If an FA Recipient fails to maintain CDFI Certification, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. • The CDFI Fund will delay entering into an Assistance Agreement with a Recipient that has pending noncompliance issues if the CDFI Fund has not yet made a final determination as to whether the Recipient is in default of its previously executed award agreement(s). • If the Recipient is unable to satisfactorily resolve the compliance issues, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • If, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that an Recipient is in default of a previously executed agreement with the CDFI Fund and the Recipient has been provided written notification of such determination, the CDFI Fund can delay entering into an Assistance Agreement, until the Recipient has cured the default by taking actions the CDFI Fund has specified within the specified timeframe. • If the Recipient is unable to meet the cure requirement within the specified timeframe, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. If the CDFI Fund has found the Recipient in final default of a prior executed agreement and provided notification of sanctions, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA within the time period specified in such notification. If prior to entering into an Assistance Agreement under this NOFA, the Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. • The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. • The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient is identified as an ineligible recipient on the Do Not Pay database. • If it is determined the Recipient is or will be incapable of meeting its award obligations, the CDFI Fund will deem the Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Assistance Agreement. Failure to maintain CDFI Certification ..... Pending resolution of noncompliance ..... Default status ........................................... Final Default and sanctions ..................... Compliance with Federal civil rights requirements. Do Not Pay .............................................. Safety and soundness ............................. C. Reporting: 1. Reporting requirements: On an annual basis for the period of performance, the CDFI Fund may collect information from each Recipient including, but not limited to, an Annual Report with the following components: TABLE 16—ANNUAL REPORTING REQUIREMENTS Single Audit Narrative Report (or like report). Single Audit (if applicable) (or similar report). Institution Level Report (ILR) .................. tkelley on DSK3SPTVN1PROD with NOTICES Transaction Level Report (TLR) .............. Federal Financial Report/OMB Standard Form 425. VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 The Recipient must submit, via MyCDFI Fund, a Single Audit Narrative Report for each year of its period of performance notifying the CDFI Fund whether it is required to have a single audit pursuant to OMB Single Audit requirements. If a Recipient is required to complete a Single Audit Report, it should be submitted to the Federal Audit Clearinghouse see 2 CFR Subpart F-Audit Requirements in the Uniform Federal Award Requirements. For-profit Recipients will be required to complete and submit a similar report directly to the CDFI Fund. The ILR is a report used to collect compliance and performance data from CDFI Fund award Recipients. The ILR is submitted through the Community Investment Impact System (CIIS) and captures organizational information, financial position, lending and investing activities, community development outputs, and development services. The TLR is a report used to collect compliance and performance data from CDFI Fund award Recipients. The TLR is submitted through the CIIS and captures data on each individual loan and investment in the award Recipient’s portfolio. • For CDFI Depository Institution Holding Company award Recipients, the TLR captures data on the individual loans and investments by its CDFI Subsidiary Insured Depository Institution’s portfolio. • TLR is not required for TA Recipients. If the Recipient receives a TA award, it must submit the Federal Financial Report/OMB Standard Form 425 via MyCDFI Fund. PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 58416 Federal Register / Vol. 79, No. 188 / Monday, September 29, 2014 / Notices TABLE 16—ANNUAL REPORTING REQUIREMENTS—Continued Uses of Financial Assistance Report ...... Explanation of Noncompliance (as applicable) or successor report. Uses of Technical Assistance Report ..... If the Recipient receives an FA award, it must submit the Uses of Financial Assistance Report via MyCDFI Fund. If the Recipient fails to meet a Performance Goal, it must submit the Explanation of Noncompliance via MyCDFI Fund. If the Recipient receives a TA award, it must submit the Uses of Technical Assistance Report via MyCDFI Fund. Each Recipient is responsible for the timely and complete submission of the Annual Reporting requirements. The CDFI Fund reserves the right to contact the Recipient and additional entities or signatories to the Assistance Agreement to request additional information and documentation. The CDFI Fund will use such information to monitor each Recipient’s compliance with the requirements in the Assistance Agreement and to assess the impact of the CDFI Program. The CDFI Fund reserves the right, in its sole discretion, to modify these reporting requirements if it determines it to be appropriate and necessary; however, such reporting requirements will be modified only after notice to Recipients. 2. Financial Management and Accounting: The CDFI Fund will require Recipients to maintain financial management and accounting systems that comply with Federal statutes, regulations, and the terms and conditions of the Federal award. These systems must be sufficient to permit the preparation of reports required by general and program specific terms and conditions, including the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal statutes, regulations, and the terms and conditions of the Federal award. The cost principles used by Recipients must be consistent with Federal cost principles and support the accumulation of costs as required by the principles, and must provide for adequate documentation to support costs charged to the CDFI Program award. In addition, the CDFI Fund will require Recipients to: Maintain effective internal controls; comply with applicable statutes, regulations, and the Assistance Agreement; evaluate and monitor compliance; take action when not in compliance; and safeguard personally identifiable information. VII. Agency Contacts A. The CDFI Fund will respond to questions concerning this NOFA and the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern Time, starting on the date that the NOFA is published through the date listed in Table 1 and Table 11. The CDFI Fund will post on its Web site responses to reoccurring questions received about this Application. Other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund’s Web site at https:// www.cdfifund.gov. Table 17 lists CDFI Fund contact information: TABLE 17—CONTACT INFORMATION Telephone number (not toll free) CDFI Program .................................................................................. Certification, Compliance Monitoring, and Evaluation ..................... MyCDFI Fund—IT Help Desk .......................................................... tkelley on DSK3SPTVN1PROD with NOTICES Type of question 202–653–0421, option 1 .............................. 202–653–0423 ............................................. 202–653–0422 ............................................. B. Information Technology Support: People who have visual or mobility impairments that prevent them from using the CDFI Fund’s Web site should call (202) 653–0422 for assistance (this is not a toll free number). C. Communication with the CDFI Fund: The CDFI Fund will use contact information in MyCDFI Fund to communicate with Applicants and Recipients. It is imperative, therefore, that Applicants, Recipients, Subsidiaries, Affiliates, and signatories maintain accurate contact information in their accounts. This includes information such as contact names (especially for the authorized representative) listed in this NOFA’s application materials, email addresses, fax and phone numbers, and office locations. D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services from CDFI Fund or Recipients under any of its programs is entitled to those benefits or services VerDate Sep<11>2014 16:44 Sep 26, 2014 Jkt 232001 Email addresses cdfihelp@cdfi.treas.gov. ccme@cdfi.treas.gov. IThelpdesk@cdfi.treas.gov. without being subject to prohibited discrimination. The Department of the Treasury’s Office of Civil Rights and Diversity enforces various Federal statutes and regulations that prohibit discrimination in financially assisted and conducted programs and activities of the CDFI Fund. If a person believes that s/he has been subjected to discrimination and/or reprisal because of membership in a protected group, s/ he may file a complaint with: Associate Chief Human Capital Officer, Office of Civil Rights, and Diversity, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or (202) 622–1160 (not a tollfree number). number. If applicable, the CDFI Fund may inform Applicants that they do not need to provide certain Application information otherwise required. Pursuant to the Paperwork Reduction Act, the CDFI Program, and NACA Program Application has been assigned the following control number: 1559– 0021. B. Application Information Sessions: The CDFI Fund may conduct webinars or host information sessions for organizations that are considering applying to, or are interested in learning about, the CDFI Fund’s programs. For further information, please visit the CDFI Fund’s Web site at https:// www.cdfifund.gov. VIII. Other Information Authority: 12 U.S.C. 4701, et seq; 12 CFR parts 1805 and 1815; 2 CFR part 200. A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an agency may not conduct or sponsor a collection of information, and an individual is not required to respond to a collection of information, unless it displays a valid OMB control PO 00000 Frm 00104 Fmt 4703 Sfmt 9990 Dated: September 23, 2014. Dennis Nolan, Deputy Director, Community Development Financial Institutions Fund. [FR Doc. 2014–23060 Filed 9–26–14; 8:45 am] BILLING CODE 4810–70–P E:\FR\FM\29SEN1.SGM 29SEN1

Agencies

[Federal Register Volume 79, Number 188 (Monday, September 29, 2014)]
[Notices]
[Pages 58404-58416]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-23060]

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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Funding Opportunity Title: Notice of Funds Availability (NOFA)
Inviting Applications for Financial Assistance (FA) Awards or Technical
Assistance (TA) Grants Under the Community Development Financial
Institutions Program (CDFI Program) FY 2015 Funding Round

Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2015-FATA
Catalog Of Federal Domestic Assistance (CFDA) Number: 21.020

KEY DATES:

Table 1--FY 2015 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Time (Eastern daylight
Description Deadline time-EDT) Submission method
----------------------------------------------------------------------------------------------------------------
CDFI Certification Applications...... October 24, 2014....... 5:00 p.m. EDT.......... MyCDFI Fund.
Last day to contact CDFI Program November 20, 2014...... 5:00 p.m. EDT.......... CDFI Fund Helpdesk: 202-
staff. 653-0421 or
cdfihelp@cdfi.treas.gov.
CDFI Program Application for November 24, 2014...... 11:59 p.m. EDT......... Electronically via
Financial Assistance (FA) or Grants.gov.
Technical Assistance (TA).
----------------------------------------------------------------------------------------------------------------

Executive Summary: Through the CDFI Program, the CDFI Fund provides
(i) FA awards of up to $2 million to Certified Community Development
Financial Institutions (CDFIs) to build their financial capacity to
lend to their Target Markets, and (ii) TA grants of up to $125,000 to
build Certified, Certifiable, and Emerging CDFIs' organizational
capacity to serve their Target Markets. All awards provided through
this NOFA are subject to funding availability.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development Banking and Financial Institutions Act of 1994 to promote
economic revitalization and community development through investment in
and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has
awarded over $1.9 billion to CDFIs, community development
organizations, and financial institutions through the Community
Development Financial Institutions Program (CDFI Program), the Native
American CDFI Assistance Program (NACA Program), the Bank Enterprise
Award Program (BEA Program), the Capital Magnet Fund, and the Financial
Education and Counseling Pilot Program. In addition, the CDFI Fund has
allocated $40 billion in tax credit allocation authority through the
New Markets Tax Credit Program (NMTC Program) and has obligated $325
million in bond guarantees to Eligible CDFIs through the CDFI Bond
Guarantee Program.
B. Priorities: Through the CDFI Program's FA awards and TA grants,
the CDFI Fund invests in and builds the capacity of for-profit and non-
profit community based lending organizations known as Community
Development Financial Institutions, or CDFIs. These organizations,
Certified as CDFIs by the CDFI Fund, serve rural and urban low-income
people and communities across the nation that lack adequate access to
affordable financial products and services.
C. Authorizing Statutes and Regulations: The CDFI Program is
authorized by the Riegle Community Development Banking and Financial
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.). The
regulations governing the CDFI Program are found at 12 CFR Parts 1805
and 1815 (the Regulations) and set forth evaluation criteria and other
program requirements. The CDFI Fund encourages Applicants to review the
Regulations, this NOFA, the Application, and the Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal
Awards (2 CFR Part 200; 78 FR 78590) (Uniform Federal Award
Requirements) for a complete understanding of the program; capitalized
terms in this NOFA are defined in the authorizing statute, the
Regulations, this NOFA, the Application, and the Uniform Federal Award
Requirements. Details regarding Application content requirements are
found in the Application and related materials.
D. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR Part 200): In December 2013, the
Office of Management and Budget (OMB) published a final rule that
provides a government-wide framework for grants management, with the
goal of combining several OMB guidance circulars, reducing
administrative burden for Recipients, and reducing the risk of waste,
fraud and abuse of Federal financial assistance. The Uniform Federal
Award Requirements codifies financial, administrative, procurement, and
program management standards that Federal award agencies must

[[Page 58405]]

follow. When evaluating award applications, awarding agencies must
evaluate the risks to the program posed by each applicant, and each
applicant's merits and eligibility. These requirements are designed to
ensure that applicants for Federal assistance receive a fair and
consistent review prior to an award decision. This review will assess
items such as the Applicant's financial stability, quality of
management systems, history of performance, and single audit findings.
In addition, the Uniform Federal Award Requirements includes guidance
on audit requirements and other award requirements that award
Recipients must comply with.
E. Funding limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA. The CDFI Fund also reserves the right to
reallocate funds from the amount that is anticipated to be available
through this NOFA to other CDFI Fund programs, particularly if the CDFI
Fund determines that the number of awards made through this NOFA is
fewer than projected.

II. Federal Award Information

A. Funding Availability:
1. FY 2015 Funding Round: Subject to funding availability, the CDFI
Fund expects to award, through this NOFA, approximately $186 million as
indicated in the following table:

Table 2--FY 2015 Funding Round Anticipated Category Amounts
----------------------------------------------------------------------------------------------------------------
Estimated Award amount
Funding categories (See total amount -------------------------------- Estimated Average amount
definition in Table 7) to be awarded number of awarded in FY
(millions) Minimum Maximum awards 2013
----------------------------------------------------------------------------------------------------------------
FA: Category I/Small and/or $19 $100,000 $700,000 40 $400,000
Emerging CDFI Assistance (SECA)
FA: Category II/Core............ 128 100,000 2,000,000 110 1,250,000
TA.............................. 4 10,000 125,000 40 67,500
Healthy Food Financing 35 500,000 5,000,000 13 2,750,000
Initiative--Financial
Assistance (HFFI-FA) *.........
-------------------------------------------------------------------------------
Total....................... 186 .............. .............. 203
----------------------------------------------------------------------------------------------------------------
* HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

The CDFI Fund reserves the right to award more or less than the
amounts cited above in each category, based upon available funding and
other factors, as appropriate.
2. Funding Availability for the FY 2015 Funding Round: Funds for
the FY 2015 Funding Round have not yet been appropriated; if Congress
does not appropriate funds for the CDFI Program, there will not be a FY
2015 Funding Round. If funds are appropriated, the amount of such funds
may be greater or less than the amounts set forth above. In the event
that funds are not appropriated for the NACA Program, CDFIs that
qualify for NACA Program awards are encouraged to apply for CDFI
Program awards through this NOFA. The CDFI Fund reserves the right to
contact applicants to seek additional information in the event that the
final FY 2015 appropriations for the CDFI Program change any of the
requirements in this NOFA.
3. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2015 Funding Round
will begin in the fall of calendar year 2015. Specifically, the period
of performance for TA grants begins with the date of the notice of the
award and includes an award Recipient's two full consecutive fiscal
years after the date of the notice of the award, during which the
Recipient must meet the performance goals set forth in the Assistance
Agreement. The period of performance for FA awards includes an award
Recipient's three full consecutive fiscal years after the date of the
notice of the award, during which time the Recipient must meet its
performance goals.
B. Types of Awards: Through the CDFI Program, the CDFI Fund
provides two types of awards: Financial Assistance (FA) and Technical
Assistance (TA) awards. An Applicant may submit an Application for a TA
grant or an FA award, but not both.
1. FA Awards: FA awards can be in the form of loans, grants, Equity
Investments, and deposits and credit union shares. The form of the FA
award is based on the form of the matching funds that the Applicant
includes in its Application, unless Congress waives the matching funds
requirement. Matching funds are required for FA awards, must be from
non-Federal sources, and cannot have been used as matching funds for
any other Federal award. The CDFI Fund reserves the right, in its sole
discretion, to provide an FA award in an amount other than that which
the Applicant requests; however, the award amount will not exceed the
Applicant's award request as stated in its Application.
2. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to FA
awards; therefore, only those Applicants that have been selected to
receive an FA award through the CDFI Program FY 2015 Funding Round will
be eligible to receive an HFFI-FA award. HFFI-FA awards can be in the
form of loans, grants, Equity Investments, and deposits and credit
union shares. The form of the HFFI-FA award is based on the form of the
matching funds that the Applicant includes in its Application, unless
Congress waives the matching funds requirement. Matching funds are
required for HFFI-FA awards, must be from non-Federal sources, and
cannot have been used as matching funds for any other Federal award.
The CDFI Fund reserves the right, in its sole discretion, to provide an
HFFI-FA award in an amount other than that which the Applicant
requests; however, the award amount will not exceed the Applicant's
award request as stated in its Application.
3. TA Grants: TA is provided in the form of grants. The CDFI Fund
reserves the right, in its sole discretion, to provide a TA grant in an
amount other than which the Applicant requests; however, the TA grant
amount will not exceed the Applicant's request as stated in its
Application and the applicable budget chart.
C. Eligible Activities:
1. FA Awards:
FA and HFFI-FA award funds can be expended for activities in the
following five categories: (i) Financial Products; (ii) Financial
Services; (iii) Loan Loss Reserves; (iv) Development Services;

[[Page 58406]]

and (v) Capital Reserves. Each of the allowable activity categories
will be eligible for indirect costs and an associated indirect cost
rate. Indirect cost rates will be determined as part of the terms and
conditions of the award. For purposes of this NOFA, the five activity
categories are defined as follows:

Table 3--FA and HFFI-FA Eligible Activity Categories
------------------------------------------------------------------------
FA Activity Eligible CDFI
FA Activity definition Institution types
------------------------------------------------------------------------
i. Financial Products........... FA expended as All.
loans, Equity
Investments and
similar financing
activities (as
determined by the
CDFI Fund)
including the
purchase of loans
originated by
Certified CDFIs
and the provision
of loan
guarantees; in
the case of CDFI
Intermediaries,
grants to CDFIs
and/or emerging
CDFIs and
deposits in
Insured Credit
Union CDFIs,
emerging Insured
Credit Union
CDFIs, and/or
State-Insured
Credit Union
CDFIs.
ii. Financial Services.......... FA expended for Insured Depository
the provision of Institutions
checking and only.
savings accounts,
certified checks,
automated teller
machines
services, deposit
taking,
remittances, safe
deposit box
services, and
other similar
services.
iii. Loan Loss Reserves......... FA set aside in All.
the form of cash
reserves, or
through
accounting-based
accrual reserves,
to cover losses
on loans,
accounts, and
notes receivable
made in the
Applicant's
Target Market, or
for related
purposes that the
CDFI Fund deems
appropriate.
iv. Development Services........ FA expended for All.
activities that
promote community
development and
are integral to
the Applicant's
provision of
Financial
Products and
Financial
Services. Such
services that
shall prepare or
assist current or
potential
borrowers or
investees to
utilize the
Financial
Products or
Financial
Services of the
Applicant.
v. Capital Reserves............. FA set aside as Insured Depository
reserves to Institutions
support the only.
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
as the CDFI Fund
deems appropriate.
------------------------------------------------------------------------

2. TA Grants:
TA grant funds can be expended for the following seven eligible
activity categories: (i) Compensation--personal services; (ii)
Compensation--fringe benefits; (iii) Professional Service Costs; (iv)
Travel Costs; (v) Training and Education Costs; (vi) Equipment and
other capital expenditures; and (vii) Supplies. Each of the allowable
activity categories will be eligible for indirect costs and an
associated indirect cost rate. Indirect cost rates will be determined
as part of the terms and conditions of the award. For purposes of this
NOFA, the seven activity categories are defined as follows:

Table 4--TA Eligible Activity Categories
------------------------------------------------------------------------

------------------------------------------------------------------------
(i) Compensation--personal services.. TA paid to cover salaries of the
Applicant's personnel that are
paid currently or accrued by the
Applicant for work performed
directly related to carrying out
the purpose of the TA grant
(including activities related to
becoming certified as a CDFI),
subject to the applicable
provisions of the Uniform
Federal Award Requirements.
(ii) Compensation--fringe benefits... TA paid to cover costs of the
Applicant's personnel employment
(other than the employees'
salaries income) in proportion
to the salary charged to the TA
grant, to the extent that such
payments are made under formally
established and consistently
applied organizational policies,
subject to the applicable
provisions of the Uniform
Federal Award Requirements.
(iii) Professional service costs..... TA used to pay for professional
and consultant services rendered
by persons who are members of a
particular profession or possess
a special skill, and who are not
officers or employees of the
Recipient, subject to the
applicable provisions of the
Uniform Federal Award
Requirements. Payment for a
consultant's services may not
exceed the daily equivalent of
the current maximum rate paid to
an Executive Schedule Level IV
Federal employee.
(iv) Travel costs.................... TA used to pay expenses for
transportation, lodging,
subsistence, and related items
incurred by the Applicant's
personnel who are on travel
status on business related to
the TA grant, subject to the
applicable provisions of the
Uniform Federal Award
Requirements.
(v) Training and education costs..... TA used to pay the cost of
training and education provided
for employee development,
subject to the applicable
provisions of the Uniform
Federal Award Requirements.
(vi) Equipment....................... TA used to pay for tangible
personal property, having a
useful life of more than one
year and a per-unit acquisition
cost of at least $5,000 and
subject to the applicable
provisions of the Uniform
Federal Award Requirements.
Examples include office
equipment, furnishings, and
information technology equipment
and systems.
(vii) Supplies....................... TA used to pay for tangible
personal property with a per
unit acquisition of less than
$5,000 and subject to the
applicable provisions of the
Uniform Federal Award
Requirements.
------------------------------------------------------------------------

[[Page 58407]]

III. Eligibility Information

A. Eligible Applicants: For the purposes of this NOFA, the
following tables set forth the eligibility criteria to receive an award
from the CDFI Fund, along with certain definitions of terms. There are
four categories of Applicant eligibility criteria: (1) CDFI
certification criteria (Table 5); (2) requirements that apply to all
Applicants (Table 6); (3) requirements that apply to TA Applicants
(Table 7); and (4) requirements that apply to FA Applicants (Table 8).

Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------

------------------------------------------------------------------------
Certified CDFI....................... An entity that the CDFI
Fund has officially notified
that it meets all CDFI
certification requirements.
Certifiable CDFI..................... An entity that has
submitted a CDFI Certification
Application to the CDFI Fund
demonstrating that it meets the
CDFI certification requirements
but which has not yet been
officially certified.
The CDFI Fund will not
enter into an Assistance
Agreement or disburse FA award
funds unless and until an
Applicant is Certified CDFI.
Emerging CDFI........................ A non-Certified entity
that has not submitted a CDFI
Certification Application but
demonstrates to the CDFI Fund
that it has an acceptable plan
to meet certification
requirements by the end of its
period of performance, or
another date that the CDFI Fund
selects.
An Emerging CDFI that
has prior award(s) will be held
to the CDFI certification
performance goal and measure(s)
stated in its prior Assistance
Agreement(s).
Emerging CDFIs may only
apply for TA grants; they are
not eligible to apply for FA
awards.
Each Emerging CDFI
selected to receive a TA grant
will be required to become a
Certified CDFI by a date
specified in the Assistance
Agreement.
------------------------------------------------------------------------

Table 6--Eligibility Requirements for All Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
Applicant............................ Only the entity that
will carry out the proposed
award activities should apply
for an award (e.g., the intended
award Recipient).
An Applicant that
applies on behalf of another
organization will be rejected
without further consideration,
except for Depository
Institution Holding Companies
(see below).
Application type and submission The CDFI Fund will only
overview. accept Applications that use the
official Word Narrative and
Excel Workbook templates
provided on the Grants.gov and
CDFI Fund Web sites.
Applications submitted
with alternative or altered
templates will not be
considered.
Only Applications
submitted via the Grants.gov Web
site will be accepted for
review.
Microsoft Word Narrative Template.... Each Applicant must
submit a completed Microsoft
Word Narrative Template.
An Applicant that does
not submit a completed Narrative
Template will be rejected
without further consideration.
Microsoft Excel Workbook............. Each Applicant must
submit a completed Microsoft
Excel Workbook template.
An Applicant that does
not submit a completed Microsoft
Excel Workbook template will be
rejected without further
consideration.
Employer Identification Number (EIN). An Applicant must
provide an electronic copy of
the letter from the IRS as
evidence that the Applicant has
been assigned its own unique
EIN.
The CDFI Fund will
reject an Application submitted
with the EIN of a parent or
Affiliate organization.
The CDFI Fund will deem
an Application incomplete if it
does not include an IRS document
that verifies the Applicant's
EIN (a tax return is not an
acceptable form of IRS
documentation). The CDFI Fund
will allow an Applicant two
business days upon request by
the CDFI Fund to submit the
appropriate documentation before
the Application will be rejected
without further consideration
due to missing documentation of
the Applicant's EIN.
DUNS number.......................... Pursuant to OMB guidance
(68 FR 38402), an Applicant must
apply using its unique DUNS
number in Grants.gov.
The CDFI Fund will
reject an Application submitted
with the DUNS number of a parent
or Affiliate organization.
MyCDFI Fund account.................. Each Applicant must
register as an organization in
MyCDFI Fund by the Application
deadline.
The Authorized
Representative and/or
Application point of contact
must be included as ``users'' in
the Applicant's MyCDFI Fund
account.
An Applicant that fails
to properly register and update
its MyCDFI Fund account may miss
important communication from the
CDFI Fund that could impact its
Application.
The CDFI Fund will allow
an Applicant two business days
upon request by the CDFI Fund to
create or update its MyCDFI Fund
account before the Application
will be rejected without further
consideration.
501(c)(4) status..................... Pursuant to 2 U.S.C.
1611, a 501(c)(4) any
organization that engages in
lobbying activities is not
eligible for the receipt of a
CDFI or NACA Program award.
Compliance with Federal civil rights An Applicant may not be
requirements. eligible to receive an award if
proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination within the last
three years indicates the
Applicant has violated any of
the following laws: Title VI of
the Civil Rights Act of 1964, as
amended (42 U.S.C. 2000d);
Section 504 of the
Rehabilitation Act of 1973 (29
U.S.C. 794); the Age
Discrimination Act of 1975, (42
U.S.C. 6101-6107), and Executive
Order 13166, Improving Access to
Services for Persons with
Limited English Proficiency.
Depository Institution Holding In the case where a CDFI
Company Applicant. Depository Institution Holding
Company Applicant intends to
carry out the activities of an
award through its CDFI
Subsidiary Insured Depository
Institution, the Application
must be submitted by the CDFI
Depository Institution Holding
Company and reflect the
consolidated activities and
financial performance of the
CDFI Subsidiary Insured
Depository Institution.

[[Page 58408]]

Authorized
representatives of both the
Depository Institution Holding
Company and the CDFI Subsidiary
Insured Depository Institution
must certify that the
information included in the
Application represents that of
the CDFI Subsidiary Insured
Depository Institution and that
the award funds will be used to
support the CDFI Subsidiary
Insured Depository Institution
for the eligible activities
outlined in the Application.
Insured CDFI--Insured Credit Union To be eligible for an
and Insured Depository Institution. award, each Insured Depository
Institution Applicant must have
a CAMELS/CAMEL (rating for banks
and credit unions,
respectively), by its Federal
regulator of at least ``4.''
Organizations with
CAMELS/CAMEL ratings of ``5''
will not be eligible for awards.
Use of award......................... All awards made through
this NOFA must be used to
support the Applicant's approved
FA or TA eligible activities
(see Section II.C).
Awards cannot be used to
support the activities of, or
otherwise be passed through,
transferred, or co-awarded to,
third-party entities, whether
Affiliates, Subsidiaries, or
others (except Depository
Institution Holding Company
Applicants.)
Requested award amount for eligible An Applicant must state
activities. its requested award amount and
proposed eligible activities in
the ``Award Request Table'' (Tab
4--Purpose) in the Excel
Workbook.
An Applicant that does
not fully complete the ``Award
Request Table'' will be rejected
without further consideration.
Pending resolution of noncompliance.. The CDFI Fund will
consider an Application
submitted by an Applicant that
has pending noncompliance issues
if the CDFI Fund has not yet
made a final determination as to
whether the Applicant is in
default of any of its previously
executed award agreement(s).
Default status....................... The CDFI Fund will not
consider an Application
submitted by an Applicant that
has been notified by the CDFI
Fund in writing that it is in
default of a previously executed
award agreement under any CDFI
Fund program, at the time of the
Application deadline.
The CDFI Fund will not
consider any Applicant that has
defaulted on a CDFI Program loan
within five years of the
Application deadline.
Undisbursed award funds and An Applicant that has
calculations (general). funds from a prior award that
have not been disbursed, as
defined in (a)-(d) below, as of
the Application deadline will
not be eligible for an award.
(a) The CDFI Fund will include
the combined undisbursed award
funds of the Applicant and its
Affiliates.
(b) Balances on undisbursed
award funds cannot exceed five
percent of the combined BEA
Program awards made to the
Applicant in FYs 2011, 2012, and
2013.
(c) Balances on undisbursed
award funds cannot exceed five
percent of the combined CDFI/
NACA Program awards made to the
Applicant in FYs 2011, 2012, and
2013.
(d) The undisbursed award funds
calculation does not include
award funds for: (i) Which the
Recipient has submitted a full
and complete disbursement
request before the Application
deadline; (ii) an award that has
been terminated or de-obligated;
or (iii) an award that does not
have a fully executed award
agreement; and (iv) the tax
credit allocation authority made
available through the NMTC
Program.
------------------------------------------------------------------------

Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
CDFI certification status............ (1) Certifiable or Emerging CDFIs
(see definitions in Table 5), or
(2) Certified CDFIs (see Table 5)
that meet the SECA criteria (see
Table 8).
Matching funds....................... Matching funds
documentation is not required
for TA awards.
------------------------------------------------------------------------

Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
CDFI certification status............ Each FA Applicant must
be a Certified CDFI prior to the
announcement of award decisions.
An Applicant that is in
a cure period to remedy CDFI
recertification deficiencies at
the time of award announcements
will not be eligible for an FA
award under this NOFA.
Matching funds documentation......... All Applicants must
submit acceptable documentation
that they have received or will
receive matching funds.
Applications that do not submit
acceptable matching funds
documentation will not be
evaluated.
Award size will be
limited to no more than two
times the amount of In-Hand or
Committed matching funds
documentation provided at the
time of Application, but actual
award size may be less than this
amount. Awards will be obligated
in like form to the matching
funds provided.
Award payments from the
CDFI Fund will require eligible
dollar-for-dollar In-Hand
matching funds for the total
payment amount.
Any award Recipient that
is not able to demonstrate
dollar-for-dollar matching funds
by the end of the Matching Funds
Window will have its award
amount reduced and the
corresponding funds will be de-
obligated.
$5 Million funding cap............... The CDFI Fund is
prohibited from obligating more
than $5 million in CDFI and NACA
Program awards, in the
aggregate, to any one
organization and its
Subsidiaries and Affiliates
during any three-year period.
The CDFI Fund will make
FY 2015 funding round award
announcements on or after August
7, 2015; the CDFI Fund will
include awards in the cap
calculation that were provided
to an Applicant (and its
Subsidiaries and Affiliates)
under the FY 2013 and 2014
funding rounds, as well as the
requested FY 2015 award,
excluding HFFI-FA awards.
FA Category I (SECA)................. To be an eligible SECA
Applicant, an Applicant must
meet the following criteria:
(1) Be a Certified or Certifiable
CDFI;
(2) Request $700,000 or less in
FA funds; and either

[[Page 58409]]

(3) Have total assets * as of the
end of the Applicant's most
recent fiscal year end in the
following amounts:
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
(4) Have begun operations ** on
or after January 1, 2011
* ``Total assets'' is defined as
the Total Assets of Fiscal Year
End Date field stated in the
CDFI Program Applicant Intake
Form.
** ``Have begun operations'' is
defined as the financing
activity start date indicated in
the Applicant's MyCDFI Fund
account.
FA Category II (Core)................ A Core Applicant must be
either a Certified or
Certifiable CDFI as defined in
Table 5.
An Applicant that meets
the SECA requirements stated
above, that requests more than
$700,000 in award funds is
categorized as an FA Category II
(Core) Applicant, regardless of
its total assets and/or years in
operation.
HFFI-FA.............................. All HFFI-FA Applicants
must:
[cir] Apply for an FA Core or
SECA award;
[cir] Meet all FA award
eligibility requirements; and
[cir] Complete and submit a CDFI/
NACA Program Financial
Assistance Application along
with an HFFI-FA Narrative
Template at the time of
Application.
------------------------------------------------------------------------

B. Matching Funds Requirements: In order to receive an FA award, an
Applicant must provide documentation of eligible dollar-for-dollar
matching funds. The CDFI Fund will review all matching funds
documentation prior to award disbursement and will disburse funds based
upon eligible In-Hand matching funds (see Table 9 for the definition of
In-Hand). The CDFI Fund encourages Applicants to review the Regulations
at 12 CFR 1805.500, the Uniform Federal Award Requirements, and the
matching funds guidance materials in the Excel Workbook, which is
available on the CDFI Fund's Web site and Grants.gov. Table 9 provides
a summary of the matching funds requirements; additional details are
set forth in the Application materials.

Table 9--Matching Funds Requirements
------------------------------------------------------------------------

------------------------------------------------------------------------
Matching funds requirements by The following Applicants must
application type. provide documentation of
acceptable matching funds:
Category 1/SECA FA
Applicants,
Category II/Core FA
Applicants; and
HFFI-FA Applicants.
(upon request) *
TA Applicants are not required to
provide matching funds.
* The matching funds requirement
for HFFI-FA applicants was
waived in the appropriations
bill for FY 2014 and final FY
2015 appropriations are still
pending. HFFI-FA applicants are
not required to submit matching
funds for their HFFI-FA award
request at the time of
application. However, the CDFI
Fund reserves the right to
request matching funds from HFFI-
FA applicants if matching funds
are not waived in the final FY
2015 CDFI Program appropriation.
Amount of required match............. Applicants must submit
documentation of eligible In-
Hand dollar-for-dollar non-
Federal matching funds for every
FA award dollar to be disbursed
by the CDFI Fund.
Determination of award form.......... FA awards will be made in
comparable form and value to the
eligible In-Hand or Committed
matching funds documentation
submitted by the Applicant.
For example, if an FA
Applicant provides documentation
of eligible loan matching funds
for $200,000 and $400,000 of its
matching funds in the form of
grant, the CDFI Fund will
obligate $200,000 of the FA
award as a loan and $400,000 as
a grant.
Matching Funds Window definition..... The Applicant must
receive eligible In-Hand
matching funds between January
1, 2013 and January 15, 2016.
An award Recipient must
provide the CDFI Fund with all
documentation demonstrating the
receipt of matching funds by
January 31, 2016.
Matching funds and form of award..... Recipients will be
approved for a maximum award
size of two times the total
amount of eligible In-Hand or
Committed matching funds
documentation included in the
Application, so long as they do
not exceed the award amount
limit.
The form of the matching
funds documented in the
Application determines the form
of the award.
In-Hand matching funds definition.... Matching funds are
eligible and In-Hand when the
Applicant actually receives
disbursement of the matching
funds and includes acceptable
documentation in the
Application, showing the source,
form (e.g., grant, loan,
deposit, and Equity Investment),
and amount of the matching
funds.
The following
documentation, depending on the
type of award being requested,
must be included in the
Application:
i. loan--the loan agreement and/
or promissory note;
ii. grant--the grant letter or
agreement for all grants of
$50,000 or more;
iii. Equity Investment--the
stock certificate and
shareholder agreement;
iv. retained earnings--audits or
call reports from regulating
entity; and
v. third party in-kind
contribution--evidence of
receipt of contribution and
valuation; and
vi. clearly legible
documentation that demonstrates
receipt of the matching funds
including the date of the
transaction and the amount, such
as a copy of a check or a wire
transfer statement.
The CDFI Fund will only
disburse FA awards that have
eligible In-Hand matching funds,
as determined by the CDFI Fund.

[[Page 58410]]

Committed matching funds definition.. Matching funds are
Committed when the Applicant has
entered into or received a
legally binding commitment from
the matching funds source
showing the matching funds will
be disbursed to the Applicant at
a future date.
The Applicant must
provide to the CDFI Fund
acceptable written documentation
showing the source, form, and
amount of the Committed matching
funds (including, in the case of
a loan, the terms thereof), as
well as the anticipated
disbursement date of the
Committed funds.
Limitations on matching funds........ Matching funds must be
from non-Federal sources.
Applicants cannot
proffer matching funds that were
accepted as matching funds for a
prior FA award under the CDFI
Program or under another Federal
grant or award program.
Matching funds must
comply with Regulations at 12
CFR 1805.500 et seq.
The CDFI Fund will not
consider any FA Application that
does not include any In-Hand or
Committed matching funds
documentation as of the
Application deadline.
Matching funds must be
attributable to at least one of
the five eligible activities
(see Section II.C).
Rights of the CDFI Fund.............. The CDFI Fund reserves
the right to contact the
matching funds source to discuss
the matching funds and the
documentation that the Applicant
has provided.
The CDFI Fund may grant
an extension of the Matching
Funds Window (defined in Table
9), on a case-by-case basis, if
the CDFI Fund deems it
appropriate.
The CDFI Fund reserves
the right to rescind all or a
portion of an FA award and re-
allocate the rescinded award
amount to other qualified
Applicant(s), if an award
Recipient fails to obtain In-
Hand 100 percent of the required
Matching Funds during the
Matching Funds Window.
Matching funds in the form of third- Third party in-kind
party in-kind contributions. contributions are the value of
non-cash contributions (i.e.,
property or services) provided
by non-Federal third parties.
Third party in-kind
contributions will be considered
to be in the form of a grant.
Third party in-kind
contributions may be in the form
of real property, equipment,
supplies, and other expendable
property, and the value of goods
and services directly benefiting
the eligible activities.
For third-party in-kind
contributions, the fair market
value of goods and services must
be documented.
Applicants will be
responsible for documenting the
value of all in-kind
contributions as described in
the Uniform Federal Award
Requirements.
Matching funds in the form of a loan. An FA award made in the
form of a loan will have the
following standardized terms:
A 13-year term with semi-
annual interest-only payments
due in years 1 through 10, and
fully amortizing payments due
each year in years 11 through
13; and
A fixed interest rate of
2.5 percent, which was
calculated by the CDFI Fund
based on the U.S. Department of
the Treasury's 10-year Treasury
note.
The Applicant's matching
funds loan(s) must:
i. have a minimum of a 3-year
term. Loans presented as
matching funds with less than a
3-year term will not qualify as
eligible match; and
ii. not be from a Federal
source.
Ineligible matching funds............ If the CDFI Fund
determines that any portion of
the Applicant's matching funds
is ineligible, the CDFI Fund
will permit the Applicant to
offer documentation of
alternative matching funds as a
substitute for the ineligible
matching funds.
In such instances:
i. the Applicant must provide
acceptable alternative matching
funds documentation within the
period of time specified by the
CDFI Fund, and
ii. the alternative matching
funds documentation will not
increase the total amount of FA
requested.
Use of matching funds from a prior If an Applicant offers matching
CDFI Program Recipient. funds documentation from an
organization that was a prior
Recipient under the CDFI
Program, the Applicant must
prove to the CDFI Fund's
satisfaction that such funds do
not consist, in whole or in
part, of CDFI Program funds or
other Federal funds.
Matching funds in the form of Retained earnings are
retained earnings. eligible for use as matching
funds when the CDFI Fund
calculates an amount equal to:
i. the increase in retained
earnings that occurred over any
one of the Applicant's fiscal
years within the Matching Funds
Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds previously used
for an award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds previously used
for an award; or
iii. any combination of (i) and
(ii) above that does not include
matching funds previously used
for an award.
Retained earnings will
be matched in the form of a
grant.
Special rule for Insured Credit An Insured Credit
Unions. Union's retained earnings are
eligible for use as matching
funds when the CDFI Fund
calculates an amount equal to:
i. the increase in retained
earnings that occurred over any
one of the Applicant's fiscal
years within the Matching Funds
Window, adjusted to remove
revenue from Federal sources and
matching funds previously used
for an award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds previously used
for an award; or
iii. the entire retained
earnings that have been
accumulated since the inception
of the Applicant, as provided in
the Regulations.
If option (iii) is used,
the Applicant must increase its
member and/or non-member shares
and/or total loans outstanding
by an amount equal to the amount
of retained earnings committed
as matching funds.

[[Page 58411]]

This increase will be
measured from March 31, 2015 and
must occur by the end of the
Recipient's Year 1 of
Performance Period, as set forth
in its Assistance Agreement, and
will be based on amounts
reported in the Applicant's
National Credit Union
Administration (NCUA) form 5300
Call Report.
The CDFI Fund will
assess the likelihood of this
increase during the Application
review process.
An award will not be
made to any Applicant that has
not demonstrated in the relevant
financial statements or NCUA
form 5300 Call Report that it
has increased shares and/or
loans by at least 25 percent of
the requested FA award amount
between December 31, 2013, and
December 31, 2014.
The matching funds are
not In-Hand until the Recipient
has increased its member and/or
non-member shares or total loans
outstanding within the time
period specified.
------------------------------------------------------------------------

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials
can be found on Grants.gov and the CDFI Fund's Web site at
www.cdfifund.gov/cdfi. Applicants may request a paper version of any
Application material by contacting the CDFI Fund Help Desk at
cdfihelp@cdfi.treas.gov.
B. Content and Form of Application Submission:
All Applications must be prepared using the English language and
calculations must be made in U.S. dollars. The following table lists
the required Application documents for the FY 2015 Funding Round. The
CDFI Fund reserves the right to request and review other pertinent or
public information that has not been specifically requested in this
NOFA or the Application. Information submitted by the Applicant that
the CDFI Fund has not specifically been requested will not be reviewed
or considered as part of the Application.

Table 10--Required Application Documents
----------------------------------------------------------------------------------------------------------------
Application documents Applicant type Submission format
----------------------------------------------------------------------------------------------------------------
Applicant Intake Form.................. All Applicants............ Fillable PDF
SF-424................................. All Applicants............ Fillable PDF.
IRS Documentation of Organization's EIN New Applicants only....... PDF.
Application Excel Workbook Tab 3--Input All Applicants............ Excel.
Sheet.
Application Excel Workbook Tab 4-- All Applicants............ Excel.
Purpose.
Application Excel Workbook Tab 5-- All Applicants............ Excel.
Products.
Application Excel Workbook Tab 6-- All Applicants............ Excel.
Policies.
Application Excel Workbook Tab 7-- All Applicants............ Excel.
People.
Application Excel Workbook Tab 8-- All Applicants............ Excel.
Partnerships.
Application Excel Workbook Tab 9-- All Applicants............ Excel.
Performance.
Application Excel Workbook Tab 10-- All Applicants............ Excel.
Projections.
Application Excel Workbook Tab 13-- FA Applicants............. Excel.
Matching Funds Breakout Table.
Application Excel Workbook Tab 14-- FA Applicants, if Excel.
Matching Funds Grants under $50,000. applicable.
Matching Funds Documentation........... FA Applicants............. PDF.
Narrative Template..................... All Applicants............ Word document.
HFFI-FA Narrative Template............. HFFI-FA Applicants........ Word document.
Policies and Procedures................ FA Applicants............. PDF.
Key Staff Resumes...................... All Applicants............ PDF or Word document.
Organizational Chart................... All Applicants............ PDF.
Community Partnership Agreement........ All Applicants, if PDF or Word document.
applicable.
Audited Financial Statements, September FA Applicants............. PDF.
30, 2014 Quarter End Financial
Statements, and Call Reports (Insured
Depository Institutions only).
Financial Statements, September 30, TA Applicants............. PDF.
2014 Quarter End Financial Statements,
and Call Reports (Insured Depository
Institutions only).
----------------------------------------------------------------------------------------------------------------

C. Application Submission: All Application documents must be
submitted through the Grants.gov electronic system. The CDFI Fund will
not accept Applications via MyCDFI Fund accounts, email, mail,
facsimile, or other forms of communication, except in extremely rare
circumstances that have been pre-approved by the CDFI Fund.
The CDFI Fund strongly encourages Applicants to start the
Grants.gov registration process as soon as possible (refer to the
following link: https://www.grants.gov/web/grants/register.html) as it
may take several weeks to complete. An Applicant that has previously
registered with Grants.gov must verify that its registration is current
and active. Applicants should contact Grants.gov directly with
questions related to the registration or submittal process as the CDFI
Fund does not maintain the Grants.gov system.
D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to
the Uniform Federal Award Requirements, each Applicant must provide as
part of its Application submission, a Dun and Bradstreet Universal
Numbering System (DUNS) number. Applicants without a DUNS number will
not be able to register and submit an Application in the Grants.gov
system. Please allow sufficient time for Dun & Bradstreet to respond to
inquiries and/or requests for DUNS numbers.
E. System for Award Management (SAM): Any entity applying for
Federal grants or other forms of Federal financial assistance through
Grants.gov must be registered in SAM before submitting its Application.
The SAM registration process can take several weeks to complete.
Applicants that have previously completed the SAM registration process
must verify that

[[Page 58412]]

their SAM accounts are current and active. Each Applicant must continue
to maintain an active SAM registration with current information at all
times during which it has an active Federal award or an Application
under consideration by a Federal awarding agency. The CDFI Fund will
not consider any Applicant that fails to properly register or activate
its SAM account and, as a result, is unable to submit its Application
by the Application deadline. Applicants must contact SAM directly with
questions related to registration or SAM account changes as the CDFI
Fund does not maintain this system. For more information about SAM,
please visit https://www.sam.gov.
F. Submission Dates and Times:
1. Submission Deadlines: The following table provides the critical
deadlines for the FY 2015 Funding Round.

Table 11--FY 2015 Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (EDT) Submission method
----------------------------------------------------------------------------------------------------------------
CDFI Certification Applications...... October 24, 2014....... 5:00 p.m............... MyCDFI Fund: https://www.cdfifund.gov/myCDFI myCDFI.
Last day to contact CDFI Program November 20, 2014...... 5:00 p.m............... CDFI Fund Helpdesk: 202-
staff. 653-0421 or
cdfihelp@cdfi.treas.gov.
CDFI Program Application for November 24, 2014...... 11:59 p.m.............. Electronically via
Financial Assistance (FA) or Grants.gov.
Technical Assistance (TA).
----------------------------------------------------------------------------------------------------------------

2. Confirmation of Application Submission: Each Applicant will
receive an email from Grants.gov immediately after Application
submission confirming that the submission has entered the Grants.gov
system. This email will contain a tracking number for the submitted
Application package. Within 48 hours, the Applicant will receive a
second email which will indicate if the submitted Application package
was either successfully validated or rejected with errors. However,
Applicants should not rely on the email notification from Grants.gov to
confirm that their Applications were validated. Applicants are strongly
encouraged to use the tracking number provided in the first email to
closely monitor the status of their Application package by contacting
the helpdesk at Grants.gov directly. The Application package is not
officially accepted by the CDFI Fund until Grants.gov has validated the
Application.
3. Multiple Application Submissions: If an Applicant submits
multiple Applications, the CDFI Fund will only review the last
Application submitted in Grants.gov.
4. Late Submission: The CDFI Fund will not accept an Application
submitted after the Application deadline except where the submission
delay was a direct result of a Federal government administrative or
technological error. In such case, the Applicant must submit a request
for acceptance of late Application submission and include documentation
of the error no later than two business days after the Application
deadline. The CDFI Fund will not respond to request for acceptance of
late Application submissions after that time period. Applicants must
submit late Application submission requests to the CDFI Helpdesk at
cdfihelp@cdfi.treas.gov with a subject line of ``Late Application
Submission Request.''
G. Funding Restrictions: FA, HFFI-FA and TA awards are limited by
the following:
1. FA awards:
(a) An award Recipient shall use FA funds only for the eligible
activities described in Section II. Award Description (C)(1) of this
NOFA and its Assistance Agreement.
(b) A Recipient may not distribute FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.
(c) FA funds shall only be disbursed to the Recipient.
(d) The CDFI Fund, in its sole discretion, may disburse FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
2. HFFI-FA awards:
(a) An award Recipient shall use HFFI-FA funds only for the
eligible activities described in Section II. Award Description (C)(1)
of this NOFA and its Assistance Agreement.
(b) A Recipient may not distribute FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.
(c) HFFI-FA funds shall only be disbursed to the Recipient.
(d) The CDFI Fund, in its sole discretion, may disburse HFFI-FA
funds in amounts, or under terms and conditions, which are different
from those requested by an Applicant.
3. TA grants:
(a) An award Recipient shall use TA funds only for the eligible
activities described in Section II. Award Description (C)(2) of this
NOFA and its Assistance Agreement.
(b) A Recipient may not distribute TA funds to an Affiliate,
Subsidiary or any other entity, without the CDFI Fund's prior written
consent.
(c) TA funds shall only be disbursed to the Recipient.
(d) The CDFI Fund, in its sole discretion, may disburse TA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.

V. Application Review Information

1. Criteria: If the Applicant has submitted a complete and eligible
Application, the CDFI Fund will conduct a substantive review in
accordance with the criteria and procedures described in the
Regulations, this NOFA, the Application guidance, and the Uniform
Federal Award Requirements. The CDFI Fund reserves the right to contact
the Applicant by telephone, email, or mail for the sole purpose of
clarifying or confirming Application information. If contacted, the
Applicant must respond within the time period communicated by the CDFI
Fund or run the risk that its Application will be rejected.
(a) Application Scoring and Award Selection (FA, HFFI-FA, and TA):
The CDFI Fund will evaluate each Application using the FA and TA
Application Scoring Criteria described in the Application. An Applicant
must receive a minimum 50 percent of the total score for the FA, HFFI-
FA, and TA components in order to be considered for an award. An
Applicant that is an Emerging CDFI and has not received a previous TA
award will be rated, among other elements, on its plan to meet the
requirements of a Certified CDFI within two years of the beginning of
the period of performance. In addition, an Emerging CDFI Applicant that
is a prior

[[Page 58413]]

TA Recipient will be rated, among other elements, on its plan to meet
the CDFI certification goal specified in its previous Assistance
Agreement.
The CDFI Fund will score each part as indicated in Table 12 and 13.

Table 12--FA & TA Application Scoring Criteria
------------------------------------------------------------------------
FA Applicants TA Applicants
FA & TA narrative sections (points) (points)
------------------------------------------------------------------------
Executive Summary....................... Not Scored Not Scored
Purpose/Proposal........................ 10 15
Products................................ 10 10
Policies................................ 10 10
People.................................. 10 15
Partnerships............................ 10 5
Performance............................. 40 30
Projections............................. 10 15
-------------------------------
Total Points........................ 100 100
------------------------------------------------------------------------

Table 13--HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
HFFI-FA
HFFI-FA Narrative sections Applicants
------------------------------------------------------------(points)----
H1. HFFI Target Market Profile....................... 4
H2. Healthy Food Financial Products.................. 5
H3. Healthy Food Development Services................ 2
H4. Projected HFFI-FA Activities..................... 7
H5, H6, and H7. HFFI Track Record, Management 7
Capacity for Providing Healthy Food Financing,
Healthy Food Financing Outcomes.....................
------------------
Total Points..................................... 25
------------------------------------------------------------------------

The CDFI Fund will deduct points, in accordance with the following
table, from Applicants that have received prior awards under any CDFI
Fund program:

Table 14--Point Deductions
------------------------------------------------------------------------
Issues Descriptions
------------------------------------------------------------------------
Failure to meet Agreement The CDFI Fund will deduct points
requirements. from any Applicant that has not
met requirements in any
previously executed CDFI Fund
award agreement(s) including
compliance reports due 24 months
prior to the Application
deadline.
Failure to provide timely loan The CDFI Fund will deduct points
payments. from any Applicant that has
failed to submit one or more
timely loan payments to the CDFI
Fund within the 24 months prior
to the Application deadline.
Incurred de-obligations.............. The CDFI Fund will deduct points
from any Applicant if any CDFI
Fund award funds were de-
obligated within the 12 months
prior to the Application
deadline for any reason other
than insufficient matching
funds.
Points will not be deducted for
any de-obligations that resulted
from a Recipient's inability to
provide eligible matching funds
within the specified time frame.
------------------------------------------------------------------------

2. Review and Selection Process. All Applications will be initially
evaluated by external non-Federal reviewers who are selected based on
criteria that includes: A professional background in community and
economic development finance; experience reviewing financial statements
of all CDFI institution types; and experience performing underwriting
of community and economic development projects. Reviewers must complete
the CDFI Fund's conflict of interest process and be approved by the
CDFI Fund. The CDFI Fund's application reader conflict of interest
policy is located on the CDFI Fund's Web site.
TA Applications will be evaluated by one external reviewer; FA and
HFFI-FA Applications will be evaluated by three external reviewers. All
Applications will be reviewed in accordance with reviewer evaluation
materials. Applications will be ranked based on Application scores,
from highest to lowest. In the case of tied scores, Applicants will be
ranked first according to each Performance score, then the Purpose
section. TA Applicants, Category I, Category II, and HFFI-FA Applicants
will be grouped and ranked separately.
3. Programmatic and Financial Risk Analysis. The CDFI Fund conducts
three additional levels of due diligence for Applications that are in
scoring contention for an award. This due diligence includes an
analysis of programmatic and financial risk factors including, but not
limited to: Financial stability; quality of management systems and
ability to meet award management standards; history of performance in
managing Federal awards (including timeliness of reporting and
compliance); reports and findings from audits; and

[[Page 58414]]

the Applicant's ability to effectively implement Federal requirements.
Award amounts may be reduced as a result of this analysis. In addition,
for FA awards, the CDFI Fund may reduce awards sizes from requested
amounts based on certain variables, including an Applicant's loan
disbursement activity, total portfolio outstanding, and similar
factors. Lastly, the CDFI Fund may consider the institutional diversity
of Applicants when making its funding decisions.
4. Insured Depository Institutions: The CDFI Fund will consider
safety and soundness information from the Appropriate Federal or State
Banking Agency. If the Applicant is a CDFI Depository Institution
Holding Company, the CDFI Fund will consider information provided by
the Appropriate Federal or State Banking Agencies on the CDFI
Depository Institution Holding Company and the CDFI Certified Insured
Depository Institution that will expend and carry out the award. If the
Appropriate Federal Banking Agency or Appropriate State Agency
identifies safety and soundness concerns, the CDFI Fund will assess
whether the concerns cause or will cause the Applicant to be incapable
of undertaking the activities for which funding has been requested.
5. Non-Regulated Institutions: In accordance with the CDFI
Program's authorizing statute and regulations, the CDFI Fund must
ensure, to the maximum extent practicable, that recipients that are
non-regulated CDFIs are financially and managerially sound and maintain
appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR
1805.800(b)). Further, the CDFI Fund must determine that an Applicant's
capacity to operate as a CDFI will not be dependent upon assistance
from the CDFI Fund for continued viability (12 U.S.C. 4704(b)(2)(A)).
If it is determined the Applicant is incapable of meeting these
requirements, the CDFI Fund reserves the right to deem the Applicant
ineligible or terminate the award.
6. Anticipated Award Announcement: The CDFI Fund anticipates making
CDFI Program award announcements by September 30, 2015.
7. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative error)
comes to the CDFI Fund's attention that either: Adversely affects an
Applicant's eligibility for an award; adversely affects the Recipient's
certification as a CDFI (to the extent that the award is conditional
upon CDFI certification); adversely affects the CDFI Fund's evaluation
or scoring of an Application; or indicates fraud or mismanagement on
the Applicant's part. If the CDFI Fund determines any portion of the
Application is incorrect in a material respect, the CDFI Fund reserves
the right, in its sole discretion, to reject the Application. The CDFI
Fund reserves the right to change its eligibility and evaluation
criteria and procedures, if the CDFI Fund deems it appropriate. If the
changes materially affect the CDFI Fund's award decisions, the CDFI
Fund will provide information about the changes through its Web site.
The CDFI Fund's award decisions are final and there is no right to
appeal the decisions.

VI. Federal Award Administration Information

A. Award Notification: Each successful Applicant will receive an
email ``notice of award'' notification from the CDFI Fund stating that
its Application has been approved for an award. Each Applicant not
selected for an award will receive an email stating that a debriefing
notice has been provided in its MyCDFI Fund account.
B. Assistance Agreement: Each Applicant selected to receive an
award must enter into an Assistance Agreement with the CDFI Fund in
order to receive a disbursement(s). The Assistance Agreement will set
forth the award's terms and conditions, including but not be limited to
the: (i) Award amount; (ii) award type; (iii) award uses; (iv) Target
Market(s) or activities; (v) performance goals and measures; and (vi)
reporting requirements. FA Assistance Agreements have three-year
periods of performance; TA Assistance Agreements have two-year periods
of performance.
1. Certificate of Good Standing: All FA and TA Recipients that are
not Insured Depository Institutions will be required to provide the
CDFI Fund with a certificate of good standing from the secretary of
state for the Recipient's State of incorporation prior to closing. This
certificate can often be acquired online on the secretary of state Web
site for the Recipient's State of incorporation and must generally be
dated within 270 days before the date the Recipient executes the
Assistance Agreement. Due to potential backlogs in State government
offices, Applicants are advised to submit requests for certificates of
good standing no later than 60 days after they submit their
Applications.
2. Closing: Pursuant to the Assistance Agreement, there will be an
initial closing at which point the Assistance Agreement and related
documents will be properly executed and delivered, and an initial
payment of FA or TA may be made. The CDFI Fund will minimize the time
between the Recipient incurring costs for eligible activities and award
payment based on what is administratively feasible. The advanced
payments for eligible activities will occur no more than one year in
advance of the Recipient incurring costs for the eligible activities.
Following the initial closing, there may be subsequent closings
involving additional award payments. Any documents in addition to the
Assistant Agreement that are connected with such subsequent closings
and payments shall be properly executed and timely delivered by the
Recipient to the CDFI Fund.
3. Requirements Prior To Entering Into an Assistance Agreement: If,
prior to entering into an Assistance Agreement, information (including
administrative error) comes to the CDFI Fund's attention that:
Adversely affects the Recipient's eligibility for an award; the
Recipient's certification as a CDFI (to the extent that the award is
conditional upon CDFI certification); the CDFI Fund's evaluation of the
Application evaluation; the Recipient is not in compliance with any
requirement listed the Uniform Federal Award Requirements; or indicates
fraud or mismanagement on the Recipient's part, the CDFI Fund may, in
its discretion and without advance notice to the Recipient, terminate
the award or take such other actions as it deems appropriate. The CDFI
Fund reserves the right, in its sole discretion, to rescind an award if
the Recipient fails to return the Assistance Agreement, signed by the
authorized representative of the Recipient, and/or provide the CDFI
Fund with any other requested documentation, within the CDFI Fund's
deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Assistance Agreement and the
award made under this NOFA pending the criteria described in the
following table:

[[Page 58415]]

Table 15--Requirements Prior to Executing an Assistance Agreement
------------------------------------------------------------------------
Requirement Criteria
------------------------------------------------------------------------
Failure to meet reporting If a Recipient received
requirements. a prior award under any CDFI
Fund program and is not current
with the reporting requirements
in the previously executed
agreement(s), the CDFI Fund can
delay entering into an
Assistance Agreement or
disbursing an award until
reporting requirements are met.
If such a Recipient is
unable to meet the requirement
within the timeframe specified,
the CDFI Fund may terminate and
rescind the Assistance Agreement
and the award made under this
NOFA.
The automated systems
the CDFI Fund uses only
acknowledge a report's receipt,
not a determination of meeting
reporting requirements.
Failure to maintain CDFI An FA Recipient must be
Certification. a Certified CDFI prior to
entering into an Assistance
Agreement.
If an FA Recipient fails
to maintain CDFI Certification,
the CDFI Fund will terminate and
rescind the Assistance Agreement
and the award made under this
NOFA.
Pending resolution of noncompliance.. The CDFI Fund will delay
entering into an Assistance
Agreement with a Recipient that
has pending noncompliance issues
if the CDFI Fund has not yet
made a final determination as to
whether the Recipient is in
default of its previously
executed award agreement(s).
If the Recipient is
unable to satisfactorily resolve
the compliance issues, the CDFI
Fund may terminate and rescind
the Assistance Agreement and the
award made under this NOFA.
Default status....................... If, at any time prior to
entering into an Assistance
Agreement, the CDFI Fund
determines that an Recipient is
in default of a previously
executed agreement with the CDFI
Fund and the Recipient has been
provided written notification of
such determination, the CDFI
Fund can delay entering into an
Assistance Agreement, until the
Recipient has cured the default
by taking actions the CDFI Fund
has specified within the
specified timeframe.
If the Recipient is
unable to meet the cure
requirement within the specified
timeframe, the CDFI Fund may
terminate and rescind the
Assistance Agreement and the
award made under this NOFA.
Final Default and sanctions.......... If the CDFI Fund has found the
Recipient in final default of a
prior executed agreement and
provided notification of
sanctions, the CDFI Fund may
terminate and rescind the
Assistance Agreement and the
award made under this NOFA
within the time period specified
in such notification.
Compliance with Federal civil rights If prior to entering into an
requirements. Assistance Agreement under this
NOFA, the Recipient receives a
final determination, made within
the last three years, in any
proceeding instituted against
the Recipient in, by, or before
any court, governmental, or
administrative body or agency,
declaring that the Recipient has
violated the following laws:
Title VI of the Civil Rights Act
of 1964, as amended (42 U.S.C.
2000d); Section 504 of the
Rehabilitation Act of 1973 (29
U.S.C. 794); the Age
Discrimination Act of 1975, (42
U.S.C. 6101-6107), and Executive
Order 13166, Improving Access to
Services for Persons with
Limited English Proficiency, the
CDFI Fund will terminate and
rescind the Assistance Agreement
and the award made under this
NOFA.
Do Not Pay........................... The Do Not Pay Business
Center was developed to support
Federal agencies in their
efforts to reduce the number of
improper payments made through
programs funded by the Federal
government.
The CDFI Fund reserves
the right, in its sole
discretion, to rescind an award
if the Recipient is identified
as an ineligible recipient on
the Do Not Pay database.
Safety and soundness................. If it is determined the
Recipient is or will be
incapable of meeting its award
obligations, the CDFI Fund will
deem the Recipient to be
ineligible or require it to
improve safety and soundness
conditions prior to entering
into an Assistance Agreement.
------------------------------------------------------------------------

C. Reporting:
1. Reporting requirements: On an annual basis for the period of
performance, the CDFI Fund may collect information from each Recipient
including, but not limited to, an Annual Report with the following
components:

Table 16--Annual Reporting Requirements
------------------------------------------------------------------------

------------------------------------------------------------------------
Single Audit Narrative Report (or The Recipient must submit, via
like report). MyCDFI Fund, a Single Audit
Narrative Report for each year
of its period of performance
notifying the CDFI Fund whether
it is required to have a single
audit pursuant to OMB Single
Audit requirements.
Single Audit (if applicable) (or If a Recipient is required to
similar report). complete a Single Audit Report,
it should be submitted to the
Federal Audit Clearinghouse see
2 CFR Subpart F-Audit
Requirements in the Uniform
Federal Award Requirements.
For-profit Recipients will be
required to complete and submit
a similar report directly to the
CDFI Fund.
Institution Level Report (ILR)....... The ILR is a report used to
collect compliance and
performance data from CDFI Fund
award Recipients. The ILR is
submitted through the Community
Investment Impact System (CIIS)
and captures organizational
information, financial position,
lending and investing
activities, community
development outputs, and
development services.
Transaction Level Report (TLR)....... The TLR is a report used to
collect compliance and
performance data from CDFI Fund
award Recipients. The TLR is
submitted through the CIIS and
captures data on each individual
loan and investment in the award
Recipient's portfolio.
For CDFI Depository
Institution Holding Company
award Recipients, the TLR
captures data on the individual
loans and investments by its
CDFI Subsidiary Insured
Depository Institution's
portfolio.
TLR is not required for
TA Recipients.
Federal Financial Report/OMB Standard If the Recipient receives a TA
Form 425. award, it must submit the
Federal Financial Report/OMB
Standard Form 425 via MyCDFI
Fund.

[[Page 58416]]

Uses of Financial Assistance Report.. If the Recipient receives an FA
award, it must submit the Uses
of Financial Assistance Report
via MyCDFI Fund.
Explanation of Noncompliance (as If the Recipient fails to meet a
applicable) or successor report. Performance Goal, it must submit
the Explanation of Noncompliance
via MyCDFI Fund.
Uses of Technical Assistance Report.. If the Recipient receives a TA
award, it must submit the Uses
of Technical Assistance Report
via MyCDFI Fund.
------------------------------------------------------------------------

Each Recipient is responsible for the timely and complete
submission of the Annual Reporting requirements. The CDFI Fund reserves
the right to contact the Recipient and additional entities or
signatories to the Assistance Agreement to request additional
information and documentation. The CDFI Fund will use such information
to monitor each Recipient's compliance with the requirements in the
Assistance Agreement and to assess the impact of the CDFI Program. The
CDFI Fund reserves the right, in its sole discretion, to modify these
reporting requirements if it determines it to be appropriate and
necessary; however, such reporting requirements will be modified only
after notice to Recipients.
2. Financial Management and Accounting: The CDFI Fund will require
Recipients to maintain financial management and accounting systems that
comply with Federal statutes, regulations, and the terms and conditions
of the Federal award. These systems must be sufficient to permit the
preparation of reports required by general and program specific terms
and conditions, including the tracing of funds to a level of
expenditures adequate to establish that such funds have been used
according to the Federal statutes, regulations, and the terms and
conditions of the Federal award.
The cost principles used by Recipients must be consistent with
Federal cost principles and support the accumulation of costs as
required by the principles, and must provide for adequate documentation
to support costs charged to the CDFI Program award. In addition, the
CDFI Fund will require Recipients to: Maintain effective internal
controls; comply with applicable statutes, regulations, and the
Assistance Agreement; evaluate and monitor compliance; take action when
not in compliance; and safeguard personally identifiable information.

VII. Agency Contacts

A. The CDFI Fund will respond to questions concerning this NOFA and
the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern
Time, starting on the date that the NOFA is published through the date
listed in Table 1 and Table 11. The CDFI Fund will post on its Web site
responses to reoccurring questions received about this Application.
Other information regarding the CDFI Fund and its programs may be
obtained from the CDFI Fund's Web site at https://www.cdfifund.gov.
Table 17 lists CDFI Fund contact information:

Table 17--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone number (not
Type of question toll free) Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program.......................... 202-653-0421, option 1... cdfihelp@cdfi.treas.gov.
Certification, Compliance Monitoring, 202-653-0423............. ccme@cdfi.treas.gov.
and Evaluation.
MyCDFI Fund--IT Help Desk............. 202-653-0422............. IThelpdesk@cdfi.treas.gov.
----------------------------------------------------------------------------------------------------------------

B. Information Technology Support: People who have visual or
mobility impairments that prevent them from using the CDFI Fund's Web
site should call (202) 653-0422 for assistance (this is not a toll free
number).
C. Communication with the CDFI Fund: The CDFI Fund will use contact
information in MyCDFI Fund to communicate with Applicants and
Recipients. It is imperative, therefore, that Applicants, Recipients,
Subsidiaries, Affiliates, and signatories maintain accurate contact
information in their accounts. This includes information such as
contact names (especially for the authorized representative) listed in
this NOFA's application materials, email addresses, fax and phone
numbers, and office locations.
D. Civil Rights and Diversity: Any person who is eligible to
receive benefits or services from CDFI Fund or Recipients under any of
its programs is entitled to those benefits or services without being
subject to prohibited discrimination. The Department of the Treasury's
Office of Civil Rights and Diversity enforces various Federal statutes
and regulations that prohibit discrimination in financially assisted
and conducted programs and activities of the CDFI Fund. If a person
believes that s/he has been subjected to discrimination and/or reprisal
because of membership in a protected group, s/he may file a complaint
with: Associate Chief Human Capital Officer, Office of Civil Rights,
and Diversity, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or
(202) 622-1160 (not a toll-free number).

VIII. Other Information

A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44
U.S.C. chapter 35), an agency may not conduct or sponsor a collection
of information, and an individual is not required to respond to a
collection of information, unless it displays a valid OMB control
number. If applicable, the CDFI Fund may inform Applicants that they do
not need to provide certain Application information otherwise required.
Pursuant to the Paperwork Reduction Act, the CDFI Program, and NACA
Program Application has been assigned the following control number:
1559-0021.
B. Application Information Sessions: The CDFI Fund may conduct
webinars or host information sessions for organizations that are
considering applying to, or are interested in learning about, the CDFI
Fund's programs. For further information, please visit the CDFI Fund's
Web site at https://www.cdfifund.gov.

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

Dated: September 23, 2014.
Dennis Nolan,
Deputy Director, Community Development Financial Institutions Fund.
[FR Doc. 2014-23060 Filed 9-26-14; 8:45 am]
BILLING CODE 4810-70-P

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