Native American CDFI Assistance (NACA) Program, 68026-68035 [2010-27802]

Download as PDF 68026 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices These information collection requirements ensure bank compliance with applicable Federal law, promote bank safety and soundness, provide protections for banks, and further public policy interests. Estimated Number of Respondents: 48. Estimated Number of Responses: 48. Estimated Total Annual Burden: 450 hours. The information collection was issued for 60 days of comment on August 17, 2010. 75 FR 50800. No comments were received. Comments continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility; (b) The accuracy of the OCC’s estimate of the information collection burden; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: October 29, 2010. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency. [FR Doc. 2010–27901 Filed 11–3–10; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Bureau of the Public Debt Proposed Collection: Comment Request Notice and request for comments. ACTION: The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104–13 (44 U.S.C. 3506(c)(2)(A). Currently the Bureau of the Public Debt within the Department of the Treasury is soliciting comments concerning the resolution for jlentini on DSKJ8SOYB1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 transactions involving registered securities. Written comments should be received on or before January 3, 2011, to be assured of consideration. ADDRESSES: Direct all written comments to Bureau of the Public Debt, Robert L. Schumacher, 200 Third Street, A4–A, Parkersburg, WV 26106–1328, or Robert.Schumacher@bpd.treas.gov. DATES: FOR FURTHER INFORMATION CONTACT: Requests for additional information or copies of the form and instructions should be directed to Robert L. Schumacher, Bureau of the Public Debt, 200 Third Street, A4–A, Parkersburg, WV 26106–1328, (304) 480–8150. SUPPLEMENTARY INFORMATION: Title: Resolution For Transactions Involving Registered Securities. OMB Number: 1535–0117. Form Number: PD F 1010. Abstract: The information is requested to establish the official’s authority to act on behalf of the organization. Current Actions: None. Type of Review: Extension. Affected Public: Business or other for profit. Estimated Number of Respondents: 1,380. Estimated Time per Respondent: 10 minutes. Estimated Total Annual Burden Hours: 230. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Dated: October 28, 2010. Robert L. Schumacher, Manager, Information Management Branch. [FR Doc. 2010–27863 Filed 11–3–10; 8:45 am] BILLING CODE 4810–39–P PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Native American CDFI Assistance (NACA) Program Funding Opportunity Title: Notice of Funds Availability (NOFA) inviting applications for the FY 2011 Funding Round of the Native American CDFI Assistance (NACA) Program. Announcement Type: Announcement of funding opportunity. Catalog of Federal Domestic Assistance (CFDA) Number: 21.020. DATES: Applications for Financial Assistance (FA) and/or Technical Assistance (TA) awards through the FY 2011 Funding Round of the NACA Program must be received by 11:59 p.m., Eastern Time (ET), December 22, 2010. Executive Summary: Subject to funding availability, this NOFA is issued in connection with the FY 2011 Funding Round. The NACA Program is administered by the Community Development Financial Institutions (CDFI) Fund. I. Funding Opportunity Description A. Through the NACA Program, the CDFI Fund provides: (i) FA awards to CDFIs that direct at least 50 percent of their activities toward serving Native American, Alaska Native, and/or Native Hawaiians (Native CDFIs). Native CDFIs must have Comprehensive Business Plans for creating demonstrable community development impact through the deployment of credit, capital, and financial services within their respective Target Markets or for the expansion into new Investment Areas, Low-Income Targeted Populations, or Other Targeted Populations; and (ii) TA grants to Native CDFIs, entities proposing to become Native CDFIs, and to Native organizations, Tribes, and Tribal organizations (Sponsoring Entities) that propose to create Native CDFIs, in order to build their capacity to meet the community development and capital access needs of their existing or proposed Target Markets and/or to become certified Native CDFIs. B. The regulations governing the CDFI Program are found at 12 CFR part 1805 (the Regulations) and provide guidance on evaluation criteria and other requirements of the NACA Program. The CDFI Fund encourages Applicants to review the Regulations. Detailed application content requirements are found in the applicable funding application and related guidance materials. Each capitalized term in this E:\FR\FM\04NON1.SGM 04NON1 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices jlentini on DSKJ8SOYB1PROD with NOTICES NOFA is more fully defined in the Regulations, the application, or the guidance materials. C. 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 reserves the right to re-allocate funds from the amount that is anticipated to be available under this NOFA to other CDFI Fund programs, particularly if the CDFI Fund determines that the number of awards made under this NOFA is fewer than projected. II. Award Information A. Funding Availability: Through this NOFA, and subject to funding availability, the CDFI Fund expects that it may award approximately $12 million in appropriated funds in the FY 2011 Funding Round. The CDFI Fund reserves the right to award in excess of $12 million in appropriated funds to Applicants in the FY 2011 Funding Round, provided that the funds are available and the CDFI Fund deems it appropriate. B. Availability of Funds for the FY 2011 Funding Round: Funds for the FY 2011 Funding Round have not yet been appropriated. If funds are not appropriated for the FY 2011 Funding Round, there will not be a FY 2011 Funding Round. Further, it is possible that if funds are appropriated for the FY 2011 Funding Round, the amount of such funds may be greater than or less than the amounts set forth above. Further, if funds for the FY 2011 Funding Round are not appropriated, entities that are eligible to apply for CDFI Program funds and that might otherwise have applied for NACA Program funds are encouraged to apply for funds through the FY 2011 Funding Round of the CDFI Program. C. Types of Awards: An Applicant may submit an application either for: (i) A FA award; (ii) a FA award and a TA grant; or (iii) a TA-only grant. 1. FA Awards: FA is intended to provide flexible financial support to CDFIs so that they may achieve the strategies outlined in their Comprehensive Business Plans. FA awards can be used in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Development Services; (iv) Loan Loss Reserves, (v) Capital Reserves, or other activities/uses that support the activities in the Applicant’s Comprehensive Business Plan; and/or (vi) Operations. For purposes of this NOFA, Financial Products means loans, grants, equity investments, and similar financing activities, including the purchase of loans originated by certified CDFIs and VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 the provision of loan guarantees, in the Applicant’s Target Market, or for related purposes that the CDFI Fund deems appropriate (including administrative funds used to carry out Financial Products). Financial Services means checking and savings accounts, certified checks, automated teller machine services, deposit taking, remittances, safe deposit box services, and other similar services (including administrative funds used to carry out Financial Services). Development Services means activities that promote community development and are integral to the Applicant’s provisions of Financial Products and Financial Services (including administrative funds used to carry out Development Services) including, for example, financial or credit counseling, housing and homeownership counseling (preand post-), self-employment technical assistance, entrepreneurship training, and financial management skillbuilding. Loan Loss Reserves means funds that the Applicant will set aside in the form of cash reserves, or through accounting-based accrual reserves, to cover losses on loans, accounts, and notes receivable made in its Target Market, or for related purposes that the CDFI Fund deems appropriate (including administrative funds used to carry out Loan Loss Reserves). Capital Reserves means funds that the Applicant will set aside in the form of reserves to support the Applicant’s ability to leverage other capital, for such purposes as increasing its net assets or serving the financing needs of its Target Market, or for related purposes that the CDFI Fund deems appropriate (including administrative funds used to carry out Capital Reserves). Operations means funds that the Applicant will use to carry out its Comprehensive Business Plan, and/or for related purposes that the CDFI Fund deems appropriate, that are not used to carry out or administer any of the foregoing eligible FA uses. FA awards are most commonly used for an Applicant’s Financial Products since FA funds can be used to support the Applicant’s community development lending activities. The CDFI Fund may provide FA awards in the form of equity investments (including, in the case of certain Insured Credit Unions, secondary capital accounts), grants, loans, deposits, credit union shares, or any combination thereof. The CDFI Fund reserves the right, in its sole discretion, to provide a FA award in a form and amount other than that which the Applicant requests; however, the award amount will not exceed the PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 68027 Applicant’s award request as stated in its application. The CDFI Fund reserves the right, in its sole discretion, to provide a FA award to an Applicant on the condition that the Applicant agrees to use a TA grant for specified capacitybuilding purposes, even if the Applicant has not requested a TA grant. FA awards must be used to support the Applicant’s activities; FA awards cannot be used to support the activities of, or otherwise be ‘‘passed through’’ to, third-party entities, whether Affiliates, Subsidiaries, or others, without the prior written permission of the CDFI Fund. 2. TA Grants: (a) The CDFI Fund provides TA awards in the form of grants. The CDFI Fund reserves the right, in its sole discretion, to provide a TA grant for uses and amounts other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its application and the applicable budget chart. (b) TA grants may be used to address a variety of needs including, but not limited to, development of strategic planning documents (such as strategic or capitalization plans), market analyses or product feasibility analyses, operational policies and procedures, curricula for Development Services (such as entrepreneurial training, home buyer education, financial education or training, or borrower credit repair training), improvement of underwriting and portfolio management, development of outreach and training strategies to enhance product delivery, operating support to expand into a new eligible market, and tools that allow the Applicant to assess the impact of its activities in its community. (c) Eligible TA grant uses include, but are not limited to: (i) Procuring professional services; (ii) acquiring/ enhancing technology items, including computer hardware, software, and Internet connectivity and related management information systems; (iii) acquiring training for staff, management, and/or board members; and (iv) paying recurring expenses, including staff salary and other key operating expenses, that will enhance the capacity of the Applicant to serve its Target Market and/or to become certified as a Native CDFI or to create a Native CDFI. Applicants should see the NACA application for additional details of each eligible use of TA. D. Assistance Agreement: Each Awardee under this NOFA must execute an Assistance Agreement in order to receive a disbursement of award proceeds by the CDFI Fund. The Assistance Agreement contains the terms and conditions of the award. For E:\FR\FM\04NON1.SGM 04NON1 68028 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices further information, see Section VI.A of this NOFA. III. Eligibility Information A. Eligible Applicants: The Regulations specify the eligibility requirements that each Applicant must meet in order to be eligible to apply for assistance under this NOFA. The following sets forth additional detail and dates that relate to the submission of applications under this NOFA: 1. Applicant Categories: All Applicants for FA, FA/TA and TA-only awards through this NOFA must meet the criteria in Table 1—NACA Applicant Criteria. TABLE 1—NACA APPLICANT CRITERIA Criteria of applicant Maximum award FA, FA/TA ............................ A Certified/Certifiable Native CDFI that meets all other eligibility requirements described in this NOFA. TA-only ................................. jlentini on DSKJ8SOYB1PROD with NOTICES Applicant type A Certified Native CDFI, a Certifiable Native CDFI, an Emerging Native CDFI, or a Sponsoring Entity. Up to and including $750,000 in FA funds, and up to and including $150,000 if TA funds are being requested. Up to $150,000 for capacity-building activities. 2. Native CDFI Certification Requirements: For purposes of this NOFA, eligible FA Applicants include Certified Native CDFIs and Certifiable Native CDFIs; eligible TA Applicants include Certified Native CDFIs, Certifiable Native CDFIs, Emerging Native CDFIs, and Sponsoring Entities, defined as follows: (a) Certified Native CDFIs: For purposes of this NOFA, a Certified Native CDFI is an entity that has received official notification from the CDFI Fund that it meets all CDFI certification requirements as of the date of publication of this NOFA, the certification of which has not expired and that has not been notified by the CDFI Fund that its certification has been terminated. In cases where the CDFI Fund provided Native CDFIs with written notification that their certifications had been extended, the CDFI Fund will consider the extended certification date (the later date) to determine whether those Native CDFIs meet this eligibility requirement. When applicable, each such Applicant must submit a Certification of Material Events form to the CDFI Fund not later than the deadline indicated in Section IV. F. Application Deadlines. The Certification of Material Events form can be found on the CDFI Fund’s Web site at http:// www.CDFIfund.gov. (b) Certifiable Native CDFIs: For purposes of this NOFA, a Certifiable Native CDFI is an entity from which the CDFI Fund has received a complete CDFI Certification application no later than the deadline indicated in Section IV. F—Application Deadlines, evidencing that the Applicant meets the requirements to be certified as a Native CDFI. The CDFI Certification application can be found on the CDFI Fund’s Web site at http:// www.CDFIfund.gov. If the CDFI Fund is unable to certify the organization as a Native CDFI based on the CDFI certification application submitted to VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 the CDFI Fund, it is in the sole discretion of the CDFI Fund to terminate the award commitment. While a Certifiable Native CDFI may be conditionally selected for a FA award, the CDFI Fund will not enter into an Assistance Agreement or disburse award funds unless and until the CDFI Fund has officially certified the organization as a Native CDFI. (c) Emerging Native CDFIs: For purposes of this NOFA, an Emerging Native CDFI is an entity that demonstrates to the CDFI Fund’s satisfaction that it has a reasonable plan to be a certified Native CDFI within two calendar years after both entities enter into an Assistance Agreement or such other date selected by the CDFI Fund. Emerging Native CDFIs may apply for TA grants only and are not eligible to apply for FA awards. Each Emerging Native CDFI selected to receive a TA grant will be required, pursuant to its Assistance Agreement with the CDFI Fund, to become certified as a Native CDFI by a certain date. (d) Sponsoring Entities: For the purposes of this NOFA, a Sponsoring Entity is an entity that proposes to create a separate legal entity that will become a certified Native CDFI. Sponsoring Entities include: (a) A Tribe, Tribal entity, Alaska Native Village, Village Corporation, Regional Corporation, Non-Profit Regional Corporation/Association, or Inter-Tribal or Inter-Village organization; or (b) an organization whose primary mission is to serve a Native Community including, but not limited to, an Urban Indian Center, Tribally Controlled Community College, community development corporation (CDC), training or education organization, or Chamber of Commerce, and that primarily serves a Native Community (meaning, at least 50 percent of its activities are directed toward the Native Community). Sponsoring Entities may only apply for TA grants; they are not eligible to apply PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 for FA awards. Each Sponsoring Entity that is selected to receive a TA grant will be required, pursuant to its Assistance Agreement with the CDFI Fund, to create a legal entity by a certain date that will, in turn, seek Native CDFI certification and to transfer remaining award funds to that Native CDFI upon certification. 3. Limitation on Awards: An Applicant may receive only one FA award through the FY 2011 Funding Round of the CDFI Program or the NACA Program. A NACA Program Applicant, its Subsidiaries, or Affiliates also may apply for and receive a Bank Enterprise Award (BEA) Program award, provided however that the activities approved for BEA Program awards were not funded by the proceeds of a NACA Program award. A NACA Program Applicant, its Subsidiaries, or Affiliates also may apply for and receive a tax credit allocation through the New Markets Tax Credit (NMTC) Program, but only to the extent that the activities approved for NACA Program awards are different from those activities for which the Applicant receives a NMTC Program allocation. B. Prior Awardees: Applicants must be aware that success in a prior round of any of the CDFI Fund’s programs is not indicative of success under this NOFA. For purposes of this section, the CDFI Fund will consider an Affiliate to be any entity that meets the definition of Affiliate in the Regulations or an entity otherwise identified as an Affiliate by the Applicant in its funding application under this NOFA. Prior Awardees should note the following: 1. $5 million Funding Cap: Congress waived the $5 million funding cap for the FY 2009 and FY 2010 Funding Rounds, and it is possible that the $5 million funding cap may be waived for the FY 2011 Funding Round as well. As of the publication date of this NOFA, however, such a waiver has not been enacted into law. Accordingly, the CDFI E:\FR\FM\04NON1.SGM 04NON1 jlentini on DSKJ8SOYB1PROD with NOTICES Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices Fund is currently prohibited from obligating more than $5 million in assistance, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period. In general, the three-year period extends back three years from the date that the CDFI Fund signs an award agreement; for purposes of this NOFA, and for ease of administration, the CDFI Fund will consider any assistance documented with a Notice of Award or Assistance Agreement dated between July 1, 2008 and July 1, 2011 (which is the anticipated date that the CDFI Fund will issue assistance agreements for the FY 2011 Funding Round). However, in light of the possibility of a waiver of the $5 million funding cap, an Applicant who is otherwise eligible under this NOFA, and is requesting an award amount that would cause the Applicant to exceed the $5 million funding cap, should submit an Application under this NOFA. The CDFI Fund will assess applicability of the $5 million funding cap during the award selection phase based upon whether the Congressional waiver has been enacted at that time. 2. Failure to Meet Reporting Requirements: The CDFI Fund will not consider an application submitted by an Applicant if the Applicant, or an Affiliate of the Applicant, is a prior Awardee or Allocatee under any CDFI Fund program and is not current on the reporting requirements set forth in a previously executed assistance, allocation, or award agreement(s), as of the applicable application deadline of this NOFA. Please note that the CDFI Fund only acknowledges the receipt of reports that are complete. As such, incomplete reports or reports that are deficient of required elements will not be recognized as having been received. 3. Pending Resolution of Noncompliance: If an Applicant is a prior Awardee or Allocatee under any CDFI Fund program and if (i) it has submitted complete and timely reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, allocation, or award agreement, and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous assistance, allocation, or award agreement, the CDFI Fund will consider the Applicant’s application under this NOFA pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. Further, if an Affiliate of the Applicant is a prior CDFI Fund Awardee or Allocatee and if such entity (i) has submitted complete and timely reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, allocation, or award VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 agreement and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous assistance, allocation, or award agreement, the CDFI Fund will consider the Applicant’s application under this NOFA pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. 4. Default Status: The CDFI Fund will not consider an application submitted by an Applicant that is a prior Awardee or Allocatee under any CDFI Fund program if, as of the applicable application deadline of this NOFA, the CDFI Fund has made a final determination that such Applicant is in default of a previously executed assistance, allocation, or award agreement(s). Further, an entity is not eligible to apply for an award pursuant to this NOFA if, as of the applicable application deadline of this NOFA, the CDFI Fund has made a final determination that an Affiliate of the Applicant is a prior Awardee or Allocatee under any CDFI Fund program and has been determined by the CDFI Fund to be in default of a previously executed assistance, allocation, or award agreement(s). Such entities will be ineligible to apply for an award pursuant to this NOFA so long as the Applicant’s, or its Affiliate’s, prior award or allocation remains in default status or such other time period as specified by the CDFI Fund in writing. 5. Termination in Default: The CDFI Fund will not consider an application submitted by an Applicant that is a prior Awardee or Allocatee under any CDFI Fund program if (i) within the 12-month period prior to the applicable application deadline of this NOFA, the CDFI Fund has made a final determination that such Applicant‘s prior award or allocation terminated in default of a previously executed assistance, allocation, or award agreement(s), and (ii) the final reporting period end date for the applicable terminated assistance, allocation, or award agreement(s) falls within the 12-month period prior to the application deadline of this NOFA. Further, an entity is not eligible to apply for an award pursuant to this NOFA if (i) within the 12-month period prior to the applicable application deadline, the CDFI Fund has made a final determination that an Affiliate of the Applicant is a prior Awardee or Allocatee under any CDFI Fund program whose award or allocation terminated in default of a previously executed assistance, allocation, or award agreement(s), and (ii) the final reporting period end date for the applicable terminated assistance, PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 68029 allocation, or award agreement(s) falls within the 12-month period prior to the application deadline of this NOFA. 6. Undisbursed Award Funds: The CDFI Fund will not consider an Applicant’s application if the Applicant or an Affiliate of the Applicant is a prior Awardee under any CDFI Fund program and has undisbursed award funds (as defined below) as of this NOFA’s application deadline. The Fund will include the combined undisbursed prior awards, as of this NOFAs application deadline, of the Applicant and affiliated entities, including those in which the affiliated entity Controls the Applicant, is Controlled by the Applicant, or shares common management officials with the Applicant as determined by the Fund. Undisbursed BEA Program award funds will be included in the calculation of undisbursed awards for the Applicant (and any Affiliates) from three to five calendar years prior to the end of the calendar year of this NOFA’s application deadline. Thus, for purposes of this NOFA, undisbursed awards made in FYs 2005, 2006, and 2007 will be included in the calculation for the Applicant’s undisbursed award amounts if the funds have not been disbursed as of this NOFA’s application deadline. Undisbursed funds for the CDFI and NACA Programs will be calculated by adding all undisbursed award amounts made to the Applicant (and any Affiliates) two to five calendar years prior to the end of the calendar year of this NOFA. Therefore, undisbursed CDFI Program and NACA awards made in FYs 2005, 2006, 2007, and 2008 will be included in the undisbursed calculation as of this NOFA’s application deadline. Undisbursed awards can not exceed five percent of the total includable awards for the Applicant’s BEA/CDFI/ NACA awards, as of this NOFA’s application deadline. (The total ‘‘includable’’ award amount is the total award amount from the relevant Fund program.) Please refer to an example of this calculation on the Fund’s Web site, found in the Q&A document for the FY 2011 Funding Round. The ‘‘undisbursed award funds’’ calculation does not include: (i) Tax credit allocation authority made available through the NMTC Program; (ii) award funds the Awardee has requested from the Fund by submitting a full and complete disbursement request before this NOFA’s application deadline; (iii) award funds for an award that the Fund has terminated or deobligated; or (iv) award funds for an award that does not have a fully executed assistance or award agreement. The Fund encourages Applicants to E:\FR\FM\04NON1.SGM 04NON1 jlentini on DSKJ8SOYB1PROD with NOTICES 68030 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices request their undisbursed funds from the Fund at least 10 business days prior to this NOFA’s application deadline. 7. Contact the CDFI Fund: Applicants that are prior CDFI Fund Awardees are advised to: (i) Comply with requirements specified in assistance, allocation, and/or award agreement(s), and (ii) contact the CDFI Fund to ensure that all necessary actions are underway for the disbursement or deobligation of any outstanding balance of said prior award(s). An Applicant that is unsure about the disbursement status of any prior award should contact the CDFI Fund via e-mail at CDFI.disburseinquiries@cdfi.treas.gov. C. Matching Funds: Congress waived the matching funds requirements for the FY 2009 and the FY 2010 Funding Rounds, and it is possible that the matching funds requirements may be waived for the FY 2011 Funding Round as well. As of the publication date of this NOFA, however, such a waiver has not been enacted into law. Accordingly, the CDFI Fund encourages Applicants to include matching funds documentation as instructed in the application; if the matching funds waiver is enacted, the CDFI Fund will not consider matching funds documentation. An Applicant that does not include matching funds documentation in its application runs the risk of being determined to be ineligible for funding under the FY 2011 Funding Round if said matching funds waiver is not enacted. In light of the possibility of a waiver of the matching funds requirements, an Applicant who would not satisfy the matching funds requirements but is otherwise eligible under this NOFA should submit an application under this NOFA. The CDFI Fund will assess applicability of the matching funds requirements during the award selection phase based upon whether the Congressional waiver has been enacted at that time. Accordingly, subject to the immediately preceding paragraph: 1. Applicants responding to this NOFA must obtain non-Federal matching funds from sources other than the Federal government on the basis of not less than one dollar for each dollar of FA funds provided by the CDFI Fund (matching funds are not required for TA grants). Matching funds must be at least comparable in form and value to the FA provided by the CDFI Fund. For example, if an Applicant is requesting a FA award from the CDFI Fund, the Applicant must show that it has obtained matching funds through commitment(s) from non-Federal sources that are at least equal to the amount requested from the CDFI Fund. Applicants cannot use matching funds VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 from a prior FA award under the NACA or CDFI Program or under another Federal grant or award program to satisfy the matching funds requirement of this NOFA. If an Applicant seeks to use as matching funds monies received from an organization that was a prior Awardee under the NACA or CDFI Program, the CDFI Fund will deem such funds to be Federal funds, unless the funding entity establishes to the reasonable satisfaction of the CDFI Fund that such funds do not consist, in whole or in part, of NACA or CDFI Program funds or other Federal funds. For the purposes of this NOFA, BEA Program awards may not be used as matching funds. The CDFI Fund encourages Applicants to review the Regulations at 12 CFR 1805.500 et seq. and matching funds guidance materials on the CDFI Fund’s Web site for further information. 2. Due to funding constraints and the desire to quickly deploy CDFI Fund dollars, the CDFI Fund will not consider for a FA award any Applicant that has no matching funds in-hand or firmly committed as of the application deadline of this NOFA. An Applicant for a FA award must demonstrate that it has eligible matching funds equal to no less than 25 percent of the amount of the FA award requested in-hand or firmly committed, on or after January 1, 2009, and on or before the application deadline. The CDFI Fund reserves the right to rescind all or a portion of a FA award and re-allocate the rescinded award amount to other qualified Applicant(s), if an Applicant fails to obtain in-hand 100 percent of the required matching funds by March 14, 2012 (with required documentation of such receipt received by the CDFI Fund not later than March 31, 2012), or to grant an extension of such matching funds deadline for specific Applicants selected to receive FA awards, if the CDFI Fund deems it appropriate. For any Applicant that demonstrates that it has less than 100 percent of matching funds in-hand or firmly committed as of the application deadline, the CDFI Fund will evaluate the Applicant’s ability to raise the remaining matching funds by March 14, 2012. 3. Matching Funds Terms Defined; Required Documentation. (a) ‘‘Matching funds in-hand’’ means the Applicant has actually received the matching funds. If the matching funds are ‘‘in-hand,’’ the Applicant must provide the CDFI Fund with acceptable written documentation of the source, form, and amount of the matching funds (i.e., grant, loan, deposit, and equity investment). For a loan, the Applicant must provide the CDFI Fund with a copy of the loan agreement and promissory note. For a PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 grant, the Applicant must provide the CDFI Fund with a copy of the grant letter or agreement for all grants of $50,000 or more. For an equity investment, the Applicant must provide the CDFI Fund with a copy of the stock certificate and any related shareholder agreement. Further, if the matching funds are ‘‘in-hand’’, the Applicant must provide the CDFI Fund with acceptable documentation that evidences its receipt of the matching funds proceeds, such as a copy of a check or a wire transfer statement. (b) ‘‘Firmly committed matching funds’’ means the Applicant has entered into or received a legally binding commitment from the matching funds source that the matching funds will be disbursed to the Applicant. If the matching funds are ‘‘firmly committed,’’ the Applicant must provide the CDFI Fund with acceptable written documentation to evidence the source, form, and amount of the firm commitment (and, in the case of a loan, the terms thereof), as well as the anticipated date of disbursement of the committed funds. 4. The CDFI Fund may contact the matching funds source to discuss the matching funds and the documentation provided by the Applicant. If the CDFI Fund determines that any portion of the Applicant’s matching funds is ineligible under this NOFA, the CDFI Fund, in its sole discretion, may permit the Applicant to offer alternative matching funds as a substitute for the ineligible matching funds; provided, however, that (i) the Applicant must provide acceptable alternative matching funds documentation within two business days of the CDFI Fund’s request and (ii) the alternative matching funds documentation cannot increase the total amount of Financial Assistance requested by the Applicant. 5. Special Rule for Insured Credit Unions: The Regulations allow an Insured Credit Union to use retained earnings to serve as matching funds for a FA grant in an amount equal to: (i) The increase in retained earnings that has occurred over the Applicant’s most recent fiscal year; (ii) the annual average of such increases that has occurred over the Applicant’s three most recent fiscal years; or (iii) the entire retained earnings that have been accumulated since the inception of the Applicant, as provided in the Regulations. For purposes of this NOFA, if option (iii) is used, the Applicant must increase its member and/or non-member shares or total loans outstanding by an amount that is equal to the amount of retained earnings that is committed as matching funds. E:\FR\FM\04NON1.SGM 04NON1 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices This amount must be raised by the end of the Awardee’s second performance period, as set forth in its Assistance Agreement, and will be based on amounts reported in the Applicant’s Audited or Reviewed Financial Statements or NCUA Form 5300 Call Report. 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 that it has increased shares or loans by at least 25 percent of the requested FA award amount between December 31, 2009 and December 31, 2010, as demonstrated by the corresponding NCUA report. IV. Application and Submission Information A. MyCDFIFund Accounts: All Applicants must register user and organization accounts in myCDFIFund, the CDFI Fund’s Internet-based interface. An Applicant must be registered as both a user and an organization in myCDFIFund as of the applicable application deadline in order to be considered to have submitted a complete application. As myCDFIFund is the CDFI Fund’s primary means of communication with Applicants and Awardees, organizations must make sure that they update the contact information in their myCDFIFund accounts before the applicable application deadline. For more information on myCDFIFund, please see the ‘‘Frequently Asked Questions’’ link posted at https://www.cdfifund.gov/ myCDFI/Help/Help.asp. B. Form of Application Submission: Applicants must submit applications under this NOFA electronically. Applications sent by email, mail, facsimile, or other forms will not be accepted except in circumstances the CDFI Fund approves beforehand. C. Applications Submitted via Grants.gov: For the FY 2011 Funding Round, in compliance with Public Law 106–107 and Section 5(a) of the Federal Financial Assistance Management Improvement Act of 1999, the CDFI Fund is accepting applications submitted through the Grants.gov electronic system. Applicants are encouraged to start the registration process upon review of the NOFA at http://www.Grants.gov. The process may take several weeks to fully complete. See the following link for information on getting started on Grants.gov: http://grants.gov/assets/ GrantsgovCoBrandBrochure8X11.pdf. Please note that the CDFI Fund will not accept applications through myCDFIFund. D. Application Content Requirements: Detailed application content requirements, including the required elements of the Comprehensive Business Plan, are found in the application and guidance. Each Applicant must provide, as part of its application submission, a Dun and 68031 Bradstreet Data Universal Numbering System (DUNS) number pursuant to OMB guidance (68 FR 38402). In addition, each application must include a valid and current Employer Identification Number (EIN). An electronic application that does not include an EIN is incomplete and cannot be transmitted to the CDFI Fund through Grants.gov. Applicants should allow sufficient time for the Internal Revenue Service (IRS) and/or Dun and Bradstreet to respond to inquiries and/ or requests for identification numbers. Once an application is submitted, the Applicant will not be allowed to change any element of the application. The preceding sentences do not limit the CDFI Fund’s ability to contact an Applicant for the purpose of obtaining clarifying or confirming application information. E. Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an agency may not conduct or sponsor a collection of information, and an individual is not required to respond to a collection of information, unless it displays a valid OMB control number. Pursuant to the Paperwork Reduction Act, the application has been assigned the following control number: 1559–0025. F. Application Deadlines: 1. The following are the deadlines for submission of the NACA Program Funding Application, the CDFI Certification Application, and the Certification of Material Events form: TABLE 2—FY 2011 NACA PROGRAM DEADLINES [All eastern time deadlines] Must be received by: Deadlines for contacting CDFI Fund staff CDFI Certification Application ............................... Certification of Material Events Form ................... NACA Program Funding Application .................... jlentini on DSKJ8SOYB1PROD with NOTICES Document Thursday, December 2, 2010 by 5 p.m ............... Thursday, December 2, 2010 by 5 p.m ............... Wednesday, December 22, 2010 by 11:59 p.m .. Wednesday, December 1, 2010 by 5 p.m. Wednesday, December 1, 2010 by 5 p.m. Monday, December 20, 2010 by 11:59 p.m. 2. Late Delivery: The CDFI Fund will neither accept a late application nor any portion of an application that is late; an application that is late, or for which any portion is late, will be rejected. The CDFI Fund will not grant exceptions or waivers. Any application that is deemed ineligible will not be returned to the Applicant. G. Intergovernmental Review: Not applicable. H. Funding Restrictions: For allowable uses of FA proceeds, please see the Regulations at 12 CFR 1805.301. V. Application Review Information A. Format: Funding applications must be single-spaced and use a 12-point font VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 with 1-inch margins. Each section in the application that is scored has page limitations. Applicants are encouraged to read each section carefully and to remain within the page limitations for each section. The CDFI Fund will not consider responses beyond the specified page limitation in each section. Also, the CDFI Fund will read only information requested in the application and will not read attachments that have not been specifically requested in this NOFA or the application, such as the Applicant’s five-year strategic or marketing plans. B. Criteria: The CDFI Fund will evaluate each application on a 100-point scale using numeric scores with respect PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 to the five sections required in the application. The CDFI Fund will score each section as indicated in the following table: TABLE 3—APPLICATION SCORING CRITERIA Application sections Market Analysis ............................ Business Strategy ......................... Community Development Performance & Effective Use ......... Management ................................. Financial Health & Viability ........... E:\FR\FM\04NON1.SGM 04NON1 Scoring points 25 25 20 20 10 jlentini on DSKJ8SOYB1PROD with NOTICES 68032 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices C. Technical Assistance Proposal: Any Applicant applying for a TA grant, either alone or in conjunction with a request for a FA award, must complete a Technical Assistance Proposal (TAP) as part of its application. The TAP consists of a summary of the organizational improvements needed to achieve the objectives of the Comprehensive Business Plan, a budget, and a description of the requested goods and/or services comprising the TA award request. The budget and accompanying narrative will be evaluated for the eligibility and appropriateness of the proposed uses of the TA grant (described above). In addition, if the Applicant identifies a capacity-building need related to any of the evaluation criteria above (for example, if the Applicant requires a market need analysis or a community development impact tracking/reporting system), the CDFI Fund will assess its plan to use the TA grant to address said needs. 1. Non-Certified Applicants: An Applicant that is not a Certified Native CDFI and that requests TA to address certification requirements must explain how the requested TA grant will assist the Applicant in meeting the certification requirements. The CDFI Fund will assess the reasonableness of the plan to become certified (as specified above in Section III, Eligibility Information; A.3. Native CDFI Certification Requirements), taking into account the requested TA. For example, if the Applicant does not currently make loans and therefore does not meet the Financing Entity requirement, it might describe how the TA funds will be used to hire a consultant to develop underwriting policies and procedures to support the Applicant’s ability to start its lending activity. 2. Recurring Activities: An Applicant that requests a TA grant for recurring activities must clearly describe the benefit that would accrue to its capacity or to its Target Market(s) (such as plans for expansion of staff, market, products or annual conference attendance) as a result of the TA grant. If the Applicant is a prior CDFI Fund Awardee, it must describe how it has used the prior assistance and explain the need for additional CDFI Fund dollars over and above such prior assistance. D. Review and Selection Process: 1. Eligibility and Completeness Review: The CDFI Fund will review each application to determine whether it is complete and the Applicant meets the eligibility requirements set forth above. An incomplete application does not meet eligibility requirements and will be rejected. Any application that does VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 not meet eligibility requirements will not be returned to the Applicant. 2. Substantive Review: If an application is determined to be complete and the Applicant is determined to be eligible, the CDFI Fund will conduct the substantive review of the application in accordance with the criteria and procedures described in the Regulations, this NOFA, and the application and guidance. As part of the review process, the CDFI Fund may contact the Applicant by telephone, e-mail, mail, or through an on-site visit for the sole purpose of obtaining clarifying or confirming application information (such as statements of work, matching funds documentation, or DUNS numbers for example). After submitting its application, the Applicant will not be permitted to revise or modify its application in any way nor attempt to negotiate the terms of an award. If contacted for clarifying or confirming information, the Applicant must respond within the time parameters set by the CDFI Fund. 3. Application Scoring; Ranking: (a) Application Scoring: The CDFI Fund will evaluate each application on a 100-point scale, comprising the five criteria categories described above, and assign numeric scores. An Applicant must receive a minimum score in each evaluation criteria in order to be considered for an award. (b) Evaluating Prior Award Performance: In the case of an Applicant that has previously received funding through any CDFI Fund program, the CDFI Fund will consider and will deduct points for: (i) The Applicant’s noncompliance with any active award or award that terminated in the current calendar year in meeting its performance goals and measures, reporting deadlines, and other requirements set forth in the assistance or award agreement(s) with the CDFI Fund during the Applicant’s two complete fiscal years prior to the application deadline of this NOFA; (ii) the Applicant’s failure to make timely loan payments to the CDFI Fund during the Applicant’s two complete fiscal years prior to the application deadline of this NOFA (if applicable); (iii) performance on any prior Assistance Agreement as part of the overall assessment of the Applicant’s ability to carry out its Comprehensive Business Plan; and (iv) funds deobligated from a FY 2008, 2009, or 2010 FA award (if the Applicant is applying for a FA award under this NOFA) if (A) the amount of deobligated funds is at least $200,000 and (B) the deobligation occurred within the 12 months prior to the PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 application deadline under this NOFA. Any award deobligations that result in a point deduction for an application submitted under this NOFA will not be counted against future applications for FA through the NACA Program. In the case of an Applicant that has previously received funding through any CDFI Fund program, the CDFI Fund will consider and may, in its discretion, deduct points for those Applicants that have in any proceeding instituted against the Applicant in, by, or before any court, governmental, or administrative body or agency received a final determination within the last three years indicating that the Applicant has discriminated on the basis of race, color, national origin, disability, age, marital status, receipt of income from public assistance, religion, or sex. (c) Ranking: The CDFI Fund then will rank the applications by their scores, from highest to lowest. 4. Award Selection: The CDFI Fund will make its final award selections based on the rank order of Applicants by their scores and the amount of funds available. In the case of a tied score(s), Applicants will be ranked according to each Applicant’s combined scores in the Market Analysis, Business Strategy, and Community Development Performance & Effective Use sections; then the score on the Financial Health and Viability section; then the score on the Management section. In addition, the CDFI Fund shall consider the institutional and geographic diversity of Applicants when making its funding decisions. 5. Insured Native CDFIs: In the case of Insured Depository Institutions and Insured Credit Unions, the CDFI Fund will consider the views of the Appropriate Federal Banking Agencies. Throughout the award review process, the CDFI Fund will consult with the Appropriate Federal Banking Agency about the Applicant’s financial safety and soundness. If the Appropriate Federal Banking 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. If it is determined the Applicant is incapable of meeting its obligations, the CDFI Fund reserves the right to deselect the Applicant from receiving an award. The CDFI Fund also reserves the right to require insured NACA Applicants to improve safety and soundness conditions prior to receiving an award disbursement. In addition, the CDFI Fund will take into consideration Community Reinvestment Act E:\FR\FM\04NON1.SGM 04NON1 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices jlentini on DSKJ8SOYB1PROD with NOTICES assessments of Insured Depository Institutions and/or their Affiliates. 6. Award Notification: Each Applicant will be informed of the CDFI Fund’s award decision either through notification in the Applicant’s myCDFIFund account, via e-mail to the Applicant’s Authorized Official Representative. This includes notification to Applicants who are not receiving an award if the decision is based on reasons other than completeness and eligibility. The CDFI Fund will provide feedback in a format and within a timeframe depending on available resources. 7. The CDFI Fund reserves the right to reject an application if information (including administrative errors) comes to the attention of the CDFI Fund that either adversely affects an Applicant’s eligibility for an award, adversely affects the CDFI Fund’s evaluation or scoring of an application, or indicates fraud or mismanagement on the part of an Applicant. If the CDFI Fund determines that any portion of the application is incorrect in any 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 said changes materially affect the CDFI Fund’s award decisions, the CDFI Fund will provide information regarding the changes through the CDFI Fund’s Web site. There is no right to appeal the CDFI Fund’s award decisions. The CDFI Fund’s award decisions are final. VI. Award Administration Information A. Assistance Agreement: Each Applicant that is selected to receive an award under this NOFA must enter into an Assistance Agreement with the CDFI Fund in order to receive disbursement of award proceeds. The Assistance Agreement will set forth certain required terms and conditions of the award, which will include, but not be limited to: (i) The amount of the award; (ii) the type of award; (iii) the approved uses of the award; (iv) the approved eligible market to which the funded activity must be targeted; (v) performance goals and measures; and (vi) reporting requirements for all Awardees. Applicants should review the OMB Guidance: Requirements for Federal Funding Accountability and Transparency Act Implementation (2 CFR part 170) to ensure that they have processes and systems in place to comply with the reporting obligations. FA and FA/TA Assistance Agreements under this NOFA generally will have three-year performance periods; TA- VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 only Assistance Agreements generally will have two-year performance periods. If prior to entering into an Assistance Agreement with the CDFI Fund, information (including administrative error) comes to the attention of the CDFI Fund that either adversely affects the Awardee’s eligibility for an award, or adversely affects the CDFI Fund’s evaluation of the Awardee’s application, or indicates fraud or mismanagement on the part of the Awardee, the CDFI Fund may, in its discretion and without advance notice to the Awardee, terminate the award or take such other actions as it deems appropriate. Moreover, if prior to entering into an Assistance Agreement with the CDFI Fund, the CDFI Fund determines that the Awardee or an Affiliate of the Awardee is in default of any Assistance Agreement previously entered into with the CDFI Fund, the CDFI Fund may, in its discretion and without advance notice to the Awardee, either terminate the award or take such other actions as it deems appropriate. For purposes of this section, the CDFI Fund will consider an Affiliate to mean any entity that meets the definition of Affiliate in the Regulations. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Awardee fails to return the Assistance Agreement, signed by the Authorized Representative of the Awardee, and/or provide the CDFI Fund with any other requested documentation, within the deadlines set by the CDFI Fund. Each Awardee must provide the CDFI Fund with a good standing certificate (or equivalent documentation) from its State (or jurisdiction) of incorporation. 1. Failure to Meet Reporting Requirements: If an Awardee or an Affiliate of the Awardee is a prior Awardee or Allocatee under any CDFI Fund program and is not current on the reporting requirements set forth in the previously executed assistance, allocation, or award agreement(s), as of the date of the Assistance Agreement, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement until said prior Awardee or Allocatee is current on the reporting requirements in any previously executed assistance, allocation, or award agreement(s). Please note that the CDFI Fund only acknowledges the receipt of reports that are complete. As such, incomplete reports or reports that are deficient of required elements will not be recognized as having been received. If said prior Awardee or Allocatee is unable to meet this requirement within the timeframe set by the CDFI Fund, the PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 68033 CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA. 2. Pending Resolution of Noncompliance: If an Applicant is a prior Awardee or Allocatee under any CDFI Fund program and if: (i) It has submitted complete and timely reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, award, or allocation agreement; and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous assistance, award, or allocation agreement, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. Further, if an Affiliate of the Awardee is a prior CDFI Fund Awardee or Allocatee and if such entity (i) has submitted complete and timely reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, award, or allocation agreement, and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous assistance, award, or allocation agreement, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. If the prior Awardee or Allocatee in question is unable to satisfactorily resolve the issues of noncompliance, in the sole determination of the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA. 3. Default Status: If, at any time prior to entering into an Assistance Agreement through this NOFA, the CDFI Fund has made a final determination that an Awardee that is a prior Awardee or Allocatee under any CDFI Fund program is in default of a previously executed assistance, allocation, or award agreement(s), the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement, until said prior Awardee or Allocatee has submitted a complete and timely report demonstrating full compliance with said agreement within a timeframe set by the CDFI Fund. Further, if at any time prior to entering into an Assistance Agreement through this NOFA, the CDFI Fund has made a final determination that an Affiliate of the Awardee is a prior Awardee or Allocatee under any CDFI Fund E:\FR\FM\04NON1.SGM 04NON1 jlentini on DSKJ8SOYB1PROD with NOTICES 68034 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices program and is in default of a previously executed assistance, allocation, or award agreement(s), the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Assistance Agreement, until said prior Awardee or Allocatee has submitted a complete and timely report demonstrating full compliance with said agreement within a timeframe set by the CDFI Fund. If said prior Awardee or Allocatee is unable to meet this requirement and the CDFI Fund has not specified in writing that the prior Awardee or Allocatee is otherwise eligible to receive an Award under this NOFA, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA. 4. Termination in Default: If (i) within the 12-month period prior to entering into an Assistance Agreement through this NOFA, the CDFI Fund has made a final determination that an Awardee is a prior Awardee or Allocatee under any CDFI Fund program whose award or allocation was terminated in default of such prior agreement, and (ii) the final reporting period end date for the applicable terminated agreement falls within the 12-month period prior to the application deadline of this NOFA, the CDFI Fund reserves the right, in its sole discretion, to delay entering into or determine not to enter into an Assistance Agreement. Further, if (i) within the 12-month period prior to entering into an Assistance Agreement through this NOFA, the CDFI Fund has made a final determination that an Affiliate of the Awardee is a prior Awardee or Allocatee under any CDFI Fund program whose award or allocation was terminated in default of such prior agreement, and (ii) the final reporting period end date for the applicable terminated agreement falls within the 12-month period prior to the application deadline of this NOFA, the CDFI Fund reserves the right, in its sole discretion, to delay entering into or determine not to enter into an Assistance Agreement. 5. Compliance with Federal AntiDiscrimination Laws: If the Awardee has previously received funding through any CDFI Fund program, and if at any time prior to entering into an Assistance Agreement through this NOFA, the CDFI Fund is made aware of a final determination, made within the last three years, in any proceeding instituted VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 against the Awardee in, by, or before any court, governmental, or administrative body or agency, declaring that the Awardee has discriminated on the basis of race, color, national origin, disability, age, marital status, receipt of income from public assistance, religion, or sex, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the award made under this NOFA. B. Reporting: 1. Reporting Requirements: The CDFI Fund will collect information, on at least an annual basis, from each Awardee including, but not limited to, an Annual Report that comprises the following components: (i) Financial Reports (including an OMB A–133 audit, as applicable; however Financial Reports are not required of Sponsoring Entities); (ii) Institution Level Report; (iii) Transaction Level Report (for Awardees receiving FA awards); (iv) Financial Status Report form SF–269/SF–425 (for Awardees receiving TA grants); (v) Uses of Financial Assistance (for Awardees receiving FA awards); (vi) Explanation of Noncompliance (as applicable); and (vii) such other information as the CDFI Fund may require. Each Awardee is responsible for the timely and complete submission of the Annual Report, even if all or a portion of the documents actually is completed by another entity or signatory to the Assistance Agreement. If such other entities or signatories are required to provide Institution Level Reports, Transaction Level Reports, Financial Reports, or other documentation that the CDFI Fund may require, the Awardee is responsible for ensuring that the information is submitted timely and complete. The CDFI Fund reserves the right to contact such additional entities or signatories to the Assistance Agreement and require that additional information and documentation be provided. The CDFI Fund will use such information to monitor each Awardee’s compliance with the requirements set forth in the Assistance Agreement and to assess the impact of the NACA Program. The Institution Level Report and the Transaction Level Report must be submitted through the CDFI Fund’s Web-based data collection system, the Community Investment Impact System (CIIS). The Financial Reports may be submitted through CIIS. All other components of the Annual Report may be submitted electronically, as directed, PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 by the CDFI Fund. 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 Awardees. Furthermore, in order to ensure compliance with reporting requirements, all Awardees will be required to participate in a postaward training session on the CDFI Fund’s reporting requirements. Awardees who fail to participate in such training run the risk of having the award rescinded or future applications penalized by point deductions. 2. Accounting: The CDFI Fund will require each Awardee that receives FA and TA awards through this NOFA to account for and track the use of said FA and TA awards. This means that for every dollar of FA and TA awards received from the CDFI Fund, the Awardee will be required to inform the CDFI Fund of its uses. This will require Awardees to establish separate administrative and accounting controls, subject to the applicable OMB Circulars. The CDFI Fund will provide guidance to Awardees outlining the format and content of the information to be provided on an annual basis, outlining and describing how the funds were used. Each Awardee that receives an award must provide the CDFI Fund with the required complete and accurate Automated Clearinghouse (ACH) form for its bank account prior to award closing and disbursement. VII. Agency Contacts A. The CDFI Fund will respond to questions and provide support concerning this NOFA and the funding application between the hours of 9 a.m. and 5 p.m. ET, starting the date of the publication of this NOFA through three business days prior to the application deadline. The CDFI Fund will not respond to questions or provide support concerning the applications that are received after 5 p.m. ET on said dates, until after the funding application deadline. Applications and other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund’s Web site at http:// www.cdfifund.gov. The CDFI Fund will post responses on its Web site to questions of general applicability regarding the NACA Program. B. The CDFI Fund’s contact information is as follows: E:\FR\FM\04NON1.SGM 04NON1 Federal Register / Vol. 75, No. 213 / Thursday, November 4, 2010 / Notices 68035 TABLE 4—CONTACT INFORMATION Telephone number (not toll free) * Type of question NACA Program .......................................................................................................................... Certification, Compliance Monitoring and Evaluation ................................................................ Information Technology Support ................................................................................................ 202–622–6355 202–622–6330 202–622–2455 E-mail addresses cdfihelp@cdfi.treas.gov. cme@cdfi.treas.gov. ithelpdesk@cdfi.treas.gov. * Fax number for all offices: 202–622–7754. C. Information Technology Support: People who have visual or mobility impairments that prevent them from creating a Target Market map using the CDFI Fund’s Web site should call (202) 622–2455 for assistance (this is not a toll free number). D. Communication with the CDFI Fund: The CDFI Fund will use the myCDFIFund Internet interface to communicate with Applicants and Awardees, using the contact information maintained in their respective myCDFIFund accounts. Therefore, the Applicant and any Subsidiaries, signatories, and Affiliates must maintain accurate contact information (including contact person and authorized representative, e-mail addresses, fax numbers, phone numbers, and office addresses) in its myCDFIFund account(s). For more information about myCDFIFund (which includes information about the CDFI Fund’s Community Investment Impact System), please see the Help documents posted at http://www.cdfifund.gov/ciis/ accessingciis.pdf. VIII. Information Sessions and Outreach The CDFI Fund may conduct webinars or host information sessions for organizations interested in applying to, or learning about, the CDFI Fund’s programs. For further information, please visit the CDFI Fund’s Web site at http://www.cdfifund.gov. Authority: 12 U.S.C. 4703, 4704, 4706, 4707, 4717; 12 CFR part 1805. Dated: October 29, 2010. Donna J. Gambrell, Director, Community Development Financial Institutions Fund. [FR Doc. 2010–27802 Filed 11–3–10; 8:45 am] jlentini on DSKJ8SOYB1PROD with NOTICES BILLING CODE 4810–70–P VerDate Mar<15>2010 16:47 Nov 03, 2010 Jkt 223001 DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0708] Proposed Information Collection (Evidence for Transfer of Entitlement of Education Benefits) Activity: Comment Request Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: The Veterans Benefits Administration (VBA) is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act (PRA) of 1995, Federal agencies are required to publish notice in the Federal Register concerning each proposed collection of information, including each proposed extension of a currently approved collection, and allow 60 days for public comment in response to the notice. This notice solicits comments on information needed to transfer a servicemember’s educational assistance benefits to his or her dependents. DATES: Written comments and recommendations on the proposed collection of information should be received on or before January 3, 2011. ADDRESSES: Submit written comments on the collection of information through Federal Docket Management System (FDMS) at http://www.Regulations.gov or to Nancy J. Kessinger, Veterans Benefits Administration (20M35), Department of Veterans Affairs, 810 Vermont Avenue, NW., Washington, DC 20420 or e-mail nancy.kessinger@va.gov. Please refer to ‘‘OMB Control No. 2900–0708’’ in any correspondence. During the comment period, comments may be viewed online through the FDMS. FOR FURTHER INFORMATION CONTACT: Nancy J. Kessinger at (202) 461–9769 or FAX (202) 275–5947. SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Pub. L. 104–13; 44 U.S.C. 3501–3521), Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each SUMMARY: PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 collection of information they conduct or sponsor. This request for comment is being made pursuant to Section 3506(c)(2)(A) of the PRA. With respect to the following collection of information, VBA invites comments on: (1) Whether the proposed collection of information is necessary for the proper performance of VBA’s functions, including whether the information will have practical utility; (2) the accuracy of VBA’s estimate of the burden of the proposed collection of information; (3) ways to enhance the quality, utility, and clarity of the information to be collected; and (4) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or the use of other forms of information technology. Title: Evidence for Transfer of Entitlement of Education Benefits (38 CFR 21.7080). OMB Control Number: 2900–0708. Type of Review: Extension of a currently approved collection. Abstract: Servicemembers on active duty may request to designate up to a maximum of 18 months of their educational assistance entitlement to their spouse, one or more of their children, or a combination of the spouse and children. VA will accept DOD Form 2366–1 as evidence that the servicemember was approved by the military to transfer entitlement. The servicemember must submit in writing to VA, the name of each dependent, the number of months of entitlement transferred to each dependent, and the period (beginning date or ending date) for which the transfer will be effective for each designated dependent. VA will use the information shown on DOD Form 2366–1 to determine whether the dependent qualifies to receive education benefits under the transfer of entitlement provision of law. Affected Public: Individuals or households. Estimated Annual Burden: 5,227. Estimated Average Burden per Respondent: 5 minutes. Frequency of Response: Once. Estimated Number of Respondents: 62,725. E:\FR\FM\04NON1.SGM 04NON1

Agencies

[Federal Register Volume 75, Number 213 (Thursday, November 4, 2010)]
[Notices]
[Pages 68026-68035]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27802]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Native American CDFI Assistance (NACA) Program

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting applications for the FY 2011 Funding Round of the Native 
American CDFI Assistance (NACA) Program.
    Announcement Type: Announcement of funding opportunity.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.

DATES: Applications for Financial Assistance (FA) and/or Technical 
Assistance (TA) awards through the FY 2011 Funding Round of the NACA 
Program must be received by 11:59 p.m., Eastern Time (ET), December 22, 
2010.
    Executive Summary: Subject to funding availability, this NOFA is 
issued in connection with the FY 2011 Funding Round. The NACA Program 
is administered by the Community Development Financial Institutions 
(CDFI) Fund.

I. Funding Opportunity Description

    A. Through the NACA Program, the CDFI Fund provides: (i) FA awards 
to CDFIs that direct at least 50 percent of their activities toward 
serving Native American, Alaska Native, and/or Native Hawaiians (Native 
CDFIs). Native CDFIs must have Comprehensive Business Plans for 
creating demonstrable community development impact through the 
deployment of credit, capital, and financial services within their 
respective Target Markets or for the expansion into new Investment 
Areas, Low-Income Targeted Populations, or Other Targeted Populations; 
and (ii) TA grants to Native CDFIs, entities proposing to become Native 
CDFIs, and to Native organizations, Tribes, and Tribal organizations 
(Sponsoring Entities) that propose to create Native CDFIs, in order to 
build their capacity to meet the community development and capital 
access needs of their existing or proposed Target Markets and/or to 
become certified Native CDFIs.
    B. The regulations governing the CDFI Program are found at 12 CFR 
part 1805 (the Regulations) and provide guidance on evaluation criteria 
and other requirements of the NACA Program. The CDFI Fund encourages 
Applicants to review the Regulations. Detailed application content 
requirements are found in the applicable funding application and 
related guidance materials. Each capitalized term in this

[[Page 68027]]

NOFA is more fully defined in the Regulations, the application, or the 
guidance materials.
    C. 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 reserves the right to re-allocate funds from the 
amount that is anticipated to be available under this NOFA to other 
CDFI Fund programs, particularly if the CDFI Fund determines that the 
number of awards made under this NOFA is fewer than projected.

II. Award Information

    A. Funding Availability: Through this NOFA, and subject to funding 
availability, the CDFI Fund expects that it may award approximately $12 
million in appropriated funds in the FY 2011 Funding Round. The CDFI 
Fund reserves the right to award in excess of $12 million in 
appropriated funds to Applicants in the FY 2011 Funding Round, provided 
that the funds are available and the CDFI Fund deems it appropriate.
    B. Availability of Funds for the FY 2011 Funding Round: Funds for 
the FY 2011 Funding Round have not yet been appropriated. If funds are 
not appropriated for the FY 2011 Funding Round, there will not be a FY 
2011 Funding Round. Further, it is possible that if funds are 
appropriated for the FY 2011 Funding Round, the amount of such funds 
may be greater than or less than the amounts set forth above. Further, 
if funds for the FY 2011 Funding Round are not appropriated, entities 
that are eligible to apply for CDFI Program funds and that might 
otherwise have applied for NACA Program funds are encouraged to apply 
for funds through the FY 2011 Funding Round of the CDFI Program.
    C. Types of Awards: An Applicant may submit an application either 
for: (i) A FA award; (ii) a FA award and a TA grant; or (iii) a TA-only 
grant.
    1. FA Awards: FA is intended to provide flexible financial support 
to CDFIs so that they may achieve the strategies outlined in their 
Comprehensive Business Plans. FA awards can be used in the following 
five categories: (i) Financial Products; (ii) Financial Services; (iii) 
Development Services; (iv) Loan Loss Reserves, (v) Capital Reserves, or 
other activities/uses that support the activities in the Applicant's 
Comprehensive Business Plan; and/or (vi) Operations. For purposes of 
this NOFA, Financial Products means loans, grants, equity investments, 
and similar financing activities, including the purchase of loans 
originated by certified CDFIs and the provision of loan guarantees, in 
the Applicant's Target Market, or for related purposes that the CDFI 
Fund deems appropriate (including administrative funds used to carry 
out Financial Products). Financial Services means checking and savings 
accounts, certified checks, automated teller machine services, deposit 
taking, remittances, safe deposit box services, and other similar 
services (including administrative funds used to carry out Financial 
Services). Development Services means activities that promote community 
development and are integral to the Applicant's provisions of Financial 
Products and Financial Services (including administrative funds used to 
carry out Development Services) including, for example, financial or 
credit counseling, housing and homeownership counseling (pre- and post-
), self-employment technical assistance, entrepreneurship training, and 
financial management skill-building. Loan Loss Reserves means funds 
that the Applicant will set aside in the form of cash reserves, or 
through accounting-based accrual reserves, to cover losses on loans, 
accounts, and notes receivable made in its Target Market, or for 
related purposes that the CDFI Fund deems appropriate (including 
administrative funds used to carry out Loan Loss Reserves). Capital 
Reserves means funds that the Applicant will set aside in the form of 
reserves to support the Applicant's ability to leverage other capital, 
for such purposes as increasing its net assets or serving the financing 
needs of its Target Market, or for related purposes that the CDFI Fund 
deems appropriate (including administrative funds used to carry out 
Capital Reserves). Operations means funds that the Applicant will use 
to carry out its Comprehensive Business Plan, and/or for related 
purposes that the CDFI Fund deems appropriate, that are not used to 
carry out or administer any of the foregoing eligible FA uses. FA 
awards are most commonly used for an Applicant's Financial Products 
since FA funds can be used to support the Applicant's community 
development lending activities.
    The CDFI Fund may provide FA awards in the form of equity 
investments (including, in the case of certain Insured Credit Unions, 
secondary capital accounts), grants, loans, deposits, credit union 
shares, or any combination thereof. The CDFI Fund reserves the right, 
in its sole discretion, to provide a FA award in a form and amount 
other than that which the Applicant requests; however, the award amount 
will not exceed the Applicant's award request as stated in its 
application. The CDFI Fund reserves the right, in its sole discretion, 
to provide a FA award to an Applicant on the condition that the 
Applicant agrees to use a TA grant for specified capacity-building 
purposes, even if the Applicant has not requested a TA grant. FA awards 
must be used to support the Applicant's activities; FA awards cannot be 
used to support the activities of, or otherwise be ``passed through'' 
to, third-party entities, whether Affiliates, Subsidiaries, or others, 
without the prior written permission of the CDFI Fund.
    2. TA Grants: (a) The CDFI Fund provides TA awards in the form of 
grants. The CDFI Fund reserves the right, in its sole discretion, to 
provide a TA grant for uses and amounts other than that which the 
Applicant requests; however, the award amount will not exceed the 
Applicant's award request as stated in its application and the 
applicable budget chart.
    (b) TA grants may be used to address a variety of needs including, 
but not limited to, development of strategic planning documents (such 
as strategic or capitalization plans), market analyses or product 
feasibility analyses, operational policies and procedures, curricula 
for Development Services (such as entrepreneurial training, home buyer 
education, financial education or training, or borrower credit repair 
training), improvement of underwriting and portfolio management, 
development of outreach and training strategies to enhance product 
delivery, operating support to expand into a new eligible market, and 
tools that allow the Applicant to assess the impact of its activities 
in its community.
    (c) Eligible TA grant uses include, but are not limited to: (i) 
Procuring professional services; (ii) acquiring/enhancing technology 
items, including computer hardware, software, and Internet connectivity 
and related management information systems; (iii) acquiring training 
for staff, management, and/or board members; and (iv) paying recurring 
expenses, including staff salary and other key operating expenses, that 
will enhance the capacity of the Applicant to serve its Target Market 
and/or to become certified as a Native CDFI or to create a Native CDFI. 
Applicants should see the NACA application for additional details of 
each eligible use of TA.
    D. Assistance Agreement: Each Awardee under this NOFA must execute 
an Assistance Agreement in order to receive a disbursement of award 
proceeds by the CDFI Fund. The Assistance Agreement contains the terms 
and conditions of the award. For

[[Page 68028]]

further information, see Section VI.A of this NOFA.

III. Eligibility Information

    A. Eligible Applicants: The Regulations specify the eligibility 
requirements that each Applicant must meet in order to be eligible to 
apply for assistance under this NOFA. The following sets forth 
additional detail and dates that relate to the submission of 
applications under this NOFA:
    1. Applicant Categories: All Applicants for FA, FA/TA and TA-only 
awards through this NOFA must meet the criteria in Table 1--NACA 
Applicant Criteria.

                    Table 1--NACA Applicant Criteria
------------------------------------------------------------------------
                                   Criteria of
       Applicant type               applicant           Maximum award
------------------------------------------------------------------------
FA, FA/TA...................  A Certified/          Up to and including
                               Certifiable Native    $750,000 in FA
                               CDFI that meets all   funds, and up to
                               other eligibility     and including
                               requirements          $150,000 if TA
                               described in this     funds are being
                               NOFA.                 requested.
TA-only.....................  A Certified Native    Up to $150,000 for
                               CDFI, a Certifiable   capacity-building
                               Native CDFI, an       activities.
                               Emerging Native
                               CDFI, or a
                               Sponsoring Entity.
------------------------------------------------------------------------

    2. Native CDFI Certification Requirements: For purposes of this 
NOFA, eligible FA Applicants include Certified Native CDFIs and 
Certifiable Native CDFIs; eligible TA Applicants include Certified 
Native CDFIs, Certifiable Native CDFIs, Emerging Native CDFIs, and 
Sponsoring Entities, defined as follows:
    (a) Certified Native CDFIs: For purposes of this NOFA, a Certified 
Native CDFI is an entity that has received official notification from 
the CDFI Fund that it meets all CDFI certification requirements as of 
the date of publication of this NOFA, the certification of which has 
not expired and that has not been notified by the CDFI Fund that its 
certification has been terminated. In cases where the CDFI Fund 
provided Native CDFIs with written notification that their 
certifications had been extended, the CDFI Fund will consider the 
extended certification date (the later date) to determine whether those 
Native CDFIs meet this eligibility requirement. When applicable, each 
such Applicant must submit a Certification of Material Events form to 
the CDFI Fund not later than the deadline indicated in Section IV. F. 
Application Deadlines. The Certification of Material Events form can be 
found on the CDFI Fund's Web site at http://www.CDFIfund.gov.
    (b) Certifiable Native CDFIs: For purposes of this NOFA, a 
Certifiable Native CDFI is an entity from which the CDFI Fund has 
received a complete CDFI Certification application no later than the 
deadline indicated in Section IV. F--Application Deadlines, evidencing 
that the Applicant meets the requirements to be certified as a Native 
CDFI. The CDFI Certification application can be found on the CDFI 
Fund's Web site at http://www.CDFIfund.gov. If the CDFI Fund is unable 
to certify the organization as a Native CDFI based on the CDFI 
certification application submitted to the CDFI Fund, it is in the sole 
discretion of the CDFI Fund to terminate the award commitment. While a 
Certifiable Native CDFI may be conditionally selected for a FA award, 
the CDFI Fund will not enter into an Assistance Agreement or disburse 
award funds unless and until the CDFI Fund has officially certified the 
organization as a Native CDFI.
    (c) Emerging Native CDFIs: For purposes of this NOFA, an Emerging 
Native CDFI is an entity that demonstrates to the CDFI Fund's 
satisfaction that it has a reasonable plan to be a certified Native 
CDFI within two calendar years after both entities enter into an 
Assistance Agreement or such other date selected by the CDFI Fund. 
Emerging Native CDFIs may apply for TA grants only and are not eligible 
to apply for FA awards. Each Emerging Native CDFI selected to receive a 
TA grant will be required, pursuant to its Assistance Agreement with 
the CDFI Fund, to become certified as a Native CDFI by a certain date.
    (d) Sponsoring Entities: For the purposes of this NOFA, a 
Sponsoring Entity is an entity that proposes to create a separate legal 
entity that will become a certified Native CDFI. Sponsoring Entities 
include: (a) A Tribe, Tribal entity, Alaska Native Village, Village 
Corporation, Regional Corporation, Non-Profit Regional Corporation/
Association, or Inter-Tribal or Inter-Village organization; or (b) an 
organization whose primary mission is to serve a Native Community 
including, but not limited to, an Urban Indian Center, Tribally 
Controlled Community College, community development corporation (CDC), 
training or education organization, or Chamber of Commerce, and that 
primarily serves a Native Community (meaning, at least 50 percent of 
its activities are directed toward the Native Community). Sponsoring 
Entities may only apply for TA grants; they are not eligible to apply 
for FA awards. Each Sponsoring Entity that is selected to receive a TA 
grant will be required, pursuant to its Assistance Agreement with the 
CDFI Fund, to create a legal entity by a certain date that will, in 
turn, seek Native CDFI certification and to transfer remaining award 
funds to that Native CDFI upon certification.
    3. Limitation on Awards: An Applicant may receive only one FA award 
through the FY 2011 Funding Round of the CDFI Program or the NACA 
Program. A NACA Program Applicant, its Subsidiaries, or Affiliates also 
may apply for and receive a Bank Enterprise Award (BEA) Program award, 
provided however that the activities approved for BEA Program awards 
were not funded by the proceeds of a NACA Program award. A NACA Program 
Applicant, its Subsidiaries, or Affiliates also may apply for and 
receive a tax credit allocation through the New Markets Tax Credit 
(NMTC) Program, but only to the extent that the activities approved for 
NACA Program awards are different from those activities for which the 
Applicant receives a NMTC Program allocation.
    B. Prior Awardees: Applicants must be aware that success in a prior 
round of any of the CDFI Fund's programs is not indicative of success 
under this NOFA. For purposes of this section, the CDFI Fund will 
consider an Affiliate to be any entity that meets the definition of 
Affiliate in the Regulations or an entity otherwise identified as an 
Affiliate by the Applicant in its funding application under this NOFA. 
Prior Awardees should note the following:
    1. $5 million Funding Cap: Congress waived the $5 million funding 
cap for the FY 2009 and FY 2010 Funding Rounds, and it is possible that 
the $5 million funding cap may be waived for the FY 2011 Funding Round 
as well. As of the publication date of this NOFA, however, such a 
waiver has not been enacted into law. Accordingly, the CDFI

[[Page 68029]]

Fund is currently prohibited from obligating more than $5 million in 
assistance, in the aggregate, to any one organization and its 
Subsidiaries and Affiliates during any three-year period. In general, 
the three-year period extends back three years from the date that the 
CDFI Fund signs an award agreement; for purposes of this NOFA, and for 
ease of administration, the CDFI Fund will consider any assistance 
documented with a Notice of Award or Assistance Agreement dated between 
July 1, 2008 and July 1, 2011 (which is the anticipated date that the 
CDFI Fund will issue assistance agreements for the FY 2011 Funding 
Round). However, in light of the possibility of a waiver of the $5 
million funding cap, an Applicant who is otherwise eligible under this 
NOFA, and is requesting an award amount that would cause the Applicant 
to exceed the $5 million funding cap, should submit an Application 
under this NOFA. The CDFI Fund will assess applicability of the $5 
million funding cap during the award selection phase based upon whether 
the Congressional waiver has been enacted at that time.
    2. Failure to Meet Reporting Requirements: The CDFI Fund will not 
consider an application submitted by an Applicant if the Applicant, or 
an Affiliate of the Applicant, is a prior Awardee or Allocatee under 
any CDFI Fund program and is not current on the reporting requirements 
set forth in a previously executed assistance, allocation, or award 
agreement(s), as of the applicable application deadline of this NOFA. 
Please note that the CDFI Fund only acknowledges the receipt of reports 
that are complete. As such, incomplete reports or reports that are 
deficient of required elements will not be recognized as having been 
received.
    3. Pending Resolution of Noncompliance: If an Applicant is a prior 
Awardee or Allocatee under any CDFI Fund program and if (i) it has 
submitted complete and timely reports to the CDFI Fund that demonstrate 
noncompliance with a previous assistance, allocation, or award 
agreement, and (ii) the CDFI Fund has yet to make a final determination 
as to whether the entity is in default of its previous assistance, 
allocation, or award agreement, the CDFI Fund will consider the 
Applicant's application under this NOFA pending full resolution, in the 
sole determination of the CDFI Fund, of the noncompliance. Further, if 
an Affiliate of the Applicant is a prior CDFI Fund Awardee or Allocatee 
and if such entity (i) has submitted complete and timely reports to the 
CDFI Fund that demonstrate noncompliance with a previous assistance, 
allocation, or award agreement and (ii) the CDFI Fund has yet to make a 
final determination as to whether the entity is in default of its 
previous assistance, allocation, or award agreement, the CDFI Fund will 
consider the Applicant's application under this NOFA pending full 
resolution, in the sole determination of the CDFI Fund, of the 
noncompliance.
    4. Default Status: The CDFI Fund will not consider an application 
submitted by an Applicant that is a prior Awardee or Allocatee under 
any CDFI Fund program if, as of the applicable application deadline of 
this NOFA, the CDFI Fund has made a final determination that such 
Applicant is in default of a previously executed assistance, 
allocation, or award agreement(s). Further, an entity is not eligible 
to apply for an award pursuant to this NOFA if, as of the applicable 
application deadline of this NOFA, the CDFI Fund has made a final 
determination that an Affiliate of the Applicant is a prior Awardee or 
Allocatee under any CDFI Fund program and has been determined by the 
CDFI Fund to be in default of a previously executed assistance, 
allocation, or award agreement(s). Such entities will be ineligible to 
apply for an award pursuant to this NOFA so long as the Applicant's, or 
its Affiliate's, prior award or allocation remains in default status or 
such other time period as specified by the CDFI Fund in writing.
    5. Termination in Default: The CDFI Fund will not consider an 
application submitted by an Applicant that is a prior Awardee or 
Allocatee under any CDFI Fund program if (i) within the 12-month period 
prior to the applicable application deadline of this NOFA, the CDFI 
Fund has made a final determination that such Applicant`s prior award 
or allocation terminated in default of a previously executed 
assistance, allocation, or award agreement(s), and (ii) the final 
reporting period end date for the applicable terminated assistance, 
allocation, or award agreement(s) falls within the 12-month period 
prior to the application deadline of this NOFA. Further, an entity is 
not eligible to apply for an award pursuant to this NOFA if (i) within 
the 12-month period prior to the applicable application deadline, the 
CDFI Fund has made a final determination that an Affiliate of the 
Applicant is a prior Awardee or Allocatee under any CDFI Fund program 
whose award or allocation terminated in default of a previously 
executed assistance, allocation, or award agreement(s), and (ii) the 
final reporting period end date for the applicable terminated 
assistance, allocation, or award agreement(s) falls within the 12-month 
period prior to the application deadline of this NOFA.
    6. Undisbursed Award Funds: The CDFI Fund will not consider an 
Applicant's application if the Applicant or an Affiliate of the 
Applicant is a prior Awardee under any CDFI Fund program and has 
undisbursed award funds (as defined below) as of this NOFA's 
application deadline. The Fund will include the combined undisbursed 
prior awards, as of this NOFAs application deadline, of the Applicant 
and affiliated entities, including those in which the affiliated entity 
Controls the Applicant, is Controlled by the Applicant, or shares 
common management officials with the Applicant as determined by the 
Fund.
    Undisbursed BEA Program award funds will be included in the 
calculation of undisbursed awards for the Applicant (and any 
Affiliates) from three to five calendar years prior to the end of the 
calendar year of this NOFA's application deadline. Thus, for purposes 
of this NOFA, undisbursed awards made in FYs 2005, 2006, and 2007 will 
be included in the calculation for the Applicant's undisbursed award 
amounts if the funds have not been disbursed as of this NOFA's 
application deadline.
    Undisbursed funds for the CDFI and NACA Programs will be calculated 
by adding all undisbursed award amounts made to the Applicant (and any 
Affiliates) two to five calendar years prior to the end of the calendar 
year of this NOFA. Therefore, undisbursed CDFI Program and NACA awards 
made in FYs 2005, 2006, 2007, and 2008 will be included in the 
undisbursed calculation as of this NOFA's application deadline.
    Undisbursed awards can not exceed five percent of the total 
includable awards for the Applicant's BEA/CDFI/NACA awards, as of this 
NOFA's application deadline. (The total ``includable'' award amount is 
the total award amount from the relevant Fund program.) Please refer to 
an example of this calculation on the Fund's Web site, found in the Q&A 
document for the FY 2011 Funding Round.
    The ``undisbursed award funds'' calculation does not include: (i) 
Tax credit allocation authority made available through the NMTC 
Program; (ii) award funds the Awardee has requested from the Fund by 
submitting a full and complete disbursement request before this NOFA's 
application deadline; (iii) award funds for an award that the Fund has 
terminated or de-obligated; or (iv) award funds for an award that does 
not have a fully executed assistance or award agreement. The Fund 
encourages Applicants to

[[Page 68030]]

request their undisbursed funds from the Fund at least 10 business days 
prior to this NOFA's application deadline.
    7. Contact the CDFI Fund: Applicants that are prior CDFI Fund 
Awardees are advised to: (i) Comply with requirements specified in 
assistance, allocation, and/or award agreement(s), and (ii) contact the 
CDFI Fund to ensure that all necessary actions are underway for the 
disbursement or deobligation of any outstanding balance of said prior 
award(s). An Applicant that is unsure about the disbursement status of 
any prior award should contact the CDFI Fund via e-mail at 
CDFI.disburseinquiries@cdfi.treas.gov.
    C. Matching Funds: Congress waived the matching funds requirements 
for the FY 2009 and the FY 2010 Funding Rounds, and it is possible that 
the matching funds requirements may be waived for the FY 2011 Funding 
Round as well. As of the publication date of this NOFA, however, such a 
waiver has not been enacted into law. Accordingly, the CDFI Fund 
encourages Applicants to include matching funds documentation as 
instructed in the application; if the matching funds waiver is enacted, 
the CDFI Fund will not consider matching funds documentation. An 
Applicant that does not include matching funds documentation in its 
application runs the risk of being determined to be ineligible for 
funding under the FY 2011 Funding Round if said matching funds waiver 
is not enacted. In light of the possibility of a waiver of the matching 
funds requirements, an Applicant who would not satisfy the matching 
funds requirements but is otherwise eligible under this NOFA should 
submit an application under this NOFA. The CDFI Fund will assess 
applicability of the matching funds requirements during the award 
selection phase based upon whether the Congressional waiver has been 
enacted at that time.
    Accordingly, subject to the immediately preceding paragraph:
    1. Applicants responding to this NOFA must obtain non-Federal 
matching funds from sources other than the Federal government on the 
basis of not less than one dollar for each dollar of FA funds provided 
by the CDFI Fund (matching funds are not required for TA grants). 
Matching funds must be at least comparable in form and value to the FA 
provided by the CDFI Fund. For example, if an Applicant is requesting a 
FA award from the CDFI Fund, the Applicant must show that it has 
obtained matching funds through commitment(s) from non-Federal sources 
that are at least equal to the amount requested from the CDFI Fund. 
Applicants cannot use matching funds from a prior FA award under the 
NACA or CDFI Program or under another Federal grant or award program to 
satisfy the matching funds requirement of this NOFA. If an Applicant 
seeks to use as matching funds monies received from an organization 
that was a prior Awardee under the NACA or CDFI Program, the CDFI Fund 
will deem such funds to be Federal funds, unless the funding entity 
establishes to the reasonable satisfaction of the CDFI Fund that such 
funds do not consist, in whole or in part, of NACA or CDFI Program 
funds or other Federal funds. For the purposes of this NOFA, BEA 
Program awards may not be used as matching funds. The CDFI Fund 
encourages Applicants to review the Regulations at 12 CFR 1805.500 et 
seq. and matching funds guidance materials on the CDFI Fund's Web site 
for further information.
    2. Due to funding constraints and the desire to quickly deploy CDFI 
Fund dollars, the CDFI Fund will not consider for a FA award any 
Applicant that has no matching funds in-hand or firmly committed as of 
the application deadline of this NOFA. An Applicant for a FA award must 
demonstrate that it has eligible matching funds equal to no less than 
25 percent of the amount of the FA award requested in-hand or firmly 
committed, on or after January 1, 2009, and on or before the 
application deadline. The CDFI Fund reserves the right to rescind all 
or a portion of a FA award and re-allocate the rescinded award amount 
to other qualified Applicant(s), if an Applicant fails to obtain in-
hand 100 percent of the required matching funds by March 14, 2012 (with 
required documentation of such receipt received by the CDFI Fund not 
later than March 31, 2012), or to grant an extension of such matching 
funds deadline for specific Applicants selected to receive FA awards, 
if the CDFI Fund deems it appropriate. For any Applicant that 
demonstrates that it has less than 100 percent of matching funds in-
hand or firmly committed as of the application deadline, the CDFI Fund 
will evaluate the Applicant's ability to raise the remaining matching 
funds by March 14, 2012.
    3. Matching Funds Terms Defined; Required Documentation. (a) 
``Matching funds in-hand'' means the Applicant has actually received 
the matching funds. If the matching funds are ``in-hand,'' the 
Applicant must provide the CDFI Fund with acceptable written 
documentation of the source, form, and amount of the matching funds 
(i.e., grant, loan, deposit, and equity investment). For a loan, the 
Applicant must provide the CDFI Fund with a copy of the loan agreement 
and promissory note. For a grant, the Applicant must provide the CDFI 
Fund with a copy of the grant letter or agreement for all grants of 
$50,000 or more. For an equity investment, the Applicant must provide 
the CDFI Fund with a copy of the stock certificate and any related 
shareholder agreement. Further, if the matching funds are ``in-hand'', 
the Applicant must provide the CDFI Fund with acceptable documentation 
that evidences its receipt of the matching funds proceeds, such as a 
copy of a check or a wire transfer statement.
    (b) ``Firmly committed matching funds'' means the Applicant has 
entered into or received a legally binding commitment from the matching 
funds source that the matching funds will be disbursed to the 
Applicant. If the matching funds are ``firmly committed,'' the 
Applicant must provide the CDFI Fund with acceptable written 
documentation to evidence the source, form, and amount of the firm 
commitment (and, in the case of a loan, the terms thereof), as well as 
the anticipated date of disbursement of the committed funds.
    4. The CDFI Fund may contact the matching funds source to discuss 
the matching funds and the documentation provided by the Applicant. If 
the CDFI Fund determines that any portion of the Applicant's matching 
funds is ineligible under this NOFA, the CDFI Fund, in its sole 
discretion, may permit the Applicant to offer alternative matching 
funds as a substitute for the ineligible matching funds; provided, 
however, that (i) the Applicant must provide acceptable alternative 
matching funds documentation within two business days of the CDFI 
Fund's request and (ii) the alternative matching funds documentation 
cannot increase the total amount of Financial Assistance requested by 
the Applicant.
    5. Special Rule for Insured Credit Unions: The Regulations allow an 
Insured Credit Union to use retained earnings to serve as matching 
funds for a FA grant in an amount equal to: (i) The increase in 
retained earnings that has occurred over the Applicant's most recent 
fiscal year; (ii) the annual average of such increases that has 
occurred over the Applicant's three most recent fiscal years; or (iii) 
the entire retained earnings that have been accumulated since the 
inception of the Applicant, as provided in the Regulations. For 
purposes of this NOFA, if option (iii) is used, the Applicant must 
increase its member and/or non-member shares or total loans outstanding 
by an amount that is equal to the amount of retained earnings that is 
committed as matching funds.

[[Page 68031]]

    This amount must be raised by the end of the Awardee's second 
performance period, as set forth in its Assistance Agreement, and will 
be based on amounts reported in the Applicant's Audited or Reviewed 
Financial Statements or NCUA Form 5300 Call Report. 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 that it has increased shares or loans by at least 25 
percent of the requested FA award amount between December 31, 2009 and 
December 31, 2010, as demonstrated by the corresponding NCUA report.

IV. Application and Submission Information

    A. MyCDFIFund Accounts: All Applicants must register user and 
organization accounts in myCDFIFund, the CDFI Fund's Internet-based 
interface. An Applicant must be registered as both a user and an 
organization in myCDFIFund as of the applicable application deadline in 
order to be considered to have submitted a complete application. As 
myCDFIFund is the CDFI Fund's primary means of communication with 
Applicants and Awardees, organizations must make sure that they update 
the contact information in their myCDFIFund accounts before the 
applicable application deadline. For more information on myCDFIFund, 
please see the ``Frequently Asked Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp.
    B. Form of Application Submission: Applicants must submit 
applications under this NOFA electronically. Applications sent by 
email, mail, facsimile, or other forms will not be accepted except in 
circumstances the CDFI Fund approves beforehand.
    C. Applications Submitted via Grants.gov: For the FY 2011 Funding 
Round, in compliance with Public Law 106-107 and Section 5(a) of the 
Federal Financial Assistance Management Improvement Act of 1999, the 
CDFI Fund is accepting applications submitted through the Grants.gov 
electronic system. Applicants are encouraged to start the registration 
process upon review of the NOFA at http://www.Grants.gov. The process 
may take several weeks to fully complete. See the following link for 
information on getting started on Grants.gov: http://grants.gov/assets/GrantsgovCoBrandBrochure8X11.pdf. Please note that the CDFI Fund will 
not accept applications through myCDFIFund.
    D. Application Content Requirements: Detailed application content 
requirements, including the required elements of the Comprehensive 
Business Plan, are found in the application and guidance. Each 
Applicant must provide, as part of its application submission, a Dun 
and Bradstreet Data Universal Numbering System (DUNS) number pursuant 
to OMB guidance (68 FR 38402). In addition, each application must 
include a valid and current Employer Identification Number (EIN). An 
electronic application that does not include an EIN is incomplete and 
cannot be transmitted to the CDFI Fund through Grants.gov. Applicants 
should allow sufficient time for the Internal Revenue Service (IRS) 
and/or Dun and Bradstreet to respond to inquiries and/or requests for 
identification numbers. Once an application is submitted, the Applicant 
will not be allowed to change any element of the application. The 
preceding sentences do not limit the CDFI Fund's ability to contact an 
Applicant for the purpose of obtaining clarifying or confirming 
application information.
    E. Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an 
agency may not conduct or sponsor a collection of information, and an 
individual is not required to respond to a collection of information, 
unless it displays a valid OMB control number. Pursuant to the 
Paperwork Reduction Act, the application has been assigned the 
following control number: 1559-0025.
    F. Application Deadlines: 1. The following are the deadlines for 
submission of the NACA Program Funding Application, the CDFI 
Certification Application, and the Certification of Material Events 
form:

                                     Table 2--FY 2011 NACA Program Deadlines
                                          [All eastern time deadlines]
----------------------------------------------------------------------------------------------------------------
            Document                Must be received by:          Deadlines for contacting CDFI Fund staff
----------------------------------------------------------------------------------------------------------------
CDFI Certification Application..  Thursday, December 2,    Wednesday, December 1, 2010 by 5 p.m.
                                   2010 by 5 p.m.
Certification of Material Events  Thursday, December 2,    Wednesday, December 1, 2010 by 5 p.m.
 Form.                             2010 by 5 p.m.
NACA Program Funding Application  Wednesday, December 22,  Monday, December 20, 2010 by 11:59 p.m.
                                   2010 by 11:59 p.m.
----------------------------------------------------------------------------------------------------------------

    2. Late Delivery: The CDFI Fund will neither accept a late 
application nor any portion of an application that is late; an 
application that is late, or for which any portion is late, will be 
rejected. The CDFI Fund will not grant exceptions or waivers. Any 
application that is deemed ineligible will not be returned to the 
Applicant.
    G. Intergovernmental Review: Not applicable.
    H. Funding Restrictions: For allowable uses of FA proceeds, please 
see the Regulations at 12 CFR 1805.301.

V. Application Review Information

    A. Format: Funding applications must be single-spaced and use a 12-
point font with 1-inch margins. Each section in the application that is 
scored has page limitations. Applicants are encouraged to read each 
section carefully and to remain within the page limitations for each 
section. The CDFI Fund will not consider responses beyond the specified 
page limitation in each section. Also, the CDFI Fund will read only 
information requested in the application and will not read attachments 
that have not been specifically requested in this NOFA or the 
application, such as the Applicant's five-year strategic or marketing 
plans.
    B. Criteria: The CDFI Fund will evaluate each application on a 100-
point scale using numeric scores with respect to the five sections 
required in the application. The CDFI Fund will score each section as 
indicated in the following table:

                  Table 3--Application Scoring Criteria
------------------------------------------------------------------------
                                                                Scoring
                     Application sections                        points
------------------------------------------------------------------------
Market Analysis..............................................         25
Business Strategy............................................         25
Community Development Performance & Effective Use............         20
Management...................................................         20
Financial Health & Viability.................................         10
------------------------------------------------------------------------


[[Page 68032]]

    C. Technical Assistance Proposal: Any Applicant applying for a TA 
grant, either alone or in conjunction with a request for a FA award, 
must complete a Technical Assistance Proposal (TAP) as part of its 
application. The TAP consists of a summary of the organizational 
improvements needed to achieve the objectives of the Comprehensive 
Business Plan, a budget, and a description of the requested goods and/
or services comprising the TA award request. The budget and 
accompanying narrative will be evaluated for the eligibility and 
appropriateness of the proposed uses of the TA grant (described above). 
In addition, if the Applicant identifies a capacity-building need 
related to any of the evaluation criteria above (for example, if the 
Applicant requires a market need analysis or a community development 
impact tracking/reporting system), the CDFI Fund will assess its plan 
to use the TA grant to address said needs.
    1. Non-Certified Applicants: An Applicant that is not a Certified 
Native CDFI and that requests TA to address certification requirements 
must explain how the requested TA grant will assist the Applicant in 
meeting the certification requirements. The CDFI Fund will assess the 
reasonableness of the plan to become certified (as specified above in 
Section III, Eligibility Information; A.3. Native CDFI Certification 
Requirements), taking into account the requested TA. For example, if 
the Applicant does not currently make loans and therefore does not meet 
the Financing Entity requirement, it might describe how the TA funds 
will be used to hire a consultant to develop underwriting policies and 
procedures to support the Applicant's ability to start its lending 
activity.
    2. Recurring Activities: An Applicant that requests a TA grant for 
recurring activities must clearly describe the benefit that would 
accrue to its capacity or to its Target Market(s) (such as plans for 
expansion of staff, market, products or annual conference attendance) 
as a result of the TA grant. If the Applicant is a prior CDFI Fund 
Awardee, it must describe how it has used the prior assistance and 
explain the need for additional CDFI Fund dollars over and above such 
prior assistance.
    D. Review and Selection Process: 1. Eligibility and Completeness 
Review: The CDFI Fund will review each application to determine whether 
it is complete and the Applicant meets the eligibility requirements set 
forth above. An incomplete application does not meet eligibility 
requirements and will be rejected. Any application that does not meet 
eligibility requirements will not be returned to the Applicant.
    2. Substantive Review: If an application is determined to be 
complete and the Applicant is determined to be eligible, the CDFI Fund 
will conduct the substantive review of the application in accordance 
with the criteria and procedures described in the Regulations, this 
NOFA, and the application and guidance. As part of the review process, 
the CDFI Fund may contact the Applicant by telephone, e-mail, mail, or 
through an on-site visit for the sole purpose of obtaining clarifying 
or confirming application information (such as statements of work, 
matching funds documentation, or DUNS numbers for example). After 
submitting its application, the Applicant will not be permitted to 
revise or modify its application in any way nor attempt to negotiate 
the terms of an award. If contacted for clarifying or confirming 
information, the Applicant must respond within the time parameters set 
by the CDFI Fund.
    3. Application Scoring; Ranking: (a) Application Scoring: The CDFI 
Fund will evaluate each application on a 100-point scale, comprising 
the five criteria categories described above, and assign numeric 
scores. An Applicant must receive a minimum score in each evaluation 
criteria in order to be considered for an award.
    (b) Evaluating Prior Award Performance: In the case of an Applicant 
that has previously received funding through any CDFI Fund program, the 
CDFI Fund will consider and will deduct points for: (i) The Applicant's 
noncompliance with any active award or award that terminated in the 
current calendar year in meeting its performance goals and measures, 
reporting deadlines, and other requirements set forth in the assistance 
or award agreement(s) with the CDFI Fund during the Applicant's two 
complete fiscal years prior to the application deadline of this NOFA; 
(ii) the Applicant's failure to make timely loan payments to the CDFI 
Fund during the Applicant's two complete fiscal years prior to the 
application deadline of this NOFA (if applicable); (iii) performance on 
any prior Assistance Agreement as part of the overall assessment of the 
Applicant's ability to carry out its Comprehensive Business Plan; and 
(iv) funds deobligated from a FY 2008, 2009, or 2010 FA award (if the 
Applicant is applying for a FA award under this NOFA) if (A) the amount 
of deobligated funds is at least $200,000 and (B) the deobligation 
occurred within the 12 months prior to the application deadline under 
this NOFA. Any award deobligations that result in a point deduction for 
an application submitted under this NOFA will not be counted against 
future applications for FA through the NACA Program. In the case of an 
Applicant that has previously received funding through any CDFI Fund 
program, the CDFI Fund will consider and may, in its discretion, deduct 
points for those Applicants that have in any proceeding instituted 
against the Applicant in, by, or before any court, governmental, or 
administrative body or agency received a final determination within the 
last three years indicating that the Applicant has discriminated on the 
basis of race, color, national origin, disability, age, marital status, 
receipt of income from public assistance, religion, or sex.
    (c) Ranking: The CDFI Fund then will rank the applications by their 
scores, from highest to lowest.
    4. Award Selection: The CDFI Fund will make its final award 
selections based on the rank order of Applicants by their scores and 
the amount of funds available. In the case of a tied score(s), 
Applicants will be ranked according to each Applicant's combined scores 
in the Market Analysis, Business Strategy, and Community Development 
Performance & Effective Use sections; then the score on the Financial 
Health and Viability section; then the score on the Management section. 
In addition, the CDFI Fund shall consider the institutional and 
geographic diversity of Applicants when making its funding decisions.
    5. Insured Native CDFIs: In the case of Insured Depository 
Institutions and Insured Credit Unions, the CDFI Fund will consider the 
views of the Appropriate Federal Banking Agencies. Throughout the award 
review process, the CDFI Fund will consult with the Appropriate Federal 
Banking Agency about the Applicant's financial safety and soundness. If 
the Appropriate Federal Banking 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. If it is determined the Applicant is 
incapable of meeting its obligations, the CDFI Fund reserves the right 
to deselect the Applicant from receiving an award. The CDFI Fund also 
reserves the right to require insured NACA Applicants to improve safety 
and soundness conditions prior to receiving an award disbursement. In 
addition, the CDFI Fund will take into consideration Community 
Reinvestment Act

[[Page 68033]]

assessments of Insured Depository Institutions and/or their Affiliates.
    6. Award Notification: Each Applicant will be informed of the CDFI 
Fund's award decision either through notification in the Applicant's 
myCDFIFund account, via e-mail to the Applicant's Authorized Official 
Representative. This includes notification to Applicants who are not 
receiving an award if the decision is based on reasons other than 
completeness and eligibility. The CDFI Fund will provide feedback in a 
format and within a timeframe depending on available resources.
    7. The CDFI Fund reserves the right to reject an application if 
information (including administrative errors) comes to the attention of 
the CDFI Fund that either adversely affects an Applicant's eligibility 
for an award, adversely affects the CDFI Fund's evaluation or scoring 
of an application, or indicates fraud or mismanagement on the part of 
an Applicant. If the CDFI Fund determines that any portion of the 
application is incorrect in any 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 said changes materially affect the CDFI Fund's award 
decisions, the CDFI Fund will provide information regarding the changes 
through the CDFI Fund's Web site. There is no right to appeal the CDFI 
Fund's award decisions. The CDFI Fund's award decisions are final.

VI. Award Administration Information

    A. Assistance Agreement: Each Applicant that is selected to receive 
an award under this NOFA must enter into an Assistance Agreement with 
the CDFI Fund in order to receive disbursement of award proceeds. The 
Assistance Agreement will set forth certain required terms and 
conditions of the award, which will include, but not be limited to: (i) 
The amount of the award; (ii) the type of award; (iii) the approved 
uses of the award; (iv) the approved eligible market to which the 
funded activity must be targeted; (v) performance goals and measures; 
and (vi) reporting requirements for all Awardees. Applicants should 
review the OMB Guidance: Requirements for Federal Funding 
Accountability and Transparency Act Implementation (2 CFR part 170) to 
ensure that they have processes and systems in place to comply with the 
reporting obligations. FA and FA/TA Assistance Agreements under this 
NOFA generally will have three-year performance periods; TA-only 
Assistance Agreements generally will have two-year performance periods. 
If prior to entering into an Assistance Agreement with the CDFI Fund, 
information (including administrative error) comes to the attention of 
the CDFI Fund that either adversely affects the Awardee's eligibility 
for an award, or adversely affects the CDFI Fund's evaluation of the 
Awardee's application, or indicates fraud or mismanagement on the part 
of the Awardee, the CDFI Fund may, in its discretion and without 
advance notice to the Awardee, terminate the award or take such other 
actions as it deems appropriate. Moreover, if prior to entering into an 
Assistance Agreement with the CDFI Fund, the CDFI Fund determines that 
the Awardee or an Affiliate of the Awardee is in default of any 
Assistance Agreement previously entered into with the CDFI Fund, the 
CDFI Fund may, in its discretion and without advance notice to the 
Awardee, either terminate the award or take such other actions as it 
deems appropriate. For purposes of this section, the CDFI Fund will 
consider an Affiliate to mean any entity that meets the definition of 
Affiliate in the Regulations. The CDFI Fund reserves the right, in its 
sole discretion, to rescind an award if the Awardee fails to return the 
Assistance Agreement, signed by the Authorized Representative of the 
Awardee, and/or provide the CDFI Fund with any other requested 
documentation, within the deadlines set by the CDFI Fund. Each Awardee 
must provide the CDFI Fund with a good standing certificate (or 
equivalent documentation) from its State (or jurisdiction) of 
incorporation.
    1. Failure to Meet Reporting Requirements: If an Awardee or an 
Affiliate of the Awardee is a prior Awardee or Allocatee under any CDFI 
Fund program and is not current on the reporting requirements set forth 
in the previously executed assistance, allocation, or award 
agreement(s), as of the date of the Assistance Agreement, the CDFI Fund 
reserves the right, in its sole discretion, to delay entering into an 
Assistance Agreement until said prior Awardee or Allocatee is current 
on the reporting requirements in any previously executed assistance, 
allocation, or award agreement(s). Please note that the CDFI Fund only 
acknowledges the receipt of reports that are complete. As such, 
incomplete reports or reports that are deficient of required elements 
will not be recognized as having been received. If said prior Awardee 
or Allocatee is unable to meet this requirement within the timeframe 
set by the CDFI Fund, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Assistance Agreement and the 
award made under this NOFA.
    2. Pending Resolution of Noncompliance: If an Applicant is a prior 
Awardee or Allocatee under any CDFI Fund program and if: (i) It has 
submitted complete and timely reports to the CDFI Fund that demonstrate 
noncompliance with a previous assistance, award, or allocation 
agreement; and (ii) the CDFI Fund has yet to make a final determination 
as to whether the entity is in default of its previous assistance, 
award, or allocation agreement, the CDFI Fund reserves the right, in 
its sole discretion, to delay entering into an Assistance Agreement, 
pending full resolution, in the sole determination of the CDFI Fund, of 
the noncompliance. Further, if an Affiliate of the Awardee is a prior 
CDFI Fund Awardee or Allocatee and if such entity (i) has submitted 
complete and timely reports to the CDFI Fund that demonstrate 
noncompliance with a previous assistance, award, or allocation 
agreement, and (ii) the CDFI Fund has yet to make a final determination 
as to whether the entity is in default of its previous assistance, 
award, or allocation agreement, the CDFI Fund reserves the right, in 
its sole discretion, to delay entering into an Assistance Agreement, 
pending full resolution, in the sole determination of the CDFI Fund, of 
the noncompliance. If the prior Awardee or Allocatee in question is 
unable to satisfactorily resolve the issues of noncompliance, in the 
sole determination of the CDFI Fund, the CDFI Fund reserves the right, 
in its sole discretion, to terminate and rescind the Assistance 
Agreement and the award made under this NOFA.
    3. Default Status: If, at any time prior to entering into an 
Assistance Agreement through this NOFA, the CDFI Fund has made a final 
determination that an Awardee that is a prior Awardee or Allocatee 
under any CDFI Fund program is in default of a previously executed 
assistance, allocation, or award agreement(s), the CDFI Fund reserves 
the right, in its sole discretion, to delay entering into an Assistance 
Agreement, until said prior Awardee or Allocatee has submitted a 
complete and timely report demonstrating full compliance with said 
agreement within a timeframe set by the CDFI Fund. Further, if at any 
time prior to entering into an Assistance Agreement through this NOFA, 
the CDFI Fund has made a final determination that an Affiliate of the 
Awardee is a prior Awardee or Allocatee under any CDFI Fund

[[Page 68034]]

program and is in default of a previously executed assistance, 
allocation, or award agreement(s), the CDFI Fund reserves the right, in 
its sole discretion, to delay entering into an Assistance Agreement, 
until said prior Awardee or Allocatee has submitted a complete and 
timely report demonstrating full compliance with said agreement within 
a timeframe set by the CDFI Fund. If said prior Awardee or Allocatee is 
unable to meet this requirement and the CDFI Fund has not specified in 
writing that the prior Awardee or Allocatee is otherwise eligible to 
receive an Award under this NOFA, the CDFI Fund reserves the right, in 
its sole discretion, to terminate and rescind the Assistance Agreement 
and the award made under this NOFA.
    4. Termination in Default: If (i) within the 12-month period prior 
to entering into an Assistance Agreement through this NOFA, the CDFI 
Fund has made a final determination that an Awardee is a prior Awardee 
or Allocatee under any CDFI Fund program whose award or allocation was 
terminated in default of such prior agreement, and (ii) the final 
reporting period end date for the applicable terminated agreement falls 
within the 12-month period prior to the application deadline of this 
NOFA, the CDFI Fund reserves the right, in its sole discretion, to 
delay entering into or determine not to enter into an Assistance 
Agreement. Further, if (i) within the 12-month period prior to entering 
into an Assistance Agreement through this NOFA, the CDFI Fund has made 
a final determination that an Affiliate of the Awardee is a prior 
Awardee or Allocatee under any CDFI Fund program whose award or 
allocation was terminated in default of such prior agreement, and (ii) 
the final reporting period end date for the applicable terminated 
agreement falls within the 12-month period prior to the application 
deadline of this NOFA, the CDFI Fund reserves the right, in its sole 
discretion, to delay entering into or determine not to enter into an 
Assistance Agreement.
    5. Compliance with Federal Anti-Discrimination Laws: If the Awardee 
has previously received funding through any CDFI Fund program, and if 
at any time prior to entering into an Assistance Agreement through this 
NOFA, the CDFI Fund is made aware of a final determination, made within 
the last three years, in any proceeding instituted against the Awardee 
in, by, or before any court, governmental, or administrative body or 
agency, declaring that the Awardee has discriminated on the basis of 
race, color, national origin, disability, age, marital status, receipt 
of income from public assistance, religion, or sex, the CDFI Fund 
reserves the right, in its sole discretion, to terminate and rescind 
the award made under this NOFA.
    B. Reporting: 1. Reporting Requirements: The CDFI Fund will collect 
information, on at least an annual basis, from each Awardee including, 
but not limited to, an Annual Report that comprises the following 
components: (i) Financial Reports (including an OMB A-133 audit, as 
applicable; however Financial Reports are not required of Sponsoring 
Entities); (ii) Institution Level Report; (iii) Transaction Level 
Report (for Awardees receiving FA awards); (iv) Financial Status Report 
form SF-269/SF-425 (for Awardees receiving TA grants); (v) Uses of 
Financial Assistance (for Awardees receiving FA awards); (vi) 
Explanation of Noncompliance (as applicable); and (vii) such other 
information as the CDFI Fund may require. Each Awardee is responsible 
for the timely and complete submission of the Annual Report, even if 
all or a portion of the documents actually is completed by another 
entity or signatory to the Assistance Agreement. If such other entities 
or signatories are required to provide Institution Level Reports, 
Transaction Level Reports, Financial Reports, or other documentation 
that the CDFI Fund may require, the Awardee is responsible for ensuring 
that the information is submitted timely and complete. The CDFI Fund 
reserves the right to contact such additional entities or signatories 
to the Assistance Agreement and require that additional information and 
documentation be provided. The CDFI Fund will use such information to 
monitor each Awardee's compliance with the requirements set forth in 
the Assistance Agreement and to assess the impact of the NACA Program. 
The Institution Level Report and the Transaction Level Report must be 
submitted through the CDFI Fund's Web-based data collection system, the 
Community Investment Impact System (CIIS). The Financial Reports may be 
submitted through CIIS. All other components of the Annual Report may 
be submitted electronically, as directed, by the CDFI Fund. 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 Awardees. Furthermore, in order to ensure compliance 
with reporting requirements, all Awardees will be required to 
participate in a post-award training session on the CDFI Fund's 
reporting requirements. Awardees who fail to participate in such 
training run the risk of having the award rescinded or future 
applications penalized by point deductions.
    2. Accounting: The CDFI Fund will require each Awardee that 
receives FA and TA awards through this NOFA to account for and track 
the use of said FA and TA awards. This means that for every dollar of 
FA and TA awards received from the CDFI Fund, the Awardee will be 
required to inform the CDFI Fund of its uses. This will require 
Awardees to establish separate administrative and accounting controls, 
subject to the applicable OMB Circulars. The CDFI Fund will provide 
guidance to Awardees outlining the format and content of the 
information to be provided on an annual basis, outlining and describing 
how the funds were used. Each Awardee that receives an award must 
provide the CDFI Fund with the required complete and accurate Automated 
Clearinghouse (ACH) form for its bank account prior to award closing 
and disbursement.

VII. Agency Contacts

    A. The CDFI Fund will respond to questions and provide support 
concerning this NOFA and the funding application between the hours of 9 
a.m. and 5 p.m. ET, starting the date of the publication of this NOFA 
through three business days prior to the application deadline. The CDFI 
Fund will not respond to questions or provide support concerning the 
applications that are received after 5 p.m. ET on said dates, until 
after the funding application deadline. Applications and other 
information regarding the CDFI Fund and its programs may be obtained 
from the CDFI Fund's Web site at http://www.cdfifund.gov. The CDFI Fund 
will post responses on its Web site to questions of general 
applicability regarding the NACA Program.
    B. The CDFI Fund's contact information is as follows:

[[Page 68035]]



                                          Table 4--Contact Information
----------------------------------------------------------------------------------------------------------------
                                             Telephone  number
             Type of question                (not toll free) *                  E-mail addresses
----------------------------------------------------------------------------------------------------------------
NACA Program..............................        202-622-6355  cdfihelp@cdfi.treas.gov.
Certification, Compliance Monitoring and          202-622-6330  cme@cdfi.treas.gov.
 Evaluation.
Information Technology Support............        202-622-2455  ithelpdesk@cdfi.treas.gov.
----------------------------------------------------------------------------------------------------------------
* Fax number for all offices: 202-622-7754.

    C. Information Technology Support: People who have visual or 
mobility impairments that prevent them from creating a Target Market 
map using the CDFI Fund's Web site should call (202) 622-2455 for 
assistance (this is not a toll free number).
    D. Communication with the CDFI Fund: The CDFI Fund will use the 
myCDFIFund Internet interface to communicate with Applicants and 
Awardees, using the contact information maintained in their respective 
myCDFIFund accounts. Therefore, the Applicant and any Subsidiaries, 
signatories, and Affiliates must maintain accurate contact information 
(including contact person and authorized representative, e-mail 
addresses, fax numbers, phone numbers, and office addresses) in its 
myCDFIFund account(s). For more information about myCDFIFund (which 
includes information about the CDFI Fund's Community Investment Impact 
System), please see the Help documents posted at http://www.cdfifund.gov/ciis/accessingciis.pdf.

VIII. Information Sessions and Outreach

    The CDFI Fund may conduct webinars or host information sessions for 
organizations interested in applying to, or learning about, the CDFI 
Fund's programs. For further information, please visit the CDFI Fund's 
Web site at http://www.cdfifund.gov.

    Authority:  12 U.S.C. 4703, 4704, 4706, 4707, 4717; 12 CFR part 
1805.

    Dated: October 29, 2010.
Donna J. Gambrell,
Direc