Notice of Funds Availability (NOFA) Inviting Applications for the FY 2015 Funding Round of the Bank Enterprise Award Program (BEA Program), 25769-25780 [2015-10432]

Download as PDF Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices The exemptions are extended subject to the following conditions: (1) That each individual has a physical examination every year (a) by an ophthalmologist or optometrist who attests that the vision in the better eye continues to meet the requirements in 49 CFR 391.41(b)(10), and (b) by a medical examiner who attests that the individual is otherwise physically qualified under 49 CFR 391.41; (2) that each individual provides a copy of the ophthalmologist’s or optometrist’s report to the medical examiner at the time of the annual medical examination; and (3) that each individual provide a copy of the annual medical certification to the employer for retention in the driver’s qualification file and retains a copy of the certification on his/her person while driving for presentation to a duly authorized Federal, State, or local enforcement official. Each exemption will be valid for two years unless rescinded earlier by FMCSA. The exemption will be rescinded if: (1) The person fails to comply with the terms and conditions of the exemption; (2) the exemption has resulted in a lower level of safety than was maintained before it was granted; or (3) continuation of the exemption would not be consistent with the goals and objectives of 49 U.S.C. 31136(e) and 31315. III. Basis for Renewing Exemptions Under 49 U.S.C. 31315(b)(1), an exemption may be granted for no longer than two years from its approval date and may be renewed upon application for additional two year periods. In accordance with 49 U.S.C. 31136(e) and 31315, each of the 10 applicants has satisfied the entry conditions for obtaining an exemption from the vision requirements (74 FR 19267; 74 FR 28094; 76 FR 32016; 78 FR 32703). Each of these 10 applicants has requested renewal of the exemption and has submitted evidence showing that the vision in the better eye continues to meet the requirement specified at 49 CFR 391.41(b)(10) and that the vision impairment is stable. In addition, a review of each record of safety while driving with the respective vision deficiencies over the past two years indicates each applicant continues to meet the vision exemption requirements. These factors provide an adequate basis for predicting each driver’s ability to continue to drive safely in interstate commerce. Therefore, FMCSA concludes that extending the exemption for each renewal applicant for a period of two years is likely to achieve a level of safety equal to that existing without the exemption. IV. Public Participation and Request for Comments FMCSA encourages you to participate by submitting comments and related materials. Submitting Comments If you submit a comment, please include the docket number for this notice (FMCSA–2008–0106; FMCSA– 2009–0086), indicate the specific section of this document to which each comment applies, and provide a reason for each suggestion or recommendation. You may submit your comments and material online or by fax, mail, or hand delivery, but please use only one of these means. FMCSA recommends that you include your name and a mailing address, an email address, or a phone number in the body of your document so the Agency can contact you if it has questions regarding your submission. To submit your comment online, go to http://www.regulations.gov and put the docket number, ‘‘FMCSA–2008–0106; FMCSA–2009–0086’’ in the ‘‘Keyword’’ box, and click ‘‘Search.’’ When the new screen appears, click on ‘‘Comment Now!’’ button and type your comment into the text box in the following screen. Choose whether you are submitting your comment as an individual or on behalf of a third party and then submit. If you submit your comments by mail or hand delivery, submit them in an unbound format, no larger than 81⁄2 by 11 inches, suitable for copying and electronic 25769 filing. If you submit comments by mail and would like to know that they reached the facility, please enclose a stamped, self-addressed postcard or envelope. FMCSA will consider all comments and material received during the comment period and may change this notice based on your comments. Viewing Comments and Documents To view comments, as well as any documents mentioned in this preamble as being available in the docket, go to http://www.regulations.gov and in the search box insert the docket number, ‘‘FMCSA–2008–0106; FMCSA–2009– 0086’’ in the ‘‘Keyword’’ box and click ‘‘Search.’’ Next, click ‘‘Open Docket Folder’’ button choose the document listed to review. If you do not have access to the Internet, you may view the docket online by visiting the Docket Management Facility in Room W12–140 on the ground floor of the DOT West Building, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., e.t., Monday through Friday, except Federal holidays. Issued on: April 29, 2015. Larry W. Minor, Associate Administrator for Policy. [FR Doc. 2015–10445 Filed 5–4–15; 8:45 am] BILLING CODE 4910–EX–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Notice of Funds Availability (NOFA) Inviting Applications for the FY 2015 Funding Round of the Bank Enterprise Award Program (BEA Program) Announcement Type: Announcement of funding opportunity. Funding Opportunity Number: CDFI– 2015–BEA. Catalog of Federal Domestic Assistance (CFDA) Number: 21.021. KEY DATES: TABLE 1—FY 2015 BEA PROGRAM FUNDING ROUND KEY DATES FOR APPLICANTS asabaliauskas on DSK5VPTVN1PROD with NOTICES Description Deadline Time (Eastern daylight time—EDT) Last day to contact BEA Program staff ............... June 11, 2015 ........ 5:00 p.m. EDT ....... Last day to contact Certification, Compliance Monitoring and Evaluation staff. Application Part I: BEA Program Application Due Date (Forms include: SF–424 Mandatory, Environmental Review Form, Certifications and Excel charts). June 11, 2015 ........ 5:00 p.m. EDT ....... June 15, 2015 ........ 11:59 p.m. EDT ..... VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 Submission method CDFI Fund Helpdesk: 202–653–0421 cdfihelp@cdfi.treas.gov. CDFI Fund Helpdesk: 202–653–0421 cdfihelp@cdfi.treas.gov. Electronically via Grants.gov. E:\FR\FM\05MYN1.SGM 05MYN1 or or 25770 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices TABLE 1—FY 2015 BEA PROGRAM FUNDING ROUND KEY DATES FOR APPLICANTS—Continued Description Deadline Time (Eastern daylight time—EDT) Last day to contact IT Help Desk ........................ June 17, 2015 ........ 5:00 p.m. EDT ....... Application Part II: myCDFIFund Due Date: (Includes: myCDFIFund account registration, BEA Signature Page and Documentation of Qualified Activities). June 17, 2015 ........ 5:00 p.m. EDT ....... This NOFA is issued in connection with the fiscal year (FY) 2015 funding round of the Bank Enterprise Award Program (BEA Program). The BEA Program is administered by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund awards formula-based grants to depository institutions that are insured by the Federal Deposit Insurance Corporation (FDIC) for increasing their levels of loans, investments, service activities, and technical assistance within Distressed Communities, and financial assistance to Community Development Financial Institutions (CDFIs) through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, during a specified period. SUMMARY: asabaliauskas on DSK5VPTVN1PROD with NOTICES I. Program Description A. History: The CDFI Fund was established by the Riegle Community Development Banking and Financial Institutions Act of 1994 to promote economic revitalization and community development through investment in and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has awarded over $2 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program (CDFI Program), the Native American CDFI Assistance Program (NACA Program), the BEA Program, the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI Fund has allocated $40 billion in tax credit allocation authority through the New Markets Tax Credit Program (NMTC Program) and has obligated $525 million in bond guarantees through the CDFI Bond Guarantee Program. The BEA Program complements the community development activities of banks and thrifts (collectively referred to as banks for purposes of this Notice) by providing financial incentives to expand investments in CDFIs and to VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 increase lending, investment, and service activities within Distressed Communities. Providing monetary awards to banks for increasing their community development activities leverages the CDFI Fund’s dollars and puts more capital to work in Distressed Communities throughout the nation. B. Priorities: Through the BEA Program, the CDFI Fund specifies the following priorities: 1. Estimated award amounts for Applicants that are CDFIs will be equal to three times the award percentages for activities undertaken by Applicants that are not CDFIs; 2. Priority Factors based on Applicant’s asset size, as described in Section V.D. of this NOFA (‘‘Application Review Information: Priority Factors’’); and 3. Priority of awards: The CDFI Fund will rank Applicants in each category of Qualified Activity according to the priorities described in Section V.F.4 of this NOFA (‘‘Application Review Information: Award Percentages, Award Amounts, Application Review Process, Selection Process, Programmatic Financial Risk, and Application Rejection: Selection Process’’). C. Baseline Period and Assessment Period dates: A BEA Program Award is based on an Applicant’s increases in Qualified Activities from the Baseline Period to the Assessment Period. For the FY 2015 funding round, the Baseline Period is calendar year 2013 (January 1, 2013 through December 31, 2013), and the Assessment Period is calendar year 2014 (January 1, 2014 through December 31, 2014). If Qualified Activities in a specific category result in a decrease in activity from the Baseline Period to the Assessment Period, there is no need to report the activity. D. Authorizing Statutes and Regulations: The BEA Program was authorized by the Bank Enterprise Award Act of 1991, as amended. The regulations governing the BEA Program can be found at 12 CFR part 1806 (Interim Rule). The Interim Rule provides guidance on evaluation criteria and other requirements of the BEA Program. Detailed BEA Program PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 Submission method CDFI Fund Helpdesk: 202–653–0421 cdfihelp@cdfi.treas.gov. Electronically via myCDFIFund. or requirements are also found in the Application associated with this NOFA. The CDFI Fund encourages interested parties and Applicants to review the Interim Rule, this NOFA, the Application, and the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Requirements) for a complete understanding of the program. Capitalized terms in this NOFA are defined in the authorizing statute, the Interim Rule, this NOFA, the Application, and the Uniform Requirements. Details regarding Application content requirements are found in the Application and related materials. Application materials can be found on Grants.gov and the CDFI Fund’s Web site at www.cdfifund.gov/ bea. E. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR 200): In December 2014, the Department of the Treasury published a final rule, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR part 1000) (Uniform Requirements), which adopted the government-wide framework for grants management codified by the Office of Management and Budget (OMB) at 2 CFR part 200, combining several OMB guidance circulars, reducing administrative burden for award Recipients, and reducing the risk of waste, fraud and abuse of Federal financial assistance. The Uniform Requirements establish financial, administrative, procurement, and program management standards that Federal award-making agencies, including the CDFI Fund, and award Recipients must follow. When evaluating award applications, awarding agencies must evaluate the risks to the program posed by each applicant, and each applicant’s merits and eligibility. These requirements are designed to ensure that applicants for Federal assistance receive a fair and consistent review prior to an award decision. This E:\FR\FM\05MYN1.SGM 05MYN1 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices review will assess items such as the Applicant’s financial stability, quality of management systems, history of performance, and audit findings. In addition, the Uniform Requirements include guidance on audit requirements and other award requirements with which award Recipients must comply. F. Funding limitations: The CDFI Fund reserves the right to fund, in whole or in part, any, all, or none of the Applications submitted in response to this NOFA. The CDFI Fund also reserves the right to reallocate funds from the amount that is anticipated to be available through this NOFA to other CDFI Fund programs, or reallocate remaining funds to a future BEA Program funding round, particularly if the CDFI Fund determines that the number of awards made through this NOFA is fewer than projected. II. Federal Award Information asabaliauskas on DSK5VPTVN1PROD with NOTICES A. Funding Availability 1. FY 2015 Funding Round and Award Amounts: The CDFI Fund expects to award approximately $18 million in FY 2015 BEA Program Awards in appropriated funds under this NOFA. The CDFI Fund reserves the right to award in excess of said funds under this NOFA, provided that the appropriated funds are available. The CDFI Fund reserves the right to impose a maximum Award amount; however, under no circumstances will an Award be higher than $2 million for any Recipient. The CDFI Fund also reserves the right to impose a minimum Award amount due to availability of funds. 2. Anticipated Start Date and Period of Performance: The CDFI Fund anticipates the period of performance for the FY 2015 Funding Round will begin in the Fall of calendar year 2015. Specifically, the period of performance begins with the date the CDFI Fund issues the notice of award and will conclude one (1) full calendar year after the date of the notice of award, during which the Recipient must meet the performance goals set forth in the Award Agreement. B. Types of Awards: BEA Program Awards are made in the form of grants. C. Eligible Activities: Eligible Activities for the BEA Program are referred to as Qualified Activities and are defined in the Interim Rule to include CDFI Related Activities, Distressed Community Financing Activities, and Service Activities (12 CFR 1806.103). It is the explicit policy of the CDFI Fund that BEA Program Awards may not be used by Recipients to recover overhead or indirect costs. Each of the Qualified Activities will be VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 ineligible for indirect costs and an associated indirect cost rate. CDFI Related Activities (12 CFR 1806.103(p)) include Equity Investments, Equity-Like Loans, and CDFI Support Activities. Distressed Community Financing Activities (12 CFR 1806.103(u)) include Affordable Housing Loans, Affordable Housing Development Loans and related Project Investments; Education Loans; Commercial Real Estate Loans and related Project Investments; Home Improvement Loans; Small Business Loans and related Project Investments, and Small Dollar Consumer Loans. Service Activities (12 CFR 1806.103(oo)) include Deposit Liabilities, Financial Services, Community Services, Targeted Financial Services, and Targeted Retail Savings/Investment Products. When calculating BEA Program Award amounts, the CDFI Fund will only consider the amount of a Qualified Activity that has been fully disbursed or, in the case of a partially disbursed Qualified Activity, will only consider the amount that an Applicant reasonably expects to disburse for a Qualified Activity within 12 months from the end of the Assessment Period. Subject to the requirements outlined in Section VII. B.1. of this NOFA, in the case of Commercial Real Estate Loans and related Project Investments, the total principal amount of the transaction must be $10 million or less to be considered a Qualified Activity. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, may consider transactions with a total principal value of over $10 million, subject to review. An activity funded with prior BEA Program Award dollars, or funded to satisfy requirements of a BEA Program Award Agreement from a prior Award, shall not constitute a Qualified Activity for the purposes of calculating or receiving an Award. D. Designation of Distressed Community: Each CDFI Partner that is the recipient of CDFI Support Activities from an Applicant must designate a Distressed Community. CDFI Partners that receive Equity Investments, EquityLike Loans or Grants are not required to designate a Distressed Community. Applicants applying for a BEA Program Award for performing Distressed Community Financing Activities or Service Activities must verify that addresses of both Baseline and Assessment Period activities are in Distressed Communities when completing their Application. Please note that a Distressed Community as defined by the BEA Program is not necessarily the same as an Investment Area as defined by the CDFI Program or a Low-Income PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 25771 Community as defined by the NMTC Program. 1. Definition of Distressed Community: A Distressed Community must meet certain minimum geographic area and eligibility requirements, which are defined in the Interim Rule at 12 CFR 1806.103(t) and more fully described in 12 CFR 1806.401. Applicants should use the CDFI Fund’s Information Mapping System (CIMS3) to determine whether a Baseline Period activity or Assessment Period activity is located in a qualified Distressed Community. 2. Distressed Community Designation by a CDFI Partner: A CDFI Partner (as appropriate) shall designate an area as a Distressed Community by: a. Selecting a census tract that meets the minimum area and eligibility requirements; or by b. selecting two or more contiguous census tracts that, in the aggregate, meet minimum area and eligibility requirements set forth in paragraph (1) of this section. A CDFI Partner designates a Distressed Community by submitting a map of the Distressed Community as described in the BEA Program Application. CDFI Partners must use CIMS3 to designate a Distressed Community. CIMS3 is accessed through myCDFIFund and contains step-by-step instructions on how to create and save the aforementioned map of the Distressed Community. myCDFIFund is an electronic interface that is accessed through the CDFI Fund’s Web site (www.cdfifund.gov). Instructions for registering with myCDFIFund are available on the CDFI Fund’s Web site. If you have any questions or problems with registering, please contact the CDFI Fund IT HelpDesk by telephone at (202) 653–0300, or by email to ITHelpDesk@ cdfi.treas.gov. 3. Distressed Community Determination by a BEA Applicant: A BEA Applicant shall determine an area is a Distressed Community by: a. Selecting a census tract where the Qualified Activity occurred that meets the minimum area and eligibility requirements; or b. selecting the census tract where the Qualified Activity occurred, plus one or more census tracts directly contiguous to where the Qualified Activity occurred that when considered in the aggregate, meet the minimum area and eligibility requirements set forth in paragraph (1) of this section. E. Award Agreement: Each Recipient under this NOFA must sign an Award Agreement prior to disbursement by the CDFI Fund of the Award proceeds. The Award Agreement contains the terms E:\FR\FM\05MYN1.SGM 05MYN1 25772 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices III. Eligibility Information and conditions of the Award. For further information, see Section VI of this NOFA. A. Eligible Applicants: For the purposes of this NOFA, the following table sets forth the eligibility criteria to receive an award from the CDFI Fund. TABLE 2—ELIGIBILITY REQUIREMENTS FOR APPLICANTS Criteria Description Eligible Applicants ...................................... Eligible Applicants for the BEA Program must be Insured Depository Institutions, as defined in Section 3 of the Federal Deposit Insurance Act 12 U.S.C. 1813(c)(2). For the FY 2015 funding round, an Applicant must be FDIC-insured as of December 31, 2014 to be eligible for consideration for a BEA Program Award under this NOFA. The depository institution holding company of an Insured Depository Institution may not apply on behalf of an Insured Depository Institution. Applications received from depository institution holding companies will be disqualified. For the FY 2015 funding round, an eligible certified-CDFI Applicant is an Insured Depository Institution that was certified as a CDFI as of December 31, 2014 and that maintains its status as a certified CDFI at the time BEA Program Awards are announced under this NOFA. No CDFI Applicant may receive a FY 2015 BEA Program Award if it has: (1) An application pending for assistance under the FY 2015 round of the CDFI Program; (2) been awarded assistance from the CDFI Fund under the CDFI Program within the 12-month period prior to the date of the FY 2015 notice of award issued by the CDFI Program; or (3) ever received assistance under the CDFI Program for the same activities for which it is seeking a FY 2015 BEA Program Award. Please note that Applicants may apply for both a CDFI Program Award and a BEA Program Award in FY 2015; however, receiving a FY 2015 CDFI Program award removes an Applicant from eligibility for a FY 2015 BEA Program Award. The CDFI Fund will conduct a debarment check and will not consider an Application submitted by an Applicant if the Applicant is delinquent on any Federal debt. The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The Do Not Pay Business Center provides delinquency information to the CDFI Fund to assist with the debarment check. CDFI Applicant ........................................... Debarment/Do Not Pay Verification .......... Prior Award Recipients: The previous success of an Applicant in any of the CDFI Fund’s programs will not be considered under this NOFA. Prior BEA Program Award Recipients and prior Award Recipients of other CDFI Fund programs are eligible to apply under this NOFA, except as noted in the following table: TABLE 3—ELIGIBILITY REQUIREMENTS FOR APPLICANTS WHICH ARE PRIOR AWARD RECIPIENTS Criteria Description Pending resolution of noncompliance ....... If an Applicant that is a prior Award Recipient or Allocatee under any CDFI Fund program: (i) Has submitted reports to the CDFI Fund that demonstrate noncompliance with a previous assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous 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. The CDFI Fund will not consider an Application submitted by an Applicant that is a prior CDFI Fund Award Recipient 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 agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee. Such entities will be ineligible to apply for an Award pursuant to this NOFA so long as the Applicant’s prior award or allocation remains in default status or such other time period as specified by the CDFI Fund in writing. For the purposes of this section, the term ‘‘undisbursed funds’’ is defined as: (i) In the case of prior BEA Program Award(s), any balance of Award funds equal to or greater than five percent of the total prior BEA Program Award(s) that remains undisbursed more than three years after the end of the calendar year in which the CDFI Fund signed an Award Agreement with the Award Recipient, or (ii) in the case of prior CDFI Program or other CDFI Fund program award(s), any balance of award funds equal to or greater than five percent of the total prior award(s) that remains undisbursed more than two years after the end of the calendar year in which the CDFI Fund signed the applicable assistance agreement with the Award Recipient. The term ‘‘undisbursed funds’’ does not include (i) tax credit allocation authority allocated through the NMTC Program; (ii) any award funds for which the CDFI Fund received a full and complete disbursement request from the Award Recipient as of the Application deadline of this NOFA; (iii) an award that does not have a fully executed award agreement; or (iv) any award funds for an award that has been terminated, expired, rescinded, or de-obligated by the CDFI Fund. Default status ............................................. asabaliauskas on DSK5VPTVN1PROD with NOTICES Undisbursed funds ..................................... VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 E:\FR\FM\05MYN1.SGM 05MYN1 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices 25773 TABLE 3—ELIGIBILITY REQUIREMENTS FOR APPLICANTS WHICH ARE PRIOR AWARD RECIPIENTS—Continued Criteria Description The CDFI Fund will not consider an Application submitted by an Applicant that is a prior CDFI Fund award Recipient under any CDFI Fund program if the Applicant has a balance of undisbursed funds under said prior award(s), as of the Application deadline of this NOFA. Further, an entity is not eligible to apply for an Award pursuant to this NOFA if an Affiliate of the Applicant is a prior CDFI Fund award Recipient under any CDFI Fund program, and has a balance of undisbursed funds under said prior Award(s), as of the Application deadline of this NOFA. In the case where an Affiliate of the Applicant is a prior CDFI Fund award Recipient under any CDFI Fund program, and has a balance of undisbursed funds under said prior award(s), as of the Application deadline of this NOFA, the CDFI Fund will include the combined awards of the Applicant and such Affiliates when calculating the amount of undisbursed funds. asabaliauskas on DSK5VPTVN1PROD with NOTICES Contact the CDFI Fund: Accordingly, Applicants that are prior Recipients and/or Allocatees under any CDFI Fund program are advised to: (i) Comply with requirements specified in an assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee and (ii) contact the CDFI Fund to ensure that all necessary actions are underway for the disbursement of any outstanding balance of a prior award(s). An Applicant that is unsure about the disbursement status of any prior award should contact the CDFI Fund by sending an email to cdfihelp@ cdfi.treas.gov. All outstanding reports and compliance questions should be directed to the Certification, Compliance Monitoring, and Evaluation helpdesk by email at ccme@ cdfi.treas.gov or by telephone at (202) 653–0421. The CDFI Fund will respond to Applicants’ reporting, compliance, or disbursement questions between the hours of 9:00 a.m. and 5:00 p.m. ET, starting on the date of the publication of this NOFA through June 11, 2015. The CDFI Fund will not respond to Applicants’ reporting, compliance, or disbursement telephone calls or email inquiries that are received after 5:00 p.m. ET on June 11, 2015 until after the Application deadline. The CDFI Fund will respond to technical issues related to myCDFIFund Accounts through 5:00 p.m. ET on June 17, 2015 at ithelpdesk@ cdfi.treas.gov or by telephone at (202) 653–0422. B. Cost sharing or matching fund requirements: Not applicable. IV. Application and Submission Information A. Address to Request an Application Package: Application materials can be found on Grants.gov and the CDFI Fund’s Web site at www.cdfifund.gov/ bea. Applicants may request a paper version of any Application material by contacting the CDFI Fund Help Desk at cdfihelp@cdfi.treas.gov. VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 B. Content and Form of Application Submission: All Application materials must be prepared using the English language and calculations must be made in U.S. dollars. Detailed Application content requirements are found in the Application associated with this NOFA. Applicants must submit all materials described in and required by the Application by the applicable deadlines. Additional information, including instructions relating to the submission of the Application via Grants.gov, and the submission of the FY 2015 BEA Signature Page and supporting documentation via myCDFIFund, is set forth in further detail in the Application. C. Dun and Bradstreet Universal Numbering System (DUNS) Number and System for Award Management (SAM): Please note that, pursuant to OMB guidance (68 FR 38402), each Applicant must provide, as part of its Application submission, a Dun and Bradstreet Data Universal Numbering System (DUNS) number and a current Employer Identification Number (EIN). Applicants should allow sufficient time for the IRS and/or Dun and Bradstreet to respond to inquiries and/or requests for identification numbers. Applicants without a DUNS number will not be able to register and submit an Application in the Grants.gov system. An active SAM account is required to submit Applications via Grants.gov. Neither the SAM account, EIN, nor the DUNS number can be that of the depository institution holding company of the Applicant. Applicants are advised to allow ample time to complete the entire registration and submission process prior to the application deadline. The SAM registration process can take several weeks to complete. Applicants that have previously completed the SAM registration process must verify that their SAM accounts are current and active. Each Applicant must continue to maintain an active SAM registration with current information at all times during which it has an active PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 Federal award or an Application under consideration by a Federal awarding agency. The CDFI Fund will not consider any Applicant that fails to properly register or activate its SAM account and, as a result, is unable to submit its Application by the Application deadline. Applicants must contact SAM directly with questions related to registration or SAM account changes as the CDFI Fund does not maintain this system. For more information about SAM, please visit https://www.sam.gov. An Application that does not include an EIN or DUNS number is incomplete and cannot be transmitted to the CDFI Fund. The preceding sentences do not limit the CDFI Fund’s ability to contact an Applicant for the purpose of confirming or clarifying information regarding a DUNS number or EIN. Once an Application is submitted, the Applicant will not be allowed to change any element of the Application. The CDFI Fund reserves the right to request and review other pertinent or public information that has not been specifically requested in this NOFA or the Application. As set forth in further detail in the Application, any Qualified Activity missing the required documentation will be disqualified. Applicants will not be allowed to submit missing documentation for Qualified Activities after the Application deadline. Information submitted by the Applicant that the CDFI Fund has not specifically requested will not be reviewed or considered as part of the Application. Applicants must submit Applications under this NOFA via Grants.gov and with certain required documentation via myCDFIFund according to the instructions in the Application. 1. Grants.gov: In order to submit an Application via Grants.gov, Applicants must complete a multi-step registration process. This includes providing a DUNS and registration at www.sam.gov. The CDFI Fund strongly encourages Applicants to start the Grants.gov E:\FR\FM\05MYN1.SGM 05MYN1 25774 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices registration process as soon as possible (refer to the following link: http:// www.grants.gov/web/grants/ register.html) as it may take several weeks to complete. An Applicant that has previously registered with Grants.gov must verify that its registration is current and active. Applicants should contact Grants.gov directly with questions related to the registration or submittal process as the CDFI Fund does not maintain the Grants.gov system. 2. myCDFIFund: All Applicants and CDFI Partners must complete a FY 2015 BEA Signature Page in myCDFIFund, the CDFI Fund’s Internet-based interface. All Applicants and CDFI Partners must register User and Organization accounts in myCDFIFund by the applicable Application deadline. Failure to register and complete a FY 2015 BEA Signature Page in myCDFIFund could result in the CDFI Fund being unable to accept the Application. As myCDFIFund is the CDFI Fund’s primary means of communication with Applicants and Award Recipients, institutions must make sure that they update their contact information in their myCDFIFund accounts. In addition, the Applicant should ensure that the Applicant name is the same institution’s name on the Application materials (SF–424 and other forms). EINs and DUNS numbers in the Applicant’s System for Award Management (SAM) account must match those listed in myCDFIFund. For more information on myCDFIFund, please see the ‘‘Frequently Asked Questions’’ link posted at https:// www.cdfifund.gov/myCDFI/Help/ Help.asp. Qualified Activity documentation and other attachments as specified in the applicable BEA Program Application must be submitted electronically via the BEA Signature Page interface in myCDFIFund. Detailed instructions regarding submission of Qualified Activity documentation is provided in the Application instructions. Applications, attachments, and Qualified Activity documentation delivered by hard copy to the CDFI Fund’s Washington, DC office address will be rejected, unless the Applicant previously requested a paper version of the Application as described in Section IV.A. D. Submission Dates and Times: The following table provides the critical deadlines for the FY 2015 Funding Round. Applications and other required documents and other attachments received after the deadline on the applicable date will be rejected. Please note that the document submission deadlines in this NOFA and the Application are strictly enforced. The CDFI Fund will not grant exceptions or waivers for late submissions except where the submission delay was a direct result of a Federal government administrative or technological error. TABLE 4—FY 2015 BEA PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Deadline Time (eastern daylight time—EDT) Application Part I: BEA Program Application Due Date ............... (Application Part I Forms include: SF–424 Mandatory, Environmental Review Form, Certifications and Excel charts). Application Part II: myCDFIFund Due Date (This includes myCDFIFund account registration, BEA Signature Page and Documentation of Qualified Activities). asabaliauskas on DSK5VPTVN1PROD with NOTICES Description June 15, 2015 ........ 11:59 p.m. EDT ..... Electronically via Grants.gov. June 17, 2015 ........ 5:00 pm EDT ......... Electronically via myCDFIFund. 1. Confirmation of Application Submission: Applicants may verify their Application submission in Grants.gov and myCDFIFund. a. Grants.gov: Each Applicant will receive an email from Grants.gov immediately after Application submission confirming that the submission has entered the Grants.gov system. This email will contain a tracking number for the submitted Application package. Within 48 hours, the Applicant will receive a second email which will indicate if the submitted Application package was either successfully validated or rejected with errors. However, Applicants should not rely on the second email notification from Grants.gov to confirm that their Applications were validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their Application package by contacting the helpdesk at Grants.gov directly. The Application package is not officially accepted by the CDFI Fund until Grants.gov has validated the Application. VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 b. myCDFIFund.gov: Applicants will not receive an email confirmation for the BEA Signature Page and related materials submitted in myCDFIFund. Instead, Applicants should check their myCDFIFund account to ensure that the BEA Signature Page is listed under ‘‘Submitted Applications.’’ Step-by-step instructions are provided in the Application and supplemental guidance materials. 2. Multiple Application Submissions: If an Applicant submits multiple versions of its Application, the CDFI Fund will only review the last Application submitted in Grants.gov. 3. Late Submission: The CDFI Fund will not accept an Application submitted after the Application deadline except where the submission delay was a direct result of a Federal government administrative or technological error. In such case, the Applicant must submit a request for acceptance of late Application submission and include documentation of the error no later than two business days after the applicable Application deadline. The CDFI Fund will not PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 Submission method respond to request for acceptance of late Application submissions after that time period. Applicants must submit late Application submission requests to the CDFI Helpdesk at cdfihelp@ cdfi.treas.gov with a subject line of ‘‘Late Application Submission Request.’’ E. Funding Restrictions: BEA Program Awards are limited by the following: 1. A Recipient shall use BEA Program funds only for the eligible activities described in Section II. D. of this NOFA and its Award Agreement. 2. A Recipient may not distribute BEA Program funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. 3. BEA Program funds shall only be disbursed to the Recipient. 4. The CDFI Fund, in its sole discretion, may disburse BEA Program funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. F. Other Submission Requirements: None. V. Application Review Information A. Criteria: If the Applicant submitted a complete and eligible Application, the E:\FR\FM\05MYN1.SGM 05MYN1 asabaliauskas on DSK5VPTVN1PROD with NOTICES Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices CDFI Fund will conduct a substantive review in accordance with the criteria and procedures described in the Regulations, this NOFA, the Application guidance, and the Uniform Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone, email, or mail for the sole purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI Fund or run the risk that its Application will be rejected. 1. CDFI Related Activities: CDFI Related Activities include Equity Investments, Equity-Like Loans, and CDFI Support Activities provided to eligible CDFI Partners. 2. Eligible CDFI Partner: CDFI Partner is defined as a CDFI that has been provided assistance in the form of CDFI Related Activities by an unaffiliated Applicant (12 CFR 1806.103(o)). For the purposes of this NOFA, an eligible CDFI Partner is an entity that has been certified as a CDFI as of the end of the applicable Assessment Period and is Integrally Involved in a Distressed Community. 3. Integrally Involved: Integrally Involved is defined as having provided: (i) At least 10 percent of financial transactions or dollars transacted (e.g., loans or equity investments), or 10 percent of Development Service Activities (as defined in 12 CFR 1805.104(s)), in one or more Distressed Communities identified by the Applicant or the CDFI Partner, as applicable, in each of the three calendar years preceding the date of the applicable NOFA, (ii) having transacted at least 25 percent of financial transactions (e.g., loans or equity investments) in one or more Distressed Communities in at least one of the three calendar years preceding the date of this NOFA, or (iii) demonstrated that it has attained at least 10 percent of market share for a particular product in one or more Distressed Communities (such as home mortgages originated in one or more Distressed Communities) in at least one of the three calendar years preceding the date of this NOFA. 4. Limitations on eligible Qualified Activities provided to certain CDFI Partners: A CDFI Applicant cannot receive credit for any financial assistance or Qualified Activities provided to a CDFI Partner that is also an FDIC-insured depository institution or depository institution holding company. 5. Certificates of Deposit: Section 1806.103(q) of the Interim Rule states that any certificate of deposit (CD) placed by an Applicant or its Subsidiary VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 in a CDFI Partner that is a bank, thrift, or credit union must be: (i) Uninsured and committed for at least three years; or (ii) insured, committed for a term of at least three years, and provided at an interest rate that is materially below market rates, in the determination of the CDFI Fund. a. For purposes of this NOFA, ‘‘materially below market interest rate’’ is defined as an annual percentage rate that does not exceed 100 percent of yields on Treasury securities at constant maturity as interpolated by Treasury from the daily yield curve and available on the Treasury Web site at www.treas.gov/offices/domesticfinance/debt-management/interest-rate/ yield.shtml. For example, for a threeyear CD, Applicants should use the three-year rate U.S. Government securities, Treasury Yield Curve Rate posted for that business day. The Treasury updates the Web site daily at approximately 5:30 p.m. ET. CDs placed prior to that time may use the rate posted for the previous business day. The annual percentage rate on a CD should be compounded daily, quarterly, semi-annually, or annually. If a variable interest rate is used, the CD must also have an interest rate that is materially below the market interest rate over the life of the CD, in the determination of the CDFI Fund. b. For purposes of this NOFA, a deposit placed by an Applicant directly with a CDFI Partner that participates in a deposit network or service may be treated as eligible under this NOFA if it otherwise meets the criteria for deposits in 1806.103(q) and the CDFI Partner retains the full amount of the initial deposit or an amount equivalent to the full amount of the initial deposit through a deposit network exchange transaction. 6. Equity Investment: An Equity Investment means financial assistance in the form of a grant, a stock purchase, a purchase of a partnership interest, a purchase of a limited liability company membership interest, or any other investment deemed to be an Equity Investment by the CDFI Fund provided by an Applicant or its Subsidiary to a CDFI Partner that meets the criteria set forth in the applicable NOFA. 7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an Applicant or its Subsidiary to a CDFI Partner, and made on such terms that it has characteristics of an Equity Investment, as such characteristics may be specified by the CDFI Fund (12 CFR 1806.103(z)). For purposes of this NOFA, an EquityLike Loan must meet the following characteristics: PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 25775 a. At the end of the initial term, the loan must have a definite rolling maturity date that is automatically extended on an annual basis if the CDFI borrower continues to be financially sound and carry out a community development mission; b. Periodic payments of interest and/ or principal may only be made out of the CDFI borrower’s available cash flow after satisfying all other obligations; c. Failure to pay principal or interest (except at maturity) will not automatically result in a default of the loan agreement; and d. The loan must be subordinated to all other debt except for other EquityLike Loans. Notwithstanding the foregoing, the CDFI Fund reserves the right to determine, in its sole discretion and on a case-by-case basis, whether an instrument meets the above-stated characteristics of an Equity-Like Loan. 8. CDFI Support Activity: A CDFI Support Activity is defined as assistance provided by an Applicant or its Subsidiary to a CDFI Partner, in the form of a loan, technical assistance, or deposits. 9. CDFI Program Matching Funds: Equity Investments, Equity-Like Loans, and CDFI Support Activities (except technical assistance) provided by a BEA Applicant to a CDFI and used by the CDFI for matching funds under the CDFI Program are eligible as a Qualified Activity under the CDFI Related Activity category. 10. Distressed Community Financing Activities and Service Activities: Distressed Community Financing Activities comply with consumer protection laws and include Affordable Housing Loans, Affordable Housing Development Loans and related Project Investments, Education Loans, Commercial Real Estate Loans and related Project Investments, Home Improvement Loans, Small Business Loans and related Project Investments (12 CFR 1806.103(ll)), and Small Dollar Consumer Loans. In addition to the regulatory requirements, this NOFA provides the following additional requirements: a. Commercial Real Estate Loans and related Project Investments: For purposes of this NOFA, eligible Commercial Real Estate Loans (12 CFR 1806.103(k)) and related Project Investments (12 CFR 1806.103(ll)) are generally limited to transactions with a total principal value of $10 million or less. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, may consider transactions with a total principal value of over $10 million, subject to review. For such transactions, Applicants must provide a separate E:\FR\FM\05MYN1.SGM 05MYN1 asabaliauskas on DSK5VPTVN1PROD with NOTICES 25776 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices narrative, or other information, to demonstrate that the proposed project offers, or significantly enhances the quality of, a facility or service not currently provided to the Distressed Community. b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible Small Dollar Consumer Loans are affordable loans that serve as available alternatives to the marketplace for individuals who are Eligible Residents with a total principal value between $500 and $5,000 and have a term of ninety (90) days or more. 11. Reporting certain Financial Services: The CDFI Fund will value the administrative cost of providing certain Financial Services using the following per unit values: a. $100.00 per account for Targeted Financial Services including youth savings accounts, Electronic Transfer Accounts and Individual Development Accounts; b. $50.00 per account for checking and savings accounts that do not meet the definition of Targeted Financial Services; c. $5.00 per check cashing transaction; d. $25,000 per new ATM installed at a location in a Distressed Community; e. $2,500 per ATM operated at a location in a Distressed Community; f. $250,000 per new retail bank branch office opened in a Distressed Community, including school-based bank branches approved by the Applicant’s Federal bank regulator; and g. In the case of Applicants engaging in Financial Services activities not described above, the CDFI Fund will determine the unit value of such services. h. When reporting the opening of a new retail bank branch office, the Applicant must certify that it has not operated a retail branch in the same Distressed Community in which the new retail branch office is being opened in the past three years, and that such new branch will remain in operation for at least the next five years. i. Financial Service Activities must be provided by the Applicant to Low- and Moderate-Income Residents. An Applicant may determine the number of Low- and Moderate-Income individuals who are recipients of Financial Services by either: (i) Collecting income data on its Financial Services customers, or (ii) certifying that the Applicant reasonably believes that such customers are Lowand Moderate-Income individuals and providing a brief analytical narrative with information describing how the Applicant made this determination. Citations must be provided for external VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 sources. In addition, if external sources are referenced in the narrative, the Applicant must explain how it reached the conclusion that the cited references are directly related to the Low-and Moderate-Income residents to whom it is claiming to have provided the Financial Services. j. When reporting changes in the dollar amount of deposit accounts, only calculate the net change in the total dollar amount of eligible Deposit Liabilities between the Baseline Period and the Assessment Period. Do not report each individual deposit. If the net change between the Baseline Period and Assessment Period is a negative dollar amount, then a negative dollar amount may be recorded for Deposit Liabilities only. Instructions for determining the net change is available in the Supplemental Guidance to the FY 2015 BEA Program Application. 12. Priority Factors: Priority Factors are the numeric values assigned to individual types of activity within: (i) The Distressed Community Financing, and (ii) Services categories of Qualified Activities. For the purposes of this NOFA, Priority Factors will be based on the Applicant’s asset size as of the end of the Assessment Period (December 31, 2014) as reported by the Applicant in the Application. Asset size classes (i.e., small institutions, intermediate-small institutions, and large institutions) will correspond to the Community Reinvestment Act (CRA) asset size classes set by the three Federal bank regulatory agencies and that were effective as of the end of the Assessment Period. The Priority Factor works by multiplying the change in a Qualified Activity by the assigned Priority Factor to achieve a ‘‘weighted value.’’ This weighted value of the change would be multiplied by the applicable Award percentage to yield the Award amount for that particular activity. For purposes of this NOFA, the CDFI Fund is establishing Priority Factors based on Applicant asset size to be applied to all activity within the Distressed Community Financing Activities and Service Activities categories only, as follows: TABLE 5—CRA ASSET SIZE CLASSIFICATION Priority factor Small institutions (assets of less than $305 million as of 12/31/2014) ................... PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 5.0 TABLE 5—CRA ASSET SIZE CLASSIFICATION—Continued Priority factor Intermediate—small institutions (assets of at least $305 million but less than $1.221 billion as of 12/31/ 2014) ................................. Large institutions (assets of $1.221 billion or greater as of 12/31/2014) ................... 3.0 1.0 13. Certain Limitations on Qualified Activities: a. Low-Income Housing Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits through Low-Income Housing Tax Credits, authorized pursuant to Section 42 of the Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a Bank Enterprise Award. b. New Markets Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits as an investor in a Community Development Entity that has received an allocation of New Markets Tax Credits, authorized pursuant to Section 45D of the Internal Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a Bank Enterprise Award. Leverage loans used in New Markets Tax Credit structured transactions that meet the requirements outlined in this NOFA are considered Distressed Community Financing Activities. c. Loan Renewals and Refinances: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, as defined in this part, for the purposes of calculating or receiving a Bank Enterprise Award if such financial assistance consists of a loan to a borrower that has matured and is then renewed by the Applicant, or consists of a loan to a borrower that is retired or restructured using the proceeds of a new commitment by the Applicant. Payoff of a separate third party obligation will only be considered a Qualified Activity if the payoff of a transaction is part of the sale of property or business to an unaffiliated party to the borrower. Applicants should include a narrative statement to describe any such transactions. Otherwise the transaction will be disqualified. d. Certain Business Types: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, E:\FR\FM\05MYN1.SGM 05MYN1 asabaliauskas on DSK5VPTVN1PROD with NOTICES Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices as defined in this part, for the purposes of financing the following business types: Golf courses, race tracks, gambling facilities, certain farming businesses as described in 26 CFR part 1.45D–1(d)(5)(iii)(C), country clubs, massage parlors, hot tub facilities, suntan facilities, or stores where the principal business is the sale of alcoholic beverages for consumption off premises. e. Prior BEA Program Awards: Qualified Activities funded with prior funding round BEA Program Award dollars or funded to satisfy requirements of the BEA Program Award Agreement shall not constitute a Qualified Activity for the purposes of calculating or receiving a BEA Program Award. f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA Program Award for activities funded by another CDFI Fund program or Federal program. 14. Award Percentages, Award Amounts, Application Review Process, Selection Process, Programmatic and Financial Risk, and Application Rejection: The Interim Rule describes the process for selecting Applicants to receive a BEA Program Award and determining Award amounts. a. Award percentages: In the CDFI Related Activities category (except for an Equity Investment or Equity-Like Loan), for CDFI Applicants, the estimated Award amount will be equal to 18 percent of the increase in Qualified Activity for the category. If an Applicant is not a CDFI Applicant, the estimated Award amount will be equal to 6 percent of the increase in Qualified Activity for the category. Notwithstanding the foregoing, for a CDFI Applicant and for an Applicant that is not a CDFI Applicant, the Award percentage applicable to an Equity Investment, Equity-Like Loan, or Grant in a CDFI shall be 15 percent of the increase in Qualified Activity for the category. In Distressed Community Financing Activities and Service Activities categories, for a CDFI Applicant, the estimated Award amount will be equal to 9 percent of the weighted value of the increase in Qualified Activity for the category. If an Applicant is not a CDFI Applicant, the estimated Award amount will be equal to 3 percent of the weighted value of the increase in Qualified Activity for the category. b. Award Amounts: Applicants will calculate and request an estimated Award amount in accordance with a multi-step procedure that is outlined in the Interim Rule (at 12 CFR 1806.403). As outlined in the Interim Rule at 12 CFR 1806.404, the CDFI Fund will VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 determine actual Award amounts based on the availability of funds, increases in Qualified Activities from the Baseline Period to the Assessment Period, and the priority ranking of each Applicant. In calculating the increase in Qualified Activities, the CDFI Fund will determine the eligibility of each transaction for which an Applicant has applied for a Bank Enterprise Award. In some cases, the actual Award amount calculated by the CDFI Fund may not be the same as the estimated Award amount requested by the Applicant. For purposes of calculating Award disbursement amounts, the CDFI Fund will treat Qualified Activities with a total principal amount less than or equal to $250,000 as fully disbursed. For all other Qualified Activities, Award Recipients will have 12 months from the end of the Assessment Period to make disbursements and 18 months from the end of the Assessment Period to submit to the CDFI Fund disbursement requests for the corresponding portion of their Awards, after which the CDFI Fund will rescind and de-obligate any outstanding Award balance and said outstanding Award balance will no longer be available to the Award Recipient. B. Review and Selection Process: 1. Application Review Process: All Applications will be initially evaluated by external non-Federal reviewers. Reviewers are selected based on their experience in understanding various financial transactions, reading and interpreting financial documentation, strong written communication skills, and strong mathematical skills. Reviewers must complete the CDFI Fund’s conflict of interest process and be approved by the CDFI Fund. The CDFI Fund’s application reader conflict of interest policy is located on the CDFI Fund’s Web site. 2. Selection Process: If the amount of funds available during the funding round is insufficient for all estimated Award amounts, Award Recipients will be selected based on the process described in the Interim Rule at 12 CFR 1806.404. This process gives funding priority to Applicants that undertake activities in the following order: (i) CDFI Related Activities, (ii) Distressed Community Financing Activities, and (iii) Service Activities, as described in the Interim Rule at 12 CFR 1806.404(c). Within each category, CDFI Applicants will be ranked first according to the ratio of the actual Award amount calculated by the CDFI Fund for the category to the total assets of the Applicant, followed by Applicants that are not CDFI Applicants according to the ratio of the actual Award amount calculated by the CDFI PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 25777 Fund for the category to the total assets of the Applicant. Selections within each priority category will be based on the Applicants’ relative rankings within each such category, subject to the availability of funds and any established maximum dollar amount of total awards that may be awarded for the Distressed Community Financing Activities category of Qualified Activities, as determined by the CDFI Fund. The CDFI Fund, in its sole discretion: (i) May adjust the estimated Award amount that an Applicant may receive, (ii) may establish a maximum amount that may be awarded to an Applicant, and (iii) reserves the right to limit the amount of an Award to any Applicant if the CDFI Fund deems it appropriate. The CDFI Fund reserves the right to contact the Applicant to confirm or clarify information. If contacted, the Applicant must respond within the CDFI Fund’s time parameters or run the risk of having its Application rejected. The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures. If those 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. 3. Programmatic and Financial Risk: The CDFI Fund will consider safety and soundness information from the appropriate Federal bank regulatory agency as defined in Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank regulatory agency identifies safety and soundness concerns, the CDFI Fund will assess whether the concerns cause or will cause the Applicant to be incapable of completing the activities for which funding has been requested. The CDFI Fund will not approve a BEA Program Award under any circumstances for an Applicant if the appropriate Federal bank regulatory agency indicates that the Applicant received a composite rating of ‘‘5’’ on its most recent examination, performed in accordance with the Uniform Financial Institutions Rating System. Furthermore, the CDFI Fund will not approve a BEA Program Award for the following reasons if at the time of application the Applicant received any of the following: a. A CRA assessment rating of below ‘‘Satisfactory’’ on its most recent examination; b. a going concern opinion on its most recent audit; c. a Prompt Corrective Action directive from its regulator. E:\FR\FM\05MYN1.SGM 05MYN1 25778 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices Applicants and/or their appropriate Federal bank regulator agency may be contacted by the CDFI Fund to provide additional information related to Federal bank regulatory or CRA information. The CDFI Fund will consider this information and may choose to disapprove a BEA Program Award for an Applicant if the information indicates that the Applicant may be unable to responsibly manage, re-invest, and/or report on a BEA Program Award during the performance period. 4. Application Rejection: The CDFI Fund reserves the right to reject an Application if information (including administrative error) comes to the CDFI Fund’s attention that either: Adversely affects an Applicant’s eligibility for an award; adversely affects the CDFI Fund’s evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicant’s part. If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. There is no right to appeal the CDFI Fund’s Award decisions. The CDFI Fund’s Award decisions are final. The CDFI Fund will not discuss the specifics of an Applicant’s BEA Program Application or provide reasons why an Applicant did not receive a BEA Program Award. The CDFI Fund will only respond to general questions regarding the FY 2015 Application and Award decision process until 30 days after the award announcement date. C. Anticipated Announcement and Federal Award Dates: The CDFI Fund anticipates making its FY 2015 BEA Program award announcement by September 30, 2015. VI. Federal Award Administration Information A. Federal Award Notices: The CDFI Fund will notify an Applicant of its selection as an Award Recipient by delivering a Notice of Award and Award Agreement. The Notice of Award and Award Agreement will contain the general terms and conditions governing the CDFI Fund’s provision of an Award. The Award Recipient will receive a copy of the Notice of Award and Award Agreement via myCDFIFund. The Award Recipient is required to execute the Award Agreement and return it to the CDFI Fund. Each Award Recipient must also ensure that complete and accurate banking information is reflected in its System for Award Management (SAM) account on www.sam.gov in order to receive its award disbursement. B. Administrative and National Policy Requirements: If, prior to entering into an Award Agreement, information (including an administrative error) comes to the CDFI Fund’s attention that adversely affects: The Award Recipient’s eligibility for an award; the CDFI Fund’s evaluation of the Application; the Award Recipient’s compliance with any requirement listed in the Uniform Requirements; or indicates fraud or mismanagement on the Award Recipient’s part, the CDFI Fund may, in its discretion and without advance notice to the Award Recipient, terminate the award or take other actions as it deems appropriate. If the Award Recipient’s certification status as a CDFI changes, the CDFI Fund reserves the right, in its sole discretion, to re-calculate the Award, modify the Notice of Award, and modify the Award Agreement based on the Award Recipient’s non-CDFI status. By executing an Award Agreement, the Award Recipient agrees that, if the CDFI Fund becomes aware of any information (including an administrative error) prior to the Effective Date of the Award Agreement that either adversely affects the Award Recipient’s eligibility for an Award, or adversely affects the CDFI Fund’s evaluation of the Award Recipient’s Application, or indicates fraud or mismanagement on the part of the Award Recipient, the CDFI Fund may, in its discretion and without advance notice to the Award Recipient, terminate the Award Agreement or take other actions as it deems appropriate. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Award Recipient fails to return the Award Agreement, signed by the authorized representative of the award Recipient, and/or provide the CDFI Fund with any other requested documentation, within the CDFI Fund’s deadlines. In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA for any criteria described in the following table: TABLE 6—CRITERIA THAT MAY RESULT IN AWARD TERMINATION PRIOR TO THE EXECUTION OF AN AWARD AGREEMENT Criteria Failure to meet reporting requirements. asabaliauskas on DSK5VPTVN1PROD with NOTICES Pending resolution of noncompliance. VerDate Sep<11>2014 Description If an Applicant, is a prior CDFI Fund award Recipient or Allocatee under any CDFI Fund program and is not current on the reporting requirements set forth in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guaranty, as of the date of the Notice of Award, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, until said prior Recipient or Allocatee is current on the reporting requirements in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guaranty. Please note that automated systems employed by the CDFI Fund for receipt of reports submitted electronically typically acknowledge only a report’s receipt; such acknowledgment does not warrant that the report received was complete and therefore met reporting requirements. If said prior Recipient 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 Notice of Award and the Award made under this NOFA. If, at any time prior to entering into an Award Agreement under this NOFA, an Applicant that is a prior CDFI Fund award Recipient or Allocatee under any CDFI Fund program: Has submitted reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, award, or allocation agreement, but the CDFI Fund has yet to make a final determination regarding whether or not the entity is in default of its previous assistance, award, allocation, bond loan agreement, or agreement to guaranty, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. If said prior Recipient or Allocatee is unable to meet this requirement, in the sole determination of the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Notice of Award and the Award made under this NOFA. 17:18 May 04, 2015 Jkt 235001 PO 00000 Frm 00119 Fmt 4703 Sfmt 4703 E:\FR\FM\05MYN1.SGM 05MYN1 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices 25779 TABLE 6—CRITERIA THAT MAY RESULT IN AWARD TERMINATION PRIOR TO THE EXECUTION OF AN AWARD AGREEMENT— Continued Criteria Description Default status ................ If prior to entering into an Award Agreement under this NOFA: The CDFI Fund has made a final determination that an Applicant that is a prior CDFI Fund Recipient or Allocatee under any CDFI Fund program whose award or allocation terminated in default of such prior agreement; the CDFI Fund has provided written notification of such determination to such organization; and the anticipated date for entering into the Award Agreement under this NOFA is within a period of time specified in such notification throughout which any new award, allocation, assistance, bond loan agreement(s), or agreement to guaranty is prohibited, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA. If prior to entering into an Award Agreement under this NOFA, the Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Award Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the award Recipient is identified as ineligible to be a recipient per the Do Not Pay database. If it is determined the award Recipient is or will be incapable of meeting its Award obligations, the CDFI Fund will deem the award Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Award Agreement. Compliance with Federal civil rights requirements. Do Not Pay ................... Safety and soundness .. Award Agreement: After the CDFI Fund selects an Award Recipient, unless an exception detailed in this NOFA applies, the CDFI Fund and the Award Recipient will enter into an Award Agreement. The Award 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 the Award; (iii) the approved uses of the Award; (iv) the performance goals and measures; (v) the performance periods; and (vi) the reporting requirements. The Award Agreement shall provide that an Award Recipient shall: (i) Carry out its Qualified Activities in accordance with applicable law, the approved Application, and all other applicable requirements; (ii) not receive any disbursement of award dollars until the CDFI Fund has determined that the Award Recipient has fulfilled all applicable requirements; and (iii) use the BEA Award amount for BEA Qualified Activities. C. Reporting: The CDFI Fund will require each Award Recipient that receives an Award of over $50,000 through this NOFA to account for and report to the CDFI Fund on the use of the Award. This will require Award Recipients to establish administrative controls, subject to applicable OMB Circulars. The CDFI Fund will collect information from each such Award Recipient on its use of the Award at least once following the Award and more often if deemed appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will provide guidance to Award Recipients outlining the format and content of the information required to be provided to describe how the funds were used. The CDFI Fund may collect information from each Recipient including, but not limited to, an Annual Report with the following components: TABLE 7—REPORTING REQUIREMENTS Criteria Description Single Audit Narrative Report (or like report). The Recipient must submit, via myCDFIFund, a Single Audit Narrative Report for each year of its period of performance notifying the CDFI Fund whether it is required to have a single audit pursuant to OMB Single Audit requirements. A Recipient that is a non-profit entity that expends $750,000 or more in Federal awards during its fiscal year must have a single audit conducted for that year. If a Recipient is required to complete a Single Audit Report, it should be submitted to the Federal Audit Clearinghouse see 2 CFR Subpart F-Audit Requirements in the Uniform Federal Award Requirements. For-profit award Recipients will be required to complete and submit a similar report directly to the CDFI Fund. If the award Recipient receives a BEA Program award of over $50,000, it must submit the Use of Award report to the CDFI Fund via myCDFIFund. If the award Recipient fails to meet a Performance Goal or reporting requirements, it must submit the Explanation of Noncompliance via myCDFI Fund. asabaliauskas on DSK5VPTVN1PROD with NOTICES Single Audit (if applicable) (or similar report). Use of BEA Program Award Report. Explanation of Noncompliance (as applicable) or successor report. Each Award Recipient is responsible for the timely and complete submission of the Reporting requirements. The CDFI Fund reserves the right to contact the Award Recipient to request additional VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 information and documentation. The CDFI Fund will use such information to monitor each Award Recipient’s compliance with the requirements in the Award Agreement and to assess the PO 00000 Frm 00120 Fmt 4703 Sfmt 4703 impact of the BEA Program. The CDFI Fund reserves the right, in its sole discretion, to modify these reporting requirements if it determines it to be appropriate and necessary; however, E:\FR\FM\05MYN1.SGM 05MYN1 25780 Federal Register / Vol. 80, No. 86 / Tuesday, May 5, 2015 / Notices such reporting requirements will be modified only after notice has been provided to award Recipients. D. Financial Management and Accounting: The CDFI Fund will require award Recipients to maintain financial management and accounting systems that comply with Federal statutes, regulations, and the terms and conditions of the Federal award. These systems must be sufficient to permit the preparation of reports required by general and program specific terms and conditions, including the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal statutes, regulations, and the terms and conditions of the Federal award. Each of the Qualified Activities categories will be ineligible for indirect costs and an associated indirect cost rate. The cost principles used by award Recipients must be consistent with Federal cost principles and support the accumulation of costs as required by the principles, and must provide for adequate documentation to support costs charged to the BEA Program award. In addition, the CDFI Fund will require award Recipients to: maintain effective internal controls; comply with applicable statutes, regulations, and the Award Agreement; evaluate and monitor compliance; take action when not in compliance; and safeguard personally identifiable information. VII. Federal Awarding Agency Contacts A. Questions Related to Application and Prior Award Recipient Reporting, Compliance and Disbursements: The CDFI Fund will respond to questions concerning this NOFA, the Application and reporting, compliance, or disbursements between the hours of 9:00 a.m. and 5:00 p.m. Eastern Time, starting on the date that this NOFA is published through the date listed in Table 1. The CDFI Fund will post responses to frequently asked questions in a separate document on its Web site. 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 following table lists CDFI Fund contact information: TABLE 8—CONTACT INFORMATION Telephone number (not toll free) BEA Program ................................................................................................................................. Certification, Compliance Monitoring, and Evaluation ................................................................... myCDFIFund—IT Help Desk ......................................................................................................... asabaliauskas on DSK5VPTVN1PROD with NOTICES Type of question 202–653–0421 202–653–0423 202–653–0422 B. Information Technology Support: People who have visual or mobility impairments that prevent them from using the CDFI Fund’s Web site should call (202) 653–0422 for assistance (this is not a toll free number). C. Communication With the CDFI Fund: The CDFI Fund will use its myCDFIFund Internet interface to communicate with Applicants and Award Recipients under this NOFA. Award Recipients must use myCDFIFund to submit required reports. The CDFI Fund will notify Award Recipients by email using the addresses maintained in each Award Recipient’s myCDFIFund account. Therefore, an Award Recipient and any Subsidiaries, signatories, and Affiliates must maintain accurate contact information (including contact person and authorized representative, email addresses, fax numbers, phone numbers, and office addresses) in their myCDFIFund account(s). D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services from CDFI Fund or award Recipients under any of its programs is entitled to those benefits or services without being subject to prohibited discrimination. The Department of the Treasury’s Office of Civil Rights and Diversity enforces various Federal statutes and regulations that prohibit discrimination in financially assisted and conducted VerDate Sep<11>2014 17:18 May 04, 2015 Jkt 235001 programs and activities of the CDFI Fund. If a person believes that s/he has been subjected to discrimination and/or reprisal because of membership in a protected group, s/he may file a complaint with: Associate Chief Human Capital Officer, Office of Civil Rights, and Diversity, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or (202) 622–1160 (not a toll-free number). VIII. Other Information A. Reasonable Accommodations: Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Mr. Michael Jones, Community Development Financial Institutions Fund, U.S. Department of the Treasury at JonesM@cdfi.treas.gov no later than 72 hours in advance of the application deadline. B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an agency may not conduct or sponsor a collection of information, and an individual is not required to respond to a collection of information, unless it displays a valid OMB control number. Pursuant to the Paperwork Reduction Act, the BEA Program funding Application has been assigned the following control number: 1559– 0005. C. Application Information Sessions: The CDFI Fund may conduct webinars or host information sessions for PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 Email addresses cdfihelp@cdfi.treas.gov. ccme@cdfi.treas.gov. IThelpdesk@cdfi.treas.gov. organizations that are considering applying to, or are interested in learning about, the CDFI Fund’s programs. For further information, please visit the CDFI Fund’s Web site at http:// www.cdfifund.gov. Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 1806. Dated: April 30, 2015. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2015–10432 Filed 5–4–15; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Unblocking of Specially Designated Nationals and Blocked Persons Pursuant to the Foreign Narcotics Kingpin Designation Act Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of five individuals and one entity whose property and interests in property have been unblocked pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act) (21 U.S.C. 1901–1908, 8 SUMMARY: E:\FR\FM\05MYN1.SGM 05MYN1

Agencies

[Federal Register Volume 80, Number 86 (Tuesday, May 5, 2015)]
[Notices]
[Pages 25769-25780]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-10432]


=======================================================================
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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability (NOFA) Inviting Applications for the 
FY 2015 Funding Round of the Bank Enterprise Award Program (BEA 
Program)

    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2015-BEA.

Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.

    KEY DATES:

                       Table 1--FY 2015 BEA Program Funding Round Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
                                                                   Time  (Eastern daylight
           Description                      Deadline                     time--EDT)            Submission method
----------------------------------------------------------------------------------------------------------------
Last day to contact BEA Program   June 11, 2015...............  5:00 p.m. EDT...............  CDFI Fund
 staff.                                                                                        Helpdesk: 202-653-
                                                                                               0421 or
                                                                                               cdfihelp@cdfi.treas.gov.
Last day to contact               June 11, 2015...............  5:00 p.m. EDT...............  CDFI Fund
 Certification, Compliance                                                                     Helpdesk: 202-653-
 Monitoring and Evaluation staff.                                                              0421 or
                                                                                               cdfihelp@cdfi.treas.gov.
Application Part I: BEA Program   June 15, 2015...............  11:59 p.m. EDT..............  Electronically via
 Application Due Date (Forms                                                                   Grants.gov.
 include: SF-424 Mandatory,
 Environmental Review Form,
 Certifications and Excel
 charts).

[[Page 25770]]

 
Last day to contact IT Help Desk  June 17, 2015...............  5:00 p.m. EDT...............  CDFI Fund
                                                                                               Helpdesk: 202-653-
                                                                                               0421 or
                                                                                               cdfihelp@cdfi.treas.gov.
Application Part II: myCDFIFund   June 17, 2015...............  5:00 p.m. EDT...............  Electronically via
 Due Date: (Includes: myCDFIFund                                                               myCDFIFund.
 account registration, BEA
 Signature Page and
 Documentation of Qualified
 Activities).
----------------------------------------------------------------------------------------------------------------

SUMMARY: This NOFA is issued in connection with the fiscal year (FY) 
2015 funding round of the Bank Enterprise Award Program (BEA Program). 
The BEA Program is administered by the U.S. Department of the 
Treasury's Community Development Financial Institutions Fund (CDFI 
Fund). Through the BEA Program, the CDFI Fund awards formula-based 
grants to depository institutions that are insured by the Federal 
Deposit Insurance Corporation (FDIC) for increasing their levels of 
loans, investments, service activities, and technical assistance within 
Distressed Communities, and financial assistance to Community 
Development Financial Institutions (CDFIs) through equity investments, 
equity-like loans, grants, stock purchases, loans, deposits, and other 
forms of financial and technical assistance, during a specified period.

I. Program Description

    A. History: The CDFI Fund was established by the Riegle Community 
Development Banking and Financial Institutions Act of 1994 to promote 
economic revitalization and community development through investment in 
and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has 
awarded over $2 billion to CDFIs, community development organizations, 
and financial institutions through the Community Development Financial 
Institutions Program (CDFI Program), the Native American CDFI 
Assistance Program (NACA Program), the BEA Program, the Capital Magnet 
Fund, and the Financial Education and Counseling Pilot Program. In 
addition, the CDFI Fund has allocated $40 billion in tax credit 
allocation authority through the New Markets Tax Credit Program (NMTC 
Program) and has obligated $525 million in bond guarantees through the 
CDFI Bond Guarantee Program.
    The BEA Program complements the community development activities of 
banks and thrifts (collectively referred to as banks for purposes of 
this Notice) by providing financial incentives to expand investments in 
CDFIs and to increase lending, investment, and service activities 
within Distressed Communities. Providing monetary awards to banks for 
increasing their community development activities leverages the CDFI 
Fund's dollars and puts more capital to work in Distressed Communities 
throughout the nation.
    B. Priorities: Through the BEA Program, the CDFI Fund specifies the 
following priorities:
    1. Estimated award amounts for Applicants that are CDFIs will be 
equal to three times the award percentages for activities undertaken by 
Applicants that are not CDFIs;
    2. Priority Factors based on Applicant's asset size, as described 
in Section V.D. of this NOFA (``Application Review Information: 
Priority Factors''); and
    3. Priority of awards: The CDFI Fund will rank Applicants in each 
category of Qualified Activity according to the priorities described in 
Section V.F.4 of this NOFA (``Application Review Information: Award 
Percentages, Award Amounts, Application Review Process, Selection 
Process, Programmatic Financial Risk, and Application Rejection: 
Selection Process'').
    C. Baseline Period and Assessment Period dates: A BEA Program Award 
is based on an Applicant's increases in Qualified Activities from the 
Baseline Period to the Assessment Period. For the FY 2015 funding 
round, the Baseline Period is calendar year 2013 (January 1, 2013 
through December 31, 2013), and the Assessment Period is calendar year 
2014 (January 1, 2014 through December 31, 2014). If Qualified 
Activities in a specific category result in a decrease in activity from 
the Baseline Period to the Assessment Period, there is no need to 
report the activity.
    D. Authorizing Statutes and Regulations: The BEA Program was 
authorized by the Bank Enterprise Award Act of 1991, as amended. The 
regulations governing the BEA Program can be found at 12 CFR part 1806 
(Interim Rule). The Interim Rule provides guidance on evaluation 
criteria and other requirements of the BEA Program. Detailed BEA 
Program requirements are also found in the Application associated with 
this NOFA. The CDFI Fund encourages interested parties and Applicants 
to review the Interim Rule, this NOFA, the Application, and the Uniform 
Administrative Requirements, Cost Principles, and Audit Requirements 
for Federal Awards (Uniform Requirements) for a complete understanding 
of the program. Capitalized terms in this NOFA are defined in the 
authorizing statute, the Interim Rule, this NOFA, the Application, and 
the Uniform Requirements. Details regarding Application content 
requirements are found in the Application and related materials. 
Application materials can be found on Grants.gov and the CDFI Fund's 
Web site at www.cdfifund.gov/bea.
    E. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR 200): In December 2014, the 
Department of the Treasury published a final rule, Uniform 
Administrative Requirements, Cost Principles, and Audit Requirements 
for Federal Awards (2 CFR part 1000) (Uniform Requirements), which 
adopted the government-wide framework for grants management codified by 
the Office of Management and Budget (OMB) at 2 CFR part 200, combining 
several OMB guidance circulars, reducing administrative burden for 
award Recipients, and reducing the risk of waste, fraud and abuse of 
Federal financial assistance. The Uniform Requirements establish 
financial, administrative, procurement, and program management 
standards that Federal award-making agencies, including the CDFI Fund, 
and award Recipients must follow. When evaluating award applications, 
awarding agencies must evaluate the risks to the program posed by each 
applicant, and each applicant's merits and eligibility. These 
requirements are designed to ensure that applicants for Federal 
assistance receive a fair and consistent review prior to an award 
decision. This

[[Page 25771]]

review will assess items such as the Applicant's financial stability, 
quality of management systems, history of performance, and audit 
findings. In addition, the Uniform Requirements include guidance on 
audit requirements and other award requirements with which award 
Recipients must comply.
    F. Funding limitations: The CDFI Fund reserves the right to fund, 
in whole or in part, any, all, or none of the Applications submitted in 
response to this NOFA. The CDFI Fund also reserves the right to 
reallocate funds from the amount that is anticipated to be available 
through this NOFA to other CDFI Fund programs, or reallocate remaining 
funds to a future BEA Program funding round, particularly if the CDFI 
Fund determines that the number of awards made through this NOFA is 
fewer than projected.

II. Federal Award Information

A. Funding Availability

    1. FY 2015 Funding Round and Award Amounts: The CDFI Fund expects 
to award approximately $18 million in FY 2015 BEA Program Awards in 
appropriated funds under this NOFA. The CDFI Fund reserves the right to 
award in excess of said funds under this NOFA, provided that the 
appropriated funds are available. The CDFI Fund reserves the right to 
impose a maximum Award amount; however, under no circumstances will an 
Award be higher than $2 million for any Recipient. The CDFI Fund also 
reserves the right to impose a minimum Award amount due to availability 
of funds.
    2. Anticipated Start Date and Period of Performance: The CDFI Fund 
anticipates the period of performance for the FY 2015 Funding Round 
will begin in the Fall of calendar year 2015. Specifically, the period 
of performance begins with the date the CDFI Fund issues the notice of 
award and will conclude one (1) full calendar year after the date of 
the notice of award, during which the Recipient must meet the 
performance goals set forth in the Award Agreement.
    B. Types of Awards: BEA Program Awards are made in the form of 
grants.
    C. Eligible Activities: Eligible Activities for the BEA Program are 
referred to as Qualified Activities and are defined in the Interim Rule 
to include CDFI Related Activities, Distressed Community Financing 
Activities, and Service Activities (12 CFR 1806.103). It is the 
explicit policy of the CDFI Fund that BEA Program Awards may not be 
used by Recipients to recover overhead or indirect costs. Each of the 
Qualified Activities will be ineligible for indirect costs and an 
associated indirect cost rate. CDFI Related Activities (12 CFR 
1806.103(p)) include Equity Investments, Equity-Like Loans, and CDFI 
Support Activities.
    Distressed Community Financing Activities (12 CFR 1806.103(u)) 
include Affordable Housing Loans, Affordable Housing Development Loans 
and related Project Investments; Education Loans; Commercial Real 
Estate Loans and related Project Investments; Home Improvement Loans; 
Small Business Loans and related Project Investments, and Small Dollar 
Consumer Loans. Service Activities (12 CFR 1806.103(oo)) include 
Deposit Liabilities, Financial Services, Community Services, Targeted 
Financial Services, and Targeted Retail Savings/Investment Products. 
When calculating BEA Program Award amounts, the CDFI Fund will only 
consider the amount of a Qualified Activity that has been fully 
disbursed or, in the case of a partially disbursed Qualified Activity, 
will only consider the amount that an Applicant reasonably expects to 
disburse for a Qualified Activity within 12 months from the end of the 
Assessment Period. Subject to the requirements outlined in Section VII. 
B.1. of this NOFA, in the case of Commercial Real Estate Loans and 
related Project Investments, the total principal amount of the 
transaction must be $10 million or less to be considered a Qualified 
Activity. Notwithstanding the foregoing, the CDFI Fund, in its sole 
discretion, may consider transactions with a total principal value of 
over $10 million, subject to review. An activity funded with prior BEA 
Program Award dollars, or funded to satisfy requirements of a BEA 
Program Award Agreement from a prior Award, shall not constitute a 
Qualified Activity for the purposes of calculating or receiving an 
Award.
    D. Designation of Distressed Community: Each CDFI Partner that is 
the recipient of CDFI Support Activities from an Applicant must 
designate a Distressed Community. CDFI Partners that receive Equity 
Investments, Equity-Like Loans or Grants are not required to designate 
a Distressed Community.
    Applicants applying for a BEA Program Award for performing 
Distressed Community Financing Activities or Service Activities must 
verify that addresses of both Baseline and Assessment Period activities 
are in Distressed Communities when completing their Application.
    Please note that a Distressed Community as defined by the BEA 
Program is not necessarily the same as an Investment Area as defined by 
the CDFI Program or a Low-Income Community as defined by the NMTC 
Program.
    1. Definition of Distressed Community: A Distressed Community must 
meet certain minimum geographic area and eligibility requirements, 
which are defined in the Interim Rule at 12 CFR 1806.103(t) and more 
fully described in 12 CFR 1806.401. Applicants should use the CDFI 
Fund's Information Mapping System (CIMS3) to determine whether a 
Baseline Period activity or Assessment Period activity is located in a 
qualified Distressed Community.
    2. Distressed Community Designation by a CDFI Partner: A CDFI 
Partner (as appropriate) shall designate an area as a Distressed 
Community by:
    a. Selecting a census tract that meets the minimum area and 
eligibility requirements; or by
    b. selecting two or more contiguous census tracts that, in the 
aggregate, meet minimum area and eligibility requirements set forth in 
paragraph (1) of this section. A CDFI Partner designates a Distressed 
Community by submitting a map of the Distressed Community as described 
in the BEA Program Application. CDFI Partners must use CIMS3 to 
designate a Distressed Community. CIMS3 is accessed through myCDFIFund 
and contains step-by-step instructions on how to create and save the 
aforementioned map of the Distressed Community. myCDFIFund is an 
electronic interface that is accessed through the CDFI Fund's Web site 
(www.cdfifund.gov). Instructions for registering with myCDFIFund are 
available on the CDFI Fund's Web site. If you have any questions or 
problems with registering, please contact the CDFI Fund IT HelpDesk by 
telephone at (202) 653-0300, or by email to ITHelpDesk@cdfi.treas.gov.
    3. Distressed Community Determination by a BEA Applicant: A BEA 
Applicant shall determine an area is a Distressed Community by:
    a. Selecting a census tract where the Qualified Activity occurred 
that meets the minimum area and eligibility requirements; or
    b. selecting the census tract where the Qualified Activity 
occurred, plus one or more census tracts directly contiguous to where 
the Qualified Activity occurred that when considered in the aggregate, 
meet the minimum area and eligibility requirements set forth in 
paragraph (1) of this section.
    E. Award Agreement: Each Recipient under this NOFA must sign an 
Award Agreement prior to disbursement by the CDFI Fund of the Award 
proceeds. The Award Agreement contains the terms

[[Page 25772]]

and conditions of the Award. For further information, see Section VI of 
this NOFA.

III. Eligibility Information

    A. Eligible Applicants: For the purposes of this NOFA, the 
following table sets forth the eligibility criteria to receive an award 
from the CDFI Fund.

                                Table 2--Eligibility Requirements for Applicants
----------------------------------------------------------------------------------------------------------------
                        Criteria                                               Description
----------------------------------------------------------------------------------------------------------------
Eligible Applicants....................................  Eligible Applicants for the BEA Program must be Insured
                                                          Depository Institutions, as defined in Section 3 of
                                                          the Federal Deposit Insurance Act 12 U.S.C.
                                                          1813(c)(2). For the FY 2015 funding round, an
                                                          Applicant must be FDIC-insured as of December 31, 2014
                                                          to be eligible for consideration for a BEA Program
                                                          Award under this NOFA. The depository institution
                                                          holding company of an Insured Depository Institution
                                                          may not apply on behalf of an Insured Depository
                                                          Institution. Applications received from depository
                                                          institution holding companies will be disqualified.
CDFI Applicant.........................................  For the FY 2015 funding round, an eligible certified-
                                                          CDFI Applicant is an Insured Depository Institution
                                                          that was certified as a CDFI as of December 31, 2014
                                                          and that maintains its status as a certified CDFI at
                                                          the time BEA Program Awards are announced under this
                                                          NOFA.
                                                         No CDFI Applicant may receive a FY 2015 BEA Program
                                                          Award if it has: (1) An application pending for
                                                          assistance under the FY 2015 round of the CDFI
                                                          Program; (2) been awarded assistance from the CDFI
                                                          Fund under the CDFI Program within the 12-month period
                                                          prior to the date of the FY 2015 notice of award
                                                          issued by the CDFI Program; or (3) ever received
                                                          assistance under the CDFI Program for the same
                                                          activities for which it is seeking a FY 2015 BEA
                                                          Program Award. Please note that Applicants may apply
                                                          for both a CDFI Program Award and a BEA Program Award
                                                          in FY 2015; however, receiving a FY 2015 CDFI Program
                                                          award removes an Applicant from eligibility for a FY
                                                          2015 BEA Program Award.
Debarment/Do Not Pay Verification......................   The CDFI Fund will conduct a debarment check and will
                                                          not consider an Application submitted by an Applicant
                                                          if the Applicant is delinquent on any Federal debt.
                                                          The Do Not Pay Business Center was developed to
                                                          support Federal agencies in their efforts to reduce
                                                          the number of improper payments made through programs
                                                          funded by the Federal government. The Do Not Pay
                                                          Business Center provides delinquency information to
                                                          the CDFI Fund to assist with the debarment check.
----------------------------------------------------------------------------------------------------------------

    Prior Award Recipients: The previous success of an Applicant in any 
of the CDFI Fund's programs will not be considered under this NOFA. 
Prior BEA Program Award Recipients and prior Award Recipients of other 
CDFI Fund programs are eligible to apply under this NOFA, except as 
noted in the following table:

                Table 3--Eligibility Requirements for Applicants Which are Prior Award Recipients
----------------------------------------------------------------------------------------------------------------
                        Criteria                                               Description
----------------------------------------------------------------------------------------------------------------
Pending resolution of noncompliance....................   If an Applicant that is a prior Award Recipient or
                                                          Allocatee under any CDFI Fund program: (i) Has
                                                          submitted reports to the CDFI Fund that demonstrate
                                                          noncompliance with a previous assistance agreement,
                                                          award agreement, allocation agreement, bond loan
                                                          agreement, or agreement to guarantee and (ii) the CDFI
                                                          Fund has yet to make a final determination as to
                                                          whether the entity is in default of its previous
                                                          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.
Default status.........................................   The CDFI Fund will not consider an Application
                                                          submitted by an Applicant that is a prior CDFI Fund
                                                          Award Recipient 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 agreement, award
                                                          agreement, allocation agreement, bond loan agreement,
                                                          or agreement to guarantee. Such entities will be
                                                          ineligible to apply for an Award pursuant to this NOFA
                                                          so long as the Applicant's prior award or allocation
                                                          remains in default status or such other time period as
                                                          specified by the CDFI Fund in writing.
Undisbursed funds......................................   For the purposes of this section, the term
                                                          ``undisbursed funds'' is defined as: (i) In the case
                                                          of prior BEA Program Award(s), any balance of Award
                                                          funds equal to or greater than five percent of the
                                                          total prior BEA Program Award(s) that remains
                                                          undisbursed more than three years after the end of the
                                                          calendar year in which the CDFI Fund signed an Award
                                                          Agreement with the Award Recipient, or (ii) in the
                                                          case of prior CDFI Program or other CDFI Fund program
                                                          award(s), any balance of award funds equal to or
                                                          greater than five percent of the total prior award(s)
                                                          that remains undisbursed more than two years after the
                                                          end of the calendar year in which the CDFI Fund signed
                                                          the applicable assistance agreement with the Award
                                                          Recipient.
                                                         The term ``undisbursed funds'' does not include (i) tax
                                                          credit allocation authority allocated through the NMTC
                                                          Program; (ii) any award funds for which the CDFI Fund
                                                          received a full and complete disbursement request from
                                                          the Award Recipient as of the Application deadline of
                                                          this NOFA; (iii) an award that does not have a fully
                                                          executed award agreement; or (iv) any award funds for
                                                          an award that has been terminated, expired, rescinded,
                                                          or de-obligated by the CDFI Fund.

[[Page 25773]]

 
                                                         The CDFI Fund will not consider an Application
                                                          submitted by an Applicant that is a prior CDFI Fund
                                                          award Recipient under any CDFI Fund program if the
                                                          Applicant has a balance of undisbursed funds under
                                                          said prior award(s), as of the Application deadline of
                                                          this NOFA. Further, an entity is not eligible to apply
                                                          for an Award pursuant to this NOFA if an Affiliate of
                                                          the Applicant is a prior CDFI Fund award Recipient
                                                          under any CDFI Fund program, and has a balance of
                                                          undisbursed funds under said prior Award(s), as of the
                                                          Application deadline of this NOFA. In the case where
                                                          an Affiliate of the Applicant is a prior CDFI Fund
                                                          award Recipient under any CDFI Fund program, and has a
                                                          balance of undisbursed funds under said prior
                                                          award(s), as of the Application deadline of this NOFA,
                                                          the CDFI Fund will include the combined awards of the
                                                          Applicant and such Affiliates when calculating the
                                                          amount of undisbursed funds.
----------------------------------------------------------------------------------------------------------------

    Contact the CDFI Fund: Accordingly, Applicants that are prior 
Recipients and/or Allocatees under any CDFI Fund program are advised 
to: (i) Comply with requirements specified in an assistance agreement, 
award agreement, allocation agreement, bond loan agreement, or 
agreement to guarantee and (ii) contact the CDFI Fund to ensure that 
all necessary actions are underway for the disbursement of any 
outstanding balance of a prior award(s). An Applicant that is unsure 
about the disbursement status of any prior award should contact the 
CDFI Fund by sending an email to cdfihelp@cdfi.treas.gov. All 
outstanding reports and compliance questions should be directed to the 
Certification, Compliance Monitoring, and Evaluation helpdesk by email 
at ccme@cdfi.treas.gov or by telephone at (202) 653-0421. The CDFI Fund 
will respond to Applicants' reporting, compliance, or disbursement 
questions between the hours of 9:00 a.m. and 5:00 p.m. ET, starting on 
the date of the publication of this NOFA through June 11, 2015. The 
CDFI Fund will not respond to Applicants' reporting, compliance, or 
disbursement telephone calls or email inquiries that are received after 
5:00 p.m. ET on June 11, 2015 until after the Application deadline. The 
CDFI Fund will respond to technical issues related to myCDFIFund 
Accounts through 5:00 p.m. ET on June 17, 2015 at 
ithelpdesk@cdfi.treas.gov or by telephone at (202) 653-0422.
    B. Cost sharing or matching fund requirements: Not applicable.

IV. Application and Submission Information

    A. Address to Request an Application Package: Application materials 
can be found on Grants.gov and the CDFI Fund's Web site at 
www.cdfifund.gov/bea. Applicants may request a paper version of any 
Application material by contacting the CDFI Fund Help Desk at 
cdfihelp@cdfi.treas.gov.
    B. Content and Form of Application Submission: All Application 
materials must be prepared using the English language and calculations 
must be made in U.S. dollars. Detailed Application content requirements 
are found in the Application associated with this NOFA. Applicants must 
submit all materials described in and required by the Application by 
the applicable deadlines. Additional information, including 
instructions relating to the submission of the Application via 
Grants.gov, and the submission of the FY 2015 BEA Signature Page and 
supporting documentation via myCDFIFund, is set forth in further detail 
in the Application.
    C. Dun and Bradstreet Universal Numbering System (DUNS) Number and 
System for Award Management (SAM): Please note that, pursuant to OMB 
guidance (68 FR 38402), each Applicant must provide, as part of its 
Application submission, a Dun and Bradstreet Data Universal Numbering 
System (DUNS) number and a current Employer Identification Number 
(EIN). Applicants should allow sufficient time for the IRS and/or Dun 
and Bradstreet to respond to inquiries and/or requests for 
identification numbers. Applicants without a DUNS number will not be 
able to register and submit an Application in the Grants.gov system.
    An active SAM account is required to submit Applications via 
Grants.gov. Neither the SAM account, EIN, nor the DUNS number can be 
that of the depository institution holding company of the Applicant. 
Applicants are advised to allow ample time to complete the entire 
registration and submission process prior to the application deadline. 
The SAM registration process can take several weeks to complete. 
Applicants that have previously completed the SAM registration process 
must verify that their SAM accounts are current and active. Each 
Applicant must continue to maintain an active SAM registration with 
current information at all times during which it has an active Federal 
award or an Application under consideration by a Federal awarding 
agency. The CDFI Fund will not consider any Applicant that fails to 
properly register or activate its SAM account and, as a result, is 
unable to submit its Application by the Application deadline. 
Applicants must contact SAM directly with questions related to 
registration or SAM account changes as the CDFI Fund does not maintain 
this system. For more information about SAM, please visit https://www.sam.gov.
    An Application that does not include an EIN or DUNS number is 
incomplete and cannot be transmitted to the CDFI Fund. The preceding 
sentences do not limit the CDFI Fund's ability to contact an Applicant 
for the purpose of confirming or clarifying information regarding a 
DUNS number or EIN. Once an Application is submitted, the Applicant 
will not be allowed to change any element of the Application.
    The CDFI Fund reserves the right to request and review other 
pertinent or public information that has not been specifically 
requested in this NOFA or the Application. As set forth in further 
detail in the Application, any Qualified Activity missing the required 
documentation will be disqualified. Applicants will not be allowed to 
submit missing documentation for Qualified Activities after the 
Application deadline. Information submitted by the Applicant that the 
CDFI Fund has not specifically requested will not be reviewed or 
considered as part of the Application. Applicants must submit 
Applications under this NOFA via Grants.gov and with certain required 
documentation via myCDFIFund according to the instructions in the 
Application.
    1. Grants.gov: In order to submit an Application via Grants.gov, 
Applicants must complete a multi-step registration process. This 
includes providing a DUNS and registration at www.sam.gov. The CDFI 
Fund strongly encourages Applicants to start the Grants.gov

[[Page 25774]]

registration process as soon as possible (refer to the following link: 
http://www.grants.gov/web/grants/register.html) as it may take several 
weeks to complete. An Applicant that has previously registered with 
Grants.gov must verify that its registration is current and active. 
Applicants should contact Grants.gov directly with questions related to 
the registration or submittal process as the CDFI Fund does not 
maintain the Grants.gov system.
    2. myCDFIFund: All Applicants and CDFI Partners must complete a FY 
2015 BEA Signature Page in myCDFIFund, the CDFI Fund's Internet-based 
interface. All Applicants and CDFI Partners must register User and 
Organization accounts in myCDFIFund by the applicable Application 
deadline. Failure to register and complete a FY 2015 BEA Signature Page 
in myCDFIFund could result in the CDFI Fund being unable to accept the 
Application. As myCDFIFund is the CDFI Fund's primary means of 
communication with Applicants and Award Recipients, institutions must 
make sure that they update their contact information in their 
myCDFIFund accounts. In addition, the Applicant should ensure that the 
Applicant name is the same institution's name on the Application 
materials (SF-424 and other forms). EINs and DUNS numbers in the 
Applicant's System for Award Management (SAM) account must match those 
listed in myCDFIFund. For more information on myCDFIFund, please see 
the ``Frequently Asked Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp. Qualified Activity documentation 
and other attachments as specified in the applicable BEA Program 
Application must be submitted electronically via the BEA Signature Page 
interface in myCDFIFund. Detailed instructions regarding submission of 
Qualified Activity documentation is provided in the Application 
instructions. Applications, attachments, and Qualified Activity 
documentation delivered by hard copy to the CDFI Fund's Washington, DC 
office address will be rejected, unless the Applicant previously 
requested a paper version of the Application as described in Section 
IV.A.
    D. Submission Dates and Times: The following table provides the 
critical deadlines for the FY 2015 Funding Round. Applications and 
other required documents and other attachments received after the 
deadline on the applicable date will be rejected. Please note that the 
document submission deadlines in this NOFA and the Application are 
strictly enforced. The CDFI Fund will not grant exceptions or waivers 
for late submissions except where the submission delay was a direct 
result of a Federal government administrative or technological error.

                                      Table 4--FY 2015 BEA Program Funding Round Critical Deadlines for Applicants
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                         Time  (eastern daylight time--
             Description                          Deadline                            EDT)                              Submission method
--------------------------------------------------------------------------------------------------------------------------------------------------------
Application Part I: BEA Program       June 15, 2015...................  11:59 p.m. EDT.................  Electronically via Grants.gov.
 Application Due Date.
(Application Part I Forms include:
 SF-424 Mandatory, Environmental
 Review Form, Certifications and
 Excel charts).
Application Part II: myCDFIFund Due   June 17, 2015...................  5:00 pm EDT....................  Electronically via myCDFIFund.
 Date (This includes myCDFIFund
 account registration, BEA Signature
 Page and Documentation of Qualified
 Activities).
--------------------------------------------------------------------------------------------------------------------------------------------------------

    1. Confirmation of Application Submission: Applicants may verify 
their Application submission in Grants.gov and myCDFIFund.
    a. Grants.gov: Each Applicant will receive an email from Grants.gov 
immediately after Application submission confirming that the submission 
has entered the Grants.gov system. This email will contain a tracking 
number for the submitted Application package. Within 48 hours, the 
Applicant will receive a second email which will indicate if the 
submitted Application package was either successfully validated or 
rejected with errors. However, Applicants should not rely on the second 
email notification from Grants.gov to confirm that their Applications 
were validated. Applicants are strongly encouraged to use the tracking 
number provided in the first email to closely monitor the status of 
their Application package by contacting the helpdesk at Grants.gov 
directly. The Application package is not officially accepted by the 
CDFI Fund until Grants.gov has validated the Application.
    b. myCDFIFund.gov: Applicants will not receive an email 
confirmation for the BEA Signature Page and related materials submitted 
in myCDFIFund. Instead, Applicants should check their myCDFIFund 
account to ensure that the BEA Signature Page is listed under 
``Submitted Applications.'' Step-by-step instructions are provided in 
the Application and supplemental guidance materials.
    2. Multiple Application Submissions: If an Applicant submits 
multiple versions of its Application, the CDFI Fund will only review 
the last Application submitted in Grants.gov.
    3. Late Submission: The CDFI Fund will not accept an Application 
submitted after the Application deadline except where the submission 
delay was a direct result of a Federal government administrative or 
technological error. In such case, the Applicant must submit a request 
for acceptance of late Application submission and include documentation 
of the error no later than two business days after the applicable 
Application deadline. The CDFI Fund will not respond to request for 
acceptance of late Application submissions after that time period. 
Applicants must submit late Application submission requests to the CDFI 
Helpdesk at cdfihelp@cdfi.treas.gov with a subject line of ``Late 
Application Submission Request.''
    E. Funding Restrictions: BEA Program Awards are limited by the 
following:
    1. A Recipient shall use BEA Program funds only for the eligible 
activities described in Section II. D. of this NOFA and its Award 
Agreement.
    2. A Recipient may not distribute BEA Program funds to an 
Affiliate, Subsidiary, or any other entity, without the CDFI Fund's 
prior written approval.
    3. BEA Program funds shall only be disbursed to the Recipient.
    4. The CDFI Fund, in its sole discretion, may disburse BEA Program 
funds in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.
    F. Other Submission Requirements: None.

V. Application Review Information

    A. Criteria: If the Applicant submitted a complete and eligible 
Application, the

[[Page 25775]]

CDFI Fund will conduct a substantive review in accordance with the 
criteria and procedures described in the Regulations, this NOFA, the 
Application guidance, and the Uniform Requirements. The CDFI Fund 
reserves the right to contact the Applicant by telephone, email, or 
mail for the sole purpose of clarifying or confirming Application 
information. If contacted, the Applicant must respond within the time 
period communicated by the CDFI Fund or run the risk that its 
Application will be rejected.
    1. CDFI Related Activities: CDFI Related Activities include Equity 
Investments, Equity-Like Loans, and CDFI Support Activities provided to 
eligible CDFI Partners.
    2. Eligible CDFI Partner: CDFI Partner is defined as a CDFI that 
has been provided assistance in the form of CDFI Related Activities by 
an unaffiliated Applicant (12 CFR 1806.103(o)). For the purposes of 
this NOFA, an eligible CDFI Partner is an entity that has been 
certified as a CDFI as of the end of the applicable Assessment Period 
and is Integrally Involved in a Distressed Community.
    3. Integrally Involved: Integrally Involved is defined as having 
provided: (i) At least 10 percent of financial transactions or dollars 
transacted (e.g., loans or equity investments), or 10 percent of 
Development Service Activities (as defined in 12 CFR 1805.104(s)), in 
one or more Distressed Communities identified by the Applicant or the 
CDFI Partner, as applicable, in each of the three calendar years 
preceding the date of the applicable NOFA, (ii) having transacted at 
least 25 percent of financial transactions (e.g., loans or equity 
investments) in one or more Distressed Communities in at least one of 
the three calendar years preceding the date of this NOFA, or (iii) 
demonstrated that it has attained at least 10 percent of market share 
for a particular product in one or more Distressed Communities (such as 
home mortgages originated in one or more Distressed Communities) in at 
least one of the three calendar years preceding the date of this NOFA.
    4. Limitations on eligible Qualified Activities provided to certain 
CDFI Partners: A CDFI Applicant cannot receive credit for any financial 
assistance or Qualified Activities provided to a CDFI Partner that is 
also an FDIC-insured depository institution or depository institution 
holding company.
    5. Certificates of Deposit: Section 1806.103(q) of the Interim Rule 
states that any certificate of deposit (CD) placed by an Applicant or 
its Subsidiary in a CDFI Partner that is a bank, thrift, or credit 
union must be: (i) Uninsured and committed for at least three years; or 
(ii) insured, committed for a term of at least three years, and 
provided at an interest rate that is materially below market rates, in 
the determination of the CDFI Fund.
    a. For purposes of this NOFA, ``materially below market interest 
rate'' is defined as an annual percentage rate that does not exceed 100 
percent of yields on Treasury securities at constant maturity as 
interpolated by Treasury from the daily yield curve and available on 
the Treasury Web site at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml. For example, for a three-year CD, 
Applicants should use the three-year rate U.S. Government securities, 
Treasury Yield Curve Rate posted for that business day. The Treasury 
updates the Web site daily at approximately 5:30 p.m. ET. CDs placed 
prior to that time may use the rate posted for the previous business 
day. The annual percentage rate on a CD should be compounded daily, 
quarterly, semi-annually, or annually. If a variable interest rate is 
used, the CD must also have an interest rate that is materially below 
the market interest rate over the life of the CD, in the determination 
of the CDFI Fund.
    b. For purposes of this NOFA, a deposit placed by an Applicant 
directly with a CDFI Partner that participates in a deposit network or 
service may be treated as eligible under this NOFA if it otherwise 
meets the criteria for deposits in 1806.103(q) and the CDFI Partner 
retains the full amount of the initial deposit or an amount equivalent 
to the full amount of the initial deposit through a deposit network 
exchange transaction.
    6. Equity Investment: An Equity Investment means financial 
assistance in the form of a grant, a stock purchase, a purchase of a 
partnership interest, a purchase of a limited liability company 
membership interest, or any other investment deemed to be an Equity 
Investment by the CDFI Fund provided by an Applicant or its Subsidiary 
to a CDFI Partner that meets the criteria set forth in the applicable 
NOFA.
    7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an 
Applicant or its Subsidiary to a CDFI Partner, and made on such terms 
that it has characteristics of an Equity Investment, as such 
characteristics may be specified by the CDFI Fund (12 CFR 1806.103(z)). 
For purposes of this NOFA, an Equity-Like Loan must meet the following 
characteristics:
    a. At the end of the initial term, the loan must have a definite 
rolling maturity date that is automatically extended on an annual basis 
if the CDFI borrower continues to be financially sound and carry out a 
community development mission;
    b. Periodic payments of interest and/or principal may only be made 
out of the CDFI borrower's available cash flow after satisfying all 
other obligations;
    c. Failure to pay principal or interest (except at maturity) will 
not automatically result in a default of the loan agreement; and
    d. The loan must be subordinated to all other debt except for other 
Equity-Like Loans. Notwithstanding the foregoing, the CDFI Fund 
reserves the right to determine, in its sole discretion and on a case-
by-case basis, whether an instrument meets the above-stated 
characteristics of an Equity-Like Loan.
    8. CDFI Support Activity: A CDFI Support Activity is defined as 
assistance provided by an Applicant or its Subsidiary to a CDFI 
Partner, in the form of a loan, technical assistance, or deposits.
    9. CDFI Program Matching Funds: Equity Investments, Equity-Like 
Loans, and CDFI Support Activities (except technical assistance) 
provided by a BEA Applicant to a CDFI and used by the CDFI for matching 
funds under the CDFI Program are eligible as a Qualified Activity under 
the CDFI Related Activity category.
    10. Distressed Community Financing Activities and Service 
Activities: Distressed Community Financing Activities comply with 
consumer protection laws and include Affordable Housing Loans, 
Affordable Housing Development Loans and related Project Investments, 
Education Loans, Commercial Real Estate Loans and related Project 
Investments, Home Improvement Loans, Small Business Loans and related 
Project Investments (12 CFR 1806.103(ll)), and Small Dollar Consumer 
Loans. In addition to the regulatory requirements, this NOFA provides 
the following additional requirements:
    a. Commercial Real Estate Loans and related Project Investments: 
For purposes of this NOFA, eligible Commercial Real Estate Loans (12 
CFR 1806.103(k)) and related Project Investments (12 CFR 1806.103(ll)) 
are generally limited to transactions with a total principal value of 
$10 million or less. Notwithstanding the foregoing, the CDFI Fund, in 
its sole discretion, may consider transactions with a total principal 
value of over $10 million, subject to review. For such transactions, 
Applicants must provide a separate

[[Page 25776]]

narrative, or other information, to demonstrate that the proposed 
project offers, or significantly enhances the quality of, a facility or 
service not currently provided to the Distressed Community.
    b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible 
Small Dollar Consumer Loans are affordable loans that serve as 
available alternatives to the marketplace for individuals who are 
Eligible Residents with a total principal value between $500 and $5,000 
and have a term of ninety (90) days or more.
    11. Reporting certain Financial Services: The CDFI Fund will value 
the administrative cost of providing certain Financial Services using 
the following per unit values:
    a. $100.00 per account for Targeted Financial Services including 
youth savings accounts, Electronic Transfer Accounts and Individual 
Development Accounts;
    b. $50.00 per account for checking and savings accounts that do not 
meet the definition of Targeted Financial Services;
    c. $5.00 per check cashing transaction;
    d. $25,000 per new ATM installed at a location in a Distressed 
Community;
    e. $2,500 per ATM operated at a location in a Distressed Community;
    f. $250,000 per new retail bank branch office opened in a 
Distressed Community, including school-based bank branches approved by 
the Applicant's Federal bank regulator; and
    g. In the case of Applicants engaging in Financial Services 
activities not described above, the CDFI Fund will determine the unit 
value of such services.
    h. When reporting the opening of a new retail bank branch office, 
the Applicant must certify that it has not operated a retail branch in 
the same Distressed Community in which the new retail branch office is 
being opened in the past three years, and that such new branch will 
remain in operation for at least the next five years.
    i. Financial Service Activities must be provided by the Applicant 
to Low- and Moderate-Income Residents. An Applicant may determine the 
number of Low- and Moderate-Income individuals who are recipients of 
Financial Services by either: (i) Collecting income data on its 
Financial Services customers, or (ii) certifying that the Applicant 
reasonably believes that such customers are Low- and Moderate-Income 
individuals and providing a brief analytical narrative with information 
describing how the Applicant made this determination. Citations must be 
provided for external sources. In addition, if external sources are 
referenced in the narrative, the Applicant must explain how it reached 
the conclusion that the cited references are directly related to the 
Low-and Moderate-Income residents to whom it is claiming to have 
provided the Financial Services.
    j. When reporting changes in the dollar amount of deposit accounts, 
only calculate the net change in the total dollar amount of eligible 
Deposit Liabilities between the Baseline Period and the Assessment 
Period. Do not report each individual deposit. If the net change 
between the Baseline Period and Assessment Period is a negative dollar 
amount, then a negative dollar amount may be recorded for Deposit 
Liabilities only. Instructions for determining the net change is 
available in the Supplemental Guidance to the FY 2015 BEA Program 
Application.
    12. Priority Factors: Priority Factors are the numeric values 
assigned to individual types of activity within: (i) The Distressed 
Community Financing, and (ii) Services categories of Qualified 
Activities. For the purposes of this NOFA, Priority Factors will be 
based on the Applicant's asset size as of the end of the Assessment 
Period (December 31, 2014) as reported by the Applicant in the 
Application. Asset size classes (i.e., small institutions, 
intermediate-small institutions, and large institutions) will 
correspond to the Community Reinvestment Act (CRA) asset size classes 
set by the three Federal bank regulatory agencies and that were 
effective as of the end of the Assessment Period. The Priority Factor 
works by multiplying the change in a Qualified Activity by the assigned 
Priority Factor to achieve a ``weighted value.'' This weighted value of 
the change would be multiplied by the applicable Award percentage to 
yield the Award amount for that particular activity. For purposes of 
this NOFA, the CDFI Fund is establishing Priority Factors based on 
Applicant asset size to be applied to all activity within the 
Distressed Community Financing Activities and Service Activities 
categories only, as follows:

                 Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
                                                             Priority
                                                              factor
------------------------------------------------------------------------
Small institutions (assets of less than $305 million as              5.0
 of 12/31/2014).........................................
Intermediate--small institutions (assets of at least                 3.0
 $305 million but less than $1.221 billion as of 12/31/
 2014)..................................................
Large institutions (assets of $1.221 billion or greater              1.0
 as of 12/31/2014)......................................
------------------------------------------------------------------------

    13. Certain Limitations on Qualified Activities:
    a. Low-Income Housing Tax Credits: Financial assistance provided by 
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the 
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute 
an Equity Investment, Project Investment, or other Qualified Activity, 
for the purposes of calculating or receiving a Bank Enterprise Award.
    b. New Markets Tax Credits: Financial assistance provided by an 
Applicant for which the Applicant receives benefits as an investor in a 
Community Development Entity that has received an allocation of New 
Markets Tax Credits, authorized pursuant to Section 45D of the Internal 
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an 
Equity Investment, Project Investment, or other Qualified Activity, for 
the purposes of calculating or receiving a Bank Enterprise Award. 
Leverage loans used in New Markets Tax Credit structured transactions 
that meet the requirements outlined in this NOFA are considered 
Distressed Community Financing Activities.
    c. Loan Renewals and Refinances: Financial assistance provided by 
an Applicant shall not constitute a Qualified Activity, as defined in 
this part, for the purposes of calculating or receiving a Bank 
Enterprise Award if such financial assistance consists of a loan to a 
borrower that has matured and is then renewed by the Applicant, or 
consists of a loan to a borrower that is retired or restructured using 
the proceeds of a new commitment by the Applicant. Payoff of a separate 
third party obligation will only be considered a Qualified Activity if 
the payoff of a transaction is part of the sale of property or business 
to an unaffiliated party to the borrower. Applicants should include a 
narrative statement to describe any such transactions. Otherwise the 
transaction will be disqualified.
    d. Certain Business Types: Financial assistance provided by an 
Applicant shall not constitute a Qualified Activity,

[[Page 25777]]

as defined in this part, for the purposes of financing the following 
business types: Golf courses, race tracks, gambling facilities, certain 
farming businesses as described in 26 CFR part 1.45D-1(d)(5)(iii)(C), 
country clubs, massage parlors, hot tub facilities, suntan facilities, 
or stores where the principal business is the sale of alcoholic 
beverages for consumption off premises.
    e. Prior BEA Program Awards: Qualified Activities funded with prior 
funding round BEA Program Award dollars or funded to satisfy 
requirements of the BEA Program Award Agreement shall not constitute a 
Qualified Activity for the purposes of calculating or receiving a BEA 
Program Award.
    f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA 
Program Award for activities funded by another CDFI Fund program or 
Federal program.
    14. Award Percentages, Award Amounts, Application Review Process, 
Selection Process, Programmatic and Financial Risk, and Application 
Rejection: The Interim Rule describes the process for selecting 
Applicants to receive a BEA Program Award and determining Award 
amounts.
    a. Award percentages: In the CDFI Related Activities category 
(except for an Equity Investment or Equity-Like Loan), for CDFI 
Applicants, the estimated Award amount will be equal to 18 percent of 
the increase in Qualified Activity for the category. If an Applicant is 
not a CDFI Applicant, the estimated Award amount will be equal to 6 
percent of the increase in Qualified Activity for the category. 
Notwithstanding the foregoing, for a CDFI Applicant and for an 
Applicant that is not a CDFI Applicant, the Award percentage applicable 
to an Equity Investment, Equity-Like Loan, or Grant in a CDFI shall be 
15 percent of the increase in Qualified Activity for the category.
    In Distressed Community Financing Activities and Service Activities 
categories, for a CDFI Applicant, the estimated Award amount will be 
equal to 9 percent of the weighted value of the increase in Qualified 
Activity for the category. If an Applicant is not a CDFI Applicant, the 
estimated Award amount will be equal to 3 percent of the weighted value 
of the increase in Qualified Activity for the category.
    b. Award Amounts: Applicants will calculate and request an 
estimated Award amount in accordance with a multi-step procedure that 
is outlined in the Interim Rule (at 12 CFR 1806.403). As outlined in 
the Interim Rule at 12 CFR 1806.404, the CDFI Fund will determine 
actual Award amounts based on the availability of funds, increases in 
Qualified Activities from the Baseline Period to the Assessment Period, 
and the priority ranking of each Applicant. In calculating the increase 
in Qualified Activities, the CDFI Fund will determine the eligibility 
of each transaction for which an Applicant has applied for a Bank 
Enterprise Award. In some cases, the actual Award amount calculated by 
the CDFI Fund may not be the same as the estimated Award amount 
requested by the Applicant.
    For purposes of calculating Award disbursement amounts, the CDFI 
Fund will treat Qualified Activities with a total principal amount less 
than or equal to $250,000 as fully disbursed. For all other Qualified 
Activities, Award Recipients will have 12 months from the end of the 
Assessment Period to make disbursements and 18 months from the end of 
the Assessment Period to submit to the CDFI Fund disbursement requests 
for the corresponding portion of their Awards, after which the CDFI 
Fund will rescind and de-obligate any outstanding Award balance and 
said outstanding Award balance will no longer be available to the Award 
Recipient.
    B. Review and Selection Process:
    1. Application Review Process: All Applications will be initially 
evaluated by external non-Federal reviewers. Reviewers are selected 
based on their experience in understanding various financial 
transactions, reading and interpreting financial documentation, strong 
written communication skills, and strong mathematical skills. Reviewers 
must complete the CDFI Fund's conflict of interest process and be 
approved by the CDFI Fund. The CDFI Fund's application reader conflict 
of interest policy is located on the CDFI Fund's Web site.
    2. Selection Process: If the amount of funds available during the 
funding round is insufficient for all estimated Award amounts, Award 
Recipients will be selected based on the process described in the 
Interim Rule at 12 CFR 1806.404. This process gives funding priority to 
Applicants that undertake activities in the following order: (i) CDFI 
Related Activities, (ii) Distressed Community Financing Activities, and 
(iii) Service Activities, as described in the Interim Rule at 12 CFR 
1806.404(c).
    Within each category, CDFI Applicants will be ranked first 
according to the ratio of the actual Award amount calculated by the 
CDFI Fund for the category to the total assets of the Applicant, 
followed by Applicants that are not CDFI Applicants according to the 
ratio of the actual Award amount calculated by the CDFI Fund for the 
category to the total assets of the Applicant.
    Selections within each priority category will be based on the 
Applicants' relative rankings within each such category, subject to the 
availability of funds and any established maximum dollar amount of 
total awards that may be awarded for the Distressed Community Financing 
Activities category of Qualified Activities, as determined by the CDFI 
Fund.
    The CDFI Fund, in its sole discretion: (i) May adjust the estimated 
Award amount that an Applicant may receive, (ii) may establish a 
maximum amount that may be awarded to an Applicant, and (iii) reserves 
the right to limit the amount of an Award to any Applicant if the CDFI 
Fund deems it appropriate.
    The CDFI Fund reserves the right to contact the Applicant to 
confirm or clarify information. If contacted, the Applicant must 
respond within the CDFI Fund's time parameters or run the risk of 
having its Application rejected.
    The CDFI Fund reserves the right to change its eligibility and 
evaluation criteria and procedures. If those 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.
    3. Programmatic and Financial Risk: The CDFI Fund will consider 
safety and soundness information from the appropriate Federal bank 
regulatory agency as defined in Section 3 of the Federal Deposit 
Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank 
regulatory agency identifies safety and soundness concerns, the CDFI 
Fund will assess whether the concerns cause or will cause the Applicant 
to be incapable of completing the activities for which funding has been 
requested. The CDFI Fund will not approve a BEA Program Award under any 
circumstances for an Applicant if the appropriate Federal bank 
regulatory agency indicates that the Applicant received a composite 
rating of ``5'' on its most recent examination, performed in accordance 
with the Uniform Financial Institutions Rating System.
    Furthermore, the CDFI Fund will not approve a BEA Program Award for 
the following reasons if at the time of application the Applicant 
received any of the following:
    a. A CRA assessment rating of below ``Satisfactory'' on its most 
recent examination;
    b. a going concern opinion on its most recent audit;
    c. a Prompt Corrective Action directive from its regulator.

[[Page 25778]]

    Applicants and/or their appropriate Federal bank regulator agency 
may be contacted by the CDFI Fund to provide additional information 
related to Federal bank regulatory or CRA information. The CDFI Fund 
will consider this information and may choose to disapprove a BEA 
Program Award for an Applicant if the information indicates that the 
Applicant may be unable to responsibly manage, re-invest, and/or report 
on a BEA Program Award during the performance period.
    4. Application Rejection: The CDFI Fund reserves the right to 
reject an Application if information (including administrative error) 
comes to the CDFI Fund's attention that either: Adversely affects an 
Applicant's eligibility for an award; adversely affects the CDFI Fund's 
evaluation or scoring of an Application; or indicates fraud or 
mismanagement on the Applicant's part. If the CDFI Fund determines any 
portion of the Application is incorrect in a material respect, the CDFI 
Fund reserves the right, in its sole discretion, to reject the 
Application.
    There is no right to appeal the CDFI Fund's Award decisions. The 
CDFI Fund's Award decisions are final. The CDFI Fund will not discuss 
the specifics of an Applicant's BEA Program Application or provide 
reasons why an Applicant did not receive a BEA Program Award. The CDFI 
Fund will only respond to general questions regarding the FY 2015 
Application and Award decision process until 30 days after the award 
announcement date.
    C. Anticipated Announcement and Federal Award Dates: The CDFI Fund 
anticipates making its FY 2015 BEA Program award announcement by 
September 30, 2015.

VI. Federal Award Administration Information

    A. Federal Award Notices: The CDFI Fund will notify an Applicant of 
its selection as an Award Recipient by delivering a Notice of Award and 
Award Agreement. The Notice of Award and Award Agreement will contain 
the general terms and conditions governing the CDFI Fund's provision of 
an Award. The Award Recipient will receive a copy of the Notice of 
Award and Award Agreement via myCDFIFund. The Award Recipient is 
required to execute the Award Agreement and return it to the CDFI Fund. 
Each Award Recipient must also ensure that complete and accurate 
banking information is reflected in its System for Award Management 
(SAM) account on www.sam.gov in order to receive its award 
disbursement.
    B. Administrative and National Policy Requirements: If, prior to 
entering into an Award Agreement, information (including an 
administrative error) comes to the CDFI Fund's attention that adversely 
affects: The Award Recipient's eligibility for an award; the CDFI 
Fund's evaluation of the Application; the Award Recipient's compliance 
with any requirement listed in the Uniform Requirements; or indicates 
fraud or mismanagement on the Award Recipient's part, the CDFI Fund 
may, in its discretion and without advance notice to the Award 
Recipient, terminate the award or take other actions as it deems 
appropriate.
    If the Award Recipient's certification status as a CDFI changes, 
the CDFI Fund reserves the right, in its sole discretion, to re-
calculate the Award, modify the Notice of Award, and modify the Award 
Agreement based on the Award Recipient's non-CDFI status.
    By executing an Award Agreement, the Award Recipient agrees that, 
if the CDFI Fund becomes aware of any information (including an 
administrative error) prior to the Effective Date of the Award 
Agreement that either adversely affects the Award Recipient's 
eligibility for an Award, or adversely affects the CDFI Fund's 
evaluation of the Award Recipient's Application, or indicates fraud or 
mismanagement on the part of the Award Recipient, the CDFI Fund may, in 
its discretion and without advance notice to the Award Recipient, 
terminate the Award Agreement or take other actions as it deems 
appropriate. The CDFI Fund reserves the right, in its sole discretion, 
to rescind an award if the Award Recipient fails to return the Award 
Agreement, signed by the authorized representative of the award 
Recipient, and/or provide the CDFI Fund with any other requested 
documentation, within the CDFI Fund's deadlines. In addition, the CDFI 
Fund reserves the right, in its sole discretion, to terminate and 
rescind the Award Agreement and the award made under this NOFA for any 
criteria described in the following table:

       Table 6--Criteria That May Result in Award Termination Prior to the Execution of an Award Agreement
----------------------------------------------------------------------------------------------------------------
                  Criteria                                                Description
----------------------------------------------------------------------------------------------------------------
Failure to meet reporting requirements......  If an Applicant, is a prior CDFI Fund award Recipient or Allocatee
                                               under any CDFI Fund program and is not current on the reporting
                                               requirements set forth in the previously executed assistance,
                                               award, allocation, bond loan agreement(s), or agreement to
                                               guaranty, as of the date of the Notice of Award, the CDFI Fund
                                               reserves the right, in its sole discretion, to delay entering
                                               into an Award Agreement and/or to delay making a disbursement of
                                               Award proceeds, until said prior Recipient or Allocatee is
                                               current on the reporting requirements in the previously executed
                                               assistance, award, allocation, bond loan agreement(s), or
                                               agreement to guaranty. Please note that automated systems
                                               employed by the CDFI Fund for receipt of reports submitted
                                               electronically typically acknowledge only a report's receipt;
                                               such acknowledgment does not warrant that the report received was
                                               complete and therefore met reporting requirements. If said prior
                                               Recipient 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
                                               Notice of Award and the Award made under this NOFA.
Pending resolution of noncompliance.........  If, at any time prior to entering into an Award Agreement under
                                               this NOFA, an Applicant that is a prior CDFI Fund award Recipient
                                               or Allocatee under any CDFI Fund program: Has submitted reports
                                               to the CDFI Fund that demonstrate noncompliance with a previous
                                               assistance, award, or allocation agreement, but the CDFI Fund has
                                               yet to make a final determination regarding whether or not the
                                               entity is in default of its previous assistance, award,
                                               allocation, bond loan agreement, or agreement to guaranty, the
                                               CDFI Fund reserves the right, in its sole discretion, to delay
                                               entering into an Award Agreement and/or to delay making a
                                               disbursement of Award proceeds, pending full resolution, in the
                                               sole determination of the CDFI Fund, of the noncompliance. If
                                               said prior Recipient or Allocatee is unable to meet this
                                               requirement, in the sole determination of the CDFI Fund, the CDFI
                                               Fund reserves the right, in its sole discretion, to terminate and
                                               rescind the Notice of Award and the Award made under this NOFA.

[[Page 25779]]

 
Default status..............................  If prior to entering into an Award Agreement under this NOFA: The
                                               CDFI Fund has made a final determination that an Applicant that
                                               is a prior CDFI Fund Recipient or Allocatee under any CDFI Fund
                                               program whose award or allocation terminated in default of such
                                               prior agreement; the CDFI Fund has provided written notification
                                               of such determination to such organization; and the anticipated
                                               date for entering into the Award Agreement under this NOFA is
                                               within a period of time specified in such notification throughout
                                               which any new award, allocation, assistance, bond loan
                                               agreement(s), or agreement to guaranty is prohibited, the CDFI
                                               Fund reserves the right, in its sole discretion, to terminate and
                                               rescind the Award Agreement and the award made under this NOFA.
Compliance with Federal civil rights          If prior to entering into an Award Agreement under this NOFA, the
 requirements.                                 Recipient receives a final determination, made within the last
                                               three years, in any proceeding instituted against the Recipient
                                               in, by, or before any court, governmental, or administrative body
                                               or agency, declaring that the Award Recipient has violated the
                                               following laws: Title VI of the Civil Rights Act of 1964, as
                                               amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act
                                               of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42
                                               U.S.C. 6101-6107), and Executive Order 13166, Improving Access to
                                               Services for Persons with Limited English Proficiency, the CDFI
                                               Fund will terminate and rescind the Assistance Agreement and the
                                               award made under this NOFA.
Do Not Pay..................................  The Do Not Pay Business Center was developed to support Federal
                                               agencies in their efforts to reduce the number of improper
                                               payments made through programs funded by the Federal government.
                                               The CDFI Fund reserves the right, in its sole discretion, to
                                               rescind an award if the award Recipient is identified as
                                               ineligible to be a recipient per the Do Not Pay database.
Safety and soundness........................  If it is determined the award Recipient is or will be incapable of
                                               meeting its Award obligations, the CDFI Fund will deem the award
                                               Recipient to be ineligible or require it to improve safety and
                                               soundness conditions prior to entering into an Award Agreement.
----------------------------------------------------------------------------------------------------------------

    Award Agreement: After the CDFI Fund selects an Award Recipient, 
unless an exception detailed in this NOFA applies, the CDFI Fund and 
the Award Recipient will enter into an Award Agreement. The Award 
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 the Award; (iii) the approved uses of the 
Award; (iv) the performance goals and measures; (v) the performance 
periods; and (vi) the reporting requirements. The Award Agreement shall 
provide that an Award Recipient shall: (i) Carry out its Qualified 
Activities in accordance with applicable law, the approved Application, 
and all other applicable requirements; (ii) not receive any 
disbursement of award dollars until the CDFI Fund has determined that 
the Award Recipient has fulfilled all applicable requirements; and 
(iii) use the BEA Award amount for BEA Qualified Activities.
    C. Reporting: The CDFI Fund will require each Award Recipient that 
receives an Award of over $50,000 through this NOFA to account for and 
report to the CDFI Fund on the use of the Award. This will require 
Award Recipients to establish administrative controls, subject to 
applicable OMB Circulars. The CDFI Fund will collect information from 
each such Award Recipient on its use of the Award at least once 
following the Award and more often if deemed appropriate by the CDFI 
Fund in its sole discretion. The CDFI Fund will provide guidance to 
Award Recipients outlining the format and content of the information 
required to be provided to describe how the funds were used.
    The CDFI Fund may collect information from each Recipient 
including, but not limited to, an Annual Report with the following 
components:

                                         Table 7--Reporting Requirements
----------------------------------------------------------------------------------------------------------------
                  Criteria                                                Description
----------------------------------------------------------------------------------------------------------------
Single Audit Narrative Report (or like        The Recipient must submit, via myCDFIFund, a Single Audit
 report).                                      Narrative Report for each year of its period of performance
                                               notifying the CDFI Fund whether it is required to have a single
                                               audit pursuant to OMB Single Audit requirements.
Single Audit (if applicable) (or similar      A Recipient that is a non-profit entity that expends $750,000 or
 report).                                      more in Federal awards during its fiscal year must have a single
                                               audit conducted for that year. If a Recipient is required to
                                               complete a Single Audit Report, it should be submitted to the
                                               Federal Audit Clearinghouse see 2 CFR Subpart F-Audit
                                               Requirements in the Uniform Federal Award Requirements. For-
                                               profit award Recipients will be required to complete and submit a
                                               similar report directly to the CDFI Fund.
Use of BEA Program Award Report.............  If the award Recipient receives a BEA Program award of over
                                               $50,000, it must submit the Use of Award report to the CDFI Fund
                                               via myCDFIFund.
Explanation of Noncompliance (as applicable)  If the award Recipient fails to meet a Performance Goal or
 or successor report.                          reporting requirements, it must submit the Explanation of
                                               Noncompliance via myCDFI Fund.
----------------------------------------------------------------------------------------------------------------

    Each Award Recipient is responsible for the timely and complete 
submission of the Reporting requirements. The CDFI Fund reserves the 
right to contact the Award Recipient to request additional information 
and documentation. The CDFI Fund will use such information to monitor 
each Award Recipient's compliance with the requirements in the Award 
Agreement and to assess the impact of the BEA Program. The CDFI Fund 
reserves the right, in its sole discretion, to modify these reporting 
requirements if it determines it to be appropriate and necessary; 
however,

[[Page 25780]]

such reporting requirements will be modified only after notice has been 
provided to award Recipients.
    D. Financial Management and Accounting: The CDFI Fund will require 
award Recipients to maintain financial management and accounting 
systems that comply with Federal statutes, regulations, and the terms 
and conditions of the Federal award. These systems must be sufficient 
to permit the preparation of reports required by general and program 
specific terms and conditions, including the tracing of funds to a 
level of expenditures adequate to establish that such funds have been 
used according to the Federal statutes, regulations, and the terms and 
conditions of the Federal award.
    Each of the Qualified Activities categories will be ineligible for 
indirect costs and an associated indirect cost rate. The cost 
principles used by award Recipients must be consistent with Federal 
cost principles and support the accumulation of costs as required by 
the principles, and must provide for adequate documentation to support 
costs charged to the BEA Program award. In addition, the CDFI Fund will 
require award Recipients to: maintain effective internal controls; 
comply with applicable statutes, regulations, and the Award Agreement; 
evaluate and monitor compliance; take action when not in compliance; 
and safeguard personally identifiable information.

VII. Federal Awarding Agency Contacts

    A. Questions Related to Application and Prior Award Recipient 
Reporting, Compliance and Disbursements: The CDFI Fund will respond to 
questions concerning this NOFA, the Application and reporting, 
compliance, or disbursements between the hours of 9:00 a.m. and 5:00 
p.m. Eastern Time, starting on the date that this NOFA is published 
through the date listed in Table 1. The CDFI Fund will post responses 
to frequently asked questions in a separate document on its Web site. 
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 following table lists CDFI Fund contact information:

                                          Table 8--Contact Information
----------------------------------------------------------------------------------------------------------------
                                       Telephone number  (not toll
           Type of question                       free)                            Email addresses
----------------------------------------------------------------------------------------------------------------
BEA Program..........................  202-653-0421...............  cdfihelp@cdfi.treas.gov.
Certification, Compliance Monitoring,  202-653-0423...............  ccme@cdfi.treas.gov.
 and Evaluation.
myCDFIFund--IT Help Desk.............  202-653-0422...............  IThelpdesk@cdfi.treas.gov.
----------------------------------------------------------------------------------------------------------------

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

VIII. Other Information

    A. Reasonable Accommodations: Requests for reasonable 
accommodations under section 504 of the Rehabilitation Act should be 
directed to Mr. Michael Jones, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury at 
JonesM@cdfi.treas.gov no later than 72 hours in advance of the 
application deadline.
    B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 
U.S.C. chapter 35), an agency may not conduct or sponsor a collection 
of information, and an individual is not required to respond to a 
collection of information, unless it displays a valid OMB control 
number. Pursuant to the Paperwork Reduction Act, the BEA Program 
funding Application has been assigned the following control number: 
1559-0005.
    C. Application Information Sessions: The CDFI Fund may conduct 
webinars or host information sessions for organizations that are 
considering applying to, or are interested in learning about, the CDFI 
Fund's programs. For further information, please visit the CDFI Fund's 
Web site at http://www.cdfifund.gov.

    Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 
1806.

    Dated: April 30, 2015.
Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2015-10432 Filed 5-4-15; 8:45 am]
 BILLING CODE 4810-70-P