Funding Opportunity Title: Notice of Funds Availability Inviting Applications for the Fiscal Year 2017 Funding Round of the Capital Magnet Fund (CMF), 29984-29995 [2017-13722]
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the agency for alternate submission
instructions.
DEPARTMENT OF THE TREASURY
Community Development Financial
Institutions Fund
Authority: 49 CFR 1.93(a), 46 U.S.C.
55103, 46 U.S.C. 12121.
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By Order of the Maritime Administrator.
Dated: June 26, 2017.
Gabriel Chavez,
Acting Secretary, Maritime Administration.
[FR Doc. 2017–13816 Filed 6–29–17; 8:45 am]
Funding Opportunity Title: Notice of
Funds Availability Inviting Applications
for the Fiscal Year 2017 Funding
Round of the Capital Magnet Fund
(CMF)
Funding Opportunity Number: CDFI–
2017–CMF.
Catalog of Federal Domestic
Assistance (CFDA) Number: 21.011.
Key Dates:
Announcement Type: Announcement
of funding opportunity.
BILLING CODE 4910–81–P
TABLE 1—FY 2017 CMF PROGRAM FUNDING ROUND—CRITICAL DEADLINES FOR APPLICANTS
Description
Deadline
Time
(eastern time—ET)
Submission method
SF–424 Mandatory form ..................................
Last day to contact CMF Program Staff ..........
July 28, 2017 ..............
August 29, 2017 .........
11:59 p.m. ET ............
5:00 p.m. ET ..............
CMF Application and Required Attachments ...
August 31, 2017 .........
5:00 p.m. ET ..............
Electronically via Grants.gov.
Service Request via Awards Management Information System (AMIS) or CDFI Fund
Helpdesk:
202–653–0421
or
cmf@
cdfi.treas.gov.
Electronically via Awards Management Information System (AMIS).
Executive Summary: The Capital
Magnet Fund (CMF) is administered by
the Community Development Financial
Institutions Fund (CDFI Fund). Through
the CMF, the CDFI Fund provides
financial assistance grants to
Community Development Financial
Institutions (CDFIs), and to qualified
Nonprofit Organizations that have the
development or management of
affordable housing as one of their
principal purposes. All awards provided
through this Notice of Funds
Availability (NOFA) are subject to
funding availability.
to them in the CMF Interim Rule, the
Application, or the Uniform
Administrative Requirements. Details
regarding Application content
requirements are found in the
Application and related materials at
www.cdfifund.gov/cmf.
B. 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
nearly $2.6 billion to CDFIs, community
development organizations, and
financial institutions through the CMF,
Community Development Financial
Institutions Program (CDFI Program),
the Native American CDFI Assistance
Program (NACA Program), the Bank
Enterprise Award Program (BEA
Program), and the Financial Education
and Counseling Pilot Program. In
addition, the CDFI Fund has allocated
more than $50.5 billion in tax credit
allocation authority through the New
Markets Tax Credit Program (NMTC
Program) and has obligated $1.1 billion
in bond guarantees to Qualified Issuers
and Eligible CDFIs through the CDFI
Bond Guarantee Program.
C. Uniform Administrative
Requirements, Cost Principles, and
Audit Requirements for Federal Awards
(2 CFR part 200): The Uniform
Administrative Requirements codify
financial, administrative, procurement,
and program management standards
that Federal award-making agencies
must follow. Per the Uniform
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I. Program Description
A. Authorizing Statute and
Regulation: The CMF was established
through the Housing and Economic
Recovery Act of 2008 (HERA), which
added section 1339 to the Federal
Housing Enterprises Financial Safety
and Soundness Act of 1992. For a
complete understanding of the program,
the CDFI Fund encourages Applicants to
review the CMF interim rule (12 CFR
part 1807) as amended February 8, 2016
(the CMF Interim Rule), this NOFA, the
environmental quality regulation (12
CFR part 1815), the CMF funding
application (referred to hereafter as the
‘‘Application,’’ meaning the application
submitted in response to this NOFA),
and the Uniform Administrative
Requirements, Cost Principles, and
Audit Requirements for Federal Awards
(2 CFR part 200; 78 FR 78590) (Uniform
Administrative Requirements or UAR).
Each capitalized term used in this
NOFA, but not defined herein, shall
have the respective meanings assigned
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Administrative Requirements, when
evaluating award applications, awarding
agencies must evaluate the risks to the
program posed by each Applicant, and
each Applicant’s merits and eligibility.
These requirements are designed to
ensure that Applicants for Federal
assistance receive a fair and consistent
review prior to an award decision. This
review will assess items such as the
Applicant’s financial stability, quality of
management systems, history of
performance, and single audit findings.
In addition, the Uniform Administrative
Requirements include guidance on audit
requirements and other award
compliance requirements for award
Recipients.
D. Priorities: The purpose of the CMF
is to attract private capital for and
increase investment in the
Development, Preservation,
Rehabilitation, or Purchase of
Affordable Housing for primarily
Extremely Low-Income, Very LowIncome, and Low-Income Families, as
well as Economic Development
Activities, which, In Conjunction With
Affordable Housing Activities,
implement a Concerted Strategy to
stabilize or revitalize a Low-Income
Area or Underserved Rural Area. In the
FY 2017 funding round, the CDFI Fund
will implement these priorities by
funding: (i) Applications where a
minimum of 20 percent of all Affordable
Housing rental units that will be
financed and/or supported with FY
2017 CMF Award dollars are targeted to
Very Low-Income Families and a
minimum of 20 percent of all Affordable
Housing homeownership units that will
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be financed and/or supported with FY
2017 CMF Award dollars are targeted to
Low-Income Families; and (ii)
Applications that leverage a higher
amount of private capital to finance
and/or support Affordable Housing
Activities and Economic Development
Activities. Additionally, the CDFI Fund
seeks to fund Applications serving
geographically diverse areas of
economic distress, including
Metropolitan Areas and Underserved
Rural Areas.
E. Funding limitations: The CDFI
Fund reserves the right to fund, in
whole or in part, any, all, or none of the
Applications submitted in response to
this NOFA.
II. Federal Award Information
A. Funding Availability: The CDFI
Fund plans to make $119.5 million in
awards for the CMF FY 2017 round
under this NOFA. HERA prohibits the
CDFI Fund from obligating more than 15
percent of the aggregate available CMF
funding to any Applicant, its
Subsidiaries and Affiliates in the same
funding round. Affiliated entities are
not allowed to apply separately under
this NOFA. To provide an example of
the size of awards in past CMF funding
rounds, the CDFI Fund notes that in FY
2016 CMF round the statutory cap was
$13.7 million, but the largest amount
awarded was $5.5 million. Moreover,
given administrative and compliance
responsibilities for award Recipients,
the CDFI Fund will not accept
Applications in the FY 2017 round that
request less than $500,000 and will not
provide awards below $500,000 to any
Applicant receiving an award in the FY
2017 CMF Round.
The CDFI Fund reserves the right, in
its sole discretion, to provide a CMF
Award in an amount other than that
which the Applicant requests; however,
the award amount will not exceed the
Applicant’s award request as stated in
its Application. An Applicant may
receive only one award through the FY
2017 CMF Program Funding Round.
B. Types of Awards: The CDFI Fund
will provide CMF Awards in the form
of grants. CMF Awards must be used to
support the eligible activities as set forth
in 12 CFR 1807.301. CMF Awards
cannot be ‘‘passed through’’ to thirdparty entities, whether Affiliates,
Subsidiaries, or others, to undertake the
eligible activities set forth in 12 CFR
1807.301, without the prior written
approval of the CDFI Fund.
C. Limitations on using CMF Awards
in conjunction with other CDFI Fund
awards/allocations: 1. A CMF Award
Recipient may not use its CMF Award
and awards/allocations from other CDFI
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Fund programs to finance activities in
the same property unless the CMF
Award dollars are used to finance/
support a different ‘‘phase’’ of
development than what is funded by
other CDFI Fund program awards/
allocations. The separate phases of
development financing are considered
to be: (1) Predevelopment; (2)
acquisition; (3) site work
(preconstruction); (4) construction/
rehabilitation; (5) permanent financing;
or (6) bridge financing between two or
more phases. If the Recipient has
received multiple CMF Awards, these
awards are not subject to this phasing
restriction and may be combined in the
same Project phase. The term Recipient
includes the CMF Award Recipient and
any Affiliates.
If providing Homeownership
assistance, a CMF Award may be used
in conjunction with awards/allocations
from other CDFI Fund programs only if
the Project can be divided into such
phases, and the CMF Award is used in
a different phase from the other CDFI
Fund program awards/allocations. To
clarify, a CMF Award cannot be used for
a Homeownership property that is
permanently financed (or supported) by
both the Recipient’s CMF Award and an
award/allocation from another CDFI
Fund program (e.g., down payment
assistance funded from CMF dollars
may not be combined with a permanent
mortgage funded from another CDFI
Fund program).
2. Costs financed/supported by the
Recipient’s other awards/allocations
from CDFI Fund programs, including
awards from prior CMF rounds, may not
be counted or reported as Leveraged
Costs for the CMF Award, as further set
forth in the Assistance Agreement.
While the Recipient’s other CMF
Awards may be used to finance/support
the same property, each award must
separately meet the program
requirements as outlined in the
applicable Assistance Agreement and
the CMF interim rule (12 CFR part
1807). The term Recipient includes the
CMF Award Recipient and any
Affiliates.
In all cases, the CMF Award remains
subject to the following restriction
imposed by the CDFI Bond Guarantee
Program: Award funds received under
any CDFI Fund program cannot be used
by any participant of the CDFI Bond
Guarantee Program, including Qualified
Issuers, Eligible CDFIs, and Secondary
Borrowers, to pay principal, interest,
fees, administrative costs, or issuance
costs (including Bond Issuance Fees)
related to the CDFI Bond Guarantee
Program, or to fund the Risk Share Pool
for a Bond Issue (all capitalized terms
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used in this sentence, other than ‘‘CMF
Award’’, shall have the meanings
ascribed to them in the CDFI Bond
Guarantee Program regulations and
applicable guidance).
D. Anticipated Start Date and Period
of Performance: The CDFI Fund
anticipates the period of performance
for the FY 2017 CMF Program Funding
Round to begin in late 2017/early 2018.
The period of performance for each
CMF Award begins with the date that
the CDFI Fund announces the
Recipients of CMF Awards and
continues until the end of the ten-year
period of affordability, as set forth at 12
CFR 1807.401(d) and 12 CFR 1807.402,
and as further set forth in the Assistance
Agreement, during which time the
Recipient must meet certain
performance goals.
E. Eligible Activities: A CMF Award
must support or finance activities that
attract private capital for and increase
investment in (i) the Development,
Preservation, Rehabilitation, or
Purchase of Affordable Housing for
primarily Low-, Very Low- and
Extremely Low-Income Families, and
(ii) Economic Development Activities.
CMF Awards may only be used as
follows: (i) to provide Loan Loss
Reserves, (ii) to capitalize a Revolving
Loan Fund, (iii) to capitalize an
Affordable Housing Fund, (iv) to
capitalize a fund to support Economic
Development Activities, (v) for RiskSharing Loans, or (vi) to provide Loan
Guarantees. No more than 30 percent of
a CMF Award may be used for
Economic Development Activities. For
the FY 2017 CMF Round, the CDFI
Fund will allow all Recipients to use up
to 5 percent of their CMF Award for
Direct Administrative Expenses. The
amount available for Direct
Administrative Expenses may only be
used for direct costs (as defined by the
Uniform Administrative Requirements)
incurred by the Recipient and related to
the financing and/or support of a
Project. The CDFI Fund considers the
tracking of impacts and outcomes
associated with Projects financed and/or
supported by a CMF Award to fall under
Direct Administrative Expenses. Any
portion of the amount available for
Direct Administrative Expenses may be
used for direct costs related to the
effective tracking and evaluation of
program or evidence-based outcomes for
CMF-funded Projects.
III. Eligibility Information
A. Eligible Applicants: In order to be
eligible to apply for a CMF Award, an
Applicant must either be a Certified
CDFI or a Nonprofit Organization, as
defined in 12 CFR 1807.104. Table 2
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indicates the criteria that each entity
type must meet in order to be eligible
for a CMF Award pursuant to this
NOFA. Note: A Certified CDFI that is
also a Nonprofit Organization only
needs to meet the Certified CDFI
eligibility criteria described in Table 2,
below, in order to be eligible for a CMF
Award.
TABLE 2—APPLICANT ELIGIBILITY REQUIREMENTS
Category
Eligibility requirements
Certified CDFI .................................
b Has been in existence as a legally formed entity for at least 3 years prior to the AMIS Application deadline under this NOFA;
b Has been determined by the CDFI Fund to meet the CDFI certification requirements set forth in 12 CFR
1805.201 and as verified in the CDFI’s AMIS account as of the date of this NOFA; and
b Has not been notified by the CDFI Fund that its certification is in default or has been terminated.
b In cases where the CDFI Fund has provided a Certified CDFI with written notification that it no longer
meets one or more certification standards and has been given an opportunity to cure, the CDFI Fund will
continue to consider this Applicant to be a Certified CDFI until it has received a final determination that
its certification has been terminated.
b Has been in existence as a legally formed entity for at least 3 years prior to the AMIS Application deadline under this NOFA;
b Demonstrates, through articles of incorporation, by-laws, or other board-approved documents, that the
development or management of affordable housing are among its principal purposes; and
b Demonstrates that at least thirty-three and one-third percent of its total assets are dedicated to the development or management of affordable housing.
b All Applicants must submit the required Application documents listed in Table 4.
b The CDFI Fund will only accept Applications that use the official application templates provided on the
Grants.gov and AMIS websites. Applications submitted with alternative or altered templates will not be
considered.
b All Applicants must submit the required documents in two locations: (1) Grants.gov and (2) AMIS.
Æ Grants.gov: Applicants must submit the OMB SF–424 Mandatory (Application for Federal Assistance) form.
Æ AMIS: Applicants must submit all other required Application materials.
Æ All Applicants must register in the Grants.gov and AMIS systems to submit an Application successfully. The CDFI Fund strongly encourages Applicants to register as early as possible.
b Grants.gov and the SF–424 Mandatory form:
Æ The SF–424 must be submitted in Grants.gov before the other Application materials are submitted
in AMIS. Applicants are strongly encouraged to submit their SF–424 as early as possible via the
Grants.gov portal.
Æ Because the SF–424 is part of the Application, if the SF–424 is not accepted by Grants.gov, the
CDFI Fund will not review any materials submitted in AMIS and the Application will be deemed ineligible.
b AMIS:
Æ AMIS is the CDFI Fund’s enterprise-wide information technology system that will be used to submit
and store organization and Application information with the CDFI Fund.
Æ Applicants are only allowed one submission in AMIS.
b All Applicants must have a unique EIN assigned by the Internal Revenue Service.
b The CDFI Fund will reject an Application submitted with the EIN of a parent or Affiliate organization.
b Pursuant to OMB guidance (68 FR 38402), each Applicant must apply using its unique DUNS number
in Grants.gov.
b The CDFI Fund will reject an Application submitted with the DUNS number of a parent or Affiliate organization.
b Each Applicant must register as an organization in AMIS and submit all required Application materials
through the AMIS portal.
b The Authorized Representative must be included as a ‘‘user’’ in the Applicant’s AMIS account.
b An Applicant that fails to properly register and update its AMIS account may miss important communications from the CDFI Fund or not be able to successfully submit an Application.
b Pursuant to 2 U.S.C. 1611, any 501(c)(4) organization that engages in lobbying activities is not eligible
to apply for or receive a CMF Award.
b An Applicant may not be eligible to receive an award if proceedings have been instituted against it in,
by, or before any court, governmental agency, or administrative body, and a final determination within
the last 3 years as of the date of the NOFA indicates the Applicant has violated any of the following
laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C.2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975 (42 U.S.C. 6101–6107); Title VIII
of the Civil Rights Act of 1968, as amended (42 U.S.C. 3601 et seq.); and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency.
Nonprofit Organization ....................
Application type and submission
overview through Grants.gov and
Awards Management Information
System (AMIS).
Employer Identification Number
(EIN).
DUNS number .................................
Awards Management Information
System (AMIS).
501(c)(4) status ...............................
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Compliance with Nondiscrimination
and Equal Opportunity Statutes,
Regulations, and Executive Orders.
Any Applicant that does not meet the
criteria in Table 2 is ineligible to apply
for a CMF Award under this NOFA.
Further, Section III.B describes
additional considerations applicable to
prior award Recipients and/or
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Allocatees under any CDFI Fund
program.
B. Prior award Recipients and/or
Allocatees: Applicants must be aware
that success in a prior round of any of
the CDFI Fund’s programs is not
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indicative of success under this NOFA.
Prior award Recipients and/or
Allocatees under any CDFI Program are
eligible to apply under this NOFA,
except as noted in Table 3:
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TABLE 3—ELIGIBILITY REQUIREMENTS FOR APPLICANTS WHICH ARE PRIOR AWARD RECIPIENTS
Criteria
Description
Pending resolution of noncompliance.
Noncompliance status .....................
The CDFI Fund will consider an Application submitted by an Applicant that has pending noncompliance
issues if the CDFI Fund has not yet made a final compliance determination.
b The CDFI Fund will not consider an Application submitted by an Applicant that has a previously executed award agreement(s) if, as of the date of the NOFA, (i) the CDFI Fund has made a determination
that such entity is noncompliant with a previously executed agreement and (ii) the CDFI Fund has provided written notification that such entity is ineligible to apply for or receive any future CDFI Fund awards
or allocations. Such entities will be ineligible to submit an Application for such time period as specified
by the CDFI Fund in writing.
b The CDFI Fund will not consider any Applicant that has defaulted on a CDFI program loan within five
years of the AMIS Application deadline.
C. Contacting 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. All outstanding reporting and
compliance questions should be
directed to the Certification,
Compliance Monitoring, and Evaluation
help desk by AMIS Service Requests or
by telephone at (202) 653–0421. 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 August 29, 2017 until after
the Application deadline. The CDFI
Fund will respond to technical issues
related to AMIS Accounts through 5:00
p.m. ET on August 31, 2017, via AMIS
Service Requests, or at AMIS@
cdfi.treas.gov, or by telephone at (202)
653–0422.
D. Cost sharing or matching funds
requirements: Not applicable.
E. Other Eligibility Criteria:
1. Debarment/Do not pay verification:
The CDFI Fund will conduct a
debarment check and will not consider
an Application if the Applicant is
delinquent on any Federal debt or
otherwise ineligible to receive a Federal
award. 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 and provides delinquency
information to the CDFI Fund to assist
with the debarment check.
2. Entities that Submit Applications
Together with Affiliates: As part of the
Application review process, the CDFI
Fund considers whether Applicants are
Affiliates, as such term is defined in 12
CFR1807.104. If an Applicant and its
Affiliates wish to submit Applications,
they must do so collectively, in one
Application; an Applicant and its
Affiliates may not submit separate
Applications. If Affiliates submit
multiple or separate Applications, the
CDFI Fund will reject all such
Applications received.
Furthermore, an Applicant that
receives an award in this CMF round
may not become an Affiliate of another
Applicant that receives an award in this
CMF round at any time after the
submission of a CMF Application under
this NOFA. This requirement will also
be a term and condition of the
Assistance Agreement (see additional
Application guidance materials on the
CDFI Fund’s Web site at https://
www.cdfifund.gov/cmf for more details).
3. An Applicant will not be eligible to
receive a CMF Award if the Applicant
fails to demonstrate in the Application
that its CMF Award would result in
Eligible Project Costs (Leveraged Costs
plus those costs funded by the CMF
Award) that equal at least 10 times the
amount of the CMF Award. Note that no
costs attributable to Direct
Administrative Expenses may be
considered Eligible Project Costs.
IV. Application and Submission
Information
A. Address to Request Application
Package: Application materials can be
found on the Grants.gov and the CDFI
Fund’s Web site at www.cdfifund.gov/
cmf. Applicants may request a paper
version of any Application material by
contacting the CDFI Fund Help Desk by
email at cmf@cdfi.treas.gov or by phone
at (202) 653–0421.
B. Content and Form of Application
Submission: The CDFI Fund will post to
its Web site, at www.cdfifund.gov/cmf,
instructions for accessing and
submitting an Application. Detailed
Application content requirements are
found in the Application and related
guidance documents. All Applications
must be prepared in English and
calculations must be made in U.S.
dollars. Table 4 lists the required
funding Application documents for the
FY 2017 CMF Program Funding Round.
Applicants must submit all required
documents for the Application to be
deemed complete. The CDFI Fund
reserves the right to request and review
other pertinent or public information
that has not been specifically requested
in this NOFA or the Application.
Information submitted by the Applicant
that the CDFI Fund has not specifically
requested will not be reviewed or
considered as part of the Application.
Information submitted must accurately
reflect the Applicant’s activities.
TABLE 4—FUNDING APPLICATION DOCUMENTS
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Application document
Submission format
Required?
Standard Form (SF) 424 Mandatory Form .............................................
CMF Application ......................................................................................
Fillable PDF in Grants.gov ............
AMIS ..............................................
Required for all Applicants.
Required for all Applicants.
Attachments to the Application
Audited financial statements (most recent 2 fiscal years) ......................
Any management letters related to the audited financial statements
(most recent 2 fiscal years).
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PDF in AMIS ..................................
PDF in AMIS ..................................
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Required for all Applicants.
Required for all Applicants.
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TABLE 4—FUNDING APPLICATION DOCUMENTS—Continued
Application document
Submission format
Required?
State Charter, Articles of Incorporation, or other establishing documents designating that the Applicant is a nonprofit or not-for-profit
entity under the laws of the organization’s State of formation.
A certification demonstrating tax exempt status from the IRS. For Applicants that are governmental instrumentalities only, and as long as
all other eligibility requirements are met, the CDFI Fund will accept
a legal opinion from counsel, in form and substance acceptable to
the CDFI Fund, opining that the Applicant is exempt from federal
taxation.
Articles of incorporation, by-laws or other documents demonstrating
that the Applicant has a principal purpose of managing or developing affordable housing.
PDF in AMIS ..................................
Required only for Applicants that
are not Certified CDFIs.
PDF in AMIS ..................................
Required only for Applicants that
are not Certified CDFIs.
PDF in AMIS ..................................
Required only for Applicants that
are not Certified CDFIs.
The CDFI Fund has a sequential, twostep process that requires the
submission of Application documents
in separate systems and on separate
deadlines. The SF–424 form must be
submitted through Grants.gov and all
other application documents through
the AMIS portal. The CDFI Fund will
not accept Applications via email, mail,
facsimile, or other forms of
communication, except in extremely
rare circumstances that have been preapproved by the CDFI Fund. The
separate application deadlines for the
SF–424 and all other Application
materials are listed in Tables 1 and 5.
Only the Authorized Representative or
Application Point of Contact designated
in AMIS may submit the Application
through AMIS.
Applicants are strongly encouraged to
submit the SF–424 as early as possible
through Grants.gov to provide sufficient
time to resolve any submission
problems. Applicants should contact
Grants.gov directly with questions
related to the registration or submission
process as the CDFI Fund does not
administer the Grants.gov system.
The CDFI Fund strongly encourages
Applicants to start the Grants.gov
registration process as soon as possible
as it may take several weeks to complete
(refer to the following link: https://
www.grants.gov/web/grants/
register.html). An Applicant that has
previously registered with Grants.gov
must verify that its registration is
current and active.
C. Dun and Bradstreet Data Universal
Numbering System (DUNS): Pursuant to
the Uniform Administrative
Requirements, each Applicant must
provide as part of its Application
submission, a valid Dun & Bradstreet
Data Universal Numbering System
(DUNS) number. Any Applicant without
a DUNS number will not be able to
register and submit an Application in
the Grants.gov system. Please allow
sufficient time for Dun & Bradstreet to
respond to inquiries and/or requests for
DUNS numbers.
D. System for Award Management
(SAM): Any entity applying for Federal
grants or other forms of Federal
financial assistance through Grants.gov
must be registered in SAM before
submitting its Application materials
through that platform. 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.
E. Submission Dates and Times:
1. Submission Deadlines: Table 5 lists
the deadlines for submission of the
documents related to the FY 2017 CMF
Program Funding Round:
TABLE 5—FY 2017 CMF DEADLINES FOR APPLICANTS
Deadline
Time—eastern time
(ET)
SF–424 Mandatory form ................
CMF Application and Required Attachments.
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Document
July 28, 2017 ................................
August 31, 2017 ...........................
11:59 pm ET .................................
5:00 pm ET ...................................
2. Confirmation of Application
Submission in Grants.gov and AMIS:
Applicants are required to submit the
OMB SF–424 Mandatory (Application
for Federal Assistance) form through the
Grants.gov system and must submit all
other required Application materials
through the AMIS Web site. Application
materials submitted through each
system are due by the applicable
deadline listed in Table 5. Applicants
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must submit the SF–424 by an earlier
deadline than that of the other required
application materials in AMIS. If the
SF–424 is not successfully submitted
through Grants.gov by the
corresponding deadline, the CDFI Fund
will not review any of the materials
submitted in AMIS, and the Application
will be deemed ineligible. Thus,
Applicants are strongly encouraged to
submit the SF–424 as early as possible
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Submission method
Electronically via Grants.gov.
Electronically via AMIS.
in the Grants.gov portal since
submission problems may impact the
ability to submit the overall
Application.
(a) Grants.gov Submission
Information: Each Applicant will
receive an email from Grants.gov
immediately after submitting the SF–
424 confirming that the submission has
entered the Grants.gov system. This
email will contain a tracking number for
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the submitted SF–424. Within 48 hours,
the Applicant will receive a second
email which will indicate if the
submitted SF–424 was either
successfully validated or rejected with
errors. However, Applicants should not
rely on the email notification from
Grants.gov to confirm that their SF–424
was validated. Applicants are strongly
encouraged to use the tracking number
provided in the first email to closely
monitor the status of their SF–424 by
contacting the helpdesk at Grants.gov
directly. The Application materials
submitted in AMIS are not officially
accepted by the CDFI Fund until
Grants.gov has validated the SF–424. If
using the Grants.gov Workspace
function, please note that the
Application package has not been
submitted if you have not received a
tracking number.
(b) Award Management Information
System (AMIS) Submission Information:
AMIS is a web-based portal where
Applicants will directly enter their
Application information and add
required attachments listed in Table 4.
AMIS will verify that the Applicant
provided the minimum information
required to submit an Application.
Applicants are responsible for the
quality and accuracy of the information
and attachments included in the
Application submitted in AMIS. The
CDFI Fund strongly encourages the
Applicant to allow sufficient time to
confirm the Application content, review
the material submitted, and remedy any
issues prior to the Application deadline.
Applicants can only submit one
Application in AMIS. Upon submission,
the Application will be locked and
cannot be resubmitted, edited, or
modified in any way. The CDFI Fund
will not unlock or allow multiple
Application submissions.
3. Multiple Application Submissions:
If an Applicant submits multiple SF–
424 Applications in Grants.gov, the
CDFI Fund will only review the last SF–
424 Application submitted in
Grants.gov. Applicants may only submit
one Application through AMIS.
4. Late Submission: The CDFI Fund
will not accept an Application
submitted after the applicable
Grants.gov or AMIS Application
deadline, except where the submission
delay was a direct result of a Federal
government administrative or
technological error. This exception
includes any errors associated with
Grants.gov, SAM.gov, AMIS or any other
applicable government system. Please
note that this exception does not apply
to errors arising from obtaining a DUNS
number from Dun & Bradstreet, which is
not a government entity. An Applicant
unable to make timely submission of its
Application due to any errors in the
process of obtaining a DUNS number
will not be allowed to submit its
Application after the application
deadline has passed. In the event of a
government administrative or
technological error causing delay, 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 requests for acceptance of
late Application submissions after that
time period. Applicants must submit
late Application submission requests via
Service Request in AMIS with the
subject line of ‘‘FY2017 CMF: Late
Application Submission Request.’’
5. Intergovernmental Review: Not
Applicable.
6. Funding Restrictions: CMF Awards
are limited by the following:
(a) A Recipient shall use CMF Award
funds only for the eligible activities set
forth in 12 CFR 1807.301 and as
described in Section II.C and Section
II.E of this NOFA and its Assistance
Agreement.
(b) A Recipient may not disburse CMF
Award funds to an Affiliate, Subsidiary,
or any other entity without the CDFI
Fund’s prior written approval.
(c) CMF Award Payment shall only be
made to the Recipient.
(d) The CDFI Fund, in its sole
discretion, may pay CMF Awards in
amounts, or under terms and
conditions, which are different from
those requested by an Applicant.
7. Other Submission Requirements:
Each Applicant must register as an
organization in AMIS in order to submit
the required Application materials
through this portal. The Authorized
29989
Representative and/or application
point(s) of contact must be included as
‘‘Contacts’’ in the Applicant’s AMIS
account. The Authorized Representative
must also be a ‘‘user’’ in AMIS and must
electronically sign the Application prior
to submission through AMIS. An
Applicant that fails to properly register
and update its AMIS account may miss
important communications from the
CDFI Fund or fail to submit an
Application successfully. After
submitting its Application, the
Applicant will not be permitted to
revise or modify its Application in any
way or attempt to negotiate the terms of
an award.
V. Application Review Information
A. Criteria: All complete and eligible
Applications will be reviewed in
accordance with the criteria and
procedures described in the CMF
Interim Rule, this NOFA, the
Application guidance, and the Uniform
Administrative Requirements. As part of
the review process, the CDFI Fund
reserves the right to contact the
Applicant by telephone, email, mail, or
through an on-site visit for the sole
purpose of clarifying or confirming
Application information at any point
during the review process. The CDFI
Fund reserves the right to collect such
additional information from Applicants
as it deems appropriate. If contacted, the
Applicant must respond within the time
period communicated by the CDFI Fund
or its Application may be rejected. For
the sake of clarity, specific application
evaluation criteria are described in the
context of the overall application review
and selection process described in
Section V.B. below.
B. Review and Selection Process:
The CDFI Fund will evaluate each
complete and eligible Application using
the multi-phase review process
described in this Section.
1. Quantitative Assessment: Each
complete and eligible Application will
receive a numeric score based on the
responses to quantitative questions in
the Application. Applications may
receive a score of up to 100 points based
on the following factors outlined in
Table 6.
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TABLE 6—QUANTITATIVE ASSESSMENT FACTORS
Section
Points
Business and Leveraging Strategy ..
40
....................
....................
35
Community Impact ............................
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Assessment criteria
•
•
•
•
Private leverage multiplier, including the portion from 3rd parties.
Reasonableness of projected activities based on track record.
Applicant-level leverage multiplier.
Percent of rental housing units targeted to Very Low-Income or below (50% of AMI or
below).
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TABLE 6—QUANTITATIVE ASSESSMENT FACTORS—Continued
Section
Points
....................
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Financial Health ................................
Assessment criteria
• Percent of homeownership units targeted to Low-Income or below (80% of AMI or
below).
• Commitment to only finance Economic Development Activities in Low-Income Areas.
• Percent of housing units to be produced in Areas of Economic Distress.
• Capitalization.
• Operating Performance.
• Net income.
• Liquidity.
• Audit Results.
....................
....................
25
....................
....................
....................
....................
Within the Business and Leveraging
Strategy Section of the Quantitative
Assessment, an Applicant will generally
score more favorably to the extent it: Is
leveraging a high multiplier of private
capital, particularly third party capital;
has a proven track record; and is
leveraging some portion of capital at the
Applicant-level.
Within the Community Impact
Section, an Applicant will generally
score more favorably to the extent that
it: Commits to producing a higher
percentage of rental housing units
targeted to Very Low-Income Families
(if proposing to use CMF for rental
housing); commits to producing a higher
percentage of homeownership units
targeted to Low-Income Families (if
proposing to use CMF for
homeownership); commits to only
financing Economic Development
Activities in Low-Income Areas (if
proposing to use CMF for economic
development); and commits to
producing a higher percentage of units
in Areas of Economic Distress. Areas of
Economic Distress are census tracts: (a)
Where at least 20 percent of households
that are Very Low-Income (50% of AMI
or below) spend more than half of their
income on housing; or (b) where the
unemployment rate is at least 1.5 times
the national average; or (c) that are LowIncome Housing Tax Credit Qualified
Census Tracts; or (d) where greater than
20 percent of households have incomes
below the poverty rate and the rental
vacancy rate is at least 10 percent; or (e)
where greater than 20 percent of the
households have incomes below the
poverty rate and the homeownership
vacancy rate is at least 10 percent; or (f)
Are Underserved Rural Areas as defined
in the CMF Interim Rule (as amended
February 8, 2016; 12 CFR part 1807).
Within the Financial Health section,
Applicants will generally score more
favorably to the extent that their 3-year
financial data indicates: Strong
capitalization, operating performance,
and liquidity; positive net income; and
that the Applicant has not had any
negative results (e.g. opinion other than
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17:32 Jun 29, 2017
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unqualified; a ‘‘going concern
paragraph;’’ repeat finding of reportable
conditions; material weaknesses in
internal control) in any of the three most
recently completed annual audits.
Once the quantitative score is
determined, Applicants will be grouped
into two categories: (1) Those with a
maximum Non-Metropolitan Area
investment of 50 percent or greater and
(2) all other Applicants. Applicants in
each category will be ranked in
descending order based on their
quantitative review score. The top 75
percent of Applications in each category
will be forwarded to the next level of
review: External Application Review.
The CDFI Fund reserves the right to
forward additional Applications to the
External Application Review phase in
order to ensure that a diversity of
geographies are served by the
Applicants reviewed in the External
Application Review phase. The CDFI
Fund also reserves the right not to
implement the Quantitative Assessment
if it receives fewer than 140 CMF
Applications.
2. External Application Review:
Applications that advance from the
Quantitative Assessment will be
separately scored by more than one
external non-Federal reviewer who are
selected based on criteria that include:
A professional background in affordable
housing and community and economic
development finance with extensive
background in affordable housing.
These reviewers must complete the
CDFI Fund’s conflict of interest process
and be approved by the CDFI Fund.
Reviewers will be assigned a set number
of Applications to review. The reviewer
will provide a score for each of the
Applications assessed in accordance
with the scoring criteria outlined in
Section V.B.2 of this NOFA and the
Application materials.
The external reviewer’s evaluation
will result in the Application being
awarded up to 100 total points by each
reviewer. These points will be
distributed across three sections:
Business and Leveraging Strategy (40
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Frm 00170
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possible points), Community Impact (35
possible points), and Organizational
Capacity (25 possible points). An
Applicant’s final External Application
review score will be a composite based
on the external reviewers’ evaluation
and Quantitative Assessment factors.
The majority of the score will be based
on the external reviewers’ evaluation.
(a) Business and Leveraging Strategy
(40 points): In the Business and
Leveraging Strategy section, the
Applicant will address: (i) The needs of
communities and persons in its
proposed Service Area(s) and the extent
to which the proposed strategy
addresses these needs; (ii) the affordable
housing and financing gaps addressed
by its business strategy; (iii) the
projected CMF activities and track
record; (iv) plans to incorporate a CMF
Award into project finance; (v) its
strategy for leveraging private capital
with a CMF Award, particularly thirdparty capital; and (vi) its strategy for
leveraging its CMF Award at the
Enterprise-level and/or through reinvestments (if applicable).
An Applicant will generally score
more favorably in the criteria evaluated
by the external reviewer to the extent
that it: (i) Clearly aligns its proposed
CMF Award activities with the
affordable housing and financing gaps it
identifies; (ii) demonstrates that its
projected activities are achievable based
on the Applicant’s strategy and track
record; (iii) describes a clear process for
locating projects and proposes activities
that have a clear need for CMF
financing; (iv) has a clear strategy for
and track record of leveraging private
capital; and (v) has a clear strategy for
and demonstrates a track record of
leveraging funds at the enterprise-level
and/or through re-investments (if
applicable).
(b) Community Impact (35 points): In
the Community Impact Section, the
Applicant will address: (i) Projected
outcomes and impacts of Affordable
Housing Activities and Economic
Development Activities; (ii) its strategy
and track record of producing housing
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units targeted to Low-Income Families
(for homeownership) and to Very LowIncome Families (for rental); (iii) if
applicable, its strategy and track record
of financing and/or supporting
Economic Development Activities and
how these activities will benefit the
residents of nearby Affordable Housing;
and (iv) its strategy for engaging lowincome stakeholders to inform its
business strategy. An Applicant will
generally score more favorably in the
criteria evaluated by the external
reviewer to the extent that it: (i)
Demonstrates how the expected
outcomes will address community
needs; (ii) demonstrates a clear and
compelling strategy for producing
housing units targeted to Low-Income
Families (for homeownership) and VeryLow Income Families (for rental); (iii)
for Economic Development Activities, it
demonstrates how its proposed
Economic Development Activities fit
within a Concerted Strategy and will
benefit the residents of the surrounding
Affordable Housing; and (iv)
demonstrates that feedback from LowIncome stakeholders will inform the
Applicant’s business strategy.
(c) Organizational Capacity (25
points): In the Organizational Capacity
section, the Applicant will discuss: (i)
Its management team and key staff; (ii)
the roles and responsibilities of those
staff in managing a CMF Award; (iii) its
past experience managing other Federal
Awards; and (iv) its financial health and
lending portfolio (if applicable).
An Applicant will generally score
more favorably in the criteria evaluated
by the external reviewer to the extent
that it demonstrates: (i) Strong
qualifications of its key personnel with
respect to their skills and experience
identifying investments, underwriting
similar projects, managing a portfolio of
similar activities and ensuring
compliance with program requirements;
(ii) success in administering prior CMF
Awards and/or other Federal program
awards; (iii) strong financial health; and
(iv) solid portfolio performance (if
applicable).
(d) Scoring anomaly: If, in the case of
a particular Application, the reviewers’
total external Application review scores
vary significantly, the CDFI Fund may,
in its sole discretion, obtain the
evaluation and numeric scoring of an
additional reviewer to determine
whether the anomalous score should be
replaced with the score of the additional
reviewer.
3. Internal Application Review: At the
conclusion of the External Application
Review phase, Applications will be
ranked based on their external review
score. Up to 50 of the highest scoring
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17:32 Jun 29, 2017
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Applications in the External
Application Review phase will be
forwarded to Internal Application
Review in descending order of rank
score to receive further consideration for
an Award. These forwarded
applications will constitute the highly
qualified pool. During the Internal
Application Review, CDFI Fund staff
will prioritize the Applications in the
highly qualified pool for award based on
the following criteria: (i) Final external
Application review score, (ii) alignment
with CMF statutory and policy
priorities, and (iii) the overall quality of
the Applicant’s strategy.
In assessing the Application’s
alignment with CMF statutory and
policy priorities, CDFI Fund staff will
consider the following factors,
including, but not limited to: The
Applicant’s proposed outcomes and
benefits in areas of economic distress;
income targeting of the portfolio of
affordable units to be produced; and the
amount of third-party private capital
that the Applicant will attract to its
Service Area.
In assessing the quality of the
Applicant’s strategy, the CDFI Fund
staff will consider the following factors,
including, but not limited to: (i) The
quality of the Applicant’s strategy with
respect to how the strategy and
financing activities address community
needs; (ii) whether these outcomes are
likely to be achieved if the Applicant’s
strategy is implemented and the extent
to which these outcomes are
quantifiable and evidence-based; (iii)
whether the Applicant’s projections are
supported by its track record; (iv)
whether the proposed financing
activities will help to fill the financing
gaps in their market; (v) whether the
CMF funds will contribute to the
Applicant offering more favorable rates
and terms than are currently available in
that market; (vi) the likely success of the
strategy to leverage private capital; (vii)
whether the strategy is adaptable to
changing market conditions; (viii)
whether the proposed deployment/
redeployment schedule is realistic and
achievable; and (ix) whether the
Applicant has the appropriate financial,
organizational, and programmatic
capacity to implement the strategy.
The Internal Review will also include
an analysis of the Applicant’s likely
capacity to: Meet award management
standards; file appropriate reports and
address findings from audits; and the
Applicant’s ability to effectively
implement Federal requirements.
Applicants may be re-prioritized for an
award or award amounts may be
reduced as a result of this analysis. In
the case of an Applicant that has
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29991
received awards from other Federal
programs, the CDFI Fund reserves the
right to contact officials from the
appropriate Federal agency or agencies
to determine whether the Recipient is in
compliance with current or prior
assistance agreements, and to take such
information into consideration before
making a CMF Award. In the case of an
Applicant that has previously received
funding through any CDFI Fund
program, the CDFI Fund will consider
and may, in its discretion, deduct up to
5 points from the External Application
Review score for those Applicants (or
their Affiliates) that, within 24 months
prior to the Application deadline, are
late in meeting reporting requirements
for existing awards.
4. Selection: Once Applications have
been internally evaluated and
preliminary award determinations have
been made, the Applications will be
forwarded to a selecting official for a
final award determination. After
preliminary award determinations are
made, the selecting official will review
the list of potential Recipients to
determine whether the Recipient pool
meets the following statutory objectives:
(a) The potential Recipients’ proposed
Service Areas collectively represent
broad geographic coverage throughout
the United States; and
(b) The potential Recipients’ proposed
activities equitably represent both
Metropolitan Areas and NonMetropolitan Areas, as defined in the
CMF Interim Rule, and as further set
forth in the Application.
To the extent practicable, the CDFI
Fund reserves the right to modify CMF
Award amounts and/or the CMF
Recipient pool if deemed necessary to
achieve either of these desired
outcomes. In order to evaluate the
geographic coverage of the potential
CMF Recipient pool, Applicants will be
asked to designate one of the following
three Service Area types in their
Applications: Local, Statewide, or
Multi-State. These Service Area types
are further defined in the Application;
the largest Service Area an Applicant
can propose is a 10 state Multi-State
Service Area. To achieve greater
investment in Non-Metropolitan Areas
and/or broader geographic coverage, the
CDFI Fund may consider an Application
ranked outside of the highly qualified
pool to receive an award. However, the
CDFI Fund will not award an
Application that scores in the bottom 50
percent of the External Review score
rankings.
In cases where the selecting official’s
award determination varies significantly
from the initial CMF Award amount
recommended by the CDFI Fund staff
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review, the CMF Award
recommendation will be forwarded to a
reviewing official for final
determination. The CDFI Fund, in its
sole discretion, reserves the right to
reject an Application and/or adjust CMF
Award amounts as appropriate based on
information obtained during the review
process.
(c) Insured Depository Institution
Applicants: In the case of Applicants
that are Insured Depository Institutions
or Insured Credit Unions, the CDFI
Fund will consider safety and
soundness information from the
Appropriate Federal Banking Agency or
Appropriate State Agency, as
applicable. If the Applicant is a CDFI
Depository Institution Holding
Company, the CDFI Fund will consider
information provided by the
Appropriate Federal Banking Agency
and Appropriate State Agency about
both the CDFI Depository Institution
Holding Company and the CDFI Insured
Depository Institution that will expend
and carry out the award. If the
Appropriate Federal Banking Agency or
Appropriate State Agency identifies
safety and soundness concerns, the
CDFI Fund will assess whether the
concerns cause or will cause the
Applicant to be incapable of
undertaking the activities for which
funding has been requested.
5. Right of Rejection: The CDFI Fund
reserves the right to reject an
Application if information (including
administrative errors) comes to the
attention of the CDFI Fund that
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 that any
portion of the Application is incorrect
in any material respect, the CDFI Fund
reserves the right, in its sole discretion,
to reject the Application. The CDFI
Fund reserves the right to change its
eligibility and evaluation criteria and
procedures, if the CDFI Fund deems it
appropriate. If said changes materially
affect the CDFI Fund’s award decisions,
the CDFI Fund will provide information
regarding the changes through the CDFI
Fund’s Web site. There is no right to
appeal the CDFI Fund’s award
decisions. The CDFI Fund’s award
decisions are final.
6. Anticipated Award Announcement:
The CDFI Fund anticipates making CMF
Award announcements in late 2017 or
early 2018.
VI. Federal Award Administration
Information
A. Award Notification: Each
successful Applicant will receive an
email notification from the CDFI Fund
stating that its Application has been
approved for an award. Each Applicant
not selected for an award will receive an
email stating that a debriefing document
has been provided in its AMIS account.
B. Administrative and National Policy
Requirements: The CDFI Fund may, in
its discretion and without advance
notice to the Recipient, terminate the
award or take other actions as it deems
appropriate if, prior to entering into an
Assistance Agreement, information
(including an administrative error)
comes to the CDFI Fund’s attention that
adversely affects the following: The
Recipient’s eligibility for an award; the
CDFI Fund’s evaluation of the
Application; the Recipient’s compliance
with any requirement listed in the
Uniform Requirements; or indicates
fraud or mismanagement on the
Recipient’s part.
If the Recipient’s certification status
as a CDFI changes, the CDFI Fund
reserves the right, in its sole discretion,
to re-calculate the CMF Award, or
modify the Assistance Agreement based
on the Recipient’s non-CDFI status.
By executing an Assistance
Agreement, the Recipient agrees that, if
the CDFI Fund becomes aware of any
information (including an
administrative error) prior to the
Effective Date of the Assistance
Agreement that either adversely affects
the Recipient’s eligibility for an CMF
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 Recipient, the CDFI Fund may, in its
discretion and without advance notice
to the Recipient, terminate the
Assistance 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 Recipient fails to return the
Assistance Agreement, signed by an
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 Assistance
Agreement and the award made under
this NOFA for any criteria described in
Table 7:
TABLE 7—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT
Criteria
Failure to meet reporting requirements.
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Requirement
If a Recipient 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 guarantee, as of the date of the Notice of Award, the CDFI Fund reserves the
right, in its sole discretion, to delay entering into an Assistance Agreement and/or to delay making a Payment
of CMF Award, 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 guarantee. 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, nor that it 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 CMF Award made under this NOFA.
A Recipient must be a Certified CDFI or an eligible Nonprofit Organization, as each is defined in the CMF Interim
Rule and this NOFA, prior to entering into an Assistance Agreement as well as during the application process.
If, at any time prior to entering into an Assistance Agreement under this NOFA, an Applicant that is a Certified
CDFI has submitted reports (or failed to submit an annual certification report as instructed by the CDFI Fund)
to the CDFI Fund that demonstrate noncompliance with the requirements for certification, but the CDFI Fund
has yet to make a final determination regarding whether or not the entity is Certified, the CDFI Fund reserves
the right, in its sole discretion, to delay entering into an Assistance Agreement and/or to delay making a Payment of CMF Award, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance.
If the Applicant 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 CMF Award made
under this NOFA.
Failure to maintain CDFI
Certification (if applicable)
or eligible Nonprofit Organization status (if applicable).
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29993
TABLE 7—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT—Continued
Requirement
Pending resolution of noncompliance.
Default or Noncompliance
status.
Final Default and Sanctions
Compliance with Federal civil
rights requirements.
Do Not Pay ...........................
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Safety and soundness .........
Criteria
If, at any time prior to entering into an Assistance 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 guarantee, the CDFI Fund reserves the right, in its
sole discretion, to delay entering into an Assistance Agreement and/or to delay making a Payment of CMF
Award, 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
CMF Award made under this NOFA.
If, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that a Recipient is in
default of a previously executed agreement with the CDFI Fund and the Recipient has been provided written
notification of such determination, the CDFI Fund can delay entering into an Assistance Agreement, until the
Recipient has cured the default, if applicable, by taking actions the CDFI Fund has specified within the specified timeframe. Further, if, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that a Recipient is noncompliant with an FY 2015 agreement, or with agreements for fiscal years thereafter, under any CDFI Fund program, the CDFI Fund can delay entering into an Assistance Agreement, until
the Recipient has cured the noncompliance by taking actions the CDFI Fund has specified within the specified
timeframe. If the Recipient is unable to meet the cure requirement, if applicable, within the specified timeframe,
the CDFI Fund may terminate and rescind the Assistance Agreement and the CMF Award made under this
NOFA.
If the CDFI Fund has found the Recipient in final default of a prior executed agreement and provided notification
of sanctions, the CDFI Fund may delay entering into an Assistance Agreement with the Recipient, impose conditions prior to entering in Assistance Agreement, or modify or rescind the CMF Award made under this NOFA
within the time period specified in such notification.
The CDFI Fund will terminate and rescind the Assistance Agreement and the CMF Award made under this NOFA
if, prior to entering into an Assistance Agreement under this NOFA, the Recipient receives a final determination, made within the last 3 years, in any proceeding instituted against the Recipient in, by, or before any court,
governmental, or administrative body or agency, declaring that the CMF 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); Title VIII of
the Civil Rights Act of 1968, as amended (42 U.S.C. 3601 et seq.); and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency.
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 on the Do Not Pay database.
If it is determined that the Recipient is or will be incapable of meeting its CMF Award obligations, the CDFI Fund
will deem the Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Assistance Agreement.
C. Assistance Agreement: Each
Applicant that is selected to receive an
award under this NOFA must enter into
an Assistance Agreement with the CDFI
Fund in order to become a Recipient
and receive Payment. Each CMF Award
under this NOFA generally will have a
period of performance that begins with
the announcement date of the award
and continues until the end of the
period of affordability, as set forth at 12
CFR 1807.401(d) and 12 CFR 1807.402,
and as further set forth in the Assistance
Agreement.
1. The Assistance Agreement will set
forth certain required terms and
conditions of the CMF Award, which
will include, but not be limited to:
(a) The amount of the award;
(b) The approved uses of the award;
(c) The approved Service Area in
which the award may be used;
(d) Performance goals and measures;
and
(e) Reporting requirements for all
Recipients.
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2. The Assistance Agreement shall
provide that, prior to any determination
by the CDFI Fund that a Recipient has
failed to comply substantially with the
Act, the CMF Interim Rule, or the
environmental quality regulations, the
CDFI Fund shall provide the Recipient
with reasonable notice and opportunity
for hearing. For failure by the Recipient
to comply substantially with the
Assistance Agreement, the CDFI Fund
may:
(a) Require changes in the
performance goals set forth in the
Assistance Agreement;
(b) Reduce or terminate the CMF
Award; or
(c) Require repayment of any CMF
Award that has been distributed to the
Recipient.
3. The Assistance Agreement shall
also provide that, if the CDFI Fund
determines noncompliance with the
terms and conditions of the Assistance
Agreement on the part of the Recipient,
the CDFI Fund may:
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(a) Bar the Recipient from reapplying
for any assistance from the CDFI Fund;
or
(b) Take such other actions as the
CDFI Fund deems appropriate or as set
forth in the Assistance Agreement.
4. In addition to entering into an
Assistance Agreement, each Applicant
selected to receive a CMF Award must
furnish to the CDFI Fund a certificate of
good standing from the jurisdiction in
which it was formed. The CDFI Fund
may, in its sole discretion, also require
the Applicant to furnish an opinion
from its legal counsel, the content of
which may be further specified in the
Assistance Agreement, and which,
among other matters, opines that:
(a) The Recipient is duly formed and
in good standing in the jurisdiction in
which it was formed and the
jurisdiction(s) in which it transacts
business;
(b) The Recipient has the authority to
enter into the Assistance Agreement and
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Federal Register / Vol. 82, No. 125 / Friday, June 30, 2017 / Notices
undertake the activities that are
specified therein;
(c) The Recipient has no pending or
threatened litigation that would
materially affect its ability to enter into
and carry out the activities specified in
the Assistance Agreement;
(d) The Recipient is not in default of
its articles of incorporation or
formation, bylaws or operating
agreements, other organizational or
establishing documents, or any
agreements with the Federal
government; and
(e) The CMF affordability restrictions
that are to be imposed by deed
restrictions, covenants running with the
land, or other CDFI Fund approved
mechanisms are recordable and
enforceable under the laws of the State
and locality where the Recipient will
undertake its CMF activities.
D. Paperwork Reduction Act: Under
the Paperwork Reduction Act (44 U.S.C.
chapter 35), an agency may not conduct
or sponsor a collection of information,
and an individual is not required to
respond to a collection of information,
unless it displays a valid OMB control
number. If applicable, the CDFI Fund
may inform Applicants that they do not
need to provide certain Application
information otherwise required.
Pursuant to the Paperwork Reduction
Act, the CMF Program Application has
been assigned the following control
number: 1559–0036.
E. Reporting: The CDFI Fund will
require each Recipient that receives a
CMF Award through this NOFA to
account for and report to the CDFI Fund
on the use of the CMF Award. This will
require Recipients to establish
administrative controls, subject to the
Uniform Administrative Requirements
and other applicable OMB guidance.
The CDFI Fund will collect information
from each such Recipient on its use of
the CMF Award at least once following
Payment and more often if deemed
appropriate by the CDFI Fund in its sole
discretion. The CDFI Fund will provide
guidance to 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 components listed in
Table 8:
TABLE 8—REPORTING REQUIREMENTS
Criteria
Description
Single Audit Narrative Report (or like report) .....
The Recipient must submit, via AMIS, 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 part 200, 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.
The Recipient must submit a performance report not less than annually, which is a progress
report on the Recipient’s use of the CMF Award towards meeting its Performance Goals, affordable housing outcomes, and the Recipient’s overall performance. The CMF performance
report covers the Announcement Date through the Investment Period for the CMF Award
and the ten-year Affordability Period for each project. The Investment Period shall mean the
period beginning with the effective date of the Assistance Agreement and ending not earlier
than the fifth year anniversary of the effective date or as otherwise established in the Assistance Agreement. The Affordability Period shall mean, for each CMF-funded project, the period beginning on the date when the project is placed into service and consisting of the full
ten consecutive years thereafter or as otherwise established in the Assistance Agreement.
If the award Recipient fails to meet a performance goal or reporting requirements, it must submit the Explanation of Noncompliance via AMIS.
Single Audit (if applicable) (or similar report) .....
Performance Report ............................................
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Explanation of Noncompliance (as applicable) or
successor report.
Each Recipient is responsible for the
timely and complete submission of the
annual reporting documents. The CDFI
Fund will use such information to
monitor each Recipient’s compliance
with the requirements set forth in the
Assistance Agreement and to assess the
impact of the CMF. The CDFI Fund
reserves the right, in its sole discretion,
to modify these reporting requirements
if it determines it to be appropriate and
necessary; however, such reporting
requirements will be modified only after
notice to Recipients.
F. Financial Management and
Accounting: The CDFI Fund will require
Recipients to maintain financial
management and accounting systems
that comply with Federal statutes,
regulations, and the terms and
conditions of the CMF Award. These
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17:32 Jun 29, 2017
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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 in accordance with the
Federal statutes, regulations, and the
terms and conditions of the CMF
Award.
The cost principles used by
Recipients must be consistent with
Federal cost principles; must support
the accumulation of costs as required by
the principles; and must provide for
adequate documentation to support
costs charged to the CMF Award. In
addition, the CDFI Fund will require
Recipients to: Maintain effective
internal controls; comply with
applicable statutes and regulations, the
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Assistance Agreement, and related
guidance; evaluate and monitor
compliance; take action when not in
compliance; and safeguard personally
identifiable information.
VII. Agency Contacts
A. Availability: The CDFI Fund will
respond to questions and provide
support concerning this NOFA and the
Application between the hours of 9:00
a.m. and 5:00 p.m. ET, starting on the
date of the publication of this NOFA
until the close of business on the third
day preceding the Application deadline.
The CDFI Fund will not respond to
questions or provide support concerning
the Application that are received after
5:00 p.m. ET on said date, until after the
Application deadline. CDFI Fund IT
support will be available until 5:00 p.m.
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Federal Register / Vol. 82, No. 125 / Friday, June 30, 2017 / Notices
ET on date of the Application deadline.
Applications and other information
regarding the CDFI Fund and its
programs may be obtained from the
CDFI Fund’s Web site at https://
www.cdfifund.gov/cmf. The CDFI Fund
will post on its Web site responses to
29995
questions of general applicability
regarding the CMF.
B. The CDFI Fund’s contact
information is listed in Table 9:
TABLE 9—CONTACT INFORMATION
Type of question
Telephone
number
(not toll free)
CMF ..........................................................
CDFI Certification .....................................
Compliance Monitoring and Evaluation ....
Information Technology Support ..............
202–653–0421
202–653–0421
202–653–0421
202–653–0422
The preferred method of contact is to
submit a Service Request (SR) within
AMIS. For a CMF Application question,
select ‘‘General Inquiry’’ for the record
type and select ‘‘CMF-Application’’ for
the type. For a CDFI Certification or
Compliance question, select ‘‘General
Inquiry’’ for the record type and select
the appropriate type. For Information
Technology, select ‘‘General Inquiry’’
for the record type and select ‘‘CMF–
AMIS technical problem’’ for the type.
Failure to select the appropriate type of
SR could result in delays in responding
to your question.
C. Communication with the CDFI
Fund: The CDFI Fund will use AMIS to
communicate with Applicants and
Recipients, using the contact
information maintained in their
respective AMIS accounts. Therefore,
the Recipient and any Subsidiaries,
signatories, and Affiliates must maintain
accurate contact information (including
contact persons and Authorized
Representatives, email addresses, fax
numbers, phone numbers, and office
addresses) in its AMIS account(s). For
more information about AMIS please
see the Help documents posted at
https://amis.cdfifund.gov/s/Training.
Authority: Pub. L. 110–289. 12 U.S.C.
4701, 12 CFR part 1805, 12 CFR part 1807,
12 CFR part 1815, 12 U.S.C. 4502.
Mary Ann Donovan,
Director, Community Development Financial
Institutions Fund.
[FR Doc. 2017–13722 Filed 6–29–17; 8:45 am]
BILLING CODE 4810–70–P
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Sanctions Actions Pursuant to
Executive Orders
Office of Foreign Assets
Control, Department of the Treasury.
AGENCY:
ACTION:
Notice.
VerDate Sep<11>2014
17:32 Jun 29, 2017
Jkt 241001
Email addresses/AMIS Service Request
Submit
Submit
Submit
Submit
an
an
an
an
AMIS
AMIS
AMIS
AMIS
Service
Service
Service
Service
Request
Request
Request
Request
The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing the names
of persons whose property and interests
in property are blocked pursuant to the
following authorities: Executive Order
(E.O.) 13660, E.O. 13661, and E.O.
13685, or who are subject to the
prohibitions of one or more directives
under E.O. 13662.
DATES: OFAC’s actions described in this
notice were effective on June 20, 2017.
FOR FURTHER INFORMATION CONTACT: The
Department of the Treasury’s Office of
Foreign Assets Control: Assistant
Director for Licensing, tel.: 202–622–
2480, Assistant Director for Regulatory
Affairs, tel.: 202–622–4855, Assistant
Director for Sanctions Compliance &
Evaluation, tel.: 202–622–2490; or the
Department of the Treasury’s Office of
the Chief Counsel (Foreign Assets
Control), Office of the General Counsel,
tel.: 202–622–2410.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Electronic Availability
The list of Specially Designated
Nationals and Blocked Persons (SDN
List) and additional information
concerning OFAC sanctions programs
are available on OFAC’s Web site at
https://www.treasury.gov/ofac. A
complete listing of persons determined
to be subject to one or more directives
under E.O. 13662, as discussed in detail
in this Notice, can be found in the
Sectoral Sanctions Identifications List at
https://Start Printed Page
95304www.treasury.gov/resourcecenter/sanctions/SDN-List/Pages/
ssi_list.aspx.
Notice of OFAC Actions
On June 20, 2017, OFAC blocked the
property and interests in property of the
following persons pursuant to E.O.
13660, ‘‘Blocking Property of Certain
Persons Contributing to the Situation in
Ukraine’’:
1. MURATOV, Aleksey (a.k.a.
MURATOV, Aleksey Valentinovich
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Fmt 4703
Sfmt 4703
in AMIS or cmf@cdfi.treas.gov.
in AMIS.
in AMIS.
or email AMIS@cdfi.treas.gov.
(Cyrillic: VEHFNJD, Fktrctq
Dfktynbyjdbx); a.k.a. MURATOV,
Alexei), Moscow, Russia; Donetsk,
Ukraine; DOB 17 Feb 1978; Gender
Male (individual) [UKRAINE–
EO13660].
2. BULGAKOV, Vadim Viktorovich,
Crimea, Ukraine; DOB 30 Jan 1969;
POB Simferopol, Crimea, Ukraine;
Gender Male (individual) [UKRAINE–
EO13660].
3. KHORSHEVA, Natalya Ivanovna
(a.k.a. KHORSHEVA, Nataliya; a.k.a.
KHORSHEVA, Natalya), Luhansk,
Ukraine; DOB 14 Jul 1972; Gender
Female (individual) [UKRAINE–
EO13660].
4. JAROSH, Petr Grigorievich (a.k.a.
YAROSH, Petro; a.k.a. YAROSH,
Pyotr), Crimea, Ukraine; DOB 30 Jan
1971; POB Skvortsovo village,
Simferopol region, Crimea, Ukraine;
Gender Male (individual) [UKRAINE–
EO13660].
5. KOSTRUBITSKY, Aleksey
Aleksandrovich (a.k.a.
KOSTRUBITSKIJ, Aleksej
Aleksandrovich; a.k.a.
KOSTRUBITSKY, Alexei; a.k.a.
KOSTRUBITSKY, Olexiy
Oleksandrovych; a.k.a.
KOSTRUBYTSKYY, Oleksiy), in/h A–
0050, Donetsk, Ukraine; DOB 24 Aug
1978; POB Russia; Gender Male
(individual) [UKRAINE–EO13660].
6. DIKIY, Aleksey Aleksandrovich
(a.k.a. DIKIJ, Aleksej Aleksandrovich;
a.k.a. DIKIY, Olexiy Oleksandrovych;
a.k.a. DYKYY, Oleksiy), Donetsk,
Ukraine; DOB 05 Jul 1974; Gender
Male (individual) [UKRAINE–
EO13660].
7. NIKITINA, Irina (a.k.a. NIKITINA,
Irina Petrovna; a.k.a. NIKITINA, Iryna
Petrivna), Ukraine; DOB 17 May 1968;
Gender Female (individual)
[UKRAINE–EO13660].
8. KAMSHILOV, Oleg Anatolievich,
Crimea, Ukraine; DOB 1969; POB
Piketnoy Marjanovsky District, Omsk
Region, Russia; nationality Russia;
Gender Male (individual) [UKRAINE–
EO13660].
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Agencies
[Federal Register Volume 82, Number 125 (Friday, June 30, 2017)]
[Notices]
[Pages 29984-29995]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13722]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Funding Opportunity Title: Notice of Funds Availability Inviting
Applications for the Fiscal Year 2017 Funding Round of the Capital
Magnet Fund (CMF)
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2017-CMF.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.011.
Key Dates:
Table 1--FY 2017 CMF Program Funding Round--Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
SF-424 Mandatory form................ July 28, 2017.......... 11:59 p.m. ET.......... Electronically via
Grants.gov.
Last day to contact CMF Program Staff August 29, 2017........ 5:00 p.m. ET........... Service Request via
Awards Management
Information System
(AMIS) or CDFI Fund
Helpdesk: 202-653-0421
or cmf@cdfi.treas.gov.
CMF Application and Required August 31, 2017........ 5:00 p.m. ET........... Electronically via
Attachments. Awards Management
Information System
(AMIS).
----------------------------------------------------------------------------------------------------------------
Executive Summary: The Capital Magnet Fund (CMF) is administered by
the Community Development Financial Institutions Fund (CDFI Fund).
Through the CMF, the CDFI Fund provides financial assistance grants to
Community Development Financial Institutions (CDFIs), and to qualified
Nonprofit Organizations that have the development or management of
affordable housing as one of their principal purposes. All awards
provided through this Notice of Funds Availability (NOFA) are subject
to funding availability.
I. Program Description
A. Authorizing Statute and Regulation: The CMF was established
through the Housing and Economic Recovery Act of 2008 (HERA), which
added section 1339 to the Federal Housing Enterprises Financial Safety
and Soundness Act of 1992. For a complete understanding of the program,
the CDFI Fund encourages Applicants to review the CMF interim rule (12
CFR part 1807) as amended February 8, 2016 (the CMF Interim Rule), this
NOFA, the environmental quality regulation (12 CFR part 1815), the CMF
funding application (referred to hereafter as the ``Application,''
meaning the application submitted in response to this NOFA), and the
Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 200; 78 FR 78590) (Uniform
Administrative Requirements or UAR). Each capitalized term used in this
NOFA, but not defined herein, shall have the respective meanings
assigned to them in the CMF Interim Rule, the Application, or the
Uniform Administrative Requirements. Details regarding Application
content requirements are found in the Application and related materials
at www.cdfifund.gov/cmf.
B. 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 nearly $2.6 billion to CDFIs, community development
organizations, and financial institutions through the CMF, Community
Development Financial Institutions Program (CDFI Program), the Native
American CDFI Assistance Program (NACA Program), the Bank Enterprise
Award Program (BEA Program), and the Financial Education and Counseling
Pilot Program. In addition, the CDFI Fund has allocated more than $50.5
billion in tax credit allocation authority through the New Markets Tax
Credit Program (NMTC Program) and has obligated $1.1 billion in bond
guarantees to Qualified Issuers and Eligible CDFIs through the CDFI
Bond Guarantee Program.
C. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 200): The Uniform
Administrative Requirements codify financial, administrative,
procurement, and program management standards that Federal award-making
agencies must follow. Per the Uniform Administrative Requirements, when
evaluating award applications, awarding agencies must evaluate the
risks to the program posed by each Applicant, and each Applicant's
merits and eligibility. These requirements are designed to ensure that
Applicants for Federal assistance receive a fair and consistent review
prior to an award decision. This review will assess items such as the
Applicant's financial stability, quality of management systems, history
of performance, and single audit findings. In addition, the Uniform
Administrative Requirements include guidance on audit requirements and
other award compliance requirements for award Recipients.
D. Priorities: The purpose of the CMF is to attract private capital
for and increase investment in the Development, Preservation,
Rehabilitation, or Purchase of Affordable Housing for primarily
Extremely Low-Income, Very Low-Income, and Low-Income Families, as well
as Economic Development Activities, which, In Conjunction With
Affordable Housing Activities, implement a Concerted Strategy to
stabilize or revitalize a Low-Income Area or Underserved Rural Area. In
the FY 2017 funding round, the CDFI Fund will implement these
priorities by funding: (i) Applications where a minimum of 20 percent
of all Affordable Housing rental units that will be financed and/or
supported with FY 2017 CMF Award dollars are targeted to Very Low-
Income Families and a minimum of 20 percent of all Affordable Housing
homeownership units that will
[[Page 29985]]
be financed and/or supported with FY 2017 CMF Award dollars are
targeted to Low-Income Families; and (ii) Applications that leverage a
higher amount of private capital to finance and/or support Affordable
Housing Activities and Economic Development Activities. Additionally,
the CDFI Fund seeks to fund Applications serving geographically diverse
areas of economic distress, including Metropolitan Areas and
Underserved Rural Areas.
E. Funding limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA.
II. Federal Award Information
A. Funding Availability: The CDFI Fund plans to make $119.5 million
in awards for the CMF FY 2017 round under this NOFA. HERA prohibits the
CDFI Fund from obligating more than 15 percent of the aggregate
available CMF funding to any Applicant, its Subsidiaries and Affiliates
in the same funding round. Affiliated entities are not allowed to apply
separately under this NOFA. To provide an example of the size of awards
in past CMF funding rounds, the CDFI Fund notes that in FY 2016 CMF
round the statutory cap was $13.7 million, but the largest amount
awarded was $5.5 million. Moreover, given administrative and compliance
responsibilities for award Recipients, the CDFI Fund will not accept
Applications in the FY 2017 round that request less than $500,000 and
will not provide awards below $500,000 to any Applicant receiving an
award in the FY 2017 CMF Round.
The CDFI Fund reserves the right, in its sole discretion, to
provide a CMF Award in an amount other than that which the Applicant
requests; however, the award amount will not exceed the Applicant's
award request as stated in its Application. An Applicant may receive
only one award through the FY 2017 CMF Program Funding Round.
B. Types of Awards: The CDFI Fund will provide CMF Awards in the
form of grants. CMF Awards must be used to support the eligible
activities as set forth in 12 CFR 1807.301. CMF Awards cannot be
``passed through'' to third-party entities, whether Affiliates,
Subsidiaries, or others, to undertake the eligible activities set forth
in 12 CFR 1807.301, without the prior written approval of the CDFI
Fund.
C. Limitations on using CMF Awards in conjunction with other CDFI
Fund awards/allocations: 1. A CMF Award Recipient may not use its CMF
Award and awards/allocations from other CDFI Fund programs to finance
activities in the same property unless the CMF Award dollars are used
to finance/support a different ``phase'' of development than what is
funded by other CDFI Fund program awards/allocations. The separate
phases of development financing are considered to be: (1)
Predevelopment; (2) acquisition; (3) site work (preconstruction); (4)
construction/rehabilitation; (5) permanent financing; or (6) bridge
financing between two or more phases. If the Recipient has received
multiple CMF Awards, these awards are not subject to this phasing
restriction and may be combined in the same Project phase. The term
Recipient includes the CMF Award Recipient and any Affiliates.
If providing Homeownership assistance, a CMF Award may be used in
conjunction with awards/allocations from other CDFI Fund programs only
if the Project can be divided into such phases, and the CMF Award is
used in a different phase from the other CDFI Fund program awards/
allocations. To clarify, a CMF Award cannot be used for a Homeownership
property that is permanently financed (or supported) by both the
Recipient's CMF Award and an award/allocation from another CDFI Fund
program (e.g., down payment assistance funded from CMF dollars may not
be combined with a permanent mortgage funded from another CDFI Fund
program).
2. Costs financed/supported by the Recipient's other awards/
allocations from CDFI Fund programs, including awards from prior CMF
rounds, may not be counted or reported as Leveraged Costs for the CMF
Award, as further set forth in the Assistance Agreement. While the
Recipient's other CMF Awards may be used to finance/support the same
property, each award must separately meet the program requirements as
outlined in the applicable Assistance Agreement and the CMF interim
rule (12 CFR part 1807). The term Recipient includes the CMF Award
Recipient and any Affiliates.
In all cases, the CMF Award remains subject to the following
restriction imposed by the CDFI Bond Guarantee Program: Award funds
received under any CDFI Fund program cannot be used by any participant
of the CDFI Bond Guarantee Program, including Qualified Issuers,
Eligible CDFIs, and Secondary Borrowers, to pay principal, interest,
fees, administrative costs, or issuance costs (including Bond Issuance
Fees) related to the CDFI Bond Guarantee Program, or to fund the Risk
Share Pool for a Bond Issue (all capitalized terms used in this
sentence, other than ``CMF Award'', shall have the meanings ascribed to
them in the CDFI Bond Guarantee Program regulations and applicable
guidance).
D. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2017 CMF Program
Funding Round to begin in late 2017/early 2018. The period of
performance for each CMF Award begins with the date that the CDFI Fund
announces the Recipients of CMF Awards and continues until the end of
the ten-year period of affordability, as set forth at 12 CFR
1807.401(d) and 12 CFR 1807.402, and as further set forth in the
Assistance Agreement, during which time the Recipient must meet certain
performance goals.
E. Eligible Activities: A CMF Award must support or finance
activities that attract private capital for and increase investment in
(i) the Development, Preservation, Rehabilitation, or Purchase of
Affordable Housing for primarily Low-, Very Low- and Extremely Low-
Income Families, and (ii) Economic Development Activities. CMF Awards
may only be used as follows: (i) to provide Loan Loss Reserves, (ii) to
capitalize a Revolving Loan Fund, (iii) to capitalize an Affordable
Housing Fund, (iv) to capitalize a fund to support Economic Development
Activities, (v) for Risk-Sharing Loans, or (vi) to provide Loan
Guarantees. No more than 30 percent of a CMF Award may be used for
Economic Development Activities. For the FY 2017 CMF Round, the CDFI
Fund will allow all Recipients to use up to 5 percent of their CMF
Award for Direct Administrative Expenses. The amount available for
Direct Administrative Expenses may only be used for direct costs (as
defined by the Uniform Administrative Requirements) incurred by the
Recipient and related to the financing and/or support of a Project. The
CDFI Fund considers the tracking of impacts and outcomes associated
with Projects financed and/or supported by a CMF Award to fall under
Direct Administrative Expenses. Any portion of the amount available for
Direct Administrative Expenses may be used for direct costs related to
the effective tracking and evaluation of program or evidence-based
outcomes for CMF-funded Projects.
III. Eligibility Information
A. Eligible Applicants: In order to be eligible to apply for a CMF
Award, an Applicant must either be a Certified CDFI or a Nonprofit
Organization, as defined in 12 CFR 1807.104. Table 2
[[Page 29986]]
indicates the criteria that each entity type must meet in order to be
eligible for a CMF Award pursuant to this NOFA. Note: A Certified CDFI
that is also a Nonprofit Organization only needs to meet the Certified
CDFI eligibility criteria described in Table 2, below, in order to be
eligible for a CMF Award.
Table 2--Applicant Eligibility Requirements
------------------------------------------------------------------------
Category Eligibility requirements
------------------------------------------------------------------------
Certified CDFI.................... [squ] Has been in existence as a
legally formed entity for at least
3 years prior to the AMIS
Application deadline under this
NOFA;
[squ] Has been determined by the
CDFI Fund to meet the CDFI
certification requirements set
forth in 12 CFR 1805.201 and as
verified in the CDFI's AMIS account
as of the date of this NOFA; and
[squ] Has not been notified by the
CDFI Fund that its certification is
in default or has been terminated.
[squ] In cases where the CDFI Fund
has provided a Certified CDFI with
written notification that it no
longer meets one or more
certification standards and has
been given an opportunity to cure,
the CDFI Fund will continue to
consider this Applicant to be a
Certified CDFI until it has
received a final determination that
its certification has been
terminated.
Nonprofit Organization............ [squ] Has been in existence as a
legally formed entity for at least
3 years prior to the AMIS
Application deadline under this
NOFA;
[squ] Demonstrates, through articles
of incorporation, by-laws, or other
board-approved documents, that the
development or management of
affordable housing are among its
principal purposes; and
[squ] Demonstrates that at least
thirty-three and one-third percent
of its total assets are dedicated
to the development or management of
affordable housing.
Application type and submission [squ] All Applicants must submit the
overview through Grants.gov and required Application documents
Awards Management Information listed in Table 4.
System (AMIS). [squ] The CDFI Fund will only accept
Applications that use the official
application templates provided on
the Grants.gov and AMIS websites.
Applications submitted with
alternative or altered templates
will not be considered.
[squ] All Applicants must submit the
required documents in two
locations: (1) Grants.gov and (2)
AMIS.
[cir] Grants.gov: Applicants must
submit the OMB SF-424 Mandatory
(Application for Federal
Assistance) form.
[cir] AMIS: Applicants must
submit all other required
Application materials.
[cir] All Applicants must
register in the Grants.gov and
AMIS systems to submit an
Application successfully. The
CDFI Fund strongly encourages
Applicants to register as early
as possible.
[squ] Grants.gov and the SF-424
Mandatory form:
[cir] The SF-424 must be
submitted in Grants.gov before
the other Application materials
are submitted in AMIS.
Applicants are strongly
encouraged to submit their SF-
424 as early as possible via the
Grants.gov portal.
[cir] Because the SF-424 is part
of the Application, if the SF-
424 is not accepted by
Grants.gov, the CDFI Fund will
not review any materials
submitted in AMIS and the
Application will be deemed
ineligible.
[squ] AMIS:
[cir] AMIS is the CDFI Fund's
enterprise-wide information
technology system that will be
used to submit and store
organization and Application
information with the CDFI Fund.
[cir] Applicants are only allowed
one submission in AMIS.
Employer Identification Number [squ] All Applicants must have a
(EIN). unique EIN assigned by the Internal
Revenue Service.
[squ] The CDFI Fund will reject an
Application submitted with the EIN
of a parent or Affiliate
organization.
DUNS number....................... [squ] Pursuant to OMB guidance (68
FR 38402), each Applicant must
apply using its unique DUNS number
in Grants.gov.
[squ] The CDFI Fund will reject an
Application submitted with the DUNS
number of a parent or Affiliate
organization.
Awards Management Information [squ] Each Applicant must register
System (AMIS). as an organization in AMIS and
submit all required Application
materials through the AMIS portal.
[squ] The Authorized Representative
must be included as a ``user'' in
the Applicant's AMIS account.
[squ] An Applicant that fails to
properly register and update its
AMIS account may miss important
communications from the CDFI Fund
or not be able to successfully
submit an Application.
501(c)(4) status.................. [squ] Pursuant to 2 U.S.C. 1611, any
501(c)(4) organization that engages
in lobbying activities is not
eligible to apply for or receive a
CMF Award.
Compliance with Nondiscrimination [squ] An Applicant may not be
and Equal Opportunity Statutes, eligible to receive an award if
Regulations, and Executive Orders. proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination within the last 3
years as of the date of the NOFA
indicates the Applicant has
violated any of the following laws:
Title VI of the Civil Rights Act of
1964, as amended (42 U.S.C.2000d);
Section 504 of the Rehabilitation
Act of 1973 (29 U.S.C. 794); the
Age Discrimination Act of 1975 (42
U.S.C. 6101-6107); Title VIII of
the Civil Rights Act of 1968, as
amended (42 U.S.C. 3601 et seq.);
and Executive Order 13166,
Improving Access to Services for
Persons with Limited English
Proficiency.
------------------------------------------------------------------------
Any Applicant that does not meet the criteria in Table 2 is
ineligible to apply for a CMF Award under this NOFA. Further, Section
III.B describes additional considerations applicable to prior award
Recipients and/or Allocatees under any CDFI Fund program.
B. Prior award Recipients and/or Allocatees: Applicants must be
aware that success in a prior round of any of the CDFI Fund's programs
is not indicative of success under this NOFA. Prior award Recipients
and/or Allocatees under any CDFI Program are eligible to apply under
this NOFA, except as noted in Table 3:
[[Page 29987]]
Table 3--Eligibility Requirements for Applicants Which Are Prior Award
Recipients
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Pending resolution of The CDFI Fund will consider an
noncompliance. Application submitted by an
Applicant that has pending
noncompliance issues if the CDFI
Fund has not yet made a final
compliance determination.
Noncompliance status.............. [squ] The CDFI Fund will not
consider an Application submitted
by an Applicant that has a
previously executed award
agreement(s) if, as of the date of
the NOFA, (i) the CDFI Fund has
made a determination that such
entity is noncompliant with a
previously executed agreement and
(ii) the CDFI Fund has provided
written notification that such
entity is ineligible to apply for
or receive any future CDFI Fund
awards or allocations. Such
entities will be ineligible to
submit an Application for such time
period as specified by the CDFI
Fund in writing.
[squ] The CDFI Fund will not
consider any Applicant that has
defaulted on a CDFI program loan
within five years of the AMIS
Application deadline.
------------------------------------------------------------------------
C. Contacting 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. All outstanding reporting and compliance
questions should be directed to the Certification, Compliance
Monitoring, and Evaluation help desk by AMIS Service Requests or by
telephone at (202) 653-0421. 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 August 29, 2017
until after the Application deadline. The CDFI Fund will respond to
technical issues related to AMIS Accounts through 5:00 p.m. ET on
August 31, 2017, via AMIS Service Requests, or at AMIS@cdfi.treas.gov,
or by telephone at (202) 653-0422.
D. Cost sharing or matching funds requirements: Not applicable.
E. Other Eligibility Criteria:
1. Debarment/Do not pay verification: The CDFI Fund will conduct a
debarment check and will not consider an Application if the Applicant
is delinquent on any Federal debt or otherwise ineligible to receive a
Federal award. 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 and
provides delinquency information to the CDFI Fund to assist with the
debarment check.
2. Entities that Submit Applications Together with Affiliates: As
part of the Application review process, the CDFI Fund considers whether
Applicants are Affiliates, as such term is defined in 12 CFR1807.104.
If an Applicant and its Affiliates wish to submit Applications, they
must do so collectively, in one Application; an Applicant and its
Affiliates may not submit separate Applications. If Affiliates submit
multiple or separate Applications, the CDFI Fund will reject all such
Applications received.
Furthermore, an Applicant that receives an award in this CMF round
may not become an Affiliate of another Applicant that receives an award
in this CMF round at any time after the submission of a CMF Application
under this NOFA. This requirement will also be a term and condition of
the Assistance Agreement (see additional Application guidance materials
on the CDFI Fund's Web site at https://www.cdfifund.gov/cmf for more
details).
3. An Applicant will not be eligible to receive a CMF Award if the
Applicant fails to demonstrate in the Application that its CMF Award
would result in Eligible Project Costs (Leveraged Costs plus those
costs funded by the CMF Award) that equal at least 10 times the amount
of the CMF Award. Note that no costs attributable to Direct
Administrative Expenses may be considered Eligible Project Costs.
IV. Application and Submission Information
A. Address to Request Application Package: Application materials
can be found on the Grants.gov and the CDFI Fund's Web site at
www.cdfifund.gov/cmf. Applicants may request a paper version of any
Application material by contacting the CDFI Fund Help Desk by email at
cmf@cdfi.treas.gov or by phone at (202) 653-0421.
B. Content and Form of Application Submission: The CDFI Fund will
post to its Web site, at www.cdfifund.gov/cmf, instructions for
accessing and submitting an Application. Detailed Application content
requirements are found in the Application and related guidance
documents. All Applications must be prepared in English and
calculations must be made in U.S. dollars. Table 4 lists the required
funding Application documents for the FY 2017 CMF Program Funding
Round. Applicants must submit all required documents for the
Application to be deemed complete. The CDFI Fund reserves the right to
request and review other pertinent or public information that has not
been specifically requested in this NOFA or the Application.
Information submitted by the Applicant that the CDFI Fund has not
specifically requested will not be reviewed or considered as part of
the Application. Information submitted must accurately reflect the
Applicant's activities.
Table 4--Funding Application Documents
------------------------------------------------------------------------
Application document Submission format Required?
------------------------------------------------------------------------
Standard Form (SF) 424 Mandatory Fillable PDF in Required for all
Form. Grants.gov. Applicants.
CMF Application................. AMIS.............. Required for all
Applicants.
------------------------------------------------------------------------
Attachments to the Application
------------------------------------------------------------------------
Audited financial statements PDF in AMIS....... Required for all
(most recent 2 fiscal years). Applicants.
Any management letters related PDF in AMIS....... Required for all
to the audited financial Applicants.
statements (most recent 2
fiscal years).
[[Page 29988]]
State Charter, Articles of PDF in AMIS....... Required only for
Incorporation, or other Applicants that
establishing documents are not Certified
designating that the Applicant CDFIs.
is a nonprofit or not-for-
profit entity under the laws of
the organization's State of
formation.
A certification demonstrating PDF in AMIS....... Required only for
tax exempt status from the IRS. Applicants that
For Applicants that are are not Certified
governmental instrumentalities CDFIs.
only, and as long as all other
eligibility requirements are
met, the CDFI Fund will accept
a legal opinion from counsel,
in form and substance
acceptable to the CDFI Fund,
opining that the Applicant is
exempt from federal taxation.
Articles of incorporation, by- PDF in AMIS....... Required only for
laws or other documents Applicants that
demonstrating that the are not Certified
Applicant has a principal CDFIs.
purpose of managing or
developing affordable housing.
------------------------------------------------------------------------
The CDFI Fund has a sequential, two-step process that requires the
submission of Application documents in separate systems and on separate
deadlines. The SF-424 form must be submitted through Grants.gov and all
other application documents through the AMIS portal. The CDFI Fund will
not accept Applications via email, mail, facsimile, or other forms of
communication, except in extremely rare circumstances that have been
pre-approved by the CDFI Fund. The separate application deadlines for
the SF-424 and all other Application materials are listed in Tables 1
and 5. Only the Authorized Representative or Application Point of
Contact designated in AMIS may submit the Application through AMIS.
Applicants are strongly encouraged to submit the SF-424 as early as
possible through Grants.gov to provide sufficient time to resolve any
submission problems. Applicants should contact Grants.gov directly with
questions related to the registration or submission process as the CDFI
Fund does not administer the Grants.gov system.
The CDFI Fund strongly encourages Applicants to start the
Grants.gov registration process as soon as possible as it may take
several weeks to complete (refer to the following link: https://www.grants.gov/web/grants/register.html). An Applicant that has
previously registered with Grants.gov must verify that its registration
is current and active.
C. Dun and Bradstreet Data Universal Numbering System (DUNS):
Pursuant to the Uniform Administrative Requirements, each Applicant
must provide as part of its Application submission, a valid Dun &
Bradstreet Data Universal Numbering System (DUNS) number. Any Applicant
without a DUNS number will not be able to register and submit an
Application in the Grants.gov system. Please allow sufficient time for
Dun & Bradstreet to respond to inquiries and/or requests for DUNS
numbers.
D. System for Award Management (SAM): Any entity applying for
Federal grants or other forms of Federal financial assistance through
Grants.gov must be registered in SAM before submitting its Application
materials through that platform. 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.
E. Submission Dates and Times:
1. Submission Deadlines: Table 5 lists the deadlines for submission
of the documents related to the FY 2017 CMF Program Funding Round:
Table 5--FY 2017 CMF Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Time--eastern time
Document Deadline (ET) Submission method
----------------------------------------------------------------------------------------------------------------
SF-424 Mandatory form................ July 28, 2017.......... 11:59 pm ET............ Electronically via
Grants.gov.
CMF Application and Required August 31, 2017........ 5:00 pm ET............. Electronically via
Attachments. AMIS.
----------------------------------------------------------------------------------------------------------------
2. Confirmation of Application Submission in Grants.gov and AMIS:
Applicants are required to submit the OMB SF-424 Mandatory (Application
for Federal Assistance) form through the Grants.gov system and must
submit all other required Application materials through the AMIS Web
site. Application materials submitted through each system are due by
the applicable deadline listed in Table 5. Applicants must submit the
SF-424 by an earlier deadline than that of the other required
application materials in AMIS. If the SF-424 is not successfully
submitted through Grants.gov by the corresponding deadline, the CDFI
Fund will not review any of the materials submitted in AMIS, and the
Application will be deemed ineligible. Thus, Applicants are strongly
encouraged to submit the SF-424 as early as possible in the Grants.gov
portal since submission problems may impact the ability to submit the
overall Application.
(a) Grants.gov Submission Information: Each Applicant will receive
an email from Grants.gov immediately after submitting the SF-424
confirming that the submission has entered the Grants.gov system. This
email will contain a tracking number for
[[Page 29989]]
the submitted SF-424. Within 48 hours, the Applicant will receive a
second email which will indicate if the submitted SF-424 was either
successfully validated or rejected with errors. However, Applicants
should not rely on the email notification from Grants.gov to confirm
that their SF-424 was validated. Applicants are strongly encouraged to
use the tracking number provided in the first email to closely monitor
the status of their SF-424 by contacting the helpdesk at Grants.gov
directly. The Application materials submitted in AMIS are not
officially accepted by the CDFI Fund until Grants.gov has validated the
SF-424. If using the Grants.gov Workspace function, please note that
the Application package has not been submitted if you have not received
a tracking number.
(b) Award Management Information System (AMIS) Submission
Information: AMIS is a web-based portal where Applicants will directly
enter their Application information and add required attachments listed
in Table 4. AMIS will verify that the Applicant provided the minimum
information required to submit an Application. Applicants are
responsible for the quality and accuracy of the information and
attachments included in the Application submitted in AMIS. The CDFI
Fund strongly encourages the Applicant to allow sufficient time to
confirm the Application content, review the material submitted, and
remedy any issues prior to the Application deadline. Applicants can
only submit one Application in AMIS. Upon submission, the Application
will be locked and cannot be resubmitted, edited, or modified in any
way. The CDFI Fund will not unlock or allow multiple Application
submissions.
3. Multiple Application Submissions: If an Applicant submits
multiple SF-424 Applications in Grants.gov, the CDFI Fund will only
review the last SF-424 Application submitted in Grants.gov. Applicants
may only submit one Application through AMIS.
4. Late Submission: The CDFI Fund will not accept an Application
submitted after the applicable Grants.gov or AMIS Application deadline,
except where the submission delay was a direct result of a Federal
government administrative or technological error. This exception
includes any errors associated with Grants.gov, SAM.gov, AMIS or any
other applicable government system. Please note that this exception
does not apply to errors arising from obtaining a DUNS number from Dun
& Bradstreet, which is not a government entity. An Applicant unable to
make timely submission of its Application due to any errors in the
process of obtaining a DUNS number will not be allowed to submit its
Application after the application deadline has passed. In the event of
a government administrative or technological error causing delay, 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 requests for acceptance of late Application
submissions after that time period. Applicants must submit late
Application submission requests via Service Request in AMIS with the
subject line of ``FY2017 CMF: Late Application Submission Request.''
5. Intergovernmental Review: Not Applicable.
6. Funding Restrictions: CMF Awards are limited by the following:
(a) A Recipient shall use CMF Award funds only for the eligible
activities set forth in 12 CFR 1807.301 and as described in Section
II.C and Section II.E of this NOFA and its Assistance Agreement.
(b) A Recipient may not disburse CMF Award funds to an Affiliate,
Subsidiary, or any other entity without the CDFI Fund's prior written
approval.
(c) CMF Award Payment shall only be made to the Recipient.
(d) The CDFI Fund, in its sole discretion, may pay CMF Awards in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
7. Other Submission Requirements: Each Applicant must register as
an organization in AMIS in order to submit the required Application
materials through this portal. The Authorized Representative and/or
application point(s) of contact must be included as ``Contacts'' in the
Applicant's AMIS account. The Authorized Representative must also be a
``user'' in AMIS and must electronically sign the Application prior to
submission through AMIS. An Applicant that fails to properly register
and update its AMIS account may miss important communications from the
CDFI Fund or fail to submit an Application successfully. After
submitting its Application, the Applicant will not be permitted to
revise or modify its Application in any way or attempt to negotiate the
terms of an award.
V. Application Review Information
A. Criteria: All complete and eligible Applications will be
reviewed in accordance with the criteria and procedures described in
the CMF Interim Rule, this NOFA, the Application guidance, and the
Uniform Administrative Requirements. As part of the review process, the
CDFI Fund reserves the right to contact the Applicant by telephone,
email, mail, or through an on-site visit for the sole purpose of
clarifying or confirming Application information at any point during
the review process. The CDFI Fund reserves the right to collect such
additional information from Applicants as it deems appropriate. If
contacted, the Applicant must respond within the time period
communicated by the CDFI Fund or its Application may be rejected. For
the sake of clarity, specific application evaluation criteria are
described in the context of the overall application review and
selection process described in Section V.B. below.
B. Review and Selection Process:
The CDFI Fund will evaluate each complete and eligible Application
using the multi-phase review process described in this Section.
1. Quantitative Assessment: Each complete and eligible Application
will receive a numeric score based on the responses to quantitative
questions in the Application. Applications may receive a score of up to
100 points based on the following factors outlined in Table 6.
Table 6--Quantitative Assessment Factors
------------------------------------------------------------------------
Section Points Assessment criteria
------------------------------------------------------------------------
Business and Leveraging 40 Private leverage
Strategy. multiplier, including the
portion from 3rd parties.
........... Reasonableness of
projected activities based
on track record.
........... Applicant-level
leverage multiplier.
Community Impact.............. 35 Percent of rental
housing units targeted to
Very Low-Income or below
(50% of AMI or below).
[[Page 29990]]
........... Percent of
homeownership units
targeted to Low-Income or
below (80% of AMI or
below).
........... Commitment to only
finance Economic
Development Activities in
Low-Income Areas.
........... Percent of housing
units to be produced in
Areas of Economic
Distress.
Financial Health.............. 25 Capitalization.
........... Operating
Performance.
........... Net income.
........... Liquidity.
........... Audit Results.
------------------------------------------------------------------------
Within the Business and Leveraging Strategy Section of the
Quantitative Assessment, an Applicant will generally score more
favorably to the extent it: Is leveraging a high multiplier of private
capital, particularly third party capital; has a proven track record;
and is leveraging some portion of capital at the Applicant-level.
Within the Community Impact Section, an Applicant will generally
score more favorably to the extent that it: Commits to producing a
higher percentage of rental housing units targeted to Very Low-Income
Families (if proposing to use CMF for rental housing); commits to
producing a higher percentage of homeownership units targeted to Low-
Income Families (if proposing to use CMF for homeownership); commits to
only financing Economic Development Activities in Low-Income Areas (if
proposing to use CMF for economic development); and commits to
producing a higher percentage of units in Areas of Economic Distress.
Areas of Economic Distress are census tracts: (a) Where at least 20
percent of households that are Very Low-Income (50% of AMI or below)
spend more than half of their income on housing; or (b) where the
unemployment rate is at least 1.5 times the national average; or (c)
that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d)
where greater than 20 percent of households have incomes below the
poverty rate and the rental vacancy rate is at least 10 percent; or (e)
where greater than 20 percent of the households have incomes below the
poverty rate and the homeownership vacancy rate is at least 10 percent;
or (f) Are Underserved Rural Areas as defined in the CMF Interim Rule
(as amended February 8, 2016; 12 CFR part 1807). Within the Financial
Health section, Applicants will generally score more favorably to the
extent that their 3-year financial data indicates: Strong
capitalization, operating performance, and liquidity; positive net
income; and that the Applicant has not had any negative results (e.g.
opinion other than unqualified; a ``going concern paragraph;'' repeat
finding of reportable conditions; material weaknesses in internal
control) in any of the three most recently completed annual audits.
Once the quantitative score is determined, Applicants will be
grouped into two categories: (1) Those with a maximum Non-Metropolitan
Area investment of 50 percent or greater and (2) all other Applicants.
Applicants in each category will be ranked in descending order based on
their quantitative review score. The top 75 percent of Applications in
each category will be forwarded to the next level of review: External
Application Review. The CDFI Fund reserves the right to forward
additional Applications to the External Application Review phase in
order to ensure that a diversity of geographies are served by the
Applicants reviewed in the External Application Review phase. The CDFI
Fund also reserves the right not to implement the Quantitative
Assessment if it receives fewer than 140 CMF Applications.
2. External Application Review: Applications that advance from the
Quantitative Assessment will be separately scored by more than one
external non-Federal reviewer who are selected based on criteria that
include: A professional background in affordable housing and community
and economic development finance with extensive background in
affordable housing. These reviewers must complete the CDFI Fund's
conflict of interest process and be approved by the CDFI Fund.
Reviewers will be assigned a set number of Applications to review. The
reviewer will provide a score for each of the Applications assessed in
accordance with the scoring criteria outlined in Section V.B.2 of this
NOFA and the Application materials.
The external reviewer's evaluation will result in the Application
being awarded up to 100 total points by each reviewer. These points
will be distributed across three sections: Business and Leveraging
Strategy (40 possible points), Community Impact (35 possible points),
and Organizational Capacity (25 possible points). An Applicant's final
External Application review score will be a composite based on the
external reviewers' evaluation and Quantitative Assessment factors. The
majority of the score will be based on the external reviewers'
evaluation.
(a) Business and Leveraging Strategy (40 points): In the Business
and Leveraging Strategy section, the Applicant will address: (i) The
needs of communities and persons in its proposed Service Area(s) and
the extent to which the proposed strategy addresses these needs; (ii)
the affordable housing and financing gaps addressed by its business
strategy; (iii) the projected CMF activities and track record; (iv)
plans to incorporate a CMF Award into project finance; (v) its strategy
for leveraging private capital with a CMF Award, particularly third-
party capital; and (vi) its strategy for leveraging its CMF Award at
the Enterprise-level and/or through re-investments (if applicable).
An Applicant will generally score more favorably in the criteria
evaluated by the external reviewer to the extent that it: (i) Clearly
aligns its proposed CMF Award activities with the affordable housing
and financing gaps it identifies; (ii) demonstrates that its projected
activities are achievable based on the Applicant's strategy and track
record; (iii) describes a clear process for locating projects and
proposes activities that have a clear need for CMF financing; (iv) has
a clear strategy for and track record of leveraging private capital;
and (v) has a clear strategy for and demonstrates a track record of
leveraging funds at the enterprise-level and/or through re-investments
(if applicable).
(b) Community Impact (35 points): In the Community Impact Section,
the Applicant will address: (i) Projected outcomes and impacts of
Affordable Housing Activities and Economic Development Activities; (ii)
its strategy and track record of producing housing
[[Page 29991]]
units targeted to Low-Income Families (for homeownership) and to Very
Low-Income Families (for rental); (iii) if applicable, its strategy and
track record of financing and/or supporting Economic Development
Activities and how these activities will benefit the residents of
nearby Affordable Housing; and (iv) its strategy for engaging low-
income stakeholders to inform its business strategy. An Applicant will
generally score more favorably in the criteria evaluated by the
external reviewer to the extent that it: (i) Demonstrates how the
expected outcomes will address community needs; (ii) demonstrates a
clear and compelling strategy for producing housing units targeted to
Low-Income Families (for homeownership) and Very-Low Income Families
(for rental); (iii) for Economic Development Activities, it
demonstrates how its proposed Economic Development Activities fit
within a Concerted Strategy and will benefit the residents of the
surrounding Affordable Housing; and (iv) demonstrates that feedback
from Low-Income stakeholders will inform the Applicant's business
strategy.
(c) Organizational Capacity (25 points): In the Organizational
Capacity section, the Applicant will discuss: (i) Its management team
and key staff; (ii) the roles and responsibilities of those staff in
managing a CMF Award; (iii) its past experience managing other Federal
Awards; and (iv) its financial health and lending portfolio (if
applicable).
An Applicant will generally score more favorably in the criteria
evaluated by the external reviewer to the extent that it demonstrates:
(i) Strong qualifications of its key personnel with respect to their
skills and experience identifying investments, underwriting similar
projects, managing a portfolio of similar activities and ensuring
compliance with program requirements; (ii) success in administering
prior CMF Awards and/or other Federal program awards; (iii) strong
financial health; and (iv) solid portfolio performance (if applicable).
(d) Scoring anomaly: If, in the case of a particular Application,
the reviewers' total external Application review scores vary
significantly, the CDFI Fund may, in its sole discretion, obtain the
evaluation and numeric scoring of an additional reviewer to determine
whether the anomalous score should be replaced with the score of the
additional reviewer.
3. Internal Application Review: At the conclusion of the External
Application Review phase, Applications will be ranked based on their
external review score. Up to 50 of the highest scoring Applications in
the External Application Review phase will be forwarded to Internal
Application Review in descending order of rank score to receive further
consideration for an Award. These forwarded applications will
constitute the highly qualified pool. During the Internal Application
Review, CDFI Fund staff will prioritize the Applications in the highly
qualified pool for award based on the following criteria: (i) Final
external Application review score, (ii) alignment with CMF statutory
and policy priorities, and (iii) the overall quality of the Applicant's
strategy.
In assessing the Application's alignment with CMF statutory and
policy priorities, CDFI Fund staff will consider the following factors,
including, but not limited to: The Applicant's proposed outcomes and
benefits in areas of economic distress; income targeting of the
portfolio of affordable units to be produced; and the amount of third-
party private capital that the Applicant will attract to its Service
Area.
In assessing the quality of the Applicant's strategy, the CDFI Fund
staff will consider the following factors, including, but not limited
to: (i) The quality of the Applicant's strategy with respect to how the
strategy and financing activities address community needs; (ii) whether
these outcomes are likely to be achieved if the Applicant's strategy is
implemented and the extent to which these outcomes are quantifiable and
evidence-based; (iii) whether the Applicant's projections are supported
by its track record; (iv) whether the proposed financing activities
will help to fill the financing gaps in their market; (v) whether the
CMF funds will contribute to the Applicant offering more favorable
rates and terms than are currently available in that market; (vi) the
likely success of the strategy to leverage private capital; (vii)
whether the strategy is adaptable to changing market conditions; (viii)
whether the proposed deployment/redeployment schedule is realistic and
achievable; and (ix) whether the Applicant has the appropriate
financial, organizational, and programmatic capacity to implement the
strategy.
The Internal Review will also include an analysis of the
Applicant's likely capacity to: Meet award management standards; file
appropriate reports and address findings from audits; and the
Applicant's ability to effectively implement Federal requirements.
Applicants may be re-prioritized for an award or award amounts may be
reduced as a result of this analysis. In the case of an Applicant that
has received awards from other Federal programs, the CDFI Fund reserves
the right to contact officials from the appropriate Federal agency or
agencies to determine whether the Recipient is in compliance with
current or prior assistance agreements, and to take such information
into consideration before making a CMF Award. In the case of an
Applicant that has previously received funding through any CDFI Fund
program, the CDFI Fund will consider and may, in its discretion, deduct
up to 5 points from the External Application Review score for those
Applicants (or their Affiliates) that, within 24 months prior to the
Application deadline, are late in meeting reporting requirements for
existing awards.
4. Selection: Once Applications have been internally evaluated and
preliminary award determinations have been made, the Applications will
be forwarded to a selecting official for a final award determination.
After preliminary award determinations are made, the selecting official
will review the list of potential Recipients to determine whether the
Recipient pool meets the following statutory objectives:
(a) The potential Recipients' proposed Service Areas collectively
represent broad geographic coverage throughout the United States; and
(b) The potential Recipients' proposed activities equitably
represent both Metropolitan Areas and Non-Metropolitan Areas, as
defined in the CMF Interim Rule, and as further set forth in the
Application.
To the extent practicable, the CDFI Fund reserves the right to
modify CMF Award amounts and/or the CMF Recipient pool if deemed
necessary to achieve either of these desired outcomes. In order to
evaluate the geographic coverage of the potential CMF Recipient pool,
Applicants will be asked to designate one of the following three
Service Area types in their Applications: Local, Statewide, or Multi-
State. These Service Area types are further defined in the Application;
the largest Service Area an Applicant can propose is a 10 state Multi-
State Service Area. To achieve greater investment in Non-Metropolitan
Areas and/or broader geographic coverage, the CDFI Fund may consider an
Application ranked outside of the highly qualified pool to receive an
award. However, the CDFI Fund will not award an Application that scores
in the bottom 50 percent of the External Review score rankings.
In cases where the selecting official's award determination varies
significantly from the initial CMF Award amount recommended by the CDFI
Fund staff
[[Page 29992]]
review, the CMF Award recommendation will be forwarded to a reviewing
official for final determination. The CDFI Fund, in its sole
discretion, reserves the right to reject an Application and/or adjust
CMF Award amounts as appropriate based on information obtained during
the review process.
(c) Insured Depository Institution Applicants: In the case of
Applicants that are Insured Depository Institutions or Insured Credit
Unions, the CDFI Fund will consider safety and soundness information
from the Appropriate Federal Banking Agency or Appropriate State
Agency, as applicable. If the Applicant is a CDFI Depository
Institution Holding Company, the CDFI Fund will consider information
provided by the Appropriate Federal Banking Agency and Appropriate
State Agency about both the CDFI Depository Institution Holding Company
and the CDFI Insured Depository Institution that will expend and carry
out the award. If the Appropriate Federal Banking Agency or Appropriate
State Agency identifies safety and soundness concerns, the CDFI Fund
will assess whether the concerns cause or will cause the Applicant to
be incapable of undertaking the activities for which funding has been
requested.
5. Right of Rejection: The CDFI Fund reserves the right to reject
an Application if information (including administrative errors) comes
to the attention of the CDFI Fund that 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 that any portion of
the Application is incorrect in any material respect, the CDFI Fund
reserves the right, in its sole discretion, to reject the Application.
The CDFI Fund reserves the right to change its eligibility and
evaluation criteria and procedures, if the CDFI Fund deems it
appropriate. If said changes materially affect the CDFI Fund's award
decisions, the CDFI Fund will provide information regarding the changes
through the CDFI Fund's Web site. There is no right to appeal the CDFI
Fund's award decisions. The CDFI Fund's award decisions are final.
6. Anticipated Award Announcement: The CDFI Fund anticipates making
CMF Award announcements in late 2017 or early 2018.
VI. Federal Award Administration Information
A. Award Notification: Each successful Applicant will receive an
email notification from the CDFI Fund stating that its Application has
been approved for an award. Each Applicant not selected for an award
will receive an email stating that a debriefing document has been
provided in its AMIS account.
B. Administrative and National Policy Requirements: The CDFI Fund
may, in its discretion and without advance notice to the Recipient,
terminate the award or take other actions as it deems appropriate if,
prior to entering into an Assistance Agreement, information (including
an administrative error) comes to the CDFI Fund's attention that
adversely affects the following: The Recipient's eligibility for an
award; the CDFI Fund's evaluation of the Application; the Recipient's
compliance with any requirement listed in the Uniform Requirements; or
indicates fraud or mismanagement on the Recipient's part.
If the Recipient's certification status as a CDFI changes, the CDFI
Fund reserves the right, in its sole discretion, to re-calculate the
CMF Award, or modify the Assistance Agreement based on the Recipient's
non-CDFI status.
By executing an Assistance Agreement, the Recipient agrees that, if
the CDFI Fund becomes aware of any information (including an
administrative error) prior to the Effective Date of the Assistance
Agreement that either adversely affects the Recipient's eligibility for
an CMF 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 Recipient, the CDFI Fund may, in its discretion and
without advance notice to the Recipient, terminate the Assistance
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 Recipient fails to return the Assistance
Agreement, signed by an 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 Assistance Agreement and the
award made under this NOFA for any criteria described in Table 7:
Table 7--Requirements Prior to Executing an Assistance Agreement
------------------------------------------------------------------------
Requirement Criteria
------------------------------------------------------------------------
Failure to meet reporting If a Recipient is a prior CDFI Fund award
requirements. 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 guarantee, as of the date
of the Notice of Award, the CDFI Fund
reserves the right, in its sole
discretion, to delay entering into an
Assistance Agreement and/or to delay
making a Payment of CMF Award, 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 guarantee.
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, nor that it 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 CMF Award made under this
NOFA.
Failure to maintain CDFI A Recipient must be a Certified CDFI or
Certification (if an eligible Nonprofit Organization, as
applicable) or eligible each is defined in the CMF Interim Rule
Nonprofit Organization and this NOFA, prior to entering into an
status (if applicable). Assistance Agreement as well as during
the application process.
If, at any time prior to entering into an
Assistance Agreement under this NOFA, an
Applicant that is a Certified CDFI has
submitted reports (or failed to submit
an annual certification report as
instructed by the CDFI Fund) to the CDFI
Fund that demonstrate noncompliance with
the requirements for certification, but
the CDFI Fund has yet to make a final
determination regarding whether or not
the entity is Certified, the CDFI Fund
reserves the right, in its sole
discretion, to delay entering into an
Assistance Agreement and/or to delay
making a Payment of CMF Award, pending
full resolution, in the sole
determination of the CDFI Fund, of the
noncompliance.
If the Applicant 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 CMF Award made under this
NOFA.
[[Page 29993]]
Pending resolution of If, at any time prior to entering into an
noncompliance. Assistance 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 guarantee, the CDFI Fund
reserves the right, in its sole
discretion, to delay entering into an
Assistance Agreement and/or to delay
making a Payment of CMF Award, 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 CMF
Award made under this NOFA.
Default or Noncompliance If, at any time prior to entering into an
status. Assistance Agreement, the CDFI Fund
determines that a Recipient is in
default of a previously executed
agreement with the CDFI Fund and the
Recipient has been provided written
notification of such determination, the
CDFI Fund can delay entering into an
Assistance Agreement, until the
Recipient has cured the default, if
applicable, by taking actions the CDFI
Fund has specified within the specified
timeframe. Further, if, at any time
prior to entering into an Assistance
Agreement, the CDFI Fund determines that
a Recipient is noncompliant with an FY
2015 agreement, or with agreements for
fiscal years thereafter, under any CDFI
Fund program, the CDFI Fund can delay
entering into an Assistance Agreement,
until the Recipient has cured the
noncompliance by taking actions the CDFI
Fund has specified within the specified
timeframe. If the Recipient is unable to
meet the cure requirement, if
applicable, within the specified
timeframe, the CDFI Fund may terminate
and rescind the Assistance Agreement and
the CMF Award made under this NOFA.
Final Default and Sanctions.. If the CDFI Fund has found the Recipient
in final default of a prior executed
agreement and provided notification of
sanctions, the CDFI Fund may delay
entering into an Assistance Agreement
with the Recipient, impose conditions
prior to entering in Assistance
Agreement, or modify or rescind the CMF
Award made under this NOFA within the
time period specified in such
notification.
Compliance with Federal civil The CDFI Fund will terminate and rescind
rights requirements. the Assistance Agreement and the CMF
Award made under this NOFA if, prior to
entering into an Assistance Agreement
under this NOFA, the Recipient receives
a final determination, made within the
last 3 years, in any proceeding
instituted against the Recipient in, by,
or before any court, governmental, or
administrative body or agency, declaring
that the CMF 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); Title VIII of the
Civil Rights Act of 1968, as amended (42
U.S.C. 3601 et seq.); and Executive
Order 13166, Improving Access to
Services for Persons with Limited
English Proficiency.
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 on the Do
Not Pay database.
Safety and soundness......... If it is determined that the Recipient is
or will be incapable of meeting its CMF
Award obligations, the CDFI Fund will
deem the Recipient to be ineligible or
require it to improve safety and
soundness conditions prior to entering
into an Assistance Agreement.
------------------------------------------------------------------------
C. Assistance Agreement: Each Applicant that is selected to receive
an award under this NOFA must enter into an Assistance Agreement with
the CDFI Fund in order to become a Recipient and receive Payment. Each
CMF Award under this NOFA generally will have a period of performance
that begins with the announcement date of the award and continues until
the end of the period of affordability, as set forth at 12 CFR
1807.401(d) and 12 CFR 1807.402, and as further set forth in the
Assistance Agreement.
1. The Assistance Agreement will set forth certain required terms
and conditions of the CMF Award, which will include, but not be limited
to:
(a) The amount of the award;
(b) The approved uses of the award;
(c) The approved Service Area in which the award may be used;
(d) Performance goals and measures; and
(e) Reporting requirements for all Recipients.
2. The Assistance Agreement shall provide that, prior to any
determination by the CDFI Fund that a Recipient has failed to comply
substantially with the Act, the CMF Interim Rule, or the environmental
quality regulations, the CDFI Fund shall provide the Recipient with
reasonable notice and opportunity for hearing. For failure by the
Recipient to comply substantially with the Assistance Agreement, the
CDFI Fund may:
(a) Require changes in the performance goals set forth in the
Assistance Agreement;
(b) Reduce or terminate the CMF Award; or
(c) Require repayment of any CMF Award that has been distributed to
the Recipient.
3. The Assistance Agreement shall also provide that, if the CDFI
Fund determines noncompliance with the terms and conditions of the
Assistance Agreement on the part of the Recipient, the CDFI Fund may:
(a) Bar the Recipient from reapplying for any assistance from the
CDFI Fund; or
(b) Take such other actions as the CDFI Fund deems appropriate or
as set forth in the Assistance Agreement.
4. In addition to entering into an Assistance Agreement, each
Applicant selected to receive a CMF Award must furnish to the CDFI Fund
a certificate of good standing from the jurisdiction in which it was
formed. The CDFI Fund may, in its sole discretion, also require the
Applicant to furnish an opinion from its legal counsel, the content of
which may be further specified in the Assistance Agreement, and which,
among other matters, opines that:
(a) The Recipient is duly formed and in good standing in the
jurisdiction in which it was formed and the jurisdiction(s) in which it
transacts business;
(b) The Recipient has the authority to enter into the Assistance
Agreement and
[[Page 29994]]
undertake the activities that are specified therein;
(c) The Recipient has no pending or threatened litigation that
would materially affect its ability to enter into and carry out the
activities specified in the Assistance Agreement;
(d) The Recipient is not in default of its articles of
incorporation or formation, bylaws or operating agreements, other
organizational or establishing documents, or any agreements with the
Federal government; and
(e) The CMF affordability restrictions that are to be imposed by
deed restrictions, covenants running with the land, or other CDFI Fund
approved mechanisms are recordable and enforceable under the laws of
the State and locality where the Recipient will undertake its CMF
activities.
D. Paperwork Reduction Act: Under the Paperwork Reduction Act (44
U.S.C. chapter 35), an agency may not conduct or sponsor a collection
of information, and an individual is not required to respond to a
collection of information, unless it displays a valid OMB control
number. If applicable, the CDFI Fund may inform Applicants that they do
not need to provide certain Application information otherwise required.
Pursuant to the Paperwork Reduction Act, the CMF Program Application
has been assigned the following control number: 1559-0036.
E. Reporting: The CDFI Fund will require each Recipient that
receives a CMF Award through this NOFA to account for and report to the
CDFI Fund on the use of the CMF Award. This will require Recipients to
establish administrative controls, subject to the Uniform
Administrative Requirements and other applicable OMB guidance. The CDFI
Fund will collect information from each such Recipient on its use of
the CMF Award at least once following Payment and more often if deemed
appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will
provide guidance to 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 components
listed in Table 8:
Table 8--Reporting Requirements
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Single Audit Narrative Report (or The Recipient must submit, via AMIS,
like report). a Single Audit Narrative Report for
each year of its period of
performance notifying the CDFI Fund
whether it is required to have a
single audit pursuant to OMB Single
Audit requirements.
Single Audit (if applicable) (or A Recipient that is a non-profit
similar report). 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 part
200, 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.
Performance Report................ The Recipient must submit a
performance report not less than
annually, which is a progress
report on the Recipient's use of
the CMF Award towards meeting its
Performance Goals, affordable
housing outcomes, and the
Recipient's overall performance.
The CMF performance report covers
the Announcement Date through the
Investment Period for the CMF Award
and the ten-year Affordability
Period for each project. The
Investment Period shall mean the
period beginning with the effective
date of the Assistance Agreement
and ending not earlier than the
fifth year anniversary of the
effective date or as otherwise
established in the Assistance
Agreement. The Affordability Period
shall mean, for each CMF-funded
project, the period beginning on
the date when the project is placed
into service and consisting of the
full ten consecutive years
thereafter or as otherwise
established in the Assistance
Agreement.
Explanation of Noncompliance (as If the award Recipient fails to meet
applicable) or successor report. a performance goal or reporting
requirements, it must submit the
Explanation of Noncompliance via
AMIS.
------------------------------------------------------------------------
Each Recipient is responsible for the timely and complete
submission of the annual reporting documents. The CDFI Fund will use
such information to monitor each Recipient's compliance with the
requirements set forth in the Assistance Agreement and to assess the
impact of the CMF. The CDFI Fund reserves the right, in its sole
discretion, to modify these reporting requirements if it determines it
to be appropriate and necessary; however, such reporting requirements
will be modified only after notice to Recipients.
F. Financial Management and Accounting: The CDFI Fund will require
Recipients to maintain financial management and accounting systems that
comply with Federal statutes, regulations, and the terms and conditions
of the CMF 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 in
accordance with the Federal statutes, regulations, and the terms and
conditions of the CMF Award.
The cost principles used by Recipients must be consistent with
Federal cost principles; must support the accumulation of costs as
required by the principles; and must provide for adequate documentation
to support costs charged to the CMF Award. In addition, the CDFI Fund
will require Recipients to: Maintain effective internal controls;
comply with applicable statutes and regulations, the Assistance
Agreement, and related guidance; evaluate and monitor compliance; take
action when not in compliance; and safeguard personally identifiable
information.
VII. Agency Contacts
A. Availability: The CDFI Fund will respond to questions and
provide support concerning this NOFA and the Application between the
hours of 9:00 a.m. and 5:00 p.m. ET, starting on the date of the
publication of this NOFA until the close of business on the third day
preceding the Application deadline. The CDFI Fund will not respond to
questions or provide support concerning the Application that are
received after 5:00 p.m. ET on said date, until after the Application
deadline. CDFI Fund IT support will be available until 5:00 p.m.
[[Page 29995]]
ET on date of the Application deadline. Applications and other
information regarding the CDFI Fund and its programs may be obtained
from the CDFI Fund's Web site at https://www.cdfifund.gov/cmf. The CDFI
Fund will post on its Web site responses to questions of general
applicability regarding the CMF.
B. The CDFI Fund's contact information is listed in Table 9:
Table 9--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone
Type of question number (not Email addresses/AMIS Service Request
toll free)
----------------------------------------------------------------------------------------------------------------
CMF........................................... 202-653-0421 Submit an AMIS Service Request in AMIS or
cmf@cdfi.treas.gov.
CDFI Certification............................ 202-653-0421 Submit an AMIS Service Request in AMIS.
Compliance Monitoring and Evaluation.......... 202-653-0421 Submit an AMIS Service Request in AMIS.
Information Technology Support................ 202-653-0422 Submit an AMIS Service Request or email
AMIS@cdfi.treas.gov.
----------------------------------------------------------------------------------------------------------------
The preferred method of contact is to submit a Service Request (SR)
within AMIS. For a CMF Application question, select ``General Inquiry''
for the record type and select ``CMF-Application'' for the type. For a
CDFI Certification or Compliance question, select ``General Inquiry''
for the record type and select the appropriate type. For Information
Technology, select ``General Inquiry'' for the record type and select
``CMF-AMIS technical problem'' for the type. Failure to select the
appropriate type of SR could result in delays in responding to your
question.
C. Communication with the CDFI Fund: The CDFI Fund will use AMIS to
communicate with Applicants and Recipients, using the contact
information maintained in their respective AMIS accounts. Therefore,
the Recipient and any Subsidiaries, signatories, and Affiliates must
maintain accurate contact information (including contact persons and
Authorized Representatives, email addresses, fax numbers, phone
numbers, and office addresses) in its AMIS account(s). For more
information about AMIS please see the Help documents posted at https://amis.cdfifund.gov/s/Training.
Authority: Pub. L. 110-289. 12 U.S.C. 4701, 12 CFR part 1805, 12
CFR part 1807, 12 CFR part 1815, 12 U.S.C. 4502.
Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2017-13722 Filed 6-29-17; 8:45 am]
BILLING CODE 4810-70-P