Funding Opportunity Title: Notice of Funds Availability (NOFA) Inviting Applications for the Fiscal Year (FY) 2017 Funding Round of the Bank Enterprise Award Program (BEA Program), 45663-45674 [2017-20922]

Download as PDF Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices Authority: (49 U.S.C. 30118, 30120: delegations of authority at 49 CFR 1.95 and 501.8). Jeffrey M. Giuseppe, Director, Office of Vehicle Safety Compliance. [FR Doc. 2017–20908 Filed 9–28–17; 8:45 am] BILLING CODE 4910–59–P 45663 Funding Opportunity Number: CDFI– 2017–BEA. Catalog of Federal Domestic Assistance (CFDA) Number: 21.021. Key Dates: DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Funding Opportunity Title: Notice of Funds Availability (NOFA) Inviting Applications for the Fiscal Year (FY) 2017 Funding Round of the Bank Enterprise Award Program (BEA Program) Announcement Type: Announcement of funding opportunity. TABLE 1—FY 2017 BEA PROGRAM FUNDING ROUND—KEY DATES FOR APPLICANTS Description Time (Eastern Time—ET) Deadline Contact Information Grant Application Package/SF–424 Mandatory (Application for Federal Assistance). Submission Method: Electronically via Grants.gov .............................. Last day to contact BEA Program Staff re: BEA Program Application materials. November 16, 2017. 11:59 p.m. ET .... Contact Grants.gov at 800–518– 4726 or support@grants.gov. November 28, 2017. 5:00 p.m. ET ...... Last day to contact Certification, Compliance Monitoring and Evaluation (CCME) staff. November 28, 2017. 5:00 p.m. ET ...... Last day to contact IT Help Desk re. AMIS support and submission of the FY 2017 BEA Program Application in AMIS. November 30, 2017. 5:00 p.m. ET ...... FY 2017 BEA Program Application ...................................................... Submission Method: Electronically via AMIS ....................................... November 30, 2017. 5:00 pm ET ........ CDFI Fund BEA Helpdesk: 202– 653–0421 or BEA Award Management Information System (AMIS) Service Request.1 CCME Helpdesk: 202–653–0423 or Compliance and Reporting AMIS Service Request.2 CDFI Fund IT Helpdesk: 202– 653–0422 or IT AMIS Service Request.3 CDFI Fund IT Helpdesk: 202– 653–0422 or IT AMIS Service Request.4 asabaliauskas on DSKBBXCHB2PROD with NOTICES 1 For questions regarding completion of the BEA Application materials, the preferred electronic method of contact with the BEA Program Office is to submit a Service Request (SR) within AMIS. For the SR, select ‘‘BEA Application’’ for the record type. 2 For Compliance and Reporting related questions, the preferred electronic method of contact is to submit a Service Request (SR) within AMIS. For the SR, select ‘‘General Inquiry’’ for the record type, and select ‘‘BEA-Compliance & Reporting’’ for the type. 3 For Information Technology support, the preferred method of contact is to submit a Service Request (SR) within AMIS. For the SR, select ‘‘General Inquiry’’ for the record type, and select ‘‘BEA–AMIS technical problem’’ for the type. 4 Ibid. Executive Summary: This NOFA is issued in connection with the fiscal year (FY) 2017 funding round of the Bank Enterprise Award Program (BEA Program). The BEA Program is administered by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund awards formula-based grants to depository institutions that are insured by the Federal Deposit Insurance Corporation (FDIC) for increasing their levels of loans, investments, Service Activities, and technical assistance within Distressed Communities, and financial assistance to certified Community Development Financial Institutions (CDFIs) through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, during a specified period. VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 I. Program Description A. History: The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement 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 more than $2.3 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program (CDFI Program), the Native American CDFI Assistance Program (NACA Program), and the BEA Program. In addition, the CDFI Fund has allocated $50.5 billion in tax credit allocation authority to Community Development Entities through the New Markets Tax Credit Program (NMTC Program), guaranteed bonds in the total amount of $1.1 billion through the CDFI Bond Guarantee Program, and awarded more than $171 million through the Capital Magnet Fund. The BEA Program PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 complements the community development activities of banks and thrifts (collectively referred to as banks for purposes of this NOFA) by providing financial incentives to expand investments in CDFIs and to increase lending, investment, and Service Activities within Distressed Communities. Providing monetary awards to banks for increasing their community development activities leverages the CDFI Fund’s dollars and puts more capital to work in Distressed Communities throughout the nation. B. Authorizing Statutes and Regulations: The BEA Program was authorized by the Bank Enterprise Award Act of 1991, as amended. The regulations governing the BEA Program can be found at 12 CFR part 1806 (the Interim Rule). The Interim Rule provides the evaluation criteria and other requirements of the BEA Program. Detailed BEA Program requirements are also found in the application materials associated with this NOFA (the E:\FR\FM\29SEN1.SGM 29SEN1 asabaliauskas on DSKBBXCHB2PROD with NOTICES 45664 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices Application). The CDFI Fund encourages interested parties and Applicants to review the authorizing statute, Interim Rule, this NOFA, the Application, and the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Requirements) for a complete understanding of the Program. Capitalized terms in this NOFA are defined in the authorizing statute, the Interim Rule, this NOFA, the Application, or the Uniform Requirements. Details regarding Application content requirements are found in the Application and related materials. Application materials can be found on Grants.gov and the CDFI Fund’s Web site at www.cdfifund.gov/bea. C. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR 200): The Uniform Administrative Requirements codify financial, administrative, procurement, and program management standards that Federal award-making agencies and Recipients must follow. When evaluating award applications, awarding agencies must evaluate the risks to the program posed by each applicant, and each applicant’s merits and eligibility. These requirements are designed to ensure that applicants for Federal assistance receive a fair and consistent review prior to an award decision. This review will assess items such as the Applicant’s financial stability, quality of management systems, history of performance, and audit findings. In addition, the Uniform Requirements include guidance on audit requirements and other award requirements with which Recipients must comply. D. Priorities: Through the BEA Program, the CDFI Fund specifies the following priorities: 1. Estimated Award Amounts: The award percentage used to derive the estimated award amount for Applicants that are CDFIs is three times greater than the award percentage used to derive the estimated award amount for Applicants that are not CDFIs; 2. Priority Factors: Priority Factors will be assigned based on an Applicant’s asset size, as described in Section V. of this NOFA (Application Review Information: Priority Factors); and 3. Priority of Awards: The CDFI Fund will rank Applicants in each category of Qualified Activity according to the priorities described in Section V.B. of this NOFA (Application Review Information: Award Percentages, Award Amounts, Application Review Process, VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 Selection Process, Programmatic Financial Risk, and Application Rejection), specifically parts V.B.2: Selection Process, V.B.3: Programmatic and Financial Risk, and V.B.4: Persistent Poverty Counties. E. Baseline Period and Assessment Period Dates: A BEA Program Award is based on an Applicant’s increase in Qualified Activities from the Baseline Period to the Assessment Period, as reported on an individual transaction basis in the Application. For the FY 2017 funding round, the Baseline Period is calendar year 2015 (January 1, 2015 through December 31, 2015), and the Assessment Period is calendar year 2016 (January 1, 2016 through December 31, 2016). F. Funding Limitations: The CDFI Fund reserves the right to fund, in whole or in part, any, all, or none of the Applications submitted in response to this NOFA. The CDFI Fund also reserves the right to reallocate funds from the amount that is anticipated to be available through this NOFA to other CDFI Fund programs, or to reallocate remaining funds to a future BEA Program funding round, particularly if the CDFI Fund determines that the number of awards made through this NOFA is fewer than projected. G. Persistent Poverty Counties: Pursuant to the Consolidated Appropriations Act, 2017 (Pub. L. Number 115–3), Congress mandated that at least ten percent of the CDFI Fund’s appropriations be directed to counties that meet the criteria for ‘‘Persistent Poverty’’ designation. Persisent Poverty Counties (PPCs) are defined as any county that has had 20 percent or more of its population living in poverty over the past 30 years, as measured by the 1990 and 2000 decennial censuses, and the most recent series of 5-year data available from the American Community Survey from the Census Bureau. The tabular BEA Program Eligibility Data which is located on the CDFI Fund’s Web site has been updated and now indicates whether a census tract also meets ‘‘Persistent Poverty County’’ criteria. Applicants that apply under this NOFA will be required to indicate the minimum and maximum percentage of the BEA Program Award that the Applicant will commit to investing in PPCs. II. Federal Award Information A. Funding Availability: The CDFI Fund expects to award up to $23 million for the FY 2017 BEA Program Awards round under this NOFA. The CDFI Fund reserves the right to award in excess of said funds under this NOFA, provided that the appropriated PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 funds are available. The CDFI Fund reserves the right to impose a minimum or maximum award amount; however, under no circumstances will an award be higher than $1 million for any Recipient. B. Types of Awards: BEA Program Awards are made in the form of grants. C. Anticipated Start Date and Period of Performance: The CDFI Fund anticipates the period of performance for the FY 2017 funding round will begin in the spring of calendar year 2018. Specifically, the period of performance begins on the Federal Award Date and will conclude at least one (1) full year after the Federal Award Date as further specified in the Award Agreement, during which the Recipient must meet the performance goals set forth in the Award Agreement. D. Eligible Activities: Eligible Activities for the BEA Program are referred to as Qualified Activities and are defined in the Interim Rule to include CDFI Related Activities, Distressed Community Financing Activities, and Service Activities (12 CFR 1806.103). CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and CDFI Support Activities. CDFI Equity conists of Equity Investments, Equity-Like Loans, and Grants. CDFI Support Activities includes Loans, Deposits and Technical Assistance. Distressed Community Financing Activities (12 CFR 1806.103) means Consumer Loans and Commercial Loans and Investments. Consumer Loans include Affordable Housing Loans; Education Loans; Home Improvement Loans; and Small Dollar Consumer Loans. Commercial Loans and Investments includes Affordable Housing Development Loans and related Project Investments; Commercial Real Estate Loans and related Project Investments; and Small Business Loans and related Project Investments. Service Activities (12 CFR 1806.103) include Deposit Liabilities, Financial Services, Community Services, Targeted Financial Services, and Targeted Retail Savings/Investment Products. When calculating BEA Program Award amounts, the CDFI Fund will only consider the amount of a Qualified Activity that has been fully disbursed or, in the case of a partially disbursed Qualified Activity, will only consider the amount that an Applicant reasonably expects to disburse for a Qualified Activity within 12 months from the end of the Assessment Period. Subject to the requirements outlined in Section VI. of this NOFA, in the case of Commercial Real Estate Loans and related Project Investments, the total E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices principal amount of the transaction must be $10 million or less to be considered a Qualified Activity. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, may consider transactions with a total principal value of over $10 million, subject to review. An activity funded with prior BEA Program Award dollars, or funded to satisfy requirements of an Award Agreement from a prior award, shall not constitute a Qualified Activity for the purposes of calculating or receiving an award. E. Distressed Community: A Distressed Community must meet certain minimum geographic area and eligibility requirements, which are defined in the Interim Rule at 12 CFR 1806.103 and more fully described in 12 CFR 1806.401. Applicants should use the CDFI Fund’s Information Mapping System (CIMS Mapping Tool) to determine whether a Baseline Period activity or Assessment Period activity is located in a qualified Distressed Community. The CIMS Mapping Tool can be accessed through AMIS or the CDFI Fund’s Web site at https:// www.cdfifund.gov/Pages/mappingsystem.aspx. The CIMS Mapping Tool contains a step-by-step training manual on how to use the tool. In addition, further instructions to determine whether an activity is located in a qualified BEA Distressed Community can be located at: https:// www.cdfifund.gov/programs-training/ Programs/bank_enterprise_award/ Pages/apply-step.aspx#step1 when selecting the BEA Program Application CIMS3 Instructions document in the ‘‘Application Materials’’ section of the Web page. If you have any questions or problems with accessing the CIMS Mapping Tool, please contact the CDFI Fund IT Help Desk by telephone at (202) 653–0300, by IT AMIS Service Request, or by email to AMIS@cdfi.treas.gov. Please note that a Distressed Community as defined by the BEA Program is not the same as an Investment Area as defined by the CDFI Program or a Low-Income Community as defined by the NMTC Program. 1. Designation of Distressed Community by a CDFI Partner: CDFI Partners that receive CDFI Support Activities from an Applicant must be integrally involved in a Distressed Community. CDFI Support Activities include loans, Technical Assistance, or deposits provided to a CDFI Partner. Applicants must provide evidence that each CDFI Partner that is the recipient of CDFI Support Activities is integrally involved in a Distressed Community, as noted in the Application. CDFI Partners that receive Equity Investments, EquityLike Loans or grants are not required to demonstrate Integral Involvement. Additional information on Integral Involvement can be found in Section V. of this NOFA. 2. Distressed Community Determination by a BEA Applicant: Applicants applying for a BEA Program Award for performing Distressed Community Financing Activities or Service Activities must verify that addresses of both Baseline Period and Assessment Period activities are in Distressed Communities when completing their Application. A BEA Applicant shall determine an area is a Distressed Community by: a. Selecting a census tract where the Qualified Activity occurred that meets the minimum area and eligibility requirements; or 45665 b. selecting the census tract where the Qualified Activity occurred, plus one or more census tracts directly contiguous to where the Qualified Activity occurred that when considered in the aggregate, meet the minimum area and eligibility requirements set forth in this section. F. Award Agreement: Each Recipient under this NOFA must electronically sign an Award Agreement via AMIS prior to disbursement by the CDFI Fund of the award proceeds. The Award Agreement contains the terms and conditions of the award. For further information, see Section VI. of this NOFA. G. Use of Award: It is the policy of the CDFI Fund that BEA Program Awards may not be used by Recipients to recover overhead or Indirect Costs. The Recipient may use up to fifteen percent (15%) of the total BEA Program award amount on Qualified Activities as Direct Administrative Expenses. ‘‘Direct Administrative Expenses’’ shall mean Direct Costs, as described in section 2 CFR 200.413 of the Uniform Requirements, which are incurred by the Recipient to carry out the Qualified Activities. Such costs must be able to be specifically identified with the Qualified Activities and not also recovered as Indirect Costs. ‘‘Indirect Costs’’ means costs or expenses defined in accordance with section 2 CFR 200.56 of the Uniform Requirements. In addition, the Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303, with respect to any Direct Costs. III. Eligibility Information A. Eligible Applicants: For the purposes of this NOFA, the following table sets forth the eligibility criteria to receive an award from the CDFI Fund. TABLE 2—ELIGIBILITY REQUIREMENTS FOR APPLICANTS Criteria Description Eligible Applicants ....... Eligible Applicants for the BEA Program must be Insured Depository Institutions, as defined in the Interim Rule. For the FY 2017 funding round, an Applicant must be FDIC-insured as of December 31, 2016 to be eligible for consideration for a BEA Program Award under this NOFA. The depository institution holding company of an Insured Depository Institution may not apply on behalf of an Insured Depository Institution. Applications received from depository institution holding companies will be disqualified. For the FY 2017 funding round, an eligible certified-CDFI Applicant is an Insured Depository Institution that was certified as a CDFI as of December 31, 2016 and that maintains its status as a certified CDFI at the time BEA Program Awards are announced under this NOFA. No CDFI Applicant may receive a FY 2017 BEA Program Award if it has: (1) An application pending for assistance under the FY 2017 round of the CDFI Program; (2) been awarded assistance from the CDFI Fund under the CDFI Program within the 12-month period prior to the Federal Award Date of the FY 2017 Award Agreement issued by the CDFI Program; or (3) ever received assistance under the CDFI Program for the same activities for which it is seeking a FY 2017 BEA Program Award. Please note that Applicants may apply for both a CDFI Program award and a BEA Program Award in FY 2017; however, receiving a FY 2017 CDFI Program award removes an Applicant from eligibility for a FY 2017 BEA Program Award. If an Applicant’s CDFI certification application was submitted to the CDFI Fund as of December 31, 2016 (the last day of the assessment period), but was ultimately approved by the CDFI Fund prior to the publication of the FY 2017 NOFA, then the Applicant’s CDFI status is considered ‘‘certified’’ for purposes of the FY 2017 BEA application. The CDFI Fund will conduct a debarment check and will not consider an Application submitted by an Applicant if the Applicant is delinquent on any Federal debt. asabaliauskas on DSKBBXCHB2PROD with NOTICES CDFI Applicant ............ Debarment/Do Not Pay Verification. VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 45666 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices TABLE 2—ELIGIBILITY REQUIREMENTS FOR APPLICANTS—Continued Criteria Description The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The Do Not Pay Business Center provides delinquency information to the CDFI Fund to assist with the debarment check. B. Prior Award Recipients: The previous success of an Applicant in any of the CDFI Fund’s programs will not be considered under this NOFA. Prior BEA Program Award Recipients and prior award recipients of other CDFI Fund programs are eligible to apply under this NOFA, except as noted in the following table: TABLE 3—ELIGIBILITY REQUIREMENTS FOR APPLICANTS WHICH ARE PRIOR RECIPIENTS Criteria Pending resolution of noncompliance. asabaliauskas on DSKBBXCHB2PROD with NOTICES Default status .............. Description If an Applicant that is a prior recipient or allocatee under any CDFI Fund program: (i) Has submitted reports to the CDFI Fund that demonstrate noncompliance with a previous assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee and (ii) the CDFI Fund has yet to make a final determination as to whether the entity is in default of its previous agreement, the CDFI Fund will consider the Applicant’s Application under this NOFA pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. The CDFI Fund will not consider an Application submitted by an Applicant that is a prior CDFI Fund award recipient or allocatee under any CDFI Fund program if, as of the applicable Application deadline of this NOFA, the CDFI Fund has made a final determination that such Applicant is in default of a previously executed assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee. Such entities will be ineligible to apply for an Award pursuant to this NOFA so long as the Applicant’s prior award or allocation remains in default status or such other time period as specified by the CDFI Fund in writing. C. Contact the CDFI Fund: Accordingly, Applicants that are prior recipients and/or allocatees under any CDFI Fund program are advised to comply with requirements specified in an assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee. All outstanding reports and compliance questions should be directed to the Certification, Compliance Monitoring and Evaluation helpdesk by submitting a BEA Compliance and Reporting AMIS Service Request or by telephone at (202) 653–0423. The CDFI Fund will respond to Applicants’ reporting, compliance, or disbursement questions between the hours of 9:00 a.m. and 5:00 p.m. ET, starting on the date of the publication of this NOFA. 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 November 28, 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 November 30, 2017, via an IT AMIS Service Request, email at AMIS@ cdfi.treas.gov, or by telephone at (202) 653–0422. D. Cost sharing or matching fund requirements: Not applicable. VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 IV. Application and Submission Information A. Address to Request an Application Package: Application materials can be found on Grants.gov and the CDFI Fund’s Web site at www.cdfifund.gov/ bea. Applicants may request a paper version of any Application material by contacting the CDFI Fund Help Desk at cdfihelp@cdfi.treas.gov. B. Content and Form of Application Submission: All Application materials must be prepared using the English language and calculations must be made in U.S. dollars. Applicants must submit all materials described in and required by the Application by the applicable deadlines. Detailed Application content requirements including instructions related to the submission of the Grant Application Package in Grants.gov and the FY 2017 BEA Program Application in AMIS, the CDFI Fund’s web-based portal, are provided in detail in the Application Instructions. Once an Application is submitted, the Applicant will not be allowed to change any element of the Application. The CDFI Fund reserves the right to request and review other pertinent or public information that has not been specifically requested in this NOFA or the Application. C. Application Submission: The CDFI Fund has a two-step submission process for BEA Applications that requires the submission of required application information on two separate deadlines PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 and in two separate and distinct systems, Grants.gov and the CDFI Fund’s AMIS. The first step is the submission of the Grant Application, which consists solely of the Office of Management and Budget Standard Form–424 Mandatory (SF–424 Mandatory) Application for Federal Assistance, in Grants.gov. The second step is to sumbit an FY 2017 BEA Program Application in AMIS. D. Grants.gov: Applicants must be registered with Grants.gov to submit the Grants Application Package. The Grants Application Package consists of one item, the SF–424 Mandatory. In order to register with Grants.gov, Applicants must have a DUNS number and have an active registration with SAM.gov. The CDFI Fund strongly encourages Applicants to start the Grants.gov registration process as soon as possible (refer to the following link: https:// www.grants.gov/web/grants/ register.html) as it may take several weeks to complete. Applicants that have previously registered with Grants.gov must verify that the registration is current and active. Applicants should contact Grants.gov directly with questions related to the registration or submission process as the CDFI Fund does not administer or maintain this system. Applicants are required to submit a Grant Application Package in Grants.gov and have it validated by the Grants.gov submission deadline of November 16, 2017. The Grant Application Package is validated by E:\FR\FM\29SEN1.SGM 29SEN1 asabaliauskas on DSKBBXCHB2PROD with NOTICES Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices Grants.gov after the Applicant’s initial submission and it may take Grants.gov up to 48 hours to complete the validation process. Therefore, the CDFI Fund encourages Applicants to submit the Grant Application Package as early as possible. This will help to ensure that the Grant Application Package is validated before the Grants.gov submission deadline and provide time for Applicants to contact Grants.gov directly to resolve any submission issues since the CDFI Fund does not administer or maintain that system. For more information about Grants.gov, please visit https://www.grants.gov and see Table 8 for Grants.gov contact information. The CDFI Fund can only electronically retrieve validated Grant Application Packages from Grants.gov and therefore only considers the submission of the Grant Application Package to be successful when it has been validated by Grants.gov before the submission deadline. It is the Applicant’s sole responsibility to ensure that its Grant Application Package is submitted and validated by Grants.gov before the submission deadline. Applicants that do not successfully submit their Grant Application Package and have it validated by the Grants.gov by the submission deadline will not be able to submit a FY 2017 BEA Program Application in AMIS. The CDFI Fund will electronically retrieve validated Grant Application Packages from Grants.gov on a daily basis. Applicants are advised that it will take up to 48 hours from when the CDFI Fund retrieves the validated Grant Application Package for it to be available in AMIS to associate with a FY 2017 BEA Program Application. Once the CDFI Fund has retrieved the validated Grant Application Package from Grants.gov and made it available in AMIS, Applicants must associate it with their Application. Applicants can begin working on their FY 2017 BEA Program Application in AMIS at any time, however, they will not be able to submit the application until the validated Grant Application Package is associated, by the Applicant, with the application. Applicants are advised that the CDFI Fund will not notify them when the validated Grant Application Package has been retrieved from Grants.gov or when it is available in AMIS. It is the Applicant’s responsibility to ensure that the validated SF–424 Mandatory is associated with its FY 2017 BEA Application in AMIS. Applicants will not be able to submit their FY 2017 BEA Program Application without completing this step. VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 Applicants are advised that the lookup function in the FY 2017 BEA Application in AMIS, uses the DUNS number reported on the validated Grant Application Package to match it with the correct AMIS Organization account. Therefore, Applicants must make sure the DUNS number included in the Grant Application Package submitted in Grants.gov matches the DUNS number in their AMIS Organization account. If, for example, the DUNS number does not match because the Applicant inadvertently used the DUNS number of their Bank Holding Company on the Grant Application Package in Grants.gov and is attempting to associate with AMIS Organization account of their FDIC-Insured Bank subsidiary, the lookup function will not return any results and the Applicant will not be able to submit the FY 2017 BEA Application. Applicants are also highly encouraged to provide EIN, Authorized Representative and/or Contact Person information on the Grant Application Package that matches the information included in AMIS Organization account. E. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to the Uniform Administrative Requirements, each Applicant must provide, as part of its Application submission, a Dun and Bradstreet Universal Numbering System (DUNS) number. Applicants without a DUNS number will not be able to submit a Grant Application Package in Grants.gov. Applicants should allow sufficient time for Dun & Bradstreet to respond to inquiries and/or requests for DUNS numbers. F. System for Award Management (SAM): An active SAM account is required to submit the required Grant Application Package in Grants.gov. Any entity applying for Federal grants or other forms of Federal financial assistance through Grants.gov must be registered in SAM in order to submit an Application. 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. Applicants are required to maintain a current and active SAM account at all times during which it has an active Federal award or an Application under consideration for an award 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 Grant Application Package in Grants.gov, or FY 2017 BEA Program Application in PO 00000 Frm 00093 Fmt 4703 Sfmt 4703 45667 AMIS by the respective deadlines. Applicants must contact SAM directly with questions related to SAM registration or account changes as the CDFI Fund does not administer or maintain this system. For more information about SAM, please visit https://www.sam.gov or call 866–606– 8220. G. AMIS: All Applicants must complete an FY 2017 BEA Program Application in AMIS, the CDFI Fund’s web-based portal. All Applicants must register User and Organization accounts in AMIS by the applicable Application deadline. Failure to register and complete a FY 2017 BEA Program Application in AMIS will result in the CDFI Fund being unable to accept the Application. As AMIS is the CDFI Fund’s primary means of communication with Applicants and Recipients, institutions must make sure that they update their contact information in their AMIS accounts. In addition, the Applicant should ensure that the institution information (name, EIN, DUNS number, Authorized Representative, contact information, etc.) on the Grant Application Package submitted as part of the Grant Application Package in Grants.gov matches the information in AMIS. EINs and DUNS numbers in the Applicant’s SAM account must match those listed in AMIS. For more information on AMIS, please see the information available through the AMIS Home page at https:// amis.cdfifund.gov. Qualified Activity documentation and other attachments as specified in the applicable BEA Program Application must also be submitted electronically via AMIS. Detailed instructions regarding submission of Qualified Activity documentation is provided in the Application Instructions. Applicants will not be allowed to submit missing Qualified Activity documentation after the Application deadline and any Qualified Activity missing the required documentation will be disqualified. Qualified Activity documentation delivered by hard copy to the CDFI Fund’s Washington, DC office address will be rejected, unless the Applicant previously requested a paper version of the Application as described in Section IV.A. H. Submission Dates and Times: The following table provides the critical deadlines for the FY 2017 BEA Funding Round. Applications and any other required documents or attachments received after the applicable deadline will be rejected. The document submission deadlines stated in this NOFA and the Application are strictly enforced. The CDFI Fund will not grant E:\FR\FM\29SEN1.SGM 29SEN1 45668 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices exceptions or waivers for late submissions except where the submission delay was a direct result of a Federal government administrative or technological error. Description asabaliauskas on DSKBBXCHB2PROD with NOTICES Grant Application Package/SF–424 Mandatory. Submission Method: Electronically via Grants.gov ...................................... FY 2017 BEA Program Application. Submission Method: Electronically via AMIS .............................................. 1. Confirmation of Application Submission: Applicants may verify that their Grant Application Package was successfully submitted and validated in Grants.gov and that their FY 2017 BEA Program Application was successfully submitted in AMIS. Applicants should note that the Grant Application Package consists solely of the SF–424 Mandatory and has a different deadline than the FY 2017 BEA Program Application. These deadlines are provided above in Table 4. FY 2017 BEA Program Funding Round Critical Deadlines for Applicants. If the Grant Application Package is not successfully submitted and subsequently validated by Grants.gov by the deadline, the CDFI Fund will not review the FY 2017 BEA Program Application or any of the application related material submitted in AMIS and the Application will be deemed ineligible. a. Grants.gov Submission Information: Each Applicant will receive an email from Grants.gov immediately after the Grant Application Package is submitted confirming that the submission has entered the Grants.gov system. This email will contain a tracking number. Within 48 hours, the Applicant will receive a second email which will indicate if the submitted Grant Application Package was successfully validated or rejected with errors. However, Applicants should not rely on the second email notification from Grants.gov to confirm that the Grant Application Package was validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their Grant Application Package. The Grant Application Package cannot be retrieved by the CDFI Fund until it has been validated by Grants.gov. b. AMIS Submission Information: AMIS is the web-based portal where Applicants will directly enter their application information and add supporting documentation, when applicable. 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 VerDate Sep<11>2014 20:50 Sep 28, 2017 Jkt 241001 Time (Eastern Time) Deadline November 16, 2017 ............................. 11:59 p.m. ET. November 30, 2017 ............................. 5:00 p.m. ET. to the Application deadline. Only the Authorized Representative or an Application Point of Contact can submit the FY 2017 BEA Program Application in AMIS. Applicants will not receive an email confirming that their FY 2017 BEA Program Application was successfully submitted in AMIS. Instead, Applicants should check their AMIS account to ensure that the status of the FY 2017 BEA Program Application shows ‘‘Under Review.’’ Step-by-step instructions for submitting an FY 2017 BEA Program Application in AMIS are provided in the Application Instructions, Supplemental Guidance, and AMIS Application Manual. 2. Multiple Application Submissions: If an Applicant submits multiple versions of its Grant Application Package in Grants.gov, the Applicant can only associate one with its FY 2017 BEA Program Application in AMIS. Applicants can only submit one FY 2017 BEA Program 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 a submitted Application or allow multiple Application submissions. 3. Late Submission: The CDFI Fund will not accept an Application submitted after the Application deadline except where the submission delay was a direct result of a Federal government administrative or technological error. In such case, the Applicant must submit their request for acceptance of a late Application submission to the BEA Program Office via an AMIS Service Request with documentation that clearly demonstrates the error by no later than two business days after the applicable Application deadline for Grants.gov or AMIS. The CDFI Fund will not respond to request for acceptance of late Application submissions after that time period. The AMIS Service Request must be directed to the BEA Program with a subject line of ‘‘Late Application Submission Request.’’ I. Funding Restrictions: BEA Program Awards are limited by the following: PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 1. The Recipient shall use BEA Program Award funds only for the eligible activities described in Section II. D. of this NOFA and its Award Agreement. 2. The Recipient may not distribute BEA Program Award funds to an affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. 3. BEA Program Award funds shall only be disbursed to the Recipient. 4. The CDFI Fund, in its sole discretion, may disburse BEA Program Award funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. J. Other Submission Requirements: None. V. Application Review Information A. Criteria: If the Applicant submitted a complete and eligible Application, the CDFI Fund will conduct a substantive review in accordance with the criteria and procedures described in the Regulations, this NOFA, the Application guidance, and the Uniform Requirements. The CDFI Fund reserves the right to contact the Applicant by telephone, email, or mail for the sole purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI Fund or run the risk that its Application will be rejected. 1. CDFI Related Activities: CDFI Related Activities include Equity Investments, Equity-Like Loans, and CDFI Support Activities provided to eligible CDFI Partners. 2. Eligible CDFI Partner: CDFI Partner is defined as a certified CDFI that has been provided assistance in the form of CDFI Related Activities by an unaffiliated Applicant (12 CFR 1806.103). For the purposes of this NOFA, an eligible CDFI Partner must have been certified as a CDFI as of the end of the applicable Assessment Period and be Integrally Involved in a Distressed Community. 3. Integrally Involved: Integrally Involved is defined at 12 CFR 1806.103. E:\FR\FM\29SEN1.SGM 29SEN1 asabaliauskas on DSKBBXCHB2PROD with NOTICES Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices For purposes of this NOFA, for a CDFI Partner to be deemed to be Integrally Involved, it must have: (i) Provided at least 10 percent of financial transactions or dollars transacted (e.g., loans or Equity Investments), or 10 percent of Development Service Activities (as defined in 12 CFR 1805.104), in one or more Distressed Communities identified by the Applicant or the CDFI Partner, as applicable, in each of the three calendar years preceding the date of this NOFA; (ii) transacted at least 25 percent of financial transactions (e.g., loans or equity investments) in one or more Distressed Communities in at least one of the three calendar years preceding the date of this NOFA; or (iii) demonstrated that it has attained at least 10 percent of market share for a particular financial product in one or more Distressed Communities (such as home mortgages originated in one or more Distressed Communities) in at least one of the three calendar years preceding the date of this NOFA. 4. Limitations on eligible Qualified Activities provided to certain CDFI Partners: A CDFI Applicant cannot receive credit for any financial assistance or Qualified Activities provided to a CDFI Partner that is also an FDIC-insured depository institution or depository institution holding company. 5. Certificates of Deposit: Section 1806.103 of the Interim Rule states that any certificate of deposit (CD) placed by an Applicant or its Subsidiary in a CDFI Partner that is a bank, thrift, or credit union must be: (i) Uninsured and committed for at least three years; or (ii) insured, committed for a term of at least three years, and provided at an interest rate that is materially below market rates, in the determination of the CDFI Fund. a. For purposes of this NOFA, ‘‘materially below market interest rate’’ is defined as an annual percentage rate that does not exceed 100 percent of yields on Treasury securities at constant maturity as interpolated by Treasury from the daily yield curve and available on the Treasury Web site at www.treas.gov/offices/domesticfinance/debt-management/interest-rate/ yield.shtml. For example, for a threeyear CD, Applicants should use the three-year rate U.S. Government securities, Treasury Yield Curve Rate posted for that business day. The Treasury updates the Web site daily at approximately 5:30 p.m. ET. CDs placed prior to that time may use the rate posted for the previous business day. The annual percentage rate on a CD should be compounded daily, quarterly, semi-annually, or annually. If a variable VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 interest rate is used, the CD must also have an interest rate that is materially below the market interest rate over the life of the CD, in the determination of the CDFI Fund. b. For purposes of this NOFA, a deposit placed by an Applicant directly with a CDFI Partner that participates in a deposit network or service may be treated as eligible under this NOFA if it otherwise meets the criteria for deposits in 12 CFR.1806.103 and the CDFI Partner retains the full amount of the initial deposit or an amount equivalent to the full amount of the initial deposit through a deposit network exchange transaction. 6. Equity Investment: An Equity Investment means financial assistance provided by an Applicant or its Subsidiary to a CDFI, which CDFI meets such criteria as set forth in this NOFA, in the form of a grant, a stock purchase, a purchase of a partnership interest, a purchase of a limited liability company membership interest, or any other investment deemed to be an Equity Investment by the CDFI Fund. 7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an Applicant or its Subsidiary to a CDFI, and made on such terms that it has characteristics of an Equity Investment, as such characteristics may be specified by the CDFI Fund (12 CFR 1806.103). For purposes of this NOFA, an Equity-Like Loan must meet the following characteristics: a. At the end of the initial term, the loan must have a definite rolling maturity date that is automatically extended on an annual basis if the CDFI borrower continues to be financially sound and carry out a community development mission; b. Periodic payments of interest and/ or principal may only be made out of the CDFI borrower’s available cash flow after satisfying all other obligations; c. Failure to pay principal or interest (except at maturity) will not automatically result in a default of the loan agreement; and d. The loan must be subordinated to all other debt except for other EquityLike Loans. Notwithstanding the foregoing, the CDFI Fund reserves the right to determine, in its sole discretion and on a case-by-case basis, whether an instrument meets the above-stated characteristics of an Equity-Like Loan. 8. CDFI Support Activity: A CDFI Support Activity is defined as assistance provided by an Applicant or its Subsidiary to a CDFI that is Integrally Involved in a Distressed Community, in the form of a loan, Technical Assistance, or deposits. PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 45669 9. CDFI Program Matching Funds: Equity Investments, Equity-Like Loans, and CDFI Support Activities (except Technical Assistance) provided by a BEA Applicant to a CDFI and used by the CDFI for matching funds under the CDFI Program are eligible as a Qualified Activity under the CDFI Related Activity category. 10. Commercial Loans and Investments: Commercial Loans and Investments is a sub-category of Distressed Community Financing Activities and is defined as the following lending activity types: Affordable Housing Development Loans and related Project Investments; Commercial Real Estate Loans and related Project Investments; and Small Business Loans and related Project Investments. 11. Consumer Loans: Consumer Loans is a sub-category of Distressed Community Financing Activities and is defined as the following lending activity types: Affordable Housing Loans; Education Loans; Home Improvement Loans; and Small Dollar Consumer Loans. 12. Distressed Community Financing Activities and Service Activities: Distressed Community Financing Activities comply with consumer protection laws and are defined as (1) Consumer Loans; or (2) Commercial Loans and Investments. In addition to the requirements set forth in the Interim Rule, this NOFA provides the following additional requirements: a. Commercial Real Estate Loans and related Project Investments: For purposes of this NOFA, eligible Commercial Real Estate Loans (12 CFR 1806.103) and related Project Investments are generally limited to transactions with a total principal value of $10 million or less. Notwithstanding the foregoing, the CDFI Fund, in its sole discretion, may consider transactions with a total principal value of over $10 million, subject to review. For such transactions, Applicants must provide a separate narrative, or other information, to demonstrate that the proposed project offers, or significantly enhances the quality of, a facility or service not currently provided to the Distressed Community. b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible Small Dollar Consumer Loans are affordable loans that serve as available alternatives to the marketplace for individuals who are Eligible Residents with a total principal value between $500 and $5,000 and have a term of ninety (90) days or more. c. Low- and Moderate-Income residents: For the purposes of this E:\FR\FM\29SEN1.SGM 29SEN1 asabaliauskas on DSKBBXCHB2PROD with NOTICES 45670 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices NOFA, Low-Income means borrower income that does not exceed 80 percent of the area median income, and Moderate-Income means borrower income may be 81 percent to no more than 120 percent of the area median income, according to the U.S. Census Bureau data. 13. Reporting Certain Financial Services: The CDFI Fund will value the administrative cost of providing certain Financial Services using the following per unit values: a. $100.00 per account for Targeted Financial Services including safe transaction accounts, youth transaction accounts, Electronic Transfer Accounts and Individual Development Accounts; b. $50.00 per account for checking and savings accounts that do not meet the definition of Targeted Financial Services; c. $5.00 per check cashing transaction; d. $50,000 per new ATM installed at a location in a Distressed Community; e. $500,000 per new retail bank branch office opened in a Distressed Community, including school-based bank branches approved by the Applicant’s Federal bank regulator; f. In the case of Applicants engaging in Financial Services activities not described above, the CDFI Fund will determine the unit value of such services; g. When reporting the opening of a new retail bank branch office, the Applicant must certify that such new branch is intended to remain in operation for at least the next five years; h. Financial Service Activities must be provided by the Applicant to Eligible Residents or enterprises that are located in a Distressed Community. An Applicant may determine the number of Eligible Residents who are recipients of Financial Services by either: (i) Collecting the addresses of its Financial Services customers, or (ii) certifying that the Applicant reasonably believes that such customers are Eligible Residents or enterprises located in a Distressed Community and providing a brief analytical narrative with information describing how the Applicant made this determination. Citations must be provided for external sources. In addition, if external sources are referenced in the narrative, the Applicant must explain how it reached the conclusion that the cited references are directly related to the Eligible Residents or enterprises to whom it is claiming to have provided the Financial Services; and i. When reporting changes in the dollar amount of deposit accounts, only calculate the net change in the total VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 dollar amount of eligible Deposit Liabilities between the Baseline Period and the Assessment Period. Do not report each individual deposit. If the net change between the Baseline Period and Assessment Period is a negative dollar amount, then a negative dollar amount may be recorded for Deposit Liabilities only. Instructions for determining the net change is available in the Supplemental Guidance to the FY 2017 BEA Program Application. 14. Priority Factors: Priority Factors are the numeric values assigned to individual types of activity within: (i) The Distressed Community Financing Activities, and (ii) Services Activities categories of Qualified Activities. For the purposes of this NOFA, Priority Factors will be based on the Applicant’s asset size as of the end of the Assessment Period (December 31, 2016) as reported by the Applicant in the Application. Asset size classes (i.e., small institutions, intermediate-small institutions, and large institutions) will correspond to the Community Reinvestment Act (CRA) asset size classes set by the three Federal bank regulatory agencies and that were effective as of the end of the Assessment Period. The Priority Factor works by multiplying the change in a Qualified Activity by the assigned Priority Factor to achieve a ‘‘weighted value.’’ This weighted value of the change would be multiplied by the applicable Award percentage to yield the Award amount for that particular activity. For purposes of this NOFA, the CDFI Fund is establishing Priority Factors based on Applicant asset size to be applied to all activity within the Distressed Community Financing Activities and Service Activities categories only, as follows: TABLE 5—CRA ASSET SIZE CLASSIFICATION Priority factor Small institutions (assets of less than $304 million as of 12/31/ 2016) ......................................... Intermediate—small institutions (assets of at least $304 million but less than $1.2216 billion as of 12/31/2016) ........................... Large institutions (assets of $1.2216 billion or greater as of 12/31/2016) ............................... 5.0 3.0 1.0 15. Certain Limitations on Qualified Activities: a. Low-Income Housing Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits through Low-Income PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 Housing Tax Credits, authorized pursuant to Section 42 of the Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a BEA Program Award. b. New Markets Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits as an investor in a Community Development Entity that has received an allocation of New Markets Tax Credits, authorized pursuant to Section 45D of the Internal Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an Equity Investment, Project Investment, or other Qualified Activity, for the purposes of calculating or receiving a BEA Program Award. Leverage loans used in New Markets Tax Credit structured transactions that meet the requirements outlined in this NOFA are considered Distressed Community Financing Activities. The application materials will provide further guidance on requirements for BEA transactions which were leverage loans used in a New Markets Tax Credit structured transaction. c. Loan Renewals and Refinances: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, as defined in this part, for the purposes of calculating or receiving a BEA Program Award if such financial assistance consists of a loan to a borrower that has matured and is then renewed by the Applicant, or consists of a loan to a borrower that is retired or restructured using the proceeds of a new commitment by the Applicant. Payoff of a separate third party obligation will only be considered a Qualified Activity if the payoff of a transaction is part of the sale of property or business to an unaffiliated party to the borrower. Applicants should include a narrative statement to describe any such transactions. Otherwise the transaction will be disqualified. d. Certain Business Types: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, as defined in this part, for the purposes of financing the following business types: Adult entertainment providers, golf courses, race tracks, gambling facilities, country clubs, massage parlors, hot tub facilities, suntan facilities, or stores where the principal business is the sale of alcoholic beverages for consumption off premises. e. Prior BEA Program Awards: Qualified Activities funded with prior funding round BEA Program Award dollars or funded to satisfy requirements of the BEA Program Award Agreement E:\FR\FM\29SEN1.SGM 29SEN1 asabaliauskas on DSKBBXCHB2PROD with NOTICES Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices shall not constitute a Qualified Activity for the purposes of calculating or receiving a BEA Program Award. f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA Program Award for activities funded by another CDFI Fund program or Federal program. 16. Award Percentages, Award Amounts, Application Review Process, Selection Process, Programmatic and Financial Risk, and Application Rejection: The Interim Rule and this NOFA describe the process for selecting Applicants to receive a BEA Program Award and determining Award amounts. a. Award Percentages: In the CDFI Related Activities subcategory of CDFI Equity, for all Applicants, the estimated award amount will be equal to 18 percent of the increase in Qualified Activities reported in this subcategory. In the CDFI Related Activities subcategory of CDFI Support Activities, for a certified CDFI Applicant, the estimated award amount will be equal to 18 percent of the increase in Qualified Activities in this subcategory. If an Applicant is not a certified CDFI, the estimated award amount will be equal to 6 percent of the increase in Qualified Activities in this subcategory. In Distressed Community Financing Activities’ subcategory of Consumer Lending, the estimated award amount for certified CDFI Applicants will be 18 percent of the weighted value of the increase in Qualified Activities in this subcategory. If an Applicant is not a certified CDFI Applicant, the estimated award amount will be equal to 6 percent of the weighted value of the increase in Qualified Activities in this subcategory. In Distressed Community Financing Activities’ subcategory of Commercial Lending and Investments, for a certified CDFI Applicant, the estimated award amount will be equal to 9 percent of the weighted value of the increase in Qualified Activities in this subcategory. If an Applicant is not a certified CDFI, the estimated award amount will be equal to 3 percent of the weighted value of the increase in Qualified Activity in this subcategory. In the Service Activities category, for a certified CDFI Applicant, the estimated award amount will be equal to 9 percent of the weighted value of the increase in Qualified Activity for the category. If an Applicant is not a certified CDFI, the estimated award amount will be equal to 3 percent of the weighted value of the increase in Qualified Activity for the category. b. Award Amounts: An Applicant’s estimated award amount will be calculated according to the procedure VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 outlined in the Interim Rule (at 12 CFR 1806.403). As outlined in the Interim Rule at 12 CFR 1806.404, the CDFI Fund will determine actual Award amounts based on the availability of funds, increases in Qualified Activities from the Baseline Period to the Assessment Period, and the priority ranking of each Applicant. In calculating the increase in Qualified Activities, the CDFI Fund will determine the eligibility of each transaction for which an Applicant has applied for a BEA Program Award. In some cases, the actual award amount calculated by the CDFI Fund may not be the same as the estimated award amount requested by the Applicant. For purposes of calculating award disbursement amounts, the CDFI Fund will treat Qualified Activities with a total principal amount less than or equal to $250,000 as fully disbursed. For all other Qualified Activities, Recipients will have 12 months from the end of the Assessment Period to make disbursements and 18 months from the end of the Assessment Period to submit to the CDFI Fund disbursement requests for the corresponding portion of their awards, after which the CDFI Fund will rescind and de-obligate any outstanding award balance and said outstanding award balance will no longer be available to the Recipient. B. Review and Selection Process: 1. Application Review Process: All Applications will be initially evaluated by external non-Federal reviewers. Reviewers are selected based on their experience in understanding various financial transactions, reading and interpreting financial documentation, strong written communication skills, and strong mathematical skills. Reviewers must complete the CDFI Fund’s conflict of interest process and be approved by the CDFI Fund. 2. Selection Process: If the amount of funds available during the funding round is insufficient for all estimated Award amounts, Recipients will be selected based on the process described in the Interim Rule at 12 CFR 1806.404. This process gives funding priority to Applicants that undertake activities in the following order: (i) CDFI Related Activities, (ii) Distressed Community Financing Activities, and (iii) Service Activities, as described in the Interim Rule at 12 CFR 1806.404(c). Within each category, CDFI Applicants will be ranked first according to the ratio of the actual award amount calculated by the CDFI Fund for the category to the total assets of the Applicant, followed by Applicants that are not CDFI Applicants according to the ratio of the actual award amount calculated by the CDFI PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 45671 Fund for the category to the total assets of the Applicant. Selections within each priority category will be based on the Applicants’ relative rankings within each such category, subject to the availability of funds and any established maximum dollar amount of total awards that may be awarded for the Distressed Community Financing Activities category of Qualified Activities, as determined by the CDFI Fund. The CDFI Fund, in its sole discretion: (i) May adjust the estimated award amount that an Applicant may receive; (ii) may establish a maximum amount that may be awarded to an Applicant; and (iii) reserves the right to limit the amount of an award to any Applicant if the CDFI Fund deems it appropriate. The CDFI Fund reserves the right to contact the Applicant to confirm or clarify information. If contacted, the Applicant must respond within the CDFI Fund’s time parameters or the Application may be rejected. The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures. If those changes materially affect the CDFI Fund’s award decisions, the CDFI Fund will provide information regarding the changes through the CDFI Fund’s Web site. 3. Programmatic and Financial Risk: The CDFI Fund will consider safety and soundness information from the appropriate Federal bank regulatory agency as defined in Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank regulatory agency identifies safety and soundness concerns, the CDFI Fund will assess whether the concerns cause or will cause the Applicant to be incapable of completing the activities for which funding has been requested. The CDFI Fund will not approve a BEA Program Award under any circumstances for an Applicant if the appropriate Federal bank regulatory agency indicates that the Applicant received a composite rating of ‘‘5’’ on its most recent examination, performed in accordance with the Uniform Financial Institutions Rating System. Furthermore, the CDFI Fund will not approve a BEA Program Award for an Applicant that has: a. A CRA assessment rating of below ‘‘Satisfactory’’ on its most recent examination; b. a going concern opinion on its most recent audit; c. a Prompt Corrective Action directive from its regulator that was active at the time the Applicant submitted its Application to the CDFI E:\FR\FM\29SEN1.SGM 29SEN1 45672 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices Fund or becomes active during the CDFI Fund’s evaluation of the Application. Applicants and/or their appropriate Federal bank regulator agency may be contacted by the CDFI Fund to provide additional information related to Federal bank regulatory or CRA information. The CDFI Fund will consider this information and may choose to not approve a BEA Program Award for an Applicant if the information indicates that the Applicant may be unable to responsibly manage, re-invest, and/or report on a BEA Program Award during the performance period. 4. Persistent Poverty Counties: Should the CDFI Fund determine, upon analysis of the initial pool of BEA Program Award Recipients, that it has not achieved the 10 percent PPC requirement mandated by Congress, Award preference will be given to Applicants that committed to deploying a minimum of 10 percent of their FY 2017 BEA Program Award in PPCs. Applicants may be required to deploy more than the minimum commitment percentage, but the percentage required should not exceed the maximum commitment percentage provided in the Application. Applicants that committed to serving PPCs and are selected to receive a FY 2017 BEA Program award, will have their PPC commitment incorporated into their Award Agreement as a Performance Goal which will be subject to compliance and reporting requirements. No applicant, however, will be disqualified from consideration for not making a PPC commitment in its BEA Program Application. 5. Application Rejection: The CDFI Fund reserves the right to reject an Application if information (including administrative error) comes to the CDFI Fund’s attention that either: Adversely affects an Applicant’s eligibility for an award; adversely affects the CDFI Fund’s evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicant’s part. If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. There is no right to appeal the CDFI Fund’s award decisions. The CDFI Fund’s award decisions are final. The CDFI Fund will not discuss the specifics of an Applicant’s FY 2017 BEA Program Application or provide reasons why an Applicant was not selected to receive a BEA Program Award. The CDFI Fund will only respond to general questions regarding the FY 2017 BEA Program Application and award decision process until 30 days after the award announcement date. C. Anticipated Announcement and Federal Award Dates: The CDFI Fund anticipates making its FY 2017 BEA Program award announcement in the spring of 2018. The Federal Award Date shall be the date that the CDFI Fund executes the Award Agreement. VI. Federal Award Administration Information A. Federal Award Notices: The CDFI Fund will notify an Applicant of its selection as a Recipient by delivering a notification or letter. The Award Agreement will contain the general terms and conditions governing the CDFI Fund’s provision of an Award. The Award Recipient will receive a copy of the Award Agreement via AMIS. The Recipient is required to sign the Award Agreement via an electronic signature in AMIS. The CDFI Fund will subsequently execute the Award Agreement. Each Recipient must also ensure that complete and accurate banking information is reflected in its SAM account at www.sam.gov in order to receive its award payment. B. Administrative and National Policy Requirements: If, prior to entering into an Award Agreement, information (including an administrative error) comes to the CDFI Fund’s attention that adversely affects: The 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, 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 the Recipient’s certification status as a CDFI changes, the CDFI Fund reserves the right, in its sole discretion, to re-calculate the award, and modify the Award Agreement based on the Recipient’s non-CDFI status. By executing an Award 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 Award Agreement that either adversely affects the Recipient’s eligibility for an award, or adversely affects the CDFI Fund’s evaluation of the 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 Award Agreement or take other actions as it deems appropriate. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to return the Award Agreement, signed by the authorized representative of the Recipient, and/or provide the CDFI Fund with any other requested documentation, within the CDFI Fund’s deadlines. In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA for any criteria described in the following table: TABLE 6—CRITERIA THAT MAY RESULT IN AWARD TERMINATION PRIOR TO THE EXECUTION OF AN AWARD AGREEMENT Description Failure to meet reporting requirements. asabaliauskas on DSKBBXCHB2PROD with NOTICES Criteria If an Applicant is a prior CDFI Fund Recipient or allocatee under any CDFI Fund program and is not current on the reporting requirements set forth in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guaranty, the CDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, until said prior Recipient or allocatee is current on the reporting requirements in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guaranty. Please note that automated systems employed by the CDFI Fund for receipt of reports submitted electronically typically acknowledge only a report’s receipt; such acknowledgment does not warrant that the report received was complete and therefore met reporting requirements. If said prior Recipient or allocatee is unable to meet this requirement within the timeframe set by the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the award made under this NOFA. VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices 45673 TABLE 6—CRITERIA THAT MAY RESULT IN AWARD TERMINATION PRIOR TO THE EXECUTION OF AN AWARD AGREEMENT— Continued Criteria Pending resolution of noncompliance. Default status .............. Compliance with Federal civil rights requirements. Do Not Pay .................. Safety and Soundness Description If, at any time prior to entering into an Award Agreement under this NOFA, an Applicant that is a prior CDFI Fund Recipient or allocatee under any CDFI Fund program: (i) Has submitted reports to the CDFI Fund that demonstrate noncompliance with a previous assistance, award, or allocation agreement, but (ii) 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 Award Agreement and/or to delay making a disbursement of award proceeds, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. If said prior Recipient or allocatee is unable to meet this requirement, in the sole determination of the CDFI Fund, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the award made under this NOFA. If prior to entering into an Award Agreement under this NOFA: (i) The CDFI Fund has made a final determination that an Applicant that is a prior CDFI Fund Recipient or allocatee under any CDFI Fund program whose award or allocation terminated in default of such prior agreement; (ii) the CDFI Fund has provided written notification of such determination to such organization; and (iii) the anticipated date for entering into the Award Agreement under this NOFA is within a period of time specified in such notification throughout which any new award, allocation, assistance, bond loan agreement(s), or agreement to guarantee is prohibited, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA. If prior to entering into an Award Agreement under this NOFA, the Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient is identified as ineligible to be a Recipient per the Do Not Pay database. If it is determined the Recipient is or will be incapable of meeting its award obligations, the CDFI Fund will deem the Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Award Agreement. C. Award Agreement: After the CDFI Fund selects a Recipient, unless an exception detailed in this NOFA applies, the CDFI Fund and the Recipient will enter into an Award Agreement. The Award Agreement will set forth certain required terms and conditions of the award, which will include, but not be limited to: (i) The amount of the award; (ii) the approved uses of the award; (iii) the performance goals and measures; (iv) the performance periods; and (v) the reporting requirements. The Award Agreement shall provide that a Recipient shall: (i) Carry out its Qualified Activities in accordance with applicable law, the approved Application, and all other applicable requirements; (ii) not receive any disbursement of award dollars until the CDFI Fund has determined that the Recipient has fulfilled all applicable requirements; and (iii) use the BEA Program Award amount for Qualified Activities. Recipients which committed to serving PPCs will have their PPC commitment incorporated into their Award Agreement as a performance goal which will be subject to compliance and reporting requirements. D. Reporting: Through this NOFA, the CDFI Fund will require each Recipient to account for and report to the CDFI Fund on the use of the award. This will require Recipients to establish administrative controls, subject to applicable OMB Circulars. The CDFI Fund will collect information from each such Recipient on its use of the award at least once following the award and more often if deemed appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will provide guidance to Recipients outlining the format and content of the information required to be provided to describe how the funds were used. The CDFI Fund may collect information from each Recipient including, but not limited to, an Annual Report with the following components: TABLE 7—REPORTING REQUIREMENTS asabaliauskas on DSKBBXCHB2PROD with NOTICES Criteria Description Single Audit Narrative Report (or like report). Use of BEA Program Award Report—for all Recipients. Use of BEA Program Award Report—Funds Deployed in Persistent Poverty Counties. For each year of its performance period, the Recipient must answer in the Financial Report section in AMIS, as to whether it is required to have a single audit pursuant to OMB Single Audit requirements. Recipients must submit the Use of Award report to the CDFI Fund via AMIS. Explanation of Noncompliance (as applicable) or successor report. VerDate Sep<11>2014 18:50 Sep 28, 2017 The CDFI Fund will require each Recipient with Persistent Poverty County commitments to report data for Award funds deployed in persistent poverty counties and maintain proper supporting documentation and records which are subject to review by the CDFI Fund’s Certification, Compliance Monitoring, and Evaluation unit. If the Recipient fails to meet a Performance Goal or reporting requirement, it must submit the Explanation of Noncompliance via AMIS. Jkt 241001 PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 E:\FR\FM\29SEN1.SGM 29SEN1 45674 Federal Register / Vol. 82, No. 188 / Friday, September 29, 2017 / Notices Each Recipient is responsible for the timely and complete submission of the reporting requirements. The CDFI Fund reserves the right to contact the Recipient to request additional information and documentation. The CDFI Fund may consider financial information filed with Federal regulators during its compliance review. The CDFI Fund will use such information to monitor each Recipient’s compliance with the requirements in the Award Agreement and to assess the impact of the BEA Program. The CDFI Fund reserves the right, in its sole discretion, to modify these reporting requirements if it determines it to be appropriate and necessary; however, such reporting requirements will be modified only after notice has been provided to Recipients. E. 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 award. These systems must be sufficient to permit the preparation of reports required by general and program specific terms and conditions, including the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal statutes, regulations, and the terms and conditions of the award. Each of the Qualified Activities categories will be ineligible for indirect costs and an associated indirect cost rate. The cost principles used by Recipients must be consistent with Federal cost principles and support the accumulation of costs as required by the principles, and must provide for adequate documentation to support costs charged to the BEA Program Award. In addition, the CDFI Fund will require Recipients to: Maintain effective internal controls; comply with applicable statutes, regulations, and the Award Agreement; evaluate and monitor compliance; take action when not in compliance; and safeguard personally identifiable information. VII. Federal Awarding Agency Contacts A. Questions Related to Application and Prior Recipient Reporting, Compliance and Disbursements: The CDFI Fund will respond to questions concerning this NOFA, the Application and reporting, compliance, or disbursements between the hours of 9:00 a.m. and 5:00 p.m. Eastern Time, starting on the date that this NOFA is published through the date listed in Table 1. The CDFI Fund will post responses to frequently asked questions in a separate document on its Web site. Other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund’s Web site at https://www.cdfifund.gov. The following table lists contact information for the CDFI Fund, Grants.gov and SAM: TABLE 8—CONTACT INFORMATION Telephone number (not toll free) Type of question asabaliauskas on DSKBBXCHB2PROD with NOTICES BEA Program ............................................ Certification, Compliance Monitoring, and Evaluation. AMIS—IT Help Desk ................................ Grants.gov Help Desk .............................. SAM.gov (Federal Service Desk) ............. 202–653–0421 202–653–0423 BEA AMIS Service Request. BEA Compliance and Reporting AMIS Service Request. 202–653–0422 800–518–4726 866–606–8220 IT AMIS Service Request. support@grants.gov. Web form via https://www.fsd.gov/fsd-gov/login.do. B. Information Technology Support: People who have visual or mobility impairments that prevent them from using the CDFI Fund’s Web site should call (202) 653–0422 for assistance (this is not a toll free number). C. Communication with the CDFI Fund: The CDFI Fund will use its AMIS Internet interface to communicate with Applicants and Recipients under this NOFA. Recipients must use AMIS to submit required reports. The CDFI Fund will notify Recipients by email using the addresses maintained in each Recipient’s AMIS account. Therefore, a Recipient and any Subsidiaries, signatories, and Affiliates must maintain accurate contact information (including contact person and authorized representative, email addresses, fax numbers, phone numbers, and office addresses) in their AMIS account(s). D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services from CDFI Fund or Recipients under any of its programs is entitled to those benefits or services without being subject to prohibited discrimination. The Department of the VerDate Sep<11>2014 18:50 Sep 28, 2017 Jkt 241001 Electronic contact method Treasury’s Office of Civil Rights and Diversity enforces various Federal statutes and regulations that prohibit discrimination in financially assisted and conducted programs and activities of the CDFI Fund. If a person believes that s/he has been subjected to discrimination and/or reprisal because of membership in a protected group, s/ he may file a complaint with: Associate Chief Human Capital Officer, Office of Civil Rights, and Diversity, 1500 Pennsylvania Ave. NW., Washington, DC 20220 or (202) 622–1160 (not a tollfree number). VIII. Other Information A. Reasonable Accommodations: Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Mr. Michael Jones, Community Development Financial Institutions Fund, U.S. Department of the Treasury, at JonesM@cdfi.treas.gov no later than 72 hours in advance of the application deadline. B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 U.S.C. PO 00000 Frm 00100 Fmt 4703 Sfmt 9990 chapter 35), an agency may not conduct or sponsor a collection of information, and an individual is not required to respond to a collection of information, unless it displays a valid OMB control number. Pursuant to the Paperwork Reduction Act, the BEA Program funding Application has been assigned the following control number: 1559– 0005. C. Application Information Sessions: The CDFI Fund may conduct webinars or host information sessions for organizations that are considering applying to, or are interested in learning about, the CDFI Fund’s programs. For further information, please visit the CDFI Fund’s Web site at https:// www.cdfifund.gov. Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 1806. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2017–20922 Filed 9–28–17; 8:45 am] BILLING CODE 4810–70–P E:\FR\FM\29SEN1.SGM 29SEN1

Agencies

[Federal Register Volume 82, Number 188 (Friday, September 29, 2017)]
[Notices]
[Pages 45663-45674]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20922]

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

Community Development Financial Institutions Fund

Funding Opportunity Title: Notice of Funds Availability (NOFA)
Inviting Applications for the Fiscal Year (FY) 2017 Funding Round of
the Bank Enterprise Award Program (BEA Program)

Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2017-BEA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
Key Dates:

Table 1--FY 2017 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
Time (Eastern Time--
Description Deadline ET) Contact Information
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424 November 16, 2017...... 11:59 p.m. ET.......... Contact Grants.gov at
Mandatory (Application for Federal 800-518-4726 or
Assistance). support@grants.gov.
Submission Method: Electronically via
Grants.gov.
Last day to contact BEA Program Staff November 28, 2017...... 5:00 p.m. ET........... CDFI Fund BEA Helpdesk:
re: BEA Program Application 202-653-0421 or BEA
materials. Award Management
Information System
(AMIS) Service
Request.\1\
Last day to contact Certification, November 28, 2017...... 5:00 p.m. ET........... CCME Helpdesk: 202-653-
Compliance Monitoring and Evaluation 0423 or Compliance and
(CCME) staff. Reporting AMIS Service
Request.\2\
Last day to contact IT Help Desk re. November 30, 2017...... 5:00 p.m. ET........... CDFI Fund IT Helpdesk:
AMIS support and submission of the 202-653-0422 or IT
FY 2017 BEA Program Application in AMIS Service
AMIS. Request.\3\
FY 2017 BEA Program Application...... November 30, 2017...... 5:00 pm ET............. CDFI Fund IT Helpdesk:
Submission Method: Electronically via 202-653-0422 or IT
AMIS. AMIS Service
Request.\4\
----------------------------------------------------------------------------------------------------------------
\1\ For questions regarding completion of the BEA Application materials, the preferred electronic method of
contact with the BEA Program Office is to submit a Service Request (SR) within AMIS. For the SR, select ``BEA
Application'' for the record type.
\2\ For Compliance and Reporting related questions, the preferred electronic method of contact is to submit a
Service Request (SR) within AMIS. For the SR, select ``General Inquiry'' for the record type, and select ``BEA-
Compliance & Reporting'' for the type.
\3\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
within AMIS. For the SR, select ``General Inquiry'' for the record type, and select ``BEA-AMIS technical
problem'' for the type.
\4\ Ibid.

Executive Summary: This NOFA is issued in connection with the
fiscal year (FY) 2017 funding round of the Bank Enterprise Award
Program (BEA Program). The BEA Program is administered by the U.S.
Department of the Treasury's Community Development Financial
Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund
awards formula-based grants to depository institutions that are insured
by the Federal Deposit Insurance Corporation (FDIC) for increasing
their levels of loans, investments, Service Activities, and technical
assistance within Distressed Communities, and financial assistance to
certified Community Development Financial Institutions (CDFIs) through
equity investments, equity-like loans, grants, stock purchases, loans,
deposits, and other forms of financial and technical assistance, during
a specified period.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development and Regulatory Improvement 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 more than $2.3 billion to CDFIs, community development
organizations, and financial institutions through the Community
Development Financial Institutions Program (CDFI Program), the Native
American CDFI Assistance Program (NACA Program), and the BEA Program.
In addition, the CDFI Fund has allocated $50.5 billion in tax credit
allocation authority to Community Development Entities through the New
Markets Tax Credit Program (NMTC Program), guaranteed bonds in the
total amount of $1.1 billion through the CDFI Bond Guarantee Program,
and awarded more than $171 million through the Capital Magnet Fund. The
BEA Program complements the community development activities of banks
and thrifts (collectively referred to as banks for purposes of this
NOFA) by providing financial incentives to expand investments in CDFIs
and to increase lending, investment, and Service Activities within
Distressed Communities. Providing monetary awards to banks for
increasing their community development activities leverages the CDFI
Fund's dollars and puts more capital to work in Distressed Communities
throughout the nation.
B. Authorizing Statutes and Regulations: The BEA Program was
authorized by the Bank Enterprise Award Act of 1991, as amended. The
regulations governing the BEA Program can be found at 12 CFR part 1806
(the Interim Rule). The Interim Rule provides the evaluation criteria
and other requirements of the BEA Program. Detailed BEA Program
requirements are also found in the application materials associated
with this NOFA (the

[[Page 45664]]

Application). The CDFI Fund encourages interested parties and
Applicants to review the authorizing statute, Interim Rule, this NOFA,
the Application, and the Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform
Requirements) for a complete understanding of the Program. Capitalized
terms in this NOFA are defined in the authorizing statute, the Interim
Rule, this NOFA, the Application, or the Uniform Requirements. Details
regarding Application content requirements are found in the Application
and related materials.
Application materials can be found on Grants.gov and the CDFI
Fund's Web site at www.cdfifund.gov/bea.
C. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR 200): The Uniform Administrative
Requirements codify financial, administrative, procurement, and program
management standards that Federal award-making agencies and Recipients
must follow. When evaluating award applications, awarding agencies must
evaluate the risks to the program posed by each applicant, and each
applicant's merits and eligibility. These requirements are designed to
ensure that applicants for Federal assistance receive a fair and
consistent review prior to an award decision. This review will assess
items such as the Applicant's financial stability, quality of
management systems, history of performance, and audit findings. In
addition, the Uniform Requirements include guidance on audit
requirements and other award requirements with which Recipients must
comply.
D. Priorities: Through the BEA Program, the CDFI Fund specifies the
following priorities:
1. Estimated Award Amounts: The award percentage used to derive the
estimated award amount for Applicants that are CDFIs is three times
greater than the award percentage used to derive the estimated award
amount for Applicants that are not CDFIs;
2. Priority Factors: Priority Factors will be assigned based on an
Applicant's asset size, as described in Section V. of this NOFA
(Application Review Information: Priority Factors); and
3. Priority of Awards: The CDFI Fund will rank Applicants in each
category of Qualified Activity according to the priorities described in
Section V.B. of this NOFA (Application Review Information: Award
Percentages, Award Amounts, Application Review Process, Selection
Process, Programmatic Financial Risk, and Application Rejection),
specifically parts V.B.2: Selection Process, V.B.3: Programmatic and
Financial Risk, and V.B.4: Persistent Poverty Counties.
E. Baseline Period and Assessment Period Dates: A BEA Program Award
is based on an Applicant's increase in Qualified Activities from the
Baseline Period to the Assessment Period, as reported on an individual
transaction basis in the Application. For the FY 2017 funding round,
the Baseline Period is calendar year 2015 (January 1, 2015 through
December 31, 2015), and the Assessment Period is calendar year 2016
(January 1, 2016 through December 31, 2016).
F. Funding Limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA. The CDFI Fund also reserves the right to
reallocate funds from the amount that is anticipated to be available
through this NOFA to other CDFI Fund programs, or to reallocate
remaining funds to a future BEA Program funding round, particularly if
the CDFI Fund determines that the number of awards made through this
NOFA is fewer than projected.
G. Persistent Poverty Counties: Pursuant to the Consolidated
Appropriations Act, 2017 (Pub. L. Number 115-3), Congress mandated that
at least ten percent of the CDFI Fund's appropriations be directed to
counties that meet the criteria for ``Persistent Poverty'' designation.
Persisent Poverty Counties (PPCs) are defined as any county that has
had 20 percent or more of its population living in poverty over the
past 30 years, as measured by the 1990 and 2000 decennial censuses, and
the most recent series of 5-year data available from the American
Community Survey from the Census Bureau. The tabular BEA Program
Eligibility Data which is located on the CDFI Fund's Web site has been
updated and now indicates whether a census tract also meets
``Persistent Poverty County'' criteria. Applicants that apply under
this NOFA will be required to indicate the minimum and maximum
percentage of the BEA Program Award that the Applicant will commit to
investing in PPCs.

II. Federal Award Information

A. Funding Availability: The CDFI Fund expects to award up to $23
million for the FY 2017 BEA Program Awards round under this NOFA. The
CDFI Fund reserves the right to award in excess of said funds under
this NOFA, provided that the appropriated funds are available. The CDFI
Fund reserves the right to impose a minimum or maximum award amount;
however, under no circumstances will an award be higher than $1 million
for any Recipient.
B. Types of Awards: BEA Program Awards are made in the form of
grants.
C. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2017 funding round
will begin in the spring of calendar year 2018. Specifically, the
period of performance begins on the Federal Award Date and will
conclude at least one (1) full year after the Federal Award Date as
further specified in the Award Agreement, during which the Recipient
must meet the performance goals set forth in the Award Agreement.
D. Eligible Activities: Eligible Activities for the BEA Program are
referred to as Qualified Activities and are defined in the Interim Rule
to include CDFI Related Activities, Distressed Community Financing
Activities, and Service Activities (12 CFR 1806.103).
CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and
CDFI Support Activities. CDFI Equity conists of Equity Investments,
Equity-Like Loans, and Grants. CDFI Support Activities includes Loans,
Deposits and Technical Assistance.
Distressed Community Financing Activities (12 CFR 1806.103) means
Consumer Loans and Commercial Loans and Investments. Consumer Loans
include Affordable Housing Loans; Education Loans; Home Improvement
Loans; and Small Dollar Consumer Loans. Commercial Loans and
Investments includes Affordable Housing Development Loans and related
Project Investments; Commercial Real Estate Loans and related Project
Investments; and Small Business Loans and related Project Investments.
Service Activities (12 CFR 1806.103) include Deposit Liabilities,
Financial Services, Community Services, Targeted Financial Services,
and Targeted Retail Savings/Investment Products.
When calculating BEA Program Award amounts, the CDFI Fund will only
consider the amount of a Qualified Activity that has been fully
disbursed or, in the case of a partially disbursed Qualified Activity,
will only consider the amount that an Applicant reasonably expects to
disburse for a Qualified Activity within 12 months from the end of the
Assessment Period. Subject to the requirements outlined in Section VI.
of this NOFA, in the case of Commercial Real Estate Loans and related
Project Investments, the total

[[Page 45665]]

principal amount of the transaction must be $10 million or less to be
considered a Qualified Activity. Notwithstanding the foregoing, the
CDFI Fund, in its sole discretion, may consider transactions with a
total principal value of over $10 million, subject to review.
An activity funded with prior BEA Program Award dollars, or funded
to satisfy requirements of an Award Agreement from a prior award, shall
not constitute a Qualified Activity for the purposes of calculating or
receiving an award.
E. Distressed Community: A Distressed Community must meet certain
minimum geographic area and eligibility requirements, which are defined
in the Interim Rule at 12 CFR 1806.103 and more fully described in 12
CFR 1806.401. Applicants should use the CDFI Fund's Information Mapping
System (CIMS Mapping Tool) to determine whether a Baseline Period
activity or Assessment Period activity is located in a qualified
Distressed Community. The CIMS Mapping Tool can be accessed through
AMIS or the CDFI Fund's Web site at https://www.cdfifund.gov/Pages/mapping-system.aspx. The CIMS Mapping Tool contains a step-by-step
training manual on how to use the tool. In addition, further
instructions to determine whether an activity is located in a qualified
BEA Distressed Community can be located at: https://www.cdfifund.gov/programs-training/Programs/bank_enterprise_award/Pages/apply-step.aspx#step1 when selecting the BEA Program Application CIMS3
Instructions document in the ``Application Materials'' section of the
Web page. If you have any questions or problems with accessing the CIMS
Mapping Tool, please contact the CDFI Fund IT Help Desk by telephone at
(202) 653-0300, by IT AMIS Service Request, or by email to
AMIS@cdfi.treas.gov.
Please note that a Distressed Community as defined by the BEA
Program is not the same as an Investment Area as defined by the CDFI
Program or a Low-Income Community as defined by the NMTC Program.
1. Designation of Distressed Community by a CDFI Partner: CDFI
Partners that receive CDFI Support Activities from an Applicant must be
integrally involved in a Distressed Community. CDFI Support Activities
include loans, Technical Assistance, or deposits provided to a CDFI
Partner. Applicants must provide evidence that each CDFI Partner that
is the recipient of CDFI Support Activities is integrally involved in a
Distressed Community, as noted in the Application. CDFI Partners that
receive Equity Investments, Equity-Like Loans or grants are not
required to demonstrate Integral Involvement. Additional information on
Integral Involvement can be found in Section V. of this NOFA.
2. Distressed Community Determination by a BEA Applicant:
Applicants applying for a BEA Program Award for performing Distressed
Community Financing Activities or Service Activities must verify that
addresses of both Baseline Period and Assessment Period activities are
in Distressed Communities when completing their Application.
A BEA Applicant shall determine an area is a Distressed Community
by:
a. Selecting a census tract where the Qualified Activity occurred
that meets the minimum area and eligibility requirements; or
b. selecting the census tract where the Qualified Activity
occurred, plus one or more census tracts directly contiguous to where
the Qualified Activity occurred that when considered in the aggregate,
meet the minimum area and eligibility requirements set forth in this
section.
F. Award Agreement: Each Recipient under this NOFA must
electronically sign an Award Agreement via AMIS prior to disbursement
by the CDFI Fund of the award proceeds. The Award Agreement contains
the terms and conditions of the award. For further information, see
Section VI. of this NOFA.
G. Use of Award: It is the policy of the CDFI Fund that BEA Program
Awards may not be used by Recipients to recover overhead or Indirect
Costs. The Recipient may use up to fifteen percent (15%) of the total
BEA Program award amount on Qualified Activities as Direct
Administrative Expenses. ``Direct Administrative Expenses'' shall mean
Direct Costs, as described in section 2 CFR 200.413 of the Uniform
Requirements, which are incurred by the Recipient to carry out the
Qualified Activities. Such costs must be able to be specifically
identified with the Qualified Activities and not also recovered as
Indirect Costs. ``Indirect Costs'' means costs or expenses defined in
accordance with section 2 CFR 200.56 of the Uniform Requirements. In
addition, the Recipient must comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-8303, with respect to any Direct
Costs.

III. Eligibility Information

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

Table 2--Eligibility Requirements for Applicants
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Eligible Applicants.................... Eligible Applicants for the BEA
Program must be Insured
Depository Institutions, as
defined in the Interim Rule.
For the FY 2017 funding round,
an Applicant must be FDIC-
insured as of December 31,
2016 to be eligible for
consideration for a BEA
Program Award under this NOFA.
The depository institution
holding company of an Insured
Depository Institution may not
apply on behalf of an Insured
Depository Institution.
Applications received from
depository institution holding
companies will be
disqualified.
CDFI Applicant......................... For the FY 2017 funding round,
an eligible certified-CDFI
Applicant is an Insured
Depository Institution that
was certified as a CDFI as of
December 31, 2016 and that
maintains its status as a
certified CDFI at the time BEA
Program Awards are announced
under this NOFA. No CDFI
Applicant may receive a FY
2017 BEA Program Award if it
has: (1) An application
pending for assistance under
the FY 2017 round of the CDFI
Program; (2) been awarded
assistance from the CDFI Fund
under the CDFI Program within
the 12-month period prior to
the Federal Award Date of the
FY 2017 Award Agreement issued
by the CDFI Program; or (3)
ever received assistance under
the CDFI Program for the same
activities for which it is
seeking a FY 2017 BEA Program
Award. Please note that
Applicants may apply for both
a CDFI Program award and a BEA
Program Award in FY 2017;
however, receiving a FY 2017
CDFI Program award removes an
Applicant from eligibility for
a FY 2017 BEA Program Award.
If an Applicant's CDFI
certification application was
submitted to the CDFI Fund as
of December 31, 2016 (the last
day of the assessment period),
but was ultimately approved by
the CDFI Fund prior to the
publication of the FY 2017
NOFA, then the Applicant's
CDFI status is considered
``certified'' for purposes of
the FY 2017 BEA application.
Debarment/Do Not Pay Verification...... The CDFI Fund will conduct a
debarment check and will not
consider an Application
submitted by an Applicant if
the Applicant is delinquent on
any Federal debt.

[[Page 45666]]

The Do Not Pay Business Center
was developed to support
Federal agencies in their
efforts to reduce the number
of improper payments made
through programs funded by the
Federal government. The Do Not
Pay Business Center provides
delinquency information to the
CDFI Fund to assist with the
debarment check.
------------------------------------------------------------------------

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

Table 3--Eligibility Requirements for Applicants Which Are Prior
Recipients
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Pending resolution of noncompliance.... If an Applicant that is a prior
recipient or allocatee under
any CDFI Fund program: (i) Has
submitted reports to the CDFI
Fund that demonstrate
noncompliance with a previous
assistance agreement, award
agreement, allocation
agreement, bond loan
agreement, or agreement to
guarantee and (ii) the CDFI
Fund has yet to make a final
determination as to whether
the entity is in default of
its previous agreement, the
CDFI Fund will consider the
Applicant's Application under
this NOFA pending full
resolution, in the sole
determination of the CDFI
Fund, of the noncompliance.
Default status......................... The CDFI Fund will not consider
an Application submitted by an
Applicant that is a prior CDFI
Fund award recipient or
allocatee under any CDFI Fund
program if, as of the
applicable Application
deadline of this NOFA, the
CDFI Fund has made a final
determination that such
Applicant is in default of a
previously executed assistance
agreement, award agreement,
allocation agreement, bond
loan agreement, or agreement
to guarantee.
Such entities will be
ineligible to apply for an
Award pursuant to this NOFA so
long as the Applicant's prior
award or allocation remains in
default status or such other
time period as specified by
the CDFI Fund in writing.
------------------------------------------------------------------------

C. Contact the CDFI Fund: Accordingly, Applicants that are prior
recipients and/or allocatees under any CDFI Fund program are advised to
comply with requirements specified in an assistance agreement, award
agreement, allocation agreement, bond loan agreement, or agreement to
guarantee. All outstanding reports and compliance questions should be
directed to the Certification, Compliance Monitoring and Evaluation
helpdesk by submitting a BEA Compliance and Reporting AMIS Service
Request or by telephone at (202) 653-0423. The CDFI Fund will respond
to Applicants' reporting, compliance, or disbursement questions between
the hours of 9:00 a.m. and 5:00 p.m. ET, starting on the date of the
publication of this NOFA. 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 November 28, 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
November 30, 2017, via an IT AMIS Service Request, email at
AMIS@cdfi.treas.gov, or by telephone at (202) 653-0422.
D. Cost sharing or matching fund requirements: Not applicable.

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials
can be found on Grants.gov and the CDFI Fund's Web site at
www.cdfifund.gov/bea. Applicants may request a paper version of any
Application material by contacting the CDFI Fund Help Desk at
cdfihelp@cdfi.treas.gov.
B. Content and Form of Application Submission: All Application
materials must be prepared using the English language and calculations
must be made in U.S. dollars. Applicants must submit all materials
described in and required by the Application by the applicable
deadlines. Detailed Application content requirements including
instructions related to the submission of the Grant Application Package
in Grants.gov and the FY 2017 BEA Program Application in AMIS, the CDFI
Fund's web-based portal, are provided in detail in the Application
Instructions. Once an Application is submitted, the Applicant will not
be allowed to change any element of the Application. The CDFI Fund
reserves the right to request and review other pertinent or public
information that has not been specifically requested in this NOFA or
the Application.
C. Application Submission: The CDFI Fund has a two-step submission
process for BEA Applications that requires the submission of required
application information on two separate deadlines and in two separate
and distinct systems, Grants.gov and the CDFI Fund's AMIS. The first
step is the submission of the Grant Application, which consists solely
of the Office of Management and Budget Standard Form-424 Mandatory (SF-
424 Mandatory) Application for Federal Assistance, in Grants.gov. The
second step is to sumbit an FY 2017 BEA Program Application in AMIS.
D. Grants.gov: Applicants must be registered with Grants.gov to
submit the Grants Application Package. The Grants Application Package
consists of one item, the SF-424 Mandatory. In order to register with
Grants.gov, Applicants must have a DUNS number and have an active
registration with SAM.gov. The CDFI Fund strongly encourages Applicants
to start the Grants.gov registration process as soon as possible (refer
to the following link: https://www.grants.gov/web/grants/register.html)
as it may take several weeks to complete. Applicants that have
previously registered with Grants.gov must verify that the registration
is current and active. Applicants should contact Grants.gov directly
with questions related to the registration or submission process as the
CDFI Fund does not administer or maintain this system. Applicants are
required to submit a Grant Application Package in Grants.gov and have
it validated by the Grants.gov submission deadline of November 16,
2017. The Grant Application Package is validated by

[[Page 45667]]

Grants.gov after the Applicant's initial submission and it may take
Grants.gov up to 48 hours to complete the validation process.
Therefore, the CDFI Fund encourages Applicants to submit the Grant
Application Package as early as possible. This will help to ensure that
the Grant Application Package is validated before the Grants.gov
submission deadline and provide time for Applicants to contact
Grants.gov directly to resolve any submission issues since the CDFI
Fund does not administer or maintain that system. For more information
about Grants.gov, please visit https://www.grants.gov and see Table 8
for Grants.gov contact information.
The CDFI Fund can only electronically retrieve validated Grant
Application Packages from Grants.gov and therefore only considers the
submission of the Grant Application Package to be successful when it
has been validated by Grants.gov before the submission deadline. It is
the Applicant's sole responsibility to ensure that its Grant
Application Package is submitted and validated by Grants.gov before the
submission deadline. Applicants that do not successfully submit their
Grant Application Package and have it validated by the Grants.gov by
the submission deadline will not be able to submit a FY 2017 BEA
Program Application in AMIS. The CDFI Fund will electronically retrieve
validated Grant Application Packages from Grants.gov on a daily basis.
Applicants are advised that it will take up to 48 hours from when the
CDFI Fund retrieves the validated Grant Application Package for it to
be available in AMIS to associate with a FY 2017 BEA Program
Application.
Once the CDFI Fund has retrieved the validated Grant Application
Package from Grants.gov and made it available in AMIS, Applicants must
associate it with their Application. Applicants can begin working on
their FY 2017 BEA Program Application in AMIS at any time, however,
they will not be able to submit the application until the validated
Grant Application Package is associated, by the Applicant, with the
application.
Applicants are advised that the CDFI Fund will not notify them when
the validated Grant Application Package has been retrieved from
Grants.gov or when it is available in AMIS. It is the Applicant's
responsibility to ensure that the validated SF-424 Mandatory is
associated with its FY 2017 BEA Application in AMIS. Applicants will
not be able to submit their FY 2017 BEA Program Application without
completing this step.
Applicants are advised that the lookup function in the FY 2017 BEA
Application in AMIS, uses the DUNS number reported on the validated
Grant Application Package to match it with the correct AMIS
Organization account. Therefore, Applicants must make sure the DUNS
number included in the Grant Application Package submitted in
Grants.gov matches the DUNS number in their AMIS Organization account.
If, for example, the DUNS number does not match because the Applicant
inadvertently used the DUNS number of their Bank Holding Company on the
Grant Application Package in Grants.gov and is attempting to associate
with AMIS Organization account of their FDIC-Insured Bank subsidiary,
the lookup function will not return any results and the Applicant will
not be able to submit the FY 2017 BEA Application.
Applicants are also highly encouraged to provide EIN, Authorized
Representative and/or Contact Person information on the Grant
Application Package that matches the information included in AMIS
Organization account.
E. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to
the Uniform Administrative Requirements, each Applicant must provide,
as part of its Application submission, a Dun and Bradstreet Universal
Numbering System (DUNS) number. Applicants without a DUNS number will
not be able to submit a Grant Application Package in Grants.gov.
Applicants should allow sufficient time for Dun & Bradstreet to respond
to inquiries and/or requests for DUNS numbers.
F. System for Award Management (SAM): An active SAM account is
required to submit the required Grant Application Package in
Grants.gov. Any entity applying for Federal grants or other forms of
Federal financial assistance through Grants.gov must be registered in
SAM in order to submit an Application. 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. Applicants are required to maintain a
current and active SAM account at all times during which it has an
active Federal award or an Application under consideration for an award
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 Grant Application Package in
Grants.gov, or FY 2017 BEA Program Application in AMIS by the
respective deadlines. Applicants must contact SAM directly with
questions related to SAM registration or account changes as the CDFI
Fund does not administer or maintain this system. For more information
about SAM, please visit https://www.sam.gov or call 866-606-8220.
G. AMIS: All Applicants must complete an FY 2017 BEA Program
Application in AMIS, the CDFI Fund's web-based portal. All Applicants
must register User and Organization accounts in AMIS by the applicable
Application deadline. Failure to register and complete a FY 2017 BEA
Program Application in AMIS will result in the CDFI Fund being unable
to accept the Application. As AMIS is the CDFI Fund's primary means of
communication with Applicants and Recipients, institutions must make
sure that they update their contact information in their AMIS accounts.
In addition, the Applicant should ensure that the institution
information (name, EIN, DUNS number, Authorized Representative, contact
information, etc.) on the Grant Application Package submitted as part
of the Grant Application Package in Grants.gov matches the information
in AMIS. EINs and DUNS numbers in the Applicant's SAM account must
match those listed in AMIS. For more information on AMIS, please see
the information available through the AMIS Home page at https://amis.cdfifund.gov. Qualified Activity documentation and other
attachments as specified in the applicable BEA Program Application must
also be submitted electronically via AMIS. Detailed instructions
regarding submission of Qualified Activity documentation is provided in
the Application Instructions. Applicants will not be allowed to submit
missing Qualified Activity documentation after the Application deadline
and any Qualified Activity missing the required documentation will be
disqualified. Qualified Activity documentation delivered by hard copy
to the CDFI Fund's Washington, DC office address will be rejected,
unless the Applicant previously requested a paper version of the
Application as described in Section IV.A.
H. Submission Dates and Times: The following table provides the
critical deadlines for the FY 2017 BEA Funding Round. Applications and
any other required documents or attachments received after the
applicable deadline will be rejected. The document submission deadlines
stated in this NOFA and the Application are strictly enforced. The CDFI
Fund will not grant

[[Page 45668]]

exceptions or waivers for late submissions except where the submission
delay was a direct result of a Federal government administrative or
technological error.

----------------------------------------------------------------------------------------------------------------
Description Deadline Time (Eastern Time)
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424
Mandatory.
Submission Method: Electronically via November 16, 2017.......... 11:59 p.m. ET.
Grants.gov.
FY 2017 BEA Program Application..........
Submission Method: Electronically via November 30, 2017.......... 5:00 p.m. ET.
AMIS.
----------------------------------------------------------------------------------------------------------------

1. Confirmation of Application Submission: Applicants may verify
that their Grant Application Package was successfully submitted and
validated in Grants.gov and that their FY 2017 BEA Program Application
was successfully submitted in AMIS. Applicants should note that the
Grant Application Package consists solely of the SF-424 Mandatory and
has a different deadline than the FY 2017 BEA Program Application.
These deadlines are provided above in Table 4. FY 2017 BEA Program
Funding Round Critical Deadlines for Applicants. If the Grant
Application Package is not successfully submitted and subsequently
validated by Grants.gov by the deadline, the CDFI Fund will not review
the FY 2017 BEA Program Application or any of the application related
material submitted in AMIS and the Application will be deemed
ineligible.
a. Grants.gov Submission Information: Each Applicant will receive
an email from Grants.gov immediately after the Grant Application
Package is submitted confirming that the submission has entered the
Grants.gov system. This email will contain a tracking number. Within 48
hours, the Applicant will receive a second email which will indicate if
the submitted Grant Application Package was successfully validated or
rejected with errors. However, Applicants should not rely on the second
email notification from Grants.gov to confirm that the Grant
Application Package was validated. Applicants are strongly encouraged
to use the tracking number provided in the first email to closely
monitor the status of their Grant Application Package. The Grant
Application Package cannot be retrieved by the CDFI Fund until it has
been validated by Grants.gov.
b. AMIS Submission Information: AMIS is the web-based portal where
Applicants will directly enter their application information and add
supporting documentation, when applicable. 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. Only the Authorized
Representative or an Application Point of Contact can submit the FY
2017 BEA Program Application in AMIS.
Applicants will not receive an email confirming that their FY 2017
BEA Program Application was successfully submitted in AMIS. Instead,
Applicants should check their AMIS account to ensure that the status of
the FY 2017 BEA Program Application shows ``Under Review.'' Step-by-
step instructions for submitting an FY 2017 BEA Program Application in
AMIS are provided in the Application Instructions, Supplemental
Guidance, and AMIS Application Manual.
2. Multiple Application Submissions: If an Applicant submits
multiple versions of its Grant Application Package in Grants.gov, the
Applicant can only associate one with its FY 2017 BEA Program
Application in AMIS.
Applicants can only submit one FY 2017 BEA Program 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 a submitted Application or allow multiple Application
submissions.
3. Late Submission: The CDFI Fund will not accept an Application
submitted after the Application deadline except where the submission
delay was a direct result of a Federal government administrative or
technological error. In such case, the Applicant must submit their
request for acceptance of a late Application submission to the BEA
Program Office via an AMIS Service Request with documentation that
clearly demonstrates the error by no later than two business days after
the applicable Application deadline for Grants.gov or AMIS. The CDFI
Fund will not respond to request for acceptance of late Application
submissions after that time period. The AMIS Service Request must be
directed to the BEA Program with a subject line of ``Late Application
Submission Request.''
I. Funding Restrictions: BEA Program Awards are limited by the
following:
1. The Recipient shall use BEA Program Award funds only for the
eligible activities described in Section II. D. of this NOFA and its
Award Agreement.
2. The Recipient may not distribute BEA Program Award funds to an
affiliate, Subsidiary, or any other entity, without the CDFI Fund's
prior written approval.
3. BEA Program Award funds shall only be disbursed to the
Recipient.
4. The CDFI Fund, in its sole discretion, may disburse BEA Program
Award funds in amounts, or under terms and conditions, which are
different from those requested by an Applicant.
J. Other Submission Requirements: None.

V. Application Review Information

A. Criteria: If the Applicant submitted a complete and eligible
Application, the CDFI Fund will conduct a substantive review in
accordance with the criteria and procedures described in the
Regulations, this NOFA, the Application guidance, and the Uniform
Requirements. The CDFI Fund reserves the right to contact the Applicant
by telephone, email, or mail for the sole purpose of clarifying or
confirming Application information. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or run the
risk that its Application will be rejected.
1. CDFI Related Activities: CDFI Related Activities include Equity
Investments, Equity-Like Loans, and CDFI Support Activities provided to
eligible CDFI Partners.
2. Eligible CDFI Partner: CDFI Partner is defined as a certified
CDFI that has been provided assistance in the form of CDFI Related
Activities by an unaffiliated Applicant (12 CFR 1806.103). For the
purposes of this NOFA, an eligible CDFI Partner must have been
certified as a CDFI as of the end of the applicable Assessment Period
and be Integrally Involved in a Distressed Community.
3. Integrally Involved: Integrally Involved is defined at 12 CFR
1806.103.

[[Page 45669]]

For purposes of this NOFA, for a CDFI Partner to be deemed to be
Integrally Involved, it must have: (i) Provided at least 10 percent of
financial transactions or dollars transacted (e.g., loans or Equity
Investments), or 10 percent of Development Service Activities (as
defined in 12 CFR 1805.104), in one or more Distressed Communities
identified by the Applicant or the CDFI Partner, as applicable, in each
of the three calendar years preceding the date of this NOFA; (ii)
transacted at least 25 percent of financial transactions (e.g., loans
or equity investments) in one or more Distressed Communities in at
least one of the three calendar years preceding the date of this NOFA;
or (iii) demonstrated that it has attained at least 10 percent of
market share for a particular financial product in one or more
Distressed Communities (such as home mortgages originated in one or
more Distressed Communities) in at least one of the three calendar
years preceding the date of this NOFA.
4. Limitations on eligible Qualified Activities provided to certain
CDFI Partners: A CDFI Applicant cannot receive credit for any financial
assistance or Qualified Activities provided to a CDFI Partner that is
also an FDIC-insured depository institution or depository institution
holding company.
5. Certificates of Deposit: Section 1806.103 of the Interim Rule
states that any certificate of deposit (CD) placed by an Applicant or
its Subsidiary in a CDFI Partner that is a bank, thrift, or credit
union must be: (i) Uninsured and committed for at least three years; or
(ii) insured, committed for a term of at least three years, and
provided at an interest rate that is materially below market rates, in
the determination of the CDFI Fund.
a. For purposes of this NOFA, ``materially below market interest
rate'' is defined as an annual percentage rate that does not exceed 100
percent of yields on Treasury securities at constant maturity as
interpolated by Treasury from the daily yield curve and available on
the Treasury Web site at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml. For example, for a three-year CD,
Applicants should use the three-year rate U.S. Government securities,
Treasury Yield Curve Rate posted for that business day. The Treasury
updates the Web site daily at approximately 5:30 p.m. ET. CDs placed
prior to that time may use the rate posted for the previous business
day. The annual percentage rate on a CD should be compounded daily,
quarterly, semi-annually, or annually. If a variable interest rate is
used, the CD must also have an interest rate that is materially below
the market interest rate over the life of the CD, in the determination
of the CDFI Fund.
b. For purposes of this NOFA, a deposit placed by an Applicant
directly with a CDFI Partner that participates in a deposit network or
service may be treated as eligible under this NOFA if it otherwise
meets the criteria for deposits in 12 CFR.1806.103 and the CDFI Partner
retains the full amount of the initial deposit or an amount equivalent
to the full amount of the initial deposit through a deposit network
exchange transaction.
6. Equity Investment: An Equity Investment means financial
assistance provided by an Applicant or its Subsidiary to a CDFI, which
CDFI meets such criteria as set forth in this NOFA, in the form of a
grant, a stock purchase, a purchase of a partnership interest, a
purchase of a limited liability company membership interest, or any
other investment deemed to be an Equity Investment by the CDFI Fund.
7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an
Applicant or its Subsidiary to a CDFI, and made on such terms that it
has characteristics of an Equity Investment, as such characteristics
may be specified by the CDFI Fund (12 CFR 1806.103). For purposes of
this NOFA, an Equity-Like Loan must meet the following characteristics:
a. At the end of the initial term, the loan must have a definite
rolling maturity date that is automatically extended on an annual basis
if the CDFI borrower continues to be financially sound and carry out a
community development mission;
b. Periodic payments of interest and/or principal may only be made
out of the CDFI borrower's available cash flow after satisfying all
other obligations;
c. Failure to pay principal or interest (except at maturity) will
not automatically result in a default of the loan agreement; and
d. The loan must be subordinated to all other debt except for other
Equity-Like Loans. Notwithstanding the foregoing, the CDFI Fund
reserves the right to determine, in its sole discretion and on a case-
by-case basis, whether an instrument meets the above-stated
characteristics of an Equity-Like Loan.
8. CDFI Support Activity: A CDFI Support Activity is defined as
assistance provided by an Applicant or its Subsidiary to a CDFI that is
Integrally Involved in a Distressed Community, in the form of a loan,
Technical Assistance, or deposits.
9. CDFI Program Matching Funds: Equity Investments, Equity-Like
Loans, and CDFI Support Activities (except Technical Assistance)
provided by a BEA Applicant to a CDFI and used by the CDFI for matching
funds under the CDFI Program are eligible as a Qualified Activity under
the CDFI Related Activity category.
10. Commercial Loans and Investments: Commercial Loans and
Investments is a sub-category of Distressed Community Financing
Activities and is defined as the following lending activity types:
Affordable Housing Development Loans and related Project Investments;
Commercial Real Estate Loans and related Project Investments; and Small
Business Loans and related Project Investments.
11. Consumer Loans: Consumer Loans is a sub-category of Distressed
Community Financing Activities and is defined as the following lending
activity types: Affordable Housing Loans; Education Loans; Home
Improvement Loans; and Small Dollar Consumer Loans.
12. Distressed Community Financing Activities and Service
Activities: Distressed Community Financing Activities comply with
consumer protection laws and are defined as (1) Consumer Loans; or (2)
Commercial Loans and Investments. In addition to the requirements set
forth in the Interim Rule, this NOFA provides the following additional
requirements:
a. Commercial Real Estate Loans and related Project Investments:
For purposes of this NOFA, eligible Commercial Real Estate Loans (12
CFR 1806.103) and related Project Investments are generally limited to
transactions with a total principal value of $10 million or less.
Notwithstanding the foregoing, the CDFI Fund, in its sole discretion,
may consider transactions with a total principal value of over $10
million, subject to review. For such transactions, Applicants must
provide a separate narrative, or other information, to demonstrate that
the proposed project offers, or significantly enhances the quality of,
a facility or service not currently provided to the Distressed
Community.
b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible
Small Dollar Consumer Loans are affordable loans that serve as
available alternatives to the marketplace for individuals who are
Eligible Residents with a total principal value between $500 and $5,000
and have a term of ninety (90) days or more.
c. Low- and Moderate-Income residents: For the purposes of this

[[Page 45670]]

NOFA, Low-Income means borrower income that does not exceed 80 percent
of the area median income, and Moderate-Income means borrower income
may be 81 percent to no more than 120 percent of the area median
income, according to the U.S. Census Bureau data.
13. Reporting Certain Financial Services: The CDFI Fund will value
the administrative cost of providing certain Financial Services using
the following per unit values:
a. $100.00 per account for Targeted Financial Services including
safe transaction accounts, youth transaction accounts, Electronic
Transfer Accounts and Individual Development Accounts;
b. $50.00 per account for checking and savings accounts that do not
meet the definition of Targeted Financial Services;
c. $5.00 per check cashing transaction;
d. $50,000 per new ATM installed at a location in a Distressed
Community;
e. $500,000 per new retail bank branch office opened in a
Distressed Community, including school-based bank branches approved by
the Applicant's Federal bank regulator;
f. In the case of Applicants engaging in Financial Services
activities not described above, the CDFI Fund will determine the unit
value of such services;
g. When reporting the opening of a new retail bank branch office,
the Applicant must certify that such new branch is intended to remain
in operation for at least the next five years;
h. Financial Service Activities must be provided by the Applicant
to Eligible Residents or enterprises that are located in a Distressed
Community. An Applicant may determine the number of Eligible Residents
who are recipients of Financial Services by either: (i) Collecting the
addresses of its Financial Services customers, or (ii) certifying that
the Applicant reasonably believes that such customers are Eligible
Residents or enterprises located in a Distressed Community and
providing a brief analytical narrative with information describing how
the Applicant made this determination. Citations must be provided for
external sources. In addition, if external sources are referenced in
the narrative, the Applicant must explain how it reached the conclusion
that the cited references are directly related to the Eligible
Residents or enterprises to whom it is claiming to have provided the
Financial Services; and
i. When reporting changes in the dollar amount of deposit accounts,
only calculate the net change in the total dollar amount of eligible
Deposit Liabilities between the Baseline Period and the Assessment
Period. Do not report each individual deposit. If the net change
between the Baseline Period and Assessment Period is a negative dollar
amount, then a negative dollar amount may be recorded for Deposit
Liabilities only. Instructions for determining the net change is
available in the Supplemental Guidance to the FY 2017 BEA Program
Application.
14. Priority Factors: Priority Factors are the numeric values
assigned to individual types of activity within: (i) The Distressed
Community Financing Activities, and (ii) Services Activities categories
of Qualified Activities. For the purposes of this NOFA, Priority
Factors will be based on the Applicant's asset size as of the end of
the Assessment Period (December 31, 2016) as reported by the Applicant
in the Application. Asset size classes (i.e., small institutions,
intermediate-small institutions, and large institutions) will
correspond to the Community Reinvestment Act (CRA) asset size classes
set by the three Federal bank regulatory agencies and that were
effective as of the end of the Assessment Period. The Priority Factor
works by multiplying the change in a Qualified Activity by the assigned
Priority Factor to achieve a ``weighted value.'' This weighted value of
the change would be multiplied by the applicable Award percentage to
yield the Award amount for that particular activity. For purposes of
this NOFA, the CDFI Fund is establishing Priority Factors based on
Applicant asset size to be applied to all activity within the
Distressed Community Financing Activities and Service Activities
categories only, as follows:

Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
Priority
factor
------------------------------------------------------------------------
Small institutions (assets of less than $304 million as of 12/ 5.0
31/2016)....................................................
Intermediate--small institutions (assets of at least $304 3.0
million but less than $1.2216 billion as of 12/31/2016).....
Large institutions (assets of $1.2216 billion or greater as 1.0
of 12/31/2016)..............................................
------------------------------------------------------------------------

15. Certain Limitations on Qualified Activities:
a. Low-Income Housing Tax Credits: Financial assistance provided by
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute
an Equity Investment, Project Investment, or other Qualified Activity,
for the purposes of calculating or receiving a BEA Program Award.
b. New Markets Tax Credits: Financial assistance provided by an
Applicant for which the Applicant receives benefits as an investor in a
Community Development Entity that has received an allocation of New
Markets Tax Credits, authorized pursuant to Section 45D of the Internal
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an
Equity Investment, Project Investment, or other Qualified Activity, for
the purposes of calculating or receiving a BEA Program Award. Leverage
loans used in New Markets Tax Credit structured transactions that meet
the requirements outlined in this NOFA are considered Distressed
Community Financing Activities. The application materials will provide
further guidance on requirements for BEA transactions which were
leverage loans used in a New Markets Tax Credit structured transaction.
c. Loan Renewals and Refinances: Financial assistance provided by
an Applicant shall not constitute a Qualified Activity, as defined in
this part, for the purposes of calculating or receiving a BEA Program
Award if such financial assistance consists of a loan to a borrower
that has matured and is then renewed by the Applicant, or consists of a
loan to a borrower that is retired or restructured using the proceeds
of a new commitment by the Applicant. Payoff of a separate third party
obligation will only be considered a Qualified Activity if the payoff
of a transaction is part of the sale of property or business to an
unaffiliated party to the borrower. Applicants should include a
narrative statement to describe any such transactions. Otherwise the
transaction will be disqualified.
d. Certain Business Types: Financial assistance provided by an
Applicant shall not constitute a Qualified Activity, as defined in this
part, for the purposes of financing the following business types: Adult
entertainment providers, golf courses, race tracks, gambling
facilities, country clubs, massage parlors, hot tub facilities, suntan
facilities, or stores where the principal business is the sale of
alcoholic beverages for consumption off premises.
e. Prior BEA Program Awards: Qualified Activities funded with prior
funding round BEA Program Award dollars or funded to satisfy
requirements of the BEA Program Award Agreement

[[Page 45671]]

shall not constitute a Qualified Activity for the purposes of
calculating or receiving a BEA Program Award.
f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA
Program Award for activities funded by another CDFI Fund program or
Federal program.
16. Award Percentages, Award Amounts, Application Review Process,
Selection Process, Programmatic and Financial Risk, and Application
Rejection: The Interim Rule and this NOFA describe the process for
selecting Applicants to receive a BEA Program Award and determining
Award amounts.
a. Award Percentages: In the CDFI Related Activities subcategory of
CDFI Equity, for all Applicants, the estimated award amount will be
equal to 18 percent of the increase in Qualified Activities reported in
this subcategory.
In the CDFI Related Activities subcategory of CDFI Support
Activities, for a certified CDFI Applicant, the estimated award amount
will be equal to 18 percent of the increase in Qualified Activities in
this subcategory. If an Applicant is not a certified CDFI, the
estimated award amount will be equal to 6 percent of the increase in
Qualified Activities in this subcategory.
In Distressed Community Financing Activities' subcategory of
Consumer Lending, the estimated award amount for certified CDFI
Applicants will be 18 percent of the weighted value of the increase in
Qualified Activities in this subcategory. If an Applicant is not a
certified CDFI Applicant, the estimated award amount will be equal to 6
percent of the weighted value of the increase in Qualified Activities
in this subcategory.
In Distressed Community Financing Activities' subcategory of
Commercial Lending and Investments, for a certified CDFI Applicant, the
estimated award amount will be equal to 9 percent of the weighted value
of the increase in Qualified Activities in this subcategory. If an
Applicant is not a certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity in this subcategory.
In the Service Activities category, for a certified CDFI Applicant,
the estimated award amount will be equal to 9 percent of the weighted
value of the increase in Qualified Activity for the category. If an
Applicant is not a certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity for the category.
b. Award Amounts: An Applicant's estimated award amount will be
calculated according to the procedure outlined in the Interim Rule (at
12 CFR 1806.403). As outlined in the Interim Rule at 12 CFR 1806.404,
the CDFI Fund will determine actual Award amounts based on the
availability of funds, increases in Qualified Activities from the
Baseline Period to the Assessment Period, and the priority ranking of
each Applicant. In calculating the increase in Qualified Activities,
the CDFI Fund will determine the eligibility of each transaction for
which an Applicant has applied for a BEA Program Award. In some cases,
the actual award amount calculated by the CDFI Fund may not be the same
as the estimated award amount requested by the Applicant.
For purposes of calculating award disbursement amounts, the CDFI
Fund will treat Qualified Activities with a total principal amount less
than or equal to $250,000 as fully disbursed. For all other Qualified
Activities, Recipients will have 12 months from the end of the
Assessment Period to make disbursements and 18 months from the end of
the Assessment Period to submit to the CDFI Fund disbursement requests
for the corresponding portion of their awards, after which the CDFI
Fund will rescind and de-obligate any outstanding award balance and
said outstanding award balance will no longer be available to the
Recipient.
B. Review and Selection Process:
1. Application Review Process: All Applications will be initially
evaluated by external non-Federal reviewers. Reviewers are selected
based on their experience in understanding various financial
transactions, reading and interpreting financial documentation, strong
written communication skills, and strong mathematical skills. Reviewers
must complete the CDFI Fund's conflict of interest process and be
approved by the CDFI Fund.
2. Selection Process: If the amount of funds available during the
funding round is insufficient for all estimated Award amounts,
Recipients will be selected based on the process described in the
Interim Rule at 12 CFR 1806.404. This process gives funding priority to
Applicants that undertake activities in the following order: (i) CDFI
Related Activities, (ii) Distressed Community Financing Activities, and
(iii) Service Activities, as described in the Interim Rule at 12 CFR
1806.404(c).
Within each category, CDFI Applicants will be ranked first
according to the ratio of the actual award amount calculated by the
CDFI Fund for the category to the total assets of the Applicant,
followed by Applicants that are not CDFI Applicants according to the
ratio of the actual award amount calculated by the CDFI Fund for the
category to the total assets of the Applicant.
Selections within each priority category will be based on the
Applicants' relative rankings within each such category, subject to the
availability of funds and any established maximum dollar amount of
total awards that may be awarded for the Distressed Community Financing
Activities category of Qualified Activities, as determined by the CDFI
Fund.
The CDFI Fund, in its sole discretion: (i) May adjust the estimated
award amount that an Applicant may receive; (ii) may establish a
maximum amount that may be awarded to an Applicant; and (iii) reserves
the right to limit the amount of an award to any Applicant if the CDFI
Fund deems it appropriate.
The CDFI Fund reserves the right to contact the Applicant to
confirm or clarify information. If contacted, the Applicant must
respond within the CDFI Fund's time parameters or the Application may
be rejected.
The CDFI Fund reserves the right to change its eligibility and
evaluation criteria and procedures. If those changes materially affect
the CDFI Fund's award decisions, the CDFI Fund will provide information
regarding the changes through the CDFI Fund's Web site.
3. Programmatic and Financial Risk: The CDFI Fund will consider
safety and soundness information from the appropriate Federal bank
regulatory agency as defined in Section 3 of the Federal Deposit
Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank
regulatory agency identifies safety and soundness concerns, the CDFI
Fund will assess whether the concerns cause or will cause the Applicant
to be incapable of completing the activities for which funding has been
requested. The CDFI Fund will not approve a BEA Program Award under any
circumstances for an Applicant if the appropriate Federal bank
regulatory agency indicates that the Applicant received a composite
rating of ``5'' on its most recent examination, performed in accordance
with the Uniform Financial Institutions Rating System.
Furthermore, the CDFI Fund will not approve a BEA Program Award for
an Applicant that has:
a. A CRA assessment rating of below ``Satisfactory'' on its most
recent examination;
b. a going concern opinion on its most recent audit;
c. a Prompt Corrective Action directive from its regulator that was
active at the time the Applicant submitted its Application to the CDFI

[[Page 45672]]

Fund or becomes active during the CDFI Fund's evaluation of the
Application.
Applicants and/or their appropriate Federal bank regulator agency
may be contacted by the CDFI Fund to provide additional information
related to Federal bank regulatory or CRA information.
The CDFI Fund will consider this information and may choose to not
approve a BEA Program Award for an Applicant if the information
indicates that the Applicant may be unable to responsibly manage, re-
invest, and/or report on a BEA Program Award during the performance
period.
4. Persistent Poverty Counties: Should the CDFI Fund determine,
upon analysis of the initial pool of BEA Program Award Recipients, that
it has not achieved the 10 percent PPC requirement mandated by
Congress, Award preference will be given to Applicants that committed
to deploying a minimum of 10 percent of their FY 2017 BEA Program Award
in PPCs. Applicants may be required to deploy more than the minimum
commitment percentage, but the percentage required should not exceed
the maximum commitment percentage provided in the Application.
Applicants that committed to serving PPCs and are selected to receive a
FY 2017 BEA Program award, will have their PPC commitment incorporated
into their Award Agreement as a Performance Goal which will be subject
to compliance and reporting requirements. No applicant, however, will
be disqualified from consideration for not making a PPC commitment in
its BEA Program Application.
5. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative error)
comes to the CDFI Fund's attention that either: Adversely affects an
Applicant's eligibility for an award; adversely affects the CDFI Fund's
evaluation or scoring of an Application; or indicates fraud or
mismanagement on the Applicant's part. If the CDFI Fund determines any
portion of the Application is incorrect in a material respect, the CDFI
Fund reserves the right, in its sole discretion, to reject the
Application. There is no right to appeal the CDFI Fund's award
decisions. The CDFI Fund's award decisions are final. The CDFI Fund
will not discuss the specifics of an Applicant's FY 2017 BEA Program
Application or provide reasons why an Applicant was not selected to
receive a BEA Program Award. The CDFI Fund will only respond to general
questions regarding the FY 2017 BEA Program Application and award
decision process until 30 days after the award announcement date.
C. Anticipated Announcement and Federal Award Dates: The CDFI Fund
anticipates making its FY 2017 BEA Program award announcement in the
spring of 2018. The Federal Award Date shall be the date that the CDFI
Fund executes the Award Agreement.

VI. Federal Award Administration Information

A. Federal Award Notices: The CDFI Fund will notify an Applicant of
its selection as a Recipient by delivering a notification or letter.
The Award Agreement will contain the general terms and conditions
governing the CDFI Fund's provision of an Award. The Award Recipient
will receive a copy of the Award Agreement via AMIS. The Recipient is
required to sign the Award Agreement via an electronic signature in
AMIS. The CDFI Fund will subsequently execute the Award Agreement. Each
Recipient must also ensure that complete and accurate banking
information is reflected in its SAM account at www.sam.gov in order to
receive its award payment.
B. Administrative and National Policy Requirements: If, prior to
entering into an Award Agreement, information (including an
administrative error) comes to the CDFI Fund's attention that adversely
affects: The 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, 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 the Recipient's certification status as a CDFI changes, the CDFI
Fund reserves the right, in its sole discretion, to re-calculate the
award, and modify the Award Agreement based on the Recipient's non-CDFI
status.
By executing an Award 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 Award Agreement that either
adversely affects the Recipient's eligibility for an award, or
adversely affects the CDFI Fund's evaluation of the 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 Award Agreement or take other
actions as it deems appropriate.
The CDFI Fund reserves the right, in its sole discretion, to
rescind an award if the Recipient fails to return the Award Agreement,
signed by the authorized representative of the Recipient, and/or
provide the CDFI Fund with any other requested documentation, within
the CDFI Fund's deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Award Agreement and the award
made under this NOFA for any criteria described in the following table:

Table 6--Criteria That May Result in Award Termination Prior to the
Execution of an Award Agreement
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Failure to meet reporting requirements. If an Applicant is a prior CDFI
Fund Recipient or allocatee
under any CDFI Fund program
and is not current on the
reporting requirements set
forth in the previously
executed assistance, award,
allocation, bond loan
agreement(s), or agreement to
guaranty, the CDFI Fund
reserves the right, in its
sole discretion, to delay
entering into an Award
Agreement and/or to delay
making a disbursement of Award
proceeds, until said prior
Recipient or allocatee is
current on the reporting
requirements in the previously
executed assistance, award,
allocation, bond loan
agreement(s), or agreement to
guaranty. Please note that
automated systems employed by
the CDFI Fund for receipt of
reports submitted
electronically typically
acknowledge only a report's
receipt; such acknowledgment
does not warrant that the
report received was complete
and therefore met reporting
requirements. If said prior
Recipient or allocatee is
unable to meet this
requirement within the
timeframe set by the CDFI
Fund, the CDFI Fund reserves
the right, in its sole
discretion, to terminate and
rescind the award made under
this NOFA.

[[Page 45673]]

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

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

Table 7--Reporting Requirements
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Single Audit Narrative Report (or For each year of its performance
like report). period, the Recipient must answer
in the Financial Report section in
AMIS, as to whether it is required
to have a single audit pursuant to
OMB Single Audit requirements.
Use of BEA Program Award Report-- Recipients must submit the Use of
for all Recipients. Award report to the CDFI Fund via
AMIS.
Use of BEA Program Award Report-- The CDFI Fund will require each
Funds Deployed in Persistent Recipient with Persistent Poverty
Poverty Counties. County commitments to report data
for Award funds deployed in
persistent poverty counties and
maintain proper supporting
documentation and records which are
subject to review by the CDFI
Fund's Certification, Compliance
Monitoring, and Evaluation unit.
Explanation of Noncompliance (as If the Recipient fails to meet a
applicable) or successor report. Performance Goal or reporting
requirement, it must submit the
Explanation of Noncompliance via
AMIS.
------------------------------------------------------------------------

[[Page 45674]]

Each Recipient is responsible for the timely and complete
submission of the reporting requirements. The CDFI Fund reserves the
right to contact the Recipient to request additional information and
documentation. The CDFI Fund may consider financial information filed
with Federal regulators during its compliance review. The CDFI Fund
will use such information to monitor each Recipient's compliance with
the requirements in the Award Agreement and to assess the impact of the
BEA Program. The CDFI Fund reserves the right, in its sole discretion,
to modify these reporting requirements if it determines it to be
appropriate and necessary; however, such reporting requirements will be
modified only after notice has been provided to Recipients.
E. 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 award. These systems must be sufficient to permit the
preparation of reports required by general and program specific terms
and conditions, including the tracing of funds to a level of
expenditures adequate to establish that such funds have been used
according to the Federal statutes, regulations, and the terms and
conditions of the award. Each of the Qualified Activities categories
will be ineligible for indirect costs and an associated indirect cost
rate. The cost principles used by Recipients must be consistent with
Federal cost principles and support the accumulation of costs as
required by the principles, and must provide for adequate documentation
to support costs charged to the BEA Program Award. In addition, the
CDFI Fund will require Recipients to: Maintain effective internal
controls; comply with applicable statutes, regulations, and the Award
Agreement; evaluate and monitor compliance; take action when not in
compliance; and safeguard personally identifiable information.

VII. Federal Awarding Agency Contacts

A. Questions Related to Application and Prior Recipient Reporting,
Compliance and Disbursements: The CDFI Fund will respond to questions
concerning this NOFA, the Application and reporting, compliance, or
disbursements between the hours of 9:00 a.m. and 5:00 p.m. Eastern
Time, starting on the date that this NOFA is published through the date
listed in Table 1. The CDFI Fund will post responses to frequently
asked questions in a separate document on its Web site. Other
information regarding the CDFI Fund and its programs may be obtained
from the CDFI Fund's Web site at https://www.cdfifund.gov.
The following table lists contact information for the CDFI Fund,
Grants.gov and SAM:

Table 8--Contact Information
------------------------------------------------------------------------
Telephone
Type of question number (not Electronic contact
toll free) method
------------------------------------------------------------------------
BEA Program.................... 202-653-0421 BEA AMIS Service
Request.
Certification, Compliance 202-653-0423 BEA Compliance and
Monitoring, and Evaluation. Reporting AMIS Service
Request.
AMIS--IT Help Desk............. 202-653-0422 IT AMIS Service
Request.
Grants.gov Help Desk........... 800-518-4726 support@grants.gov.
SAM.gov (Federal Service Desk). 866-606-8220 Web form via https://www.fsd.gov/fsd-gov/login.do.
------------------------------------------------------------------------

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

VIII. Other Information

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

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

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2017-20922 Filed 9-28-17; 8:45 am]
BILLING CODE 4810-70-P

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