Community Development Financial Institutions Fund, 4750-4770 [2018-01997]

Download as PDF 4750 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices need to provide certain Application information otherwise required. Pursuant to the Paperwork Reduction Act, the CDFI Program, and NACA Program Application has been assigned the following control number: 1559– 0021. The DF–FA questions have been assigned the following control number: 1559–New. B. Application Information Sessions: The CDFI Fund may conduct webinars or host information sessions for organizations that are considering applying to, or are interested in learning about, the CDFI Fund’s programs. For further information, visit the CDFI Fund’s website at https:// www.cdfifund.gov. Authority: 2 U.S.C. 4701, et seq.; 12 CFR parts 1805 and 1815; 2 CFR part 200. Mary Ann Donovan, Director, Community Development Financial Institutions Fund . [FR Doc. 2018–01998 Filed 1–31–18; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund (TA) grants under the Community Development Financial Institutions Program (CDFI Program) fiscal year (FY) 2018 Funding Round. Announcement Type: Announcement of funding opportunity. Funding Opportunity Number: CDFI– 2018–FATA. Catalog of Federal Domestic Assistance (CFDA) Number: 21.020. Dates: Funding Opportunity Title: Notice of Funds Availability (NOFA) inviting Applications for Financial Assistance (FA) awards or Technical Assistance TABLE 1—FY 2018 CDFI PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Deadline Time (eastern time—ET) Submission method Last day to contact Certification, Compliance Monitoring and Evaluation (CCME) staff regarding CDFI Certification. CDFI certification applications .......................... Create AMIS Account (New Applicants) .......... SF424 (Application for Federal Assistance) .... Last day to contact CDFI Program staff .......... February 28, 2018 ...... 11:59 p.m. .................. Service Request via Award Management Information System (AMIS). March 2, 2018 ............ March 2, 2018 ............ March 2, 2018 ............ April 2, 2018 ............... 11:59 p.m. .................. 11:59 p.m. .................. 11:59 p.m. .................. 5:00 p.m. .................... CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA). April 4, 2018 ............... 11:59 p.m. .................. Electronically via AMIS. AMIS. Electronically via Grants.gov. Service Request via AMIS Or CDFI Fund Helpdesk: 202–653–0421. AMIS. Executive Summary: Through the CDFI Program, the CDFI Fund provides (i) FA awards of up to $1 million to Certified Community Development Financial Institutions (CDFIs) to build their financial capacity to lend to their Target Markets, and (ii) TA grants of up to $125,000 to build Certified, Certifiable, and Emerging CDFIs’ organizational capacity to serve their Target Markets. All awards provided through this NOFA are subject to funding availability. sradovich on DSK3GMQ082PROD with NOTICES Description Fund has allocated more than $50.5 billion in tax credit allocation authority through the New Markets Tax Credit Program (NMTC Program) and has guaranteed $1.36 billion in bonds for Eligible CDFIs through the CDFI Bond Guarantee Program. B. Priorities: Through the CDFI Program’s FA awards and TA grants, the CDFI Fund invests in and builds the capacity of for-profit and non-profit community based lending organizations known as CDFIs. These organizations, certified as CDFIs by the CDFI Fund, serve rural and urban low-income people, and communities across the nation that lack adequate access to affordable financial products and services. C. Authorizing Statutes and Regulations: The CDFI Program is authorized by the Riegle Community Development Banking and Financial Institutions Act of 1994 (Pub. L. 103– 325, 12 U.S.C. 4701 et seq.). The regulations governing the CDFI Program are found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth evaluation criteria and other program requirements. The CDFI Fund encourages Applicants to review the Regulations; this NOFA; the Application; and the Uniform Administrative Requirements, Cost I. Program Description A. History: The CDFI Fund was established by the Riegle Community Development Banking and Financial Institutions Act of 1994 to promote economic revitalization and community development through investment in and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has awarded more than $2.5 billion to CDFIs, community development organizations, and financial institutions through the Community Development Financial Institutions Program (CDFI Program), the Native American CDFI Assistance Program (NACA Program), the Bank Enterprise Award Program (BEA Program), the Capital Magnet Fund, and the Financial Education and Counseling Pilot Program. In addition, the CDFI VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 Principles, and Audit Requirements for Federal Awards (2 CFR 200; 78 Federal Register 78590) (the Uniform Requirements) for a complete understanding of the program. Capitalized terms in this NOFA are defined in the authorizing statute, the Regulations, this NOFA, the Application, or the Uniform Requirements. Details regarding Application content requirements are found in the Application and related materials. D. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR 200): The Uniform Requirements codify financial, administrative, procurement, and program management standards that Federal award agencies 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, the soundness of its business plan, history of performance, ability to achieve measurable impacts through its E:\FR\FM\01FEN1.SGM 01FEN1 4751 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices products and services, and audit findings. In addition, the Uniform Requirements include guidance on audit requirements and other award compliance requirements for Recipients. E. Funding Limitations: The CDFI Fund reserves the right to fund, in whole or in part, any, all, or none of the Applications submitted in response to this NOFA. II. Federal Award Information A. Funding Availability 1. FY 2018 Funding Round: The CDFI Fund expects to award, through this NOFA, approximately $183.5 million as indicated in the following table: TABLE 2—FY 2018 FUNDING ROUND ANTICIPATED CATEGORY AMOUNTS Funding categories (see definition in Table 7 for TA or Table 8 for FA) Award amount Estimated total amount to be awarded (millions) FA: Category I/Small and/or Emerging CDFI Assistance (SECA) ..................... FA: Category II/Core ................................ Persistent Poverty Counties—Financial Assistance (PPC–FA) ........................... Disability Funds—Financial Assistance (DF–FA)* .............................................. TA ............................................................. Healthy Food Financing Initiative—Financial Assistance (HFFI–FA) * ................. Minimum Maximum Estimated number of awards for FY 2018 Estimate average amount awarded in FY 2018 Average amount awarded in FY 2017 $19 117.6 $700,000 1,000,000 40 160 $475,000 735,000 $478,000 810,000 18.4 100,000 300,000 100 184,000 210,000 2.5 4 100,000 10,000 500,000 125,000 10 35 250,000 114,000 N/A 116,000 22 500,000 5,000,000 10 2,200,000 1,700,000 183.5 Total .................................................. $200,000 500,000 ........................ ........................ 355 ........................ ........................ sradovich on DSK3GMQ082PROD with NOTICES * DF–FA and HFFI–FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs. The CDFI Fund reserves the right to award more or less than the amounts cited above in each category, based upon available funding and other factors, as appropriate. 2. Funding Availability for the FY 2018 Funding Round: Funds for the FY 2018 Funding Round are subject to change based on passage of a final FY 2018 budget; if Congress does not appropriate funds for the CDFI Program there will not be an FY 2018 Funding Round. If funds are appropriated, the amount of such funds may be greater or less than the amounts set forth above. The CDFI Fund reserves the right to contact applicants to seek additional information in the event that final FY 2018 appropriations for the CDFI Program change any of the requirements of this NOFA. As of the date of this NOFA, the CDFI Fund is operating under a continuing funding resolution as enacted by the Extension of the Continuing Appropriations Act, 2018 (Pub. L. 115–120) and Supplemental Appropriations for Disaster Relief Requirements Act, 2017 (Pub. L. 115– 56). 3. Anticipated Start Date and Period of Performance: The CDFI Fund anticipates the period of performance for the FY 2018 Funding Round will begin in late September 2018. Specifically, the period of performance for TA grants begins with the date of the notice of the award and includes either (i) an Emerging or Certifiable CDFI Recipient’s three full consecutive fiscal years after the date of the notice of the VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 award or (ii) a Certified CDFI Recipient’s two full consecutive fiscal years after the date of the award announcement, during which the Recipient must meet the performance goals set forth in the Assistance Agreement. The period of performance for FA awards begins with the date of the award announcement and includes a Recipient’s three full consecutive fiscal years after the date of the notice of the award, during which time the Recipient must meet the performance goals set forth in the Assistance Agreement. B. Types of Awards: Through the CDFI Program, the CDFI Fund provides two types of awards: Financial Assistance (FA) and Technical Assistance (TA) awards. An Applicant may submit an Application for a TA grant or an FA award, but not both. 1. FA Awards: FA awards can be in the form of loans, grants, Equity Investments, deposits and credit union shares. The form of the FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide an FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 award request as stated in its Application. 2. Persistent Poverty Counties— Financial Assistance (PPC–FA) Awards: PPC–FA awards will be provided as a supplement to FA awards; therefore, only those Applicants that are selected to receive an FA award through the CDFI Program FY 2018 Funding Round will be eligible to receive a PPC–FA award. PPC–FA awards can be in the form of loans, grants, Equity Investment, deposits and credit union shares. The form of the PPC–FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for PPC–FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide a PPC–FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its Application. The PPC–FA award is evaluated independently from the FA award and will not affect the FA award evaluation or amount. 3. Disability Funds—Financial Assistance (DF–FA) Awards: DF–FA awards will be provided as a supplement to FA awards; therefore, only those Applicants that have been selected to receive an FA award through the CDFI Program FY 2018 Funding E:\FR\FM\01FEN1.SGM 01FEN1 4752 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices Round will be eligible to receive a DF– FA award. DF–FA awards can be in the form of loans, grants, Equity Investments, deposits and credit union shares. The form of the DF–FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for DF–FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide a DF–FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its Application. The DF–FA award is evaluated independently from the FA award and will not affect the FA award evaluation or amount. 4. Healthy Food Financing Initiative— Financial Assistance (HFFI–FA) Awards: HFFI–FA awards will be provided as a supplement to FA awards; therefore, only those Applicants that have been selected to receive an FA award through the CDFI Program FY 2018 Funding Round will be eligible to receive an HFFI–FA award. HFFI–FA awards can be in the form of loans, grants, Equity Investments, deposits and credit union shares. The form of the HFFI–FA award is based on the form of the matching funds that the Applicant includes in its Application, unless Congress waives the matching funds requirement. Matching funds are required for HFFI–FA awards, must be from non-Federal sources, and cannot have been used as matching funds for any other Federal award. The CDFI Fund reserves the right, in its sole discretion, to provide an HFFI–FA award in an amount other than that which the Applicant requests; however, the award amount will not exceed the Applicant’s award request as stated in its Application. The HFFI–FA award is evaluated independently from the FA award and will not affect the FA award evaluation or amount. 5. TA Grants: TA is provided in the form of grants. The CDFI Fund reserves the right, in its sole discretion, to provide a TA grant in an amount other than which the Applicant requests; however, the TA grant amount will not exceed the Applicant’s request as stated in its Application. C. Eligible Activities: 1. FA Awards: FA, PPC–FA, DF–FA, and HFFI–FA award funds can be expended for activities serving Commercial Real Estate, Small Business, Microenterprise, Community Facilities, Consumer Financial Products, Consumer Financial Services, Commercial Financial Services, Affordable Housing, Intermediary Lending to Non-Profits and CDFIs, and other lines of business as deemed appropriate by the CDFI Fund in the following five categories: (i) Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves; (iv) Development Services; and (v) Capital Reserves. FA Recipients must meet Performance Goals, which will be derived from projections and attestations provided by the Applicant in its application, to achieve one or more of the following FA Objectives: (i) Increase Volume of Financial Products or Financial Services in an Eligible Market(s) or in the Applicant’s approved Target Market; (ii) Serve New Geographic Area or Areas; (iii) Provide New Financial Products in an Eligible Market(s) or in the Applicant’s approved Target Market, New Financial Services in an Eligible Market(s) or in the Applicant’s approved Target Market, or New Development Services in an Eligible Market(s) or in the Applicant’s approved Target Market; and (iv) Serve New Targeted Population or Populations. FA awards can only be used for Direct Costs associated with an eligible activity; no indirect expenses are allowed. Up to 15 percent of the FA award can be used for Direct Administrative Expenses associated with an eligible FA activity. ‘‘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 Financial Assistance. Direct Costs incurred to provide Development Services or Financial Services do not constitute Direct Administrative Expenses. 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. For purposes of this NOFA, the five eligible activity categories are defined as follows: TABLE 3—FA, PPC–FA, DF–FA, AND HFFI–FA ELIGIBLE ACTIVITY CATEGORIES FA eligible activity FA Eligible activity definition—All FA Eligible activities must be in an eligible market or the applicant’s approved target market i. Financial Products ........................ FA expended as loans, Equity Investments and similar financing activities (as determined by the CDFI Fund) including the purchase of loans originated by certified CDFIs and the provision of loan guarantees; in the case of CDFI Intermediaries, Financial Products may also include loans to CDFIs and/or emerging CDFIs and deposits in Insured Credit Union CDFIs, emerging Insured Credit Union CDFIs, and/or State-Insured Credit Union CDFIs. For HFFI–FA, however, the purchase of loans originated by certified CDFIs is not an Eligible Activity. FA expended for providing checking, savings accounts, check cashing, money orders, certified checks, deposit taking, safe deposit box services, and other similar services. ii. Financial Services ....................... sradovich on DSK3GMQ082PROD with NOTICES iii. Loan Loss Reserves ................... iv. Development Services ............... VerDate Sep<11>2014 19:34 Jan 31, 2018 FA set aside in the form of cash reserves, or through accountingbased accrual reserves, to cover losses on loans, accounts, and notes receivable or for related purposes that the CDFI Fund deems appropriate. FA expended for activities undertaken by a CDFI, its Affiliate or contractor that promote community development and shall prepare or assist current or potential borrowers or investees to use the CDFI’s Financial Products or Financial Services. For example, such activities include, financial or credit counseling; homeownership counseling; and business planning and management assistance. Jkt 244001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM Eligible CDFI institution types All. Insured Depository Institutions and Depository Institution Holding Company only. Not applicable for HFFI–FA Recipients. All. All. 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4753 TABLE 3—FA, PPC–FA, DF–FA, AND HFFI–FA ELIGIBLE ACTIVITY CATEGORIES—Continued FA eligible activity FA Eligible activity definition—All FA Eligible activities must be in an eligible market or the applicant’s approved target market Eligible CDFI institution types v. Capital Reserves ......................... FA set aside as reserves to support the Applicant’s ability to leverage other capital, for such purposes as increasing its net assets or providing financing, or for related purposes as the CDFI Fund deems appropriate. Insured Depository Institutions and Depository Institution Holding Company only. Not applicable for DF–FA. Eligible Market is defined as (i) a geographic area meeting the requirements set forth in 12 CFR 1805.201(b)(3)(ii), or (ii) individuals that are Low-Income or are African American, Hispanic or American Indian, Native Hawaiians residing in Hawaii, Native Alaskans residing in Alaska, and Other Pacific Islanders residing in American Samoa, Guam or the Northern Mariana Islands. 2. DF–FA Award: DF–FA award funds can only be expended for eligible FA activities referenced in Table 3 to directly or indirectly benefit individuals with disabilities. The DF–FA Recipient must close Financial Products for the primary purpose of directly or indirectly benefiting people with disabilities in an amount equal to or greater than 85 percent of the total DF–FA provided. Such financing activities have a primary purpose of directly or indirectly benefiting individuals with disabilities where the majority of the DF–FA supported loans or investments benefit individuals with disabilities. Eligible DF–FA financing activities may include, among other activities, loans to develop or purchase affordable, accessible, and safe housing; loans to provide or facilitate employment opportunities; and loans to purchase assistive technology. For the purposes of DF- FA, a person with a Disability is: A person who has a physical or mental impairment that substantially limits one or more major life activities, a person who has a history or record of such an impairment, or a person who is perceived by others as having such an impairment, as defined by the American Disabilities Act (ADA) at https://www.ada.gov/ cguide.htm. 3. TA Grants: TA grant funds can be expended for the following seven eligible activity categories: (i) Compensation—personnel services; (ii) Compensation—fringe benefits; (iii) Professional Service Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment and other capital expenditures; and (vii) Supplies. Each of the eligible activity categories will not be authorized for indirect costs or an associated indirect cost rate. 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. For purposes of this NOFA, the seven eligible activity categories are defined as follows: TABLE 4—TA ELIGIBLE ACTIVITY CATEGORIES AS SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS (i) Compensation—personnel services. (ii) Compensation—fringe benefits .. (iii) Professional service costs ........ (iv) Travel costs ............................... (v) Training and education costs .... sradovich on DSK3GMQ082PROD with NOTICES (vi) Equipment ................................. (vii) Supplies .................................... VerDate Sep<11>2014 19:34 Jan 31, 2018 TA paid to cover salaries of the Applicant’s personnel that are paid currently or accrued by the Applicant for work performed directly related to carrying out the purpose of the TA grant (including activities related to becoming certified as a CDFI). Any work performed directly but unrelated to the purposes of the TA grant cannot be paid as Compensation through a TA grant. For example, the salaries for building maintenance would not carry out the purpose of a TA grant and would be deemed unallowable. TA paid to cover costs of the Applicant’s personnel employment (other than the employees’ salaries). The costs of fringe benefits are allowable provided that the benefits are reasonable and are required by law, non-Federal entity-employee agreement, or an established policy of the non-Federal entity and consistently applied organizational policies. TA used to pay for professional and consultant services (e.g. such as strategic and marketing plan development), rendered by persons who are members of a particular profession or possess a special skill (e.g. credit analysis, portfolio management), and who are not officers or employees of the Recipient. Payment for a consultant’s services may not exceed the current maximum of the daily equivalent rate paid to an Executive Schedule Level IV Federal employee. Professional and consultant services must build the capacity of the CDFI. For example, professional services that provide direct development services to the customers does not build the capacity of the CDFI to provide those services and would not be eligible. TA used to pay expenses for transportation, lodging, subsistence, and related items incurred by the Applicant’s personnel (does not include consultants or board members) who are on travel status on business related to the TA grant. Any payments for travel expenses incurred by the Applicant’s personnel but unrelated to carrying out the purpose of the TA grant would be deemed unallowable. As such, documentation must be maintained that justifies the travel as necessary to the TA grant. TA used to pay the cost of training and education provided for employee development. TA can only be used to pay for training costs incurred by the Applicant’s personnel (does not include consultants or board members). TA used to pay for tangible personal property, having a useful life of more than one year and a per-unit acquisition cost of at least $5,000. For example, items such as office furnishings and information technology systems are allowable as Equipment costs. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303 with respect to the purchase of Equipment. TA used to pay for tangible personal property with a per unit acquisition cost of less than $5,000. For example, a desktop computer costing $1,000 is allowable as a Supply cost. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303 with respect to the purchase of Supplies. Jkt 244001 PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 4754 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 4—TA ELIGIBLE ACTIVITY CATEGORIES AS SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS—Continued (viii) Unallowable Costs ................... The following costs are unallowable and cannot be paid for with a TA grant (but not limited to per the UAR): • Selling or marketing products or services of the non-federal entity that are not directly related to building the capacity of the CDFI • Advertising media, including printing of materials, the cost of displays, demonstrations, and exhibits that are not directly related to building the capacity of the CDFI • Promotional items and memorabilia • Advertising and public relations designed solely to promote the non-Federal entity that are not directly related to building the capacity of the CDFI • Facilities acquisition/development costs • Fees, including fees paid to brokers, promoters, organizers, management consultants, attorneys, accountants, or investment counselor • Memberships in country clubs or organizations whose primary purpose is lobbying • Audit costs for audits either: (1) Required under the Single Audit Act but have not been conducted or have been conducted but not in accordance with the Single Audit Act requirements; or (2) for a non-Federal entity that is exempted from having an audit conducted in the Single Audit act sradovich on DSK3GMQ082PROD with NOTICES 4. HFFI–FA Award: HFFI–FA award funds can only be expended for eligible FA activities referenced in Table 3. The HFFI–FA investments must comply with the following guidelines: a. Recipient must close Financial Products for Healthy Food Retail Outlets and Healthy Food Non-Retail Outlets in its Target Market in an amount equal to or greater than 100 percent of the total HFFI Financial Assistance provided. Eligible financing activities to Healthy Food Retail Outlets and Healthy Food Non-Retail Outlets require that the majority of the loan or investment be devoted to offering a range of Healthy Food choice, which may include, among other activities, investments supporting an existing retail store or wholesale operation upgrade to offer an expanded range of Healthy Food choices, or supporting a nonprofit organization that expands the availability of Healthy Foods in underserved areas. b. Recipient must demonstrate that it has closed Financial Products to Healthy Food Retail Outlets located in Food Deserts in the Recipient’s Target Market in an amount equal to 75% of the total HFFI Financial Assistance provided. Definitions Healthy Foods. Healthy Foods include unprepared nutrient-dense foods and beverages as set forth in the USDA Dietary Guidelines for Americans 2015– 2020 including whole fruits and vegetables, whole grains, fat free or lowfat dairy foods, lean meats and poultry (fresh, refrigerated, frozen or canned). Healthy Foods should have low or no added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 USDA Dietary Guidelines: https:// www.choosemyplate.gov/dietaryguidelines.) Healthy Food Retail Outlets. Commercial sellers of Healthy Foods including, but not limited to, grocery stores, mobile food retailers, farmers markets, retail cooperatives, corner stores, bodegas, stores that sell other food and non-food items along with a range of Healthy Foods, as those terms are determined and defined by the CDFI Fund in the Assistance Agreement and related compliance materials. Healthy Food Non-Retail Outlets. Wholesalers of Healthy Foods including, but not limited to, wholesale food outlets, wholesale cooperatives, or other non-retail food producers that supply for sale a range of Healthy Food options; entities that produce or distribute Healthy Foods for eventual retail sale, and entities that provide consumer education regarding the consumption of Healthy Foods, as those terms are determined and defined by the CDFI Fund in the Assistance Agreement and related compliance materials. Food Deserts. Distressed geographic areas where either a substantial number or share of residents has low access to a supermarket or large grocery store. For the purpose of satisfying this requirement, a Food Desert must either: (1) Be a census tract determined to be a Food Desert by the U.S. Department of Agriculture (USDA), in its USDA Food Access Research Atlas; (2) be a census tract adjacent to a census tract determined to be a Food Desert by the USDA, in its USDA Food Access Research Atlas; which has a median family income less than or equal to 120 percent of the applicable Area Median PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 Family Income; or (3) be a Geographic Unit as defined in 12 CFR part 1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been identified as having low access to a supermarket or grocery store through a methodology that has been adopted for use by another governmental or philanthropic healthy food initiative. 5. PPC–FA Award: PPC–FA award funds can only be expended for eligible FA activities referenced in Table 3. The PPC–FA Recipient must close Financial Products to an Eligible Market or in the Applicant’s approved Target Market in a Persistent Poverty Counties (PPC) in an amount equal to or greater than 100 percent of the total PPC Financial Assistance provided. The specific counties that meet the criteria for ‘‘persistent poverty’’ can be found at: https://www.cdfifund.gov/Documents/ Persistent%20Poverty%20 Counties%20CDFI%20Fund%20July62017.xlsx. III. Eligibility Information A. Eligible Applicants: For the purposes of this NOFA, the following tables set forth the eligibility criteria to be in contention to receive an award from the CDFI Fund, along with certain definitions of terms. There are four categories of Applicant eligibility criteria: (1) CDFI certification criteria (Table 5); (2) requirements that apply to all Applicants (Table 6); (3) requirements that apply to TA Applicants (Table 7); and (4) requirements that apply to FA Applicants (Table 8). E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4755 TABLE 5—CDFI CERTIFICATION CRITERIA DEFINITIONS Certified CDFI ................................. Certifiable CDFI ............................... Emerging CDFI (TA Applicants) ..... • An entity that the CDFI Fund has officially notified that it meets all CDFI certification requirements. • An entity that has submitted a CDFI certification application to the CDFI Fund demonstrating that it meets the CDFI certification requirements but which has not yet been officially certified. (See Table 12 for application submission deadlines.) • The CDFI Fund will not enter into an Assistance Agreement or make an FA award payment unless and until an Applicant is a Certified CDFI. • The CDFI Fund will enter into an Assistance Agreement if the Applicant is awarded a TA award regardless of the Applicant’s certification status. • A non-Certified entity that has not submitted a CDFI certification application but demonstrates to the CDFI Fund in its Application that it has an acceptable plan to meet CDFI certification requirements by the end of its period of performance, or another date that the CDFI Fund selects. • An Emerging CDFI that has prior award(s) will be held to the CDFI certification performance goal and measure(s) stated in its prior Assistance Agreement(s). • Emerging CDFIs may only apply for TA grants; they are not eligible to apply for FA awards. • Emerging CDFI selected to receive a TA grant will be required to become a Certified CDFI by a date specified in the Assistance Agreement. TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS Applicant .......................................... sradovich on DSK3GMQ082PROD with NOTICES Application type and submission overview through Grants.gov and Awards Management Information System (AMIS). Employer Identification Number (EIN). Dun & Bradstreet, (DUNS) number VerDate Sep<11>2014 19:34 Jan 31, 2018 • Only the entity that will carry out the proposed award activities can apply for an award (i.e., the intended Recipient, other than Depository Institution Holding Companies (see below)). Recipients cannot create a new legal entity to carry out the proposed award activities. • The information in the Application should only reflect the activities of the Applicant, including the presentation of financial and portfolio information. Do not include financial or portfolio information from parent companies, Affiliates, or Subsidiaries in the Application unless it relates to the provision of Development Services. • An Applicant that applies on behalf of another organization will be rejected without further consideration, other than Depository Institution Holding Companies (see below). • Applicants must submit the required application documents listed in Table 10. • The CDFI Fund will only accept Applications that use the official application templates provided on the Grants.gov and AMIS websites. Applications submitted with alternative or altered templates will not be considered. • Applicants have a two-step process that requires the submission of application documents on two separate deadlines and locations: (1) the SF–424 in Grants.gov and (2) all other required application materials in AMIS. • Grants.gov and the SF–424: Æ Grants.gov: Applicants must submit the Office of Management and Budget (OMB) Standard Form (SF) OMB SF–424, Application for Federal Assistance. Æ All Applicants must register in the Grants.gov system to successfully submit an application. The Grants.gov registration process can take 30 days or more to complete. The CDFI Fund strongly encourages applicants to register as early as possible. Æ The CDFI Fund will not extend the SF–424 (or AMIS) application deadline for any Applicant that started the Grants.gov registration process on, before, or after the date of the publication of this NOFA, but did not complete it by the deadline except in the case of a Federal government administrative or technological error that directly resulted in a late submission of the SF–424. Æ The SF–424 must be submitted in Grants.gov on or before March 2, 2018, the deadline listed in Table 1 and Table 12. Applicants are strongly encouraged to submit their SF–424 as early as possible in the Grants.gov portal. Æ The deadline for the Grants.gov submission is before the AMIS deadline. Æ The SF–424 must be submitted under the CDFI Program Funding Opportunity Number. Æ If the SF–424 is not accepted by Grants.gov by the deadline, the CDFI Fund will not review any material submitted in AMIS and the application will be deemed ineligible. • AMIS and all other required application materials: Æ AMIS is an enterprise-wide information technology system that replaced the myCDFI Fund portal. Applicants will use AMIS to submit and store organization and application information with the CDFI Fund. Æ Applicants are only allowed one CDFI Program Application submission in AMIS. Æ Each Application in AMIS must be signed by an Authorized Representative. Æ Applicants must ensure that the Authorized Representative is authorized to sign legal documents on behalf of the organization; consultants working on behalf of the organization cannot be designated as Authorized Representatives. Æ Only the Authorized Representative or Application Point of Contact, included in the Application, can submit the Application in AMIS. Æ All required application materials must be submitted in AMIS on or before the deadline specified in Tables 1 and 12. • Applicants must have a unique EIN assigned by the Internal Revenue Service (IRS). • The CDFI Fund will reject an Application submitted with the EIN of a parent or Affiliate organization. • Pursuant to OMB guidance (68 FR 38402), an Applicant must apply using its unique DUNS number in Grants.gov. • The CDFI Fund will reject an Application submitted with the DUNS number of a parent or Affiliate organization. Jkt 244001 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 4756 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS—Continued System for Award Management (SAM). AMIS Accounts ................................ 501 (c)(4) status .............................. Compliance with Nondiscrimination and Equal Opportunity Statutes, Regulations, and Executive Orders. Depository Institution Holding Company Applicant. Insured CDFI—Insured Credit Union and Insured Depository Institution. Use of award ................................... Requested award amount ............... Pending resolution of noncompliance. Noncompliance status ..................... • SAM is a web-based, government-wide application that collects, validates, stores, and disseminates business information about the federal government’s trading partners in support of the contract awards, grants, and electronic payment processes. • Applicants must register in SAM as part of the Grants.gov registration process. • Applicants must have a DUNS number and an EIN number in order to register in SAM. • Applicants must be registered in SAM before they can submit an SF–424 in Grants.gov. • Each Applicant must register as an organization in AMIS and submit all required application materials through the AMIS portal. • The Application of any organization that does not properly register in AMIS by the deadline set forth in Table 1—FY 2018 CDFI Program Funding Round Critical Deadlines for Applicants—will be rejected without further consideration. • The Authorized Representative and/or Application Point of Contact must be included as ‘‘users’’ in the Applicant’s AMIS account. • An Applicant that fails to properly register and update its AMIS account may miss important communication from the CDFI Fund or not be able to successfully submit an Application. • Pursuant to 2 U.S.C. 1611, any 501 (c)(4) organization that engages in lobbying activities is not eligible for the receipt of a CDFI or NACA Program award. • An Applicant may not be eligible to receive an award if proceedings have been instituted against it in, by, or before any court, governmental agency, or administrative body, and a final determination within the last three years indicates the Applicant has violated any of the following laws but not limited to: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C.2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency. • In the case where a CDFI Depository Institution Holding Company Applicant intends to carry out the activities of an award through its Subsidiary CDFI Insured Depository Institution, the Application must be submitted by the CDFI Depository Institution Holding Company and reflect the activities and financial performance of the Subsidiary CDFI Insured Depository Institution. • Authorized representatives of both the Depository Institution Holding Company and the Subsidiary CDFI Insured Depository Institution must certify that the information included in the Application represents that of the Subsidiary CDFI Insured Depository Institution, and that the award funds will be used to support the Subsidiary CDFI Insured Depository Institution for the eligible activities outlined in the Application. • To be eligible for an award, each Insured Depository Institution Applicant must have a CAMELS/CAMEL rating (rating for banks and credit unions, respectively), by its Federal regulator of at least ‘‘3’’. • Organizations with CAMELS/CAMEL ratings of ‘‘4 or 5’’ will not be eligible for awards. • The CDFI Fund will also evaluate materials concerns identified by the Appropriate Federal Banking Agency in determining eligibility of Insured Depository Institution Applicants. • All awards made through this NOFA must be used to support the Applicant’s activities in at least one of the FA or TA Eligible Activity Categories (see Section II.C). • Awards cannot be used to support the activities of, or otherwise be passed through, transferred, or coawarded to, third-party entities, whether Affiliates, Subsidiaries, or others without the CDFI Fund’s prior written consent (other than Depository Institution Holding Company Applicants). • The Recipient of any award made through this NOFA must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303, with respect to any Direct Costs. • An Applicant must state its requested award amount in the Application in AMIS. An Application that does not include this amount will not be allowed to submit an Application. • The CDFI Fund will consider an Application submitted by an Applicant that has pending noncompliance issues of any of its previously executed award agreement(s), if the CDFI Fund has not yet made a final compliance determination. • The CDFI Fund will not consider an Application submitted by an Applicant that has a previously executed award agreement(s) if, as of the date of the Application, (i) the CDFI Fund has made a determination that such entity is noncompliant with a previously executed agreement and (ii) the CDFI Fund has provided written notification that such entity is ineligible to apply for or receive any future CDFI Fund awards or allocations. Such entities will be ineligible to submit an Application for such time period as specified by the CDFI Fund in writing. • The CDFI Fund will not consider any Applicant that has defaulted on a CDFI Program loan within five years of the Application deadline. TABLE 7—ELIGIBILITY REQUIREMENTS FOR TA APPLICANTS sradovich on DSK3GMQ082PROD with NOTICES CDFI certification status .................. VerDate Sep<11>2014 19:34 Jan 31, 2018 (1) Emerging CDFIs (see definitions in Table 5), or (2) Certifiable or Certified CDFIs (see Table 5) that meet the following criteria: (1) Have total assets* as of the end of the Applicant’s most recent fiscal year end in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: up to $250 million • Insured Credit Unions: up to $10 million • Venture capital funds: up to $10 million • Other CDFIs: up to $5 million OR (2) Have begun operations** on or after January 1, 2014 * ‘‘Total assets’’ is defined as the Total Assets as of Fiscal Year End Date stated in the Applicant’s AMIS account and verified by internally prepared financial statements and/or audits. ** ‘‘Have begun operations’’ is defined as the financing activity start date indicated in the Applicant’s AMIS account. Jkt 244001 PO 00000 Frm 00127 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4757 TABLE 7—ELIGIBILITY REQUIREMENTS FOR TA APPLICANTS—Continued Matching funds ................................ Limitation on Awards ....................... Proposed Activities .......................... • Matching funds documentation is not required for TA awards. • An Emerging CDFI will be allowed to receive no more than three TA awards as an uncertified CDFI. • Applicants must propose to directly undertake eligible activities with TA awards. For example, an uncertified CDFI Applicant must propose to become certified as part of its application and a Certified CDFI Applicant must propose activities that build its capacity to serve its Target Market or an Eligible Market. • Applicants may not propose to use a TA award to create a separate legal entity to become a certified CDFI or otherwise carryout the TA award activities. TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS CDFI certification status .................. Matching funds documentation ....... $5 Million funding cap ..................... FA Category I (SECA) .................... FA Category II (Core) ..................... sradovich on DSK3GMQ082PROD with NOTICES FA Applicants Partners. With Community PPC–FA .......................................... VerDate Sep<11>2014 19:34 Jan 31, 2018 • Each FA Applicant must be a Certified CDFI prior to the announcement of award decisions. • The CDFI Fund will consider an Application submitted by an Applicant that has pending noncompliance issues with its Annual Certification Report, if the CDFI Fund has not yet made a final compliance determination. • All Applicants must submit acceptable documentation attesting that they have received or will receive matching funds. Applicants that do not submit the Matching Funds Excel Workbook documenting the source of their matching funds will not be evaluated. • Awards will be limited to no more than two times the amount of In-Hand or Committed matching funds documentation provided at the time of Application. • Awards will be obligated in like form to the matching funds provided at time of Application. See Table 9. Matching Funds ‘‘Determination of Award Form’’ for additional guidance. • Award payments from the CDFI Fund will require eligible dollar-for-dollar In-Hand matching funds for the total payment amount. Recipients will not receive a payment until 100 percent of their matching funds are In-Hand. • The CDFI Fund will reduce and de-obligate the remaining balance of any Award that does not demonstrate full dollar-for-dollar matching funds equal to the announced award amount by the end of the Matching Funds Window. • The CDFI Fund is prohibited from obligating more than $5 million in CDFI and NACA Program awards, in the aggregate, to any one organization and its Subsidiaries and Affiliates during any three-year period. • For purposes of this NOFA and subject to final FY 2018 appropriations language, the CDFI Fund will include CDFI and NACA Program final awards in the cap calculation that were provided to an Applicant (and/or its Subsidiaries or Affiliates) under the FY 2016, and 2017 funding rounds, as well as the requested FY 2018 award, excluding DF–FA, and HFFI–FA awards. The CDFI Fund will make the FY 2018 funding round award announcements after September 10, 2018. • To be an eligible SECA Applicant, an Applicant must meet the following criteria: (1) Be a Certified or Certifiable CDFI; (2) Request $700,000 or less in FA funds; AND EITHER (3) Have total assets* as of the end of the Applicant’s most recent fiscal year end in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: up to $250 million • Insured Credit Unions: up to $10 million • Venture capital funds: up to $10 million • Other CDFIs: up to $5 million OR (4) Have begun operations ** on or after January 1, 2014 * ‘‘Total assets’’ is defined as the Total Assets of Fiscal Year End Date stated in the Applicant’s AMIS account and verified by internally prepared financial statements and/or audits. ** ‘‘Have begun operations’’ is defined as the financing activity start date indicated in the Applicant’s AMIS account. • A Core Applicant must be either a Certified or Certifiable CDFI as defined in Table 5. • An Applicant that meets the SECA requirements stated above, and that requests more than $700,000 in award funds is categorized as an FA Category II (Core) Applicant, regardless of its total assets and/or years in operation. • A CDFI Applicant can apply for assistance jointly with a Community Partner. The CDFI Applicant would complete the CDFI Program Application for (FA) and would address the Community Partnership in its business plan and other sections of the Application as specified in the guidance materials. • The CDFI Applicant must be either a Certified or Certifiable CDFI as defined in Table 5. • An Application with a Community Partner must: Æ Describe how the CDFI Applicant and Community Partner will each participate in carrying out the partnership and how the partnership will enhance activities serving the investment area or targeted population. Æ Demonstrate that the Community Partnership activities are consistent with the strategic plan submitted by the CDFI—Applicant. • Assistance provided upon approval of an Application with a Community Partner shall only be entrusted to the CDFI Applicant and shall not be used to fund any activity carried out directly by the Community Partner or an Affiliate or Subsidiary thereof. • All PPC–FA Applicants must: Æ Submit a CDFI or NACA Program FA Application; Æ Meet all FA award eligibility requirements; and Æ Provide a PPC–FA award request amount in AMIS. Jkt 244001 PO 00000 Frm 00128 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 4758 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS—Continued DF–FA ............................................. HFFI–FA .......................................... • All DF–FA Applicants must: Æ Submit a CDFI or NACA Program FA Application; Æ Meet all FA award eligibility requirements; Æ Submit the DF–FA Application; and Æ Provide a DF–FA award request amount in AMIS. • All HFFI–FA Applicants must: Æ Submit a CDFI or NACA Program FA Application; Æ Meet all FA award eligibility requirements; Æ Submit the HFFI–FA Application; and Æ Provide a HFFI–FA award request amount in AMIS. B. Matching Funds Requirements: In order to receive an FA award, an Applicant must provide evidence of eligible dollar-for-dollar matching funds and attest that it can provide acceptable documentation upon the CDFI Fund’s request. An Applicant that uses Retained Earnings or Equity Investments must provide documentation of eligible dollar-for-dollar matching funds at the time of application submission. The CDFI Fund will review matching funds information, attestations, and matching funds documentation, if applicable, prior to award payment and will pay funds based upon eligible In-Hand matching funds (see Table 9 for the definition of In-Hand). The CDFI Fund encourages Applicants to review the Regulations at 12 CFR 1805.500, the Uniform Requirements, and the matching funds guidance materials available on the CDFI Fund’s website. Table 9 provides a summary of the matching funds requirements; additional details are set forth in the Application materials. TABLE 9—MATCHING FUNDS REQUIREMENTS In-Hand matching funds definition .. Matching funds requirements by application type. sradovich on DSK3GMQ082PROD with NOTICES Amount of required match .............. Determination of award form .......... VerDate Sep<11>2014 19:34 Jan 31, 2018 • Matching funds are In-Hand when the Applicant receives payment for the matching funds from the matching funds source and has acceptable documentation that can be provided to the CDFI Fund upon request. Acceptable In-Hand documentation must show the source, form (e.g., grant, loan, deposit, and Equity Investment), amount received, and the date the funds came into physical possession of the Applicant. • The following documentation, depending on the matching funds type, must be available to be provided to the CDFI Fund upon request: • Loan—the loan agreement and/or promissory note; • grant—the grant letter or agreement; • equity investment—the stock certificate, documentation of total equity outstanding, and shareholder agreement; • retained earnings—Retained Earnings Calculator and audited financial statements or call reports from regulating entity for each fiscal year reported in Retained Earnings Calculator; • third party in-kind contribution- evidence of receipt of contribution and valuation; • deposits—certificates of deposit agreement; • secondary capital—secondary capital agreement and disclosure and acknowledgement statement; AND • clearly legible documentation that demonstrates actual receipt of the matching funds including the date of the transaction and the amount, such as a copy of a check or a wire transfer statement. • Applicants must provide information on their In-Hand matching funds in the Matching Funds Breakout Table Excel Workbook (refer to Table 10—Required Application Documents) which must be submitted at the time of Application. • Although Applicants are not required to provide further documentation for In-Hand matching funds at the time of Application submission, other than for Retained Earnings and Equity Investments, they must be able to provide documentation to the CDFI Fund upon request. The following Applicants must provide evidence of acceptable matching funds: • Category I/SECA FA Applicants applying for FA, PPC–FA, and DF–FA (upon request); * • Category II/Core FA Applicants applying for FA, PPC–FA, and DF–FA; and • HFFI–FA Applicants (upon request).* TA Applicants are not required to provide matching funds. * The matching funds requirement for HFFI–FA and SECA FA applicants was waived in the appropriations bill for FY 2017, and final FY 2018 appropriations are pending. HFFI–FA and SECA FA applicants are not required to submit matching funds for their award requests at the time of application. However, the CDFI Fund reserves the right to request matching funds from HFFI–FA and SECA FA applicants if matching funds are not waived in the final FY 2018 CDFI Program appropriation. Applicants must provide evidence of eligible, In-Hand, dollar-for-dollar, non-Federal matching funds for every FA award dollar to be paid by the CDFI Fund. If awarded, Applicants that do not demonstrate 100 percent In-Hand matching funds at the time of Application may experience a longer payment timeline. FA awards will be made in comparable form and value to the eligible In-Hand and/or Committed matching funds documentation submitted by the Applicant. • For example, if an FA Applicant provides documentation of eligible loan matching funds for $200,000 and eligible grant matching funds of $400,000, the CDFI Fund will obligate $200,000 of the FA award as a loan and $400,000 as a grant. Jkt 244001 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4759 TABLE 9—MATCHING FUNDS REQUIREMENTS—Continued Matching Funds Window definition Matching funds and form of award Committed matching funds definition. Limitations on matching funds ........ Rights of the CDFI Fund ................. Matching funds in the form of thirdparty in-kind contributions. Matching funds in the form of a loan. • After awards have been announced, Recipients may request the CDFI Fund’s permission to change the form of their award from loan to grant (by producing eligible grant matching funds), but will only be eligible to receive a grant equal to the federal credit subsidy amount associated with the original loan. Applicants will also experience delays in payments if requested form of award changes are approved by the CDFI Fund. • The Applicant must receive eligible In-Hand matching funds between January 1, 2016 and January 15, 2019. • A Recipient must provide the CDFI Fund with all documentation demonstrating the receipt of In-Hand matching funds by January 31, 2019. • Recipients will be approved for a maximum award size of two times the total amount of eligible In-Hand and/or Committed matching funds included in the Application, so long as they do not exceed the maximum award amount. • The form of the matching funds documented in the Application determines the form of the award. • Matching funds are Committed when the Applicant has entered into or received a legally binding commitment from the matching funds source showing the matching funds will be disbursed to the Applicant at a future date. • The Applicant must be able to provide the CDFI Fund, upon request, acceptable written documentation showing the source, form, and amount of the Committed matching funds (including, in the case of a loan, the terms thereof), as well as the anticipated payment date of the Committed funds. • The Applicant must provide information on their Committed matching funds in the Matching Funds Breakout Table Excel Workbook (refer to Table 10—Required Application Documents) which must be submitted at the time of Application. • Although the Applicant is not required to provide further documentation for Committed matching funds at the time of Application submission, other than for Retained Earnings, it must be able to provide documentation to the CDFI Fund upon request. • Matching funds must be from non-Federal sources. • Applicants cannot proffer matching funds that were accepted as matching funds for a prior FA award under the CDFI Program, NACA Program, or under another Federal grant or award program. • Matching funds must comply with Regulations at 12 CFR 1805.500 et seq. • Matching funds must be attributable to at least one of the five eligible FA activities (see Section II.C). • The CDFI Fund reserves the right to contact the matching funds source to discuss the matching funds and the documentation that the Applicant provided if required or requested. • The CDFI Fund may grant an extension of the Matching Funds Window (defined in Table 9), on a caseby-case basis, if the CDFI Fund deems it appropriate. • The CDFI Fund reserves the right to rescind all or a portion of an FA award and re-allocate the rescinded award amount to other qualified Applicant(s), if a Recipient fails to provide evidence of In-Hand Matching Funds totaling its award amount obtained during the Matching Funds Window. • Third party in-kind contributions are non-cash contributions (i.e., property or services) provided by nonFederal third parties to the Applicant. • Third party in-kind contributions will be considered to be in the form of a grant for matching funds purposes. • Third party in-kind contributions may be in the form of real property, equipment, supplies, and other expendable property, and the value of goods and services directly benefiting the eligible activities. • For third party in-kind contributions, the fair market value of goods and services must be documented as the grant match. • Applicants will be responsible for documenting the value of all in-kind contributions as described in the Uniform Requirements. • An FA award made in the form of a loan will have the following standardized terms: • Severe Constraints Waiver ............. • sradovich on DSK3GMQ082PROD with NOTICES • • Ineligible matching funds ................ • • VerDate Sep<11>2014 19:34 Jan 31, 2018 i. A 13-year term with semi-annual interest-only payments due in years 1 through 10, and fully amortizing payments due each year in years 11 through 13; and ii. A fixed interest rate of 2.24 percent, which was calculated by the CDFI Fund based on the U.S. Department of the Treasury’s 10-year Treasury note. The Applicant’s matching funds loan(s) must: i. Have a minimum of a 3-year term (loans presented as matching funds with less than a 3-year term will not qualify as eligible match); and ii. be from a non-Federal source. In the case of an Applicant demonstrating severe constraints on available sources of matching funds, the CDFI Fund, in its sole discretion, may permit such Applicant to comply with the matching funds requirements by reducing such requirements by up to 50 percent. In order to be considered eligible for a Severe Constraints Waiver, an Applicant must meet all of the SECA eligibility criteria described in Table 8. Instructions for requesting a Severe Constraints Waiver will be made available if required. No more than 25 percent of the total funds available for obligation under this funding round may be matched under the Severe Constraints Waiver. If the CDFI Fund determines that any portion of the Applicant’s matching funds is ineligible, the CDFI Fund will permit the Applicant to offer documentation of alternative matching funds as a substitute for the ineligible matching funds. In such instances: i. The Applicant must provide acceptable evidence of the alternative matching funds within the period of time specified by the CDFI Fund, and ii. the alternative matching funds will not increase the total amount of FA requested. Jkt 244001 PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 4760 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 9—MATCHING FUNDS REQUIREMENTS—Continued Use of matching funds from a prior CDFI Program Recipient. Matching funds in the form of retained earnings. Special rule for Insured Credit Unions and Insured Depository Institutions. If an Applicant offers matching funds documentation from an organization that was a prior Recipient under the CDFI Program or NACA Program, the Applicant must be able to prove to the CDFI Fund’s satisfaction that such funds do not consist, in whole or in part, of CDFI Program funds, NACA Program funds, or other Federal funds. • Retained earnings are eligible for use as matching funds when the CDFI Fund calculates an amount equal to: i. The increase in retained earnings that occurred over any one of the Applicant’s fiscal years within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds used for an award; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds used for an award; or iii. any combination of (i) and (ii) above that does not include matching funds used for an award. • Retained earnings will be matched with an FA award in the form of a grant. • Depository Institution Holding Company Applicants must provide call reports for the Depository Institution Holding Company in order to verify their retained earnings, even if the requested FA award will support its subsidiary bank. • An Insured Credit Union’s and Insured Depository Institution’s retained earnings are eligible for use as matching funds when the CDFI Fund calculates an amount equal to: sradovich on DSK3GMQ082PROD with NOTICES i. The increase in retained earnings that occurred over any one of the Applicant’s fiscal years within the Matching Funds Window, adjusted to remove revenue from Federal sources and matching funds used for an award; or ii. the annual average of such increases that occurred over any three consecutive fiscal years of the Applicant with at least one of the fiscal years occurring within the Matching Funds Window, adjusted to remove revenue and expenses derived from Federal sources and matching funds used for an award; or iii. the entire retained earnings that have been accumulated since the inception of the Applicant, as provided in the Regulations. • If option (iii) is used for Insured Credit Unions, the Applicant must increase its member and/or non-member shares and/or total loans outstanding by an amount equal to the amount of retained earnings committed as matching funds. • This increase will be measured on a quarterly basis from March 31, 2018; must occur by the end of Year 1 of the Recipient’s Performance Period, as set forth in its Assistance Agreement; and will be based on amounts reported in the Applicant’s National Credit Union Administration (NCUA) form 5300 Call Report. • The CDFI Fund will assess the likelihood of this increase during the Application review process. • An award will not be made to any Applicant that has not demonstrated in the relevant NCUA form 5300 Call Reports that it has increased shares and/or total loans outstanding by at least 25 percent of the requested FA award amount between December 31, 2016, and December 31, 2017. • The matching funds are not In-Hand until the Recipient has increased its member and/or non-member shares, deposits and/or total loans outstanding by the amount of retained earnings since inception used as matching funds within the time period specified. • If option (iii) is used for Insured Depository Institutions or Depository Institution Holding Companies, the Applicant or its Subsidiary Insured Depository Institution (in the case of a Depository Institution Holding Company) must increase deposits and/or total loans outstanding by an amount equal to the amount of retained earnings committed as matching funds. Depository Institution Holding Company Applicants must use the call reports of the CDFI Subsidiary Insured Depository Institution that the requested FA award will support. • This increase will be measured on a quarterly basis from March 31, 2018; must occur by the end of Year 1 of the Recipient’s Performance Period, as set forth in its Assistance Agreement; and will be based on amounts reported in the Bank Call Report. • The CDFI Fund will assess the likelihood of this increase during the Application review process. • An award will not be made to any Applicant that has not demonstrated in the relevant call reports that it has increased deposits and/or total loans outstanding by at least 25 percent of the requested FA award amount between December 31, 2016, and December 31, 2017. • The matching funds are not In-Hand until the Recipient has increased its deposits and/or total loans outstanding by the amount of retained earnings since inception used as matching funds within the time period specified. • All regulated Applicants utilizing the part (iii) Since Inception rule should refer to the Retained Earnings Guidance included in the Matching Funds Breakout Table Excel Workbook found on the CDFI Fund website. V. Application and Submission Information A. Address To Request an Application Package: Application materials can be found on the CDFI Fund’s website at www.cdfifund.gov/cdfi. Applicants may request a paper version of any VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 Application material by contacting the CDFI Fund Help Desk at cdfihelp@ cdfi.treas.gov. B. Content and Form of Application Submission: All Applications must be prepared using the English language, and calculations must be made in U.S. PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 dollars. The following table lists the required Application documents for the FY 2018 Funding Round. The CDFI Fund reserves the right to request and review other pertinent or public information that has not been specifically requested in this NOFA or E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices the Application. Information submitted by the Applicant that the CDFI Fund has not specifically requested will not be reviewed or considered as part of the Application. Information submitted must accurately reflect the Applicant’s activities. Financial data, portfolio, and activity information provided in the 4761 Application should only include the Applicant’s activities. TABLE 10—REQUIRED APPLICATION DOCUMENTS Application documents Applicant type Active AMIS Account ............................................................................... SF–424 .................................................................................................... CDFI Program Application Components: • Funding Application Detail. • Data, Charts, and Narrative sections as listed in AMIS and outlined in Application materials. DF–FA Application Components: • Requested Disability Funds—Financial Assistance Amount Narratives *. All Applicants ................................. All Applicants ................................. All Applicants ................................. AMIS. Fillable PDF in Grants.gov. AMIS. DF–FA Applicants .......................... —Must submit narrative document to FA Application in AMIS. AMIS. HFFI–FA Applicants ...................... AMIS. * DF–FA Narrative will be provided after FA Application submission if DF–FA funding request is specified in AMIS. HFFI–FA Application Components: • Funding Application Detail. • Narratives ..................................................................................... Submission format —Must create new funding application. ATTACHMENTS TO THE APPLICATION: Add to ‘‘Related Attachments’’ related list in application Key Staff Resumes ................................................................................. Organizational Chart ............................................................................... Audited Financial Statements For the Applicant’s Three Most Recent Historic Fiscal Years. Management Letters for the Applicant’s Most Recent Historic Fiscal Year. sradovich on DSK3GMQ082PROD with NOTICES The Management Letter is prepared by the Applicant’s auditor and is a communication on internal control over financial reporting, compliance, and other matters. The Management Letter contains the auditor’s findings regarding the Applicant’s accounting policies and procedures, internal controls, and operating policies, including any material weaknesses, significant deficiencies, and other matters identified during auditing. The Management Letter may include suggestions for improving on identified weaknesses and deficiencies and/or best practice suggestions for items that may not be considered to be weaknesses or deficiencies. The Management Letter may also include items that are not required to be disclosed in the annual Audited Financial Statements. The Management Letter is distinct from the auditor’s Opinion Letter, which is required by Generally Accepted Accounting Principles (GAAP). Management Letters are not required by GAAP, and are sometimes provided by the auditor as a separate letter from the Audit itself. Statement(s) in Lieu of Management Letter for Applicant’s Most Recent Historic Fiscal Year Issued from Board Treasurer or other Board member using template provided in application materials (required only if Management Letters are not available for Audited Financial Statements). Unaudited Financial Statements for Applicant’s Three Most Recent Historic Years (if Audited Financial Statements are not available). Current Year to Date—December 31, 2017 Unaudited Financial Statements. Community Partnership Agreement ........................................................ Matching Funds Breakout Table Excel Workbook .................................. Call Reports for each fiscal year reported in the Retained Earnings Calculator. VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 PO 00000 Frm 00132 Fmt 4703 All Applicants ................................. All Applicants ................................. FA Applicants: Loan funds, Venture capital funds, and other non-Insured Depository Institutions. FA Applicants: Loan funds, Venture capital funds, and other non-Insured Depository Institutions. TA Applicants: If available ............. PDF or Word document in AMIS. PDF in AMIS. PDF in AMIS. FA Applicants: Loan funds and other non-Insured Depository Institutions. TA Applicants: If available ............. PDF in AMIS. TA Applicants: Loan funds, venture capital funds, and other non-Insured Depository Institutions. FA and TA Applicants: Loan funds, venture capital funds, and other non-Insured Depository Institutions. FA Applicants, if applicable ........... FA Core Applicants ....................... FA Core Applicants: Insured Depository Institutions that are using Retained Earnings as matching funds only. PDF in AMIS. Sfmt 4703 E:\FR\FM\01FEN1.SGM PDF in AMIS. PDF in AMIS. PDF or Word document in AMIS. Excel in AMIS. PDF in AMIS. 01FEN1 4762 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 10—REQUIRED APPLICATION DOCUMENTS—Continued Application documents Applicant type Equity Investment Matching Funds Documentation ............................... FA Core Applicants: For-profit CDFIs that are using an Equity Investment(s) as matching funds only. C. Application Submission: The CDFI Fund has a two-step process that requires the submission of application documents on separate deadlines and locations. The SF–424 must be submitted through Grants.gov and all other application documents through the AMIS portal. The CDFI Fund will not accept Applications via email, mail, facsimile, or other forms of communication, except in extremely rare circumstances that have been preapproved by the CDFI Fund. Applicants are only required to submit the OMB SF–424, Application for Federal Assistance form in Grants.gov. All other application information (listed in Table 10) will be submitted through AMIS. The deadline for submitting the SF–424 is listed in Tables 1 and 11. All Applicants must register in the Grants.gov system to successfully submit the SF–424. The Grants.gov registration process can take 30 days or longer to complete and 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). Since the Grants.gov registration process requires Applicants to have DUNS and EIN numbers, Applicants without these required numbers should allow for additional time to complete the Grants.gov registration process. The CDFI Fund will not extend the application deadline to any Applicant that started the Grants.gov registration process but did not complete it by the deadline. An Applicant that has previously registered with Grants.gov must verify that its registration is current and active. Applicants should contact Grants.gov directly with questions related to the registration or submission process as the CDFI Fund does not maintain the Grants.gov system. Each Application must be signed by a designated Authorized Representative in AMIS before it can be submitted. Applicants must ensure that an Authorized Representative is authorized to sign legal documents on behalf of the organization. Consultants working on behalf of the organization cannot be designated as Authorized Representatives. Only a designated Authorized Representative or Application Point of Contact, included in the Application, may submit the Application in AMIS. If an Authorized Representative or Application Point of Contact does not submit the application, the application will be deemed ineligible. D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to the Uniform Requirements, each Applicant must provide as part of its Application submission, a Dun and Bradstreet Universal Numbering System (DUNS) number. Applicants without a DUNS number will not be able to register and submit an Application in the Grants.gov system. Allow sufficient time for Dun & Bradstreet to respond to inquiries and/or requests for DUNS numbers. Submission format PDF or Word document in AMIS. E. System for Award Management (SAM): Any entity applying for Federal grants or other forms of Federal financial assistance through Grants.gov must be registered in SAM before submitting its Application. Registration in SAM is required as part of the Grants.gov registration process. The SAM registration process can take two weeks or longer to complete. Applicants without DUNS and/or EIN numbers should allow for additional time as an Applicant cannot register in SAM without those required numbers. Applicants that have previously completed the SAM registration process must verify that their SAM accounts are current and active. Each Applicant must continue to maintain an active SAM registration with current information at all times during which it has an active Federal award or an Application under consideration by a Federal awarding agency. The CDFI Fund will not consider any Applicant that fails to properly register or activate its SAM account and, as a result, is unable to submit the SF–424 in Grants.gov or Application in AMIS by the applicable Application deadlines. These restrictions also apply to organizations that have not yet received a DUNS or EIN number. Applicants must contact SAM directly with questions related to registration or SAM account changes as the CDFI Fund does not maintain this system and has no ability to make changes or correct errors of any kind. For more information about SAM, visit https://www.sam.gov. TABLE 11—GRANTS.GOV REGISTRATION TIMELINE SUMMARY Estimated minimum time to complete Agency Obtain a DUNS number ........................................................ Obtain an EIN Number ......................................................... Register in SAM.gov ............................................................. Register in Grants.gov .......................................................... sradovich on DSK3GMQ082PROD with NOTICES Step Dun & Bradstreet ................................................................. Internal Revenue Service (IRS) ........................................... System for Award Management (SAM.gov) ........................ Grants.gov ............................................................................ One Two Two One (1) (2) (2) (1) Week .* Weeks .* Weeks .* Week .** *Applicants are advised that the stated durations are estimates only and represent minimum timeframes. Actual timeframes may take longer. The CDFI Fund will not consider any Applicant that fails to properly register or activate its SAM account, has not yet received a DUNS or EIN number, and/or fails to properly register in Grants.gov. ** This estimate assumes an Applicant has a DUNS number, an EIN number, and is already registered in SAM.gov. F. Submission Dates and Times: VerDate Sep<11>2014 20:57 Jan 31, 2018 Jkt 244001 1. Submission Deadlines: The following table provides the critical PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 deadlines for the FY 2018 Funding Round. E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4763 TABLE 12—FY 2018 FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Deadline Time Eastern Time (ET) Last day to contact Certification, Compliance Monitoring and Evaluation (CCME) staff regarding CDFI Certification. CDFI certification applications .......................... Create AMIS Account (New Applicants) .......... SF424 (Application for Federal Assistance) .... Last day to contact CDFI Program staff .......... February 28, 2018 ...... 11:59 p.m. .................. Service Request via AMIS. March 2, 2018 ............ March 2, 2018 ............ March 2, 2018 ............ April 2, 2018 ............... 11:59 p.m. .................. ..................................... 11:59 p.m. .................. 5:00 p.m. .................... CDFI Program Application for FA or TA .......... sradovich on DSK3GMQ082PROD with NOTICES Description April 4, 2018 ............... 11:59 p.m. .................. Electronically via AMIS. AMIS. Electronically via Grants.gov. Service Request via AMIS Or CDFI Fund Helpdesk: 202–653–0421. Electronically via AMIS. 2. Confirmation of Application Submission in Grants.gov and AMIS: Applicants are required to submit the OMB SF–424, Application for Federal Assistance through the Grants.gov system, under the CDFI Program Funding Opportunity Number. All other required application materials must be submitted through the AMIS website. Application materials submitted through both systems are due by the applicable deadlines. Applicants must submit the SF–424 on an earlier deadline from the other required application materials in AMIS. If the SF–424 is not successfully accepted by Grants.gov by the deadline, the CDFI Fund will not review any of the 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 submitting the SF–424 confirming that the submission has entered the Grants.gov system. This email will contain a tracking number for the submitted SF–424. Within 48 hours, the Applicant will receive a second email, which will indicate if the submitted SF– 424 was either successfully validated or rejected with errors. However, Applicants should not rely on the email notification from Grants.gov to confirm that their SF–424 was validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their SF–424 by contacting the helpdesk at Grants.gov directly. The Application material submitted in AMIS is not officially accepted by the CDFI Fund until Grants.gov has validated the SF–424. b. AMIS Submission Information: AMIS is a web-based portal where Applicants will directly enter their application information and add the required attachments listed in Table 10. AMIS will verify that the Applicant provided the minimum information required to submit an Application. Applicants are responsible for the quality and accuracy of the information and attachments included in the Application submitted in AMIS. The CDFI Fund strongly encourages the Applicant to allow sufficient time to confirm the Application content, review the material submitted, and remedy any issues prior to the Application deadline. Each Application must be signed by an Authorized Representative in AMIS before it can be submitted. Applicants must ensure that an Authorized Representative is authorized to sign legal documents on behalf of the organization. Consultants working on behalf of the organization may not be designated as Authorized Representatives. Only an Authorized Representative or an Application Point of Contact can submit the Application. If an Authorized Representative or Application Point of Contact does not submit the application, the application will be deemed ineligible. Applicants can only submit one Application. Upon submission, the Application will be locked and cannot be resubmitted, edited, or modified in any way. The CDFI Fund will not unlock or allow multiple Application submissions. 3. Late Submission: The CDFI Fund will not accept an Application if the SF–424 is not submitted and accepted by Grants.gov by the deadline. Additionally, the CDFI Fund will not accept an Application if it is not signed by an Authorized Representative and submitted in AMIS by the deadline. In either case, the CDFI Fund will not review any material submitted, and the Application will be deemed ineligible. However, in cases where a Federal government administrative or technological error directly resulted in a late submission of the SF–424 or the Application, Applicants are provided two opportunities to submit a written request for acceptance of late submissions. The CDFI Fund does not consider a delay in any Federal government process to constitute a Federal government administrative or technological error. The CDFI Fund will VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 PO 00000 Frm 00134 Fmt 4703 Sfmt 4703 Submission method not consider a late submission of the SF–424 or the Application that was a direct result of a delay in a Federal Government process, unless such delay was the result of a Federal government administrative or technological error. a. SF–424 Late Submission: In cases where a Federal government administrative or technological error directly resulted in a late submission of the SF–424, the Applicant must submit a written request for acceptance of late SF–424 submission and include documentation of the error no later than two business days after the SF–424 deadline. The CDFI Fund will not respond to request for acceptance of late SF–424 submissions after that time period. Applicants must submit late SF– 424 submission requests to the CDFI Fund via an AMIS service request to the CDFI Program with a subject line of ‘‘Late SF–424 Submission Request.’’ b. Application Late Submission: In cases where a Federal government administrative or technological error directly resulted in a late submission of the Application in AMIS, the Applicant must submit a written request for acceptance of late Application submission and include documentation of the error no later than two business days after the Application deadline. The CDFI Fund will not respond to request for acceptance of late Application submissions after that time period. Applicants must submit late Application submission requests to the CDFI Fund via an AMIS service request to the CDFI Program with a subject line of ‘‘Late Application Submission Request.’’ G. Funding Restrictions: FA, PPC–FA, DF–FA, HFFI–FA and TA awards are limited by the following: 1. FA awards: a. A Recipient shall use FA funds only for the eligible activities described in Section II.(C)(1) of this NOFA and its Assistance Agreement. b. A Recipient may not distribute FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. E:\FR\FM\01FEN1.SGM 01FEN1 sradovich on DSK3GMQ082PROD with NOTICES 4764 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices c. FA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. e. 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. 2. PPC–FA awards: a. A Recipient shall use PPC–FA funds only for the eligible activities described in Section II. (C)(5) of this NOFA and its Assistance Agreement. b. A Recipient may not distribute PPC–FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. c. PPC–FA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay PPC–FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. e. 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. 3. DF–FA awards: a. A Recipient shall use DF–FA funds only for the eligible activities described in Section II. (C)(2) of this NOFA and its Assistance Agreement. b. A Recipient may not distribute DF– FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. c. DF–FA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay DF–FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. e. 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. 2. HFFI–FA awards: a. A Recipient shall use HFFI–FA funds only for the eligible activities described in Section II. (C)(4) of this NOFA and its Assistance Agreement. b. A Recipient may not distribute HFFI–FA funds to an Affiliate, Subsidiary, or any other entity, without the CDFI Fund’s prior written approval. c. HFFI–FA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay HFFI–FA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. e. The Recipient must comply, as applicable, with the Buy American Act VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 of 1933, 41 U.S.C. 8301–8303, with respect to any Direct Costs. 3. TA grants: a. A Recipient shall use TA funds only for the eligible activities described in Section II. (C) (3) of this NOFA and its Assistance Agreement. b. A Recipient may not distribute TA funds to an Affiliate, Subsidiary or any other entity, without the CDFI Fund’s prior written consent. c. TA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay TA funds in amounts, or under terms and conditions, which are different from those requested by an Applicant. e. 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. V. Application Review Information A. Criteria: If the Applicant has submitted an 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 purpose of clarifying or confirming Application information. If contacted, the Applicant must respond within the time period communicated by the CDFI Fund or risk that its Application will be rejected. The CDFI Fund will review the FA, DF–FA, PPC–FA, HFFI–FA, and TA Applications according the below process. 1. Financial Assistance (FA) Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each Application using a five step review process illustrated in the sections below. Applicants that meet the minimum criteria will advance to the next step in the review process. Applicants applying as a Community Partnership must describe partnership in the Application pursuant to the requirements set forth in Table 8 and will be evaluated in accordance with the review process described below. a. Step 1: Eligibility Review: The CDFI Fund will evaluate each Application to determine its eligibility status per Section III. Eligibility Information of this NOFA. b. Step 2: Financial Analysis and Compliance Evaluation: Step 2 contains two main components: financial health analysis and compliance risk evaluation. The CDFI Fund will evaluate the financial health and PO 00000 Frm 00135 Fmt 4703 Sfmt 4703 viability of each Application using financial information provided by the Applicant. The CDFI Fund will also evaluate the compliance risk of each Application using information provided in the Application. For the financial health analysis, each Application will receive a Total Financial Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. The Total Financial Composite Score is based on the analysis of twenty-four (24) financial indicators. Applications will be grouped based on the Total Financial Composite Score. Applicants must receive a Total Financial Composite Score of one (1), two (2), or three (3) to advance to Step 3. Applicants that receive an initial Total Financial Composite Score of four (4) or five (5) will be re-evaluated and re-scored by CDFI Fund staff. If the Total Financial Composite Score remains four (4) or five (5) after CDFI Fund staff review, the Applicant will not advance to Step 3. For the compliance analysis, the CDFI Fund will evaluate the compliance risk of each Application using information provided in the Application. Each Application will receive a Total Compliance Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. Applicants must receive a Total Compliance Composite Score of one (1), two (2), or three (3) to advance to Step 3. Applicants that receive an initial Total Compliance Composite Score of four (4) or five (5) will be re-evaluated and re-scored by CDFI Fund Staff. If the Total Compliance Composite Score remains four (4) or five (5) after CDFI Staff review, the Applicant will not advance to Step 3. c. Step 3: Business Plan Review: Applicants that proceed to Step 3 will be evaluated on the soundness of each Applicant’s comprehensive business plan. Two external non-CDFI Fund Reviewers will conduct the Step 3 evaluation. Reviewers will evaluate the Application sections listed in Table 13. All Applications will be reviewed in accordance with standard reviewer evaluation materials for the business plan review. Applications will be ranked based on Total Business Plan Scores, in descending order. In order to advance to Step 4, Applicants must receive a Total Business Plan Score that is either (1) equal to receiving a point score equivalent to a ‘‘Good’’ out of a ranking scale in descending order of Excellent, Good, Fair, Limited or Poor, in each section listed in Table 13 or (2) within the top 60 percent of the CORE applicant pool for CORE applicants or within the top 70 percent of the SECA E:\FR\FM\01FEN1.SGM 01FEN1 4765 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices applicant pool for SECA applicants, whichever is greater. In the case of tied Total Business Plan Scores that would prevent an Applicant from moving to Step 4, all Applicants with the same score will progress to Step 4. TABLE 13—STEP 3: FA BUSINESS PLAN REVIEW SCORING CRITERIA Possible score FA application sections Score needed to advance Executive Summary .................................................................... Business Strategy ....................................................................... Market and Competitive Analysis ............................................... Products and Services ................................................................ Management and Track Record ................................................. Growth and Projections .............................................................. Not Scored 12 7 12 12 7 Total Business Plan Score .................................................. 50 d. Step 4: Policy Objective Review: The CDFI Fund internal reviewers will evaluate each Application to determine its ability to meet policy objectives of the CDFI Fund authorizing statute. The policy objectives considered in this evaluation are listed in Table 14 below. The CDFI Fund also conducts a due diligence review for Applications that N/A. N/A. N/A. N/A. N/A. N/A. CORE cant SECA cant Applicants: Within Top 60 percent of all CORE AppliStep 3 Scores. Applicants: Within Top 70 percent of all SECA AppliStep 3 Scores. includes an analysis of programmatic risk factors including, but not limited to: history of performance in managing Federal awards (including timeliness of reporting and compliance); reports and findings from audits; and the Applicant’s ability to effectively implement Federal requirements, which could impact the Total Policy Objective Review Score. Each Applicant will be evaluated in each of the categories, which will result in a Total Policy Objective Review Composite Score on a scale of one (1) to five (5), with one (1) being the highest score. Applicants are then grouped according to Total Policy Objective Review Scores. TABLE 14—STEP 4: FA POLICY REVIEW SCORING CRITERIA Score needed to advance Possible scores Economic Distress .................................................. Economic Opportunities .......................................... Partnerships ............................................................ 1, 2, 3, 4, or 5 ........................................................ 1, 2, 3, 4, or 5 ........................................................ 1, 2, 3, 4, or 5 ........................................................ 1 1 1 N/A. N/A. N/A. Total Policy Objective Review Composite Score. sradovich on DSK3GMQ082PROD with NOTICES Section 1, 2, 3, 4, or 5 ........................................................ 1 All Scores Advance. e. Step 5: Award Amount Determination: The CDFI Fund determines an award amount for each Application based on the Step 4 Total Policy Objective Review Score, the Applicant’s request amount, and on certain variables, including but not limited to, an Applicant’s deployment track record, minimum award size, and funding availability. Award amounts may be reduced from the requested award amount as a result of this analysis. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions. 2. Healthy Food Financing Initiative– FA (HFFI–FA) Application Scoring, Award Selection, Review, and Selection Process: Two external non-CDFI Fund VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 reviewers will evaluate each HFFI–FA Application associated with a FA application that progresses to Step 4 of the FA Application review process. Reviewers will evaluate the Application sections listed in Table 15 and assign a Total HFFI- FA Score up to 25 points. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applications will be ranked based on total scores, in descending order. Applicants that fail to receive an FA award will not be considered for a HFFI–FA award. The CDFI Fund conducts additional levels of due diligence for Applications that are in scoring contention for an HFFI–FA award. This due diligence includes an analysis of programmatic and financial risk factors including, but PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 High score not limited to, financial stability, quality of management systems and ability to meet award management standards, history of performance in managing Federal awards (including timeliness of reporting and compliance), reports and findings from audits, and the Applicant’s ability to effectively implement Federal requirements. Award amounts may be reduced from the requested award amount as a result of this analysis. The CDFI Fund may reduce awards sizes from requested amounts based on certain variables, including an Applicant’s loan disbursement activity, total portfolio outstanding, and similar factors. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions. E:\FR\FM\01FEN1.SGM 01FEN1 4766 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 15—STEP 3 HFFI–FA APPLICATION SCORING CRITERIA HFFI–FA applicants (points) HFFI–FA narrative sections HFFI Target Market Profile .................................................................................................................................................................. Healthy Food Financial Products ........................................................................................................................................................ Healthy Food Development Services .................................................................................................................................................. Projected HFFI–FA Activities ............................................................................................................................................................... HFFI Track Record, Management Capacity for Providing Healthy Food Financing, Healthy Food Financing Outcomes ................ 4 5 2 7 7 Total HFFI–FA Score ................................................................................................................................................................... 25 3. Persistent Poverty Counties— Financial Assistance (PPC–FA) Application Scoring, Award Selection, Review, and Selection Process: Application requests for PPC–FA awards are not scored. A CDFI Fund internal reviewer will evaluate the PPC– FA request of each associated FA Applicant that has advanced to the Step 4 review process. PPC–FA award amounts will be determined based on the total number of eligible Applicants and funding availability, the Applicant’s requested amount, and on certain variables, including but not limited to, an Applicant’s deployment track record, historical track record of deployment in Persistent Poverty Counties for Applicants that have received prior awards from the CDFI Fund, minimum award size, and funding availability. 4. Disability Funds-Financial Assistance (DF–FA) Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate each DF–FA Application associated with a FA application progresses to Step 4 of the FA Application review process. The reviewer will evaluate the Application and assign a Total DF- FA Score on a scale of one (1) to five (5), with one (1) being the highest score. Applicants are then grouped according to Total DF- FA Score. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applicants that fail to receive an FA award will not be considered for a DF– FA award. Award amounts will be determined on the basis of the Total DF–FA Score, the Applicant’s requested amount, and on certain variables, including but not limited to, an Applicant’s deployment track record, minimum award size, and funding availability. The CDFI Fund will make awards to the highest scoring applicants first. Award amounts may be reduced from the requested award amount as a result of this analysis. The DF–FA award is evaluated independently from the FA award and will not affect the FA award evaluation or size. TABLE 16—STEP 3 DF–FA APPLICATION SCORING CRITERIA Section Possible scores DF–FA Narrative Questions ........................................................ 1, 2, 3, 4, or 5 ............................................................................ 1 Total DF–FA Score .............................................................. 1, 2, 3, 4, or 5 ............................................................................ 1 5. Technical Assistance (TA) Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each Application to determine its eligibility pursuant to Section III. Eligibility Information of this NOFA. If the Application meets the eligibility criteria, the CDFI Fund will evaluate each TA Application using standard scoring criteria in the Business Plan Review (Table 17). An Applicant must receive a minimum Total TA Business Plan Score of 60 points for the TA components in order to be considered for an award. Emerging CDFI or Certifiable CDFI Applicants must achieve a minimum score of 35 points in Section I to be considered for an award and to be reviewed in Section II. An Applicant that is a Certified CDFI will be evaluated on the demonstrated need for TA funding to build the CDFI’s capacity, further the Applicant’s strategic goals, and achieve impact within the Applicant’s Target Market. An Applicant that is an Emerging CDFI or Certifiable CDFI will be evaluated on High score the Applicant’s demonstrated capability and plan to achieve CDFI certification within three years, or if a prior awardee, the certification performance goal and measure stated in its prior Assistance Agreement. An Applicant that is an Emerging CDFI and Certifiable CDFI will also be evaluated on its demonstrated need for TA funding to build the CDFI’s capacity and further its strategic goals. The CDFI Fund will score each part of the TA Business Plan Review as indicated in Table 17. sradovich on DSK3GMQ082PROD with NOTICES TABLE 17—TA BUSINESS PLAN REVIEW SCORING CRITERIA Emerging CDFI or Certifiable CDFI (points) TA application sections Section I: Primary Mission ................................................................................................................................................ Financing Entity ................................................................................................................................................ Target Market ................................................................................................................................................... Accountability .................................................................................................................................................... VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 PO 00000 Frm 00137 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 15 15 15 15 Certified CDFI (points) N/A N/A N/A N/A 4767 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices TABLE 17—TA BUSINESS PLAN REVIEW SCORING CRITERIA—Continued Emerging CDFI or Certifiable CDFI (points) TA application sections Certified CDFI (points) 15 N/A 5 5 5 5 5 20 20 20 20 20 Total TA Business Plan Score .................................................................................................................. sradovich on DSK3GMQ082PROD with NOTICES Development Services ...................................................................................................................................... Section II: Organization Overview ..................................................................................................................................... Management and Staff ..................................................................................................................................... Community Coordination .................................................................................................................................. Financial Performance ...................................................................................................................................... Organizational Impact ....................................................................................................................................... 100 100 Each TA Application will be evaluated by one internal CDFI Fund reviewer. Internal reviewers must complete the CDFI Fund’s conflict of interest process. The CDFI Fund’s application conflict of interest policy is located on the CDFI Fund’s website. All Applications will be reviewed in accordance with CDFI Fund standard reviewer evaluation materials for the Business Plan Review. Applications will be ranked based on Total TA Business Plan Score, in descending order. In the case of tied scores that would prohibit the Application from progressing to the next level of review, Certified Applicants will be ranked first according to each Organization Overview score, and Emerging CDFI and Certifiable CDFI Applicants will be ranked first according to the total Section I score. The CDFI Fund conducts additional levels of due diligence for Applications that are in scoring contention for an award. This due diligence includes an analysis of programmatic and financial risk factors including, but not limited to, financial stability, history of performance in managing Federal awards (including timeliness of reporting and compliance), reports and findings from audits, and the Applicant’s ability to effectively implement Federal requirements. The CDFI Fund will also evaluate the Applicant’s ability to meet certification criteria of being a legal entity and a nongovernment entity. Award amounts may be reduced as a result of this analysis in addition to consideration of the eligibility of an Applicant’s funding request and similar factors. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions. 6. Insured Depository Institutions: The CDFI Fund will consider safety and soundness information from the Appropriate Federal or State Banking Agency. If the Applicant is a CDFI VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 Depository Institution Holding Company, the CDFI Fund will consider information provided by the Appropriate Federal or State Banking Agencies about both the CDFI Depository Institution Holding Company and the Subsidiary CDFI Certified Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal or State Agency identifies safety and soundness concerns, the CDFI Fund will assess whether the concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested. 7. Non-Regulated Institutions: In accordance with the CDFI Program’s authorizing statute and regulations, the CDFI Fund must ensure, to the maximum extent practicable, that recipients which are non-regulated CDFIs are financially and managerially sound, and maintain appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). Further, the CDFI Fund must determine that an Applicant’s capacity to operate as a CDFI and its continued viability will not be dependent upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is determined the Applicant is incapable of meeting these requirements, the CDFI Fund reserves the right to deem the Applicant ineligible or terminate the award. B. Anticipated Award Announcement: The CDFI Fund anticipates making CDFI Program award announcements after September 10, 2018 and before September 30, 2018. C. Application Rejection: The CDFI Fund reserves the right to reject an Application if information (including administrative errors) comes to the CDFI Fund’s attention that: Adversely affects an Applicant’s eligibility for an award; adversely affects the Recipient’s certification as a CDFI (to the extent that the award is conditional upon CDFI certification); adversely affects the CDFI PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 Fund’s evaluation or scoring of an Application; or indicates fraud or mismanagement on the Applicant’s part. If the CDFI Fund determines any portion of the Application is incorrect in a material respect, the CDFI Fund reserves the right, in its sole discretion, to reject the Application. The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures, if the CDFI Fund deems it appropriate. If the changes materially affect the CDFI Fund’s award decisions, the CDFI Fund will provide information about the changes through its website. The CDFI Fund’s award decisions are final, and there is no right to appeal the decisions. D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund reviewers are selected based on criteria that includes a professional background in community and economic development finance, and experience reviewing the financial statements of all CDFI institution types. Reviewers must complete the CDFI Fund’s conflict of interest process and be approved by the CDFI Fund. The CDFI Fund’s application reader conflict of interest policy is located on the CDFI Fund’s website. VI. Federal Award Administration Information A. Award Notification: Each successful Applicant will receive an email ‘‘notice of award’’ notification from the CDFI Fund stating that its Application has been approved for an award. Each Applicant not selected for an award will receive an email stating that a debriefing notice has been provided in its AMIS account. B. Assistance Agreement: Each Applicant selected to receive an award must enter into an Assistance Agreement with the CDFI Fund in order to receive a payment(s). The Assistance Agreement will set forth the award’s terms and conditions, including but not E:\FR\FM\01FEN1.SGM 01FEN1 4768 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices be limited to the: (i) Award amount; (ii) award type; (iii) award uses; (iv) eligible use of funds; (v) performance goals and measures; and (vi) reporting requirements. FA Assistance Agreements have three-year periods of performance. TA Assistance Agreements have two-year periods of performance for Certified CDFIs and three-year periods of performance for Emerging CDFIs or Certifiable CDFIs. 1. Certificate of Good Standing: All FA and TA Recipients that are not Insured Depository Institutions will be required to provide the CDFI Fund with a certificate of good standing from the secretary of state for the Recipient’s jurisdiction of formation prior to closing. This certificate can often be acquired online on the secretary of state website for the Recipient’s jurisdiction of formation and must generally be dated within 180 days prior to the date the Recipient executes the Assistance Agreement. Due to potential backlogs in state government offices, Applicants are advised to submit requests for certificates of good standing no later than 60 days after they submit their Applications. 2. Closing: Pursuant to the Assistance Agreement, there will be an initial closing at which point the Assistance Agreement and related documents will be properly executed and delivered, and an initial payment of FA or TA may be made. FA Recipients that are subject to the matching funds requirement will not receive a payment until 100 percent of their matching funds are In-Hand. The first payment is the estimated amount of award that the Recipient states in its Application that it will use for eligible FA or TA activities in the first 12 months after the award. The CDFI Fund reserves the right to increase the first payment amount on any award to ensure that any subsequent payments are greater than $25,000 for FA and $5,000 for TA awards. The CDFI Fund will minimize the time between the Recipient incurring costs for eligible activities and award payment in accordance with the Uniform Requirements. The advanced payments for eligible activities will occur no more than one year in advance of the Recipient incurring costs for the eligible activities. Following the initial closing, there may be subsequent closings involving additional award payments. Any documentation in addition to the Assistant Agreement that is connected with such subsequent closings and payments shall be properly executed and timely delivered by the Recipient to the CDFI Fund. 3. Requirements Prior to Entering into an Assistance Agreement: If, prior to entering into an Assistance Agreement, information (including administrative errors) comes to the CDFI Fund’s attention that: adversely affects the Recipient’s eligibility for an award; adversely affects the Recipient’s certification as a CDFI (to the extent that the award is conditional upon CDFI certification); adversely affects the CDFI Fund’s evaluation of the Application; indicates that the Recipient is not in compliance with any requirement listed 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 such other actions as it deems appropriate. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to return the Assistance Agreement, signed by the authorized representative of the Recipient, and/or provide the CDFI Fund with any other requested documentation, within the CDFI Fund’s deadlines. In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA pending the criteria described in the following table: TABLE 18—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT Requirement Criteria Failure to meet reporting requirements. • If a Recipient received a prior award under any CDFI Fund program and is not current with the reporting requirements of the previously executed agreement(s), the CDFI Fund may delay entering into an Assistance Agreement or disbursing an award until reporting requirements are met. • If such a Recipient is unable to meet the requirement within the timeframe specified, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • The automated systems the CDFI Fund uses only acknowledge a report’s receipt and it not a determination of meeting reporting requirements. • An FA Recipient must be a Certified CDFI prior to entering into an Assistance Agreement. • If an FA Recipient fails to maintain CDFI Certification, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. • The CDFI Fund will delay entering into an Assistance Agreement with a Recipient that has pending noncompliance issues with any of its previously executed CDFI award agreement(s), if the CDFI Fund has not yet made a final compliance determination. • If the Recipient is unable to satisfactorily resolve the compliance issues, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • If, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that a Recipient is noncompliant with any previously executed CDFI award agreement(s) and the CDFI Fund has provided written notification that the Recipient is ineligible to apply for or receive any future awards or allocations for a time period specified by the CDFI Fund in writing, the CDFI Fund may delay entering into an Assistance Agreement until the Recipient has cured the default by taking actions the CDFI Fund has specified within the specified timeframe. If the Recipient is unable to meet the cure requirement within the specified timeframe, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. • If prior to entering into an Assistance Agreement under this NOFA, the Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. § 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101–6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. Failure to maintain CDFI Certification. Pending resolution of noncompliance. sradovich on DSK3GMQ082PROD with NOTICES Noncompliance status ..................... Compliance with Federal civil rights requirements. VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 PO 00000 Frm 00139 Fmt 4703 Sfmt 4703 E:\FR\FM\01FEN1.SGM 01FEN1 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices 4769 TABLE 18—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT—Continued Requirement Criteria Do Not Pay ..................................... • The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. • The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient is identified as an ineligible recipient in the Do Not Pay database. • If it is determined the Recipient is, or will be, incapable of meeting its award obligations, the CDFI Fund will deem the Recipient to be ineligible, or require it to improve safety and soundness conditions prior to entering into an Assistance Agreement. Safety and soundness .................... C. Reporting performance, the CDFI Fund may collect information from each Recipient 1. Reporting requirements: On an annual basis for the period of including, but not limited to, an Annual Report with the following components: TABLE 19—ANNUAL REPORTING REQUIREMENTS Financial Statement Audit Report (Non-profit Recipient). Financial Statement Audit Report (For-Profit Recipient). Single Audit Report (if applicable) (or similar report). Institution Level Report (ILR) .......... Transaction Level Report (TLR) ..... Federal Financial Report/OMB Standard Form 425. Uses of Award Report .................... Shareholders Report ....................... sradovich on DSK3GMQ082PROD with NOTICES Performance Progress Report ........ A Non-profit Recipient must submit a Financial Statement Audit (FSA) report in AMIS, along with the Recipient’s statement of financial condition audited or reviewed by an independent certified public accountant, if any are prepared. Under no circumstances should this be construed as the CDFI Fund requiring the Recipient to conduct or arrange for additional audits not otherwise required under Uniform Requirements or otherwise prepared at the request of the Recipient or parties other than the CDFI Fund. For-profit Recipients must submit a Financial Statement Audit report in AMIS, along with a statement of financial condition audited or reviewed by an independent certified public accountant. If a Recipient is required to complete a Single Audit Report, it should be submitted to the Federal Audit Clearinghouse (see 2 CFR Subpart F—Audit Requirements in the Uniform Requirements) and AMIS (optional). For-profit Recipients are required to complete and submit a similar report directly to the CDFI Fund. The ILR is a report used to collect compliance and performance data from CDFI Fund Recipients. The ILR is submitted through AMIS and captures organizational information, financial position, lending and investing activities, community development outputs, and development services. • A CDFI Subsidiary Insured Depository Institution that receives a transfer of any portion of an FA award from a CDFI Depository Institution Holding Company Recipient must also submit an ILR. The TLR is a report used to collect compliance and performance data from CDFI Fund Recipients. The TLR is submitted through AMIS and captures data on each individual loan and investment in the Recipient’s portfolio. • A CDFI Subsidiary Insured Depository Institutions that receives a transfer of any portion of an FA award from a CDFI Depository Institution Holding Company Recipient must also submit a TLR. • The TLR is not required for TA Recipients. If the Recipient receives a TA award, it must submit the Federal Financial Report/OMB Standard Form 425 via AMIS. If the Recipient receives an FA or TA award, it must submit the Uses of Award Report via AMIS. If the Assistance is in the form of an Equity Investment, the Recipient must submit shareholder information to the CDFI Fund showing the class, series, number of shares and valuation of capital stock held or to be held by each shareholder. The Shareholder Report must be submitted for as long as the CDFI Fund is an equity holder. If the Recipient receives an FA or TA award, it must submit information on the status of compliance with the performance goals and measures via AMIS. Each Recipient is responsible for the timely and complete submission of the Annual Reporting requirements. The CDFI Fund reserves the right to contact the Recipient and additional entities or signatories to the Assistance Agreement to request additional information and documentation. The CDFI Fund will use such information to monitor each Recipient’s compliance with the requirements in the Assistance Agreement and to assess the impact of the CDFI Program. The CDFI Fund reserves the right, in its sole discretion, to modify these reporting requirements, including increasing the scope and frequency of reporting, if it determines it to be appropriate and necessary; VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 however, such reporting requirements will be modified only after notice to Recipients. 2. Financial Management and Accounting: The CDFI Fund will require Recipients to maintain financial management and accounting systems that comply with Federal statutes, regulations, and the terms and conditions of the Federal award. These systems must be sufficient to permit the preparation of reports required by general and program specific terms and conditions, including the tracing of funds to a level of expenditures adequate to establish that such funds have been used according to the Federal PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 statutes, regulations, and the terms and conditions of the Federal award. The cost principles used by Recipients must be consistent with Federal cost principles and support the accumulation of costs as required by the principles, and must provide for adequate documentation to support costs charged to the CDFI Program award. In addition, the CDFI Fund will require Recipients to: Maintain effective internal controls; comply with applicable statutes, regulations, and the Assistance Agreement; evaluate and monitor compliance; take action when not in compliance; and safeguard personally identifiable information. E:\FR\FM\01FEN1.SGM 01FEN1 4770 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices VII. Agency Contacts A. The CDFI Fund will respond to questions concerning this NOFA and the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern Daylight Savings Time, starting on the date that the NOFA is published through the date listed in Table 1 and Table 12. The CDFI Fund strongly recommends applicants submit questions to the CDFI Fund via an AMIS service request to the CDFI Program, Certification, Compliance Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on its website responses to reoccurring questions received about this Application. Other information regarding the CDFI Fund and its programs may be obtained from the CDFI Fund’s website at https:// www.cdfifund.gov. Table 20 lists CDFI Fund contact information: TABLE 20—CONTACT INFORMATION Preferred method Telephone No. (not toll free) CDFI Program ................................... CCME ................................................ AMIS—IT Help Desk ......................... sradovich on DSK3GMQ082PROD with NOTICES Type of question Service Request via AMIS ............... Service Request via AMIS ............... Service Request via AMIS ............... 202–653–0421, option 1 .................. 202–653–0423 ................................. 202–653–0422 ................................. B. Information Technology Support: For IT Assistance, submit an AMIS Service Request (Record Type of ‘‘General Inquiry’’). In the Service Request form, select the appropriate program, then select ‘‘AMIS Technical Problem’’ as the Type. People who have visual or mobility impairments that prevent them from using the CDFI Fund’s website 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 the contact information in AMIS to communicate with Applicants and Recipients. It is imperative, therefore, that Applicants, Recipients, Subsidiaries, Affiliates, and signatories maintain accurate contact information in their accounts. This includes information such as contact names (especially for the Authorized Representative) listed in this NOFA’s application materials, email addresses, fax and phone numbers, and office locations. D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services from the 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). VerDate Sep<11>2014 19:34 Jan 31, 2018 Jkt 244001 VIII. Other Information A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an agency may not conduct or sponsor a collection of information, and an individual is not required to respond to a collection of information, unless it displays a valid OMB control number. If applicable, the CDFI Fund may inform Applicants that they do not need to provide certain Application information otherwise required. Pursuant to the Paperwork Reduction Act, the CDFI Program, and NACA Program Application has been assigned the following control number: 1559– 0021. The DF–FA questions have been assigned the following control number: 1559—New. B. Application Information Sessions: The CDFI Fund may conduct webinars or host information sessions for organizations that are considering applying to, or are interested in learning about, the CDFI Fund’s programs. For further information, visit the CDFI Fund’s website at https:// www.cdfifund.gov. Authority: 12 U.S.C. 4701, et seq; 12 CFR parts 1805 and 1815; 2 CFR part 200. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2018–01997 Filed 1–31–18; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names SUMMARY: PO 00000 Frm 00141 Fmt 4703 Sfmt 4703 Email addresses cdfihelp@cdfi.treas.gov. ccme@cdfi.treas.gov. AMIS@cdfi.treas.gov. of one or more persons and vessels that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons, and these vessels, are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. DATES: See SUPPLEMENTARY INFORMATION section. FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202–622–2490; Assistant Director for Licensing, tel.: 202–622–2480; or the Department of the Treasury’s Office of the General Counsel: Office of the Chief Counsel (Foreign Assets Control), tel.: 202–622– 2410. SUPPLEMENTARY INFORMATION: Electronic Availability The Specially Designated Nationals and Blocked Persons List and additional information concerning OFAC sanctions programs are available on OFAC’s website (www.treasury.gov/ofac). Notice of OFAC Action(s) A. On January 24, 2018, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons, and the following vessels subject to U.S. jurisdiction, are blocked pursuant to the relevant sanctions authorities listed below. Dealings in property subject to U.S. jurisdiction in which a person identified as Government of North Korea has an interest are prohibited effective as of the date of that status, which may be earlier than the date of OFAC’s determination. E:\FR\FM\01FEN1.SGM 01FEN1

Agencies

DEPARTMENT OF THE TREASURY

[Federal Register Volume 83, Number 22 (Thursday, February 1, 2018)]
[Notices]
[Pages 4750-4770]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-01997]

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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for Financial Assistance (FA) awards or Technical
Assistance (TA) grants under the Community Development Financial
Institutions Program (CDFI Program) fiscal year (FY) 2018 Funding
Round.
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2018-FATA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
Dates:

Table 1--FY 2018 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Time (eastern time--
Description Deadline ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to contact Certification, February 28, 2018..... 11:59 p.m............. Service Request via Award
Compliance Monitoring and Management Information
Evaluation (CCME) staff regarding System (AMIS).
CDFI Certification.
CDFI certification applications.... March 2, 2018......... 11:59 p.m............. Electronically via AMIS.
Create AMIS Account (New March 2, 2018......... 11:59 p.m............. AMIS.
Applicants).
SF424 (Application for Federal March 2, 2018......... 11:59 p.m............. Electronically via
Assistance). Grants.gov.
Last day to contact CDFI Program April 2, 2018......... 5:00 p.m.............. Service Request via AMIS Or
staff. CDFI Fund Helpdesk: 202-
653-0421.
CDFI Program Application for April 4, 2018......... 11:59 p.m............. AMIS.
Financial Assistance (FA) or
Technical Assistance (TA).
----------------------------------------------------------------------------------------------------------------

Executive Summary: Through the CDFI Program, the CDFI Fund provides
(i) FA awards of up to $1 million to Certified Community Development
Financial Institutions (CDFIs) to build their financial capacity to
lend to their Target Markets, and (ii) TA grants of up to $125,000 to
build Certified, Certifiable, and Emerging CDFIs' organizational
capacity to serve their Target Markets. All awards provided through
this NOFA are subject to funding availability.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development Banking and Financial Institutions Act of 1994 to promote
economic revitalization and community development through investment in
and assistance to CDFIs. Since its creation in 1994, the CDFI Fund has
awarded more than $2.5 billion to CDFIs, community development
organizations, and financial institutions through the Community
Development Financial Institutions Program (CDFI Program), the Native
American CDFI Assistance Program (NACA Program), the Bank Enterprise
Award Program (BEA Program), the Capital Magnet Fund, and the Financial
Education and Counseling Pilot Program. In addition, the CDFI Fund has
allocated more than $50.5 billion in tax credit allocation authority
through the New Markets Tax Credit Program (NMTC Program) and has
guaranteed $1.36 billion in bonds for Eligible CDFIs through the CDFI
Bond Guarantee Program.
B. Priorities: Through the CDFI Program's FA awards and TA grants,
the CDFI Fund invests in and builds the capacity of for-profit and non-
profit community based lending organizations known as CDFIs. These
organizations, certified as CDFIs by the CDFI Fund, serve rural and
urban low-income people, and communities across the nation that lack
adequate access to affordable financial products and services.
C. Authorizing Statutes and Regulations: The CDFI Program is
authorized by the Riegle Community Development Banking and Financial
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.). The
regulations governing the CDFI Program are found at 12 CFR parts 1805
and 1815 (the Regulations) and set forth evaluation criteria and other
program requirements. The CDFI Fund encourages Applicants to review the
Regulations; this NOFA; the Application; and the Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal
Awards (2 CFR 200; 78 Federal Register 78590) (the Uniform
Requirements) for a complete understanding of the program. Capitalized
terms in this NOFA are defined in the authorizing statute, the
Regulations, this NOFA, the Application, or the Uniform Requirements.
Details regarding Application content requirements are found in the
Application and related materials.
D. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR 200): The Uniform Requirements
codify financial, administrative, procurement, and program management
standards that Federal award agencies 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, the soundness of
its business plan, history of performance, ability to achieve
measurable impacts through its

[[Page 4751]]

products and services, and audit findings. In addition, the Uniform
Requirements include guidance on audit requirements and other award
compliance requirements for Recipients.
E. Funding Limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA.

II. Federal Award Information

A. Funding Availability

1. FY 2018 Funding Round: The CDFI Fund expects to award, through
this NOFA, approximately $183.5 million as indicated in the following
table:

Table 2--FY 2018 Funding Round Anticipated Category Amounts
--------------------------------------------------------------------------------------------------------------------------------------------------------
Estimated Award amount Estimated Estimate
Funding categories (see definition in Table 7 for TA or total amount -------------------------------- number of average amount Average amount
Table 8 for FA) to be awarded awards for FY awarded in FY awarded in FY
(millions) Minimum Maximum 2018 2018 2017
--------------------------------------------------------------------------------------------------------------------------------------------------------
FA: Category I/Small and/or Emerging CDFI Assistance $19 $200,000 $700,000 40 $475,000 $478,000
(SECA).................................................
FA: Category II/Core.................................... 117.6 500,000 1,000,000 160 735,000 810,000
Persistent Poverty Counties--Financial Assistance (PPC- 18.4 100,000 300,000 100 184,000 210,000
FA)....................................................
Disability Funds--Financial Assistance (DF-FA)*......... 2.5 100,000 500,000 10 250,000 N/A
TA...................................................... 4 10,000 125,000 35 114,000 116,000
Healthy Food Financing Initiative--Financial Assistance 22 500,000 5,000,000 10 2,200,000 1,700,000
(HFFI-FA) *............................................
-----------------------------------------------------------------------------------------------
Total............................................... 183.5 .............. .............. 355 .............. ..............
--------------------------------------------------------------------------------------------------------------------------------------------------------
* DF-FA and HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

The CDFI Fund reserves the right to award more or less than the
amounts cited above in each category, based upon available funding and
other factors, as appropriate.
2. Funding Availability for the FY 2018 Funding Round: Funds for
the FY 2018 Funding Round are subject to change based on passage of a
final FY 2018 budget; if Congress does not appropriate funds for the
CDFI Program there will not be an FY 2018 Funding Round. If funds are
appropriated, the amount of such funds may be greater or less than the
amounts set forth above. The CDFI Fund reserves the right to contact
applicants to seek additional information in the event that final FY
2018 appropriations for the CDFI Program change any of the requirements
of this NOFA. As of the date of this NOFA, the CDFI Fund is operating
under a continuing funding resolution as enacted by the Extension of
the Continuing Appropriations Act, 2018 (Pub. L. 115-120) and
Supplemental Appropriations for Disaster Relief Requirements Act, 2017
(Pub. L. 115-56).
3. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2018 Funding Round
will begin in late September 2018. Specifically, the period of
performance for TA grants begins with the date of the notice of the
award and includes either (i) an Emerging or Certifiable CDFI
Recipient's three full consecutive fiscal years after the date of the
notice of the award or (ii) a Certified CDFI Recipient's two full
consecutive fiscal years after the date of the award announcement,
during which the Recipient must meet the performance goals set forth in
the Assistance Agreement. The period of performance for FA awards
begins with the date of the award announcement and includes a
Recipient's three full consecutive fiscal years after the date of the
notice of the award, during which time the Recipient must meet the
performance goals set forth in the Assistance Agreement.
B. Types of Awards: Through the CDFI Program, the CDFI Fund
provides two types of awards: Financial Assistance (FA) and Technical
Assistance (TA) awards. An Applicant may submit an Application for a TA
grant or an FA award, but not both.
1. FA Awards: FA awards can be in the form of loans, grants, Equity
Investments, deposits and credit union shares. The form of the FA award
is based on the form of the matching funds that the Applicant includes
in its Application, unless Congress waives the matching funds
requirement. Matching funds are required for FA awards, must be from
non-Federal sources, and cannot have been used as matching funds for
any other Federal award. The CDFI Fund reserves the right, in its sole
discretion, to provide an FA award in an amount other than that which
the Applicant requests; however, the award amount will not exceed the
Applicant's award request as stated in its Application.
2. Persistent Poverty Counties--Financial Assistance (PPC-FA)
Awards: PPC-FA awards will be provided as a supplement to FA awards;
therefore, only those Applicants that are selected to receive an FA
award through the CDFI Program FY 2018 Funding Round will be eligible
to receive a PPC-FA award. PPC-FA awards can be in the form of loans,
grants, Equity Investment, deposits and credit union shares. The form
of the PPC-FA award is based on the form of the matching funds that the
Applicant includes in its Application, unless Congress waives the
matching funds requirement. Matching funds are required for PPC-FA
awards, must be from non-Federal sources, and cannot have been used as
matching funds for any other Federal award. The CDFI Fund reserves the
right, in its sole discretion, to provide a PPC-FA award in an amount
other than that which the Applicant requests; however, the award amount
will not exceed the Applicant's award request as stated in its
Application.
The PPC-FA award is evaluated independently from the FA award and
will not affect the FA award evaluation or amount.
3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA
awards will be provided as a supplement to FA awards; therefore, only
those Applicants that have been selected to receive an FA award through
the CDFI Program FY 2018 Funding

[[Page 4752]]

Round will be eligible to receive a DF-FA award. DF-FA awards can be in
the form of loans, grants, Equity Investments, deposits and credit
union shares. The form of the DF-FA award is based on the form of the
matching funds that the Applicant includes in its Application, unless
Congress waives the matching funds requirement. Matching funds are
required for DF-FA awards, must be from non-Federal sources, and cannot
have been used as matching funds for any other Federal award. The CDFI
Fund reserves the right, in its sole discretion, to provide a DF-FA
award in an amount other than that which the Applicant requests;
however, the award amount will not exceed the Applicant's award request
as stated in its Application. The DF-FA award is evaluated
independently from the FA award and will not affect the FA award
evaluation or amount.
4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to FA
awards; therefore, only those Applicants that have been selected to
receive an FA award through the CDFI Program FY 2018 Funding Round will
be eligible to receive an HFFI-FA award. HFFI-FA awards can be in the
form of loans, grants, Equity Investments, deposits and credit union
shares. The form of the HFFI-FA award is based on the form of the
matching funds that the Applicant includes in its Application, unless
Congress waives the matching funds requirement. Matching funds are
required for HFFI-FA awards, must be from non-Federal sources, and
cannot have been used as matching funds for any other Federal award.
The CDFI Fund reserves the right, in its sole discretion, to provide an
HFFI-FA award in an amount other than that which the Applicant
requests; however, the award amount will not exceed the Applicant's
award request as stated in its Application. The HFFI-FA award is
evaluated independently from the FA award and will not affect the FA
award evaluation or amount.
5. TA Grants: TA is provided in the form of grants. The CDFI Fund
reserves the right, in its sole discretion, to provide a TA grant in an
amount other than which the Applicant requests; however, the TA grant
amount will not exceed the Applicant's request as stated in its
Application.
C. Eligible Activities:
1. FA Awards: FA, PPC-FA, DF-FA, and HFFI-FA award funds can be
expended for activities serving Commercial Real Estate, Small Business,
Microenterprise, Community Facilities, Consumer Financial Products,
Consumer Financial Services, Commercial Financial Services, Affordable
Housing, Intermediary Lending to Non-Profits and CDFIs, and other lines
of business as deemed appropriate by the CDFI Fund in the following
five categories: (i) Financial Products; (ii) Financial Services; (iii)
Loan Loss Reserves; (iv) Development Services; and (v) Capital
Reserves. FA Recipients must meet Performance Goals, which will be
derived from projections and attestations provided by the Applicant in
its application, to achieve one or more of the following FA Objectives:
(i) Increase Volume of Financial Products or Financial Services in an
Eligible Market(s) or in the Applicant's approved Target Market; (ii)
Serve New Geographic Area or Areas; (iii) Provide New Financial
Products in an Eligible Market(s) or in the Applicant's approved Target
Market, New Financial Services in an Eligible Market(s) or in the
Applicant's approved Target Market, or New Development Services in an
Eligible Market(s) or in the Applicant's approved Target Market; and
(iv) Serve New Targeted Population or Populations. FA awards can only
be used for Direct Costs associated with an eligible activity; no
indirect expenses are allowed. Up to 15 percent of the FA award can be
used for Direct Administrative Expenses associated with an eligible FA
activity. ``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 Financial
Assistance. Direct Costs incurred to provide Development Services or
Financial Services do not constitute Direct Administrative Expenses.
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. For
purposes of this NOFA, the five eligible activity categories are
defined as follows:

Table 3--FA, PPC-FA, DF-FA, and HFFI-FA Eligible Activity Categories
------------------------------------------------------------------------
FA Eligible activity
definition--All FA
Eligible activities Eligible CDFI
FA eligible activity must be in an eligible institution
market or the types
applicant's approved
target market
------------------------------------------------------------------------
i. Financial Products......... FA expended as loans, All.
Equity Investments
and similar financing
activities (as
determined by the
CDFI Fund) including
the purchase of loans
originated by
certified CDFIs and
the provision of loan
guarantees; in the
case of CDFI
Intermediaries,
Financial Products
may also include
loans to CDFIs and/or
emerging CDFIs and
deposits in Insured
Credit Union CDFIs,
emerging Insured
Credit Union CDFIs,
and/or State-Insured
Credit Union CDFIs.
For HFFI-FA, however,
the purchase of loans
originated by
certified CDFIs is
not an Eligible
Activity.
ii. Financial Services........ FA expended for Insured
providing checking, Depository
savings accounts, Institutions
check cashing, money and Depository
orders, certified Institution
checks, deposit Holding Company
taking, safe deposit only.
box services, and Not applicable
other similar for HFFI-FA
services. Recipients.
iii. Loan Loss Reserves....... FA set aside in the All.
form of cash
reserves, or through
accounting-based
accrual reserves, to
cover losses on
loans, accounts, and
notes receivable or
for related purposes
that the CDFI Fund
deems appropriate.
iv. Development Services...... FA expended for All.
activities undertaken
by a CDFI, its
Affiliate or
contractor that
promote community
development and shall
prepare or assist
current or potential
borrowers or
investees to use the
CDFI's Financial
Products or Financial
Services. For
example, such
activities include,
financial or credit
counseling;
homeownership
counseling; and
business planning and
management assistance.

[[Page 4753]]

v. Capital Reserves........... FA set aside as Insured
reserves to support Depository
the Applicant's Institutions
ability to leverage and Depository
other capital, for Institution
such purposes as Holding Company
increasing its net only. Not
assets or providing applicable for
financing, or for DF-FA.
related purposes as
the CDFI Fund deems
appropriate.
------------------------------------------------------------------------
Eligible Market is defined as (i) a geographic area meeting the
requirements set forth in 12 CFR 1805.201(b)(3)(ii), or (ii)
individuals that are Low-Income or are African American, Hispanic or
American Indian, Native Hawaiians residing in Hawaii, Native Alaskans
residing in Alaska, and Other Pacific Islanders residing in American
Samoa, Guam or the Northern Mariana Islands.

2. DF-FA Award: DF-FA award funds can only be expended for eligible
FA activities referenced in Table 3 to directly or indirectly benefit
individuals with disabilities. The DF-FA Recipient must close Financial
Products for the primary purpose of directly or indirectly benefiting
people with disabilities in an amount equal to or greater than 85
percent of the total DF-FA provided. Such financing activities have a
primary purpose of directly or indirectly benefiting individuals with
disabilities where the majority of the DF-FA supported loans or
investments benefit individuals with disabilities. Eligible DF-FA
financing activities may include, among other activities, loans to
develop or purchase affordable, accessible, and safe housing; loans to
provide or facilitate employment opportunities; and loans to purchase
assistive technology.
For the purposes of DF- FA, a person with a Disability is: A person
who has a physical or mental impairment that substantially limits one
or more major life activities, a person who has a history or record of
such an impairment, or a person who is perceived by others as having
such an impairment, as defined by the American Disabilities Act (ADA)
at https://www.ada.gov/cguide.htm.
3. TA Grants: TA grant funds can be expended for the following
seven eligible activity categories: (i) Compensation--personnel
services; (ii) Compensation--fringe benefits; (iii) Professional
Service Costs; (iv) Travel Costs; (v) Training and Education Costs;
(vi) Equipment and other capital expenditures; and (vii) Supplies. Each
of the eligible activity categories will not be authorized for indirect
costs or an associated indirect cost rate. 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. For purposes of this NOFA, the seven
eligible activity categories are defined as follows:

Table 4--TA Eligible Activity Categories as Subject to the Applicable
Provisions of the Uniform Requirements
------------------------------------------------------------------------

------------------------------------------------------------------------
(i) Compensation--personnel TA paid to cover salaries of the
services. Applicant's personnel that are paid
currently or accrued by the
Applicant for work performed
directly related to carrying out
the purpose of the TA grant
(including activities related to
becoming certified as a CDFI).
Any work performed directly but
unrelated to the purposes of the TA
grant cannot be paid as
Compensation through a TA grant.
For example, the salaries for
building maintenance would not
carry out the purpose of a TA grant
and would be deemed unallowable.
(ii) Compensation--fringe benefits TA paid to cover costs of the
Applicant's personnel employment
(other than the employees'
salaries). The costs of fringe
benefits are allowable provided
that the benefits are reasonable
and are required by law, non-
Federal entity-employee agreement,
or an established policy of the non-
Federal entity and consistently
applied organizational policies.
(iii) Professional service costs.. TA used to pay for professional and
consultant services (e.g. such as
strategic and marketing plan
development), rendered by persons
who are members of a particular
profession or possess a special
skill (e.g. credit analysis,
portfolio management), and who are
not officers or employees of the
Recipient. Payment for a
consultant's services may not
exceed the current maximum of the
daily equivalent rate paid to an
Executive Schedule Level IV Federal
employee. Professional and
consultant services must build the
capacity of the CDFI. For example,
professional services that provide
direct development services to the
customers does not build the
capacity of the CDFI to provide
those services and would not be
eligible.
(iv) Travel costs................. TA used to pay expenses for
transportation, lodging,
subsistence, and related items
incurred by the Applicant's
personnel (does not include
consultants or board members) who
are on travel status on business
related to the TA grant. Any
payments for travel expenses
incurred by the Applicant's
personnel but unrelated to carrying
out the purpose of the TA grant
would be deemed unallowable. As
such, documentation must be
maintained that justifies the
travel as necessary to the TA
grant.
(v) Training and education costs.. TA used to pay the cost of training
and education provided for employee
development. TA can only be used to
pay for training costs incurred by
the Applicant's personnel (does not
include consultants or board
members).
(vi) Equipment.................... TA used to pay for tangible personal
property, having a useful life of
more than one year and a per-unit
acquisition cost of at least
$5,000. For example, items such as
office furnishings and information
technology systems are allowable as
Equipment costs. The Recipient must
comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C.
8301-8303 with respect to the
purchase of Equipment.
(vii) Supplies.................... TA used to pay for tangible personal
property with a per unit
acquisition cost of less than
$5,000. For example, a desktop
computer costing $1,000 is
allowable as a Supply cost. The
Recipient must comply, as
applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303
with respect to the purchase of
Supplies.

[[Page 4754]]

(viii) Unallowable Costs.......... The following costs are unallowable
and cannot be paid for with a TA
grant (but not limited to per the
UAR):
Selling or marketing
products or services of the non-
federal entity that are not
directly related to building the
capacity of the CDFI
Advertising media,
including printing of materials,
the cost of displays,
demonstrations, and exhibits that
are not directly related to
building the capacity of the CDFI
Promotional items and
memorabilia
Advertising and public
relations designed solely to
promote the non-Federal entity that
are not directly related to
building the capacity of the CDFI
Facilities acquisition/
development costs
Fees, including fees paid
to brokers, promoters, organizers,
management consultants, attorneys,
accountants, or investment
counselor
Memberships in country
clubs or organizations whose
primary purpose is lobbying
Audit costs for audits
either: (1) Required under the
Single Audit Act but have not been
conducted or have been conducted
but not in accordance with the
Single Audit Act requirements; or
(2) for a non-Federal entity that
is exempted from having an audit
conducted in the Single Audit act
------------------------------------------------------------------------

4. HFFI-FA Award: HFFI-FA award funds can only be expended for
eligible FA activities referenced in Table 3. The HFFI-FA investments
must comply with the following guidelines:
a. Recipient must close Financial Products for Healthy Food Retail
Outlets and Healthy Food Non-Retail Outlets in its Target Market in an
amount equal to or greater than 100 percent of the total HFFI Financial
Assistance provided. Eligible financing activities to Healthy Food
Retail Outlets and Healthy Food Non-Retail Outlets require that the
majority of the loan or investment be devoted to offering a range of
Healthy Food choice, which may include, among other activities,
investments supporting an existing retail store or wholesale operation
upgrade to offer an expanded range of Healthy Food choices, or
supporting a nonprofit organization that expands the availability of
Healthy Foods in underserved areas.
b. Recipient must demonstrate that it has closed Financial Products
to Healthy Food Retail Outlets located in Food Deserts in the
Recipient's Target Market in an amount equal to 75% of the total HFFI
Financial Assistance provided.

Definitions

Healthy Foods. Healthy Foods include unprepared nutrient-dense
foods and beverages as set forth in the USDA Dietary Guidelines for
Americans 2015-2020 including whole fruits and vegetables, whole
grains, fat free or low-fat dairy foods, lean meats and poultry (fresh,
refrigerated, frozen or canned). Healthy Foods should have low or no
added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See
USDA Dietary Guidelines: https://www.choosemyplate.gov/dietary-guidelines.)
Healthy Food Retail Outlets. Commercial sellers of Healthy Foods
including, but not limited to, grocery stores, mobile food retailers,
farmers markets, retail cooperatives, corner stores, bodegas, stores
that sell other food and non-food items along with a range of Healthy
Foods, as those terms are determined and defined by the CDFI Fund in
the Assistance Agreement and related compliance materials.
Healthy Food Non-Retail Outlets. Wholesalers of Healthy Foods
including, but not limited to, wholesale food outlets, wholesale
cooperatives, or other non-retail food producers that supply for sale a
range of Healthy Food options; entities that produce or distribute
Healthy Foods for eventual retail sale, and entities that provide
consumer education regarding the consumption of Healthy Foods, as those
terms are determined and defined by the CDFI Fund in the Assistance
Agreement and related compliance materials.
Food Deserts. Distressed geographic areas where either a
substantial number or share of residents has low access to a
supermarket or large grocery store. For the purpose of satisfying this
requirement, a Food Desert must either: (1) Be a census tract
determined to be a Food Desert by the U.S. Department of Agriculture
(USDA), in its USDA Food Access Research Atlas; (2) be a census tract
adjacent to a census tract determined to be a Food Desert by the USDA,
in its USDA Food Access Research Atlas; which has a median family
income less than or equal to 120 percent of the applicable Area Median
Family Income; or (3) be a Geographic Unit as defined in 12 CFR part
1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the
criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been
identified as having low access to a supermarket or grocery store
through a methodology that has been adopted for use by another
governmental or philanthropic healthy food initiative.
5. PPC-FA Award: PPC-FA award funds can only be expended for
eligible FA activities referenced in Table 3. The PPC-FA Recipient must
close Financial Products to an Eligible Market or in the Applicant's
approved Target Market in a Persistent Poverty Counties (PPC) in an
amount equal to or greater than 100 percent of the total PPC Financial
Assistance provided. The specific counties that meet the criteria for
``persistent poverty'' can be found at: https://www.cdfifund.gov/Documents/Persistent%20Poverty%20Counties%20CDFI%20Fund%20July6-2017.xlsx.

III. Eligibility Information

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

[[Page 4755]]

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

------------------------------------------------------------------------
Certified CDFI.................... An entity that the CDFI
Fund has officially notified that
it meets all CDFI certification
requirements.
Certifiable CDFI.................. An entity that has
submitted a CDFI certification
application to the CDFI Fund
demonstrating that it meets the
CDFI certification requirements but
which has not yet been officially
certified. (See Table 12 for
application submission deadlines.)
The CDFI Fund will not
enter into an Assistance Agreement
or make an FA award payment unless
and until an Applicant is a
Certified CDFI.
The CDFI Fund will enter
into an Assistance Agreement if the
Applicant is awarded a TA award
regardless of the Applicant's
certification status.
Emerging CDFI (TA Applicants)..... A non-Certified entity that
has not submitted a CDFI
certification application but
demonstrates to the CDFI Fund in
its Application that it has an
acceptable plan to meet CDFI
certification requirements by the
end of its period of performance,
or another date that the CDFI Fund
selects.
An Emerging CDFI that has
prior award(s) will be held to the
CDFI certification performance goal
and measure(s) stated in its prior
Assistance Agreement(s).
Emerging CDFIs may only
apply for TA grants; they are not
eligible to apply for FA awards.
Emerging CDFI selected to
receive a TA grant will be required
to become a Certified CDFI by a
date specified in the Assistance
Agreement.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
Applicant......................... Only the entity that will
carry out the proposed award
activities can apply for an award
(i.e., the intended Recipient,
other than Depository Institution
Holding Companies (see below)).
Recipients cannot create a new
legal entity to carry out the
proposed award activities.
The information in the
Application should only reflect the
activities of the Applicant,
including the presentation of
financial and portfolio
information. Do not include
financial or portfolio information
from parent companies, Affiliates,
or Subsidiaries in the Application
unless it relates to the provision
of Development Services.
An Applicant that applies
on behalf of another organization
will be rejected without further
consideration, other than
Depository Institution Holding
Companies (see below).
Application type and submission Applicants must submit the
overview through Grants.gov and required application documents
Awards Management Information listed in Table 10.
System (AMIS). The CDFI Fund will only
accept Applications that use the
official application templates
provided on the Grants.gov and AMIS
websites. Applications submitted
with alternative or altered
templates will not be considered.
Applicants have a two-step
process that requires the
submission of application documents
on two separate deadlines and
locations: (1) the SF-424 in
Grants.gov and (2) all other
required application materials in
AMIS.
Grants.gov and the SF-424:
[cir] Grants.gov: Applicants must
submit the Office of Management and
Budget (OMB) Standard Form (SF) OMB
SF-424, Application for Federal
Assistance.
[cir] All Applicants must register
in the Grants.gov system to
successfully submit an application.
The Grants.gov registration process
can take 30 days or more to
complete. The CDFI Fund strongly
encourages applicants to register
as early as possible.
[cir] The CDFI Fund will not extend
the SF-424 (or AMIS) application
deadline for any Applicant that
started the Grants.gov registration
process on, before, or after the
date of the publication of this
NOFA, but did not complete it by
the deadline except in the case of
a Federal government administrative
or technological error that
directly resulted in a late
submission of the SF-424.
[cir] The SF-424 must be submitted
in Grants.gov on or before March 2,
2018, the deadline listed in Table
1 and Table 12. Applicants are
strongly encouraged to submit their
SF-424 as early as possible in the
Grants.gov portal.
[cir] The deadline for the
Grants.gov submission is before the
AMIS deadline.
[cir] The SF-424 must be submitted
under the CDFI Program Funding
Opportunity Number.
[cir] If the SF-424 is not accepted
by Grants.gov by the deadline, the
CDFI Fund will not review any
material submitted in AMIS and the
application will be deemed
ineligible.
AMIS and all other required
application materials:
[cir] AMIS is an enterprise-wide
information technology system that
replaced the myCDFI Fund portal.
Applicants will use AMIS to submit
and store organization and
application information with the
CDFI Fund.
[cir] Applicants are only allowed
one CDFI Program Application
submission in AMIS.
[cir] Each Application in AMIS must
be signed by an Authorized
Representative.
[cir] Applicants must ensure that
the Authorized Representative is
authorized to sign legal documents
on behalf of the organization;
consultants working on behalf of
the organization cannot be
designated as Authorized
Representatives.
[cir] Only the Authorized
Representative or Application Point
of Contact, included in the
Application, can submit the
Application in AMIS.
[cir] All required application
materials must be submitted in AMIS
on or before the deadline specified
in Tables 1 and 12.
Employer Identification Number Applicants must have a
(EIN). unique EIN assigned by the Internal
Revenue Service (IRS).
The CDFI Fund will reject
an Application submitted with the
EIN of a parent or Affiliate
organization.
Dun & Bradstreet, (DUNS) number... Pursuant to OMB guidance
(68 FR 38402), an Applicant must
apply using its unique DUNS number
in Grants.gov.
The CDFI Fund will reject
an Application submitted with the
DUNS number of a parent or
Affiliate organization.

[[Page 4756]]

System for Award Management (SAM). SAM is a web-based,
government-wide application that
collects, validates, stores, and
disseminates business information
about the federal government's
trading partners in support of the
contract awards, grants, and
electronic payment processes.
Applicants must register in
SAM as part of the Grants.gov
registration process.
Applicants must have a DUNS
number and an EIN number in order
to register in SAM.
Applicants must be
registered in SAM before they can
submit an SF-424 in Grants.gov.
AMIS Accounts..................... Each Applicant must
register as an organization in AMIS
and submit all required application
materials through the AMIS portal.
The Application of any
organization that does not properly
register in AMIS by the deadline
set forth in Table 1--FY 2018 CDFI
Program Funding Round Critical
Deadlines for Applicants--will be
rejected without further
consideration.
The Authorized
Representative and/or Application
Point of Contact must be included
as ``users'' in the Applicant's
AMIS account.
An Applicant that fails to
properly register and update its
AMIS account may miss important
communication from the CDFI Fund or
not be able to successfully submit
an Application.
501 (c)(4) status................. Pursuant to 2 U.S.C. 1611,
any 501 (c)(4) organization that
engages in lobbying activities is
not eligible for the receipt of a
CDFI or NACA Program award.
Compliance with Nondiscrimination An Applicant may not be
and Equal Opportunity Statutes, eligible to receive an award if
Regulations, and Executive Orders. proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination within the last three
years indicates the Applicant has
violated any of the following laws
but not limited to: Title VI of the
Civil Rights Act of 1964, as
amended (42 U.S.C.2000d); Section
504 of the Rehabilitation Act of
1973 (29 U.S.C. 794); the Age
Discrimination Act of 1975, (42
U.S.C. 6101-6107), and Executive
Order 13166, Improving Access to
Services for Persons with Limited
English Proficiency.
Depository Institution Holding In the case where a CDFI
Company Applicant. Depository Institution Holding
Company Applicant intends to carry
out the activities of an award
through its Subsidiary CDFI Insured
Depository Institution, the
Application must be submitted by
the CDFI Depository Institution
Holding Company and reflect the
activities and financial
performance of the Subsidiary CDFI
Insured Depository Institution.
Authorized representatives
of both the Depository Institution
Holding Company and the Subsidiary
CDFI Insured Depository Institution
must certify that the information
included in the Application
represents that of the Subsidiary
CDFI Insured Depository
Institution, and that the award
funds will be used to support the
Subsidiary CDFI Insured Depository
Institution for the eligible
activities outlined in the
Application.
Insured CDFI--Insured Credit Union To be eligible for an
and Insured Depository award, each Insured Depository
Institution. Institution Applicant must have a
CAMELS/CAMEL rating (rating for
banks and credit unions,
respectively), by its Federal
regulator of at least ``3''.
Organizations with CAMELS/
CAMEL ratings of ``4 or 5'' will
not be eligible for awards.
The CDFI Fund will also
evaluate materials concerns
identified by the Appropriate
Federal Banking Agency in
determining eligibility of Insured
Depository Institution Applicants.
Use of award...................... All awards made through
this NOFA must be used to support
the Applicant's activities in at
least one of the FA or TA Eligible
Activity Categories (see Section
II.C).
Awards cannot be used to
support the activities of, or
otherwise be passed through,
transferred, or co-awarded to,
third-party entities, whether
Affiliates, Subsidiaries, or others
without the CDFI Fund's prior
written consent (other than
Depository Institution Holding
Company Applicants).
The Recipient of any award
made through this NOFA must comply,
as applicable, with the Buy
American Act of 1933, 41 U.S.C.
8301-8303, with respect to any
Direct Costs.
Requested award amount............ An Applicant must state its
requested award amount in the
Application in AMIS. An Application
that does not include this amount
will not be allowed to submit an
Application.
Pending resolution of The CDFI Fund will consider
noncompliance. an Application submitted by an
Applicant that has pending
noncompliance issues of any of its
previously executed award
agreement(s), if the CDFI Fund has
not yet made a final compliance
determination.
Noncompliance status.............. The CDFI Fund will not
consider an Application submitted
by an Applicant that has a
previously executed award
agreement(s) if, as of the date of
the Application, (i) the CDFI Fund
has made a determination that such
entity is noncompliant with a
previously executed agreement and
(ii) the CDFI Fund has provided
written notification that such
entity is ineligible to apply for
or receive any future CDFI Fund
awards or allocations. Such
entities will be ineligible to
submit an Application for such time
period as specified by the CDFI
Fund in writing.
The CDFI Fund will not
consider any Applicant that has
defaulted on a CDFI Program loan
within five years of the
Application deadline.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
CDFI certification status......... (1) Emerging CDFIs (see definitions
in Table 5), or
(2) Certifiable or Certified CDFIs
(see Table 5) that meet the
following criteria:
(1) Have total assets* as of the
end of the Applicant's most
recent fiscal year end in the
following amounts:
Insured Depository
Institutions and Depository
Institution Holding Companies:
up to $250 million
Insured Credit Unions:
up to $10 million
Venture capital funds:
up to $10 million
Other CDFIs: up to $5
million
OR
(2) Have begun operations** on or
after January 1, 2014
* ``Total assets'' is defined as the
Total Assets as of Fiscal Year End
Date stated in the Applicant's AMIS
account and verified by internally
prepared financial statements and/
or audits.
** ``Have begun operations'' is
defined as the financing activity
start date indicated in the
Applicant's AMIS account.

[[Page 4757]]

Matching funds.................... Matching funds
documentation is not required for
TA awards.
Limitation on Awards.............. An Emerging CDFI will be
allowed to receive no more than
three TA awards as an uncertified
CDFI.
Proposed Activities............... Applicants must propose to
directly undertake eligible
activities with TA awards. For
example, an uncertified CDFI
Applicant must propose to become
certified as part of its
application and a Certified CDFI
Applicant must propose activities
that build its capacity to serve
its Target Market or an Eligible
Market.
Applicants may not propose
to use a TA award to create a
separate legal entity to become a
certified CDFI or otherwise
carryout the TA award activities.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
CDFI certification status......... Each FA Applicant must be a
Certified CDFI prior to the
announcement of award decisions.
The CDFI Fund will consider
an Application submitted by an
Applicant that has pending
noncompliance issues with its
Annual Certification Report, if the
CDFI Fund has not yet made a final
compliance determination.
Matching funds documentation...... All Applicants must submit
acceptable documentation attesting
that they have received or will
receive matching funds. Applicants
that do not submit the Matching
Funds Excel Workbook documenting
the source of their matching funds
will not be evaluated.
Awards will be limited to
no more than two times the amount
of In-Hand or Committed matching
funds documentation provided at the
time of Application.
Awards will be obligated in
like form to the matching funds
provided at time of Application.
See Table 9. Matching Funds
``Determination of Award Form'' for
additional guidance.
Award payments from the
CDFI Fund will require eligible
dollar-for-dollar In-Hand matching
funds for the total payment amount.
Recipients will not receive a
payment until 100 percent of their
matching funds are In-Hand.
The CDFI Fund will reduce
and de-obligate the remaining
balance of any Award that does not
demonstrate full dollar-for-dollar
matching funds equal to the
announced award amount by the end
of the Matching Funds Window.
$5 Million funding cap............ The CDFI Fund is prohibited
from obligating more than $5
million in CDFI and NACA Program
awards, in the aggregate, to any
one organization and its
Subsidiaries and Affiliates during
any three-year period.
For purposes of this NOFA
and subject to final FY 2018
appropriations language, the CDFI
Fund will include CDFI and NACA
Program final awards in the cap
calculation that were provided to
an Applicant (and/or its
Subsidiaries or Affiliates) under
the FY 2016, and 2017 funding
rounds, as well as the requested FY
2018 award, excluding DF-FA, and
HFFI-FA awards. The CDFI Fund will
make the FY 2018 funding round
award announcements after September
10, 2018.
FA Category I (SECA).............. To be an eligible SECA
Applicant, an Applicant must meet
the following criteria:
(1) Be a Certified or Certifiable
CDFI;
(2) Request $700,000 or less in
FA funds;
AND EITHER
(3) Have total assets* as of the
end of the Applicant's most
recent fiscal year end in the
following amounts:
Insured Depository
Institutions and Depository
Institution Holding Companies:
up to $250 million
Insured Credit Unions:
up to $10 million
Venture capital funds:
up to $10 million
Other CDFIs: up to $5
million
OR
(4) Have begun operations ** on
or after January 1, 2014
* ``Total assets'' is defined as the
Total Assets of Fiscal Year End
Date stated in the Applicant's AMIS
account and verified by internally
prepared financial statements and/
or audits.
** ``Have begun operations'' is
defined as the financing activity
start date indicated in the
Applicant's AMIS account.
FA Category II (Core)............. A Core Applicant must be
either a Certified or Certifiable
CDFI as defined in Table 5.
An Applicant that meets the
SECA requirements stated above, and
that requests more than $700,000 in
award funds is categorized as an FA
Category II (Core) Applicant,
regardless of its total assets and/
or years in operation.
FA Applicants With Community A CDFI Applicant can apply
Partners. for assistance jointly with a
Community Partner. The CDFI
Applicant would complete the CDFI
Program Application for (FA) and
would address the Community
Partnership in its business plan
and other sections of the
Application as specified in the
guidance materials.
The CDFI Applicant must be
either a Certified or Certifiable
CDFI as defined in Table 5.
An Application with a
Community Partner must:
[cir] Describe how the CDFI
Applicant and Community Partner
will each participate in
carrying out the partnership and
how the partnership will enhance
activities serving the
investment area or targeted
population.
[cir] Demonstrate that the
Community Partnership activities
are consistent with the
strategic plan submitted by the
CDFI--Applicant.
Assistance provided upon
approval of an Application with a
Community Partner shall only be
entrusted to the CDFI Applicant and
shall not be used to fund any
activity carried out directly by
the Community Partner or an
Affiliate or Subsidiary thereof.
PPC-FA............................ All PPC-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements; and
[cir] Provide a PPC-FA award
request amount in AMIS.

[[Page 4758]]

DF-FA............................. All DF-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the DF-FA
Application; and
[cir] Provide a DF-FA award
request amount in AMIS.
HFFI-FA........................... All HFFI-FA Applicants
must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the HFFI-FA
Application; and
[cir] Provide a HFFI-FA award
request amount in AMIS.
------------------------------------------------------------------------

B. Matching Funds Requirements: In order to receive an FA award, an
Applicant must provide evidence of eligible dollar-for-dollar matching
funds and attest that it can provide acceptable documentation upon the
CDFI Fund's request. An Applicant that uses Retained Earnings or Equity
Investments must provide documentation of eligible dollar-for-dollar
matching funds at the time of application submission. The CDFI Fund
will review matching funds information, attestations, and matching
funds documentation, if applicable, prior to award payment and will pay
funds based upon eligible In-Hand matching funds (see Table 9 for the
definition of In-Hand). The CDFI Fund encourages Applicants to review
the Regulations at 12 CFR 1805.500, the Uniform Requirements, and the
matching funds guidance materials available on the CDFI Fund's website.
Table 9 provides a summary of the matching funds requirements;
additional details are set forth in the Application materials.

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

------------------------------------------------------------------------
In-Hand matching funds definition. Matching funds are In-Hand
when the Applicant receives payment
for the matching funds from the
matching funds source and has
acceptable documentation that can
be provided to the CDFI Fund upon
request. Acceptable In-Hand
documentation must show the source,
form (e.g., grant, loan, deposit,
and Equity Investment), amount
received, and the date the funds
came into physical possession of
the Applicant.
The following
documentation, depending on the
matching funds type, must be
available to be provided to the
CDFI Fund upon request:
Loan--the loan agreement
and/or promissory note;
grant--the grant letter
or agreement;
equity investment--the
stock certificate, documentation
of total equity outstanding, and
shareholder agreement;
retained earnings--
Retained Earnings Calculator and
audited financial statements or
call reports from regulating
entity for each fiscal year
reported in Retained Earnings
Calculator;
third party in-kind
contribution- evidence of
receipt of contribution and
valuation;
deposits--certificates
of deposit agreement;
secondary capital--
secondary capital agreement and
disclosure and acknowledgement
statement;
AND
clearly legible
documentation that demonstrates
actual receipt of the matching
funds including the date of the
transaction and the amount, such
as a copy of a check or a wire
transfer statement.
Applicants must provide
information on their In-Hand
matching funds in the Matching
Funds Breakout Table Excel Workbook
(refer to Table 10--Required
Application Documents) which must
be submitted at the time of
Application.
Although Applicants are not
required to provide further
documentation for In-Hand matching
funds at the time of Application
submission, other than for Retained
Earnings and Equity Investments,
they must be able to provide
documentation to the CDFI Fund upon
request.
Matching funds requirements by The following Applicants must
application type. provide evidence of acceptable
matching funds:
Category I/SECA FA
Applicants applying for FA, PPC-FA,
and DF-FA (upon request); *
Category II/Core FA
Applicants applying for FA, PPC-FA,
and DF-FA;
and
HFFI-FA Applicants (upon
request).*
TA Applicants are not required to
provide matching funds.
* The matching funds requirement for
HFFI-FA and SECA FA applicants was
waived in the appropriations bill
for FY 2017, and final FY 2018
appropriations are pending. HFFI-FA
and SECA FA applicants are not
required to submit matching funds
for their award requests at the
time of application. However, the
CDFI Fund reserves the right to
request matching funds from HFFI-FA
and SECA FA applicants if matching
funds are not waived in the final
FY 2018 CDFI Program appropriation.
Amount of required match.......... Applicants must provide evidence of
eligible, In-Hand, dollar-for-
dollar, non-Federal matching funds
for every FA award dollar to be
paid by the CDFI Fund. If awarded,
Applicants that do not demonstrate
100 percent In-Hand matching funds
at the time of Application may
experience a longer payment
timeline.
Determination of award form....... FA awards will be made in comparable
form and value to the eligible In-
Hand and/or Committed matching
funds documentation submitted by
the Applicant.
For example, if an FA
Applicant provides documentation of
eligible loan matching funds for
$200,000 and eligible grant
matching funds of $400,000, the
CDFI Fund will obligate $200,000 of
the FA award as a loan and $400,000
as a grant.

[[Page 4759]]

After awards have been
announced, Recipients may request
the CDFI Fund's permission to
change the form of their award from
loan to grant (by producing
eligible grant matching funds), but
will only be eligible to receive a
grant equal to the federal credit
subsidy amount associated with the
original loan. Applicants will also
experience delays in payments if
requested form of award changes are
approved by the CDFI Fund.
Matching Funds Window definition.. The Applicant must receive
eligible In-Hand matching funds
between January 1, 2016 and January
15, 2019.
A Recipient must provide
the CDFI Fund with all
documentation demonstrating the
receipt of In-Hand matching funds
by January 31, 2019.
Matching funds and form of award.. Recipients will be approved
for a maximum award size of two
times the total amount of eligible
In-Hand and/or Committed matching
funds included in the Application,
so long as they do not exceed the
maximum award amount.
The form of the matching
funds documented in the Application
determines the form of the award.
Committed matching funds Matching funds are
definition. Committed when the Applicant has
entered into or received a legally
binding commitment from the
matching funds source showing the
matching funds will be disbursed to
the Applicant at a future date.
The Applicant must be able
to provide the CDFI Fund, upon
request, acceptable written
documentation showing the source,
form, and amount of the Committed
matching funds (including, in the
case of a loan, the terms thereof),
as well as the anticipated payment
date of the Committed funds.
The Applicant must provide
information on their Committed
matching funds in the Matching
Funds Breakout Table Excel Workbook
(refer to Table 10--Required
Application Documents) which must
be submitted at the time of
Application.
Although the Applicant is
not required to provide further
documentation for Committed
matching funds at the time of
Application submission, other than
for Retained Earnings, it must be
able to provide documentation to
the CDFI Fund upon request.
Limitations on matching funds..... Matching funds must be from
non-Federal sources.
Applicants cannot proffer
matching funds that were accepted
as matching funds for a prior FA
award under the CDFI Program, NACA
Program, or under another Federal
grant or award program.
Matching funds must comply
with Regulations at 12 CFR 1805.500
et seq.
Matching funds must be
attributable to at least one of the
five eligible FA activities (see
Section II.C).
Rights of the CDFI Fund........... The CDFI Fund reserves the
right to contact the matching funds
source to discuss the matching
funds and the documentation that
the Applicant provided if required
or requested.
The CDFI Fund may grant an
extension of the Matching Funds
Window (defined in Table 9), on a
case-by-case basis, if the CDFI
Fund deems it appropriate.
The CDFI Fund reserves the
right to rescind all or a portion
of an FA award and re-allocate the
rescinded award amount to other
qualified Applicant(s), if a
Recipient fails to provide evidence
of In-Hand Matching Funds totaling
its award amount obtained during
the Matching Funds Window.
Matching funds in the form of Third party in-kind
third-party in-kind contributions. contributions are non-cash
contributions (i.e., property or
services) provided by non-Federal
third parties to the Applicant.
Third party in-kind
contributions will be considered to
be in the form of a grant for
matching funds purposes.
Third party in-kind
contributions may be in the form of
real property, equipment, supplies,
and other expendable property, and
the value of goods and services
directly benefiting the eligible
activities.
For third party in-kind
contributions, the fair market
value of goods and services must be
documented as the grant match.
Applicants will be
responsible for documenting the
value of all in-kind contributions
as described in the Uniform
Requirements.
Matching funds in the form of a An FA award made in the
loan. form of a loan will have the
following standardized terms:
i. A 13-year term with semi-
annual interest-only payments
due in years 1 through 10, and
fully amortizing payments due
each year in years 11 through
13; and
ii. A fixed interest rate of 2.24
percent, which was calculated by
the CDFI Fund based on the U.S.
Department of the Treasury's 10-
year Treasury note.
The Applicant's matching
funds loan(s) must:
i. Have a minimum of a 3-year
term (loans presented as
matching funds with less than a
3-year term will not qualify as
eligible match); and
ii. be from a non-Federal source.
Severe Constraints Waiver......... In the case of an Applicant
demonstrating severe constraints on
available sources of matching
funds, the CDFI Fund, in its sole
discretion, may permit such
Applicant to comply with the
matching funds requirements by
reducing such requirements by up to
50 percent.
In order to be considered
eligible for a Severe Constraints
Waiver, an Applicant must meet all
of the SECA eligibility criteria
described in Table 8. Instructions
for requesting a Severe Constraints
Waiver will be made available if
required.
No more than 25 percent of
the total funds available for
obligation under this funding round
may be matched under the Severe
Constraints Waiver.
Ineligible matching funds......... If the CDFI Fund determines
that any portion of the Applicant's
matching funds is ineligible, the
CDFI Fund will permit the Applicant
to offer documentation of
alternative matching funds as a
substitute for the ineligible
matching funds.
In such instances:
i. The Applicant must provide
acceptable evidence of the
alternative matching funds
within the period of time
specified by the CDFI Fund, and
ii. the alternative matching
funds will not increase the
total amount of FA requested.

[[Page 4760]]

Use of matching funds from a prior If an Applicant offers matching
CDFI Program Recipient. funds documentation from an
organization that was a prior
Recipient under the CDFI Program or
NACA Program, the Applicant must be
able to prove to the CDFI Fund's
satisfaction that such funds do not
consist, in whole or in part, of
CDFI Program funds, NACA Program
funds, or other Federal funds.
Matching funds in the form of Retained earnings are
retained earnings. eligible for use as matching funds
when the CDFI Fund calculates an
amount equal to:
i. The increase in retained
earnings that occurred over any
one of the Applicant's fiscal
years within the Matching Funds
Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds used for an
award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds used for an
award; or
iii. any combination of (i) and
(ii) above that does not include
matching funds used for an
award.
Retained earnings will be
matched with an FA award in the
form of a grant.
Depository Institution
Holding Company Applicants must
provide call reports for the
Depository Institution Holding
Company in order to verify their
retained earnings, even if the
requested FA award will support its
subsidiary bank.
Special rule for Insured Credit An Insured Credit Union's
Unions and Insured Depository and Insured Depository
Institutions. Institution's retained earnings are
eligible for use as matching funds
when the CDFI Fund calculates an
amount equal to:
i. The increase in retained
earnings that occurred over any
one of the Applicant's fiscal
years within the Matching Funds
Window, adjusted to remove
revenue from Federal sources and
matching funds used for an
award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
matching funds used for an
award; or
iii. the entire retained earnings
that have been accumulated since
the inception of the Applicant,
as provided in the Regulations.
If option (iii) is used for
Insured Credit Unions, the
Applicant must increase its member
and/or non-member shares and/or
total loans outstanding by an
amount equal to the amount of
retained earnings committed as
matching funds.
This increase will be
measured on a quarterly basis
from March 31, 2018; must occur
by the end of Year 1 of the
Recipient's Performance Period,
as set forth in its Assistance
Agreement; and will be based on
amounts reported in the
Applicant's National Credit
Union Administration (NCUA) form
5300 Call Report.
The CDFI Fund will
assess the likelihood of this
increase during the Application
review process.
An award will not be
made to any Applicant that has
not demonstrated in the relevant
NCUA form 5300 Call Reports that
it has increased shares and/or
total loans outstanding by at
least 25 percent of the
requested FA award amount
between December 31, 2016, and
December 31, 2017.
The matching funds are
not In-Hand until the Recipient
has increased its member and/or
non-member shares, deposits and/
or total loans outstanding by
the amount of retained earnings
since inception used as matching
funds within the time period
specified.
If option (iii) is used for
Insured Depository Institutions or
Depository Institution Holding
Companies, the Applicant or its
Subsidiary Insured Depository
Institution (in the case of a
Depository Institution Holding
Company) must increase deposits and/
or total loans outstanding by an
amount equal to the amount of
retained earnings committed as
matching funds. Depository
Institution Holding Company
Applicants must use the call
reports of the CDFI Subsidiary
Insured Depository Institution that
the requested FA award will
support.
This increase will be
measured on a quarterly basis
from March 31, 2018; must occur
by the end of Year 1 of the
Recipient's Performance Period,
as set forth in its Assistance
Agreement; and will be based on
amounts reported in the Bank
Call Report.
The CDFI Fund will
assess the likelihood of this
increase during the Application
review process.
An award will not be
made to any Applicant that has
not demonstrated in the relevant
call reports that it has
increased deposits and/or total
loans outstanding by at least 25
percent of the requested FA
award amount between December
31, 2016, and December 31, 2017.
The matching funds are
not In-Hand until the Recipient
has increased its deposits and/
or total loans outstanding by
the amount of retained earnings
since inception used as matching
funds within the time period
specified.
All regulated Applicants
utilizing the part (iii) Since
Inception rule should refer to the
Retained Earnings Guidance included
in the Matching Funds Breakout
Table Excel Workbook found on the
CDFI Fund website.
------------------------------------------------------------------------

V. Application and Submission Information

A. Address To Request an Application Package: Application materials
can be found on the CDFI Fund's website at www.cdfifund.gov/cdfi.
Applicants may request a paper version of any Application material by
contacting the CDFI Fund Help Desk at [email protected].
B. Content and Form of Application Submission: All Applications
must be prepared using the English language, and calculations must be
made in U.S. dollars. The following table lists the required
Application documents for the FY 2018 Funding Round. The CDFI Fund
reserves the right to request and review other pertinent or public
information that has not been specifically requested in this NOFA or

[[Page 4761]]

the Application. Information submitted by the Applicant that the CDFI
Fund has not specifically requested will not be reviewed or considered
as part of the Application. Information submitted must accurately
reflect the Applicant's activities. Financial data, portfolio, and
activity information provided in the Application should only include
the Applicant's activities.

Table 10--Required Application Documents
------------------------------------------------------------------------
Application documents Applicant type Submission format
------------------------------------------------------------------------
Active AMIS Account............. All Applicants.... AMIS.
SF-424.......................... All Applicants.... Fillable PDF in
Grants.gov.
CDFI Program Application All Applicants.... AMIS.
Components:
Funding Application
Detail.
Data, Charts, and
Narrative sections as
listed in AMIS and outlined
in Application materials.
DF-FA Application Components: DF-FA Applicants.. AMIS.
Requested --Must submit
Disability Funds--Financial narrative
Assistance Amount document to FA
Narratives *. Application in
AMIS.
* DF-FA Narrative will be
provided after FA Application
submission if DF-FA funding
request is specified in AMIS.
HFFI-FA Application Components: HFFI-FA Applicants AMIS.
Funding Application
Detail.
Narratives......... --Must create
new funding
application.
------------------------------------------------------------------------
ATTACHMENTS TO THE APPLICATION: Add to ``Related Attachments'' related
list in application
------------------------------------------------------------------------
Key Staff Resumes............... All Applicants.... PDF or Word
document in AMIS.
Organizational Chart............ All Applicants.... PDF in AMIS.
Audited Financial Statements For FA Applicants: PDF in AMIS.
the Applicant's Three Most Loan funds,
Recent Historic Fiscal Years. Venture capital
funds, and other
non-Insured
Depository
Institutions.
Management Letters for the FA Applicants: PDF in AMIS.
Applicant's Most Recent Loan funds,
Historic Fiscal Year. Venture capital
funds, and other
non-Insured
Depository
Institutions.
TA Applicants: If
available.
The Management Letter is
prepared by the Applicant's
auditor and is a communication
on internal control over
financial reporting,
compliance, and other matters.
The Management Letter contains
the auditor's findings
regarding the Applicant's
accounting policies and
procedures, internal controls,
and operating policies,
including any material
weaknesses, significant
deficiencies, and other matters
identified during auditing. The
Management Letter may include
suggestions for improving on
identified weaknesses and
deficiencies and/or best
practice suggestions for items
that may not be considered to
be weaknesses or deficiencies.
The Management Letter may also
include items that are not
required to be disclosed in the
annual Audited Financial
Statements. The Management
Letter is distinct from the
auditor's Opinion Letter, which
is required by Generally
Accepted Accounting Principles
(GAAP). Management Letters are
not required by GAAP, and are
sometimes provided by the
auditor as a separate letter
from the Audit itself.
Statement(s) in Lieu of FA Applicants: PDF in AMIS.
Management Letter for Loan funds and
Applicant's Most Recent other non-Insured
Historic Fiscal Year Issued Depository
from Board Treasurer or other Institutions.
Board member using template TA Applicants: If
provided in application available.
materials (required only if
Management Letters are not
available for Audited Financial
Statements).
Unaudited Financial Statements TA Applicants: PDF in AMIS.
for Applicant's Three Most Loan funds,
Recent Historic Years (if venture capital
Audited Financial Statements funds, and other
are not available). non-Insured
Depository
Institutions.
Current Year to Date--December FA and TA PDF in AMIS.
31, 2017 Unaudited Financial Applicants: Loan
Statements. funds, venture
capital funds,
and other non-
Insured
Depository
Institutions.
Community Partnership Agreement. FA Applicants, if PDF or Word
applicable. document in AMIS.
Matching Funds Breakout Table FA Core Applicants Excel in AMIS.
Excel Workbook.
Call Reports for each fiscal FA Core PDF in AMIS.
year reported in the Retained Applicants:
Earnings Calculator. Insured
Depository
Institutions that
are using
Retained Earnings
as matching funds
only.

[[Page 4762]]

Equity Investment Matching Funds FA Core PDF or Word
Documentation. Applicants: For- document in AMIS.
profit CDFIs that
are using an
Equity
Investment(s) as
matching funds
only.
------------------------------------------------------------------------

C. Application Submission: The CDFI Fund has a two-step process
that requires the submission of application documents on separate
deadlines and locations. The SF-424 must be submitted through
Grants.gov and all other application documents through the AMIS portal.
The CDFI Fund will not accept Applications via email, mail, facsimile,
or other forms of communication, except in extremely rare circumstances
that have been pre-approved by the CDFI Fund. Applicants are only
required to submit the OMB SF-424, Application for Federal Assistance
form in Grants.gov. All other application information (listed in Table
10) will be submitted through AMIS. The deadline for submitting the SF-
424 is listed in Tables 1 and 11.
All Applicants must register in the Grants.gov system to
successfully submit the SF-424. The Grants.gov registration process can
take 30 days or longer to complete and 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). Since the Grants.gov registration process
requires Applicants to have DUNS and EIN numbers, Applicants without
these required numbers should allow for additional time to complete the
Grants.gov registration process. The CDFI Fund will not extend the
application deadline to any Applicant that started the Grants.gov
registration process but did not complete it by the deadline. An
Applicant that has previously registered with Grants.gov must verify
that its registration is current and active. Applicants should contact
Grants.gov directly with questions related to the registration or
submission process as the CDFI Fund does not maintain the Grants.gov
system.
Each Application must be signed by a designated Authorized
Representative in AMIS before it can be submitted. Applicants must
ensure that an Authorized Representative is authorized to sign legal
documents on behalf of the organization. Consultants working on behalf
of the organization cannot be designated as Authorized Representatives.
Only a designated Authorized Representative or Application Point of
Contact, included in the Application, may submit the Application in
AMIS. If an Authorized Representative or Application Point of Contact
does not submit the application, the application will be deemed
ineligible.
D. Dun & Bradstreet Universal Numbering System (DUNS): Pursuant to
the Uniform Requirements, each Applicant must provide as part of its
Application submission, a Dun and Bradstreet Universal Numbering System
(DUNS) number. Applicants without a DUNS number will not be able to
register and submit an Application in the Grants.gov system. Allow
sufficient time for Dun & Bradstreet to respond to inquiries and/or
requests for DUNS numbers.
E. System for Award Management (SAM): Any entity applying for
Federal grants or other forms of Federal financial assistance through
Grants.gov must be registered in SAM before submitting its Application.
Registration in SAM is required as part of the Grants.gov registration
process. The SAM registration process can take two weeks or longer to
complete. Applicants without DUNS and/or EIN numbers should allow for
additional time as an Applicant cannot register in SAM without those
required numbers. Applicants that have previously completed the SAM
registration process must verify that their SAM accounts are current
and active. Each Applicant must continue to maintain an active SAM
registration with current information at all times during which it has
an active Federal award or an Application under consideration by a
Federal awarding agency. The CDFI Fund will not consider any Applicant
that fails to properly register or activate its SAM account and, as a
result, is unable to submit the SF-424 in Grants.gov or Application in
AMIS by the applicable Application deadlines. These restrictions also
apply to organizations that have not yet received a DUNS or EIN number.
Applicants must contact SAM directly with questions related to
registration or SAM account changes as the CDFI Fund does not maintain
this system and has no ability to make changes or correct errors of any
kind. For more information about SAM, visit https://www.sam.gov.

Table 11_Grants.gov Registration Timeline Summary
----------------------------------------------------------------------------------------------------------------
Step Agency Estimated minimum time to complete
----------------------------------------------------------------------------------------------------------------
Obtain a DUNS number..................... Dun & Bradstreet............ One (1) Week .*
Obtain an EIN Number..................... Internal Revenue Service Two (2) Weeks .*
(IRS).
Register in SAM.gov...................... System for Award Management Two (2) Weeks .*
(SAM.gov).
Register in Grants.gov................... Grants.gov.................. One (1) Week .**
----------------------------------------------------------------------------------------------------------------
*Applicants are advised that the stated durations are estimates only and represent minimum timeframes. Actual
timeframes may take longer. The CDFI Fund will not consider any Applicant that fails to properly register or
activate its SAM account, has not yet received a DUNS or EIN number, and/or fails to properly register in
Grants.gov.
** This estimate assumes an Applicant has a DUNS number, an EIN number, and is already registered in SAM.gov.

F. Submission Dates and Times:
1. Submission Deadlines: The following table provides the critical
deadlines for the FY 2018 Funding Round.

[[Page 4763]]

Table 12--FY 2018 Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time Eastern Time (ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to contact Certification, February 28, 2018..... 11:59 p.m............. Service Request via AMIS.
Compliance Monitoring and
Evaluation (CCME) staff regarding
CDFI Certification.
CDFI certification applications.... March 2, 2018......... 11:59 p.m............. Electronically via AMIS.
Create AMIS Account (New March 2, 2018......... ...................... AMIS.
Applicants).
SF424 (Application for Federal March 2, 2018......... 11:59 p.m............. Electronically via
Assistance). Grants.gov.
Last day to contact CDFI Program April 2, 2018......... 5:00 p.m.............. Service Request via AMIS Or
staff. CDFI Fund Helpdesk: 202-
653-0421.
CDFI Program Application for FA or April 4, 2018......... 11:59 p.m............. Electronically via AMIS.
TA.
----------------------------------------------------------------------------------------------------------------

2. Confirmation of Application Submission in Grants.gov and AMIS:
Applicants are required to submit the OMB SF-424, Application for
Federal Assistance through the Grants.gov system, under the CDFI
Program Funding Opportunity Number. All other required application
materials must be submitted through the AMIS website. Application
materials submitted through both systems are due by the applicable
deadlines. Applicants must submit the SF-424 on an earlier deadline
from the other required application materials in AMIS. If the SF-424 is
not successfully accepted by Grants.gov by the deadline, the CDFI Fund
will not review any of the 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 submitting the SF-424
confirming that the submission has entered the Grants.gov system. This
email will contain a tracking number for the submitted SF-424. Within
48 hours, the Applicant will receive a second email, which will
indicate if the submitted SF-424 was either successfully validated or
rejected with errors. However, Applicants should not rely on the email
notification from Grants.gov to confirm that their SF-424 was
validated. Applicants are strongly encouraged to use the tracking
number provided in the first email to closely monitor the status of
their SF-424 by contacting the helpdesk at Grants.gov directly. The
Application material submitted in AMIS is not officially accepted by
the CDFI Fund until Grants.gov has validated the SF-424.
b. AMIS Submission Information: AMIS is a web-based portal where
Applicants will directly enter their application information and add
the required attachments listed in Table 10. AMIS will verify that the
Applicant provided the minimum information required to submit an
Application. Applicants are responsible for the quality and accuracy of
the information and attachments included in the Application submitted
in AMIS. The CDFI Fund strongly encourages the Applicant to allow
sufficient time to confirm the Application content, review the material
submitted, and remedy any issues prior to the Application deadline.
Each Application must be signed by an Authorized Representative in AMIS
before it can be submitted. Applicants must ensure that an Authorized
Representative is authorized to sign legal documents on behalf of the
organization. Consultants working on behalf of the organization may not
be designated as Authorized Representatives. Only an Authorized
Representative or an Application Point of Contact can submit the
Application. If an Authorized Representative or Application Point of
Contact does not submit the application, the application will be deemed
ineligible. Applicants can only submit one Application. Upon
submission, the Application will be locked and cannot be resubmitted,
edited, or modified in any way. The CDFI Fund will not unlock or allow
multiple Application submissions.
3. Late Submission: The CDFI Fund will not accept an Application if
the SF-424 is not submitted and accepted by Grants.gov by the deadline.
Additionally, the CDFI Fund will not accept an Application if it is not
signed by an Authorized Representative and submitted in AMIS by the
deadline. In either case, the CDFI Fund will not review any material
submitted, and the Application will be deemed ineligible.
However, in cases where a Federal government administrative or
technological error directly resulted in a late submission of the SF-
424 or the Application, Applicants are provided two opportunities to
submit a written request for acceptance of late submissions. The CDFI
Fund does not consider a delay in any Federal government process to
constitute a Federal government administrative or technological error.
The CDFI Fund will not consider a late submission of the SF-424 or the
Application that was a direct result of a delay in a Federal Government
process, unless such delay was the result of a Federal government
administrative or technological error.
a. SF-424 Late Submission: In cases where a Federal government
administrative or technological error directly resulted in a late
submission of the SF-424, the Applicant must submit a written request
for acceptance of late SF-424 submission and include documentation of
the error no later than two business days after the SF-424 deadline.
The CDFI Fund will not respond to request for acceptance of late SF-424
submissions after that time period. Applicants must submit late SF-424
submission requests to the CDFI Fund via an AMIS service request to the
CDFI Program with a subject line of ``Late SF-424 Submission Request.''
b. Application Late Submission: In cases where a Federal government
administrative or technological error directly resulted in a late
submission of the Application in AMIS, the Applicant must submit a
written request for acceptance of late Application submission and
include documentation of the error no later than two business days
after the Application deadline. The CDFI Fund will not respond to
request for acceptance of late Application submissions after that time
period. Applicants must submit late Application submission requests to
the CDFI Fund via an AMIS service request to the CDFI Program with a
subject line of ``Late Application Submission Request.''
G. Funding Restrictions: FA, PPC-FA, DF-FA, HFFI-FA and TA awards
are limited by the following:
1. FA awards:
a. A Recipient shall use FA funds only for the eligible activities
described in Section II.(C)(1) of this NOFA and its Assistance
Agreement.
b. A Recipient may not distribute FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.

[[Page 4764]]

c. FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. 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.
2. PPC-FA awards:
a. A Recipient shall use PPC-FA funds only for the eligible
activities described in Section II. (C)(5) of this NOFA and its
Assistance Agreement.
b. A Recipient may not distribute PPC-FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.
c. PPC-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay PPC-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. 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.
3. DF-FA awards:
a. A Recipient shall use DF-FA funds only for the eligible
activities described in Section II. (C)(2) of this NOFA and its
Assistance Agreement.
b. A Recipient may not distribute DF-FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.
c. DF-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay DF-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. 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.
2. HFFI-FA awards:
a. A Recipient shall use HFFI-FA funds only for the eligible
activities described in Section II. (C)(4) of this NOFA and its
Assistance Agreement.
b. A Recipient may not distribute HFFI-FA funds to an Affiliate,
Subsidiary, or any other entity, without the CDFI Fund's prior written
approval.
c. HFFI-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay HFFI-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. 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.
3. TA grants:
a. A Recipient shall use TA funds only for the eligible activities
described in Section II. (C) (3) of this NOFA and its Assistance
Agreement.
b. A Recipient may not distribute TA funds to an Affiliate,
Subsidiary or any other entity, without the CDFI Fund's prior written
consent.
c. TA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay TA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. 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.

V. Application Review Information

A. Criteria: If the Applicant has submitted an 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 purpose of clarifying or
confirming Application information. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or risk
that its Application will be rejected. The CDFI Fund will review the
FA, DF-FA, PPC-FA, HFFI-FA, and TA Applications according the below
process.
1. Financial Assistance (FA) Application Scoring, Award Selection,
Review, and Selection Process: The CDFI Fund will evaluate each
Application using a five step review process illustrated in the
sections below. Applicants that meet the minimum criteria will advance
to the next step in the review process. Applicants applying as a
Community Partnership must describe partnership in the Application
pursuant to the requirements set forth in Table 8 and will be evaluated
in accordance with the review process described below.
a. Step 1: Eligibility Review: The CDFI Fund will evaluate each
Application to determine its eligibility status per Section III.
Eligibility Information of this NOFA.
b. Step 2: Financial Analysis and Compliance Evaluation: Step 2
contains two main components: financial health analysis and compliance
risk evaluation. The CDFI Fund will evaluate the financial health and
viability of each Application using financial information provided by
the Applicant. The CDFI Fund will also evaluate the compliance risk of
each Application using information provided in the Application.
For the financial health analysis, each Application will receive a
Total Financial Composite Score on a scale of one (1) to five (5), with
one (1) being the highest rating. The Total Financial Composite Score
is based on the analysis of twenty-four (24) financial indicators.
Applications will be grouped based on the Total Financial Composite
Score. Applicants must receive a Total Financial Composite Score of one
(1), two (2), or three (3) to advance to Step 3. Applicants that
receive an initial Total Financial Composite Score of four (4) or five
(5) will be re-evaluated and re-scored by CDFI Fund staff. If the Total
Financial Composite Score remains four (4) or five (5) after CDFI Fund
staff review, the Applicant will not advance to Step 3.
For the compliance analysis, the CDFI Fund will evaluate the
compliance risk of each Application using information provided in the
Application. Each Application will receive a Total Compliance Composite
Score on a scale of one (1) to five (5), with one (1) being the highest
rating. Applicants must receive a Total Compliance Composite Score of
one (1), two (2), or three (3) to advance to Step 3. Applicants that
receive an initial Total Compliance Composite Score of four (4) or five
(5) will be re-evaluated and re-scored by CDFI Fund Staff. If the Total
Compliance Composite Score remains four (4) or five (5) after CDFI
Staff review, the Applicant will not advance to Step 3.
c. Step 3: Business Plan Review: Applicants that proceed to Step 3
will be evaluated on the soundness of each Applicant's comprehensive
business plan. Two external non-CDFI Fund Reviewers will conduct the
Step 3 evaluation. Reviewers will evaluate the Application sections
listed in Table 13. All Applications will be reviewed in accordance
with standard reviewer evaluation materials for the business plan
review. Applications will be ranked based on Total Business Plan
Scores, in descending order. In order to advance to Step 4, Applicants
must receive a Total Business Plan Score that is either (1) equal to
receiving a point score equivalent to a ``Good'' out of a ranking scale
in descending order of Excellent, Good, Fair, Limited or Poor, in each
section listed in Table 13 or (2) within the top 60 percent of the CORE
applicant pool for CORE applicants or within the top 70 percent of the
SECA

[[Page 4765]]

applicant pool for SECA applicants, whichever is greater. In the case
of tied Total Business Plan Scores that would prevent an Applicant from
moving to Step 4, all Applicants with the same score will progress to
Step 4.

Table 13--Step 3: FA Business Plan Review Scoring Criteria
------------------------------------------------------------------------
FA application sections Possible score Score needed to advance
------------------------------------------------------------------------
Executive Summary.............. Not Scored N/A.
Business Strategy.............. 12 N/A.
Market and Competitive Analysis 7 N/A.
Products and Services.......... 12 N/A.
Management and Track Record.... 12 N/A.
Growth and Projections......... 7 N/A.
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr ------------------------
Total Business Plan Score.. 50 CORE Applicants: Within
Top 60 percent of all
CORE Applicant Step 3
Scores.
SECA Applicants: Within
Top 70 percent of all
SECA Applicant Step 3
Scores.
------------------------------------------------------------------------

d. Step 4: Policy Objective Review: The CDFI Fund internal
reviewers will evaluate each Application to determine its ability to
meet policy objectives of the CDFI Fund authorizing statute. The policy
objectives considered in this evaluation are listed in Table 14 below.
The CDFI Fund also conducts a due diligence review for Applications
that includes an analysis of programmatic risk factors including, but
not limited to: history of performance in managing Federal awards
(including timeliness of reporting and compliance); reports and
findings from audits; and the Applicant's ability to effectively
implement Federal requirements, which could impact the Total Policy
Objective Review Score. Each Applicant will be evaluated in each of the
categories, which will result in a Total Policy Objective Review
Composite Score on a scale of one (1) to five (5), with one (1) being
the highest score. Applicants are then grouped according to Total
Policy Objective Review Scores.

Table 14--Step 4: FA Policy Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
Section Possible scores High score Score needed to advance
----------------------------------------------------------------------------------------------------------------
Economic Distress................... 1, 2, 3, 4, or 5....... 1 N/A.
Economic Opportunities.............. 1, 2, 3, 4, or 5....... 1 N/A.
Partnerships........................ 1, 2, 3, 4, or 5....... 1 N/A.
---------------------------------------------------------------------------
Total Policy Objective Review 1, 2, 3, 4, or 5....... 1 All Scores Advance.
Composite Score.
----------------------------------------------------------------------------------------------------------------

e. Step 5: Award Amount Determination: The CDFI Fund determines an
award amount for each Application based on the Step 4 Total Policy
Objective Review Score, the Applicant's request amount, and on certain
variables, including but not limited to, an Applicant's deployment
track record, minimum award size, and funding availability. Award
amounts may be reduced from the requested award amount as a result of
this analysis. Lastly, the CDFI Fund may consider the geographic
diversity of Applicants when making its funding decisions.
2. Healthy Food Financing Initiative-FA (HFFI-FA) Application
Scoring, Award Selection, Review, and Selection Process: Two external
non-CDFI Fund reviewers will evaluate each HFFI-FA Application
associated with a FA application that progresses to Step 4 of the FA
Application review process. Reviewers will evaluate the Application
sections listed in Table 15 and assign a Total HFFI- FA Score up to 25
points. All Applications will be reviewed in accordance with standard
reviewer evaluation materials. Applications will be ranked based on
total scores, in descending order. Applicants that fail to receive an
FA award will not be considered for a HFFI-FA award.
The CDFI Fund conducts additional levels of due diligence for
Applications that are in scoring contention for an HFFI-FA award. This
due diligence includes an analysis of programmatic and financial risk
factors including, but not limited to, financial stability, quality of
management systems and ability to meet award management standards,
history of performance in managing Federal awards (including timeliness
of reporting and compliance), reports and findings from audits, and the
Applicant's ability to effectively implement Federal requirements.
Award amounts may be reduced from the requested award amount as a
result of this analysis. The CDFI Fund may reduce awards sizes from
requested amounts based on certain variables, including an Applicant's
loan disbursement activity, total portfolio outstanding, and similar
factors. Lastly, the CDFI Fund may consider the geographic diversity of
Applicants when making its funding decisions.

[[Page 4766]]

Table 15--Step 3 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
HFFI-FA
HFFI-FA narrative sections applicants
(points)
------------------------------------------------------------------------
HFFI Target Market Profile.............................. 4
Healthy Food Financial Products......................... 5
Healthy Food Development Services....................... 2
Projected HFFI-FA Activities............................ 7
HFFI Track Record, Management Capacity for Providing 7
Healthy Food Financing, Healthy Food Financing Outcomes
---------------
Total HFFI-FA Score................................. 25
------------------------------------------------------------------------

3. Persistent Poverty Counties--Financial Assistance (PPC-FA)
Application Scoring, Award Selection, Review, and Selection Process:
Application requests for PPC-FA awards are not scored. A CDFI Fund
internal reviewer will evaluate the PPC-FA request of each associated
FA Applicant that has advanced to the Step 4 review process. PPC-FA
award amounts will be determined based on the total number of eligible
Applicants and funding availability, the Applicant's requested amount,
and on certain variables, including but not limited to, an Applicant's
deployment track record, historical track record of deployment in
Persistent Poverty Counties for Applicants that have received prior
awards from the CDFI Fund, minimum award size, and funding
availability.
4. Disability Funds-Financial Assistance (DF-FA) Application
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund
internal reviewer will evaluate each DF-FA Application associated with
a FA application progresses to Step 4 of the FA Application review
process. The reviewer will evaluate the Application and assign a Total
DF- FA Score on a scale of one (1) to five (5), with one (1) being the
highest score. Applicants are then grouped according to Total DF- FA
Score. All Applications will be reviewed in accordance with standard
reviewer evaluation materials. Applicants that fail to receive an FA
award will not be considered for a DF-FA award. Award amounts will be
determined on the basis of the Total DF-FA Score, the Applicant's
requested amount, and on certain variables, including but not limited
to, an Applicant's deployment track record, minimum award size, and
funding availability. The CDFI Fund will make awards to the highest
scoring applicants first. Award amounts may be reduced from the
requested award amount as a result of this analysis. The DF-FA award is
evaluated independently from the FA award and will not affect the FA
award evaluation or size.

Table 16--Step 3 DF-FA Application Scoring Criteria
------------------------------------------------------------------------
Section Possible scores High score
------------------------------------------------------------------------
DF-FA Narrative Questions...... 1, 2, 3, 4, or 5....... 1
----------------------------------------
Total DF-FA Score.......... 1, 2, 3, 4, or 5....... 1
------------------------------------------------------------------------

5. Technical Assistance (TA) Application Scoring, Award Selection,
Review, and Selection Process: The CDFI Fund will evaluate each
Application to determine its eligibility pursuant to Section III.
Eligibility Information of this NOFA. If the Application meets the
eligibility criteria, the CDFI Fund will evaluate each TA Application
using standard scoring criteria in the Business Plan Review (Table 17).
An Applicant must receive a minimum Total TA Business Plan Score of 60
points for the TA components in order to be considered for an award.
Emerging CDFI or Certifiable CDFI Applicants must achieve a minimum
score of 35 points in Section I to be considered for an award and to be
reviewed in Section II.
An Applicant that is a Certified CDFI will be evaluated on the
demonstrated need for TA funding to build the CDFI's capacity, further
the Applicant's strategic goals, and achieve impact within the
Applicant's Target Market. An Applicant that is an Emerging CDFI or
Certifiable CDFI will be evaluated on the Applicant's demonstrated
capability and plan to achieve CDFI certification within three years,
or if a prior awardee, the certification performance goal and measure
stated in its prior Assistance Agreement. An Applicant that is an
Emerging CDFI and Certifiable CDFI will also be evaluated on its
demonstrated need for TA funding to build the CDFI's capacity and
further its strategic goals.
The CDFI Fund will score each part of the TA Business Plan Review
as indicated in Table 17.

Table 17--TA Business Plan Review Scoring Criteria
------------------------------------------------------------------------
Emerging CDFI
TA application sections or Certifiable Certified CDFI
CDFI (points) (points)
------------------------------------------------------------------------
Section I:
Primary Mission..................... 15 N/A
Financing Entity.................... 15 N/A
Target Market....................... 15 N/A
Accountability...................... 15 N/A

[[Page 4767]]

Development Services................ 15 N/A
Section II:
Organization Overview............... 5 20
Management and Staff................ 5 20
Community Coordination.............. 5 20
Financial Performance............... 5 20
Organizational Impact............... 5 20
-------------------------------
Total TA Business Plan Score.... 100 100
------------------------------------------------------------------------

Each TA Application will be evaluated by one internal CDFI Fund
reviewer. Internal reviewers must complete the CDFI Fund's conflict of
interest process. The CDFI Fund's application conflict of interest
policy is located on the CDFI Fund's website. All Applications will be
reviewed in accordance with CDFI Fund standard reviewer evaluation
materials for the Business Plan Review. Applications will be ranked
based on Total TA Business Plan Score, in descending order. In the case
of tied scores that would prohibit the Application from progressing to
the next level of review, Certified Applicants will be ranked first
according to each Organization Overview score, and Emerging CDFI and
Certifiable CDFI Applicants will be ranked first according to the total
Section I score.
The CDFI Fund conducts additional levels of due diligence for
Applications that are in scoring contention for an award. This due
diligence includes an analysis of programmatic and financial risk
factors including, but not limited to, financial stability, history of
performance in managing Federal awards (including timeliness of
reporting and compliance), reports and findings from audits, and the
Applicant's ability to effectively implement Federal requirements. The
CDFI Fund will also evaluate the Applicant's ability to meet
certification criteria of being a legal entity and a non-government
entity. Award amounts may be reduced as a result of this analysis in
addition to consideration of the eligibility of an Applicant's funding
request and similar factors. Lastly, the CDFI Fund may consider the
geographic diversity of Applicants when making its funding decisions.
6. Insured Depository Institutions: The CDFI Fund will consider
safety and soundness information from the Appropriate Federal or State
Banking Agency. If the Applicant is a CDFI Depository Institution
Holding Company, the CDFI Fund will consider information provided by
the Appropriate Federal or State Banking Agencies about both the CDFI
Depository Institution Holding Company and the Subsidiary CDFI
Certified Insured Depository Institution that will expend and carry out
the award. If the Appropriate Federal or State Agency identifies safety
and soundness concerns, the CDFI Fund will assess whether the concerns
cause or will cause the Applicant to be incapable of undertaking the
activities for which funding has been requested.
7. Non-Regulated Institutions: In accordance with the CDFI
Program's authorizing statute and regulations, the CDFI Fund must
ensure, to the maximum extent practicable, that recipients which are
non-regulated CDFIs are financially and managerially sound, and
maintain appropriate internal controls (12 U.S.C. 4707(f)(1)(A) and 12
CFR 1805.800(b)). Further, the CDFI Fund must determine that an
Applicant's capacity to operate as a CDFI and its continued viability
will not be dependent upon assistance from the CDFI Fund (12 U.S.C.
4704(b)(2)(A)). If it is determined the Applicant is incapable of
meeting these requirements, the CDFI Fund reserves the right to deem
the Applicant ineligible or terminate the award.
B. Anticipated Award Announcement: The CDFI Fund anticipates making
CDFI Program award announcements after September 10, 2018 and before
September 30, 2018.
C. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative errors)
comes to the CDFI Fund's attention that: Adversely affects an
Applicant's eligibility for an award; adversely affects the Recipient's
certification as a CDFI (to the extent that the award is conditional
upon CDFI certification); adversely affects the CDFI Fund's evaluation
or scoring of an Application; or indicates fraud or mismanagement on
the Applicant's part. If the CDFI Fund determines any portion of the
Application is incorrect in a material respect, the CDFI Fund reserves
the right, in its sole discretion, to reject the Application. The CDFI
Fund reserves the right to change its eligibility and evaluation
criteria and procedures, if the CDFI Fund deems it appropriate. If the
changes materially affect the CDFI Fund's award decisions, the CDFI
Fund will provide information about the changes through its website.
The CDFI Fund's award decisions are final, and there is no right to
appeal the decisions.
D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund
reviewers are selected based on criteria that includes a professional
background in community and economic development finance, and
experience reviewing the financial statements of all CDFI institution
types. Reviewers must complete the CDFI Fund's conflict of interest
process and be approved by the CDFI Fund. The CDFI Fund's application
reader conflict of interest policy is located on the CDFI Fund's
website.

VI. Federal Award Administration Information

A. Award Notification: Each successful Applicant will receive an
email ``notice of award'' notification from the CDFI Fund stating that
its Application has been approved for an award. Each Applicant not
selected for an award will receive an email stating that a debriefing
notice has been provided in its AMIS account.
B. Assistance Agreement: Each Applicant selected to receive an
award must enter into an Assistance Agreement with the CDFI Fund in
order to receive a payment(s). The Assistance Agreement will set forth
the award's terms and conditions, including but not

[[Page 4768]]

be limited to the: (i) Award amount; (ii) award type; (iii) award uses;
(iv) eligible use of funds; (v) performance goals and measures; and
(vi) reporting requirements. FA Assistance Agreements have three-year
periods of performance. TA Assistance Agreements have two-year periods
of performance for Certified CDFIs and three-year periods of
performance for Emerging CDFIs or Certifiable CDFIs.
1. Certificate of Good Standing: All FA and TA Recipients that are
not Insured Depository Institutions will be required to provide the
CDFI Fund with a certificate of good standing from the secretary of
state for the Recipient's jurisdiction of formation prior to closing.
This certificate can often be acquired online on the secretary of state
website for the Recipient's jurisdiction of formation and must
generally be dated within 180 days prior to the date the Recipient
executes the Assistance Agreement. Due to potential backlogs in state
government offices, Applicants are advised to submit requests for
certificates of good standing no later than 60 days after they submit
their Applications.
2. Closing: Pursuant to the Assistance Agreement, there will be an
initial closing at which point the Assistance Agreement and related
documents will be properly executed and delivered, and an initial
payment of FA or TA may be made. FA Recipients that are subject to the
matching funds requirement will not receive a payment until 100 percent
of their matching funds are In-Hand. The first payment is the estimated
amount of award that the Recipient states in its Application that it
will use for eligible FA or TA activities in the first 12 months after
the award. The CDFI Fund reserves the right to increase the first
payment amount on any award to ensure that any subsequent payments are
greater than $25,000 for FA and $5,000 for TA awards.
The CDFI Fund will minimize the time between the Recipient
incurring costs for eligible activities and award payment in accordance
with the Uniform Requirements. The advanced payments for eligible
activities will occur no more than one year in advance of the Recipient
incurring costs for the eligible activities. Following the initial
closing, there may be subsequent closings involving additional award
payments. Any documentation in addition to the Assistant Agreement that
is connected with such subsequent closings and payments shall be
properly executed and timely delivered by the Recipient to the CDFI
Fund.
3. Requirements Prior to Entering into an Assistance Agreement: If,
prior to entering into an Assistance Agreement, information (including
administrative errors) comes to the CDFI Fund's attention that:
adversely affects the Recipient's eligibility for an award; adversely
affects the Recipient's certification as a CDFI (to the extent that the
award is conditional upon CDFI certification); adversely affects the
CDFI Fund's evaluation of the Application; indicates that the Recipient
is not in compliance with any requirement listed 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 such other actions as it
deems appropriate. The CDFI Fund reserves the right, in its sole
discretion, to rescind an award if the Recipient fails to return the
Assistance Agreement, signed by the authorized representative of the
Recipient, and/or provide the CDFI Fund with any other requested
documentation, within the CDFI Fund's deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Assistance Agreement and the
award made under this NOFA pending the criteria described in the
following table:

Table 18--Requirements Prior To Executing an Assistance Agreement
------------------------------------------------------------------------
Requirement Criteria
------------------------------------------------------------------------
Failure to meet reporting If a Recipient received a
requirements. prior award under any CDFI Fund
program and is not current with the
reporting requirements of the
previously executed agreement(s),
the CDFI Fund may delay entering
into an Assistance Agreement or
disbursing an award until reporting
requirements are met.
If such a Recipient is
unable to meet the requirement
within the timeframe specified, the
CDFI Fund may terminate and rescind
the Assistance Agreement and the
award made under this NOFA.
The automated systems the
CDFI Fund uses only acknowledge a
report's receipt and it not a
determination of meeting reporting
requirements.
Failure to maintain CDFI An FA Recipient must be a
Certification. Certified CDFI prior to entering
into an Assistance Agreement.
If an FA Recipient fails to
maintain CDFI Certification, the
CDFI Fund will terminate and
rescind the Assistance Agreement
and the award made under this NOFA.
Pending resolution of The CDFI Fund will delay
noncompliance. entering into an Assistance
Agreement with a Recipient that has
pending noncompliance issues with
any of its previously executed CDFI
award agreement(s), if the CDFI
Fund has not yet made a final
compliance determination.
If the Recipient is unable
to satisfactorily resolve the
compliance issues, the CDFI Fund
may terminate and rescind the
Assistance Agreement and the award
made under this NOFA.
Noncompliance status.............. If, at any time prior to
entering into an Assistance
Agreement, the CDFI Fund determines
that a Recipient is noncompliant
with any previously executed CDFI
award agreement(s) and the CDFI
Fund has provided written
notification that the Recipient is
ineligible to apply for or receive
any future awards or allocations
for a time period specified by the
CDFI Fund in writing, the CDFI Fund
may delay entering into an
Assistance Agreement until the
Recipient has cured the default by
taking actions the CDFI Fund has
specified within the specified
timeframe. If the Recipient is
unable to meet the cure requirement
within the specified timeframe, the
CDFI Fund may terminate and rescind
the Assistance Agreement and the
award made under this NOFA.
Compliance with Federal civil If prior to entering into
rights requirements. an Assistance Agreement under this
NOFA, the Recipient receives a
final determination, made within
the last three years, in any
proceeding instituted against the
Recipient in, by, or before any
court, governmental, or
administrative body or agency,
declaring that the Recipient has
violated the following laws: Title
VI of the Civil Rights Act of 1964,
as amended (42 U.S.C. Sec.
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.

[[Page 4769]]

Do Not Pay........................ The Do Not Pay Business
Center was developed to support
Federal agencies in their efforts
to reduce the number of improper
payments made through programs
funded by the Federal government.
The CDFI Fund reserves the
right, in its sole discretion, to
rescind an award if the Recipient
is identified as an ineligible
recipient in the Do Not Pay
database.
Safety and soundness.............. If it is determined the
Recipient is, or will be, incapable
of meeting its award obligations,
the CDFI Fund will deem the
Recipient to be ineligible, or
require it to improve safety and
soundness conditions prior to
entering into an Assistance
Agreement.
------------------------------------------------------------------------

C. Reporting

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

Table 19--Annual Reporting Requirements
------------------------------------------------------------------------

------------------------------------------------------------------------
Financial Statement Audit Report A Non-profit Recipient must submit a
(Non-profit Recipient). Financial Statement Audit (FSA)
report in AMIS, along with the
Recipient's statement of financial
condition audited or reviewed by an
independent certified public
accountant, if any are prepared.
Under no circumstances should this
be construed as the CDFI Fund
requiring the Recipient to conduct
or arrange for additional audits
not otherwise required under
Uniform Requirements or otherwise
prepared at the request of the
Recipient or parties other than the
CDFI Fund.
Financial Statement Audit Report For-profit Recipients must submit a
(For-Profit Recipient). Financial Statement Audit report in
AMIS, along with a statement of
financial condition audited or
reviewed by an independent
certified public accountant.
Single Audit Report (if If a Recipient is required to
applicable) (or similar report). complete a Single Audit Report, it
should be submitted to the Federal
Audit Clearinghouse (see 2 CFR
Subpart F--Audit Requirements in
the Uniform Requirements) and AMIS
(optional).
For-profit Recipients are required
to complete and submit a similar
report directly to the CDFI Fund.
Institution Level Report (ILR).... The ILR is a report used to collect
compliance and performance data
from CDFI Fund Recipients. The ILR
is submitted through AMIS and
captures organizational
information, financial position,
lending and investing activities,
community development outputs, and
development services.
A CDFI Subsidiary Insured
Depository Institution that
receives a transfer of any portion
of an FA award from a CDFI
Depository Institution Holding
Company Recipient must also submit
an ILR.
Transaction Level Report (TLR).... The TLR is a report used to collect
compliance and performance data
from CDFI Fund Recipients. The TLR
is submitted through AMIS and
captures data on each individual
loan and investment in the
Recipient's portfolio.
A CDFI Subsidiary Insured
Depository Institutions that
receives a transfer of any portion
of an FA award from a CDFI
Depository Institution Holding
Company Recipient must also submit
a TLR.
The TLR is not required for
TA Recipients.
Federal Financial Report/OMB If the Recipient receives a TA
Standard Form 425. award, it must submit the Federal
Financial Report/OMB Standard Form
425 via AMIS.
Uses of Award Report.............. If the Recipient receives an FA or
TA award, it must submit the Uses
of Award Report via AMIS.
Shareholders Report............... If the Assistance is in the form of
an Equity Investment, the Recipient
must submit shareholder information
to the CDFI Fund showing the class,
series, number of shares and
valuation of capital stock held or
to be held by each shareholder. The
Shareholder Report must be
submitted for as long as the CDFI
Fund is an equity holder.
Performance Progress Report....... If the Recipient receives an FA or
TA award, it must submit
information on the status of
compliance with the performance
goals and measures via AMIS.
------------------------------------------------------------------------

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

[[Page 4770]]

VII. Agency Contacts

A. The CDFI Fund will respond to questions concerning this NOFA and
the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern
Daylight Savings Time, starting on the date that the NOFA is published
through the date listed in Table 1 and Table 12. The CDFI Fund strongly
recommends applicants submit questions to the CDFI Fund via an AMIS
service request to the CDFI Program, Certification, Compliance
Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on
its website responses to reoccurring questions received about this
Application. Other information regarding the CDFI Fund and its programs
may be obtained from the CDFI Fund's website at https://www.cdfifund.gov. Table 20 lists CDFI Fund contact information:

Table 20--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone No. (not
Type of question Preferred method toll free) Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program.................... Service Request via 202-653-0421, [email protected].
AMIS. option 1.
CCME............................ Service Request via 202-653-0423....... [email protected].
AMIS.
AMIS--IT Help Desk.............. Service Request via 202-653-0422....... [email protected].
AMIS.
----------------------------------------------------------------------------------------------------------------

B. Information Technology Support: For IT Assistance, submit an
AMIS Service Request (Record Type of ``General Inquiry''). In the
Service Request form, select the appropriate program, then select
``AMIS Technical Problem'' as the Type. People who have visual or
mobility impairments that prevent them from using the CDFI Fund's
website 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 the
contact information in AMIS to communicate with Applicants and
Recipients. It is imperative, therefore, that Applicants, Recipients,
Subsidiaries, Affiliates, and signatories maintain accurate contact
information in their accounts. This includes information such as
contact names (especially for the Authorized Representative) listed in
this NOFA's application materials, email addresses, fax and phone
numbers, and office locations.
D. Civil Rights and Diversity: Any person who is eligible to
receive benefits or services from the CDFI Fund or Recipients under any
of its programs is entitled to those benefits or services without being
subject to prohibited discrimination. The Department of the Treasury's
Office of Civil Rights and Diversity enforces various Federal statutes
and regulations that prohibit discrimination in financially assisted
and conducted programs and activities of the CDFI Fund. If a person
believes that s/he has been subjected to discrimination and/or reprisal
because of membership in a protected group, s/he may file a complaint
with: Associate Chief Human Capital Officer, Office of Civil Rights,
and Diversity, 1500 Pennsylvania Ave. NW, Washington, DC 20220 or (202)
622-1160 (not a toll-free number).

VIII. Other Information

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

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

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2018-01997 Filed 1-31-18; 8:45 am]
BILLING CODE 4810-70-P

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