Notice of Funds Availability Inviting Applications for Financial Assistance Awards or Technical Assistance Grants under the Community Development Financial Institutions Program Fiscal Year 2021 Funding Round, 10390-10413 [2021-03356]

Download as PDF 10390 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices of the information collection; and (d) ways that the burden could be minimized without reducing the quality of the collected information. OMB Control Number: 2120–0593. Title: Federal Aviation Regulation part 119—Certification: Air Carriers and Commercial Operators. Form Numbers: N/A. Type of Review: Renewal of an information collection. Background: The Federal Register Notice with a 60-day comment period soliciting comments on the following collection of information was published on November 4, 2020 (85 FR 70222). One comment was received, however it was political in nature and does not relate to this information collection. The request for clearance reflects requirements necessary under parts 135, 121, and 125 to comply with part 119. The FAA will use the information it collects and reviews to ensure compliance and adherence to regulations and, if necessary, to take enforcement action on violators of the regulations. Respondents: 1,695 Air Carrier and Commercial Operators. Frequency: Varies per Requirement. Estimated Average Burden per Response: 5,174.5 Hours. Estimated Total Annual Burden: $155,016.73. DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Notice of Funds Availability Inviting Applications for Financial Assistance Awards or Technical Assistance Grants under the Community Development Financial Institutions Program Fiscal Year 2021 Funding Round Issued in Washington, DC, on February 16, 2021. Sheri A. Martin, Management and Program Analyst, FAA, Air Transportation Division, AFS–200. 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) 2021 Funding Round. Announcement Type: Announcement of funding opportunity. Funding Opportunity Number: CDFI– 2021–FATA Catalog of Federal Domestic Assistance (CFDA) Number: 21.020 Dates: [FR Doc. 2021–03414 Filed 2–18–21; 8:45 am] BILLING CODE 4910–13–P TABLE 1—FY 2021 CDFI PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS tkelley on DSKBCP9HB2PROD with NOTICES Description Deadline Time (eastern time-ET) Submission method Last day to create an Awards Management Information Systems (AMIS) Account (all Applicants). Last day to enter EIN and DUNS numbers in AMIS (all Applicants). Last day to submit SF–424 Mandatory (Application for Federal Assistance). Last day for Applicants that meet the SECA requirements, but wish to apply for CORE–FA, to request creation of a Core-FA Application (if requesting more than $700,000). Last day to contact CDFI Program staff ................. March 22, 2021 11:59 p.m ............... AMIS. March 22, 2021 11:59 p.m ............... AMIS. March 22, 2021 11:59 p.m ............... Electronically via Grants.gov. March 22, 2021 11:59 p.m ............... Service Request 1 via AMIS. April 29, 2021 .... 5:00 p.m ................. Last day to contact AMIS–IT Help Desk (regarding AMIS technical problems only). Last day to submit CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA). May 3, 2021 ....... 5:00 p.m ................. May 3, 2021 ....... 11:59 p.m ............... Service Request via AMIS Or CDFI Fund Helpdesk: 202–653–0421. Service Request via AMIS or 202–653–0422 Or AMIS@cdfi.treas.gov. 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 Eligible Markets and/or their Target Markets, and (ii) TA grants of up to $125,000 to build Certified, and Emerging CDFIs’ organizational capacity to serve Eligible Markets and/or their Target Markets. All awards provided through this NOFA are subject to funding availability. 1 Service Request shall mean a written inquiry or notification submitted to the CDFI Fund via AMIS. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 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. The CDFI Program made its first awards in 1996 and the Native American CDFI Assistance (NACA) Program made its first awards in 2002. 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 PO 00000 Frm 00158 Fmt 4703 Sfmt 4703 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 Financial 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.) (Authorizing Statute). 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 E:\FR\FM\19FEN1.SGM 19FEN1 10391 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices encourages Applicants to review the Regulations; this NOFA; the CDFI Program Application for Financial Assistance or Technical Assistance (the Application); all related materials and guidance documents found on the CDFI Fund’s website (Application materials); and the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR part 1000), which is the Department of the Treasury’s codification of the Office of Management and Budget (OMB) government-wide framework for grants management at 2 CFR part 200 (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, Application materials, or the Uniform Requirements. Details regarding Application content requirements are found in the Application and Application materials. D. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 1000): The Uniform Requirements codify financial, administrative, procurement, and program management standards that Federal award agencies must follow. When evaluating Applications, awarding agencies must evaluate the risks 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 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 2021 Funding Round: The CDFI Fund expects to award, through this NOFA, approximately $188 million as indicated in the following table: TABLE 2—FY 2021 FUNDING ROUND ANTICIPATED CATEGORY AMOUNTS Funding categories (See definition in table 7 for TA or table 8 for FA) Base-FA: Category I/Small and/or Emerging CDFI Assistance (SECA). Base-FA: Category II/Core ............... Minimum 2 Maximum Estimated number of awards for FY 2021 Estimate average amount awarded in FY 2021 Average amount awarded in FY 2020 $25 $125,000 ........................... $700,000 83 $300,000 $424,000 105.2 1,000,000 179 589,000 592,000 300,000 106 175,000 174,000 Persistent Poverty Counties—Financial Assistance (PPC–FA). Disability Funds—Financial Assistance (DF–FA) *. TA ..................................................... Healthy Food Financing Initiative— Financial Assistance (HFFI–FA) *. 18.8 $500,000, or if portfolio outstanding is less than $1,666,700 as of the most recent historic fiscal year end, then 30% of portfolio outstanding. 100,000 ............................. 6 100,000 ............................. 500,000 17 353,000 235,000 10 23 10,000 ............................... 500,000 ............................. 125,000 5,000,000 80 14 125,000 1,643,000 125,000 1,692,000 Total .......................................... 188 ............................................ .................... 479 .................... .................... * DF–FA tkelley on DSKBCP9HB2PROD with NOTICES Award amount Estimated total amount to be awarded (millions) 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 2021 Funding Round: As of the date of this NOFA the CDFI Fund is operating under the Consolidated Appropriations Act, 2021 (Pub. L. 116–260). 3. Anticipated Start Date and Period of Performance: The Period of Performance for TA grants begins with the date of the award announcement and includes either (i) an Emerging CDFI Recipient’s three full consecutive 2 The FA Application Guidance defines ‘‘the most recent historic fiscal year’’ based on an Applicant’s fiscal year end. VerDate Sep<11>2014 22:28 Feb 18, 2021 Jkt 253001 fiscal years after the date of the award announcement, 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 and Measures (PG&Ms) 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 award announcement, during which time the Recipient must meet the PG&Ms set forth in the Assistance Agreement. B. Types of Awards: Through the CDFI Program, the CDFI Fund provides two types of awards: Financial PO 00000 Frm 00159 Fmt 4703 Sfmt 4703 Assistance (FA) and Technical Assistance (TA) awards. An Applicant may submit an Application for a TA grant or an FA award under the CDFI Program, but not both. FA Awards include the Base Financial Assistance (Base-FA) award and the following awards that are provided as a supplement to the Base-FA award: Healthy Food Financing InitiativeFinancial Assistance (HFFI–FA), Persistent Poverty Counties-Financial Assistance (PPC–FA), and Disability Funds-Financial Assistance (DF–FA). The HFFI–FA, PPC–FA, and DF–FA Applications will be evaluated independently from the Base-FA Application, and will not affect the E:\FR\FM\19FEN1.SGM 19FEN1 10392 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices tkelley on DSKBCP9HB2PROD with NOTICES Base-FA Application evaluation or BaseFA award amount. However, Applicants that qualify for the NACA Program may submit two Applications: One Application—either for a TA grant or an FA award, but not both—through the CDFI Program, and one Application—either for a TA grant or an FA award, but not both—through the NACA Program. NACA qualified Applicants that choose to apply for awards through both the CDFI Program and the NACA Program may either apply for the same type of award under each Program or for a different type of award under each Program. NACA qualified FA Applicants that choose to apply for an FA award under both the NACA Program and CDFI Program and are selected for an award under both Programs will be provided the FA award under the CDFI Program. NACA qualified TA Applicants that choose to apply for a TA award under both the NACA Program and CDFI Program and are selected for an award under both Programs will be provided the TA award under the NACA Program. NACA qualified Applicants that choose to apply for a TA award and a FA award under separate programs will be provided the larger of the two awards. NACA Applicants cannot receive an award under both Programs within the same funding round. Category II (Core) FA Applicants applying for Base-FA, PPC–FA, and/or DF–FA must provide evidence of acceptable Matching Funds 3 (see Table 9 for more information), except Native American CDFIs 4 applying under this NOFA, which are exempt from the Matching Funds requirement.5 Native American CDFIs that qualify as a Category II (Core) FA Applicant are not required to submit Matching Funds for their award requests. Additionally, the Matching Funds requirement for HFFI– FA and SECA FA Applicants is waived in the enacted FY 2021 Consolidated Appropriations Act. Therefore, HFFI– 3 Matching Funds shall mean funds from sources other than the Federal government as defined in accordance with the CDFI Program Regulations at 12 CFR 1805.500. 4 A Native American CDFI (Native CDFI) is one that Primarily Serves a Native Community. Primarily Serves is defined as 50% or more of an Applicant’s activities being directed to a Native Community. For purposes of this NOFA, a Native Community is defined as Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as Federally-designated reservations, Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-designated Tribal Statistical Areas. 5 The Indian Community Economic Enhancement Act of 2020 (Pub. L. 116–261) permanently waives the Matching Funds requirement for Native American CDFIs that receive Assistance from the CDFI Fund. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 FA and SECA FA Applicants are not required to submit Matching Funds for their award requests. TA Applicants are not required to provide Matching Funds. 1. Base-FA Awards: Base-FA awards can be in the form of loans, grants, Equity Investments, deposits and credit union shares. The form of the Base-FA award is based on the form of the Matching Funds that the Applicant includes in its Application, unless Congress waived the Matching Funds requirement. The Matching Funds requirement was waived for the FY 2021 Funding Round for SECA FA Applicants and permanently waived for Native American CDFIs. Therefore, the Base-FA award will be in the form of a grant for SECA FA and Native American CDFI Applicants. Matching Funds are required for Category II (Core) Applicants applying for Base-FA awards, with the exception of Native American CDFIs, and must be from nonFederal 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 Base-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 Base-FA awards; therefore, only those Applicants that are selected to receive a Base-FA award through the CDFI Program FY 2021 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 waived the Matching Funds requirement. The Matching Funds requirement was waived for the FY 2021 Funding Round for SECA FA Applicants and permanently waived for Native American CDFIs. Therefore, the PPC–FA award will be in the form of a grant for SECA FA and Native American CDFI Applicants. Matching Funds are required for Category II (Core) Applicants applying for PPC–FA awards, with the exception of Native American CDFIs, and must be from nonFederal 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 PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 will not exceed the Applicant’s award request as stated in its Application. 3. Disability Funds—Financial Assistance (DF–FA) Awards: DF–FA awards will be provided as a supplement to Base-FA awards; therefore, only those Applicants that have been selected to receive a Base-FA award through the CDFI Program FY 2021 Funding 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 waived the Matching Funds requirement. The Matching Funds requirement was waived for the FY 2021 Funding Round for SECA FA Applicants and permanently waived for Native American CDFIs. Therefore, the DF–FA award will be in the form of a grant for SECA FA and Native American CDFI Applicants. Matching Funds are required for Category II (Core) Applicants applying for DF–FA awards, with the exception of Native American CDFIs, and 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. 4. Healthy Food Financing Initiative— Financial Assistance (HFFI–FA) Awards: HFFI–FA awards will be provided as a supplement to Base-FA awards; therefore, only those Applicants that have been selected to receive a Base-FA award through the CDFI Program FY 2021 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 waived the Matching Funds requirement. The Matching Funds requirement was waived for the FY 2021 Funding Round for HFFI–FA Applicants and permanently waived for Native American CDFIs. Therefore, all HFFI– FA awards will be in the form of a grant. 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. E:\FR\FM\19FEN1.SGM 19FEN1 10393 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 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 that 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: Base-FA, PPC–FA, DF– FA, and HFFI–FA award funds may be expended for activities serving Commercial Real Estate, Small Business, Microenterprise, Community Facilities, Consumer Financial Products, Consumer Financial Services, Commercial Financial Products, 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. The FA Budget is the amount of the award and must be expended in the five eligible activity categories prior to the end of the Budget Period.6 None of the eligible activity categories will be authorized for Indirect Costs or an associated Indirect Cost Rate. Base-FA Recipients must meet PG&Ms, 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 in an Eligible Market(s) and/or in the Applicant’s approved Target Market and/or Increase Volume of Financial Services in an Eligible Market(s) and/or in the Applicant’s approved Target Market; (ii) Serve Eligible Market(s) or the Applicant’s approved Target Market in New Geographic Area or Areas; (iii) Provide New Financial Products in an Eligible Market(s) and/or in the Applicant’s approved Target Market, Provide New Financial Services in an Eligible Market(s) and/or in the Applicant’s approved Target Market, or Provide New Development Services in an Eligible Market(s) and/or in the Applicant’s approved Target Market; and (iv) Serve New Targeted Population or Populations. FA awards may only be used for Direct Costs associated with an eligible activity; no indirect expenses are allowed. Up to 15% of the FA award may be used for Direct Administrative Expenses associated with an eligible FA activity. ‘‘Direct Administrative Expenses’’ shall mean Direct Costs, as described in 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 and 2 CFR 200.216 of the Uniform Requirements,7 with respect to any Direct Costs. For purposes of this NOFA, the five eligible activity categories are defined below: TABLE 3—BASE–FA, PPC–FA, DF–FA, AND HFFI–FA ELIGIBLE ACTIVITY CATEGORIES Eligible CDFI institution types FA eligible activity FA eligible activity definition * 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, loan refinancing, or any type of financing for prepared food outlets are not eligible activities. FA expended for providing checking, savings accounts, check cashing, money orders, certified checks, automated teller machines, deposit taking, safe deposit box services, and other similar services. FA set aside in the 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. FA expended for activities undertaken by a CDFI, its Affiliate or contractor that (i) promote community development and (ii) 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; business planning; and management assistance. 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. ii. Financial Services .......................... iii. Loan Loss Reserves ..................... iv. Development Services .................. v. Capital Reserves ............................ All. Regulated Institutions 8 only. Not applicable for HFFI-FA Recipients. All. All. Regulated Institutions only. Not applicable for DF– FA. tkelley on DSKBCP9HB2PROD with NOTICES * All FA eligible activities must be in an Eligible Market or the Applicant’s approved Target Market. 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, African American, Hispanic, Native American, Native Hawaiians residing in Hawaii, Alaska Natives residing in Alaska, or Other Pacific Islanders residing in American Samoa, Guam or the Northern Mariana Islands. 6 Budget Period means the time interval from the start date of a funded portion of an award to the end date of that funded portion during which Recipients are authorized to expend the funds awarded. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 7 2 CFR 200.216 prohibits Recipients and Subrecipients from obligating or expending loan or grant funds to procure or obtain, by contract or otherwise, equipment, services, or systems that use ‘‘covered telecommunications equipment’’. As used herein, ‘‘covered telecommunications equipment’’ is telecommunications equipment produced by PO 00000 Frm 00161 Fmt 4703 Sfmt 4703 Huawei Technologies Company or ZTE Corporation (or any Subsidiary or Affiliate of such entities). 8 Regulated Institutions include Insured Credit Unions, Insured Depository Institutions, StateInsured Credit Unions and Depository Institution Holding Companies. E:\FR\FM\19FEN1.SGM 19FEN1 10394 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 2. DF–FA Award: DF–FA award funds may 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, where the majority of the DF–FA supported loans or investments benefit individuals with disabilities, in an amount equal to or greater than 85% of the total DF–FA provided. 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 may be expended for the following eight eligible activity categories: (i) Compensation— Personal Services; (ii) Compensation— Fringe Benefits; (iii) Professional Service Costs; (iv) Travel Costs; (v) Training and Education Costs; (vi) Equipment; (vii) Supplies; and (viii) Incorporation Costs. The TA Budget is the amount of the award and must be expended in the eight eligible activity categories before the end of the Budget Period. None of the eligible activity categories will be authorized for Indirect Costs or an associated Indirect Cost Rate. Any expenses that are prohibited by the Uniform Requirements are unallowable and are generally found in Subpart E-Cost Principles. The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303 and 2 CFR 200.216 of the Uniform Requirements, with respect to any Direct Costs. For purposes of this NOFA, the eight eligible activity categories are defined below: TABLE 4—TA ELIGIBLE ACTIVITY CATEGORIES, SUBJECT TO THE APPLICABLE PROVISIONS OF THE UNIFORM REQUIREMENTS (i) Compensation—personal services .. (ii) Compensation—Fringe Benefits ..... (iii) Professional Service Costs ............ (iv) Travel Costs ................................... (v) Training and Education Costs ........ (vi) Equipment ...................................... tkelley on DSKBCP9HB2PROD with NOTICES (vii) Supplies ......................................... (viii) Incorporation Costs (Sponsoring Entities only). TA paid to cover all remuneration, paid currently or accrued, for services of Applicant’s employees rendered during the Period of Performance under the TA grant in accordance with § 200.430 of the Uniform Requirements. Any work performed directly but unrelated to the purposes of the TA grant may not 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 allowances and services provided by the Applicant to its employees as Compensation in addition to regular salaries and wages, in accordance with § 200.431 of the Uniform Requirements. Such expenditures are allowable as long as they are made under formally established and consistently applied organizational policies of the Applicant. 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 Applicant, in accordance with § 200.459 of the Uniform Requirements. 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. The Applicant must comply, as applicable, with 2 CFR 200.216 of the Uniform Requirements, with respect to payment of Professional Service Costs. TA used to pay costs of transportation, lodging, subsistence, and related items incurred by the Applicant’s personnel who are on travel status on business related to the TA award, in accordance with § 200.475 of the Uniform Requirements. Travel Costs do not include costs incurred by the Applicant’s consultants who are on travel status. 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 by the Applicant for employees’ development in accordance with § 200.473 of the Uniform Requirements. TA can only be used to pay for training costs incurred by the Applicant’s employees. Training and Education Costs may not be incurred by the Applicant’s consultants. 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, in accordance with § 200.1 of the Uniform Requirements. For example, items such as office furnishings and information technology systems are allowable as Equipment costs. The Applicant must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303 and 2 CFR 200.216 of the Uniform Requirements, 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, in accordance with § 200.1 of the Uniform Requirements. For example, a desktop computer costing $1,000 is allowable as a Supply cost. The Applicant must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 8301–8303 and 2 CFR 200.216 of the Uniform Requirements, with respect to the purchase of Supplies. TA used to pay for incorporation fees in connection with the establishment or reorganization of an organization as a CDFI, in accordance with § 200.455 of the Uniform Requirements. Incorporation Costs are allowable for NACA Program Sponsoring Entity Applicants only. 4. HFFI–FA Award: HFFI–FA award funds may only be expended for eligible VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 FA activities referenced in Table 3. The PO 00000 Frm 00162 Fmt 4703 Sfmt 4703 HFFI–FA investments must comply with the following guidelines: E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices a. Recipient must close Financial Products for Healthy Food Retail Outlets and Healthy Food Non-Retail Outlets in its approved Target Market in an amount equal to or greater than 100% 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 choices, 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 approved 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 2020– 2025 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 USDA Dietary Guidelines: https:// www.dietaryguidelines.gov). 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. 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. 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% of the applicable Area Median Family Income; or (3) be a Geographic 10395 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 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 may only be expended for eligible FA activities referenced in Table 3. The PPC–FA Recipient must close Financial Products in PPC in an Eligible Market or in the Applicant’s approved Target Market in an amount equal to or greater than 100% 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/ CDFIPPCFeb19-2020.xls. III. Eligibility Information A. Eligible Applicants: For the purposes of this NOFA, the following tables set forth the eligibility criteria 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). TABLE 5—CDFI CERTIFICATION CRITERIA DEFINITIONS Certified CDFI ....................................... Emerging CDFI (TA Applicants) ........... An entity that the CDFI Fund has officially notified that it meets all CDFI certification requirements. • A non-Certified entity that 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) must comply with CDFI certification PG&M(s) stated in its prior Assistance Agreement(s). An 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 tkelley on DSKBCP9HB2PROD with NOTICES Applicant ............................................... Application type and submission overview through Grants.gov and Awards Management Information System (AMIS). • Only the entity that will carry out the proposed award activities may apply for an award (other than Depository Institution Holding Companies (DIHC) 9—see below). Recipients may not 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. 9 Depository Institution Holding Company or DIHC means a Bank Holding Company or a Savings and Loan Holding Company. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 PO 00000 Frm 00163 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 10396 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS—Continued Employer Identification Number (EIN) Dun & Bradstreet, (DUNS) number ..... tkelley on DSKBCP9HB2PROD with NOTICES System for Award Management (SAM) AMIS Account ....................................... VerDate Sep<11>2014 21:07 Feb 18, 2021 • 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 undergo a two-step process that requires the submission of Application documents by two separate deadlines in two different locations: (1) The SF–424 in Grants.gov and (2) all other Required Application Documents in AMIS. • Grants.gov and the SF–424: Æ Grants.gov: Applicants must submit the Standard Form (SF) 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 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 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 submission deadline. Æ The SF–424 must be submitted under the CDFI Program Funding Opportunity Number for the CDFI Program Application. CDFI Program Applicants should be careful to not select the NACA Program Funding Opportunity Number when submitting their SF–424 for the CDFI Program. CDFI Program Applicants that submit their SF–424 for the CDFI Program Application under the NACA Program Funding Opportunity Number will be deemed ineligible for the CDFI Program Application. 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 Documents listed in Table 10: Æ AMIS is an enterprise-wide information technology system. 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 an employee or officer of the Applicant, authorized to sign legal documents on behalf of the organization. Consultants working on behalf of the organization may not be designated as Authorized Representatives. Æ Only the Authorized Representative or Application Point of Contact, included in the Application, may submit the Application in AMIS. Æ All Required Application Documents must be submitted in AMIS on or before the deadline specified in Tables 1 and 12. Æ The CDFI Fund will not extend the deadline for any Applicant except in the case of a Federal government administrative or technological error that directly resulted in the late submission of the Application in AMIS. • 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. • The EIN in the Applicant’s AMIS account must match the EIN in the Applicant’s System for Award Management (SAM) account. The CDFI Fund reserves the right to reject an Application if the EIN in the Applicant’s AMIS account does not match the EIN in its SAM account. • Applicants must enter their EIN into their AMIS profile on or before the deadline specified in Tables 1 and 12. • 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. • The DUNS number in the Applicant’s AMIS account must match the DUNS number in the Applicant’s Grants.gov and SAM accounts. The CDFI Fund will reject an Application if the DUNS number in the Applicant’s AMIS account does not match the DUNS number in its Grants.gov and SAM accounts. • Applicants must enter their DUNS number into their AMIS profile on or before the deadline specified in Tables 1 and 12. • 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 in order to submit an SF–424 in Grants.gov. • The CDFI Fund reserves the right to deem an Application ineligible if the Applicant’s SAM account expires during the Application evaluation period, or is set to expire before September 30, 2021, and the Applicant does not re-activate, or renew, as applicable, the account within the deadlines that the CDFI Fund communicates to affected Applicants during the Application evaluation period. • Each Applicant must register as an organization in AMIS and submit all Required Application Documents listed in Table 10 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 2021 CDFI Program Funding Round Critical Deadlines for Applicants—will be rejected without further consideration. Jkt 253001 PO 00000 Frm 00164 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 10397 TABLE 6—ELIGIBILITY REQUIREMENTS FOR ALL APPLICANTS—Continued 501 (c)(4) status ................................... Compliance with Nondiscrimination and Equal Opportunity Statutes, Regulations, and Executive Orders. Depository Institution Holding Company Applicant. Use of award ........................................ Requested award amount .................... Pending resolution of noncompliance .. Noncompliance or default status .......... Debarment/Do Not Pay Verification ..... • 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 and/or may 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 to receive 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, including 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. • 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)). • With the exception of Depository Institution Holding Company Applicants, awards may not 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, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund’s prior written consent. 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 and 2 CFR 200.216 of the Uniform Requirements, with respect to any Direct Costs. • An Applicant must state its requested award amount in the Application in AMIS. An Applicant 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 on 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 final determination that such entity is noncompliant or found in default 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 loan from the CDFI Fund within five years of the Application deadline. • The CDFI Fund will conduct a debarment check and will not consider an Application submitted by an Applicant (or Affiliate of an Applicant) if the Applicant is delinquent on any Federal debt. • The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the number of improper payments made through programs funded by the Federal government. The Do Not Pay Business Center provides delinquency information to the CDFI Fund to assist with the debarment check. TABLE 7—ELIGIBILITY REQUIREMENTS FOR TA APPLICANTS tkelley on DSKBCP9HB2PROD with NOTICES CDFI certification status ....................... Matching Funds .................................... Limitation on Awards ............................ Proposed Activities ............................... VerDate Sep<11>2014 21:07 Feb 18, 2021 (1) Emerging CDFIs (see definition in Table 5), or (2) Certified CDFIs (see Table 5) that meet the following SECA Applicant criteria: (1) Have total assets as of the end of the Applicant’s most recent historic fiscal year 10 in accordance with the FA Application Guidance (as stated in the Applicant’s AMIS account and verified by internally prepared financial statements and/or audits) in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: up to $250 million; • Insured Credit Unions and State-Insured Credit Unions: Up to $100 million; • Venture Capital Funds: ** Up to $5 million; • Other CDFIs: Up to $5 million; OR (2) Have begun operations (as indicated by the financing activity start date field in the Applicant’s AMIS account) on or after January 1, 2017. • Matching Funds documentation is not required for TA awards. • An Emerging CDFI may not receive 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. • With the exception of Sponsoring Entities in the NACA Program, Applicants may not propose to use a TA award to create a separate legal entity to become a Certified CDFI or otherwise carry out the TA award activities. Jkt 253001 PO 00000 Frm 00165 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 10398 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 7—ELIGIBILITY REQUIREMENTS FOR TA APPLICANTS—Continued Regulated Institution ............................. • Each Regulated Institution TA Applicant must have a CAMELS/CAMEL rating (rating for banks and credit unions, respectively) or equivalent type of rating by its regulator (collectively referred to as ‘‘CAMELS/CAMEL rating’’) of at least ‘‘4’’. • TA Applicants with CAMELS/CAMEL ratings of ‘‘5’’ will not be eligible for awards. • The CDFI Fund will also evaluate material concerns identified by the Appropriate Federal Banking Agency in determining the eligibility of Regulated Institution Applicants. ** A Venture Capital Fund is an organization that predominantly invests funds in businesses, typically in the form of either Equity Investments or subordinated debt with equity features such as a revenue participation or warrants, and generally seeks to participate in the upside returns of such businesses in an effort to at least partially offset the risk of its investments. TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS CDFI certification status ....................... Matching Funds documentation ........... Consideration as a Native American CDFI. tkelley on DSKBCP9HB2PROD with NOTICES $5 Million funding cap .......................... • Each FA Applicant must be a Certified CDFI prior to the date of the release of this NOFA. • 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. • If a Certified CDFI loses its certification at any point prior to the award announcement, the Application will no longer be considered by the CDFI Fund. • Native American CDFIs are not required to provide Matching Funds. • Applicants must submit acceptable documentation attesting that they have received or will receive Matching Funds. Applicants that do not complete the Matching Funds section in the FA Application in AMIS, documenting the source(s) of their Matching Funds, will not be evaluated. See Table 9 for additional information on Matching Funds requirements for FY 2021 Funding Round. The Matching Funds requirement for Category I (SECA) FA Applicants and HFFI–FA Applicants was waived in the final FY 2021 appropriations. Therefore HFFI–FA and SECA FA applicants are not required to submit Matching Funds for their award requests. Unless Congress waived the Matching Funds requirement, Applicants must document their Matching Funds in the Matching Funds section in the FA Application in AMIS. Matching Funds information provided in another format will not be considered. • Unless Congress waived the Matching Funds requirement, 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. See Table 9 for the definitions of Committed and In-Hand. • Unless Congress waived the Matching Funds requirement, 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. • Unless Congress waived the Matching Funds requirement, 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% of their Matching Funds are In-Hand. • Unless Congress waived the Matching Funds requirement, 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 Indian Community Economic Enhancement Act of 2020 (Pub. L. 116–261) permanently waived the Matching Funds requirements for Native American CDFIs. For consideration as a Native American CDFI under this NOFA, an FA Applicant must Primarily Serve a Native Community. Primarily Serves is defined as 50% or more of an Applicant’s activities being directed to a Native Community. • For purposes of this NOFA, a Native Community is defined as Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as Federally-designated reservations, Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-designated Tribal Statistical Areas. • Applicants that do not meet the above conditions will not be considered as a Native American CDFI under this NOFA. • Native American CDFI FA Applicants are not required to provide Matching Funds. Therefore, if the CDFI Fund determines that a Category II (Core) FA Applicant that attests in its Application to meeting the above conditions does not meet the criteria to be considered a Native American CDFI, the Application will be deemed ineligible for failure to provide Matching Funds. • 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 threeyear period from the Announcement Date. • For TA Applicants, for purposes of this NOFA and per final FY 2021 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 2019, and 2020 funding rounds, as well as the requested FY 2021 award, excluding DF–FA and HFFI–FA awards. 10 For the purposes of this NOFA, an Applicant’s most recent historic fiscal year end is determined as follows: (A) Applicants with a 3/31 fiscal year end date will treat FY 2020 as their most recent historic fiscal year and FY 2021 as their current year. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 (B) Applicants with a 6/30 fiscal year end date will treat FY 2020 as their most recent historic fiscal year and FY 2021 as their current year. (C) Applicants with a 9/30 fiscal year end date and a completed FY 2020 audit will treat FY 2020 as their most recent historic fiscal year and FY 2021 as their current year. PO 00000 Frm 00166 Fmt 4703 Sfmt 4703 (D) Applicants with a 9/30 fiscal year end date but without a completed FY 2020 audit will treat FY 2019 as their most recent historic fiscal year and FY 2020 as their current year. (E) Applicants with a 12/31 fiscal year end date, with or without a completed FY 2020 audit, will treat FY 2019 as their most recent historic fiscal year and FY 2020 as their current year. E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 10399 TABLE 8—ELIGIBILITY REQUIREMENTS FOR FA APPLICANTS—Continued FA Category I (SECA) .......................... FA Category II (Core) ........................... FA Applicants with Community Partners. Regulated Institution ............................. PPC–FA ................................................ DF–FA .................................................. tkelley on DSKBCP9HB2PROD with NOTICES HFFI–FA ............................................... • For FA Applicants, for purposes of this NOFA and per final FY 2021 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 2019 and 2020 funding rounds, as well as the requested FY 2021 award, excluding DF–FA and HFFI–FA awards. • To be an eligible SECA Applicant, an Applicant must meet the following criteria: (1) Be a Certified CDFI; (2) Request $700,000 or less in Base-FA funds; AND EITHER (3) Have total assets as of the end of the Applicant’s most recent historic fiscal year in accordance with the FA Application Guidance (as stated in the Applicant’s AMIS account and verified by internally prepared financial statements and/or audits) in the following amounts: • Insured Depository Institutions and Depository Institution Holding Companies: Up to $250 million; • Insured Credit Unions and State-Insured Credit Unions: Up to $100 million; • Venture Capital Funds: Up to $5 million; • Other CDFIs: Up to $5 million; OR • Have begun operations (as indicated by the financing activity start date field in the Applicant’s AMIS account) on or after January 1, 2017. • A Core Applicant must be a Certified CDFI as defined in Table 5. • An Applicant that meets the SECA requirements stated above, and that requests more than $700,000 in Base-FA award funds is categorized as an FA Category II (Core) Applicant, regardless of its total assets and/or years in operation. • Such Applicants who meet SECA requirements but wish to apply as a Core FA Applicant, by requesting more than $700,000, must submit a Service Request in AMIS to request that a Core-FA Application be created by the dates specified in Tables 1 and 12. The CDFI Fund will not change an Application back to a SECA FA Application after a request to create a Core FA Application has been submitted to the CDFI Fund. • A CDFI Applicant can apply for assistance jointly with a Community Partner. The CDFI Applicant must complete the CDFI Program Application and address the Community Partnership in its business plan and other sections of the Application as specified in the Application materials. • The CDFI Applicant must be a Certified 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 the partnership and how the partnership will enhance eligible activities serving the Investment Area and/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. • Each Regulated Institution FA Applicant must have a CAMELS/CAMEL rating (rating for banks and credit unions, respectively) or equivalent type of rating by its regulator (collectively referred to as ‘‘CAMELS/CAMEL rating’’) of at least ‘‘3’’. • FA Applicants with CAMELS/CAMEL ratings of ‘‘4 or 5’’ will not be eligible for awards. • The CDFI Fund will also evaluate material concerns identified by the Appropriate Federal Banking Agency in determining the eligibility of Regulated Institution Applicants. • 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. • 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 a Base–FA, PPC–FA, or DF–FA award, an Applicant must provide evidence of eligible dollar-fordollar Matching Funds and attest that it can provide acceptable documentation upon the CDFI Fund’s request as part of the Application, unless Congress waived the Matching Funds requirement. The Matching Funds requirement was waived for the FY 2021 VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 Funding Round for SECA FA and HFFI– FA Applicants and permanently waived for Native American CDFIs. Therefore, HFFI–FA, SECA FA, and Native American CDFI Applicants are not required to submit Matching Funds for their award requests. Matching Funds are not required for Native American CDFIs. An Applicant that represents that it has Equity Investments and/or deposits Matching Funds In- PO 00000 Frm 00167 Fmt 4703 Sfmt 4703 Hand at the time of Application submission must provide documentation of such as part of the Application. An Applicant that uses retained earnings as Matching Funds must provide supporting documentation of In-Hand and/or Committed Matching Funds at the time of Application submission. The CDFI Fund will review Matching Funds information, attestations, and supporting Matching E:\FR\FM\19FEN1.SGM 19FEN1 10400 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices Funds documentation, if applicable, prior to award payment and will disburse funds based upon eligible InHand Matching Funds. The CDFI Fund encourages Applicants to review the Regulations, 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 for Category II (Core) FA Applicants, with the exception of Native American CDFIs, applying for Base–FA, PPC–FA, and DF–FA. The Matching Funds requirement for HFFI–FA, and SECA FA Applicants is waived for the FY 2021 Funding Round. The Matching Funds requirement for Native American CDFIs is permanently waived. 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. Amount of required match .................... Determination of award form ................ Matching Funds Window definition ...... tkelley on DSKBCP9HB2PROD with NOTICES Matching Funds and form of award ..... Committed Matching Funds definition .. VerDate Sep<11>2014 21:07 Feb 18, 2021 • 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 the 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. • Unless Congress waived the Matching Funds requirement, Applicants must provide information on their In-Hand Matching Funds in the Matching Funds section of the FA Application in AMIS (refer to Table 10—Required Application Documents) at the time of Application submission. • Although Applicants are not required to provide further documentation for In-Hand Matching Funds at the time of Application submission (other than supporting documentation for retained earnings, deposits, and Equity Investments, which must be provided at the time of Application submission), they must be able to provide documentation to the CDFI Fund upon request. The following Applicants must provide evidence of acceptable Matching Funds: • Category II/Core FA Applicants, with the exception of Native American CDFIs, applying for Base–FA, PPC–FA, and DF–FA. TA Applicants and Native American CDFI FA Applicants are not required to provide Matching Funds. The Matching Funds requirement for HFFI–FA and SECA FA Applicants was waived in the final FY 2021 appropriations. Therefore, HFFI–FA and SECA FA Applicants are not required to provide Matching Funds. Unless waived by Congress, Applicants must provide evidence of eligible, In-Hand, dollar-for-dollar, non-Federal Matching Funds for every award dollar to be paid by the CDFI Fund. If awarded, Applicants that do not demonstrate 100% In-Hand Matching Funds at the time of Application submission may experience a longer payment timeline. Unless the Matching Funds requirement is waived by Congress, awards will be made in comparable form and value to the eligible In-Hand and/or Committed Matching Funds submitted by the Applicant. For awards where Congress has waived the Matching Funds requirement, the form of the award will be a grant. • For example, if an 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. • The CDFI Fund will not permit a Recipient to change the form of a loan award. For awards where Congress waives the Matching Funds requirement, the form of the award will be a grant. • The Applicant must receive eligible In-Hand Matching Funds between January 1, 2019 and January 15, 2022. • A Recipient must provide the CDFI Fund with all documentation demonstrating the receipt of In-Hand Matching Funds by January 31, 2022. • Recipients will be approved for a maximum award size of two times the total amount of eligible InHand and/or Committed Matching Funds included in the Application, so long as they do not exceed the requested 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 that the Matching Funds will be disbursed to the Applicant at a future date. • The Applicant must provide information on their Committed Matching Funds in the Matching Funds section of the FA Application in AMIS (refer to Table 10—Required Application Documents) at the time of Application submission. Jkt 253001 PO 00000 Frm 00168 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 10401 TABLE 9—MATCHING FUNDS REQUIREMENTS *—Continued 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 .. Matching Funds in the form of Equity Investments. Severe Constraints Waiver .................. Ineligible Matching Funds .................... tkelley on DSKBCP9HB2PROD with NOTICES Use of Matching Funds from a prior CDFI Program Recipient. VerDate Sep<11>2014 21:07 Feb 18, 2021 • Although the Applicant is not required to provide further documentation for Committed Matching Funds at the time of Application submission (other than supporting documentation for retained earnings, deposits, and Equity Investments, which must be provided at the time of Application submission), it 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. • Matching Funds must be from non-Federal sources. • Applicants cannot proffer Matching Funds that were accepted as Matching Funds for a prior award that required Matching Funds under the CDFI Program, NACA Program, or under another Federal grant or award program. • Matching Funds must comply with the Regulations. • Matching Funds must be attributable to at least one of the five eligible FA activities (see Section II (C) of this NOFA). • The CDFI Fund reserves the right to contact the Matching Funds source to discuss the Matching Funds and the documentation that the Applicant provided. • 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 award requiring Matching Funds and re-allocate the rescinded award amount to other qualified Applicant(s) if a Recipient fails to provide evidence of In-Hand Matching Funds obtained during the Matching Funds Window totaling its award amount. • Third party in-kind 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. The value of goods and services must directly benefit the eligible FA 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 pursuant to the Uniform Requirements. • An award made in the 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 0.66%, 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. • An Equity Investment source must meet the terms outlined in 12 CFR 1805.401(a): Equity: The CDFI Fund may make non-voting equity investments in a Recipient, including, without limitation, the purchase of non-voting stock. Such stock shall be transferable and, in the discretion of the CDFI Fund, may provide for convertibility to voting stock upon transfer. The CDFI Fund shall not own more than 50 percent of the equity of a Recipient and shall not control its operations. • The CDFI Fund’s ownership of equity is calculated by dividing the shares owned by the CDFI Fund by the total number of shares issued by the Recipient. • The CDFI Fund reserves the right, in its sole discretion, to perform its own valuation of Equity Investment source(s) and to determine if the equity value is acceptable to the CDFI Fund. • In the case of an Applicant demonstrating severe constraints on available sources of Matching Funds, the CDFI Fund, in its sole discretion, may provide a Severe Constraints Waiver, which permits such Applicant to comply with the Matching Funds requirements by reducing such requirements by up to 50%. • 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% of the total funds available for obligation under this funding round may qualify for a Severe Constraints Waiver. • Applicants will not be given the opportunity to correct or amend the Matching Funds information included in the FA Application after Application submission if the CDFI Fund determines that any portion of the Applicant’s Matching Funds is ineligible. 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. Jkt 253001 PO 00000 Frm 00169 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 10402 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 9—MATCHING FUNDS REQUIREMENTS *—Continued Matching Funds in the form of retained earnings. Special rule for Regulated Institutions • Retained earnings are eligible for use as Matching Funds in an amount equal to the CDFI Fund’s calculation of: 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 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 award will support its Subsidiary CDFI Insured Depository Institution. • A Regulated Institution’s retained earnings are eligible for use as Matching Funds in an amount equal to the CDFI Fund’s calculation of: 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 or State-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 (1) will be measured on a quarterly basis from March 31, 2021; (2) must occur by December 31, 2022; and (3) will be based on amounts reported in the Applicant’s National Credit Union Administration (NCUA) form 5300 Call Report, or equivalent. • 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 or equivalent that it has increased shares and/or total loans outstanding by at least 25% of the requested FA award amount (including all awards requiring Matching Funds) between December 31, 2019, and December 31, 2020. • The Matching Funds are not In-Hand until the Recipient has increased its member and/or nonmember shares, deposits and/or total loans outstanding by the amount of retained earnings since inception that are being used as Matching Funds. • If option (iii) is used for Insured Depository Institutions or Depository Institution Holding Companies, the Applicant or its Subsidiary CDFI 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 Subsidiary CDFI Insured Depository Institution that the requested the FA award will support. • This increase (1) will be measured on a quarterly basis from March 31, 2021; (2) must occur by December 31, 2022; and (3) will be based on amounts reported in the 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% of the requested FA award amount (including all awards requiring Matching Funds) between December 31, 2019, and December 31, 2020. • 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 that are being used as Matching Funds. • All regulated Applicants utilizing the option (iii) should refer to the Retained Earnings Guidance included in the Retained Earnings Calculator Excel Workbook found on the CDFI Fund’s website. * The requirements set forth in Table 9 are applicable to Category II (Core) FA Applicants, with the exception of Native American CDFIs, applying for Base-FA, PPC–FA, and DF–FA. The Matching Funds requirements for HFFI–FA and SECA FA Applicants were waived for the FY 2021 Funding Round and permanently waived for Native American CDFIs. Therefore, the requirements set forth in Table 9 are not applicable to HFFI– FA, SECA FA, and Native American CDFI Applicants for the FY 2021 Funding Round. tkelley on DSKBCP9HB2PROD with NOTICES IV. 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 cdfihelp@ VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 cdfi.treas.gov. Paper versions of Application materials will only be provided if an Applicant cannot access the CDFI Fund’s website. B. Content and Form of Application Submission: All Applications must be prepared using the English language, and calculations must be computed in U.S. dollars. The following table lists PO 00000 Frm 00170 Fmt 4703 Sfmt 4703 the Required Application Documents for the FY 2021 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 the Application. Information submitted by the Applicant that the CDFI Fund has not specifically requested will not be E:\FR\FM\19FEN1.SGM 19FEN1 10403 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices reviewed or considered as part of the Application. Financial data, portfolio, and activity information provided in the Application should only include the Applicant’s activities. Information submitted must accurately reflect the Applicant’s activities. TABLE 10—REQUIRED APPLICATION DOCUMENTS Application documents Applicant type Submission format 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. • Matching Funds (FA Core Applicants, with the exception of Native American CDFIs). PPC–FA Application Components: ................................................................ • Funding Application Detail .................................................................. • Narratives ............................................................................................ • AMIS Charts ........................................................................................ DF–FA Application Components: ................................................................... • Funding Application Detail .................................................................. • Narratives ............................................................................................ • AMIS Charts ........................................................................................ HFFI–FA Application Components: ................................................................ • Funding Application Detail .................................................................. • Narratives ............................................................................................ • AMIS charts ......................................................................................... All Applicants ..................................... All Applicants ..................................... All Applicants ..................................... AMIS. Fillable PDF in Grants.gov. AMIS. PPC–FA Applicants ........................... AMIS. DF–FA Applicants .............................. AMIS. HFFI–FA Applicants .......................... AMIS. ATTACHMENTS TO THE APPLICATION: Add to ‘‘Related Attachments’’ related list in Application Key Staff Resumes ........................................................................................ All Applicants ..................................... Organizational Chart ...................................................................................... Audited financial statements for the Applicant’s Three Most Recent Historic Fiscal Years. All Applicants ..................................... FA Applicants: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. TA Applicants, if available: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. FA Applicants: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. TA Applicants, if audited financial statements are available: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. tkelley on DSKBCP9HB2PROD with NOTICES Management Letter for the Applicant’s Most Recent Historic Fiscal Year. ... 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 by the Board Treasurer or other Board member using the template provided in the 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. (required only if audited financial statements are not available) ................... Current Year to Date—December 31, 2020 Unaudited financial statements Community Partnership Agreement ............................................................... Retained Earnings Calculator Excel Workbook ............................................. (required only if using retained earnings as Matching Funds) VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 PO 00000 Frm 00171 Fmt 4703 FA Applicants: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. TA Applicants, if audited financial statements ARE available but the Management Letters are NOT available: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. TA Applicants: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. FA and TA Applicants: Loan funds, Venture Capital Funds, and other non-Regulated Institutions. FA Applicants, if applicable ............... FA Core Applicants, if applicable ...... Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 PDF or Word document in AMIS. PDF in AMIS. PDF in AMIS. PDF in AMIS. AMIS. PDF in AMIS. PDF in AMIS. PDF or Word document in AMIS. Excel in AMIS. 10404 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 10—REQUIRED APPLICATION DOCUMENTS—Continued Application documents Applicant type Call reports for each fiscal year reported in the Retained Earnings Calculator. FA Core Applicants: Regulated Institutions that are using retained earnings as Matching Funds. FA Core Applicants: For-profit CDFIs that are using In-Hand Equity Investment(s) as Matching Funds. FA Core Applicants: Regulated Institutions that are using In-Hand Deposits as Matching Funds. Equity Investment Matching Funds Documentation ...................................... Deposits Matching Funds Documentation ..................................................... C. Application Submission: The CDFI Fund has a two-step process that requires the submission of Required Application Documents (listed in Table 10) on separate deadlines and locations. The SF–424 must be submitted through Grants.gov and all other Required 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 in writing by the CDFI Fund. The deadline for submitting the SF–424 is listed in Tables 1 and 12. All Applicants must register in the Grants.gov system to successfully submit the SF–424. The Grants.gov registration process can take 45 days or longer to complete and the CDFI Fund strongly encourages Applicants to start the Grants.gov registration process as early 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. Further, as described in Section IV. (E) of this NOFA, new requirements for registration in the System for Awards Management (SAM), which is required as part of the Grants.gov registration process, may take more time than in recent years. The CDFI Fund will not extend the Application deadline for 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 an employee or officer and is authorized to sign legal documents on behalf of the Applicant. Consultants working on behalf of the Applicant may not 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: 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 Submission format PDF in AMIS. PDF or Word document in AMIS. PDF or Word document in AMIS. submitting its Application. Registration in SAM is required as part of the Grants.gov registration process. The SAM registration process may take one month or longer to complete. A signed notarized letter identifying the SAM authorized entity administrator for the entity associated with the DUNS number is required. This requirement is applicable to new entities registering in SAM, as well as to existing entities with registrations being updated or renewed in SAM. 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 deem ineligible 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. tkelley on DSKBCP9HB2PROD with NOTICES TABLE 11—Grants.gov REGISTRATION TIMELINE SUMMARY Estimated minimum time to complete Step Agency Obtain a DUNS number .......................................................... Obtain an EIN Number ........................................................... Register in SAM.gov ............................................................... Dun & Bradstreet ................................................................... Internal Revenue Service (IRS) ............................................. System for Award Management (SAM.gov) .......................... VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 PO 00000 Frm 00172 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 One (1) Week.* Two (2) Weeks.* Four (4) Weeks.* 10405 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 11—Grants.gov REGISTRATION TIMELINE SUMMARY—Continued Estimated minimum time to complete Step Agency 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 deem ineligible 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 deadlines for the FY 2021 Funding Round. 1. Submission Deadlines: The following table provides the critical tkelley on DSKBCP9HB2PROD with NOTICES TABLE 12—FY 2021 CDFI PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Description Deadline Time (eastern time—ET) Last day to create an Awards Management Information Systems (AMIS) Account (all Applicants). Last day to enter EIN and DUNS numbers in AMIS (all Applicants). Last day to submit SF–424 (Application for Federal Assistance). Last day for SECA FA Applicants to request creation of a Core-FA Application (if requesting more than $700,000). Last day to contact CDFI Program staff ............... March 22, 2021 ...... 11:59 p.m ............... AMIS. March 22, 2021 ...... 11:59 p.m ............... AMIS. March 22, 2021 ..... 11:59 p.m ............... Electronically via Grants.gov. March 22, 2021 ...... 11:59 p.m ............... Service Request via AMIS. April 29, 2021 ........ 5:00 p.m ................. Last day to contact AMIS–IT Help Desk (regarding AMIS technical problems only). Last day to submit CDFI Program Application for Financial Assistance (FA) or Technical Assistance (TA). May 3, 2021 ........... 5:00 p.m ................. May 3, 2021 ........... 11:59 p.m ............... Service Request via AMIS; Or CDFI Fund Helpdesk: 202–653–0421. Service Request via AMIS; Or 202–653–0422; Or AMIS@cdfi.treas.gov. AMIS. 2. Confirmation of Application Submission in Grants.gov and AMIS: Applicants are required to submit the SF–424, Application for Federal Assistance through the Grants.gov system, under the CDFI Program Funding Opportunity Number by the applicable deadline. All other Required Application Documents (listed in Table 10) must be submitted through the AMIS website by the applicable deadline. Applicants must submit the SF–424 prior to submitting the Application in AMIS. If the SF–424 is not successfully accepted by Grants.gov by the deadline, the CDFI Fund will not review the Application 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, VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 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 Applicants to allow for sufficient time to review and complete all Required Application Documents listed in Table 10, and remedy any issues prior to the Application deadline. Each Application must be signed by an Authorized PO 00000 Frm 00173 Fmt 4703 Sfmt 4703 Submission method Representative in AMIS before it can be submitted. Applicants must ensure that the Authorized Representative is an employee or officer and is authorized to sign legal documents on behalf of the Applicant. Consultants working on behalf of the Applicant may not be designated as Authorized Representatives. Only an Authorized Representative or an Application Point of Contact may submit an Application. If an Authorized Representative or Application Point of Contact does not submit the Application, the Application will be deemed ineligible. Applicants may only submit one Base-FA or TA Application under the CDFI Program. 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 SF–424 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 Application deadline. In either case, the CDFI Fund E:\FR\FM\19FEN1.SGM 19FEN1 tkelley on DSKBCP9HB2PROD with NOTICES 10406 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 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 will not consider the 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 the late submission of the SF–424, the Applicant must submit a written request for acceptance of the 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 requests 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 the 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 requests 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: Base-FA, PPC–FA, DF–FA, HFFI–FA and TA awards are limited by the following: 1. Base-FA Awards: a. A Recipient shall use Base-FA funds only for the eligible activities described in Section II. (C)(1) of this NOFA and its Assistance Agreement. b. With the exception of Depository Institution Holding Company Applicants, Base-FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, thirdparty entities, whether Affiliates, Subsidiaries, or others, unless done VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund’s prior written consent. c. Base-FA funds shall only be paid to the Recipient. d. The CDFI Fund, in its sole discretion, may pay Base-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 and 2 CFR 200.216 of the Uniform Requirements, 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. With the exception of Depository Institution Holding Company Applicants, PPC–FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, thirdparty entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund’s prior written consent. 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 and 2 CFR 200.216 of the Uniform Requirements, 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. With the exception of Depository Institution Holding Company Applicants, DF–FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, thirdparty entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund’s prior written consent. 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 and 2 CFR PO 00000 Frm 00174 Fmt 4703 Sfmt 4703 200.216 of the Uniform Requirements, 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. With the exception of Depository Institution Holding Company Applicants, HFFI–FA awards may not be used to support the activities of, or otherwise be passed through, transferred, or co-awarded to, thirdparty entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with the CDFI Fund’s prior written consent. 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 and 2 CFR 200.216 of the Uniform Requirements, 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. With the exception of Depository Institution Holding Company Applicants, TA awards may not be used to support the activities of, or otherwise be passed through, transferred, or coawarded to, third-party entities, whether Affiliates, Subsidiaries, or others, unless done pursuant to a merger or acquisition or similar transaction, and with 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 and 2 CFR 200.216 of the Uniform Requirements, 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 E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 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 Base-FA, DF–FA, PPC–FA, HFFI–FA, and TA Applications in accordance with the process below. All internal and external reviewers will 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. 1. Base-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 the 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 pursuant to Section III of this NOFA. b. Step 2: Financial Analysis and Compliance Risk Evaluation: i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI Fund will consider financial safety and soundness information from the Appropriate Federal or State Banking Agency. As detailed in Table 8, each Regulated Institution FA Applicant must have a CAMELS/CAMEL rating of at least ‘‘3’’ and/or no significant materials concerns from its regulator. For non-regulated Applicants, the CDFI Fund will evaluate the financial health and viability of each nonregulated Applicant using financial information provided by the Applicant. For the Financial Analysis, each nonregulated Applicant 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-three (23) 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. ii. Step 2: Compliance Risk Evaluation: For the compliance analysis, the CDFI Fund will evaluate the compliance risk of each Applicant using information provided in the Application as well as an Applicant’s reporting history, reporting capacity, and performance risk with respect to the CDFI Fund’s PG&Ms. Each Applicant will receive a Total Compliance Composite Score on a scale of one (1) to 10407 five (5), with one (1) being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI Fund 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 their 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. 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% of the Core Applicant pool for Core Applicants or within the top 70% of the SECA 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. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when determining the Step 4 Applicant pool. TABLE 13—STEP 3: BASE-FA BUSINESS PLAN REVIEW SCORING CRITERIA tkelley on DSKBCP9HB2PROD with NOTICES Base-FA application sections Possible score 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. Each Applicant will be evaluated in each of the categories listed in Table 14 below, and will receive a Total Policy Objective Review Composite Score on a scale of one (1) to VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 Score needed to advance N/A. N/A. N/A. N/A. N/A. N/A. Core Applicants: Top 60% of all Core Applicant Step 3 Scores. SECA Applicants: Top 70% of all SECA Applicant Step 3 Scores. five (5), with one (1) being the highest score. Applicants are then grouped according to Total Policy Objective Review Scores. 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 PO 00000 Frm 00175 Fmt 4703 Sfmt 4703 Federal awards (including timeliness of reporting and compliance); ability to meet FA Objective(s) selected by BaseFA Applicants in their Applications; reports and findings from audits; and the Applicant’s ability to effectively implement Federal requirements, each of which could impact the Total Policy Objective Review Score. E:\FR\FM\19FEN1.SGM 19FEN1 10408 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 14—STEP 4: BASE-FA POLICY REVIEW SCORING CRITERIA Section Possible scores Economic Distress ............................................................................................................ Economic Opportunities .................................................................................................... Community Collaboration .................................................................................................. 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 ...................................................... 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 other factors, including but not limited to, the 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. For Core FA Applicants, the award cannot exceed 30% of the Applicant’s total portfolio outstanding as of the Applicant’s most recent historic fiscal year end. For SECA FA Applicants, the award cannot exceed 75% of the Applicant’s total portfolio outstanding as of the Applicant’s most recent historic fiscal year end, or the minimum award size as noted in Table 2, whichever is greater. 2. Healthy Food Financing InitiativeFA (HFFI–FA) Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate each HFFI–FA Application associated with a Base-FA Application that progresses to Step 4 of the FA Application review process. The reviewer will evaluate the Application sections listed in Table 15 and assign a Total HFFI- FA Score up to 60 points. The CDFI Fund will make awards to the highest scoring Applicants first. All Applications will be reviewed in accordance with standard reviewer evaluation materials. Applicants that fail to receive a Base-FA award will not be considered for a HFFI–FA award. The CDFI Fund conducts additional levels of due diligence for Applications that are under consideration for an HFFI–FA award. 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 but not limited to, an Applicant’s loan disbursement activity, total portfolio outstanding, or compliance with prior HFFI–FA awards. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions. TABLE 15—STEP 4 HFFI–FA APPLICATION SCORING CRITERIA Possible score Sections Target Market Profile .................. Healthy Food Financial Products Projected HFFI–FA Activities ..... HFFI Track Record ..................... Management Capacity for Providing Healthy Food Financing. 10 points. 10 points. 15 points. 20 points. 5 points. Total HFFI-FA Possible Score. 60 points. 3. Persistent Poverty Counties— Financial Assistance (PPC–FA) Application Scoring, Award Selection, Review, and Selection Process: A CDFI Fund internal reviewer will evaluate the PPC–FA request of each associated Base-FA Application that progresses to Step 4 of the FA Application review process. PPC–FA requests are not scored. PPC–FA award amounts will be Score needed to advance High score determined based on the total number of eligible Applicants and funding availability, the Applicant’s requested amount, and on certain factors, including but not limited to, an Applicant’s overall portfolio size, historical track record of deployment in PPC, pipeline of projects in PPC, minimum award size, and funding availability. Applicants that fail to receive a Base-FA award will not be considered for a PPC–FA award. 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 Base-FA Application that 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 three (3), 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 a Base-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 factors, 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. The CDFI Fund will make awards to the highest scoring Applicants first. TABLE 16—STEP 3 DF–FA APPLICATION SCORING CRITERIA Possible scores tkelley on DSKBCP9HB2PROD with NOTICES Section High score DF–FA Narrative Questions .................................................................................................................................... 1, 2, or 3 1 Total DF–FA Score ........................................................................................................................................... 1, 2, or 3 1 5. Technical Assistance (TA) Application Scoring, Award Selection, Review, and Selection Process: The CDFI Fund will evaluate each VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 Application to determine its eligibility pursuant to Section III of this NOFA. If the Application satisfies the eligibility criteria, the CDFI Fund will evaluate the PO 00000 Frm 00176 Fmt 4703 Sfmt 4703 TA Application. Emerging CDFI Applicants must receive a rating of Low Risk or Medium Risk in Section I of the TA Business Plan Review to progress to E:\FR\FM\19FEN1.SGM 19FEN1 10409 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices Section II of the TA Business Plan Review. Emerging CDFI Applicants that receive a rating of High Risk in Section I of the TA Business Plan Review will not be considered for an award. Section I of the TA Business Plan Review is not applicable for Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants must receive a rating of Low Risk or Medium Risk in Section II of the TA Business Plan Review to be considered for an award. Applicants that receive a rating of High Risk in Section II of the TA Business Plan Review will not be considered for an award. 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 will be evaluated on the Applicant’s demonstrated capability and plan to achieve CDFI certification within three years, or if a prior Recipient, the certification PG&M stated in its prior Assistance Agreement. An Applicant that is an Emerging 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 rate each part of the TA Business Plan Review as indicated in Table 17. TABLE 17—TA BUSINESS PLAN REVIEW Business plan review component Applicant type tkelley on DSKBCP9HB2PROD with NOTICES Section I: Primary Mission ........................................... Financing Entity ........................................... Target Market .............................................. Accountability .............................................. Development Services ................................ Section II: Target Market Needs & Strategy ................ Organizational Capacity .............................. Management Capacity ................................ Each TA Application will be evaluated by one internal CDFI Fund reviewer. All Applications will be reviewed in accordance with CDFI Fund standard reviewer evaluation materials for the Business Plan Review. The CDFI Fund conducts additional levels of due diligence for Applications that are under consideration 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 compliance risk of each Applicant using information provided in the Application as well as an Applicant’s reporting history, reporting capacity, and performance risk with respect to the CDFI Fund’s PG&Ms. Each Applicant will receive a Total Compliance Composite Score on a scale of one (1) to five (5), with one (1) being the highest rating. Applicants that receive an initial Total Compliance Composite Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high compliance risk after CDFI staff review, the Applicant will not be considered for an award. 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 VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 Emerging Emerging Emerging Emerging Emerging CDFI CDFI CDFI CDFI CDFI Ratings Applicants .............................. Applicants. Applicants. Applicants. Applicants. Low Risk, Medium Risk, or High Risk. Emerging and Certified CDFI Applicants ......... Emerging and Certified CDFI Applicants. Emerging and Certified CDFI Applicants. Low Risk, Medium Risk, or High Risk. be reduced as a result of the due diligence analysis in addition to consideration of the Applicant’s funding request and similar factors. Lastly, the CDFI Fund may consider the geographic diversity of Applicants when making its funding decisions. 6. Regulated 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 Certified CDFI Subsidiary Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal or State Banking Agency identifies safety and soundness concerns, the CDFI Fund will assess whether such concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested. 7. Non-Regulated Institutions: 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 PO 00000 Frm 00177 Fmt 4703 Sfmt 4703 be dependent upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is determined that 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 announcement before September 30, 2021. However, the anticipated award Announcement Date is subject to change without notice. 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 E:\FR\FM\19FEN1.SGM 19FEN1 10410 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices final, and there is no right to appeal 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 be limited to the: (i) Award amount; (ii) award type; (iii) award uses; (iv) eligible use of funds; (v) PG&Ms; and (vi) reporting requirements. FA Assistance Agreements have three-year Periods of Performance. TA Assistance Agreements have two-year Period of Performance for Certified CDFIs and three-year Periods of Performance for Emerging CDFIs. 1. Certificate of Good Standing: All FA and TA Recipients that are not Regulated 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% of their Matching Funds are In-Hand. The first payment is the estimated amount of the 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 announcement. The CDFI Fund reserves the right to increase the first payment amount on any award to ensure that any subsequent payments are at least $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(s) in accordance with the Uniform Requirements. 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 Assistance 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 in the Uniform Requirements; indicates that the Recipient is not in compliance with a term or condition of a prior CDFI Fund award; indicates the Recipient has failed to execute and return a prior round Assistance Agreement to the CDFI Fund within the CDFI Fund’s deadlines; 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 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 in compliance 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 such reporting requirements are met. If the Recipient is unable to meet the requirement(s) within the timeframe specified by the CDFI Fund, 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 are not a determination of meeting reporting requirements. • An FA Recipient must be a Certified CDFI. • 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. • If a TA Recipient is a Certified CDFI at the time of award announcement, it must maintain CDFI certification. • If a Certified CDFI TA Recipient fails to maintain CDFI certification, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA. tkelley on DSKBCP9HB2PROD with NOTICES Failure to maintain CDFI certification ................. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 PO 00000 Frm 00178 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 10411 TABLE 18—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT—Continued Requirement Criteria Pending resolution of noncompliance ................ • 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 or found in default with any previously executed 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 noncompliance by taking actions the CDFI Fund has specified within such specified timeframe. If the Recipient is unable to cure the noncompliance 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. • 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 (or Affiliate of a Recipient) is determined to be ineligible based on data 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 its safety and soundness prior to entering into an Assistance Agreement. Noncompliance or default status ........................ Compliance with Federal civil rights requirements. Do Not Pay ......................................................... Safety and soundness ........................................ C. Reporting Performance, the CDFI Fund may collect information from each Recipient including, but not limited to, an Annual 1. Reporting requirements: On an annual basis during the Period of Report with the following components (Annual Reporting Requirements): TABLE 19—ANNUAL REPORTING REQUIREMENTS * Financial Statement Audit Report (Non-profit Recipient including Insured Credit Unions and State-Insured Credit Unions). Financial Statement Audit Report (ForProfit Recipient). Financial Statement Audit Report (Depository Institution Holding Company and Insured Depository Institution). Single Audit Report (Non-Profit Recipients, if applicable). tkelley on DSKBCP9HB2PROD with NOTICES Transaction Level Report (TLR) ........... VerDate Sep<11>2014 21:07 Feb 18, 2021 A Non-profit Recipient (including Insured Credit Unions and State-Insured Credit Unions) 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 FSA Report in AMIS, along with the Recipient’s statement of financial condition audited or reviewed by an independent certified public accountant. If the Recipient is a Depository Institution Holding Company or an Insured Depository Institution, it must submit a FSA Report in AMIS. A non-profit Recipient must complete an annual Single Audit pursuant to the Uniform Requirements (see 2 CFR Subpart F-Audit Requirements) if it expends $750,000 or more in Federal awards in its fiscal year, or such other dollar threshold established by OMB pursuant to 2 CFR 200.501. If a Single Audit is required, it must be submitted electronically to the Federal Audit Clearinghouse (FAC) (see 2 CFR subpart F-Audit Requirements in the Uniform Requirements) and optionally through AMIS. The Recipient must submit a TLR to the CDFI Fund through AMIS. If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary CDFI Insured Depository Institution, that Subsidiary CDFI Insured Depository Institution must also submit a TLR. Furthermore, if the Depository Institution Holding Company itself deploys any portion of the Financial Assistance, the Depository Institution Holding Company must submit a TLR. The TLR is not required for TA Recipients. Jkt 253001 PO 00000 Frm 00179 Fmt 4703 Sfmt 4703 E:\FR\FM\19FEN1.SGM 19FEN1 10412 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices TABLE 19—ANNUAL REPORTING REQUIREMENTS *—Continued Uses of Award Report .......................... Shareholders Report ............................ Performance Progress Report ............. The Recipient must submit the Uses of Award Report to the CDFI Fund in AMIS. If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary CDFI Insured Depository Institution, that Subsidiary CDFI Insured Depository Institution must also submit a Uses of Award Report. Furthermore, if the Depository Institution Holding Company itself deploys any portion of the Financial Assistance, the Depository Institution Holding Company must submit a Uses of Award 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. The Shareholders Report is submitted through AMIS. The Recipient must submit the Performance Progress Report through AMIS. If the Recipient is a Depository Institution Holding Company that deploys all or a portion of its Financial Assistance through its Subsidiary CDFI Insured Depository Institution, that Subsidiary CDFI Insured Depository Institution must also submit a Performance Progress Report. Furthermore, if the Depository Institution Holding Company itself deploys any portion of the Financial Assistance, the Depository Institution Holding Company must submit a Performance Progress Report. * Personally Identifiable Information (PII) is information, which if lost, compromised, or disclosed without authorization, could result in substantial harm, embarrassment, inconvenience, or unfairness to an individual. Although Applicants are required to enter addresses of individual borrowers/residents of Distressed Communities in AMIS, Applicants should not include the following PII for the individuals who received the Financial Products or Financial Services in AMIS or in the supporting documentation (i.e., name of the individual, Social Security Number, driver’s license or state identification number, passport number, Alien Registration Number, etc.). This information should be redacted from all supporting documentation. 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/or documentation. The CDFI Fund will use such information to monitor each Recipient’s compliance with the requirements of 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 the CDFI Fund to ensure compliance with the terms and conditions of the CDFI Program, including the tracing of funds to a level of expenditures adequate to establish that such funds have been used in accordance with 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 appropriate action when not in compliance; and safeguard personally identifiable information. 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 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, Office of Certification, Compliance Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on its website responses to reoccurring questions received about the NOFA and 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: tkelley on DSKBCP9HB2PROD with NOTICES TABLE 20—CONTACT INFORMATION Type of question Preferred method Telephone number (not toll free) CDFI Program ................................ CCME ............................................ AMIS—IT Help Desk ...................... 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, the preferred method of contact is to submit a Service Request within AMIS. For the Service Request, select ‘‘Technical Issues’’ from the Program dropdown menu of the Service Request. People who have visual or mobility impairments that prevent them from using the CDFI Fund’s website VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 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, PO 00000 Frm 00180 Fmt 4703 Sfmt 4703 Email addresses cdfihelp@cdfi.treas.gov ccme@cdfi.treas.gov AMIS@cdfi.treas.gov Subsidiaries, Affiliates, and signatories maintain accurate contact information in their accounts. This includes information such as contact names (especially for the Authorized Representative), email addresses, fax and phone numbers, and office locations. E:\FR\FM\19FEN1.SGM 19FEN1 Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 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). E. Statutory and National Policy Requirements: The CDFI Fund will manage and administer the Federal award in a manner so as to ensure that Federal funding is expended and associated programs are implemented in full accordance with the U.S. Constitution, Federal Law, statutory, and public policy requirements: including but not limited to, those protecting free speech, religious liberty, public welfare, the environment, and prohibiting discrimination. 10413 Authority: 12 U.S.C. 4701, et seq; 12 CFR parts 1805 and 1815; 2 CFR part 200. 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, inclusive of PPC–FA, DF–FA, and HFFI–FA. 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. Jodie L. Harris, Director, Community Development Financial Institutions Fund. [FR Doc. 2021–03356 Filed 2–18–21; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Notice of Funds Availability Inviting Applications for Financial Assistance Awards or Technical Assistance Grants Under the Native American CDFI Assistance Fiscal Year 2021 Funding Round Funding Opportunity Title: Notice of Funds Availability (NOFA) inviting Applications for Financial Assistance (FA) awards or Technical Assistance (TA) grants under the Native American CDFI Assistance (NACA Program) fiscal year (FY) 2021 Funding Round. Announcement Type: Announcement of funding opportunity. Funding Opportunity Number: CDFI– 2021–NACA. Catalog of Federal Domestic Assistance (CFDA) Number: 21.012. DATES: tkelley on DSKBCP9HB2PROD with NOTICES TABLE 1—FY 2021 NACA PROGRAM FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS Description Deadline Time (eastern time—ET) Last day to create an Awards Management Information Systems (AMIS) Account (all Applicants). Last day to enter EIN and DUNS numbers in AMIS (all Applicants). Last day to submit SF–424 Mandatory (Application for Federal Assistance). Last day to contact NACA Program staff ................. March 22, 2021 ...... 11:59 p.m. ...... AMIS. March 22, 2021 ...... 11:59 p.m. ...... AMIS. March 22, 2021 ...... 11:59 p.m. ...... Electronically via Grants.gov. April 29, 2021 ........ 5:00 p.m. ........ Last day to contact AMIS–IT Help Desk (regarding AMIS technical problems only). May 3, 2021 ........... 5:00 p.m. ........ Last day to submit NACA Program Application for Financial Assistance (FA) or Technical Assistance (TA). May 3, 2021 ........... 11:59 p.m. ...... Service Request 1 via AMIS or CDFI Fund Helpdesk: 202–653–0421. Service Request via AMIS or 202–653–0422 or AMIS@cdfi.treas.gov AMIS. Executive Summary: Through the NACA Program, the Community Development Financial Institutions (CDFI) Fund provides (i) FA awards of up to $1 million to Certified Community Development Financial Institutions 1 Service Request shall mean a written inquiry or notification submitted to the CDFI Fund via AMIS. VerDate Sep<11>2014 21:07 Feb 18, 2021 Jkt 253001 Submission method (CDFIs) serving Native American, Alaska Native, or Native Hawaiian populations or Native American areas defined as Federally-designated reservations, Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-designated Tribal Statistical Areas (collectively, ‘‘Native PO 00000 Frm 00181 Fmt 4703 Sfmt 4703 Communities’’) to build their financial capacity to lend to Eligible Markets and/ or their Target Markets, and (ii) TA grants of up to $150,000 to build Certified, and Emerging CDFIs’ organizational capacity to serve Eligible Markets and/or their Target Markets, and Sponsoring Entities ability to create E:\FR\FM\19FEN1.SGM 19FEN1

Agencies

[Federal Register Volume 86, Number 32 (Friday, February 19, 2021)]
[Notices]
[Pages 10390-10413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03356]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability Inviting Applications for Financial 
Assistance Awards or Technical Assistance Grants under the Community 
Development Financial Institutions Program Fiscal Year 2021 Funding 
Round

    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) 2021 Funding 
Round.
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2021-FATA
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.020
    Dates:

                  Table 1--FY 2021 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
           Description                    Deadline            Time  (eastern time-ET)       Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards      March 22, 2021..........  11:59 p.m..................  AMIS.
 Management Information Systems
 (AMIS) Account (all Applicants).
Last day to enter EIN and DUNS    March 22, 2021..........  11:59 p.m..................  AMIS.
 numbers in AMIS (all
 Applicants).
Last day to submit SF-424         March 22, 2021..........  11:59 p.m..................  Electronically via
 Mandatory (Application for                                                               Grants.gov.
 Federal Assistance).
Last day for Applicants that      March 22, 2021..........  11:59 p.m..................  Service Request \1\ via
 meet the SECA requirements, but                                                          AMIS.
 wish to apply for CORE-FA, to
 request creation of a Core-FA
 Application (if requesting more
 than $700,000).
Last day to contact CDFI Program  April 29, 2021..........  5:00 p.m...................  Service Request via
 staff.                                                                                   AMIS Or CDFI Fund
                                                                                          Helpdesk: 202-653-
                                                                                          0421.
Last day to contact AMIS-IT Help  May 3, 2021.............  5:00 p.m...................  Service Request via
 Desk (regarding AMIS technical                                                           AMIS or 202-653-0422
 problems only).                                                                          Or
                                                                                          [email protected].
Last day to submit CDFI Program   May 3, 2021.............  11:59 p.m..................  AMIS.
 Application for 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 Eligible Markets and/or their Target Markets, and (ii) TA 
grants of up to $125,000 to build Certified, and Emerging CDFIs' 
organizational capacity to serve Eligible Markets and/or their Target 
Markets. All awards provided through this NOFA are subject to funding 
availability.
---------------------------------------------------------------------------

    \1\ Service Request shall mean a written inquiry or notification 
submitted to the CDFI Fund via AMIS.
---------------------------------------------------------------------------

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. The CDFI Program made its first awards in 1996 
and the Native American CDFI Assistance (NACA) Program made its first 
awards in 2002.
    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 Financial 
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.) 
(Authorizing Statute). 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

[[Page 10391]]

encourages Applicants to review the Regulations; this NOFA; the CDFI 
Program Application for Financial Assistance or Technical Assistance 
(the Application); all related materials and guidance documents found 
on the CDFI Fund's website (Application materials); and the Uniform 
Administrative Requirements, Cost Principles, and Audit Requirements 
for Federal Awards (2 CFR part 1000), which is the Department of the 
Treasury's codification of the Office of Management and Budget (OMB) 
government-wide framework for grants management at 2 CFR part 200 (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, Application materials, or 
the Uniform Requirements. Details regarding Application content 
requirements are found in the Application and Application materials.
    D. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR Part 1000): The Uniform 
Requirements codify financial, administrative, procurement, and program 
management standards that Federal award agencies must follow. When 
evaluating Applications, awarding agencies must evaluate the risks 
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 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 2021 Funding Round: The CDFI Fund expects to award, through 
this NOFA, approximately $188 million as indicated in the following 
table:

                                               Table 2--FY 2021 Funding Round Anticipated Category Amounts
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                    Award amount                                  Estimate
                                                 Estimated  total ------------------------------------------------  Estimated     average      Average
 Funding categories  (See definition in table 7    amount to be                                                     number of      amount       amount
           for TA or table 8 for FA)                  awarded                 Minimum \2\               Maximum     awards for   awarded in   awarded in
                                                    (millions)                                                       FY 2021      FY 2021      FY 2020
--------------------------------------------------------------------------------------------------------------------------------------------------------
Base-FA: Category I/Small and/or Emerging CDFI                $25  $125,000.........................     $700,000           83     $300,000     $424,000
 Assistance (SECA).
Base-FA: Category II/Core......................             105.2  $500,000, or if portfolio            1,000,000          179      589,000      592,000
                                                                    outstanding is less than
                                                                    $1,666,700 as of the most recent
                                                                    historic fiscal year end, then
                                                                    30% of portfolio outstanding.
Persistent Poverty Counties--Financial                       18.8  100,000..........................      300,000          106      175,000      174,000
 Assistance (PPC-FA).
Disability Funds--Financial Assistance (DF-FA)                  6  100,000..........................      500,000           17      353,000      235,000
 *.
TA.............................................                10  10,000...........................      125,000           80      125,000      125,000
Healthy Food Financing Initiative--Financial                   23  500,000..........................    5,000,000           14    1,643,000    1,692,000
 Assistance (HFFI-FA) *.
                                                --------------------------------------------------------------------------------------------------------
    Total......................................               188  .................................  ...........          479  ...........  ...........
--------------------------------------------------------------------------------------------------------------------------------------------------------
\*\ 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\ The FA Application Guidance defines ``the most recent 
historic fiscal year'' based on an Applicant's fiscal year end.
---------------------------------------------------------------------------

    2. Funding Availability for the FY 2021 Funding Round: As of the 
date of this NOFA the CDFI Fund is operating under the Consolidated 
Appropriations Act, 2021 (Pub. L. 116-260).
    3. Anticipated Start Date and Period of Performance: The Period of 
Performance for TA grants begins with the date of the award 
announcement and includes either (i) an Emerging CDFI Recipient's three 
full consecutive fiscal years after the date of the award announcement, 
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 and Measures (PG&Ms) 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 award 
announcement, during which time the Recipient must meet the PG&Ms 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 under the CDFI Program, but not both. FA Awards 
include the Base Financial Assistance (Base-FA) award and the following 
awards that are provided as a supplement to the Base-FA award: Healthy 
Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent 
Poverty Counties-Financial Assistance (PPC-FA), and Disability Funds-
Financial Assistance (DF-FA). The HFFI-FA, PPC-FA, and DF-FA 
Applications will be evaluated independently from the Base-FA 
Application, and will not affect the

[[Page 10392]]

Base-FA Application evaluation or Base-FA award amount.
    However, Applicants that qualify for the NACA Program may submit 
two Applications: One Application--either for a TA grant or an FA 
award, but not both--through the CDFI Program, and one Application--
either for a TA grant or an FA award, but not both--through the NACA 
Program. NACA qualified Applicants that choose to apply for awards 
through both the CDFI Program and the NACA Program may either apply for 
the same type of award under each Program or for a different type of 
award under each Program. NACA qualified FA Applicants that choose to 
apply for an FA award under both the NACA Program and CDFI Program and 
are selected for an award under both Programs will be provided the FA 
award under the CDFI Program. NACA qualified TA Applicants that choose 
to apply for a TA award under both the NACA Program and CDFI Program 
and are selected for an award under both Programs will be provided the 
TA award under the NACA Program. NACA qualified Applicants that choose 
to apply for a TA award and a FA award under separate programs will be 
provided the larger of the two awards. NACA Applicants cannot receive 
an award under both Programs within the same funding round.
    Category II (Core) FA Applicants applying for Base-FA, PPC-FA, and/
or DF-FA must provide evidence of acceptable Matching Funds \3\ (see 
Table 9 for more information), except Native American CDFIs \4\ 
applying under this NOFA, which are exempt from the Matching Funds 
requirement.\5\ Native American CDFIs that qualify as a Category II 
(Core) FA Applicant are not required to submit Matching Funds for their 
award requests. Additionally, the Matching Funds requirement for HFFI-
FA and SECA FA Applicants is waived in the enacted FY 2021 Consolidated 
Appropriations Act. Therefore, HFFI-FA and SECA FA Applicants are not 
required to submit Matching Funds for their award requests. TA 
Applicants are not required to provide Matching Funds.
---------------------------------------------------------------------------

    \3\ Matching Funds shall mean funds from sources other than the 
Federal government as defined in accordance with the CDFI Program 
Regulations at 12 CFR 1805.500.
    \4\ A Native American CDFI (Native CDFI) is one that Primarily 
Serves a Native Community. Primarily Serves is defined as 50% or 
more of an Applicant's activities being directed to a Native 
Community. For purposes of this NOFA, a Native Community is defined 
as Native American, Alaska Native, or Native Hawaiian populations or 
Native American areas defined as Federally-designated reservations, 
Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-
designated Tribal Statistical Areas.
    \5\ The Indian Community Economic Enhancement Act of 2020 (Pub. 
L. 116-261) permanently waives the Matching Funds requirement for 
Native American CDFIs that receive Assistance from the CDFI Fund.
---------------------------------------------------------------------------

    1. Base-FA Awards: Base-FA awards can be in the form of loans, 
grants, Equity Investments, deposits and credit union shares. The form 
of the Base-FA award is based on the form of the Matching Funds that 
the Applicant includes in its Application, unless Congress waived the 
Matching Funds requirement. The Matching Funds requirement was waived 
for the FY 2021 Funding Round for SECA FA Applicants and permanently 
waived for Native American CDFIs. Therefore, the Base-FA award will be 
in the form of a grant for SECA FA and Native American CDFI Applicants. 
Matching Funds are required for Category II (Core) Applicants applying 
for Base-FA awards, with the exception of Native American CDFIs, and 
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 Base-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 Base-FA 
awards; therefore, only those Applicants that are selected to receive a 
Base-FA award through the CDFI Program FY 2021 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 waived 
the Matching Funds requirement. The Matching Funds requirement was 
waived for the FY 2021 Funding Round for SECA FA Applicants and 
permanently waived for Native American CDFIs. Therefore, the PPC-FA 
award will be in the form of a grant for SECA FA and Native American 
CDFI Applicants. Matching Funds are required for Category II (Core) 
Applicants applying for PPC-FA awards, with the exception of Native 
American CDFIs, and 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.
    3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA 
awards will be provided as a supplement to Base-FA awards; therefore, 
only those Applicants that have been selected to receive a Base-FA 
award through the CDFI Program FY 2021 Funding 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 waived the 
Matching Funds requirement. The Matching Funds requirement was waived 
for the FY 2021 Funding Round for SECA FA Applicants and permanently 
waived for Native American CDFIs. Therefore, the DF-FA award will be in 
the form of a grant for SECA FA and Native American CDFI Applicants. 
Matching Funds are required for Category II (Core) Applicants applying 
for DF-FA awards, with the exception of Native American CDFIs, and 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.
    4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA 
awards; therefore, only those Applicants that have been selected to 
receive a Base-FA award through the CDFI Program FY 2021 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 waived the Matching Funds requirement. The Matching Funds 
requirement was waived for the FY 2021 Funding Round for HFFI-FA 
Applicants and permanently waived for Native American CDFIs. Therefore, 
all HFFI-FA awards will be in the form of a grant. 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.

[[Page 10393]]

    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 that 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: Base-FA, PPC-FA, DF-FA, and HFFI-FA award funds may 
be expended for activities serving Commercial Real Estate, Small 
Business, Microenterprise, Community Facilities, Consumer Financial 
Products, Consumer Financial Services, Commercial Financial Products, 
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. The FA Budget is 
the amount of the award and must be expended in the five eligible 
activity categories prior to the end of the Budget Period.\6\ None of 
the eligible activity categories will be authorized for Indirect Costs 
or an associated Indirect Cost Rate. Base-FA Recipients must meet 
PG&Ms, 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 in 
an Eligible Market(s) and/or in the Applicant's approved Target Market 
and/or Increase Volume of Financial Services in an Eligible Market(s) 
and/or in the Applicant's approved Target Market; (ii) Serve Eligible 
Market(s) or the Applicant's approved Target Market in New Geographic 
Area or Areas; (iii) Provide New Financial Products in an Eligible 
Market(s) and/or in the Applicant's approved Target Market, Provide New 
Financial Services in an Eligible Market(s) and/or in the Applicant's 
approved Target Market, or Provide New Development Services in an 
Eligible Market(s) and/or in the Applicant's approved Target Market; 
and (iv) Serve New Targeted Population or Populations. FA awards may 
only be used for Direct Costs associated with an eligible activity; no 
indirect expenses are allowed. Up to 15% of the FA award may be used 
for Direct Administrative Expenses associated with an eligible FA 
activity. ``Direct Administrative Expenses'' shall mean Direct Costs, 
as described in 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.
---------------------------------------------------------------------------

    \6\ Budget Period means the time interval from the start date of 
a funded portion of an award to the end date of that funded portion 
during which Recipients are authorized to expend the funds awarded.
---------------------------------------------------------------------------

    The Recipient must comply, as applicable, with the Buy American Act 
of 1933, 41 U.S.C. 8301-8303 and 2 CFR 200.216 of the Uniform 
Requirements,\7\ with respect to any Direct Costs. For purposes of this 
NOFA, the five eligible activity categories are defined below:
---------------------------------------------------------------------------

    \7\ 2 CFR 200.216 prohibits Recipients and Subrecipients from 
obligating or expending loan or grant funds to procure or obtain, by 
contract or otherwise, equipment, services, or systems that use 
``covered telecommunications equipment''. As used herein, ``covered 
telecommunications equipment'' is telecommunications equipment 
produced by Huawei Technologies Company or ZTE Corporation (or any 
Subsidiary or Affiliate of such entities).
    \8\ Regulated Institutions include Insured Credit Unions, 
Insured Depository Institutions, State-Insured Credit Unions and 
Depository Institution Holding Companies.

                    Table 3--Base-FA, PPC-FA, DF-FA, and HFFI-FA Eligible Activity Categories
----------------------------------------------------------------------------------------------------------------
                                                                                              Eligible CDFI
         FA eligible activity                  FA eligible activity definition *            institution types
----------------------------------------------------------------------------------------------------------------
i. Financial Products................  FA expended as loans, Equity Investments and      All.
                                        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, loan
                                        refinancing, or any type of financing for
                                        prepared food outlets are not eligible
                                        activities.
ii. Financial Services...............  FA expended for providing checking, savings       Regulated Institutions
                                        accounts, check cashing, money orders,            \8\ only. Not
                                        certified checks, automated teller machines,      applicable for HFFI-FA
                                        deposit taking, safe deposit box services, and    Recipients.
                                        other similar services.
iii. Loan Loss Reserves..............  FA set aside in the form of cash reserves, or     All.
                                        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 activities undertaken by a CDFI,  All.
                                        its Affiliate or contractor that (i) promote
                                        community development and (ii) 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; business
                                        planning; and management assistance.
v. Capital Reserves..................  FA set aside as reserves to support the           Regulated Institutions
                                        Applicant's ability to leverage other capital,    only. Not applicable
                                        for such purposes as increasing its net assets    for DF-FA.
                                        or providing financing, or for related purposes
                                        as the CDFI Fund deems appropriate.
----------------------------------------------------------------------------------------------------------------
* All FA eligible activities must be in an Eligible Market or the Applicant's approved Target Market. 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, African American, Hispanic, Native American, Native Hawaiians residing
  in Hawaii, Alaska Natives residing in Alaska, or Other Pacific Islanders residing in American Samoa, Guam or
  the Northern Mariana Islands.


[[Page 10394]]

    2. DF-FA Award: DF-FA award funds may 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, where the majority of the DF-FA supported 
loans or investments benefit individuals with disabilities, in an 
amount equal to or greater than 85% of the total DF-FA provided. 
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 may be expended for the following 
eight eligible activity categories: (i) Compensation--Personal 
Services; (ii) Compensation--Fringe Benefits; (iii) Professional 
Service Costs; (iv) Travel Costs; (v) Training and Education Costs; 
(vi) Equipment; (vii) Supplies; and (viii) Incorporation Costs. The TA 
Budget is the amount of the award and must be expended in the eight 
eligible activity categories before the end of the Budget Period. None 
of the eligible activity categories will be authorized for Indirect 
Costs or an associated Indirect Cost Rate. Any expenses that are 
prohibited by the Uniform Requirements are unallowable and are 
generally found in Subpart E-Cost Principles. The Recipient must 
comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 
8301-8303 and 2 CFR 200.216 of the Uniform Requirements, with respect 
to any Direct Costs. For purposes of this NOFA, the eight eligible 
activity categories are defined below:

   Table 4--TA Eligible Activity Categories, Subject to the Applicable
                 Provisions of the Uniform Requirements
------------------------------------------------------------------------
 
------------------------------------------------------------------------
(i) Compensation--personal     TA paid to cover all remuneration, paid
 services.                      currently or accrued, for services of
                                Applicant's employees rendered during
                                the Period of Performance under the TA
                                grant in accordance with Sec.   200.430
                                of the Uniform Requirements.
                               Any work performed directly but unrelated
                                to the purposes of the TA grant may not
                                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      TA paid to cover allowances and services
 Benefits.                      provided by the Applicant to its
                                employees as Compensation in addition to
                                regular salaries and wages, in
                                accordance with Sec.   200.431 of the
                                Uniform Requirements. Such expenditures
                                are allowable as long as they are made
                                under formally established and
                                consistently applied organizational
                                policies of the Applicant.
(iii) Professional Service     TA used to pay for professional and
 Costs.                         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
                                Applicant, in accordance with Sec.
                                200.459 of the Uniform Requirements.
                                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. The
                                Applicant must comply, as applicable,
                                with 2 CFR 200.216 of the Uniform
                                Requirements, with respect to payment of
                                Professional Service Costs.
(iv) Travel Costs............  TA used to pay costs of transportation,
                                lodging, subsistence, and related items
                                incurred by the Applicant's personnel
                                who are on travel status on business
                                related to the TA award, in accordance
                                with Sec.   200.475 of the Uniform
                                Requirements. Travel Costs do not
                                include costs incurred by the
                                Applicant's consultants who are on
                                travel status. 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     TA used to pay the cost of training and
 Costs.                         education provided by the Applicant for
                                employees' development in accordance
                                with Sec.   200.473 of the Uniform
                                Requirements. TA can only be used to pay
                                for training costs incurred by the
                                Applicant's employees. Training and
                                Education Costs may not be incurred by
                                the Applicant's consultants.
(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, in accordance
                                with Sec.   200.1 of the Uniform
                                Requirements. For example, items such as
                                office furnishings and information
                                technology systems are allowable as
                                Equipment costs. The Applicant must
                                comply, as applicable, with the Buy
                                American Act of 1933, 41 U.S.C. 8301-
                                8303 and 2 CFR 200.216 of the Uniform
                                Requirements, 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, in accordance
                                with Sec.   200.1 of the Uniform
                                Requirements. For example, a desktop
                                computer costing $1,000 is allowable as
                                a Supply cost. The Applicant must
                                comply, as applicable, with the Buy
                                American Act of 1933, 41 U.S.C. 8301-
                                8303 and 2 CFR 200.216 of the Uniform
                                Requirements, with respect to the
                                purchase of Supplies.
(viii) Incorporation Costs     TA used to pay for incorporation fees in
 (Sponsoring Entities only).    connection with the establishment or
                                reorganization of an organization as a
                                CDFI, in accordance with Sec.   200.455
                                of the Uniform Requirements.
                                Incorporation Costs are allowable for
                                NACA Program Sponsoring Entity
                                Applicants only.
------------------------------------------------------------------------

    4. HFFI-FA Award: HFFI-FA award funds may only be expended for 
eligible FA activities referenced in Table 3. The HFFI-FA investments 
must comply with the following guidelines:

[[Page 10395]]

    a. Recipient must close Financial Products for Healthy Food Retail 
Outlets and Healthy Food Non-Retail Outlets in its approved Target 
Market in an amount equal to or greater than 100% 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 choices, 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 approved 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 2020-2025 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.dietaryguidelines.gov).
    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.
    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.
    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% 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 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 may only be expended for 
eligible FA activities referenced in Table 3. The PPC-FA Recipient must 
close Financial Products in PPC in an Eligible Market or in the 
Applicant's approved Target Market in an amount equal to or greater 
than 100% 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/CDFIPPCFeb19-2020.xls.

III. Eligibility Information

    A. Eligible Applicants: For the purposes of this NOFA, the 
following tables set forth the eligibility criteria 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).
---------------------------------------------------------------------------

    \9\ Depository Institution Holding Company or DIHC means a Bank 
Holding Company or a Savings and Loan Holding Company.

            Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Certified CDFI...............  An entity that the CDFI Fund has
                                officially notified that it meets all
                                CDFI certification requirements.
Emerging CDFI (TA Applicants)   A non-Certified entity that
                                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) must comply with CDFI
                                certification PG&M(s) stated in its
                                prior Assistance Agreement(s).
                               An 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 may
                                apply for an award (other than
                                Depository Institution Holding Companies
                                (DIHC) \9\--see below). Recipients may
                                not 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            Applicants must submit the
 submission overview through    Required Application Documents listed in
 Grants.gov and Awards          Table 10.
 Management Information
 System (AMIS).

[[Page 10396]]

 
                                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 undergo a two-step
                                process that requires the submission of
                                Application documents by two separate
                                deadlines in two different locations:
                                (1) The SF-424 in Grants.gov and (2) all
                                other Required Application Documents in
                                AMIS.
                                Grants.gov and the SF-424:
                                  [cir] Grants.gov: Applicants must
                                   submit the Standard Form (SF) 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 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 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
                                   submission deadline.
                                  [cir] The SF-424 must be submitted
                                   under the CDFI Program Funding
                                   Opportunity Number for the CDFI
                                   Program Application. CDFI Program
                                   Applicants should be careful to not
                                   select the NACA Program Funding
                                   Opportunity Number when submitting
                                   their SF-424 for the CDFI Program.
                                   CDFI Program Applicants that submit
                                   their SF-424 for the CDFI Program
                                   Application under the NACA Program
                                   Funding Opportunity Number will be
                                   deemed ineligible for the CDFI
                                   Program Application.
                                  [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 Documents listed in Table
                                10:
                                  [cir] AMIS is an enterprise-wide
                                   information technology system.
                                   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 an
                                   employee or officer of the Applicant,
                                   authorized to sign legal documents on
                                   behalf of the organization.
                                   Consultants working on behalf of the
                                   organization may not be designated as
                                   Authorized Representatives.
                                  [cir] Only the Authorized
                                   Representative or Application Point
                                   of Contact, included in the
                                   Application, may submit the
                                   Application in AMIS.
                                  [cir] All Required Application
                                   Documents must be submitted in AMIS
                                   on or before the deadline specified
                                   in Tables 1 and 12.
                                  [cir] The CDFI Fund will not extend
                                   the deadline for any Applicant except
                                   in the case of a Federal government
                                   administrative or technological error
                                   that directly resulted in the late
                                   submission of the Application in
                                   AMIS.
Employer Identification         Applicants must have a unique
 Number (EIN).                  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.
                                The EIN in the Applicant's AMIS
                                account must match the EIN in the
                                Applicant's System for Award Management
                                (SAM) account. The CDFI Fund reserves
                                the right to reject an Application if
                                the EIN in the Applicant's AMIS account
                                does not match the EIN in its SAM
                                account.
                                Applicants must enter their EIN
                                into their AMIS profile on or before the
                                deadline specified in Tables 1 and 12.
Dun & Bradstreet, (DUNS)        Pursuant to OMB guidance (68 FR
 number.                        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.
                                The DUNS number in the
                                Applicant's AMIS account must match the
                                DUNS number in the Applicant's
                                Grants.gov and SAM accounts. The CDFI
                                Fund will reject an Application if the
                                DUNS number in the Applicant's AMIS
                                account does not match the DUNS number
                                in its Grants.gov and SAM accounts.
                                Applicants must enter their DUNS
                                number into their AMIS profile on or
                                before the deadline specified in Tables
                                1 and 12.
System for Award Management     SAM is a web-based, government-
 (SAM).                         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 in order to submit an SF-424 in
                                Grants.gov.
                                The CDFI Fund reserves the right
                                to deem an Application ineligible if the
                                Applicant's SAM account expires during
                                the Application evaluation period, or is
                                set to expire before September 30, 2021,
                                and the Applicant does not re-activate,
                                or renew, as applicable, the account
                                within the deadlines that the CDFI Fund
                                communicates to affected Applicants
                                during the Application evaluation
                                period.
AMIS Account.................   Each Applicant must register as
                                an organization in AMIS and submit all
                                Required Application Documents listed in
                                Table 10 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 2021 CDFI Program
                                Funding Round Critical Deadlines for
                                Applicants--will be rejected without
                                further consideration.

[[Page 10397]]

 
                                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 and/or may 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 to
                                receive a CDFI or NACA Program award.
Compliance with                 An Applicant may not be eligible
 Nondiscrimination and Equal    to receive an award if proceedings have
 Opportunity Statutes,          been instituted against it in, by, or
 Regulations, and Executive     before any court, governmental agency,
 Orders.                        or administrative body, and a final
                                determination within the last three
                                years indicates the Applicant has
                                violated any of the following laws,
                                including 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          In the case where a CDFI
 Holding 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.
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)).
                                With the exception of Depository
                                Institution Holding Company Applicants,
                                awards may not 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,
                                unless done pursuant to a merger or
                                acquisition or similar transaction, and
                                with the CDFI Fund's prior written
                                consent. 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 and 2 CFR
                                200.216 of the Uniform Requirements,
                                with respect to any Direct Costs.
Requested award amount.......   An Applicant must state its
                                requested award amount in the
                                Application in AMIS. An Applicant that
                                does not include this amount will not be
                                allowed to submit an Application.
Pending resolution of           The CDFI Fund will consider an
 noncompliance.                 Application submitted by an Applicant
                                that has pending noncompliance issues on
                                any of its previously executed award
                                agreement(s), if the CDFI Fund has not
                                yet made a final compliance
                                determination.
Noncompliance or default        The CDFI Fund will not consider
 status.                        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 final determination that such entity
                                is noncompliant or found in default 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
                                loan from the CDFI Fund within five
                                years of the Application deadline.
Debarment/Do Not Pay            The CDFI Fund will conduct a
 Verification.                  debarment check and will not consider an
                                Application submitted by an Applicant
                                (or Affiliate of an Applicant) if the
                                Applicant is delinquent on any Federal
                                debt.
                                The Do Not Pay Business Center
                                was developed to support Federal
                                agencies in their efforts to reduce the
                                number of improper payments made through
                                programs funded by the Federal
                                government. The Do Not Pay Business
                                Center provides delinquency information
                                to the CDFI Fund to assist with the
                                debarment check.
------------------------------------------------------------------------


           Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status....  (1) Emerging CDFIs (see definition in
                                Table 5), or
                               (2) Certified CDFIs (see Table 5) that
                                meet the following SECA Applicant
                                criteria:
                                  (1) Have total assets as of the end of
                                   the Applicant's most recent historic
                                   fiscal year \10\ in accordance with
                                   the FA Application Guidance (as
                                   stated in the Applicant's AMIS
                                   account and verified by internally
                                   prepared financial statements and/or
                                   audits) in the following amounts:
                                     Insured Depository
                                     Institutions and Depository
                                     Institution Holding Companies: up
                                     to $250 million;
                                     Insured Credit Unions and
                                     State-Insured Credit Unions: Up to
                                     $100 million;
                                     Venture Capital Funds: **
                                     Up to $5 million;
                                     Other CDFIs: Up to $5
                                     million; OR
                                  (2) Have begun operations (as
                                   indicated by the financing activity
                                   start date field in the Applicant's
                                   AMIS account) on or after January 1,
                                   2017.
Matching Funds...............   Matching Funds documentation is
                                not required for TA awards.
Limitation on Awards.........   An Emerging CDFI may not receive
                                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.
                                With the exception of Sponsoring
                                Entities in the NACA Program, Applicants
                                may not propose to use a TA award to
                                create a separate legal entity to become
                                a Certified CDFI or otherwise carry out
                                the TA award activities.

[[Page 10398]]

 
Regulated Institution........   Each Regulated Institution TA
                                Applicant must have a CAMELS/CAMEL
                                rating (rating for banks and credit
                                unions, respectively) or equivalent type
                                of rating by its regulator (collectively
                                referred to as ``CAMELS/CAMEL rating'')
                                of at least ``4''.
                                TA Applicants with CAMELS/CAMEL
                                ratings of ``5'' will not be eligible
                                for awards.
                                The CDFI Fund will also evaluate
                                material concerns identified by the
                                Appropriate Federal Banking Agency in
                                determining the eligibility of Regulated
                                Institution Applicants.
------------------------------------------------------------------------
** A Venture Capital Fund is an organization that predominantly invests
  funds in businesses, typically in the form of either Equity
  Investments or subordinated debt with equity features such as a
  revenue participation or warrants, and generally seeks to participate
  in the upside returns of such businesses in an effort to at least
  partially offset the risk of its investments.

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

    \10\ For the purposes of this NOFA, an Applicant's most recent 
historic fiscal year end is determined as follows:
    (A) Applicants with a 3/31 fiscal year end date will treat FY 
2020 as their most recent historic fiscal year and FY 2021 as their 
current year.
    (B) Applicants with a 6/30 fiscal year end date will treat FY 
2020 as their most recent historic fiscal year and FY 2021 as their 
current year.
    (C) Applicants with a 9/30 fiscal year end date and a completed 
FY 2020 audit will treat FY 2020 as their most recent historic 
fiscal year and FY 2021 as their current year.
    (D) Applicants with a 9/30 fiscal year end date but without a 
completed FY 2020 audit will treat FY 2019 as their most recent 
historic fiscal year and FY 2020 as their current year.
    (E) Applicants with a 12/31 fiscal year end date, with or 
without a completed FY 2020 audit, will treat FY 2019 as their most 
recent historic fiscal year and FY 2020 as their current year.

           Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI certification status....   Each FA Applicant must be a
                                Certified CDFI prior to the date of the
                                release of this NOFA.
                                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.
                                If a Certified CDFI loses its
                                certification at any point prior to the
                                award announcement, the Application will
                                no longer be considered by the CDFI
                                Fund.
Matching Funds documentation.   Native American CDFIs are not
                                required to provide Matching Funds.
                                Applicants must submit
                                acceptable documentation attesting that
                                they have received or will receive
                                Matching Funds. Applicants that do not
                                complete the Matching Funds section in
                                the FA Application in AMIS, documenting
                                the source(s) of their Matching Funds,
                                will not be evaluated. See Table 9 for
                                additional information on Matching Funds
                                requirements for FY 2021 Funding Round.
                                The Matching Funds requirement for
                                Category I (SECA) FA Applicants and HFFI-
                                FA Applicants was waived in the final FY
                                2021 appropriations. Therefore HFFI-FA
                                and SECA FA applicants are not required
                                to submit Matching Funds for their award
                                requests. Unless Congress waived the
                                Matching Funds requirement, Applicants
                                must document their Matching Funds in
                                the Matching Funds section in the FA
                                Application in AMIS. Matching Funds
                                information provided in another format
                                will not be considered.
                                Unless Congress waived the
                                Matching Funds requirement, 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. See Table 9 for the
                                definitions of Committed and In-Hand.
                                Unless Congress waived the
                                Matching Funds requirement, 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.
                                Unless Congress waived the
                                Matching Funds requirement, 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% of their Matching
                                Funds are In-Hand.
                                Unless Congress waived the
                                Matching Funds requirement, 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.
Consideration as a Native       The Indian Community Economic
 American CDFI.                 Enhancement Act of 2020 (Pub. L. 116-
                                261) permanently waived the Matching
                                Funds requirements for Native American
                                CDFIs. For consideration as a Native
                                American CDFI under this NOFA, an FA
                                Applicant must Primarily Serve a Native
                                Community. Primarily Serves is defined
                                as 50% or more of an Applicant's
                                activities being directed to a Native
                                Community.
                                For purposes of this NOFA, a
                                Native Community is defined as Native
                                American, Alaska Native, or Native
                                Hawaiian populations or Native American
                                areas defined as Federally-designated
                                reservations, Hawaiian homelands, Alaska
                                Native Villages and U.S. Census Bureau-
                                designated Tribal Statistical Areas.
                                Applicants that do not meet the
                                above conditions will not be considered
                                as a Native American CDFI under this
                                NOFA.
                                Native American CDFI FA
                                Applicants are not required to provide
                                Matching Funds. Therefore, if the CDFI
                                Fund determines that a Category II
                                (Core) FA Applicant that attests in its
                                Application to meeting the above
                                conditions does not meet the criteria to
                                be considered a Native American CDFI,
                                the Application will be deemed
                                ineligible for failure to provide
                                Matching Funds.
$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 from the
                                Announcement Date.
                                For TA Applicants, for purposes
                                of this NOFA and per final FY 2021
                                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
                                2019, and 2020 funding rounds, as well
                                as the requested FY 2021 award,
                                excluding DF-FA and HFFI-FA awards.

[[Page 10399]]

 
                                For FA Applicants, for purposes
                                of this NOFA and per final FY 2021
                                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
                                2019 and 2020 funding rounds, as well as
                                the requested FY 2021 award, excluding
                                DF-FA and HFFI-FA awards.
FA Category I (SECA).........   To be an eligible SECA
                                Applicant, an Applicant must meet the
                                following criteria:
                                  (1) Be a Certified CDFI;
                                  (2) Request $700,000 or less in Base-
                                   FA funds; AND EITHER
                                  (3) Have total assets as of the end of
                                   the Applicant's most recent historic
                                   fiscal year in accordance with the FA
                                   Application Guidance (as stated in
                                   the Applicant's AMIS account and
                                   verified by internally prepared
                                   financial statements and/or audits)
                                   in the following amounts:
                                     Insured Depository
                                     Institutions and Depository
                                     Institution Holding Companies: Up
                                     to $250 million;
                                     Insured Credit Unions and
                                     State-Insured Credit Unions: Up to
                                     $100 million;
                                     Venture Capital Funds: Up
                                     to $5 million;
                                     Other CDFIs: Up to $5
                                     million; OR
                                     Have begun operations (as
                                     indicated by the financing activity
                                     start date field in the Applicant's
                                     AMIS account) on or after January
                                     1, 2017.
FA Category II (Core)........   A Core Applicant must be a
                                Certified CDFI as defined in Table 5.
                                An Applicant that meets the SECA
                                requirements stated above, and that
                                requests more than $700,000 in Base-FA
                                award funds is categorized as an FA
                                Category II (Core) Applicant, regardless
                                of its total assets and/or years in
                                operation.
                                Such Applicants who meet SECA
                                requirements but wish to apply as a Core
                                FA Applicant, by requesting more than
                                $700,000, must submit a Service Request
                                in AMIS to request that a Core-FA
                                Application be created by the dates
                                specified in Tables 1 and 12. The CDFI
                                Fund will not change an Application back
                                to a SECA FA Application after a request
                                to create a Core FA Application has been
                                submitted to the CDFI Fund.
FA Applicants with Community    A CDFI Applicant can apply for
 Partners.                      assistance jointly with a Community
                                Partner. The CDFI Applicant must
                                complete the CDFI Program Application
                                and address the Community Partnership in
                                its business plan and other sections of
                                the Application as specified in the
                                Application materials.
                                The CDFI Applicant must be a
                                Certified 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 the partnership and
                                   how the partnership will enhance
                                   eligible activities serving the
                                   Investment Area and/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.
Regulated Institution........   Each Regulated Institution FA
                                Applicant must have a CAMELS/CAMEL
                                rating (rating for banks and credit
                                unions, respectively) or equivalent type
                                of rating by its regulator (collectively
                                referred to as ``CAMELS/CAMEL rating'')
                                of at least ``3''.
                                FA Applicants with CAMELS/CAMEL
                                ratings of ``4 or 5'' will not be
                                eligible for awards.
                                The CDFI Fund will also evaluate
                                material concerns identified by the
                                Appropriate Federal Banking Agency in
                                determining the eligibility of Regulated
                                Institution Applicants.
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.
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 a Base-FA, PPC-
FA, or DF-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 as part of the 
Application, unless Congress waived the Matching Funds requirement. The 
Matching Funds requirement was waived for the FY 2021 Funding Round for 
SECA FA and HFFI-FA Applicants and permanently waived for Native 
American CDFIs.
    Therefore, HFFI-FA, SECA FA, and Native American CDFI Applicants 
are not required to submit Matching Funds for their award requests. 
Matching Funds are not required for Native American CDFIs. An Applicant 
that represents that it has Equity Investments and/or deposits Matching 
Funds In-Hand at the time of Application submission must provide 
documentation of such as part of the Application. An Applicant that 
uses retained earnings as Matching Funds must provide supporting 
documentation of In-Hand and/or Committed Matching Funds at the time of 
Application submission. The CDFI Fund will review Matching Funds 
information, attestations, and supporting Matching

[[Page 10400]]

Funds documentation, if applicable, prior to award payment and will 
disburse funds based upon eligible In-Hand Matching Funds. The CDFI 
Fund encourages Applicants to review the Regulations, 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 for Category II (Core) FA Applicants, with the 
exception of Native American CDFIs, applying for Base-FA, PPC-FA, and 
DF-FA. The Matching Funds requirement for HFFI-FA, and SECA FA 
Applicants is waived for the FY 2021 Funding Round. The Matching Funds 
requirement for Native American CDFIs is permanently waived. Additional 
details are set forth in the Application materials.

                 Table 9--Matching Funds Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
In-Hand Matching Funds          Matching Funds are In-Hand when
 definition.                    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 the 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.
                                Unless Congress waived the
                                Matching Funds requirement, Applicants
                                must provide information on their In-
                                Hand Matching Funds in the Matching
                                Funds section of the FA Application in
                                AMIS (refer to Table 10--Required
                                Application Documents) at the time of
                                Application submission.
                                Although Applicants are not
                                required to provide further
                                documentation for In-Hand Matching Funds
                                at the time of Application submission
                                (other than supporting documentation for
                                retained earnings, deposits, and Equity
                                Investments, which must be provided at
                                the time of Application submission),
                                they must be able to provide
                                documentation to the CDFI Fund upon
                                request.
Matching Funds requirements    The following Applicants must provide
 by Application type.           evidence of acceptable Matching Funds:
                                Category II/Core FA Applicants,
                                with the exception of Native American
                                CDFIs, applying for Base-FA, PPC-FA, and
                                DF-FA.
                               TA Applicants and Native American CDFI FA
                                Applicants are not required to provide
                                Matching Funds.
                               The Matching Funds requirement for HFFI-
                                FA and SECA FA Applicants was waived in
                                the final FY 2021 appropriations.
                                Therefore, HFFI-FA and SECA FA
                                Applicants are not required to provide
                                Matching Funds.
Amount of required match.....  Unless waived by Congress, Applicants
                                must provide evidence of eligible, In-
                                Hand, dollar-for-dollar, non-Federal
                                Matching Funds for every award dollar to
                                be paid by the CDFI Fund. If awarded,
                                Applicants that do not demonstrate 100%
                                In-Hand Matching Funds at the time of
                                Application submission may experience a
                                longer payment timeline.
Determination of award form..  Unless the Matching Funds requirement is
                                waived by Congress, awards will be made
                                in comparable form and value to the
                                eligible In-Hand and/or Committed
                                Matching Funds submitted by the
                                Applicant. For awards where Congress has
                                waived the Matching Funds requirement,
                                the form of the award will be a grant.
                                For example, if an 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.
                                The CDFI Fund will not permit a
                                Recipient to change the form of a loan
                                award.
                               For awards where Congress waives the
                                Matching Funds requirement, the form of
                                the award will be a grant.
Matching Funds Window           The Applicant must receive
 definition.                    eligible In-Hand Matching Funds between
                                January 1, 2019 and January 15, 2022.
                                A Recipient must provide the
                                CDFI Fund with all documentation
                                demonstrating the receipt of In-Hand
                                Matching Funds by January 31, 2022.
Matching Funds and form of      Recipients will be approved for
 award.                         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 requested award amount.
                                The form of the Matching Funds
                                documented in the Application determines
                                the form of the award.
Committed Matching Funds        Matching Funds are Committed
 definition.                    when the Applicant has entered into or
                                received a legally binding commitment
                                from the Matching Funds source showing
                                that the Matching Funds will be
                                disbursed to the Applicant at a future
                                date.
                                The Applicant must provide
                                information on their Committed Matching
                                Funds in the Matching Funds section of
                                the FA Application in AMIS (refer to
                                Table 10--Required Application
                                Documents) at the time of Application
                                submission.

[[Page 10401]]

 
                                Although the Applicant is not
                                required to provide further
                                documentation for Committed Matching
                                Funds at the time of Application
                                submission (other than supporting
                                documentation for retained earnings,
                                deposits, and Equity Investments, which
                                must be provided at the time of
                                Application submission), it 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.
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 award that
                                required Matching Funds under the CDFI
                                Program, NACA Program, or under another
                                Federal grant or award program.
                                Matching Funds must comply with
                                the Regulations.
                                Matching Funds must be
                                attributable to at least one of the five
                                eligible FA activities (see Section II
                                (C) of this NOFA).
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.
                                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 award
                                requiring Matching Funds and re-allocate
                                the rescinded award amount to other
                                qualified Applicant(s) if a Recipient
                                fails to provide evidence of In-Hand
                                Matching Funds obtained during the
                                Matching Funds Window totaling its award
                                amount.
Matching Funds in the form of   Third party in-kind
 third-party in-kind            contributions are non-cash contributions
 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. The value of goods
                                and services must directly benefit the
                                eligible FA 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 pursuant to the Uniform
                                Requirements.
Matching Funds in the form of   An award made in the form of a
 a loan.                        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 0.66%,
                                   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.
Matching Funds in the form of   An Equity Investment source must
 Equity Investments.            meet the terms outlined in 12 CFR
                                1805.401(a): Equity: The CDFI Fund may
                                make non-voting equity investments in a
                                Recipient, including, without
                                limitation, the purchase of non-voting
                                stock. Such stock shall be transferable
                                and, in the discretion of the CDFI Fund,
                                may provide for convertibility to voting
                                stock upon transfer. The CDFI Fund shall
                                not own more than 50 percent of the
                                equity of a Recipient and shall not
                                control its operations.
                                The CDFI Fund's ownership of
                                equity is calculated by dividing the
                                shares owned by the CDFI Fund by the
                                total number of shares issued by the
                                Recipient.
                                The CDFI Fund reserves the
                                right, in its sole discretion, to
                                perform its own valuation of Equity
                                Investment source(s) and to determine if
                                the equity value is acceptable to the
                                CDFI Fund.
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
                                provide a Severe Constraints Waiver,
                                which permits such Applicant to comply
                                with the Matching Funds requirements by
                                reducing such requirements by up to 50%.
                                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% of the total
                                funds available for obligation under
                                this funding round may qualify for a
                                Severe Constraints Waiver.
Ineligible Matching Funds....   Applicants will not be given the
                                opportunity to correct or amend the
                                Matching Funds information included in
                                the FA Application after Application
                                submission if the CDFI Fund determines
                                that any portion of the Applicant's
                                Matching Funds is ineligible.
Use of Matching Funds from a   If an Applicant offers Matching Funds
 prior CDFI Program Recipient.  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.

[[Page 10402]]

 
Matching Funds in the form of   Retained earnings are eligible
 retained earnings.             for use as Matching Funds in an amount
                                equal to the CDFI Fund's calculation of:
                               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 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
                                award will support its Subsidiary CDFI
                                Insured Depository Institution.
Special rule for Regulated      A Regulated Institution's
 Institutions.                  retained earnings are eligible for use
                                as Matching Funds in an amount equal to
                                the CDFI Fund's calculation of:
                               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 or State-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 (1) will be
                                measured on a quarterly basis from March
                                31, 2021; (2) must occur by December 31,
                                2022; and (3) will be based on amounts
                                reported in the Applicant's National
                                Credit Union Administration (NCUA) form
                                5300 Call Report, or equivalent.
                                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
                                or equivalent that it has increased
                                shares and/or total loans outstanding by
                                at least 25% of the requested FA award
                                amount (including all awards requiring
                                Matching Funds) between December 31,
                                2019, and December 31, 2020.
                                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 that are being used as
                                Matching Funds.
                                If option (iii) is used for
                                Insured Depository Institutions or
                                Depository Institution Holding
                                Companies, the Applicant or its
                                Subsidiary CDFI 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 Subsidiary CDFI
                                Insured Depository Institution that the
                                requested the FA award will support.
                                This increase (1) will be
                                measured on a quarterly basis from March
                                31, 2021; (2) must occur by December 31,
                                2022; and (3) will be based on amounts
                                reported in the 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% of the
                                requested FA award amount (including all
                                awards requiring Matching Funds) between
                                December 31, 2019, and December 31,
                                2020.
                                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 that are being
                                used as Matching Funds.
                                All regulated Applicants
                                utilizing the option (iii) should refer
                                to the Retained Earnings Guidance
                                included in the Retained Earnings
                                Calculator Excel Workbook found on the
                                CDFI Fund's website.
------------------------------------------------------------------------
* The requirements set forth in Table 9 are applicable to Category II
  (Core) FA Applicants, with the exception of Native American CDFIs,
  applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds
  requirements for HFFI-FA and SECA FA Applicants were waived for the FY
  2021 Funding Round and permanently waived for Native American CDFIs.
  Therefore, the requirements set forth in Table 9 are not applicable to
  HFFI-FA, SECA FA, and Native American CDFI Applicants for the FY 2021
  Funding Round.

IV. 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]. Paper 
versions of Application materials will only be provided if an Applicant 
cannot access the CDFI Fund's website.
    B. Content and Form of Application Submission: All Applications 
must be prepared using the English language, and calculations must be 
computed in U.S. dollars. The following table lists the Required 
Application Documents for the FY 2021 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 
the Application. Information submitted by the Applicant that the CDFI 
Fund has not specifically requested will not be

[[Page 10403]]

reviewed or considered as part of the Application. Financial data, 
portfolio, and activity information provided in the Application should 
only include the Applicant's activities. Information submitted must 
accurately reflect 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 Components:...............  All Applicants.................  AMIS.
 Funding Application Detail................
 Data, Charts, and Narrative sections as
 listed in AMIS and outlined in Application
 materials.
 Matching Funds (FA Core Applicants, with
 the exception of Native American CDFIs).
PPC-FA Application Components:.....................  PPC-FA Applicants..............  AMIS.
 Funding Application Detail................
 Narratives................................
 AMIS Charts...............................
DF-FA Application Components:......................  DF-FA Applicants...............  AMIS.
 Funding Application Detail................
 Narratives................................
 AMIS Charts...............................
HFFI-FA Application Components:....................  HFFI-FA Applicants.............  AMIS.
 Funding Application Detail................
 Narratives................................
 AMIS charts...............................
----------------------------------------------------------------------------------------------------------------
           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 the Applicant's     FA Applicants: Loan funds,       PDF in AMIS.
 Three Most Recent Historic Fiscal Years.             Venture Capital Funds, and
                                                      other non-Regulated
                                                      Institutions.
                                                     TA Applicants, if available:
                                                      Loan funds, Venture Capital
                                                      Funds, and other non-Regulated
                                                      Institutions.
Management Letter for the Applicant's Most Recent    FA Applicants: Loan funds,       PDF in AMIS.
 Historic Fiscal Year..                               Venture Capital Funds, and
The Management Letter is prepared by the              other non-Regulated
 Applicant's auditor and is a communication on        Institutions.
 internal control over financial reporting,          TA Applicants, if audited
 compliance, and other matters. The Management        financial statements are
 Letter contains the auditor's findings regarding     available: Loan funds, Venture
 the Applicant's accounting policies and              Capital Funds, and other non-
 procedures, internal controls, and operating         Regulated Institutions.
 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        FA Applicants: Loan funds,       AMIS.
 Applicant's Most Recent Historic Fiscal Year         Venture Capital Funds, and
 issued by the Board Treasurer or other Board         other non-Regulated
 member using the template provided in the            Institutions.
 Application materials.                              TA Applicants, if audited
(required only if Management Letters are not          financial statements ARE
 available for audited financial statements).         available but the Management
                                                      Letters are NOT available:
                                                      Loan funds, Venture Capital
                                                      Funds, and other non-Regulated
                                                      Institutions.
Unaudited financial statements for Applicant's       TA Applicants: Loan funds,       PDF in AMIS.
 Three Most Recent Historic Years.                    Venture Capital Funds, and
(required only if audited financial statements are    other non-Regulated
 not available).                                      Institutions.
Current Year to Date--December 31, 2020 Unaudited    FA and TA Applicants: Loan       PDF in AMIS.
 financial statements.                                funds, Venture Capital Funds,
                                                      and other non-Regulated
                                                      Institutions.
Community Partnership Agreement....................  FA Applicants, if applicable...  PDF or Word document in
                                                                                       AMIS.
Retained Earnings Calculator Excel Workbook........  FA Core Applicants, if           Excel in AMIS.
(required only if using retained earnings as          applicable.
 Matching Funds).

[[Page 10404]]

 
Call reports for each fiscal year reported in the    FA Core Applicants: Regulated    PDF in AMIS.
 Retained Earnings Calculator.                        Institutions that are using
                                                      retained earnings as Matching
                                                      Funds.
Equity Investment Matching Funds Documentation.....  FA Core Applicants: For-profit   PDF or Word document in
                                                      CDFIs that are using In-Hand     AMIS.
                                                      Equity Investment(s) as
                                                      Matching Funds.
Deposits Matching Funds Documentation..............  FA Core Applicants: Regulated    PDF or Word document in
                                                      Institutions that are using In-  AMIS.
                                                      Hand Deposits as Matching
                                                      Funds.
----------------------------------------------------------------------------------------------------------------

    C. Application Submission: The CDFI Fund has a two-step process 
that requires the submission of Required Application Documents (listed 
in Table 10) on separate deadlines and locations. The SF-424 must be 
submitted through Grants.gov and all other Required 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 in writing by the CDFI Fund. The deadline for submitting 
the SF-424 is listed in Tables 1 and 12.
    All Applicants must register in the Grants.gov system to 
successfully submit the SF-424. The Grants.gov registration process can 
take 45 days or longer to complete and the CDFI Fund strongly 
encourages Applicants to start the Grants.gov registration process as 
early 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. Further, as described in Section IV. 
(E) of this NOFA, new requirements for registration in the System for 
Awards Management (SAM), which is required as part of the Grants.gov 
registration process, may take more time than in recent years. The CDFI 
Fund will not extend the Application deadline for 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 an employee or officer and 
is authorized to sign legal documents on behalf of the Applicant. 
Consultants working on behalf of the Applicant may not 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: 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 may take one month or longer to 
complete. A signed notarized letter identifying the SAM authorized 
entity administrator for the entity associated with the DUNS number is 
required. This requirement is applicable to new entities registering in 
SAM, as well as to existing entities with registrations being updated 
or renewed in SAM. 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 
deem ineligible 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
              Step                      Agency         time to complete
------------------------------------------------------------------------
Obtain a DUNS number............  Dun & Bradstreet..  One (1) Week.*
Obtain an EIN Number............  Internal Revenue    Two (2) Weeks.*
                                   Service (IRS).
Register in SAM.gov.............  System for Award    Four (4) Weeks.*
                                   Management
                                   (SAM.gov).

[[Page 10405]]

 
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 deem ineligible 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 2021 Funding Round.

                 Table 12--FY 2021 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
          Description                      Deadline             Time (eastern time--ET)      Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards     March 22, 2021.............  11:59 p.m.................  AMIS.
 Management Information Systems
 (AMIS) Account (all
 Applicants).
Last day to enter EIN and DUNS   March 22, 2021.............  11:59 p.m.................  AMIS.
 numbers in AMIS (all
 Applicants).
Last day to submit SF-424        March 22, 2021.............  11:59 p.m.................  Electronically via
 (Application for Federal                                                                  Grants.gov.
 Assistance).
Last day for SECA FA Applicants  March 22, 2021.............  11:59 p.m.................  Service Request via
 to request creation of a Core-                                                            AMIS.
 FA Application (if requesting
 more than $700,000).
Last day to contact CDFI         April 29, 2021.............  5:00 p.m..................  Service Request via
 Program staff.                                                                            AMIS; Or CDFI Fund
                                                                                           Helpdesk: 202-653-
                                                                                           0421.
Last day to contact AMIS-IT      May 3, 2021................  5:00 p.m..................  Service Request via
 Help Desk (regarding AMIS                                                                 AMIS; Or 202-653-
 technical problems only).                                                                 0422; Or
                                                                                           [email protected].
Last day to submit CDFI Program  May 3, 2021................  11:59 p.m.................  AMIS.
 Application for Financial
 Assistance (FA) or Technical
 Assistance (TA).
----------------------------------------------------------------------------------------------------------------

    2. Confirmation of Application Submission in Grants.gov and AMIS: 
Applicants are required to submit the SF-424, Application for Federal 
Assistance through the Grants.gov system, under the CDFI Program 
Funding Opportunity Number by the applicable deadline. All other 
Required Application Documents (listed in Table 10) must be submitted 
through the AMIS website by the applicable deadline. Applicants must 
submit the SF-424 prior to submitting the Application in AMIS. If the 
SF-424 is not successfully accepted by Grants.gov by the deadline, the 
CDFI Fund will not review the Application 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 Applicants to allow for 
sufficient time to review and complete all Required Application 
Documents listed in Table 10, 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 the Authorized Representative is an employee or officer and 
is authorized to sign legal documents on behalf of the Applicant. 
Consultants working on behalf of the Applicant may not be designated as 
Authorized Representatives. Only an Authorized Representative or an 
Application Point of Contact may submit an Application. If an 
Authorized Representative or Application Point of Contact does not 
submit the Application, the Application will be deemed ineligible. 
Applicants may only submit one Base-FA or TA Application under the CDFI 
Program. 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 SF-424 
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 Application deadline. In either case, the CDFI Fund

[[Page 10406]]

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 will not consider the 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 the late 
submission of the SF-424, the Applicant must submit a written request 
for acceptance of the 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 requests 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 the 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 
requests 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: Base-FA, PPC-FA, DF-FA, HFFI-FA and TA 
awards are limited by the following:
    1. Base-FA Awards:
    a. A Recipient shall use Base-FA funds only for the eligible 
activities described in Section II. (C)(1) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, Base-FA awards may not 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, 
unless done pursuant to a merger or acquisition or similar transaction, 
and with the CDFI Fund's prior written consent.
    c. Base-FA funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay Base-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 and 2 CFR 200.216 of the Uniform 
Requirements, 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. With the exception of Depository Institution Holding Company 
Applicants, PPC-FA awards may not 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, unless 
done pursuant to a merger or acquisition or similar transaction, and 
with the CDFI Fund's prior written consent.
    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 and 2 CFR 200.216 of the Uniform 
Requirements, 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. With the exception of Depository Institution Holding Company 
Applicants, DF-FA awards may not 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, unless 
done pursuant to a merger or acquisition or similar transaction, and 
with the CDFI Fund's prior written consent.
    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 and 2 CFR 200.216 of the Uniform 
Requirements, 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. With the exception of Depository Institution Holding Company 
Applicants, HFFI-FA awards may not 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, 
unless done pursuant to a merger or acquisition or similar transaction, 
and with the CDFI Fund's prior written consent.
    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 and 2 CFR 200.216 of the Uniform 
Requirements, 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. With the exception of Depository Institution Holding Company 
Applicants, TA awards may not 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, unless done 
pursuant to a merger or acquisition or similar transaction, and with 
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 and 2 CFR 200.216 of the Uniform 
Requirements, 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

[[Page 10407]]

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 Base-FA, DF-FA, PPC-FA, HFFI-
FA, and TA Applications in accordance with the process below. All 
internal and external reviewers will 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.
    1. Base-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 the 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 pursuant to Section III 
of this NOFA.
    b. Step 2: Financial Analysis and Compliance Risk Evaluation:
    i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI 
Fund will consider financial safety and soundness information from the 
Appropriate Federal or State Banking Agency. As detailed in Table 8, 
each Regulated Institution FA Applicant must have a CAMELS/CAMEL rating 
of at least ``3'' and/or no significant materials concerns from its 
regulator.
    For non-regulated Applicants, the CDFI Fund will evaluate the 
financial health and viability of each non-regulated Applicant using 
financial information provided by the Applicant. For the Financial 
Analysis, each non-regulated Applicant 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-three (23) 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.
    ii. Step 2: Compliance Risk Evaluation: For the compliance 
analysis, the CDFI Fund will evaluate the compliance risk of each 
Applicant using information provided in the Application as well as an 
Applicant's reporting history, reporting capacity, and performance risk 
with respect to the CDFI Fund's PG&Ms. Each Applicant will receive a 
Total Compliance Composite Score on a scale of one (1) to five (5), 
with one (1) being the highest rating. Applicants that receive an 
initial Total Compliance Composite Score of four (4) or five (5) will 
be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high 
compliance risk after CDFI Fund 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 their 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. 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% of the Core Applicant pool for Core Applicants or within the 
top 70% of the SECA 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. Lastly, the CDFI Fund may consider 
the geographic diversity of Applicants when determining the Step 4 
Applicant pool.

     Table 13--Step 3: Base-FA Business Plan Review Scoring Criteria
------------------------------------------------------------------------
  Base-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.
                                ----------------------------------------
    Total Business Plan Score..              50  Core Applicants: Top
                                                  60% of all Core
                                                  Applicant Step 3
                                                  Scores.
                                                 SECA Applicants: Top
                                                  70% 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. Each Applicant will be 
evaluated in each of the categories listed in Table 14 below, and will 
receive 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.
    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); ability to meet FA 
Objective(s) selected by Base-FA Applicants in their Applications; 
reports and findings from audits; and the Applicant's ability to 
effectively implement Federal requirements, each of which could impact 
the Total Policy Objective Review Score.

[[Page 10408]]



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

    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 
other factors, including but not limited to, the 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. For Core FA Applicants, the award cannot exceed 30% of 
the Applicant's total portfolio outstanding as of the Applicant's most 
recent historic fiscal year end. For SECA FA Applicants, the award 
cannot exceed 75% of the Applicant's total portfolio outstanding as of 
the Applicant's most recent historic fiscal year end, or the minimum 
award size as noted in Table 2, whichever is greater.
    2. Healthy Food Financing Initiative-FA (HFFI-FA) Application 
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund 
internal reviewer will evaluate each HFFI-FA Application associated 
with a Base-FA Application that progresses to Step 4 of the FA 
Application review process. The reviewer will evaluate the Application 
sections listed in Table 15 and assign a Total HFFI- FA Score up to 60 
points. The CDFI Fund will make awards to the highest scoring 
Applicants first. All Applications will be reviewed in accordance with 
standard reviewer evaluation materials. Applicants that fail to receive 
a Base-FA award will not be considered for a HFFI-FA award.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration for an HFFI-FA award. 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 but not limited to, an 
Applicant's loan disbursement activity, total portfolio outstanding, or 
compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may 
consider the geographic diversity of Applicants when making its funding 
decisions.

          Table 15--Step 4 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
                  Sections                          Possible score
------------------------------------------------------------------------
Target Market Profile......................  10 points.
Healthy Food Financial Products............  10 points.
Projected HFFI-FA Activities...............  15 points.
HFFI Track Record..........................  20 points.
Management Capacity for Providing Healthy    5 points.
 Food Financing.
                                            ----------------------------
    Total HFFI-FA Possible Score...........  60 points.
------------------------------------------------------------------------

    3. Persistent Poverty Counties--Financial Assistance (PPC-FA) 
Application Scoring, Award Selection, Review, and Selection Process: A 
CDFI Fund internal reviewer will evaluate the PPC-FA request of each 
associated Base-FA Application that progresses to Step 4 of the FA 
Application review process. PPC-FA requests are not scored. 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 factors, including but not limited to, an Applicant's 
overall portfolio size, historical track record of deployment in PPC, 
pipeline of projects in PPC, minimum award size, and funding 
availability. Applicants that fail to receive a Base-FA award will not 
be considered for a PPC-FA award.
    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 Base-FA Application that 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 three (3), 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 
a Base-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 factors, 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. The CDFI Fund will 
make awards to the highest scoring Applicants first.

           Table 16--Step 3 DF-FA Application Scoring Criteria
------------------------------------------------------------------------
                                             Possible
                 Section                      scores        High score
------------------------------------------------------------------------
DF-FA Narrative Questions...............      1, 2, or 3               1
                                         -------------------------------
    Total DF-FA Score...................      1, 2, or 3               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 of 
this NOFA. If the Application satisfies the eligibility criteria, the 
CDFI Fund will evaluate the TA Application. Emerging CDFI Applicants 
must receive a rating of Low Risk or Medium Risk in Section I of the TA 
Business Plan Review to progress to

[[Page 10409]]

Section II of the TA Business Plan Review. Emerging CDFI Applicants 
that receive a rating of High Risk in Section I of the TA Business Plan 
Review will not be considered for an award. Section I of the TA 
Business Plan Review is not applicable for Certified CDFI Applicants. 
Emerging CDFI and Certified CDFI Applicants must receive a rating of 
Low Risk or Medium Risk in Section II of the TA Business Plan Review to 
be considered for an award. Applicants that receive a rating of High 
Risk in Section II of the TA Business Plan Review will not be 
considered for an award. 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 will be evaluated on the Applicant's demonstrated capability and 
plan to achieve CDFI certification within three years, or if a prior 
Recipient, the certification PG&M stated in its prior Assistance 
Agreement. An Applicant that is an Emerging 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 rate each part of 
the TA Business Plan Review as indicated in Table 17.

                    Table 17--TA Business Plan Review
------------------------------------------------------------------------
    Business plan review
          component              Applicant type            Ratings
------------------------------------------------------------------------
Section I:
    Primary Mission.........  Emerging CDFI         Low Risk, Medium
                               Applicants.           Risk, or High Risk.
    Financing Entity........  Emerging CDFI
                               Applicants.
    Target Market...........  Emerging CDFI
                               Applicants.
    Accountability..........  Emerging CDFI
                               Applicants.
    Development Services....  Emerging CDFI
                               Applicants.
Section II:
    Target Market Needs &     Emerging and          Low Risk, Medium
     Strategy.                 Certified CDFI        Risk, or High Risk.
                               Applicants.
    Organizational Capacity.  Emerging and
                               Certified CDFI
                               Applicants.
    Management Capacity.....  Emerging and
                               Certified CDFI
                               Applicants.
------------------------------------------------------------------------

    Each TA Application will be evaluated by one internal CDFI Fund 
reviewer. All Applications will be reviewed in accordance with CDFI 
Fund standard reviewer evaluation materials for the Business Plan 
Review.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration 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 compliance risk of each Applicant 
using information provided in the Application as well as an Applicant's 
reporting history, reporting capacity, and performance risk with 
respect to the CDFI Fund's PG&Ms. Each Applicant will receive a Total 
Compliance Composite Score on a scale of one (1) to five (5), with one 
(1) being the highest rating. Applicants that receive an initial Total 
Compliance Composite Score of four (4) or five (5) will be re-evaluated 
by CDFI Fund staff. If the Applicant is deemed a high compliance risk 
after CDFI staff review, the Applicant will not be considered for an 
award. 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 the due diligence 
analysis in addition to consideration of the Applicant's funding 
request and similar factors. Lastly, the CDFI Fund may consider the 
geographic diversity of Applicants when making its funding decisions.
    6. Regulated 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 Certified CDFI 
Subsidiary Insured Depository Institution that will expend and carry 
out the award. If the Appropriate Federal or State Banking Agency 
identifies safety and soundness concerns, the CDFI Fund will assess 
whether such concerns cause or will cause the Applicant to be incapable 
of undertaking the activities for which funding has been requested.
    7. Non-Regulated Institutions: 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 that 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 announcement before September 30, 2021. However, the 
anticipated award Announcement Date is subject to change without 
notice.
    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

[[Page 10410]]

final, and there is no right to appeal 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 be limited to the: 
(i) Award amount; (ii) award type; (iii) award uses; (iv) eligible use 
of funds; (v) PG&Ms; and (vi) reporting requirements. FA Assistance 
Agreements have three-year Periods of Performance. TA Assistance 
Agreements have two-year Period of Performance for Certified CDFIs and 
three-year Periods of Performance for Emerging CDFIs.
    1. Certificate of Good Standing: All FA and TA Recipients that are 
not Regulated 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% of 
their Matching Funds are In-Hand. The first payment is the estimated 
amount of the 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 announcement. The CDFI Fund reserves the right to 
increase the first payment amount on any award to ensure that any 
subsequent payments are at least $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(s) in 
accordance with the Uniform Requirements. 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 Assistance 
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 in the Uniform 
Requirements; indicates that the Recipient is not in compliance with a 
term or condition of a prior CDFI Fund award; indicates the Recipient 
has failed to execute and return a prior round Assistance Agreement to 
the CDFI Fund within the CDFI Fund's deadlines; 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 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 prior
 requirements.                  award under any CDFI Fund program and is
                                not in compliance 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 such reporting
                                requirements are met. If the Recipient
                                is unable to meet the requirement(s)
                                within the timeframe specified by the
                                CDFI Fund, 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 are not a determination of
                                meeting reporting requirements.
Failure to maintain CDFI        An FA Recipient must be a
 certification.                 Certified CDFI.
                                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.
                                If a TA Recipient is a Certified
                                CDFI at the time of award announcement,
                                it must maintain CDFI certification.
                                If a Certified CDFI TA Recipient
                                fails to maintain CDFI certification,
                                the CDFI Fund may terminate and rescind
                                the Assistance Agreement and the award
                                made under this NOFA.

[[Page 10411]]

 
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 or default        If, at any time prior to
 status.                        entering into an Assistance Agreement,
                                the CDFI Fund determines that a
                                Recipient is noncompliant or found in
                                default with any previously executed
                                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 noncompliance by taking
                                actions the CDFI Fund has specified
                                within such specified timeframe. If the
                                Recipient is unable to cure the
                                noncompliance 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 an
 rights requirements.           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.
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 (or
                                Affiliate of a Recipient) is determined
                                to be ineligible based on data 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 its
                                safety and soundness prior to entering
                                into an Assistance Agreement.
------------------------------------------------------------------------

C. Reporting

    1. Reporting requirements: On an annual basis during 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 (Annual Reporting Requirements):

                Table 19--Annual Reporting Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Financial Statement Audit      A Non-profit Recipient (including Insured
 Report (Non-profit Recipient   Credit Unions and State-Insured Credit
 including Insured Credit       Unions) must submit a Financial
 Unions and State-Insured       Statement Audit (FSA) Report in AMIS,
 Credit Unions).                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      For-profit Recipients must submit a FSA
 Report (For-Profit             Report in AMIS, along with the
 Recipient).                    Recipient's statement of financial
                                condition audited or reviewed by an
                                independent certified public accountant.
Financial Statement Audit      If the Recipient is a Depository
 Report (Depository             Institution Holding Company or an
 Institution Holding Company    Insured Depository Institution, it must
 and Insured Depository         submit a FSA Report in AMIS.
 Institution).
Single Audit Report (Non-      A non-profit Recipient must complete an
 Profit Recipients, if          annual Single Audit pursuant to the
 applicable).                   Uniform Requirements (see 2 CFR Subpart
                                F-Audit Requirements) if it expends
                                $750,000 or more in Federal awards in
                                its fiscal year, or such other dollar
                                threshold established by OMB pursuant to
                                2 CFR 200.501. If a Single Audit is
                                required, it must be submitted
                                electronically to the Federal Audit
                                Clearinghouse (FAC) (see 2 CFR subpart F-
                                Audit Requirements in the Uniform
                                Requirements) and optionally through
                                AMIS.
Transaction Level Report       The Recipient must submit a TLR to the
 (TLR).                         CDFI Fund through AMIS.
                               If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary CDFI
                                Insured Depository Institution, that
                                Subsidiary CDFI Insured Depository
                                Institution must also submit a TLR.
                                Furthermore, if the Depository
                                Institution Holding Company itself
                                deploys any portion of the Financial
                                Assistance, the Depository Institution
                                Holding Company must submit a TLR.
                               The TLR is not required for TA
                                Recipients.

[[Page 10412]]

 
Uses of Award Report.........  The Recipient must submit the Uses of
                                Award Report to the CDFI Fund in AMIS.
                                If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary CDFI
                                Insured Depository Institution, that
                                Subsidiary CDFI Insured Depository
                                Institution must also submit a Uses of
                                Award Report. Furthermore, if the
                                Depository Institution Holding Company
                                itself deploys any portion of the
                                Financial Assistance, the Depository
                                Institution Holding Company must submit
                                a Uses of Award Report.
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. The
                                Shareholders Report is submitted through
                                AMIS.
Performance Progress Report..  The Recipient must submit the Performance
                                Progress Report through AMIS.
                               If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary CDFI
                                Insured Depository Institution, that
                                Subsidiary CDFI Insured Depository
                                Institution must also submit a
                                Performance Progress Report.
                                Furthermore, if the Depository
                                Institution Holding Company itself
                                deploys any portion of the Financial
                                Assistance, the Depository Institution
                                Holding Company must submit a
                                Performance Progress Report.
------------------------------------------------------------------------
* Personally Identifiable Information (PII) is information, which if
  lost, compromised, or disclosed without authorization, could result in
  substantial harm, embarrassment, inconvenience, or unfairness to an
  individual. Although Applicants are required to enter addresses of
  individual borrowers/residents of Distressed Communities in AMIS,
  Applicants should not include the following PII for the individuals
  who received the Financial Products or Financial Services in AMIS or
  in the supporting documentation (i.e., name of the individual, Social
  Security Number, driver's license or state identification number,
  passport number, Alien Registration Number, etc.). This information
  should be redacted from all supporting documentation.

    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/or documentation. The CDFI Fund will use such 
information to monitor each Recipient's compliance with the 
requirements of 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 the CDFI Fund to ensure compliance 
with the terms and conditions of the CDFI Program, including the 
tracing of funds to a level of expenditures adequate to establish that 
such funds have been used in accordance with 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 appropriate 
action when not in compliance; and safeguard personally identifiable 
information.

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 
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, Office of Certification, Compliance 
Monitoring and Evaluation, or IT Help Desk. The CDFI Fund will post on 
its website responses to reoccurring questions received about the NOFA 
and 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 number (not
           Type of question                Preferred method            toll free)            Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program.........................  Service Request via      202-653-0421, option 1.  [email protected]
                                        AMIS.
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, the preferred 
method of contact is to submit a Service Request within AMIS. For the 
Service Request, select ``Technical Issues'' from the Program dropdown 
menu of the Service Request. 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), email 
addresses, fax and phone numbers, and office locations.

[[Page 10413]]

    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).
    E. Statutory and National Policy Requirements: The CDFI Fund will 
manage and administer the Federal award in a manner so as to ensure 
that Federal funding is expended and associated programs are 
implemented in full accordance with the U.S. Constitution, Federal Law, 
statutory, and public policy requirements: including but not limited 
to, those protecting free speech, religious liberty, public welfare, 
the environment, and prohibiting discrimination.

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, inclusive of PPC-FA, DF-FA, and HFFI-FA.
    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.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2021-03356 Filed 2-18-21; 8:45 am]
BILLING CODE 4810-70-P

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