Community Development Financial Institutions Fund 2005 – Federal Register Recent Federal Regulation Documents

Proposed Collection; Comment Request
Document Number: E5-7901
Type: Notice
Date: 2005-12-28
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (the Fund), a bureau of the Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit (NMTC) ProgramAllocation Application.
Funding Opportunity Title: Revised Notice of Funds Availability (NOFA) Inviting Applications for the FY 2006 Funding Round and the FY 2007 Funding Round of the Native American CDFI Assistance Program
Document Number: E5-7630
Type: Notice
Date: 2005-12-21
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Subject to funding availability, this NOFA is issued in connection with two consecutive funding rounds of the Native American CDFI Assistance (NACA) Program: (i) The FY 2006 Funding Round and (ii) the FY 2007 Funding Round. This NOFA replaces, in its entirety, the NOFA published in the Federal Register on December 13, 2005 (70 FR 73877); through this NOFA, the Fund has revised several of the dates set forth in the December 13, 2005 NOFA. Interested parties should review and refer to this NOFA, disregarding the December 13, 2005 NOFA, as the dates in the December 13, 2005 NOFA are inaccurate.
Funding Opportunity Title: Revised Notice of Funds Availability (NOFA) Inviting Applications for the FY 2006 Funding Round and the FY 2007 Funding Round of the Community Development Financial Institutions Program
Document Number: E5-7629
Type: Notice
Date: 2005-12-21
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Subject to funding availability, this NOFA is issued in connection with two consecutive funding rounds of the Community Development Financial Institutions (CDFI) Program: (i) The FY 2006 Funding Round and (ii) the FY 2007 Funding Round. This NOFA replaces, in its entirety, the NOFA published in the Federal Register on December 13, 2005 (70 FR 73866); through this NOFA, the Fund has revised several of the dates set forth in the December 13, 2005 NOFA. Interested parties should review and refer to this NOFA, disregarding the December 13, 2005 NOFA, as the dates in the December 13, 2005 NOFA are inaccurate.
Community Development Financial Institutions Program
Document Number: 05-23751
Type: Rule
Date: 2005-12-13
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
The Department of the Treasury is issuing a revised interim rule implementing the Community Development Financial Institutions Program (CDFI Program) administered by the Community Development Financial Institutions Fund (Fund). The mission of the CDFI Fund is to increase the capacity of financial institutions to provide capital, credit and financial services in underserved markets. Its long-term vision is an America in which all people have access to affordable credit, capital and financial services. The purpose of the CDFI Program is to promote economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). Under the CDFI Program, the Fund provides financial assistance in the form of grants, loans, equity investments and deposits to CDFIs selected through a merit-based application process. The Fund provides financial assistance to CDFIs to enhance their ability to make loans and investments, and to provide related services for the benefit of designated investment areas, targeted populations, or both. In addition, through the CDFI Program, the Fund provides technical assistance grants to CDFIs and entities that propose to become CDFIs, for the purpose of increasing their capacity to serve their target markets. This revised interim rule includes one revision that the Fund believes will inure to the benefit of CDFIs, CDFI Program applicants, and CDFI Program awardees. This revised interim rule includes a revised Sec. 1805.504, Retained Earnings, which clarifies the use of retained earnings as matching funds for a financial assistance award.
Notice of Funds Availability (NOFA) Inviting Applications for the FY 2006 Funding Round and the FY 2007 Funding Round of the Community Development Financial Institutions Program
Document Number: 05-23750
Type: Notice
Date: 2005-12-13
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Subject to funding availability, this NOFA is issued in connection with two consecutive funding rounds of the Community Development Financial Institutions (CDFI) Program: (i) the FY 2006 Funding Round and (ii) the FY 2007 Funding Round.
Notice of Funds Availability (NOFA) Inviting Applications for the FY 2006 Funding Round of the Bank Enterprise Award (BEA) Program
Document Number: 05-23749
Type: Notice
Date: 2005-12-13
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
On September 9, 2004, the Community Development Financial Institutions Fund (the ``Fund'') announced in a NOFA for the BEA Program (69 FR 54718) that BEA Program applicants that are also Community Development Financial Institutions (``CDFIs'') cannot receive credit under the BEA Program for financial assistance or Qualified Activities provided to CDFI Partners that are also FDIC-insured depository institutions or depository institution holding companies. Due to the recent occurrence of certain natural disasters, the Fund will waive this provision with regard to the FY 2006 funding round of the BEA Program for applicants providing financial assistance or Qualified Activities to CDFI Partners that are also FDIC-insured depository institutions or depository institution holding companies which have been directly affected by said disasters. For the FY 2006 funding round, CDFIs may receive BEA Program credit for financial assistance or Qualified Activities provided to CDFI Partners that are FDIC-insured depository institutions or depository institution holding companies whose principal place of business is located in a county for which the Federal Emergency Management Agency (FEMA) has issued a ``major disaster declaration'' due to Hurricane Katrina on or after August 28, 2005 or due to Hurricane Rita on or after September 24, 2005 and made a determination that such county is eligible for both ``individual and public assistance.'' A list of the eligible counties may be found on the FEMA Web site (http:// www.fema.gov). Change of Application Deadlines: The NOFA published on September 9, 2004 for the BEA Program (69 FR 54718) also announced that the deadline for applications for the FY 2006 funding round is February 14, 2006. This notice is to announce that the deadline for the submission of applications via Grants.gov for the FY 2006 funding round of the BEA Program has been changed to 5 p.m. EST on March 1, 2006. Paper attachments to the application must be received no later than 5 p.m. EST on March 6, 2006. Increase of Award Amount: The NOFA published on September 9, 2004 for the BEA Program (69 FY 54718) also announced that the Fund expects that it may award approximately $6 million in appropriated funds for FY 2006 BEA Program awards. This notice is to announce that the Fund now expects that it may award approximately $12 million for FY 2006 BEA Program awards. The Fund reserves the right to make awards in an amount less than or in excess of this amount subject to funding availability. Modification of Application and Submission Information: The NOFA published on September 9, 2004 for the BEA Program (69 FY 54718) provided information regarding submission of applications in response to the NOFA. This notice is to announce that for the FY 2006 funding round, in compliance with Public Law 106-107 and Section 5(a) of the Federal Financial Assistance Management Improvement Act, the Fund is required to accept applications submitted through the Grants.gov electronic system. The Fund will post to its Web site at http://www.cdfifund.gov instructions for accessing and submitting an application through Grants.gov. The application instructions will be posted as soon as they are available and once the application materials are accessible through Grants.gov. The anticipated release date for the application instructions is January 6, 2006. Applicants are encouraged to start the registration process now at www.Grants.gov as the process may take several weeks to fully complete. See the following link for information on getting started on Grants.gov: http://grants.gov/assets/ GrantsgovCoBrandBrochure8X11.pdf. All other information and requirements set forth in the September 9, 2004 NOFA for the BEA Program shall remain effective, as published.
Notice of Funds Availability (NOFA) Inviting Applications for the FY 2006 Funding Round and the FY 2007 Funding Round of the Native American CDFI Assistance Program
Document Number: 05-23748
Type: Notice
Date: 2005-12-13
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
Subject to funding availability, this NOFA is issued in connection with two consecutive funding rounds of the Native American CDFI Assistance (NACA) Program: (i) The FY 2006 Funding Round and (ii) the FY 2007 Funding Round.
Notice of Allocation Availability (NOAA) Inviting Applications for the CY 2006 Allocation Round of the New Markets Tax Credit Program
Document Number: 05-18325
Type: Notice
Date: 2005-09-14
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
On July 15, 2005, the Community Development Financial Institutions Fund (the ``Fund'') announced in a NOAA for the New Markets Tax Credit Program (70 FR 41075) that the deadline for electronic allocation applications is 5 p.m. ET on September 21, 2005. The NOAA also announced that paper allocation applications must be postmarked on or before September 21, 2005 and received by the Fund at the address cited in the NOAA by 5 p.m. ET on September 30, 2005. Due to the recent occurrence of certain natural disasters, the Fund will consider extending these deadlines, on a case-by-case basis, for applicants that have been directly affected by said disasters. In general, to be eligible for an application deadline extension, an applicant must demonstrate that it cannot submit its application by September 21, 2005 because: 1. Its principal place of business is located in a county for which the Federal Emergency Management Agency (FEMA) has: a) issued a ``major disaster declaration'' since July 15, 2005; and b) made a determination that such county is eligible for both ``individual and public assistance''; or 2. There exist mitigating factors directly attributable to the disaster-related conditions in a county for which FEMA has: a) issued a ``major disaster declaration'' since July 15, 2005; and b) made a determination that such county is eligible for both ``individual and public assistance.'' If you would like to request an application deadline extension, you must send your request via e-mail to grantsmanagement@cdfi.treas.gov with the subject line ``Deadline Extension Request: 2006 NMTC Allocation Application.'' If you are unable to file your request by e- mail, you may contact the Fund by telephone at (202) 622-8226 or by facsimile at (202) 622-6453. These are not toll free numbers. Be sure to indicate in your telephone message or fax that you are requesting an extension of the 2006 NMTC Allocation Application deadline. In your request, you must explain why the application deadline extension is necessary, citing the specific circumstances preventing your organization from completing and/or submitting the application materials by the deadlines set forth in the NOAA. You must address, at a minimum, whether: your offices were closed and/or were without electricity for significant periods of time; staff members were not available to work on the application materials during critical periods; and/or other application partners (e.g., investors, consultants, community partners) were not available to provide materials critical to the compilation of a complete application. To ensure full consideration of your request prior to the September 21, 2005 Allocation Application deadline, you should submit your extension request as soon as feasible and by no later than 5 p.m. ET, Monday, September 19, 2005. The Fund reserves the right, in its sole discretion, to request additional supporting documentation before rendering a final determination. Please also note that the Fund is not at this time accepting any requests to extend deadlines pertaining to the issuance of qualified equity investments by prior allocatees planning to apply for allocations in the CY 2006 round of the NMTC Program (see section III.A.2.(a) of the NOAA). The Fund may issue, in its sole discretion, additional guidance on this matter at a later date. All other information and requirements set forth in the July 15, 2005 NOAA shall remain effective, as published.
Notice of Allocation Availability (NOAA) Inviting Applications for the CY 2006 Allocation Round of the New Markets Tax Credit Program
Document Number: 05-13591
Type: Notice
Date: 2005-07-15
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
This NOAA is issued in connection with the calendar year 2006 tax credit allocation round of the New Markets Tax Credit (NMTC) Program, as authorized by Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (the Act). Through the NMTC Program, the Community Development Financial Institutions Fund (the Fund) provides authority to CDEs to offer an incentive to investors in the form of a tax credit over seven years, which is expected to stimulate the provision of $15 billion in private investment capital that, in turn, will facilitate economic and community development in Low- Income Communities. In this NOAA, the Fund addresses specifically how an entity may apply to receive an allocation of NMTCs, the competitive procedure through which NMTC Allocations will be made, and the actions that will be taken to ensure that proper allocations are made to appropriate entities.
New Markets Tax Credit Program
Document Number: 05-10223
Type: Proposed Rule
Date: 2005-05-24
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
This document provides advance notice of proposed rulemaking for the issuance of regulations relating to the New Markets Tax Credit (NMTC) Program as authorized by 26 U.S.C. 45D. This document invites comments from the public on certain issues regarding the designation of low-income communities for purposes of the NMTC Program. All materials submitted will be available for public inspection and copying.
Notice of Funds Availability Inviting Applications for the Community Development Financial Institutions Program-Technical Assistance Component: New Application Deadline
Document Number: 05-3224
Type: Notice
Date: 2005-02-22
Agency: Community Development Financial Institutions Fund, Department of Treasury, Department of the Treasury
On December 3, 2004, the Community Development Financial Institutions Fund (the ``Fund'') announced in a Notice of Funds Availability (``NOFA'') for the Technical Assistance Component of the CDFI Program (69 FR 70307) that the deadline for applications for Technical Assistance grants for the FY 2005 funding round of the Technical Assistance Component was 5 p.m. ET on January 25, 2005. This notice is to announce that the Fund has established a new application deadline for the FY 2005 funding round of the Technical Assistance Component of the CDFI Program: Technical Assistance Component applications may be submitted up to 5 p.m. ET on March 7, 2005. Interested parties should review the December 3, 2004 NOFA for details on the FY 2005 funding round of the Technical Assistance Component and the application process. The December 3, 2004 NOFA, the Technical Assistance Component application, and other related documents may be found on the Fund's Web site at http://www.cdfifund.gov. Interested parties also must note the following information that is specific to applications that are submitted in response to this NOFA amendment: Any entity that submitted a Technical Assistance Component application in response to the December 3, 2004 NOFA may not submit another application in response to this notice unless the application was rejected by the Fund for reason of incompleteness or lateness. If the Fund rejected the application due to incompleteness or lateness, it may be submitted in response to this notice and will be reviewed for funding so long as it meets the Fund's requirements as set forth in the December 3, 2004 NOFA. The Fund will review applications in accordance with the policies, procedures and requirements set forth in the December 3, 2004 NOFA. Applications that were submitted in response to the December 3, 2004 NOFA will be reviewed first. Applications submitted in response to this notice will be reviewed after applications submitted in response to the December 3, 2004 NOFA are reviewed. The Fund will make its funding decisions for applications submitted in response to this notice after funding decisions are made regarding applications made in response to the December 3, 2004 NOFA, subject to funding availability. If an applicant under this notice is required to submit a ``Certification of Material Change Form,'' it must do so by February 28, 2005. Refer to the December 3, 2004 NOFA for further information. All other information and requirements set forth in the December 3, 2004 NOFA for the FY 2005 funding round of the Technical Assistance Component shall remain effective, as published.