65246 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

Paperwork Reduction Act of 1995, Pub. 

L. 104–13. Copies of the submission(s) 

may be obtained by calling the Treasury 

Bureau Clearance Officer listed. 

Comments regarding this information 

collection should be addressed to the 

OMB reviewer listed and to the 

Treasury Department Clearance Officer, 

Department of the Treasury, Room 

11000, 1750 Pennsylvania Avenue, 

NW., Washington, DC 20220.

DATES: Written comments should be 

received on or before December 10, 2004 

to be assured of consideration. 

Alcohol and Tobacco Tax and Trade 

Bureau (TTB) 

OMB Number: 1513–0044. 

Form Number: TTB F 5110.34. 

Type of Review: Extension. 

Title: Notice of Change in Status of 

Plant. 

Description: TTB F 5110.34 is 

necessary to show the use of the 

distilled spirits plan (DSP) premises for 

other activities or by alternating 

proprietors. It describes proprietor’s use 

of plant premises and other information 

show that the change in plant status is 

in community with law and regulations. 

It also shows what bond covers the 

activities of the DSP at a given time. 

Respondents: Business of other forprofit. 

Estimated Number of Respondents:

100. 

Estimated Burden Hours Per 

Respondent: 1 hour. 

Frequency of Response: On occasion. 

Estimated Total Reporting Burden:

1,000 hours. 

OMB Number: 1513–0050. 

Form Number: TTB F 5110.50. 

Type of Review: Extension. 

Title: Tax Deferral Bond—Distilled 

Spirits (Puerto Rico). 

Description: TTB Form 5110.50 is the 

bond to secure payment of excise taxes 

on distilled spirits shipped from Puerto 

Rico to the U.S. on deferral of the tax. 

The form identifies the principal, the 

surety, purpose of bond, and allocation 

of the penal sum among the principal’s 

locations. 

Respondents: Business of other forprofit. 

Estimated Number of Respondents:

10. 

Estimated Burden Hours Per 

Respondent: 1 hour. 

Frequency of Response: On occasion. 

Estimated Total Reporting Burden: 10 

hours. 

Clearance Officer: William H. Foster, 

(202) 927–8210, Alcohol and Tobacco 

Tax and Trade Bureau, Room 200 East, 

1310 G. Street, NW., Washington, DC 

20005. 

OMB Reviewer: Joseph F. Lackey, Jr., 

(202) 395–7316, Office of Management 

and Budget, Room 10235, New 

Executive Office Building, Washington, 

DC 20503.

Lois K. Holland, 

Treasury PRA Clearance Officer.

[FR Doc. 04–25049 Filed 11–9–04; 8:45 am] 

BILLING CODE 4810–31–P

DEPARTMENT OF THE TREASURY

Submission for OMB Review; 

Comment Request 

November 2, 2004. 

The Department of Treasury has 

submitted the following public 

information collection requirement(s) to 

OMB for review and clearance under the 

Paperwork Reduction Act of 1995, Pub. 

L. 104–13. Copies of the submission(s) 

may be obtained by calling the Treasury 

Bureau Clearance Officer listed. 

Comments regarding this information 

collection should be addressed to the 

OMB reviewer listed and to the 

Treasury Department Clearance Officer, 

Department of the Treasury, Room 

11000, 1750 Pennsylvania Avenue, 

NW., Washington, DC 20220.

DATES: Written comments should be 

received on or before December 10, 2004 

to be assured of consideration. 

Internal Revenue Service (IRS) 

OMB Number: 1545–1631. 

Regulation Project Number: REG–

209619–93 NPRM. 

Type of Review: Extension. 

Title: Escrow Funds and Other 

Similar Funds. 

Description: Section 468B(g) requires 

that income earned on escrow accounts, 

settlement funds, and similar funds be 

subject to current taxation. This section 

authorizes the Secretary to issue 

regulations providing for the current 

taxation of these accounts and funds as 

grantor trusts or otherwise. The 

proposed regulations would amend the 

final regulations for qualified settlement 

funds (QFSs) and would provide new 

rules for qualified escrows and qualified 

trusts used in deferred section 1031 

exchanges; pre-closing escrows; 

contingent at-closing escrows; and 

disputed ownership funds. 

Respondents: Business or other forprofit, Individuals or households, Notfor-profit institutions, Federal 

Government, State, local or tribal 

government. 

Estimated Number of Respondents:

9,300. 

Estimated Burden Hours Respondent:

30 minutes. 

Frequency of response: On occasion. 

Estimated Total Reporting Burden:

4,650 hours. 

OMB Number: 1545–1889. 

Notice Number: Notice 2004–59. 

Type of Review: Extension. 

Title: Plan Amendments Following 

Election of Alternative Deficit 

Reduction Contribution. 

Description: This notice sets forth 

answers to certain questions raised by 

the public when there is an amendment 

to an election to take advantage of the 

alternative deficit reduction 

contribution described in Pub. L. 108–

218. The notice requires of what are 

designated as restricted amendments. 

Respondents: Business or other forprofit, Not-for-profit institutions. 

Estimated Number of Respondents:

100. 

Estimated Burden Hours Respondent:

4 hours. 

Frequency of response: On occasion. 

Estimated Total Reporting Burden:

400 hours. 

Clearance Officer: R. Joseph Durbala, 

(202) 622–3634, Internal Revenue 

Service, Room 6516, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

OMB Reviewer: Joseph F. Lackey, Jr., 

(202) 395–7316, Office of Management 

and Budget, Room 10235, New 

Executive Office Building, Washington, 

DC 20503.

Lois K. Holland, 

Treasury PRA Clearance Officer.

[FR Doc. 04–25050 Filed 11–9–04; 8:45 am] 

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Community Development Financial 

Institutions Fund 

Funding Opportunity Title: Notice of 

Funds Availability (NOFA) Inviting 

Applications for the FY 2005 Funding 

Round of the Financial Assistance 

Component of the Community 

Development Financial Institutions 

Program 

Announcement Type: Initial 

announcement of funding opportunity. 

Catalog of Federal Domestic 

Assistance (CFDA) Number: 21.020.

DATES: Applications for the FY 2005 

funding round must be received by 5 

p.m. ET on February 24, 2005. All 

applications submitted must meet all 

eligibility and other requirements and 

deadlines, as applicable, set forth in this 

NOFA. Applications received after 5 

p.m. ET on the applicable deadline will 

be rejected and returned to the sender. 

Executive Summary: This NOFA is 

issued in connection with the FY 2005 

funding round of the Financial 

Assistance (FA) Component of the 

Community Development Financial 

Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 65247

Institutions (CDFI) Program. Through 

the FA Component, the Community 

Development Financial Institutions 

Fund (the Fund) provides FA awards 

and technical assistance (TA) grants to 

CDFIs that have Comprehensive 

Business Plans for creating 

demonstrable community development 

impact through the deployment of 

capital within their respective Target 

Markets for community development 

purposes. Through this NOFA, the Fund 

makes funding available to Applicants 

that meet the requirements of either of 

two categories: (i) Category I/Small and 

Emerging CDFI Assistance (SECA), and 

(ii) Category II/Core & Sustainable CDFI 

Assistance (Core). 

I. Funding Opportunity Description 

A. Through this NOFA, the Fund 

intends to target its resources and 

provide: (i) FA awards to CDFIs that 

will use award proceeds to serve their 

respective Target Markets and (ii) TA 

grants to build Awardee capacity to 

serve Target Market(s). 

B. CDFI Program Regulations/Interim 

Rule: The regulations governing the 

CDFI Program can be found at 12 CFR 

Part 1805 (the Interim Rule) and provide 

guidance on evaluation criteria and 

other requirements of the CDFI Program. 

The Fund encourages Applicants to 

review the Interim Rule. Detailed 

application content requirements are 

found in the application related to this 

NOFA. Each capitalized term in this 

NOFA is more fully defined in the 

Interim Rule or the application. 

II. Award Information 

A. Award Information: Subject to 

funding availability, the Fund expects 

that it may award approximately $22 

million in appropriated funds through 

this NOFA, of which approximately $2 

million in appropriated funds may be 

awarded to Category I/SECA Applicants. 

The Fund reserves the right to award in 

excess of $22 million in appropriated 

funds (and/or more or less than $2 

million to Category I/SECA applicants) 

under this NOFA, provided that the 

funds are available and the Fund deems 

it appropriate. Through this NOFA, the 

Fund anticipates making awards: (i) up 

to and including $300,000 per FA award 

for Category I/SECA CDFIs; and (ii) up 

to and including $2,000,000 per award 

for Category II/Core CDFIs. The Fund, in 

its sole discretion, reserves the right to 

award amounts in excess of or less than 

the anticipated maximum award 

amount if the Fund deems it 

appropriate. Further, the Fund reserves 

the right to fund, in whole or in part, 

any, all, or none of the applications 

submitted in response to this NOFA. 

The Fund reserves the right to reallocate funds from the amount that is 

anticipated to be available under this 

NOFA to other Fund programs, 

particularly if the Fund determines that 

the number of awards made under this 

NOFA is fewer than projected. 

B. Types of Awards: An Applicant 

may submit an application either for a 

FA award only, or for a FA award and 

a TA grant, under this NOFA. While the 

FA Component offers TA grants in 

conjunction with FA awards, entities 

seeking TA grants only should apply for 

funds through the TA Component of the 

CDFI Program. 

1. FA Awards: FA awards may be 

provided by the Fund through equity 

investments (including, in the case of 

certain Insured Credit Unions, 

secondary capital accounts), grants, 

loans, deposits, credit union shares, or 

any combination thereof. The Fund 

reserves the right, in its sole discretion, 

to provide a FA award in a form and 

amount other than that which is 

requested by an Applicant. 

2. TA Grants: TA awards are in the 

form of grants. The Fund reserves the 

right, in its sole discretion, to provide a 

TA grant for uses and amounts other 

than that which are requested by an 

Applicant. The Fund reserves the right, 

in its sole discretion, to provide a TA 

grant for specified purposes, even if the 

Applicant has not requested a TA grant, 

and/or to provide a FA award on the 

condition that the Applicant agrees to 

use a TA grant for specified purposes. 

Applicants for TA grants through this 

NOFA are required to provide 

information in the application regarding 

the expected cost, timing and provider 

of the TA, and a narrative description of 

how the TA will enhance their capacity 

to provide greater community 

development impact. Capacity 

enhancements may address a range of 

activities including, but not limited to, 

improvement of underwriting and 

portfolio management, development of 

outreach and training strategies to 

enhance product delivery, and tools that 

allow the Applicant to assess the impact 

of its activities in its community. 

Eligible TA grant uses include, but are 

not limited to, the following: (i) 

acquiring consulting services; (ii) paying 

staff salary for the limited purposes of 

completing tasks and/or fulfilling 

functions that are otherwise eligible TA 

grant uses through this NOFA; (iii) 

acquiring/enhancing technology items, 

including computer hardware, software 

and Internet connectivity; and (iv) 

acquiring training for staff or 

management. 

The Fund will not consider requests 

for TA grants under this NOFA for 

expenses that, in the determination of 

the Fund, are deemed to be ongoing 

operating expenses rather than nonrecurring expenses. The Fund will 

consider requests for use of TA grant 

funds to pay for staff salary only when 

the Applicant demonstrates, to the 

Fund’s satisfaction, that: (i) the staff 

salary relates directly to building the 

Applicant’s capacity to serve its Target 

Market; (ii) the proposed staff time to be 

paid for by the TA grant will be used for 

a non-recurring activity that will build 

the Applicant’s capacity to achieve its 

objectives as set forth in its 

Comprehensive Business Plan; (iii) the 

proposed capacity-building activity 

would otherwise be contracted to a 

consultant or not be undertaken; and 

(iv) the staff person assigned to the 

proposed task has the competence to 

successfully complete the activity. 

C. Notice of Award; Assistance 

Agreement: Each Awardee under this 

NOFA must sign a Notice of Award (for 

further information, see Section VI.A, 

below) and an Assistance Agreement 

(see Section VI.B, below) prior to 

disbursement by the Fund of award 

proceeds. The Notice of Award and the 

Assistance Agreement contain the terms 

and conditions of the award. 

III. Eligibility Information

A. Eligible Applicants 

The Interim Rule specifies the 

eligibility requirements that each 

Applicant must meet in order to be 

eligible to apply for assistance under 

this NOFA. The following sets forth 

additional detail and dates that relate to 

the submission of applications under 

this NOFA: 

1. Applicant Categories: All 

Applicants for FA Component awards 

must meet the criteria for one of the 

following two categories of CDFIs:

65248 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

Applicant category Criteria What can it apply for? 

Category I/small and/or Emerging 

CDFA Assistance (SECA).

A Category I/SECA Applicant is a CDFI that: ............................. A Category I/SECA Applicant may request up to and including $300,000 

in FA funds, plus any amount of TA 

funds otherwise allowed under 

NOFA. 

Has total assets as of December 31, 2004 as follows:.

•Insured Depository Institutions and Depository Institution Holding Companies: up to $100 million.

•Insured Credit Unions: up to $10 million.

•Venture capital funds: up to $10 million.

• Other CDFIs: up to $5 million OR.

Began operations on or after February 24, 2000 AND.

Prior to the application deadline under this NOFA, has not 

been selected to receive an excess of $300,000 in FA 

award(s) in the aggregate from the CDFI Program or Native 

Initiatives Funding Programs.

Category II/core and sustainable CDF 

assistance (Core).

A Category II/Core Applicant is a CDFI that meets all other eligibility requirements described in this NOFA.A Category II/Core Applicant may request up to and including $2 million 

in FA funds only or a combination 

of FA and TA funds. 

Please Note: any Applicant, regardless 

of size, years in operation, or prior Fund 

awards, that requests FA funding in 

excess of $300,000 is classified as a 

Category II/Core Applicant. 

For the purposes of this NOFA, the 

term ‘‘began operations’’ is defined as 

the month and year in which the 

Applicant first incurred operating 

expenses of any type. Also, for purposes 

of this NOFA, the term ‘‘Native 

Initiatives Funding Programs’’ refers to 

the following programs administered by 

the Fund: the Native American CDFI 

Technical Assistance (NACTA) 

Component of the CDFI Program, the 

Native American CDFI Development 

(NACD) Program, the Native American 

Technical Assistance (NATA) 

Component of the CDFI Program, and 

the Native American CDFI Assistance 

(NACA) Program. 

The Fund will evaluate, rank and 

make awards to Category I/SECA 

Applicants separately from Category II/

Core Applicants. 

2. CDFI Certification: For purposes of 

this NOFA, eligible Applicants include: 

(a) Any certified CDFI whose 

certification has not expired and/or that 

has not been notified by the Fund that 

its certification has been terminated. 

Each such Applicant must submit a 

‘‘Certification of Material Change Form’’

to the Fund not later than January 14, 

2005, in accordance with the 

instructions on the Fund’s Web site at 

http://www.cdfifund.gov. Failure to 

timely submit said form may result in 

the Fund deeming the funding 

application fatally incomplete and 

rejecting the funding application 

without further review. Please Note: the 

Fund provided a number of CDFIs with 

certifications expiring in 2003 through 

2005 with written notification that their 

certifications had been extended. The 

Fund will consider the extended 

certification date (the later date) to 

determine whether those CDFIs meet 

this eligibility requirement; or

(b) Any Applicant from which the 

Fund receives a complete CDFI 

certification application no later than 

January 14, 2005, evidencing that the 

Applicant can be certified as a CDFI. 

Applicants may obtain CDFI 

certification applications through the 

Fund’s Web site at http://

www.cdfifund.gov. Applications for 

certification must be submitted as 

instructed in the application form. 

3. Prior Awardees: Applicants must be 

aware that success in a prior round of 

any of the Fund’s programs is not 

indicative of success under this NOFA. 

Prior awardees are eligible to apply 

under this NOFA, except as follows: 

(a) Non-certified Applicants. Any 

entity that has received a Notice of 

Award from the Fund for a prior 

funding round of the CDFI Program or 

the Native Initiatives Funding Programs, 

but that has not submitted a CDFI 

certification application nor been 

certified as a CDFI, is not eligible to 

receive funding under this NOFA (see

Section III.A.2, above). 

(b) $5 Million Funding Cap. The Fund 

is generally prohibited from obligating 

more than $5 million in assistance, in 

the aggregate, to any one organization 

and its Subsidiaries and Affiliates 

during any three-year period. For the 

purposes of this NOFA, the period 

extends back three years from the date 

that the Fund signs a Notice of Award 

issued to an Awardee under this NOFA. 

(c) Failure to Meet Reporting 

Requirements. The Fund will not 

consider an application submitted by an 

Applicant if that Applicant, or an entity 

that Controls the Applicant, is 

Controlled by the Applicant, or shares 

common management officials with the 

Applicant (as determined by the Fund), 

is a prior Fund Awardee or allocatee 

under any Fund program and is not 

current on the reporting requirements 

set forth in any previously executed 

assistance, allocation or award 

agreement(s) with the Fund, as of the 

application deadline of this NOFA. 

Please note that the Fund only 

acknowledges the receipt of reports that 

are complete. As such, incomplete 

reports or reports that are deficient of 

required elements will not be 

recognized as having been received. 

(d) Pending Resolution of 

Noncompliance. If (i) an Applicant is a 

prior Awardee or allocatee under any 

Fund program and has submitted 

complete and timely reports to the Fund 

that demonstrate noncompliance with a 

previous assistance, award or allocation 

agreement, and (ii) the Fund has yet to 

make a final determination as to 

whether the entity is in default of its 

previous assistance, award or allocation 

agreement, then the Fund will consider 

the Applicant’s application under this 

NOFA pending full resolution, in the 

sole determination of the Fund, of the 

instance of noncompliance. Further, if 

(i) another entity that Controls the 

Applicant, is Controlled by the 

Applicant, or shares common 

management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

and such entity has submitted complete 

and timely reports to the Fund that 

demonstrate noncompliance with a 

previous assistance, award or allocation 

agreement, and (ii) the Fund has yet to 

make a final determination as to 

whether the entity is in default of its 

Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 65249

previous assistance award or allocation 

agreement, then the Fund will consider 

the Applicant’s application under this 

NOFA pending full resolution, in the 

sole determination of the Fund, of the 

instance of noncompliance. 

(e) Default Status. The Fund will not 

consider an application submitted by an 

Applicant that is a prior Fund Awardee 

or allocatee under any Fund program if, 

as of the application deadline of this 

NOFA, the Fund has made a final 

determination that such Applicant is in 

default of a previously executed 

assistance, award or allocation 

agreement(s) and the Fund has provided 

written notification of such 

determination to such Applicant. 

Further, an entity is not eligible to apply 

for an award pursuant to this NOFA if, 

as of the application deadline, (i) the 

Fund has made a final determination 

that another entity that Controls the 

Applicant, is Controlled by the 

Applicant, or shares common 

management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

under any Fund program and that has 

been determined by the Fund to be in 

default of a previously executed 

assistance award or allocation 

agreement(s), and (ii) the Fund has 

provided written notification of such 

determination to the defaulting entity.

(f) Termination in Default. The Fund 

will not consider an application 

submitted by an Applicant that is a 

prior Fund Awardee or allocatee under 

any Fund program if, within the 12-

month period prior to the application 

deadline of this NOFA, the Fund has 

made a final determination that such 

Applicant’s prior award or allocation 

terminated in default of the assistance, 

award or allocation agreement and the 

Fund has provided written notification 

of such determination to such 

Applicant. Further, an entity is not 

eligible to apply for an award pursuant 

to this NOFA if, within the 12-month 

period prior to the application deadline 

of this NOFA, (i) the Fund has made a 

final determination that another entity 

that Controls the Applicant, is 

Controlled by the Applicant, or shares 

common management officials with the 

Applicant (as determined by the Fund), 

is a prior Fund Awardee or allocatee 

under any Fund program whose award 

or allocation terminated in default of the 

assistance, award or allocation 

agreement, and (ii) the Fund has 

provided written notification of such 

determination to the defaulting entity. 

(g) Undisbursed Balances. The Fund 

will not consider an application 

submitted by an Applicant that is a 

prior Fund Awardee under any Fund 

program if the Applicant has a balance 

of undisbursed funds (defined below) 

under said prior award(s), as of the 

application deadline of this NOFA. 

Further, an entity is not eligible to apply 

for an award pursuant to this NOFA if 

another entity that Controls the 

Applicant, is Controlled by the 

Applicant or shares common 

management officials with the 

Applicant (as determined by the Fund), 

is a prior Fund Awardee under any 

Fund program, and has a balance of 

undisbursed funds under said prior 

award(s), as of the application deadline 

of this NOFA. In the case where another 

entity Controls the Applicant, is 

Controlled by the Applicant or shares 

common management officials with the 

Applicant (as determined by the Fund), 

is a prior Fund Awardee under any 

Fund program, and has a balance of 

undisbursed funds under said prior 

award(s), as of the application deadline 

of this NOFA, the Fund will include the 

combined awards of the Applicant and 

such Affiliates when calculating the 

amount of undisbursed funds. For the 

purposes of this section, ‘‘undisbursed 

funds’’ is defined as (i) in the case of 

prior Bank Enterprise Award (BEA) 

Program award(s), any balance of award 

funds equal to or greater than five (5) 

percent of the total prior BEA Program 

award(s) for which a BEA award 

agreement has been fully executed that 

remains undisbursed more than three 

(3) years after the end of the calendar 

year in which the Fund signed an award 

agreement with the BEA awardee, and 

(ii) in the case of prior CDFI Program or 

other Fund program award(s), any 

balance of award funds equal to or 

greater than five (5) percent of the total 

prior award(s) for which an Assistance 

Agreement has been fully executed that 

remains undisbursed more than two (2) 

years after the end of the calendar year 

in which the Fund signed an Assistance 

Agreement with the Awardee. 

‘‘Undisbursed funds’’ does not include 

(i) tax credit allocation authority 

allocated through the New Markets Tax 

Credit Program; (ii) any award funds for 

which the Fund received a full and 

complete disbursement request from the 

Awardee as of the application deadline 

of this NOFA; (iii) any award funds for 

an award that has been terminated, 

expired, rescinded or deobligated by the 

Fund; and (iv) any award funds for an 

award that does not have a fully 

executed assistance or award agreement. 

The Fund strongly encourages 

Applicants requesting disbursements 

from prior awards to provide the Fund 

with a complete disbursement request at 

least 10 business days prior to the 

application deadline of this NOFA. 

(h) Contact the Fund. Accordingly, 

Applicants that are prior Awardees are 

advised to: (i) comply with 

requirements specified in assistance, 

award and/or allocation agreement(s), 

and (ii) contact the Fund to ensure that 

all necessary actions are underway for 

the disbursement of any outstanding 

balance of said prior award(s). All 

outstanding reports, compliance or 

disbursement questions should be 

directed to the Grants Management and 

Compliance Manager by e-mail at 

gmc@cdfi.treas.gov; by telephone at 

(202) 622–8226; by facsimile at (202) 

622–6453; or by mail to CDFI Fund, 601 

13th Street, NW., Suite 200 South, 

Washington, DC 20005. The Fund will 

respond to Applicants’ reporting, 

compliance or disbursement questions 

between the hours of 9 a.m. and 5 p.m. 

ET, starting the date of the publication 

of this NOFA through February 22, 2005 

(2 business days before the application 

deadline). The Fund will not respond to 

Applicants’ reporting, compliance or 

disbursement phone calls or e-mail 

inquiries that are received after 5 p.m. 

on February 22, 2005, until after the 

funding application deadline of 

February 24, 2005. 

(i) Entities that submit applications 

together with Affiliates; applications 

from common enterprises: As part of the 

award application review process, the 

Fund considers whether Applicants are 

Affiliates, as such term is defined in the 

Interim Rule. If an Applicant and its 

Affiliates wish to submit award 

applications, they must do so 

collectively, in one application; an 

Applicant and its Affiliates may not 

submit separate award applications. If 

Affiliated entities submit multiple 

applications, the Fund reserves the right 

either to reject all such applications 

received or to select a single application 

as the only one that will be considered 

for an award. For purposes of this 

NOFA, in addition to assessing whether 

Applicants meet the definition of the 

term ‘‘Affiliate’’ found in the Interim 

Rule, the Fund will consider: (i) 

whether the activities described in 

applications submitted by separate 

entities are, or will be, operated or 

managed as a common enterprise that, 

in fact or effect, could be viewed as a 

single entity; and (ii) whether the 

business strategies and/or activities 

described in applications submitted by 

separate entities are so closely related 

that, in fact or effect, they could be 

viewed as substantially identical 

applications. In such cases, the Fund 

reserves the right either to reject all 

applications received from all such 

65250 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

entities or to select a single application 

as the only one that will be considered 

for an award. 

4. Limitation on FA Awards: An 

Applicant may receive only one FA 

award through either the FA Component 

or the Native American CDFI Assistance 

(NACA) Program in the same funding 

year. An Applicant may apply under 

both the FA Component and the NACA 

Program, but will not be selected for 

funding under both. A FA Component 

Applicant, its Subsidiaries or Affiliates 

also may apply for and receive: (i) a tax 

credit allocation through the New 

Markets Tax Credit (NMTC) Program, 

but only to the extent that the activities 

approved for FA Component awards are 

different from those activities for which 

the Applicant receives a NMTC Program 

allocation; (ii) an award through the 

BEA Program (subject to certain 

limitations; refer to the Interim Rule at 

12 CFR 1805.102); and (iii) an award 

through the TA Component of the CDFI 

Program or the Native Initiatives 

Funding Programs, but only to the 

extent that the activities approved for a 

FA award are different from those for 

which the Applicant receives a TA or a 

Native Initiatives Funding Program 

award.

5. Other Targeted Populations: Other 

Targeted Populations are defined as 

identifiable groups of individuals in the 

Applicant’s service area for which there 

exists a strong basis in evidence that 

they lack access to loans, Equity 

Investments and/or Financial Services. 

The Fund has determined that there is 

strong basis in evidence that the 

following groups of individuals lack 

access to loans, Equity Investments and/

or Financial Services on a national 

level: Blacks or African Americans, 

Native Americans or American Indians, 

and Hispanics or Latinos. In addition, 

for purposes of this NOFA, the Fund has 

determined that there is a strong basis 

in evidence that Alaska Natives residing 

in Alaska, Native Hawaiians residing in 

Hawaii, and Other Pacific Islanders 

residing in other Pacific Islands, lack 

adequate access to loans, Equity 

Investments or Financial Services. An 

Applicant designating any of the abovecited Other Targeted Populations is not 

required to provide additional narrative 

explaining the Other Targeted 

Population’s lack of adequate access to 

loans, Equity Investments or Financial 

Services. Additionally, the Fund 

recognizes that there may be other such 

groups for which there is strong basis in 

evidence that they lack access to loans, 

Equity Investments and/or Financial 

Services. Such groups may be 

identified, and evidence of such lack of 

access may be provided, in the Market 

Need section of the application 

associated with this NOFA, and the 

application for CDFI certification (if not 

identified in the Target Market of a 

currently certified CDFI). 

For purposes of this NOFA, the Fund 

will use the following definitions, set 

forth in the Office of Management and 

Budget (OMB) Notice, Revisions to the 

Standards for the Classification of 

Federal Data on Race and Ethnicity 

(October 30, 1997), as amended and 

supplemented: 

(a) American Indian, Native American 

or Alaska Native: A person having 

origins in any of the original peoples of 

North and South America (including 

Central America) and who maintains 

tribal affiliation or community 

attachment; 

(b) Black or African American: A 

person having origins in any of the 

black racial groups of Africa (terms such 

as ‘‘Haitian’’ or ‘‘Negro’’ can be used in 

addition to ‘‘Black or African 

American’’); 

(c) Hispanic or Latino: A person of 

Cuban, Mexican, or Puerto Rican, South 

or Central American or other Spanish 

culture or origin, regardless of race (the 

term ‘‘Spanish origin’’ can be used in 

addition to ‘‘Hispanic or Latino’’); and 

(d) Native Hawaiian: A person having 

origins in any of the original peoples of 

Hawaii; and 

(e) Other Pacific Islander: A person 

having origins in any of the original 

peoples of Guam, Samoa or other Pacific 

Islands. 

For further detail, please visit the 

Fund’s Web site at http://

www.cdfifund.gov, under Certification/

Supplemental Information. 

B. Matching Funds 

1. Matching Funds Requirements in 

General: Applicants responding to this 

NOFA must obtain non-Federal 

matching funds from sources other than 

the Federal government on the basis of 

not less than one dollar for each dollar 

of FA funds provided by the Fund 

(matching funds are not required for TA 

grants). Matching funds must be at least 

comparable in form and value to the FA 

award provided by the Fund (for 

example, if an Applicant seeks an FA 

grant from the Fund, the Applicant must 

obtain matching funds through grant(s) 

from non-Federal sources that are at 

least equal to the amount requested 

from the Fund). Funds used by an 

Applicant as matching funds for a prior 

FA award under the CDFI Program or 

under another Federal grant or award 

program cannot be used to satisfy the 

matching funds requirement of this 

NOFA. If an Applicant seeks to use as 

matching funds monies received from 

an organization that was a prior 

Awardee under the CDFI Program, the 

Fund will deem such funds to be 

Federal funds, unless the funding entity 

establishes to the reasonable satisfaction 

of the Fund that such funds do not 

consist, in whole or in part, of CDFI 

Program funds or other Federal funds. 

For the purposes of this NOFA, BEA 

Program awards are not deemed to be 

Federal funds and are eligible as 

matching funds. 

2. Matching Funds Requirements Per 

Applicant Category: Due to funding 

constraints and the desire to quickly 

deploy Fund dollars, the Fund will not 

consider for an FA award any Applicant 

that does not demonstrate any matching 

funds committed or in-hand as of the 

application deadline under this NOFA. 

Specifically, FA Applicants must meet 

the following matching funds 

requirements: 

(a) Category I/SECA Applicants: The 

Fund expects Category I/SECA 

Applicants to demonstrate eligible 

matching funds equal to no less than 30 

percent of the amount of the FA award 

requested in-hand or firmly committed 

as of the application deadline. Matching 

funds in-hand (received) or firm 

commitments for matching funds made, 

on or after January 1, 2003, and on or 

before April 30, 2006, will be 

considered when determining matching 

funds eligibility. The Fund reserves the 

right to rescind all or a portion of an FA 

award and re-allocate the rescinded 

award amount to other qualified 

Applicant(s), if an Applicant fails to 

obtain in-hand the required matching 

funds by April 30, 2006 (with required 

documentation of such receipt received 

by the Fund not later than May 12, 

2006, or to grant an extension of such 

matching funds deadline for specific 

Applicants selected to receive FA, if the 

Fund deems it appropriate. For any 

Applicant that demonstrates that it has 

less than 100 percent of matching funds 

in-hand or firmly committed as of the 

application deadline, the Fund will 

evaluate the Applicant’s ability to raise 

the remaining matching funds by April 

30, 2006. 

(b) Category II/Core Applicants: The 

Fund expects that FA award amounts 

will not exceed 100 percent of eligible 

matching funds demonstrated in the 

application as in-hand or firmly 

committed as of the application 

deadline. Matching funds in-hand 

(received) or firm commitments for 

matching funds made on or after 

January 1, 2003, and on or before April 

30, 2006, will be considered when 

determining matching funds eligibility. 

The Fund reserves the right to rescind 

all or a portion of an FA award and reVerDate jul<14>2003 17:32 Nov 09, 2004 Jkt 205001 PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 E:\FR\FM\10NON1.SGM 10NON1
Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 65251

allocate the rescinded award amount to 

other qualified Applicant(s), if an 

Applicant fails to obtain in-hand the 

required matching funds by April 30, 

2006 (with required documentation of 

such receipt received by the Fund not 

later than May 12, 2006), or to grant an 

extension of such matching funds 

deadline for specific Applicants 

selected to receive FA, if the Fund 

deems it appropriate. 

3. Matching Funds Terms Defined.

For purposes of this NOFA, ‘‘matching 

funds in-hand’’ means that the 

Applicant has actually received the 

matching funds and has documentation 

(such as a copy of a check) to evidence 

such receipt; ‘‘firm commitment for 

matching funds’’ means that the 

Applicant has entered into or received 

a legally binding commitment from the 

matching funds source that the 

matching funds have been committed to 

be disbursed to the Applicant and the 

Applicant has documentation (such as a 

copy of a loan agreement, promissory 

note or grant agreement) to evidence 

such firm commitment. The Fund 

encourages Applicants to review the 

Interim Rule at 12 CFR 1805.500 et seq.

and guidance materials on the Fund’s 

Web site for more information on 

eligible matching funds.

4. Special Rule for Insured Credit 

Unions. Please note that the Interim 

Rule allows an Insured Credit Union to 

use retained earnings to serve as 

matching funds for an FA grant in an 

amount equal to: (i) The increase in 

retained earnings that have occurred 

over the Applicant’s most recent fiscal 

year; (ii) the annual average of such 

increases that have occurred over the 

Applicant’s three most recent fiscal 

years; or (iii) the entire retained 

earnings that have been accumulated 

since the inception of the Applicant or 

such other financial measure as may be 

specified by the Fund. For purposes of 

this NOFA, if option (iii) is used, the 

Applicant must increase its member 

and/or non-member shares or total loans 

outstanding by an amount that is equal 

to the amount of retained earnings that 

is committed as matching funds. This 

amount must be raised by April 30, 

2006, and will be based on amounts 

reported in the Applicant’s Audited or 

Reviewed Financial Statements or 

NCUA Form 5300 Call Report. 

IV. Application and Submission 

Information 

A. Form of Application Submission 

Applicants may submit applications 

under this NOFA either (i) partially 

electronically (via an Internet-based 

application) and partially in paper form 

or (ii) entirely in paper form. 

Applications sent by facsimile will not 

be accepted. Detailed application 

content requirements are found in the 

application related to this NOFA which 

may be found at the Fund’s Web site, 

http://www.cdfifund.gov. In order to 

expedite application review, the Fund 

requires advance notification for 

applications submitted entirely in paper 

form ((ii), above). If an applicant is 

unable to submit a partially electronic 

and partially paper application, it must 

submit to the Fund a request for a 

complete paper application using the 

FA Component Paper Application 

Notification Form; the request must be 

received by the Fund no later than 5 

p.m. ET on February 11, 2005. The 

Paper Application Notification Form 

may be obtained from the Fund’s Web 

site at http://www.cdfifund.gov or the 

form may be requested by e-mail to 

paper_request@cdfi.treas.gov or by 

facsimile to (202) 622–7754. The 

completed Paper Application 

Notification Form should be directed to 

the Fund’s Chief Information Officer 

and must be sent by facsimile to (202) 

622–7754. 

B. Paper Applications 

The Fund will send paper application 

materials to Applicants that are unable 

to download them from the Web site. To 

have application materials sent to you, 

contact the Fund by telephone at (202) 

622–6355; by e-mail at 

cdfihelp@cdfi.treas.gov; or by facsimile 

at (202) 622–7754. These are not toll 

free numbers. 

C. Application Content Requirements 

Detailed application content 

requirements are found in the FY 2005 

application and guidance. Please note 

that, pursuant to OMB guidance (68 FR 

38402), each Applicant must provide, as 

part of its application submission, a Dun 

and Bradstreet Data Universal 

Numbering System (DUNS) number. In 

addition, each application must include 

a valid and current Employer 

Identification Number (EIN), with a 

letter or other documentation from the 

Internal Revenue Service (IRS) 

confirming the Applicant’s EIN. 

Incomplete applications will be rejected 

and returned to the sender. 

D. MyCDFIFund Accounts 

All Applicants must register User and 

Organization accounts in myCDFIFund, 

the Fund’s Internet-based interface. 

Applicants must be registered as both a 

User and an Organization in 

myCDFIFund as of the application 

deadline in order to be considered to 

have submitted a complete application. 

As myCDFIFund is the Fund’s primary 

means of communication with 

Applicants and Awardees, organizations 

must make sure that they update the 

contact information in their 

myCDFIFund accounts. For more 

information on myCDFIFund, please see 

the ‘‘Frequently Asked Questions’’ link 

posted at https://www.cdfifund.gov/

myCDFI/Help/Help.asp.

E. Application Submission Dates and 

Times; Addresses 

Applicants must submit all materials 

described in and required by the 

application by the applicable deadline. 

Applicants will not be afforded an 

opportunity to provide any missing 

materials or documentation after the 

deadline. 

1. Electronic Submissions: Electronic 

submission of certain parts of the 

application (as described in the 

application) must be received by the 

Fund via the Applicant’s myCDFIFund 

account and in accordance with the 

instructions provided on the Fund’s 

Web site, by 5 p.m. ET on February 24, 

2005. In addition, the required paper 

portions of the application (including 

the original signature page, a DUNS 

number, a letter or other documentation 

from the Internal Revenue Service 

confirming the Applicant’s EIN, and all 

other required paper portions) must be 

received at the address set forth below 

by 5 p.m. ET on February 24, 2005. 

Paper portions of the application must 

be sent to: CDFI Fund Grants 

Management and Compliance Manager, 

FA Component, Bureau of Public Debt, 

200 Third Street, Room 10, Parkersburg, 

WV 26101. The telephone number to be 

used in conjunction with overnight 

delivery or mailings to this address is 

(304) 480–5450. Paper portions received 

in the Fund’s offices will be rejected 

and returned to the sender. Paper 

portions must be submitted in the 

format and number of copies specified 

in the application instructions. 

2. Paper submissions: A complete 

paper application must be received at 

the address set forth below by 5 p.m. ET 

on February 24, 2005, and must include 

an original signature page (which 

includes a DUNS number), a letter or 

other documentation from the Internal 

Revenue Service confirming the 

Applicant’s EIN, and all other required 

paper attachments. Paper applications 

must be submitted in the format and 

with the number of copies specified in 

the application instructions. Paper 

applications must be sent to: CDFI Fund 

Grants Management and Compliance 

Manager, FA Component, Bureau of 

Public Debt, 200 Third Street, Room 10, 

Parkersburg, WV 26101. The telephone 

65252 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

number to be used in conjunction with 

overnight delivery or mailings to this 

address is (304) 480–5450. Paper 

applications received in the Fund’s 

offices will be rejected and returned to 

the sender.

1. Late Delivery: The Fund will not 

grant exceptions or waivers for late 

delivery of documents including, but 

not limited to, late delivery that is 

caused by third parties such as the 

United States Postal Service, couriers or 

overnight delivery services. 

D. Intergovernmental Review 

Not applicable. 

E. Funding Restriction 

For allowable uses of FA award 

proceeds, please see the Interim Rule at 

12 CFR 1805.301. 

V. Application Review Information 

A. Criteria 

The Fund will evaluate each 

application using numeric scores with 

respect to the following three sections: 

1. Market Need and Community 

Development Performance Section,

including an evaluation of Market Need, 

Product Design and Implementation 

Strategy, and Community Development 

Performance/Impact: 

(a) Market Need: including: (i) The 

Applicant’s understanding of its market 

and its current and prospective 

customers; (ii) the extent of economic 

distress within the designated 

Investment Area(s), including economic 

distress caused by severe natural 

disasters in an Investment Area(s) that 

has been declared to be a Major Disaster 

area by the Federal Emergency 

Management Agency (see http://

www.fema.gov) or an equivalent State or 

local agency, or the extent of need 

within the designated Targeted 

Population(s); (iii) the extent of need for 

Equity Investments, loans, Development 

Services, and Financial Services within 

the designated Target Market; (iv) the 

extent of demand within the Target 

Market for the Applicant’s products and 

services; and (v) the Applicant’s 

business strategy for addressing demand 

through its Equity Investments, loans, 

Development Services, and Financial 

Services. The Fund, in its sole 

discretion, may reduce the score and/or 

amount of funding of an Applicant that 

serves a Target Market that is well 

served by one or more other CDFIs that 

have received awards from the Fund if 

the Applicant, in the Fund’s 

determination, does not adequately 

demonstrate a distinct market niche not 

served by other local CDFIs. 

(i) Priority points for Hot Zones: The 

Fund will award priority points in the 

Market Need subsection as follows:

If the Applicant projects that the following percentage of its activities will be in one or more Hot Zones 

Then it will receive

the following percentage

of priority points 

75 percent or more ......................................................................................................................................................... 100 percent. 

50 percent to less than 75 percent ................................................................................................................................ 75 percent. 

25 percent to less than 50 percent ................................................................................................................................ 50 percent. 

10 percent to less than 25 percent ................................................................................................................................ 25 percent. 

For purposes of this NOFA, Hot Zones 

are subsets of Investment Areas that are 

identified and further described (along 

with the Fund’s methodology for Hot 

Zone designation) at the Fund’s Web 

site at http://www.cdfifund.gov.

(ii) Priority points for severe economic 

distress and unmet need in nonMetropolitan markets: The Fund will 

award priority points in the Market 

Need subsection to an Applicant that 

proposes to deploy a substantial 

majority of the requested FA award in 

one or more non-Metropolitan markets 

in which it demonstrates quantitative 

and/or qualitative evidence of severe 

economic distress and unmet need for 

Financial Products and Financial 

Services. The Priority Points will be 

allocated as follows:

If the Applicant projects that the following percentage of its activities will be in one or markets meeting the criteria 

in this sub-section 

Then it will receive

the following percentage

of priority points 

75 percent or more ......................................................................................................................................................... 100 percent. 

50 percent to less than 75 percent ................................................................................................................................ 75 percent. 

25 percent to less than 50 percent ................................................................................................................................ 50 percent. 

10 percent to less than 25 percent ................................................................................................................................ 25 percent. 

(b) Product Design and 

Implementation Strategy: including: (i) 

An assessment of the Applicant’s 

products and services, marketing and 

outreach efforts, and delivery strategy 

(including the Applicant’s track record 

in community development and serving 

the Target Market); (ii) the extent to 

which the Applicant will provide 

products that meet key community 

development needs; and (iii) the extent, 

quality and nature of coordination with 

other Financial Service providers, 

government agencies, and other key 

community development participants. 

(c) Community Development 

Performance/Impact: including: (i) The 

Applicant’s track record and the 

likelihood of its projections for 

community development impact, 

including the extent to which the 

Applicant will concentrate its activities 

on serving its Target Market, and the 

extent to which the activities proposed 

in the Comprehensive Business Plan 

will expand economic opportunities or 

promote community development 

within the designated Target Market; (ii) 

likely effectiveness of the proposed use 

of Fund dollars, including the 

following: (A) an evaluation of the 

Applicant’s effective use of prior Fund 

awards; (B) the Applicant’s need for the 

requested FA award to achieve the 

activities proposed in its application; 

and (C) the impact of the Applicant’s 

projected activities; and (iii) the 

Applicant’s track record and projected 

level of deployment of resources in the 

form of Financial Products. 

(d) Additional considerations: (i) in 

the case of an Applicant that has 

previously received funding from the 

Fund through the BEA Program, CDFI 

Program, the NACD Program, the 

NACTA Program or the NACA Program, 

the Fund will consider the extent and 

Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 65253

effectiveness to which the Applicant has 

used such prior assistance from the 

Fund and the community development 

impact that will be created with new 

Fund assistance over and above benefits 

created by prior Fund assistance. (ii) the 

Fund will take into consideration the 

Community Reinvestment Act (CRA) 

rating of any Applicant that is an 

Insured Depository Institution or 

Depository Institution Holding 

Company. The Fund will not approve a 

FA award to any Applicant that does 

not currently have at least a 

‘‘Satisfactory’’ CRA rating. 

2. Management and Underwriting 

Section, including an evaluation of: 

(a) Portfolio quality: the Applicant’s 

underwriting and portfolio quality; 

(b) Management controls: risk 

mitigation strategies and financial 

management; and

(c) Management team: The capacity, 

skills and experience of the Applicant’s 

management team as appropriate to 

deliver the proposed products and 

services and manage compliance with 

the Fund’s reporting requirements. An 

Applicant’s performance in reporting on 

prior awards with the Fund will be 

considered in evaluating management. 

3. Financial Health and Viability 

Section, including an evaluation of: 

(a) Financial track record: The 

Applicant’s liquidity and other elements 

of financial strength, including earnings 

and capital adequacy; 

(b) Financial projections: The 

Applicant’s projected financial health, 

including its ability to raise operating 

support from sources other than the 

Fund, and its capitalization strategy; 

and 

(c) Safety and Soundness: The Fund 

will not approve a FA award to any 

Insured Credit Union (other than a 

State-Insured Credit Union) or Insured 

Depository Institution Applicant that 

has a CAMEL rating that is higher than 

a ‘‘3’’ or for which its Appropriate 

Federal Banking Agency indicates it has 

safety and soundness concerns, unless 

the Appropriate Federal Banking 

Agency asserts, in writing, that: (i) An 

upgrade to a CAMEL 3 rating or better 

(or other improvement in status) is 

imminent and such upgrade is expected 

to occur not later than September 30, 

2005 or within such other time frame 

deemed acceptable by the Fund, or (ii) 

the safety and soundness condition of 

the Applicant is adequate to undertake 

the activities for which the Applicant 

has requested a FA award and the 

obligations of an Assistance Agreement 

related to such a FA award. 

B. Review and Selection Process 

All applications will be reviewed for 

eligibility and completeness. To be 

complete, the application must contain, 

at a minimum, all information described 

as required in the application form. An 

incomplete application will be rejected 

as incomplete and returned to the 

sender. The application of an Applicant 

that does not meet the eligibility 

requirements will be rejected. 

If determined to be eligible and 

complete, the Fund will conduct the 

substantive review of each application 

in accordance with the criteria and 

procedures described in the Interim 

Rule, this NOFA and the application 

and guidance. Each application will be 

reviewed and scored by multiple 

readers. Readers may include Fund staff 

and other experts in community 

development finance. As part of the 

review process, the Fund may contact 

the Applicant by telephone or through 

an on-site visit for the purpose of 

obtaining clarifying or confirming 

application information. The Applicant 

may be required to submit additional 

information to assist the Fund in its 

evaluation process. Such requests must 

be responded to within the time 

parameters set by the Fund. 

Category I/SECA and Category II/Core 

Applicants will be ranked separately. 

(i) Under Category I/SECA, the Market 

Need and Community Development 

Performance section will account for 50 

percent of the available points while the 

Management and Underwriting section 

and the Financial Health and Viability 

section will each account for 25 percent 

of the available points. Category I/SECA 

Applicants will be ranked based on the 

total scores of all three sections added 

together. 

(ii) Category II/Core Applicants must 

receive a score in both the Management 

and Underwriting Section and the 

Financial Health and Viability Section 

that is equal to 50 percent of the 

available points in each of those 

sections to be considered for funding. 

For Category II/Core Applicants that 

exceed this threshold, the Fund will use 

the Market Need and Community 

Development Performance scores to 

rank Applicants for selection for 

funding. 

For all applicants, the Fund will 

award funding in the order of the 

ranking. 

The Fund will consider the 

institutional and geographic diversity of 

Applicants in making its funding 

decisions. 

In the case of an Applicant that has 

previously received funding from the 

Fund through any Fund program, the 

Fund will consider and will deduct 

points for: (i) The Applicant’s 

noncompliance with any active award 

or award that terminated in calendar 

year 2004 (meaning the last fiscal year 

end on which the Awardee reported was 

in calendar year 2004), in meeting its 

performance goals, financial soundness 

covenants (if applicable), reporting 

deadlines and other requirements set 

forth in the assistance or award 

agreement(s) with the Fund during the 

Applicant’s two complete fiscal years 

prior to the application deadline of this 

NOFA (generally FY 2003 and 2004); 

and (ii) the Applicant’s failure to make 

timely loan payments to the Fund 

during the Applicant’s two complete 

fiscal years prior to the application 

deadline of this NOFA (if applicable). 

Additionally, the Fund may take into 

account performance on any prior 

Assistance Agreement as part of the 

overall assessment of the Applicant’s 

ability to carry out its Comprehensive 

Business Plan. All outstanding reports 

or compliance questions should be 

directed to the Grants Management and 

Compliance Manager by e-mail at 

gmc@cdfi.treas.gov; by telephone at 

(202) 622–8226; by facsimile at (202) 

622–6453; or by mail to CDFI Fund, 601 

13th Street, NW., Suite 200 South, 

Washington, DC 20005. The Fund will 

respond to reporting or compliance 

questions between the hours of 9 a.m. 

and 5 p.m. ET, starting the date of the 

publication of this NOFA through 

February 22, 2005. The Fund will not 

respond to reporting or compliance 

phone calls or e-mail inquiries that are 

received after 5 p.m. on February 22, 

2005 until after the funding application 

deadline of February 24, 2005.

The Fund will make a final funding 

determination based on the Applicant’s 

file, reviewer scores and 

recommendations, and the amount of 

funds available. In the case of Insured 

CDFIs, the Fund will take into 

consideration the views of the 

Appropriate Federal Banking Agencies; 

in the case of State-Insured Credit 

Unions, the Fund may consult with the 

appropriate State banking agencies (or 

comparable entity). 

Each Applicant will be informed of 

the Fund’s award decision either 

through a Notice of Award if selected 

for an award (see Notice of Award 

section, below) or written declination if 

not selected for an award. All 

Applicants that are not selected for 

awards based on reasons other than 

completeness or eligibility issues will be 

provided a written debriefing on the 

strengths and weaknesses of their 

applications. This feedback will be 

provided in a format and within a 

65254 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

timeframe to be determined by the 

Fund, based on available resources. The 

Fund will notify Awardees by e-mail 

using the addresses maintained in the 

Awardee’s myCDFIFund account (postal 

mailings will be used only in rare 

cases). 

The Fund reserves the right to change 

its eligibility and evaluation criteria and 

procedures, if the Fund deems it 

appropriate; if said changes materially 

affect the Fund’s award decisions, the 

Fund will provide information 

regarding the changes through the 

Fund’s Web site. 

There is no right to appeal the Fund’s 

award decisions. The Fund’s award 

decisions are final. 

VI. Award Administration Information 

A. Notice of Award 

The Fund will signify its selection of 

an Applicant as an Awardee by 

delivering a signed Notice of Award to 

the Applicant. The Notice of Award will 

contain the general terms and 

conditions underlying the Fund’s 

provision of assistance including, but 

not limited to, the requirement that the 

Awardee and the Fund enter into an 

Assistance Agreement. The Applicant 

must execute the Notice of Award and 

return it to the Fund. By executing a 

Notice of Award, the Awardee agrees 

that, if prior to entering into an 

Assistance Agreement with the Fund, 

information (including administrative 

error) comes to the attention of the Fund 

that either adversely affects the 

Awardee’s eligibility for an award, or 

adversely affects the Fund’s evaluation 

of the Awardee’s application, or 

indicates fraud or mismanagement on 

the part of the Awardee, the Fund may, 

in its discretion and without advance 

notice to the Awardee, terminate the 

Notice of Award or take such other 

actions as it deems appropriate. 

Moreover, by executing a Notice of 

Award, the Awardee agrees that, if prior 

to entering into an Assistance 

Agreement with the Fund, the Fund 

determines that the Awardee is in 

default of any Assistance Agreement 

previously entered into with the Fund, 

the Fund may, in its discretion and 

without advance notice to the Awardee, 

either terminate the Notice of Award or 

take such other actions as it deems 

appropriate. The Fund reserves the 

right, in its sole discretion, to rescind its 

award if the Awardee fails to return the 

Notice of Award, signed by the 

authorized representative of the 

Awardee, along with any other 

requested documentation, within the 

deadline set by the Fund. 

1. Failure to meet reporting 

requirements: If an Applicant or an 

entity that Controls the Applicant, is 

Controlled by the Applicant or shares 

common management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

under any Fund program and is not 

current on the reporting requirements 

set forth in the previously executed 

assistance, award or allocation 

agreement(s), as of the date of the Notice 

of Award, the Fund reserves the right, 

in its sole discretion, to delay entering 

into an Assistance Agreement and/or to 

delay making a disbursement of award 

proceeds, until said prior Awardee or 

allocatee is current on the reporting 

requirements in the previously executed 

assistance, award or allocation 

agreement(s). Please note that the Fund 

only acknowledges the receipt of reports 

that are complete. As such, incomplete 

reports or reports that are deficient of 

required elements will not be 

recognized as having been received. If 

said prior Awardee or allocatee is 

unable to meet this requirement within 

the timeframe set by the Fund, the Fund 

reserves the right, in its sole discretion, 

to terminate and rescind the Notice of 

Award and the award made under this 

NOFA. 

2. Pending resolution of 

noncompliance: If (i) an Applicant is a 

prior Fund Awardee or allocatee under 

any Fund program and has submitted 

complete and timely reports to the Fund 

that demonstrate noncompliance with a 

previous assistance, award or allocation 

agreement, and (ii) the Fund has yet to 

make a final determination regarding 

whether or not the entity is in default 

of its previous assistance, award of 

allocation agreement, then the Fund 

reserves the right, in its sole discretion, 

to delay entering into an Assistance 

Agreement and/or to delay making a 

disbursement of award proceeds, 

pending full resolution, in the sole 

determination of the Fund, of the 

noncompliance. Further, if (i) another 

entity that Controls the Applicant, is 

Controlled by the Applicant or shares 

common management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

under any Fund programand such entity 

has submitted complete and timely 

reports to the Fund that demonstrate 

noncompliance with a previous 

assistance, award or allocation 

agreement, and (ii) the Fund has yet to 

make a final determination as to 

whether the entity is in default of its 

previous assistance, award or allocation 

agreement, then the Fund reserves the 

right, in its sole discretion, to delay 

entering into an Assistance Agreement 

and/or to delay making a disbursement 

of award proceeds pending full 

resolution, in the sole determination of 

the Fund, of the noncompliance. If said 

prior Awardee or allocatee is unable to 

meet this requirement, the Fund 

reserves the right, in its sole discretion, 

to terminate and rescind the Notice of 

Award and the award made under this 

NOFA. 

3. Default status: If, at any time prior 

to entering into an Assistance 

Agreement under this NOFA, the Fund 

(i) has made a final determination that 

an Applicant that is a prior Fund 

Awardee or allocatee under any Fund 

program is in default of a previously 

executed assistance, award or allocation 

agreement(s), and (ii) has provided 

written notification of such 

determination to the Applicant, then the 

Fund reserves the right, in its sole 

discretion, to delay entering into an 

Assistance Agreement and/or to delay 

making a disbursement of award 

proceeds until said prior Awardee or 

allocatee has submitted a complete and 

timely report demonstrating full 

compliance with said agreement within 

a timeframe set by the Fund. Further, if, 

at any time prior to entering into an 

Assistance Agreement under this NOFA, 

the Fund (i) has made a final 

determination that another entity which 

Controls the Applicant or shares 

common management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

under any Fund program, and is in 

default of a previously executed 

assistance, award or allocation 

agreement(s) and (ii) has provided 

written notification of such 

determination to the defaulting entity, 

then the Fund reserves the right, in its 

sole discretion, to delay entering into an 

Assistance Agreement and/or to delay 

making a disbursement of award 

proceeds until said prior Awardee or 

allocatee has submitted a complete and 

timely report demonstrating full 

compliance with said agreement within 

a timeframe set by the Fund. If said 

prior Awardee or allocatee is unable to 

meet this requirement, the Fund 

reserves the right, in its sole discretion, 

to terminate and rescind the Notice of 

Award and the award made under this 

NOFA.

4. Termination in default: If, within 

the 12-month period prior to entering 

into an Assistance Agreement under this 

NOFA, the Fund (i) has made a final 

determination that an Applicant with a 

prior award or allocation has been 

terminated in default of such prior 

agreement and (ii) has provided written 

notification of such determination to 

Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 65255

such organization, the Fund reserves the 

right, in its sole discretion, to delay 

entering into an Assistance Agreement 

and/or delay making a disbursement of 

award proceeds under this NOFA. 

Further, if, within the 12-month period 

prior to entering into an Assistance 

Agreement under this NOFA, the Fund 

(i) has made a final determination that 

another entity which Controls the 

Applicant, is Controlled by the 

Applicant or shares common 

management officials with the 

Applicant (as determined by the Fund) 

is a prior Fund Awardee or allocatee 

under any Fund program, whose award 

or allocation terminated in default of 

such prior agreement(s), and (ii) has 

provided written notification of such 

determination to the defaulting entity, 

the Fund reserves the right, in its sole 

discretion, to delay entering into an 

Assistance Agreement and/or to delay 

making a disbursement of award 

proceeds. 

B. Assistance Agreement 

Each Applicant that is selected to 

receive an award under this NOFA must 

enter into an Assistance Agreement with 

the Fund prior to disbursement of award 

proceeds. The Assistance Agreement 

will set forth certain required terms and 

conditions of the award, which will 

include, but not be limited to: (i) The 

amount of the award; (ii) the type of 

award; (iii) the approved uses of the 

award; (iv) the approved Target Market 

to which the funded activity must be 

targeted; (v) performance goals and 

measures; and (vi) reporting 

requirements for all Awardees. 

Assistance Agreements under this 

NOFA will generally have three-year 

performance periods. 

The Fund reserves the right, in its sole 

discretion, to rescind its award if the 

Awardee fails to return the Assistance 

Agreement, signed by the authorized 

representative of the Awardee, and/or 

provide the Fund with any other 

requested documentation, within the 

deadlines set by the Fund. 

In addition to entering into an 

Assistance Agreement, each Awardee 

that receives an award either (i) in the 

form of a loan, equity investment, credit 

union shares/deposits, or secondary 

capital, in any amount, or (ii) a FA grant 

in an amount greater than $500,000, 

must furnish to the Fund an opinion 

from its legal counsel, the content of 

which will be specified in the 

Assistance Agreement, to include, 

among other matters, an opinion that 

the Awardee: (A) Is duly formed and in 

good standing in the jurisdiction in 

which it was formed and/or operates; 

(B) has the authority to enter into the 

Assistance Agreement and undertake 

the activities that are specified therein; 

and (C) has no pending or threatened 

litigation that would materially affect its 

ability to enter into and carry out the 

activities specified in the Assistance 

Agreement. Each other Awardee must 

provide the Fund with a good standing 

certificate (or equivalent 

documentation) from its state (or 

jurisdiction) of incorporation. 

C. Reporting 

1. Reporting requirements: The Fund 

will collect information, on at least an 

annual basis, from each Awardee 

including, but not limited to, an Annual 

Report that comprises the following 

components: (i) Financial Report; (ii) 

Institution Level Report; (iii) 

Transaction Level Report; (iv) Financial 

Status Report (for Awardees receiving 

TA); (v) Uses of Financial Assistance 

and Matching Funds Report; (vi) 

Explanation of Noncompliance (as 

applicable); and (vii) such other 

information as the Fund may require. 

Each Awardee is responsible for the 

timely and complete submission of the 

Annual Report, even if all or a portion 

of the documents actually is completed 

by another entity or signatory to the 

Assistance Agreement. If such other 

entities or signatories are required to 

provide Institution Level Reports, 

Transaction Level Reports, Financial 

Reports, or other documentation that the 

Fund may require, the Awardee is 

responsible for ensuring that the 

information is submitted timely and 

complete. The Fund reserves the right to 

contact such additional signatories to 

the Assistance Agreement and require 

that additional information and 

documentation be provided. The Fund 

will use such information to monitor 

each Awardee’s compliance with the 

requirements set forth in the Assistance 

Agreement and to assess the impact of 

the CDFI Program. The Institution Level 

Report and the Transaction Level Report 

must be submitted through the Fund’s 

Web-based data collection system, the 

Community Investment Impact System 

(CIIS). The Financial Report may be 

submitted through CIIS, or by fax or 

mail to the Fund. All other components 

of the Annual Report may be submitted 

to the Fund in paper form or other form 

to be determined by the Fund. The Fund 

reserves the right, in its sole discretion, 

to modify these reporting requirements 

if it determines it to be appropriate and 

necessary; however, such reporting 

requirements will be modified only after 

notice to Awardees. 

2. Accounting: The Fund will require 

each Awardee that receives FA and TA 

awards through this NOFA to account 

for and track the use of said FA and TA 

awards. This means that for every dollar 

of FA and TA awards received from the 

Fund, the Awardee will be required to 

inform the Fund of its uses. This will 

require Awardees to establish separate 

administrative and accounting controls, 

subject to the applicable OMB Circulars. 

The Fund will provide guidance to 

Awardees outlining the format and 

content of the information to be 

provided on an annual basis, outlining 

and describing how the funds were 

used. Each Awardee that receives a FA 

award must establish a separate bank 

account for the FA funds and provide 

the Fund with the required complete 

and accurate Automated Clearinghouse 

(ACH) form for that separate bank 

account prior to award closing and 

disbursement.

VII. Agency Contacts 

The Fund will respond to questions 

and provide support concerning this 

NOFA and the funding application 

between the hours of 9 a.m. and 5 p.m. 

ET, starting the date of the publication 

of this NOFA through February 22, 

2005. The Fund will not respond to 

questions or provide support concerning 

the application that are received after 5 

p.m. ET on February 22, 2005, until 

after the funding application deadline of 

February 24, 2005. Applications and 

other information regarding the Fund 

and its programs may be obtained from 

the Fund’s Web site at http://

www.cdfifund.gov. The Fund will post 

on its Web site responses to questions 

of general applicability regarding the 

CDFI Program. 

A. Information Technology Support 

Technical support can be obtained by 

calling (202) 622–2455 or by e-mail at 

ithelpdesk@cdfi.treas.gov. People who 

have visual or mobility impairments 

that prevent them from creating an 

Investment Area map using the Fund’s 

Web site should call (202) 622–2455 for 

assistance. These are not toll free 

numbers. 

B. Programmatic Support 

If you have any questions about the 

programmatic requirements of this 

NOFA, contact the Fund’s Program 

Operations Manager by e-mail at 

cdfihelp@cdfi.treas.gov, by telephone at 

(202) 622–6355, by facsimile at (202) 

622–7754, or by mail at CDFI Fund, 601 

13th Street, NW., Suite 200 South, 

Washington, DC 20005. These are not 

toll-free numbers. 

C. Administrative Support 

If you have any questions regarding 

the administrative requirements of this 

65256 Federal Register / Vol. 69, No. 217 / Wednesday, November 10, 2004 / Notices 

NOFA, including questions regarding 

submission requirements, contact the 

Fund’s Grants Management and 

Compliance Manager by e-mail at 

gmc@cdfi.treas.gov, by telephone at 

(202) 622–8226, by facsimile at (202) 

622–6453, or by mail at CDFI Fund, 601 

13th Street, NW., Suite 200 South, 

Washington, DC 20005. These are not 

toll free numbers. 

D. Legal Counsel Support 

If you have any questions or matters 

that you believe require response by the 

Fund’s Office of Legal Counsel, please 

refer to the document titled ‘‘How to 

Request a Legal Review,’’ found on the 

Fund’s Web site at

http://www.cdfifund.gov.

E. Communication With the CDFI Fund 

The Fund will use its myCDFIFund 

Internet interface to communicate with 

Applicants and Awardees under this 

NOFA. Applicants must register through 

myCDFIFund in order to submit a 

complete application for funding. 

Awardees must use myCDFIFund to 

submit required reports. The Fund will 

notify Awardees by e-mail using the 

addresses maintained in each Awardee’s 

myCDFIFund account. Therefore, the 

Awardee and any Subsidiaries, 

signatories, and Affiliates must maintain 

accurate contact information (including 

contact person and authorized 

representative, e-mail addresses, fax 

numbers, phone numbers, and office 

addresses) in their myCDFIFund 

account(s). For more information about 

myCDFIFund, please see the Help 

documents posted at https://

www.cdfifund.gov/myCDFI/Help/

Help.asp.

VIII. Information Sessions and 

Outreach 

In connection with the Fiscal Year 

2005 funding round, the Fund may 

conduct Information Sessions to 

disseminate information to 

organizations contemplating applying 

to, and other organizations interested in 

learning about, the Fund’s programs. 

For further information on the Fund’s 

Information Sessions, dates and 

locations, or to register to attend an 

Information Session, please visit the 

Fund’s Web site at http://

www.cdfifund.gov or call the Fund at 

(202) 622–9046.

Authority: 12 U.S.C. 4703, 4703 note, 4704, 

4706, 4707, 4717; 12 CFR part 1805.

Dated: November 2, 2004. 

Arthur A. Garcia, 

Director, Community Development Financial 

Institutions Fund.

[FR Doc. 04–24986 Filed 11–9–04; 8:45 am] 

BILLING CODE 4810–70–P