[Federal Register Volume 74, Number 80 (Tuesday, April 28, 2009)]
[Notices]
[Pages 19275-19283]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-9633]


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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Funds Availability (NOFA) Inviting Applications for the 
Supplemental FY 2009 Funding Round of the Community Development 
Financial Institutions (CDFI) Program

    Announcement Type: Announcement of funding opportunity.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
    Dates: Applications for Financial Assistance (FA) awards through 
the Supplemental FY 2009 Funding Round of the CDFI Program must be 
received by 5 p.m. et, Wednesday, May 27, 2009.
    Executive Summary: For FY 2009, the Community Development Financial 
Institutions Fund (the Fund), an office within the Department of the 
Treasury, will conduct its CDFI Program funding round in two 
components: (i) the Initial FY 2009 Funding Round, as set forth in the 
NOFA published on August 15, 2008 (73 Federal Register 48011), and the 
Fund's Recovery Act Implementation Plan, issued on March 18, 2009 
pursuant to the American Recovery and Reinvestment Act of 2009 (Pub. L. 
111-5, Division A, Title V) (hereafter, the Recovery Act), and (ii) the 
Supplemental FY 2009 Funding Round, as set forth in this NOFA. 
Together, the two components comprise the FY 2009 Funding Round of the 
CDFI Program.

I. Funding Opportunity Description

    A. Through the CDFI Program, the Fund provides: (i) FA awards to 
CDFIs that have Comprehensive Business Plans for creating demonstrable 
community development impact through the deployment of credit, capital, 
and financial services within their respective Target Markets or the 
expansion into new Investment Areas, Low-Income Targeted Populations, 
or

[[Page 19276]]

Other Targeted Populations, and (ii) technical assistance (TA) grants 
to CDFIs and entities proposing to become CDFIs in order to build their 
capacity to better address the community development and capital access 
needs of their existing or proposed Target Markets and/or to become 
certified CDFIs.
    B. The regulations governing the CDFI Program are found at 12 CFR 
Part 1805 (the Regulations) and provide guidance on evaluation criteria 
and other requirements of the CDFI Program. The Fund encourages 
Applicants to review the Regulations. Detailed application content 
requirements are found in the applicable funding application and 
related guidance materials. Each capitalized term in this NOFA is more 
fully defined in the Regulations, the application, or the guidance 
materials.
    C. 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 re-allocate 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.

II. Award Information

    A. Funding Availability: Through this NOFA, and subject to funding 
availability, the Fund expects that it may award approximately $55 
million in appropriated funds in the form of FA-only awards to Category 
I/SECA and Category II/Core Applicants. The Fund reserves the right to 
award in excess of $55 million in appropriated funds to Applicants in 
the Supplemental FY 2009 Funding Round, provided that the funds are 
available and the Fund deems it appropriate.
    B. Types of Awards: Funding for the Supplemental FY 2009 Funding 
Round is limited to FA awards only; FA awards will be made only in the 
form of grants. FA awards are intended to provide flexible financial 
support to CDFIs so that they may achieve the strategies outlined in 
their Comprehensive Business Plans. FA awards can be used in the 
following four categories: (i) Financial Products, (ii) Loan Loss 
Reserves, (iii) Capital Reserves, and/or (iv) Operations. For purposes 
of this NOFA, Financial Products means loans, grants, equity 
investments and similar financing activities, including the purchase of 
loans originated by certified CDFIs and the provision of loan 
guarantees, in the Applicant's Target Market, or for related purposes 
that the Fund deems appropriate. Loan Loss Reserves means funds that 
the Applicant will set aside in the form of cash, or through 
accounting-based accrual, reserves to cover losses on loans, accounts 
and notes receivable made in its Target Market, or for related purposes 
that the Fund deems appropriate. Capital Reserves means funds that the 
Applicant will set aside in the form of reserves to support the 
Applicant's ability to leverage other capital, for such purposes as 
increasing its net assets or serving the financing needs of its Target 
Market, or for related purposes that the Fund deems appropriate. FA 
awards used for Operations refer to funds that the Applicant will use 
to undertake Development Services, Financial Services, and/or related 
purposes that the Fund deems appropriate. FA awards are most commonly 
used for an Applicant's Financial Products since FA funds can be used 
to support the Applicant's community development lending activities.
    The Fund reserves the right, in its sole discretion, to provide a 
FA award in an amount other than that which the Applicant requests; 
however, the award amount will not exceed the Applicant's award request 
as stated in its Application.
    C. Notice of Award; Assistance Agreement: Each Awardee under this 
NOFA must sign a Notice of Award and an Assistance Agreement in order 
to receive a disbursement of award proceeds by the Fund. The Notice of 
Award and the Assistance Agreement contain the terms and conditions of 
the award. For further information, see Sections VI.A and VI.B of this 
NOFA.

III. Eligibility Information

    A. Eligible Applicants: The Regulations specify 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. Any Certified or Certifiable CDFI that did not apply in the 
Initial FY 2009 Funding Round is eligible to apply for a FA award under 
the Supplemental FY 2009 Funding Round, as set forth in this NOFA. For 
eligibility criteria applicable to entities that submitted applications 
under the Initial FY 2009 Funding Round, see Section III.A.2., below.
    2. Eligibility of Initial FY 2009 Funding Round Applicants:
    (a) Any Applicant that submitted an application under the Initial 
FY 2009 Funding Round will automatically be considered for funding 
through the Supplemental FY 2009 Funding Round, so long as the 
Applicant: (i) Submitted an application for FA or FA/TA under the 
Initial FY 2009 Funding Round prior to the October 29, 2008 application 
deadline, and (ii) did not receive notification from either Grants.gov 
or the CDFI Fund that its application was declined, rejected, 
ineligible, or fatally incomplete. Such an Applicant does not need to 
submit a new application for an award through the Supplemental FY 2009 
Funding Round: meaning, the application that such an Applicant 
submitted for the Initial FY 2009 Funding Round will be considered by 
the Fund for an award under the Supplemental FY 2009 Funding Round. 
Please note, however, that any Applicant that receives a FA award under 
the Initial FY 2009 Funding Round may not also receive a FA award under 
the Supplemental FY 2009 Funding Round.
    (b) An Applicant that applied for FA or FA/TA under the Initial FY 
2009 Funding Round whose application was submitted after the October 
29, 2008 application deadline, or that received notification from 
Grants.gov or the CDFI Fund that its application was declined, 
rejected, ineligible, or fatally incomplete must submit a new 
application under this NOFA in order to be eligible for funding in the 
Supplemental FY 2009 Funding Round: Meaning, the application that such 
an Applicant submitted for the Initial FY 2009 Funding Round will not 
be considered for an award under the Supplemental FY 2009 Funding 
Round.
    (c) An Applicant that submitted an application for TA-Only under 
the Initial FY 2009 Funding Round must submit an application under this 
NOFA to be eligible for FA funding in the Supplemental FY 2009 Funding 
Round.
    3. FA Applicant Categories: All Applicants for FA awards through 
this NOFA must meet the criteria for one of the following two 
categories:

[[Page 19277]]



                                         Table 1--FA Applicant Criteria
----------------------------------------------------------------------------------------------------------------
                                                                  Applicant may apply
        FA Applicant  category            Applicant criteria              for:            Application  deadline
----------------------------------------------------------------------------------------------------------------
Category I/Small and/or Emerging CDFI  (1) Is a Certified/      Up to and including      5 p.m. ET, Wednesday,
 Assistance (SECA).                     Certifiable CDFI;        $600,000 in FA funds.    May 27, 2009.
                                       (2) Has total assets,
                                        as of the end of the
                                        Applicant's most
                                        recent fiscal year end
                                        or March 31, 2009, as
                                        follows:.
                                          <bullet> Insured
                                           Depository
                                           Institutions and
                                           Depository
                                           Institution Holding
                                           Companies: Up to
                                           $250 million.
                                          <bullet> Insured
                                           Credit Unions: Up
                                           to $10 million.
                                          <bullet> Venture
                                           capital funds: Up
                                           to $10 million.
                                          <bullet> Other
                                           CDFIs: Up to $5
                                           million; or.
                                       (3) Began operations on
                                        or after January 1,
                                        2005; and
                                       (4) Prior to the
                                        application deadline,
                                        has not been selected
                                        to receive in excess
                                        of $500,000 in FA
                                        award(s) in the
                                        aggregate from the
                                        CDFI Program or Native
                                        Initiatives Funding
                                        Programs.
Category II/Core.....................  A Certified/Certifiable  Up to and including $2   5 p.m. ET, Wednesday,
                                        CDFI that meets all      million in FA funds.     May 27, 2009.
                                        other eligibility        However, the amount of
                                        requirements described   FA funds awarded may
                                        in this NOFA.            be reduced by the
                                                                 amount of any TA
                                                                 awards received by an
                                                                 Awardee in the Initial
                                                                 FY 2009 Funding Round.
----------------------------------------------------------------------------------------------------------------


    Please note:  (1) The Fund reserves the right, in its sole 
discretion, to award amounts in excess of or less than the 
anticipated maximum award amounts permitted in this NOFA, if the 
Fund deems it appropriate. (2) Any Applicant that requests FA 
funding in excess of $600,000 is classified as a Category II/Core 
Applicant, regardless of its total assets, years in operation, or 
prior Fund awards. (3) The term ``began operations'' is defined as 
the financing activity start date indicated in the Applicant's 
myCDFIFund account. (4) The term ``Native Initiatives Funding 
Programs'' refers to the Native American CDFI Assistance (NACA) 
Program and all prior Native American funding programs sponsored by 
the Fund, through which funds are no longer available, including the 
Native American CDFI Technical Assistance (NACTA) Component of the 
CDFI Program, the Native American CDFI Development (NACD) Program, 
and the Native American Technical Assistance (NATA) Component of the 
CDFI Program.

    4. CDFI Certification Requirements: For purposes of this NOFA, 
eligible FA Applicants include Certified CDFIs and Certifiable CDFIs, 
defined as follows:
    (a) Certified CDFIs: For purposes of this NOFA, a Certified CDFI is 
an entity that has received official notification from the Fund that it 
meets all CDFI certification requirements as of March 18, 2009, the 
certification of which has not expired and that has not been notified 
by the Fund that its certification has been terminated. Each such 
Applicant must submit a ``Certification of Material Event Form'' to the 
Fund not later than May 15, 2009.

    Please note: The Fund provided some CDFIs 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.

    (b) Certifiable CDFIs: For purposes of this NOFA, a Certifiable 
CDFI is an entity from which the Fund has received a complete CDFI 
Certification Application no later than March 18, 2009, evidencing that 
the Applicant meets the requirements to be certified as a CDFI.

    Please note: While a Certifiable CDFI may be conditionally 
selected for a FA award (as evidenced through the Notice of Award), 
the Fund will not enter into an Assistance Agreement or disburse 
award funds unless and until the Fund has officially certified the 
organization as a CDFI. If the Fund is unable to certify the 
organization as a CDFI based on the CDFI certification application 
that the organization submits to the Fund, the Notice of Award may 
be terminated and the award commitment may be cancelled, in the sole 
discretion of the Fund.

    5. Limitation on Awards: An Applicant may receive only one FA award 
through the FY 2009 Funding Round of the CDFI Program; meaning, any 
Applicant that receives a FA award under the Initial FY 2009 Funding 
Round may not also receive a FA award under the Supplemental FY 2009 
Funding Round. Further, the amount of a FA award made through the 
Supplemental FY 2009 Funding Round will be reduced by the amount of any 
TA award received by an Awardee in the Initial FY 2009 Funding Round. A 
CDFI Program Applicant, its Subsidiaries or Affiliates also may apply 
for and receive a tax credit allocation through the New Markets Tax 
Credit (NMTC) Program, but only to the extent that the activities 
approved for CDFI Program awards are different from those activities 
for which the Applicant receives a NMTC Program allocation.
    6. Waiver of General Applicability for FY 2009 BEA Program 
Applicants: For the purposes of the Supplemental FY 2009 Funding Round 
of the CDFI Program, the Fund hereby waives the requirements of 12 CFR 
1805.102(a)(1)(i). All other requirements of 12 CFR 1805.102 remain in 
effect. Therefore, an Applicant may receive a FY 2009 Bank Enterprise 
Award (BEA) Program award if it has a CDFI Program application pending 
in the Supplemental FY 2009 Funding Round of the CDFI Program subject 
to the limitations of 12 CFR 1806.102.
    7. Contacting the Fund. The CDFI Certification Application and 
other information regarding CDFI certification may be obtained from the 
Fund's Web site at http://www.cdfifund.gov.
    B. Prior Awardees: Applicants must be aware that success in a prior 
round

[[Page 19278]]

of any of the Fund's programs is not indicative of success under this 
NOFA. For purposes of this section, the Fund will consider an Affiliate 
to be any entity that meets the definition of Affiliate in the 
Regulations or any entity otherwise identified as an Affiliate by the 
Applicant in its funding Application under this NOFA. Prior Awardees 
should note the following:
    1. $5 million funding cap: Pursuant to the Recovery Act, the $5 
million dollar funding cap is waived for the FY 2009 Funding Round of 
the CDFI Program.
    2. Failure to meet reporting requirements: The Fund will not 
consider an application submitted by an Applicant if the Applicant, or 
an Affiliate of the Applicant is a prior Fund Awardee or allocatee 
under any Fund program and is not current on the reporting requirements 
set forth in a previously executed assistance, allocation or award 
agreement(s), as of the applicable 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.
    3. Pending resolution of noncompliance: If an Applicant is a prior 
Awardee or allocatee under any Fund program and if: (i) It has 
submitted complete and timely reports to the Fund that demonstrate 
noncompliance with a previous assistance, allocation, or award 
agreement; and (ii) the Fund has yet to make a final determination as 
to whether the entity is in default of its previous assistance, 
allocation, or award agreement, the Fund will consider the Applicant's 
application under this NOFA pending full resolution, in the sole 
determination of the Fund, of the noncompliance. Further, if an 
Affiliate of the Applicant is a prior Fund Awardee or allocatee and if 
such entity: (i) Has submitted complete and timely reports to the Fund 
that demonstrate noncompliance with a previous assistance, allocation, 
or award agreement; and (ii) the Fund has yet to make a final 
determination as to whether the entity is in default of its previous 
assistance, allocation, or award agreement, the Fund will consider the 
Applicant's application under this NOFA pending full resolution, in the 
sole determination of the Fund, of the noncompliance.
    4. 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 applicable application deadline of 
this NOFA, the Fund has made a final determination that such Applicant 
is in default of a previously executed assistance, allocation, or award 
agreement(s). Further, an entity is not eligible to apply for an award 
pursuant to this NOFA if, as of the applicable application deadline of 
this NOFA, the Fund has made a final determination that an Affiliate of 
the Applicant is a prior Fund Awardee or allocatee under any Fund 
program and has been determined by the Fund to be in default of a 
previously executed assistance, allocation, or award agreement(s). Such 
entities will be ineligible to apply for an award pursuant to this NOFA 
so long as the Applicant's, or its Affiliate's, prior award or 
allocation remains in default status or such other time period as 
specified by the Fund in writing.
    5. 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: (i) Within the 12-month period 
prior to the applicable application deadline of this NOFA, the Fund has 
made a final determination that such Applicant's prior award or 
allocation terminated in default of a previously executed assistance, 
allocation, or award agreement(s); and (ii) the final reporting period 
end date for the applicable terminated assistance, allocation, or award 
agreement(s) falls within the 12-month period prior to the application 
deadline of this NOFA. Further, an entity is not eligible to apply for 
an award pursuant to this NOFA if: (i) Within the 12-month period prior 
to the applicable application deadline, the Fund has made a final 
determination that an Affiliate of the Applicant is a prior Fund 
Awardee or allocatee under any Fund program whose award or allocation 
terminated in default of a previously executed assistance, allocation, 
or award agreement(s); and (ii) the final reporting period end date for 
the applicable terminated assistance, allocation, or award agreement(s) 
falls within the 12-month period prior to the application deadline of 
this NOFA.
    6. Undisbursed award funds: 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 
award funds (defined below) under said prior award(s), as of the 
applicable application deadline of this NOFA. Further, an entity is not 
eligible to apply for an award pursuant to this NOFA if an Affiliate of 
the Applicant is a prior Fund Awardee under any Fund program, and has a 
balance of undisbursed award funds under said prior award(s), as of the 
applicable application deadline of this NOFA. In a case where 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 award funds under said prior award(s), as of the 
applicable application deadline of this NOFA, the Fund will include the 
combined awards of the Applicant and such Affiliated entities when 
calculating the amount of undisbursed award funds.
    For purposes of the calculation of undisbursed award funds for the 
BEA Program, only awards made to the Applicant (and any Affiliates) 
three to five calendar years prior to the end of the calendar year of 
the application deadline of this NOFA are included (``includable BEA 
awards''). Thus, for purposes of this NOFA, undisbursed BEA Program 
award funds are the amount of FYs 2004, 2005, and 2006 awards that 
remain undisbursed as of the application deadline of this NOFA.
    For purposes of the calculation of undisbursed award funds for the 
CDFI Program and the Native Initiatives Funding Programs, only awards 
made to the Applicant (and any Affiliates) two to five calendar years 
prior to the end of the calendar year of this NOFA are included 
(``includable CDFI/NI awards''). Thus, for purposes of this NOFA, 
undisbursed CDFI Program and NI awards are the amount of FYs 2004, 
2005, 2006, and 2007 awards that remain undisbursed as of the 
application deadline of this NOFA.
    To calculate total includable BEA/CDFI/NI awards: amounts that are 
undisbursed as of the application deadline of this NOFA cannot exceed 
five percent (5%) of the total includable awards. Please refer to an 
example of this calculation on the Fund's Web site, found in the Q&A 
document for the FY 2009 Funding Round.
    The ``undisbursed award funds'' calculation does not include: (i) 
Tax credit allocation authority made available through the NMTC 
Program; (ii) any award funds for which the Fund received a full and 
complete disbursement request from the Awardee by the applicable 
application deadline of this NOFA; (iii) any award funds for an award 
that has been terminated in writing by the Fund or deobligated by the 
Fund; or (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 of ``undisbursed funds'' from prior 
awards to provide the Fund with a complete disbursement request at 
least 10

[[Page 19279]]

business days prior to the application deadline of this NOFA.
    7. Contacting the Fund: Applicants that are prior Fund Awardees are 
advised to: (i) Comply with requirements specified in assistance, 
allocation and/or award agreement(s), and (ii) contact the Fund to 
ensure that all necessary actions are underway for the disbursement or 
deobligation of any outstanding balance of said prior award(s). 
Disbursement questions should be directed to Grants Management via e-
mail to <a href="/cdn-cgi/l/email-protection#cea9bcafa0babda3afa0afa9aba3aba0ba8eadaaa8a7e0babcabafbde0a9a1b8"><span class="__cf_email__" data-cfemail="a1c6d3c0cfd5d2ccc0cfc0c6c4ccc4cfd5e1c2c5c7c88fd5d3c4c0d28fc6ced7">[email protected]</span></a>. Reporting and compliance 
questions should be directed to Compliance, Monitoring and Evaluation 
(CME) at (202) 622-6330 or by e-mail to <a href="/cdn-cgi/l/email-protection#99faf4fcd9fafdfff0b7edebfcf8eab7fef6ef"><span class="__cf_email__" data-cfemail="b2d1dfd7f2d1d6d4db9cc6c0d7d3c19cd5ddc4">[email protected]</span></a>. Telephone 
calls to Grants Management and Financial Management should be directed 
to (202) 622-8226; facsimiles to (202) 622-7754; and mail to CDFI Fund, 
601 13th Street, NW., Suite 200 South, Washington, DC 20005. The Fund 
will respond to Applicants' reporting, disbursement 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 May 25, 2009. The Fund will not 
respond to Applicants' reporting, disbursement or compliance phone 
calls or e-mail inquiries that are received after 5 p.m. ET on said 
date, until after the funding application deadline.
    C. Other Targeted Populations as Target Markets: Other Targeted 
Populations are defined as identifiable groups of individuals in the 
Applicant's service area for which there exists a strong basis of 
evidence that they lack access to loans, Equity Investments, and/or 
Financial Services. The Fund has determined that there is strong basis 
of 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 of evidence 
that Alaskan 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 above-cited 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. 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 Alaskan 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.
    D. Matching Funds: Pursuant to the Recovery Act, matching funds 
requirements have been waived for the FY 2009 Funding Round of the CDFI 
Program.

IV. Application and Submission Information

    A. Form of Application Submission: Applicants must submit 
applications under this NOFA electronically. Applications sent by mail, 
facsimile, or other form will not be permitted, except in circumstances 
that the Fund, in its sole discretion, deems acceptable.
    B. Applications Submitted via myCDFIFund: Applicants must submit 
applications under this NOFA electronically, through myCDFIFund, the 
Fund's internet-based interface. Please note that, for the Supplemental 
FY 2009 Funding Round, the Fund will not accept Applications through 
Grants.gov. Applications sent by mail, facsimile, or other form will 
generally not be accepted, except in circumstances approved by the 
Fund, in its sole discretion. The Fund will post to its Web site at 
www.cdfifund.gov instructions for accessing and submitting an 
Application as soon as they become available.
    C. Application Content Requirements: Detailed application content 
requirements are found in the application and guidance. Please note 
that, pursuant to OMB guidance (68 Federal Register 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. An 
electronic application that does not include an EIN is incomplete and 
cannot be transmitted to the Fund. Applicants should allow sufficient 
time for the IRS and/or Dun and Bradstreet to respond to inquiries and/
or requests for identification numbers. Once an application is 
submitted, the Applicant will not be allowed to change any element of 
the application. The preceding sentence does not limit the Fund's 
ability to contact an Applicant for the purpose of obtaining clarifying 
or confirming application information (such as a DUNS number or EIN 
information).
    D. MyCDFIFund Accounts: All Applicants must register User and 
Organization accounts in myCDFIFund, the Fund's Internet-based 
interface. An Applicant must be registered as both a User and an 
Organization in myCDFIFund as of the applicable 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 before the applicable 
application deadline. For more information on myCDFIFund, please see 
the ``Frequently Asked Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp.
    E. Under the Paperwork Reduction Act (44 U.S.C. chapter 35), an 
agency may not conduct or sponsor a collection of information, and an 
individual is not required to respond to a collection of information, 
unless it displays a valid OMB control number. Pursuant to the 
Paperwork Reduction Act, the Application has been assigned the 
following control number: 1559-0021.
    F. Application Deadlines: Applicants must submit all materials 
described in and required by the application by the applicable 
deadline.
    1. Application Deadlines: Applications must be received in 
accordance with this NOFA by the following deadlines:

[[Page 19280]]



                                     Table 2--FY 2009 CDFI Program Deadlines
                                            [All 5 p.m. ET deadlines]
----------------------------------------------------------------------------------------------------------------
         Application type             Application deadline              Last date to contact fund staff
----------------------------------------------------------------------------------------------------------------
CDFI Program Funding Application   Wednesday, May 27, 2009..  Monday, May 25, 2009.
 (FA) (Core/SECA).
----------------------------------------------------------------------------------------------------------------

    All funding applications must be electronic and submitted through 
myCDFIFund: No paper submittals or attachments will be accepted (please 
see the CDFI Certification Application for requirements specific to 
that application).
    2. Late Delivery: The Fund will neither accept a late application 
nor any portion of an application that is late; an application that is 
late, or for which any portion is late, will be rejected. The Fund will 
not grant exceptions or waivers. Any application that is deemed 
ineligible will not be returned to the Applicant.
    G. Intergovernmental Review: Not applicable.
    H. Funding Restrictions: For allowable uses of FA proceeds, please 
see the Regulations at 12 CFR 1805.301.

V. Application Review Information

    A. Format: Funding applications must be single-spaced and use a 12-
point font with 1-inch margins. Each section in the Application that is 
scored has page limitations. Applicants are encouraged to read each 
section carefully and to remain within the page limitations for each 
section. The Fund will not consider responses beyond the specified page 
limitation in each section. Also, the Fund will read only information 
requested in the Application and will not read attachments that have 
not been specifically requested in this NOFA or the Application, such 
as the Applicant's five-year strategic or marketing plans.
    B. Criteria: The Fund will evaluate each application on a 100-point 
scale using numeric scores with respect to the five sections required 
in the Application. The Fund will score each section as follows:

                  Table 3--Application Scoring Criteria
------------------------------------------------------------------------
            Application sections                    Scoring points
------------------------------------------------------------------------
Market Analysis............................  SECA-25
                                             Core-20.
Business Strategy..........................  SECA-25
                                             Core-20.
Community Development Performance &          SECA-20
 Effective Use.                              Core-20.
Management.................................  SECA-20
                                             Core-20.
Financial Health & Viability...............  SECA-10
                                             Core-20.
------------------------------------------------------------------------

    C. Review and Selection Process:
    1. Eligibility and Completeness Review: The Fund will review each 
application to determine whether it is complete and the Applicant meets 
the eligibility requirements set forth above. An incomplete application 
does not meet eligibility requirements and will be rejected. Any 
application that does not meet eligibility requirements will not be 
returned to the Applicant.
    2. Substantive Review: If an application is determined to be 
complete and the Applicant is determined to be eligible, the Fund will 
conduct the substantive review of the application in accordance with 
the criteria and procedures described in the Regulations, this NOFA, 
and the application and guidance. As part of the review process, the 
Fund may contact the Applicant by telephone, e-mail, mail, or through 
an on-site visit for the sole purpose of obtaining clarifying or 
confirming application information (such as statements of work, 
matching funds documentation, EINs, or DUNS numbers, for example). 
After submitting its application, the Applicant will not be permitted 
to revise or modify its application in any way nor attempt to negotiate 
the terms of an award. If contacted for clarifying or confirming 
information, the Applicant must respond within the time parameters set 
by the Fund.
    3. Application Scoring; Ranking:
    (a) Application Scoring: The Fund will evaluate each application on 
a 100-point scale, comprising the five criteria categories described 
above, and assign numeric scores. An Applicant must receive a minimum 
score in each evaluation criteria in order to be considered for an 
award.
    (b) Evaluating Prior Award Performance: 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 2009 in meeting its performance goals and 
measures, 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; (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); (iii) performance on 
any prior Assistance Agreement as part of the overall assessment of the 
Applicant's ability to carry out its Comprehensive Business Plan; and 
(iv) funds deobligated from a FY 2006, FY 2007, or FY 2008 FA award (if 
the Applicant is applying for a FA award under this NOFA) if (A) the 
amount of deobligated funds is at least $200,000 and (B) the 
deobligation occurred subsequent to the expiration of the period of 
award funds availability (generally, any funds deobligated after the 
September 30th following the year in which the award was made). Any 
award deobligations that result in a point deduction under an 
application submitted pursuant to either funding round of this NOFA 
will not be counted against any future application for FA through the 
CDFI Program. Furthermore, in the case of an Applicant that has 
previously received funding through any Fund program, the Fund will 
consider and may, in its discretion, deduct points for those Applicants 
that have in any proceeding instituted against the Applicant in, by, or 
before any court, governmental or administrative body or agency 
received a final determination within the last three (3) years 
indicating that the Applicant has discriminated on the basis of race, 
color, national origin, disability, age, marital status, receipt of 
income from public assistance, religion, or sex.
    (c) Ranking: The Fund then will rank the applications by their 
scores, from highest to lowest.
    4. Award Selection: The Fund will make its final award selections 
based on the rank order of Applicants by their scores and the amount of 
funds

[[Page 19281]]

available. Category I/SECA and Category II/Core Applicants will be 
ranked separately. In addition, the Fund shall consider the 
institutional and geographic diversity of Applicants when making its 
funding decisions.
    5. Insured CDFIs: In the case of Insured Depository Institutions 
and Insured Credit Unions, 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). 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 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) improvement in status is imminent and 
such improvement is expected to occur not later than September 30, 
2009, 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.
    6. Award Notification: 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. Each Applicant that is not selected for an 
award based on reasons other than completeness or eligibility issues 
will be provided a written debriefing on the strengths and weaknesses 
of its application. This feedback will be provided in a format and 
within a 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).
    7. The Fund reserves the right to reject an application if 
information (including administrative errors) comes to the attention of 
the Fund that either adversely affects an applicant's eligibility for 
an award, or adversely affects the Fund's evaluation or scoring of an 
application, or indicates fraud or mismanagement on the part of an 
Applicant. If the Fund determines that any portion of the application 
is incorrect in any material respect, the Fund reserves the right, in 
its sole discretion, to reject the application. 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 conditional selection 
of an Applicant as an Awardee by delivering a signed Notice of Award to 
the Applicant through its myCDFIFund account. 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, among other things, 
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, 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 or an Affiliate of 
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. For purposes of 
this section, the Fund will consider an Affiliate to mean any entity 
that meets the definition of Affiliate in the Regulations or any entity 
otherwise identified as an Affiliate by the Applicant in its funding 
Application under this NOFA.
    1. Failure to meet reporting requirements: If, after considering an 
Application, an Awardee, or an Affiliate of the Awardee that is a prior 
Fund Awardee or allocatee under any Fund program becomes not current on 
the reporting requirements set forth in the previously executed 
assistance, allocation, or award 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 until said prior Awardee 
or allocatee is current on the reporting requirements in any previously 
executed assistance, allocation, or award 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 an Applicant is a prior 
Awardee or allocatee under any Fund program and if: (i) It 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, the Fund reserves the right, in its sole 
discretion, to delay entering into an Assistance Agreement, pending 
full resolution, in the sole determination of the Fund, of the 
noncompliance. Further, if an Affiliate of the Awardee is a prior Fund 
Awardee or allocatee and if such entity: (i) 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, the 
Fund reserves the right, in its sole discretion, to delay entering into 
an Assistance Agreement, pending full resolution, in the sole 
determination of the Fund, of the noncompliance. If the prior Awardee 
or allocatee in question is unable to satisfactorily resolve the issues 
of noncompliance, in the sole determination of the Fund, the Fund 
reserves the right, in its sole discretion, to terminate and rescind 
the

[[Page 19282]]

Notice of Award and the award made under this NOFA.
    3. Default status: If, after considering an application and prior 
to entering into an Assistance Agreement through this NOFA, the Fund 
has made a final determination that an Awardee that is a prior Fund 
Awardee or allocatee under any Fund program is in default of a 
previously executed assistance, allocation, or award agreement(s), the 
Fund reserves the right, in its sole discretion, to delay entering into 
an Assistance Agreement, 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 through this 
NOFA, the Fund has made a final determination that an Affiliate of the 
Awardee is a prior Fund Awardee or allocatee under any Fund program and 
is in default of a previously executed assistance, allocation, or award 
agreement(s), the Fund reserves the right, in its sole discretion, to 
delay entering into an Assistance Agreement, 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 
and the Fund has not specified in writing that the prior Awardee or 
allocatee is otherwise eligible to receive an Award under this NOFA, 
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 (i) within the 12-month period prior 
to entering into an Assistance Agreement through this NOFA, the Fund 
has made a final determination that an Awardee is a prior Fund Awardee 
or allocatee under any Fund program whose award or allocation was 
terminated in default of such prior agreement; and (ii) the final 
reporting period end date for the applicable terminated agreement falls 
within the 12-month period prior to the application deadline of this 
NOFA, the Fund reserves the right, in its sole discretion, to delay 
entering into an Assistance Agreement. Further, if (i) within the 12-
month period prior to entering into an Assistance Agreement through 
this NOFA, the Fund has made a final determination that an Affiliate of 
the Awardee is a prior Fund Awardee or allocatee under any Fund program 
whose award or allocation was terminated in default of such prior 
agreement; and (ii) the final reporting period end date for the 
applicable terminated agreement falls within the 12-month period prior 
to the application deadline of this NOFA, the Fund reserves the right, 
in its sole discretion, to delay entering into an Assistance Agreement.
    5. Deobligated awards: An Awardee that receives a FA award pursuant 
to this NOFA for which an amount over $200,000 is deobligated by the 
Fund subsequent to the expiration of the period of award funds 
availability (generally, any funds deobligated after the September 30th 
following the year in which the award was made) but within the 12 
months prior to the application deadline, may not apply for a new award 
through the NOFA for another CDFI Fund program funding round after the 
date of said deobligation.
    6. Compliance with Federal Anti-Discrimination Laws: If the Awardee 
has previously received funding through any Fund program, and if at any 
time prior to entering into an Assistance Agreement through this NOFA, 
the Fund is made aware of a final determination, made within the last 
three (3) years, in any proceeding instituted against the Awardee in, 
by, or before any court, governmental, or administrative body or 
agency, declaring that the Awardee has discriminated on the basis of 
race, color, national origin, disability, age, marital status, receipt 
of income from public assistance, religion, or sex, the Fund reserves 
the right, in its sole discretion, to terminate and rescind the Notice 
of Award and the award made under this NOFA.
    B. Assistance Agreement: Each Applicant that is selected to receive 
an award under this NOFA must enter into an Assistance Agreement with 
the Fund in order to receive 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 eligible market to which the 
funded activity must be targeted; (v) performance goals and measures; 
and (vi) reporting requirements for all Awardees. FA-only Assistance 
Agreements under this NOFA generally will have three-year performance 
periods.
    The Fund reserves the right, in its sole discretion, to terminate 
the Notice of Award and rescind an 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.
    Each FA Awardee must provide the Fund with a certificate of good 
standing (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 
Reports (including an OMB A-133 audit, as applicable); (ii) Institution 
Level Report; (iii) Transaction Level Report (for Awardees receiving FA 
awards); (iv) Uses of Financial Assistance Report (for Awardees 
receiving FA awards); (v) Explanation of Noncompliance (as applicable); 
and (vi) 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 entities or 
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. All other components of the 
Annual Report may be submitted electronically, as directed, 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 a 
FA award through this NOFA to account for and track the use of said FA 
award. This means that for every dollar of a FA award received from the 
Fund, the Awardee will be required to inform the Fund of its uses. This 
will require

[[Page 19283]]

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 an award must provide the Fund 
with the required complete and accurate Automated Clearinghouse (ACH) 
form for its bank account prior to award closing and disbursement.

VII. Agency Contacts

    A. 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 May 25, 2009. The Fund will not respond to questions or provide 
support concerning the application that are received after 5 p.m. ET on 
said dates, until after the respective funding application deadline. 
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.
    B. The Fund's contact information is as follows:

                                          Table 4--Contact Information
----------------------------------------------------------------------------------------------------------------
                                      Telephone number
         Type of question             (not toll free)                        E-mail addresses
----------------------------------------------------------------------------------------------------------------
                                    Fax number for all offices: 202-622-7754
----------------------------------------------------------------------------------------------------------------
Information Technology/Technical           202-622-2455  <a href="/cdn-cgi/l/email-protection#f59c819d9099859190869eb59691939cdb8187909486db929a83"><span class="__cf_email__" data-cfemail="1e776a767b726e7a7b6d755e7d7a7877306a6c7b7f6d30797168">[email protected]</span></a>.
 Support.
CDFI Program......................         202-622-6355  <a href="/cdn-cgi/l/email-protection#afcccbc9c6c7cac3dfefcccbc9c681dbddcacedc81c8c0d9"><span class="__cf_email__" data-cfemail="93f0f7f5fafbf6ffe3d3f0f7f5fabde7e1f6f2e0bdf4fce5">[email protected]</span></a>.
CDFI Certification................         202-622-6355  <a href="/cdn-cgi/l/email-protection#95f6f1f3fcfdf0f9e5d5f6f1f3fcbbe1e7f0f4e6bbf2fae3"><span class="__cf_email__" data-cfemail="f29196949b9a979e82b29196949bdc8680979381dc959d84">[email protected]</span></a>.
Grants Management.................         202-622-8226  <a href="/cdn-cgi/l/email-protection#701702111e04031d111e1117151d151e0430131416195e04021511035e171f06"><span class="__cf_email__" data-cfemail="8fe8fdeee1fbfce2eee1eee8eae2eae1fbcfecebe9e6a1fbfdeaeefca1e8e0f9">[email protected]</span></a>.
Compliance, Monitoring and                 202-622-6330  <a href="/cdn-cgi/l/email-protection#4a29272f0a292e2c23643e382f2b39642d253c"><span class="__cf_email__" data-cfemail="d4b7b9b194b7b0b2bdfaa0a6b1b5a7fab3bba2">[email protected]</span></a>.
 Evaluation.
----------------------------------------------------------------------------------------------------------------

    C. Information Technology Support: People who have visual or 
mobility impairments that prevent them from creating a Target Market 
map using the Fund's Web site should call (202) 622-2455 for assistance 
(this is not a toll free number).
    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. Further, if 
you wish to review the Assistance Agreement form document from a prior 
funding round, you may find it posted on the Fund's Web site (please 
note that there may be revisions to the Assistance Agreement that will 
be used for Awardees under this NOFA and thus the sample document on 
the Fund's Web site is provided for illustrative purposes only and 
should not be relied on for purposes of this NOFA).
    E. Communication with the CDFI Fund: The Fund will use the 
myCDFIFund Internet interface to correspond with Applicants and 
Awardees, using the contact information maintained in their respective 
myCDFIFund accounts. Therefore, the Applicant 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 its 
myCDFIFund account(s). For more information about my CDFIFund (which 
includes information about the Fund's Community Investment Impact 
System), please see the Help documents posted at http://www.cdfifund.gov/ciis/accessingciis.pdf.

VIII. Information Sessions and Outreach

    The Fund may conduct webcasts or host information sessions for 
organizations that are considering applying to, or are interested in 
learning about, the Fund's programs. For further information, please 
visit the Fund's Web site at http://www.cdfifund.gov.

    Authority: 12 U.S.C. 4703, 4704, 4706, 4707, 4717; 12 CFR part 
1805.

    Dated: April 17, 2009.
Donna J. Gambrell,
Director, Community Development Financial Institutions Fund.
[FR Doc. E9-9633 Filed 4-27-09; 8:45 am]
BILLING CODE 4810-70-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>