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[Federal Register Volume 90, Number 11 (Friday, January 17, 2025)]
[Notices]
[Pages 6051-6076]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01322]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Notice of Funds Availability

    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for Financial Assistance (FA) or Technical 
Assistance (TA) awards under the Community Development Financial 
Institutions Program (CDFI Program) fiscal year (FY) 2025 Funding 
Round.
    Funding Opportunity Number: CDFI-2025-FATA.
    Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
    Dates:

                  Table 1--FY 2025 CDFI Program Funding RoundCritical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
           Description                      Deadline               Time (Eastern Time- ET)     Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an AMIS        February 18, 2025...........  11:59 p.m. ET...............  AMIS.
 Account (all Applicants).
Last day to enter Employer        February 18, 2025...........  11:59 p.m. ET...............  AMIS.
 Identification Number (EIN) and
 Unique Entity Identifier (UEI)
 in AMIS (all Applicants).
Last day to submit SF-424         February 18, 2025...........  11:59 p.m. ET...............  Electronically via
 Mandatory Form (Application for                                                               Grants.gov.
 Federal Assistance).
Last day to contact CDFI Program  March 19, 2025..............  5:00 p.m. ET................  Service Request
 staff.                                                                                        via AMIS Or CDFI
                                                                                               Fund Helpdesk:
                                                                                               202-653-0421.
Last day to contact AMIS-IT Help  March 21, 2025..............  5:00 p.m. ET................  Service Request
 Desk (regarding AMIS technical                                                                via AMIS Or 202-
 problems only).                                                                               653-0422 Or
                                                                                               [email protected].
Last day to submit Title VI       March 21, 2025..............  11:59 p.m. ET...............  AMIS.
 Compliance Worksheet (all
 Applicants) \1\.
Last day to submit CDFI Program   March 21, 2025..............  11:59 p.m. ET...............  AMIS.
 Application for Financial
 Assistance (FA) or Technical
 Assistance (TA).
Last day to submit Excel Housing  April 4, 2025...............  11:59 p.m. ET...............  Service Request
 Production FA (HP-FA)                                                                         via AMIS.
 Application.
----------------------------------------------------------------------------------------------------------------
\1\ This requirement also applies to Subsidiary Insured Depository Institutions that will carry out award
  activities on behalf of Depository Institution Holding Company Applicants.

[[Page 6052]]

    Executive Summary: Through the CDFI Program, the CDFI Fund provides 
(i) FA awards to Certified Community Development Financial Institutions 
(CDFIs) to build their financial capacity to lend to Eligible Markets 
and/or their Target Markets, and (ii) TA awards to build Certified and 
Emerging CDFIs' organizational capacity to serve Eligible Markets and/
or their Target Markets. All awards provided through this NOFA are 
subject to funding availability.

I. Program Description

    A. History: The CDFI Fund was established by the Riegle Community 
Development Banking and Financial Institutions Act of 1994 to promote 
economic revitalization and community development through investment in 
and assistance to CDFIs. The CDFI Program made its first awards in 1996 
and the Native American CDFI Assistance (NACA) Program made its first 
awards in 2002.
    B. Priorities: Through the CDFI Program's FA and TA awards, the 
CDFI Fund invests in and builds the capacity of for-profit and non-
profit community-based lending organizations known as CDFIs. These 
organizations, Certified as CDFIs by the CDFI Fund, serve rural and 
urban Low-Income people, and communities across the nation that lack 
adequate access to affordable Financial Products and Financial 
Services.
    C. Authorizing Statutes and Regulations: The CDFI Program is 
authorized by the Riegle Community Development Banking and Financial 
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.) 
(Authorizing Statute). The regulations governing the CDFI Program are 
found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth 
evaluation criteria and other program requirements. The CDFI Fund 
encourages Applicants to review the Regulations; this NOFA; the CDFI 
Program Application for Financial Assistance or Technical Assistance 
(the Application); all related materials and guidance documents found 
on the CDFI Fund's website (Application materials); and the Uniform 
Administrative Requirements, Cost Principles, and Audit Requirements 
for Federal Awards (2 CFR part 1000), which is the Department of the 
Treasury's codification of the Office of Management and Budget (OMB) 
government-wide framework for Federal financial assistance management 
at 2 CFR part 200 Uniform Administrative Requirements, Cost Principles, 
and Audit Requirements for Federal Awards (Uniform Administrative 
Requirements) for a complete understanding of the program. Capitalized 
terms in this NOFA are defined in the Authorizing Statute, the 
Regulations, this NOFA, the Application, Application materials, or the 
Uniform Administrative Requirements. Details regarding Application 
content requirements are found in the Application and Application 
materials.
    D. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR part 1000): The Uniform 
Administrative Requirements codify financial, administrative, 
procurement, and program management standards that Federal award 
agencies must follow. When evaluating Applications, awarding agencies 
must evaluate the risks posed by each Applicant, and each Applicant's 
merits and eligibility. These requirements are designed to ensure that 
Applicants for Federal assistance receive a fair and consistent review 
prior to an award decision. This review will assess items such as the 
Applicant's financial stability, quality of management systems, the 
soundness of its business plan, history of performance, ability to 
achieve measurable impacts through its products and services, and audit 
findings. In addition, the Uniform Administrative Requirements include 
guidance on audit requirements and other award compliance requirements 
for Recipients.
    E. Funding limitations: The CDFI Fund reserves the right to fund, 
in whole or in part, any, all, or none of the Applications submitted in 
response to this NOFA.

II. Federal Award Information

A. Funding Availability:

    1. FY 2025 Funding Round: Subject to final appropriations, the CDFI 
Fund expects to award, through this NOFA, approximately $320 million as 
indicated in table 2.

                           Table 2--FY 2025 Funding Round Anticipated Category Amounts
----------------------------------------------------------------------------------------------------------------
                                   Estimated              Award amount
    Funding categories (see      total amount  ----------------------------------    Estimated       Estimated
 definition in table 7 for TA    to be awarded                                       number of    average amount
      or table 8 for FA)         (millions) FY     Minimum \2\       Maximum *    awards FY 2025   to be awarded
                                     2025                                                             FY 2025
----------------------------------------------------------------------------------------------------------------
Base-FA: Category I/Small and/           $14.8  $125,000........        $700,000              48        $308,000
 or Emerging CDFI Assistance
 (SECA).
Base-FA: Category II/Core.....           101.2  $500,000, or if        1,000,000             185         547,000
                                                 portfolio
                                                 outstanding is
                                                 less than
                                                 $1,666,700 as
                                                 of the most
                                                 recent historic
                                                 fiscal year
                                                 end, then 30%
                                                 of portfolio
                                                 outstanding.
Persistent Poverty Counties--             21.0  $100,000........         400,000             137         153,000
 Financial Assistance (PPC-FA).
Disability Funds--Financial               20.0  $100,000........       1,000,000              20       1,000,000
 Assistance (DF-FA) **.
Healthy Food Financing                    24.0  $500,000........       5,000,000              15       1,600,000
 Initiative--Financial
 Assistance (HFFI-FA) **.
Housing Production--Financial            100.0  $1,000,000......       5,000,000              50       2,000,000
 Assistance (HP-FA) **.
TA............................            39.0  $10,000.........         150,000             260         150,000
                               ---------------------------------------------------------------------------------
    Total.....................           320.0  ................  ..............             715  ..............
----------------------------------------------------------------------------------------------------------------
\2\ The FA Application Guidance defines ``the most recent historic fiscal year'' based on an Applicant's fiscal
  year end.
* Note that, regardless of the stated maximum award in each award category, in no case will the sum of an
  Applicant's Base-FA, TA, PPC-FA and HP-FA Awards in the last three years exceed $5 million.
** DF-FA, HFFI-FA, and HP-FA funding will be allocated in one competitive round between the NACA and CDFI
  Program NOFAs.

    The CDFI Fund reserves the right to award more or less than the 
amounts cited above in each category, based upon available funding and 
other factors, as appropriate.

[[Page 6053]]

    2. Funding Availability for the FY 2025 Funding Round: Funds for 
the FY 2025 Funding Round are subject to change based on passage of a 
final FY 2025 appropriations bill; if Congress does not appropriate 
funds for the CDFI Program there will not be an FY 2025 Funding Round. 
If funds are appropriated for FY 2025, the amount of such funds may be 
greater or less than the amounts set forth above. The CDFI Fund 
reserves the right to contact Applicants to seek additional information 
if final FY 2025 appropriations for the CDFI Program necessitate change 
to any of the requirements of this NOFA. As of the date of this NOFA, 
the CDFI Fund is operating under a continuing funding resolution as 
enacted by the Continuing Appropriations and Extensions Act, 2025 (Pub. 
L. 118-83). The HP-FA awards are funded through interest and dividend 
payments and sale proceeds received under the Department of the 
Treasury's Emergency Capital Investment Program (ECIP). The amount 
available for HP-FA awards is estimated based on projected ECIP 
proceeds and may vary based on the actual proceeds received by the CDFI 
Fund.
    3. Anticipated Start Date and Period of Performance: The Period of 
Performance for TA awards begins with the date of the award 
announcement and includes either (i) an Emerging CDFI Recipient's three 
full consecutive fiscal years after the date of the award announcement, 
or (ii) a Certified CDFI Recipient's two full consecutive fiscal years 
after the date of the award announcement, during which the Recipient 
must meet the Performance Goals and Measures (PG&Ms) set forth in the 
Assistance Agreement. The Period of Performance for FA awards begins 
with the date of the award announcement and includes a Recipient's 
three full consecutive fiscal years after the date of the award 
announcement, during which time the Recipient must meet the PG&Ms set 
forth in the Assistance Agreement.
    B. Types of Awards: Through the CDFI Program, the CDFI Fund 
provides two types of awards: Financial Assistance (FA) and Technical 
Assistance (TA) awards. An Applicant may submit an Application for a TA 
award or an FA award under the CDFI Program, but not both. FA awards 
include the Base Financial Assistance (Base-FA) award and the following 
awards that are provided as a supplement to the Base-FA award: Healthy 
Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent 
Poverty Counties-Financial Assistance (PPC-FA), Disability Funds-
Financial Assistance (DF-FA), and Housing Production-Financial 
Assistance (HP-FA). The HFFI-FA, PPC-FA, DF-FA, and HP-FA Applications 
will be evaluated independently from the Base-FA Application and will 
not affect the Base-FA Application evaluation or Base-FA award amount. 
Alternatively, an Applicant may request only HP-FA by submitting an FA 
Application with no Base-FA award request and submitting the Excel HP-
FA Application as well. Additional information on how to complete an FA 
Application under this circumstance is provided in the Application 
Guidance.
    However, Applicants that qualify for the NACA Program may submit 
two Applications in certain circumstances: one Application (either for 
a TA award or an FA award, but not both) through the CDFI Program, and 
one Application (either for a TA award or an FA award, but not both) 
through the NACA Program. NACA qualified Applicants that choose to 
apply for awards through both the CDFI Program and the NACA Program 
must apply for the same type of award under both programs. For example, 
an Applicant that applies for an FA award under the NACA Program may 
apply for an FA award under the CDFI Program, but not for a TA award 
under the CDFI Program. NACA qualified FA Applicants that choose to 
apply for an FA award under both the NACA Program and CDFI Program and 
are selected for an award under both Programs will be provided the FA 
award under the NACA Program. NACA qualified TA Applicants that choose 
to apply for a TA award under both the NACA Program and CDFI Program 
and are selected for an award under both Programs will be provided the 
TA award under the NACA Program. NACA Applicants cannot receive an 
award under both Programs within the same funding round. Further, NACA 
qualified Applicants who seek to only apply for an HP-FA award with no 
Base-FA award can do so by submitting either a CDFI Program FA 
Application or a NACA Program FA Application; the FA Application should 
be submitted with no Base-FA award request and the additional Excel HP-
FA Application. Further instructions are found in the Application 
Guidance. If a NACA qualified Applicant seeks to apply for HP-FA award 
only, they should apply through either the CDFI Program or the NACA 
Program, but not both. If a NACA qualified Applicant submits an 
eligible HP-FA only Application under one program and an eligible 
Application with a Base-FA award request under the other program, only 
the Application with the Base-FA award request will be reviewed. The 
HP-FA only Application will be deemed ineligible.
    There are two categories of FA Applicants: Category I (SECA) and 
Category II (Core) (see definitions in table 8). Category II (Core) FA 
Applicants applying for Base-FA, PPC-FA, and/or DF-FA must provide 
evidence of acceptable Matching Funds \3\ (see table 9 for more 
information), except Native American CDFIs \4\ applying under this 
NOFA, which are exempt from the Matching Funds requirement.\5\ Native 
American CDFIs that qualify as a Category II (Core) FA Applicant are 
not required to submit Matching Funds for their award requests. 
Additionally, the Matching Funds requirement for HFFI-FA and SECA FA 
Applicants was waived in the enacted FY 2024 Consolidated 
Appropriations Act, and the final FY 2025 appropriations are still 
pending. Therefore, HFFI-FA and SECA FA Applicants are not required to 
submit Matching Funds for their award requests at the time of 
Application. However, the CDFI Fund reserves the right to request 
Matching Funds from SECA FA Applicants and/or HFFI-FA Applicants if 
Matching Funds are not waived in the final FY 2025 CDFI Program 
appropriations. HP-FA Applicants are not required to provide Matching 
Funds for HP-FA award requests, as Matching Funds are not required 
under the Consolidated Appropriations Act, 2021 (P.L. 116-260). TA 
Applicants are not required to provide Matching Funds.
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    \3\ Matching Funds shall mean funds from sources other than the 
Federal Government as defined in accordance with the CDFI Program 
Regulations at 12 CFR 1805.500.
    \4\ A Native American CDFI (Native CDFI) is one that Primarily 
Serves a Native Community. Primarily Serves is defined as 50% or 
more of an Applicant's activities being directed to a Native 
Community. For purposes of this NOFA, a Native Community is defined 
as Native American, Alaska Native, or Native Hawaiian populations or 
Native American areas defined as federally-designated reservations, 
Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-
designated Tribal Statistical Areas.
    \5\ The Indian Community Economic Enhancement Act of 2020 (Pub. 
L. 116-261) permanently waives the Matching Funds requirement for 
Native American CDFIs that receive Assistance from the CDFI Fund.
---------------------------------------------------------------------------

    1. Base-FA Awards: Base-FA awards can be in the form of loans, 
grants, Equity Investments, deposits, and credit union shares. The form 
of the Base-FA award is based on the form of the Matching Funds that 
the Applicant includes in its Application, unless Congress waives the 
Matching Funds requirement. The Matching Funds requirement was 
permanently waived

[[Page 6054]]

for Native American CDFIs. Therefore, the Base-FA award will be in the 
form of a grant for Native American CDFI Applicants. Matching Funds are 
required at the time of Application submission for Category II (Core) 
Applicants (except Native American CDFIs) applying for Base-FA awards, 
and the CDFI Fund reserves the right to request Matching Funds from 
Category I (SECA) Applicants applying for Base FA awards if Matching 
Funds are not waived in the final FY 2025 appropriations for these 
Applicants. Matching Funds must be from non-Federal sources and cannot 
have been used as Matching Funds for any other Federal award. The CDFI 
Fund reserves the right, in its sole discretion, to provide a Base-FA 
award in an amount other than that which the Applicant requests; 
however, the award amount will not exceed the Applicant's award request 
as stated in its Application.
    2. Persistent Poverty Counties--Financial Assistance (PPC-FA) 
Awards: PPC-FA awards will be provided as a supplement to Base-FA 
awards; therefore, only those Applicants that are selected to receive a 
Base-FA award through the CDFI Program FY 2025 Funding Round will be 
eligible to receive a PPC-FA award. PPC-FA awards can be in the form of 
loans, grants, Equity Investment, deposits, and credit union shares. 
The form of the PPC-FA award is based on the form of the Matching Funds 
that the Applicant includes in its Application, unless Congress waives 
the Matching Funds requirement. The Matching Funds requirement was 
permanently waived for Native American CDFIs. Therefore, the PPC-FA 
award will be in the form of a grant for Native American CDFI 
Applicants. Matching Funds are required at the time of Application 
submission for Category II (Core) Applicants (except Native American 
CDFIs) applying for PPC-FA awards, and the CDFI Fund reserves the right 
to request Matching Funds from Category I (SECA) Applicants applying 
for PPC-FA awards if Matching Funds are not waived in the final FY 2025 
appropriations for these Applicants. Matching Funds must be from non-
Federal sources and cannot have been used as Matching Funds for any 
other Federal award. The CDFI Fund reserves the right, in its sole 
discretion, to provide a PPC-FA award in an amount other than that 
which the Applicant requests; however, the award amount will not exceed 
the Applicant's award request as stated in its Application.
    3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA 
awards will be provided as a supplement to Base-FA awards; therefore, 
only those Applicants that have been selected to receive a Base-FA 
award through the CDFI Program FY 2025 Funding Round will be eligible 
to receive a DF-FA award. DF-FA awards can be in the form of loans, 
grants, Equity Investments, deposits, and credit union shares. The form 
of the DF-FA award is based on the form of the Matching Funds that the 
Applicant includes in its Application unless Congress waives the 
Matching Funds requirement. The Matching Funds requirement was 
permanently waived for Native American CDFIs. Therefore, the DF-FA 
award will be in the form of a grant to Native American CDFI 
Applicants. Matching Funds are required for Category II (Core) 
Applicants (except Native American CDFIs) applying for DF-FA awards, 
and the CDFI Fund reserves the right to request Matching Funds from 
Category I (SECA) Applicants applying for DF-FA awards if Matching 
Funds are not waived in the final FY 2025 appropriations for these 
Applicants. Matching Funds must be from non-Federal sources and cannot 
have been used as Matching Funds for any other Federal award. The CDFI 
Fund reserves the right, in its sole discretion, to provide a DF-FA 
award in an amount other than that which the Applicant requests; 
however, the award amount will not exceed the Applicant's award request 
as stated in its Application.
    4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA 
awards; therefore, only those Applicants that have been selected to 
receive a Base-FA award through the CDFI Program FY 2025 Funding Round 
will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in 
the form of loans, grants, Equity Investments, deposits, and credit 
union shares. The form of the HFFI-FA award is based on the form of the 
Matching Funds that the Applicant includes in its Application unless 
Congress waives the Matching Funds requirement. The Matching Funds 
requirement was permanently waived for Native American CDFIs. 
Therefore, HFFI-FA awards will be in the form of a grant to Native 
American CDFI Applicants. The Matching Funds requirement for HFFI-FA 
Applicants was waived in the final appropriations bill for FY 2024, and 
the final FY 2025 appropriations are still pending. As a result, HFFI-
FA Applicants are not required to submit Matching Funds for their award 
requests at the time of Application. However, the CDFI Fund reserves 
the right to request Matching Funds from HFFI-FA Applicants if Matching 
Funds are not waived in the final FY 2025 CDFI Program appropriations. 
The CDFI Fund reserves the right, in its sole discretion, to provide an 
HFFI-FA award in an amount other than that which the Applicant 
requests; however, the award amount will not exceed the Applicant's 
award request as stated in its Application.
    5. Housing Production--Financial Assistance (HP-FA) Awards: 
Applicants may apply for an HP-FA award as a supplement to a Base-FA 
award or may apply only for an HP-FA award (without a Base-FA award). 
If an Applicant applies for an HP-FA award as a supplement to a Base-FA 
award, it must be selected to receive a Base-FA award through the FY 
2025 CDFI Program Funding Round to be eligible to receive an HP-FA 
award. Alternatively, an Applicant may choose to apply for only an HP-
FA award (with no Base-FA award) by completing an FA Application as 
instructed in the Application Guidance and submitting the Excel HP-FA 
Application as well. If an Applicant chooses to apply only for an HP-FA 
Award (with no Base-FA award), it will be ineligible to receive a Base-
FA, PPC-FA, DF-FA, or HFFI-FA award. HP-FA awards will be provided in 
the form of a grant. Because HP-FA awards are funded by proceeds 
received from ECIP under the Consolidated Appropriations Act, 2021, HP-
FA awards are not subject to the Matching Funds requirements. The CDFI 
Fund reserves the right, in its sole discretion, to provide an HP-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.
    6. TA Awards: TA is provided in the form of grants. The CDFI Fund 
reserves the right, in its sole discretion, to provide a TA award in an 
amount other than that which the Applicant requests; however, the TA 
award amount will not exceed the Applicant's request as stated in its 
Application.
    C. Eligible Activities:
    1. FA Awards: Base-FA, PPC-FA, DF-FA, HFFI-FA, and HP-FA award 
funds may be expended for activities serving Commercial Real Estate, 
Small Business, Microenterprise, Community Facilities, Consumer 
Financial Products, Consumer Financial Services, Commercial Financial 
Products, Commercial Financial Services, Affordable Housing, 
Intermediary Lending to Non-Profits and CDFIs, Climate-Focused 
Financing, and other

[[Page 6055]]

lines of business as deemed appropriate by the CDFI Fund in the 
following categories: (i) Financial Products; (ii) Financial Services; 
(iii) Loan Loss Reserves; (iv) Development Services; \6\ (v) Capital 
Reserves; and (vi) Direct Administrative Expenses, subject to certain 
restrictions outlined in this section. The FA Budget is the amount of 
the award and must be expended in the eligible activity categories 
prior to the end of the Budget Period.\7\ None of the eligible activity 
categories will be authorized for Indirect Costs or an associated 
Indirect Cost Rate. All FA eligible activities must be in an Eligible 
Market or the Applicant's approved Target Market. Eligible Market is 
defined as (i) a geographic area meeting the requirements set forth in 
12 CFR 1805.201(b)(3)(ii), or (ii) individuals that are Low-Income, 
African American, Hispanic, Native American, Native Hawaiian, Alaska 
Native, Other Pacific Islander, Filipino, Vietnamese, or Persons with 
Disabilities.
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    \6\ Although some financial education for youth under 18 years 
old do not fall under the definition of Development Services and 
thus is not eligible to support Certification, the CDFI Fund allows 
FA award funds to be used to provide such financial education. 
Financial education for youth means education designed to prepare 
youth to engage with the financial system. This includes accessing 
Financial Products when they are legally able to and accessing 
Financial Services offered by the Applicant or a third party.
    \7\ Budget Period means the time interval from the start date of 
a funded portion of an award to the end date of that funded portion 
during which Recipients are authorized to expend the funds awarded.
---------------------------------------------------------------------------

    Base-FA Recipients must meet PG&Ms, which will be derived from 
projections and attestations provided by the Applicant in its 
Application, to achieve one of the following FA Objectives: (i) 
Increase Volume of Financial Products in an Eligible Market(s) and/or 
in the Applicant's approved Target Market and/or Increase Volume of 
Financial Services in an Eligible Market(s) and/or in the Applicant's 
approved Target Market; (ii) Serve Eligible Market(s) or the 
Applicant's approved Target Market in New Geographic Area or Areas; 
(iii) Provide New Financial Products in an Eligible Market(s) and/or in 
the Applicant's approved Target Market; and (iv) Serve New Targeted 
Population or Populations. FA awards may only be used for Direct Costs 
associated with an eligible activity; no indirect expenses are allowed. 
Up to 15% of the FA award may be used for Direct Administrative 
Expenses associated with an eligible FA activity. ``Direct 
Administrative Expenses'' shall mean Direct Costs, as described in 
section 2 CFR 200.413 of the Uniform Administrative Requirements, which 
are incurred by the Recipient to carry out the Financial Assistance. 
Direct Costs incurred to provide Development Services or Financial 
Services are not deemed to be Direct Administrative Expenses and 
therefore are not subject to the 15% limitation.
    The Recipient must comply, as applicable, with the Buy American Act 
of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform 
Administrative Requirements,\8\ with respect to any Direct Costs. For 
purposes of this NOFA, the five eligible activity categories are 
defined in table 3.
---------------------------------------------------------------------------

    \8\ Section 200.216 Prohibition on certain telecommunications 
and video surveillance services or equipment.
    (a) Recipients and Subrecipients are prohibited from obligating 
or expending loan or grant funds to:
    (1) Procure or obtain;
    (2) Extend or renew a contract to procure or obtain; or
    (3) Enter into a contract (or extend or renew a contract) to 
procure or obtain, equipment, services, or systems that uses covered 
telecommunications equipment or services as a substantial or 
essential component of any system, or as critical technology as part 
of any system. As described in Public Law 115-232, section 889, 
covered telecommunications equipment is telecommunications equipment 
produced by Huawei Technologies Company or ZTE Corporation (or any 
Subsidiary or Affiliate of such entities).

                Table 3--Base-FA, PPC-FA, DF-FA, HFFI-FA, and HP-FA Eligible Activity Categories
----------------------------------------------------------------------------------------------------------------
                                                                                      Eligible CDFI  institution
          FA eligible activity                  FA Eligible activity definition                  types
----------------------------------------------------------------------------------------------------------------
i. Financial Products...................  FA expended as loans, Equity Investments,   All.
                                           loan guarantees, and similar financing
                                           activities (as determined by the CDFI
                                           Fund) including the purchase of loans
                                           originated by Certified CDFIs and the
                                           purchase of loans originated by entities
                                           that do not have the CDFI Certification
                                           but were made to members of the
                                           Applicant's Target Market. In the case of
                                           CDFI Intermediaries, Financial Products
                                           may also include loans to CDFIs and/or
                                           Emerging CDFIs, and deposits in Insured
                                           Credit Union CDFIs, Emerging Insured
                                           Credit Union CDFIs, and/or State-Insured
                                           Credit Union CDFIs.
                                          For HFFI-FA, however, financing for
                                           prepared food outlets are not eligible
                                           activities, including the purchase of
                                           loans, loan refinancing, or any other
                                           type of financing for prepared food
                                           outlets..
ii. Financial Services..................  FA expended for providing checking,         Regulated Institutions \9\
                                           savings accounts, check cashing, money      only.
                                           orders, certified checks, automated        Not applicable for HFFI-FA
                                           teller machines, deposit taking, safe       or HP-FA Recipients.
                                           deposit box services, and other similar
                                           services.
iii. Loan Loss Reserves.................  FA set aside in the form of cash reserves,  All.
                                           or through accounting-based accrual
                                           reserves, to cover losses on loans,
                                           accounts, and notes receivable or for
                                           related purposes that the CDFI Fund deems
                                           appropriate.
iv. Development Services................  FA expended for activities undertaken by a  All.
                                           CDFI, its Affiliate or contractor that
                                           (i) promote community development and
                                           (ii) prepare or assist current or
                                           potential borrowers or investees to use
                                           the CDFI's Financial Products or
                                           Financial Services. For example, such
                                           activities include financial or credit
                                           counseling; homeownership counseling;
                                           business planning; and management
                                           assistance.
v. Capital Reserves.....................  FA set aside as reserves to support the     Regulated Institutions
                                           Applicant's ability to leverage other       only.
                                           capital, for such purposes as increasing   Not applicable for DF-FA.
                                           its net assets or providing financing, or
                                           for related purposes as the CDFI Fund
                                           deems appropriate.
----------------------------------------------------------------------------------------------------------------

    2. DF-FA Award: DF-FA award funds may only be expended for eligible 
FA activities (referenced in table 3) to directly or indirectly benefit 
individuals with disabilities. The DF-FA Recipient must close Financial 
Products for the primary purpose of directly or indirectly benefiting 
people with disabilities, where the majority of the DF-FA supported 
loans or investments benefit individuals with disabilities, in an 
amount equal to or greater than 85% of the total DF-FA provided. 
Eligible DF-FA financing activities may include, among other 
activities, loans to develop or purchase affordable, accessible, and 
safe housing; loans to provide or facilitate employment opportunities;

[[Page 6056]]

and loans to purchase assistive technology.
---------------------------------------------------------------------------

    \9\ Regulated Institutions include Insured Credit Unions, 
Insured Depository Institutions, State-Insured Credit Unions and 
Depository Institution Holding Companies.
---------------------------------------------------------------------------

    For the purposes of DF- FA, a person with a disability is a person 
who has a physical or mental impairment that substantially limits one 
or more major life activities, a person who has a record of such an 
impairment, or a person who is regarded as having such an impairment, 
as defined by the Americans with Disabilities Act (ADA), 42 U.S.C. 
12102.
    3. HFFI-FA Award: HFFI-FA award funds may only be expended for 
eligible FA activities referenced in table 3. The HFFI-FA investments 
must comply with the following guidelines:
    a. Recipient must close Financial Products for Healthy Food Retail 
Outlets and Healthy Food Non-Retail Outlets in its approved Target 
Market in an amount equal to or greater than 100% of the total HFFI 
Financial Assistance provided. Eligible financing activities to Healthy 
Food Retail Outlets and Healthy Food Non-Retail Outlets require that 
the majority of the loan or investment be devoted to offering a range 
of Healthy Food choices, which may include, among other activities, 
investments supporting an existing retail store or wholesale operation 
upgrade to offer an expanded range of Healthy Food choices, or 
supporting a nonprofit organization that expands the availability of 
Healthy Foods in underserved areas.
    b. Recipient must demonstrate that it has closed Financial Products 
to Healthy Food Retail Outlets located in Low-Income and Low-Access 
Food Areas in the Recipient's approved Target Market in an amount equal 
to 75% of the total HFFI Financial Assistance provided.
    Definitions:
    Healthy Foods: Healthy Foods include unprepared nutrient-dense 
foods and beverages as set forth in the USDA Dietary Guidelines for 
Americans 2020-2025 including whole fruits and vegetables, whole 
grains, fat free or low-fat dairy foods, lean meats, and poultry 
(fresh, refrigerated, frozen or canned). Healthy Foods should have low 
or no added sugars, and be low-sodium, reduced sodium, or no-salt-
added. (See USDA Dietary Guidelines: https://www.dietaryguidelines.gov).
    Healthy Food Retail Outlets: Commercial sellers of Healthy Foods 
including, but not limited to, grocery stores, mobile food retailers, 
farmers markets, retail cooperatives, corner stores, bodegas, stores 
that sell other food and non-food items along with a range of Healthy 
Foods.
    Healthy Food Non-Retail Outlets: Wholesalers of Healthy Foods 
including, but not limited to, wholesale food outlets, wholesale 
cooperatives, or other non-retail food producers that supply for sale a 
range of Healthy Food options; entities that produce or distribute 
Healthy Foods for eventual retail sale, and entities that provide 
consumer education regarding the consumption of Healthy Foods.
    Low-Income and Low-Access Food Areas: Distressed geographic areas 
where either a substantial number or share of residents has low access 
to a supermarket or large grocery store. For the purpose of satisfying 
this requirement, a Low-Income and Low-Access Food Area must either: 
(1) be a census tract determined to be a Low-Income and Low-Access Food 
Area by the U.S. Department of Agriculture (USDA), in its USDA Food 
Access Research Atlas; (2) be a census tract adjacent to a census tract 
determined to be a Low-Income and Low-Access Food Area by the USDA, in 
its USDA Food Access Research Atlas; which has a median family income 
less than or equal to 120% of the applicable Area Median Family Income; 
or (3) be a Geographic Unit as defined in 12 CFR part 
1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the 
criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been 
identified as having low access to a supermarket or grocery store 
through a methodology that has been adopted for use by another 
governmental or philanthropic healthy food initiative.
    4. PPC-FA Award: PPC-FA award funds may only be expended for 
eligible FA activities referenced in table 3. The PPC-FA Recipient must 
close Financial Products in PPC: (1) in an Eligible Market or in the 
Applicant's approved Target Market and (2) in an amount equal to or 
greater than 100% of the total PPC-FA award. The specific counties that 
meet the criteria for ``persistent poverty'' can be found at: https://www.cdfifund.gov/sites/cdfi/files/2024-05/PPC_2020_ACS_May_10_2024.xlsx.
    5. HP-FA Award: HP-FA award funds may only be expended for eligible 
FA activities authorized in table 3. Additionally, HP-FA award funds 
must comply with the following guidelines:
    a. Recipient must close Financial Products that finance the 
production of rental Housing projects affordable to families making at 
or below 120% Area Median Income (AMI) and/or the production of 
Homeownership projects affordable to families making at or below 150% 
of AMI in an amount equal to or greater than 100% of the total HP-FA 
assistance provided to the Recipient. The CDFI Fund will prioritize 
funding Applications that focus on financing Homeownership and rental 
Housing affordable to families at or below 80% AMI and further income 
targeting restrictions will be specified in the Assistance Agreement 
based on the Recipient's Application strategy.
    b. Recipient must increase the volume of housing units financed 
from the baseline period (Recipient's most recent three historic fiscal 
years) to the Performance Period, as specified in the Assistance 
Agreement.
    c. For rental Housing, the Recipient must finance projects that 
have a financing gap and are projected to be completed and ready for 
occupancy by the end of the Period of Performance as evidenced by a 
certificate of occupancy or equivalent. For Homeownership, the 
Recipient must finance the development of new for-sale Housing and/or 
the acquisition and rehabilitation of for-sale Housing, where such 
Housing will be completed and ready for occupancy by the end of the 
Period of Performance as evidenced by a certificate of occupancy or 
equivalent.
    Definitions:
    Homeownership means ownership interest in a home in fee simple, or 
by condominium, cooperative, mutual housing, or ground lease title 
interest, as allowed under State law, in one- to four-unit Single-
family housing, or ownership of a manufactured housing unit. The 
ownership interest is subject to the following additional requirements: 
(1) Ownership interest may not merely consist of a right of possession 
under a contract for deed, installment contract, or land contract 
pursuant to which the deed is not given until the final payment is 
made; and (2) Ownership interest is subject to the restrictions on 
affordability permitted under the Assistance Agreement and this part; 
mortgages, deeds of trust, or other liens or instruments securing debt 
on the property; or any other restrictions or encumbrances that do not 
impair the good and marketable nature of title to the ownership 
interest.
    Housing means Single-family and Multi-family residential units 
including, but not limited to, manufactured housing, permanent 
supportive housing, single-room occupancy (SRO) housing, assisted 
living, and group homes that are permanent in nature and not temporary, 
short term, transitional, or a dormitory, as further set forth by the 
CDFI Fund.
    Multi-family housing means residential properties consisting of 
five or more dwelling units, such as a condominium unit, cooperative 
unit, or an apartment.

[[Page 6057]]

    Single-family housing means a one- to four- unit family residence, 
a condominium unit, a cooperative unit, mutual housing, a manufactured 
housing unit only, or the combination of a manufactured housing unit 
and lot.
    6. TA Awards: TA award funds may be expended for the following 
seven eligible activity categories: (i) Compensation--Personal 
Services; (ii) Compensation--Fringe Benefits; (iii) Professional 
Service Costs; (iv) Travel Costs; (v) Training and Education Costs; 
(vi) Equipment; and (vii) Supplies. The TA Budget is the amount of the 
award and must be expended in the seven eligible activity categories 
before the end of the Budget Period. None of the eligible activity 
categories will be authorized for Indirect Costs or an associated 
Indirect Cost Rate. Any expenses that are prohibited by the Uniform 
Administrative Requirements are unallowable and are generally found in 
Subpart E-Cost Principles. The Recipient must comply, as applicable, 
with the Buy American Act of 1933, 41 U.S.C. 8301-8303 and section 2 
CFR 200.216 of the Uniform Administrative Requirements, with respect to 
any Direct Costs. For purposes of this NOFA, the seven eligible 
activity categories are defined in table 4.

   Table 4--TA Eligible Activity Categories, Subject to the Applicable
          Provisions of the Uniform Administrative Requirements
------------------------------------------------------------------------
 
------------------------------------------------------------------------
(i) Compensation-Personal      TA paid to cover all remuneration, paid
 Services.                      currently or accrued, for services of
                                Applicant's employees rendered during
                                the Period of Performance under the TA
                                award in accordance with section 2 CFR
                                200.430 of the Uniform Administrative
                                Requirements, is allowed.
                               Any work performed directly but unrelated
                                to the purposes of the TA award may not
                                be paid as Compensation through a TA
                                award. For example, the salaries for
                                building maintenance would not carry out
                                the purpose of a TA award and would be
                                deemed unallowable.
(ii) Compensation--Fringe      TA paid to cover allowances and services
 Benefits.                      provided by the Applicant to its
                                employees as Compensation in addition to
                                regular salaries and wages, in
                                accordance with section 2 CFR 200.431 of
                                the Uniform Administrative Requirements,
                                is allowed. Such expenditures are
                                allowable as long as they are made under
                                formally established and consistently
                                applied organizational policies of the
                                Applicant.
(iii) Professional Service     TA paid to cover professional and
 Costs.                         consultant services (e.g., such as
                                strategic and marketing plan
                                development), rendered by persons who
                                are members of a particular profession
                                or possess a special skill (e.g., credit
                                analysis, portfolio management), and who
                                are not officers or employees of the
                                Applicant, in accordance with section 2
                                CFR 200.459 of the Uniform
                                Administrative Requirements, is allowed.
                                Payment for a consultant's services may
                                not exceed the current maximum of the
                                daily equivalent rate paid to an
                                Executive Schedule Level IV Federal
                                employee. Professional and consultant
                                services must build the capacity of the
                                CDFI. For example, professional services
                                that provide direct Development Services
                                to the customers do not build the
                                capacity of the CDFI to provide those
                                services and would not be eligible. The
                                Applicant must comply, as applicable,
                                with section 2 CFR 200.216 of the
                                Uniform Administrative Requirements,
                                with respect to payment of Professional
                                Service Costs.
(iv) Travel Costs............  TA paid to cover costs of transportation,
                                lodging, subsistence, and related items
                                incurred by the Applicant's personnel
                                who are on travel status on business
                                related to the TA award, in accordance
                                with section 2 CFR 200.475 of the
                                Uniform Administrative Requirements, is
                                allowed. Travel Costs do not include
                                costs incurred by the Applicant's
                                consultants who are on travel status.
                                Any payments for travel expenses
                                incurred by the Applicant's personnel
                                but unrelated to carrying out the
                                purpose of the TA award would be deemed
                                unallowable. As such, documentation must
                                be maintained that justifies the travel
                                as necessary to the TA award.
(v) Training and Education     TA paid to cover the cost of training and
 Costs.                         education provided by the Applicant for
                                employees' development, in accordance
                                with section 2 CFR 200.473 of the
                                Uniform Administrative Requirements, is
                                allowed. TA can only be used to pay for
                                training costs incurred by the
                                Applicant's employees. Training and
                                Education Costs may not be incurred by
                                the Applicant's consultants.
(vi) Equipment...............  TA paid to cover tangible personal
                                property, having a useful life of more
                                than one year and a per-unit acquisition
                                cost of at least $10,000, in accordance
                                with section 2 CFR 200.1 of the Uniform
                                Administrative Requirements, is allowed.
                                For example, items such as office
                                furnishings and information technology
                                systems are allowable as Equipment
                                costs. The Applicant must comply, as
                                applicable, with the Buy American Act of
                                1933, 41 U.S.C. 8301-8303 and section 2
                                CFR 200.216 of the Uniform
                                Administrative Requirements, with
                                respect to the purchase of Equipment.
(vii) Supplies...............  TA paid to cover tangible personal
                                property with a per unit acquisition
                                cost of less than $10,000, in accordance
                                with section 2 CFR 200.1 of the Uniform
                                Administrative Requirements, is allowed.
                                For example, a desktop computer costing
                                $1,000 is allowable as a Supply cost.
                                The Applicant must comply, as
                                applicable, with the Buy American Act of
                                1933, 41 U.S.C. 8301-8303 and section 2
                                CFR 200.216 of the Uniform
                                Administrative Requirements, with
                                respect to the purchase of Supplies.
------------------------------------------------------------------------

III. Eligibility Information

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

            Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Certified CDFI...............  An entity that the CDFI Fund has
                                officially notified that it meets all
                                CDFI Certification requirements.
Emerging CDFI................   A non-Certified entity that
(TA Applicants)..............   demonstrates to the CDFI Fund in its
                                Application that it has an acceptable
                                plan to meet CDFI Certification
                                requirements by the end of its Period of
                                Performance, or another date that the
                                CDFI Fund selects.
                                An Emerging CDFI that has prior
                                award(s) must comply with CDFI
                                Certification PG&M(s) stated in its
                                prior Assistance Agreement(s).
                                An Emerging CDFI selected to
                                receive a TA award will be required to
                                become a Certified CDFI by a date
                                specified in the Assistance Agreement.
------------------------------------------------------------------------

[[Page 6058]]

          Table 6--Eligibility Requirements for All Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Applicant....................   An Applicant must be duly
                                organized as a legal entity (within the
                                United States or its territories).
                                Only the entity that will carry
                                out the proposed award activities may
                                apply for an award (other than
                                Depository Institution Holding Companies
                                (DIHC)\10\--see below). Recipients may
                                not create a new legal entity to carry
                                out the proposed award activities.
                                The information in the
                                Application should only reflect the
                                activities of the Applicant, including
                                the presentation of financial and
                                portfolio information (other than DIHCs-
                                see below). Do not include financial or
                                portfolio information from parent
                                companies, Affiliates, or Subsidiaries
                                in the Application unless it relates to
                                the provision of Development Services.
                                An Applicant that applies on
                                behalf of another organization will be
                                rejected without further consideration,
                                other than DIHCs (see below).
Application type and            Applicants must submit the
 submission overview through    Required Application Documents listed in
 Grants.gov and Awards          table 10.
 Management Information         The CDFI Fund will only accept
 System (AMIS).                 Applications that use the official
                                Application templates provided on the
                                Grants.gov and AMIS websites.
                                Applications submitted with alternative
                                or altered templates will not be
                                considered.
                                Applicants undergo a two-step
                                process that requires the submission of
                                Application documents by two separate
                                deadlines in two different systems: (1)
                                the SF-424 in Grants.gov and (2) all
                                other Required Application Documents in
                                AMIS.
                               Grants.gov and the SF-424:
                               o Grants.gov: Applicants must submit the
                                Standard Form (SF) SF-424, Application
                                for Federal Assistance.
                               o All Applicants must register in the
                                Grants.gov system to successfully submit
                                an Application. The Grants.gov
                                registration process can take 30 days or
                                more to complete. The CDFI Fund strongly
                                encourages Applicants to register as
                                early as possible.
                               o The CDFI Fund will not extend the SF-
                                424 application deadline for any
                                Applicant that started the Grants.gov
                                registration process on, before, or
                                after the date of the publication of
                                this NOFA, but did not complete it by
                                the deadline except in the case of a
                                Federal Government administrative or
                                technological error that directly
                                resulted in a late submission of the SF-
                                424.
                               o The SF-424 must be submitted in
                                Grants.gov on or before the deadline
                                listed in table 1. Applicants are
                                strongly encouraged to submit their SF-
                                424 as early as possible in the
                                Grants.gov system.
                               o The deadline for the Grants.gov
                                submission is before the AMIS submission
                                deadline.
                               o The SF-424 must be submitted under the
                                CDFI Program Funding Opportunity Number
                                for the CDFI Program Application. CDFI
                                Program Applicants should be careful to
                                not select the NACA Program Funding
                                Opportunity Number when submitting their
                                SF-424 for the CDFI Program. CDFI
                                Program Applicants that submit their SF-
                                424 for the CDFI Program Application
                                under the NACA Program Funding
                                Opportunity Number will be deemed
                                ineligible for the CDFI Program
                                Application.
                               o If the SF-424 is not accepted by
                                Grants.gov by the deadline, the CDFI
                                Fund will not review any material
                                submitted in AMIS and the Application
                                will be deemed ineligible.
                                AMIS and all other Required
                                Application Documents listed in table
                                10:
                               o AMIS is an enterprise-wide information
                                technology system. Applicants will use
                                AMIS to submit and store organization
                                and Application information with the
                                CDFI Fund.
                               o Applicants are only allowed one CDFI
                                Program Application submission in AMIS.
                               o Each Application in AMIS must be signed
                                by an Authorized Representative.
                               o Applicants must ensure that the
                                Authorized Representative is an employee
                                or officer of the Applicant, authorized
                                to sign legal documents on behalf of the
                                organization. Consultants working on
                                behalf of the organization may not be
                                designated as Authorized
                                Representatives.
                               o Only the Authorized Representative or
                                Application Point of Contact, included
                                in the Application, may submit the
                                Application in AMIS.
                               o All Required Application Documents must
                                be submitted in AMIS on or before the
                                deadline specified in table 1. The CDFI
                                Fund will not extend the deadline for
                                any Applicant except in the case of a
                                Federal Government administrative or
                                technological error that directly
                                resulted in the late submission of the
                                Application in AMIS.
Employer Identification         Applicants must have a unique
 Number (EIN).                  EIN assigned by the Internal Revenue
                                Service (IRS).
                                The CDFI Fund will reject an
                                Application submitted with the EIN of a
                                parent or Affiliate organization.
                                The EIN in the Applicant's AMIS
                                account must match the EIN in the
                                Applicant's System for Award Management
                                (SAM) account. The CDFI Fund reserves
                                the right to reject an Application if
                                the EIN in the Applicant's AMIS account
                                does not match the EIN in its SAM
                                account.
                                Applicants must enter their EIN
                                into their AMIS profile on or before the
                                deadline specified in table 1.
Unique Entity Identifier        The transition from the Dun and
 (UEI).                         Bradstreet Universal Numbering System
                                (DUNS) to UEI is a Federal, government-
                                wide initiative.
                                An Applicant must apply using
                                its UEI in Grants.gov.
                                The CDFI Fund will reject an
                                Application submitted with the UEI of a
                                parent or Affiliate organization.
                                The UEI in the Applicant's AMIS
                                account must match the UEI in the
                                Applicant's Grants.gov and SAM accounts.
                                The CDFI Fund will reject an Application
                                if the UEI in the Applicant's AMIS
                                account does not match the UEI in its
                                Grants.gov and SAM accounts.
                                Applicants must enter their UEI
                                into their AMIS profile on or before the
                                deadline specified in table 1.
System for Award Management     SAM is a web-based, government-
 (SAM).                         wide application that collects,
                                validates, stores, and disseminates
                                business information about the Federal
                                Government's trading partners in support
                                of the contract awards, grants, and
                                electronic payment processes.
                                Applicants must register in SAM
                                as part of the Grants.gov registration
                                process.
                                Applicants that have an active
                                SAM registration have been assigned a
                                UEI. Applicants must also have an EIN in
                                order to register in SAM.
                                Applicants must be registered in
                                SAM in order to submit an SF-424 in
                                Grants.gov.
                                The CDFI Fund reserves the right
                                to deem an Application ineligible if the
                                Applicant's SAM account expires during
                                the Application evaluation period, or is
                                set to expire before September 30, 2025,
                                and the Applicant does not re-activate,
                                or renew, as applicable, the account
                                within the deadlines that the CDFI Fund
                                communicates to affected Applicants
                                during the Application evaluation
                                period.
AMIS Account.................   Each Applicant must register as
                                an organization in AMIS and submit all
                                Required Application Documents listed in
                                table 10 through the AMIS system.
                                The Application of any
                                organization that does not properly
                                register in AMIS by the deadline set
                                forth in table 1--FY 2025 CDFI Program
                                Funding Round Critical Deadlines for
                                Applicants--will be rejected without
                                further consideration.
                                The Authorized Representative
                                and/or Application Point of Contact must
                                be included as ``users'' in the
                                Applicant's AMIS account.
                                An Applicant that fails to
                                properly register and update its AMIS
                                account may miss important communication
                                from the CDFI Fund and/or may not be
                                able to successfully submit an
                                Application.
501 (c)(4) status............   Pursuant to 2 U.S.C. 1611, any
                                501(c)(4) organization that engages in
                                lobbying activities is not eligible to
                                receive a CDFI or NACA Program award.

[[Page 6059]]

 
Compliance with                 An Applicant* may not be
 Nondiscrimination and Equal    eligible to receive an award if
 Opportunity Statutes,          proceedings have been instituted against
 Regulations, and Executive     it in, by, or before any court,
 Orders.                        governmental agency, or administrative
                                body, and a final determination has been
                                issued within the time period beginning
                                three years prior to the publication of
                                this NOFA until the execution of the
                                Assistance Agreement that indicates the
                                Applicant has violated any Federal civil
                                rights laws or regulations, including:
                                Title VI of the Civil Rights Act of
                                1964, as amended (42 U.S.C. 2000d); the
                                Fair Housing Act (42 U.S.C. 3601 et
                                seq.); the Equal Credit Opportunity Act
                                (15 U.S.C. 1691 et seq.); Section 504 of
                                the Rehabilitation Act of 1973 (29
                                U.S.C. 794); and the Age Discrimination
                                Act of 1975, (42 U.S.C. 6101-6107).
                                Applicants* will be required to
                                submit the Title VI Compliance Worksheet
                                (Worksheet) once annually to assist the
                                CDFI Fund in determining whether
                                Applicants are compliant with the
                                Treasury regulations implementing Title
                                VI of the Civil Rights Act (Title VI),
                                set forth in 31 CFR part 22. These
                                requirements are set forth in the United
                                States Department of the Treasury
                                regulations implementing Title VI
                                located in 31 CFR part 22,
                                Nondiscrimination on the Basis of Race,
                                Color, or National Origin in Programs or
                                Activities Receiving Federal Financial
                                Assistance from the Department of the
                                Treasury.
                                In addition, an Applicant* must
                                be compliant with Federal civil rights
                                requirements in order to be deemed
                                eligible to receive an award from the
                                CDFI Fund. The CDFI Fund will consider
                                an Application submitted by an Applicant
                                that has pending Title VI noncompliance
                                issues, if the CDFI Fund has not yet
                                made a final compliance determination.
                                The Title VI Compliance
                                Worksheet and program award terms and
                                conditions do not impose
                                antidiscrimination requirements on
                                Tribal governments beyond what would
                                otherwise apply under Federal law.
Depository Institution          In the case where a Depository
 Holding Company Applicant.     Institution Holding Company Applicant
                                intends to carry out the activities of
                                an award through its Subsidiary Insured
                                Depository Institution, the Application
                                must be submitted by the Depository
                                Institution Holding Company and reflect
                                the activities and financial performance
                                of the Subsidiary Insured Depository
                                Institution.
                                If a Depository Institution
                                Holding Company and its Subsidiary
                                Insured Depository Institution (through
                                which it will carry out the activities
                                of the award) both apply for an award
                                under this NOFA, only the Depository
                                Institution Holding Company will receive
                                an award, not both. In such instances,
                                the Subsidiary Insured Depository
                                Institution will be deemed ineligible.
                                Authorized Representatives of
                                both the Depository Institution Holding
                                Company and the Subsidiary Insured
                                Depository Institution must certify that
                                the information included in the
                                Application represents that of the
                                Subsidiary Insured Depository
                                Institution, and that the award funds
                                will be used to support the Subsidiary
                                Insured Depository Institution for the
                                eligible activities outlined in the
                                Application.
Use of award.................   All awards made through this
                                NOFA must be used to support the
                                Applicant's activities in at least one
                                of the FA or TA Eligible Activity
                                Categories (see Section II. (C)).
                                With the exception of Depository
                                Institution Holding Company Applicants,
                                awards may not be used to support the
                                activities of, or otherwise be passed
                                through, transferred, or co-awarded to,
                                third-party entities, whether
                                Affiliates, Subsidiaries, or others,
                                unless done pursuant to a merger or
                                acquisition or similar transaction, and
                                with the CDFI Fund's prior written
                                consent.
                                The Recipient of any award made
                                through this NOFA must comply, as
                                applicable, with the Buy American Act of
                                1933, 41 U.S.C. 8301-8303 and section 2
                                CFR 200.216 of the Uniform
                                Administrative Requirements, with
                                respect to any Direct Costs.
Requested award amount.......   An Applicant must state its
                                requested award amount in the
                                Application in AMIS. An Applicant that
                                does not include this amount will not be
                                allowed to submit an Application.
Pending resolution of           If an Applicant (or Affiliate of
 noncompliance or default.      an Applicant identified in AMIS) that is
                                a prior Recipient or Allocatee under any
                                CDFI Fund program: (i) has demonstrated
                                it is in noncompliance with or default
                                of a previous Assistance Agreement,
                                Award Agreement, Allocation Agreement,
                                Bond Loan Agreement, or Agreement to
                                Guarantee and (ii) the CDFI Fund has yet
                                to make a final determination as to
                                whether the entity is in noncompliance
                                with or default of its previous
                                agreement, the CDFI Fund will consider
                                the Applicant's Application under this
                                NOFA pending full resolution, in the
                                sole determination of the CDFI Fund, of
                                the noncompliance or default.
Noncompliance or default        The CDFI Fund will not consider
 status.                        an Application submitted by an Applicant
                                that is a prior CDFI Fund award
                                recipient or allocatee under any CDFI
                                Fund program if, as of the AMIS
                                Application deadline in this NOFA, (i)
                                the CDFI Fund has made a final
                                determination in writing that such
                                Applicant (or Affiliate of an Applicant
                                identified in AMIS)is in noncompliance
                                with or default of a previously executed
                                Assistance Agreement, Award Agreement,
                                Allocation Agreement, bond loan
                                agreement, or agreement to guarantee,
                                and (ii) the CDFI Fund has provided
                                written notification that the Applicant
                                is ineligible to apply for or receive
                                any future CDFI Fund awards or
                                allocations. Such entities will be
                                ineligible to submit an Application for
                                such time period as specified by the
                                CDFI Fund in writing.
                                Additionally, regardless of
                                whether a sanction or remedy is imposed,
                                the CDFI Fund will not consider an
                                Application submitted by an Applicant if
                                the default on a prior Allocation
                                Agreement of the Applicant or an
                                Affiliate occurs during the time period
                                beginning 12 months prior to the
                                Application deadline and ending with the
                                FY 2025 award announcement.
                                The CDFI Fund will not consider
                                any Applicant that has defaulted on a
                                loan from the CDFI Fund within five
                                years of the Application deadline.
Debarment/Do Not Pay            The CDFI Fund will contact the
 Verification.                  Do Not Pay Business Center to conduct a
                                debarment check on the Applicant. The
                                CDFI Fund will not consider any
                                Applicant that is debarred.
                                If the Do Not Pay Business
                                Center reports that the Applicant has a
                                pending or delinquent debt to the
                                Federal Government, the Applicant will
                                be required to demonstrate that it has
                                resolved such pending or delinquent
                                debt. Applicants that fail to
                                demonstrate resolution of the pending or
                                delinquent Federal debt will be found
                                ineligible to receive an award.
                                In the case where a Depository
                                Institution Holding Company Applicant
                                intends to carry out the activities of
                                an award through its Subsidiary Insured
                                Depository Institution, the above
                                debarment requirements apply both to the
                                Depository Institution Holding Company
                                and its Subsidiary Insured Depository
                                Institution.
                                The Do Not Pay Business Center
                                was developed to support Federal
                                agencies in their efforts to reduce the
                                number of improper payments made through
                                programs funded by the Federal
                                Government.
------------------------------------------------------------------------
* This requirement also applies to Subsidiary Insured Depository
  Institutions that will carry out award activities on behalf of
  Depository Institution Holding Company Applicants.

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

    \10\ Depository Institution Holding Company or DIHC means a Bank 
Holding Company or a Savings and Loan Holding Company.

[[Page 6060]]

           Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI Certification status....  (1) Emerging CDFIs (see definition in
                                table 5), or
                               (2) Certified CDFIs (see table 5) that
                                meet the following SECA Applicant
                                criteria:
                               (a) Have total assets as of the end of
                                the Applicant's most recent historic
                                fiscal year in accordance with the TA
                                Application Guidance (as stated in the
                                Applicant's AMIS account and verified by
                                internally prepared financial statements
                                and/or audits) in the following amounts:
                                Insured Depository Institutions
                                and Depository Institution Holding
                                Companies: up to $250 million;
                                Insured Credit Unions and State-
                                Insured Credit Unions: up to $100
                                million;
                                Venture Capital Funds**: up to
                                $5 million;
                                Other CDFIs: up to $5 million;
                                OR
                               (b) Have begun operations (as indicated
                                by the financing activity start date
                                field in the Applicant's AMIS account)
                                on or after January 1, 2021.
                               If a TA Applicant is a Certified CDFI at
                                the time of Application but loses its
                                CDFI Certification at any point prior to
                                the award announcement, the Application
                                will be deemed ineligible and no longer
                                be considered for an award by the CDFI
                                Fund.
Matching Funds...............   Matching Funds documentation is
                                not required for TA awards.
Limitation on Awards.........   An Emerging CDFI may not receive
                                a TA award if it has previously received
                                three or more TA awards in the preceding
                                ten fiscal years.
$5 Million funding cap.......   The CDFI Fund is prohibited from
                                obligating more than $5 million in CDFI
                                and NACA Program awards, in the
                                aggregate, to any one organization and
                                its Subsidiaries and Affiliates during
                                any three-year period from the
                                announcement date.
                                The CDFI Fund will include CDFI
                                and NACA Program final awards in the cap
                                calculation that were provided to an
                                Applicant (and/or its Subsidiaries or
                                Affiliates) under the FY 2024 funding
                                round, as well as the requested FY 2025
                                award. The $5 million funding cap
                                includes TA, Base-FA, PPC-FA, and HP-FA
                                awards, but excludes DF-FA and HFFI-FA
                                awards.
Proposed Activities..........   Applicants must propose to
                                directly undertake eligible activities
                                with TA awards. For example, an
                                uncertified CDFI Applicant must propose
                                to become Certified as part of its
                                Application and a Certified CDFI
                                Applicant must propose activities that
                                build its capacity to serve its Target
                                Market or an Eligible Market.
                                Applicants may not propose to
                                use a TA award to create a separate
                                legal entity to become a Certified CDFI
                                or otherwise carry out the TA award
                                activities.
Regulated Institution........   Each Regulated Institution TA
                                Applicant must have a CAMELS/CAMEL
                                rating (rating for Insured Depository
                                Institutions and Credit Unions,
                                respectively) or equivalent type of
                                rating by its regulator (collectively
                                referred to as ``CAMELS/CAMEL rating'')
                                of at least ``4.''
                                TA Applicants with CAMELS/CAMEL
                                ratings of ``5'' will not be eligible
                                for awards.
                                In the case of a Depository
                                Institution Holding Company Applicant
                                that intends to carry out the award
                                through a Subsidiary Insured Depository
                                Institution, the CAMELS/CAMEL rating
                                eligibility requirements noted above
                                apply to both the Depository Institution
                                Holding Company Applicant, as well as
                                the Subsidiary Insured Depository
                                Institution.
                                The CDFI Fund will not approve a
                                TA award for an Insured Depository
                                Institution Applicant that has a
                                Community Reinvestment Act (CRA)
                                assessment rating of below
                                ``Satisfactory'' on its most recent
                                examination.
                                In the case of a Depository
                                Institution Holding Company Applicant
                                that intends to carry out the award
                                through a Subsidiary Insured Depository
                                Institution, the CDFI Fund will not
                                approve a TA award if the Subsidiary
                                Insured Depository Institution has a
                                Community Reinvestment Act (CRA)
                                assessment rating of below
                                ``Satisfactory'' on its most recent
                                examination.
                                The CDFI Fund will also evaluate
                                material concerns identified by the
                                Appropriate Federal Banking Agency in
                                determining the eligibility of Regulated
                                Institution Applicants.
------------------------------------------------------------------------
** A Venture Capital Fund is an organization that predominantly invests
  funds in businesses, typically in the form of either Equity
  Investments or subordinated debt with equity features such as a
  revenue participation or warrants, and generally seeks to participate
  in the upside returns of such businesses in an effort to at least
  partially offset the risk of its investments.

           Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
CDFI Certification status....   Each FA Applicant must be a
                                Certified CDFI as of the publication
                                date of this NOFA in the Federal
                                Register.
                                In the case of a Depository
                                Institution Holding Company Applicant
                                that intends to carry out the award
                                through a Subsidiary Insured Depository
                                Institution, both the Depository
                                Institution Holding Company and its
                                Subsidiary Insured Depository
                                Institution must be Certified CDFIs as
                                of the publication date of this NOFA in
                                the Federal Register.
                                The CDFI Fund will consider an
                                Application submitted by an Applicant
                                that has pending noncompliance issues
                                with its Annual Certification and Data
                                Collection Report (ACR) if the CDFI Fund
                                has not yet made a final compliance
                                determination.
                                If a Certified CDFI loses its
                                CDFI Certification at any point prior to
                                the award announcement, the Application
                                will be deemed ineligible and no longer
                                be considered for an award by the CDFI
                                Fund.
Matching Funds documentation.   Native American CDFIs are not
                                required to provide Matching Funds.
                                Applicants that are required to
                                submit Matching Funds (see table 9) must
                                submit acceptable documentation
                                attesting that they have received or
                                will receive Matching Funds. Applicants
                                that do not complete the Matching Funds
                                section in the FA Application in AMIS,
                                documenting the source(s) of their
                                Matching Funds, will not be evaluated.
                                See table 9 for additional information
                                on Matching Funds requirements for FY
                                2025 Funding Round. The Matching Funds
                                requirement for Category I (SECA) FA
                                Applicants and HFFI-FA Applicants was
                                waived in the final FY 2024
                                appropriations, and the final FY 2025
                                appropriations are still pending.
                                Therefore HFFI-FA and SECA FA applicants
                                are not required to submit Matching
                                Funds for their award requests at the
                                time of Application. However, the CDFI
                                Fund reserves the right to request
                                Matching Funds from Category I (SECA) FA
                                and HFFI-FA Applicants if Matching Funds
                                are not waived in the final FY 2025 CDFI
                                Program appropriations. Category II
                                (Core) FA Applicants must document their
                                Matching Funds in the Matching Funds
                                section in the FA Application in AMIS.
                                Matching Funds information provided in
                                another format will not be considered.
                                Unless Congress waives the
                                Matching Funds requirement, awards will
                                be limited to no more than two times the
                                amount of In-Hand or Committed Matching
                                Funds documentation provided at the time
                                of Application (or for Category I (SECA)
                                FA and HFFI-FA Applicants, upon request
                                if applicable). See table 9 for the
                                definitions of Committed and In-Hand.
                                Unless Congress waives the
                                Matching Funds requirement, awards will
                                be obligated in like form to the
                                Matching Funds provided at time of
                                Application (or for Category I (SECA) FA
                                and HFFI-FA Applicants, upon request if
                                applicable). See table 9. Matching Funds
                                ``Determination of Award Form'' for
                                additional guidance.
                                Unless Congress waives the
                                Matching Funds requirement, award
                                payments from the CDFI Fund will require
                                eligible dollar-for-dollar In-Hand
                                Matching Funds for the total payment
                                amount. Recipients will not receive a
                                payment until 100% of their Matching
                                Funds are In-Hand.
                                Unless Congress waives the
                                Matching Funds requirement, the CDFI
                                Fund will reduce and de-obligate the
                                remaining balance of any award that does
                                not demonstrate full dollar-for-dollar
                                Matching Funds equal to the announced
                                award amount by the end of the Matching
                                Funds Window.

[[Page 6061]]

 
Consideration as a Native       For consideration as a Native
 American CDFI.                 American CDFI under this NOFA, an FA
                                Applicant must Primarily Serve a Native
                                Community. Primarily Serves is defined
                                as 50% or more of an Applicant's
                                activities being directed to a Native
                                Community.
                                For purposes of this NOFA, a
                                Native Community is defined as Native
                                American, Alaska Native, or Native
                                Hawaiian populations or Native American
                                areas defined as federally-designated
                                reservations, Hawaiian homelands, Alaska
                                Native Villages and U.S. Census Bureau-
                                designated Tribal Statistical Areas.
                                Applicants that do not meet the
                                above conditions will not be considered
                                as a Native American CDFI under this
                                NOFA.
                                The Indian Community Economic
                                Enhancement Act of 2020 (Pub. L. 116-
                                261) permanently waived the Matching
                                Funds requirements for Native American
                                CDFIs. Therefore, if the CDFI Fund
                                determines that a Category II (Core) FA
                                Applicant that attests in its
                                Application to meeting the above
                                conditions does not meet the criteria to
                                be considered a Native American CDFI,
                                the Application will be deemed
                                ineligible for failure to provide
                                Matching Funds.
$5 Million funding cap.......   The CDFI Fund is prohibited from
                                obligating more than $5 million in CDFI
                                and NACA Program awards, in the
                                aggregate, to any one organization and
                                its Subsidiaries and Affiliates during
                                any three-year period from the
                                announcement date.
                                The CDFI Fund will include CDFI
                                and NACA Program final awards in the cap
                                calculation that were awarded to an
                                Applicant (and/or its Subsidiaries or
                                Affiliates) under the FY 2024 funding
                                round, as well as the requested FY 2025
                                award. The $5 million funding cap
                                includes TA, Base-FA, PPC-FA, and HP-FA
                                awards but excludes DF-FA and HFFI-FA
                                awards.
FA Category I (SECA).........   To be an eligible SECA
                                Applicant, an Applicant must meet the
                                following criteria:
                               (1) Be a Certified CDFI as defined in
                                table 5;
                               (2) Request $700,000 or less in Base-FA
                                award funds; AND EITHER
                               (3) Have total assets as of the end of
                                the Applicant's most recent historic
                                fiscal year in accordance with the FA
                                Application Guidance (as stated in the
                                Applicant's AMIS account and verified by
                                internally prepared financial statements
                                and/or audits) in the following amounts:
                                Insured Depository Institutions
                                and Depository Institution Holding
                                Companies: up to $250 million;
                                Insured Credit Unions and State-
                                Insured Credit Unions: up to $100
                                million;
                                Venture Capital Funds: up to $5
                                million;
                                Other CDFIs: up to $5 million;
                                OR
                                Have begun operations (as
                                indicated by the financing activity
                                start date field in the Applicant's AMIS
                                account) on or after January 1, 2021.
FA Category II (Core)........   A Core Applicant must be a
                                Certified CDFI as defined in table 5.
                                An Applicant that meets the SECA
                                requirements stated above, and that
                                requests more than $700,000 in Base-FA
                                award funds is categorized as an FA
                                Category II (Core) Applicant, regardless
                                of its total assets and/or years in
                                operation.
                                Such Applicants who meet SECA
                                requirements but wish to apply as a Core
                                FA Applicant by requesting more than
                                $700,000 must elect to apply as a Core
                                Applicant upon Application launch in
                                AMIS. The CDFI Fund will not change the
                                Application type (Core FA or SECA FA)
                                after the Application has been launched
                                by the Applicant.
FA Applicants with Community    A CDFI Applicant can apply for
 Partners.                      assistance jointly with a Community
                                Partner. The CDFI Applicant must
                                complete the CDFI Program Application
                                and address the Community Partnership in
                                its business plan and other sections of
                                the Application as specified in the
                                Application materials.
                                The CDFI Applicant must be a
                                Certified CDFI as defined in table 5.
                                An Application with a Community
                                Partner must:
                               o Describe how the CDFI Applicant and
                                Community Partner will each participate
                                in the partnership and how the
                                partnership will enhance eligible
                                activities serving the Investment Area
                                and/or Targeted Population.
                               o Demonstrate that the Community
                                Partnership activities are consistent
                                with the strategic plan submitted by the
                                CDFI Applicant.
                                Assistance provided upon
                                approval of an Application with a
                                Community Partner shall only be
                                entrusted to the CDFI Applicant and
                                shall not be used to fund any activity
                                carried out directly by the Community
                                Partner or an Affiliate or Subsidiary
                                thereof.
                                Applicants for HP-FA only (with
                                no Base-FA request) are not eligible to
                                apply with a Community Partner. Only
                                Certified CDFIs may apply for HP-FA only
                                (with no Base-FA request).
Regulated Institution........   Each Regulated Institution FA
                                Applicant must have a CAMELS/CAMEL
                                rating (rating for Insured Depository
                                Institutions and Credit Unions,
                                respectively) or equivalent type of
                                rating by its regulator (collectively
                                referred to as ``CAMELS/CAMEL rating'')
                                of at least ``3.''
                                FA Applicants with CAMELS/CAMEL
                                ratings of ``4'' or ``5'' will not be
                                eligible for awards.
                                In the case of a Depository
                                Institution Holding Company Applicant
                                that intends to carry out the award
                                through a Subsidiary Insured Depository
                                Institution, the CAMELS/CAMEL rating
                                eligibility requirements noted above
                                apply to both the Depository Institution
                                Holding Company Applicant, as well as
                                the Subsidiary Insured Depository
                                Institution.
                                The CDFI Fund will not approve
                                an FA award for an Insured Depository
                                Institution Applicant that has a
                                Community Reinvestment Act (CRA)
                                assessment rating of below
                                ``Satisfactory'' on its most recent
                                examination.
                                In the case of a Depository
                                Institution Holding Company Applicant
                                that intends to carry out the award
                                through a Subsidiary Insured Depository
                                Institution, the CDFI Fund will not
                                approve an FA award if the Subsidiary
                                Insured Depository Institution has a
                                Community Reinvestment Act (CRA)
                                assessment rating of below
                                ``Satisfactory'' on its most recent
                                examination.
                                The CDFI Fund will also evaluate
                                material concerns identified by the
                                Appropriate Federal Banking Agency in
                                determining the eligibility of Regulated
                                Institution Applicants.
PPC-FA.......................   All PPC-FA Applicants must:
                               o Submit a CDFI or NACA Program FA
                                Application;
                               o Meet all FA award eligibility
                                requirements;
                               o Submit the PPC-FA Application; and
                               o Provide a PPC-FA award request amount
                                in AMIS.
DF-FA........................   All DF-FA Applicants must:
                               o Submit a CDFI or NACA Program FA
                                Application;
                               o Meet all FA award eligibility
                                requirements;
                               o Submit the DF-FA Application; and
                               o Provide a DF-FA award request amount in
                                AMIS.
HFFI-FA......................   All HFFI-FA Applicants must:
                               o Submit a CDFI or NACA Program FA
                                Application;
                               o Meet all FA award eligibility
                                requirements;
                               o Submit the HFFI-FA Application; and
                               o Provide a HFFI-FA award request amount
                                in AMIS.

[[Page 6062]]

 
HP-FA........................   Applicants applying for only HP-
                                FA (with no Base-FA request) must:
                               o Submit a CDFI or NACA Program FA
                                Application;
                               o Meet all FA award eligibility
                                requirements;
                               o Indicate intention to apply for only HP-
                                FA in the CDFI or NACA Program FA
                                Application;
                               o Submit the Excel HP-FA Application;
                               o Have a track record of having financed
                                Housing in each of the last 3 historic
                                fiscal years; and
                               o Provide an HP-FA award request amount.
                                Applicants applying for HP-FA as
                                a supplement to Base-FA request must:
                               o Submit a CDFI or NACA Program FA
                                Application;
                               o Meet all FA award eligibility
                                requirements;
                               o Indicate intention to apply for both a
                                Base-FA award and an HP-FA award in the
                                CDFI Program or NACA Program FA
                                Application;
                               o Submit the Excel HP-FA Application;
                               o Have a track record of having financed
                                Housing in each of the last 3 historic
                                fiscal years; and
                               o Provide an HP-FA award request amount.
------------------------------------------------------------------------

    B. Matching Funds Requirements: In order to receive a Base-FA, PPC-
FA, or DF-FA award, an Applicant must provide evidence of eligible 
dollar-for-dollar Matching Funds and attest that it can provide 
acceptable documentation upon the CDFI Fund's request as part of the 
Application, unless Congress waives the Matching Funds requirement. The 
Matching Funds requirement was permanently waived for Native American 
CDFIs. Therefore, Native American CDFI Applicants are not required to 
submit Matching Funds for their award requests. HP-FA Applicants are 
not required to submit Matching Funds for their HP-FA award requests. 
The Matching Funds requirement was waived for Category I (SECA) FA 
Applicants and HFFI-FA Applicants in the final appropriations bill for 
FY 2024, and the final FY 2025 appropriations are still pending for 
this funding round. As a result, Category I (SECA) FA Applicants and 
HFFI-FA Applicants are not required to submit Matching Funds for their 
award requests at the time of Application. However, the CDFI Fund 
reserves the right to request Matching Funds from Category I (SECA) FA 
Applicants and HFFI-FA Applicants if Matching Funds are not waived in 
the final FY 2025 CDFI Program appropriations. An Applicant that 
represents that it has Equity Investments and/or deposits Matching 
Funds In-Hand at the time of Application submission must provide 
documentation of such as part of the Application (or for Category I 
(SECA) FA and HFFI-FA Applicants, upon request if applicable). An 
Applicant that uses retained earnings as Matching Funds must provide 
supporting documentation of In-Hand and/or Committed Matching Funds at 
the time of Application submission. The CDFI Fund will review Matching 
Funds information, attestations, and supporting Matching Funds 
documentation, if applicable, prior to award payment and will pay award 
funds to a Recipient based upon eligible In-Hand Matching Funds. The 
CDFI Fund encourages Applicants to review the Regulations, the Uniform 
Administrative Requirements, and the Matching Funds guidance materials 
available on the CDFI Fund's website. Table 9 provides a summary of the 
Matching Funds requirements for Applicants for whom Matching Funds are 
required. The Matching Funds requirement for Native American CDFIs is 
permanently waived. Additional details are set forth in the Application 
materials.

                 Table 9--Matching Funds Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
In-Hand Matching Funds          Matching Funds are In-Hand when
 definition.                    the Applicant receives payment for the
                                Matching Funds from the Matching Funds
                                source and has acceptable documentation
                                that can be provided to the CDFI Fund
                                upon request. Acceptable In-Hand
                                documentation must show the source, form
                                (e.g., grant, loan, deposit, and Equity
                                Investment), amount received, and the
                                date the funds came into physical
                                possession of the Applicant.
                                The following documentation,
                                depending on the Matching Funds type,
                                must be provided to the CDFI Fund upon
                                request:
                                loan--the loan agreement and/or
                                promissory note;
                                grant--the grant letter or
                                agreement;
                                Equity Investment--the stock
                                certificate, documentation of total
                                equity outstanding, and shareholder
                                agreement;
                                retained earnings--Retained
                                Earnings Calculator and audited
                                financial statements or call reports
                                from regulating entity for each fiscal
                                year reported in the Retained Earnings
                                Calculator;
                                third party in-kind contribution-
                                 evidence of receipt of contribution and
                                valuation;
                                deposits--certificates of
                                deposit agreement;
                                secondary capital--secondary
                                capital agreement and disclosure and
                                acknowledgement statement; AND
                                clearly legible documentation
                                that demonstrates actual receipt of the
                                Matching Funds including the date of the
                                transaction and the amount, such as a
                                copy of a check or a wire transfer
                                statement.
                                Unless Congress waives the
                                Matching Funds requirement, Applicants
                                must provide information on their In-
                                Hand Matching Funds in the Matching
                                Funds section of the FA Application in
                                AMIS (refer to table 10--Required
                                Application Documents) at the time of
                                Application submission.
                                Although Applicants are not
                                required to provide further
                                documentation for In-Hand Matching Funds
                                at the time of Application submission
                                (other than supporting documentation for
                                retained earnings, deposits, and Equity
                                Investments, which must be provided at
                                the time of Application submission),
                                they must be able to provide
                                documentation to the CDFI Fund upon
                                request.
Matching Funds requirements    The following Applicants must provide
 by Application type.           evidence of acceptable Matching Funds at
                                the time of Application:
                                Category II/Core FA Applicants,
                                with the exception of Native American
                                CDFIs, applying for Base-FA, PPC-FA, and
                                DF-FA.
                               The CDFI Fund reserves the right to
                                request Matching Funds from Category I
                                (SECA) FA Applicants and HFFI-FA
                                Applicants if Matching Funds are not
                                waived in the final FY 2025 CDFI Program
                                appropriations.
                               TA Applicants and Native American CDFI FA
                                Applicants are not required to provide
                                Matching Funds. Matching Funds are also
                                not required for award requests under HP-
                                FA.
Amount of required match.....  Unless waived by Congress, Applicants
                                must provide evidence of eligible, In-
                                Hand, dollar-for-dollar, non-Federal
                                Matching Funds for every award dollar to
                                be paid by the CDFI Fund. If awarded,
                                Applicants that do not demonstrate 100%
                                In-Hand Matching Funds at the time of
                                Application submission may experience a
                                longer payment timeline.

[[Page 6063]]

 
Determination of award form..  Unless the Matching Funds requirement is
                                waived by Congress, awards will be made
                                in comparable form and value to the
                                eligible In-Hand and/or Committed
                                Matching Funds submitted by the
                                Applicant. For awards where Congress has
                                waived the Matching Funds requirement,
                                the form of the award will be a grant.
                                For example, if an Applicant
                                provides documentation of eligible loan
                                Matching Funds for $200,000 and eligible
                                grant Matching Funds of $400,000, the
                                CDFI Fund will obligate $200,000 of the
                                FA award as a loan and $400,000 as a
                                grant.
                                The CDFI Fund will not permit a
                                Recipient to change the form of a loan
                                award.
For awards where Congress
 waives the Matching Funds
 requirement, the form of the
 award will be a grant.
Matching Funds Window           The Applicant must receive
 definition.                    eligible In-Hand Matching Funds between
                                January 1, 2023 and January 15, 2026.
                                A Recipient must provide the
                                CDFI Fund with all documentation
                                demonstrating the receipt of In-Hand
                                Matching Funds by January 31, 2026 or a
                                later date as specified by the CDFI
                                Fund.
Matching Funds and form of      Recipients will be approved for
 award.                         a maximum award size of two times the
                                total amount of eligible In-Hand and/or
                                Committed Matching Funds included in the
                                Application (or for Category I (SECA) FA
                                and HFFI-FA Applicants, upon request if
                                applicable), so long as they do not
                                exceed the requested award amount.
                                The form of the Matching Funds
                                documented in the Application determines
                                the form of the award.
Committed Matching Funds        Matching Funds are Committed
 definition.                    when the Applicant has entered into or
                                received a legally binding commitment
                                from the Matching Funds source
                                demonstrating that the Matching Funds
                                will be disbursed to the Applicant at a
                                future date.
                                The Applicant must provide
                                information on their Committed Matching
                                Funds in the Matching Funds section of
                                the FA Application in AMIS (refer to
                                table 10--Required Application
                                Documents) at the time of Application
                                submission.
                                Although the Applicant is not
                                required to provide further
                                documentation for Committed Matching
                                Funds at the time of Application
                                submission (other than supporting
                                documentation for retained earnings,
                                deposits, and Equity Investments, which
                                must be provided at the time of
                                Application submission), it must be able
                                to provide the CDFI Fund, upon request,
                                acceptable written documentation showing
                                the source, form, and amount of the
                                Committed Matching Funds (including, in
                                the case of a loan, the terms thereof),
                                as well as the anticipated payment date
                                of the Committed Matching Funds.
Limitations on Matching Funds   Matching Funds must be from non-
                                Federal sources.
                                Applicants cannot proffer
                                Matching Funds that were accepted as
                                Matching Funds for a prior award that
                                required Matching Funds under the CDFI
                                Program, NACA Program, or under another
                                Federal grant or award program.
                                Matching Funds must comply with
                                the Regulations.
                                The Matching Funds source(s)
                                must support at least one of the
                                eligible FA activities (see Section II
                                (C) of this NOFA).
Rights of the CDFI Fund......   The CDFI Fund reserves the right
                                to contact the Matching Funds source to
                                discuss the Matching Funds and the
                                documentation that the Applicant
                                provided.
                                The CDFI Fund may grant an
                                extension of the Matching Funds Window
                                (defined in table 9), on a case-by-case
                                basis, if the CDFI Fund deems it
                                appropriate.
                                The CDFI Fund reserves the right
                                to rescind all or a portion of an award
                                requiring Matching Funds and re-allocate
                                the rescinded award amount to other
                                qualified Applicant(s) if a Recipient
                                fails to provide evidence of In-Hand
                                Matching Funds obtained during the
                                Matching Funds Window totaling its award
                                amount.
Matching Funds in the form of   Third party in-kind
 third-party in-kind            contributions are non-cash contributions
 contributions.                 (i.e., property or services) provided by
                                non-Federal third parties to the
                                Applicant.
                                Third party in-kind
                                contributions will be deemed in the form
                                of a grant for Matching Funds purposes.
                                Third party in-kind
                                contributions may be in the form of real
                                property, equipment, supplies, and other
                                expendable property. The value of goods
                                and services must directly benefit the
                                eligible FA activities.
                                For third party in-kind
                                contributions, the fair market value of
                                goods and services must be documented as
                                the grant match.
                                Applicants will be responsible
                                for documenting the value of all in-kind
                                contributions pursuant to the Uniform
                                Administrative Requirements.
Matching Funds in the form of   An award made in the form of a
 a loan.                        loan will have the following
                                standardized terms:
                               i. A 13-year term with semi-annual
                                interest-only payments due in years 1
                                through 10, and fully amortizing
                                payments due each year in years 11
                                through 13; and
                               ii. A fixed interest rate of 4.04%, which
                                was calculated by the CDFI Fund based on
                                the U.S. Department of the Treasury's 10-
                                year Treasury note.
                                The Applicant's Matching Funds
                                loan(s) must:
                               i. have a minimum of a 3-year term (loans
                                presented as Matching Funds with less
                                than a 3-year term will not qualify as
                                eligible match); and
                               ii. be from a non-Federal source.
Matching Funds in the form of   An Equity Investment source must
 Equity Investments.            meet the terms outlined in 12 CFR
                                1805.401(a): Equity: The CDFI Fund may
                                make non-voting equity investments in a
                                Recipient, including, without
                                limitation, the purchase of non-voting
                                stock. Such stock shall be transferable
                                and, in the discretion of the CDFI Fund,
                                may provide for convertibility to voting
                                stock upon transfer. The CDFI Fund shall
                                not own more than 50 percent of the
                                equity of a Recipient and shall not
                                control its operations.
                                The CDFI Fund's ownership of
                                equity is calculated by dividing the
                                shares owned by the CDFI Fund by the
                                total number of shares issued by the
                                Recipient.
                                The CDFI Fund reserves the
                                right, in its sole discretion, to
                                perform its own valuation of Equity
                                Investment source(s) and to determine if
                                the equity value is acceptable to the
                                CDFI Fund.
Severe Constraints Waiver....   In the case of an Applicant
                                demonstrating severe constraints on
                                available sources of Matching Funds, the
                                CDFI Fund, in its sole discretion, may
                                provide a Severe Constraints Waiver,
                                which permits such Applicant to comply
                                with the Matching Funds requirements by
                                reducing such requirements by up to 50%.
                                In order to be considered
                                eligible for a Severe Constraints
                                Waiver, an Applicant must meet all of
                                the SECA eligibility criteria described
                                in table 8. Instructions for requesting
                                a Severe Constraints Waiver will be made
                                available if required.
                                No more than 25% of the total
                                funds available for obligation under
                                this funding round may qualify for a
                                Severe Constraints Waiver.
Ineligible Matching Funds....   Applicants will not be given the
                                opportunity to correct or amend the
                                Matching Funds information included in
                                the FA Application after Application
                                submission if the CDFI Fund determines
                                that any portion of the Applicant's
                                Matching Funds is ineligible.
Use of Matching Funds from a   If an Applicant offers Matching Funds
 prior CDFI Program Recipient.  documentation from an organization that
                                was a prior Recipient under the CDFI
                                Program or NACA Program, the Applicant
                                must be able to prove to the CDFI Fund's
                                satisfaction that such funds do not
                                consist, in whole or in part, of CDFI
                                Program funds, NACA Program funds, or
                                other Federal funds.

[[Page 6064]]

 
Matching Funds in the form of   Retained earnings are eligible
 retained earnings.             for use as Matching Funds in an amount
                                equal to the CDFI Fund's calculation of:
                               i. the increase in retained earnings that
                                occurred over any one of the Applicant's
                                fiscal years within the Matching Funds
                                Window; or
                               ii. the annual average of such increases
                                that occurred over any three consecutive
                                fiscal years of the Applicant with at
                                least one of the fiscal years occurring
                                within the Matching Funds Window.
                                Any increases as measured in (i)
                                and (ii) will be adjusted to remove
                                revenue and expenses derived from
                                Federal sources and Matching Funds used
                                for prior Federal awards.
                                Retained earnings will be
                                matched in the form of a grant.
                                Depository Institution Holding
                                Company Applicants must provide call
                                reports for the Depository Institution
                                Holding Company in order to verify their
                                retained earnings, even if the requested
                                award will support its Subsidiary
                                Insured Depository Institution.
Special rule for Regulated      A Regulated Institution's
 Institutions.                  retained earnings are eligible for use
                                as Matching Funds in an amount equal to
                                the CDFI Fund's calculation of:
                               i. the increase in retained earnings that
                                occurred over any one of the Applicant's
                                fiscal years within the Matching Funds
                                Window; or
                               ii. the annual average of such increases
                                that occurred over any three consecutive
                                fiscal years of the Applicant with at
                                least one of the fiscal years occurring
                                within the Matching Funds Window; or
                               iii. the entire retained earnings that
                                have been accumulated since the
                                inception of the Applicant, as provided
                                in the Regulations.
                                Any increases as measured in (i)
                                and (ii) will be adjusted to remove
                                revenue and expenses derived from
                                Federal sources and Matching Funds used
                                for prior Federal awards.
                                If option (iii) is used for
                                Insured Credit Unions or State-Insured
                                Credit Unions, the Applicant must
                                increase its member and/or non-member
                                shares and/or total loans outstanding by
                                an amount equal to the amount of
                                retained earnings committed as Matching
                                Funds.
                                This increase (1) will be
                                measured on a quarterly basis from March
                                31, 2025; (2) must occur by December 31,
                                2026; and (3) will be based on amounts
                                reported in the Applicant's National
                                Credit Union Administration (NCUA) form
                                5300 Call Report, or equivalent.
                                The CDFI Fund will assess the
                                likelihood of this increase during the
                                Application review process.
                                An award will not be made to any
                                Applicant that has not demonstrated in
                                the relevant NCUA form 5300 call reports
                                or equivalent that it has increased
                                shares and/or total loans outstanding by
                                at least 25% of the requested FA award
                                amount (including all awards requiring
                                Matching Funds) between December 31,
                                2023, and December 31, 2024.
                                The Matching Funds are not In-
                                Hand until the Recipient has increased
                                its member and/or non-member shares,
                                deposits and/or total loans outstanding
                                by the amount of retained earnings since
                                inception that are being used as
                                Matching Funds.
                                If option (iii) is used for
                                Insured Depository Institutions or
                                Depository Institution Holding
                                Companies, the Applicant, or its
                                Subsidiary Insured Depository
                                Institution (in the case of a Depository
                                Institution Holding Company), must
                                increase deposits and/or total loans
                                outstanding by an amount equal to the
                                amount of retained earnings committed as
                                Matching Funds. Depository Institution
                                Holding Company Applicants must use the
                                call reports of the Subsidiary Insured
                                Depository Institution that the
                                requested FA award will support.
                                This increase (1) will be
                                measured on a quarterly basis from March
                                31, 2025; (2) must occur by December 31,
                                2026; and (3) will be based on amounts
                                reported in the call report.
                                The CDFI Fund will assess the
                                likelihood of this increase during the
                                Application review process.
                                An award will not be made to any
                                Applicant that has not demonstrated in
                                the relevant call reports that it has
                                increased deposits and/or total loans
                                outstanding by at least 25% of the
                                requested FA award amount (including all
                                awards requiring Matching Funds) between
                                December 31, 2023, and December 31,
                                2024.
                                The Matching Funds are not In-
                                Hand until the Recipient has increased
                                its deposits and/or total loans
                                outstanding by the amount of retained
                                earnings since inception that are being
                                used as Matching Funds.
                                All regulated Applicants
                                utilizing the option (iii) should refer
                                to the Retained Earnings Guidance
                                included in the Retained Earnings
                                Calculator Excel Workbook found on the
                                CDFI Fund's website.
------------------------------------------------------------------------
* The requirements set forth in table 9 are applicable to Category II
  (Core) FA Applicants, with the exception of Native American CDFIs,
  applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds
  requirements were permanently waived for Native American CDFIs.
  Therefore, the requirements set forth in table 9 are not applicable to
  Native American CDFI Applicants for the FY 2025 Funding Round.
  Category I (SECA) FA Applicants and HFFI-FA Applicants are not
  required to submit Matching Funds at the time of Application
  submission, but the CDFI Fund reserves the right to request Matching
  Funds from these Applicants if the Matching Funds requirement is not
  waived in the final FY 2025 CDFI Program appropriations. Matching
  Funds are not required for award requests under HP-FA.

IV. Application and Submission Information

    A. Address to Request an Application Package: Application materials 
can be found on the CDFI Fund's website at https://www.cdfifund.gov/cdfi. Applicants may request a paper version of any Application 
material by contacting the CDFI Fund Help Desk at 
[email protected]. Paper versions of Application materials will 
only be provided if an Applicant cannot access the CDFI Fund's website.
    B. Content and Form of Application Submission: All Applications 
must be prepared using the English language, and calculations must be 
computed in U.S. dollars. The following table lists the Required 
Application Documents for the FY 2025 Funding Round. The CDFI Fund 
reserves the right to request and review other pertinent or public 
information that has not been specifically requested in this NOFA or 
the Application. Information submitted by the Applicant that the CDFI 
Fund has not specifically requested will not be reviewed or considered 
as part of the Application. Financial data, portfolio, and activity 
information provided in the Application should only include the 
Applicant's activities. Information submitted must accurately reflect 
the Applicant's activities (other than Depository Institution Holding 
Companies--see table 6).

                Table 10--Required Application Documents
------------------------------------------------------------------------
      Application documents         Applicant type     Submission format
------------------------------------------------------------------------
Active AMIS Account.............  All Applicants....  AMIS.
SF-424..........................  All Applicants....  Fillable PDF in
                                                       Grants.gov.
Title VI Compliance Worksheet *.  All Applicants....  AMIS.

[[Page 6065]]

 
CDFI Program Application          All Applicants....  AMIS.
 Components:.
 Funding Application
 Detail.
 Data, Charts, and
 Narrative sections as listed in
 AMIS and outlined in
 Application materials.
 Matching Funds (FA Core
 Applicants, with the exception
 of Native American CDFIs).
PPC-FA Application Components:..  PPC-FA Applicants.  AMIS.
 Funding Application
 Detail.
 Narratives.............
 AMIS Charts............
DF-FA Application Components:...  DF-FA Applicants..  AMIS.
 Funding Application
 Detail.
 Narratives.............
 AMIS Charts............
HFFI-FA Application Components:.  HFFI-FA Applicants  AMIS.
 Funding Application
 Detail.
 Narratives.............
 AMIS charts............
HP-FA Application Components:     HP-FA Applicants..  Attachment to AMIS
 The Excel HP-FA Application                           Service Request.
 will not be completed as part
 of the AMIS Application. The
 Application component is
 anticipated to be released at a
 later date than the other
 Application components under
 this NOFA and will be due at a
 later date, as noted in table
 1. Applicants will be provided
 at least 30 days to complete
 the Excel HP-FA Application
 which will be an Excel
 spreadsheet that contains two
 sections:.
 Narratives.............
 Tables.................
Attachments to the Application:
    Key Staff Resumes...........  All Applicants....  PDF or Word
                                                       document in AMIS.
    Organizational Chart........  All Applicants....  PDF in AMIS.
Completed, final audited          FA Applicants and   PDF in AMIS.
 financial statements for the      TA Applicants, if
 Applicant's Three Most Recent     available: loan
 Historic Fiscal Years.            funds, Venture
                                   Capital Funds,
                                   and other non-
                                   Regulated
                                   Institutions.
Unaudited financial statements    FA and TA           PDF in AMIS.
 for Applicant's Three Most        Applicants, if
 Recent Historic Years (required   available: loan
 if available, and only if         funds, Venture
 audited financial statements      Capital Funds,
 are not available).               and other non-
                                   Regulated
                                   Institutions.
Community Partnership Agreement.  FA Applicants, if   PDF or Word
                                   applicable.         document in AMIS.
Retained Earnings Calculator      FA Core             Excel Workbook in
 Excel Workbook (required only     Applicants, if      AMIS. Applicants
 if using retained earnings as     applicable.         must submit CDFI
 Matching Funds).                                      Fund-provided
                                                       template in the
                                                       original format
                                                       (.xlsm).
Call reports for each fiscal      FA Core             PDF in AMIS.
 year reported in the Retained     Applicants:
 Earnings Calculator.              Regulated
                                   Institutions that
                                   are using
                                   retained earnings
                                   as Matching Funds.
Equity Investment Matching Funds  FA Core             PDF or Word
 Documentation.                    Applicants: For-    document in AMIS.
                                   profit CDFIs that
                                   are using In-Hand
                                   Equity
                                   Investment(s) as
                                   Matching Funds.
Deposits Matching Funds           FA Core             PDF or Word
 Documentation.                    Applicants:         document in AMIS.
                                   Regulated
                                   Institutions that
                                   are using In-Hand
                                   Deposits as
                                   Matching Funds.
------------------------------------------------------------------------
* This requirement also applies to Subsidiary Insured Depository
  Institutions that will carry out award activities on behalf of
  Depository Institution Holding Company Applicants.

    C. Application Submission: The CDFI Fund has a multiple step 
process that requires the submission of Required Application Documents 
(listed in table 10) on separate deadlines and locations. The SF-424 
must be submitted through Grants.gov and all other Required Application 
Documents through the CDFI Fund's Award Management Information System 
(AMIS). The CDFI Fund will not accept Applications via email, mail, 
facsimile, or other forms of communication, except in extremely rare 
circumstances that have been pre-approved in writing by the CDFI Fund. 
The deadlines for submitting the relevant Application materials are 
listed in table 1.
    First, all Applicants must register in the Grants.gov system to 
successfully submit the SF-424. The Grants.gov registration process can 
take 45 days or longer to complete and the CDFI Fund strongly 
encourages Applicants to start the Grants.gov registration process as 
early as possible (refer to the following link: https://www.grants.gov/register). Since the Grants.gov registration process requires 
Applicants to have a UEI and an EIN, Applicants without these required 
items should allow for additional time to complete the Grants.gov 
registration process. The CDFI Fund will not extend the Application 
deadline for any Applicant that started the Grants.gov registration 
process but did not complete it by the deadline. An Applicant that has 
previously registered with Grants.gov must verify that its registration 
is current and active. Applicants should contact Grants.gov directly 
with questions related to the registration or submission process as the 
CDFI Fund does not maintain the Grants.gov system.
    Each Application must be signed by a designated Authorized 
Representative in AMIS before it can be submitted. The Excel HP-FA 
Application must be submitted via a Service Request in AMIS by an 
Authorized Representative of the Applicant or an Application Point of 
Contact. Applicants must ensure that an Authorized Representative is an 
employee or officer and is authorized to sign legal documents on behalf 
of the Applicant. Consultants working on behalf of the Applicant may 
not be designated as Authorized Representatives. Only a designated 
Authorized Representative or Application Point of Contact, included in 
the Application, may submit the Application in AMIS. If an AMIS

[[Page 6066]]

Application is not submitted by an Authorized Representative or 
Application Point of Contact, the Application will be deemed 
ineligible.
    D. Unique Entity Identifier (UEI): The UEI has replaced the Dun and 
Bradstreet Data Universal Numbering System (DUNS) number. The UEI, 
generated in the System for Award Management (SAM.gov), has become the 
official identifier for doing business with the Federal Government. 
This transition allows the Federal Government to streamline the entity 
identification and validation process, making it easier and less 
burdensome for entities to do business with the Federal Government. If 
an entity is registered in SAM.gov today, its UEI has already been 
assigned and is viewable in SAM.gov, including inactive registrations. 
New registrants will be assigned a UEI as part of their SAM 
registration.
    E. System for Award Management (SAM): Any entity applying for 
Federal grants or other forms of Federal financial assistance through 
Grants.gov must be registered in SAM before submitting its Application. 
When accessing SAM.gov, users will be asked to create a Login.gov user 
account (if they don't already have one). Going forward, users will use 
their Login.gov username and password every time when logging into 
SAM.gov. Registration in SAM is required as part of the Grants.gov 
registration process. The SAM registration process may take one month 
or longer to complete. An original, signed notarized letter identifying 
the authorized entity administrator for the entity associated with the 
UEI is required. This requirement is applicable to new entities 
registering in SAM or an existing registration where there is no 
existing entity administrator. Existing entities with registered entity 
administrators do not need to submit an annual notarized letter. 
Applicants without an EIN should allow for additional time as an 
Applicant cannot register in SAM without an EIN. Applicants that have 
previously completed the SAM registration process must verify that 
their SAM accounts are current and active. Each Applicant must continue 
to maintain an active SAM registration with current information at all 
times during which it has an active Federal award or an Application 
under consideration by a Federal awarding agency. The CDFI Fund will 
deem ineligible any Applicant that fails to properly register or 
activate its SAM account and, as a result, is unable to submit the SF-
424 in Grants.gov or Application in AMIS by the applicable Application 
deadlines. These restrictions also apply to organizations that have not 
yet received a UEI or EIN by the established deadline. Applicants must 
contact SAM directly with questions related to registration or SAM 
account changes as the CDFI Fund does not maintain this system and has 
no ability to make changes or correct errors of any kind. For more 
information about SAM, visit https://www.sam.gov.

           Table 11_Grants.gov Registration Timeline Summary
------------------------------------------------------------------------
                                                            Estimated
             Step                       Agency           minimum time to
                                                            complete
------------------------------------------------------------------------
Obtain an EIN.................  Internal Revenue        Two (2) Weeks.*
                                 Service (IRS).
Register in SAM.gov...........  System for Award        Four (4) Weeks.*
                                 Management (SAM.gov).
                                 This step will
                                 include obtaining a
                                 UEI..
Register in Grants.gov........  Grants.gov............  One (1) Week.**
------------------------------------------------------------------------
* Applicants are advised that the stated durations are estimates only
  and represent minimum timeframes. Actual timeframes may take longer.
  The CDFI Fund will deem ineligible any Applicant that fails to
  properly register or activate its SAM account, has not yet received a
  UEI or EIN, and/or fails to properly register in Grants.gov.
** This estimate assumes an Applicant has a UEI, an EIN, and is already
  registered in SAM.gov.

F. Submission Instructions

    1. Submission Deadlines: Table 1 provides the critical deadlines 
for the FY 2025 Funding Round.
    2. Confirmation of Application Submission in Grants.gov and AMIS: 
Applicants are required to submit the SF-424, Application for Federal 
Assistance through the Grants.gov system, under the CDFI Program 
Funding Opportunity Number by the applicable deadline. All other 
Required Application Documents (listed in table 10) must be submitted 
through the AMIS website by the applicable deadline. Note, the Excel 
HP-FA Application will be submitted separately via a Service Request in 
AMIS by the date specified in table 1. Applicants must submit the SF-
424 prior to submitting the Application in AMIS. If the SF-424 is not 
successfully accepted by Grants.gov by the deadline, the CDFI Fund will 
not review the Application submitted in AMIS, and the Application will 
be deemed ineligible.
    a. Grants.gov Submission Information: Each Applicant will receive 
an email from Grants.gov immediately after submitting the SF-424 
confirming that the submission has entered the Grants.gov system. This 
email will contain a tracking number for the submitted SF-424. Within 
48 hours, the Applicant will receive a second email, which will 
indicate if the submitted SF-424 was either successfully validated or 
rejected with errors. However, Applicants should not rely on the email 
notification from Grants.gov to confirm that their SF-424 was 
validated. Applicants are strongly encouraged to use the tracking 
number provided in the first email to closely monitor the status of 
their SF-424 by contacting the helpdesk at Grants.gov directly. The 
Application material submitted in AMIS is not officially accepted by 
the CDFI Fund until Grants.gov has validated the SF-424.
    b. AMIS Submission Information: AMIS is a web-based system where 
Applicants will directly enter their Application information and add 
the required attachments listed in table 10. The Base-FA, PPC-FA, DF-
FA, HFFI-FA, and TA Application components will all be submitted as 
part of a single AMIS Application. AMIS will verify that the Applicant 
provided the minimum information required to submit an Application. 
Applicants are responsible for the quality and accuracy of the 
information and attachments included in the Application submitted in 
AMIS. The Excel HP-FA Application will be a fillable Excel spreadsheet 
and must be separately submitted as an attachment to a Service Request 
in AMIS. The CDFI Fund strongly encourages Applicants to allow for 
sufficient time to review and complete all Required Application 
Documents listed in table 10 and remedy any issues prior to the 
Application deadline. Each Application submitted in AMIS must be signed 
by an Authorized Representative listed in the organization's AMIS 
account before it can be submitted. Applicants must ensure that the

[[Page 6067]]

Authorized Representative is an employee or officer and is authorized 
to sign legal documents on behalf of the Applicant. Consultants working 
on behalf of the Applicant may not be designated as Authorized 
Representatives. Only an Authorized Representative or an Application 
Point of Contact may submit an Application. If an Application is not 
submitted by an Authorized Representative or Application Point of 
Contact, the Application will be deemed ineligible. Applicants may only 
submit one Base-FA or TA Application under the CDFI Program. Upon 
submission, the Application will be locked and cannot be resubmitted, 
edited, or modified in any way. The CDFI Fund will not unlock or allow 
multiple Application submissions.
    3. Late Submission or AMIS Account Creation: The CDFI Fund will not 
accept an Application if the SF-424 is not submitted and accepted by 
Grants.gov by the SF-424 deadline listed in table 1. Additionally, the 
CDFI Fund will not accept an Application if it is not signed by an 
Authorized Representative and submitted in AMIS by the Application 
deadline or if an Applicant did not submit the required Title VI 
Compliance Worksheet by the Application deadline listed in table 1. The 
CDFI Fund will also not accept an Application from an Applicant that 
failed to create an AMIS account by the deadlines specified in table 1. 
The CDFI Fund will not accept the Excel HP-FA Application if it is not 
submitted via a Service Request in AMIS by the deadline in table 1. In 
these cases, the CDFI Fund will not review any material submitted, and 
the Application will be deemed ineligible.
    However, in cases where a Federal Government administrative or 
technological error directly resulted in precluding an Applicant from 
submitting the SF-424, from submitting the AMIS Application, from 
submitting the Excel HP-FA Application, from creating an AMIS account, 
or from submitting the Title VI Compliance Worksheet by the deadlines 
stated in this NOFA, Applicants are provided the opportunity to submit 
a written request for acceptance of late submissions. Be aware that 
unexpected delay in a Federal Government process does not in and of 
itself constitute a Federal Government administrative or technological 
error. The CDFI Fund will only approve the late submission of the SF-
424, the AMIS Application, the Excel HP-FA Application, the Title VI 
Compliance worksheet, or the late creation of an AMIS account if the 
Applicant demonstrates that an unexpected delay was the direct result 
of a Federal Government administrative or technological error.
    a. Creation of AMIS Account: In cases where a Federal Government 
administrative or technological error directly resulted in precluding 
an Applicant from creating an AMIS account by the required deadline, 
the Applicant must submit a written request for approval to create its 
AMIS account after the deadline, and include documentation of the 
error, no later than two business days after the AMIS account creation 
deadline. The CDFI Fund will not respond to requests for creating an 
AMIS account after that time. Applicants must submit such request via 
an AMIS Service Request to the CDFI Program or an email to 
[email protected] with a subject line of ``AMIS Account Creation 
Deadline Extension Request.''
    b. SF-424 Late Submission: In cases where a Federal Government 
administrative or technological error directly resulted in precluding 
an Applicant from submitting the SF-424 by the required deadline, the 
Applicant must submit a written request for acceptance of the late SF-
424 submission and include documentation of the error no later than two 
business days after the SF-424 deadline. The CDFI Fund will not respond 
to requests for acceptance of late SF-424 submissions after that time 
period. Applicants must submit late SF-424 submission requests to the 
CDFI Fund via an AMIS Service Request to the CDFI Program with a 
subject line of ``Late SF-424 Submission Request.''
    c. Title VI Compliance Worksheet Late Submission: In cases where a 
Federal Government administrative or technological error directly 
precluded an Applicant from submitting the Title VI Compliance 
Worksheet by the required deadline, the Applicant must submit a written 
request for approval to submit the Worksheet after the deadline, and 
include documentation of the error, no later than two business days 
after the Title VI Compliance Worksheet submission deadline. The CDFI 
Fund will not respond to requests for submitting a Title VI Compliance 
Worksheet after that time. Applicants must submit such request via an 
AMIS Service Request to the CDFI Program with a subject line of ``CDFI 
Program--Title VI Compliance Worksheet Deadline Extension Request.''
    d. AMIS Application Late Submission, including Late Excel HP-FA 
Application Submission: In cases where a Federal Government 
administrative or technological error directly resulted in precluding 
an Applicant from submitting the Application in AMIS by the required 
deadline, the Applicant must submit a written request for acceptance of 
the late Application submission and include documentation of the error 
no later than two business days after the Application deadline. The 
CDFI Fund will not respond to requests for acceptance of late 
Application submissions after that time period. Applicants must submit 
late Application submission requests to the CDFI Fund via an AMIS 
Service Request to the CDFI Program with a subject line of ``Late 
Application Submission Request.''
    G. Funding Restrictions: Base-FA, PPC-FA, DF-FA, HFFI-FA, HP-FA, 
and TA awards are limited by the following:
    1. Base-FA Awards:
    a. A Recipient shall use Base-FA award funds only for the eligible 
activities described in Section II. (C)(1) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, Base-FA awards may not be used to support the activities 
of, or otherwise be passed through, transferred, or co-awarded to, 
third-party entities, whether Affiliates, Subsidiaries, or others, 
unless done pursuant to a merger or acquisition or similar transaction, 
and with the CDFI Fund's prior written consent.
    c. Base-FA award funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay Base-FA award 
funds in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.
    2. PPC-FA Awards:
    a. A Recipient shall use PPC-FA award funds only for the eligible 
activities described in Section II. (C)(5) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, PPC-FA awards may not be used to support the activities of, 
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless 
done pursuant to a merger or acquisition or similar transaction, and 
with the CDFI Fund's prior written consent.
    c. PPC-FA award funds shall only be paid to the Recipient.

[[Page 6068]]

    d. The CDFI Fund, in its sole discretion, may pay PPC-FA award 
funds in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.
    3. DF-FA Awards:
    a. A Recipient shall use DF-FA award funds only for the eligible 
activities described in Section II. (C)(2) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, DF-FA awards may not be used to support the activities of, 
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless 
done pursuant to a merger or acquisition or similar transaction, and 
with the CDFI Fund's prior written consent.
    c. DF-FA award funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay DF-FA award funds 
in amounts, or under terms and conditions, which are different from 
those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.
    4. HFFI-FA Awards:
    a. A Recipient shall use HFFI-FA award funds only for the eligible 
activities described in Section II. (C)(4) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, HFFI-FA awards may not be used to support the activities 
of, or otherwise be passed through, transferred, or co-awarded to, 
third-party entities, whether Affiliates, Subsidiaries, or others, 
unless done pursuant to a merger or acquisition or similar transaction, 
and with the CDFI Fund's prior written consent.
    c. HFFI-FA award funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay HFFI-FA award 
funds in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.
    5. HP-FA Awards:
    a. A Recipient shall use HP-FA award funds only for the eligible 
activities described in Section II. (C)(5) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, HP-FA awards may not be used to support the activities of, 
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless 
done pursuant to a merger or acquisition or similar transaction, and 
with the CDFI Fund's prior written consent.
    c. HP-FA award funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay HP-FA award funds 
in amounts, or under terms and conditions, which are different from 
those requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.
    6. TA Awards:
    a. A Recipient shall use TA award funds only for the eligible 
activities described in Section II. (C)(3) of this NOFA and its 
Assistance Agreement.
    b. With the exception of Depository Institution Holding Company 
Applicants, TA awards may not be used to support the activities of, or 
otherwise be passed through, transferred, or co-awarded to, third-party 
entities, whether Affiliates, Subsidiaries, or others, unless done 
pursuant to a merger or acquisition or similar transaction, and with 
the CDFI Fund's prior written consent.
    c. TA award funds shall only be paid to the Recipient.
    d. The CDFI Fund, in its sole discretion, may pay TA award funds in 
amounts, or under terms and conditions, which are different from those 
requested by an Applicant.
    e. The Recipient must comply, as applicable, with the Buy American 
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the 
Uniform Administrative Requirements, with respect to any Direct Costs.

V. Application Review Information

    A. Criteria: If the Applicant has submitted an eligible 
Application, the CDFI Fund will conduct a substantive review in 
accordance with the criteria and procedures described in the 
Regulations, this NOFA, the Application guidance, and the Uniform 
Administrative Requirements. The CDFI Fund reserves the right to 
contact the Applicant by telephone, email, or mail for the purpose of 
clarifying or confirming Application information. If contacted, the 
Applicant must respond within the time period communicated by the CDFI 
Fund or risk that its Application will be rejected. The CDFI Fund will 
review the Base-FA, DF-FA, PPC-FA, HFFI-FA, HP-FA, and TA Applications 
in accordance with the process below. All internal and external 
reviewers will complete the CDFI Fund's conflict of interest process.
    1. Base-FA Application Scoring, Award Selection, Review, and 
Selection Process: The CDFI Fund will evaluate each Application using a 
five-step review process illustrated in the sections below. Applicants 
that meet the minimum criteria will advance to the next step in the 
review process. Applicants applying as a Community Partnership must 
describe the partnership in the Application pursuant to the 
requirements set forth in table 8 and will be evaluated in accordance 
with the review process described below.
    a. Step 1: Eligibility Review: The CDFI Fund will evaluate each 
Application to determine its eligibility status pursuant to Section III 
of this NOFA.
    b. Step 2: Financial Analysis and Compliance Risk Evaluation:
    i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI 
Fund will consider financial safety and soundness information from the 
Appropriate Federal or State Banking Agency. As detailed in table 8, 
each Regulated Institution FA Applicant (including a Subsidiary Insured 
Depository Institution that will expend and carry out the activities of 
an award on behalf of a Depository Institution Holding Company 
Applicant) must have a CAMELS/CAMEL rating of at least ``3'' and/or no 
significant material concerns from its regulator. Each Insured 
Depository Institution Applicant and each Subsidiary Insured Depository 
Institution that will expend and carry out the activities of an award 
on behalf of a Depository Institution Holding Company Applicant must 
have a CRA assessment rating of at least ``Satisfactory.''
    For non-regulated Applicants, the CDFI Fund will evaluate the 
financial health and viability of each non-regulated Applicant using 
financial information provided by the Applicant. For the financial 
analysis, each non-regulated Applicant will receive a Total Financial 
Composite Score on a scale of one (1) to five (5), with one (1) being 
the highest rating. The Total Financial Composite Score is based on the

[[Page 6069]]

analysis of twenty-three (23) financial indicators. Applications will 
be grouped based on the Total Financial Composite Score. Applicants 
must receive a Total Financial Composite Score of one (1), two (2), or 
three (3) to advance to Step 3. Applicants that receive an initial 
Total Financial Composite Score of four (4) or five (5) will be re-
evaluated and re-scored by CDFI Fund staff. If the Total Financial 
Composite Score remains four (4) or five (5) after CDFI Fund staff 
review, the Applicant will not advance to Step 3.
    ii. Step 2: Compliance Risk Evaluation: For the compliance 
analysis, the CDFI Fund will evaluate the compliance risk of each 
Applicant using information provided in the Application, as well as an 
Applicant's reporting history, reporting capacity, and performance risk 
with respect to meeting the PG&Ms set forth in the Assistance 
Agreement. Each Applicant will receive a Total Compliance Composite 
Score on a scale of one (1) to five (5), with one (1) being the highest 
rating. Applicants that receive an initial Total Compliance Composite 
Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff. 
If the Applicant is deemed a high compliance risk after CDFI Fund staff 
review, the Applicant will not advance to Step 3.
    c. Step 3: Business Plan Review: Applicants that proceed to Step 3 
will be evaluated on the soundness of their comprehensive business 
plan. Two external non-CDFI Fund Reviewers will conduct the Step 3: 
Business Plan Review. Reviewers will evaluate the Application sections 
listed in table 12. All Applications will be reviewed in accordance 
with standard reviewer evaluation materials. At the conclusion of the 
Step 3 evaluation, Applications will be ranked based on Total Business 
Plan Scores, in descending order from highest Total Business Plan Score 
to lowest Total Business Plan Score. Each category of Applicant type 
(Core and SECA) will be ranked separately. An amount up to but not 
exceeding the highest scoring 60% of Core Applicants in the Core 
Applicant pool and an amount up to, but not exceeding, the highest 
scoring 70% of SECA Applicants in the SECA Applicant pool will progress 
to Step 4. Within each category of Applicant type (Core and SECA) 
respectively, if a tie in Total Business Plan Scores would prevent an 
Applicant from advancing to Step 4, all Applicants with the same score 
will progress to Step 4. Lastly, the CDFI Fund may consider the 
geographic diversity of Applicants based on primary geographic market 
served (Major Urban Area, Micropolitan Area, Minor Urban Area, and 
Rural Area) when determining the Step 4 Applicant pool.
    Based on funding availability for Core and SECA Base-FA Applicant 
types, the CDFI Fund reserves the right to limit the number of 
Applicants that progress from Step 3 to Step 4 to ensure that the CDFI 
Program can meaningfully vary award amounts among Applicants with 
different Step 4 Policy Objective scores, while maintaining minimum 
award amounts specified in table 2. In cases where funding availability 
is not sufficient to progress all Applicants within the top 60% of the 
Core Applicant pool and within the top 70% of the SECA Applicant pool 
from Step 3 to Step 4, priority will be given to Applicants that score 
highest on the Total Business Plan Score in each Applicant type (Core 
and SECA).
    Applicants who request only an HP-FA award (with no Base-FA award) 
will be evaluated in a separate pool from the Core and SECA Base-FA 
Applicant types, utilizing the criteria outlined in table 12. This pool 
will combine any HP-FA only Applications under both the CDFI Program 
and the NACA Program. The Step 3 review questions under these criteria 
will be modified to reflect the fact that Applications requesting only 
HP-FA without Base-FA will not have an FA Objective. This review will 
be completed by CDFI Fund or other Federal staff, rather than external 
reviewers. Upon completion of the Step 3: Business Plan Review, the 
Applications requesting only an HP-FA award without a Base-FA award 
will be ranked according to Step 3 score. The CDFI Fund will forward 
the same percentage of HP-FA only applications to Step 4 as the 
percentage of the CDFI Program Core Applicant pool requesting Base-FA 
forwarded to Step 4. For example, if the CDFI Fund forwards the highest 
scoring 60% of the CDFI Program Core Applicant pool requesting Base-FA 
to Step 4, and it received 8 Applications requesting only HP-FA (across 
both the CDFI and NACA Programs), it will multiply 8 by 60% to 
calculate 4.8 and forward five Applicants to Step 4, as five is the 
closest whole number to 4.8.

     Table 12--Step 3: Base-FA Business Plan Review Scoring Criteria
------------------------------------------------------------------------
                                                      Score needed to
 Base-FA application sections     Possible score          advance
------------------------------------------------------------------------
Mission and Community Needs...  Scored as a        N/A.
                                 component of the
                                 other Base-FA
                                 Application
                                 Sections.
Business Strategy.............  12...............  N/A.
Market and Competitive          7................  N/A.
 Analysis.
Products and Services.........  12...............  N/A.
Management and Track Record...  12...............  N/A.
Growth and Projections........  7................  N/A.
                               -------------------
    Total Business Plan Score.  50...............  Core Applicants: Up
                                                    to, but not
                                                    exceeding, top 60%
                                                    of all Core
                                                    Applicants.
                                                   SECA Applicants: Up
                                                    to, but not
                                                    exceeding, top 70%
                                                    of all SECA
                                                    Applicants.
------------------------------------------------------------------------

    d. Step 4: Policy Objective Review: The CDFI Fund internal 
reviewers will evaluate each Application to determine its ability to 
meet policy objectives of the CDFI Fund. Each Applicant will be 
evaluated in each of the categories listed in table 13 and will receive 
a Total Policy Objective Review Score on a scale of one (1) to five 
(5), with one (1) being the highest score. Applicants are then grouped 
according to Total Policy Objective Review Scores. For Applications 
requesting only HP-FA (with no Base-FA request), the Step 4 policy 
objective review will be conducted using the same categories listed in 
table 13. Where appropriate, the evaluation criteria for reviewers will 
be modified to reflect the fact that Applications requesting only HP-FA 
without Base-FA will not have an FA Objective.
    The CDFI Fund also conducts a due diligence review for Applicants 
that

[[Page 6070]]

includes an analysis of programmatic risk factors including, but not 
limited to: history of performance in managing Federal awards 
(including timeliness of reporting and compliance); ability to meet FA 
Objectives selected by Base-FA Applicants in their Applications; 
reports and findings from audits; and ability to effectively implement 
Federal requirements, each of which could impact the Total Policy 
Objective Review Score. For Applications requesting only HP-FA (with no 
Base-FA), the due diligence review will consist of all of the above 
components except the FA Objective due diligence review; due diligence 
related to the Application's HP-FA strategy will be conducted as part 
of the HP-FA Application review.

                            Table 13--Step 4: Base-FA Policy Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
               Section                          Possible scores            High score    Score needed to advance
----------------------------------------------------------------------------------------------------------------
Economic Distress....................  1, 2, 3, 4, or 5................               1  N/A.
Economic Opportunities...............  1, 2, 3, 4, or 5................               1  N/A.
Community Collaboration..............  1, 2, 3, 4, or 5................               1  N/A.
Total Policy Objective Review          1, 2, 3, 4, or 5................               1  All Scores Advance.
 Composite Score.
----------------------------------------------------------------------------------------------------------------

    e. Step 5: Award Amount Determination: The CDFI Fund determines an 
award amount for each Application based on the Step 4 Total Policy 
Objective Review Score, the Applicant's request amount, and on certain 
other factors, including, but not limited to, the Applicant's 
deployment track record, minimum award size, and funding availability. 
Applicants may have award amounts reduced from the requested award 
amount or not funded as a result of this analysis. Based on funding 
availability for Core, SECA, and/or NACA Base-FA Applicant types, the 
CDFI Fund reserves the right to not award all Applicants that advance 
to Step 5. In cases where funding availability is not sufficient to 
award all Applications, priority will be given to Applicants that score 
highest on the Step 4: Policy Objective Review in each Applicant type 
Category (Core and SECA). For Core FA Applicants, the award cannot 
exceed 30% of the Applicant's total portfolio outstanding as of the 
Applicant's most recent historic fiscal year end in accordance with the 
FA Application Guidance. For SECA FA Applicants, the award cannot 
exceed 75% of the Applicant's total portfolio outstanding as of the 
Applicant's most recent historic fiscal year end in accordance with the 
FA Application Guidance, or the minimum award size as noted in table 2, 
whichever is greater.
    2. HFFI-FA Application Scoring, Award Selection, Review, and 
Selection Process: A CDFI Fund internal reviewer will evaluate each 
HFFI-FA Application associated with a Base-FA Application that 
progresses to Step 4 of the FA Application review process. The reviewer 
will evaluate the Application sections listed in table 14 and assign a 
Total HFFI- FA Score up to 60 points. The CDFI Fund will make awards to 
the highest scoring Applicants first. All Applications will be reviewed 
in accordance with standard reviewer evaluation materials. Applicants 
that fail to receive a Base-FA award will not be considered for a HFFI-
FA award.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration for an HFFI-FA award. Award 
amounts may be reduced from the requested award amount as a result of 
this analysis. The CDFI Fund may reduce awards sizes from requested 
amounts based on certain variables, including but not limited to, an 
Applicant's deployment track record, total portfolio outstanding, or 
compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may 
consider the geographic diversity of Applicants when making its funding 
decisions.

          Table 14--Step 4 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
                   Sections                          Possible score
------------------------------------------------------------------------
Target Market Profile........................  10 points
Healthy Food Financial Products..............  10 points
Projected HFFI-FA Activities.................  15 points
HFFI Track Record............................  20 points
Management Capacity for Providing Healthy      5 points
 Food Financing.
                                              --------------------------
    Total HFFI-FA Score......................  60 points
------------------------------------------------------------------------

    3. PPC-FA Application Scoring, Award Selection, Review, and 
Selection Process: A CDFI Fund internal reviewer will evaluate the PPC-
FA request of each PPC-FA Application associated with a Base-FA 
Application that progresses to Step 4 of the FA Application review 
process. PPC-FA requests are not scored. PPC-FA award amounts will be 
determined based on the total number of eligible Applicants and funding 
availability, the Applicant's requested amount, and on certain factors, 
including but not limited to, an Applicant's total portfolio 
outstanding, historical track record of deployment in PPC, pipeline of 
projects in PPC, minimum award size, and funding availability. 
Applicants that fail to receive a Base-FA award will not be considered 
for a PPC-FA award.
    4. DF-FA Application Scoring, Award Selection, Review, and 
Selection Process: A CDFI Fund internal reviewer will evaluate each DF-
FA Application associated with a Base-FA Application that progresses to 
Step 4 of the FA Application review process. The reviewer will evaluate 
the Application and assign a Total DF-FA Score on a scale of one (1) to 
three (3), with one (1) being the highest score. Applicants are then 
grouped according to Total DF-FA Score. All Applications will be 
reviewed in accordance with standard reviewer evaluation materials. 
Applicants that fail to receive a Base-FA award will not be considered 
for a DF-FA award. Award amounts will be determined on the basis of the 
Total DF-FA Score, the Applicant's requested amount, and on certain 
factors,

[[Page 6071]]

including but not limited to, an Applicant's deployment track record, 
total portfolio outstanding, minimum award size, and funding 
availability. Award amounts may be reduced from the requested award 
amount as a result of this analysis. The CDFI Fund will make awards to 
the highest scoring Applicants first.

           Table 15--Step 3 DF-FA Application Scoring Criteria
------------------------------------------------------------------------
              Section                  Possible scores      High score
------------------------------------------------------------------------
DF-FA Narrative Questions.........  1, 2, or 3..........               1
    Total DF-FA Score.............  1, 2, or 3..........               1
------------------------------------------------------------------------

    5. HP-FA Application Scoring, Award Selection, Review, and 
Selection Process: A CDFI Fund internal reviewer will evaluate each HP-
FA Application that progresses to Step 4 of the review process. The 
reviewer will evaluate the Application and assign a Total HP-FA Score 
on a scale of one (1) to three (3), with one (1) being the highest 
score, based on the Applicant's projected financing activity supporting 
housing production, the extent it intends to target 51% or more of 
Homeownership and rental Housing to families with incomes at 80% AMI or 
below, its track record of financing housing, its projected timeline 
for Housing to be completed, and the effectiveness of its strategy to 
mitigate any risks. Applicants are then grouped according to Total HP-
FA Score. All Applications will be reviewed in accordance with standard 
reviewer evaluation materials. Applicants that would not qualify for an 
award based on Step 4 Total Policy Objective Review Score and due 
diligence evaluation will not be considered for an HP-FA award. 
Applicants that request an HP-FA award as a supplement a Base-FA award 
must be selected to receive a Base-FA award to be considered for an HP-
FA award. Award amounts will be determined based on the Total HP-FA 
Score, the Applicant's requested amount, and on certain factors, 
including but not limited to, an Applicant's deployment track record, 
total portfolio outstanding, minimum award size, proximity to the $5 
million over three years award cap, geographies served, and funding 
availability. The CDFI Fund may reduce an Applicant's award amount as a 
result of this analysis. The CDFI Fund will make awards to the highest 
scoring Applicants first.
    6. TA Application Scoring, Award Selection, Review, and Selection 
Process: The CDFI Fund will evaluate each Application to determine its 
eligibility pursuant to Section III of this NOFA. If the Application 
satisfies the eligibility criteria, the CDFI Fund will conduct the TA 
Business Plan Review in two parts. Emerging CDFI Applicants must 
receive a rating of Low Risk or Medium Risk in Part I of the TA 
Business Plan Review to progress to Part II of the TA Business Plan 
Review. Emerging CDFI Applicants that receive a rating of High Risk in 
Part I of the TA Business Plan Review will not be considered for an 
award. Part I of the TA Business Plan Review is not applicable for 
Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants 
must receive a rating of Low Risk or Medium Risk in Part II of the TA 
Business Plan Review to be considered for an award. Applicants that 
receive a rating of High Risk in Part II of the TA Business Plan Review 
will not be considered for an award. An Applicant that is a Certified 
CDFI will be evaluated on the demonstrated need for a TA award to build 
the CDFI's capacity, further the Applicant's strategic goals, and 
achieve impact within the Applicant's Target Market. An Applicant that 
is an Emerging CDFI will be evaluated on the Applicant's demonstrated 
capability and plan to achieve CDFI Certification within three years, 
or if a prior Recipient, the CDFI Certification PG&M stated in its 
prior Assistance Agreement. An Applicant that is an Emerging CDFI will 
also be evaluated on its demonstrated need for a TA award to build the 
CDFI's capacity and further its strategic goals. The CDFI Fund will 
rate each part of the TA Business Plan Review as indicated in table 16.

                    Table 16--TA Business Plan Review
------------------------------------------------------------------------
 Business plan review component     Applicant type          Ratings
------------------------------------------------------------------------
Part I:
    Primary Mission.............  Emerging CDFI       Low Risk, Medium
                                   Applicants.         Risk, or High
                                                       Risk.
    Financing Entity............  Emerging CDFI
                                   Applicants.
    Target Market...............  Emerging CDFI
                                   Applicants.
    Accountability..............  Emerging CDFI
                                   Applicants.
    Development Services........  Emerging CDFI
                                   Applicants.
Part II:
    Target Market Needs &         Emerging and        Low Risk, Medium
     Strategy.                     Certified CDFI      Risk, or High
                                   Applicants.         Risk.
    Organizational Capacity.....  Emerging and
                                   Certified CDFI
                                   Applicants.
    Management Capacity.........  Emerging and
                                   Certified CDFI
                                   Applicants.
------------------------------------------------------------------------

    Each TA Application will be evaluated by one internal CDFI Fund 
reviewer. The Business Plan Review of all Applications will be reviewed 
in accordance with CDFI Fund standard reviewer evaluation materials.
    The CDFI Fund conducts additional levels of due diligence for 
Applications that are under consideration for an award. This due 
diligence includes an analysis of programmatic and financial risk 
factors including, but not limited to, financial stability, history of 
performance in managing Federal

[[Page 6072]]

awards (including timeliness of reporting and compliance), reports and 
findings from audits, and the Applicant's ability to effectively 
implement Federal requirements. The CDFI Fund will also evaluate the 
compliance risk of each Applicant using information provided in the 
Application, as well as an Applicant's reporting history, reporting 
capacity, and performance risk with respect to meeting the PG&Ms set 
forth in the Assistance Agreement. Each Applicant will receive a Total 
Compliance Composite Score on a scale of one (1) to five (5), with one 
(1) being the highest rating. Applicants that receive an initial Total 
Compliance Composite Score of four (4) or five (5) will be re-evaluated 
by CDFI Fund staff. If the Applicant is deemed a high compliance risk 
after CDFI staff review, the Applicant will not be considered for an 
award. The CDFI Fund will also evaluate the Applicant's ability to meet 
CDFI Certification criteria of being a legal entity and a non-
government entity. Award amounts may be reduced as a result of the due 
diligence analysis in addition to consideration of the Applicant's 
funding request and similar factors. Lastly, the CDFI Fund may consider 
the geographic diversity of Applicants when making its funding 
decisions.
    6. Regulated Institutions: The CDFI Fund will consider safety and 
soundness information from the Appropriate Federal or State Banking 
Agency. If the Applicant is a Depository Institution Holding Company, 
the CDFI Fund will consider information provided by the Appropriate 
Federal or State Banking Agencies about both the Depository Institution 
Holding Company and the Subsidiary Insured Depository Institution that 
will expend and carry out the award. If the Appropriate Federal or 
State Banking Agency identifies safety and soundness concerns 
(including any concerns for Subsidiary Insured Depository Institutions 
carrying out the activities of an award on behalf of a Depository 
Institution Holding Company), the CDFI Fund will assess whether such 
concerns cause or will cause the Applicant to be incapable of 
undertaking the activities for which funding has been requested.
    7. Non-Regulated Institutions: The CDFI Fund must ensure, to the 
maximum extent practicable, that Recipients which are non-regulated 
CDFIs are financially and managerially sound and maintain appropriate 
internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). 
Further, the CDFI Fund must determine that an Applicant's capacity to 
operate as a CDFI and its continued viability will not be dependent 
upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is 
determined that the Applicant is incapable of meeting these 
requirements, the CDFI Fund reserves the right to deem the Applicant 
ineligible or terminate the award.
    8. Consideration of the Three-Year Award Cap: The CDFI Fund is 
prohibited from obligating more than $5 million in CDFI and NACA 
Program awards, in the aggregate, to any one organization and its 
Subsidiaries and Affiliates during any three-year period from the 
announcement date. Base-FA, TA, PPC-FA, and HP-FA are expected to be 
considered in this determination, based on existing statutory authority 
and past appropriations bill language. DF-FA and HFFI-FA were excluded 
from consideration towards the three-year award cap in the enacted FY 
2024 Consolidated Appropriations Act; however, the final FY 2025 
appropriations are still pending. Thus, the CDFI Fund reserves the 
right to include FY 2025 DF-FA and HFFI-FA awards in calculating the 
three-year award cap if these programs are not excluded in the final FY 
2025 CDFI Program appropriations. The CDFI Fund may reduce award 
amounts or deny certain supplemental awards if necessary to stay under 
the $5 million award cap for a Recipient.
    B. Anticipated Award Announcement: The CDFI Fund anticipates making 
the CDFI Program award announcement before September 30, 2025. However, 
the anticipated award announcement date is subject to change without 
notice.
    C. Application Rejection: The CDFI Fund reserves the right to 
reject an Application if information (including administrative errors) 
comes to the CDFI Fund's attention that: adversely affects an 
Applicant's eligibility for an award; adversely affects the Recipient's 
CDFI Certification (to the extent that the award is conditional upon 
CDFI Certification); adversely affects the CDFI Fund's evaluation or 
scoring of an Application; or indicates fraud or mismanagement on the 
Applicant's part. If the CDFI Fund determines any portion of the 
Application is incorrect in a material respect, the CDFI Fund reserves 
the right, in its sole discretion, to reject the Application. The CDFI 
Fund reserves the right to change its eligibility and evaluation 
criteria and procedures, if the CDFI Fund deems it appropriate. If the 
changes materially affect the CDFI Fund's award decisions, the CDFI 
Fund will provide information about the changes through its website. 
The CDFI Fund's award decisions are final, and there is no right to 
appeal decisions.
    D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund 
reviewers are selected based on criteria that includes a professional 
background in community and economic development finance, and 
experience reviewing the financial statements of all CDFI institution 
types. Reviewers must complete the CDFI Fund's conflict of interest 
process and be approved by the CDFI Fund.

VI. Federal Award Administration Information

    A. Award Notification: Each successful Applicant will receive an 
email ``notice of award'' notification from the CDFI Fund stating that 
its Application has been approved for an award. Each Applicant not 
selected for an award will receive an email stating that a debriefing 
notice has been provided in its AMIS account.
    B. Assistance Agreement: Each Applicant selected to receive an 
award must enter into an Assistance Agreement with the CDFI Fund in 
order to receive a payment(s). The Assistance Agreement will set forth 
the award's terms and conditions, including but not be limited to the: 
(i) award amount; (ii) award type; (iii) award uses; (iv) eligible use 
of award funds; (v) PG&Ms; and (vi) reporting requirements. FA 
Assistance Agreements have three-year Periods of Performance. TA 
Assistance Agreements have two-year Periods of Performance for 
Certified CDFIs and three-year Periods of Performance for Emerging 
CDFIs.
    1. Certificate of Good Standing: All FA and TA Recipients that are 
not Regulated Institutions will be required to provide the CDFI Fund 
with a certificate of good standing from the secretary of state for the 
Recipient's jurisdiction of formation prior to closing. This 
certificate can often be acquired online on the secretary of state 
website for the Recipient's jurisdiction of formation and must 
generally be dated within 180 days prior to the Federal Award Date of 
the Assistance Agreement. Due to potential backlogs in state government 
offices, Applicants are advised to submit requests for certificates of 
good standing no later than 60 days after they submit their 
Applications.
    2. Closing: Pursuant to the Assistance Agreement, there will be an 
initial closing at which point the Assistance Agreement and related 
documents will be properly executed and delivered, and an initial 
payment of FA or TA may be made. FA Recipients that are subject to the 
Matching Funds requirement will

[[Page 6073]]

not receive a payment until 100% of their Matching Funds are In-Hand. 
The first payment is the estimated amount of the award that the 
Recipient states in its Application that it will use for eligible FA or 
TA activities in the first 12 months after the award announcement. The 
first payment request amount entered in the Application must be greater 
than zero. The CDFI Fund reserves the right to increase the first 
payment amount on any award to ensure that any subsequent payments are 
at least $25,000 for FA and $5,000 for TA awards.
    The CDFI Fund will minimize the time between the Recipient 
incurring costs for eligible activities and award payment(s) in 
accordance with the Uniform Administrative Requirements. Advanced 
payments for eligible activities will occur no more than one year in 
advance of the Recipient incurring costs for the eligible activities. 
Following the initial closing, there may be subsequent closings 
involving additional award payments. Any documentation in addition to 
the Assistance Agreement that is connected with such subsequent 
closings and payments shall be properly executed and timely delivered 
by the Recipient to the CDFI Fund.
    3. Requirements Prior to Entering into an Assistance Agreement: If, 
prior to entering into an Assistance Agreement, information (including 
administrative errors) comes to the CDFI Fund's attention that: 
adversely affects the Recipient's eligibility for an award; adversely 
affects the Recipient's CDFI Certification (to the extent that the 
award is conditional upon CDFI Certification); adversely affects the 
CDFI Fund's evaluation of the Application; indicates that the Recipient 
is not in compliance with any requirement listed in the Uniform 
Administrative Requirements; indicates that the Recipient is not in 
compliance with a term or condition of any prior Award Agreement, 
Assistance Agreement, and/or Allocation Agreement from the CDFI Fund; 
indicates the Recipient has failed to execute and return a prior round 
Assistance Agreement to the CDFI Fund within the CDFI Fund's deadlines; 
or indicates fraud or mismanagement on the Recipient's part, the CDFI 
Fund may, in its discretion and without advance notice to the 
Recipient, terminate the award or take such other actions as it deems 
appropriate. The CDFI Fund reserves the right, in its sole discretion, 
to rescind an award if the Recipient fails to return the Assistance 
Agreement, signed by the Authorized Representative of the Recipient, 
and/or provide the CDFI Fund with any requested documentation, within 
the CDFI Fund's deadlines.
    In addition, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Assistance Agreement and the 
award made under this NOFA pending the criteria described in table 17.

    Table 17--Requirements Prior to Executing an Assistance Agreement
------------------------------------------------------------------------
         Requirement                            Criteria
------------------------------------------------------------------------
Failure to meet reporting       If a Recipient received a prior
 requirements.                  award or allocation under any CDFI Fund
                                program and is not current on the
                                reporting requirements set forth in the
                                previously executed assistance, award,
                                allocation, bond loan agreement(s), or
                                agreement to guarantee, as of the date
                                of the notice of award, the CDFI Fund
                                reserves the right, in its sole
                                discretion, to delay entering into an
                                Assistance Agreement and/or to delay
                                making a payment of award, until said
                                prior Recipient or allocatee is current
                                on the reporting requirements in the
                                previously executed assistance, award,
                                allocation, bond loan agreement(s), or
                                agreement to guarantee.
                                If such a prior Recipient or
                                allocatee is unable to meet this
                                requirement within the timeframe set by
                                the CDFI Fund, the CDFI Fund reserves
                                the right, in its sole discretion, to
                                terminate and rescind the notice of
                                award and the award made under this
                                NOFA.
                                Please note that automated
                                systems employed by the CDFI Fund for
                                receipt of reports submitted
                                electronically typically acknowledge
                                only a report's receipt; such
                                acknowledgment does not warrant that the
                                report received was complete, nor that
                                it met reporting requirements.
Failure to maintain CDFI        An FA Recipient must be a
 Certification.                 Certified CDFI.
                                If an FA Recipient fails to
                                maintain CDFI Certification, the CDFI
                                Fund will not execute the Assistance
                                Agreement and will terminate and rescind
                                the award made under this NOFA.
                                If a TA Recipient is a Certified
                                CDFI at the time of award announcement,
                                it must maintain CDFI Certification.
                                If a Certified CDFI TA Recipient
                                fails to maintain CDFI Certification,
                                the CDFI Fund will not execute the
                                Assistance Agreement and will terminate
                                and rescind the award made under this
                                NOFA.
Pending resolution of           The CDFI Fund will delay
 noncompliance or default.      entering into an Assistance Agreement
                                with a prior Recipient or allocatee (or
                                Affiliate of the Recipient identified in
                                AMIS) that has pending noncompliance or
                                default issues with any of its
                                previously executed CDFI Fund award(s),
                                allocation(s), bond loan agreement(s),
                                or agreement(s) to guarantee.
                                If said prior Recipient or
                                allocatee is unable satisfactorily
                                resolve the compliance issues, the CDFI
                                Fund reserves the right, in its sole
                                discretion, to terminate and/or rescind
                                the notice of award and the award made
                                under this NOFA.
Noncompliance or default        If, at any time prior to
 status.                        entering into an Assistance Agreement,
                                the CDFI Fund determines that a
                                Recipient (or Affiliate of the Recipient
                                identified in AMIS) is noncompliant or
                                found in default with any previously
                                executed CDFI Fund award(s),
                                allocation(s), bond loan agreement(s),
                                or agreement(s) to guarantee, and the
                                CDFI Fund has provided written
                                notification that the Recipient is
                                ineligible to apply for or receive any
                                future awards or allocations for a time
                                period specified by the CDFI Fund in
                                writing, the CDFI Fund may delay
                                entering into an Assistance Agreement
                                until the Recipient has cured the
                                noncompliance and/or default by taking
                                actions the CDFI Fund has specified
                                within such specified timeframe.
                                Additionally, regardless of whether a
                                sanction or remedy is imposed, the CDFI
                                Fund will not consider an Application
                                submitted by an Applicant if the default
                                on a prior Allocation Agreement of the
                                Applicant or an Affiliate occurs during
                                the time period beginning 12 months
                                prior to the Application deadline and
                                execution of the FY 2025 Assistance
                                Agreement. If the Recipient is unable to
                                cure the noncompliance and/or default
                                within the specified timeframe, the CDFI
                                Fund may terminate and rescind the
                                Assistance Agreement and the award made
                                under this NOFA.
Compliance with Federal civil   If, within the period starting
 rights requirements.           three years prior to this NOFA and
                                through the date of the Assistance
                                Agreement, the Recipient received a
                                final determination, in any proceeding
                                instituted against the Recipient in, by,
                                or before any court, governmental, or
                                administrative body or agency, declaring
                                that the Recipient violated any Federal
                                civil rights laws or regulations,
                                including: Title VI of the Civil Rights
                                Act of 1964, as amended (42 U.S.C. 2000d
                                et seq.); Fair Housing Act (42 U.S.C.
                                3601 et seq.); Equal Credit Opportunity
                                Act (15 U.S.C. 1691 et seq.); Section
                                504 of the Rehabilitation Act of 1973
                                (29 U.S.C. 794); and the Age
                                Discrimination Act of 1975 (42 U.S.C.
                                6101-6107), the CDFI Fund may terminate
                                and rescind the Assistance Agreement and
                                the award made under this NOFA. The CDFI
                                Fund will delay entering into an
                                Assistance Agreement with a Recipient
                                that has pending Title VI noncompliance
                                issues, if the CDFI Fund has not yet
                                made a final compliance determination.
                                If the Recipient is unable to
                                satisfactorily resolve the Title VI
                                noncompliance issues, the CDFI Fund may
                                terminate and rescind the Assistance
                                Agreement and the award made under this
                                NOFA.
                                The Title VI Compliance
                                Worksheet and program award terms and
                                conditions do not impose
                                antidiscrimination requirements on
                                Tribal governments beyond what would
                                otherwise apply under Federal law.

[[Page 6074]]

 
Do Not Pay...................   The Do Not Pay Business Center
                                was developed to support Federal
                                agencies in their efforts to reduce the
                                number of improper payments made through
                                programs funded by the Federal
                                Government.
                                If the Do Not Pay Business
                                Center reports that the Recipient has a
                                pending or delinquent debt to the
                                Federal Government, the Recipient will
                                be required to demonstrate that it has
                                resolved such pending or delinquent
                                debt. The CDFI Fund reserves the right,
                                in its sole discretion, to rescind an
                                award if the Recipient fails to
                                demonstrate resolution of the pending or
                                delinquent Federal debt.
Safety and soundness.........   If it is determined the
                                Recipient is, or will be, incapable of
                                meeting its award obligations, the CDFI
                                Fund will deem the Recipient to be
                                ineligible or require it to improve its
                                safety and soundness prior to entering
                                into an Assistance Agreement.
------------------------------------------------------------------------

    C. Reporting
    1. Reporting requirements: On an annual basis during the Period of 
Performance, the CDFI Fund may collect information from each Recipient 
including, but not limited to, an Annual Report with the following 
components (Annual Reporting Requirements):

                Table 18--Annual Reporting Requirements *
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Financial Statement Audit      A Non-profit Recipient (including Insured
 Report (Non-profit Recipient   Credit Unions and State-Insured Credit
 including Insured Credit       Unions) must submit a Financial
 Unions and State-Insured       Statement Audit (FSA) Report in AMIS,
 Credit Unions).                along with the Recipient's statement of
                                financial condition audited or reviewed
                                by an independent certified public
                                accountant, if any are prepared.
                               Under no circumstances should this be
                                construed as the CDFI Fund requiring the
                                Recipient to conduct or arrange for
                                additional audits not otherwise required
                                under Uniform Administrative
                                Requirements or otherwise prepared at
                                the request of the Recipient or parties
                                other than the CDFI Fund.
Financial Statement Audit      For-profit Recipients must submit an FSA
 Report (For-Profit             Report in AMIS, along with the
 Recipient).                    Recipient's statement of financial
                                condition audited or reviewed by an
                                independent certified public accountant.
Financial Statement Audit      If the Recipient is a Depository
 Report (Depository             Institution Holding Company or an
 Institution Holding Company    Insured Depository Institution, it must
 and Insured Depository         submit an FSA Report in AMIS.
 Institution).
Single Audit Report (Non-      A non-profit Recipient must complete an
 Profit Recipients, if          annual Single Audit pursuant to the
 applicable).                   Uniform Administrative Requirements (see
                                2 CFR Subpart F-Audit Requirements) if
                                it expends $1,000,000 or more in Federal
                                awards in its fiscal year, or such other
                                dollar threshold established by OMB
                                pursuant to 2 CFR 200.501. If a Single
                                Audit is required, it must be submitted
                                electronically to the Federal Audit
                                Clearinghouse (FAC) (see 2 CFR Subpart F-
                                Audit Requirements in the Uniform
                                Administrative Requirements) and
                                optionally through AMIS.
Federal Financial Report/OMB   The Recipient must annually submit the SF-
 Standard Form 425 (SF-425).    425 Federal Financial Report to the CDFI
                                Fund through AMIS to disclose how much
                                of the CDFI Program award funds were
                                expended during the Federal Government's
                                fiscal year of October 1 through
                                September 30.
Uses of Award Report.........  The Recipient must submit the Uses of
                                Award Report to the CDFI Fund in AMIS.
                               If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary
                                Insured Depository Institution, the
                                Depository Institution Holding Company
                                must submit all uses in a Uses of Award
                                Report.
Shareholders Report..........  If the Assistance is in the form of an
                                Equity Investment, the Recipient must
                                submit shareholder information to the
                                CDFI Fund showing the class, series,
                                number of shares and valuation of
                                capital stock held or to be held by each
                                shareholder. The Shareholders Report
                                must be submitted for as long as the
                                CDFI Fund is an equity holder. The
                                Shareholders Report is submitted through
                                AMIS.
Performance Progress Report..  The Recipient must submit the Performance
                                Progress Report through AMIS.
                               If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary
                                Insured Depository Institution, the
                                Depository Institution Holding Company
                                must submit all deployed activity in a
                                Performance Progress Report.
Transaction Level Report       The Recipient must submit a TLR to the
 (TLR).                         CDFI Fund through AMIS.
                               If the Recipient is a Depository
                                Institution Holding Company that deploys
                                all or a portion of its Financial
                                Assistance through its Subsidiary
                                Insured Depository Institution, the
                                Depository Institution Holding Company
                                must create and submit the TLR for this
                                award. The Subsidiary Insured Depository
                                Institution does not submit and create a
                                TLR related to this award.
                               The full-length TLR completed by FA
                                Recipients is not required for TA
                                Recipients. However, TA Recipients who
                                are Certified CDFIs must complete the
                                abbreviated TLR through AMIS as a
                                requirement of CDFI Certification.
Annual Certification and Data  TA Recipients that are Certified at the
 Collection Report (ACR).       time of award announcement and all FA
                                Recipients must submit the ACR to the
                                CDFI Fund through AMIS per the ACR
                                reporting schedule.
                               If a TA Recipient is a Certified CDFI at
                                the time of the award announcement, it
                                must also submit the abbreviated TLR in
                                conjunction with its ACR to the CDFI
                                Fund through AMIS as per the ACR and
                                abbreviated TLR reporting schedule.
                               If a TA Recipient is an uncertified CDFI
                                at the time of award announcement, it
                                must submit the ACR and abbreviated TLR
                                to the CDFI Fund through AMIS subsequent
                                to obtaining CDFI Certification as per
                                the ACR and abbreviated TLR reporting
                                schedule.
------------------------------------------------------------------------
* Personally Identifiable Information (PII) is information, which if
  lost, compromised, or disclosed without authorization, could result in
  substantial harm, embarrassment, inconvenience, or unfairness to an
  individual. Although Applicants are required to enter addresses of
  individual borrowers/residents of Distressed Communities in AMIS,
  Applicants should not include the following PII for the individuals
  who received the Financial Products or Financial Services in AMIS or
  in the supporting documentation (i.e., name of the individual, Social
  Security Number, driver's license or state identification number,
  passport number, Alien Registration Number, etc.). This information
  should be redacted from all supporting documentation.

    Each Recipient is responsible for the timely and complete 
submission of the Annual Reporting Requirements. The CDFI Fund reserves 
the right to require Recipients to take training on how to accurately 
complete any reporting required pursuant to the Assistance Agreement. 
The CDFI Fund reserves the right to contact the Recipient and 
additional entities or signatories to the Assistance Agreement to 
request additional information and/or documentation. The CDFI Fund will 
use such information to monitor each Recipient's compliance with the 
requirements of the Assistance Agreement and to assess the impact of 
the CDFI Program. The CDFI Fund reserves the right, in its sole 
discretion, to modify these reporting requirements, including 
increasing the scope and frequency of reporting, if it determines it to 
be appropriate and necessary; however, such reporting requirements

[[Page 6075]]

will be modified only after notice to Recipients.
    2. Financial Management and Accounting: The CDFI Fund will require 
Recipients to maintain financial management and accounting systems that 
comply with Federal statutes, regulations, and the terms and conditions 
of the Federal award. These systems must be sufficient to permit the 
preparation of reports required by the CDFI Fund to ensure compliance 
with the terms and conditions of the CDFI Program, including the 
tracing of award funds to a level of expenditures adequate to establish 
that such award funds have been used in accordance with Federal 
statutes, regulations, and the terms and conditions of the Federal 
award.
    The cost principles used by Recipients must be consistent with 
Federal cost principles and support the accumulation of costs as 
required by the principles and must provide for adequate documentation 
to support costs charged to the CDFI Program award. In addition, the 
CDFI Fund will require Recipients to: maintain effective internal 
controls; comply with applicable statutes, regulations, and the 
Assistance Agreement; evaluate and monitor compliance; take appropriate 
action when not in compliance; and safeguard personally identifiable 
information.

VII. Agency Contacts

    A. The CDFI Fund will respond to questions concerning this NOFA and 
the Application between the hours of 9:00 a.m. and 5:00 p.m. Eastern 
Time, starting on the date that the NOFA is published through the date 
listed in table 1. The CDFI Fund strongly recommends Applicants submit 
questions to the CDFI Fund via an AMIS Service Request to the CDFI 
Program, Certification, Compliance Monitoring and Evaluation, or IT 
Help Desk. The CDFI Fund will post on its website responses to 
reoccurring questions received about the NOFA and Application. Other 
information regarding the CDFI Fund and its programs may be obtained 
from the CDFI Fund's website at https://www.cdfifund.gov. Table 19 
lists CDFI Fund contact information:

                                          Table 19--Contact Information
----------------------------------------------------------------------------------------------------------------
         Type of question            Preferred method     Telephone number  (not toll free)    Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI Program.....................  Service Request via   202-653-0421, option 1............  [email protected]
                                    AMIS.                                                     .gov.
Compliance Monitoring and          Service Request via   202-653-0423......................  [email protected]
 Evaluation.                        AMIS.                                                     .
CDFI Certification...............  Service Request via   202-653-0423......................  [email protected]
                                    AMIS.                                                     .gov.
AMIS--IT Help Desk...............  Service Request via   202-653-0422......................  [email protected]
                                    AMIS.                                                     .
Grants.gov Help Desk.............  N/A.................  (800) 518-4726....................  [email protected].
SAM.gov (Federal Service Desk)...  N/A.................  (866) 606-8220....................  https://sam.gov/.
----------------------------------------------------------------------------------------------------------------

    B. Information Technology Support: For IT assistance, the preferred 
method of contact is to submit a Service Request within AMIS. For the 
Service Request, select ``Technical Issues'' from the Program dropdown 
menu of the Service Request. People who have visual or mobility 
impairments that prevent them from using the CDFI Fund's website should 
call (202) 653-0422 for assistance (this is not a toll-free number).
    C. Communication with the CDFI Fund: The CDFI Fund will use the 
contact information in AMIS to communicate with Applicants and 
Recipients. It is imperative, therefore, that Applicants, Recipients, 
Subsidiaries, Affiliates, and signatories maintain accurate contact 
information in their accounts. This includes information such as 
contact names (especially for the Authorized Representative), email 
addresses, fax and phone numbers, and office locations.
    D. Revisions to Federal Funding Accountability and Transparency Act 
of 2006: Each Applicant that does not have an exception related to 
reporting subaward and executive compensation information under 2 CFR 
part 170 must have the necessary processes and systems in place to 
comply with reporting requirements should they receive an award.
    E. Civil Rights and Equal Employment Opportunity: Any person who is 
eligible to receive benefits or services from the CDFI Fund or 
Recipients under any of its programs or activities is entitled to those 
benefits or services without being subject to prohibited 
discrimination. The Department of the Treasury's Office of Civil Rights 
and Equal Employment Opportunity enforces various Federal statutes and 
regulations that prohibit discrimination in financially assisted and 
conducted programs and activities of the CDFI Fund. If a person 
believes that s/he has been subjected to discrimination and/or reprisal 
because of race, color, religion, national origin, age, sex, marital 
status, familial status, disability and/or reprisal, s/he may file a 
complaint with: Director, Office of Civil Rights and Equal Employment 
Opportunity, 1500 Pennsylvania Ave, NW, Washington, DC 20230 or (202) 
622-1160 (not a toll-free number).
    F. Whistleblower Protections: An employee of a Recipient or 
Subrecipient must not be discharged, demoted, or otherwise 
discriminated against as a reprisal for disclosing to a person or body 
described in paragraph (a)(2) of 41 U.S.C. 4712 information that the 
employee reasonably believes is evidence of gross mismanagement of a 
Federal contract or grant, a gross waste of Federal funds, an abuse of 
authority relating to a Federal contract or grant, a substantial and 
specific danger to public health or safety, or a violation of law, 
rule, or regulation related to a Federal contract (including the 
competition for or negotiation of a contract) or grant. The Recipient 
and Subrecipient must inform their employees in writing of employee 
whistleblower rights and protections under 41 U.S.C. 4712. See 
statutory requirements for whistleblower protections at 10 U.S.C. 4701, 
41 U.S.C. 4712, 41 U.S.C. 4304, and 10 U.S.C. 4310.
    G. Statutory and National Policy Requirements: The CDFI Fund will 
manage and administer the Federal award in a manner to ensure that 
Federal funding is expended and associated programs are implemented in 
full accordance with the U.S. Constitution, Federal law, and public 
policy requirements: including but not limited to, those protecting 
free speech, religious liberty, public welfare, the environment, and 
prohibiting discrimination.

VIII. Other Information

    A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 
U.S.C. chapter 35), an agency may not conduct or sponsor a collection 
of information, and an individual is not required to respond to a 
collection of information, unless it displays a valid OMB control 
number. If applicable, the CDFI Fund may inform Applicants that they do 
not need to provide certain Application

[[Page 6076]]

information otherwise required. Pursuant to the Paperwork Reduction 
Act, the CDFI Program, and NACA Program Applications have been assigned 
the following control number: 1559-0021.
    B. Application Information Sessions: The CDFI Fund may conduct 
webinars or host information sessions for organizations that are 
considering applying to, or are interested in learning about, the CDFI 
Fund's programs. For further information, visit the CDFI Fund's website 
at https://www.cdfifund.gov.
    Authority: 12 U.S.C. 4701, et seq; 12 CFR parts 1805 and 1815; 2 
CFR part 200.

Pravina Raghavan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2025-01322 Filed 1-16-25; 8:45 am]
BILLING CODE 4810-05-P
```