Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50773 

this year’s meeting will be conducted 

virtually. 

NHTSA technical research staff will 

discuss projects underway and allow 

time for meeting attendees to ask 

questions. Given the virtual nature of 

the event, all presented information will 

be available for download. Updates on 

this event will be available at https://

www.nhtsa.gov/events/research-publicmeeting-2021 listed under the title of 

the public meeting. 

Discussion of research projects will 

occur in the form of technical panel 

presentations, with the following topics 

planned: 

• Day 1, October 19 (11 a.m. to 4 p.m. 

EST), Crash avoidance research panels 

including advanced driver assistance 

systems, human factors, Automated 

Driving Systems (ADS), and vehicle 

cybersecurity. 

• Day 2: October 20 (11 a.m. to 4 p.m. 

EST), Behavioral safety panels 

presenting on speeding/speed 

management and risky driving 

behaviors followed by panels on 

vulnerable road user research and 

alternative fuels. 

• Day 3: October 21 (11 a.m. to 4 p.m. 

EST), Crashworthiness research panels 

presenting on female crash safety, ADS 

crash safety, advanced crash test 

dummies, and occupant protection. 

The agency invites comments on the 

information presented regarding 

research priorities, research goals, and 

additional research gaps/needs the 

public may believe NHTSA should be 

addressing. Select project work may be 

posted to the docket for which 

comments are also welcome. Slides 

presented at the public meeting will be 

posted to the docket subsequently for 

public viewing and a recording of the 

meeting will be made available after the 

event for offline viewing. 

Public Participation 

Registration is required for all 

attendees. There is no cost to register. 

Attendees should register at https://

www.nhtsa.gov/events/research-publicmeeting-2021 by October 15, 2021. 

Please provide name, affiliation, email, 

and indicate whether you need an 

accommodation. 

NHTSA is committed to providing 

equal access to this meeting for all 

participants. Persons with disabilities in 

need of an accommodation should 

contact Lisa Floyd at 202–366–4697, or 

via email at Lisa.Floyd@dot.gov, with 

your request as soon as possible. A sign 

language interpreter will be provided, 

and closed captioning services will be 

available for this meeting through the 

GoToWebinar’s platform. 

Should it become necessary to cancel 

or reschedule the meeting due to an 

unforeseen circumstance, NHTSA will 

take all available measures to notify 

registered participants as soon as 

possible. NHTSA will conduct the 

public meeting informally, and 

technical rules of evidence will not 

apply. The meeting will be recorded, 

and a recording will be made available 

after the event. 

Comments: Comments may be 

submitted electronically or in hard copy 

during the 90-day comment period. 

Please submit all comments no later 

than January 22, 2022, following the 

close of the public meeting by any of the 

following methods: 

Privacy Act: Anyone is able to search 

the electronic form of all comments 

received into any of our dockets by the 

name of the individual submitting the 

comment (or signing the comment, if 

submitted on behalf of an association, 

business, labor union, etc.). You may 

review DOT’s complete Privacy Act 

Statement in the Federal Register 

published on April 11, 2000, (Volume 

65, Number 70; Pages 19477–78), or you 

may visit http://www.regulations.gov/ 

privacy.html. 

Confidential Business Information: If 

you wish to submit any information 

under a claim of confidentiality, you 

should submit three copies of your 

complete submission, including the 

information you claim to be confidential 

business information to the Chief 

Counsel, NHTSA, at 1200 New Jersey 

Avenue SE, Washington, DC 20590. In 

addition, you should submit two copies, 

from which you have deleted the 

claimed confidential business 

information, to Docket Management at 

the address given above. When you send 

a comment containing information 

claimed to be confidential business 

information, you should submit a cover 

letter setting forth the information 

specified in our confidential business 

information regulation (49 CFR part 

512). To facilitate social distancing 

during COVID–19, NHTSA is 

temporarily accepting confidential 

business information electronically. 

Please see https://www.nhtsa.gov/ 

coronavirus/submission-confidentialbusiness-information for details. 

Authority: 49 U.S.C. 30181–30182; 

delegation of authority at 49 CFR 1.95. 

Issued in Washington, DC. 

Cem Hatipoglu, 

Associate Administrator for Vehicle Safety 

Research. 

[FR Doc. 2021–19577 Filed 9–9–21; 8:45 am] 

BILLING CODE 4910–59–P 

DEPARTMENT OF THE TREASURY 

Community Development Financial 

Institutions Fund 

Funding Opportunities: Capital Magnet 

Fund; 2021 Funding Round 

Funding Opportunity Title: Notice of 

Funds Availability (NOFA) inviting 

Applications for the fiscal year (FY) 

2021 Funding Round of the Capital 

Magnet Fund (CMF). 

Announcement Type: Announcement 

of funding opportunity. 

Funding Opportunity Number: CDFI– 

2021–CMF. 

Catalog of Federal Domestic 

Assistance (CFDA) Number: 21.011. 

Dates: 

TABLE 1—FY 2021 CAPITAL MAGNET FUND FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS

Description Deadline 

Time 

(eastern 

time-ET) 

Submission method 

Last day to create an Awards Management Information 

System (AMIS) Account (if Applicant doesn’t have 

one).

October 12, 

2021.

11:59 p.m. 

ET.

Electronically via Awards Management Information 

System (AMIS). 

Last day to enter or update the EIN and DUNS numbers in AMIS (all Applicants).October 12, 

2021.

11:59 p.m. 

ET.

Electronically via AMIS. 

Last day to submit SF–424 Mandatory Form (Application for Federal Assistance).October 12, 

2021.

11:59 p.m. 

ET.

Electronically via Grants.gov. 

Last day to contact Capital Magnet Fund Staff .............. November 4, 

2021.

5:00 p.m. ET Submit Service Request via AMIS; call CDFI Fund 

Helpdesk: 202–653–0421; or email cmf@

cdfi.treas.gov. 


jbell on DSKJLSW7X2PROD with NOTICES
50774 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

1Areas of Economic Distress: Areas of Economic 

Distress are census tracts: (a) Where at least 20% 

of households that are Very Low-Income (50% of 

AMI or below) spend more than half of their income 

on housing; or (b) that are designated Qualified 

Opportunity Zones under 26 U.S.C 1400Z–1; or (c) 

that are Low-Income Housing Tax Credit Qualified 

Census Tracts; or (d) where greater than 20% of 

households have incomes below the poverty rate 

and the rental vacancy rate is at least 10%; or (e) 

where greater than 20% of the households have 

incomes below the poverty rate and the 

homeownership vacancy rate is at least 10%; or (f) 

are Underserved Rural Areas as defined in the CMF 

Interim Rule (as amended February 8, 2016; 12 CFR 

part 1807). The CDFI Fund will publish a dataset 

on its website indicating which census tracts are 

designated as Areas of Economic Distress for the FY 

2021 Round. 

2High Opportunity Area: The CMF Program uses 

the definition of High Opportunity Area found in 

the Federal Housing Finance Agency’s Duty to 

Serve Rule for this term: (a) An area designated by 

the Department of Housing and Urban Development 

(HUD) as a ‘‘Difficult Development Area’’ during 

any year covered by an Enterprise’s Underserved 

Markets Plan (Plan) or in the year prior to a Plan’s 

effective date, whose poverty rate falls below 10% 

(for Metropolitan areas) or below 15% (for NonMetropolitan areas); or (b) an area designated by a 

state or local Qualified Allocation Plan (QAP) as a 

high opportunity area whose poverty rate falls 

below 10% (for Metropolitan areas) or 15% (for 

Non-Metropolitan areas). The CDFI Fund will 

publish a dataset on its website indicating which 

census tracts are designated as High Opportunity 

Areas for the FY 2021 Round. 

TABLE 1—FY 2021 CAPITAL MAGNET FUND FUNDING ROUND CRITICAL DEADLINES FOR APPLICANTS—Continued 

Description Deadline 

Time 

(eastern 

time-ET) 

Submission method 

Last day to submit CMF Application and Required Attachments.November 9, 

2021.

5:00 p.m. ET Electronically via AMIS. 

Executive Summary: The Capital 

Magnet Fund (CMF) is administered by 

the Community Development Financial 

Institutions Fund (CDFI Fund). Through 

the CMF, the CDFI Fund provides 

financial assistance grants to 

Community Development Financial 

Institutions (CDFIs) and to qualified 

Nonprofit Organizations that have the 

development or management of 

affordable housing as one of their 

principal purposes. All awards provided 

through this Notice of Funds 

Availability (NOFA) are subject to 

funding availability. 

I. Program Description 

A. Authorizing Statute and 

Regulation: The CMF was established 

through the Housing and Economic 

Recovery Act of 2008 (HERA), which 

added section 1339 to the Federal 

Housing Enterprises Financial Safety 

and Soundness Act of 1992. For a 

complete understanding of the program, 

the CDFI Fund encourages Applicants to 

review the CMF interim rule (12 CFR 

part 1807) as amended February 8, 2016 

(the CMF Interim Rule); this NOFA; the 

CDFI Fund’s environmental quality 

regulation (12 CFR part 1815); the CMF 

funding application (referred to 

hereafter as the ‘‘Application,’’ meaning 

the application submitted in response to 

this NOFA); and the Uniform 

Administrative Requirements, Cost 

Principles, and Audit Requirements for 

Federal Awards (2 CFR part 1000), 

which is the Department of the 

Treasury’s codification of the Office of 

Management and Budget (OMB) 

government-wide framework for grants 

management at 2 CFR part 200 (Uniform 

Administrative Requirements or UAR). 

Each capitalized term used in this 

NOFA, but not defined herein, shall 

have the respective meanings assigned 

to them in the CMF Interim Rule, the 

Application, or the Uniform 

Administrative Requirements. Details 

regarding Application content 

requirements are found in the 

Application and related materials at 

www.cdfifund.gov/cmf. 

B. 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 CMF made its 

first awards in FY 2010, with 

subsequent funding rounds beginning in 

FY 2016 and occurring annually 

thereafter. To date, more than $740 

million has been awarded under the 

CMF Program. 

C. 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-making agencies 

must follow. Per the Uniform 

Administrative Requirements, when 

evaluating award Applications, 

awarding agencies must evaluate each 

Applicant’s merits, eligibility, and any 

risks to the program posed by each 

Applicant. 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, history of performance, and 

single audit findings. In addition, the 

Uniform Administrative Requirements 

include guidance on audit requirements 

and other award compliance 

requirements for award Recipients. 

D. Priorities: The purpose of the CMF 

is to attract private capital for and 

increase investment in the 

Development, Preservation, 

Rehabilitation, or Purchase of 

Affordable Housing for primarily 

Extremely Low-Income, Very LowIncome, and Low-Income Families, as 

well as Economic Development 

Activities, which, In Conjunction With 

Affordable Housing Activities, 

implement a Concerted Strategy to 

stabilize or revitalize a Low-Income 

Area or Underserved Rural Area. To 

pursue these objectives, the CDFI Fund 

has established the following priorities 

for the FY 2021 Funding Round: (i) 

Applications where at least 20% of all 

rental Affordable Housing units that 

will be financed and/or supported with 

FY 2021 CMF Awards are targeted to 

Very Low-Income Families and/or at 

least 20% of all Homeownership 

Affordable Housing units that will be 

financed and/or supported with FY 

2021 CMF Awards are targeted to LowIncome Families; (ii) Applications 

where rental Affordable Housing units 

are located in either Areas of Economic 

Distress (AED) 1 or High Opportunity 

Areas (HOA) 2; and (iii) Applications 

where Homeownership Affordable 

Housing is either located in an AED 

(targeted to Eligible-Income Families; 

120% AMI and below) or is targeted to 

Low-Income Families (80% AMI or 

below); and (iv) Applications proposing 

to use the CMF Award to leverage 

private capital to finance and/or support 

Affordable Housing Activities and 

Economic Development Activities. 

Additionally, the CDFI Fund seeks to 

fund Applications serving 

geographically diverse Areas of 

Economic Distress, including 

Metropolitan Areas and Underserved 

Rural Areas. In particular, the priority 

for geographic diversity includes 

funding highly qualified Applications 

that serve territories not included in the 

Service Areas of Recipients in the past 

two CMF rounds (FY 2019 and FY 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50775 

2020): American Samoa, Guam, the 

Northern Mariana Islands, and the U.S. 

Virgin Islands. 

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: The CDFI 

Fund plans to award up to $380.2 

million in grants for the CMF FY 2021 

Round under this NOFA. Eligible 

organizations of all sizes are encouraged 

to apply, including new and previous 

Applicants, past CMF Recipients, and 

Applicants focused on Homeownership, 

Rental housing, or both. HERA prohibits 

the CDFI Fund from obligating more 

than 15% of the aggregate available in 

CMF Awards to any Applicant, its 

Subsidiaries and Affiliates in the same 

funding round. In past rounds, the CDFI 

Fund has typically provided awards 

smaller than the statutory cap. For 

example, for the FY 2020 funding 

round, awards ranged from $750,000 to 

$8,000,000, with an average award of 

$3.7 million. Given the larger amount of 

funding available for the FY 2021 CMF 

round compared with the FY 2020 CMF 

round, the CDFI Fund will consider 

award requests that significantly exceed 

the maximum award amounts made in 

past rounds. In addition, the CDFI Fund 

anticipates issuing more awards at 

various award sizes, including smaller 

awards. Given the administrative and 

compliance responsibilities for 

Recipients, the CDFI Fund will not 

accept Applications for the FY 2021 

CMF Round that request less than 

$500,000 and will not provide awards 

below $500,000 to any CMF Award 

Recipient for the FY 2021 CMF Round. 

The CDFI Fund reserves the right, in 

its sole discretion, to provide a CMF 

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, nor will the Award 

amount be less than the Applicant’s 

minimum Award request if one is 

provided in the Application. An 

Applicant may receive only one Award 

through the FY 2021 CMF Round, 

though one or more Affiliates of an 

Applicant, if eligible, may separately 

apply and be awarded. 

B. Types of Awards: The CDFI Fund 

will provide CMF Awards in the form 

of grants. CMF Awards must be used to 

support the eligible activities as set forth 

in 12 CFR 1807.301. A CMF Award 

Recipient may not distribute the CMF 

Award to any Affiliate, Subsidiary, or 

third-party entity in any manner that 

would create a Subrecipient 

relationship (as defined in the Uniform 

Administrative Requirements) without 

the CDFI Fund’s prior written consent. 

The Recipient of a CMF Award must 

retain all obligations related to the 

Award. This restriction does not prevent 

a Recipient from using its CMF Award 

to loan to or invest directly in an 

Affiliate (separate legal entity) or in a 

specific Project being undertaken by an 

Affiliate, unless the Affiliate received a 

CMF Award in the same funding round. 

C. Limitations on using CMF Awards 

in conjunction with other CDFI Fund 

awards/allocations: 1. A CMF Award 

Recipient may not use its CMF Award 

for any project that also receives 

funding from other CDFI Fund program 

awards or allocations the Recipient (or 

any of its Affiliates) has received, except 

when the CMF Award dollars are used 

to finance/support a different ‘‘phase’’ 

of development in the same Project than 

that financed by other CDFI Fund 

awards or allocations. The separate 

phases of development financing are: (1) 

Predevelopment; (2) acquisition; (3) site 

work (preconstruction); (4) 

construction/rehabilitation; (5) 

permanent financing; and (6) bridge 

financing between two or more phases. 

Additionally, one or more Affiliated 

entities may not use CMF Award funds 

from the same funding round to finance/ 

support the same Project, regardless of 

whether the funds are used in different 

phases of the Project. 

The phase restriction above does not 

apply to the Recipient’s prior CMF 

Awards. The Recipient may combine its 

multiple CMF Awards to provide 

financing on any Project, including 

financing the same phase of any Project. 

However, the Recipient may not deem 

the same costs as Eligible Project Costs 

under multiple CMF Awards and must 

prorate the unit production performance 

across its multiple CMF Awards. 

Similarly, Affiliates with CMF Awards 

from different rounds may only use 

those Awards to finance the same 

Project if they prorate Eligible Projects 

and unit production performance among 

the Affiliates (i.e., Affiliates may not use 

the same Eligible Project Costs or 

housing units to meet Assistance 

Agreement requirements under separate 

CMF Awards). 

If providing Homeownership 

assistance, a CMF Award may be used 

in conjunction with awards/allocations 

from other CDFI Fund programs only if 

the Project can be divided into such 

phases, and the CMF Award is used in 

a different phase from the other CDFI 

Fund program awards/allocations. To 

clarify, a CMF Award cannot be used for 

a Homeownership property that is 

permanently financed (or supported) by 

both the Recipient’s (or any of its 

Affiliates’) CMF Award and an award/ 

allocation from another CDFI Fund 

program (e.g., down payment assistance 

funded from CMF Award may not be 

combined with a permanent mortgage 

funded from another CDFI Fund 

program). 

2. Costs financed and/or supported by 

the Recipient’s other awards/allocations 

from CDFI Fund programs, including 

awards from prior CMF rounds, may not 

be counted or reported as Leveraged 

Costs for the CMF Award pursuant to 

this NOFA as further set forth in the 

Assistance Agreement. While the 

Recipient may combine its CMF Award 

pursuant to this NOFA with prior issued 

CMF Awards to finance/support the 

same Project, each CMF Award must 

separately meet the program 

requirements as outlined in the 

applicable Assistance Agreement and 

the CMF Interim Rule (12 CFR part 

1807). 

In all cases, the CMF Award remains 

subject to the following restriction 

imposed by the CDFI Bond Guarantee 

Program: Award funds received under 

any CDFI Fund program cannot be used 

by any participant of the CDFI Bond 

Guarantee Program, including Qualified 

Issuers, Eligible CDFIs, and Secondary 

Borrowers, to pay principal, interest, 

fees, administrative costs, or issuance 

costs (including Bond Issuance Fees) 

related to the CDFI Bond Guarantee 

Program, or to fund the Risk Share Pool 

for a Bond Issue (all capitalized terms 

used in this sentence, other than ‘‘CMF 

Award,’’ shall have the meanings 

ascribed to them in the CDFI Bond 

Guarantee Program regulations and 

applicable guidance). 

D. Anticipated Start Date and Period 

of Performance: The CDFI Fund 

anticipates the period of performance 

for the FY 2021 CMF Round to begin in 

early 2022. The period of performance 

for each CMF Award begins with the 

date that the CDFI Fund announces the 

Recipients of FY 2021 CMF Awards and 

continues until the end of the ten-year 

period of affordability for all Projects 

financed and/or supported with the 

CMF Award, as set forth at 12 CFR 

1807.401(d) and 12 CFR 1807.402, and 

as further set forth in the Assistance 

Agreement, during which time the 

Recipient must meet certain 

Performance Goals. 

E. Eligible Activities: A CMF Award 

must support or finance activities that 

attract private capital for and increase 

investment in (i) the Development, 

Preservation, Rehabilitation, or 

Purchase of Affordable Housing for 

primarily Low-, Very Low-, and 


jbell on DSKJLSW7X2PROD with NOTICES
50776 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

Extremely Low-Income Families, and 

(ii) Economic Development Activities. 

CMF Awards may only be used as 

follows: (i) To provide Loan Loss 

Reserves, (ii) to capitalize a Revolving 

Loan Fund, (iii) to capitalize an 

Affordable Housing Fund, (iv) to 

capitalize a fund to support Economic 

Development Activities, (v) for RiskSharing Loans, or (vi) to provide Loan 

Guarantees. No more than 30% of a 

CMF Award may be used for Economic 

Development Activities. For the FY 

2021 CMF Round, the CDFI Fund will 

allow all Recipients to use up to 5% of 

their CMF Award for Direct 

Administrative Expenses. The amount 

available for Direct Administrative 

Expenses may only be used for direct 

costs (as defined by the Uniform 

Administrative Requirements) incurred 

by the Recipient and related to the 

financing and/or support of a Project. 

The CDFI Fund considers the tracking of 

impacts and outcomes associated with 

Projects financed and/or supported by a 

CMF Award to fall under Direct 

Administrative Expenses. Any portion 

of the amount available for Direct 

Administrative Expenses may be used 

for direct costs related to the effective 

tracking and evaluation of program or 

evidence-based outcomes for Projects. 

III. Eligibility Information 

A. Eligible Applicants: In order to be 

eligible to apply for a CMF Award, an 

Applicant must either be a Certified 

CDFI or a Nonprofit Organization, as 

defined in 12 CFR 1807.104. Table 2 

indicates the criteria that each category 

of Applicant must meet in order to be 

eligible for a CMF Award pursuant to 

this NOFA. Note: A Certified CDFI that 

is also a Nonprofit Organization only 

needs to meet the Certified CDFI 

eligibility criteria described in Table 2, 

below, in order to be eligible for a CMF 

Award. 

TABLE 2—APPLICANT ELIGIBILITY REQUIREMENTS

Category Eligibility requirements 

Certified CDFI ...................... • Has been in existence as a legally formed entity for at least 3 years prior to the AMIS Application deadline 

under this NOFA; 

• Has been determined by the CDFI Fund to meet the CDFI certification requirements set forth in 12 CFR 

1805.201 and as verified in the CDFI’s AMIS account as of the publication date of this NOFA; and 

• Has not been notified in writing by the CDFI Fund that its certification has been terminated. 

• In cases where the CDFI Fund has provided a Certified CDFI with written notification that it no longer meets 

one or more certification standards and has been given an opportunity to cure, the CDFI Fund will continue to 

consider this Applicant to be a Certified CDFI until it has received a final determination letter that its certification has been terminated. 

• Has audited financial statements encompassing its two most recently completed fiscal years prior to the publication date of this NOFA. A Regulated Institution that files call reports to its regulator is exempt from this requirement and must attach call reports for its two most recently completed fiscal years in lieu of audited financial statements. 

Nonprofit Organization ......... • Has been in existence as a legally formed entity for at least 3 years prior to the AMIS Application deadline 

under this NOFA; 

• Meets the definition of Nonprofit Organization set forth in 12 CFR 1807.104. 

• Demonstrates, through articles of incorporation, by-laws, or other board-approved documents, that the development or management of affordable housing are among its principal purposes; and 

• Demonstrates by providing an attestation in the Application that at least 33.3% of its total assets are dedicated 

to the development or management of affordable housing. 

• Has audited financial statements encompassing its two most recently completed fiscal years prior to the publication date of this NOFA. A Regulated Institution that files call reports to its regulator is exempt from this requirement. 

Debarment/Do Not Pay 

Verification.

• The CDFI Fund will conduct a debarment check and reserves the right, in its sole discretion, to not consider an 

Application submitted by an Applicant (or Affiliate of an Applicant) as eligible if the Applicant and/or Affiliate is 

delinquent on any Federal debt. 

• The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the 

number of improper payments made through programs funded by the Federal government. The Do Not Pay 

Business Center provides delinquency information to the CDFI Fund to assist with the debarment check. 

System for Award Management (SAM).• Each Applicant, including Affiliated Applicants, must have its own active SAM registration in order to submit the 

required Application materials through Grants.gov. 

• SAM is a web-based, government-wide application that collects, validates, stores, and disseminates business 

information about the federal government’s trading partners in support of the contract awards, grants, and electronic payment processes. See SAM.gov for more information. 

• Applicants must have a login.gov account to sign into SAM. Applicants must also have a DUNS number and an 

EIN in order to register in SAM. 

• Applicants must complete registration in SAM in order to be able to complete the Grants.gov registration and 

submit an SF–424. 

• 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 March 1, 2022, and the Applicant does not reactivate or renew (as applicable) the account within the deadlines that the CDFI Fund communicates to affected Applicants during the Application evaluation period. 

Application type and submission method through 

Grants.gov and Awards 

Management Information 

System (AMIS).

• Each Applicant must submit the required Application documents listed in Table 4. 

• The CDFI Fund will only accept Applications that use the official Application templates provided on the 

Grants.gov and AMIS websites. Applications submitted with alternative or altered templates will not be considered. 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50777 

TABLE 2—APPLICANT ELIGIBILITY REQUIREMENTS—Continued 

Category Eligibility requirements 

• Applicants undergo a two-step process that requires the submission of Application documents by two separate 

deadlines in two different locations: (1) The SF–424 in Grants.gov and (2) all other Required Application Documents in AMIS. 

• Grants.gov and the SF–424 Mandatory form: 

Æ Applicants must submit the Office of Management and Budget (OMB)-approved Standard Form (SF) 424 Mandatory (Application for Federal Assistance) form in Grants.gov. 

Æ All Applicants must register in the Grants.gov system to successfully submit an Application. The Grants.gov 

registration process can take 30 days or more to complete. The CDFI Fund strongly encourages Applicants to 

register as early as possible to meet the deadlines in Table 1. 

Æ The SF–424 must be submitted in Grants.gov before the other Application materials are submitted in AMIS. 

Applicants are strongly encouraged to submit their SF–424 as early as possible via the Grants.gov portal. 

Æ Because the SF–424 is part of the Application, if the SF–424 is not accepted by Grants.gov by the applicable 

deadline, the Applicant will not be able to submit the AMIS Application. 

Æ The SF–424 must be submitted under the FY 2021 CMF Funding Opportunity Number. 

Æ The CDFI Fund will not extend the SF–424 application deadline for any Applicant that started the Grants.gov 

registration process on, before, or after the date of the publication of this NOFA, but did not complete it by the 

deadline, except in the case of a Federal government administrative or technological error that directly resulted 

in a late submission of the SF–424. 

• AMIS: 

Æ Applicants must submit all other required Application materials in AMIS. 

Æ AMIS is the CDFI Fund’s enterprise-wide information technology system that will be used to submit and store 

organization and Application information with the CDFI Fund. 

Æ Applicants are only allowed one Capital Magnet Fund. 

Æ Application submission per funding round in AMIS. 

Æ Affiliated entities must submit every component of the Application separate from its Affiliates. 

Æ Each Application in AMIS must be signed by an Authorized Representative. The Authorized Representative is 

an employee or officer of the Applicant, authorized to sign legal documents on behalf of the organization. Consultants working on behalf of the organization may not be designated as Authorized Representatives. 

Æ Only an Authorized Representative or Application Point of Contact included in the Application may submit the 

Application in AMIS. 

Æ All Required Application Documents must be submitted in AMIS on or before the deadline specified in Table 1. 

Æ The CDFI Fund will not extend the deadline for any Applicant except in the case of a Federal government administrative or technological error that directly resulted in the late submission of the Application in AMIS. 

Employer Identification Number (EIN).• Each Applicant must have a unique EIN assigned by the Internal Revenue Service (IRS). 

• The CDFI Fund will reject an Application submitted with the EIN of a parent or Affiliate of the Applicant. 

• The EIN in the Applicant’s AMIS account must match the EIN on the SF–424 submitted through Grants.gov 

and 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 on the SF–424 

and/or its SAM account. 

• The EIN of the Applicant must be entered into the AMIS organization profile by the applicable deadline in Table 

1. 

DUNS number ...................... • Pursuant to OMB guidance (68 FR 38402), an Applicant must apply using its unique DUNS number in 

Grants.gov. 

• The CDFI Fund will reject an Application submitted with the DUNS number of a parent or Affiliate of the Applicant. 

• The DUNS number of the Applicant must be entered into the AMIS organization profile by the applicable deadline in Table 1. 

• The DUNS number in the Applicant’s AMS account must match the Applicant’s DUNS number on the SF–424 

submitted through Grants.gov and its SAM.gov account. The CDFI Fund reserves the right to reject an Application if the DUNS number in the Applicant’s AMIS account does not match the DUNS number on the SF–424 

and/or SAM.gov accounts. 

AMIS Account ...................... • Each Applicant, including Affiliated Applicants, must register as an organization in AMIS and submit all required 

Application materials through the AMIS portal. 

• If the Applicant does not fully register its organization in AMIS by the deadline set forth in Table 1, its Application will be rejected without further consideration. 

• The Authorized Representative and 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 communications 

from the CDFI Fund or 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 apply 

for or receive a CMF Award. 

Compliance with Nondiscrimination and Equal 

Opportunity Statutes, Regulations, and Executive 

Orders.

• An Applicant may not be eligible to receive an award if proceedings have been instituted against it in, by, or 

before any court, governmental agency, or administrative body, and a final determination, issued within the last 

3 years as of the publication date of this NOFA, indicates the Applicant has violated any of the following laws: 

Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 

1973 (29 U.S.C. 794); the Age Discrimination Act of 1975 (42 U.S.C. 6101–6107); Title VIII of the Civil Rights 

Act of 1968, as amended (42 U.S.C. 3601 et seq.); Executive Order 13166, Improving Access to Services for 

Persons with Limited English Proficiency, and Title IX of the Education Amendments of 1972. 


jbell on DSKJLSW7X2PROD with NOTICES
50778 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

3Regulated Institutions include Insured Credit 

Unions, Insured Depository Institutions, StateInsured Credit Unions, and Depository Institution Holding Companies. 

TABLE 2—APPLICANT ELIGIBILITY REQUIREMENTS—Continued 

Category Eligibility requirements 

Depository Institution Holding 

Company Applicant.

• In the case where a CDFI Depository Institution Holding Company Applicant intends to carry out the activities 

of its award through its Subsidiary CDFI Insured Depository Institution, the Application must be submitted by 

the CDFI Depository Institution Holding Company and reflect the activities and financial performance of the 

Subsidiary CDFI Insured Depository Institution. 

• The Authorized Representative of the Depository Institution Holding Company Applicant must certify that the information included in the Application represents that of the Subsidiary CDFI Insured Depository Institution, and 

that the Award will be used to support the Subsidiary CDFI Insured Depository Institution for the eligible activities outlined in the Application. 

Regulated Institutions 3 ......... • To be eligible for an Award, each Regulated Institution Applicant must have a CAMELS/CAMEL composite rating (rating for banks and credit unions, respectively), by its Federal regulator of at least ‘‘3.’’ 

• Organizations with CAMELS/CAMEL composite ratings of ‘‘4’’ or ‘‘5’’ will not be eligible for awards. 

• Organizations with a Prompt Corrective Action directive from its regulator will not be eligible for awards. 

• The CDFI Fund will also evaluate material concerns identified by the Appropriate Federal Banking Agency in 

determining eligibility of Regulated Institution Applicants. 

Any Applicant that does not meet the 

criteria in Table 2 is ineligible to apply 

for a CMF Award under this NOFA. 

Further, Section III.B describes 

additional considerations applicable to 

prior Recipients and/or allocatees under 

any CDFI Fund program. 

B. Prior Award Recipients: Eligibility 

determinations in prior funding rounds 

have no bearing on and do not guarantee 

eligibility in this round. Prior CMF 

Award Recipients and prior award 

recipients of other CDFI Fund programs 

will be eligible to apply under this 

NOFA if they meet the eligibility criteria 

in Table 2, except as noted in Table 3. 

TABLE 3—ELIGIBILITY REQUIREMENTS FOR APPLICANTS WHICH ARE PRIOR AWARD/ALLOCATION RECIPIENTS

Criteria Description 

Pending resolution of noncompliance.• If an Applicant (or Affiliate of an Applicant) that is a prior recipient or allocatee under any CDFI Fund program: 

(i) Has demonstrated it has been in noncompliance with 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. 

Default or Noncompliance 

status.

• The CDFI Fund will not consider 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 of this NOFA, the 

CDFI Fund has made a final determination in writing that such Applicant (or Affiliate of such Applicant) is in 

noncompliance with or default of a previously executed assistance agreement, award agreement, allocation 

agreement, bond loan agreement, or agreement to guarantee. 

• Such entities will be ineligible to apply for an Award pursuant to this NOFA if the CDFI Fund has provided written notification that such entity is ineligible to apply for or receive any future CDFI Fund awards or allocations. 

Such entities will be ineligible to submit an application for such time period as specified by the CDFI Fund in 

writing. 

C. Contacting the CDFI Fund: 

Applicants that are prior Recipients 

and/or allocatees under any CDFI Fund 

program are advised to comply with 

requirements specified in an Assistance 

Agreement, allocation agreement, bond 

loan agreement, or agreement to 

guarantee, and to ensure their Affiliates 

are in compliance with any agreements. 

All outstanding reporting and 

compliance questions should be 

directed to the Office of Certification, 

Compliance Monitoring, and Evaluation 

help desk by AMIS Service Requests 

(select ‘‘Capital Magnet Fund’’ for 

‘‘Program’’), via email CCME@

cdfi.treas.gov, or by telephone at (202) 

653–0421. For general questions, 

organizations with an AMIS account are 

strongly encouraged to submit a Service 

Request in AMIS using ‘‘Capital Magnet 

Fund’’ for the Service Request program. 

Members of the public that do not have 

AMIS accounts can contact Capital 

Magnet Fund staff via email at CMF@

cdfi.treas.gov. The CDFI Fund will not 

respond to Applicants’ reporting, 

compliance, or disbursement telephone 

calls or email inquiries that are received 

after 5:00 p.m. ET on November 4, 2021 

until after the Application deadline. The 

CDFI Fund will respond to technical 

issues related to AMIS Accounts 

through 5:00 p.m. ET on November 9, 

2021, via AMIS Service Requests, or at 

AMIS@cdfi.treas.gov, or by telephone at 

(202) 653–0422. 

D. Cost sharing or matching funds 

requirements: Not applicable. 

E. Other Eligibility Criteria: 

1. Affiliates: As part of the 

Application review process, the CDFI 

Fund considers whether Applicants are 

Affiliates, as such term is defined in 12 

CFR1807.104. Affiliates may submit 

separate Applications under this NOFA. 

However, each Affiliate submitting an 

Application must meet all of the 

eligibility requirements on its own 

behalf and may not rely on any other 

organization for eligibility purposes. 

Moreover, an Applicant must propose a 

substantially different strategy than its 

Affiliate(s) applying under this NOFA. It 

must also present a distinct project 

pipeline and rely on its own track 

record and not the track record of any 

Affiliate also submitting an Application 

under this NOFA. If the CDFI Fund 

deems that the Applications submitted 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50779 

4The Management Letter may include 

suggestions for improving identified weaknesses 

and deficiencies and/or best practice suggestions for 

items that may not be considered to be weaknesses 

or deficiencies. The Management Letter may also 

include items that are not required to be disclosed 

in the annual audited financial statements. The 

Management Letter is distinct from the auditor’s 

Opinion Letter, which is required by Generally 

Accepted Accounting Principles (GAAP). 

Management Letters are not required by GAAP and 

are sometimes provided by the auditor as a separate 

letter from the audit itself. 

by Affiliates contain overlapping or 

substantially similar pipelines or 

strategies, the CDFI Fund may, at its 

discretion, reject all such Applications 

received or select only one of the 

submitted Applications to deem 

eligible, assuming that Application 

meets all other eligibility criteria in 

Section III of this NOFA. Collectively, 

all Affiliates may not request more than 

15% of the total amount available under 

this NOFA. 

2. An Applicant will not be eligible to 

receive a CMF Award if the Applicant 

fails to demonstrate in the Application 

that its CMF Award would result in 

Eligible Project Costs (Leveraged Costs 

plus those costs funded by the CMF 

Award) that equal at least 10 times the 

amount of the CMF Award. Note that no 

costs attributable to Direct 

Administrative Expenses may be 

considered Eligible Project Costs. 

IV. Application and Submission 

Information 

A. Address to Request Application 

Package: Application materials can be 

found on Grants.gov and the CDFI 

Fund’s website at www.cdfifund.gov/ 

cmf. If an Applicant is unable to access 

Grants.gov or the CDFI Fund’s website, 

an Applicant may request a paper 

version of any Application material by 

contacting the CDFI Fund Help Desk by 

email at cmf@cdfi.treas.gov or by phone 

at (202) 653–0421. 

B. Content and Form of Application 

Submission: The CDFI Fund will post to 

its website, at www.cdfifund.gov/cmf, 

instructions for accessing and 

submitting an Application. Detailed 

Application content requirements are 

found in the Application and related 

guidance documents. All Applications 

must be prepared in English and 

calculations must be made in U.S. 

dollars. Table 4 lists the required 

funding Application documents for the 

FY 2021 CMF Round. Applicants must 

submit all required documents for the 

Application to be deemed complete. 

Please be aware that an Applicant that 

fails to submit audited financial 

statements for its two most recently 

completed fiscal years will be deemed 

as not having a complete Application 

and will be considered ineligible. A 

Regulated Institution that submits call 

reports for its two most recently 

completed fiscal years is exempted from 

this requirement. 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. 

Information submitted must accurately 

reflect the Applicant’s activities and/or 

its Subsidiary Insured Depository 

Institution, in the case where the 

Applicant is an Insured Depository 

Institution Holding Company. 

TABLE 4—FUNDING APPLICATION DOCUMENTS

Application document Submission format Required? 

Standard Form (SF) 424 Mandatory Form ................................................................................... Fillable PDF in 

Grants.gov.

Required for all Applicants. 

CMF Application ............................................................................................................................ AMIS ........................... Required for all Applicants. 

ATTACHMENTS TO THE APPLICATION 

Audited financial statements for the most recently completed 2 fiscal years. Regulated Institutions may submit call reports in lieu of audited financial statements.PDF in AMIS ............... Required for all Applicants. 

Any Management Letters, if applicable, related to the audited financial statements for the 

most recently completed 2 fiscal years. The Management Letter is prepared by the Applicant’s auditor and provides communication on internal control over financial reporting, compliance, and other matters.4 If no Management Letter was issued for either of the two most 

recently completed fiscal years, the Applicant must attach a document explicitly stating 

such.

PDF in AMIS ............... Required for all Applicants. 

State Charter, Articles of Incorporation, authorizing statute, or other establishing documents 

designating that the Applicant is a nonprofit or not-for-profit entity under the laws of the organization’s State of formation.

PDF in AMIS ............... Required only for Applicants that are not 

Certified CDFIs. 

A certification demonstrating tax exempt status from the IRS. Only Applicants that are governmental instrumentalities, and are unable to provide such determination from the IRS and 

meet all other eligibility requirements, must submit a legal opinion from counsel, in form and 

substance acceptable to the CDFI Fund, opining that the Applicant is exempt from Federal 

income tax.

PDF in AMIS ............... Required only for Applicants that are not 

Certified CDFIs. 

Articles of incorporation, by-laws, authorizing statute, or other documents demonstrating that 

the Applicant has a principal purpose of managing or developing affordable housing.

PDF in AMIS ............... Required only for Applicants that are not 

Certified CDFIs. 

The CDFI Fund has a sequential, twostep process that requires the submission of Application documents 

in separate systems with two separate 

deadlines. The SF–424 must be 

submitted through Grants.gov and all 

other Application documents through 

the AMIS portal. The CDFI Fund will 

not accept Applications via email, mail, 

facsimile, or other forms of 

communication, except in extremely 

rare circumstances that have been preapproved by the CDFI Fund. The 

separate Application deadlines for the 

SF–424 and all other Application 

materials are listed in Tables 1 and 6. 

Only the Authorized Representative for 

the Organization or Application Point of 

Contact designated in AMIS may submit 

the Application through AMIS. 

Applicants are strongly encouraged to 

submit the SF–424 as early as possible 

through Grants.gov in order to provide 


jbell on DSKJLSW7X2PROD with NOTICES
50780 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

sufficient time to resolve any potential 

submission issues. Applicants should 

contact Grants.gov directly with 

questions related to the registration or 

submission process, as the CDFI Fund 

does not administer the Grants.gov 

system. 

The CDFI Fund strongly encourages 

Applicants to start the Grants.gov 

registration process as soon as possible, 

as it may take several weeks to complete 

(refer to the following link: http://

www.grants.gov/web/grants/ 

register.html). An Applicant that has 

previously registered with Grants.gov 

must verify that its registration is 

current and active. If an Applicant has 

not previously registered with 

Grants.gov, it must first successfully 

register in SAM.gov, as described in 

Section IV.D below. 

C. Dun and Bradstreet Data Universal 

Numbering System (DUNS): Pursuant to 

the Uniform Administrative 

Requirements, each Applicant must 

provide as part of its Application 

submission a valid Dun & Bradstreet 

Data Universal Numbering System 

(DUNS) number. Any Applicant without 

a DUNS number will not be able to 

register in SAM or register and submit 

an Application in the Grants.gov 

system. Please allow sufficient time for 

Dun & Bradstreet to respond to inquiries 

and/or requests for DUNS numbers. 

D. 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 materials 

through that platform. 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. The SAM registration process 

can take four weeks or longer to 

complete so Applicants are strongly 

encouraged to begin the registration 

process upon publication of this NOFA 

in order to avoid potential Application 

submission issues. An original, signed 

notarized letter identifying the 

authorized entity administrator for the 

entity associated with the DUNS 

number is required by SAM and must be 

mailed to the Federal Service Desk. This 

requirement is applicable to new 

entities registering in SAM or on 

existing registrations where there is no 

existing entity administrator. Existing 

entities with registered entity 

administrators do not need to submit an 

annual notarized letter. Applicants 

without DUNS and/or EIN numbers 

should allow for additional time as an 

Applicant cannot register in SAM 

without those required numbers. 

Applicants that have previously 

completed the SAM registration process 

must verify that their SAM accounts are 

current and active. 

Applicants are required to maintain a 

current and active SAM account at all 

times during which it has an active 

Federal award or an Application under 

consideration for an award by a Federal 

awarding agency. 

The CDFI Fund will not consider 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 the Application by the 

applicable Application deadline. 

Applicants must contact SAM directly 

with questions related to registration or 

SAM account changes, as the CDFI 

Fund does not maintain this system. For 

more information about SAM, please 

visit https://www.sam.gov or call 866– 

606–8220. 

TABLE 5—GRANTS.GOV REGISTRATION TIMELINE SUMMARY

Step Agency Estimated minimum 

time to complete 

Obtain a DUNS number .................................... Dun & Bradstreet ................................................................................... One Week * 

Obtain an EIN Number ...................................... Internal Revenue Service (IRS) ............................................................. Two Weeks * 

Register in SAM.gov .......................................... System for Award Management (SAM) ................................................. Four Weeks * 

Register in Grants.gov ....................................... Grants.gov .............................................................................................. One Week ** 

* Applicants are advised that the stated duration are estimates only and represent minimum timeframes. Actual timeframes may take longer. 

The CDFI Fund will not consider any Applicant that fails to properly register or activate its SAM account, has not yet received a DUNS number, 

and/or fails to properly register in Grants.gov. 

** This estimate assumes an Applicant has a DUNS number, an EIN number, and is already registered in SAM.gov. 

E. Submission Dates and Times: 

1. Submission Deadlines: Table 6 lists 

the deadlines for submission of the 

documents related to the FY 2021 CMF 

Funding Round: 

TABLE 6—FY 2021 CMF DEADLINES FOR APPLICANTS

Document Deadline Time—eastern time (ET) Submission method 

SF–424 Mandatory form ................ October 12, 2021 .......................... 11:59 pm ET ................................. Electronically via Grants.gov. 

Create AMIS Account (if the Applicant does not already have one).October 12, 2021 .......................... 11:59 pm ET ................................. Electronically via AMIS. 

CMF Application and Required Attachments.November 9, 2021 ........................ 5:00 pm ET ................................... Electronically via AMIS. 

2. Confirmation of Application 

Submission in Grants.gov and AMIS: 

Applicants are required to submit the 

SF–424 Mandatory Form through the 

Grants.gov system under the FY 2021 

Capital Magnet Fund Funding 

Opportunity Number (listed at the 

beginning of this NOFA). All other 

required Application materials must be 

submitted through the AMIS website. 

Application materials submitted 

through each system are due by the 

applicable deadline listed in Table 6. 

Applicants must submit the SF–424 by 

an earlier deadline than that of the other 

required Application materials in AMIS. 

If a valid SF–424 is not submitted 

through Grants.gov by the 

corresponding deadline, the Applicant 

will not be able to submit the additional 

Application materials in AMIS, and the 

Application will be deemed ineligible. 

Thus, Applicants are strongly 

encouraged to submit the SF–424 as 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50781 

early as possible in the Grants.gov 

portal, given that potential submission 

issues may impact the ability to submit 

a complete Application. Applicants 

must also ensure that their AMIS 

account contains the correct EIN and 

DUNS numbers by the deadline listed in 

Table 1 of this NOFA. 

(a) Grants.gov Submission 

Information: Each Applicant will 

receive an initial 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 checking Grants.gov 

directly. The Application materials 

submitted in AMIS are not accepted by 

the CDFI Fund until Grants.gov has 

validated the SF–424. In the Grants.gov 

Workspace function, please note that 

the Application package has not been 

submitted if you have not received a 

tracking number. 

(b) AMIS Submission Information: 

AMIS is a web-based portal where 

Applicants will directly enter their 

Application information and add 

required attachments listed in Table 4. 

Each Applicant must register as an 

organization in AMIS in order to submit 

the required Application materials 

through this portal. 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 in the Application 

and in the attachments included in the 

Application submitted in AMIS. The 

CDFI Fund strongly encourages the 

Applicant to allow sufficient time to 

confirm the Application content, review 

the material submitted, and remedy any 

issues prior to the Application deadline. 

Applicants can only submit one 

Application in AMIS. 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 AMIS 

Application submissions. 

Prior to submission, each Application 

in AMIS must be signed by an 

Authorized Representative. An 

Authorized Representative is an 

employee or officer that has the 

authority to legally bind and make 

representations on behalf of the 

Applicant; consultants working on 

behalf of the Applicant cannot be 

designated as Authorized 

Representatives. The Applicant may 

include consultants as Application 

point(s) of contact, who will be 

included on any communication 

regarding the Application and will be 

able to submit the Application but 

cannot digitally sign the Application. 

The Authorized Representative and/or 

Application point(s) of contact must be 

included as ‘‘Contacts’’ in the 

Applicant’s AMIS account. The 

Authorized Representative must also be 

a ‘‘user’’ in AMIS. An Applicant that 

fails to properly register and update its 

AMIS account may miss important 

communications from the CDFI Fund or 

fail to submit an Application 

successfully. Only an Authorized 

Representative for the organization or an 

Application point of contact can submit 

the Application in AMIS. After 

submitting its Application, the 

Applicant will not be permitted to 

revise or modify its Application in any 

way. 

3. Multiple Application Submissions: 

Each Applicant is only permitted to 

submit one complete Application in 

AMIS. However, the CDFI Fund does 

not administer Grants.gov, which does 

allow for multiple submissions of the 

SF–424. If an Applicant submits 

multiple SF–424 Applications in 

Grants.gov, the CDFI Fund will only 

review the SF–424 Application 

submitted in Grants.gov that is attached 

to the AMIS Application. 

4. Late Submission: The CDFI Fund 

will not accept an Application if a valid 

SF–424 is not submitted by Grants.gov 

by the SF–424 deadline. Additionally, 

the CDFI Fund will not accept an 

Application if it is not signed by an 

Authorized Representative and 

submitted in AMIS by the Application 

deadline. In either case, the CDFI Fund 

will not review any material submitted 

and the Application will be deemed 

ineligible, except where the submission 

delay was a direct result of a Federal 

government administrative or 

technological error. This exception 

includes any errors associated with 

Grants.gov, SAM.gov, AMIS, or any 

other applicable government system. 

Please note that this exception does not 

apply to errors arising from obtaining a 

DUNS number from Dun & Bradstreet, 

which is not a government entity. An 

Applicant unable to make timely 

submission of its Application due to any 

errors in the process of obtaining a 

DUNS number will not be allowed to 

submit its Application after the 

Application deadline has passed. 

(a) SF–424 Late Submission: In cases 

where a Federal government 

administrative or technological error 

directly resulted in the late submission 

of the SF–424, the Applicant must 

submit a Service Request in AMIS 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 CMF 

Program with a subject line of ‘‘CMF 

Late SF–424 Submission Request.’’ 

(b) Application Late Submission: In 

cases where a Federal government 

administrative or technological error 

directly resulted in a late submission of 

the Application in AMIS, the Applicant 

must submit a Service Request in AMIS 

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 CMF Program with a subject line 

of ‘‘CMF Late Application Submission 

Request.’’ 

5. Intergovernmental Review: Not 

Applicable. 

6. Funding Restrictions: CMF Awards 

are limited by the following: 

(a) A Recipient shall use CMF Award 

funds only for the eligible activities set 

forth in 12 CFR 1807.301 and as 

described in Section II.C and Section 

II.E of this NOFA and its Assistance 

Agreement. 

(b) A Recipient may not disburse CMF 

Award funds to an Affiliate, Subsidiary, 

or any other entity in any manner that 

would create a Subrecipient 

relationship (as defined in the Uniform 

Administrative Requirements) without 

the CDFI Fund’s prior written approval. 

(c) CMF Award dollars shall only be 

paid to the Recipient. 

(d) The CDFI Fund, in its sole 

discretion, may pay CMF Awards in 

amounts, or under terms and 

conditions, which are different from 

those requested by an Applicant. 

However, the CDFI Fund will not grant 

an Award in excess of the amount 

requested by the Applicant. 


jbell on DSKJLSW7X2PROD with NOTICES
50782 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

V. Application Review Information 

A. Criteria: All complete and eligible 

Applications will be reviewed in 

accordance with the criteria and 

procedures described in the CMF 

Interim Rule, this NOFA, the 

Application guidance, and the Uniform 

Administrative Requirements. As part of 

the review process, the CDFI Fund 

reserves the right to contact the 

Applicant by telephone, email, mail, or 

through an on-site visit for the sole 

purpose of clarifying or confirming 

Application information at any point 

during the review process. The CDFI 

Fund reserves the right to collect such 

additional information from Applicants 

as it deems appropriate. If contacted, the 

Applicant must respond within the time 

period communicated by the CDFI Fund 

or its Application may be rejected. For 

the sake of clarity, specific Application 

evaluation criteria are described in the 

context of the overall Application 

review and selection process described 

in Section V.B. below. 

B. Review and Selection Process: The 

CDFI Fund will evaluate each complete 

and eligible Application using the 

multi-phase review process described in 

this Section. For the first part of the 

review process, the External Review, the 

Applications will be grouped into two 

categories depending on their approach: 

(1) Financing entities and (2) affordable 

housing developers/managers. All 

Applicants will be able to select 

whether they are applying with a 

financing entity approach or with an 

affordable housing developer/manager 

approach. However, all eligibility 

requirements, as either a certified CDFI 

or Nonprofit Organization, must be met. 

In most cases, CDFIs will select the 

financing entity approach; however, a 

CDFI that is applying with a strategy to 

act as an affordable housing developer 

and has a track record as an affordable 

housing developer, can select the 

affordable housing developer/manager 

entity approach. The Applications of 

these two groups will be evaluated 

based on the criteria listed in this 

section. Where appropriate, the CDFI 

Fund will use different criteria in order 

to evaluate the financial health, 

capacity, portfolio performance, and 

projected activities of the Applicant 

based on these distinct approaches. 

These differences are noted in the 

following sections and the Application 

Instructions. 

1. External Review and Quantitative 

Assessment: All eligible Applications 

will be evaluated through a Quantitative 

Assessment and External Review. The 

Quantitative Assessment evaluates the 

Application’s quantitative factors and is 

performed automatically in AMIS. In 

the External Review, Applications will 

be separately scored by two or more 

external non-Federal reviewers who are 

selected based on criteria that include: 

A professional background in affordable 

housing or in community and economic 

development finance with experience 

with affordable housing. These 

reviewers must complete the CDFI 

Fund’s conflict of interest process and 

be approved by the CDFI Fund. 

Reviewers will be assigned a set number 

of Applications to review, consisting of 

either Applicants with a financing 

entity approach or Applicants with an 

affordable housing developer/manager 

approach. The reviewer will provide a 

score for each of the Applications 

assessed in accordance with the scoring 

criteria outlined in Section V.B.2 of this 

NOFA and the Application materials. 

The external reviewer’s evaluation, in 

combination with the quantitative 

assessment factors, will result in the 

Application being awarded up to 100 

points for each review scorecard. The 

majority of the score will be based on 

the external reviewer’s evaluation. 

These points will be distributed across 

three sections: Business and Leveraging 

Strategy (40 possible points), 

Community Impact (35 possible points), 

and Organizational Capacity (25 

possible points). As each Application is 

evaluated by two external reviewers, the 

maximum score each Application can 

receive is 200 points (100 points × 2 

Reviewers). 

(a) Business and Leveraging Strategy 

(40 points): In the Business and 

Leveraging Strategy section, the 

Applicant will address: (i) The needs of 

communities and persons in the areas it 

proposes to serve with a CMF Award 

and the extent to which the proposed 

strategy addresses these needs; (ii) the 

affordable housing, economic 

development, and financing gaps 

addressed by its business strategy; (iii) 

the projected CMF activities and 

relevant track record; (iv) the role CMF 

will play in its project financing 

strategy; (v) its strategy for leveraging 

private capital with a CMF Award; and 

(vi) its strategy for leveraging its CMF 

Award at the Enterprise-level, through 

re-investments, and/or at the Projectlevel (as applicable). 

An Applicant will generally score 

more favorably in the criteria evaluated 

by the external review and by the 

quantitative assessment factors to the 

extent that it: (i) Clearly aligns its 

proposed CMF Award activities with 

the affordable housing needs and 

financing gaps it identifies; (ii) 

demonstrates that its CMF Award 

activities will result in more favorable 

financing rates and terms to Projects; 

(iii) demonstrates that its projected 

activities are achievable based on the 

Applicant’s strategy and track record; 

(iv) describes a process for selecting 

projects that have a clear need for CMF 

financing; (v) has a credible pipeline of 

projects or can demonstrate clear 

demand for its proposed financial 

products from borrowers; (vi) has a clear 

strategy for and track record of 

leveraging private capital resulting in a 

higher multiplier of private leverage; 

(vii) has a clear strategy for attracting 

capital and demonstrates a track record 

of leveraging funds at the Enterpriselevel, through re-investments, and/or at 

the Project-level (as applicable); and 

(viii) whether the Application is 

proposing to serve American Samoa, 

Guam, the Northern Mariana Islands, or 

the U.S. Virgin Islands. 

(b) Community Impact (35 points): In 

the Community Impact Section, the 

Applicant will address: (i) The extent to 

which the Applicant’s strategy is likely 

to result in the selected Affordable 

Housing and/or Economic Development 

Activities impacts and its plan to track 

relevant outcome metrics; (ii) for rental 

housing, (a) its strategy for and track 

record of financing and/or supporting 

rental housing units located in Areas of 

Economic Distress or High Opportunity 

Areas; and (b) its strategy for and track 

record of financing rental housing units 

targeted to Very Low-Income (VLI) 

Families (50% of AMI or below); (iii) for 

Homeownership housing, its strategy for 

and track record of financing 

Homeownership units targeted to LowIncome (LI) Families (80% of AMI or 

below) or units located in Areas of 

Economic Distress ; (iv) if applicable, its 

strategy for and track record of financing 

and/or supporting Economic 

Development Activities and how the 

projected activities will align with a 

Concerted Strategy and will benefit the 

residents of nearby Affordable Housing; 

and (v) commitment to and track record 

of serving Rural Areas. 

An Applicant will generally score 

more favorably in the criteria evaluated 

by the external reviewer and by the 

quantitative assessment factors to the 

extent that it: (i) Demonstrates a clear 

strategy for achieving the selected 

Affordable Housing and/or Economic 

Development Activities impacts 

identified in the Application and it 

presents a clear and effective plan to 

track metrics related to relevant 

outcomes; (ii) if rental housing is 

proposed, demonstrates a compelling 

strategy for and track record of financing 

and/or supporting rental housing units 

located in Areas of Economic Distress 

and/or High Opportunity Areas; (iii) if 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50783 

rental housing is proposed, 

demonstrates a compelling strategy for 

and track record of financing and/or 

supporting rental housing units targeted 

to Very Low-Income (VLI) Families 

(50% of AMI or below), with the 

maximum score available to 

Applications that propose to target at 

least 45% of units to Very Low-Income 

Families; (iv) if Homeownership is 

proposed, demonstrates a compelling 

strategy for financing and/or supporting 

up to 100% of CMF Award to 

Homeownership units either targeted to 

Low-Income Families (80% of AMI or 

below) or Homeownership units 

targeted to Eligible-Income Families 

(120% of AMI or below) located in 

AEDs, with the Applicant’s track record 

supporting their ability to execute this 

strategy; (v) if proposing Economic 

Development Activities, demonstrates 

how its proposed Economic 

Development Activities fit within a 

Concerted Strategy and will benefit the 

residents of the nearby Affordable 

Housing; and (vi) makes a commitment 

to invest at least 10% of the CMF Award 

in Rural Areas and presents a 

corresponding track record of serving 

Rural Areas. 

(c) Organizational Capacity (25 

points): In the Organizational Capacity 

section, the Applicant will discuss: (i) 

Its management team and key staff; (ii) 

the roles and responsibilities of those 

staff in managing the proposed CMF 

Award; (iii) its past experience 

managing Federal awards; (iv) its 

financial health; and (v) lending or 

property portfolio (as applicable). 

An Applicant will generally score 

more favorably in the criteria evaluated 

by the external reviewer and by the 

quantitative assessment factors to the 

extent that it demonstrates: (i) Strong 

qualifications of its key personnel with 

respect to their skills and experience in 

identifying investments, underwriting 

or developing similar projects (as 

applicable), and managing a portfolio of 

similar activities and ensuring 

compliance with program requirements; 

(ii) a strong ability to successfully 

manage Federal awards based on 

experience managing prior Federal 

Awards or administering state or local 

government awards, foundation grants, 

or other programs with complex 

compliance requirements; (iv) strong 

financial health, including but not 

limited to strong capitalization, sound 

operating performance, and strong 

liquidity; (iv) favorable audit results 

(e.g., opinion other than unqualified/ 

unmodified) with no negative findings, 

including lack of a ‘‘going concern 

paragraph’’, lack of repeat findings of 

reportable conditions, lack of material 

weaknesses in internal controls, lack of 

delinquencies on obligations to 

investors or lenders, and not having 

filed for bankruptcy or defaulted on 

financial obligations; and (iv) solid 

portfolio performance (property 

portfolio or loan/investment portfolio, 

as applicable). CMF Program encourages 

first-time Applicants. Prior CMF 

Recipients will not receive a scoring 

advantage solely for having received a 

prior CMF Award. 

(d) Scoring anomaly: If, in the case of 

a particular Application, the reviewers’ 

total External Review scores vary 

significantly from each other, the CDFI 

Fund may, in its sole discretion, obtain 

the evaluation and numeric scoring of 

an additional reviewer to determine 

whether the anomalous score should be 

replaced with the score of the additional 

reviewer. 

2. Internal Review: At the conclusion 

of the External Review phase, the CMF 

Program Manager will determine the 

overall number of Applications that will 

be initially forwarded for Internal 

Review. Each group of Applications 

(financing entity approach and 

affordable housing developer/manager 

approach) will be ranked separately 

based on their External Review score. 

The CMF Program Manager may 

initially forward an amount up to the 

highest scoring 50% of Applications 

from the External Review to the Internal 

Review, as long as the forwarded 

Applications reflect, within no more 

than 5% variance, the proportion of 

financing entity approach Applications 

to affordable housing developer/ 

manager approach Applications in the 

overall Application Pool. Such 

Applications will be forwarded for 

Internal Review in descending order of 

External Review score. The forwarded 

Applications will be drawn from the 

financing entity approach and 

affordable housing developer/manager 

approach groups in proportion to each 

group’s representation in the overall 

Application pool. This approach will 

ensure that the percentage of Applicants 

with a financing entity approach and 

affordable housing developer approach 

forwarded to Internal Review reflects 

the proportion of these entity strategies 

within the overall Application pool, 

with no more than 5% variance. 

These forwarded Applications will 

constitute the highly qualified pool. 

During the Internal Review, CDFI Fund 

staff will prioritize the Applications in 

the highly qualified pool for an Award 

based on a combination of the following 

criteria: (i) Final External Review score; 

(ii) alignment with CMF statutory and 

policy priorities; (iii) the overall quality 

of the Applicant’s strategy; and (iv) the 

Applicant’s organizational capacity and 

financial health. The CDFI Fund will 

not attempt to ensure any specific 

balance of Applicants with a financing 

entity approach and Applicants with an 

affordable housing developer approach 

in the final Award pool. 

In assessing the Applicant’s 

organizational capacity, CDFI Fund staff 

will consider the following factors, 

including, but not limited to the 

Applicant’s overall organizational and 

financial capacity, including (a) its 

financial strength and ability, and its 

resources to weather changing 

conditions and risks; (b) its 

organizational strength as demonstrated 

by good management practices, risk 

management, and internal controls; (c) 

key personnel with relevant experience 

and capacity; and (d) relevant 

experience and capacity demonstrating 

ability to meet federal award 

management standards (including 

performance with prior CDFI Fund 

awards). The CDFI Fund will also 

review OMB-designated repositories of 

government-wide eligibility 

qualification and financial integrity 

information, as part of the assessment of 

organizational capacity. In the case of an 

Applicant that has received awards from 

other Federal programs, the CDFI Fund 

reserves the right to contact officials 

from the appropriate Federal agency or 

agencies to determine whether the 

Recipient is in compliance with current 

or prior award agreements as well as to 

review the results of any Federal Single 

Audit, and to take such information into 

consideration before making a CMF 

Award. 

In assessing the Application’s 

alignment with CMF statutory and 

policy priorities, CDFI Fund staff will 

consider the following factors, 

including, but not limited to: (a) The 

likelihood of the Applicant to reach a 

minimum overall leverage multiplier of 

10 times the Award amount or more; (b) 

the amount of private capital it will 

leverage relative to the CMF Award; (c) 

if rental housing is proposed, the 

Applicant’s approach, track record and 

ability to finance/support a significant 

portion (up to 45%) of its rental housing 

for Very Low-Income Families; (d) if 

rental housing is proposed, the 

Applicant’s approach, track record and 

ability to finance/support a significant 

portion of rental housing located in 

Areas of Economic Distress (AED) and/ 

or High Opportunity Areas (HOA) as a 

percentage of its CMF rental portfolio; 

(e) if Homeownership is proposed, the 

Applicant’s approach, track record and 

ability to successfully finance/support 

up to 100% of its Homeownership units 

for Low-Income Families (80% AMI or 


jbell on DSKJLSW7X2PROD with NOTICES
50784 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

below) and/or in Areas of Economic 

Distress as a percentage of its CMF 

Homeownership portfolio; and f) the 

number of Affordable Housing units 

expected to be generated as a result of 

the Award. 

In assessing the quality of the 

Applicant’s strategy, the CDFI Fund 

staff will consider the following factors, 

including, but not limited to: (a) The 

effectiveness and cohesiveness of the 

Applicant’s strategy; (b) how well the 

proposed financing activities will help 

close the financing gaps in their market, 

including more favorable rates and 

terms than are currently available in its 

Service Area; (c) the Applicant’s ability 

to execute its strategy and support its 

projections; (d) how adaptable the 

Applicant’s strategy is to changing 

market conditions; (e) the alignment 

between the proposed activities and 

strategy and the selected impacts and 

outcomes; and (f) for Applicant’s 

proposing Economic Development 

Activities (EDA), the extent the 

activities are part of a Concerted 

Strategy, whether activities will benefit 

affordable housing residents, and the 

track record and capacity of the 

Applicant to carry out EDA. 

In addition to the criteria outlined 

above, the Applicant’s ability to deploy 

the CMF Award in a timely manner will 

be a key determinant in funding 

recommendation. Deployment 

considerations may include the 

Applicant’s track record of activities 

compared with projections, the 

Applicant’s progress in committing and/ 

or deploying past CMF Awards, and 

whether the Applicant received a FY 

2021 CDFI/NACA Program award for a 

similar business strategy as the 

proposed use of the CMF Award. The 

CDFI Fund may also consider the 

number of geographies served when 

determining funding recommendations. 

3. Selection: Once Applications have 

been internally evaluated and 

preliminary award determinations have 

been made, the Applications will be 

forwarded to a selecting official for a 

final award determination. After 

preliminary award determinations are 

made, the selecting official will review 

the list of potential Recipients to 

determine whether the Recipient pool 

meets the following statutory objectives: 

(a) The potential Recipients’ proposed 

Service Areas collectively represent 

broad geographic coverage throughout 

the United States; and 

(b) The potential Recipients’ proposed 

activities equitably represent both 

Metropolitan Areas and Rural Areas. For 

the purposes of the FY 2021 CMF 

Round, the term Rural Areas is defined 

per 12 CFR 1282.1 (Enterprise Duty To 

Serve Final Rule) as (i) A census tract 

outside of a Metropolitan Statistical 

Area as designated by the Office of 

Management and Budget; or (ii) A 

census tract in a Metropolitan Statistical 

Area as designated by the Office of 

Management and Budget that is outside 

of the Metropolitan Statistical Area’s 

Urbanized Areas, as designated by the 

U.S. Department of Agriculture’s 

(USDA) Rural-Urban Commuting Area 

(RUCA) Code #1, and outside of tracts 

with a housing density of over 64 

housing units per square mile for 

USDA’s RUCA Code #2. 

As Rural Areas data for the Enterprise 

Duty to Serve Rule is not available for 

American Samoa, Guam, the Northern 

Mariana Islands, and the U.S. Virgin 

Islands, all census tracts in these 

territories will be deemed as Rural 

census tracts for Awards issued under 

this NOFA. The CDFI Fund will publish 

a dataset indicating which census tracts 

are designated as Rural Areas for the FY 

2021 Round on its website. 

In the event the preliminary Recipient 

pool does not reflect the geographic 

coverage or representation of 

Metropolitan and Rural Areas present in 

the overall Applicant pool, the CDFI 

Fund reserves the right to modify CMF 

Award amounts and/or the CMF 

Recipient pool if deemed necessary to 

achieve either of these statutory 

objectives. For the purposes of 

conducting this analysis, the CDFI Fund 

will classify Applications as addressing 

Rural Areas if they propose to use 20% 

or more of their award in Rural Areas, 

and as addressing Metropolitan Areas if 

they propose to use less than 20% of 

their Award in Rural Areas. 

In order to evaluate the geographic 

coverage of the potential CMF Recipient 

pool, Applicants will be asked to 

designate one of the following two 

Service Area types in their 

Applications: Statewide or Multi-State. 

These Service Area types are further 

defined in the Application. Applicants 

planning to serve communities below 

the state level (cities and municipalities, 

counties, regions) and within one state 

should designate their Service Area as 

Statewide. 

Similarly, an Applicant that is 

planning to serve communities below 

the state level, but in more than one 

state, should designate their Service 

Area as Multi-State. The smallest 

Service Area an Applicant can request 

is one state or U.S. territory; the largest 

Service Area an Applicant can propose 

is a 15 state Multi-State Service Area. 

Applicants should indicate in the 

narrative portions of their Application if 

they plan to concentrate their CMF 

activities in a subset (e.g., a county or 

a Metropolitan Area) of their broader 

Service Area. If necessary to achieve 

proportional activity in Rural Areas 

and/or broader geographic coverage, the 

CDFI Fund may award Applications not 

in the preliminary Recipient pool, 

including Applications outside of the 

highly qualified pool, in the order of 

their Internal Review scoring ranking. 

During the selection process, the CDFI 

Fund also reserves the right to modify 

or place restrictions on the Service Area 

requested in any Application in order to 

further these statutory objectives. 

In cases where the selecting official’s 

award determination varies significantly 

from the initial CMF Award amount 

recommended by the CDFI Fund staff 

review, the CMF Award 

recommendation will be forwarded to a 

reviewing official for final 

determination. The CDFI Fund, in its 

sole discretion, reserves the right to 

reject an Application and/or adjust CMF 

Award amounts as appropriate, based 

on information obtained during the 

review process. 

4. Insured Depository Institution 

Applicants: In the case of Applicants 

that are Insured Depository Institutions 

or Insured Credit Unions, the CDFI 

Fund will consider safety and 

soundness information from the 

Appropriate Federal Banking Agency or 

Appropriate State Agency, as 

applicable. If the Applicant is a CDFI 

Depository Institution Holding 

Company, the CDFI Fund will consider 

information provided by the 

Appropriate Federal Banking Agency 

and Appropriate State Agency about 

both the CDFI Depository Institution 

Holding Company and the CDFI Insured 

Depository Institution that will expend 

and carry out the Award. If the 

Appropriate Federal Banking Agency or 

Appropriate State Agency identifies 

safety and soundness concerns, the 

CDFI Fund will assess whether the 

concerns warrant that the Applicant is 

incapable of undertaking the activities 

for which funding has been requested. 

5. Right of Rejection: The CDFI Fund 

reserves the right to reject an 

Application if information (including 

administrative errors) comes to the 

attention of the CDFI Fund that 

adversely affects an Applicant’s 

eligibility for an Award, adversely 

affects the CDFI Fund’s evaluation or 

scoring of an Application, or indicates 

fraud or mismanagement on the 

Applicant’s part, including 

mismanagement of another Federal 

award. If the CDFI Fund determines that 

any portion of the Application is 

incorrect in any material respect, the 

CDFI Fund reserves the right, in its sole 

discretion, to reject the Application. The 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50785 

CDFI Fund reserves the right to change 

its eligibility and evaluation criteria and 

procedures, if the CDFI Fund deems it 

appropriate. If said changes materially 

affect the CDFI Fund’s Award decisions, 

the CDFI Fund will provide information 

regarding the changes through the CDFI 

Fund’s website. There is no right to 

appeal the CDFI Fund’s Award 

decisions. The CDFI Fund’s Award 

decisions are final. 

6. Anticipated Award Announcement: 

The CDFI Fund anticipates making CMF 

Award announcements in early 2022. 

VI. Federal Award Administration 

Information 

A. Award Notification: Each 

successful Applicant will receive 

notification from the CDFI Fund stating 

that its Application has been approved 

for an Award. Each Applicant not 

selected for an Award will receive 

notification and be provided a 

debriefing document in its AMIS 

account. 

B. Administrative and Policy 

Requirements Prior to Entering into an 

Assistance Agreement: The CDFI Fund 

may, in its discretion and without 

advance notice to the Recipient, 

terminate the Award or take other 

actions as it deems appropriate if, prior 

to entering into an Assistance 

Agreement, information (including an 

administrative error) comes to the CDFI 

Fund’s attention that adversely affects 

the following: The Recipient’s eligibility 

for an Award; the CDFI Fund’s 

evaluation of the Application; the 

Recipient’s compliance with any 

requirement listed in the Uniform 

Requirements; or indications of fraud or 

mismanagement on the Recipient’s part, 

including mismanagement of another 

Federal award. 

If the Recipient’s certification status 

as a CDFI changes prior to entering into 

an Assistance Agreement, the CDFI 

Fund reserves the right, in its sole 

discretion, to re-evaluate the CMF 

Award, or modify the Assistance 

Agreement based on the Recipient’s 

non-CDFI status. 

By receiving notification of a CMF 

Award, the Recipient agrees that, if the 

CDFI Fund becomes aware of any 

information (including an 

administrative error) prior to the 

Effective Date of the Assistance 

Agreement that either adversely affects 

the Recipient’s eligibility for an CMF 

Award, adversely affects the CDFI 

Fund’s evaluation of the Recipient’s 

Application, or indicates fraud or 

mismanagement on the part of the 

Recipient, the CDFI Fund may, in its 

discretion and without advance notice 

to the Recipient, rescind the notice of 

award or take 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 an 

Authorized Representative of the 

Recipient, and/or provide the CDFI 

Fund with any other 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 for any criteria described in 

Table 7: 

TABLE 7—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT

Requirement Criteria 

Failure to meet reporting requirements.• If an Applicant received a prior 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 CMF 

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 CMF 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. If said 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 CMF Award made under this NOFA. 

Failure to maintain CDFI 

Certification (if applicable) 

or eligible Nonprofit Organization status (if applicable).

• A Recipient must be a Certified CDFI or an eligible Nonprofit Organization, as each is defined in the CMF Interim Rule and this NOFA, prior to entering into an Assistance Agreement. 

• If, at any time prior to entering into an Assistance Agreement under this NOFA, an Applicant that is a Certified 

CDFI has submitted reports (or failed to submit an annual certification report as instructed by the CDFI Fund) 

to the CDFI Fund that demonstrate noncompliance with the requirements for certification, but the CDFI Fund 

has yet to make a final determination regarding whether or not the entity is Certified, 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 CMF Award, pending full resolution, in the sole determination of the CDFI Fund, of the noncompliance. 

• If the Applicant is unable to meet this requirement, in the sole determination of the CDFI Fund, the CDFI Fund 

reserves the right, in its sole discretion, to terminate and rescind the notice of award and the CMF Award made 

under this NOFA. 

Pending resolution of noncompliance.• The CDFI Fund will delay entering into an Assistance Agreement with a Recipient that has pending noncompliance issues with any of its previously executed CDFI Fund award(s), allocation(s), bond loan agreement(s), or 

agreement(s) to guarantee. 

• If said prior Recipient or allocatee is unable to satisfactorily resolve the compliance issues, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the notice of award and the CMF Award made 

under this NOFA. 


jbell on DSKJLSW7X2PROD with NOTICES
50786 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

TABLE 7—REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT—Continued 

Requirement Criteria 

Default or Noncompliance 

status.

• If, at any time prior to entering into an Assistance Agreement, the CDFI Fund determines that an Applicant (or 

an Affiliate of the Applicant) that is a prior CDFI Fund Recipient or allocatee under any CDFI Fund program is 

noncompliant or found in default with any previously executed CDFI Fund award or Assistance agreement(s) 

and the CDFI Fund has provided written notification that the Applicant 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, in its 

sole discretion, delay entering into an Assistance Agreement with Applicant until the Recipient has cured the 

noncompliance by taking actions the CDFI Fund has specified in writing within such specified timeframe. If the 

Recipient is unable to cure the noncompliance within the specified timeframe, the CDFI Fund may modify or rescind all or a portion of the CMF Award made under this NOFA. 

Compliance with Federal civil 

rights requirements.

• The CDFI Fund will terminate and rescind the Assistance Agreement and the CMF Award made under this 

NOFA if, prior to entering into an Assistance Agreement under this NOFA, the Recipient receives a final determination, made within the last 3 years of the publication date of this NOFA, in any proceeding instituted against 

the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the 

CMF Award Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 

U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 

1975 (42 U.S.C. 6101–6107); Title VIII of the Civil Rights Act of 1968, as amended (42 U.S.C. 3601 et seq.); 

Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, and Title IX 

of the Education Amendments of 1972. 

Debarment/Do Not Pay ........ • The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient (or Affiliate of Recipient) is identified as being delinquent on any Federal debt in the Do Not Pay database. 

• The Do Not Pay Business Center was developed to support Federal agencies in their efforts to reduce the 

number of improper payments made through programs funded by the Federal government. The Do Not Pay 

Business Center provides delinquency information to the CDFI Fund to assist with the debarment check. 

Safety and soundness ......... • If it is determined that the Recipient is or will be incapable of meeting its CMF Award obligations, the CDFI 

Fund will deem the Recipient to be ineligible or require it to improve safety and soundness conditions prior to 

entering into an Assistance Agreement. 

C. Assistance Agreement: Each 

Applicant that is selected to receive an 

award under this NOFA must enter into 

an Assistance Agreement with the CDFI 

Fund in order to become a Recipient 

and receive Payment. Each CMF Award 

under this NOFA generally will have a 

period of performance that begins with 

the announcement date of the Award 

and continues until the end of the 

period of affordability, as set forth at 12 

CFR 1807.401(d) and 12 CFR 1807.402, 

and as further set forth in the Assistance 

Agreement. 

1. The Assistance Agreement will set 

forth certain required terms and 

conditions of the CMF Award, which 

will include, but not be limited to: 

(a) The amount of the award; 

(b) The approved uses of the award; 

(c) The approved Service Area in 

which the award may be used. 

Applicants selected for a CMF Award 

will be allowed to use up to 15% of the 

award amount outside of their approved 

Service Area at their discretion. 

Moreover, they will be able to reinvest 

Program Income from the CMF Award 

anywhere in the United States, 

including the U.S. territories. 

(d) Performance goals and measures; 

(e) Reinvestment requirements for 

Program Income; and 

(f) Reporting requirements for all 

Recipients. 

2. Prior to executing the Assistance 

Agreement, the CDFI Fund may, in its 

discretion, allow Recipients to request 

changes to the Service Area of the 

Award and certain performance goals 

and measures. The CDFI Fund, in its 

sole determination, may approve or 

reject these requested changes or 

propose other modifications, including 

a reduction in the Award amount. The 

CDFI Fund will only approve 

performance goals and measures or 

Service Area changes if it determines 

that such requested changes do not 

undermine the competitive process 

upon which the CMF Award 

determination was made. The CDFI 

Fund may also, in its discretion, provide 

Recipients the opportunity to add states 

to their Service Area in order to serve 

states not already covered in the Award 

pool and to further HERA’s goal that the 

CMF serve geographically diverse areas 

of every state. The CDFI Fund may also, 

in its discretion, provide Recipients the 

opportunity to add states to its approved 

Service Area in order to serve 

geographies for which: (i) The President 

issued a ‘‘major disaster declaration,’’ 

and (ii) the major disaster declaration 

makes such geographies eligible for both 

‘‘individual and public assistance.’’ The 

major disaster declaration must be made 

after the publication date of this NOFA 

and prior to the execution of the 

Recipient’s Assistance Agreement. In 

these cases, the CDFI Fund may allow 

a Recipient to exceed the maximum 15 

state Service Area, if applicable. Any 

modifications agreed upon prior to the 

execution of the Assistance Agreement 

will become a condition of the Award. 

3. The Assistance Agreement shall 

provide that, prior to any determination 

by the CDFI Fund that a Recipient has 

failed to comply substantially with the 

Act, the CMF Interim Rule, or the 

environmental quality regulations, the 

CDFI Fund shall provide the Recipient 

with reasonable notice and opportunity 

to be heard. If the Recipient fails to 

comply substantially with the 

Assistance Agreement, the CDFI Fund 

may: 

(a) Require changes in the 

performance goals set forth in the 

Assistance Agreement; 

(b) Reduce or terminate the CMF 

Award; or 

(c) Require repayment of any CMF 

Award that has been distributed to the 

Recipient. 

4. The Assistance Agreement shall 

also provide that, if the CDFI Fund 

determines noncompliance with the 

terms and conditions of the Assistance 

Agreement on the part of the Recipient, 

the CDFI Fund may: 

(a) Bar the Recipient from reapplying 

for any assistance from the CDFI Fund; 

or 

(b) Take such other actions as the 

CDFI Fund deems appropriate or as set 

forth in the Assistance Agreement. 

5. In addition to entering into an 

Assistance Agreement, each Applicant 

selected to receive a CMF Award must 

furnish to the CDFI Fund a certificate of 

good standing from the jurisdiction in 

which it was formed. The CDFI Fund 

may, in its sole discretion or in lieu of 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50787 

a certificate of good standing, also 

require the Applicant to furnish an 

opinion from its legal counsel, the 

content of which may be further 

specified in the Assistance Agreement, 

and which, among other matters, opines 

that: 

(a) The Recipient is duly formed and 

in good standing in the jurisdiction in 

which it was formed and the 

jurisdiction(s) in which it transacts 

business; 

(b) The Recipient has the authority to 

enter into the Assistance Agreement and 

undertake the activities that are 

specified therein; 

(c) The Recipient has no pending or 

threatened litigation that would 

materially affect its ability to enter into 

and carry out the activities specified in 

the Assistance Agreement; 

(d) The Recipient is not in default of 

its articles of incorporation or 

formation, bylaws or operating 

agreements, other organizational or 

establishing documents, or any 

agreements with the Federal 

government; 

(e) The CMF affordability restrictions 

that are to be imposed by deed 

restrictions, covenants running with the 

land, or other CDFI Fund approved 

mechanisms that are recordable and 

enforceable under the laws of the State 

and locality where the Recipient will 

undertake its CMF activities; 

(f) If applicable, the Recipient is 

exempt from Federal Income taxation 

pursuant to the Internal Revenue Code 

of 1986; and 

(g) If applicable, the Recipient is 

designated as a nonprofit or not for 

profit entity under the laws of the 

organization’s State of formation. 

6. Closing and Payment of the Award: 

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 a Payment 

of the CMF Award is made. Recipients 

of CMF FY 2021 Awards will have the 

option to choose Payment of the Award 

in a single, lump sum payment or in two 

payment tranches, each no more than 

one year apart, and as set forth in the 

Assistance Agreement. If the Applicant 

is electing to receive Payment in two 

tranches, the first Payment amount will 

be based on the Applicant’s estimated 

amount of the Award that will be 

Committed in the first year, though the 

first Payment amount can be modified at 

the Recipients request prior to closing 

the Assistance Agreement. The date of 

Payment will affect the required date of 

Commitment of the Award, two years 

subsequent to each Payment, but will 

not affect or change any other 

performance goal or requirement set 

forth in the Assistance Agreement, 

including the requirement that all 

Projects must achieve Project 

Completion within five years of the 

effective date of the Assistance 

Agreement. 

Following the initial closing of the 

Assistance Agreement, 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. 

D. Paperwork Reduction Act: Under 

the Paperwork Reduction Act (44 U.S.C. 

chapter 35), an agency may not conduct 

or sponsor a collection of information, 

and an individual is not required to 

respond to a collection of information, 

unless it displays a valid OMB control 

number. If applicable, the CDFI Fund 

may inform Applicants that they do not 

need to provide certain Application 

information otherwise required. 

Pursuant to the Paperwork Reduction 

Act, the Capital Magnet Fund 

Application has been assigned the 

following control number: 1559–0036. 

E. Reporting: The CDFI Fund will 

require each Recipient that receives a 

CMF Award through this NOFA to 

account for and report to the CDFI Fund 

on the use of the CMF Award. This will 

require Recipients to establish 

administrative controls, subject to the 

Uniform Administrative Requirements 

and other applicable OMB guidance. 

The CDFI Fund will collect information 

from each such Recipient on its use of 

the CMF Award annually, following 

Payment and more often if deemed 

appropriate by the CDFI Fund in its sole 

discretion. The CDFI Fund will provide 

guidance to Recipients outlining the 

format and content of the information 

required to be provided to describe how 

the funds were used. 

The CDFI Fund may collect 

information from each Recipient 

including, but not limited to, an annual 

report with the components listed in 

Table 8: 

TABLE 8—REPORTING REQUIREMENTS 5

Criteria Description 

Single Audit (if applicable) ... A non-profit Recipient must complete an annual Single Audit pursuant to the Uniform Requirements (2 CFR 

200.501) if it expends $750,000 or more in Federal awards in its fiscal year, or such other dollar threshold established by OMB pursuant to 2 CFR 200.501. If a Single Audit is required, it must be submitted electronically 

to the Federal Audit Clearinghouse (FAC) (see 2 CFR Subpart F-Audit Requirements in the Uniform Requirements) and optionally through AMIS. 

Financial Statement Audit .... For-profit and nonprofit Recipients must submit a Financial Statement Audit (FSA) report in AMIS, along with the 

Recipient’s statement of financial condition audited or reviewed by an independent certified public accountant. 

Performance Report ............. The Recipient must submit a performance report not less than annually, which is a progress report on the Recipient’s use of the CMF Award towards meeting its performance goals, Affordable Housing outcomes, and the 

Recipient’s overall performance. The CMF Performance Report covers the Announcement Date through the Investment Period for the CMF Award and the ten-year Affordability Period for each Project. The Investment Period shall mean the period beginning with the Effective Date of the Assistance Agreement and ending not earlier than the fifth year anniversary of the Effective Date, or as otherwise established in the Assistance Agreement. The Affordability Period shall mean, for each Project, the period beginning on the date when the Project 

is placed into service and consisting of the full ten consecutive years thereafter, or as otherwise established in 

the Assistance Agreement. 

If the Recipient fails to meet a performance goal or reporting requirements, it must submit an explanation of noncompliance via AMIS. 


jbell on DSKJLSW7X2PROD with NOTICES
50788 Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 

TABLE 8—REPORTING REQUIREMENTS 5—Continued 

Criteria Description 

Environmental Review ......... The Recipient shall submit the Environmental Review Notification Report each time the Recipient identifies a new 

proposed CMF project for which (i) a categorical exclusion does not apply and/or (ii) the Recipient determines 

that the proposed project does involve actions that normally require an Environmental Impact Statement, as described in 12 CFR Part 1815. The Environmental Review Notification Report must be submitted to the CDFI 

Fund no later than one hundred eighty (180) days prior to the date that the funds are Committed to a Project. 

5Personally 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 homes and other 

properties in AMIS, Applicants should not include the following PII for the individuals who received the financial products or 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 (if applicable). 

Each Recipient is responsible for the 

timely and complete submission of the 

annual reporting documents. The CDFI 

Fund will use such information to 

monitor each Recipient’s compliance 

with the requirements set forth in the 

Assistance Agreement and to assess the 

impact of the CMF. The CDFI Fund 

reserves the right, in its sole discretion, 

to modify these reporting requirements 

if it determines it to be appropriate and 

necessary; however, such reporting 

requirements will be modified only after 

notice to Recipients. 

F. 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 CMF Award. These 

systems must be sufficient to permit the 

preparation of reports required by 

general and program specific terms and 

conditions, including the tracing of 

funds to a level of expenditures 

adequate to establish that such funds 

have been used in accordance with the 

Federal statutes, regulations, and the 

terms and conditions of the CMF 

Award. 

The cost principles used by 

Recipients must be consistent with 

Federal cost principles, must support 

the accumulation of costs as required by 

the principles, and must provide for 

adequate documentation to support 

costs charged to the CMF Award. In 

addition, the CDFI Fund will require 

Recipients to: Maintain effective 

internal controls; comply with 

applicable statutes and regulations, the 

Assistance Agreement, and related 

guidance; evaluate and monitor 

compliance; take action when not in 

compliance; and safeguard personally 

identifiable information. 

VII. Agency Contacts 

A. Availability: The CDFI Fund will 

respond to questions and provide 

support concerning this NOFA and the 

Application between the hours of 9:00 

a.m. and 5:00 p.m. ET, starting on the 

date of the publication of this NOFA 

until the close of business on the third 

business day preceding the Application 

deadline. The CDFI Fund will not 

respond to questions or provide support 

concerning the Application that are 

received after 5:00 p.m. ET on said date, 

until after the Application deadline. 

CDFI Fund IT support will be available 

until 5:00 p.m. ET on date of the 

Application deadline. Applications and 

other information regarding the CDFI 

Fund and its programs may be obtained 

from the CDFI Fund’s website at http:// 

www.cdfifund.gov/cmf. The CDFI Fund 

will post on its website responses to 

questions of general applicability 

regarding the CMF. 

B. The CDFI Fund’s Contact Information 

is Listed in Table 9 

TABLE 9—CONTACT INFORMATION

Type of question Preferred method 

Telephone 

number 

(not toll free) 

Email addresses 

CMF ......................................................... Submit a Service Request in AMIS ........ 202–653–0421 cmf@cdfi.treas.gov. 

CDFI Certification .................................... Submit a Service Request in AMIS ........ 202–653–0423 ccme@cdfi.treas.gov. 

Compliance Monitoring and Evaluation ... Submit a Service Request in AMIS ........ 202–653–0423 ccme@cdfi.treas.gov. 

Information Technology Support ............. Submit a Service Request in AMIS ........ 202–653–0422 AMIS@cdfi.treas.gov. 

The preferred method of contact is to 

submit a Service Request within AMIS. 

For a CMF Application question, select 

‘‘Capital Magnet Fund’’ for the program. 

For a CDFI Certification question, select 

‘‘Certification.’’ For a Compliance 

question, select ‘‘Compliance & 

Reporting.’’ For Information 

Technology, select ‘‘Technical Issues.’’ 

Failure to select the appropriate 

program for the Service Request could 

result in delays in responding to your 

question. 

C. Communication with the CDFI 

Fund: The CDFI Fund will use AMIS to 

communicate with Applicants and 

Recipients, using the contact 

information maintained in their 

respective AMIS accounts. Therefore, 

the Recipient and any Subsidiaries, 

signatories, and Affiliates must maintain 

accurate contact information (including 

contact persons and Authorized 

Representatives, email addresses, fax 

numbers, phone numbers, and office 

addresses) in its AMIS account(s). For 

more information about AMIS please 

see the Help documents posted at 

https://amis.cdfifund.gov/s/Training. 

D. Civil Rights and Diversity: Any 

person who is eligible to receive 

benefits or services from the CDFI Fund 

or Recipients under any of its programs 

is entitled to those benefits or services 

without being subject to prohibited 

discrimination. The Department of the 

Treasury’s Office of Civil Rights and 

Diversity enforces various Federal 

statutes and regulations that prohibit 

discrimination in financially assisted 

and conducted programs and activities 

of the CDFI Fund. If a person believes 

that s/he has been subjected to 

discrimination and/or reprisal because 

of membership in a protected group, s/ 

he may file a complaint with: Associate 

Chief Human Capital Officer, Office of 

Civil Rights, and Diversity, 1500 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Notices 50789 

1 86 FR 38182 (July 19, 2021). 

Pennsylvania Ave. NW, Washington, DC 

20220 or (202) 622–1160 (not a toll-free 

number). 

E. Statutory and National Policy 

Requirements: The CDFI Fund will 

manage and administer the Federal 

award in a manner so as to ensure that 

Federal funding is expended and 

associated programs are implemented in 

full accordance with the U.S. 

Constitution, Federal Law, statutory, 

and public policy requirements: 

Including, but not limited to, those 

protecting free speech, religious liberty, 

public welfare, the environment, and 

prohibiting discrimination. 

VIII. Other Information 

None. 

Authority: Public Law 110–289. 12 

U.S.C. 4701, 12 CFR part 1805, 12 CFR 

part 1807, 12 CFR part 1815, 12 U.S.C. 

4502. 

Jodie L. Harris, 

Director, Community Development Financial 

Institutions Fund. 

[FR Doc. 2021–19598 Filed 9–9–21; 8:45 am] 

BILLING CODE 4810–70–P 

FEDERAL RESERVE SYSTEM 

[Docket No. OP–1752] 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

RIN 3064–ZA26 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

[Docket ID OCC–2021–0011] 

Proposed Interagency Guidance on 

Third-Party Relationships: Risk 

Management 

AGENCY: The Board of Governors of the 

Federal Reserve System (Board), the 

Federal Deposit Insurance Corporation 

(FDIC), and the Office of the 

Comptroller of the Currency (OCC). 

ACTION: Proposed interagency guidance 

and request for comment; extension of 

comment period. 

SUMMARY: On July 19, 2021, the Board, 

FDIC, and OCC (together, the agencies) 

published in the Federal Register an 

invitation to comment on proposed 

guidance on managing risks associated 

with third-party relationships. The 

notice provided for a comment period 

ending on September 17, 2021. In 

response to commenters’ requests for 

additional time to analyze and respond 

to the proposal, the agencies are 

extending the comment period for 30 

days until October 18, 2021. 

DATES: For the notice of proposed 

guidance published on July 19, 2021 (86 

FR 38182), comments must be received 

by October 18, 2021. 

ADDRESSES: You may submit comments 

by any of the methods identified in the 

proposal. 

FOR FURTHER INFORMATION CONTACT:

Board: Nida Davis, Associate Director, 

(202) 872–4981; Timothy Geishecker, 

Lead Financial Institution and Policy 

Analyst, (202) 475–6353, Division of 

Supervision and Regulation; Jeremy 

Hochberg, Managing Counsel, (202) 

452–6496; Matthew Dukes, Counsel, 

(202) 973–5096, Division of Consumer 

and Community Affairs; Claudia Von 

Pervieux, Senior Counsel, (202) 452– 

2552; Evans Muzere, Counsel, (202) 

452–2621; Alyssa O’Connor, Senior 

Attorney, (202) 452–3886, Legal 

Division, Board of Governors of the 

Federal Reserve System, 20th and C 

Streets NW, Washington, DC 20551. 

FDIC: Thomas F. Lyons, Corporate 

Expert in Examination Policy, TLyons@

fdic.gov, (202) 898–6850); Judy E. Gross, 

Senior Policy Analyst, JuGross@

fdic.gov, (202) 898–7047, Policy & 

Program Development, Division of Risk 

Management Supervision; Paul Robin, 

Chief, probin@fdic.gov, (202) 898–6818, 

Supervisory Policy Section, Division of 

Depositor and Consumer Protection; 

Marguerite Sagatelian, Senior Special 

Counsel, msagatelian@fdic.gov, (202) 

898–6690, Supervision, Legislation & 

Enforcement Branch, Legal Division, 

Federal Deposit Insurance Corporation; 

550 17th Street NW, Washington, DC 

20429. 

OCC: Kevin Greenfield, Deputy 

Comptroller for Operational Risk 

Division, Lazaro Barreiro, Director for 

Governance and Operational Risk 

Policy, Emily Doran, Governance and 

Operational Risk Policy Analyst, Stuart 

Hoffman, Governance and Operational 

Risk Policy Analyst, Operational Risk 

Policy Division, (202) 649–6550; or Tad 

Thompson, Counsel or Eden Gray, 

Assistant Director, Chief Counsel’s 

Office, (202) 649–5490, Office of the 

Comptroller of the Currency, 400 7th 

Street SW, Washington, DC 20219. 

SUPPLEMENTARY INFORMATION: On July 

19, 2021, the agencies published in the 

Federal Register an invitation to 

comment on proposed guidance on 

managing risks associated with thirdparty relationships.1 The proposed 

guidance would offer a framework based 

on sound risk management principles 

for banking organizations to consider in 

developing risk management practices 

for third-party relationships that takes 

into account the level of risk, 

complexity, and size of the banking 

organization and the nature of the thirdparty relationship. The proposed 

guidance would replace each agency’s 

existing guidance on this topic and 

would be directed to all banking 

organizations supervised by the 

agencies. The notice solicited 

respondents’ views on all aspects of the 

proposed guidance, including to what 

extent the guidance provides sufficient 

utility, relevance, comprehensiveness, 

and clarity for banking organizations 

with different risk profiles and 

organizational structures. 

The proposed guidance provided for a 

comment period ending on September 

17, 2021. Since the publication of the 

proposal, the agencies have received 

comments requesting a 30-day extension 

of the comment period. An extension of 

the comment period will provide 

additional opportunity for interested 

parties to analyze the proposed 

guidance and prepare and submit 

comments. Therefore, the agencies are 

extending the end of the comment 

period for the proposal from September 

17, 2021 to October 18, 2021. 

By order of the Board of Governors of the 

Federal Reserve System, acting through the 

Secretary of the Board under delegated 

authority. 

Ann E. Misback, 

Secretary to the Board. 

Michael J. Hsu, 

Acting Comptroller of the Currency. 

Deposit Insurance Corporation. 

Dated at Washington, DC, on September 3, 

2021. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2021–19545 Filed 9–9–21; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Open Meeting of the Taxpayer 

Advocacy Panel’s Tax Forms and 

Publications Project Committee 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of meeting. 

SUMMARY: An open meeting of the 

Taxpayer Advocacy Panel’s Tax Forms 

and Publications Project Committee will 

be conducted. The Taxpayer Advocacy 

Panel is soliciting public comments, 

ideas, and suggestions on improving 


jbell on DSKJLSW7X2PROD with NOTICES