[Federal Register Volume 87, Number 121 (Friday, June 24, 2022)]
[Notices]
[Pages 37912-37927]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-13452]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Funding Opportunity: Community Development Financial Institutions 
Equitable Recovery Program (CDFI ERP)

    Funding Opportunity Title: Notice of Funds Availability (NOFA) 
inviting Applications for grants under the CDFI Equitable Recovery 
Program (CDFI ERP).
    Announcement Type: Announcement of funding opportunity.
    Funding Opportunity Number: CDFI-2022-ERP.
    Catalog of Federal Domestic Assistance (CFCA) Number: 21.033.
    Dates:

                               Table 1--Critical Deadlines for CDFI ERP Applicants
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           Description                       Deadline             Time (eastern time, ET)     Submission method
----------------------------------------------------------------------------------------------------------------
Submit OMB Standard Form-424       July 26, 2022..............  11:59 p.m. ET..............  Electronically via
 Mandatory (Application for                                                                   Grants.gov.
 Federal Assistance) (SF-424).
Enter Employer Identification      July 26, 2022..............  11:59 p.m. ET..............  Electronically via
 Number (EIN) and Unique Entity                                                               Awards Management
 Identifier (UEI) numbers in AMIS.                                                            Information System
                                                                                              (AMIS).
Last day to contact CDFI Fund      August 19, 2022............  5:00 p.m. ET...............  Service Request \1\
 with questions about the CDFI                                                                via AMIS or
 ERP.                                                                                         <a href="/cdn-cgi/l/email-protection#4f2a3d3f0f2c2b2926613b3d2a2e3c61282039"><span class="__cf_email__" data-cfemail="5d382f2d1d3e393b3473292f383c2e733a322b">[email protected]</span></a>
                                                                                              or 202-653-0421.
Last day to contact CDFI Fund      August 19, 2022............  5:00 p.m. ET...............  Compliance and
 with questions about Compliance                                                              Reporting AMIS
 or CDFI Certification.                                                                       Service Request or
                                                                                              202-653-0423.
Last day to contact AMIS-IT Help   August 23, 2022............  5:00 p.m. ET...............  Service Request via
 Desk (regarding AMIS technical                                                               AMIS or
 problems only).                                                                              <a href="/cdn-cgi/l/email-protection#b7f6fafee4f7d4d3d1de99c3c5d2d6c499d0d8c1"><span class="__cf_email__" data-cfemail="88c9c5c1dbc8ebeceee1a6fcfaede9fba6efe7fe">[email protected]</span></a> or 202-653-0422.
Submit complete CDFI ERP           August 23, 2022............  11:59 p.m. ET..............  Electronically via
 Application Package.                                                                         AMIS.
----------------------------------------------------------------------------------------------------------------

    Executive Summary: The Community Development Financial Institutions 
Fund (CDFI Fund) is launching the CDFI Equitable Recovery Program (CDFI 
ERP) to provide awards of up to $15 million to Certified Community 
Development Financial Institutions (CDFIs) \2\ for the following 
purposes: (1) to expand lending, grant making and investment activity 
in Low- or Moderate-Income communities and to borrowers, including 
minorities, that have significant unmet capital or financial services 
needs, and were disproportionately impacted by the COVID-19 pandemic; 
and (2) to enable CDFIs to build organizational capacity and acquire 
technology, staff, and other tools necessary to accomplish the 
activities under a CDFI ERP Award. All Awards provided through this 
NOFA are subject to funding availability.
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    \1\ Service Request means a written inquiry or notification 
submitted to the CDFI Fund via AMIS.
    \2\ Certified CDFI shall mean an entity that the CDFI Fund has 
officially notified that it meets all CDFI certification 
requirements set forth in 12 CFR part 1805.
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I. Program Description

    A. History: The CDFI Fund was established by the Riegle Community 
Development and Regulatory Improvement Act of 1994 (Pub. L. 103-325) 
(Riegle Act) to promote economic revitalization and community 
development through investment in and assistance to CDFIs. The CDFI ERP 
was authorized by Congress to provide grants to CDFIs to respond to the 
economic impact of the COVID-19 pandemic.
    B. Authorizing Statutes and Regulations: Pursuant to Sec.  523 
(Section 523) of Division N of the Consolidated Appropriations Act, 
2021 (Pub. L. 116-260), Congress authorized the CDFI ERP. The 
regulations governing the CDFI Program are found at 12 CFR parts 1805 
and 1815 (the Regulations) and are used by the CDFI Fund to govern, 
where applicable, the CDFI ERP. For a complete understanding of the 
program, the CDFI Fund encourages Applicants to review this NOFA; the 
CDFI ERP Application (the Application); all related materials and 
guidance documents found on the CDFI Fund's website (Application 
Materials); and the Uniform Administrative Requirements, Cost 
Principles, and Audit Requirements for Federal Awards (2 CFR part 
1000), which is the Department of the Treasury's codification of the 
Office of Management and Budget (OMB) government-wide framework for 
grants management at 2 CFR part 200 (the Uniform Requirements). 
Capitalized terms used but not defined in this NOFA are defined in the 
Regulations, the Application, the Application Materials, or the Uniform 
Requirements. Details regarding Application content requirements are 
available in the

[[Page 37913]]

Application and Application Materials at www.cdfifund.gov/erp.
    C. Priorities: The objectives of the CDFI ERP are: (1) to provide 
funding to CDFIs to expand lending, grant making and investment 
activities in Low- or Moderate-Income communities and to borrowers, 
including minorities, that have significant unmet capital or financial 
services needs, and were disproportionately impacted by the COVID-19 
pandemic, and (2) to enable CDFIs to build organizational capacity and 
acquire technology, staff, and other tools necessary to accomplish the 
activities under a CDFI ERP Award. The activities funded with a CDFI 
ERP Award will respond to economic impacts of the COVID-19 pandemic 
such as job loss; disruptions in health and mental healthcare; 
disruptions in childcare; increased housing instability; decreased 
availability of and increased cost of financing for affordable housing 
and home ownership; exacerbated inaccessibility to broadband internet; 
increased food insufficiency; disruptions in operations for small 
businesses, Small Farms and nonprofit organizations; and other negative 
impacts.
    To pursue these objectives, the CDFI Fund will prioritize funding 
Applications that commit to use their CDFI ERP Awards in ERP-Eligible 
Geographies. These geographies are defined in in Section II.D.2 of this 
NOFA in order to achieve the statutory objective of directing CDFI ERP 
activities to Low- or Moderate-Income communities and to borrowers, 
including minorities, that have significant unmet capital or financial 
services needs, and were disproportionately impacted by the COVID-19 
pandemic. The CDFI Fund will also prioritize funding Applications that 
commit to provide one of the following: (1) Financial Products, 
Financial Services, Development Services and/or Grants to Low- or 
Moderate-Income Minority communities; (2) Financial Products, Financial 
Services, Development Services and/or Grants to Minorities that have 
significant unmet capital or financial services needs; (3) Financial 
Products, Financial Services, Development Services and/or Grants to 
serve Persistent Poverty Counties, Native Areas and/or U.S. 
Territories; (4) Financial Products, Financial Services, Development 
Services and/or Grants to small businesses with less than $1 million in 
annual gross revenue or to Small Farms, with an emphasis on serving 
small businesses with less than $100,000 in annual revenue; or (5) 
increased lending in ERP-Eligible Geographies.
    In further pursuit of the program objectives, the CDFI ERP will 
prioritize Applicants with a track record of: (1) making loans, grants, 
or investments in Low- or Moderate-Income Minority communities that are 
also ERP-Eligible Geographies; (2) making loans, grants, or investments 
to Minorities that have significant unmet capital or financial services 
needs; (3) making loans, grants, or investments in Persistent Poverty 
Counties, Native Areas, and/or U.S. Territories; (4) making loans, 
grants, or investments to small businesses with less than $1 million in 
annual gross revenue or to Small Farms, with an emphasis on small 
businesses with less than $100,000 in annual gross revenue; (5) 
increasing lending in ERP-Eligible Geographies; (6) creating new 
Financial Products and Grants to support ERP-Eligible Geographies; and 
(7) expanding into previously unserved ERP-Eligible Geographies.
    D. Uniform Administrative Requirements, Cost Principles, and Audit 
Requirements for Federal Awards (2 CFR part 1000): The Uniform 
Requirements codify financial, administrative, procurement, and program 
management standards that federal awarding agencies must follow. When 
evaluating Applications, awarding agencies must evaluate the risks 
posed by each Applicant, and each Applicant's merits and eligibility. 
These requirements are designed to ensure that Applicants for federal 
assistance receive a fair and consistent review prior to an award 
decision. This review will assess items such as certification status, 
financial and compliance performance, business strategy and proposed 
community impacts, organizational capacity, history of performance, and 
single audit findings, among other criteria outlined in this NOFA. In 
addition, the Uniform Requirements include guidance on audit 
requirements and other award compliance requirements for Recipients.

II. Federal Award Information

    A. Funding Availability: The CDFI Fund plans to award up to $1.73 
billion in grants to CDFIs under this NOFA. The minimum Award size will 
be $500,000. The maximum Award size will be $15,000,000 or three times 
the Applicant's average on-balance sheet Financial Products closed in 
its five most recent historic fiscal years,\3\ whichever is less. The 
average Award amount will depend on the number of CDFI ERP Awards made. 
For example, if there are 400 Awards, the estimated average Award would 
be approximately $4.3 million; if there are 550 Awards, the estimated 
average Award would be approximately $3.1 million. Final award sizes 
will be based on the number and quality of the Applications received, 
along with the evaluation factors outlined in Section V of this NOFA.
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    \3\ For the purposes of this NOFA, an Applicant's most recent 
historic fiscal year is determined as follows:
    (A) Applicants with a 3/31 fiscal year end date and a completed 
FY 2022 audit will treat FY 2022 as their most recent historic 
fiscal year.
    (B) Applicants with a 3/31 fiscal year end date but without a 
completed FY 2022 audit will treat FY 2021 as their most recent 
historic fiscal year.
    (C) Applicants with a 6/30 fiscal year end date will treat FY 
2021 as their most recent historic fiscal year.
    (D) Applicants with a 9/30 fiscal year end date will treat FY 
2021 as their most recent historic fiscal year.
    (E) Applicants with a 12/31 fiscal year end date will treat FY 
2021 as their most recent historic fiscal year.
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    The CDFI Fund reserves the right, in its sole discretion, to 
provide a CDFI ERP Award in an amount less than that which the 
Applicant requests. 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. Additionally, the CDFI Fund reserves the right to 
not award the full amount of funding available if it determines an 
insufficient number of qualified Applications has been received to 
effectively award all available funding. The CDFI Fund reserves the 
right to fund, in whole or in part, some, all, or none of the 
Applications submitted in response to this NOFA.
    B. Anticipated Start Date and Period of Performance: The CDFI Fund 
anticipates the Period of Performance for the CDFI ERP to begin early 
calendar year (CY) 2023. The Period of Performance for each CDFI ERP 
Award begins with the date that the CDFI Fund announces the Recipients 
of the CDFI ERP Awards and includes a Recipient's five full consecutive 
fiscal years after the date of the CDFI ERP Award Announcement, during 
which time the Recipient must meet the Performance Goals and Measures 
(PG&Ms) set forth in the Assistance Agreement. The Budget Period \4\ 
for a CDFI ERP Award

[[Page 37914]]

is the same as the Period of Performance.
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    \4\ Budget Period means the time interval from the start date of 
a funded portion of an award to the end date of that funded portion 
during which Recipients are authorized to expend the funds awarded. 
The Budget Period for CDFI ERP Program Awards begins with the date 
of the Award announcement and includes a Recipient's five full 
consecutive fiscal years after the date of the Award announcement.
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    C. Types of Awards: The CDFI Fund will provide CDFI ERP Awards in 
the form of grants to support the eligible activities as set forth in 
this NOFA and Application.
    D. Eligible Activities:
    1. Eligible Uses of Funds. CDFI ERP Award funds may be expended for 
two types of eligible activities: (1) financial products and services 
and (2) operational support. Financial products and services may serve 
commercial real estate, small businesses, microenterprise, community 
facilities, and affordable housing, and also includes consumer 
financial products, consumer financial services, commercial financial 
products, commercial financial services, intermediary lending to non-
profits and CDFIs, and other lines of business as deemed appropriate by 
the CDFI Fund in the following six eligible financial products and 
services categories: (i) Financial Products; (ii) Financial Services; 
(iii) Development Services: (iv) Grants; (v) Loan Loss Reserves; and 
(vi) Capital Reserves. In addition, a portion of a CDFI ERP Award may 
also be used for the following seven eligible operational support 
categories: (vii) Compensation--Personal Services; (viii) 
Compensation--Fringe Benefits; (ix) Professional Service Costs; (x) 
Travel Costs; (xi) Training and Education Costs; (xii) Equipment; and 
(xiii) Supplies. There are limitations on the portion of a CDFI ERP 
Award that may be used for different eligible activities categories. 
For any award size, no more than 25% of the Award amount may be used 
for Financial Services and Development Services combined. Additionally, 
the Recipient may use up to the greater of $166,667 or 15% of the Award 
amount, up to a maximum of $400,000, for eligible activities in the 
above operational support categories (vii)-(xiii) combined.
    CDFI ERP Awards may only be used for Direct Costs associated with 
an eligible activity. Direct Costs are those incurred by the Recipient 
to carry out the eligible activities as described in section 2 CFR 
200.413 of the Uniform Requirements. The eligible activity categories 
are not authorized for Indirect Costs or an associated Indirect Cost 
Rate. Any expenses that are prohibited by the Uniform Requirements are 
unallowable and are generally found in Subpart E-Cost Principles of the 
Uniform Requirements.
    The CDFI ERP budget is the amount of the Award and must be expended 
in the 13 eligible activity categories by the end of the Budget Period. 
The CDFI Fund will not approve an amendment to extend the Period of 
Performance to allow a Recipient additional time to expend the CDFI ERP 
Award.
    For purposes of this NOFA, the 13 eligible activity categories are 
defined below:
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    \5\ Regulated Institutions include Insured Credit Unions, 
Insured Depository Institutions, State-Insured Credit Unions and 
Depository Institution Holding Companies.

             Table 2--CDFI ERP Eligible Activity Categories
------------------------------------------------------------------------
                                                          Eligible CDFI
       Eligible activity           Eligible activity       institution
                                      definition              types
------------------------------------------------------------------------
i. Financial Products.........  Award funds expended    All.
                                 as loans, Equity
                                 Investments and
                                 similar financing
                                 activities (as
                                 determined by the
                                 CDFI Fund) including
                                 the purchase of loans
                                 originated by
                                 Certified CDFIs and
                                 the provision of loan
                                 guarantees. In the
                                 case of CDFI
                                 Intermediaries,
                                 Financial Products
                                 may also include
                                 loans to CDFIs and/or
                                 Emerging CDFIs, and
                                 deposits in Insured
                                 Credit Union CDFIs,
                                 Emerging Insured
                                 Credit Union CDFIs,
                                 and/or State-Insured
                                 Credit Union CDFIs.
ii. Financial Services........  Award funds expended    Regulated
                                 for providing           Institutions
                                 checking, savings       \5\ only.
                                 accounts, check
                                 cashing, money
                                 orders, certified
                                 checks, automated
                                 teller machines,
                                 deposit taking, safe
                                 deposit box services,
                                 and other similar
                                 services.
iii. Development Services.....  Award funds expended    All.
                                 for activities
                                 undertaken by a CDFI,
                                 its Affiliate or
                                 contractor that (i)
                                 promote community
                                 development and (ii)
                                 prepare or assist
                                 current or potential
                                 borrowers or
                                 investees to use the
                                 CDFI's Financial
                                 Products or Financial
                                 Services. For
                                 example, such
                                 activities include
                                 financial or credit
                                 counseling,
                                 homeownership
                                 counseling, business
                                 planning, and
                                 management assistance.
iv. Grants....................  Award funds expended    All.
                                 in the form of Grants
                                 to mitigate the
                                 economic impact of
                                 the COVID-19
                                 pandemic. Grants are
                                 funds transferred
                                 without a repayment
                                 requirement to a
                                 person, business, or
                                 other organization
                                 that are designated
                                 for the specific
                                 purpose of mitigating
                                 the economic impacts
                                 of the COVID-19
                                 pandemic.
v. Loan Loss Reserves.........  Award funds set aside   All.
                                 in the form of cash
                                 reserves, or through
                                 accounting-based
                                 accrual reserves, to
                                 cover losses on
                                 loans, accounts, and
                                 notes receivable or
                                 for related purposes
                                 that the CDFI Fund
                                 deems appropriate.
vi. Capital Reserves..........  Award funds set aside   Regulated
                                 as reserves to          Institutions
                                 support the             \5\ only.
                                 Applicant's ability
                                 to leverage other
                                 capital, for such
                                 purposes as
                                 increasing its net
                                 assets or providing
                                 financing, or for
                                 related purposes as
                                 the CDFI Fund deems
                                 appropriate.
------------------------------------------------------------------------
As described below, CDFI ERP Award funds may also be used for
 operational support in amounts of (1) up to 33% of the Award amount for
 Awards of $500,000 and (2) up to 15% of the Award Amount or $166,667,
 whichever is greater, for Awards above $500,000, up to a maximum amount
 of $400,000..
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[[Page 37915]]

 
vii. Compensation--Personal     Award funds paid to     All.
 Services.                       cover all
                                 remuneration, paid
                                 currently or accrued,
                                 for services of
                                 Applicant's employees
                                 rendered during the
                                 Period of Performance
                                 under the CDFI ERP
                                 Award in accordance
                                 with section 200.430
                                 of the Uniform
                                 Requirements.
                                Any work performed
                                 directly, but
                                 unrelated to the
                                 purposes of the CDFI
                                 ERP Award, may not be
                                 paid as Compensation
                                 using a CDFI ERP
                                 Award. For example,
                                 the salaries for
                                 building maintenance
                                 personnel would not
                                 carry out the purpose
                                 of a CDFI ERP Award
                                 and would be deemed
                                 unallowable.
viii. Compensation--Fringe      Award funds paid to     All.
 Benefits.                       cover allowances and
                                 services provided by
                                 the Applicant to its
                                 employees as
                                 Compensation in
                                 addition to regular
                                 salaries and wages,
                                 in accordance with
                                 section 200.431 of
                                 the Uniform
                                 Requirements. Such
                                 expenditures are
                                 allowable as long as
                                 they are made under
                                 formally established
                                 and consistently
                                 applied
                                 organizational
                                 policies of the
                                 Applicant.
ix. Professional Service Costs  Award funds used to     All.
                                 pay for professional
                                 and consultant
                                 services (e.g., such
                                 as strategic and
                                 marketing plan
                                 development),
                                 rendered by persons
                                 who are members of a
                                 particular profession
                                 or possess a special
                                 skill (e.g., credit
                                 analysis, portfolio
                                 management), and who
                                 are not officers or
                                 employees of the
                                 Applicant, in
                                 accordance with
                                 section 200.459 of
                                 the Uniform
                                 Requirements. Payment
                                 for a consultant's
                                 services may not
                                 exceed the current
                                 maximum of the daily
                                 equivalent rate paid
                                 to an Executive
                                 Schedule Level IV
                                 Federal employee. The
                                 Applicant must
                                 comply, as
                                 applicable, with
                                 section 2 CFR 200.216
                                 of the Uniform
                                 Requirements, with
                                 respect to payment of
                                 Professional Service
                                 Costs.
x. Travel Costs...............  Award funds used to     All.
                                 pay costs of
                                 transportation,
                                 lodging, subsistence,
                                 and related items
                                 incurred by the
                                 Applicant's personnel
                                 who are on travel
                                 status on business
                                 related to the CDFI
                                 ERP Award, in
                                 accordance with
                                 section 200.475 of
                                 the Uniform
                                 Requirements. Travel
                                 Costs do not include
                                 costs incurred by the
                                 Applicant's
                                 consultants who are
                                 on travel status. Any
                                 payments for travel
                                 expenses incurred by
                                 the Applicant's
                                 personnel but
                                 unrelated to carrying
                                 out the purpose of
                                 the CDFI ERP Award
                                 would be deemed
                                 unallowable. As such,
                                 documentation must be
                                 maintained that
                                 justifies the travel
                                 as necessary to the
                                 CDFI ERP Award.
xi. Training and Education      Award funds used to     All.
 Costs.                          pay the cost of
                                 training and
                                 education provided by
                                 the Applicant for
                                 employees'
                                 development in
                                 accordance with
                                 section 200.473 of
                                 the Uniform
                                 Requirements. Award
                                 funds can only be
                                 used to pay for
                                 training costs
                                 incurred by the
                                 Applicant's
                                 employees. Training
                                 and Education Costs
                                 may not be incurred
                                 by the Applicant's
                                 consultants.
xii. Equipment................  Award funds used to     All.
                                 pay for tangible
                                 personal property,
                                 having a useful life
                                 of more than one year
                                 and a per-unit
                                 acquisition cost of
                                 at least $5,000, in
                                 accordance with
                                 section 200.439 of
                                 the Uniform
                                 Requirements. For
                                 example, items such
                                 as office furnishings
                                 and information
                                 technology systems
                                 are allowable as
                                 Equipment costs. The
                                 Applicant must
                                 comply, as
                                 applicable, with the
                                 Buy American Act of
                                 1933, 41 U.S.C. 8301-
                                 8303 and section 2
                                 CFR 200.216 of the
                                 Uniform Requirements,
                                 with respect to the
                                 purchase of Equipment.
xiii. Supplies................  Award funds used to     All.
                                 pay for tangible
                                 personal property
                                 with a per unit
                                 acquisition cost of
                                 less than $5,000, in
                                 accordance with
                                 section 200.1 of the
                                 Uniform Requirements.
                                 For example, a
                                 desktop computer
                                 costing $1,000 is
                                 allowable as a Supply
                                 cost. The Applicant
                                 must comply, as
                                 applicable, with the
                                 Buy American Act of
                                 1933, 41 U.S.C. 8301-
                                 8303 and section 2
                                 CFR 200.216 of the
                                 Uniform Requirements,
                                 with respect to the
                                 purchase of Supplies.
------------------------------------------------------------------------

    2. ERP-Eligible Geographies. In order to achieve the statutory 
objective of directing CDFI ERP activities to Low- or Moderate-Income 
communities and to borrowers, including minorities, that have 
significant unmet capital or financial services needs, and were 
disproportionately impacted by the COVID-19 pandemic, the CDFI Fund has 
identified ERP-Eligible Geographies, which are defined as geographies 
that meet one of the following two criteria: (a) are census tracts that 
(i) demonstrate ``severe impact'' of the COVID-19 pandemic, and (ii) 
have a median income at or below 120% of the Area Median Income, and 
(iii) are CDFI Investment Areas; or (b) are Native Areas. A census 
tract is considered to have experienced ``severe impact'' of the COVID-
19 pandemic if it meets one or more of the following criteria: (a) 
demonstrates severe mortality, based on being in the highest tercile of 
the number of deaths per 100,000 people, according to reported 
cumulative mortality for the period from April 1,

[[Page 37916]]

2020 to March 31, 2021, based on data from the Centers for Disease 
Control and Prevention and the Government of Puerto Rico; \6\ or (b) 
demonstrates severe change in unemployment, based on (i) for the 50 
States, the District of Columbia, and Puerto Rico, being in the highest 
tercile of reported change in the average unemployment rate for the 
twelve-month period from April 2020 to March 2021, compared to the same 
twelve-month period for the previous year (April 2019 to March 2020), 
based on data from Bureau of Labor Statistics, Local Area Unemployment 
Statistics,\7\ and (ii) for American Samoa, Guam, Northern Mariana 
Islands, and the U.S. Virgin Islands, being in the highest tercile of 
reported change in average county employment for the twelve-month 
period from April 2020 to March 2021, compared to county employment in 
January 2020, based on data from Argonne National Laboratory, Decision 
and Infrastructure Sciences Division, County Economic Impact Index 
(CEII) and Territorial Economic Impact Index (TEII); \8\ or (c) 
demonstrates low community resilience, based on being in the highest 
tercile of the percentage of individuals or families that have 3 or 
more resilience-related risk factors relative to the impact of 
disasters such as pandemics, based on data from the U.S. Census Bureau, 
Community Resilience Estimates (CRE) Program.\9\ Census tracts that 
were not included in the community resilience data from the CRE Program 
were deemed low community resilience if they were located within a 
Persistent Poverty County.\10\ Native Areas is defined as Alaska Native 
Village Statistical Areas, Federal American Indian Reservations, State 
American Indian Reservations, Hawaiian Home Lands, Joint Use Areas, 
Off-Reservation Trust Lands, Oklahoma Tribal Statistical Areas, State 
Designated Tribal Statistical Areas, and Tribal Designated Statistical 
Areas (TDSAs). The list of ERP-Eligible Geographies is available on the 
CDFI Fund's website, and data on ERP-Eligible Geographies is available 
through the CDFI Fund's Community Impact Mapping System (CIMS). All 
CDFI ERP eligible activities must serve ERP-Eligible Geographies, 
except 10% of an Award amount, which may be deployed outside of ERP-
Eligible Geographies to serve Low- or Moderate-Income persons and 
businesses (including non-profit organizations) disproportionately 
impacted by the COVID-19 pandemic that are included in CDFI Eligible 
Markets.\11\
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    \6\ https://data.cdc.gov/NCHS/AH-Provisional-COVID-19-Death-Counts-by-Quarter-an/dnhi-s2bf; https://covid19datos.salud.gov.pr/#defunciones.
    \7\ https://www.bls.gov/lau/data.htm.
    \8\ https://www.anl.gov/dis/county-economic-impact-index; 
https://www.anl.gov/dis/territorial-economic-impact-index.
    \9\ https://www.census.gov/programs-surveys/community-resilience-estimates.html.
    \10\ https://www.cdfifund.gov/sites/cdfi/files/documents/cdfi-ppc-feb19-2020.xls.
    \11\ Eligible Market is defined as (i) a geographic area meeting 
the requirements set forth in 12 CFR 1805.201(b)(3)(ii), or (ii) 
individuals that are Low-Income, African American, Hispanic, Native 
American, Native Hawaiians residing in Hawaii, Alaska Natives 
residing in Alaska, or Other Pacific Islanders residing in American 
Samoa, Guam or the Northern Mariana Islands.
---------------------------------------------------------------------------

III. Eligibility Information
---------------------------------------------------------------------------

    \12\ Depository Institution Holding Company or DIHC means a Bank 
Holding Company or a Savings and Loan Holding Company.
---------------------------------------------------------------------------

    A. Eligible Applicants: For purposes of this NOFA, Table 3 below 
sets forth the eligibility criteria to receive a CDFI ERP Award, 
including CDFI certification criteria and other requirements that apply 
to all CDFI ERP Applicants.

      Table 3--Eligibility Requirements for All CDFI ERP Applicants
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Applicant.........................  <bullet> Applicant 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 in the Federal Register.
                                    <bullet> Applicant has at least 30%
                                     of its average annual Financial
                                     Products closed and Grants made
                                     (both in dollar volume and number
                                     of transactions) have been in ERP-
                                     Eligible Geographies over its five
                                     most recent historic fiscal years.
                                    <bullet> Applicant has audited
                                     financial statements encompassing
                                     its two most recent historic fiscal
                                     years prior to the publication date
                                     of this NOFA.
                                    <bullet> Only the entity that will
                                     carry out the proposed Award
                                     activities may apply for an Award
                                     (other than Depository Institution
                                     Holding Companies \12\). Recipients
                                     may not create a new legal entity
                                     to carry out the proposed Award
                                     activities.
                                    <bullet> The information in the
                                     Application should only reflect the
                                     activities of the Applicant,
                                     including the presentation of
                                     financial and portfolio
                                     information. Do not include
                                     financial or portfolio information
                                     from parent companies, Affiliates,
                                     or Subsidiaries in the Application,
                                     unless it relates to the provision
                                     of Development Services.
                                    <bullet> An Applicant that applies
                                     on behalf of another organization
                                     will be rejected without further
                                     consideration, other than
                                     Depository Institution Holding
                                     Companies (see below).
                                    <bullet> As part of the Application
                                     review process, the CDFI Fund
                                     considers whether Applicants are
                                     Affiliates, as such term is defined
                                     in 12 CFR 1805.104. If an Applicant
                                     and its Affiliate(s) wish to submit
                                     an Application, they must do so
                                     through one of the Affiliated
                                     entities, in one Application; an
                                     Applicant and its Affiliates may
                                     not submit separate Applications.
                                     If Affiliates submit multiple or
                                     separate Applications, the CDFI
                                     Fund may, at its discretion, reject
                                     all such Applications received or
                                     select only one of the submitted
                                     Applications to be deemed eligible,
                                     assuming that Application meets all
                                     other eligibility criteria in
                                     Section III of this NOFA.
Application type and submission     <bullet> Applicants must submit the
 overview through Grants.gov and     Required Application Documents
 Awards Management Information       listed in Table 4.
 System (AMIS).                     <bullet> 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.
                                    <bullet> 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.
                                    <bullet> Grants.gov and the SF-424:
                                       [cir] Grants.gov: Applicants must
                                        submit the SF-424, Application
                                        for Federal Assistance.
                                       [cir] All Applicants must
                                        register in the Grants.gov
                                        system to submit an Application
                                        successfully. The CDFI Fund
                                        strongly encourages Applicants
                                        to register as soon as possible.

[[Page 37917]]

 
                                       [cir] 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 federal
                                        government technological error
                                        that directly resulted in a late
                                        submission of the SF-424.
                                       [cir] The SF-424 must be
                                        submitted in Grants.gov on or
                                        before the deadline listed in
                                        Tables 1 and 6. Applicants are
                                        strongly encouraged to submit
                                        their SF-424 as early as
                                        possible in the Grants.gov
                                        portal.
                                       [cir] The deadline for the
                                        Grants.gov submission is before
                                        the AMIS submission deadline.
                                       [cir] The SF-424 must be
                                        submitted under the CDFI ERP
                                        Funding Opportunity Number for
                                        the CDFI ERP Application.
                                       [cir] If the SF-424 is not
                                        accepted by Grants.gov by the
                                        deadline, the CDFI Fund will not
                                        review any material submitted in
                                        AMIS and the Application will be
                                        deemed ineligible.
                                    <bullet> AMIS and all other Required
                                     Application Documents listed in
                                     Table 4:
                                       [cir] AMIS is an enterprise-wide
                                        information technology system.
                                        Applicants will use AMIS to
                                        submit and store organization
                                        and Application information with
                                        the CDFI Fund.
                                       [cir] Applicants are allowed only
                                        one CDFI ERP Application
                                        submission in AMIS.
                                       [cir] Each Application in AMIS
                                        must be signed by an Authorized
                                        Representative.
                                       [cir] Applicants must ensure that
                                        the Authorized Representative is
                                        an employee or officer of the
                                        Applicant, authorized to sign
                                        legal documents on behalf of the
                                        organization. Consultants or
                                        other contractors working on
                                        behalf of the organization may
                                        not be designated as Authorized
                                        Representatives.
                                       [cir] Only the Authorized
                                        Representative or Application
                                        Point of Contact, included in
                                        the Application, may submit the
                                        Application in AMIS.
                                       [cir] All Required Application
                                        Documents must be submitted in
                                        AMIS on or before the deadline
                                        specified in Tables 1 and 6. 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      <bullet> Applicants must have a
 (EIN).                              unique EIN assigned by the Internal
                                     Revenue Service.
                                    <bullet> The CDFI Fund will reject
                                     an Application submitted with the
                                     EIN of a parent or Affiliate
                                     organization.
                                    <bullet> The EIN in the Applicant's
                                     AMIS account must match the EIN in
                                     the Applicant's System for Award
                                     Management (SAM) account. The CDFI
                                     Fund reserves the right to reject
                                     an Application if the EIN in the
                                     Applicant's AMIS account does not
                                     match the EIN in its SAM account.
                                    <bullet> Applicants must enter their
                                     EIN into their AMIS profile by the
                                     deadline specified in Tables 1 and
                                     6.
Unique Entity Identifier (UEI)....  <bullet> The transition from DUNS to
                                     UEI is a federal government-wide
                                     initiative. See Section IV of this
                                     NOFA for more information.
                                    <bullet> The CDFI Fund will reject
                                     an Application submitted with the
                                     UEI number of a parent or Affiliate
                                     organization.
                                    <bullet> The UEI number in the
                                     Applicant's AMIS account must match
                                     the UEI number in the Applicant's
                                     Grants.gov and SAM accounts.
                                    <bullet> The CDFI Fund will reject
                                     an Application if the UEI number in
                                     the Applicant's AMIS account does
                                     not match the UEI number in its
                                     Grants.gov and SAM accounts.
                                    <bullet> Applicants must enter their
                                     UEI numbers into their AMIS profile
                                     on or before the deadline specified
                                     in Tables 1 and 6.
System for Award Management (SAM).  <bullet> 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.
                                    <bullet> Applicants must register in
                                     SAM as part of the Grants.gov
                                     registration process.
                                    <bullet> Applicants who have active
                                     SAM registration are already
                                     assigned a UEI. Applicants must
                                     also have an EIN number in order to
                                     register in SAM.
                                    <bullet> Applicants must be
                                     registered in SAM in order to
                                     submit an SF-424 in Grants.gov.
AMIS Account......................  <bullet> Each Applicant must
                                     register as an organization in AMIS
                                     and submit all required applicable
                                     Application Materials through the
                                     AMIS portal.
                                    <bullet> 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.
                                    <bullet> The Authorized
                                     Representative and/or Application
                                     Point of Contact must be included
                                     as ``users'' in the Applicant's
                                     AMIS account.
                                    <bullet> An Applicant that fails to
                                     properly update its AMIS account
                                     may miss important communication
                                     from the CDFI Fund and/or may not
                                     be able to successfully submit an
                                     Application.
501(c)(4) status..................  <bullet> Pursuant to 2 U.S.C. 1611,
                                     any 501(c)(4) organization that
                                     engages in lobbying activities is
                                     not eligible to receive a CDFI ERP
                                     Award.
Compliance with Nondiscrimination   <bullet> An Applicant may not be
 and Equal Opportunity Statutes,     eligible to receive a CDFI ERP
 Regulations, and Executive Orders.  Award if proceedings have been
                                     instituted against it in, by, or
                                     before any court, governmental
                                     agency, or administrative body, and
                                     a final determination made within
                                     the time period beginning three
                                     years prior to the publication of
                                     this NOFA until the execution of
                                     the Assistance Agreement that
                                     indicates the Applicant has
                                     violated any federal civil rights
                                     laws or regulations, including:
                                     Title VI of the Civil Rights Act of
                                     1964, as amended (42 U.S.C. 2000d
                                     et seq.); Section 504 of the
                                     Rehabilitation Act of 1973 (29
                                     U.S.C. 794); and the Age
                                     Discrimination Act of 1975 (42
                                     U.S.C. 6101-6107).

[[Page 37918]]

 
Depository Institution Holding      <bullet> In the case where a CDFI
 Company Applicant.                  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.
                                    <bullet> If a Depository Institution
                                     Holding Company and its Certified
                                     CDFI Subsidiary Insured Depository
                                     Institution both apply for a CDFI
                                     ERP Award, only the Depository
                                     Institution Holding Company will
                                     receive an Award, not both. In such
                                     instances, the Subsidiary Insured
                                     Depository Institution will be
                                     deemed ineligible.
                                    <bullet> Authorized Representatives
                                     of both the Depository Institution
                                     Holding Company and the Subsidiary
                                     CDFI Insured Depository Institution
                                     must certify that the information
                                     included in the Application
                                     represents that of the Subsidiary
                                     CDFI Insured Depository
                                     Institution, and that the CDFI ERP
                                     Award will be used to support the
                                     Subsidiary CDFI Insured Depository
                                     Institution for the eligible
                                     activities outlined in the
                                     Application.
Uses of Award.....................  <bullet> All Awards made through
                                     this NOFA must be used to support
                                     the Applicant's activities in at
                                     least one of the Eligible Activity
                                     Categories listed in Section II.D.
                                    <bullet> With the exception of
                                     Depository Institution Holding
                                     Company Applicants, CDFI ERP Awards
                                     may not be used to support the
                                     activities of, or otherwise be
                                     passed through, transferred, or co-
                                     awarded to, third-party entities,
                                     whether Affiliates, Subsidiaries,
                                     or others, unless done pursuant to
                                     a merger or acquisition or similar
                                     transaction, and with the CDFI
                                     Fund's prior written consent.
                                    <bullet> The Recipient of any Award
                                     made through this NOFA must comply,
                                     as applicable, with the Buy
                                     American Act of 1933, 41 U.S.C.
                                     8301-8303, and section 2 CFR
                                     200.216 of the Uniform
                                     Requirements, with respect to any
                                     Direct Costs.
Requested Award Amount............  <bullet> An Applicant must state its
                                     requested Award amount in the
                                     Application in AMIS. An Applicant
                                     that does not include this amount
                                     will not be allowed to submit an
                                     Application.
                                    <bullet> The maximum award amount an
                                     Applicant may request is no more
                                     than three times its average on-
                                     balance sheet Financial Products
                                     closed in its five most recent
                                     historic fiscal years or $15
                                     million, whichever is less.
                                    <bullet> The minimum Award amount an
                                     Applicant may request is $500,000.
                                     Organizations for which three times
                                     the average on-balance sheet
                                     Financial Products closed in in its
                                     five most recent historic fiscal
                                     years is less than $500,000 are
                                     eligible to request a $500,000
                                     Award.
Pending resolution of               <bullet> If an Applicant (or
 noncompliance.                      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.
Noncompliance or default status...  <bullet> 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 date of the
                                     AMIS Application deadline in this
                                     NOFA, (i) the CDFI Fund has made a
                                     final determination in writing that
                                     such Applicant (or Affiliate of
                                     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 and (ii) 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.
                                    <bullet> The CDFI Fund will not
                                     consider any Applicant that has
                                     defaulted on a loan from the CDFI
                                     Fund within five years of the
                                     Application deadline.
Debarment/Do Not Pay Verification.  <bullet> The CDFI Fund will conduct
                                     a debarment check and will not
                                     consider an Application submitted
                                     by an Applicant if the Applicant
                                     (or Affiliate of an Applicant) is
                                     delinquent on any federal debt.
                                    <bullet> 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.
CDFI Certification Status.........  <bullet> The CDFI Fund will consider
                                     an Application submitted by an
                                     Applicant that has pending
                                     noncompliance issues with its
                                     Annual Certification Report if the
                                     CDFI Fund has not yet made a final
                                     compliance determination.
                                    <bullet> If a Certified CDFI loses
                                     its certification at any point
                                     prior to the Award announcement,
                                     the Application will be deemed
                                     ineligible and no longer be
                                     considered by the CDFI Fund.
                                    <bullet> 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 it 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.
Regulated Institution.............  <bullet> To be eligible for an
                                     Award, each Regulated Institution
                                     Applicant must have a CAMELS/CAMEL
                                     rating (rating for banks and credit
                                     unions, respectively) or equivalent
                                     type of rating by its regulator
                                     (collectively referred to as
                                     ``CAMELS/CAMEL rating'') of at
                                     least ``4''.
                                    <bullet> CDFI ERP Applicants with
                                     CAMELS/CAMEL ratings of ``5'' will
                                     not be eligible for a CDFI ERP
                                     Award.
                                    <bullet> The CDFI Fund will not
                                     approve a CDFI ERP Award for an
                                     Applicant that has a Community
                                     Reinvestment Act (CRA) assessment
                                     rating of below ``Satisfactory'' on
                                     its most recent examination.

[[Page 37919]]

 
                                    <bullet> Applicants and/or their
                                     Appropriate Federal Banking Agency
                                     may be contacted by the CDFI Fund
                                     to provide additional information
                                     related to federal bank regulatory
                                     or CRA information. The CDFI Fund
                                     will consider this information and
                                     may choose not to approve a CDFI
                                     ERP Award for an Applicant if the
                                     information indicates that the
                                     Applicant may be unable to
                                     responsibly manage, re-invest, and/
                                     or report on a CDFI ERP Award
                                     during the Period of Performance.
                                    <bullet> The CDFI Fund will also
                                     evaluate material concerns
                                     identified by the Appropriate
                                     Federal Banking Agency in
                                     determining the eligibility of
                                     Regulated Institution Applicants.
Unregulated Institutions..........  <bullet> Application Assessment Tool
                                     (AAT) Total Financial Composite
                                     Score must be between 1 and 4.
                                     Applicants with an AAT Total
                                     Financial Composite Score of ``5''
                                     will not be eligible for a CDFI ERP
                                     Award.
                                    <bullet> AAT Total Compliance
                                     Composite Score of 1, 2, or 3 are
                                     eligible for a CDFI ERP Award.
                                     Applicants that receive a 4 or 5
                                     will receive a confirmatory review
                                     by CDFI Fund staff. Applicants
                                     deemed a high compliance risk at
                                     this point will not be eligible for
                                     a CDFI ERP Award.
------------------------------------------------------------------------

    Any Applicant that does not meet the criteria in Table 3 is 
ineligible to apply for a CDFI ERP Award under this NOFA.

IV. Application and Submission Information

    A. Address to Request an Application Package: Application Materials 
can be found on Grants.gov and on the CDFI Fund's website at 
www.cdfifund.gov. Applicants may request a paper version of any 
Application material by contacting the CDFI Fund at <a href="/cdn-cgi/l/email-protection#e1849391a182858788cf9593848092cf868e97"><span class="__cf_email__" data-cfemail="d6b3a4a696b5b2b0bff8a2a4b3b7a5f8b1b9a0">[email protected]</span></a>. 
Paper versions of Application Materials will only be provided if an 
Applicant cannot access the CDFI Fund's website.
    B. Content and Form of Application Submission: All Applications 
must be prepared using the English language, and calculations must be 
computed in U.S. dollars. The following table (Table 4) lists the 
Required Application Documents for this CDFI ERP funding round. In 
addition, the CDFI Fund will post to its website, at www.cdfifund.gov/erp, instructions for accessing and submitting an Application. Detailed 
Application content requirements are found in the Application and 
related guidance documents. The CDFI Fund reserves the right to request 
and review other pertinent or public information that has not been 
specifically requested in this NOFA or the Application. Information 
submitted by the Applicant that the CDFI Fund has not specifically 
requested will not be reviewed or considered as part of the 
Application. Financial data, portfolio, and activity information 
provided in the Application should only include the Applicant's 
activities. Information submitted must accurately reflect the 
Applicant's activities.

                                     Table 4--Required Application Documents
----------------------------------------------------------------------------------------------------------------
               Application documents                          Applicant type               Submission format
----------------------------------------------------------------------------------------------------------------
OMB Standard Form-424 Mandatory (Application for     All Applicants.................  Fillable PDF in
 Federal Assistance) (SF-424).                                                         Grants.gov.
CDFI ERP Application...............................  All Applicants.................  AMIS.
----------------------------------------------------------------------------------------------------------------
                                         ATTACHMENTS TO THE APPLICATION:
----------------------------------------------------------------------------------------------------------------
Audited financial statements for the Applicant's     Loan funds, venture capital      PDF in AMIS.
 two most recent historic fiscal years prior to the   funds, and other Non-Regulated
 publication date of this NOFA..                      Institutions.
Management Letter for the Applicant's Most Recent    Loan funds, venture capital      PDF in AMIS.
 Historic Fiscal Year.                                funds, and other Non-Regulated
The Management Letter is prepared by the              Institutions.
 Applicant's auditor and is a communication on
 internal control over financial reporting,
 compliance, and other matters. The Management
 Letter contains the auditor's findings regarding
 the Applicant's accounting policies and
 procedures, internal controls, and operating
 policies, including any material weaknesses,
 significant deficiencies, and other matters
 identified during an audit. The 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..
Statement in Lieu of Management Letter for           All Applicants for which         AMIS.
 Applicant's Most Recent Historic Fiscal Year         audited financial statements
 issued by the Board Treasurer or other Board         are available but a Management
 member using the template provided in AMIS           Letter is not available: loan
 (required only if Management Letters are not         funds, venture capital funds,
 available for audited financial statements).         and other Non-Regulated
                                                      Institutions.
Unaudited financial statements for Applicant's       Loan funds, venture capital      AMIS.
 current fiscal year as of March 31, 2022.            funds, and other Non-Regulated
                                                      Institutions.
Year-end Call reports for Applicant's three most     Regulated Institutions.........  AMIS.
 recent historic fiscal years prior to the
 publication date of this NOFA.

[[Page 37920]]

 
A current organizational chart outlining the         All Applicants.................  AMIS.
 Applicant's structure and staffing, as well as an
 updated, prospective organizational chart, if the
 Applicant plans to add staff resources to
 accomplish the activities under a CDFI ERP Award.
----------------------------------------------------------------------------------------------------------------

    C. Application Submission: The CDFI Fund has a two-step process 
that requires the submission of Required Application Documents (listed 
in Table 4) on separate deadlines and on separate systems. The SF-424 
must be submitted through Grants.gov and all other Required 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 
pre-approved in writing by the CDFI Fund. The deadline for submitting 
the SF-424 and all other Application components is listed in Tables 1 
and 6.
    All Applicants must register in the Grants.gov system to 
successfully submit the SF-424. The CDFI Fund strongly encourages 
Applicants to start the Grants.gov registration process as soon as 
possible (refer to the following link: http://www.grants.gov/web/grants/register.html). The Grants.gov registration process requires 
Applicants to have UEI and EIN numbers. If an Applicant has not 
previously registered with Grants.gov, it must first successfully 
register in SAM.gov, as described in Section IV.E below.
    The CDFI Fund will not extend the Application deadline for any 
Applicant that started the Grants.gov registration process, but did not 
complete it by the deadline. An Applicant that has previously 
registered with Grants.gov must verify that its registration is current 
and active. Applicants should contact Grants.gov directly with 
questions related to the registration or submission process as the CDFI 
Fund does not maintain the Grants.gov system.
    Each Application must be signed by a designated Authorized 
Representative in AMIS before it can be submitted. An Authorized 
Representative is an employee or officer and is authorized to sign 
legal documents on behalf of the Applicant. Applicants must ensure that 
only a qualified Authorized Representative signs the Application; 
Consultants or other contractors working on behalf of the Applicant may 
not be designated as Authorized Representatives. Only a designated 
Authorized Representative or Application Point of Contact, included in 
the Application, may submit the Application in AMIS.
    D. Unique Entity Identifier (UEI): The UEI has replaced the Dun and 
Bradstreet Data Universal Numbering System (DUNS) number effective 
April 4, 2022. The UEI, generated in the System for Award Management 
(SAM.gov), has become the official identifier for doing business with 
the government. This transition allows the federal government to 
streamline the entity identification and validation process, making it 
easier and less burdensome for entities to do business with the federal 
government. If an entity is registered in SAM.gov today, its UEI has 
already been assigned and is viewable in SAM.gov, including inactive 
registrations. New registrants will be assigned a UEI as part of their 
SAM registration.
    E. System for Award Management (SAM): Any entity applying for 
federal grants or other forms of federal financial assistance through 
Grants.gov must be registered in SAM before submitting its SF-424 
through that platform. When accessing SAM.gov, users will be asked to 
create a login.gov user account (if they do not 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 UEI is required by SAM 
and must be mailed to the Federal Service Desk. This requirement is 
applicable to new entities registering in SAM, as well as existing 
entities with registrations being updated or renewed in SAM. Existing 
entities with registered entity administrators do not need to submit an 
annual notarized letter. Applicants that have previously completed the 
SAM registration process must verify that their SAM accounts are 
current and active.
    Each Applicant must continue to maintain an active SAM registration 
with current information at all times during which it has an active 
federal award or an Application under consideration by a federal 
awarding agency. The CDFI Fund will deem ineligible any Applicant that 
fails to properly register or activate its SAM account and, as a 
result, is unable to submit the SF-424 in Grants.gov or Application in 
AMIS by the applicable Application deadlines. These restrictions also 
apply to organizations that have not yet received a UEI or EIN number. 
Applicants must contact SAM directly with questions related to 
registration or SAM account changes, as the CDFI Fund does not maintain 
this system and has no ability to make changes or correct errors of any 
kind. For more information about SAM, visit https://www.sam.gov.

            Table 5_Grants.gov Registration Timeline Summary
____________________________________
                                                     Estimated  minimum
            Step                     Agency           time  to complete
____________________________________
Register in SAM.gov.........  System for Award      Four (4) Weeks.*
                               Management
                               (SAM.gov). This
                               step will include
                               obtaining a UEI..
Register in Grants.gov......  Grants.gov..........  One (1) Week.**
------------------------------------------------------------------------
* Applicants are advised that the stated durations are estimates only
  and represent minimum timeframes. Actual timeframes may take longer.
  The CDFI Fund will deem ineligible any Applicant that fails to
  properly register or activate its SAM account and/or fails to properly
  register in Grants.gov.
** This estimate assumes an Applicant is already registered in SAM.gov.


[[Page 37921]]

    F. Submission Dates and Times:
    1. Submission Deadlines: The following table provides the critical 
deadlines for the CDFI ERP Funding Round.

                               Table 6--Critical Deadlines for CDFI ERP Applicants
----------------------------------------------------------------------------------------------------------------
           Description                       Deadline             Time (eastern time--ET)     Submission method
----------------------------------------------------------------------------------------------------------------
Last day to submit SF-424          July 26, 2022..............  11:59 p.m. ET..............  Electronically via
 Mandatory (Application for                                                                   Grants.gov.
 Federal Assistance).
Last day to enter EIN and UEI      July 26, 2022..............  11:59 p.m. ET..............  AMIS.
 numbers in AMIS.
Last day to contact CDFI Fund      August 19, 2022............  5:00 p.m. ET...............  Service Request via
 with questions about the CDFI                                                                AMIS or
 ERP.                                                                                        <a href="/cdn-cgi/l/email-protection#bdd8cfcdfdded9dbd493c9cfd8dcce93dad2cb"><span class="__cf_email__" data-cfemail="53362123133037353a7d27213632207d343c25">[email protected]</span></a>
                                                                                              or 202-653-0421.
Last day to contact CDFI Fund      August 19, 2022............  5:00 p.m. ET...............  Compliance and
 with questions about Compliance                                                              Reporting AMIS
 or CDFI Certification.                                                                       Service Request or
                                                                                              202-653-0423.
Last day to contact AMIS-IT Help   August 23, 2022............  5:00 p.m. ET...............  Service Request via
 Desk (regarding AMIS technical                                                               AMIS or
 problems only).                                                                              <a href="/cdn-cgi/l/email-protection#6d2c20243e2d0e090b0443191f080c1e430a021b"><span class="__cf_email__" data-cfemail="8acbc7c3d9cae9eeece3a4fef8efebf9a4ede5fc">[email protected]</span></a> or 202-653-0422.
Last day to submit CDFI ERP        August 23, 2022............  11:59 p.m. ET..............  AMIS.
 Application.
----------------------------------------------------------------------------------------------------------------

    2. Confirmation of Application Submission in Grants.gov and AMIS: 
Applicants are required to submit the SF-424, Application for Federal 
Assistance through the Grants.gov system, under the CDFI ERP Funding 
Opportunity Number by the applicable deadline. All other Required 
Application Documents (listed in Table 4) must be submitted through the 
AMIS website by the applicable deadline. Applicants must submit the SF-
424 in Grants.gov prior to submitting the Application 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 components in AMIS, and the Application will be deemed 
ineligible.
    (a) Grants.gov Submission Information: Each Applicant will receive 
an email from Grants.gov immediately after submitting the SF-424 
confirming that the submission has entered the Grants.gov system. This 
email will contain a tracking number for the submitted SF-424. Within 
48 hours, the Applicant will receive a second email, which will 
indicate if the submitted SF-424 was either successfully validated or 
rejected with errors. However, Applicants should not rely on the email 
notification from Grants.gov to confirm that their SF-424 was 
validated. Applicants are strongly encouraged to use the tracking 
number provided in the first email to closely monitor the status of 
their SF-424 by contacting the helpdesk at Grants.gov directly. The 
Application material submitted in AMIS is not officially accepted by 
the CDFI Fund until Grants.gov has validated the SF-424.
    (b) AMIS Submission Information: AMIS is a web-based portal where 
Applicants will directly enter their Application information and add 
the required attachments listed in Table 4. AMIS will verify that the 
Applicant provided the minimum information required to submit an 
Application. Applicants are responsible for the quality and accuracy of 
the information and attachments included in the Application submitted 
in AMIS. The CDFI Fund strongly encourages Applicants to allow 
sufficient time to review and complete the Application components and 
documents included in Table 4, and remedy any issues prior to the 
Application deadline. Each Application must be signed by an Authorized 
Representative in AMIS before it can be submitted. Applicants must 
ensure that the Authorized Representative is an employee or officer and 
is authorized to sign legal documents on behalf of the Applicant. 
Consultants working on behalf of the Applicant may not be designated as 
Authorized Representatives. Only an Authorized Representative or an 
Application Point of Contact may submit an Application. Applicants may 
only submit one CDFI ERP Application. Upon submission, the Application 
will be locked and cannot be resubmitted, edited, or modified in any 
way.
    3. Multiple Application Submissions: Applicants are only permitted 
to submit one complete Application. 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. 
Applicants can only submit one Application through AMIS.
    4. Late Submission: The CDFI Fund will not accept an Application if 
the SF-424 is not submitted and accepted by Grants.gov by the SF-424 
deadline. 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.
    An exception will be made if an SF-424 or Application submission 
delay is as a direct result of a federal government administrative 
error or a federal government technological error. This exception 
includes any errors associated with Grants.gov, SAM.gov, AMIS or any 
other applicable government system.
    (a) SF-424 Late Submission: In cases where a federal government 
administrative or federal government technological error directly 
resulted in the late submission of the SF-424, the Applicant must 
submit a written request for acceptance of the late SF-424 submission 
and include documentation of the error no later than two business days 
after the SF-424 deadline. The CDFI Fund will not respond to requests 
for acceptance of late SF-424 submissions after that time period. 
Applicants must submit late SF-424 submission requests to the CDFI Fund 
via an AMIS Service Request to the CDFI ERP with a subject line of 
``Late SF-424 Submission Request.''
    (b) AMIS Application Late Submission: In cases where a federal 
government administrative or federal government technological error 
directly resulted in a late submission of the Application in AMIS, the 
Applicant must submit a written request for acceptance of the late 
Application submission and include documentation of the error no later 
than two business days after the Application deadline. The CDFI Fund 
will not respond to requests for acceptance of late Application 
submissions after that time period. Applicants must submit late 
Application submission requests to the CDFI Fund via an AMIS Service 
Request

[[Page 37922]]

to the CDFI ERP with a subject line of ``Late AMIS Application 
Submission Request.''
    G. Funding Restrictions: CDFI ERP Awards are limited by the 
following:
    (a) A Recipient shall use the CDFI ERP Award only for the eligible 
activities in the ERP-Eligible Geographies as described in Section II 
of this NOFA and its Assistance Agreement. Financial Products and 
expended Award funds used to satisfy the CDFI ERP PG&Ms for reporting 
may not also be used to satisfy PG&Ms for CDFI Program and NACA Program 
awards, the Small Dollar Loan Program or the CDFI Rapid Response 
Program.
    (b) With the exception of Depository Institution Holding Company 
Applicants, CDFI ERP Awards may not be used to support the activities 
of, or otherwise be passed through, transferred, or co-awarded to, 
third-party entities, whether Affiliates, Subsidiaries, or others, 
unless done pursuant to a merger or acquisition or similar transaction, 
and with the CDFI Fund's prior written consent.
    (c) CDFI ERP Award payments shall only be made to the Recipient.
    (d) The CDFI Fund, in its sole discretion, may issue CDFI ERP 
Awards in amounts, or under terms and conditions, which are different 
from those requested by an Applicant.

V. Application Review Information

    A. Criteria: If the Applicant has submitted an eligible 
Application, the CDFI Fund will conduct a substantive review in 
accordance with the criteria and procedures described in this NOFA, the 
related Application guidance materials, and the Uniform Requirements. 
The CDFI Fund reserves the right to contact the Applicant by telephone, 
email, or mail for the purpose of clarifying or confirming Application 
information. If contacted, the Applicant must respond within the time 
period communicated by the CDFI Fund or the Application may be 
rejected. The CDFI Fund will review the CDFI ERP Applications in 
accordance with the process below. All reviewers will be subject to the 
CDFI Fund's conflict of interest review and process. The CDFI Fund's 
Application conflict of interest policy is located on the CDFI Fund's 
website.
    1. CDFI ERP Application Award Determination Process: The CDFI Fund 
will evaluate each Application using a four-step review process 
described in the sections below. Applicants that meet the minimum 
criteria will advance to the next step in the review process.
    (a) Step 1. Eligibility Review: The CDFI Fund will evaluate each 
Application to determine its eligibility status pursuant to Section III 
of this NOFA.
    (b) Step 2. Financial Analysis and Compliance Risk Evaluation:
    (i) Step 2(a). Financial Analysis: For Regulated Institutions, the 
CDFI Fund will consider financial safety and soundness information from 
the Appropriate Federal or State Banking Agency. As detailed in Table 
3, each Regulated Institution CDFI ERP Applicant must have a CAMELS/
CAMEL rating of at least ``4'', a CRA Rating of at least 
``Satisfactory'' (if applicable), and/or no significant materials 
concerns from its regulator.
    For Non-Regulated Applicants, the CDFI Fund will evaluate the 
financial health and viability of each Non-Regulated Applicant using 
financial information provided by the Applicant. For the Financial 
Analysis step, each Non-Regulated Applicant will receive a Total 
Financial Composite Score on a scale of one (1) to five (5), with one 
(1) being the highest rating. The Total Financial Composite Score is 
based on the analysis of twenty-three (23) financial indicators. 
Applications will be grouped based on the Total Financial Composite 
Score. Applicants must receive a Total Financial Composite Score of one 
(1), two (2), three (3), or four (4) to advance to Step 3. Applicants 
that receive a Total Financial Composite Score of five (5) will not 
advance to Step 3.
    (ii) Step 2(b). Compliance Risk Evaluation: For the compliance 
analysis, the CDFI Fund will evaluate the compliance risk of each 
Applicant using information provided in the Application, as well as an 
Applicant's reporting history, reporting capacity, and performance risk 
with respect to the Applicant's PG&Ms on all previous CDFI Fund awards. 
Each Applicant will receive a Total Compliance Composite Score on a 
scale of one (1) to five (5), with one (1) being the highest rating. 
Applicants that receive a Total Compliance Composite Score of one (1), 
two (2), or three (3), will advance to Step 3. If an Applicant receives 
an initial Total Compliance Composite Score of four (4) or five (5), 
the score will be confirmed by CDFI Fund staff. If the Applicant is 
confirmed as a high compliance risk (score of a 4 or 5) the Applicant 
will not advance to Step 3.
    (c) Step 3: Application Evaluation and Initial Funding 
Recommendation: Applicants that proceed to Step 3 will be evaluated 
based on their submitted Application. The Step 3 evaluation will be 
conducted by one external non-federal reviewer and one internal CDFI 
Fund or other federal government reviewer. The external non-federal 
reviewers will be selected based on criteria that include: a 
professional background in affordable housing finance or in community 
and economic development finance. These reviewers must complete the 
CDFI Fund's conflict of interest process and be approved by the CDFI 
Fund.
    (i) External Reviewer: The external reviewer's evaluation of the 
Application has two components. First, the external reviewer will 
evaluate and score the Application based on the criteria outlined in 
Table 7. Each Application will receive a Step 3 score of up to 100 
points based on this evaluation. Second, the external reviewer will 
also provide an Award recommendation as to whether the Application 
should be forwarded to Step 4 for an Award determination. This 
recommendation is independent from the Step 3 evaluation score and is 
based on whether an Application achieves minimal standards for clarity 
and consistency of business strategy; clear and eligible use of 
funding; and organizational capacity to deploy at least a minimum Award 
amount during the Period of Performance.

                             Table 7--Step 3: External Reviewer Evaluation Criteria
----------------------------------------------------------------------------------------------------------------
           Application Section                 Points                             Criteria
----------------------------------------------------------------------------------------------------------------
Applicant Information....................               0  <bullet> This section is not scored.
Business Strategy........................              40  <bullet> Application demonstrates a strong
                                                            understanding of the economic impact of the COVID-19
                                                            pandemic on the geographies and populations the
                                                            Applicant proposes to serve.
                                                           <bullet> The planned use of a CDFI ERP Award is
                                                            clearly described in the Application and the
                                                            Applicant's business strategy directs Financial
                                                            Products, Financial Services, Development Services
                                                            and/or Grants to Low-to-Moderate Income populations
                                                            that have been disproportionately impacted by the
                                                            COVID-19 pandemic.

[[Page 37923]]

 
                                                           <bullet> Applicant describes a clear link between the
                                                            identified economic impacts of the COVID-19 pandemic
                                                            on the geographies and populations it proposes to
                                                            serve and the achievement of the identified
                                                            outcomes.
                                                           <bullet> Application demonstrates that the Applicant
                                                            has engaged with and obtained input on its business
                                                            strategy from geographies and populations that it
                                                            proposes to serve with a CDFI ERP Award and that the
                                                            Applicant proposes culturally and linguistically
                                                            relevant marketing and/or outreach efforts that will
                                                            support the deployment of CDFI ERP Award consistent
                                                            with its business strategy.
                                                           <bullet> A CDFI ERP Award amount requested for
                                                            operational support to help build organizational
                                                            capacity is clearly presented in the Application and
                                                            aligns with the Applicant's business strategy.
Community Impact--Track Record...........              15  <bullet> Applicant's track record demonstrates that
                                                            it has a history of reaching underserved
                                                            communities, as measured by the level of activities
                                                            for various CDFI ERP policy priorities identified in
                                                            the Application.
Community Impact--Policy Priorities,                   30  <bullet> Applicant commits to devote a portion of the
 Projected Performance, and Outcomes.                       Award requested (up to 100%) towards its selected
                                                            CDFI ERP policy priority as indicated in the
                                                            Application, or commits to increase its lending to
                                                            ERP-Eligible Geographies by a multiplier of its
                                                            Award amount.
                                                           <bullet> Applicant's projected level of proposed
                                                            activities is well-supported in the Application.
                                                           <bullet> Applicant provides a feasible plan for data
                                                            collection, activity tracking, and reporting in the
                                                            Application.
Organizational Capacity..................              15  <bullet> Applicant's current staff and proposed
                                                            staffing plan support its ability to execute the
                                                            business strategy proposed in its Application.
                                                           <bullet> Applicant's track record shows a strong
                                                            ability to use available resources to assist
                                                            communities and provide Financial Products,
                                                            Financial Services, Development Services and/or
                                                            Grants in ERP-Eligible Geographies proposed in its
                                                            business strategy.
----------------------------------------------------------------------------------------------------------------

    (ii) Federal Reviewer: The federal reviewer has three tasks. First, 
the federal reviewer will conduct quality control for the external 
reviewer's evaluation and scoring of the Application to ensure the 
external reviewer followed the review evaluation criteria outlined in 
Table 7. Second, the federal reviewer will also provide a 
recommendation as to whether an Application should be forwarded to Step 
4 for an Award determination. This recommendation is independent from 
the Step 3 evaluation and is based on whether the Application achieves 
minimal standards for clarity and consistency in its business strategy, 
clear and eligible use of funding, and adequate organizational capacity 
to deploy at least a minimum Award amount during the Period of 
Performance. Finally, the federal reviewer will recommend an initial 
Award amount. The initial Award amount recommendation will generally be 
based on the numeric score assigned by the external reviewer. However, 
the federal reviewer may elect to make an initial Award amount 
recommendation below the amount indicated by the Step 3 score if a 
determination is made that the Step 3 score did not fully capture 
important due diligence concerns related to the Applicant's financial 
health or its ability to deploy the Award effectively. For example, the 
federal reviewer may reduce the initial Award amount recommendation for 
those Applicants that have a CAMEL/CAMELS, or equivalent, rating of 
four (4) or Total Financial Composite Score of four (4) during the Step 
3 evaluation.
    (d) Advancing to Step 4: Applications that are recommended to 
advance to Step 4 by both the external and federal reviewers will 
advance to Step 4. If either the external or the federal reviewer 
recommends that an Applicant should not advance to Step 4 and therefore 
not receive an Award, the Application will be forwarded to a reviewing 
official for a final determination. The reviewing official may agree 
with the recommendation to not fund the Application, or overturn the 
recommendation and forward the Application to Step 4 for a final award 
amount determination.
    (e) Step 4. Final Award Amount Determination: Each Application that 
advances to Step 4 will be reviewed by a selecting official for quality 
control to ensure that the evaluation conducted in Step 3 was in 
accordance with the evaluation criteria. The selecting official will 
determine a preliminary Award amount for each Application by approving 
the Award amount recommended in Step 3. In cases where the Step 3 
initial Award amount recommendation differs from the amount indicated 
by the Step 3 score, the selecting official may accept the Step 3 
initial Award amount recommendation, reject it in favor of the amount 
indicated in the Step 3 score, or select another Award amount that is 
within 20% of the Step 3 initial Award amount recommendation. The 
selecting official may only adjust the Award amount from the Step 3 
recommendation if there are concerns about the Applicant's ability to 
deploy the full, recommended Award amount within the Period of 
Performance. All approved Applicants will be awarded at least the 
minimum Award amount noted in Section II.A, and no Applicant will 
receive an Award amount greater than the maximum Award amount outlined 
therein. Once a preliminary final Award determination has been made for 
every Application in the Award pool, the CDFI ERP Program Manager (or 
designee) will compare the total amount awarded in the preliminary 
final Award pool to the amount of available funding. If the total 
amount awarded in the preliminary Award pool exceeds the amount 
available for Awards under this NOFA, the CDFI Fund will provide a 
proportional reduction to reduce all preliminary Award amounts such 
that only the amount available is awarded. This proportional reduction 
will not apply to those Applicants that received a preliminary $500,000 
minimum Award amount during Step 4 and will not result in reducing an 
Applicant's

[[Page 37924]]

Award to an amount below the $500,000 minimum.
    2. Regulated Institutions: The CDFI Fund will consider safety and 
soundness information from the Appropriate Federal or State Banking 
Agency. If the Applicant is a CDFI Depository Institution Holding 
Company, the CDFI Fund will consider information provided by the 
Appropriate Federal or State Banking Agencies about both the CDFI 
Depository Institution Holding Company and the Certified CDFI 
Subsidiary Insured Depository Institution that will expend and carry 
out the Award. If the Appropriate Federal or State Banking Agency 
identifies safety and soundness concerns, the CDFI Fund will assess 
whether such concerns cause or will cause the Applicant to be incapable 
of undertaking the activities for which funding has been requested.
    3. Non-Regulated Institutions: The CDFI Fund must ensure, to the 
maximum extent practicable, that Recipients which are Non-Regulated 
CDFIs are financially and managerially sound, and maintain appropriate 
internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)). 
Further, the CDFI Fund must determine that an Applicant's capacity to 
operate as a CDFI and its continued viability will not be dependent 
upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is 
determined that the Applicant is incapable of meeting these 
requirements, the CDFI Fund reserves the right to deem the Applicant 
ineligible or terminate the Award.
    B. Anticipated Award Announcement: The CDFI Fund anticipates making 
CDFI ERP Award announcements in the first quarter of CY 2023; however, 
the anticipated Award Announcement Date is subject to change without 
notice.
    C. Application Rejection: The CDFI Fund reserves the right to 
reject an Application if information (including administrative errors) 
comes to the CDFI Fund's attention that adversely affects an 
Applicant's eligibility for an award; adversely affects the Recipient's 
certification as a CDFI (to the extent that the award is conditional 
upon CDFI certification); adversely affects the CDFI Fund's evaluation 
or scoring of an Application; or indicates fraud or mismanagement on 
the Applicant's part. If the CDFI Fund determines any portion of the 
Application is incorrect in a material respect, the CDFI Fund reserves 
the right, in its sole discretion, to reject the Application. The CDFI 
Fund reserves the right to change its eligibility and evaluation 
criteria and procedures, if the CDFI Fund deems it appropriate. If the 
changes materially affect the CDFI Fund's Award decisions, the CDFI 
Fund will provide information about the changes through its website. 
The CDFI Fund's Award decisions are final, and there is no right to 
appeal decisions.

VI. Federal Award Administration Information

    A. Award Notification: Each successful Applicant will receive an 
email ``notice of award'' notification from the CDFI Fund stating that 
its Application has been approved for a CDFI ERP Award. Each Applicant 
not selected for an Award will receive an email stating that a 
debriefing notice has been provided in its AMIS account.
    B. Assistance Agreement: Each Applicant selected to receive an 
Award must enter into an Assistance Agreement with the CDFI Fund in 
order to receive payment. The Assistance Agreement will set forth the 
Award's terms and conditions, including but not limited to the: (i) 
Award Amount; (ii) Award type; (iii) the approved uses of Award; (v) 
PG&Ms; and (vi) reporting requirements. CDFI ERP Assistance Agreements 
will have a five-year Period of Performance. As a condition of their 
Award, CDFI ERP Recipients must meet certain PG&Ms, including, but not 
limited to: (i) All CDFI ERP Recipients must expend 60% of the 
Recipient's Award amount by the end of year three of the Period of 
Performance, 80% of the Award amount by the end of year four, and 100% 
of the Award amount by the Period of Performance end date; (ii) 
Recipients must deploy 90% of funds for program activities in the ERP-
Eligible Geographies; and (iii) any Award funds deployed outside of 
ERP-Eligible Geographies must serve Low- or Moderate-Income persons or 
businesses disproportionately impacted by the COVID-19 pandemic that 
are included in CDFI Eligible Markets. Additional PG&Ms for each 
Recipient will be determined based on its proposed commitments relative 
to the CDFI ERP policy priorities in its Application. Final PG&Ms may 
differ and will be set forth in the CDFI ERP Assistance Agreement.
    1. Certificate of Good Standing: All CDFI ERP Recipients that are 
not Regulated Institutions will be required to provide the CDFI Fund 
with a certificate of good standing from the secretary of state for the 
Recipient's jurisdiction of formation prior to closing. This 
certificate can often be acquired online on the secretary of state's 
website for the Recipient's jurisdiction of formation and must 
generally be dated within 180 days prior to the date the Recipient 
executes the Assistance Agreement.
    2. Closing: Pursuant to the Assistance Agreement, there will be an 
initial closing at which point the Assistance Agreement and related 
documents will be properly executed and delivered, and payment of an 
initial CDFI ERP Award amount may be made. The first payment is the 
estimated amount of the Award that the Recipient states in its 
Application that it will use for eligible CDFI ERP activities in the 
first 12 months after the Award announcement. The CDFI Fund reserves 
the right to increase or decrease the first payment amount to ensure 
that any subsequent payment is at least $75,000.
    The CDFI Fund will minimize the time between the Recipient 
incurring costs for eligible activities and making Award payment(s) in 
accordance with the Uniform Requirements. Advanced payments for 
eligible activities will occur no more than one year in advance of the 
Recipient incurring costs for the eligible activities. Following the 
initial closing, there may be subsequent closings involving additional 
Award payments. There will be a maximum of four subsequent Award 
payments. Any documentation in addition to the Assistance Agreement 
that is connected with such subsequent closings and payments shall be 
properly executed and timely delivered by the Recipient to the CDFI 
Fund.
    3. Requirements Prior to Entering into an Assistance Agreement: If, 
prior to entering into an Assistance Agreement, information (including 
administrative errors) comes to the CDFI Fund's attention that 
adversely affects the Recipient's eligibility for an Award; adversely 
affects the Recipient's certification as a CDFI; adversely affects the 
CDFI Fund's evaluation of the Application; indicates that the Recipient 
is not in compliance with any requirement listed in the Uniform 
Requirements; indicates that the Recipient is not in compliance with a 
term or condition of a prior CDFI Fund award; indicates the Recipient 
has failed to execute and return a prior round Assistance Agreement to 
the CDFI Fund within the CDFI Fund's deadlines; or indicates fraud or 
mismanagement on the Recipient's part, the CDFI Fund may, in its 
discretion and without advance notice to the Recipient, terminate the 
Award or take such other actions as it deems appropriate. The CDFI Fund 
reserves the right, in its sole discretion, to rescind the Award if the 
Recipient fails to return the Assistance Agreement, signed by the 
Authorized Representative of the Recipient, and/or provide the CDFI 
Fund with any

[[Page 37925]]

requested documentation, within the CDFI Fund's deadlines. The CDFI 
Fund reserves the right to rescind the Award if Recipient does not 
maintain an active SAM.gov account or does not re-activate, or renew, 
as applicable, the account within the deadlines that the CDFI Fund 
communicates to affected Applicants during the Application evaluation 
period.
    In addition, the CDFI Fund reserves the right, in its sole 
discretion, to terminate and rescind the Assistance Agreement and the 
Award made under this NOFA pending the criteria described in the 
following table:

    Table 8--Requirements Prior To Executing an Assistance Agreement
------------------------------------------------------------------------
            Requirement                           Criteria
------------------------------------------------------------------------
Failure to meet reporting           <bullet> If a Recipient received a
 requirements.                       prior award under any CDFI Fund
                                     program and is not in compliance
                                     with the reporting requirements of
                                     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 may
                                     delay entering into an Assistance
                                     Agreement and/or disbursing an
                                     award until such reporting
                                     requirements are met. If the
                                     Recipient is unable to meet the
                                     requirement(s) within the timeframe
                                     specified by the CDFI Fund, the
                                     CDFI Fund may terminate and rescind
                                     the Assistance Agreement and the
                                     award made under this NOFA.
                                    <bullet> The automated systems the
                                     CDFI Fund uses only acknowledge a
                                     report's receipt and are not a
                                     determination of meeting reporting
                                     requirements.
Failure to maintain CDFI            <bullet> A Recipient must be a
 Certification.                      Certified CDFI as is defined in the
                                     CDFI ERP Application and this NOFA,
                                     prior to entering into an
                                     Assistance Agreement.
                                    <bullet> 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 CDFI ERP
                                     Award, pending full resolution, in
                                     the sole determination of the CDFI
                                     Fund, of the noncompliance.
                                    <bullet> 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 CDFI ERP Award made
                                     under this NOFA.
Pending resolution of               <bullet> The CDFI Fund will delay
 noncompliance.                      entering into an Assistance
                                     Agreement with a Recipient that has
                                     pending noncompliance issues with
                                     any of its previously executed CDFI
                                     award agreement(s), assistance
                                     agreement(s), allocation
                                     agreement(s), bond loan
                                     agreement(s), or agreement(s) to
                                     guarantee if the CDFI Fund has not
                                     yet made a final compliance
                                     determination.
                                    <bullet> If the Recipient is unable
                                     to satisfactorily resolve the
                                     compliance issues, the CDFI Fund
                                     may terminate and rescind the
                                     Assistance Agreement and the award
                                     made under this NOFA.
Noncompliance or default status...  <bullet> If, at any time prior to
                                     entering into an Assistance
                                     Agreement, the CDFI Fund determines
                                     that a Recipient (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 award
                                     agreement(s), assistance
                                     agreement(s), allocation
                                     agreement(s), bond loan
                                     agreement(s), or agreement(s) to
                                     guarantee , and the CDFI Fund has
                                     provided written notification that
                                     the Recipient is ineligible to
                                     apply for or receive any future
                                     awards or allocations for a time
                                     period specified by the CDFI Fund
                                     in writing, the CDFI Fund may delay
                                     entering into an Assistance
                                     Agreement until the Recipient has
                                     cured the noncompliance by taking
                                     actions the CDFI Fund has specified
                                     within such specified timeframe. If
                                     the Recipient is unable to cure the
                                     noncompliance within the specified
                                     timeframe, the CDFI Fund may
                                     terminate and rescind the
                                     Assistance Agreement and the Award
                                     made under this NOFA.
Compliance with federal civil       <bullet> If, prior to entering into
 rights requirements.                an Assistance Agreement under this
                                     NOFA, the Recipient receives a
                                     final determination, made within
                                     the last three years, in any
                                     proceeding instituted against the
                                     Recipient in, by, or before any
                                     court, governmental, or
                                     administrative body or agency,
                                     declaring that the Recipient has
                                     violated any federal civil rights
                                     laws or regulations, including:
                                     Title VI of the Civil Rights Act of
                                     1964, as amended (42 U.S.C. 2000d
                                     et seq.); Section 504 of the
                                     Rehabilitation Act of 1973 (29
                                     U.S.C. 794); and the Age
                                     Discrimination Act of 1975, (42
                                     U.S.C. 6101-6107), the CDFI Fund
                                     will terminate and rescind the
                                     Assistance Agreement and the Award
                                     made under this NOFA.
Do Not Pay........................  <bullet> 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.
                                    <bullet> The CDFI Fund reserves the
                                     right, in its sole discretion, to
                                     rescind an award if the Recipient
                                     (or Affiliate of a Recipient) is
                                     determined to be ineligible based
                                     on data in the Do Not Pay database.
Safety and soundness..............  <bullet> If it is determined the
                                     Recipient is, or will be, incapable
                                     of meeting its Award obligations,
                                     the CDFI Fund will deem the
                                     Recipient to be ineligible, or
                                     require it to improve its safety
                                     and soundness prior to entering
                                     into an Assistance Agreement.
------------------------------------------------------------------------

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

[[Page 37926]]



               Table 9--Annual Reporting Requirements \13\
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Financial Statement Audit Report    A Non-profit Recipient (including
 (Non-profit Recipient including     Insured Credit Unions and State-
 Insured Credit Unions and State-    Insured Credit Unions) must submit
 Insured Credit Unions).             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, if any are prepared.
                                    Under no circumstances should this
                                     be construed as the CDFI Fund
                                     requiring the Recipient to conduct
                                     or arrange for additional audits
                                     not otherwise required under
                                     Uniform Requirements or otherwise
                                     prepared at the request of the
                                     Recipient or parties other than the
                                     CDFI Fund.
Financial Statement Audit (FSA)     For-profit Recipients must submit a
 Report (For-Profit Recipient).      FSA Report in AMIS, along with the
                                     Recipient's statement of financial
                                     condition audited or reviewed by an
                                     independent certified public
                                     accountant.
Financial Statement Audit Report    If the Recipient is a Depository
 (Depository Institution Holding     Institution Holding Company or an
 Company and Insured Depository      Insured Depository Institution, it
 Institution).                       must submit an FSA Report in AMIS.
Single Audit Report (Non-Profit     A non-profit Recipient must complete
 Recipients, if applicable).         an annual Single Audit pursuant to
                                     the Uniform Requirements (see 2 CFR
                                     Subpart F-Audit Requirements) 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.
Transaction Level Report (TLR)....  The Recipient must submit a TLR to
                                     the CDFI Fund through AMIS.
                                    If the Recipient is a Depository
                                     Institution Holding Company that
                                     deploys all or a portion of its
                                     CDFI ERP Award through its
                                     Subsidiary CDFI Insured Depository
                                     Institution, that Subsidiary CDFI
                                     Insured Depository Institution must
                                     also submit a TLR. Furthermore, if
                                     the Depository Institution Holding
                                     Company itself deploys any portion
                                     of the CDFI ERP Award, the
                                     Depository Institution Holding
                                     Company must submit a TLR.
Uses of Award Report..............  The Recipient must submit the Uses
                                     of Award Report to the CDFI Fund in
                                     AMIS.
                                    If the Recipient is a Depository
                                     Institution Holding Company that
                                     deploys all or a portion of its
                                     CDFI ERP Award through its
                                     Subsidiary CDFI Insured Depository
                                     Institution, that Subsidiary CDFI
                                     Insured Depository Institution must
                                     also submit a Uses of Award Report.
                                     Furthermore, if the Depository
                                     Institution Holding Company itself
                                     deploys any portion of the CDFI ERP
                                     Award, the Depository Institution
                                     Holding Company must submit a Uses
                                     of Award Report.
Performance Progress Report.......  The Recipient must submit the
                                     Performance Progress Report through
                                     AMIS.
                                    If the Recipient is a Depository
                                     Institution Holding Company that
                                     deploys all or a portion of its
                                     CDFI ERP Award through its
                                     Subsidiary CDFI Insured Depository
                                     Institution, that Subsidiary CDFI
                                     Insured Depository Institution must
                                     also submit a Performance Progress
                                     Report. Furthermore, if the
                                     Depository Institution Holding
                                     Company itself deploys any portion
                                     of the CDFI ERP Award, the
                                     Depository Institution Holding
                                     Company must submit a Performance
                                     Progress Report.
------------------------------------------------------------------------

    The CDFI Fund may also collect data that will enable the Secretary 
of the Treasury to conduct a study of the impact of the CDFI ERP. 
Reporting requirements will be outlined in the final CDFI ERP 
Assistance Agreement and may include reporting beneficiary demographic 
data pertaining to borrowers and/or beneficiaries. The CDFI Fund 
intends to require Recipients to collect and report data on the race 
and ethnicity of borrowers and/or beneficiaries of the program. Final 
requirements will be outlined in the Assistance Agreement and required 
reports in Table 9, as applicable. Section 523(d) of the Authorizing 
Statute allows a CDFI that receives a CDFI ERP Award to collect such 
data, notwithstanding any limitations under the Equal Credit 
Opportunity Act (15 U.S.C. 1691 et seq.) and without any adverse action 
related to that collection by the Consumer Financial Protection Bureau 
or any other federal agency. Recipients may use a portion of their 
Award, under the seven operational support eligible activity categories 
outlined in Section II.D of this NOFA, to fund data collection and 
reporting activities. Reporting requirements may be added or modified 
at any time at the discretion of the CDFI Fund.
---------------------------------------------------------------------------

    \13\ Personally Identifiable Information (PII) is information, 
which if lost, compromised, or disclosed without authorization, 
could result in substantial harm, embarrassment, inconvenience, or 
unfairness to an individual. Although Applicants are required to 
enter addresses of individual borrowers in AMIS, Applicants should 
not include the following PII for the individuals who received the 
Financial Products or Financial Services in AMIS or in the 
supporting documentation (i.e., name of the individual, Social 
Security Number, driver's license or state identification number, 
passport number, Alien Registration Number, etc.). This information 
should be redacted from all supporting documentation.
---------------------------------------------------------------------------

    Each Recipient is responsible for the timely and complete 
submission of the Annual Reporting Requirements. The CDFI Fund reserves 
the right to contact the Recipient and additional entities or 
signatories to the Assistance Agreement to request additional 
information and/or documentation. The CDFI Fund will use such 
information to monitor each Recipient's compliance with the 
requirements of the Assistance Agreement and to assess the impact of 
the CDFI ERP. The CDFI Fund reserves the right, in its sole discretion, 
to modify these reporting requirements, including increasing the scope 
and frequency of reporting, if it determines it to be appropriate and 
necessary; however, such reporting requirements will be modified only 
after notice to Recipients.
    2. Financial Management and Accounting: The CDFI Fund will require 
Recipients to maintain financial management and accounting systems that 
comply with federal statutes, regulations, and the terms and conditions 
of the federal award. These systems must be sufficient to permit the 
preparation of reports required by the CDFI Fund to ensure compliance 
with the terms and conditions of the CDFI ERP, including the tracing of 
funds to a level of expenditures adequate to establish that such funds 
have been used in accordance with federal statutes, regulations, and 
the Assistance Agreement.
    The cost principles used by Recipients must be consistent with 
federal cost principles and support the accumulation of costs as 
required by the principles, and must provide for adequate documentation 
to support costs charged to the CDFI ERP Award. In addition, the CDFI 
Fund will require Recipients to maintain effective internal controls; 
comply with applicable statutes, regulations, and the Assistance 
Agreement; evaluate and monitor

[[Page 37927]]

compliance; take appropriate action when not in compliance; and 
safeguard personally identifiable information.

VII. Agency Contacts

    A. Contact Information: The CDFI Fund will respond to questions 
concerning this NOFA and the Application between the hours of 9:00 a.m. 
and 5:00 p.m. Eastern Time, starting on the date that the NOFA is 
published through the dates listed in Table 1 and Table 6. The CDFI 
Fund strongly recommends Applicants submit questions to the CDFI Fund 
via an AMIS Service Request to the CDFI ERP, Office of Certification 
Policy and Evaluation, Office of Compliance Monitoring and Evaluation, 
or IT Help Desk. The CDFI Fund will post on its website information to 
clarify the NOFA and Application. Other information regarding the CDFI 
Fund and its programs may be obtained from the CDFI Fund's website at 
http://www.cdfifund.gov. Table 10 lists CDFI Fund contact information:

                                          Table 10--Contact Information
----------------------------------------------------------------------------------------------------------------
                                                               Telephone No.
          Type of question              Preferred method      (not toll free)            Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI ERP Questions.................  Service Request via          202-653-0421  <a href="/cdn-cgi/l/email-protection#3d584f4d7d5e595b5413494f585c4e135a524b"><span class="__cf_email__" data-cfemail="64011614240700020d4a10160105174a030b12">[email protected]</span></a>.
                                      AMIS.
CDFI Certification.................  Service Request via          202-653-0423  <a href="/cdn-cgi/l/email-protection#97f4f4faf2d7f4f3f1feb9e3e5f2f6e4b9f0f8e1"><span class="__cf_email__" data-cfemail="6407070901240700020d4a10160105174a030b12">[email protected]</span></a>.
                                      AMIS.
Compliance Monitoring and            Service Request via          202-653-0423  <a href="/cdn-cgi/l/email-protection#f99a9a949cb99a9d9f90d78d8b9c988ad79e968f"><span class="__cf_email__" data-cfemail="5033333d3510333436397e24223531237e373f26">[email protected]</span></a>.
 Evaluation.                          AMIS.
AMIS--IT Help Desk.................  Service Request via          202-653-0422  <a href="/cdn-cgi/l/email-protection#5415191d07143730323d7a20263135277a333b22"><span class="__cf_email__" data-cfemail="57161a1e04173433313e79232532362479303821">[email protected]</span></a>.
                                      AMIS.
----------------------------------------------------------------------------------------------------------------

    B. Information Technology Support: For IT assistance, the preferred 
method of contact is to submit a Service Request within AMIS. For the 
Service Request, select ``Technical Issues'' from the Program dropdown 
menu of the Service Request. People who have visual or mobility 
impairments that prevent them from using the CDFI Fund's website should 
call (202) 653-0422 for assistance (this is not a toll-free number).
    C. Communication with the CDFI Fund: The CDFI Fund will use the 
contact information in AMIS to communicate with Applicants and 
Recipients. It is imperative, therefore, that Applicants, Recipients, 
Subsidiaries, Affiliates, and signatories maintain accurate contact 
information in their accounts. This includes information such as 
contact names (especially for the Authorized Representative), email 
addresses, fax and phone numbers, and office locations.
    D. 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 discrimination prohibited by federal civil rights laws or 
regulations. 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 anyone 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 Director, Office of 
Civil Rights and Diversity, U.S. Department of the Treasury, 
Departmental Offices, 1500 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 CDFI ERP to ensure that federal funding is 
expended and associated programs are implemented in full accordance 
with the U.S. Constitution, federal law, and public policy 
requirements, including, but not limited to, those protecting free 
speech, religious liberty, public welfare, the environment, and 
prohibiting discrimination.

VIII. Other Information

    A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44 
U.S.C. chapter 35), an agency may not conduct or sponsor a collection 
of information, and an individual is not required to respond to a 
collection of information, unless it displays a valid OMB control 
number. If applicable, the CDFI Fund may inform Applicants that they do 
not need to provide certain Application information otherwise required. 
Pursuant to the Paperwork Reduction Act, the CDFI ERP Application has 
been assigned the following control number: 1559-0052.
    B. Application Information Sessions: The CDFI Fund may conduct 
webinars or host information sessions for organizations that are 
considering applying to, or are interested in learning about, the CDFI 
Fund's programs. For further information, visit the CDFI Fund's website 
at http://www.cdfifund.gov.
    Authority: Pub. L. 116-260; 12 U.S.C. 4701, et seq.; 12 CFR parts 
1805 and 1815; 2 CFR part 200.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2022-13452 Filed 6-23-22; 8:45 am]
BILLING CODE 4810-05-P


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