Federal Register / Vol. 75, No. 193 / Wednesday, October 6, 2010 / Notices 61843 

opt out of their institutions’ affiliate 

marketing practices. Respondent entities 

will use the opt out notices to manage 

their affiliate marketing practices 

appropriately. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Businesses or other 

for-profit. 

Estimated Number of Respondents: 

193,479. 

Estimated Frequency of Response: On 

occasion. 

Estimated Total Burden: 25,834 

hours. 

Dated: October 1, 2010. 

Ira L. Mills, 

Paperwork Clearance Officer, Office of Chief 

Counsel, Office of Thrift Supervision. 

[FR Doc. 2010–25169 Filed 10–5–10; 8:45 am] 

BILLING CODE 6720–01–P 

DEPARTMENT OF THE TREASURY 

Community Development Financial 

Institutions Fund 

Funding Opportunity Title: Notice of 

Funds Availability (NOFA) Inviting 

Applications for the Community 

Development Financial Institutions 

(CDFI) Program FY 2011 Funding 

Round (the FY 2011 Funding Round) 

Announcement Type: Announcement 

of funding opportunity. 

Catalog of Federal Domestic 

Assistance (CFDA) Number: 21.020. 

DATES: Applications for Financial 

Assistance (FA) or Technical Assistance 

(TA) awards through the FY 2011 

Funding Round must be received by 

midnight, Eastern Time (ET), November 

19, 2010. 

Executive Summary: Subject to 

funding availability, this NOFA is 

issued in connection with the FY 2011 

Funding Round. The Community 

Development Financial Institutions 

(CDFI) Fund administers the CDFI 

Program. 

I. Funding Opportunity Description 

A. Award Requirements 

Through the CDFI Program, the CDFI 

Fund provides FA awards and TA 

grants. FA awards are made to certified 

CDFIs that meet the requirements set 

forth in this NOFA, subject to funding 

availability. In FY 2011, the CDFI Fund 

will also make FA awards under the 

Healthy Food Financing Initiative 

(HFFI) to certified CDFIs that meet the 

requirements set forth in this NOFA, 

subject to funding availability. TA 

grants are made to certified CDFIs and 

entities proposing to become certified 

that complete and submit Part III of the 

CDFI Program funding application and 

meet the requirements set forth in this 

NOFA, subject to funding availability. 

B. Program Regulations 

The regulations governing the CDFI 

Program are found at 12 CFR Parts 1805 

and 1815 (the Regulations) and provide 

guidance on evaluation criteria and 

other requirements of the CDFI Program. 

Detailed application content 

requirements are found in the CDFI 

Program application and related 

materials. Each capitalized term in this 

NOFA is more fully defined in this 

NOFA, the Regulations, or the 

application, and the CDFI Fund 

encourages Applicants to review the 

Regulations in addition to this NOFA. 

C. The CDFI Fund reserves the right 

to fund, in whole or in part, any, all, or 

none of the applications submitted in 

response to this NOFA. The CDFI Fund 

reserves the right to reallocate funds 

from the amount that is anticipated to 

be available under this NOFA to other 

CDFI Fund programs, particularly if the 

CDFI Fund determines that the number 

of awards made under this NOFA is 

fewer than projected. In addition, the 

CDFI Fund invites applications that 

propose innovative Financial Products 

and Financial Services to address the 

current difficult economic conditions of 

our nation. 

II. Award Information 

A. Funding Availability 

1. FY 2011 Funding Round: Subject to 

funding availability, the CDFI Fund 

expects to award, through this NOFA, 

approximately $135 million in 

appropriated funds in the following 

ways: (i) $25 million in FA awards to 

Category I/SECA Applicants; (ii) $82 

million in FA awards to Category II/ 

Core Applicants; (iii) $25 million in FA 

awards to HFFI Applicants; and (vi) $3 

million in TA grants to TA Applicants. 

The CDFI Fund reserves the right to 

award more or less than the amounts 

cited above in each category in the FY 

2011 Funding Round, provided that the 

funds are available and the CDFI Fund 

deems it appropriate. 

2. Availability of Funds for the FY 

2011 Funding Round: Funds for the FY 

2011 Funding Round have not yet been 

appropriated. If funds are not 

appropriated, there will not be a FY 

2011 Funding Round. If funds are 

appropriated, the amount of such funds 

may be greater or less than the amounts 

set forth above. If funds for the FY 2011 

Funding Round for the Native American 

CDFI Assistance (NACA) Program are 

not appropriated, entities eligible to 

apply for CDFI Program funds that 

would have applied for NACA Program 

funding, are encouraged to apply for 

CDFI Program funds through this 

NOFA. 

B. Types of Awards 

An Applicant may submit an 

application for either: (i) A FA award 

(including a HFFI–FA award) or (ii) TA 

grant. Applicants applying for HFFI–FA 

awards must apply for both a FA award 

(by submitting Part II of the application) 

and an HFFI–FA award by submitting a 

HFFI questionnaire which will be sent 

to only those applicants indicating they 

are interested in applying for HFFI 

funding. The CDFI Fund will send the 

HFFI questionnaire to such applicants 

no later than December 1, 2010. The 

CDFI Fund reserves the right to award 

such applicants a FA award, a HFFI–FA 

award, both a FA and HFFI–FA award, 

or no award. 

1. FA Awards: FA awards provide 

flexible financial support to CDFIs so 

they may achieve the strategies outlined 

in their Comprehensive Business Plans. 

FA awards can be used in the following 

five categories: (i) Financial Products; 

(ii) Financial Services; (iii) Development 

Services; (iv) Loan Loss Reserves and 

Capital Reserves; and/or (v) Operations. 

For purposes of this NOFA, the five 

categories mean: 

TABLE 1—FIVE CATEGORIES OF FA 

(i) Financial Products .......................................... Loans, grants, equity investments, and similar financing activities, including the purchase of 

loans that the Applicant originates and the provision of loan guarantees, in the Applicant’s 

Target Market, or for related purposes that the CDFI Fund deems appropriate (including administrative funds used to carry out Financial Products). 

(ii) Financial Services ......................................... Checking and savings accounts, certified checks, automated teller machines services, deposit 

taking, remittances, safe deposit box services, and other similar services (including administrative funds used to carry out Financial Services). 

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TABLE 1—FIVE CATEGORIES OF FA—Continued 

(iii) Development Services .................................. Activities that promote community development and help the Applicant provide its Financial 

Products and Financial Services, including financial or credit counseling, housing and homeownership counseling (pre- and post-), self-employment technical assistance, entrepreneurship training, and financial management skill-building (including administrative funds used to 

carry out Development Services). 

(iv) Loan Loss Reserves ..................................... Funds set aside in the form of cash reserves, or through accounting-based accrual reserves, 

to cover losses on loans, accounts, and notes receivable made in the Target Market, or for 

related purposes that the CDFI Fund deems appropriate (including administrative funds 

used to carry out Loan Loss Reserves). 

(v) Capital Reserves ........................................... Funds set aside as reserves to support the Applicant’s ability to leverage other capital, for 

such purposes as increasing its net assets or serving the financing needs of its Target Market, or for related purposes that the CDFI Fund deems appropriate (including administrative 

funds used to carry out Capital Reserves). 

(vi) Operations .................................................... Funds used to carry out the Comprehensive Business Plan, and/or for related purposes the 

CDFI Fund deems appropriate, that are not used to carry out or administer any of the foregoing eligible FA uses. 

The CDFI Fund may provide FA 

awards in the form of equity 

investments (including secondary 

capital in the case of certain Insured 

Credit Unions), grants, loans, deposits, 

credit union shares, or any combination 

thereof. The CDFI Fund reserves the 

right, in its sole discretion, to provide a 

FA award in a form and amount other 

than that which the Applicant requests; 

however, the award amount will not 

exceed the Applicant’s award request as 

stated in its application. FA awards 

must be used to support the Applicant’s 

activities; FA awards cannot be used to 

support the activities of, or otherwise be 

passed through, transferred, or coawarded to, third-party entities, whether 

Affiliates, Subsidiaries, or others. 

2. Healthy Food Financing Initiative 

(HFFI): 

(a) Overview. The HFFI represents the 

Federal government’s first coordinated 

step to eliminate food deserts—urban 

and rural areas in the United States with 

limited access to affordable and 

nutritious food, particularly areas 

composed of predominantly lowerincome neighborhoods and 

communities—by promoting a wide 

range of interventions that expand the 

supply of and demand for nutritious 

foods, including increasing the 

distribution of agricultural products; 

developing and equipping grocery stores 

and strengthening the producer-toconsumer relationship. Importantly, the 

HFFI also seeks to support the 

elimination of food deserts in the 

context of the broader neighborhood 

revitalization efforts of a community. 

In addition to the CDFI Program, the 

HFFI includes: (i) The New Markets Tax 

Credit (NMTC) Program, also 

administered by the CDFI Fund; (ii) the 

Community and Economic Development 

(CED) Program, which the Department 

of Health and Human Services (HHS) 

administers; and (iii) several programs 

that the Department of Agriculture 

(USDA) administers including, among 

others, the Business and Industry (B&I) 

Program and the Intermediary 

Relending Program (IRP). 

Each of the above-listed programs 

provides a unique mechanism to 

support initiatives aimed at increasing 

access to healthy food. When these 

programs are combined, public dollars 

can act far more effectively as a market 

catalyst by providing the full range of 

financing to local actors—a key step to 

addressing the problem of limited 

access to affordable and nutritious food. 

Instead of approaching this problem 

through separate agency and program 

silos, the HFFI will use a collaborative 

approach involving the resources of all 

three agencies. 

Together, USDA, Treasury and HHS 

have created the Healthy Food 

Financing Working Group (Working 

Group), comprising senior policy 

officials and program staff from each 

agency. USDA chairs the HFFI Working 

Group and will coordinate the 

solicitations, applications, review and 

award processes, and public events, as 

well as mechanisms to track annual 

investment performance to clearly 

demonstrate progress toward 

eliminating food deserts in seven years 

and other stated HFFI goals. 

Departments will review applications 

separately, but incorporate HFFIspecific criteria into the selection 

process to ensure agencies evaluate 

applications using common standards, 

such as community need, quality of 

strategies, and capacity to execute plans. 

While each agency will retain the 

authority to make final funding 

decisions for its programs, participating 

agencies will consult with each other 

during the review process and prior to 

HFFI awards being made under any 

given program. In addition, where 

appropriate and consistent with existing 

statutes, special funding consideration 

will be given to organizations intending 

to use (either directly or through 

partnerships) multiple sources of HFFI 

funding. In this manner, a community 

can benefit from tax credits, grants, 

loans, guarantees, and technical 

assistance for a project or suite of 

projects that collectively address the 

goals of this initiative. This working 

group will also seek to coordinate with 

the Administration’s Neighborhood 

Revitalization Working Group (which 

includes HUD, ED, HHS, DOJ, and 

Treasury) in an effort to help amplify 

the neighborhood and revitalization 

connections that can be derived from 

HFFI activities. For more information 

about the Neighborhood Revitalization 

Working Group, please visit the 

following Web site: http:// 

www.whitehouse.gov/sites/default/files/ 

nri_description.pdf. 

The HFFI has specific outcome 

targets—the most important of which is 

measurably reducing the number of food 

deserts through a concerted, multi-year, 

performance-driven effort. In addition 

HFFI is part of a larger effort to create 

quality jobs and promote 

comprehensive community 

development strategies to revitalize 

distressed neighborhoods into healthy 

and vibrant communities of 

opportunity. As such, HFFI should be 

viewed as a resource that communities 

can use to help implement a key 

element of their broader neighborhood 

revitalization strategies—namely, access 

to healthy food. Applicants are 

encouraged to consider and pursue 

linkages not only to other HFFI 

component programs but also to other 

community development programs in 

areas such as housing, education, 

economic development, public safety 

and access to health services. 

Agencies will stay engaged with HFFI 

awardees as projects move forward. The 

Working Group will develop reporting 

requirements specifically for HFFI 

awardees that will chart the annual 

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progress awardees have made toward 

achieving the goal of eliminating food 

deserts in seven years, and other key 

data points for end outcomes (such as 

access, job creation and quality, 

commodity sales, and community 

health) as well as interim ones (such as 

amount of funding leveraged and 

business performance). 

(b) HFFI–FA Awards. In FY 2011, 

subject to appropriations, the CDFI 

Fund plans to award up to $25 million 

of FA awards through the HFFI. The 

CDFI Fund expects to make HFFI–FA 

awards of up to $5 million or larger to 

certified CDFIs that submit and 

complete Parts II and a HFFI 

questionnaire, which will be sent to 

only those applicants indicating on their 

FY 2011 FA application that they will 

be applying for an HFFI award. The 

CDFI Fund reserves the right to make 

awards less than or greater than $5 

million based upon the questionnaires 

received and the funds available. The 

HFFI questionnaire will be sent to those 

applicants on or about December 1, 

2010. The questionnaire will have a 

series of questions and responses will be 

limited to a specific page length. The 

maximum amount per award will 

depend on Congressional 

appropriations, as well as authorization 

to exceed award caps as described in 

Section III. B.1. of this NOFA. 

HFFI Applicants will be eligible for a 

HFFI–FA award for this initiative or a 

combination of a FA award and a HFFI– 

FA award. HFFI Applicants must 

receive a minimum score in Part II of 

the CDFI Program Application in order 

to be considered for an HFFI award, and 

then will be rated and scored separately 

based upon the HFFI questionnaire 

responses. HFFI Applicants will be 

rated, among other elements, on the 

extent of community need, the quality 

of their HFFI strategy, and their capacity 

to execute their HFFI strategy. The CDFI 

Fund will collaborate with the other 

Federal agencies involved in the HFFI 

prior to making final award selections. 

The CDFI Fund may, at its discretion, 

perform additional due diligence on 

Applicants for this initiative. HFFI–FA 

awards must be used to support the 

Applicant’s activities; the awards 

cannot be used to support the activities 

of, or otherwise be passed through, 

transferred, or co-awarded to, thirdparty entities, whether Affiliates, 

Subsidiaries, or others. The CDFI Fund 

reserves the right to limit the portion of 

HFFI–FA awards that may be applied to 

Capital Reserves or Operations uses. 

3. TA Grants: 

(a) The CDFI Fund provides TA as a 

grant and reserves the right, in its sole 

discretion, to provide a grant for uses 

and amounts other than that which the 

Applicant requests; however, the grant 

amount will not exceed the Applicant’s 

request as stated in its application and 

the applicable budget chart. 

(b) For purposes of this NOFA, TA 

eligible uses are: (i) Personnel/salary; 

(ii) personnel/fringe; (iii) professional 

services; (iv) travel; (v) training; (vi) 

equipment; (vii) materials/supplies; and 

(viii) other. (Please see the CDFI 

Program Application, Part III for details 

of TA uses.) TA awards must be used to 

support the Applicant’s capacity 

building activities. TA awards cannot be 

used to support the activities of, or 

otherwise be passed through, 

transferred, or co-awarded to, thirdparty entities, whether Affiliates, 

Subsidiaries, or others. 

C. Assistance Agreement: Each 

Awardee under this NOFA must sign an 

Assistance Agreement before the CDFI 

Fund will disburse an award or grant. 

The Assistance Agreement contains the 

terms and conditions of the award. For 

further information, see Section VI.A of 

this NOFA. 

III. Eligibility Information 

A. Eligible Applicants 

The Regulations specify the eligibility 

requirements each Applicant must meet 

in order to be eligible to apply for 

assistance under this NOFA. Applicants 

may apply as either a FA applicant or 

a TA applicant, but not both. If an 

Applicant applies for both, the CDFI 

Fund reserves the right to disqualify the 

Applicant from competing for either a 

FA or a TA award or to decide to give 

the Applicant either a FA award or a TA 

grant. 

1. FA Applicant Categories: All FA 

Applicants must meet the criteria for 

one of the following two categories 

listed in Table 2. (Any Applicant 

requesting FA funding in excess of the 

allowable amount for Category I will be 

classified as a Category II Applicant, 

regardless of its total assets, years in 

operation, or prior CDFI Fund awards.) 

TABLE 2—FA APPLICANT CRITERIA

FA applicant category Applicant criteria Applicant may apply for: 

Category I/Small and/or Emerging CDFI 

Assistance (SECA).

(1) Is a Certified/Certifiable CDFI; Up to and including $600,000 in FA 

funds. 

(2) As of the end of the Applicant’s most recent fiscal year 

end or September 30, 2010, has total assets as follows: 

• Insured Depository Institutions and Depository Institution 

Holding Companies: up to $250 million 

• Insured Credit Unions: up to $10 million; 

• Venture capital funds: up to $10 million; 

• Other CDFIs: up to $5 million; OR 

(3) Began operations* on or after January 1, 2007. 

Category II/Core/HFFI ............................. A Certified/Certifiable CDFI that meets all other eligibility requirements described in this NOFA. Up to and including $2 million in FA 

funds; and up to and $5 million or 

more in FA funds under the HFFI. 

* The term ‘‘began operations’’ is defined as the financing activity start date indicated in the Applicant’s myCDFIFund account. 

2. TA Applicants: All TA Applicants 

must meet the following criteria: 

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TABLE 3—TA APPLICANT CRITERIA

Applicant type Criteria of applicant Applicant can apply 

for: 

TA .......................................... A Certified CDFI, a Certifiable CDFI, or an Emerging CDFI .............................................. Up to $100,000 in TA 

funds. 

3. CDFI Certification Requirements: 

For purposes of this NOFA, eligible FA 

Applicants include Certified CDFIs and 

Certifiable CDFIs; eligible TA 

Applicants include Certified CDFIs, 

Certifiable CDFIs, and Emerging CDFIs, 

defined as follows: 

(a) Certified CDFIs: A Certified CDFI 

is an entity that has received official 

notification from the CDFI Fund that it 

meets all CDFI certification 

requirements as of this NOFA’s 

publication date. CDFIs that have 

received official notification from the 

CDFI Fund that their certification has 

expired or been terminated are not 

eligible to apply as Certified CDFIs. In 

cases where the CDFI Fund provided 

certified CDFIs with written notification 

that their certifications had been 

extended, the CDFI Fund will consider 

the extended certification dates to 

determine whether those certified CDFIs 

meet this eligibility requirement. 

Certified Applicants must submit a 

Certification of Material Events form if 

they have experienced a material event. 

A ‘‘material event’’ is an occurrence that 

affects an organization’s strategic 

direction, mission, or business 

operation and, thereby, its status as a 

Certified CDFI and/or its compliance 

with the terms and conditions of an 

Assistance Agreement. Please see 

Section IV in this NOFA for deadlines 

to submit certification application and 

material events forms. The material 

events form can be found on the CDFI 

Fund’s Web site at http:// 

www.cdfifund.gov. 

(b) Certifiable CDFIs: A Certifiable 

CDFI is an entity that has submitted an 

application to the CDFI Fund 

demonstrating that it meets the CDFI 

certification requirements but the CDFI 

Fund has not yet officially certified the 

entity. If the CDFI Fund is unable to 

certify an Applicant and the Applicant 

is selected for a FA award, the CDFI 

Fund may, in its sole discretion, 

terminate the award commitment. The 

CDFI Fund will not enter into an 

Assistance Agreement or disburse FA 

award funds unless and until an 

Applicant is a Certified CDFI. The CDFI 

Certification application can be found 

on the CDFI Fund’s Web site at http:// 

www.cdfifund.gov. 

(c) Emerging CDFIs: An Emerging 

CDFI is an entity that demonstrates to 

the CDFI Fund it has an acceptable plan 

to become a Certified CDFI by December 

31, 2013, or another date selected by the 

CDFI Fund. Emerging CDFIs may only 

apply for TA grants; they are not eligible 

to apply for FA awards. Each Emerging 

CDFI that is selected to receive a TA 

grant will be required, pursuant to its 

Assistance Agreement with the CDFI 

Fund, to become certified as a CDFI by 

a specified date. 

4. Limitation on Awards: An 

Applicant may receive only one award 

through the FY 2011 CDFI Program 

Funding Round or the FY 2011 NACA 

Funding Round. An Applicant may also 

receive a FY 2011 Bank Enterprise 

Award (BEA) Program award for any 

activities not funded by a CDFI Program 

award. A CDFI Program Applicant, its 

Subsidiaries, or Affiliates may also 

apply for and receive a tax credit 

allocation (referred to in this NOFA as 

an Allocatee) through the New Markets 

Tax Credit (NMTC) Program, but only to 

the extent that the activities approved 

for CDFI Program awards are different 

from those activities for which the 

Applicant or Allocatee receives a NMTC 

Program allocation. 

B. Prior Awardees 

For purposes of this section, the CDFI 

Fund will consider an Affiliate to be any 

entity that meets the definition of 

Affiliate in the Regulations or any entity 

otherwise identified as an Affiliate by 

the Applicant in its funding application 

and/or its myCDFI Fund account. Prior 

awardees should note the following: 

1. $5 Million Funding Cap: Congress 

waived the $5 million funding cap for 

the FY 2009 and the FY 2010 Funding 

Rounds, and it is possible that the $5 

million funding cap may be waived for 

the FY 2011 Funding Round. As of the 

publication date of this NOFA, however, 

such a waiver has not been enacted into 

law. Accordingly, the CDFI Fund is 

currently prohibited from obligating 

more than $5 million in assistance, in 

the aggregate, to any one organization 

and its Subsidiaries and Affiliates 

during any three-year period. In general, 

the three-year period calculated for the 

cap extends back three years from the 

Effective Date of the Assistance 

Agreement between the Awardee and 

the CDFI Fund. For purposes of this 

NOFA, the CDFI Fund will include any 

assistance in the cap that was/will be 

provided to an Applicant between July 

31, 2008 and July 31, 2011, the 

anticipated date the CDFI Fund expects 

to issue Assistance Agreements for the 

FY 2011 Funding Round. Since 

Congress may issue a waiver of the cap, 

Applicants that are eligible to receive 

awards under this NOFA but would 

exceed the $5 million funding cap if 

selected for a FY 2011 award, should 

submit an application under this NOFA. 

The CDFI Fund will assess the $5 

million funding cap applicability during 

the award selection phase if a 

Congressional waiver has not been 

enacted by that time. 

2. Failure to Meet Reporting 

Requirements: The CDFI Fund will not 

consider an Applicant’s application if 

the Applicant, or an Affiliate of the 

Applicant, is a prior Awardee/Allocatee 

under any CDFI Fund program and is 

not current on the reporting 

requirements set forth in a previously 

executed assistance, allocation, or 

award agreement(s), as of this NOFA’s 

application deadline. The CDFI Fund 

only acknowledges receipt of reports 

that are complete; incomplete reports or 

reports that are deficient of required 

elements will not be considered as 

having been received. 

3. Pending Resolution of 

Noncompliance: If the Applicant, or an 

Affiliate of the Applicant is a prior 

Awardee/Allocatee under any CDFI 

Fund program and if: (i) The entity has 

submitted reports to the CDFI Fund 

indicating noncompliance with a 

previously executed agreement with the 

CDFI Fund, and (ii) the CDFI Fund has 

yet to make a final determination as to 

whether the entity is in default of its 

previously executed agreement, it is in 

the CDFI Fund’s sole discretion to 

consider the Applicant’s application 

pending until full resolution of the 

noncompliance issue. 

4. Default Status: If an Applicant or 

Affiliate of the Applicant is a prior 

Awardee/Allocatee under any CDFI 

Fund program and is in default of a 

previously executed agreement with the 

CDFI Fund at the time that the 

application is due under this NOFA, the 

application will not be considered for 

funding. Such entities will be ineligible 

to apply for an award under this NOFA 

as long as the Applicant or an Affiliate 

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of the Applicant’s prior award or 

allocation remains in default status or 

such other time period as the CDFI 

Fund has specified in writing. 

5. Termination in Default: The CDFI 

Fund will not consider an application 

submitted by an Applicant, or an 

Affiliate of the Applicant that is a prior 

Awardee/Allocatee under any CDFI 

Fund program if the CDFI Fund made a 

final determination that the Awardee/ 

Allocatee’s prior award was terminated 

in default: (i) Within the 12-month 

period prior to this NOFA’s application 

deadline, and (ii) the final reporting 

period end date for the applicable 

terminated award falls within the 12- 

month period prior to this NOFA’s 

application deadline. 

6. Undisbursed Award Funds: The 

CDFI Fund will not consider an 

Applicant’s application if the Applicant 

or an Affiliate of the Applicant is a prior 

Awardee under any CDFI Fund program 

and has undisbursed award funds (as 

defined below) as of this NOFA’s 

application deadline. The CDFI Fund 

will include the combined undisbursed 

prior awards, as of this NOFA’s 

application deadline, of the Applicant 

and affiliated entities, including those 

in which the affiliated entity Controls 

the Applicant, is Controlled by the 

Applicant, or shares common 

management officials with the 

Applicant as determined by the CDFI 

Fund. 

For the BEA Program, undisbursed 

award funds will be included in the 

calculation of undisbursed awards for 

the Applicant (and any Affiliates) three 

to five calendar years prior to the end 

of the calendar year of this NOFA’s 

application deadline. Thus, for purposes 

of this NOFA, undisbursed awards 

made in FYs 2005, 2006, and 2007 will 

be included in the calculation for the 

Applicant’s undisbursed award amounts 

if the funds have not been disbursed as 

of this NOFA’s application deadline. 

The CDFI and NACA Programs’ 

undisbursed funds will be calculated by 

adding all undisbursed award amounts 

made to the Applicant (and any 

Affiliate(s)) two to five calendar years 

prior to the end of the calendar year of 

this NOFA. Therefore, undisbursed 

CDFI Program and NACA awards made 

in FYs 2005, 2006, 2007, and 2008 will 

be included in the undisbursed 

calculation as of this NOFA’s 

application deadline. 

Undisbursed awards can not exceed 

five percent of the total includable 

awards for the Applicant’s BEA/CDFI/ 

NACA awards, as of this NOFA’s 

application deadline. (The total 

‘‘includable’’ award amount is the total 

award amount from the relevant CDFI 

Fund program.) Please refer to an 

example of this calculation on the CDFI 

Fund’s Web site, found in the Q&A 

document for the FY 2011 Funding 

Round. 

The ‘‘undisbursed award funds’’ 

calculation does not include: (i) Tax 

credit allocation authority made 

available through the NMTC Program; 

(ii) award funds that the Awardee has 

requested from the CDFI Fund by 

submitting a full and complete 

disbursement request before this 

NOFA’s application deadline; (iii) 

award funds for an award that the CDFI 

Fund has terminated or de-obligated; or 

(iv) award funds for an award that does 

not have a fully executed assistance or 

award agreement. The CDFI Fund 

encourages Applicants to request their 

undisbursed funds from the CDFI Fund 

at least 10 business days prior to this 

NOFA’s application deadline. 

7. Contact the Fund: Applicants that 

are prior CDFI Fund Awardees are 

advised to: (i) Comply with 

requirements specified in assistance, 

allocation, and/or award agreement(s), 

and (ii) contact the CDFI Fund to ensure 

that all necessary actions are underway 

for the disbursement or de-obligation of 

any outstanding balance of prior 

award(s) as referenced above. An 

Applicant that is unsure about the 

disbursement status of any prior award 

should contact the CDFI Fund by 

sending an e-mail to 

CDFI.disburseinquiries@cdfi.treas.gov. 

8. Other Targeted Populations as 

Target Markets: Other Targeted 

Populations are defined as identifiable 

groups of individuals in the Applicant’s 

service area for which there exists 

strong evidence that they lack access to 

loans, equity investments, and/or 

Financial Services. The CDFI Fund has 

determined there is strong evidence that 

the following groups of individuals lack 

access to such products and services on 

a national level or within their 

recognized ancestral areas: (i) Native 

Americans or American Indians, 

including Alaska Natives living in 

Alaska; (ii) Blacks or African 

Americans; (iii) Hispanics or Latinos; 

(iv) Native Hawaiians living in Hawaii; 

and (v) other Pacific Islanders living in 

other Pacific Islands. An Applicant 

designating any of the above-cited Other 

Targeted Populations is not required to 

provide additional narrative explaining 

their lack of access to loans, equity 

investments, or Financial Services. To 

define these populations for the 

purposes of this NOFA, the CDFI Fund 

is using the following definitions, set 

forth in the Office of Management and 

Budget (OMB) Notice, Revisions to the 

Standards for the Classification of 

Federal Data on Race and Ethnicity 

(October 30, 1997), as amended and 

supplemented: (a) American Indian, 

Native American, or Alaska Native: A 

person having origins in any of the 

original peoples of North and South 

America (including Central America) 

and who maintains tribal affiliation or 

community attachment; (b) Black or 

African American: A person having 

origins in any of the black racial groups 

of Africa (terms such as Haitian or 

Negro can be used in addition to Black 

or African American); (c) Hispanic or 

Latino: A person of Cuban, Mexican, 

Puerto Rican, South or Central 

American, or other Spanish culture or 

origin, regardless of race (the term 

Spanish origin can be used in addition 

to Hispanic or Latino); (d) Native 

Hawaiian: A person having origins in 

any of the original peoples of Hawaii; 

and (e) Other Pacific Islander: a person 

having origins in any of the original 

peoples of Guam, Samoa or other Pacific 

Islands. 

C. Matching Funds 

Congress waived the matching funds 

requirements for the FY 2009 and FY 

2010 Funding Rounds, and it is possible 

that the matching funds requirements 

may be waived for the FY 2011 Funding 

Round. As of the publication date of this 

NOFA, however, such a waiver has not 

been enacted into law. Accordingly, the 

CDFI Fund encourages Applicants to 

include matching funds documentation 

as instructed in the application. If a 

matching funds waiver is enacted, the 

CDFI Fund will not consider matching 

funds documentation. An Applicant 

that does not include matching funds 

documentation in its application runs 

the risk of being determined to be 

ineligible for funding under the FY 2011 

Funding Round if a matching funds 

waiver is not enacted. In light of a 

possible matching funds requirement 

waiver, an Applicant that would not 

satisfy the matching funds requirements 

but is otherwise eligible under this 

NOFA should submit an application. 

The CDFI Fund will assess applicability 

of the matching funds requirements 

during the award selection phase if 

Congress has not enacted a waiver by 

that time. Accordingly, subject to the 

immediately preceding paragraph: 

1. FA Applicants must obtain nonFederal matching funds, on the basis of 

not less than one dollar for each dollar 

of FA funds the CDFI Fund provides. 

(This requirement pertains to FA 

Applicants only; matching funds are not 

required for TA Applicants). Matching 

funds must be comparable in form and 

value to the CDFI Fund’s FA award. For 

example, if an Applicant is requesting a 

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FA award, the Applicant must show it 

has obtained matching funds through 

commitment(s) from non-Federal 

sources that are equal to the amount 

requested from the CDFI Fund. 

Applicants cannot use matching funds 

from a prior FA award under the NACA 

or CDFI Program or under another 

Federal grant or award program to 

satisfy the matching funds requirement 

of this NOFA. If an Applicant seeks to 

use matching funds from an 

organization that was a prior Awardee 

under the NACA or CDFI Program, the 

CDFI Fund will deem such funds as 

Federal funds, unless the funding entity 

establishes and the CDFI Fund agrees, 

that such funds do not consist, in whole 

or in part, of NACA or CDFI Program 

funds or other Federal funds. The CDFI 

Fund encourages Applicants to review 

the Regulations at 12 CFR 1805.500 et 

seq. and matching funds guidance 

materials on the CDFI Fund’s Web site 

for further information. 

2. The CDFI Fund will not consider 

any FA Applicant for an award that has 

no matching funds in-hand or firmly 

committed as of this NOFA’s 

application deadline. Specifically, FA 

Applicants must meet the following 

matching funds requirements: 

(a) Category I/SECA Applicants: A 

Category I/SECA Applicant must 

demonstrate that it has eligible 

matching funds equal to no less than 25 

percent of the FA amount requested inhand or firmly committed, on or after 

January 1, 2009, and on or before the 

application deadline. The CDFI Fund 

reserves the right to rescind all or a 

portion of a FA award and re-allocate 

the rescinded award amount to other 

qualified Applicant(s), if an Applicant 

fails to obtain in-hand 100 percent of 

the required matching funds by March 

14, 2012 (with required documentation 

of such receipt received by the CDFI 

Fund not later than March 31, 2012), or 

to grant an extension of such matching 

funds deadline for specific Applicants 

selected to receive FA awards, if the 

CDFI Fund deems it appropriate. For 

any Applicant that demonstrates it has 

less than 100 percent of matching funds 

in-hand or firmly committed as of the 

application deadline, the CDFI Fund 

will evaluate the Applicant’s ability to 

raise the remaining matching funds by 

March 14, 2012. 

(b) Category II/Core Applicants: A 

Category II/Core Applicant must 

demonstrate that it has eligible 

matching funds equal to no less than 

100 percent of the amount of the FA 

award requested in-hand or firmly 

committed, on or after January 1, 2009 

and on or before the application 

deadline. The CDFI Fund reserves the 

right to rescind all or a portion of a FA 

award and re-allocate the rescinded 

award amount to other qualified 

Applicant(s), if an Applicant fails to 

obtain in-hand 100 percent of the 

required matching funds by March 14, 

2012 (with required documentation of 

such receipt received by the CDFI Fund 

not later than March 31, 2012), or to 

grant an extension of such matching 

funds deadline for specific Applicants 

selected to receive FA, if the CDFI Fund 

deems it appropriate. 

(c) HFFI Applicants: A HFFI 

Applicant must demonstrate that it has 

eligible matching funds equal to no less 

than 25 percent of the FA amount 

requested in-hand or firmly committed, 

on or after January 1, 2009, and on or 

before the deadline for the submitting 

the HFFI supplemental questionnaire. 

The CDFI Fund reserves the right to 

rescind all or a portion of a FA award 

and re-allocate the rescinded award 

amount to other qualified Applicant(s), 

if an Applicant fails to obtain in-hand 

100 percent of the required matching 

funds by March 14, 2012 (with required 

documentation of such receipt received 

by the CDFI Fund not later than March 

31, 2012), or to grant an extension of 

such matching funds deadline for 

specific Applicants selected to receive 

FA awards, if the CDFI Fund deems it 

appropriate. For any Applicant that 

demonstrates it has less than 100 

percent of matching funds in-hand or 

firmly committed as of the application 

deadline, the CDFI Fund will evaluate 

the Applicant’s ability to raise the 

remaining matching funds by March 14, 

2012. 

3. Matching Funds Terms Defined; 

Required Documentation: 

(a) ‘‘Matching funds in-hand’’ means 

the Applicant has actually received the 

matching funds. If the matching funds 

are in-hand, the Applicant must provide 

the CDFI Fund with acceptable written 

documentation of the source, form, and 

amount of the matching funds (i.e., 

grant, loan, deposit, and equity 

investment). Applicants must provide 

the CDFI Fund with copies of the 

following documentation depending on 

the type of award: (i) Loans—the loan 

agreement and promissory note; (ii) 

grant—the grant letter or agreement for 

all grants of $50,000 or more; (iii) equity 

investment—the stock certificate and 

any related shareholder agreement. 

Further, if the matching funds are inhand, the Applicant must provide the 

CDFI Fund with acceptable 

documentation that shows receipt of the 

matching funds, such as a copy of a 

check or a wire transfer statement. 

(b) ‘‘Firmly committed matching 

funds’’ means the Applicant has entered 

into or received a legally binding 

commitment from the matching funds 

source showing the matching funds will 

be disbursed to the Applicant. If the 

matching funds are firmly committed, 

the Applicant must provide the CDFI 

Fund with acceptable written 

documentation showing the source, 

form, and amount of the firm 

commitment (and, in the case of a loan, 

the terms thereof), as well as the 

anticipated date of disbursement of the 

committed funds. 

4. The CDFI Fund may contact the 

matching funds source to discuss the 

matching funds and the documentation 

that the Applicant has provided. If the 

CDFI Fund determines that any portion 

of the Applicant’s matching funds is 

ineligible under this NOFA, the CDFI 

Fund, in its sole discretion, may permit 

the Applicant to offer alternative 

matching funds as a substitute for the 

ineligible matching funds. In this case: 

(i) The Applicant must provide 

acceptable alternative matching funds 

documentation within two business 

days of the CDFI Fund’s request, and (ii) 

the alternative matching funds 

documentation cannot increase the total 

amount of FA the Applicant requested. 

5. Special Rule for Insured Credit 

Unions: The Regulations allow an 

Insured Credit Union to use retained 

earnings to serve as matching funds for 

a FA award in an amount equal to: (i) 

The increase in retained earnings that 

has occurred over the Applicant’s most 

recent fiscal year; (ii) the annual average 

of such increases that has occurred over 

the Applicant’s three most recent fiscal 

years; or (iii) the entire retained 

earnings that have been accumulated 

since the inception of the Applicant, as 

provided in the Regulations. For 

purposes of this NOFA, if option (iii) is 

used, the Applicant must increase its 

member and/or non-member shares or 

total loans outstanding by an amount 

equal to the amount of retained earnings 

committed as matching funds. This 

amount must be raised by the end of the 

Awardee’s second performance period, 

as set forth in its Assistance Agreement, 

and will be based on amounts reported 

in the Applicant’s Audited or Reviewed 

Financial Statements or NCUA Form 

5300 Call Report. The CDFI Fund will 

assess the likelihood of this increase 

during the application review process. 

An award will not be made to any 

Applicant that has not demonstrated in 

the relevant NCUA call report that it has 

increased shares or loans by at least 25 

percent of the requested FA award 

amount between December 31, 2009, 

and December 31, 2010. 

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IV. Application And Submission 

Information 

A. Application Submission 

Under this NOFA, all Applicants 

must submit their applications 

electronically through Grants.gov. The 

CDFI Fund will not accept applications 

through myCDFIFund accounts nor will 

applications be accepted via e-mail, 

mail, facsimile, or other forms of 

communication, except in 

circumstances approved by the CDFI 

Fund beforehand. 

B. Grants.gov 

In compliance with Public Law 106– 

107 and Section 5(a) of the Federal 

Financial Assistance Management 

Improvement Act, the CDFI Fund is 

required to accept applications 

submitted through the Grants.gov 

electronic system. The CDFI Fund 

strongly recommends Applicants start 

the registration process as soon as 

possible and visit http://www.grants.gov 

immediately. Applicants that have used 

Grants.gov in the past must verify that 

their registration is current and active. 

New applicants must properly register, 

which can take weeks to complete. 

Pursuant to OMB guidance (68 FR 

38402), each Applicant must provide, as 

part of its application submission, a Dun 

and Bradstreet Data Universal 

Numbering System (DUNS) number. In 

addition, each application must include 

a valid and current Employer 

Identification Number (EIN). An 

electronic application that does not 

include either a DUNS or an EIN is 

incomplete and runs the risk of not 

being transmitted to the CDFI Fund 

from Grants.gov. As a result, Applicants 

without a DUNS or EIN should allow 

sufficient time for the IRS and/or Dun 

and Bradstreet to respond to inquiries 

and/or requests for identification 

numbers. 

The CDFI Fund will not consider 

Applicants that fail to properly register 

in Grants.gov or to confirm they are 

properly registered. The CDFI Fund will 

not accept applications from Applicants 

that are not properly registered in 

Grants.gov and therefore, unable to 

submit their application before the 

deadline. Also, Applicants are reminded 

that the CDFI Fund does not maintain 

the Grants.gov registration or submittal 

process so Applicants must contact 

Grants.gov directly for issues related to 

that aspect of the application 

submission process. Please see the 

following link for information on getting 

started on Grants.gov: http://grants.gov/ 

assets/GrantsgovCoBrandBrochure

8X11.pdf. 

C. MyCDFIFund Accounts 

MyCDFIFund is the CDFI Fund’s 

primary means of communication with 

Applicants so it must be kept updated. 

All Applicants must register as an 

organization and as a user with 

myCDFIFund before the application 

deadline. Applicants that fail to 

properly register and update their 

myCDFIFund accounts run the risk of 

missing important communication with 

the CDFI Fund that could impact their 

application. For more information on 

myCDFIFund, please see the 

‘‘Frequently Asked Questions’’ link 

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

myCDFI/Help/Help.asp. 

D. Application Content Requirements 

The application and related 

documents can be found on the 

Grants.gov and the CDFI Fund’s Web 

sites. The CDFI Fund anticipates posting 

the application and related documents 

to the CDFI Fund’s Web site on the same 

day that the NOFA is released or shortly 

thereafter. Once an application is 

submitted, the Applicant will not be 

allowed to change any element of the 

application. The CDFI Fund, however, 

may contact the Applicant to clarify or 

confirm application information. 

E. 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. Pursuant to the 

Paperwork Reduction Act, the CDFI 

Program funding application has been 

assigned the following control number: 

1559–0021. 

F. Application Deadlines 

1. Please see Table 4 for critical 

deadlines that are relevant to the FY 

2011 Funding Round: 

TABLE 4—CDFI PROGRAM APPLICATION CRITICAL DATES

Description Date due Time 

Last day to contact Certification staff for assistance ............................................. October 20, 2010 .................................. 5:00 p.m. 

Certification application .......................................................................................... October 22, 2010 .................................. 5:00 p.m. 

Certification Material Events Form ......................................................................... October 22, 2010 .................................. 5:00 p.m. 

Last day to contact CDFI Program staff for assistance ........................................ November 17, 2010 .............................. 5:00 p.m. 

Last day to contact CDFI Compliance staff for assistance ................................... November 17, 2010 .............................. 5:00 p.m. 

FA Application (Part II of the application) .............................................................. November 19, 2010 .............................. midnight. 

TA Application (Part III of the application) ............................................................. November 19, 2010 .............................. midnight. 

Healthy Food Financing Initiative Questionnaire ................................................... To Be Determined ................................. To Be Determined. 

2. Late Delivery: The CDFI Fund will 

neither accept a late application nor any 

portion of an application that is late; an 

application that is late, or for which any 

portion is late, will be rejected. The 

CDFI Fund will not grant exceptions or 

waivers. Any application that is deemed 

ineligible or rejected will not be 

returned to the Applicant. 

G. Intergovernmental Review 

Not applicable. 

H. Funding Restrictions 

For allowable uses of FA proceeds, 

please see the Regulations at 12 CFR 

1805.301. 

V. Application Review Information 

A. Format 

Applicants must complete the 

application as provided in Grants.gov 

and the CDFI Fund’s Web sites. All 

applications must be single-spaced and 

use no smaller than an 11-point font. 

Each component in the application has 

page limitations. The CDFI Fund will 

read only information requested in the 

application and will not read 

attachments that have not been 

specifically requested in this NOFA or 

the application. Applicants should not 

submit documents like strategic plans or 

market studies unless the CDFI Fund 

has specifically requested such 

documents in the application. 

B. Review and Selection Process 

1. Eligibility and Completeness 

Review: The CDFI Fund will review 

each application to determine whether 

it is complete and the Applicant meets 

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the eligibility requirements described in 

Section III of this NOFA. An incomplete 

application or one that does not meet 

eligibility requirements will be rejected 

at this point. 

2. Substantive Review: If the 

Applicant has submitted a complete and 

eligible application, the CDFI Fund will 

conduct a substantive review in 

accordance with the criteria and 

procedures described in the 

Regulations, this NOFA, and the 

application. The CDFI Fund reserves the 

right to contact the Applicant by 

telephone, e-mail, mail, or through an 

on-site visit for the sole purpose of 

clarifying or confirming application 

information. If contacted, the Applicant 

must respond within the CDFI Fund’s 

time parameters or run the risk of being 

rejected. 

3. Application Scoring and Award 

Selection (FA and TA Applicants): 

(a) Application Scoring: The CDFI 

Fund will evaluate each application on 

the four criteria categories and the 

scoring scale described in the CDFI 

Program application. An Applicant 

must receive a minimum score in each 

evaluation criteria in order to be 

considered for an award. The CDFI 

Fund will score each part as indicated 

in the following table: 

TABLE 5—APPLICATION SCORING

CRITERIA

Application parts Scoring 

points 

Part II. Financial Assistance (FA) 

Applicants 

High Impact Narrative ................... 10 

Target Market Needs .................... **10 

Responsiveness to Target Market 

Needs ........................................ 40 

Delivery Capacity .......................... 40 

TOTAL POINTS .................... 100 

Part III. Technical Assistance (TA) 

Applicants 

Technical Assistance Proposal .... 20 

Target Market Needs .................... **10 

Responsiveness to Target Market 

Needs ........................................ 30 

Delivery Capacity .......................... 40 

TOTAL POINTS .................... 100 

**Includes up to 5 priority points based on 

distress criteria. 

(b) In the FY 2011 Funding Round, 

the CDFI Fund will allow Applicants to 

earn up to 5 extra priority points for 

serving eligible highly distressed Target 

Markets. Such markets are identified by 

a distress index based on county-level 

rankings of high poverty, home 

foreclosure rates, a high proportion of 

high cost mortgages (as defined in the 

Home Ownership and Equity Protection 

Act [HOEPA] of 1994), high 

unemployment rates and low median 

family income. Applicants can identify 

distressed markets by using the index, 

which identifies the most distressed 

counties with the highest rank number. 

The index is posted to the CDFI Fund’s 

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

distressindex. 

(c) Evaluating Prior Award 

Performance: Prior Awardees/Allocatees 

of any CDFI Fund program will be 

deducted points if the Applicant: (i) Is 

noncompliant with any active award or 

award that terminated in the current 

calendar year by failing to meet 

performance goals and measures, 

reporting deadlines, and other 

requirements set forth in the CDFI 

Fund’s assistance or award agreement(s) 

during the Applicant’s two complete 

fiscal years prior to this NOFA’s 

application deadline; (ii) failed to make 

timely loan payments to the CDFI Fund 

during the Applicant’s two complete 

fiscal years prior to this NOFA’s 

application deadline (if applicable); and 

(iii) did not perform on any prior 

assistance agreement, which is 

determined during the application 

review process. In addition, the CDFI 

Fund will deduct points if a FA 

Applicant had funds de-obligated for or 

from an FA award issued in FY 2008, 

2009 or 2010 if: (i) The amount of deobligated funds is at least $200,000 and 

(ii) the de-obligation occurred within 

the 12 months prior to this NOFA’s 

application deadline. Point deductions 

for a de-obligation in this funding round 

will not be counted against future FA 

applications. The CDFI Fund has the 

sole discretion to deduct points from 

prior Awardees/Allocates if those 

Applicants have proceedings instituted 

against them in, by, or before any court, 

governmental, agency, or administrative 

body and has received a final 

determination within the last three 

years indicating the Applicant has 

discriminated on the basis of race, color, 

national origin, disability, age, marital 

status, receipt of income from public 

assistance, religion, or sex. 

(d) Award Selection: The CDFI Fund 

will make its final award selections 

based on the Applicants’ scores, ranked 

from highest to lowest, and the amount 

of funds available. In the case of tied 

scores, Applicants will be ranked 

according to each Applicant’s 

Community Development Performance 

and Effective Use scores. TA 

Applicants, Category I, Category II, and 

HFFI Applicants will be grouped and 

ranked separately. In addition, the CDFI 

Fund may consider the institutional and 

geographic diversity of Applicants when 

making its funding decisions. 

4. Application Scoring and Award 

Selection (HFFI–FA Applicants). Only 

FA Applicants that complete and 

submit the HFFI questionnaire and that 

meet minimum established scoring 

thresholds under Part II of the 

application may be considered for a 

HFFI–FA award. Such Applicants will 

be separately scored based on the HFFI 

questionnaire. HFFI Applicants will be 

rated, among other elements, on the 

extent of community need, the quality 

of their HFFI strategy, and their capacity 

to execute their HFFI strategy. To the 

extent possible, based primarily on the 

number of applications received, HFFI 

questionnaires will be evaluated and 

scored by multiple reviewers. With 

respect to each HFFI questionnaire 

reviewed, the reviewer will give equal 

weight to all elements of the application 

questionnaire (i.e., each plan will be 

reviewed holistically—no one element 

will be weighted more heavily than any 

other element). HFFI–FA awards will 

generally be made in descending order 

of the total aggregate scores of the HFFI 

questionnaires until the HFFI 

appropriated dollars are expended. In 

the case of a tied HFFI ranking score, 

Applicants will be ranked according to 

their total aggregate score under Part II 

of the application. The CDFI Fund 

reserves the right not to fund an HFFI 

application if the CDFI Fund has 

concerns (e.g., based on the review and 

scoring of Part II of the application) 

about the Applicant’s capacity to 

implement its HFFI strategy. In 

addition, the CDFI Fund will consult 

with other Federal agencies 

participating in the HFFI prior to 

making its HFFI–FA awards. Finally, 

the CDFI Fund may consider the 

institutional and geographic diversity of 

Applicants when making its funding 

decisions. 

5. Insured CDFIs: In the case of 

Insured Depository Institutions and 

Insured Credit Unions, the CDFI Fund 

will consider the views of the 

Appropriate Federal Banking Agencies. 

Throughout the award review process, 

the CDFI Fund will consult with the 

Appropriate Federal Banking Agency 

about the Applicant’s financial safety 

and soundness. If the Appropriate 

Federal Banking Agency identifies 

safety and soundness concerns, the 

CDFI Fund will assess whether the 

concerns cause or will cause the 

Applicant to be incapable of 

undertaking the activities for which 

funding has been requested. If it is 

determined the Applicant is incapable 

of meeting its obligations, the CDFI 

Fund reserves the right to deselect the 

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Applicant from receiving an award. The 

CDFI Fund also reserves the right to 

require insured CDFI Applicants to 

improve safety and soundness 

conditions prior to receiving an award 

disbursement. In addition, the CDFI 

Fund will take into consideration 

Community Reinvestment Act 

assessments of Insured Depository 

Institutions and/or their Affiliates. 

6. Award Notification: Each Applicant 

will be informed of the CDFI Fund’s 

award decision through a notification in 

the Applicant’s myCDFIFund account. 

This includes notification to Applicants 

that have not been selected for an award 

if the decision is based on reasons other 

than completeness or eligibility. 

Applicants that have not been selected 

for an award will receive a debriefing in 

their myCDFIFund account. The CDFI 

Fund will provide this feedback in a 

format and within a timeframe 

depending on available resources. 

7. The CDFI Fund reserves the right 

to reject an application if information 

(including administrative errors) comes 

to the CDFI Fund’s attention that either 

adversely affects an Applicant’s 

eligibility for an award, adversely affects 

the CDFI Fund’s evaluation or scoring of 

an application, or indicates fraud or 

mismanagement on the Applicant’s part. 

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 the CDFI Fund’s Web 

site. The CDFI Fund’s award decisions 

are final and there is no right to appeal 

the decisions. 

VI. Award Administration Information 

Assistance Agreement: Each 

Applicant selected to receive an award 

under this NOFA must enter into an 

Assistance Agreement with the CDFI 

Fund in order to receive the award’s 

disbursement. The Assistance 

Agreement will set forth the award’s 

terms and conditions, including but not 

be limited to the award’s: (i) Amount; 

(ii) type; (iii) uses; (iv) eligible market to 

which the funded activity must be 

targeted; (v) performance goals and 

measures; and (vi) reporting 

requirements. Applicants should review 

the OMB Guidance: Requirements for 

Federal Funding Accountability and 

Transparency Act Implementation (75 

FR 55663) to ensure that they have 

processes and systems in place to 

comply with the reporting obligations. 

FA Assistance Agreements under this 

NOFA will usually have three-year 

performance periods; TA Assistance 

Agreements will usually have two-year 

performance periods. If prior to entering 

into an Assistance Agreement with the 

CDFI Fund, information (including 

administrative error) comes to the CDFI 

Fund’s attention that either adversely 

affects the Awardee’s eligibility for an 

award, or adversely affects the CDFI 

Fund’s evaluation of the Awardee’s 

application, or indicates fraud or 

mismanagement on the Awardee’s part, 

the CDFI Fund may, in its discretion 

and without advance notice to the 

Awardee, terminate the award or take 

such other actions as it deems 

appropriate. Moreover, if prior to 

entering into an Assistance Agreement, 

the CDFI Fund determines that the 

Awardee or an Affiliate of the Awardee 

is in default of any previously executed 

agreement with the CDFI Fund, the 

CDFI Fund may, in its discretion and 

without advance notice to the Awardee, 

either terminate the award or take such 

other actions as it deems appropriate. 

For purposes of this section, the CDFI 

Fund will consider an Affiliate to mean 

any entity that meets the definition of 

Affiliate in the Regulations. The CDFI 

Fund reserves the right, in its sole 

discretion, to rescind an award if the 

Awardee fails to return the Assistance 

Agreement, signed by the authorized 

representative of the Awardee, and/or 

provide the CDFI Fund with any other 

requested documentation, within the 

CDFI Fund’s deadlines. Each Awardee 

must provide the CDFI Fund with a 

good standing certificate (or equivalent 

documentation) from its state (or 

jurisdiction) of incorporation. 

1. Failure to Meet Reporting 

Requirements: If an Awardee or an 

Affiliate of the Awardee is a prior 

Awardee/Allocatee under any CDFI 

Fund program and is not current with 

the reporting requirements set forth in 

the previously executed agreement(s) 

with the CDFI Fund, the CDFI Fund 

reserves the right, in its sole discretion, 

to delay entering into an Assistance 

Agreement until the Awardee/Allocatee 

is current with the reporting 

requirements. Please note that the CDFI 

Fund only acknowledges the receipt of 

reports that are complete. As such, 

incomplete reports or reports that are 

deficient of required elements will not 

be recognized as having been received. 

If said prior Awardee/Allocatee is 

unable to meet this requirement within 

the timeframe the CDFI Fund sets, the 

CDFI Fund reserves the right, in its sole 

discretion, to terminate and rescind the 

Assistance Agreement and the award 

made under this NOFA. 

2. Pending Resolution of 

Noncompliance: If an Applicant is a 

prior Awardee or an Affiliate of the 

Awardee/Allocatee under any CDFI 

Fund program and if: (i) It has 

submitted reports to the CDFI Fund that 

demonstrate noncompliance with a 

previous executed agreement with the 

CDFI Fund; and (ii) the CDFI Fund has 

yet to make a final determination as to 

whether the entity is in default of its 

agreement, the CDFI Fund reserves the 

right, in its sole discretion, to delay 

entering into an Assistance Agreement, 

pending full resolution of the 

noncompliance issue to the CDFI Fund’s 

satisfaction. If the said prior Awardee/ 

Allocatee is unable to satisfactorily 

resolve the compliance issues, the CDFI 

Fund reserves the right, in its sole 

discretion, to terminate and rescind the 

Assistance Agreement and the award 

made under this NOFA. 

3. Default Status: If, at any time prior 

to entering into an Assistance 

Agreement through this NOFA, the 

CDFI Fund has made a final 

determination that an Awardee or an 

Affiliate of the Awardee that is a prior 

Awardee/Allocatee under any CDFI 

Fund program is in default of a 

previously executed assistance, 

allocation, or award agreement(s), the 

CDFI Fund reserves the right, in its sole 

discretion, to delay entering into an 

Assistance Agreement, until said prior 

Awardee/Allocatee has submitted a 

complete and timely report 

demonstrating full compliance within 

the CDFI Fund’s timeframe. If said prior 

Awardee/Allocatee is unable to meet 

this requirement and the CDFI Fund has 

not specified in writing that the prior 

Awardee/Allocatee is otherwise eligible 

to receive an Award under this NOFA, 

the CDFI Fund reserves the right, in its 

sole discretion, to terminate and rescind 

the Assistance Agreement and the 

award made under this NOFA. 

4. Termination in Default: The CDFI 

Fund reserves the right, in its sole 

discretion, to delay entering into or not 

to enter into an Assistance Agreement if: 

(i) Within the 12-month period prior to 

entering into an Assistance Agreement 

for this funding round, the CDFI Fund 

has made a final determination that a 

prior Awardee or an Affiliate of the 

Awardee under any CDFI Fund program 

whose award or allocation agreement 

was terminated in default, and (ii) the 

final reporting period end date for the 

applicable terminated agreement falls 

within the 12-month period prior to this 

NOFA’s application deadline. 

5. Compliance with Federal AntiDiscrimination Laws: If the Awardee has 

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61852 Federal Register / Vol. 75, No. 193 / Wednesday, October 6, 2010 / Notices 

previously received funding through 

any CDFI Fund program, and if at any 

time prior to entering into an Assistance 

Agreement through this NOFA, the 

CDFI Fund is made aware of a final 

determination, made within the last 

three years, in any proceeding instituted 

against the Awardee in, by, or before 

any court, governmental, or 

administrative body or agency, 

declaring that the Awardee has 

discriminated on the basis of race, color, 

national origin, disability, age, marital 

status, receipt of income from public 

assistance, religion, or sex, the CDFI 

Fund reserves the right, in its sole 

discretion, to terminate and rescind the 

Assistance Agreement and the award 

made under this NOFA. 

B. Reporting 

1. Reporting requirements: At least on 

an annual basis, the CDFI Fund will 

collect information from each Awardee 

including, but not limited to, an Annual 

Report with the following components: 

(i) Financial Reports (including an OMB 

A–133 audit); (ii) Institution Level 

Report; (iii) Transaction Level Report 

(for Awardees receiving FA awards); (iv) 

Financial Status Report form SF–269/ 

SF–425 (for Awardees receiving TA 

grants); (v) Uses of Financial Assistance 

(for Awardees receiving FA awards); (vi) 

Explanation of Noncompliance (as 

applicable); and (vii) such other 

information as the CDFI Fund may 

require. Each Awardee is responsible for 

the timely and complete submission of 

the Annual Report, even if all or a 

portion of the documents actually is 

completed by another entity or signatory 

to the Assistance Agreement. If such 

other entities or signatories are required 

to provide Institution Level Reports, 

Transaction Level Reports, Financial 

Reports, or other documentation that the 

CDFI Fund may require, the Awardee is 

responsible for ensuring that the 

information submitted is timely and 

complete. The CDFI Fund reserves the 

right to contact such additional entities 

or signatories to the Assistance 

Agreement and require that additional 

information and documentation be 

provided. The CDFI Fund will use such 

information to monitor each Awardee’s 

compliance with the requirements in 

the Assistance Agreement and to assess 

the impact of the CDFI Program. All 

reports must be electronically submitted 

to the CDFI Fund via the Awardee’s 

myCDFIFund account. The Institution 

Level Report and the Transaction Level 

Report must be submitted through the 

CDFI Fund’s web-based data collection 

system, the Community Investment 

Impact System (CIIS). The Financial 

Reports may be uploaded to the 

Awardee’s myCDFIFund account. All 

other components of the Annual Report 

may be submitted electronically, as the 

CDFI Fund directs. The CDFI Fund 

reserves the right, in its sole discretion, 

to modify these reporting requirements 

if it determines it to be appropriate and 

necessary; however, such reporting 

requirements will be modified only after 

notice to Awardees. 

2. Accounting: The CDFI Fund will 

require each FA and TA Awardee to 

account for and track the use of its 

award. This means that FA and TA 

Awardees must track every dollar and 

must inform the CDFI Fund of its uses. 

This will require Awardees to establish 

separate administrative and accounting 

controls, subject to the applicable OMB 

Circulars. The CDFI Fund will provide 

guidance on the format and content of 

the annual information to be provided, 

outlining and describing how the funds 

were used. All Awardees must provide 

the CDFI Fund with an accurate and 

completed Automated Clearinghouse 

(ACH) form prior to award closing and 

disbursement. 

VII. Agency Contacts 

A. The CDFI Fund will respond to 

questions and provide support 

concerning this NOFA and the funding 

application between the hours of 9 a.m. 

and 5 p.m. ET, starting on the date that 

the NOFA is published through three 

business days prior to the application 

deadline. During the three business days 

prior to the application deadline, the 

CDFI Fund will not respond to 

questions or provide support to 

Applicants until after the application 

deadline. Applications and other 

information regarding the CDFI Fund 

and its programs may be obtained from 

the CDFI Fund’s Web site at http:// 

www.cdfifund.gov. The CDFI Fund will 

post on its Web site responses to 

questions of general applicability 

regarding the CDFI Program. 

B. Applicants may contact the CDFI 

Fund as follows: 

TABLE 6—CONTACT INFORMATION

[Fax number for all offices: 202–622–7754] 

Type of question Telephone number (not toll free) E-mail addresses 

CDFI Program ......................................................................................... 202–622–6355 ............................... cdfihelp@cdfi.treas.gov. 

CDFI Certification .................................................................................... 202–622–6355 ............................... cdfihelp@cdfi.treas.gov. 

Compliance Monitoring and Evaluation .................................................. 202–622–6330 ............................... ccme@cdfi.treas.gov. 

Information Technology Support ............................................................. 202–622–2455 ............................... IThelp@cdfi.treas.gov. 

C. Information Technology Support 

People who have visual or mobility 

impairments that prevent them from 

creating a Target Market map using the 

CDFI Fund’s Web site should call (202) 

622–2455 for assistance (this is not a toll 

free number). 

D. Communication With the CDFI Fund 

The CDFI Fund will use the 

Applicants’ and Awardees’ contact 

information in their myCDFIFund 

accounts to communicate. It is 

imperative, therefore, that Applicants, 

Awardees, Subsidiaries, Affiliates, and 

signatories maintain accurate contact 

information in their accounts. 

This includes information like contact 

names, especially for the authorized 

representative; e-mail addresses; fax and 

phone numbers; and office locations. 

For more information about 

myCDFIFund, as well as information on 

the Community Investment Impact 

System, please see the following Web 

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

accessingciis.pdf. 

VIII. Information Sessions and 

Outreach 

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, please visit the 

CDFI Fund’s Web site at http:// 

www.cdfifund.gov. 

Authority: 12 U.S.C. 4701, et seq; 12 CFR 

parts 1805 and 1815. 

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Federal Register / Vol. 75, No. 193 / Wednesday, October 6, 2010 / Notices 61853 

Dated: October 1, 2010. 

Donna J. Gambrell, 

Director, Community Development Financial 

Institutions Fund. 

[FR Doc. 2010–25236 Filed 10–5–10; 8:45 am] 

BILLING CODE 4810–70–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Advisory Committee to the Internal 

Revenue Service; Meeting 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice. 

SUMMARY: The Information Reporting 

Program Advisory Committee (IRPAC) 

will hold a public meeting on 

Wednesday, October 20, 2010. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Caryl Grant, National Public Liaison, 

CL:NPL:SRM, Rm. 7559, 1111 

Constitution Avenue, NW., Washington, 

DC 20224. Phone: 202–927–3641 (not a 

toll-free number). E-mail address: 

public_liaison@irs.gov. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given pursuant to section 

10(a)(2) of the Federal Advisory 

Committee Act, 5 U.S.C. App. (1988), a 

public meeting of the IRPAC will be 

held on Wednesday, October 20, 2010 

from 9:30 a.m. to 12:30 p.m. at Four 

Points by Sheraton, 1201 K Street, NW., 

Washington, DC. Report 

recommendations on issues that may be 

discussed include: Foreign Account Tax 

Compliance Act, § 6050W information 

reporting of payments made in 

settlement of payment card and third 

party network transactions, expansion 

of information reporting under § 6041, 

electronic furnishing of Forms 1098, 

1099, 5498 and W–2, backup 

withholding procedures requiring SSN 

validation following receipt of second B 

Notice, information regarding nonresident alien taxation and tax 

reporting, withholding tax issues, 

Identity Theft, Form 1099–DIV, Box 10, 

foreign tax paid, Form 5948 and fair 

market value reporting for deceased and 

successor beneficiaries, reporting of 

return of mistaken HSA contributions to 

an employer, Form 1099R reporting 

under EPCRS guidelines SEP, SARSEP, 

and Simple excesses returned to 

employer, Form 5498–SA, HSA, Archer 

MSA, or Medicare Advantage MSA 

information due date change, NRA 

documentation and Form 1042 

withholding issues on freight shipping 

and other transportation issues, Cost 

Basis and Draft 2011 Form 1099–B, K– 

1 matching, information reporting for 

tax credit bonds and stripped tax 

credits, electronic Power of Attorney 

validation for business returns, Central 

Withholding Agreements, IRS Business 

Master File, staggered B-notices, Form 

8886 Reportable Transaction Disclosure 

Statement, methodology of estimating 

Estate Tax non-compliance and 

underreporting, health care valuation on 

W–2, tip reporting compliance and 

enforcement, EINs for qualified plans 

and trusts, transparency for abusive use 

of multiple EINs, 2009 Form 5500 

automatic extension for calendar year 

plans, and basis allocation for direct 

rollovers. Last minute agenda changes 

may preclude advance notice. Due to 

limited seating and security 

requirements, please call or email Caryl 

Grant to confirm your attendance. Ms. 

Grant can be reached at 202–927–3641 

or public_liaison@irs.gov. Should you 

wish the IRPAC to consider a written 

statement, please call 202–927–3641, or 

write to: Internal Revenue Service, 

Office of National Public Liaison, 

CL:NPL:SRM, Room 7559, 1111 

Constitution Avenue, NW., Washington, 

DC 20224 or e-mail: 

public_liaison@irs.gov. 

Dated: September 23, 2010. 

Candice Cromling, 

Director, National Public Liaison. 

[FR Doc. 2010–25041 Filed 10–5–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Privacy Act of 1974, as Amended, 

System of Records 

AGENCY: Departmental Offices, Treasury. 

ACTION: Notice of Consolidated Privacy 

Act System of Records. 

SUMMARY: In accordance with the 

requirements of the Privacy Act of 1974, 

as amended, 5 U.S.C. 552a, the 

Department of the Treasury, 

Departmental Offices, gives notice of a 

consolidated Privacy Act system of 

records. 

DATES: Comments must be received no 

later than November 5, 2010. This 

consolidated system of records will be 

effective November 5, 2010 unless the 

Office of Foreign Assets Control (OFAC) 

receives comments that would result in 

a contrary determination. 

ADDRESSES: Comments should be sent 

to: Assistant Director, Disclosure 

Services, Office of Foreign Assets 

Control, Department of the Treasury, 

1500 Pennsylvania Avenue, NW., 

Washington, DC 20220. The Department 

will make such comments available for 

public inspection and copying in the 

Department’s Library, Room 1428, Main 

Treasury Building, 1500 Pennsylvania 

Avenue, NW., Washington, DC 20220, 

on official business days between the 

hours of 10 a.m. and 5 p.m. Eastern 

Time. You can make an appointment to 

inspect comments by telephoning 202– 

622–0990 (not a toll free number). All 

comments, including attachments and 

other supporting materials, received are 

subject to public disclosure. You should 

submit only information that you wish 

to make available publicly. 

FOR FURTHER INFORMATION CONTACT: 

Assistant Director, Disclosure Services, 

Office of Foreign Assets Control, 

Department of the Treasury, 1500 

Pennsylvania Avenue, NW., 

Washington, DC 20220, tel.: 202–622– 

2510 (not a toll free number), or Chief 

Counsel (Foreign Assets Control), Office 

of General Counsel, Department of the 

Treasury, 1500 Pennsylvania Avenue, 

NW., Washington, DC 20220, tel.: 202– 

622–2410 (not a toll free number). 

SUPPLEMENTARY INFORMATION: This 

system of records exists within 

Treasury’s Departmental Offices to 

manage records related to the 

implementation, enforcement, and 

administration of U.S. economic 

sanctions. The following systems of 

records are being consolidated and 

renamed as Treasury/DO .120—Records 

Related to Office of Foreign Assets 

Control Economic Sanctions: 

Treasury/DO .111—Office of Foreign 

Assets Control Census Records. 

Treasury/DO .114—Foreign Assets 

Control Enforcement Records. 

Treasury/DO .118—Foreign Assets 

Control Licensing Records. 

This notice of this system of records 

will provide the public with a better 

understanding of the purposes and uses 

of OFAC-related records and the 

public’s access to these records. This 

system of records also supports 

determinations made by OFAC pursuant 

to Section 2002 of Public Law 106–386, 

Victims of Trafficking and Violence 

Protection Act of 2000. Additionally, 

one of the purposes of this system of 

records is to provide the names and 

other identifying information (such as 

names and aliases, addresses, dates of 

birth, citizenship information, and 

identification numbers associated with 

government-issued documents) of 

individuals and entities whose property 

and interests in property are blocked or 

otherwise affected by one or more OFAC 

economic sanctions programs to assist 

the public in complying with those 

sanctions programs. OFAC provides this 

information to the public by publishing 

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