[Federal Register Volume 75, Number 193 (Wednesday, October 6, 2010)]
[Notices]
[Pages 61843-61853]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-25236]


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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).

[[Page 61844]]

 
(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 co-awarded 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 lower-income 
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-
to-consumer 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 
HFFI-specific 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

[[Page 61845]]

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, third-party 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, third-party 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  (1) Is a Certified/Certifiable CDFI;                        Up to and including $600,000 in FA funds.
 Assistance (SECA).
                                       (2) As of the end of the Applicant's most recent fiscal
                                        year end or September 30, 2010, has total assets as
                                        follows:
                                         <bullet> Insured Depository Institutions and Depository
                                       Institution Holding Companies: up to $250 million
                                         <bullet> Insured Credit Unions: up to $10 million;
                                         <bullet> Venture capital funds: up to $10 million;
                                         <bullet> Other CDFIs: up to $5 million; OR
                                       (3) Began operations* on or after January 1, 2007.
Category II/Core/HFFI................  A Certified/Certifiable CDFI that meets all other           Up to and including $2 million in FA funds; and up to
                                        eligibility requirements described in this NOFA.            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:

[[Page 61846]]



                                         Table 3--TA Applicant Criteria
----------------------------------------------------------------------------------------------------------------
           Applicant type                      Criteria of applicant               Applicant can apply for:
----------------------------------------------------------------------------------------------------------------
TA..................................  A Certified CDFI, a Certifiable CDFI,   Up to $100,000 in TA funds.
                                       or an Emerging CDFI.
----------------------------------------------------------------------------------------------------------------

    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

[[Page 61847]]

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 <a href="/cdn-cgi/l/email-protection#b1f2f5f7f89fd5d8c2d3c4c3c2d4d8dfc0c4d8c3d8d4c2f1d2d5d7d89fc5c3d4d0c29fd6dec7"><span class="__cf_email__" data-cfemail="adeee9ebe483c9c4decfd8dfdec8c4c3dcd8c4dfc4c8deedcec9cbc483d9dfc8ccde83cac2db">[email protected]</span></a>.
    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 non-Federal 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

[[Page 61848]]

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 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 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 in-hand, 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.

[[Page 61849]]

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/GrantsgovCoBrandBrochure8X11.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           October 20,      5:00 p.m.
 Certification staff for       2010.
 assistance.
Certification application...  October 22,      5:00 p.m.
                               2010.
Certification Material        October 22,      5:00 p.m.
 Events Form.                  2010.
Last day to contact CDFI      November 17,     5:00 p.m.
 Program staff for             2010.
 assistance.
Last day to contact CDFI      November 17,     5:00 p.m.
 Compliance staff for          2010.
 assistance.
FA Application (Part II of    November 19,     midnight.
 the application).             2010.
TA Application (Part III of   November 19,     midnight.
 the application).             2010.
Healthy Food Financing        To Be            To Be Determined.
 Initiative Questionnaire.     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

[[Page 61850]]

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
------------------------------------------------------------------------
                                                                Scoring
                      Application parts                          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 de-obligated 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

[[Page 61851]]

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 Anti-Discrimination Laws: If the Awardee 
has

[[Page 61852]]

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]
------------------------------------------------------------------------
                                   Telephone number
        Type of question            (not toll free)    E-mail addresses
------------------------------------------------------------------------
CDFI Program....................  202-622-6355......  <a href="/cdn-cgi/l/email-protection#99fafdfff0f1fcf5e9d9fafdfff0b7edebfcf8eab7fef6ef"><span class="__cf_email__" data-cfemail="5c3f383a353439302c1c3f383a3572282e393d2f723b332a">[email protected]</span></a>.
CDFI Certification..............  202-622-6355......  <a href="/cdn-cgi/l/email-protection#533037353a3b363f23133037353a7d27213632207d343c25"><span class="__cf_email__" data-cfemail="89eaedefe0e1ece5f9c9eaedefe0a7fdfbece8faa7eee6ff">[email protected]</span></a>.
Compliance Monitoring and         202-622-6330......  <a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="e182828c84a182858788cf9593848092cf868e">[email protected]</a>
 Evaluation.                                           v.
Information Technology Support..  202-622-2455......  <a href="/cdn-cgi/l/email-protection#9cd5c8f4f9f0ecdcfff8faf5b2e8eef9fdefb2fbf3ea"><span class="__cf_email__" data-cfemail="d9908db1bcb5a999babdbfb0f7adabbcb8aaf7beb6af">[email protected]</span></a>.
------------------------------------------------------------------------

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.


[[Page 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


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