[Federal Register: December 3, 2004 (Volume 69, Number 232)]
[Notices]
[Page 70307-70313]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03de04-101]
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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 FY 2005 funding round of the Technical
Assistance Component of the Community Development Financial
Institutions Program.
Announcement Type: Initial announcement of funding opportunity.
Catalog of Federal Domestic Assistance (CDFA) Number: 21.020.
DATES: Applications for the FY 2005 funding round must be received by 5
p.m. ET on January 25, 2005. All applications submitted must meet all
eligibility and other requirements and deadlines, as applicable, set
forth in this NOFA. Applications received after 5 p.m. ET on the
applicable deadline will be rejected and returned to the sender.
Executive Summary: This NOFA is issued in connection with the FY
2005 funding round of the Technical Assistance (TA) Component of the
Community Development Financial Institutions (CDFI) Program. Through
the TA Component, the Community Development Financial Institutions Fund
(the Fund) provides TA grants to CDFIs and entities proposing to become
CDFIs in order to build their capacity to better address the community
development and capital access needs of their particular target
markets. Eligible uses of TA grant funds are set forth in section I.B
of this NOFA.
I. Funding Opportunity Description; Award Information
A. Award Information
Through this NOFA, the Fund intends to provide TA grants to build
Awardee capacity to serve Target Market(s). Subject to funding
availability, the Fund expects that it may award approximately $2
million in appropriated funds through this NOFA. The Fund reserves the
right to award in excess of $2 million in appropriated funds under this
NOFA, provided that the funds are available and the Fund deems it
appropriate. Through this NOFA, the Fund anticipates making awards up
to $50,000 each. The Fund, in its sole discretion, reserves the right
to award amounts in excess of or less than the anticipated maximum
award amount if the Fund deems it appropriate. Further, the 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 Fund reserves
the right to re-allocate funds from the amount that is anticipated to
be available under this NOFA to other Fund programs, particularly if
the Fund determines that the number of awards made under this NOFA is
fewer than projected.
B. Types of Awards
TA awards are in the form of grants. An Applicant may submit an
application for a TA grant only under this NOFA. Entities seeking
financial assistance (FA) awards or a combination of FA awards and TA
grants should apply for funds through the FA Component or the Native
American CDFI Assistance (NACA) Component of the CDFI Program.
The Fund reserves the right, in its sole discretion, to provide a
TA grant for uses and amounts other than that which is requested by an
Applicant. Applicants for TA grants under this NOFA shall describe the
type(s) of TA requested, when the TA will be acquired, the provider(s)
of the TA, the cost of the TA, and a narrative description of how the
TA will enhance their ability to serve their Target Market(s).
Eligible types of TA grant uses include, but are not limited to,
the following: (1) Acquiring consulting services; (2) paying staff
salary for the limited purposes of completing tasks and/or fulfilling
functions that are otherwise eligible TA grant uses under this NOFA;
(3) acquiring/enhancing technology including, but not limited to,
upgrading the organization's capacity to collect, electronically track,
and report community development impact data; and (4) acquiring
training for staff or management.
The Fund will generally not consider requests for TA grants under
this NOFA for expenses that, in the determination of the Fund, are
deemed to be ongoing operating expenses rather than nonrecurring
expenses. The Fund will consider requests for use of TA to pay for
staff salary only when the applicant demonstrates, to the Fund's
satisfaction, that:
(i) The staff salary relates directly to building the applicant's
capacity to serve its target market, including its ability to collect,
electronically track and report community development impact data;
(ii) The proposed staff time to be paid for by the TA grant will be
used for a non-recurring activity that will build the applicant's
capacity to achieve its objectives as set forth in its application;
(iii) The proposed capacity-building activity would otherwise be
contracted to a consultant or not be undertaken; and
(iv) The staff person assigned to the proposed task has the
competence to successfully complete the activity. The Fund may consider
funding requests for other staff salary uses, deemed appropriate by the
Fund in its sole discretion, particularly for applicants that have been
in operation 24 months or less as of the date of application.
Further guidance on the limited uses of TA grants for staff salary
expenditures is available on the Fund's Web site at http://www.cdfifund.gov
.
C. Notice of Award; Assistance Agreement
Each Awardee under this NOFA must sign a Notice of Award (for
further information, see Section V.A, below) and an Assistance
Agreement (see Section V.B, below) prior to disbursement by the Fund of
award proceeds. The Notice of Award and the Assistance Agreement
contain the terms and conditions of the award.
D. CDFI Program Regulations/Interim Rule
The regulations governing the CDFI Program can be found at 12 CFR
part 1805 (the Interim Rule) and provide guidance on evaluation
criteria and other requirements of the CDFI Program. The Fund
encourages Applicants to review the Interim Rule. Detailed application
content requirements are found in the application related to this NOFA.
Each capitalized term in this NOFA is more fully defined in the Interim
Rule or the application.
II. Eligibility Information
A. Eligible Applicants
The Interim Rule specifies the eligibility requirements that each
Applicant must meet in order to be eligible to apply for assistance
under this NOFA. The following sets forth additional detail and dates
that relate to the submission of applications under this NOFA:
1. CDFI Certification: For purposes of this NOFA, eligible
Applicants include:
(a) Any certified CDFI whose certification has not expired and/or
that has not been notified by the Fund that its certification has been
terminated must submit a ``Certification of Material Change Form'' to
the Fund not later than January 14, 2005, in accordance with the
instructions on the Fund's Web site at http://www.cdfifund.gov. Failure
to timely submit said form may result in the funding application being
deemed fatally incomplete and rejected without further review. Please
note that the Fund provided a number of CDFIs with certifications
expiring in 2003 through
[[Page 70308]]
2005 with written notification that their certifications have been
extended. The Fund will consider the extended certification date (the
later date) to determine whether those CDFIs meet this eligibility
requirement; or
(b) Any Applicant from which the Fund receives a complete CDFI
certification application no later than January 14, 2005, evidencing
that the Applicant can be certified as a CDFI. Applicants may obtain
CDFI certification applications through the Fund's Web site at http://www.cdfifund.gov.
Applications for certification must be submitted as
instructed in the application form; or
(c) An entity that demonstrates to the satisfaction of the Fund
that it has a reasonable plan to become a certified CDFI by January 31,
2007. Such Applicants must complete the related information in the
application and must be certified by said date.
2. Prior Awardees: Applicants must be aware that success in a prior
round of any of the Fund's programs is not indicative of success under
this NOFA. Prior awardees are eligible to apply under this NOFA, except
as follows:
(a) Non-certified Applicants. Any entity that has received a Notice
of Award from the Fund for a prior funding round of the CDFI Program or
the Native Initiatives Funding Programs, but that has not submitted a
CDFI certification application nor been certified as a CDFI, is not
eligible to receive funding under this NOFA (see Section II.A.2,
above).
(b) $5 Million Funding Cap. The Fund is generally 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. For the purposes of this NOFA, the period extends back
three years from the date that the Fund signs a Notice of Award issued
to an Awardee under this NOFA.
(c) Failure to Meet Reporting Requirements. The Fund will not
consider an application submitted by an Applicant if that Applicant, or
an entity that Controls the Applicant, is Controlled by the Applicant,
or shares common management officials with the Applicant (as determined
by the Fund), is a prior Fund Awardee or allocatee under any Fund
program and is not current on the reporting requirements set forth in
any previously executed assistance, allocation or award agreement(s)
with the Fund, as of the application deadline of this NOFA. Please note
that the 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.
(d) Pending Resolution of Noncompliance. If (i) an Applicant is a
prior Awardee or allocatee under any Fund program and has submitted
complete and timely reports to the Fund that demonstrate noncompliance
with a previous assistance, award or allocation agreement, and (ii) the
Fund has yet to make a final determination as to whether the entity is
in default of its previous assistance, award or allocation agreement,
then the Fund will consider the Applicant's application under this NOFA
pending final resolution, in the sole determination of the Fund, of the
instance of noncompliance. Further, if (i) another entity that Controls
the Applicant, is Controlled by the Applicant, or shares common
management officials with the Applicant (as determined by the Fund) is
a prior Fund Awardee or allocatee and such entity has submitted
complete and timely reports to the Fund that demonstrate noncompliance
with a previous assistance, award or allocation agreement, and (ii) the
Fund has yet to make a final determination as to whether the entity is
in default of its previous assistance award or allocation agreement,
then the Fund will consider the Applicant's application under this NOFA
pending final resolution, in the sole determination of the Fund, of the
instance of noncompliance.
(e) Default Status. The Fund will not consider an application
submitted by an Applicant that is a prior Fund Awardee or allocatee
under any Fund program if, as of the application deadline of this NOFA,
the Fund has made a final determination that such Applicant is in
default of a previously executed assistance, award or allocation
agreement(s) and the Fund has provided written notification of such
determination to such Applicant. Further, an entity is not eligible to
apply for an award pursuant to this NOFA if, as of the application
deadline, (i) the Fund has made a final determination that another
entity that Controls the Applicant, is Controlled by the Applicant, or
shares common management officials with the Applicant (as determined by
the Fund) is a prior Fund Awardee or allocatee under any Fund program
and that has been determined by the Fund to be in default of a
previously executed assistance award or allocation agreement(s), and
(ii) the Fund has provided written notification of such determination
to the defaulting entity.
(f) Termination in Default. The Fund will not consider an
application submitted by an Applicant that is a prior Fund Awardee or
allocatee under any Fund program if, within the 12-month period prior
to the application deadline of this NOFA, the Fund has made a final
determination that such Applicant's prior award or allocation
terminated in default of the assistance, award or allocation agreement
and the Fund has provided written notification of such determination to
such Applicant. Further, an entity is not eligible to apply for an
award pursuant to this NOFA if, within the 12-month period prior to the
application deadline of this NOFA, (i) the Fund has made a final
determination that another entity that Controls the Applicant, is
Controlled by the Applicant, or shares common management officials with
the Applicant (as determined by the Fund), is a prior Fund Awardee or
allocatee under any Fund program whose award or allocation terminated
in default of the assistance, award or allocation agreement, and (ii)
the Fund has provided written notification of such determination to the
defaulting entity.
(g) Undisbursed Balances. The Fund will not consider an application
submitted by an Applicant that is a prior Fund Awardee under any Fund
program if the Applicant has a balance of undisbursed funds (defined
below) under said prior award(s), as of the application deadline of
this NOFA. Further, an entity is not eligible to apply for an award
pursuant to this NOFA if another entity that Controls the Applicant, is
Controlled by the Applicant or shares common management officials with
the Applicant (as determined by the Fund), is a prior Fund Awardee
under any Fund program, and has a balance of undisbursed funds under
said prior award(s), as of the application deadline of this NOFA. In
the case where another entity Controls the Applicant, is Controlled by
the Applicant or shares common management officials with the Applicant
(as determined by the Fund), is a prior Fund Awardee under any Fund
program, and has a balance of undisbursed funds under said prior
award(s), as of the application deadline of this NOFA, the Fund will
include the combined awards of the Applicant and such Affiliates when
calculating the amount of undisbursed funds. For the purposes of this
section, ``undisbursed funds'' is defined as (i) in the case of prior
Bank Enterprise Award (BEA) Program award(s), any balance of award
funds equal to or greater than five (5) percent of the total prior BEA
Program award(s) for which a BEA award agreement has been fully
executed that remains undisbursed more than three
[[Page 70309]]
(3) years after the end of the calendar year in which the Fund signed
an award agreement with the BEA awardee, and (ii) in the case of prior
CDFI Program or other Fund program award(s), any balance of award funds
equal to or greater than five (5) percent of the total prior award(s)
for which an Assistance Agreement has been fully executed that remains
undisbursed more than two (2) years after the end of the calendar year
in which the Fund signed an Assistance Agreement with the Awardee.
``Undisbursed funds'' does not include (i) tax credit allocation
authority allocated through the New Markets Tax Credit Program; (ii)
any award funds for which the Fund received a full and complete
disbursement request from the Awardee as of the application deadline of
this NOFA; (iii) any award funds for an award that has been terminated,
expired, rescinded or deobligated by the Fund; and (iv) any award funds
for an award that does not have a fully executed assistance or award
agreement. The Fund strongly encourages Applicants requesting
disbursements from prior awards to provide the Fund with a complete
disbursement request at least 20 business days prior to the application
deadline of this NOFA.
(h) Contact the Fund. Accordingly, Applicants that are prior
Awardees are advised to: (i) Comply with requirements specified in
assistance, award and/or allocation agreement(s), and (ii) contact the
Fund to ensure that all necessary actions are underway for the
disbursement of any outstanding balance of said prior award(s). All
outstanding reports, compliance or disbursement questions should be
directed to the Grants Management and Compliance Manager by e-mail at
gmc@cdfi.treas.gov; by telephone at (202) 622-8226; by facsimile at
(202) 622-6453; or by mail to CDFI Fund, 601 13th Street, NW., Suite
200 South, Washington, DC 20005. The Fund will respond to Applicants'
reporting, compliance or disbursement questions between the hours of 9
a.m. and 5 p.m. ET, starting the date of the publication of this NOFA
through January 21, 2005 (2 business days before the application
deadline). The Fund will not respond to Applicants' reporting,
compliance or disbursement phone calls or e-mail inquiries that are
received after 5 p.m. on January 21, 2005, until after the funding
application deadline of January 25, 2005.
(i) Entities that submit applications together with Affiliates;
applications from common enterprises: As part of the award application
review process, the Fund considers whether Applicants are Affiliates,
as such term is defined in the Interim Rule. If an Applicant and its
Affiliates wish to submit award applications, they must do so
collectively, in one application; an Applicant and its Affiliates may
not submit separate award applications. If Affiliated entities submit
multiple applications, the Fund reserves the right either to reject all
such applications received or to select a single application as the
only one that will be considered for an award. For purposes of this
NOFA, in addition to assessing whether Applicants meet the definition
of the term ``Affiliate'' found in the Interim Rule, the Fund will
consider: (i) whether the activities described in applications
submitted by separate entities are, or will be, operated or managed as
a common enterprise that, in fact or effect, could be viewed as a
single entity; and (ii) whether the business strategies and/or
activities described in applications submitted by separate entities are
so closely related that, in fact or effect, they could be viewed as
substantially identical applications. In such cases, the Fund reserves
the right either to reject all applications received from all such
entities or to select a single application as the only one that will be
considered for an award.
3. Limitation on Awards: An Applicant may apply for and receive TA
awards from the Fund through the TA Component, the NACA Component and/
or the FA Component of the CDFI Program, but only to the extent that
the approved uses of TA under such Components are different. In
addition, a TA Component Applicant, its Subsidiaries or Affiliates may
apply for: (i) A FA award through the FA Component and the NACA
Component of the CDFI Program; (ii) a tax credit allocation through the
New Markets Tax Credit (NMTC) Program, but only to the extent that the
activities approved for a FA Component award are different from those
activities for which the Applicant received a NMTC Program allocation;
and (iii) an award through the Bank Enterprise Award (BEA) Program
(subject to certain limitations; refer to the Interim Rule at 12 CFR
1805.102).
4. Other Targeted Populations: Other Targeted Populations are
defined as identifiable groups of individuals in the Applicant's
service area for which there exists a strong basis in evidence that
they lack access to loans, Equity Investments and/or Financial
Services. The Fund has determined that there is strong basis in
evidence that the following groups of individuals lack access to loans,
Equity Investments and/or Financial Services on a national level:
Blacks or African Americans, Native Americans or American Indians, and
Hispanics or Latinos. In addition, for purposes of this NOFA, the Fund
has determined that there is a strong basis in evidence that Alaska
Natives residing in Alaska, Native Hawaiians residing in Hawaii, and
Other Pacific Islanders residing in other Pacific Islands, lack
adequate access to loans, Equity Investments or Financial Services. An
Applicant designating any of the above-cited Other Targeted Populations
is not required to provide additional narrative explaining the Other
Targeted Population's lack of adequate access to loans, Equity
Investments or Financial Services. Additionally, the Fund recognizes
that there may be other such groups for which there is strong basis in
evidence that they lack access to loans, Equity Investments and/or
Financial Services. Such groups may be identified, and evidence of such
lack of access may be provided, in the Market Need section of the
application associated with this NOFA, and the application for CDFI
certification (if not identified in the Target Market of a currently
certified CDFI).
For purposes of this NOFA, the Fund will use 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.
For further detail, please visit the Fund's Web site at http://www.cdfifund.gov
, under Certification[bs]Supplemental
Information.
[[Page 70310]]
III. Application and Submission Information
A. Form of Application Submission
Applicants must submit applications under this NOFA in paper form.
Applications sent by facsimile will not be accepted. Detailed
application content requirements are found in the application related
to this NOFA which may be found at the Fund's Web site, http://www.cdfifund.gov.
The Fund will send paper application materials to
Applicants that are unable to download them from the Web site. To have
application materials sent to you, contact the Fund by telephone at
(202) 622-6355; by email at cdfihelp@cdfi.treas.gov; or by facsimile at
(202) 622-7754. These are not toll free numbers.
B. Application Content Requirements
Detailed application content requirements are found in the FY 2005
application and guidance. Please note that, pursuant to OMB guidance
(68 Federal Register 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), with
a letter or other documentation from the Internal Revenue Service (IRS)
confirming the Applicant's EIN. Incomplete applications will be
rejected and returned to the sender.
C. MyCDFIFund Accounts
All Applicants must register User and Organization accounts in
myCDFIFund, the Fund's Internet-based interface. Applicants must be
registered as both a User and an Organization in myCDFIFund as of the
application deadline in order to be considered to have submitted a
complete application. As myCDFIFund is the Fund's primary means of
communication with Applicants and Awardees, organizations must make
sure that they update the contact information in their myCDFIFund
accounts. For more information on myCDFIFund, please see the Help
documents posted at http://www.cdfifund.gov/myCDFI/Help/Help.asp.
D. Application Submission Dates and Times; Addresses
Applicants must submit all materials described in and required by
the application by the applicable deadline. Applicants will not be
afforded an opportunity to provide any missing materials or
documentation after the deadline.
A complete application must be received at the address set forth
below by 5 p.m. ET on January 25, 2005, and must include an original
signature page (which includes a DUNS number), a letter or other
documentation from the Internal Revenue Service confirming the
Applicant's EIN, and all other required attachments. Applications must
be submitted in the format and with the number of copies specified in
the application instructions. Applications must be sent to: CDFI Fund
Grants Management and Compliance Manager, TA Component, Bureau of
Public Debt, 200 Third Street, Room 10, Parkersburg, WV 26101. The
telephone number to be used in conjunction with overnight delivery or
mailings to this address is (304) 480-5450. Applications received in
the Fund's offices will be rejected and returned to the sender.
E. Late Delivery
The Fund will not grant exceptions or waivers for late delivery of
documents including, but not limited to, late delivery that is caused
by third parties such as the United States Postal Service, couriers or
overnight delivery services.
IV. Intergovernmental Review
Not applicable.
V. Funding Restrictions
For allowable uses of TA award proceeds, please see section I.B. of
this NOFA.
VI. Application Review Information
A. Criteria
The Fund will evaluate each application using numeric scores with
respect to the following four sections:
1. Market Need and CDFI Strategy: including a review of the
Applicant's understanding of the extent of economic distress within the
designated Investment Area(s) or the extent of need among the
designated Targeted Population(s) (including economic distress caused
by severe natural disasters in an Investment Area(s) that has been
declared to be a Major Disaster area by the Federal Emergency
Management Agency (see http://www.fema.gov) or an equivalent state or
local agency), the extent of need for the CDFI, the appropriateness of
the proposed products, services and delivery strategy to meet the needs
in the market;
2. Management: including a review of the Applicant's current and
proposed management team, governing board, and key staff, its policies
and procedures for financial management, and its track record in
underwriting and portfolio management and ability to achieve the
objectives set forth in its application and track its community
development impacts; and to successfully use and track the use of the
requested TA award and maintain compliance with its Assistance
Agreement(s). If an Applicant has received one or more prior awards
through the CDFI Program, the Fund will consider the extent to which
the Applicant has submitted required reports in a timely manner and
otherwise complied with the Fund's requirements (as described in
section VI.B, Review and Selection Process, below);
3. Financial Health and Resources: including a review of the
Applicant's financial strength, its liquidity, and the likelihood of
obtaining resources to sustain operations, and a clear indication that
the Applicant will not be fiscally dependent on the Fund; and
4. Community Development Performance and Effective Use of TA:
including the projected level of activity within the Target Market; the
extent to which the proposed activities are expected to promote
community development objectives and are likely to create measurable
community development impact; the extent to which the Applicant needs
the TA award to achieve the objectives set forth in its application;
and the likelihood that the TA award will enhance the Applicant's
ability to effectively serve its Target Market and achieve measurable
community development impact.
B. Review and Selection Process
All applications will be reviewed for eligibility and completeness.
To be complete, the application must contain, at a minimum, all
information described as required in the application form. An
incomplete application will be rejected as incomplete and returned to
the sender. The application of an Applicant that does not meet the
eligibility requirements will be rejected.
If determined to be eligible and complete, the Fund will conduct
the substantive review of each application in accordance with the
criteria and procedures described in the Interim Rule, this NOFA, and
the application and guidance.
Each application will be reviewed and scored by a reader.
Applications will be scored on a 100-point scale, with a maximum of 25
points allotted to each of the criteria sections described above.
Applicants must score at least 12 points in each criteria section to be
considered for funding. The Fund will rank the applications that meet
the 12-point per criteria section requirement from highest to lowest
total score and will
[[Page 70311]]
make award decisions in the order of the ranking until all funds
available through this NOFA have been committed.
As part of the review process, the Fund may contact the Applicant
by telephone or e-mail or through an on-site visit for the purpose of
obtaining clarifying or confirming application information. The
Applicant may be required to submit additional information to assist
the Fund in its evaluation process. Such requests must be responded to
within the time parameters set by the Fund.
In the case of an Applicant that has previously received funding
from the Fund through any Fund program, the Fund will consider and may
deduct points for: (i) The Applicant's noncompliance with any active
award or award that terminated in the fiscal year that ended in
calendar year 2004, in meeting its performance goals, financial
soundness covenants (if applicable), reporting deadlines and other
requirements set forth in the assistance or award agreement(s) with the
Fund during the Applicant's two complete fiscal years prior to the
application deadline of this NOFA (generally FY 2003 and 2004); and
(ii) the Applicant's failure to make timely loan payments to the Fund
during the Applicant's two complete fiscal years prior to the
application deadline of this NOFA (if applicable). Additionally, the
Fund may take into account performance on any prior Assistance
Agreement as part of the overall assessment of the Applicant's ability
to carry out its Comprehensive Business Plan. All outstanding reports
or compliance questions should be directed to the Grants Management and
Compliance Manager by e-mail at gmc@cdfi.treas.gov; by telephone at
(202) 622-8226; by facsimile at (202) 622-6453; or by mail to CDFI
Fund, 601 13th Street, NW., Suite 200 South, Washington, DC 20005. The
Fund will respond to reporting or compliance questions between the
hours of 9 a.m. and 5 p.m. ET, starting the date of the publication of
this NOFA through January 21, 2005. The Fund will not respond to
reporting or compliance phone calls or e-mail inquiries that are
received after 5 p.m. on January 21, 2005 until after the funding
application deadline of January 25, 2005.
The Fund will make a final funding determination based on the
Applicant's file, reviewer scores and recommendations, and the amount
of funds available. In the case of Insured CDFIs, the Fund will take
into consideration the views of the Appropriate Federal Banking
Agencies; in the case of State-Insured Credit Unions, the Fund may
consult with the appropriate State banking agencies (or comparable
entity).
Each Applicant will be informed of the Fund's award decision either
through a Notice of Award if selected for an award (see Notice of Award
section, below) or written declination if not selected for an award.
The Fund will notify Awardees by email using the addresses maintained
in the Awardee's myCDFIFund account (postal mailings will be used only
in rare cases).
The Fund reserves the right to change its eligibility and
evaluation criteria and procedures, if the Fund deems it appropriate;
if said changes materially affect the Fund's award decisions, the Fund
will provide information regarding the changes through the Fund's
website.
There is no right to appeal the Fund's award decisions. The Fund's
award decisions are final.
VII. Award Administration Information
A. Notice of Award
The Fund will signify its selection of an Applicant as an Awardee
by delivering a signed Notice of Award to the Applicant. The Notice of
Award will contain the general terms and conditions underlying the
Fund's provision of assistance including, but not limited to, the
requirement that the Awardee and the Fund enter into an Assistance
Agreement. The Applicant must execute the Notice of Award and return it
to the Fund. By executing a Notice of Award, the Awardee agrees that,
if prior to entering into an Assistance Agreement with the Fund,
information (including administrative error) comes to the attention of
the Fund that either adversely affects the Awardee's eligibility for an
award, or adversely affects the Fund's evaluation of the Awardee's
application, or indicates fraud or mismanagement on the part of the
Awardee, the Fund may, in its discretion and without advance notice to
the Awardee, terminate the Notice of Award or take such other actions
as it deems appropriate. Moreover, by executing a Notice of Award, the
Awardee agrees that, if prior to entering into an Assistance Agreement
with the Fund, the Fund determines that the Awardee is in default of
any Assistance Agreement previously entered into with the Fund, the
Fund may, in its discretion and without advance notice to the Awardee,
either terminate the Notice of Award or take such other actions as it
deems appropriate. The Fund reserves the right, in its sole discretion,
to rescind its award if the Awardee fails to return the Notice of
Award, signed by the authorized representative of the Awardee, along
with any other requested documentation, within the deadline set by the
Fund.
1. Failure to meet reporting requirements: If an Applicant or an
entity that Controls the Applicant, is Controlled by the Applicant or
shares common management officials with the Applicant (as determined by
the Fund) is a prior Fund Awardee or allocatee under any Fund program
and is not current on the reporting requirements set forth in the
previously executed assistance, award or allocation agreement(s), as of
the date of the Notice of Award, the Fund reserves the right, in its
sole discretion, to delay entering into an Assistance Agreement and/or
to delay making a disbursement of award proceeds, until said prior
Awardee or allocatee is current on the reporting requirements in the
previously executed assistance, award or allocation agreement(s).
Please note that the 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 or allocatee is unable to meet this requirement
within the timeframe set by the Fund, the Fund reserves the right, in
its sole discretion, to terminate and rescind the Notice of Award and
the award made under this NOFA.
2. Pending resolution of noncompliance: If (i) an Applicant is a
prior Fund Awardee or allocatee under any Fund program and has
submitted complete and timely reports to the Fund that demonstrate
noncompliance with a previous assistance, award or allocation
agreement, and (ii) the Fund has yet to make a final determination
regarding whether or not the entity is in default of its previous
assistance, award or allocation agreement, then the Fund reserves the
right, in its sole discretion, to delay entering into an Assistance
Agreement and/or to delay making a disbursement of award proceeds,
pending full resolution, in the sole determination of the Fund, of the
noncompliance. Further, if (i) another entity that Controls the
Applicant, is Controlled by the Applicant or shares common management
officials with the Applicant (as determined by the Fund), is a prior
Fund Awardee or allocatee under any Fund program and such entity has
submitted complete and timely reports to the Fund that demonstrate
noncompliance with a previous assistance, award or allocation
agreement, and (ii) the Fund has yet to
[[Page 70312]]
make a final determination as to whether the entity is in default of
its previous assistance, award or allocation agreement, then the Fund
reserves the right, in its sole discretion, to delay entering into an
Assistance Agreement and/or to delay making a disbursement of award
proceeds pending full resolution, in the sole determination of the
Fund, of the noncompliance. If said prior Awardee or allocatee is
unable to meet this requirement, the Fund reserves the right, in its
sole discretion, to terminate and rescind the Notice of Award and the
award made under this NOFA.
3. Default status: If, at any time prior to entering into an
Assistance Agreement under this NOFA, the Fund (i) has made a final
determination that an Applicant that is a prior Fund Awardee or
allocatee under any Fund program is in default of a previously executed
assistance, award or allocation agreement(s), and (ii) has provided
written notification of such determination to the Applicant, then the
Fund reserves the right, in its sole discretion, to delay entering into
an Assistance Agreement and/or to delay making a disbursement of award
proceeds until said prior Awardee or allocatee has submitted a complete
and timely report demonstrating full compliance with said agreement
within a timeframe set by the Fund. Further, if, at any time prior to
entering into an Assistance Agreement under this NOFA, the Fund (i) has
made a final determination that another entity which Controls the
Applicant or shares common management officials with the Applicant (as
determined by the Fund) is a prior Fund Awardee or allocatee under any
Fund program, and is in default of a previously executed assistance,
award or allocation agreement(s) and (ii) has provided written
notification of such determination to the defaulting entity, then the
Fund reserves the right, in its sole discretion, to delay entering into
an Assistance Agreement and/or to delay making a disbursement of award
proceeds until said prior Awardee or allocatee has submitted a complete
and timely report demonstrating full compliance with said agreement
within a timeframe set by the Fund. If said prior Awardee or allocatee
is unable to meet this requirement, the Fund reserves the right, in its
sole discretion, to terminate and rescind the Notice of Award and the
award made under this NOFA.
4. Termination in default: If, within the 12-month period prior to
entering into an Assistance Agreement under this NOFA, the Fund (i) has
made a final determination that an Applicant with a prior award or
allocation has been terminated in default of such prior agreement and
(ii) has provided written notification of such determination to such
organization, the Fund reserves the right, in its sole discretion, to
delay entering into an Assistance Agreement and/or delay making a
disbursement of award proceeds under this NOFA. Further, if, within the
12-month period prior to entering into an Assistance Agreement under
this NOFA, the Fund (i) has made a final determination that another
entity which Controls the Applicant, is Controlled by the Applicant or
shares common management officials with the Applicant (as determined by
the Fund), is a prior Fund Awardee or allocatee under any Fund program,
whose award or allocation terminated in default of such prior
agreement(s), and (ii) has provided written notification of such
determination to the defaulting entity, the Fund reserves the right, in
its sole discretion, to delay entering into an Assistance Agreement
and/or to delay making a disbursement of award proceeds.
B. Assistance Agreement
Each Applicant that is selected to receive an award under this NOFA
must enter into an Assistance Agreement with the Fund prior to
disbursement of award proceeds. The Assistance Agreement will set forth
certain required terms and conditions of the award, which will include,
but not be limited to: (i) The amount of the award; (ii) the approved
uses of the award; (iii) performance goals and measures; and (iv)
reporting requirements for all Awardees. Assistance Agreements under
this NOFA will generally have two-year performance periods.
The Fund reserves the right, in its sole discretion, to rescind its
award if the Awardee fails to return the Assistance Agreement, signed
by the authorized representative of the Awardee, and/or provide the
Fund with any other requested documentation, within the deadlines set
by the Fund.
In addition to entering into an Assistance Agreement, each Awardee
that receives an award must provide the Fund with a good standing
certificate (or equivalent documentation) from its state (or
jurisdiction) of incorporation.
C. Reporting
1. Reporting requirements: The Fund will collect information, on at
least an annual basis, from each Awardee including, but not limited to,
an Annual Report that comprises the following components: (i) Financial
Report; (ii) Institution-Level Report; (iii) Transaction-Level Report
(in the discretion of the Fund); (iv) Financial Status Report; (v)
Explanation of Noncompliance (as applicable); and (vi) such other
information as the 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 Fund may require, the Awardee is responsible for ensuring that
the information is submitted timely and complete. The Fund reserves the
right to contact such additional signatories to the Assistance
Agreement and require that additional information and documentation be
provided. The Fund will use such information to monitor each Awardee's
compliance with the requirements set forth in the Assistance Agreement
and to assess the impact of the CDFI Program. The Institution-Level
Report and Transaction-Level Report must be submitted through the
Fund's web-based data collection system, the Community Investment
Impact System (CIIS). The Financial Report may be submitted through
CIIS, or by fax or mail to the Fund. All other components of the Annual
Report may be submitted to the Fund in paper form or other form to be
determined by the Fund. The 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 Fund will require each Awardee that receives TA
awards through this NOFA to account for and track the use of said TA
awards. This means that for every dollar of TA awards received from the
Fund, the Awardee will be required to inform the Fund of its uses. This
will require Awardees to establish separate administrative and
accounting controls, subject to the applicable OMB Circulars. The Fund
will provide guidance to Awardees outlining the format and content of
the information to be provided on an annual basis, outlining and
describing how the funds were used.
VIII. Agency Contacts
The 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 the date of the publication
[[Page 70313]]
of this NOFA through January 21, 2005. The Fund will not respond to
questions or provide support concerning the application that are
received after 5 p.m. ET on January 21, 2005, until after the funding
application deadline of January 25, 2005. Applications and other
information regarding the Fund and its programs may be obtained from
the Fund's Web site at http://www.cdfifund.gov. The Fund will post on
its Web site responses to questions of general applicability regarding
the CDFI Program.
A. Information Technology Support
Technical support can be obtained by calling (202) 622-2455 or by
e-mail at ithelpdesk@cdfi.treas.gov. People who have visual or mobility
impairments that prevent them from creating an Investment Area map
using the Fund's Web site should call (202) 622-2455 for assistance.
These are not toll free numbers.
B. Programmatic Support
If you have any questions about the programmatic requirements of
this NOFA, contact the Fund's Program Operations Manager by e-mail at
cdfihelp@cdfi.treas.gov, by telephone at (202) 622-6355, by facsimile
at (202) 622-7754, or by mail at CDFI Fund, 601 13th Street, NW., Suite
200 South, Washington, DC 20005. These are not toll-free numbers.
C. Administrative Support
If you have any questions regarding the administrative requirements
of this NOFA, including questions regarding submission requirements,
contact the Fund's Grants Management and Compliance Manager by e-mail
at gmc@cdfi.treas.gov, by telephone at (202) 622-8226, by facsimile at
(202) 622-6453, or by mail at CDFI Fund, 601 13th Street, NW., Suite
200 South, Washington, DC 20005. These are not toll free numbers.
D. Legal Counsel Support
If you have any questions or matters that you believe require
response by the Fund's Office of Legal Counsel, please refer to the
document titled ``How to Request a Legal Review,'' found on the Fund's
Web site at http://www.cdfifund.gov.
E. Communication with the CDFI Fund
The Fund will use its myCDFIFund Internet interface to communicate
with Applicants and Awardees under this NOFA. Applicants must register
through myCDFIFund in order to submit a complete application for
funding. Awardees must use myCDFIFund to submit required reports. The
Fund will notify Awardees by email using the addresses maintained in
each Awardee's myCDFIFund account. Therefore, the Awardee and any
Subsidiaries, signatories, and Affiliates must maintain accurate
contact information (including contact person and authorized
representative, email addresses, fax numbers, phone numbers, and office
addresses) in their myCDFIFund account(s). For more information about
myCDFIFund, please see the Help documents posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp
.
IX. Information Sessions and Outreach
In connection with the Fiscal Year 2005 funding round, the Fund may
conduct Information Sessions to disseminate information to
organizations contemplating applying to, and other organizations
interested in learning about, the Fund's programs. For further
information on the Fund's Information Sessions, dates and locations, or
to register to attend an Information Session, please visit the Fund's
Web site at http://www.cdfifund.gov or call the Fund at (202) 622-9046.
Authority: 12 U.S.C. 4703, 4703 note, 4704, 4706, 4707, 4717; 12
CFR part 1805.
Dated: November 29, 2004.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
[FR Doc. 04-26597 Filed 12-2-04; 8:45 am]
BILLING CODE 4810-70-P