[Federal Register: November 10, 2004 (Volume 69, Number 217)]
[Notices]
[Page 65246-65256]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10no04-199]
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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 Financial
Assistance Component of the Community Development Financial
Institutions Program
Announcement Type: Initial announcement of funding opportunity.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
DATES: Applications for the FY 2005 funding round must be received by 5
p.m. ET on February 24, 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 Financial Assistance (FA) Component of the
Community Development Financial
[[Page 65247]]
Institutions (CDFI) Program. Through the FA Component, the Community
Development Financial Institutions Fund (the Fund) provides FA awards
and technical assistance (TA) grants to CDFIs that have Comprehensive
Business Plans for creating demonstrable community development impact
through the deployment of capital within their respective Target
Markets for community development purposes. Through this NOFA, the Fund
makes funding available to Applicants that meet the requirements of
either of two categories: (i) Category I/Small and Emerging CDFI
Assistance (SECA), and (ii) Category II/Core & Sustainable CDFI
Assistance (Core).
I. Funding Opportunity Description
A. Through this NOFA, the Fund intends to target its resources and
provide: (i) FA awards to CDFIs that will use award proceeds to serve
their respective Target Markets and (ii) TA grants to build Awardee
capacity to serve Target Market(s).
B. 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. Award Information
A. Award Information: Subject to funding availability, the Fund
expects that it may award approximately $22 million in appropriated
funds through this NOFA, of which approximately $2 million in
appropriated funds may be awarded to Category I/SECA Applicants. The
Fund reserves the right to award in excess of $22 million in
appropriated funds (and/or more or less than $2 million to Category I/
SECA applicants) under this NOFA, provided that the funds are available
and the Fund deems it appropriate. Through this NOFA, the Fund
anticipates making awards: (i) up to and including $300,000 per FA
award for Category I/SECA CDFIs; and (ii) up to and including
$2,000,000 per award for Category II/Core CDFIs. 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: An Applicant may submit an application either
for a FA award only, or for a FA award and a TA grant, under this NOFA.
While the FA Component offers TA grants in conjunction with FA awards,
entities seeking TA grants only should apply for funds through the TA
Component of the CDFI Program.
1. FA Awards: FA awards may be provided by the Fund through equity
investments (including, in the case of certain Insured Credit Unions,
secondary capital accounts), grants, loans, deposits, credit union
shares, or any combination thereof. The Fund reserves the right, in its
sole discretion, to provide a FA award in a form and amount other than
that which is requested by an Applicant.
2. TA Grants: TA awards are in the form of grants. The Fund
reserves the right, in its sole discretion, to provide a TA grant for
uses and amounts other than that which are requested by an Applicant.
The Fund reserves the right, in its sole discretion, to provide a TA
grant for specified purposes, even if the Applicant has not requested a
TA grant, and/or to provide a FA award on the condition that the
Applicant agrees to use a TA grant for specified purposes. Applicants
for TA grants through this NOFA are required to provide information in
the application regarding the expected cost, timing and provider of the
TA, and a narrative description of how the TA will enhance their
capacity to provide greater community development impact. Capacity
enhancements may address a range of activities including, but not
limited to, improvement of underwriting and portfolio management,
development of outreach and training strategies to enhance product
delivery, and tools that allow the Applicant to assess the impact of
its activities in its community.
Eligible TA grant uses include, but are not limited to, the
following: (i) acquiring consulting services; (ii) paying staff salary
for the limited purposes of completing tasks and/or fulfilling
functions that are otherwise eligible TA grant uses through this NOFA;
(iii) acquiring/enhancing technology items, including computer
hardware, software and Internet connectivity; and (iv) acquiring
training for staff or management.
The Fund will 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 non-recurring expenses. The Fund
will consider requests for use of TA grant funds 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; (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 Comprehensive Business Plan; (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.
C. Notice of Award; Assistance Agreement: Each Awardee under this
NOFA must sign a Notice of Award (for further information, see Section
VI.A, below) and an Assistance Agreement (see Section VI.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.
III. 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. Applicant Categories: All Applicants for FA Component awards
must meet the criteria for one of the following two categories of
CDFIs:
[[Page 65248]]
------------------------------------------------------------------------
What can it
Applicant category Criteria apply for?
------------------------------------------------------------------------
Category I/small and/or A Category I/SECA A Category I/
Emerging CDFA Assistance Applicant is a CDFI SECA Applicant
(SECA). that:. may request up
to and
including
$300,000 in FA
funds, plus any
amount of TA
funds otherwise
allowed under
NOFA.
Has total assets as of
December 31, 2004 as
follows:.
Insured
Depository
Institutions and
Depository
Institution Holding
Companies: up to $100
million.
Insured Credit
Unions: up to $10
million.
Venture
capital funds: up to
$10 million.
Other CDFIs:
up to $5 million OR.
Began operations on or
after February 24,
2000 AND.
Prior to the
application deadline
under this NOFA, has
not been selected to
receive an excess of
$300,000 in FA
award(s) in the
aggregate from the
CDFI Program or
Native Initiatives
Funding Programs.
Category II/core and A Category II/Core A Category II/
sustainable CDF assistance Applicant is a CDFI Core Applicant
(Core). that meets all other may request up
eligibility to and
requirements including $2
described in this million in FA
NOFA. funds only or a
combination of
FA and TA
funds.
------------------------------------------------------------------------
Please Note: any Applicant, regardless of size, years in operation,
or prior Fund awards, that requests FA funding in excess of $300,000 is
classified as a Category II/Core Applicant.
For the purposes of this NOFA, the term ``began operations'' is
defined as the month and year in which the Applicant first incurred
operating expenses of any type. Also, for purposes of this NOFA, the
term ``Native Initiatives Funding Programs'' refers to the following
programs administered by the Fund: the Native American CDFI Technical
Assistance (NACTA) Component of the CDFI Program, the Native American
CDFI Development (NACD) Program, the Native American Technical
Assistance (NATA) Component of the CDFI Program, and the Native
American CDFI Assistance (NACA) Program.
The Fund will evaluate, rank and make awards to Category I/SECA
Applicants separately from Category II/Core Applicants.
2. 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. Each such Applicant 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
Fund deeming the funding application fatally incomplete and rejecting
the funding application without further review. Please Note: the Fund
provided a number of CDFIs with certifications expiring in 2003 through
2005 with written notification that their certifications had 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.
3. 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 III.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 full 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
[[Page 65249]]
previous assistance award or allocation agreement, then the Fund will
consider the Applicant's application under this NOFA pending full
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 (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 10 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 February 22, 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 February 22, 2005, until after the funding
application deadline of February 24, 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
[[Page 65250]]
entities or to select a single application as the only one that will be
considered for an award.
4. Limitation on FA Awards: An Applicant may receive only one FA
award through either the FA Component or the Native American CDFI
Assistance (NACA) Program in the same funding year. An Applicant may
apply under both the FA Component and the NACA Program, but will not be
selected for funding under both. A FA Component Applicant, its
Subsidiaries or Affiliates also may apply for and receive: (i) a tax
credit allocation through the New Markets Tax Credit (NMTC) Program,
but only to the extent that the activities approved for FA Component
awards are different from those activities for which the Applicant
receives a NMTC Program allocation; (ii) an award through the BEA
Program (subject to certain limitations; refer to the Interim Rule at
12 CFR 1805.102); and (iii) an award through the TA Component of the
CDFI Program or the Native Initiatives Funding Programs, but only to
the extent that the activities approved for a FA award are different
from those for which the Applicant receives a TA or a Native
Initiatives Funding Program award.
5. 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, or 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''); and
(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/Supplemental Information.
B. Matching Funds
1. Matching Funds Requirements in General: Applicants responding to
this NOFA must obtain non-Federal matching funds from sources other
than the Federal government on the basis of not less than one dollar
for each dollar of FA funds provided by the Fund (matching funds are
not required for TA grants). Matching funds must be at least comparable
in form and value to the FA award provided by the Fund (for example, if
an Applicant seeks an FA grant from the Fund, the Applicant must obtain
matching funds through grant(s) from non-Federal sources that are at
least equal to the amount requested from the Fund). Funds used by an
Applicant as matching funds for a prior FA award under the CDFI Program
or under another Federal grant or award program cannot be used to
satisfy the matching funds requirement of this NOFA. If an Applicant
seeks to use as matching funds monies received from an organization
that was a prior Awardee under the CDFI Program, the Fund will deem
such funds to be Federal funds, unless the funding entity establishes
to the reasonable satisfaction of the Fund that such funds do not
consist, in whole or in part, of CDFI Program funds or other Federal
funds. For the purposes of this NOFA, BEA Program awards are not deemed
to be Federal funds and are eligible as matching funds.
2. Matching Funds Requirements Per Applicant Category: Due to
funding constraints and the desire to quickly deploy Fund dollars, the
Fund will not consider for an FA award any Applicant that does not
demonstrate any matching funds committed or in-hand as of the
application deadline under this NOFA. Specifically, FA Applicants must
meet the following matching funds requirements:
(a) Category I/SECA Applicants: The Fund expects Category I/SECA
Applicants to demonstrate eligible matching funds equal to no less than
30 percent of the amount of the FA award requested in-hand or firmly
committed as of the application deadline. Matching funds in-hand
(received) or firm commitments for matching funds made, on or after
January 1, 2003, and on or before April 30, 2006, will be considered
when determining matching funds eligibility. The Fund reserves the
right to rescind all or a portion of an FA award and re-allocate the
rescinded award amount to other qualified Applicant(s), if an Applicant
fails to obtain in-hand the required matching funds by April 30, 2006
(with required documentation of such receipt received by the Fund not
later than May 12, 2006, or to grant an extension of such matching
funds deadline for specific Applicants selected to receive FA, if the
Fund deems it appropriate. For any Applicant that demonstrates that it
has less than 100 percent of matching funds in-hand or firmly committed
as of the application deadline, the Fund will evaluate the Applicant's
ability to raise the remaining matching funds by April 30, 2006.
(b) Category II/Core Applicants: The Fund expects that FA award
amounts will not exceed 100 percent of eligible matching funds
demonstrated in the application as in-hand or firmly committed as of
the application deadline. Matching funds in-hand (received) or firm
commitments for matching funds made on or after January 1, 2003, and on
or before April 30, 2006, will be considered when determining matching
funds eligibility. The Fund reserves the right to rescind all or a
portion of an FA award and re-
[[Page 65251]]
allocate the rescinded award amount to other qualified Applicant(s), if
an Applicant fails to obtain in-hand the required matching funds by
April 30, 2006 (with required documentation of such receipt received by
the Fund not later than May 12, 2006), or to grant an extension of such
matching funds deadline for specific Applicants selected to receive FA,
if the Fund deems it appropriate.
3. Matching Funds Terms Defined. For purposes of this NOFA,
``matching funds in-hand'' means that the Applicant has actually
received the matching funds and has documentation (such as a copy of a
check) to evidence such receipt; ``firm commitment for matching funds''
means that the Applicant has entered into or received a legally binding
commitment from the matching funds source that the matching funds have
been committed to be disbursed to the Applicant and the Applicant has
documentation (such as a copy of a loan agreement, promissory note or
grant agreement) to evidence such firm commitment. The Fund encourages
Applicants to review the Interim Rule at 12 CFR 1805.500 et seq. and
guidance materials on the Fund's Web site for more information on
eligible matching funds.
4. Special Rule for Insured Credit Unions. Please note that the
Interim Rule allows an Insured Credit Union to use retained earnings to
serve as matching funds for an FA grant in an amount equal to: (i) The
increase in retained earnings that have occurred over the Applicant's
most recent fiscal year; (ii) the annual average of such increases that
have 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 or such other financial measure as may be
specified by the Fund. 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 that is equal to the amount of
retained earnings that is committed as matching funds. This amount must
be raised by April 30, 2006, and will be based on amounts reported in
the Applicant's Audited or Reviewed Financial Statements or NCUA Form
5300 Call Report.
IV. Application and Submission Information
A. Form of Application Submission
Applicants may submit applications under this NOFA either (i)
partially electronically (via an Internet-based application) and
partially in paper form or (ii) entirely 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. In order
to expedite application review, the Fund requires advance notification
for applications submitted entirely in paper form ((ii), above). If an
applicant is unable to submit a partially electronic and partially
paper application, it must submit to the Fund a request for a complete
paper application using the FA Component Paper Application Notification
Form; the request must be received by the Fund no later than 5 p.m. ET
on February 11, 2005. The Paper Application Notification Form may be
obtained from the Fund's Web site at http://www.cdfifund.gov or the form may be requested by e-mail to paper--request@cdfi.treas.gov or by
facsimile to (202) 622-7754. The completed Paper Application
Notification Form should be directed to the Fund's Chief Information
Officer and must be sent by facsimile to (202) 622-7754.
B. Paper Applications
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 e-mail at cdfihelp@cdfi.treas.gov; or by facsimile at (202) 622-
7754. These are not toll free numbers.
C. Application Content Requirements
Detailed application content requirements are found in the FY 2005
application and guidance. Please note that, 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), 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.
D. 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
``Frequently Asked Questions'' link posted at https://www.cdfifund.gov/myCDFI/Help/Help.asp
.
E. 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.
1. Electronic Submissions: Electronic submission of certain parts
of the application (as described in the application) must be received
by the Fund via the Applicant's myCDFIFund account and in accordance
with the instructions provided on the Fund's Web site, by 5 p.m. ET on
February 24, 2005. In addition, the required paper portions of the
application (including the original signature page, a DUNS number, a
letter or other documentation from the Internal Revenue Service
confirming the Applicant's EIN, and all other required paper portions)
must be received at the address set forth below by 5 p.m. ET on
February 24, 2005. Paper portions of the application must be sent to:
CDFI Fund Grants Management and Compliance Manager, FA 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. Paper portions
received in the Fund's offices will be rejected and returned to the
sender. Paper portions must be submitted in the format and number of
copies specified in the application instructions.
2. Paper submissions: A complete paper application must be received
at the address set forth below by 5 p.m. ET on February 24, 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 paper
attachments. Paper applications must be submitted in the format and
with the number of copies specified in the application instructions.
Paper applications must be sent to: CDFI Fund Grants Management and
Compliance Manager, FA Component, Bureau of Public Debt, 200 Third
Street, Room 10, Parkersburg, WV 26101. The telephone
[[Page 65252]]
number to be used in conjunction with overnight delivery or mailings to
this address is (304) 480-5450. Paper applications received in the
Fund's offices will be rejected and returned to the sender.
1. 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.
D. Intergovernmental Review
Not applicable.
E. Funding Restriction
For allowable uses of FA award proceeds, please see the Interim
Rule at 12 CFR 1805.301.
V. Application Review Information
A. Criteria
The Fund will evaluate each application using numeric scores with
respect to the following three sections:
1. Market Need and Community Development Performance Section,
including an evaluation of Market Need, Product Design and
Implementation Strategy, and Community Development Performance/Impact:
(a) Market Need: including: (i) The Applicant's understanding of
its market and its current and prospective customers; (ii) the extent
of economic distress within the designated Investment Area(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, or the extent of need within the
designated Targeted Population(s); (iii) the extent of need for Equity
Investments, loans, Development Services, and Financial Services within
the designated Target Market; (iv) the extent of demand within the
Target Market for the Applicant's products and services; and (v) the
Applicant's business strategy for addressing demand through its Equity
Investments, loans, Development Services, and Financial Services. The
Fund, in its sole discretion, may reduce the score and/or amount of
funding of an Applicant that serves a Target Market that is well served
by one or more other CDFIs that have received awards from the Fund if
the Applicant, in the Fund's determination, does not adequately
demonstrate a distinct market niche not served by other local CDFIs.
(i) Priority points for Hot Zones: The Fund will award priority
points in the Market Need subsection as follows:
------------------------------------------------------------------------
If the Applicant projects that
the following percentage of its Then it will receive the following
activities will be in one or more percentage of priority points
Hot Zones
------------------------------------------------------------------------
75 percent or more............... 100 percent.
50 percent to less than 75 75 percent.
percent.
25 percent to less than 50 50 percent.
percent.
10 percent to less than 25 25 percent.
percent.
------------------------------------------------------------------------
For purposes of this NOFA, Hot Zones are subsets of Investment
Areas that are identified and further described (along with the Fund's
methodology for Hot Zone designation) at the Fund's Web site at http://www.cdfifund.gov
.
(ii) Priority points for severe economic distress and unmet need in
non-Metropolitan markets: The Fund will award priority points in the
Market Need subsection to an Applicant that proposes to deploy a
substantial majority of the requested FA award in one or more non-
Metropolitan markets in which it demonstrates quantitative and/or
qualitative evidence of severe economic distress and unmet need for
Financial Products and Financial Services. The Priority Points will be
allocated as follows:
------------------------------------------------------------------------
If the Applicant projects that
the following percentage of its
activities will be in one or Then it will receive the following
markets meeting the criteria in percentage of priority points
this sub-section
------------------------------------------------------------------------
75 percent or more............... 100 percent.
50 percent to less than 75 75 percent.
percent.
25 percent to less than 50 50 percent.
percent.
10 percent to less than 25 25 percent.
percent.
------------------------------------------------------------------------
(b) Product Design and Implementation Strategy: including: (i) An
assessment of the Applicant's products and services, marketing and
outreach efforts, and delivery strategy (including the Applicant's
track record in community development and serving the Target Market);
(ii) the extent to which the Applicant will provide products that meet
key community development needs; and (iii) the extent, quality and
nature of coordination with other Financial Service providers,
government agencies, and other key community development participants.
(c) Community Development Performance/Impact: including: (i) The
Applicant's track record and the likelihood of its projections for
community development impact, including the extent to which the
Applicant will concentrate its activities on serving its Target Market,
and the extent to which the activities proposed in the Comprehensive
Business Plan will expand economic opportunities or promote community
development within the designated Target Market; (ii) likely
effectiveness of the proposed use of Fund dollars, including the
following: (A) an evaluation of the Applicant's effective use of prior
Fund awards; (B) the Applicant's need for the requested FA award to
achieve the activities proposed in its application; and (C) the impact
of the Applicant's projected activities; and (iii) the Applicant's
track record and projected level of deployment of resources in the form
of Financial Products.
(d) Additional considerations: (i) in the case of an Applicant that
has previously received funding from the Fund through the BEA Program,
CDFI Program, the NACD Program, the NACTA Program or the NACA Program,
the Fund will consider the extent and
[[Page 65253]]
effectiveness to which the Applicant has used such prior assistance
from the Fund and the community development impact that will be created
with new Fund assistance over and above benefits created by prior Fund
assistance. (ii) the Fund will take into consideration the Community
Reinvestment Act (CRA) rating of any Applicant that is an Insured
Depository Institution or Depository Institution Holding Company. The
Fund will not approve a FA award to any Applicant that does not
currently have at least a ``Satisfactory'' CRA rating.
2. Management and Underwriting Section, including an evaluation of:
(a) Portfolio quality: the Applicant's underwriting and portfolio
quality;
(b) Management controls: risk mitigation strategies and financial
management; and
(c) Management team: The capacity, skills and experience of the
Applicant's management team as appropriate to deliver the proposed
products and services and manage compliance with the Fund's reporting
requirements. An Applicant's performance in reporting on prior awards
with the Fund will be considered in evaluating management.
3. Financial Health and Viability Section, including an evaluation
of:
(a) Financial track record: The Applicant's liquidity and other
elements of financial strength, including earnings and capital
adequacy;
(b) Financial projections: The Applicant's projected financial
health, including its ability to raise operating support from sources
other than the Fund, and its capitalization strategy; and
(c) Safety and Soundness: The Fund will not approve a FA award to
any Insured Credit Union (other than a State-Insured Credit Union) or
Insured Depository Institution Applicant that has a CAMEL rating that
is higher than a ``3'' or for which its Appropriate Federal Banking
Agency indicates it has safety and soundness concerns, unless the
Appropriate Federal Banking Agency asserts, in writing, that: (i) An
upgrade to a CAMEL 3 rating or better (or other improvement in status)
is imminent and such upgrade is expected to occur not later than
September 30, 2005 or within such other time frame deemed acceptable by
the Fund, or (ii) the safety and soundness condition of the Applicant
is adequate to undertake the activities for which the Applicant has
requested a FA award and the obligations of an Assistance Agreement
related to such a FA award.
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 multiple readers. Readers may include Fund staff and other
experts in community development finance. As part of the review
process, the Fund may contact the Applicant by telephone 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.
Category I/SECA and Category II/Core Applicants will be ranked
separately.
(i) Under Category I/SECA, the Market Need and Community
Development Performance section will account for 50 percent of the
available points while the Management and Underwriting section and the
Financial Health and Viability section will each account for 25 percent
of the available points. Category I/SECA Applicants will be ranked
based on the total scores of all three sections added together.
(ii) Category II/Core Applicants must receive a score in both the
Management and Underwriting Section and the Financial Health and
Viability Section that is equal to 50 percent of the available points
in each of those sections to be considered for funding. For Category
II/Core Applicants that exceed this threshold, the Fund will use the
Market Need and Community Development Performance scores to rank
Applicants for selection for funding.
For all applicants, the Fund will award funding in the order of the
ranking.
The Fund will consider the institutional and geographic diversity
of Applicants in making its funding decisions.
In the case of an Applicant that has previously received funding
from the Fund through any Fund program, the Fund will consider and will
deduct points for: (i) The Applicant's noncompliance with any active
award or award that terminated in calendar year 2004 (meaning the last
fiscal year end on which the Awardee reported was 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 February 22,
2005. The Fund will not respond to reporting or compliance phone calls
or e-mail inquiries that are received after 5 p.m. on February 22, 2005
until after the funding application deadline of February 24, 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.
All Applicants that are not selected for awards based on reasons other
than completeness or eligibility issues will be provided a written
debriefing on the strengths and weaknesses of their applications. This
feedback will be provided in a format and within a
[[Page 65254]]
timeframe to be determined by the Fund, based on available resources.
The Fund will notify Awardees by e-mail 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 Web
site.
There is no right to appeal the Fund's award decisions. The Fund's
award decisions are final.
VI. 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 of 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 programand 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 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
[[Page 65255]]
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 type of
award; (iii) the approved uses of the award; (iv) the approved Target
Market to which the funded activity must be targeted; (v) performance
goals and measures; and (vi) reporting requirements for all Awardees.
Assistance Agreements under this NOFA will generally have three-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 either (i) in the form of a loan, equity
investment, credit union shares/deposits, or secondary capital, in any
amount, or (ii) a FA grant in an amount greater than $500,000, must
furnish to the Fund an opinion from its legal counsel, the content of
which will be specified in the Assistance Agreement, to include, among
other matters, an opinion that the Awardee: (A) Is duly formed and in
good standing in the jurisdiction in which it was formed and/or
operates; (B) has the authority to enter into the Assistance Agreement
and undertake the activities that are specified therein; and (C) has no
pending or threatened litigation that would materially affect its
ability to enter into and carry out the activities specified in the
Assistance Agreement. Each other Awardee 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;
(iv) Financial Status Report (for Awardees receiving TA); (v) Uses of
Financial Assistance and Matching Funds Report; (vi) Explanation of
Noncompliance (as applicable); and (vii) 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
the 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 FA
and TA awards through this NOFA to account for and track the use of
said FA and TA awards. This means that for every dollar of FA and 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. Each Awardee
that receives a FA award must establish a separate bank account for the
FA funds and provide the Fund with the required complete and accurate
Automated Clearinghouse (ACH) form for that separate bank account prior
to award closing and disbursement.
VII. 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 of this NOFA through
February 22, 2005. The Fund will not respond to questions or provide
support concerning the application that are received after 5 p.m. ET on
February 22, 2005, until after the funding application deadline of
February 24, 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
[[Page 65256]]
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 e-mail 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, e-mail 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
.
VIII. 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 2, 2004.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
[FR Doc. 04-24986 Filed 11-9-04; 8:45 am]
BILLING CODE 4810-70-P