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Overview
Below you will find links to webpages containing information on how awards
and allocations are announced, and information on post award or allocation
processes such as closing your award or allocation, disbursement and reporting
requirements.
For information on applying for an award see Steps 1 and 2 of Information
for Applicants.
Step 3 - Award Announcement
After the CDFI Fund completes its competitive review process and the successful
applicants are selected, the Fund will announce the names of the successful
applicants at a press event or by issuing a press release. The Fund makes this
information immediately available to the public through its website and to
the press (both mainstream and trade) by e-mail.
Simultaneously to the public announcement, all successful applicants are notified
directly by the Fund's Grants Management
office via e-mail of their selection
and are asked to review, sign and return a Notice of Award or Allocation within
a specified amount of time acknowledging acceptance of the award or allocation.
Successful applicants are also provided guidance on obtaining local press coverage
of their award.
The Fund also notifies the unsuccessful applicants by e-mail the day of the
announcement and explains the debriefing process.
Step 4 - Closing and Disbursement
The purpose of the closing process is to finalize the terms and conditions
underlying the assistance or allocation provided by the CDFI Fund to the successful
applicant (CDFI and NACA awardees and NMTC allocatees. Does not apply to BEA
awardees.). These terms and conditions are set forth in an Assistance Agreement
or Allocation Agreement
and are entered
into
by
each awardee and allocatee. The Assistance Agreement contains standard terms
and conditions for all awardees/allocatees as well as terms and conditions
that are specific to each awardee/allocatee. The Assistance Agreement or Allocation
Agreement must be agreed to and signed by both the CDFI Fund and the awardee/allocatee
before the CDFI Fund can disburse any award dollars to an awardee or an allocatee
can utilize its allocation of tax credits.
During this process the awardee/allocatee will primarily work with a member
of the Fund's Program staff who is assigned to the organization and
is familiar with its application. Each awardee/allocatee
will also work with a member of the CDFI Fund's Legal Counsel staff to
finalize the Agreement and on any related legal matters. In addition, the awardee/allocatee
may also need to work with members of the Grants Management and Financial Management
staffs.
Please visit the following pages for more detailed information on:
 
Step 5 - Post Award Reporting
Compliance Monitoring and Evaluation
The CDFI Fund monitors and evaluates whether CDFI Program awards, NACA Program
awards and NMTC allocations are properly expended and/or utilized by awardees
and allocatees. Specifically, the Fund's Compliance
Monitoring and Evaluation (CME) unit accomplishes this by monitoring an
awardee's or allocatee's compliance with its Assistance or Allocation Agreement,
respectively.
The CME unit reviews, evaluates and determines each awardee's or allocatee's
compliance status (Compliant or Noncompliant) by assessing if the organization
has met all of its reporting requirements, including the timely submission
of all reports, and is meeting the benchmarks of its Performance Goals. An
awardee's or allocatee's compliance status is very important as
it may affect its future funding eligibility or disbursements.
The CDFI Fund currently has two web-based data collection systems for awardees
and allocatees to submit required data and reports.
The Community Investment Impact System - or CIIS - enables awardees
or allocatees to submit their annual Institution Level Report (ILR) and Transaction
Level Report (TLR) to the CDFI Fund. They may also submit required Financial
Reports through CIIS.
The Allocation Tracking System - or ATS - enables NMTC allocatees
to report on receipt of Qualified Equity Investments (QEIs) from investors.
Please visit the following pages for more detailed information on:
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