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Notice2022-02902

Notice of Funds Availability

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Published

February 11, 2022

Issuing agencies

Treasury DepartmentCommunity Development Financial Institutions Fund

Abstract

Through the CDFI Program, the CDFI Fund provides (i) FA awards of up to $1 million to Certified Community Development Financial Institutions (CDFIs) to build their financial capacity to lend to Eligible Markets and/or their Target Markets, and (ii) TA grants of up to $125,000 to build Certified, and Emerging CDFIs' organizational capacity to serve Eligible Markets and/or their Target Markets. All awards provided through this NOFA are subject to funding availability. ---------------------------------------------------------------------------

Full Text

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<title>Federal Register, Volume 87 Issue 29 (Friday, February 11, 2022)</title>
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[Federal Register Volume 87, Number 29 (Friday, February 11, 2022)]
[Notices]
[Pages 8085-8107]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-02902]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Notice of Funds Availability

Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for Financial Assistance (FA) awards or Technical
Assistance (TA) grants under the Community Development Financial
Institutions Program (CDFI Program) fiscal year (FY) 2022 Funding
Round.
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2022-FATA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.
Dates:

Table 1--FY 2022 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (Eastern Time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards March 14, 2022.............. 11:59 p.m. ET............... AMIS.
Management Information Systems
(AMIS) Account (all Applicants).
Last day to enter EIN and DUNS March 14, 2022.............. 11:59 p.m. ET............... AMIS.
numbers in AMIS (all
Applicants).
Last day to submit SF-424 March 14, 2022.............. 11:59 p.m. ET............... Electronically via
Mandatory (Application for <a href="http://Grants.gov">Grants.gov</a>.
Federal Assistance).
Last day for Applicants that March 14, 2022.............. 11:59 p.m. ET............... Service Request
meet the SECA requirements, but \1\ via AMIS.
wish to apply for CORE-FA, to
request creation of a Core-FA
Application (if requesting more
than $700,000).
Last day to contact CDFI Program April 8, 2022............... 5:00 p.m. ET................ Service Request
staff. via AMIS. Or CDFI
Fund Helpdesk:
202-653-0421.
Last day to contact AMIS-IT Help April 12, 2022.............. 5:00 p.m. ET................ Service Request
Desk (regarding AMIS technical via AMIS. Or 202-
problems only). 653-0422. Or
<a href="/cdn-cgi/l/email-protection#c6878b8f9586a5a2a0afe8b2b4a3a7b5e8a1a9b0">[email&#160;protected]</a>.
Last day to submit CDFI Program April 12, 2022.............. 11:59 p.m. ET............... AMIS.
Application for Financial
Assistance (FA) or Technical
Assistance (TA).
----------------------------------------------------------------------------------------------------------------

Executive Summary: Through the CDFI Program, the CDFI Fund provides
(i) FA awards of up to $1 million to Certified Community Development
Financial Institutions (CDFIs) to build their financial capacity to
lend to Eligible Markets and/or their Target Markets, and (ii) TA
grants of up to $125,000 to build Certified, and Emerging CDFIs'
organizational capacity to serve Eligible Markets and/or their Target
Markets. All awards provided through this NOFA are subject to funding
availability.
---------------------------------------------------------------------------

\1\ Service Request shall mean a written inquiry or notification
submitted to the CDFI Fund via AMIS.
---------------------------------------------------------------------------

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development Banking and Financial Institutions Act of 1994 to promote
economic revitalization and community development through investment in
and assistance to CDFIs. The CDFI Program made its first awards in 1996
and the Native American CDFI Assistance (NACA) Program made its first
awards in 2002.
B. Priorities: Through the CDFI Program's FA awards and TA grants,
the CDFI Fund invests in and builds the

[[Page 8086]]

capacity of for-profit and non-profit community based lending
organizations known as CDFIs. These organizations, certified as CDFIs
by the CDFI Fund, serve rural and urban Low-Income people, and
communities across the nation that lack adequate access to affordable
Financial Products and Financial Services.
C. Authorizing Statutes and Regulations: The CDFI Program is
authorized by the Riegle Community Development Banking and Financial
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.)
(Authorizing Statute). The regulations governing the CDFI Program are
found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth
evaluation criteria and other program requirements. The CDFI Fund
encourages Applicants to review the Regulations; this NOFA; the CDFI
Program Application for Financial Assistance or Technical Assistance
(the Application); all related materials and guidance documents found
on the CDFI Fund's website (Application materials); and the Uniform
Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (2 CFR part 1000), which is the Department of the
Treasury's codification of the Office of Management and Budget (OMB)
government-wide framework for grants management at 2 CFR part 200 (the
Uniform Requirements) for a complete understanding of the program.
Capitalized terms in this NOFA are defined in the Authorizing Statute,
the Regulations, this NOFA, the Application, Application materials, or
the Uniform Requirements. Details regarding Application content
requirements are found in the Application and Application materials.
D. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 1000): The Uniform
Requirements codify financial, administrative, procurement, and program
management standards that Federal award agencies must follow. When
evaluating Applications, awarding agencies must evaluate the risks
posed by each Applicant, and each Applicant's merits and eligibility.
These requirements are designed to ensure that Applicants for Federal
assistance receive a fair and consistent review prior to an award
decision. This review will assess items such as the Applicant's
financial stability, quality of management systems, the soundness of
its business plan, history of performance, ability to achieve
measurable impacts through its products and services, and audit
findings. In addition, the Uniform Requirements include guidance on
audit requirements and other award compliance requirements for
Recipients.
E. Funding limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA.

II. Federal Award Information

A. Funding Availability:
1. FY 2022 Funding Round: The CDFI Fund expects to award, through
this NOFA, approximately $188 million as indicated in the following
table:

Table 2--FY 2022 Funding Round Anticipated Category Amounts
--------------------------------------------------------------------------------------------------------------------------------------------------------
Award Amount Estimate
Estimated ------------------------------------------------ Estimated average Average
Funding categories (see definition in Table 7 total amount number of amount amount
for TA or Table 8 for FA) to be awarded Minimum \2\ Maximum awards for awarded in awarded in
(millions) FY 2022 FY 2022 FY 2021
--------------------------------------------------------------------------------------------------------------------------------------------------------
Base-FA: Category I/Small and/or Emerging CDFI $20 $125,000........................ $700,000 68 $294,000 $292,000
Assistance (SECA).
Base-FA: Category II/Core..................... 100 500,000, or if portfolio 1,000,000 180 555,000 552,000
outstanding is less than
$1,666,700 as of the most
recent historic fiscal year
end, then 30% of portfolio
outstanding.
Persistent Poverty Counties--Financial 19 100,000......................... 300,000 125 152,000 149,000
Assistance (PPC-FA).
Disability Funds--Financial Assistance (DF-FA) 6 100,000......................... 500,000 14 429,000 429,000
*.
TA............................................ 20 10,000.......................... 125,000 160 125,000 125,000
Healthy Food Financing Initiative--Financial 23 500,000......................... 5,000,000 10 2,300,000 2,300,000
Assistance (HFFI-FA) *.
---------------------------------------------------------------------------------------------------------
Total..................................... 188 ................................ ............ 571 ............ ............
--------------------------------------------------------------------------------------------------------------------------------------------------------
* DF-FA and HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program NOFAs.

The CDFI Fund reserves the right to award more or less than the
amounts cited above in each category, based upon available funding and
other factors, as appropriate.
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\2\ The FA Application Guidance defines ``the most recent
historic fiscal year'' based on an Applicant's fiscal year end.
---------------------------------------------------------------------------

2. Funding Availability for the FY 2022 Funding Round: Funds for
the FY 2022 Funding Round are subject to change based on passage of a
final FY 2022 budget; if Congress does not appropriate funds for the
CDFI Program there will not be an FY 2022 Funding Round. If funds are
appropriated, the amount of such funds may be greater or less than the
amounts set forth above. The CDFI Fund reserves the right to contact
applicants to seek additional information in the event that final FY
2022 appropriations for the CDFI Program change any of the requirements
of this NOFA. As of the date of this NOFA, the CDFI Fund is operating
under a continuing funding resolution as enacted by the Further
Extending Government Funding Act (Pub. L. 117-70).
3. Anticipated Start Date and Period of Performance: The Period of
Performance for TA grants begins with the date of the award
announcement and includes either (i) an Emerging CDFI Recipient's three
full consecutive fiscal years after the date of the award announcement,
or (ii) a Certified CDFI Recipient's two full consecutive fiscal years
after the date of the award announcement, during which the Recipient
must meet the Performance Goals and Measures (PG&Ms) set forth in the
Assistance Agreement. The Period of Performance for FA awards begins
with the date of the award announcement and includes a Recipient's
three full consecutive fiscal years after the date of the award
announcement, during which time the Recipient must meet the PG&Ms set
forth in the Assistance Agreement.

[[Page 8087]]

B. Types of Awards: Through the CDFI Program, the CDFI Fund
provides two types of awards: Financial Assistance (FA) and Technical
Assistance (TA) awards. An Applicant may submit an Application for a TA
grant or an FA award under the CDFI Program, but not both. FA Awards
include the Base Financial Assistance (Base-FA) award and the following
awards that are provided as a supplement to the Base-FA award: Healthy
Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent
Poverty Counties-Financial Assistance (PPC-FA), and Disability Funds-
Financial Assistance (DF-FA). The HFFI-FA, PPC-FA, and DF-FA
Applications will be evaluated independently from the Base-FA
Application, and will not affect the Base-FA Application evaluation or
Base-FA award amount.
However, Applicants that qualify for the NACA Program may submit
two Applications: One Application (either for a TA grant or an FA
award, but not both) through the CDFI Program, and one Application
(either for a TA grant or an FA award, but not both) through the NACA
Program. NACA qualified Applicants that choose to apply for awards
through both the CDFI Program and the NACA Program may either apply for
the same type of award under each Program or for a different type of
award under each Program. NACA qualified FA Applicants that choose to
apply for an FA award under both the NACA Program and CDFI Program and
are selected for an award under both Programs will be provided the FA
award under the CDFI Program. NACA qualified TA Applicants that choose
to apply for a TA award under both the NACA Program and CDFI Program
and are selected for an award under both Programs will be provided the
TA award under the NACA Program. NACA qualified Applicants that choose
to apply for a TA award and a FA award under separate programs and are
selected for an award under both Programs will be provided the larger
of the two awards. NACA Applicants cannot receive an award under both
Programs within the same funding round.
Category II (Core) FA Applicants applying for Base-FA, PPC-FA, and/
or DF-FA must provide evidence of acceptable Matching Funds \3\ (see
Table 9 for more information), except Native American CDFIs \4\
applying under this NOFA, which are exempt from the Matching Funds
requirement.\5\ Native American CDFIs that qualify as a Category II
(Core) FA Applicant are not required to submit Matching Funds for their
award requests. Additionally, the Matching Funds requirement for HFFI-
FA and SECA FA Applicants was waived in the enacted FY 2021
Consolidated Appropriations Act, and the final FY 2022 appropriations
are still pending for this funding round. Therefore, HFFI-FA and SECA
FA Applicants are not required to submit Matching Funds for their award
requests at the time of Application. However, the CDFI Fund reserves
the right to request Matching Funds from SECA FA Applicants and/or
HFFI-FA Applicants if Matching Funds are not waived in the final FY
2022 CDFI Program appropriations. TA Applicants are not required to
provide Matching Funds.
---------------------------------------------------------------------------

\3\ Matching Funds shall mean funds from sources other than the
Federal government as defined in accordance with the CDFI Program
Regulations at 12 CFR 1805.500.
\4\ A Native American CDFI (Native CDFI) is one that Primarily
Serves a Native Community. Primarily Serves is defined as 50% or
more of an Applicant's activities being directed to a Native
Community. For purposes of this NOFA, a Native Community is defined
as Native American, Alaska Native, or Native Hawaiian populations or
Native American areas defined as Federally-designated reservations,
Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-
designated Tribal Statistical Areas.
\5\ The Indian Community Economic Enhancement Act of 2020 (Pub.
L. 116-261) permanently waives the Matching Funds requirement for
Native American CDFIs that receive Assistance from the CDFI Fund.
---------------------------------------------------------------------------

1. Base-FA Awards: Base-FA awards can be in the form of loans,
grants, Equity Investments, deposits and credit union shares. The form
of the Base-FA award is based on the form of the Matching Funds that
the Applicant includes in its Application, unless Congress waived the
Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the Base-FA
award will be in the form of a grant for Native American CDFI
Applicants. Matching Funds are required at the time of Application
submission for Category II (Core) Applicants (except Native American
CDFIs) applying for Base-FA awards, and the CDFI Fund reserves the
right to request Matching Funds from Category I (SECA) Applicants
applying for Base FA awards if Matching Funds are not waived in the
final FY 2022 appropriations for these Applicants. Matching Funds must
be from non-Federal sources, and cannot have been used as Matching
Funds for any other Federal award. The CDFI Fund reserves the right, in
its sole discretion, to provide a Base-FA award in an amount other than
that which the Applicant requests; however, the award amount will not
exceed the Applicant's award request as stated in its Application.
2. Persistent Poverty Counties--Financial Assistance (PPC-FA)
Awards: PPC-FA awards will be provided as a supplement to Base-FA
awards; therefore, only those Applicants that are selected to receive a
Base-FA award through the CDFI Program FY 2022 Funding Round will be
eligible to receive a PPC-FA award. PPC-FA awards can be in the form of
loans, grants, Equity Investment, deposits and credit union shares. The
form of the PPC-FA award is based on the form of the Matching Funds
that the Applicant includes in its Application, unless Congress waived
the Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the PPC-FA
award will be in the form of a grant for Native American CDFI
Applicants. Matching Funds are required at the time of Application
submission for Category II (Core) Applicants (except Native American
CDFIs) applying for PPC-FA awards, and the CDFI Fund reserves the right
to request Matching Funds from Category I (SECA) Applicants applying
for PPC-FA awards if Matching Funds are not waived in the final FY 2022
appropriations for these Applicants. Matching Funds must be from non-
Federal sources, and cannot have been used as Matching Funds for any
other Federal award. The CDFI Fund reserves the right, in its sole
discretion, to provide a PPC-FA award in an amount other than that
which the Applicant requests; however, the award amount will not exceed
the Applicant's award request as stated in its Application.
3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA
awards will be provided as a supplement to Base-FA awards; therefore,
only those Applicants that have been selected to receive a Base-FA
award through the CDFI Program FY 2022 Funding Round will be eligible
to receive a DF-FA award. DF-FA awards can be in the form of loans,
grants, Equity Investments, deposits and credit union shares. The form
of the DF-FA award is based on the form of the Matching Funds that the
Applicant includes in its Application, unless Congress waived the
Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the DF-FA
award will be in the form of a grant for Native American CDFI
Applicants. Matching Funds are required for Category II (Core)
Applicants (except Native American

[[Page 8088]]

CDFIs) applying for DF-FA awards, and the CDFI Fund reserves the right
to request Matching Funds from Category I (SECA) Applicants applying
for PPC-FA awards if Matching Funds are not waived in the final FY 2022
appropriations for these Applicants. Matching Funds must be from non-
Federal sources, and cannot have been used as Matching Funds for any
other Federal award. The CDFI Fund reserves the right, in its sole
discretion, to provide a DF-FA award in an amount other than that which
the Applicant requests; however, the award amount will not exceed the
Applicant's award request as stated in its Application.
4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA
awards; therefore, only those Applicants that have been selected to
receive a Base-FA award through the CDFI Program FY 2022 Funding Round
will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in
the form of loans, grants, Equity Investments, deposits and credit
union shares. The form of the HFFI-FA award is based on the form of the
Matching Funds that the Applicant includes in its Application, unless
Congress waived the Matching Funds requirement. The Matching Funds
requirement was permanently waived for Native American CDFIs.
Therefore, HFFI-FA awards will be in the form of a grant for Native
American CDFI Applicants. The Matching Funds requirement for HFFI-FA
Applicants was waived in the final appropriations bill for FY 2021, and
the final appropriations are still pending for this funding round. As a
result, HFFI-FA Applicants are not required to submit Matching Funds
for their award requests at the time of Application. However, the CDFI
Fund reserves the right to request Matching Funds from HFFI-FA
Applicants if Matching Funds are not waived in the final FY 2022 CDFI
Program appropriations. The CDFI Fund reserves the right, in its sole
discretion, to provide an HFFI-FA award in an amount other than that
which the Applicant requests; however, the award amount will not exceed
the Applicant's award request as stated in its Application.
5. TA Grants: TA is provided in the form of grants. The CDFI Fund
reserves the right, in its sole discretion, to provide a TA grant in an
amount other than that which the Applicant requests; however, the TA
grant amount will not exceed the Applicant's request as stated in its
Application.
C. Eligible Activities:
1. FA Awards: Base-FA, PPC-FA, DF-FA, and HFFI-FA award funds may
be expended for activities serving Commercial Real Estate, Small
Business, Microenterprise, Community Facilities, Consumer Financial
Products, Consumer Financial Services, Commercial Financial Products,
Commercial Financial Services, Affordable Housing, Intermediary Lending
to Non-Profits and CDFIs, and other lines of business as deemed
appropriate by the CDFI Fund in the following five categories: (i)
Financial Products; (ii) Financial Services; (iii) Loan Loss Reserves;
(iv) Development Services; and (v) Capital Reserves. The FA Budget is
the amount of the award and must be expended in the five eligible
activity categories prior to the end of the Budget Period.\6\ None of
the eligible activity categories will be authorized for Indirect Costs
or an associated Indirect Cost Rate. Base-FA Recipients must meet
PG&Ms, which will be derived from projections and attestations provided
by the Applicant in its Application, to achieve one or more of the
following FA Objectives: (i) Increase Volume of Financial Products in
an Eligible Market(s) and/or in the Applicant's approved Target Market
and/or Increase Volume of Financial Services in an Eligible Market(s)
and/or in the Applicant's approved Target Market; (ii) Serve Eligible
Market(s) or the Applicant's approved Target Market in New Geographic
Area or Areas; (iii) Provide New Financial Products in an Eligible
Market(s) and/or in the Applicant's approved Target Market, Provide New
Financial Services in an Eligible Market(s) and/or in the Applicant's
approved Target Market, or Provide New Development Services in an
Eligible Market(s) and/or in the Applicant's approved Target Market;
and (iv) Serve New Targeted Population or Populations. FA awards may
only be used for Direct Costs associated with an eligible activity; no
indirect expenses are allowed. Up to 15% of the FA award may be used
for Direct Administrative Expenses associated with an eligible FA
activity. ``Direct Administrative Expenses'' shall mean Direct Costs,
as described in section 2 CFR 200.413 of the Uniform Requirements,
which are incurred by the Recipient to carry out the Financial
Assistance. Direct Costs incurred to provide Development Services or
Financial Services do not constitute Direct Administrative Expenses.
---------------------------------------------------------------------------

\6\ Budget Period means the time interval from the start date of
a funded portion of an award to the end date of that funded portion
during which Recipients are authorized to expend the funds awarded.
---------------------------------------------------------------------------

The Recipient must comply, as applicable, with the Buy American Act
of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform
Requirements,\7\ with respect to any Direct Costs. For purposes of this
NOFA, the five eligible activity categories are defined below:
---------------------------------------------------------------------------

\7\ Sec. 200.216 Prohibition on certain telecommunications and
video surveillance services or equipment.
(a) Recipients and Subrecipients are prohibited from obligating
or expending loan or grant funds to:
(1) Procure or obtain;
(2) Extend or renew a contract to procure or obtain; or
(3) Enter into a contract (or extend or renew a contract) to
procure or obtain, equipment, services, or systems that uses covered
telecommunications equipment or services as a substantial or
essential component of any system, or as critical technology as part
of any system. As described in Public Law 115-232, section 889,
covered telecommunications equipment is telecommunications equipment
produced by Huawei Technologies Company or ZTE Corporation (or any
Subsidiary or Affiliate of such entities).

Table 3--Base-FA, PPC-FA, DF-FA, and HFFI-FA Eligible Activity Categories
----------------------------------------------------------------------------------------------------------------
Eligible CDFI institution
FA eligible activity FA eligible activity definition * types
----------------------------------------------------------------------------------------------------------------
i. Financial Products................... FA expended as loans, Equity Investments All.
and similar financing activities (as
determined by the CDFI Fund) including
the purchase of loans originated by
Certified CDFIs and the provision of loan
guarantees. In the case of CDFI
Intermediaries, Financial Products may
also include loans to CDFIs and/or
Emerging CDFIs, and deposits in Insured
Credit Union CDFIs, Emerging Insured
Credit Union CDFIs, and/or State-Insured
Credit Union CDFIs.
For HFFI-FA, however, the purchase of
loans originated by Certified CDFIs, loan
refinancing, or any type of financing for
prepared food outlets are not eligible
activities.

[[Page 8089]]

ii. Financial Services.................. FA expended for providing checking, Regulated Institutions \8\
savings accounts, check cashing, money only. Not applicable for
orders, certified checks, automated HFFI-FA Recipients.
teller machines, deposit taking, safe
deposit box services, and other similar
services.
iii. Loan Loss Reserves................. FA set aside in the form of cash reserves, All.
or through accounting-based accrual
reserves, to cover losses on loans,
accounts, and notes receivable or for
related purposes that the CDFI Fund deems
appropriate.
iv. Development Services................ FA expended for activities undertaken by a All.
CDFI, its Affiliate or contractor that
(i) promote community development and
(ii) prepare or assist current or
potential borrowers or investees to use
the CDFI's Financial Products or
Financial Services. For example, such
activities include financial or credit
counseling; homeownership counseling;
business planning; and management
assistance.
v. Capital Reserves..................... FA set aside as reserves to support the Regulated Institutions
Applicant's ability to leverage other only. Not applicable for
capital, for such purposes as increasing DF-FA.
its net assets or providing financing, or
for related purposes as the CDFI Fund
deems appropriate.
----------------------------------------------------------------------------------------------------------------
* All FA eligible activities must be in an Eligible Market or the Applicant's approved Target Market. Eligible
Market is defined as (i) a geographic area meeting the requirements set forth in 12 CFR 1805.201(b)(3)(ii), or
(ii) individuals that are Low-Income, African American, Hispanic, Native American, Native Hawaiians residing
in Hawaii, Alaska Natives residing in Alaska, or Other Pacific Islanders residing in American Samoa, Guam or
the Northern Mariana Islands.

2. DF-FA Award: DF-FA award funds may only be expended for eligible
FA activities (referenced in Table 3) to directly or indirectly benefit
individuals with disabilities. The DF-FA Recipient must close Financial
Products for the primary purpose of directly or indirectly benefiting
people with disabilities, where the majority of the DF-FA supported
loans or investments benefit individuals with disabilities, in an
amount equal to or greater than 85% of the total DF-FA provided.
Eligible DF-FA financing activities may include, among other
activities, loans to develop or purchase affordable, accessible, and
safe housing; loans to provide or facilitate employment opportunities;
and loans to purchase assistive technology.
---------------------------------------------------------------------------

\8\ Regulated Institutions include Insured Credit Unions,
Insured Depository Institutions, State-Insured Credit Unions and
Depository Institution Holding Companies.
---------------------------------------------------------------------------

For the purposes of DF-FA, a person with a Disability is a person
who has a physical or mental impairment that substantially limits one
or more major life activities, a person who has a history or record of
such an impairment, or a person who is perceived by others as having
such an impairment, as defined by the American Disabilities Act (ADA)
at <a href="https://www.ada.gov/cguide.htm">https://www.ada.gov/cguide.htm</a>.
3. TA Grants: TA grant funds may be expended for the following
seven eligible activity categories: (i) Compensation--Personal
Services; (ii) Compensation--Fringe Benefits; (iii) Professional
Service Costs; (iv) Travel Costs; (v) Training and Education Costs;
(vi) Equipment; and (vii) Supplies. The TA Budget is the amount of the
award and must be expended in the eight eligible activity categories
before the end of the Budget Period. None of the eligible activity
categories will be authorized for Indirect Costs or an associated
Indirect Cost Rate. Any expenses that are prohibited by the Uniform
Requirements are unallowable and are generally found in Subpart E--Cost
Principles. The Recipient must comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of
the Uniform Requirements, with respect to any Direct Costs. For
purposes of this NOFA, the eight eligible activity categories are
defined below:

Table 4--TA Eligible Activity Categories, Subject to the Applicable Provisions of the Uniform Requirements
----------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------
(i) Compensation--Personal Services..................................... TA paid to cover all remuneration,
paid currently or accrued, for
services of Applicant's employees
rendered during the Period of
Performance under the TA grant in
accordance with section 2 CFR 200.430
of the Uniform Requirements.
Any work performed directly but
unrelated to the purposes of the TA
grant may not be paid as Compensation
through a TA grant. For example, the
salaries for building maintenance
would not carry out the purpose of a
TA grant and would be deemed
unallowable.
(ii) Compensation--Fringe Benefits...................................... TA paid to cover allowances and
services provided by the Applicant to
its employees as Compensation in
addition to regular salaries and
wages, in accordance with section 2.
CFR 200.431 of the Uniform
Requirements. Such expenditures are
allowable as long as they are made
under formally established and
consistently applied organizational
policies of the Applicant.
(iii) Professional Service Costs........................................ TA used to pay for professional and
consultant services (e.g., such as
strategic and marketing plan
development), rendered by persons who
are members of a particular
profession or possess a special skill
(e.g., credit analysis, portfolio
management), and who are not officers
or employees of the Applicant, in
accordance with section 2 CFR 200.459
of the Uniform Requirements. Payment
for a consultant's services may not
exceed the current maximum of the
daily equivalent rate paid to an
Executive Schedule Level IV Federal
employee. Professional and consultant
services must build the capacity of
the CDFI. For example, professional
services that provide direct
Development Services to the customers
does not build the capacity of the
CDFI to provide those services and
would not be eligible. The Applicant
must comply, as applicable, with
section 2 CFR 200.216 of the Uniform
Requirements, with respect to payment
of Professional Service Costs.

[[Page 8090]]

(iv) Travel Costs....................................................... TA used to pay costs of
transportation, lodging, subsistence,
and related items incurred by the
Applicant's personnel who are on
travel status on business related to
the TA award, in accordance with
section 2 CFR 200.475 of the Uniform
Requirements. Travel Costs do not
include costs incurred by the
Applicant's consultants who are on
travel status. Any payments for
travel expenses incurred by the
Applicant's personnel but unrelated
to carrying out the purpose of the TA
grant would be deemed unallowable. As
such, documentation must be
maintained that justifies the travel
as necessary to the TA grant.
(v) Training and Education Costs........................................ TA used to pay the cost of training
and education provided by the
Applicant for employees' development
in accordance with section 2 CFR
200.473 of the Uniform Requirements.
TA can only be used to pay for
training costs incurred by the
Applicant's employees. Training and
Education Costs may not be incurred
by the Applicant's consultants.
(vi) Equipment.......................................................... TA used to pay for tangible personal
property, having a useful life of
more than one year and a per-unit
acquisition cost of at least $5,000,
in accordance with section 2 CFR
200.1 of the Uniform Requirements.
For example, items such as office
furnishings and information
technology systems are allowable as
Equipment costs. The Applicant must
comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-
8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to
the purchase of Equipment.
(vii) Supplies.......................................................... TA used to pay for tangible personal
property with a per unit acquisition
cost of less than $5,000, in
accordance with section 2 CFR 200.1
of the Uniform Requirements. For
example, a desktop computer costing
$1,000 is allowable as a Supply cost.
The Applicant must comply, as
applicable, with the Buy American Act
of 1933, 41 U.S.C. 8301-8303 and
section 2 CFR 200.216 of the Uniform
Requirements, with respect to the
purchase of Supplies.
----------------------------------------------------------------------------------------------------------------

4. HFFI-FA Award: HFFI-FA award funds may only be expended for
eligible FA activities referenced in Table 3. The HFFI-FA investments
must comply with the following guidelines:
a. Recipient must close Financial Products for Healthy Food Retail
Outlets and Healthy Food Non-Retail Outlets in its approved Target
Market in an amount equal to or greater than 100% of the total HFFI
Financial Assistance provided. Eligible financing activities to Healthy
Food Retail Outlets and Healthy Food Non-Retail Outlets require that
the majority of the loan or investment be devoted to offering a range
of Healthy Food choices, which may include, among other activities,
investments supporting an existing retail store or wholesale operation
upgrade to offer an expanded range of Healthy Food choices, or
supporting a nonprofit organization that expands the availability of
Healthy Foods in underserved areas.
b. Recipient must demonstrate that it has closed Financial Products
to Healthy Food Retail Outlets located in Food Deserts in the
Recipient's approved Target Market in an amount equal to 75% of the
total HFFI Financial Assistance provided.
Definitions:
Healthy Foods: Healthy Foods include unprepared nutrient-dense
foods and beverages as set forth in the USDA Dietary Guidelines for
Americans 2020-2025 including whole fruits and vegetables, whole
grains, fat free or low-fat dairy foods, lean meats and poultry (fresh,
refrigerated, frozen or canned). Healthy Foods should have low or no
added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See
USDA Dietary Guidelines: <a href="http://www.dietaryguidelines.gov">http://www.dietaryguidelines.gov</a>).
Healthy Food Retail Outlets: Commercial sellers of Healthy Foods
including, but not limited to, grocery stores, mobile food retailers,
farmers markets, retail cooperatives, corner stores, bodegas, stores
that sell other food and non-food items along with a range of Healthy
Foods.
Healthy Food Non-Retail Outlets: Wholesalers of Healthy Foods
including, but not limited to, wholesale food outlets, wholesale
cooperatives, or other non-retail food producers that supply for sale a
range of Healthy Food options; entities that produce or distribute
Healthy Foods for eventual retail sale, and entities that provide
consumer education regarding the consumption of Healthy Foods.
Food Deserts: Distressed geographic areas where either a
substantial number or share of residents has low access to a
supermarket or large grocery store. For the purpose of satisfying this
requirement, a Food Desert must either: (1) Be a census tract
determined to be a Food Desert by the U.S. Department of Agriculture
(USDA), in its USDA Food Access Research Atlas; (2) be a census tract
adjacent to a census tract determined to be a Food Desert by the USDA,
in its USDA Food Access Research Atlas; which has a median family
income less than or equal to 120% of the applicable Area Median Family
Income; or (3) be a Geographic Unit as defined in 12 CFR part
1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the
criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been
identified as having low access to a supermarket or grocery store
through a methodology that has been adopted for use by another
governmental or philanthropic healthy food initiative.
5. PPC-FA Award: PPC-FA award funds may only be expended for
eligible FA activities referenced in Table 3. The PPC-FA Recipient must
close Financial Products in PPC in an Eligible Market or in the
Applicant's approved Target Market in an amount equal to or greater
than 100% of the total PPC Financial Assistance provided. The specific
counties that meet the criteria for ``persistent poverty'' can be found
at: <a href="https://www.cdfifund.gov/sites/cdfi/files/documents/cdfi-ppc-feb19-2020.xls">https://www.cdfifund.gov/sites/cdfi/files/documents/cdfi-ppc-feb19-2020.xls</a>.

III. Eligibility Information

A. Eligible Applicants: For the purposes of this NOFA, the
following tables set forth the eligibility criteria to receive an award
from the CDFI Fund, along with certain definitions of terms. There are
four categories of Applicant eligibility criteria: (1) CDFI
certification criteria (Table 5); (2) requirements that apply to all
Applicants (Table 6); (3) requirements that apply to TA Applicants
(Table 7); and (4) requirements that apply to FA Applicants (Table 8).

Table 5--CDFI Certification Criteria Definitions
------------------------------------------------------------------------

------------------------------------------------------------------------
Certified CDFI.................... An entity that the CDFI Fund has
officially notified that it meets
all CDFI certification
requirements.
Emerging CDFI (TA Applicants)..... <bullet> A non-Certified entity that
demonstrates to the CDFI Fund in
its Application that it has an
acceptable plan to meet CDFI
certification requirements by the
end of its Period of Performance,
or another date that the CDFI Fund
selects.
<bullet> An Emerging CDFI that has
prior award(s) must comply with
CDFI certification PG&M(s) stated
in its prior Assistance
Agreement(s).

[[Page 8091]]

An Emerging CDFI selected to receive
a TA grant will be required to
become a Certified CDFI by a date
specified in the Assistance
Agreement.
------------------------------------------------------------------------

Table 6--Eligibility Requirements for All Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
Applicant......................... <bullet> Only the entity that will
carry out the proposed award
activities may apply for an award
(other than Depository Institution
Holding Companies (DIHC) \9\--see
below). Recipients may not create a
new legal entity to carry out the
proposed award activities.
<bullet> The information in the
Application should only reflect the
activities of the Applicant,
including the presentation of
financial and portfolio
information. Do not include
financial or portfolio information
from parent companies, Affiliates,
or Subsidiaries in the Application
unless it relates to the provision
of Development Services.
<bullet> An Applicant that applies
on behalf of another organization
will be rejected without further
consideration, other than
Depository Institution Holding
Companies (see below).
Application type and submission <bullet> Applicants must submit the
overview through <a href="http://Grants.gov">Grants.gov</a> and Required Application Documents
Awards Management Information listed in Table 10.
System (AMIS). <bullet> The CDFI Fund will only
accept Applications that use the
official Application templates
provided on the <a href="http://Grants.gov">Grants.gov</a> and AMIS
websites. Applications submitted
with alternative or altered
templates will not be considered.
<bullet> Applicants undergo a two-
step process that requires the
submission of Application documents
by two separate deadlines in two
different locations: (1) The SF-424
in <a href="http://Grants.gov">Grants.gov</a> and (2) all other
Required Application Documents in
AMIS.
<bullet> <a href="http://Grants.gov">Grants.gov</a> and the SF-424:
[cir] <a href="http://Grants.gov">Grants.gov</a>: Applicants must
submit the Standard Form (SF) SF-
424, Application for Federal
Assistance.
[cir] All Applicants must
register in the <a href="http://Grants.gov">Grants.gov</a>
system to successfully submit an
Application. The <a href="http://Grants.gov">Grants.gov</a>
registration process can take 30
days or more to complete. The
CDFI Fund strongly encourages
Applicants to register as early
as possible.
[cir] The CDFI Fund will not
extend the SF-424 application
deadline for any Applicant that
started the <a href="http://Grants.gov">Grants.gov</a>
registration process on, before,
or after the date of the
publication of this NOFA, but
did not complete it by the
deadline except in the case of a
Federal government
administrative or technological
error that directly resulted in
a late submission of the SF-424.
[cir] The SF-424 must be
submitted in <a href="http://Grants.gov">Grants.gov</a> on or
before the deadline listed in
Table 1 and Table 12. Applicants
are strongly encouraged to
submit their SF-424 as early as
possible in the <a href="http://Grants.gov">Grants.gov</a>
portal.
[cir] The deadline for the
<a href="http://Grants.gov">Grants.gov</a> submission is before
the AMIS submission deadline.
[cir] The SF-424 must be
submitted under the CDFI Program
Funding Opportunity Number for
the CDFI Program Application.
CDFI Program Applicants should
be careful to not select the
NACA Program Funding Opportunity
Number when submitting their SF-
424 for the CDFI Program. CDFI
Program Applicants that submit
their SF-424 for the CDFI
Program Application under the
NACA Program Funding Opportunity
Number will be deemed ineligible
for the CDFI Program
Application.
[cir] If the SF-424 is not
accepted by <a href="http://Grants.gov">Grants.gov</a> by the
deadline, the CDFI Fund will not
review any material submitted in
AMIS and the Application will be
deemed ineligible.
<bullet> AMIS and all other Required
Application Documents listed in
Table 10:
[cir] AMIS is an enterprise-wide
information technology system.
Applicants will use AMIS to
submit and store organization
and Application information with
the CDFI Fund.
[cir] Applicants are only allowed
one CDFI Program Application
submission in AMIS.
[cir] Each Application in AMIS
must be signed by an Authorized
Representative.
[cir] Applicants must ensure that
the Authorized Representative is
an employee or officer of the
Applicant, authorized to sign
legal documents on behalf of the
organization. Consultants
working on behalf of the
organization may not be
designated as Authorized
Representatives.
[cir] Only the Authorized
Representative or Application
Point of Contact, included in
the Application, may submit the
Application in AMIS.
[cir] All Required Application
Documents must be submitted in
AMIS on or before the deadline
specified in Tables 1 and 12.
[cir] The CDFI Fund will not
extend the deadline for any
Applicant except in the case of
a Federal government
administrative or technological
error that directly resulted in
the late submission of the
Application in AMIS.
Employer Identification Number <bullet> Applicants must have a
(EIN). unique EIN assigned by the Internal
Revenue Service (IRS).
<bullet> The CDFI Fund will reject
an Application submitted with the
EIN of a parent or Affiliate
organization.
<bullet> The EIN in the Applicant's
AMIS account must match the EIN in
the Applicant's System for Award
Management (SAM) account. The CDFI
Fund reserves the right to reject
an Application if the EIN in the
Applicant's AMIS account does not
match the EIN in its SAM account.
<bullet> Applicants must enter their
EIN into their AMIS profile on or
before the deadline specified in
Tables 1 and 12.
Dun & Bradstreet, (DUNS) number... <bullet> Pursuant to OMB guidance
(68 FR 38402), an Applicant must
apply using its unique DUNS number
in <a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund will reject
an Application submitted with the
DUNS number of a parent or
Affiliate organization.
<bullet> The DUNS number in the
Applicant's AMIS account must match
the DUNS number in the Applicant's
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts. The
CDFI Fund will reject an
Application if the DUNS number in
the Applicant's AMIS account does
not match the DUNS number in its
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts.
<bullet> Applicants must enter their
DUNS number into their AMIS profile
on or before the deadline specified
in Tables 1 and 12.
System for Award Management (SAM). <bullet> SAM is a web-based,
government-wide application that
collects, validates, stores, and
disseminates business information
about the federal government's
trading partners in support of the
contract awards, grants, and
electronic payment processes.
<bullet> Applicants must register in
SAM as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process.
<bullet> Applicants must have a DUNS
number and an EIN number in order
to register in SAM.
<bullet> Applicants must be
registered in SAM in order to
submit an SF-424 in <a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund reserves the
right to deem an Application
ineligible if the Applicant's SAM
account expires during the
Application evaluation period, or
is set to expire before September
30, 2022, and the Applicant does
not re-activate, or renew, as
applicable, the account within the
deadlines that the CDFI Fund
communicates to affected Applicants
during the Application evaluation
period.
AMIS Account...................... <bullet> Each Applicant must
register as an organization in AMIS
and submit all Required Application
Documents listed in Table 10
through the AMIS portal.
<bullet> The Application of any
organization that does not properly
register in AMIS by the deadline
set forth in Table 1--FY 2022 CDFI
Program Funding Round Critical
Deadlines for Applicants--will be
rejected without further
consideration.
<bullet> The Authorized
Representative and/or Application
Point of Contact must be included
as ``users'' in the Applicant's
AMIS account.
<bullet> An Applicant that fails to
properly register and update its
AMIS account may miss important
communication from the CDFI Fund
and/or may not be able to
successfully submit an Application.

[[Page 8092]]

501(c)(4) status.................. <bullet> Pursuant to 2 U.S.C. 1611,
any 501(c)(4) organization that
engages in lobbying activities is
not eligible to receive a CDFI or
NACA Program award.
Compliance with Nondiscrimination <bullet> An Applicant may not be
and Equal Opportunity Statutes, eligible to receive an award if
Regulations, and Executive Orders. proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination within the last three
years indicates the Applicant has
violated any of the following laws,
including but not limited to: Title
VI of the Civil Rights Act of 1964,
as amended (42 U.S.C. 2000d);
Section 504 of the Rehabilitation
Act of 1973 (29 U.S.C. 794); the
Age Discrimination Act of 1975, (42
U.S.C. 6101-6107), and Executive
Order 13166, Improving Access to
Services for Persons with Limited
English Proficiency, and Title IX
of the Education Amendments of
1972.
Depository Institution Holding <bullet> In the case where a CDFI
Company Applicant. Depository Institution Holding
Company Applicant intends to carry
out the activities of an award
through its Subsidiary CDFI Insured
Depository Institution, the
Application must be submitted by
the CDFI Depository Institution
Holding Company and reflect the
activities and financial
performance of the Subsidiary CDFI
Insured Depository Institution.
<bullet> If a Depository Institution
Holding Company and its Certified
CDFI Subsidiary Insured Depository
Institution (through which it will
carry out the activities of the
award) both apply for an award
under this NOFA, only the
Depository Institution Holding
Company will receive an award, not
both. In such instances, the
Subsidiary Insured Depository
Institution will be deemed
ineligible.
<bullet> Authorized Representatives
of both the Depository Institution
Holding Company and the Subsidiary
CDFI Insured Depository Institution
must certify that the information
included in the Application
represents that of the Subsidiary
CDFI Insured Depository
Institution, and that the award
funds will be used to support the
Subsidiary CDFI Insured Depository
Institution for the eligible
activities outlined in the
Application.
Use of award...................... <bullet> All awards made through
this NOFA must be used to support
the Applicant's activities in at
least one of the FA or TA Eligible
Activity Categories (see Section
II. (C)).
<bullet> With the exception of
Depository Institution Holding
Company Applicants, awards may not
be used to support the activities
of, or otherwise be passed through,
transferred, or co-awarded to,
third-party entities, whether
Affiliates, Subsidiaries, or
others, unless done pursuant to a
merger or acquisition or similar
transaction, and with the CDFI
Fund's prior written consent. The
Recipient of any award made through
this NOFA must comply, as
applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303
and section 2 CFR 200.216 of the
Uniform Requirements, with respect
to any Direct Costs.
Requested award amount............ <bullet> An Applicant must state its
requested award amount in the
Application in AMIS. An Applicant
that does not include this amount
will not be allowed to submit an
Application.
Pending resolution of <bullet> The CDFI Fund will consider
noncompliance. an Application submitted by an
Applicant that has pending
noncompliance issues on any of its
previously executed Award
Agreement(s), Allocation
Agreement(s), and/or Assistance
Agreement(s) if the CDFI Fund has
not yet made a final compliance
determination.
Noncompliance or default status... <bullet> The CDFI Fund will not
consider an Application submitted
by an Applicant that has a
previously executed Award
Agreement(s), Allocation
Agreement(s), and/or Assistance
Agreement(s) if, as of the date of
the Application, (i) the CDFI Fund
has made a final determination that
such entity is noncompliant or
found in default with a previously
executed Award Agreement,
Allocation Agreement and/or
Assistance Agreement and (ii) the
CDFI Fund has provided written
notification that such entity is
ineligible to apply for or receive
any future CDFI Fund awards or
allocations. Such entities will be
ineligible to submit an Application
for such time period as specified
by the CDFI Fund in writing.
<bullet> The CDFI Fund will not
consider any Applicant that has
defaulted on a loan from the CDFI
Fund within five years of the
Application deadline.
Debarment/Do Not Pay Verification. <bullet> The CDFI Fund will conduct
a debarment check and will not
consider an Application submitted
by an Applicant (or Affiliate of an
Applicant) if the Applicant is
delinquent on any Federal debt.
<bullet> The Do Not Pay Business
Center was developed to support
Federal agencies in their efforts
to reduce the number of improper
payments made through programs
funded by the Federal government.
The Do Not Pay Business Center
provides delinquency information to
the CDFI Fund to assist with the
debarment check.
------------------------------------------------------------------------

---------------------------------------------------------------------------

\9\ Depository Institution Holding Company or DIHC means a Bank
Holding Company or a Savings and Loan Holding Company.

Table 7--Eligibility Requirements for TA Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
CDFI certification status......... (1) Emerging CDFIs (see definition
in Table 5), or
(2) Certified CDFIs (see Table 5)
that meet the following SECA
Applicant criteria:
(1) Have total assets as of the
end of the Applicant's most
recent historic fiscal year \10\
in accordance with the FA
Application Guidance (as stated
in the Applicant's AMIS account
and verified by internally
prepared financial statements
and/or audits) in the following
amounts:
<bullet> Insured Depository
Institutions and Depository
Institution Holding Companies:
Up to $250 million;
<bullet> Insured Credit Unions
and State-Insured Credit
Unions: Up to $100 million;
<bullet> Venture Capital Funds
**: Up to $5 million;
<bullet> Other CDFIs: Up to $5
million; OR
(2) Have begun operations (as
indicated by the financing
activity start date field in the
Applicant's AMIS account) on or
after January 1, 2018.
Matching Funds.................... <bullet> Matching Funds
documentation is not required for
TA awards.
Limitation on Awards.............. <bullet> An Emerging CDFI may not
receive more than three TA awards
as an uncertified CDFI.
Proposed Activities............... <bullet> Applicants must propose to
directly undertake eligible
activities with TA awards. For
example, an uncertified CDFI
Applicant must propose to become
certified as part of its
Application and a Certified CDFI
Applicant must propose activities
that build its capacity to serve
its Target Market or an Eligible
Market.
<bullet> Applicants may not propose
to use a TA award to create a
separate legal entity to become a
Certified CDFI or otherwise carry
out the TA award activities.
Regulated Institution............. <bullet> Each Regulated Institution
TA Applicant must have a CAMELS/
CAMEL rating (rating for Insured
Depository Institutions and Credit
Unions, respectively) or equivalent
type of rating by its regulator
(collectively referred to as
``CAMELS/CAMEL rating'') of at
least ``4''.
<bullet> TA Applicants with CAMELS/
CAMEL ratings of ``5'' will not be
eligible for awards.
<bullet> In the case of a Depository
Institution Holding Company
Applicant that intends to carry out
the award through a Subsidiary
Insured Depository Institution, the
CAMELS/CAMEL rating eligibility
requirements noted above apply to
both the Depository Institution
Holding Company Applicant as well
as the Subsidiary Insured
Depository Institution.

[[Page 8093]]

<bullet> The CDFI Fund will also
evaluate material concerns
identified by the Appropriate
Federal Banking Agency in
determining the eligibility of
Regulated Institution Applicants.
------------------------------------------------------------------------
** A Venture Capital Fund is an organization that predominantly invests
funds in businesses, typically in the form of either Equity
Investments or subordinated debt with equity features such as a
revenue participation or warrants, and generally seeks to participate
in the upside returns of such businesses in an effort to at least
partially offset the risk of its investments.

---------------------------------------------------------------------------

\10\ For the purposes of this NOFA, an Applicant's most recent
historic fiscal year end is determined as follows:
(A) Applicants with a 3/31 fiscal year end date will treat FY
2021 as their most recent historic fiscal year and FY 2022 as their
current year.
(B) Applicants with a 6/30 fiscal year end date will treat FY
2021 as their most recent historic fiscal year and FY 2022 as their
current year.
(C) Applicants with a 9/30 fiscal year end date and a completed
FY 2021 audit will treat FY 2021 as their most recent historic
fiscal year and FY 2022 as their current year.
(D) Applicants with a 9/30 fiscal year end date but without a
completed FY 2021 audit will treat FY 2020 as their most recent
historic fiscal year and FY 2021 as their current year.
(E) Applicants with a 12/31 fiscal year end date, with or
without a completed FY 2021 audit, will treat FY 2020 as their most
recent historic fiscal year and FY 2021 as their current year.

Table 8--Eligibility Requirements for FA Applicants
------------------------------------------------------------------------

------------------------------------------------------------------------
CDFI certification status......... <bullet> Each FA Applicant must be a
Certified CDFI as of the
publication date of this NOFA in
the Federal Register.
<bullet> The CDFI Fund will consider
an Application submitted by an
Applicant that has pending
noncompliance issues with its
Annual Certification Report if the
CDFI Fund has not yet made a final
compliance determination.
<bullet> If a Certified CDFI loses
its certification at any point
prior to the award announcement,
the Application will be deemed
ineligible and no longer be
considered by the CDFI Fund.
Matching Funds documentation...... <bullet> Native American CDFIs are
not required to provide Matching
Funds.
<bullet> Applicants must submit
acceptable documentation attesting
that they have received or will
receive Matching Funds. Applicants
that do not complete the Matching
Funds section in the FA Application
in AMIS, documenting the source(s)
of their Matching Funds, will not
be evaluated. See Table 9 for
additional information on Matching
Funds requirements for FY 2022
Funding Round. The Matching Funds
requirement for Category I (SECA)
FA Applicants and HFFI-FA
Applicants was waived in the final
FY 2021 appropriations, and the
final FY 2022 appropriations are
still pending. Therefore HFFI-FA
and SECA FA applicants are not
required to submit Matching Funds
for their award requests at the
time of Application. However, the
CDFI Fund reserves the right to
request Matching Funds from
Category I (SECA) FA and HFFI-FA
Applicants if Matching Funds are
not waived in the final FY 2022
CDFI Program appropriations.
Category II (Core) FA Applicants
must document their Matching Funds
in the Matching Funds section in
the FA Application in AMIS.
Matching Funds information provided
in another format will not be
considered.
<bullet> Unless Congress waived the
Matching Funds requirement, awards
will be limited to no more than two
times the amount of In-Hand or
Committed Matching Funds
documentation provided at the time
of Application (or for Category I
(SECA) FA and HFFI-FA Applicants,
upon request if applicable). See
Table 9 for the definitions of
Committed and In-Hand.
<bullet> Unless Congress waived the
Matching Funds requirement, awards
will be obligated in like form to
the Matching Funds provided at time
of Application (or for Category I
(SECA) FA and HFFI-FA Applicants,
upon request if applicable). See
Table 9. Matching Funds
``Determination of Award Form'' for
additional guidance.
<bullet> Unless Congress waived the
Matching Funds requirement, award
payments from the CDFI Fund will
require eligible dollar-for-dollar
In-Hand Matching Funds for the
total payment amount. Recipients
will not receive a payment until
100% of their Matching Funds are In-
Hand.
<bullet> Unless Congress waived the
Matching Funds requirement, the
CDFI Fund will reduce and de-
obligate the remaining balance of
any award that does not demonstrate
full dollar-for-dollar Matching
Funds equal to the announced award
amount by the end of the Matching
Funds Window.
Consideration as a Native American <bullet> The Indian Community
CDFI. Economic Enhancement Act of 2020
(Pub. L. 116-261) permanently
waived the Matching Funds
requirements for Native American
CDFIs. For consideration as a
Native American CDFI under this
NOFA, an FA Applicant must
Primarily Serve a Native Community.
Primarily Serves is defined as 50%
or more of an Applicant's
activities being directed to a
Native Community.
<bullet> For purposes of this NOFA,
a Native Community is defined as
Native American, Alaska Native, or
Native Hawaiian populations or
Native American areas defined as
Federally-designated reservations,
Hawaiian homelands, Alaska Native
Villages and U.S. Census Bureau-
designated Tribal Statistical
Areas.
<bullet> Applicants that do not meet
the above conditions will not be
considered as a Native American
CDFI under this NOFA.
<bullet> Native American CDFI FA
Applicants are not required to
provide Matching Funds. Therefore,
if the CDFI Fund determines that a
Category II (Core) FA Applicant
that attests in its Application to
meeting the above conditions does
not meet the criteria to be
considered a Native American CDFI,
the Application will be deemed
ineligible for failure to provide
Matching Funds.
$5 Million funding cap............ <bullet> The CDFI Fund is prohibited
from obligating more than $5
million in CDFI and NACA Program
awards, in the aggregate, to any
one organization and its
Subsidiaries and Affiliates during
any three-year period from the
Announcement Date.
<bullet> For TA Applicants, for
purposes of this NOFA and per final
FY 2022 appropriations language,
the CDFI Fund will include CDFI and
NACA Program final awards in the
cap calculation that were provided
to an Applicant (and/or its
Subsidiaries or Affiliates) under
the FY 2020, and 2021 funding
rounds, as well as the requested FY
2022 award, excluding DF-FA and
HFFI-FA awards.
<bullet> For FA Applicants, for
purposes of this NOFA and per final
FY 2022 appropriations language,
the CDFI Fund will include CDFI and
NACA Program final awards in the
cap calculation that were provided
to an Applicant (and/or its
Subsidiaries or Affiliates) under
the FY 2020 and 2021 funding
rounds, as well as the requested FY
2022 award, excluding DF-FA and
HFFI-FA awards.
FA Category I (SECA).............. <bullet> To be an eligible SECA
Applicant, an Applicant must meet
the following criteria:
(1) Be a Certified CDFI;
(2) Request $700,000 or less in
Base-FA funds; AND EITHER
(3) Have total assets as of the
end of the Applicant's most
recent historic fiscal year in
accordance with the FA
Application Guidance (as stated
in the Applicant's AMIS account
and verified by internally
prepared financial statements
and/or audits) in the following
amounts:
<bullet> Insured Depository
Institutions and Depository
Institution Holding Companies:
Up to $250 million;
<bullet> Insured Credit Unions
and State-Insured Credit Unions:
Up to $100 million;
<bullet> Venture Capital Funds:
Up to $5 million;
<bullet> Other CDFIs: Up to $5
million; OR

[[Page 8094]]

<bullet> Have begun operations
(as indicated by the financing
activity start date field in the
Applicant's AMIS account) on or
after January 1, 2018.
FA Category II (Core)............. <bullet> A Core Applicant must be a
Certified CDFI as defined in Table
5.
<bullet> An Applicant that meets the
SECA requirements stated above, and
that requests more than $700,000 in
Base-FA award funds is categorized
as an FA Category II (Core)
Applicant, regardless of its total
assets and/or years in operation.
<bullet> Such Applicants who meet
SECA requirements but wish to apply
as a Core FA Applicant, by
requesting more than $700,000, must
submit a Service Request in AMIS to
request that a Core-FA Application
be created by the dates specified
in Tables 1 and 12. The CDFI Fund
will not change an Application back
to a SECA FA Application after a
request to create a Core FA
Application has been submitted to
the CDFI Fund.
FA Applicants with Community <bullet> A CDFI Applicant can apply
Partners. for assistance jointly with a
Community Partner. The CDFI
Applicant must complete the CDFI
Program Application and address the
Community Partnership in its
business plan and other sections of
the Application as specified in the
Application materials.
<bullet> The CDFI Applicant must be
a Certified CDFI as defined in
Table 5.
<bullet> An Application with a
Community Partner must:
[cir] Describe how the CDFI
Applicant and Community Partner
will each participate in the
partnership and how the
partnership will enhance
eligible activities serving the
Investment Area and/or Targeted
Population.
[cir] Demonstrate that the
Community Partnership activities
are consistent with the
strategic plan submitted by the
CDFI Applicant.
<bullet> Assistance provided upon
approval of an Application with a
Community Partner shall only be
entrusted to the CDFI Applicant and
shall not be used to fund any
activity carried out directly by
the Community Partner or an
Affiliate or Subsidiary thereof.
Regulated Institution............. <bullet> Each Regulated Institution
FA Applicant must have a CAMELS/
CAMEL rating (rating for Insured
Depository Institutions and Credit
Unions, respectively) or equivalent
type of rating by its regulator
(collectively referred to as
``CAMELS/CAMEL rating'') of at
least ``3''.
<bullet> FA Applicants with CAMELS/
CAMEL ratings of ``4 or 5'' will
not be eligible for awards.
<bullet> In the case of a Depository
Institution Holding Company
Applicant that intends to carry out
the award through a Subsidiary
Insured Depository Institution, the
CAMELS/CAMEL rating eligibility
requirements noted above apply to
both the Depository Institution
Holding Company Applicant as well
as the Subsidiary Insured
Depository Institution.
<bullet> The CDFI Fund will also
evaluate material concerns
identified by the Appropriate
Federal Banking Agency in
determining the eligibility of
Regulated Institution Applicants.
PPC-FA............................ <bullet> All PPC-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements; and
[cir] Provide a PPC-FA award
request amount in AMIS.
DF-FA............................. <bullet> All DF-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the DF-FA
Application; and
[cir] Provide a DF-FA award
request amount in AMIS.
HFFI-FA........................... <bullet> All HFFI-FA Applicants
must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the HFFI-FA
Application; and
[cir] Provide a HFFI-FA award
request amount in AMIS.
------------------------------------------------------------------------

B. Matching Funds Requirements: In order to receive a Base-FA, PPC-
FA, or DF-FA award, an Applicant must provide evidence of eligible
dollar-for-dollar Matching Funds and attest that it can provide
acceptable documentation upon the CDFI Fund's request as part of the
Application, unless Congress waived the Matching Funds requirement. The
Matching Funds requirement was permanently waived for Native American
CDFIs. Therefore, Native American CDFI Applicants are not required to
submit Matching Funds for their award requests. The Matching Funds
requirement was waived for Category I (SECA) FA Applicants and HFFI-FA
Applicants in the final appropriations bill for FY 2021, and the final
FY 2022 appropriations are still pending for this funding round. As a
result, Category I (SECA) FA Applicants and HFFI-FA Applicants are not
required to submit Matching Funds for their award requests at the time
of Application. However, the CDFI Fund reserves the right to request
Matching Funds from Category I (SECA) FA Applicants and HFFI-FA
Applicants if Matching Funds are not waived in the final FY 2022 CDFI
Program appropriations. An Applicant that represents that it has Equity
Investments and/or deposits Matching Funds In-Hand at the time of
Application submission must provide documentation of such as part of
the Application (or for Category I (SECA) FA and HFFI-FA Applicants,
upon request if applicable). An Applicant that uses retained earnings
as Matching Funds must provide supporting documentation of In-Hand and/
or Committed Matching Funds at the time of Application submission. The
CDFI Fund will review Matching Funds information, attestations, and
supporting Matching Funds documentation, if applicable, prior to award
payment and will disburse funds based upon eligible In-Hand Matching
Funds. The CDFI Fund encourages Applicants to review the Regulations,
the Uniform Requirements, and the Matching Funds guidance materials
available on the CDFI Fund's website. Table 9 provides a summary of the
Matching Funds requirements for Applicants for whom Matching Funds are
required. The Matching Funds requirement for Native American CDFIs is
permanently waived. Additional details are set forth in the Application
materials.

Table 9--Matching Funds Requirements *
------------------------------------------------------------------------

------------------------------------------------------------------------
In-Hand Matching Funds definition. <bullet> Matching Funds are In-Hand
when the Applicant receives payment
for the Matching Funds from the
Matching Funds source and has
acceptable documentation that can
be provided to the CDFI Fund upon
request. Acceptable In-Hand
documentation must show the source,
form (e.g., grant, loan, deposit,
and Equity Investment), amount
received, and the date the funds
came into physical possession of
the Applicant.

[[Page 8095]]

<bullet> The following
documentation, depending on the
Matching Funds type, must be
available to be provided to the
CDFI Fund upon request:
<bullet> Loan--the loan agreement
and/or promissory note;
<bullet> grant--the grant letter
or agreement;
<bullet> Equity Investment--the
stock certificate, documentation
of total equity outstanding, and
shareholder agreement;
<bullet> retained earnings--
Retained Earnings Calculator and
audited financial statements or
call reports from regulating
entity for each fiscal year
reported in the Retained
Earnings Calculator;
<bullet> third party in-kind
contribution--evidence of
receipt of contribution and
valuation;
<bullet> deposits--certificates
of deposit agreement;
<bullet> secondary capital--
secondary capital agreement and
disclosure and acknowledgement
statement; AND
<bullet> clearly legible
documentation that demonstrates
actual receipt of the Matching
Funds including the date of the
transaction and the amount, such
as a copy of a check or a wire
transfer statement.
<bullet> Unless Congress waived
the Matching Funds requirement,
Applicants must provide
information on their In-Hand
Matching Funds in the Matching
Funds section of the FA
Application in AMIS (refer to
Table 10--Required Application
Documents) at the time of
Application submission.
<bullet> Although Applicants are
not required to provide further
documentation for In-Hand
Matching Funds at the time of
Application submission (other
than supporting documentation
for retained earnings, deposits,
and Equity Investments, which
must be provided at the time of
Application submission), they
must be able to provide
documentation to the CDFI Fund
upon request.
Matching Funds requirements by The following Applicants must
Application type. provide evidence of acceptable
Matching Funds at the time of
Application:
<bullet> Category II/Core FA
Applicants, with the exception of
Native American CDFIs, applying for
Base-FA, PPC-FA, and DF-FA
The CDFI Fund reserves the right to
request Matching Funds from
Category I (SECA) FA Applicants and
HFFI-FA Applicants if Matching
Funds are not waived in the final
FY 2022 CDFI Program
appropriations.
TA Applicants and Native American
CDFI FA Applicants are not required
to provide Matching Funds.
Amount of required match.......... Unless waived by Congress,
Applicants must provide evidence of
eligible, In-Hand, dollar-for-
dollar, non-Federal Matching Funds
for every award dollar to be paid
by the CDFI Fund. If awarded,
Applicants that do not demonstrate
100% In-Hand Matching Funds at the
time of Application submission may
experience a longer payment
timeline.
Determination of award form....... Unless the Matching Funds
requirement is waived by Congress,
awards will be made in comparable
form and value to the eligible In-
Hand and/or Committed Matching
Funds submitted by the Applicant.
For awards where Congress has
waived the Matching Funds
requirement, the form of the award
will be a grant.
<bullet> For example, if an
Applicant provides documentation
of eligible loan Matching Funds
for $200,000 and eligible grant
Matching Funds of $400,000, the
CDFI Fund will obligate $200,000
of the FA award as a loan and
$400,000 as a grant.
<bullet> The CDFI Fund will not
permit a Recipient to change the
form of a loan award.
For awards where Congress waives the
Matching Funds requirement, the
form of the award will be a grant.
Matching Funds Window definition.. <bullet> The Applicant must receive
eligible In-Hand Matching Funds
between January 1, 2020 and January
15, 2023.
<bullet> A Recipient must provide
the CDFI Fund with all
documentation demonstrating the
receipt of In-Hand Matching Funds
by January 31, 2023.
Matching Funds and form of award.. <bullet> Recipients will be approved
for a maximum award size of two
times the total amount of eligible
In-Hand and/or Committed Matching
Funds included in the Application
(or for Category I (SECA) FA and
HFFI-FA Applicants, upon request if
applicable), so long as they do not
exceed the requested award amount.
<bullet> The form of the Matching
Funds documented in the Application
determines the form of the award.
Committed Matching Funds <bullet> Matching Funds are
definition. Committed when the Applicant has
entered into or received a legally
binding commitment from the
Matching Funds source showing that
the Matching Funds will be
disbursed to the Applicant at a
future date.
<bullet> The Applicant must provide
information on their Committed
Matching Funds in the Matching
Funds section of the FA Application
in AMIS (refer to Table 10--
Required Application Documents) at
the time of Application submission.
<bullet> Although the Applicant is
not required to provide further
documentation for Committed
Matching Funds at the time of
Application submission (other than
supporting documentation for
retained earnings, deposits, and
Equity Investments, which must be
provided at the time of Application
submission), it must be able to
provide the CDFI Fund, upon
request, acceptable written
documentation showing the source,
form, and amount of the Committed
Matching Funds (including, in the
case of a loan, the terms thereof),
as well as the anticipated payment
date of the Committed Matching
Funds.
Limitations on Matching Funds..... <bullet> Matching Funds must be from
non-Federal sources.
<bullet> Applicants cannot proffer
Matching Funds that were accepted
as Matching Funds for a prior award
that required Matching Funds under
the CDFI Program, NACA Program, or
under another Federal grant or
award program.
<bullet> Matching Funds must comply
with the Regulations.
<bullet> Matching Funds must be
attributable to at least one of the
five eligible FA activities (see
Section II (C) of this NOFA).
Rights of the CDFI Fund........... <bullet> The CDFI Fund reserves the
right to contact the Matching Funds
source to discuss the Matching
Funds and the documentation that
the Applicant provided.
<bullet> The CDFI Fund may grant an
extension of the Matching Funds
Window (defined in Table 9), on a
case-by-case basis, if the CDFI
Fund deems it appropriate.
<bullet> The CDFI Fund reserves the
right to rescind all or a portion
of an award requiring Matching
Funds and re-allocate the rescinded
award amount to other qualified
Applicant(s) if a Recipient fails
to provide evidence of In-Hand
Matching Funds obtained during the
Matching Funds Window totaling its
award amount.
Matching Funds in the form of <bullet> Third party in-kind
third-party in-kind contributions. contributions are non-cash
contributions (i.e., property or
services) provided by non-Federal
third parties to the Applicant.
<bullet> Third party in-kind
contributions will be considered to
be in the form of a grant for
Matching Funds purposes.
<bullet> Third party in-kind
contributions may be in the form of
real property, equipment, supplies,
and other expendable property. The
value of goods and services must
directly benefit the eligible FA
activities.
<bullet> For third party in-kind
contributions, the fair market
value of goods and services must be
documented as the grant match.
<bullet> Applicants will be
responsible for documenting the
value of all in-kind contributions
pursuant to the Uniform
Requirements.
Matching Funds in the form of a <bullet> An award made in the form
loan. of a loan will have the following
standardized terms:
i. A 13-year term with semi-annual
interest-only payments due in years
1 through 10, and fully amortizing
payments due each year in years 11
through 13; and
ii. A fixed interest rate of
1.39%, which was calculated by
the CDFI Fund based on the U.S.
Department of the Treasury's 10-
year Treasury note.
<bullet> The Applicant's Matching
Funds loan(s) must:
i. Have a minimum of a 3-year
term (loans presented as
Matching Funds with less than a
3-year term will not qualify as
eligible match); and
ii. be from a non-Federal source.

[[Page 8096]]

Matching Funds in the form of <bullet> An Equity Investment source
Equity Investments. must meet the terms outlined in 12
CFR 1805.401(a): Equity: The CDFI
Fund may make non-voting equity
investments in a Recipient,
including, without limitation, the
purchase of non-voting stock. Such
stock shall be transferable and, in
the discretion of the CDFI Fund,
may provide for convertibility to
voting stock upon transfer. The
CDFI Fund shall not own more than
50 percent of the equity of a
Recipient and shall not control its
operations.
<bullet> The CDFI Fund's ownership
of equity is calculated by dividing
the shares owned by the CDFI Fund
by the total number of shares
issued by the Recipient.
<bullet> The CDFI Fund reserves the
right, in its sole discretion, to
perform its own valuation of Equity
Investment source(s) and to
determine if the equity value is
acceptable to the CDFI Fund.
Severe Constraints Waiver......... <bullet> In the case of an Applicant
demonstrating severe constraints on
available sources of Matching
Funds, the CDFI Fund, in its sole
discretion, may provide a Severe
Constraints Waiver, which permits
such Applicant to comply with the
Matching Funds requirements by
reducing such requirements by up to
50%.
<bullet> In order to be considered
eligible for a Severe Constraints
Waiver, an Applicant must meet all
of the SECA eligibility criteria
described in Table 8. Instructions
for requesting a Severe Constraints
Waiver will be made available if
required.
<bullet> No more than 25% of the
total funds available for
obligation under this funding round
may qualify for a Severe
Constraints Waiver.
Ineligible Matching Funds......... <bullet> Applicants will not be
given the opportunity to correct or
amend the Matching Funds
information included in the FA
Application after Application
submission if the CDFI Fund
determines that any portion of the
Applicant's Matching Funds is
ineligible.
Use of Matching Funds from a prior If an Applicant offers Matching
CDFI Program Recipient. Funds documentation from an
organization that was a prior
Recipient under the CDFI Program or
NACA Program, the Applicant must be
able to prove to the CDFI Fund's
satisfaction that such funds do not
consist, in whole or in part, of
CDFI Program funds, NACA Program
funds, or other Federal funds.
Matching Funds in the form of <bullet> Retained earnings are
retained earnings. eligible for use as Matching Funds
in an amount equal to the CDFI
Fund's calculation of:
i. the increase in retained earnings
that occurred over any one of the
Applicant's fiscal years within the
Matching Funds Window, adjusted to
remove revenue and expenses derived
from Federal sources and Matching
Funds used for an award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
Matching Funds used for an
award; or
iii. any combination of (i) and
(ii) above that does not include
Matching Funds used for an
award.
<bullet> Retained earnings will be
matched in the form of a grant.
<bullet> Depository Institution
Holding Company Applicants must
provide call reports for the
Depository Institution Holding
Company in order to verify their
retained earnings, even if the
requested award will support its
Subsidiary CDFI Insured Depository
Institution.
Special rule for Regulated <bullet> A Regulated Institution's
Institutions. retained earnings are eligible for
use as Matching Funds in an amount
equal to the CDFI Fund's
calculation of:
i. The increase in retained
earnings that occurred over any
one of the Applicant's fiscal
years within the Matching Funds
Window, adjusted to remove
revenue from Federal sources and
Matching Funds used for an
award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years
of the Applicant with at least
one of the fiscal years
occurring within the Matching
Funds Window, adjusted to remove
revenue and expenses derived
from Federal sources and
Matching Funds used for an
award; or
iii. the entire retained earnings
that have been accumulated since
the inception of the Applicant,
as provided in the Regulations.
<bullet> If option (iii) is used for
Insured Credit Unions or State-
Insured Credit Unions, the
Applicant must increase its member
and/or non-member shares and/or
total loans outstanding by an
amount equal to the amount of
retained earnings committed as
Matching Funds.
<bullet> This increase (1) will
be measured on a quarterly basis
from March 31, 2022; (2) must
occur by December 31, 2023; and
(3) will be based on amounts
reported in the Applicant's
National Credit Union
Administration (NCUA) form 5300
Call Report, or equivalent.
<bullet> The CDFI Fund will
assess the likelihood of this
increase during the Application
review process.
<bullet> An award will not be
made to any Applicant that has
not demonstrated in the relevant
NCUA form 5300 call reports or
equivalent that it has increased
shares and/or total loans
outstanding by at least 25% of
the requested FA award amount
(including all awards requiring
Matching Funds) between December
31, 2020, and December 31, 2021.
<bullet> The Matching Funds are
not In-Hand until the Recipient
has increased its member and/or
non-member shares, deposits and/
or total loans outstanding by
the amount of retained earnings
since inception that are being
used as Matching Funds.
<bullet> If option (iii) is used for
Insured Depository Institutions or
Depository Institution Holding
Companies, the Applicant or its
Subsidiary CDFI Insured Depository
Institution (in the case of a
Depository Institution Holding
Company) must increase deposits and/
or total loans outstanding by an
amount equal to the amount of
retained earnings committed as
Matching Funds. Depository
Institution Holding Company
Applicants must use the call
reports of the Subsidiary CDFI
Insured Depository Institution that
the requested the FA award will
support.
<bullet> This increase (1) will
be measured on a quarterly basis
from March 31, 2022; (2) must
occur by December 31, 2023; and
(3) will be based on amounts
reported in the call report.
<bullet> The CDFI Fund will
assess the likelihood of this
increase during the Application
review process.
<bullet> An award will not be
made to any Applicant that has
not demonstrated in the relevant
call reports that it has
increased deposits and/or total
loans outstanding by at least
25% of the requested FA award
amount (including all awards
requiring Matching Funds)
between December 31, 2020, and
December 31, 2021.
<bullet> The Matching Funds are
not In-Hand until the Recipient
has increased its deposits and/
or total loans outstanding by
the amount of retained earnings
since inception that are being
used as Matching Funds.
<bullet> All regulated Applicants
utilizing the option (iii)
should refer to the Retained
Earnings Guidance included in
the Retained Earnings Calculator
Excel Workbook found on the CDFI
Fund's website.
------------------------------------------------------------------------
*The requirements set forth in Table 9 are applicable to Category II
(Core) FA Applicants, with the exception of Native American CDFIs,
applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds
requirements were permanently waived for Native American CDFIs.
Therefore, the requirements set forth in Table 9 are not applicable to
Native American CDFI Applicants for the FY 2022 Funding Round.
Category I (SECA) FA Applicants and HFFI-FA Applicants are not
required to submit Matching Funds at the time of Applications
submission but the CDFI Fund reserves the right to request Matching
Funds from these Applicants if the Matching Funds requirement is not
waived in the final FY 2022 CDFI Program appropriations.

[[Page 8097]]

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials
can be found on the CDFI Fund's website at <a href="http://www.cdfifund.gov/cdfi">www.cdfifund.gov/cdfi</a>.
Applicants may request a paper version of any Application material by
contacting the CDFI Fund Help Desk at <a href="/cdn-cgi/l/email-protection#d3b0b7b5babbb6bfa393b0b7b5bafda7a1b6b2a0fdb4bca5">[email&#160;protected]</a>. Paper
versions of Application materials will only be provided if an Applicant
cannot access the CDFI Fund's website.
B. Content and Form of Application Submission: All Applications
must be prepared using the English language, and calculations must be
computed in U.S. dollars. The following table lists the Required
Application Documents for the FY 2022 Funding Round. The CDFI Fund
reserves the right to request and review other pertinent or public
information that has not been specifically requested in this NOFA or
the Application. Information submitted by the Applicant that the CDFI
Fund has not specifically requested will not be reviewed or considered
as part of the Application. Financial data, portfolio, and activity
information provided in the Application should only include the
Applicant's activities. Information submitted must accurately reflect
the Applicant's activities.

Table 10--Required Application Documents
------------------------------------------------------------------------
Submission
Application documents Applicant type format
------------------------------------------------------------------------
Active AMIS Account.............. All Applicants.... AMIS.
SF-424........................... All Applicants.... Fillable PDF in
<a href="http://Grants.gov">Grants.gov</a>.
CDFI Program Application All Applicants.... AMIS.
Components:.
<bullet> Funding Application
Detail.
<bullet> Data, Charts, and
Narrative sections as listed
in AMIS and outlined in
Application materials.
<bullet> Matching Funds (FA
Core Applicants, with the
exception of Native American
CDFIs).
PPC-FA Application Components:... PPC-FA Applicants. AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives..........
<bullet> AMIS Charts.........
DF-FA Application Components:.... DF-FA Applicants.. AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives..........
<bullet> AMIS Charts.........
HFFI-FA Application Components:.. HFFI-FA Applicants AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives..........
<bullet> AMIS charts.........
------------------------------------------------------------------------
ATTACHMENTS TO THE APPLICATION
------------------------------------------------------------------------
Key Staff Resumes................ All Applicants.... PDF or Word
document in
AMIS.
Organizational Chart............. All Applicants.... PDF in AMIS.
Completed, final Audited FA Applicants and PDF in AMIS.
financial statements for the TA Applicants, if
Applicant's Three Most Recent available: loan
Historic Fiscal Years. funds, Venture
Capital Funds,
and other non-
Regulated
Institutions.
Management Letter for the FA Applicants and PDF in AMIS.
Applicant's Most Recent Historic TA Applicants, if
Fiscal Year. The Management available: loan
Letter is prepared by the funds, Venture
Applicant's auditor and is a Capital Funds,
communication on internal and other non-
control over financial Regulated
reporting, compliance, and other Institutions.
matters. The Management Letter
contains the auditor's findings
regarding the Applicant's
accounting policies and
procedures, internal controls,
and operating policies,
including any material
weaknesses, significant
deficiencies, and other matters
identified during auditing. The
Management Letter may include
suggestions for improving on
identified weaknesses and
deficiencies and/or best
practice suggestions for items
that may not be considered to be
weaknesses or deficiencies. The
Management Letter may also
include items that are not
required to be disclosed in the
annual audited financial
statements. The Management
Letter is distinct from the
auditor's Opinion Letter, which
is required by Generally
Accepted Accounting Principles
(GAAP). Management Letters are
not required by GAAP, and are
sometimes provided by the
auditor as a separate letter
from the audit itself.
Statement(s) in Lieu of FA Applicants: AMIS.
Management Letter for Loan funds,
Applicant's Most Recent Historic Venture Capital
Fiscal Year using the template Funds, and other
available as part of the non-Regulated
Application in AMIS and attested Institutions, TA
to by an Authorized Applicants, if
Representative of the Applicant. audited financial
(required only if Management statements ARE
Letters are not available for available but the
audited financial statements). Management
Letters are NOT
available: Loan
funds, Venture
Capital Funds,
and other non-
Regulated
Institutions.

[[Page 8098]]

Unaudited financial statements FA and TA PDF in AMIS.
for Applicant's Three Most Applicants, if
Recent Historic Years (required available: Loan
if available, and only if funds, Venture
audited financial statements are Capital Funds,
not available). and other non-
Regulated
Institutions.
Current Year to Date--December FA and TA PDF in AMIS.
31, 2021 Unaudited financial Applicants: Loan
statements. funds, Venture
Capital Funds,
and other non-
Regulated
Institutions.
Community Partnership Agreement.. FA Applicants, if PDF or Word
applicable. document in
AMIS.
Retained Earnings Calculator FA Core Excel in AMIS.
Excel Workbook (required only if Applicants, if
using retained earnings as applicable.
Matching Funds).
Call reports for each fiscal year FA Core PDF in AMIS.
reported in the Retained Applicants:
Earnings Calculator. Regulated
Institutions that
are using
retained earnings
as Matching Funds.
Equity Investment Matching Funds FA Core PDF or Word
Documentation. Applicants: For- document in
profit CDFIs that AMIS.
are using In-Hand
Equity
Investment(s) as
Matching Funds.
Deposits Matching Funds FA Core PDF or Word
Documentation. Applicants: document in
Regulated AMIS.
Institutions that
are using In-Hand
Deposits as
Matching Funds.
------------------------------------------------------------------------

C. Application Submission: The CDFI Fund has a two-step process
that requires the submission of Required Application Documents (listed
in Table 10) on separate deadlines and locations. The SF-424 must be
submitted through <a href="http://Grants.gov">Grants.gov</a> and all other Required Application
Documents through the AMIS portal. The CDFI Fund will not accept
Applications via email, mail, facsimile, or other forms of
communication, except in extremely rare circumstances that have been
pre-approved in writing by the CDFI Fund. The deadline for submitting
the SF-424 is listed in Tables 1 and 12.
All Applicants must register in the <a href="http://Grants.gov">Grants.gov</a> system to
successfully submit the SF-424. The <a href="http://Grants.gov">Grants.gov</a> registration process can
take 45 days or longer to complete and the CDFI Fund strongly
encourages Applicants to start the <a href="http://Grants.gov">Grants.gov</a> registration process as
early as possible (refer to the following link: <a href="http://www.grants.gov/web/grants/register.html">http://www.grants.gov/web/grants/register.html</a>). Since the <a href="http://Grants.gov">Grants.gov</a> registration process
requires Applicants to have DUNS and EIN numbers, Applicants without
these required numbers should allow for additional time to complete the
<a href="http://Grants.gov">Grants.gov</a> registration process. Further, as described in Section IV.
(E) of this NOFA, new requirements for registration in the System for
Awards Management (SAM), which is required as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process, may take more time than in recent years. The CDFI
Fund will not extend the Application deadline for any Applicant that
started the <a href="http://Grants.gov">Grants.gov</a> registration process but did not complete it by
the deadline. An Applicant that has previously registered with
<a href="http://Grants.gov">Grants.gov</a> must verify that its registration is current and active.
Applicants should contact <a href="http://Grants.gov">Grants.gov</a> directly with questions related to
the registration or submission process as the CDFI Fund does not
maintain the <a href="http://Grants.gov">Grants.gov</a> system.
Each Application must be signed by a designated Authorized
Representative in AMIS before it can be submitted. Applicants must
ensure that an Authorized Representative is an employee or officer and
is authorized to sign legal documents on behalf of the Applicant.
Consultants working on behalf of the Applicant may not be designated as
Authorized Representatives. Only a designated Authorized Representative
or Application Point of Contact, included in the Application, may
submit the Application in AMIS. If an Authorized Representative or
Application Point of Contact does not submit the Application, the
Application will be deemed ineligible.
D. Dun & Bradstreet Universal Numbering System: Pursuant to the
Uniform Requirements, each Applicant must provide as part of its
Application submission, a Dun and Bradstreet Universal Numbering System
(DUNS) number. Applicants without a DUNS number will not be able to
register and submit an Application in the <a href="http://Grants.gov">Grants.gov</a> system. Allow
sufficient time for Dun & Bradstreet to respond to inquiries and/or
requests for DUNS numbers.
E. System for Award Management (SAM): Any entity applying for
Federal grants or other forms of Federal financial assistance through
<a href="http://Grants.gov">Grants.gov</a> must be registered in SAM before submitting its Application.
Registration in SAM is required as part of the <a href="http://Grants.gov">Grants.gov</a> registration
process. The SAM registration process may take one month or longer to
complete. A signed notarized letter identifying the SAM authorized
entity administrator for the entity associated with the DUNS number is
required. This requirement is applicable to new entities registering in
SAM, as well as to existing entities with registrations being updated
or renewed in SAM. Applicants without DUNS and/or EIN numbers should
allow for additional time as an Applicant cannot register in SAM
without those required numbers. Applicants that have previously
completed the SAM registration process must verify that their SAM
accounts are current and active. Each Applicant must continue to
maintain an active SAM registration with current information at all
times during which it has an active Federal award or an Application
under consideration by a Federal awarding agency. The CDFI Fund will
deem ineligible any Applicant that fails to properly register or
activate its SAM account and, as a result, is unable to

[[Page 8099]]

submit the SF-424 in <a href="http://Grants.gov">Grants.gov</a> or Application in AMIS by the
applicable Application deadlines. These restrictions also apply to
organizations that have not yet received a DUNS or EIN number.
Applicants must contact SAM directly with questions related to
registration or SAM account changes as the CDFI Fund does not maintain
this system and has no ability to make changes or correct errors of any
kind. For more information about SAM, visit <a href="https://www.sam.gov">https://www.sam.gov</a>.

Table 11_Grants.gov Registration Timeline Summary
------------------------------------------------------------------------
Estimated minimum
Step Agency time to complete
------------------------------------------------------------------------
Obtain a DUNS number........ Dun & Bradstreet.... One (1) Week. *
Obtain an EIN Number........ Internal Revenue Two (2) Weeks. *
Service (IRS).
Register in <a href="http://SAM.gov">SAM.gov</a>......... System for Award Four (4) Weeks. *
Management
(<a href="http://SAM.gov">SAM.gov</a>).
Register in <a href="http://Grants.gov">Grants.gov</a>...... <a href="http://Grants.gov">Grants.gov</a>.......... One (1) Week. **
------------------------------------------------------------------------
* Applicants are advised that the stated durations are estimates only
and represent minimum timeframes. Actual timeframes may take longer.
The CDFI Fund will deem ineligible any Applicant that fails to
properly register or activate its SAM account, has not yet received a
DUNS or EIN number, and/or fails to properly register in <a href="http://Grants.gov">Grants.gov</a>.
** This estimate assumes an Applicant has a DUNS number, an EIN number,
and is already registered in <a href="http://SAM.gov">SAM.gov</a>.

F. Submission Dates and Times:
1. Submission Deadlines: The following table provides the critical
deadlines for the FY 2022 Funding Round.

Table 12--FY 2022 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern Time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards March 14, 2022............ 11:59 p.m. ET................... AMIS.
Management Information Systems
(AMIS) Account (all
Applicants).
Last day to enter EIN and DUNS March 14, 2022............ 11:59 p.m. ET................... AMIS.
numbers in AMIS (all
Applicants).
Last day to submit SF-424 March 14, 2022............ 11:59 p.m. ET................... Electronically
(Application for Federal via <a href="http://Grants.gov">Grants.gov</a>.
Assistance).
Last day for SECA FA Applicants March 14, 2022............ 11:59 p.m. ET................... Service Request
to request creation of a Core- via AMIS.
FA Application (if requesting
more than $700,000).
Last day to contact CDFI April 8, 2022............. 5:00 p.m. ET.................... Service Request
Program staff. via AMIS. Or
CDFI Fund
Helpdesk: 202-
653-0421.
Last day to contact AMIS-IT April 12, 2022............ 5:00 p.m. ET.................... Service Request
Help Desk (regarding AMIS via AMIS. Or 202-
technical problems only). 653-0422. Or
<a href="/cdn-cgi/l/email-protection#22636f6b71624146444b0c56504743510c454d54">[email&#160;protected]</a>.
Last day to submit CDFI Program April 12, 2022............ 11:59 p.m. ET................... AMIS.
Application for Financial
Assistance (FA) or Technical
Assistance (TA).
----------------------------------------------------------------------------------------------------------------

2. Confirmation of Application Submission in <a href="http://Grants.gov">Grants.gov</a> and AMIS:
Applicants are required to submit the SF-424, Application for Federal
Assistance through the <a href="http://Grants.gov">Grants.gov</a> system, under the CDFI Program
Funding Opportunity Number by the applicable deadline. All other
Required Application Documents (listed in Table 10) must be submitted
through the AMIS website by the applicable deadline. Applicants must
submit the SF-424 prior to submitting the Application in AMIS. If the
SF-424 is not successfully accepted by <a href="http://Grants.gov">Grants.gov</a> by the deadline, the
CDFI Fund will not review the Application submitted in AMIS, and the
Application will be deemed ineligible.
a. <a href="http://Grants.gov">Grants.gov</a> Submission Information: Each Applicant will receive
an email from <a href="http://Grants.gov">Grants.gov</a> immediately after submitting the SF-424
confirming that the submission has entered the <a href="http://Grants.gov">Grants.gov</a> system. This
email will contain a tracking number for the submitted SF-424. Within
48 hours, the Applicant will receive a second email, which will
indicate if the submitted SF-424 was either successfully validated or
rejected with errors. However, Applicants should not rely on the email
notification from <a href="http://Grants.gov">Grants.gov</a> to confirm that their SF-424 was
validated. Applicants are strongly encouraged to use the tracking
number provided in the first email to closely monitor the status of
their SF-424 by contacting the helpdesk at <a href="http://Grants.gov">Grants.gov</a> directly. The
Application material submitted in AMIS is not officially accepted by
the CDFI Fund until <a href="http://Grants.gov">Grants.gov</a> has validated the SF-424.
b. AMIS Submission Information: AMIS is a web-based portal where
Applicants will directly enter their Application information and add
the required attachments listed in Table 10. AMIS will verify that the
Applicant provided the minimum information required to submit an
Application. Applicants are responsible for the quality and accuracy of
the information and attachments included in the Application submitted
in AMIS. The CDFI Fund strongly encourages Applicants to allow for
sufficient time to review and complete all Required Application
Documents listed in Table 10, and remedy any issues prior to the
Application deadline. Each Application must be signed by an Authorized
Representative in AMIS before it can be submitted. Applicants must
ensure that the Authorized Representative is an employee or officer and
is authorized to sign legal documents on behalf of the Applicant.
Consultants working on behalf of the Applicant may not be

[[Page 8100]]

designated as Authorized Representatives. Only an Authorized
Representative or an Application Point of Contact may submit an
Application. If an Authorized Representative or Application Point of
Contact does not submit the Application, the Application will be deemed
ineligible. Applicants may only submit one Base-FA or TA Application
under the CDFI Program. Upon submission, the Application will be locked
and cannot be resubmitted, edited, or modified in any way. The CDFI
Fund will not unlock or allow multiple Application submissions.
3. Late Submission or AMIS Account Creation: The CDFI Fund will not
accept an Application if the SF-424 is not submitted and accepted by
<a href="http://Grants.gov">Grants.gov</a> by the SF-424 deadline listed in Table 1 and Table 12.
Additionally, the CDFI Fund will not accept an Application if it is not
signed by an Authorized Representative and submitted in AMIS by the
Application deadline listed in Table 1 and Table 12. The CDFI Fund will
also not accept an Application from an Applicant that failed to create
an AMIS account by the deadlines specified in Table 1 and Table 12. In
these cases, the CDFI Fund will not review any material submitted, and
the Application will be deemed ineligible. However, in cases where a
Federal government administrative or technological error directly
resulted in precluding an Applicant from submitting the SF-424, the
Application, or creating an AMIS account by the deadlines stated in
this NOFA, Applicants are provided the opportunity to submit a written
request for acceptance of late submissions. The CDFI Fund will not
consider the late submission of the SF-424, the Application, or the
late creation of an AMIS account that was a direct result of a delay in
a Federal Government process, unless such delay was the result of a
Federal government administrative or technological error.
a. Creation of AMIS Account: In cases where a Federal government
administrative or technological error directly resulted in precluding
an Applicant from creating an AMIS account by the required deadline,
the Applicant must submit a written request for approval to create its
AMIS account after the deadline, and include documentation of the
error, no later than two business days after the AMIS account creation
deadline. The CDFI Fund will not respond to requests for creating an
AMIS account after that time. Applicants must submit such request via
an AMIS Service Request to the CDFI Program or an email to
<a href="/cdn-cgi/l/email-protection#86e5e2e0efeee3eaf6c6e5e2e0efa8f2f4e3e7f5a8e1e9f0">[email&#160;protected]</a> with a subject line of ``AMIS Account Creation
Deadline Extension Request.''
b. SF-424 Late Submission: In cases where a Federal government
administrative or technological error directly resulted in precluding
an Applicant from submitting the SF-424 by the required deadline, the
Applicant must submit a written request for acceptance of the late SF-
424 submission and include documentation of the error no later than two
business days after the SF-424 deadline. The CDFI Fund will not respond
to requests for acceptance of late SF-424 submissions after that time
period. Applicants must submit late SF-424 submission requests to the
CDFI Fund via an AMIS Service Request to the CDFI Program with a
subject line of ``Late SF-424 Submission Request.''
c. Application Late Submission: In cases where a Federal government
administrative or technological error directly resulted in precluding
an Applicant from submitting the Application in AMIS by the required
deadline, the Applicant must submit a written request for acceptance of
the late Application submission and include documentation of the error
no later than two business days after the Application deadline. The
CDFI Fund will not respond to requests for acceptance of late
Application submissions after that time period. Applicants must submit
late Application submission requests to the CDFI Fund via an AMIS
Service Request to the CDFI Program with a subject line of ``Late
Application Submission Request.''
G. Funding Restrictions: Base-FA, PPC-FA, DF-FA, HFFI-FA and TA
awards are limited by the following:
1. Base-FA Awards:
a. A Recipient shall use Base-FA funds only for the eligible
activities described in Section II. (C)(1) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, Base-FA awards may not be used to support the activities
of, or otherwise be passed through, transferred, or co-awarded to,
third-party entities, whether Affiliates, Subsidiaries, or others,
unless done pursuant to a merger or acquisition or similar transaction,
and with the CDFI Fund's prior written consent.
c. Base-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay Base-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
2. PPC-FA Awards:
a. A Recipient shall use PPC-FA funds only for the eligible
activities described in Section II. (C)(5) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, PPC-FA awards may not be used to support the activities of,
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless
done pursuant to a merger or acquisition or similar transaction, and
with the CDFI Fund's prior written consent.
c. PPC-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay PPC-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
3. DF-FA Awards:
a. A Recipient shall use DF-FA funds only for the eligible
activities described in Section II. (C)(2) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, DF-FA awards may not be used to support the activities of,
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless
done pursuant to a merger or acquisition or similar transaction, and
with the CDFI Fund's prior written consent.
c. DF-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay DF-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
4. HFFI-FA Awards:
a. A Recipient shall use HFFI-FA funds only for the eligible
activities described in Section II. (C)(4) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company

[[Page 8101]]

Applicants, HFFI-FA awards may not be used to support the activities
of, or otherwise be passed through, transferred, or co-awarded to,
third-party entities, whether Affiliates, Subsidiaries, or others,
unless done pursuant to a merger or acquisition or similar transaction,
and with the CDFI Fund's prior written consent.
c. HFFI-FA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay HFFI-FA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
5. TA Grants:
a. A Recipient shall use TA funds only for the eligible activities
described in Section II. (C) (3) of this NOFA and its Assistance
Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, TA awards may not be used to support the activities of, or
otherwise be passed through, transferred, or co-awarded to, third-party
entities, whether Affiliates, Subsidiaries, or others, unless done
pursuant to a merger or acquisition or similar transaction, and with
the CDFI Fund's prior written consent.
c. TA funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay TA funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.

V. Application Review Information

A. Criteria: If the Applicant has submitted an eligible
Application, the CDFI Fund will conduct a substantive review in
accordance with the criteria and procedures described in the
Regulations, this NOFA, the Application guidance, and the Uniform
Requirements. The CDFI Fund reserves the right to contact the Applicant
by telephone, email, or mail for the purpose of clarifying or
confirming Application information. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or risk
that its Application will be rejected. The CDFI Fund will review the
Base-FA, DF-FA, PPC-FA, HFFI-FA, and TA Applications in accordance with
the process below. All internal and external reviewers will complete
the CDFI Fund's conflict of interest process. The CDFI Fund's
Application conflict of interest policy is located on the CDFI Fund's
website.
1. Base-FA Application Scoring, Award Selection, Review, and
Selection Process: The CDFI Fund will evaluate each Application using a
five-step review process illustrated in the sections below. Applicants
that meet the minimum criteria will advance to the next step in the
review process. Applicants applying as a Community Partnership must
describe the partnership in the Application pursuant to the
requirements set forth in Table 8, and will be evaluated in accordance
with the review process described below.
a. Step 1: Eligibility Review: The CDFI Fund will evaluate each
Application to determine its eligibility status pursuant to Section III
of this NOFA.
b. Step 2: Financial Analysis and Compliance Risk Evaluation:
i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI
Fund will consider financial safety and soundness information from the
Appropriate Federal or State Banking Agency. As detailed in Table 8,
each Regulated Institution FA Applicant (including a subsidiary
Depository Institution that will expend and carry out the activities of
an award on behalf of a Depository Institution Holding Company
Applicant) must have a CAMELS/CAMEL rating of at least ``3'' and/or no
significant material concerns from its regulator.
For non-regulated Applicants, the CDFI Fund will evaluate the
financial health and viability of each non-regulated Applicant using
financial information provided by the Applicant. For the Financial
Analysis, each non-regulated Applicant will receive a Total Financial
Composite Score on a scale of one (1) to five (5), with one (1) being
the highest rating. The Total Financial Composite Score is based on the
analysis of twenty-three (23) financial indicators. Applications will
be grouped based on the Total Financial Composite Score. Applicants
must receive a Total Financial Composite Score of one (1), two (2), or
three (3) to advance to Step 3. Applicants that receive an initial
Total Financial Composite Score of four (4) or five (5) will be re-
evaluated and re-scored by CDFI Fund staff. If the Total Financial
Composite Score remains four (4) or five (5) after CDFI Fund staff
review, the Applicant will not advance to Step 3.
ii. Step 2: Compliance Risk Evaluation: For the compliance
analysis, the CDFI Fund will evaluate the compliance risk of each
Applicant using information provided in the Application as well as an
Applicant's reporting history, reporting capacity, and performance risk
with respect to the CDFI Fund's PG&Ms. Each Applicant will receive a
Total Compliance Composite Score on a scale of one (1) to five (5),
with one (1) being the highest rating. Applicants that receive an
initial Total Compliance Composite Score of four (4) or five (5) will
be re-evaluated by CDFI Fund staff. If the Applicant is deemed a high
compliance risk after CDFI Fund staff review, the Applicant will not
advance to Step 3.
c. Step 3: Business Plan Review: Applicants that proceed to Step 3
will be evaluated on the soundness of their comprehensive business
plan. Two external non-CDFI Fund Reviewers will conduct the Step 3
evaluation. Reviewers will evaluate the Application sections listed in
Table 13. All Applications will be reviewed in accordance with standard
reviewer evaluation materials. Applications will be ranked based on
Total Business Plan Scores, in descending order. In order to advance to
Step 4, Applicants must receive a Total Business Plan Score that is
either (1) equal to receiving a point score equivalent to a ``Good''
out of a ranking scale in descending order of Excellent, Good, Fair,
Limited or Poor, in each section listed in Table 13, or (2) within the
top 60% of the Core Applicant pool for Core Applicants or within the
top 70% of the SECA Applicant pool for SECA Applicants, whichever is
greater. In the case of tied Total Business Plan Scores that would
prevent an Applicant from moving to Step 4, all Applicants with the
same score will progress to Step 4. Lastly, the CDFI Fund may consider
the geographic diversity of Applicants when determining the Step 4
Applicant pool.

Table 13--Step 3: Base-FA Business Plan Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
Base-FA application sections Possible score Score needed to advance
----------------------------------------------------------------------------------------------------------------
Executive Summary................... Not Scored...................... N/A.

[[Page 8102]]

Business Strategy................... 12.............................. N/A.
Market and Competitive Analysis..... 7............................... N/A.
Products and Services............... 12.............................. N/A.
Management and Track Record......... 12.............................. N/A.
Growth and Projections.............. 7............................... N/A.
---------------------------------------------------------------------------
Total Business Plan Score....... 50.............................. Core Applicants: Top 60% of all Core
Applicant Step 3 Scores. SECA
Applicants: Top 70% of all SECA
Applicant Step 3 Scores.
----------------------------------------------------------------------------------------------------------------

d. Step 4: Policy Objective Review: The CDFI Fund internal
reviewers will evaluate each Application to determine its ability to
meet policy objectives of the CDFI Fund. Each Applicant will be
evaluated in each of the categories listed in Table 14 below, and will
receive a Total Policy Objective Review Composite Score on a scale of
one (1) to five (5), with one (1) being the highest score. Applicants
are then grouped according to Total Policy Objective Review Scores.
The CDFI Fund also conducts a due diligence review for Applications
that includes an analysis of programmatic risk factors including, but
not limited to: History of performance in managing Federal awards
(including timeliness of reporting and compliance); ability to meet FA
Objective(s) selected by Base-FA Applicants in their Applications;
reports and findings from audits; and the Applicant's ability to
effectively implement Federal requirements, each of which could impact
the Total Policy Objective Review Score.

Table 14--Step 4: Base-FA Policy Review Scoring Criteria
----------------------------------------------------------------------------------------------------------------
Section Possible scores High score Score needed to advance
----------------------------------------------------------------------------------------------------------------
Economic Distress................. 1, 2, 3, 4, or 5.... 1 N/A.
Economic Opportunities............ 1, 2, 3, 4, or 5.... 1 N/A.
Community Collaboration........... 1, 2, 3, 4, or 5.... 1 N/A.
-----------------------------------------------------------------------------
Total Policy Objective Review 1, 2, 3, 4, or 5.... 1 All Scores Advance.
Composite Score.
----------------------------------------------------------------------------------------------------------------

e. Step 5: Award Amount Determination: The CDFI Fund determines an
award amount for each Application based on the Step 4 Total Policy
Objective Review Score, the Applicant's request amount, and on certain
other factors, including but not limited to, the Applicant's deployment
track record, minimum award size, and funding availability. Applicants
may have Award amounts reduced from the requested award amount or not
funded as a result of this analysis. Based on funding availability for
Core, SECA, and/or NACA Base-FA Applicant types, the CDFI Fund reserves
the right to not award all Applicants that advance to Step 5. In cases
where funding availability is not sufficient to award all Applications,
priority will be given to Applicants that score highest on the Step 4
Policy Objective review in each Applicant type Category (Core, SECA
and/or NACA). For Core FA Applicants, the award cannot exceed 30% of
the Applicant's total portfolio outstanding as of the Applicant's most
recent historic fiscal year end. For SECA FA Applicants, the award
cannot exceed 75% of the Applicant's total portfolio outstanding as of
the Applicant's most recent historic fiscal year end, or the minimum
award size as noted in Table 2, whichever is greater.
2. Healthy Food Financing Initiative-FA (HFFI-FA) Application
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund
internal reviewer will evaluate each HFFI-FA Application associated
with a Base-FA Application that progresses to Step 4 of the FA
Application review process. The reviewer will evaluate the Application
sections listed in Table 15 and assign a Total HFFI-FA Score up to 60
points. The CDFI Fund will make awards to the highest scoring
Applicants first. All Applications will be reviewed in accordance with
standard reviewer evaluation materials. Applicants that fail to receive
a Base-FA award will not be considered for a HFFI-FA award.
The CDFI Fund conducts additional levels of due diligence for
Applications that are under consideration for an HFFI-FA award. Award
amounts may be reduced from the requested award amount as a result of
this analysis. The CDFI Fund may reduce awards sizes from requested
amounts based on certain variables, including but not limited to, an
Applicant's loan disbursement activity, total portfolio outstanding, or
compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may
consider the geographic diversity of Applicants when making its funding
decisions.

Table 15--Step 4 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
Possible score
Sections (points)
------------------------------------------------------------------------
Target Market Profile................................. 10
Healthy Food Financial Products....................... 10
Projected HFFI-FA Activities.......................... 15

[[Page 8103]]

HFFI Track Record..................................... 20
Management Capacity for Providing Healthy Food 5
Financing............................................
-----------------
Total HFFI-FA Possible Score...................... 60
------------------------------------------------------------------------

3. Persistent Poverty Counties--Financial Assistance (PPC-FA)
Application Scoring, Award Selection, Review, and Selection Process: A
CDFI Fund internal reviewer will evaluate the PPC-FA request of each
associated Base-FA Application that progresses to Step 4 of the FA
Application review process. PPC-FA requests are not scored. PPC-FA
award amounts will be determined based on the total number of eligible
Applicants and funding availability, the Applicant's requested amount,
and on certain factors, including but not limited to, an Applicant's
overall portfolio size, historical track record of deployment in PPC,
pipeline of projects in PPC, minimum award size, and funding
availability. Applicants that fail to receive a Base-FA award will not
be considered for a PPC-FA award.
4. Disability Funds-Financial Assistance (DF-FA) Application
Scoring, Award Selection, Review, and Selection Process: A CDFI Fund
internal reviewer will evaluate each DF-FA Application associated with
a Base-FA Application that progresses to Step 4 of the FA Application
review process. The reviewer will evaluate the Application and assign a
Total DF-FA Score on a scale of one (1) to three (3), with one (1)
being the highest score. Applicants are then grouped according to Total
DF-FA Score. All Applications will be reviewed in accordance with
standard reviewer evaluation materials. Applicants that fail to receive
a Base-FA award will not be considered for a DF-FA award. Award amounts
will be determined on the basis of the Total DF-FA Score, the
Applicant's requested amount, and on certain factors, including but not
limited to, an Applicant's deployment track record, minimum award size,
and funding availability. Award amounts may be reduced from the
requested award amount as a result of this analysis. The CDFI Fund will
make awards to the highest scoring Applicants first.

Table 16--Step 3 DF-FA Application Scoring Criteria
------------------------------------------------------------------------
Section Possible scores High score
------------------------------------------------------------------------
DF-FA Narrative Questions......... 1, 2, or 3.......... 1
-------------------------------------
Total DF-FA Score............. 1, 2, or 3.......... 1
------------------------------------------------------------------------

5. Technical Assistance (TA) Application Scoring, Award Selection,
Review, and Selection Process: The CDFI Fund will evaluate each
Application to determine its eligibility pursuant to Section III of
this NOFA. If the Application satisfies the eligibility criteria, the
CDFI Fund will evaluate the TA Application. Emerging CDFI Applicants
must receive a rating of Low Risk or Medium Risk in Section I of the TA
Business Plan Review to progress to Section II of the TA Business Plan
Review. Emerging CDFI Applicants that receive a rating of High Risk in
Section I of the TA Business Plan Review will not be considered for an
award. Section I of the TA Business Plan Review is not applicable for
Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants
must receive a rating of Low Risk or Medium Risk in Section II of the
TA Business Plan Review to be considered for an award. Applicants that
receive a rating of High Risk in Section II of the TA Business Plan
Review will not be considered for an award. An Applicant that is a
Certified CDFI will be evaluated on the demonstrated need for TA
funding to build the CDFI's capacity, further the Applicant's strategic
goals, and achieve impact within the Applicant's Target Market. An
Applicant that is an Emerging CDFI will be evaluated on the Applicant's
demonstrated capability and plan to achieve CDFI certification within
three years, or if a prior Recipient, the certification PG&M stated in
its prior Assistance Agreement. An Applicant that is an Emerging CDFI
will also be evaluated on its demonstrated need for TA funding to build
the CDFI's capacity and further its strategic goals. The CDFI Fund will
rate each part of the TA Business Plan Review as indicated in Table 17.

Table 17--A Business Plan Review
----------------------------------------------------------------------------------------------------------------
Business plan review component Applicant type Ratings
----------------------------------------------------------------------------------------------------------------
Section I:
Primary Mission................ Emerging CDFI Applicants.. Low Risk, Medium Risk, or High Risk.
Financing Entity............... Emerging CDFI Applicants..
Target Market.................. Emerging CDFI Applicants..
Accountability................. Emerging CDFI Applicants..
Development Services........... Emerging CDFI Applicants..
Section II:
Target Market Needs & Strategy. Emerging and Certified Low Risk, Medium Risk, or High Risk.
CDFI Applicants.
Organizational Capacity........ Emerging and Certified
CDFI Applicants.

[[Page 8104]]

Management Capacity............ Emerging and Certified
CDFI Applicants.
----------------------------------------------------------------------------------------------------------------

Each TA Application will be evaluated by one internal CDFI Fund
reviewer. All Applications will be reviewed in accordance with CDFI
Fund standard reviewer evaluation materials for the Business Plan
Review.
The CDFI Fund conducts additional levels of due diligence for
Applications that are under consideration for an award. This due
diligence includes an analysis of programmatic and financial risk
factors including, but not limited to, financial stability, history of
performance in managing Federal awards (including timeliness of
reporting and compliance), reports and findings from audits, and the
Applicant's ability to effectively implement Federal requirements. The
CDFI Fund will also evaluate the compliance risk of each Applicant
using information provided in the Application as well as an Applicant's
reporting history, reporting capacity, and performance risk with
respect to the CDFI Fund's PG&Ms. Each Applicant will receive a Total
Compliance Composite Score on a scale of one (1) to five (5), with one
(1) being the highest rating. Applicants that receive an initial Total
Compliance Composite Score of four (4) or five (5) will be re-evaluated
by CDFI Fund staff. If the Applicant is deemed a high compliance risk
after CDFI staff review, the Applicant will not be considered for an
award. The CDFI Fund will also evaluate the Applicant's ability to meet
certification criteria of being a legal entity and a non-government
entity. Award amounts may be reduced as a result of the due diligence
analysis in addition to consideration of the Applicant's funding
request and similar factors. Lastly, the CDFI Fund may consider the
geographic diversity of Applicants when making its funding decisions.
6. Regulated Institutions: The CDFI Fund will consider safety and
soundness information from the Appropriate Federal or State Banking
Agency. If the Applicant is a CDFI Depository Institution Holding
Company, the CDFI Fund will consider information provided by the
Appropriate Federal or State Banking Agencies about both the CDFI
Depository Institution Holding Company and the Certified CDFI
Subsidiary Insured Depository Institution that will expend and carry
out the award. If the Appropriate Federal or State Banking Agency
identifies safety and soundness concerns (including any concerns for
Subsidiary Depository Institutions carrying out the activities of an
award on behalf of a CDFI Depository Institution Holding Company), the
CDFI Fund will assess whether such concerns cause or will cause the
Applicant to be incapable of undertaking the activities for which
funding has been requested.
7. Non-Regulated Institutions: The CDFI Fund must ensure, to the
maximum extent practicable, that Recipients which are non-regulated
CDFIs are financially and managerially sound, and maintain appropriate
internal controls (12 U.S.C. 4707(f)(1)(A) and 12 CFR 1805.800(b)).
Further, the CDFI Fund must determine that an Applicant's capacity to
operate as a CDFI and its continued viability will not be dependent
upon assistance from the CDFI Fund (12 U.S.C. 4704(b)(2)(A)). If it is
determined that the Applicant is incapable of meeting these
requirements, the CDFI Fund reserves the right to deem the Applicant
ineligible or terminate the award.
B. Anticipated Award Announcement: The CDFI Fund anticipates making
CDFI Program award announcement before September 30, 2022. However, the
anticipated award Announcement Date is subject to change without
notice.
C. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative errors)
comes to the CDFI Fund's attention that: Adversely affects an
Applicant's eligibility for an award; adversely affects the Recipient's
certification as a CDFI (to the extent that the award is conditional
upon CDFI certification); adversely affects the CDFI Fund's evaluation
or scoring of an Application; or indicates fraud or mismanagement on
the Applicant's part. If the CDFI Fund determines any portion of the
Application is incorrect in a material respect, the CDFI Fund reserves
the right, in its sole discretion, to reject the Application. The CDFI
Fund reserves the right to change its eligibility and evaluation
criteria and procedures, if the CDFI Fund deems it appropriate. If the
changes materially affect the CDFI Fund's award decisions, the CDFI
Fund will provide information about the changes through its website.
The CDFI Fund's award decisions are final, and there is no right to
appeal decisions.
D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund
reviewers are selected based on criteria that includes a professional
background in community and economic development finance, and
experience reviewing the financial statements of all CDFI institution
types. Reviewers must complete the CDFI Fund's conflict of interest
process and be approved by the CDFI Fund. The CDFI Fund's Application
reader conflict of interest policy is located on the CDFI Fund's
website.

VI. Federal Award Administration Information

A. Award Notification: Each successful Applicant will receive an
email ``notice of award'' notification from the CDFI Fund stating that
its Application has been approved for an award. Each Applicant not
selected for an award will receive an email stating that a debriefing
notice has been provided in its AMIS account.
B. Assistance Agreement: Each Applicant selected to receive an
award must enter into an Assistance Agreement with the CDFI Fund in
order to receive a payment(s). The Assistance Agreement will set forth
the award's terms and conditions, including but not be limited to the:
(i) Award amount; (ii) award type; (iii) award uses; (iv) eligible use
of funds; (v) PG&Ms; and (vi) reporting requirements. FA Assistance
Agreements have three-year Periods of Performance. TA Assistance
Agreements have two-year Period of Performance for Certified C

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This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.