Notice2022-13452
Funding Opportunity: Community Development Financial Institutions Equitable Recovery Program (CDFI ERP)
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 24, 2022
Issuing agencies
Treasury DepartmentCommunity Development Financial Institutions Fund
Abstract
The Community Development Financial Institutions Fund (CDFI Fund) is launching the CDFI Equitable Recovery Program (CDFI ERP) to provide awards of up to $15 million to Certified Community Development Financial Institutions (CDFIs) \2\ for the following purposes: (1) to expand lending, grant making and investment activity in Low- or Moderate-Income communities and to borrowers, including minorities, that have significant unmet capital or financial services needs, and were disproportionately impacted by the COVID-19 pandemic; and (2) to enable CDFIs to build organizational capacity and acquire technology, staff, and other tools necessary to accomplish the activities under a CDFI ERP Award. All Awards provided through this NOFA are subject to funding availability. ---------------------------------------------------------------------------
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 121 (Friday, June 24, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 121 (Friday, June 24, 2022)]
[Notices]
[Pages 37912-37927]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-13452]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Funding Opportunity: Community Development Financial Institutions
Equitable Recovery Program (CDFI ERP)
Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for grants under the CDFI Equitable Recovery
Program (CDFI ERP).
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2022-ERP.
Catalog of Federal Domestic Assistance (CFCA) Number: 21.033.
Dates:
Table 1--Critical Deadlines for CDFI ERP Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time, ET) Submission method
----------------------------------------------------------------------------------------------------------------
Submit OMB Standard Form-424 July 26, 2022.............. 11:59 p.m. ET.............. Electronically via
Mandatory (Application for <a href="http://Grants.gov">Grants.gov</a>.
Federal Assistance) (SF-424).
Enter Employer Identification July 26, 2022.............. 11:59 p.m. ET.............. Electronically via
Number (EIN) and Unique Entity Awards Management
Identifier (UEI) numbers in AMIS. Information System
(AMIS).
Last day to contact CDFI Fund August 19, 2022............ 5:00 p.m. ET............... Service Request \1\
with questions about the CDFI via AMIS or
ERP. <a href="/cdn-cgi/l/email-protection#4f2a3d3f0f2c2b2926613b3d2a2e3c61282039"><span class="__cf_email__" data-cfemail="5d382f2d1d3e393b3473292f383c2e733a322b">[email protected]</span></a>
or 202-653-0421.
Last day to contact CDFI Fund August 19, 2022............ 5:00 p.m. ET............... Compliance and
with questions about Compliance Reporting AMIS
or CDFI Certification. Service Request or
202-653-0423.
Last day to contact AMIS-IT Help August 23, 2022............ 5:00 p.m. ET............... Service Request via
Desk (regarding AMIS technical AMIS or
problems only). <a href="/cdn-cgi/l/email-protection#b7f6fafee4f7d4d3d1de99c3c5d2d6c499d0d8c1"><span class="__cf_email__" data-cfemail="88c9c5c1dbc8ebeceee1a6fcfaede9fba6efe7fe">[email protected]</span></a> or 202-653-0422.
Submit complete CDFI ERP August 23, 2022............ 11:59 p.m. ET.............. Electronically via
Application Package. AMIS.
----------------------------------------------------------------------------------------------------------------
Executive Summary: The Community Development Financial Institutions
Fund (CDFI Fund) is launching the CDFI Equitable Recovery Program (CDFI
ERP) to provide awards of up to $15 million to Certified Community
Development Financial Institutions (CDFIs) \2\ for the following
purposes: (1) to expand lending, grant making and investment activity
in Low- or Moderate-Income communities and to borrowers, including
minorities, that have significant unmet capital or financial services
needs, and were disproportionately impacted by the COVID-19 pandemic;
and (2) to enable CDFIs to build organizational capacity and acquire
technology, staff, and other tools necessary to accomplish the
activities under a CDFI ERP Award. All Awards provided through this
NOFA are subject to funding availability.
---------------------------------------------------------------------------
\1\ Service Request means a written inquiry or notification
submitted to the CDFI Fund via AMIS.
\2\ Certified CDFI shall mean an entity that the CDFI Fund has
officially notified that it meets all CDFI certification
requirements set forth in 12 CFR part 1805.
---------------------------------------------------------------------------
I. Program Description
A. History: The CDFI Fund was established by the Riegle Community
Development and Regulatory Improvement Act of 1994 (Pub. L. 103-325)
(Riegle Act) to promote economic revitalization and community
development through investment in and assistance to CDFIs. The CDFI ERP
was authorized by Congress to provide grants to CDFIs to respond to the
economic impact of the COVID-19 pandemic.
B. Authorizing Statutes and Regulations: Pursuant to Sec. 523
(Section 523) of Division N of the Consolidated Appropriations Act,
2021 (Pub. L. 116-260), Congress authorized the CDFI ERP. The
regulations governing the CDFI Program are found at 12 CFR parts 1805
and 1815 (the Regulations) and are used by the CDFI Fund to govern,
where applicable, the CDFI ERP. For a complete understanding of the
program, the CDFI Fund encourages Applicants to review this NOFA; the
CDFI ERP Application (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).
Capitalized terms used but not defined in this NOFA are defined in the
Regulations, the Application, the Application Materials, or the Uniform
Requirements. Details regarding Application content requirements are
available in the
[[Page 37913]]
Application and Application Materials at <a href="http://www.cdfifund.gov/erp">www.cdfifund.gov/erp</a>.
C. Priorities: The objectives of the CDFI ERP are: (1) to provide
funding to CDFIs to expand lending, grant making and investment
activities in Low- or Moderate-Income communities and to borrowers,
including minorities, that have significant unmet capital or financial
services needs, and were disproportionately impacted by the COVID-19
pandemic, and (2) to enable CDFIs to build organizational capacity and
acquire technology, staff, and other tools necessary to accomplish the
activities under a CDFI ERP Award. The activities funded with a CDFI
ERP Award will respond to economic impacts of the COVID-19 pandemic
such as job loss; disruptions in health and mental healthcare;
disruptions in childcare; increased housing instability; decreased
availability of and increased cost of financing for affordable housing
and home ownership; exacerbated inaccessibility to broadband internet;
increased food insufficiency; disruptions in operations for small
businesses, Small Farms and nonprofit organizations; and other negative
impacts.
To pursue these objectives, the CDFI Fund will prioritize funding
Applications that commit to use their CDFI ERP Awards in ERP-Eligible
Geographies. These geographies are defined in in Section II.D.2 of this
NOFA in order to achieve the statutory objective of directing CDFI ERP
activities to Low- or Moderate-Income communities and to borrowers,
including minorities, that have significant unmet capital or financial
services needs, and were disproportionately impacted by the COVID-19
pandemic. The CDFI Fund will also prioritize funding Applications that
commit to provide one of the following: (1) Financial Products,
Financial Services, Development Services and/or Grants to Low- or
Moderate-Income Minority communities; (2) Financial Products, Financial
Services, Development Services and/or Grants to Minorities that have
significant unmet capital or financial services needs; (3) Financial
Products, Financial Services, Development Services and/or Grants to
serve Persistent Poverty Counties, Native Areas and/or U.S.
Territories; (4) Financial Products, Financial Services, Development
Services and/or Grants to small businesses with less than $1 million in
annual gross revenue or to Small Farms, with an emphasis on serving
small businesses with less than $100,000 in annual revenue; or (5)
increased lending in ERP-Eligible Geographies.
In further pursuit of the program objectives, the CDFI ERP will
prioritize Applicants with a track record of: (1) making loans, grants,
or investments in Low- or Moderate-Income Minority communities that are
also ERP-Eligible Geographies; (2) making loans, grants, or investments
to Minorities that have significant unmet capital or financial services
needs; (3) making loans, grants, or investments in Persistent Poverty
Counties, Native Areas, and/or U.S. Territories; (4) making loans,
grants, or investments to small businesses with less than $1 million in
annual gross revenue or to Small Farms, with an emphasis on small
businesses with less than $100,000 in annual gross revenue; (5)
increasing lending in ERP-Eligible Geographies; (6) creating new
Financial Products and Grants to support ERP-Eligible Geographies; and
(7) expanding into previously unserved ERP-Eligible Geographies.
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 awarding 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 certification status,
financial and compliance performance, business strategy and proposed
community impacts, organizational capacity, history of performance, and
single audit findings, among other criteria outlined in this NOFA. In
addition, the Uniform Requirements include guidance on audit
requirements and other award compliance requirements for Recipients.
II. Federal Award Information
A. Funding Availability: The CDFI Fund plans to award up to $1.73
billion in grants to CDFIs under this NOFA. The minimum Award size will
be $500,000. The maximum Award size will be $15,000,000 or three times
the Applicant's average on-balance sheet Financial Products closed in
its five most recent historic fiscal years,\3\ whichever is less. The
average Award amount will depend on the number of CDFI ERP Awards made.
For example, if there are 400 Awards, the estimated average Award would
be approximately $4.3 million; if there are 550 Awards, the estimated
average Award would be approximately $3.1 million. Final award sizes
will be based on the number and quality of the Applications received,
along with the evaluation factors outlined in Section V of this NOFA.
---------------------------------------------------------------------------
\3\ For the purposes of this NOFA, an Applicant's most recent
historic fiscal year is determined as follows:
(A) Applicants with a 3/31 fiscal year end date and a completed
FY 2022 audit will treat FY 2022 as their most recent historic
fiscal year.
(B) Applicants with a 3/31 fiscal year end date but without a
completed FY 2022 audit will treat FY 2021 as their most recent
historic fiscal year.
(C) Applicants with a 6/30 fiscal year end date will treat FY
2021 as their most recent historic fiscal year.
(D) Applicants with a 9/30 fiscal year end date will treat FY
2021 as their most recent historic fiscal year.
(E) Applicants with a 12/31 fiscal year end date will treat FY
2021 as their most recent historic fiscal year.
---------------------------------------------------------------------------
The CDFI Fund reserves the right, in its sole discretion, to
provide a CDFI ERP Award in an amount less than that which the
Applicant requests. The Award amount will not exceed the Applicant's
Award request as stated in its Application, nor will the Award amount
be less than the Applicant's minimum Award request if one is provided
in the Application. Additionally, the CDFI Fund reserves the right to
not award the full amount of funding available if it determines an
insufficient number of qualified Applications has been received to
effectively award all available funding. The CDFI Fund reserves the
right to fund, in whole or in part, some, all, or none of the
Applications submitted in response to this NOFA.
B. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the Period of Performance for the CDFI ERP to begin early
calendar year (CY) 2023. The Period of Performance for each CDFI ERP
Award begins with the date that the CDFI Fund announces the Recipients
of the CDFI ERP Awards and includes a Recipient's five full consecutive
fiscal years after the date of the CDFI ERP Award Announcement, during
which time the Recipient must meet the Performance Goals and Measures
(PG&Ms) set forth in the Assistance Agreement. The Budget Period \4\
for a CDFI ERP Award
[[Page 37914]]
is the same as the Period of Performance.
---------------------------------------------------------------------------
\4\ 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 Budget Period for CDFI ERP Program Awards begins with the date
of the Award announcement and includes a Recipient's five full
consecutive fiscal years after the date of the Award announcement.
---------------------------------------------------------------------------
C. Types of Awards: The CDFI Fund will provide CDFI ERP Awards in
the form of grants to support the eligible activities as set forth in
this NOFA and Application.
D. Eligible Activities:
1. Eligible Uses of Funds. CDFI ERP Award funds may be expended for
two types of eligible activities: (1) financial products and services
and (2) operational support. Financial products and services may serve
commercial real estate, small businesses, microenterprise, community
facilities, and affordable housing, and also includes consumer
financial products, consumer financial services, commercial financial
products, commercial financial services, intermediary lending to non-
profits and CDFIs, and other lines of business as deemed appropriate by
the CDFI Fund in the following six eligible financial products and
services categories: (i) Financial Products; (ii) Financial Services;
(iii) Development Services: (iv) Grants; (v) Loan Loss Reserves; and
(vi) Capital Reserves. In addition, a portion of a CDFI ERP Award may
also be used for the following seven eligible operational support
categories: (vii) Compensation--Personal Services; (viii)
Compensation--Fringe Benefits; (ix) Professional Service Costs; (x)
Travel Costs; (xi) Training and Education Costs; (xii) Equipment; and
(xiii) Supplies. There are limitations on the portion of a CDFI ERP
Award that may be used for different eligible activities categories.
For any award size, no more than 25% of the Award amount may be used
for Financial Services and Development Services combined. Additionally,
the Recipient may use up to the greater of $166,667 or 15% of the Award
amount, up to a maximum of $400,000, for eligible activities in the
above operational support categories (vii)-(xiii) combined.
CDFI ERP Awards may only be used for Direct Costs associated with
an eligible activity. Direct Costs are those incurred by the Recipient
to carry out the eligible activities as described in section 2 CFR
200.413 of the Uniform Requirements. The eligible activity categories
are not 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 of the
Uniform Requirements.
The CDFI ERP budget is the amount of the Award and must be expended
in the 13 eligible activity categories by the end of the Budget Period.
The CDFI Fund will not approve an amendment to extend the Period of
Performance to allow a Recipient additional time to expend the CDFI ERP
Award.
For purposes of this NOFA, the 13 eligible activity categories are
defined below:
---------------------------------------------------------------------------
\5\ Regulated Institutions include Insured Credit Unions,
Insured Depository Institutions, State-Insured Credit Unions and
Depository Institution Holding Companies.
Table 2--CDFI ERP Eligible Activity Categories
------------------------------------------------------------------------
Eligible CDFI
Eligible activity Eligible activity institution
definition types
------------------------------------------------------------------------
i. Financial Products......... Award funds expended All.
as loans, Equity
Investments 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.
ii. Financial Services........ Award funds expended Regulated
for providing Institutions
checking, savings \5\ only.
accounts, check
cashing, money
orders, certified
checks, automated
teller machines,
deposit taking, safe
deposit box services,
and other similar
services.
iii. Development Services..... Award funds expended All.
for activities
undertaken by a 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.
iv. Grants.................... Award funds expended All.
in the form of Grants
to mitigate the
economic impact of
the COVID-19
pandemic. Grants are
funds transferred
without a repayment
requirement to a
person, business, or
other organization
that are designated
for the specific
purpose of mitigating
the economic impacts
of the COVID-19
pandemic.
v. Loan Loss Reserves......... Award funds set aside All.
in the form of cash
reserves, 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.
vi. Capital Reserves.......... Award funds set aside Regulated
as reserves to Institutions
support the \5\ only.
Applicant's ability
to leverage other
capital, for such
purposes as
increasing its net
assets or providing
financing, or for
related purposes as
the CDFI Fund deems
appropriate.
------------------------------------------------------------------------
As described below, CDFI ERP Award funds may also be used for
operational support in amounts of (1) up to 33% of the Award amount for
Awards of $500,000 and (2) up to 15% of the Award Amount or $166,667,
whichever is greater, for Awards above $500,000, up to a maximum amount
of $400,000..
------------------------------------------------------------------------
[[Page 37915]]
vii. Compensation--Personal Award funds paid to All.
Services. cover all
remuneration, paid
currently or accrued,
for services of
Applicant's employees
rendered during the
Period of Performance
under the CDFI ERP
Award in accordance
with section 200.430
of the Uniform
Requirements.
Any work performed
directly, but
unrelated to the
purposes of the CDFI
ERP Award, may not be
paid as Compensation
using a CDFI ERP
Award. For example,
the salaries for
building maintenance
personnel would not
carry out the purpose
of a CDFI ERP Award
and would be deemed
unallowable.
viii. Compensation--Fringe Award funds paid to All.
Benefits. cover allowances and
services provided by
the Applicant to its
employees as
Compensation in
addition to regular
salaries and wages,
in accordance with
section 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.
ix. Professional Service Costs Award funds used to All.
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 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. The
Applicant must
comply, as
applicable, with
section 2 CFR 200.216
of the Uniform
Requirements, with
respect to payment of
Professional Service
Costs.
x. Travel Costs............... Award funds used to All.
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 CDFI
ERP Award, in
accordance with
section 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 CDFI ERP Award
would be deemed
unallowable. As such,
documentation must be
maintained that
justifies the travel
as necessary to the
CDFI ERP Award.
xi. Training and Education Award funds used to All.
Costs. pay the cost of
training and
education provided by
the Applicant for
employees'
development in
accordance with
section 200.473 of
the Uniform
Requirements. Award
funds 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.
xii. Equipment................ Award funds used to All.
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 200.439 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.
xiii. Supplies................ Award funds used to All.
pay for tangible
personal property
with a per unit
acquisition cost of
less than $5,000, in
accordance with
section 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.
------------------------------------------------------------------------
2. ERP-Eligible Geographies. In order to achieve the statutory
objective of directing CDFI ERP activities to Low- or Moderate-Income
communities and to borrowers, including minorities, that have
significant unmet capital or financial services needs, and were
disproportionately impacted by the COVID-19 pandemic, the CDFI Fund has
identified ERP-Eligible Geographies, which are defined as geographies
that meet one of the following two criteria: (a) are census tracts that
(i) demonstrate ``severe impact'' of the COVID-19 pandemic, and (ii)
have a median income at or below 120% of the Area Median Income, and
(iii) are CDFI Investment Areas; or (b) are Native Areas. A census
tract is considered to have experienced ``severe impact'' of the COVID-
19 pandemic if it meets one or more of the following criteria: (a)
demonstrates severe mortality, based on being in the highest tercile of
the number of deaths per 100,000 people, according to reported
cumulative mortality for the period from April 1,
[[Page 37916]]
2020 to March 31, 2021, based on data from the Centers for Disease
Control and Prevention and the Government of Puerto Rico; \6\ or (b)
demonstrates severe change in unemployment, based on (i) for the 50
States, the District of Columbia, and Puerto Rico, being in the highest
tercile of reported change in the average unemployment rate for the
twelve-month period from April 2020 to March 2021, compared to the same
twelve-month period for the previous year (April 2019 to March 2020),
based on data from Bureau of Labor Statistics, Local Area Unemployment
Statistics,\7\ and (ii) for American Samoa, Guam, Northern Mariana
Islands, and the U.S. Virgin Islands, being in the highest tercile of
reported change in average county employment for the twelve-month
period from April 2020 to March 2021, compared to county employment in
January 2020, based on data from Argonne National Laboratory, Decision
and Infrastructure Sciences Division, County Economic Impact Index
(CEII) and Territorial Economic Impact Index (TEII); \8\ or (c)
demonstrates low community resilience, based on being in the highest
tercile of the percentage of individuals or families that have 3 or
more resilience-related risk factors relative to the impact of
disasters such as pandemics, based on data from the U.S. Census Bureau,
Community Resilience Estimates (CRE) Program.\9\ Census tracts that
were not included in the community resilience data from the CRE Program
were deemed low community resilience if they were located within a
Persistent Poverty County.\10\ Native Areas is defined as Alaska Native
Village Statistical Areas, Federal American Indian Reservations, State
American Indian Reservations, Hawaiian Home Lands, Joint Use Areas,
Off-Reservation Trust Lands, Oklahoma Tribal Statistical Areas, State
Designated Tribal Statistical Areas, and Tribal Designated Statistical
Areas (TDSAs). The list of ERP-Eligible Geographies is available on the
CDFI Fund's website, and data on ERP-Eligible Geographies is available
through the CDFI Fund's Community Impact Mapping System (CIMS). All
CDFI ERP eligible activities must serve ERP-Eligible Geographies,
except 10% of an Award amount, which may be deployed outside of ERP-
Eligible Geographies to serve Low- or Moderate-Income persons and
businesses (including non-profit organizations) disproportionately
impacted by the COVID-19 pandemic that are included in CDFI Eligible
Markets.\11\
---------------------------------------------------------------------------
\6\ <a href="https://data.cdc.gov/NCHS/AH-Provisional-COVID-19-Death-Counts-by-Quarter-an/dnhi-s2bf">https://data.cdc.gov/NCHS/AH-Provisional-COVID-19-Death-Counts-by-Quarter-an/dnhi-s2bf</a>; <a href="https://covid19datos.salud.gov.pr/#defunciones">https://covid19datos.salud.gov.pr/#defunciones</a>.
\7\ <a href="https://www.bls.gov/lau/data.htm">https://www.bls.gov/lau/data.htm</a>.
\8\ <a href="https://www.anl.gov/dis/county-economic-impact-index">https://www.anl.gov/dis/county-economic-impact-index</a>;
<a href="https://www.anl.gov/dis/territorial-economic-impact-index">https://www.anl.gov/dis/territorial-economic-impact-index</a>.
\9\ <a href="https://www.census.gov/programs-surveys/community-resilience-estimates.html">https://www.census.gov/programs-surveys/community-resilience-estimates.html</a>.
\10\ <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>.
\11\ 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.
---------------------------------------------------------------------------
III. Eligibility Information
---------------------------------------------------------------------------
\12\ Depository Institution Holding Company or DIHC means a Bank
Holding Company or a Savings and Loan Holding Company.
---------------------------------------------------------------------------
A. Eligible Applicants: For purposes of this NOFA, Table 3 below
sets forth the eligibility criteria to receive a CDFI ERP Award,
including CDFI certification criteria and other requirements that apply
to all CDFI ERP Applicants.
Table 3--Eligibility Requirements for All CDFI ERP Applicants
------------------------------------------------------------------------
------------------------------------------------------------------------
Applicant......................... <bullet> Applicant has been
determined by the CDFI Fund to meet
the CDFI certification requirements
set forth in 12 CFR 1805.201 and as
verified in the CDFI's AMIS account
as of the publication date of this
NOFA in the Federal Register.
<bullet> Applicant has at least 30%
of its average annual Financial
Products closed and Grants made
(both in dollar volume and number
of transactions) have been in ERP-
Eligible Geographies over its five
most recent historic fiscal years.
<bullet> Applicant has audited
financial statements encompassing
its two most recent historic fiscal
years prior to the publication date
of this NOFA.
<bullet> Only the entity that will
carry out the proposed Award
activities may apply for an Award
(other than Depository Institution
Holding Companies \12\). 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).
<bullet> As part of the Application
review process, the CDFI Fund
considers whether Applicants are
Affiliates, as such term is defined
in 12 CFR 1805.104. If an Applicant
and its Affiliate(s) wish to submit
an Application, they must do so
through one of the Affiliated
entities, in one Application; an
Applicant and its Affiliates may
not submit separate Applications.
If Affiliates submit multiple or
separate Applications, the CDFI
Fund may, at its discretion, reject
all such Applications received or
select only one of the submitted
Applications to be deemed eligible,
assuming that Application meets all
other eligibility criteria in
Section III of this NOFA.
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 4.
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 SF-424, Application
for Federal Assistance.
[cir] All Applicants must
register in the <a href="http://Grants.gov">Grants.gov</a>
system to submit an Application
successfully. The CDFI Fund
strongly encourages Applicants
to register as soon as possible.
[[Page 37917]]
[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 federal
government 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
Tables 1 and 6. 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 ERP
Funding Opportunity Number for
the CDFI ERP 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 4:
[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 allowed only
one CDFI ERP 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 or
other contractors 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 6. 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.
<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 by the
deadline specified in Tables 1 and
6.
Unique Entity Identifier (UEI).... <bullet> The transition from DUNS to
UEI is a federal government-wide
initiative. See Section IV of this
NOFA for more information.
<bullet> The CDFI Fund will reject
an Application submitted with the
UEI number of a parent or Affiliate
organization.
<bullet> The UEI number in the
Applicant's AMIS account must match
the UEI number in the Applicant's
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts.
<bullet> The CDFI Fund will reject
an Application if the UEI number in
the Applicant's AMIS account does
not match the UEI number in its
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts.
<bullet> Applicants must enter their
UEI numbers into their AMIS profile
on or before the deadline specified
in Tables 1 and 6.
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 who have active
SAM registration are already
assigned a UEI. Applicants must
also have 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>.
AMIS Account...................... <bullet> Each Applicant must
register as an organization in AMIS
and submit all required applicable
Application Materials through the
AMIS portal.
<bullet> If the Applicant does not
fully register its organization in
AMIS by the deadline set forth in
Table 1, its Application 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 update its AMIS account
may miss important communication
from the CDFI Fund and/or may not
be able to successfully submit an
Application.
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 ERP
Award.
Compliance with Nondiscrimination <bullet> An Applicant may not be
and Equal Opportunity Statutes, eligible to receive a CDFI ERP
Regulations, and Executive Orders. Award if proceedings have been
instituted against it in, by, or
before any court, governmental
agency, or administrative body, and
a final determination made within
the time period beginning three
years prior to the publication of
this NOFA until the execution of
the Assistance Agreement that
indicates the Applicant has
violated any federal civil rights
laws or regulations, including:
Title VI of the Civil Rights Act of
1964, as amended (42 U.S.C. 2000d
et seq.); Section 504 of the
Rehabilitation Act of 1973 (29
U.S.C. 794); and the Age
Discrimination Act of 1975 (42
U.S.C. 6101-6107).
[[Page 37918]]
Depository Institution Holding <bullet> In the case where a CDFI
Company Applicant. Depository Institution Holding
Company Applicant intends to carry
out the activities of its 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 both apply for a CDFI
ERP Award, 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 CDFI ERP
Award will be used to support the
Subsidiary CDFI Insured Depository
Institution for the eligible
activities outlined in the
Application.
Uses of Award..................... <bullet> All Awards made through
this NOFA must be used to support
the Applicant's activities in at
least one of the Eligible Activity
Categories listed in Section II.D.
<bullet> With the exception of
Depository Institution Holding
Company Applicants, CDFI ERP 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.
<bullet> 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.
<bullet> The maximum award amount an
Applicant may request is no more
than three times its average on-
balance sheet Financial Products
closed in its five most recent
historic fiscal years or $15
million, whichever is less.
<bullet> The minimum Award amount an
Applicant may request is $500,000.
Organizations for which three times
the average on-balance sheet
Financial Products closed in in its
five most recent historic fiscal
years is less than $500,000 are
eligible to request a $500,000
Award.
Pending resolution of <bullet> If an Applicant (or
noncompliance. Affiliate of an Applicant) that is
a prior recipient or allocatee
under any CDFI Fund program: (i)
Has demonstrated it has been in
noncompliance with a previous
assistance agreement, award
agreement, allocation agreement,
bond loan agreement, or agreement
to guarantee and (ii) the CDFI Fund
has yet to make a final
determination as to whether the
entity is in noncompliance with or
default of its previous agreement,
the CDFI Fund will consider the
Applicant's Application under this
NOFA pending full resolution, in
the sole determination of the CDFI
Fund, of the noncompliance.
Noncompliance or default status... <bullet> The CDFI Fund will not
consider an Application submitted
by an Applicant that is a prior
CDFI Fund award recipient or
allocatee under any CDFI Fund
Program if, as of the date of the
AMIS Application deadline in this
NOFA, (i) the CDFI Fund has made a
final determination in writing that
such Applicant (or Affiliate of
such Applicant) is in noncompliance
with or default of a previously
executed assistance agreement,
award agreement, allocation
agreement, bond loan agreement, or
agreement to guarantee 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 if the Applicant
(or Affiliate of an 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.
CDFI Certification Status......... <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.
<bullet> In cases where the CDFI
Fund has provided a Certified CDFI
with written notification that it
no longer meets one or more
certification standards and it has
been given an opportunity to cure,
the CDFI Fund will continue to
consider this Applicant to be a
Certified CDFI until it has
received a final determination
letter that its certification has
been terminated.
Regulated Institution............. <bullet> To be eligible for an
Award, each Regulated Institution
Applicant must have a CAMELS/CAMEL
rating (rating for banks and credit
unions, respectively) or equivalent
type of rating by its regulator
(collectively referred to as
``CAMELS/CAMEL rating'') of at
least ``4''.
<bullet> CDFI ERP Applicants with
CAMELS/CAMEL ratings of ``5'' will
not be eligible for a CDFI ERP
Award.
<bullet> The CDFI Fund will not
approve a CDFI ERP Award for an
Applicant that has a Community
Reinvestment Act (CRA) assessment
rating of below ``Satisfactory'' on
its most recent examination.
[[Page 37919]]
<bullet> Applicants and/or their
Appropriate Federal Banking Agency
may be contacted by the CDFI Fund
to provide additional information
related to federal bank regulatory
or CRA information. The CDFI Fund
will consider this information and
may choose not to approve a CDFI
ERP Award for an Applicant if the
information indicates that the
Applicant may be unable to
responsibly manage, re-invest, and/
or report on a CDFI ERP Award
during the Period of Performance.
<bullet> The CDFI Fund will also
evaluate material concerns
identified by the Appropriate
Federal Banking Agency in
determining the eligibility of
Regulated Institution Applicants.
Unregulated Institutions.......... <bullet> Application Assessment Tool
(AAT) Total Financial Composite
Score must be between 1 and 4.
Applicants with an AAT Total
Financial Composite Score of ``5''
will not be eligible for a CDFI ERP
Award.
<bullet> AAT Total Compliance
Composite Score of 1, 2, or 3 are
eligible for a CDFI ERP Award.
Applicants that receive a 4 or 5
will receive a confirmatory review
by CDFI Fund staff. Applicants
deemed a high compliance risk at
this point will not be eligible for
a CDFI ERP Award.
------------------------------------------------------------------------
Any Applicant that does not meet the criteria in Table 3 is
ineligible to apply for a CDFI ERP Award under this NOFA.
IV. Application and Submission Information
A. Address to Request an Application Package: Application Materials
can be found on <a href="http://Grants.gov">Grants.gov</a> and on the CDFI Fund's website at
<a href="http://www.cdfifund.gov">www.cdfifund.gov</a>. Applicants may request a paper version of any
Application material by contacting the CDFI Fund at <a href="/cdn-cgi/l/email-protection#e1849391a182858788cf9593848092cf868e97"><span class="__cf_email__" data-cfemail="d6b3a4a696b5b2b0bff8a2a4b3b7a5f8b1b9a0">[email protected]</span></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 (Table 4) lists the
Required Application Documents for this CDFI ERP funding round. In
addition, the CDFI Fund will post to its website, at <a href="http://www.cdfifund.gov/erp">www.cdfifund.gov/erp</a>, instructions for accessing and submitting an Application. Detailed
Application content requirements are found in the Application and
related guidance documents. 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 4--Required Application Documents
----------------------------------------------------------------------------------------------------------------
Application documents Applicant type Submission format
----------------------------------------------------------------------------------------------------------------
OMB Standard Form-424 Mandatory (Application for All Applicants................. Fillable PDF in
Federal Assistance) (SF-424). <a href="http://Grants.gov">Grants.gov</a>.
CDFI ERP Application............................... All Applicants................. AMIS.
----------------------------------------------------------------------------------------------------------------
ATTACHMENTS TO THE APPLICATION:
----------------------------------------------------------------------------------------------------------------
Audited financial statements for the Applicant's Loan funds, venture capital PDF in AMIS.
two most recent historic fiscal years prior to the funds, and other Non-Regulated
publication date of this NOFA.. Institutions.
Management Letter for the Applicant's Most Recent Loan funds, venture capital PDF in AMIS.
Historic Fiscal Year. funds, and other Non-Regulated
The Management Letter is prepared by the Institutions.
Applicant's auditor and is a communication on
internal control over financial reporting,
compliance, and other 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 an audit. The Management Letter
may include suggestions for improving 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 in Lieu of Management Letter for All Applicants for which AMIS.
Applicant's Most Recent Historic Fiscal Year audited financial statements
issued by the Board Treasurer or other Board are available but a Management
member using the template provided in AMIS Letter is not available: loan
(required only if Management Letters are not funds, venture capital funds,
available for audited financial statements). and other Non-Regulated
Institutions.
Unaudited financial statements for Applicant's Loan funds, venture capital AMIS.
current fiscal year as of March 31, 2022. funds, and other Non-Regulated
Institutions.
Year-end Call reports for Applicant's three most Regulated Institutions......... AMIS.
recent historic fiscal years prior to the
publication date of this NOFA.
[[Page 37920]]
A current organizational chart outlining the All Applicants................. AMIS.
Applicant's structure and staffing, as well as an
updated, prospective organizational chart, if the
Applicant plans to add staff resources to
accomplish the activities under a CDFI ERP Award.
----------------------------------------------------------------------------------------------------------------
C. Application Submission: The CDFI Fund has a two-step process
that requires the submission of Required Application Documents (listed
in Table 4) on separate deadlines and on separate systems. 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 and all other Application components is listed in Tables 1
and 6.
All Applicants must register in the <a href="http://Grants.gov">Grants.gov</a> system to
successfully submit the SF-424. The CDFI Fund strongly encourages
Applicants to start the <a href="http://Grants.gov">Grants.gov</a> registration process as soon 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>). The <a href="http://Grants.gov">Grants.gov</a> registration process requires
Applicants to have UEI and EIN numbers. If an Applicant has not
previously registered with <a href="http://Grants.gov">Grants.gov</a>, it must first successfully
register in <a href="http://SAM.gov">SAM.gov</a>, as described in Section IV.E below.
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. An Authorized
Representative is an employee or officer and is authorized to sign
legal documents on behalf of the Applicant. Applicants must ensure that
only a qualified Authorized Representative signs the Application;
Consultants or other contractors 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.
D. Unique Entity Identifier (UEI): The UEI has replaced the Dun and
Bradstreet Data Universal Numbering System (DUNS) number effective
April 4, 2022. The UEI, generated in the System for Award Management
(<a href="http://SAM.gov">SAM.gov</a>), has become the official identifier for doing business with
the government. This transition allows the federal government to
streamline the entity identification and validation process, making it
easier and less burdensome for entities to do business with the federal
government. If an entity is registered in <a href="http://SAM.gov">SAM.gov</a> today, its UEI has
already been assigned and is viewable in <a href="http://SAM.gov">SAM.gov</a>, including inactive
registrations. New registrants will be assigned a UEI as part of their
SAM registration.
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 SF-424
through that platform. When accessing <a href="http://SAM.gov">SAM.gov</a>, users will be asked to
create a <a href="http://login.gov">login.gov</a> user account (if they do not already have one).
Going forward, users will use their <a href="http://login.gov">login.gov</a> username and password
every time when logging into <a href="http://SAM.gov">SAM.gov</a>. The SAM registration process can
take four weeks or longer to complete, so Applicants are strongly
encouraged to begin the registration process upon publication of this
NOFA in order to avoid potential Application submission issues. An
original, signed notarized letter identifying the authorized entity
administrator for the entity associated with the UEI is required by SAM
and must be mailed to the Federal Service Desk. This requirement is
applicable to new entities registering in SAM, as well as existing
entities with registrations being updated or renewed in SAM. Existing
entities with registered entity administrators do not need to submit an
annual notarized letter. 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 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 UEI 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 5_Grants.gov Registration Timeline Summary
____________________________________
Estimated minimum
Step Agency time to complete
____________________________________
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>). This
step will include
obtaining a UEI..
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 and/or fails to properly
register in <a href="http://Grants.gov">Grants.gov</a>.
** This estimate assumes an Applicant is already registered in <a href="http://SAM.gov">SAM.gov</a>.
[[Page 37921]]
F. Submission Dates and Times:
1. Submission Deadlines: The following table provides the critical
deadlines for the CDFI ERP Funding Round.
Table 6--Critical Deadlines for CDFI ERP Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to submit SF-424 July 26, 2022.............. 11:59 p.m. ET.............. Electronically via
Mandatory (Application for <a href="http://Grants.gov">Grants.gov</a>.
Federal Assistance).
Last day to enter EIN and UEI July 26, 2022.............. 11:59 p.m. ET.............. AMIS.
numbers in AMIS.
Last day to contact CDFI Fund August 19, 2022............ 5:00 p.m. ET............... Service Request via
with questions about the CDFI AMIS or
ERP. <a href="/cdn-cgi/l/email-protection#bdd8cfcdfdded9dbd493c9cfd8dcce93dad2cb"><span class="__cf_email__" data-cfemail="53362123133037353a7d27213632207d343c25">[email protected]</span></a>
or 202-653-0421.
Last day to contact CDFI Fund August 19, 2022............ 5:00 p.m. ET............... Compliance and
with questions about Compliance Reporting AMIS
or CDFI Certification. Service Request or
202-653-0423.
Last day to contact AMIS-IT Help August 23, 2022............ 5:00 p.m. ET............... Service Request via
Desk (regarding AMIS technical AMIS or
problems only). <a href="/cdn-cgi/l/email-protection#6d2c20243e2d0e090b0443191f080c1e430a021b"><span class="__cf_email__" data-cfemail="8acbc7c3d9cae9eeece3a4fef8efebf9a4ede5fc">[email protected]</span></a> or 202-653-0422.
Last day to submit CDFI ERP August 23, 2022............ 11:59 p.m. ET.............. AMIS.
Application.
----------------------------------------------------------------------------------------------------------------
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 ERP Funding
Opportunity Number by the applicable deadline. All other Required
Application Documents (listed in Table 4) must be submitted through the
AMIS website by the applicable deadline. Applicants must submit the SF-
424 in <a href="http://Grants.gov">Grants.gov</a> prior to submitting the Application in AMIS. If a
valid SF-424 is not submitted through <a href="http://Grants.gov">Grants.gov</a> by the corresponding
deadline, the Applicant will not be able to submit the additional
Application components 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 4. 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
sufficient time to review and complete the Application components and
documents included in Table 4, 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 designated as
Authorized Representatives. Only an Authorized Representative or an
Application Point of Contact may submit an Application. Applicants may
only submit one CDFI ERP Application. Upon submission, the Application
will be locked and cannot be resubmitted, edited, or modified in any
way.
3. Multiple Application Submissions: Applicants are only permitted
to submit one complete Application. However, the CDFI Fund does not
administer <a href="http://Grants.gov">Grants.gov</a>, which does allow for multiple submissions of the
SF-424. If an Applicant submits multiple SF-424 Applications in
<a href="http://Grants.gov">Grants.gov</a>, the CDFI Fund will only review the SF-424 Application
submitted in <a href="http://Grants.gov">Grants.gov</a> that is attached to the AMIS Application.
Applicants can only submit one Application through AMIS.
4. Late Submission: 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. 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. In either case, the CDFI Fund will not
review any material submitted, and the Application will be deemed
ineligible.
An exception will be made if an SF-424 or Application submission
delay is as a direct result of a federal government administrative
error or a federal government technological error. This exception
includes any errors associated with <a href="http://Grants.gov">Grants.gov</a>, <a href="http://SAM.gov">SAM.gov</a>, AMIS or any
other applicable government system.
(a) SF-424 Late Submission: In cases where a federal government
administrative or federal government technological error directly
resulted in the late submission of the SF-424, 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 ERP with a subject line of
``Late SF-424 Submission Request.''
(b) AMIS Application Late Submission: In cases where a federal
government administrative or federal government technological error
directly resulted in a late submission of the Application in AMIS, 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
[[Page 37922]]
to the CDFI ERP with a subject line of ``Late AMIS Application
Submission Request.''
G. Funding Restrictions: CDFI ERP Awards are limited by the
following:
(a) A Recipient shall use the CDFI ERP Award only for the eligible
activities in the ERP-Eligible Geographies as described in Section II
of this NOFA and its Assistance Agreement. Financial Products and
expended Award funds used to satisfy the CDFI ERP PG&Ms for reporting
may not also be used to satisfy PG&Ms for CDFI Program and NACA Program
awards, the Small Dollar Loan Program or the CDFI Rapid Response
Program.
(b) With the exception of Depository Institution Holding Company
Applicants, CDFI ERP 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) CDFI ERP Award payments shall only be made to the Recipient.
(d) The CDFI Fund, in its sole discretion, may issue CDFI ERP
Awards in amounts, or under terms and conditions, which are different
from those requested by an Applicant.
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 this NOFA, the
related Application guidance materials, 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 the Application may be
rejected. The CDFI Fund will review the CDFI ERP Applications in
accordance with the process below. All reviewers will be subject to the
CDFI Fund's conflict of interest review and process. The CDFI Fund's
Application conflict of interest policy is located on the CDFI Fund's
website.
1. CDFI ERP Application Award Determination Process: The CDFI Fund
will evaluate each Application using a four-step review process
described in the sections below. Applicants that meet the minimum
criteria will advance to the next step in the review process.
(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(a). 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
3, each Regulated Institution CDFI ERP Applicant must have a CAMELS/
CAMEL rating of at least ``4'', a CRA Rating of at least
``Satisfactory'' (if applicable), and/or no significant materials
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 step, 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), three (3), or four (4) to advance to Step 3. Applicants
that receive a Total Financial Composite Score of five (5) will not
advance to Step 3.
(ii) Step 2(b). 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 Applicant's PG&Ms on all previous CDFI Fund awards.
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 a Total Compliance Composite Score of one (1),
two (2), or three (3), will advance to Step 3. If an Applicant receives
an initial Total Compliance Composite Score of four (4) or five (5),
the score will be confirmed by CDFI Fund staff. If the Applicant is
confirmed as a high compliance risk (score of a 4 or 5) the Applicant
will not advance to Step 3.
(c) Step 3: Application Evaluation and Initial Funding
Recommendation: Applicants that proceed to Step 3 will be evaluated
based on their submitted Application. The Step 3 evaluation will be
conducted by one external non-federal reviewer and one internal CDFI
Fund or other federal government reviewer. The external non-federal
reviewers will be selected based on criteria that include: a
professional background in affordable housing finance or in community
and economic development finance. These reviewers must complete the
CDFI Fund's conflict of interest process and be approved by the CDFI
Fund.
(i) External Reviewer: The external reviewer's evaluation of the
Application has two components. First, the external reviewer will
evaluate and score the Application based on the criteria outlined in
Table 7. Each Application will receive a Step 3 score of up to 100
points based on this evaluation. Second, the external reviewer will
also provide an Award recommendation as to whether the Application
should be forwarded to Step 4 for an Award determination. This
recommendation is independent from the Step 3 evaluation score and is
based on whether an Application achieves minimal standards for clarity
and consistency of business strategy; clear and eligible use of
funding; and organizational capacity to deploy at least a minimum Award
amount during the Period of Performance.
Table 7--Step 3: External Reviewer Evaluation Criteria
----------------------------------------------------------------------------------------------------------------
Application Section Points Criteria
----------------------------------------------------------------------------------------------------------------
Applicant Information.................... 0 <bullet> This section is not scored.
Business Strategy........................ 40 <bullet> Application demonstrates a strong
understanding of the economic impact of the COVID-19
pandemic on the geographies and populations the
Applicant proposes to serve.
<bullet> The planned use of a CDFI ERP Award is
clearly described in the Application and the
Applicant's business strategy directs Financial
Products, Financial Services, Development Services
and/or Grants to Low-to-Moderate Income populations
that have been disproportionately impacted by the
COVID-19 pandemic.
[[Page 37923]]
<bullet> Applicant describes a clear link between the
identified economic impacts of the COVID-19 pandemic
on the geographies and populations it proposes to
serve and the achievement of the identified
outcomes.
<bullet> Application demonstrates that the Applicant
has engaged with and obtained input on its business
strategy from geographies and populations that it
proposes to serve with a CDFI ERP Award and that the
Applicant proposes culturally and linguistically
relevant marketing and/or outreach efforts that will
support the deployment of CDFI ERP Award consistent
with its business strategy.
<bullet> A CDFI ERP Award amount requested for
operational support to help build organizational
capacity is clearly presented in the Application and
aligns with the Applicant's business strategy.
Community Impact--Track Record........... 15 <bullet> Applicant's track record demonstrates that
it has a history of reaching underserved
communities, as measured by the level of activities
for various CDFI ERP policy priorities identified in
the Application.
Community Impact--Policy Priorities, 30 <bullet> Applicant commits to devote a portion of the
Projected Performance, and Outcomes. Award requested (up to 100%) towards its selected
CDFI ERP policy priority as indicated in the
Application, or commits to increase its lending to
ERP-Eligible Geographies by a multiplier of its
Award amount.
<bullet> Applicant's projected level of proposed
activities is well-supported in the Application.
<bullet> Applicant provides a feasible plan for data
collection, activity tracking, and reporting in the
Application.
Organizational Capacity.................. 15 <bullet> Applicant's current staff and proposed
staffing plan support its ability to execute the
business strategy proposed in its Application.
<bullet> Applicant's track record shows a strong
ability to use available resources to assist
communities and provide Financial Products,
Financial Services, Development Services and/or
Grants in ERP-Eligible Geographies proposed in its
business strategy.
----------------------------------------------------------------------------------------------------------------
(ii) Federal Reviewer: The federal reviewer has three tasks. First,
the federal reviewer will conduct quality control for the external
reviewer's evaluation and scoring of the Application to ensure the
external reviewer followed the review evaluation criteria outlined in
Table 7. Second, the federal reviewer will also provide a
recommendation as to whether an Application should be forwarded to Step
4 for an Award determination. This recommendation is independent from
the Step 3 evaluation and is based on whether the Application achieves
minimal standards for clarity and consistency in its business strategy,
clear and eligible use of funding, and adequate organizational capacity
to deploy at least a minimum Award amount during the Period of
Performance. Finally, the federal reviewer will recommend an initial
Award amount. The initial Award amount recommendation will generally be
based on the numeric score assigned by the external reviewer. However,
the federal reviewer may elect to make an initial Award amount
recommendation below the amount indicated by the Step 3 score if a
determination is made that the Step 3 score did not fully capture
important due diligence concerns related to the Applicant's financial
health or its ability to deploy the Award effectively. For example, the
federal reviewer may reduce the initial Award amount recommendation for
those Applicants that have a CAMEL/CAMELS, or equivalent, rating of
four (4) or Total Financial Composite Score of four (4) during the Step
3 evaluation.
(d) Advancing to Step 4: Applications that are recommended to
advance to Step 4 by both the external and federal reviewers will
advance to Step 4. If either the external or the federal reviewer
recommends that an Applicant should not advance to Step 4 and therefore
not receive an Award, the Application will be forwarded to a reviewing
official for a final determination. The reviewing official may agree
with the recommendation to not fund the Application, or overturn the
recommendation and forward the Application to Step 4 for a final award
amount determination.
(e) Step 4. Final Award Amount Determination: Each Application that
advances to Step 4 will be reviewed by a selecting official for quality
control to ensure that the evaluation conducted in Step 3 was in
accordance with the evaluation criteria. The selecting official will
determine a preliminary Award amount for each Application by approving
the Award amount recommended in Step 3. In cases where the Step 3
initial Award amount recommendation differs from the amount indicated
by the Step 3 score, the selecting official may accept the Step 3
initial Award amount recommendation, reject it in favor of the amount
indicated in the Step 3 score, or select another Award amount that is
within 20% of the Step 3 initial Award amount recommendation. The
selecting official may only adjust the Award amount from the Step 3
recommendation if there are concerns about the Applicant's ability to
deploy the full, recommended Award amount within the Period of
Performance. All approved Applicants will be awarded at least the
minimum Award amount noted in Section II.A, and no Applicant will
receive an Award amount greater than the maximum Award amount outlined
therein. Once a preliminary final Award determination has been made for
every Application in the Award pool, the CDFI ERP Program Manager (or
designee) will compare the total amount awarded in the preliminary
final Award pool to the amount of available funding. If the total
amount awarded in the preliminary Award pool exceeds the amount
available for Awards under this NOFA, the CDFI Fund will provide a
proportional reduction to reduce all preliminary Award amounts such
that only the amount available is awarded. This proportional reduction
will not apply to those Applicants that received a preliminary $500,000
minimum Award amount during Step 4 and will not result in reducing an
Applicant's
[[Page 37924]]
Award to an amount below the $500,000 minimum.
2. 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, 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.
3. 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 ERP Award announcements in the first quarter of CY 2023; 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.
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 a CDFI ERP 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 payment. The Assistance Agreement will set forth the
Award's terms and conditions, including but not limited to the: (i)
Award Amount; (ii) Award type; (iii) the approved uses of Award; (v)
PG&Ms; and (vi) reporting requirements. CDFI ERP Assistance Agreements
will have a five-year Period of Performance. As a condition of their
Award, CDFI ERP Recipients must meet certain PG&Ms, including, but not
limited to: (i) All CDFI ERP Recipients must expend 60% of the
Recipient's Award amount by the end of year three of the Period of
Performance, 80% of the Award amount by the end of year four, and 100%
of the Award amount by the Period of Performance end date; (ii)
Recipients must deploy 90% of funds for program activities in the ERP-
Eligible Geographies; and (iii) any Award funds deployed outside of
ERP-Eligible Geographies must serve Low- or Moderate-Income persons or
businesses disproportionately impacted by the COVID-19 pandemic that
are included in CDFI Eligible Markets. Additional PG&Ms for each
Recipient will be determined based on its proposed commitments relative
to the CDFI ERP policy priorities in its Application. Final PG&Ms may
differ and will be set forth in the CDFI ERP Assistance Agreement.
1. Certificate of Good Standing: All CDFI ERP Recipients that are
not Regulated Institutions will be required to provide the CDFI Fund
with a certificate of good standing from the secretary of state for the
Recipient's jurisdiction of formation prior to closing. This
certificate can often be acquired online on the secretary of state's
website for the Recipient's jurisdiction of formation and must
generally be dated within 180 days prior to the date the Recipient
executes the Assistance Agreement.
2. Closing: Pursuant to the Assistance Agreement, there will be an
initial closing at which point the Assistance Agreement and related
documents will be properly executed and delivered, and payment of an
initial CDFI ERP Award amount may be made. The first payment is the
estimated amount of the Award that the Recipient states in its
Application that it will use for eligible CDFI ERP activities in the
first 12 months after the Award announcement. The CDFI Fund reserves
the right to increase or decrease the first payment amount to ensure
that any subsequent payment is at least $75,000.
The CDFI Fund will minimize the time between the Recipient
incurring costs for eligible activities and making Award payment(s) in
accordance with the Uniform Requirements. Advanced payments for
eligible activities will occur no more than one year in advance of the
Recipient incurring costs for the eligible activities. Following the
initial closing, there may be subsequent closings involving additional
Award payments. There will be a maximum of four subsequent Award
payments. Any documentation in addition to the Assistance Agreement
that is connected with such subsequent closings and payments shall be
properly executed and timely delivered by the Recipient to the CDFI
Fund.
3. Requirements Prior to Entering into an Assistance Agreement: If,
prior to entering into an Assistance Agreement, information (including
administrative errors) comes to the CDFI Fund's attention that
adversely affects the Recipient's eligibility for an Award; adversely
affects the Recipient's certification as a CDFI; adversely affects the
CDFI Fund's evaluation of the Application; indicates that the Recipient
is not in compliance with any requirement listed in the Uniform
Requirements; indicates that the Recipient is not in compliance with a
term or condition of a prior CDFI Fund award; indicates the Recipient
has failed to execute and return a prior round Assistance Agreement to
the CDFI Fund within the CDFI Fund's deadlines; or indicates fraud or
mismanagement on the Recipient's part, the CDFI Fund may, in its
discretion and without advance notice to the Recipient, terminate the
Award or take such other actions as it deems appropriate. The CDFI Fund
reserves the right, in its sole discretion, to rescind the Award if the
Recipient fails to return the Assistance Agreement, signed by the
Authorized Representative of the Recipient, and/or provide the CDFI
Fund with any
[[Page 37925]]
requested documentation, within the CDFI Fund's deadlines. The CDFI
Fund reserves the right to rescind the Award if Recipient does not
maintain an active <a href="http://SAM.gov">SAM.gov</a> account or 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.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Assistance Agreement and the
Award made under this NOFA pending the criteria described in the
following table:
Table 8--Requirements Prior To Executing an Assistance Agreement
------------------------------------------------------------------------
Requirement Criteria
------------------------------------------------------------------------
Failure to meet reporting <bullet> If a Recipient received a
requirements. prior award under any CDFI Fund
program and is not in compliance
with the reporting requirements of
the previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee, as of the date of the
notice of award, the CDFI Fund may
delay entering into an Assistance
Agreement and/or disbursing an
award until such reporting
requirements are met. If the
Recipient is unable to meet the
requirement(s) within the timeframe
specified by the CDFI Fund, the
CDFI Fund may terminate and rescind
the Assistance Agreement and the
award made under this NOFA.
<bullet> The automated systems the
CDFI Fund uses only acknowledge a
report's receipt and are not a
determination of meeting reporting
requirements.
Failure to maintain CDFI <bullet> A Recipient must be a
Certification. Certified CDFI as is defined in the
CDFI ERP Application and this NOFA,
prior to entering into an
Assistance Agreement.
<bullet> If, at any time prior to
entering into an Assistance
Agreement under this NOFA, an
Applicant that is a Certified CDFI
has submitted reports (or failed to
submit an annual certification
report as instructed by the CDFI
Fund) to the CDFI Fund that
demonstrate noncompliance with the
requirements for certification, but
the CDFI Fund has yet to make a
final determination regarding
whether or not the entity is
Certified, the CDFI Fund reserves
the right, in its sole discretion,
to delay entering into an
Assistance Agreement and/or to
delay making a payment of CDFI ERP
Award, pending full resolution, in
the sole determination of the CDFI
Fund, of the noncompliance.
<bullet> If the Applicant is unable
to meet this requirement, in the
sole determination of the CDFI
Fund, the CDFI Fund reserves the
right, in its sole discretion, to
terminate and rescind the notice of
award and the CDFI ERP Award made
under this NOFA.
Pending resolution of <bullet> The CDFI Fund will delay
noncompliance. entering into an Assistance
Agreement with a Recipient that has
pending noncompliance issues with
any of its previously executed CDFI
award agreement(s), assistance
agreement(s), allocation
agreement(s), bond loan
agreement(s), or agreement(s) to
guarantee if the CDFI Fund has not
yet made a final compliance
determination.
<bullet> If the Recipient is unable
to satisfactorily resolve the
compliance issues, the CDFI Fund
may terminate and rescind the
Assistance Agreement and the award
made under this NOFA.
Noncompliance or default status... <bullet> If, at any time prior to
entering into an Assistance
Agreement, the CDFI Fund determines
that a Recipient (or an Affiliate
of the Applicant) that is a prior
CDFI Fund Recipient or allocatee,
under any CDFI Fund Program is
noncompliant or found in default
with any previously executed award
agreement(s), assistance
agreement(s), allocation
agreement(s), bond loan
agreement(s), or agreement(s) to
guarantee , and the CDFI Fund has
provided written notification that
the Recipient is ineligible to
apply for or receive any future
awards or allocations for a time
period specified by the CDFI Fund
in writing, the CDFI Fund may delay
entering into an Assistance
Agreement until the Recipient has
cured the noncompliance by taking
actions the CDFI Fund has specified
within such specified timeframe. If
the Recipient is unable to cure the
noncompliance within the specified
timeframe, the CDFI Fund may
terminate and rescind the
Assistance Agreement and the Award
made under this NOFA.
Compliance with federal civil <bullet> If, prior to entering into
rights requirements. an Assistance Agreement under this
NOFA, the Recipient receives a
final determination, made within
the last three years, in any
proceeding instituted against the
Recipient in, by, or before any
court, governmental, or
administrative body or agency,
declaring that the Recipient has
violated any federal civil rights
laws or regulations, including:
Title VI of the Civil Rights Act of
1964, as amended (42 U.S.C. 2000d
et seq.); Section 504 of the
Rehabilitation Act of 1973 (29
U.S.C. 794); and the Age
Discrimination Act of 1975, (42
U.S.C. 6101-6107), the CDFI Fund
will terminate and rescind the
Assistance Agreement and the Award
made under this NOFA.
Do Not Pay........................ <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.
<bullet> The CDFI Fund reserves the
right, in its sole discretion, to
rescind an award if the Recipient
(or Affiliate of a Recipient) is
determined to be ineligible based
on data in the Do Not Pay database.
Safety and soundness.............. <bullet> If it is determined the
Recipient is, or will be, incapable
of meeting its Award obligations,
the CDFI Fund will deem the
Recipient to be ineligible, or
require it to improve its safety
and soundness prior to entering
into an Assistance Agreement.
------------------------------------------------------------------------
C. Reporting:
1. Reporting Requirements: On an annual basis during the Period of
Performance, the CDFI Fund may collect information from each Recipient
including, but not limited to, an Annual Report with the following
components (Annual Reporting Requirements):
[[Page 37926]]
Table 9--Annual Reporting Requirements \13\
------------------------------------------------------------------------
------------------------------------------------------------------------
Financial Statement Audit Report A Non-profit Recipient (including
(Non-profit Recipient including Insured Credit Unions and State-
Insured Credit Unions and State- Insured Credit Unions) must submit
Insured Credit Unions). a Financial Statement Audit (FSA)
Report in AMIS, along with the
Recipient's statement of financial
condition audited or reviewed by an
independent certified public
accountant, if any are prepared.
Under no circumstances should this
be construed as the CDFI Fund
requiring the Recipient to conduct
or arrange for additional audits
not otherwise required under
Uniform Requirements or otherwise
prepared at the request of the
Recipient or parties other than the
CDFI Fund.
Financial Statement Audit (FSA) For-profit Recipients must submit a
Report (For-Profit Recipient). FSA Report in AMIS, along with the
Recipient's statement of financial
condition audited or reviewed by an
independent certified public
accountant.
Financial Statement Audit Report If the Recipient is a Depository
(Depository Institution Holding Institution Holding Company or an
Company and Insured Depository Insured Depository Institution, it
Institution). must submit an FSA Report in AMIS.
Single Audit Report (Non-Profit A non-profit Recipient must complete
Recipients, if applicable). an annual Single Audit pursuant to
the Uniform Requirements (see 2 CFR
Subpart F-Audit Requirements) if it
expends $750,000 or more in federal
awards in its fiscal year, or such
other dollar threshold established
by OMB pursuant to 2 CFR 200.501.
If a Single Audit is required, it
must be submitted electronically to
the Federal Audit Clearinghouse
(FAC) (see 2 CFR Subpart F-Audit
Requirements in the Uniform
Requirements) and optionally
through AMIS.
Transaction Level Report (TLR).... The Recipient must submit a TLR to
the CDFI Fund through AMIS.
If the Recipient is a Depository
Institution Holding Company that
deploys all or a portion of its
CDFI ERP Award through its
Subsidiary CDFI Insured Depository
Institution, that Subsidiary CDFI
Insured Depository Institution must
also submit a TLR. Furthermore, if
the Depository Institution Holding
Company itself deploys any portion
of the CDFI ERP Award, the
Depository Institution Holding
Company must submit a TLR.
Uses of Award Report.............. The Recipient must submit the Uses
of Award Report to the CDFI Fund in
AMIS.
If the Recipient is a Depository
Institution Holding Company that
deploys all or a portion of its
CDFI ERP Award through its
Subsidiary CDFI Insured Depository
Institution, that Subsidiary CDFI
Insured Depository Institution must
also submit a Uses of Award Report.
Furthermore, if the Depository
Institution Holding Company itself
deploys any portion of the CDFI ERP
Award, the Depository Institution
Holding Company must submit a Uses
of Award Report.
Performance Progress Report....... The Recipient must submit the
Performance Progress Report through
AMIS.
If the Recipient is a Depository
Institution Holding Company that
deploys all or a portion of its
CDFI ERP Award through its
Subsidiary CDFI Insured Depository
Institution, that Subsidiary CDFI
Insured Depository Institution must
also submit a Performance Progress
Report. Furthermore, if the
Depository Institution Holding
Company itself deploys any portion
of the CDFI ERP Award, the
Depository Institution Holding
Company must submit a Performance
Progress Report.
------------------------------------------------------------------------
The CDFI Fund may also collect data that will enable the Secretary
of the Treasury to conduct a study of the impact of the CDFI ERP.
Reporting requirements will be outlined in the final CDFI ERP
Assistance Agreement and may include reporting beneficiary demographic
data pertaining to borrowers and/or beneficiaries. The CDFI Fund
intends to require Recipients to collect and report data on the race
and ethnicity of borrowers and/or beneficiaries of the program. Final
requirements will be outlined in the Assistance Agreement and required
reports in Table 9, as applicable. Section 523(d) of the Authorizing
Statute allows a CDFI that receives a CDFI ERP Award to collect such
data, notwithstanding any limitations under the Equal Credit
Opportunity Act (15 U.S.C. 1691 et seq.) and without any adverse action
related to that collection by the Consumer Financial Protection Bureau
or any other federal agency. Recipients may use a portion of their
Award, under the seven operational support eligible activity categories
outlined in Section II.D of this NOFA, to fund data collection and
reporting activities. Reporting requirements may be added or modified
at any time at the discretion of the CDFI Fund.
---------------------------------------------------------------------------
\13\ Personally Identifiable Information (PII) is information,
which if lost, compromised, or disclosed without authorization,
could result in substantial harm, embarrassment, inconvenience, or
unfairness to an individual. Although Applicants are required to
enter addresses of individual borrowers in AMIS, Applicants should
not include the following PII for the individuals who received the
Financial Products or Financial Services in AMIS or in the
supporting documentation (i.e., name of the individual, Social
Security Number, driver's license or state identification number,
passport number, Alien Registration Number, etc.). This information
should be redacted from all supporting documentation.
---------------------------------------------------------------------------
Each Recipient is responsible for the timely and complete
submission of the Annual Reporting Requirements. The CDFI Fund reserves
the right to contact the Recipient and additional entities or
signatories to the Assistance Agreement to request additional
information and/or documentation. The CDFI Fund will use such
information to monitor each Recipient's compliance with the
requirements of the Assistance Agreement and to assess the impact of
the CDFI ERP. The CDFI Fund reserves the right, in its sole discretion,
to modify these reporting requirements, including increasing the scope
and frequency of reporting, if it determines it to be appropriate and
necessary; however, such reporting requirements will be modified only
after notice to Recipients.
2. Financial Management and Accounting: The CDFI Fund will require
Recipients to maintain financial management and accounting systems that
comply with federal statutes, regulations, and the terms and conditions
of the federal award. These systems must be sufficient to permit the
preparation of reports required by the CDFI Fund to ensure compliance
with the terms and conditions of the CDFI ERP, including the tracing of
funds to a level of expenditures adequate to establish that such funds
have been used in accordance with federal statutes, regulations, and
the Assistance Agreement.
The cost principles used by Recipients must be consistent with
federal cost principles and support the accumulation of costs as
required by the principles, and must provide for adequate documentation
to support costs charged to the CDFI ERP Award. In addition, the CDFI
Fund will require Recipients to maintain effective internal controls;
comply with applicable statutes, regulations, and the Assistance
Agreement; evaluate and monitor
[[Page 37927]]
compliance; take appropriate action when not in compliance; and
safeguard personally identifiable information.
VII. Agency Contacts
A. Contact Information: The CDFI Fund will respond to questions
concerning this NOFA and the Application between the hours of 9:00 a.m.
and 5:00 p.m. Eastern Time, starting on the date that the NOFA is
published through the dates listed in Table 1 and Table 6. The CDFI
Fund strongly recommends Applicants submit questions to the CDFI Fund
via an AMIS Service Request to the CDFI ERP, Office of Certification
Policy and Evaluation, Office of Compliance Monitoring and Evaluation,
or IT Help Desk. The CDFI Fund will post on its website information to
clarify the NOFA and Application. Other information regarding the CDFI
Fund and its programs may be obtained from the CDFI Fund's website at
<a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>. Table 10 lists CDFI Fund contact information:
Table 10--Contact Information
----------------------------------------------------------------------------------------------------------------
Telephone No.
Type of question Preferred method (not toll free) Email addresses
----------------------------------------------------------------------------------------------------------------
CDFI ERP Questions................. Service Request via 202-653-0421 <a href="/cdn-cgi/l/email-protection#3d584f4d7d5e595b5413494f585c4e135a524b"><span class="__cf_email__" data-cfemail="64011614240700020d4a10160105174a030b12">[email protected]</span></a>.
AMIS.
CDFI Certification................. Service Request via 202-653-0423 <a href="/cdn-cgi/l/email-protection#97f4f4faf2d7f4f3f1feb9e3e5f2f6e4b9f0f8e1"><span class="__cf_email__" data-cfemail="6407070901240700020d4a10160105174a030b12">[email protected]</span></a>.
AMIS.
Compliance Monitoring and Service Request via 202-653-0423 <a href="/cdn-cgi/l/email-protection#f99a9a949cb99a9d9f90d78d8b9c988ad79e968f"><span class="__cf_email__" data-cfemail="5033333d3510333436397e24223531237e373f26">[email protected]</span></a>.
Evaluation. AMIS.
AMIS--IT Help Desk................. Service Request via 202-653-0422 <a href="/cdn-cgi/l/email-protection#5415191d07143730323d7a20263135277a333b22"><span class="__cf_email__" data-cfemail="57161a1e04173433313e79232532362479303821">[email protected]</span></a>.
AMIS.
----------------------------------------------------------------------------------------------------------------
B. Information Technology Support: For IT assistance, the preferred
method of contact is to submit a Service Request within AMIS. For the
Service Request, select ``Technical Issues'' from the Program dropdown
menu of the Service Request. People who have visual or mobility
impairments that prevent them from using the CDFI Fund's website should
call (202) 653-0422 for assistance (this is not a toll-free number).
C. Communication with the CDFI Fund: The CDFI Fund will use the
contact information in AMIS to communicate with Applicants and
Recipients. It is imperative, therefore, that Applicants, Recipients,
Subsidiaries, Affiliates, and signatories maintain accurate contact
information in their accounts. This includes information such as
contact names (especially for the Authorized Representative), email
addresses, fax and phone numbers, and office locations.
D. Civil Rights and Diversity: Any person who is eligible to
receive benefits or services from the CDFI Fund or Recipients under any
of its programs is entitled to those benefits or services without being
subject to discrimination prohibited by federal civil rights laws or
regulations. The Department of the Treasury's Office of Civil Rights
and Diversity enforces various federal statutes and regulations that
prohibit discrimination in financially assisted and conducted programs
and activities of the CDFI Fund. If anyone believes that s/he has been
subjected to discrimination and/or reprisal because of membership in a
protected group, s/he may file a complaint with Director, Office of
Civil Rights and Diversity, U.S. Department of the Treasury,
Departmental Offices, 1500 Pennsylvania Ave NW, Washington, DC 20220,
or (202) 622-1160 (not a toll-free number).
E. Statutory and National Policy Requirements: The CDFI Fund will
manage and administer the CDFI ERP to ensure that federal funding is
expended and associated programs are implemented in full accordance
with the U.S. Constitution, federal law, and public policy
requirements, including, but not limited to, those protecting free
speech, religious liberty, public welfare, the environment, and
prohibiting discrimination.
VIII. Other Information
A. Paperwork Reduction Act: Under the Paperwork Reduction Act (44
U.S.C. chapter 35), an agency may not conduct or sponsor a collection
of information, and an individual is not required to respond to a
collection of information, unless it displays a valid OMB control
number. If applicable, the CDFI Fund may inform Applicants that they do
not need to provide certain Application information otherwise required.
Pursuant to the Paperwork Reduction Act, the CDFI ERP Application has
been assigned the following control number: 1559-0052.
B. Application Information Sessions: The CDFI Fund may conduct
webinars or host information sessions for organizations that are
considering applying to, or are interested in learning about, the CDFI
Fund's programs. For further information, visit the CDFI Fund's website
at <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>.
Authority: Pub. L. 116-260; 12 U.S.C. 4701, et seq.; 12 CFR parts
1805 and 1815; 2 CFR part 200.
Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2022-13452 Filed 6-23-22; 8:45 am]
BILLING CODE 4810-05-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on June 24, 2022.
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.