Home/Federal/Federal Register/2023-06827

Notice2023-06827

Funding Opportunities: Bank Enterprise Award (BEA) Program; FY 2023 Funding Round

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

April 3, 2023

Issuing agencies

Treasury DepartmentCommunity Development Financial Institutions Fund

Abstract

This NOFA is issued in connection with the fiscal year (FY) 2023 funding round of the Bank Enterprise Award Program (BEA Program). The BEA Program is administered by the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund awards formula-based grants to depository institutions that are insured by the Federal Deposit Insurance Corporation (FDIC) for increasing their levels of loans, investments, Service Activities, and technical assistance to residents and businesses in the most economically Distressed Communities, and financial assistance and technical assistance to Certified Community Development Financial Institutions (CDFIs) through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of assistance, during a specified period.

Full Text

<html>
<head>
<title>Federal Register, Volume 88 Issue 63 (Monday, April 3, 2023)</title>
</head>
<body><pre>
[Federal Register Volume 88, Number 63 (Monday, April 3, 2023)]
[Notices]
[Pages 19714-19727]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-06827]

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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Funding Opportunities: Bank Enterprise Award (BEA) Program; FY
2023 Funding Round

Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for the Fiscal Year (FY) 2023 Funding Round of
the Bank Enterprise Award Program (BEA Program).
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2023-BEA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
Dates:

Table 1--FY 2023 BEA Program Funding Round--Key Dates for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time--ET) Contact information
----------------------------------------------------------------------------------------------------------------
Grant Application Package/SF-424 May 2, 2023............ 11:59 p.m Contact <a href="http://Grants.gov">Grants.gov</a> at
Mandatory (Application for Federal 800-518-4726 or
Assistance). <a href="/cdn-cgi/l/email-protection#780b0d0808170a0c381f0a19160c0b561f170e">[email&#160;protected]</a>.
Submission Method: Electronically
via <a href="http://Grants.gov">Grants.gov</a>.
Last day to register a user and May 2, 2023............ 5 p.m CDFI Fund IT Helpdesk:
organization in AMIS. 202-653-0422 or IT
Award Management
Information System
(AMIS) Service
Request.\1\
Last day to enter, edit or delete May 30, 2023........... 5 p.m CDFI Fund IT Helpdesk:
BEA transactions, and verify 202-653-0422 or IT
addresses/census tracts in AMIS. AMIS Service
Request.\2\
Last day to contact BEA Program May 30, 2023........... 5 p.m CDFI Fund BEA Helpdesk:
Staff re: BEA Program Application 202-653-0421 or BEA
materials. AMIS Service
Request.\3\
Last day to contact Certification, May 30, 2023........... 5 p.m CCME Helpdesk: 202-653-
Compliance Monitoring and 0423 or Compliance and
Evaluation (CCME) staff. Reporting AMIS Service
Request.\4\
Last day to contact IT Help Desk re: June 1, 2023........... 5 p.m CDFI Fund IT Helpdesk:
AMIS support and submission of the 202-653-0421 or IT
FY 2023 BEA Program Electronic AMIS Service
Application in AMIS. Request.\5\
FY 2023 BEA Program Electronic June 1, 2023........... 5 p.m CDFI Fund IT Helpdesk:
Application. 202-653-0422 or IT
AMIS Service
Request.\6\
Submission Method: Electronically
via AMIS.
----------------------------------------------------------------------------------------------------------------
\1\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
within AMIS. For the SR, select ``Technical Issues'' from the Program drop down menu.
\2\ Ibid.

[[Page 19715]]

\3\ For questions regarding completion of the BEA Application materials, the preferred electronic method of
contact with the BEA Program Office is to submit a Service Request (SR) within AMIS. For the SR, select ``BEA
Program'' from the Program drop down menu of the Service Request.
\4\ For Compliance and Reporting related questions, the preferred electronic method of contact is to submit a
Service Request (SR) within AMIS. For the SR, select ``Compliance and Reporting'' from the Program drop down
menu of the Service Request.
\5\ For Information Technology support, the preferred method of contact is to submit a Service Request (SR)
within AMIS. For the SR, select ``Technical Issues'' from the Program drop down menu of the Service Request.
\6\ Ibid.

Executive Summary: This NOFA is issued in connection with the
fiscal year (FY) 2023 funding round of the Bank Enterprise Award
Program (BEA Program). The BEA Program is administered by the U.S.
Department of the Treasury's Community Development Financial
Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund
awards formula-based grants to depository institutions that are insured
by the Federal Deposit Insurance Corporation (FDIC) for increasing
their levels of loans, investments, Service Activities, and technical
assistance to residents and businesses in the most economically
Distressed Communities, and financial assistance and technical
assistance to Certified Community Development Financial Institutions
(CDFIs) through equity investments, equity-like loans, grants, stock
purchases, loans, deposits, and other forms of assistance, during a
specified period.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development and Regulatory Improvement Act of 1994 to promote economic
revitalization and community development through investment in and
assistance to CDFIs.
The BEA Program complements the community development activities of
banks and thrifts (collectively referred to as banks for purposes of
this NOFA), by providing financial incentives to expand investments in
CDFIs and to increase lending, investment, and Service Activities
within Distressed Communities. Providing monetary awards to banks for
increasing their community development activities leverages the CDFI
Fund's dollars and puts more capital to work in Distressed Communities
throughout the nation.
B. Authorizing Statutes and Regulations: The BEA Program was
authorized by the Bank Enterprise Award Act of 1991, as amended. The
regulations governing the BEA Program can be found at 12 CFR part 1806
(the Interim Rule). The Interim Rule provides the evaluation criteria
and other requirements of the BEA Program. Detailed BEA Program
requirements are also found in the application materials associated
with this NOFA (the Application). The CDFI Fund encourages interested
parties and Applicants to review the authorizing statute, Interim Rule,
this NOFA, the Application, and the Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Administrative Requirements) for a complete
understanding of the BEA Program. Capitalized terms in this NOFA are
defined in the authorizing statute, the Interim Rule, this NOFA, the
Application, or the Uniform Administrative Requirements. Details
regarding Application content requirements are found in the Application
and related materials. Application materials can be found on <a href="http://Grants.gov">Grants.gov</a>
and the CDFI Fund's website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>.
C. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 200): The Uniform
Administrative Requirements codify financial, administrative,
procurement, and program management standards that Federal award-making
agencies and Award Recipients must follow. When evaluating award
applications, awarding agencies must evaluate the risks to the program
posed by each Applicant, and each Applicant's merits and eligibility.
These requirements are designed to ensure that Applicants for Federal
assistance receive a fair and consistent review prior to an award
decision. This review will assess items such as the Applicant's
financial stability, quality of management systems, history of
performance, and audit findings. In addition, the Uniform Requirements
include guidance on audit requirements and other award requirements
with which Award Recipients must comply.
D. Priorities: Through the BEA Program, the CDFI Fund specifies the
following priorities:
1. Estimated Award Amounts: The award percentage used to derive the
estimated award amount for Applicants that are CDFIs is three times
greater than the award percentage used to derive the estimated award
amount for Applicants that are not CDFIs;
2. Priority Factors: Priority Factors will be assigned based on an
Applicant's asset size, as described in Section V.A.14 of this NOFA
(Application Review Information: Priority Factors); and
3. Priority of Awards: The CDFI Fund will rank Applicants in each
category of Qualified Activity according to the priorities described in
Section V.A.16. of this NOFA (Application Review Information: Award
Percentages, Award Amounts, Application Review Process, Selection
Process, Programmatic Financial Risk, and Application Rejection), and
specifically parts V.B.2: Selection Process, V.B.3: Programmatic and
Financial Risk, and V.B.4: Persistent Poverty Counties.
E. Baseline Period and Assessment Period Dates: A BEA Program Award
is based on an Applicant's increase in Qualified Activities from the
Baseline Period to the Assessment Period, as reported on an individual
transaction basis in the Application. For the FY 2023 funding round,
the Baseline Period is (January 1, 2020 through June 30, 2021), and the
Assessment Period is (July 1, 2021 through December 31, 2022).
F. Funding Limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA. The CDFI Fund also reserves the right to
reallocate funds from the amount that is available through this NOFA to
other CDFI Fund programs, or to reallocate remaining funds to a future
BEA Program funding round, particularly if the CDFI Fund determines
that the number of awards made through this NOFA is fewer than
projected.
G. Persistent Poverty Counties: Pursuant to the Consolidated
Appropriations Act, 2023 (Pub. L. 117-328), Congress mandated that at
least ten percent of the CDFI Fund's appropriations be directed to
counties that meet the criteria for ``Persistent Poverty'' designation.
Persistent Poverty Counties (PPCs) are defined as any county, including
county equivalent areas in Puerto Rico, that has had 20 percent or more
of its population living in poverty over the past 30 years, as measured
by the 1990, 2000, and 2010 decennial censuses, and the 2016-2020 5-
year data series available from the American Community Survey of the
Census Bureau or any other territory or possession of the United States
that has had 20 percent or more of its population living in poverty
over the past 30 years, as measured by the 1990, 2000 and 2010

[[Page 19716]]

Island Areas Decennial Censuses, or equivalent data, of the Bureau of
the Census and published by the CDFI Fund at: <a href="https://www.cdfifund.gov/sites/cdfi/files/2023-03/PPC_2020_ACS_Jan20_2023.xlsx">https://www.cdfifund.gov/sites/cdfi/files/2023-03/PPC_2020_ACS_Jan20_2023.xlsx</a>. Applicants that
apply under this NOFA will be required to indicate the minimum and
maximum percentage of the BEA Program Award that the Applicant will
commit to investing in PPCs.

II. Federal Award Information

A. Funding Availability: The CDFI Fund expects to award up to $70
million for the FY 2023 BEA Program Award round under this NOFA. The
CDFI Fund reserves the right to award in excess of said funds under
this NOFA, provided that the appropriated funds are available. The CDFI
Fund reserves the right to impose a minimum or maximum award amount;
however, under no circumstances will an award be higher than $1 million
for any Award Recipient.
B. Types of Awards: BEA Program Awards are made in the form of
grants.
C. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2023 funding round
will begin in the fall of calendar year 2023. Specifically, the Period
of Performance begins on the Federal Award Date and will conclude at
least one (1) full year after the Federal Award Date as further
specified in the BEA Program Award Agreement (Award Agreement), during
which the Award Recipient must meet the performance goals set forth in
the Award Agreement.
D. Eligible Activities: Eligible activities for BEA Program
Applicants are referred to as Qualified Activities and are defined in
the Interim Rule to include CDFI Related Activities, Distressed
Community Financing Activities, and Service Activities (12 CFR
1806.103).
CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and
CDFI Support Activities. CDFI Equity consists of Equity Investments,
Equity-Like Loans, and Grants. CDFI Support Activities includes Loans,
Deposits and Technical Assistance.
Distressed Community Financing Activities (12 CFR 1806.103) means
Consumer Loans and Commercial Loans and Investments. Consumer Loans
include Affordable Housing Loans; Education Loans; Home Improvement
Loans; and Small Dollar Consumer Loans. Commercial Loans and
Investments includes Affordable Housing Development Loans and related
Project Investments; Commercial Real Estate Loans and related Project
Investments; and Small Business Loans and related Project Investments.
Service Activities (12 CFR 1806.103) include Deposit Liabilities,
Financial Services, Community Services, Targeted Financial Services,
and Targeted Retail Savings/Investment Products.
When calculating BEA Program Award amounts, the CDFI Fund will only
consider the amount of a Qualified Activity that has been fully
disbursed, subject to the requirements outlined in Section VI. of this
NOFA, in the case of Commercial Real Estate Loans and related Project
Investments, the total principal amount of the transaction must be $10
million or less to be considered a Qualified Activity. Notwithstanding
the foregoing, the CDFI Fund, in its sole discretion, may consider
transactions with a total principal value of over $10 million, subject
to review.
An activity funded with prior BEA Program Award dollars, or funded
to satisfy requirements of an Award Agreement from a prior BEA Program
award or an agreement under any CDFI Fund program, shall not constitute
a Qualified Activity for the purposes of calculating or receiving an
award.
E. Distressed Community: A Distressed Community must meet certain
minimum geographic area and eligibility requirements, which are defined
in the Interim Rule at 12 CFR 1806.103 and more fully described in 12
CFR 1806.401. Applicants should use the CDFI Information Mapping System
(CIMS) mapping tool to determine whether a Baseline Period activity or
Assessment Period activity is located in a qualified Distressed
Community. The CIMS mapping tool can be accessed through AMIS or the
CDFI Fund's website at <a href="https://www.cdfifund.gov/Pages/mapping-system.aspx">https://www.cdfifund.gov/Pages/mapping-system.aspx</a>. The CIMS mapping tool contains a step-by-step training
manual on how to use the tool. In addition, further instructions to
determine whether an activity is located in a qualified BEA Distressed
Community can be located at; <a href="https://www.cdfifund.gov/programs-training/programs/bank-enterprise-award/apply-step:">https://www.cdfifund.gov/programs-training/programs/bank-enterprise-award/apply-step:</a>, when selecting the
BEA Program Application CIMS3 Instructions document in the
``Application Materials'' section of the BEA web page on the CDFI
Fund's website. If you have any questions or problems with accessing
the CIMS mapping tool, please contact the CDFI Fund IT Help Desk by
telephone at (202) 653-0300, or by IT AMIS Service Request.
Please note that a Distressed Community as defined by the BEA
Program is not the same as an Investment Area as defined by the CDFI
Program, a Low-Income Community as defined by the NMTC Program, or an
Area of Economic Distress as defined by the Capital Magnet Fund
Program.
1. Designation of Distressed Community by a CDFI Partner: CDFI
Partners that receive CDFI Support Activities in the form of loans,
Technical Assistance or deposits from an Applicant must be integrally
involved in a Distressed Community. Applicants must provide evidence
that each CDFI Partner that is the recipient of CDFI Support Activities
is integrally involved in a Distressed Community, as noted in the
Application. CDFI Partners that receive Equity Investments, Equity-Like
Loans or Grants are not required to demonstrate Integral Involvement.
Additional information on Integral Involvement can be found in Section
V. of this NOFA.
2. Distressed Community Determination by a BEA Applicant:
Applicants applying for a BEA Program Award for performing Distressed
Community Financing Activities or Service Activities must verify that
addresses of both Baseline Period and Assessment Period activities are
in Distressed Communities when completing their Application.
A BEA Applicant shall determine an area is a Distressed Community
by:
a. selecting a census tract where the Qualified Activity occurred
that meets the minimum area and eligibility requirements; or
b. selecting the census tract where the Qualified Activity
occurred, plus one or more census tracts directly contiguous to where
the Qualified Activity occurred that when considered in the aggregate,
meet the minimum area and eligibility requirements set forth in this
section.
F. Award Agreement: Each Award Recipient under this NOFA must
electronically sign an Award Agreement via AMIS prior to payment of the
award proceeds by the CDFI Fund. The Award Agreement contains the terms
and conditions of the award. For further information, see Section VI.
of this NOFA.
G. Use of Award: It is the policy of the CDFI Fund that BEA Program
Awards may not be used by Award Recipients to recover overhead or
Indirect Costs. The Award Recipient may use up to 15 percent of the
total BEA Program Award amount on Qualified Activities as Direct
Administrative Expenses. ``Direct Administrative Expenses'' shall mean
Direct Costs, as described in section 2 CFR 200.413 of the Uniform
Requirements, which are incurred by the Award Recipient to carry out
the Qualified Activities. Such costs must be able to be specifically
identified with

[[Page 19717]]

the Qualified Activities and not also recovered as Indirect Costs.
``Indirect Costs'' means costs or expenses defined in accordance with
section 2 CFR 200.1 of the Uniform Requirements. In addition, the Award
Recipient must comply, as applicable, with the Buy American Act of
1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform
Requirements,\7\ with respect to any Direct Costs.
---------------------------------------------------------------------------

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

III. Eligibility Information

A. Eligible Applicants: For the purposes of this NOFA, the
following table sets forth the eligibility criteria to receive a BEA
Program award from the CDFI Fund.

Table 2--Eligibility Requirements for Applicants
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Eligible Applicants.......... <bullet> The depository institution
holding company of an Insured Depository
Institution may not apply on behalf of
an Insured Depository Institution.
Applications received from depository
institution holding companies will be
disqualified.
<bullet> Eligible Applicants for the BEA
Program must be Insured Depository
Institutions, as defined in the Interim
Rule.
<bullet> For the FY 2023 funding round,
an Applicant must have been FDIC-insured
as of the first day of the Baseline
Period, January 1, 2020, and maintain
its FDIC-insured status at the time of
Application to be eligible for
consideration for a BEA Program Award
under this NOFA.
CDFI Applicant............... <bullet> For the FY 2023 funding round,
an eligible Certified-CDFI Applicant is
an Insured Depository Institution that
is certified as of the publication date
of this NOFA in the Federal Register, or
has submitted a Certification
Application by September 30, 2022 and
maintains or receives its status as a
Certified CDFI at the time BEA Program
Awards are announced.
<bullet> No Applicant may receive a FY
2023 BEA Program Award, either directly
or through a community partnership, if
it has: (1) an application pending for
assistance under the CDFI Program; (2)
been awarded assistance from the CDFI
Fund under the CDFI Program within the
12-month period prior to the Federal
Award Date of the FY 2023 BEA Program
Award Agreement; (3) ever received
assistance under the CDFI Program based
on the same activities during the same
period for which it is seeking a FY 2023
BEA Program Award; or (4) ever received
assistance from another CDFI Fund
program or federal program based on the
same activities during the same period
for which it is seeking a FY 2023 BEA
Program Award.
Debarment/Do Not Pay <bullet> The CDFI Fund will conduct a
Verification. debarment check and will not consider an
Application submitted by an Applicant
(or Affiliate of an Applicant) if the
Applicant is delinquent on any Federal
debt.
<bullet> The Do Not Pay Business Center
was developed to support Federal
agencies in their efforts to reduce the
number of improper payments made through
programs funded by the Federal
government. The Do Not Pay Business
Center provides delinquency information
to the CDFI Fund to assist with the
debarment check.
------------------------------------------------------------------------

B. Prior Award Recipients: The previous success of an Applicant in
any of the CDFI Fund's programs will not be considered under this NOFA.
Prior BEA Program Award Recipients and prior Award Recipients of other
CDFI Fund programs are eligible to apply under this NOFA, except as
noted in the following table:

Table 3--Eligibility Requirements for Applicants Which Are Prior Award
Recipients
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Pending resolution of Default <bullet> If an Applicant (or Affiliate of
or Noncompliance. an Applicant) that is a prior Award
Recipient or Allocatee under any CDFI
Fund program: (i) has demonstrated it is
in noncompliance with or default of 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 or default.
Default or Noncompliance <bullet> The CDFI Fund will not consider
status. an Application submitted by an Applicant
(or Affiliate of such Applicant) that
has a previously executed assistance
agreement, award agreement, bond loan
agreement, or agreement to guarantee or
allocation agreement if, as of the date
of the Application, (i) the CDFI Fund
has made a determination that such
entity is noncompliant with and or in
default of such previously executed
agreement, and (ii) the CDFI Fund has
provided written notification that such
entity is ineligible to apply for or
receive any future CDFI Fund awards or
allocations. Such entities will be
ineligible to submit an Application for
such time period as specified by the
CDFI Fund in writing.
------------------------------------------------------------------------

C. Contact the CDFI Fund: Accordingly, Applicants that are prior
Award Recipients and/or Allocatees under any CDFI Fund program are
advised to comply with requirements specified in an assistance
agreement, award agreement, allocation agreement, bond loan agreement,
or agreement to guarantee. All outstanding reports and compliance
questions should be directed to the Certification, Compliance
Monitoring and Evaluation helpdesk by submitting a BEA Compliance and
Reporting AMIS Service Request or by telephone at (202) 653-0423. The
CDFI Fund will respond to Applicants' reporting, compliance, or
disbursement questions between the

[[Page 19718]]

hours of 9 a.m. and 5 p.m. ET, starting on the date of the publication
of this NOFA. The CDFI Fund will not respond to Applicants' reporting,
compliance, or disbursement telephone calls or electronic inquiries
received after 5 p.m. ET on May 30, 2023, until after the Application
deadline. The CDFI Fund will respond to technical issues related to
AMIS Accounts through 5 p.m. ET on June 1, 2023, via an IT AMIS Service
Request, email at <a href="/cdn-cgi/l/email-protection#73323e3a20331017151a5d07011612005d141c05">[email&#160;protected]</a>, or by telephone at (202) 653-
0422.
D. Cost sharing or matching fund requirements: Not applicable.

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 the CDFI Fund's website at
<a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>. Applicants may request a paper version of any
Application material by contacting the CDFI Fund Help Desk at
<a href="/cdn-cgi/l/email-protection#d7b4b3b1bebfb2bba797b4b3b1bef9a3a5b2b6a4f9b0b8a1">[email&#160;protected]</a>.
B. Content and Form of Application Submission: All Application
materials must be prepared using the English language and calculations
must be made in U.S. dollars. Applicants must submit all materials
described in and required by the Application by the applicable
deadlines. Detailed Application content requirements, including
instructions related to the submission of the Grant Application Package
in <a href="http://Grants.gov">Grants.gov</a> and the FY 2023 BEA Program Application in AMIS, the CDFI
Fund's web-based portal, are provided in detail in the Application
Instructions. Once an Application is submitted, the Applicant will not
be allowed to change any element of the Application. 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.
C. Application Submission: The CDFI Fund has a two-step submission
process for BEA Applications that requires the submission of required
application information on two separate deadlines and in two separate
and distinct systems, <a href="http://Grants.gov">Grants.gov</a> and the CDFI Fund's AMIS. The first
step is the submission of the Grant Application, which consists solely
of the Office of Management and Budget Standard Form--424 Mandatory
(SF-424 Mandatory) Application for Federal Assistance, in <a href="http://Grants.gov">Grants.gov</a>.
The second step is to submit an FY 2023 BEA Program Application in
AMIS.
D. <a href="http://Grants.gov">Grants.gov</a>: Applicants must be registered with <a href="http://Grants.gov">Grants.gov</a> to
submit the Grants Application Package. The Grants Application Package
consists of one item, the SF-424 Mandatory. In order to register with
<a href="http://Grants.gov">Grants.gov</a>, Applicants must have a UEI (Unique Entity Identifier) and
have an active registration with <a href="http://SAM.gov">SAM.gov</a>. 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="https://www.grants.gov/web/grants/register.html">https://www.grants.gov/web/grants/register.html</a>) as it may take several weeks to complete.
Applicants that have previously registered with <a href="http://Grants.gov">Grants.gov</a> must verify
that their 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 administer or maintain
this system.
Applicants are required to submit a Grant Application Package in
<a href="http://Grants.gov">Grants.gov</a> and have it validated by the <a href="http://Grants.gov">Grants.gov</a> submission deadline
of May 2, 2023. The Grant Application Package is validated by
<a href="http://Grants.gov">Grants.gov</a> after the Applicant's initial submission and it may take
<a href="http://Grants.gov">Grants.gov</a> up to 48 hours to complete the validation process.
Therefore, the CDFI Fund encourages Applicants to submit the Grant
Application Package as early as possible. This will help to ensure that
the Grant Application Package is validated before the <a href="http://Grants.gov">Grants.gov</a>
submission deadline and provide time for Applicants to contact
<a href="http://Grants.gov">Grants.gov</a> directly to resolve any submission issues since the CDFI
Fund does not administer or maintain that system. For more information
about <a href="http://Grants.gov">Grants.gov</a>, please visit <a href="https://www.grants.gov">https://www.grants.gov</a> and see Table 8
for <a href="http://Grants.gov">Grants.gov</a> contact information.
The CDFI Fund electronically retrieves validated Grant Application
Packages from <a href="http://Grants.gov">Grants.gov</a> and therefore only considers the submission of
the Grant Application Package to be successful when it has been
validated by <a href="http://Grants.gov">Grants.gov</a> before the submission deadline. It is the
Applicant's sole responsibility to ensure that its Grant Application
Package is submitted and validated by <a href="http://Grants.gov">Grants.gov</a> before the submission
deadline. Applicants that do not successfully submit their Grant
Application Package and have it validated by the <a href="http://Grants.gov">Grants.gov</a> submission
deadline will not be able to submit a FY 2023 BEA Program Application
in AMIS. The CDFI Fund will electronically retrieve validated Grant
Application Packages from <a href="http://Grants.gov">Grants.gov</a> on a daily basis. Applicants are
advised that it will take up to 48 hours from when the CDFI Fund
retrieves the validated Grant Application Package for it to be
available in AMIS to associate with a FY 2023 BEA Program Application.
Once the CDFI Fund has retrieved the validated Grant Application
Package from <a href="http://Grants.gov">Grants.gov</a> and made it available in AMIS, Applicants must
associate it with their Application. Applicants can begin working on
their FY 2023 BEA Program Application in AMIS at any time, however,
they will not be able to submit the Application until the validated
Grant Application Package is associated, by the Applicant, with the
Application.
Applicants are advised that the CDFI Fund will not notify them when
the validated Grant Application Package has been retrieved from
<a href="http://Grants.gov">Grants.gov</a> or when it is available in AMIS. It is the Applicant's
responsibility to ensure that the validated SF-424 Mandatory is
associated with its FY 2023 BEA Application in AMIS. Applicants will
not be able to submit their FY 2023 BEA Program Application without
completing this step.
Applicants are advised that the lookup function in the FY 2023 BEA
Application in AMIS, uses the UEI reported on the validated Grant
Application Package to match it with the correct AMIS Organization
account. Therefore, Applicants must make sure the UEI included in the
Grant Application Package submitted in <a href="http://Grants.gov">Grants.gov</a> matches the UEI in
their AMIS Organization account. If, for example, the UEI does not
match because the Applicant inadvertently used the UEI of their Bank
Holding Company on the Grant Application Package in <a href="http://Grants.gov">Grants.gov</a> and is
attempting to associate with AMIS Organization account of their FDIC-
Insured Bank Subsidiary, the lookup function will not return any
results and the Applicant will not be able to submit the FY 2023 BEA
Application.
Applicants are also highly encouraged to provide EIN, Authorized
Representative and/or Contact Person information on the Grant
Application Package that matches the information included in AMIS
Organization account.
E. Unique Entity Identifier: The Unique Entity Identifier (UEI) has
replaced the Dun and Bradstreet Universal Numbering System (DUNS)
number. 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 federal 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

[[Page 19719]]

viewable in <a href="http://SAM.gov">SAM.gov</a>, this includes inactive registrations. New
registrants will be assigned a UEI as part of their SAM registration.
F. System for Award Management (SAM): An active SAM account is
required to submit the required Grant Application Package in
<a href="http://Grants.gov">Grants.gov</a>. 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 in order to submit its Grant Application Package in <a href="http://Grants.gov">Grants.gov</a> or
FY 2023 BEA Program Application in AMIS. 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 don't already
have one). Going forward, users will use their <a href="http://login.gov">login.gov</a> username and
password every time when logging in to <a href="http://SAM.gov">SAM.gov</a>. Applicants must have
established an active <a href="http://SAM.gov">SAM.gov</a> account no later than 30 days after the
release of this NOFA. The SAM registration process can take four weeks
or longer to complete so Applicants are strongly encouraged to begin
the registration process upon release of this NOFA in order to avoid
potential Application submission problems. Applicants that have
previously completed the SAM registration process must verify that
their SAM accounts are current and active. Applicants are advised to
complete the <a href="http://SAM.gov">SAM.gov</a> process at least 48 hours in advance of the Grants
Application Package deadline. Applicants are required to maintain a
current and active SAM account at all times during which it has an
active federal award or an application under consideration for an award
by a federal awarding agency.
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
or on existing registrations where there is no existing entity
administrator. 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. Applicants are required to
maintain a current and active SAM account at all times during which it
has an active federal award or an application under consideration for
an award by a federal awarding agency.
The CDFI Fund will not consider any Applicant that fails to
properly register or activate its SAM account and, as a result, is
unable to submit its Grant Application Package in <a href="http://Grants.gov">Grants.gov</a> or FY 2023
BEA Program Application in AMIS by the respective deadlines. Applicants
must contact SAM directly with questions related to SAM registration or
account changes as the CDFI Fund does not administer or maintain this
system. For more information about SAM, please visit <a href="https://www.sam.gov">https://www.sam.gov</a> or call 866-606-8220.
G. AMIS: All Applicants must complete an FY 2023 BEA Program
Application in AMIS, the CDFI Fund's web-based portal. All Applicants
must register User and Organization accounts in AMIS by May 2, 2023. In
addition, all BEA transactions must be finalized in AMIS by May 30,
2023; this includes address/census tract verification. No transactions
can be added, edited, or deleted after this deadline. Failure to
register and complete a FY 2023 BEA Program Application in AMIS in
accordance with the deadlines noted in Table 1: FY 2023 BEA Program
Funding Round--Key Dates for Applicants will result in the CDFI Fund
being unable to accept the Application. As AMIS is the CDFI Fund's
primary means of communication with Applicants and Award Recipients,
institutions must make sure that they update their contact information
in their AMIS accounts. In addition, the Applicant should ensure that
the institution information (name, EIN, UEI, Authorized Representative,
contact information, etc.) on the Grant Application Package submitted
as part of the Grant Application Package in <a href="http://Grants.gov">Grants.gov</a> matches the
information in AMIS. EINs and UEIs in the Applicant's SAM account must
match those listed in AMIS. For more information on AMIS, please see
the information available through the AMIS Home page at <a href="https://amis.cdfifund.gov">https://amis.cdfifund.gov</a>. Qualified Activity documentation and other
attachments as specified in the applicable BEA Program Application must
also be submitted electronically via AMIS. Detailed instructions
regarding submission of Qualified Activity documentation is provided in
the Application Instructions and AMIS Training Manual for the BEA
Program Application. Applicants will not be allowed to submit missing
Qualified Activity documentation after the BEA Transactions deadline
and any Qualified Activity missing the required documentation will be
disqualified. Qualified Activity documentation delivered by hard copy
to the CDFI Fund's Washington, DC office address will be rejected,
unless the Applicant previously requested a paper version of the
Application as described in Section IV.A.
H. Submission Dates and Times: The following table provides the
critical deadlines for the FY 2023 BEA Funding Round. Applications and
any other required documents or attachments received after the
applicable deadline will be rejected. The document submission deadlines
stated in this NOFA and the Application are strictly enforced. The CDFI
Fund will not grant exceptions or waivers for late submissions except
where the submission delay was a direct result of a Federal government
administrative or technological error.

Table 4--Critical Deadlines for FY 2023 BEA Funding Round
------------------------------------------------------------------------
Time (eastern
Description Deadline time)
------------------------------------------------------------------------
Grant Application Package/SF-424 May 2, 2023 2023.. 11:59 p.m. ET.
Mandatory Submission Method:
Electronically via <a href="http://Grants.gov">Grants.gov</a>.
FY 2023 BEA Program Application June 1, 2023 2023. 5 p.m. ET.
Submission Method:
Electronically via AMIS.
------------------------------------------------------------------------

1. Confirmation of Application Submission: Applicants may verify
that their Grant Application Package was successfully submitted and
validated in <a href="http://Grants.gov">Grants.gov</a> and that their FY 2023 BEA Program Application
was successfully submitted in AMIS. Applicants should note that the
Grant Application Package consists solely of the SF-424 Mandatory and
has a different deadline than the FY 2023 BEA Program Application.
These deadlines are provided above in Table 4: FY 2023 BEA Program
Funding Round Critical Deadlines for Applicants. If the Grant
Application Package is not successfully submitted and subsequently
validated by <a href="http://Grants.gov">Grants.gov</a> by the deadline, the CDFI Fund will not review
the FY 2023 BEA Program Application or any of the Application related
material submitted in AMIS and the Application will be deemed
ineligible.

[[Page 19720]]

a. <a href="http://Grants.gov">Grants.gov</a> Submission Information: In order to determine whether
the Grant Application Package was submitted properly, each Applicant
should: (1) receive two separate emails from <a href="http://Grants.gov">Grants.gov</a>, and (2)
perform an independent step in <a href="http://Grants.gov">Grants.gov</a> to determine whether the
Grant Application was validated. Each Applicant will receive the first
email from <a href="http://Grants.gov">Grants.gov</a> immediately after the Grant Application Package
is submitted confirming that the submission has entered the <a href="http://Grants.gov">Grants.gov</a>
system. This email will contain a tracking number. Within 48 hours, the
Applicant will receive a second email which will indicate if the
submitted Grant Application Package was successfully validated or
rejected with errors. However, Applicants should not rely on the second
email notification from <a href="http://Grants.gov">Grants.gov</a> to confirm that the Grant
Application Package was validated. Instead, Applicants should then
perform an independent step in <a href="http://Grants.gov">Grants.gov</a> to determine if the Grant
Application Package status shows as ``Validated'' by clicking on the
``Applicants'' menu, followed by clicking ``Track my Application,'' and
then entering the tracking number provided in the first email. The
Grant Application Package cannot be retrieved by the CDFI Fund until it
has been validated by <a href="http://Grants.gov">Grants.gov</a>.
b. AMIS Submission Information: AMIS is the web-based portal where
Applicants will directly enter their Application information and add
supporting documentation, when applicable. The CDFI Fund strongly
encourages the Applicant to allow sufficient time to confirm the
Application content, review the material submitted, and remedy any
issues prior to the BEA Transactions deadline. Only the Authorized
Representative or an Application Point of Contact can submit the FY
2023 BEA Program Application in AMIS.
Applicants will not receive an email confirming that their FY 2023
BEA Program Application was successfully submitted in AMIS. Instead,
Applicants should check their AMIS account to ensure that the status of
the FY 2023 BEA Program Application shows ``Under Review.'' Step-by-
step instructions for submitting an FY 2023 BEA Program Application in
AMIS are provided in the Application Instructions, Supplemental
Guidance, and AMIS Training Manual for the BEA Program Electronic
Application.
2. Multiple Application Submissions: If an Applicant submits
multiple versions of its Grant Application Package in <a href="http://Grants.gov">Grants.gov</a>, the
Applicant can only associate one with its FY 2023 BEA Program
Application in AMIS.
Applicants can only submit one FY 2023 BEA Program Application in
AMIS. Upon submission, the Application will be locked and cannot be
resubmitted, edited, or modified in any way. The CDFI Fund will not
unlock a submitted Application or allow multiple Application
submissions.
3. Late Submission: The CDFI Fund will not accept an SF-424
Mandatory in <a href="http://Grants.gov">Grants.gov</a> or an FY 2023 BEA Program Application in AMIS
if it is not signed by an Authorized Representative or submitted after
the respective deadlines. In either case, the CDFI Fund will not review
any material submitted, and the Application will be deemed ineligible,
except where the submission delay was a direct result of a Federal
government administrative or 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. In such case, the Applicant must
submit their request for acceptance of a late Application submission to
the BEA Program Office via an AMIS Service Request with documentation
that clearly demonstrates the error by no later than two business days
after the applicable Application deadline for <a href="http://Grants.gov">Grants.gov</a> or AMIS. The
CDFI Fund will not respond to a request for acceptance of late
Application submissions after that time period. The AMIS Service
Request must be directed to the BEA Program with a subject line of ``FY
2023 BEA Late Application Submission Request.''
I. Funding Restrictions: BEA Program Awards are limited by the
following:
1. The Award Recipient shall use BEA Program Award funds only for
the eligible activities described in Section II. D. of this NOFA and
the Authorized BEA Program Activities described in its Award Agreement.
2. The Award Recipient may not distribute BEA Program Award funds
to an Affiliate, Subsidiary, or any other entity, without the CDFI
Fund's prior written approval.
3. BEA Program Award funds shall only be disbursed to the Award
Recipient.
4. The CDFI Fund, in its sole discretion, may disburse BEA Program
Award funds in amounts, or under terms and conditions, which are
different from those requested by an Applicant.
J. Other Submission Requirements: None.

V. Application Review Information

A. Criteria: If the Applicant submitted a complete and eligible
Application, the CDFI Fund will conduct a substantive review in
accordance with the criteria and procedures described in the
Regulations, this NOFA, the Application guidance, and the Uniform
Requirements. The CDFI Fund reserves the right to contact the Applicant
by telephone, email, or mail for the sole purpose of clarifying or
confirming Application information. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or run the
risk that its Application will be rejected.
The CDFI Fund will not collect or accept any Personally
Identifiable Information (PII) in AMIS or in any of the Application
submission materials. 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/
residents of Distressed Communities in AMIS, Applicants must not
include the following PII for the individuals who received the
financial products or services in AMIS or in the supporting
documentation: name of the individual, Social Security Number, driver's
license or state identification number, passport number, and Alien
Registration Number. This information should be redacted from all
supporting documentation. If the CDFI Fund discovers PII during the
review of an Application, the transaction will be deleted from the
application record and deemed ineligible.
1. CDFI Related Activities: CDFI Related Activities include Equity
Investments, Equity-Like Loans, and CDFI Support Activities provided to
eligible CDFI Partners.
2. Eligible CDFI Partner: CDFI Partner is defined as a Certified
CDFI that has been provided assistance in the form of CDFI Related
Activities by an unaffiliated Applicant (12 CFR 1806.103). For the
purposes of this NOFA, an eligible CDFI Partner must have been
certified as a CDFI as of the date that the BEA Applicant made its
investment or provided support, and be Integrally Involved in a
Distressed Community (if the BEA Applicant provided CDFI Support
Activities to the CDFI Partner).
3. Integrally Involved: Integrally Involved is defined at 12 CFR
1806.103. For purposes of this NOFA, in order for an Applicant to
report CDFI Support Activities in its Application, the CDFI Partner
which received the support must be deemed to be Integrally Involved by
demonstrating it has: (i) provided at least 10 percent of the

[[Page 19721]]

number of its financial transactions or dollars transacted (e.g., loans
or Equity Investments), or 10 percent of the number of its Development
Service Activities (as defined in 12 CFR 1805.104) or value of the
administrative cost of providing such services, in one or more
Distressed Communities identified by the CDFI Partner, in each of the
three calendar years preceding the date of this NOFA; (ii) transacted
at least 25 percent of the number of its financial transactions or
dollars transacted (e.g., loans or equity investments) in one or more
Distressed Communities in at least one of the three calendar years
preceding the date of this NOFA, or 25 percent of the number of its
Development Service Activities (as defined in 12 CFR 1805.104) or value
of the administrative cost of providing such services, in one or more
Distressed Communities identified by the CDFI Partner, in at least one
of the three calendar years preceding the date of this NOFA; (iii)
demonstrated that it has attained at least 10 percent of market share
for a particular financial product in one or more Distressed
Communities (such as home mortgages originated in one or more
Distressed Communities) in at least one of the three calendar years
preceding the date of this NOFA; or (iv) at least 25 percent of the
CDFI Partner's physical locations (e.g., offices or branches) are
located in one or more Distressed Communities where it provided
financial transactions or Development Service Activities during the one
calendar year preceding the date of the NOFA.
4. Limitations on eligible Qualified Activities provided to certain
CDFI Partners: A CDFI Applicant cannot receive credit for any financial
assistance or Qualified Activities provided to a CDFI Partner that is
also an FDIC-insured depository institution or depository institution
holding company.
5. Certificates of Deposit: Any certificate of deposit (CD) placed
by an Applicant or its Subsidiary in a CDFI Partner that is a bank,
thrift, or credit union must be: (i) uninsured and committed for at
least three years; or (ii) insured, committed for a term of at least
three years, and provided at an interest rate that is materially below
market rates, in the determination of the CDFI Fund.
a. For purposes of this NOFA, ``materially below market interest
rate'' is defined as an annual percentage rate that does not exceed the
yields on Treasury securities at constant maturity as interpolated by
Treasury from the daily yield curve and available on the Treasury
website at <a href="http://www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml">www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml</a>. For example, for a three-year CD, Applicants
should use the three-year rate U.S. Government securities, Treasury
Yield Curve Rate posted for that business day. The Treasury updates the
website daily at approximately 5:30 p.m. ET. CDs placed prior to that
time may use the rate posted for the previous business day. The annual
percentage rate on a CD should be compounded daily, quarterly, semi-
annually, or annually. If a variable interest rate is used, the CD must
also have an interest rate that is materially below the market interest
rate over the life of the CD, in the determination of the CDFI Fund. If
a variable rate is used, the Applicant must describe its methodology
for determining that the interest rate over the life of the CD is a
materially below market interest rate. The CDFI Fund reserves the right
to follow up with an Applicant regarding variable interest rate CD
transactions.
b. For purposes of this NOFA, a deposit placed by an Applicant
directly with a CDFI Partner that participates in a deposit network or
service may be treated as eligible under this NOFA if it otherwise
meets the criteria for deposits specified in this NOFA and the CDFI
Partner retains the full amount of the initial deposit or an amount
equivalent to the full amount of the initial deposit through a deposit
network exchange transaction.
6. Equity Investment: An Equity Investment means financial
assistance provided by an Applicant or its Subsidiary to a CDFI, which
CDFI meets such criteria as set forth in this NOFA, in the form of a
grant, a stock purchase, a purchase of a partnership interest, a
purchase of a limited liability company membership interest, or any
other investment deemed to be an Equity Investment by the CDFI Fund.
7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an
Applicant or its Subsidiary to a CDFI, and made on such terms that it
has characteristics of an Equity Investment, as such characteristics
may be specified by the CDFI Fund (12 CFR 1806.103). For purposes of
this NOFA, an Equity-Like Loan must meet the following characteristics:
a. At the end of the initial term, the loan must have a definite
rolling maturity date that is automatically extended on an annual basis
if the CDFI borrower continues to be financially sound and carry out a
community development mission;
b. Periodic payments of interest and/or principal may only be made
out of the CDFI borrower's available cash flow after satisfying all
other obligations;
c. Failure to pay principal or interest (except at maturity) will
not automatically result in a default of the loan agreement; and
d. The loan must be subordinated to all other debt except for other
Equity-Like Loans. Notwithstanding the foregoing, the CDFI Fund
reserves the right to determine, in its sole discretion and on a case-
by-case basis, whether an instrument meets the above-stated
characteristics of an Equity-Like Loan.
8. CDFI Support Activity: A CDFI Support Activity is defined as
assistance provided by an Applicant or its Subsidiary to a CDFI that is
Integrally Involved in a Distressed Community, in the form of a loan,
Technical Assistance, or deposits.
9. CDFI Program Matching Funds: Equity Investments, Equity-Like
Loans, and CDFI Support Activities (except Technical Assistance)
provided by a BEA Applicant to a CDFI and used by the CDFI for matching
funds under the CDFI Program are eligible as a Qualified Activity under
the CDFI Related Activity category.
10. Commercial Loans and Investments: Commercial Loans and
Investments is a sub-category of Distressed Community Financing
Activities and is defined as the following lending activity types:
Affordable Housing Development Loans and related Project Investments;
Commercial Real Estate Loans and related Project Investments; and Small
Business Loans and related Project Investments.
11. Consumer Loans: Consumer Loans is a sub-category of Distressed
Community Financing Activities and is defined as the following lending
activity types: Affordable Housing Loans; Education Loans; Home
Improvement Loans; and Small Dollar Consumer Loans.
12. Distressed Community Financing Activities and Service
Activities: Distressed Community Financing Activities comply with
consumer protection laws and are defined as (1) Consumer Loans; or (2)
Commercial Loans and Investments. In addition to the requirements set
forth in the Interim Rule, this NOFA provides the following additional
requirements:
a. Affordable Housing Development Loans and Related Project
Investments: For purposes of this NOFA, eligible Affordable Housing
Development Loans and related Project Investments do not include
housing for students, or school dormitories. In addition, for such
transactions, Applicants will be required to provide supporting

[[Page 19722]]

documentation that demonstrates that at least 60 percent of the units
in the property financed are or will be sold or rented to Eligible
Residents who meet Low-and-Moderate-Income requirements, as noted in
the Application instructions.
b. Commercial Real Estate Loans and related Project Investments:
For purposes of this NOFA, eligible Commercial Real Estate Loans (12
CFR 1806.103) and related Project Investments are generally limited to
transactions with a total principal value of $10 million or less.
Notwithstanding the foregoing, the CDFI Fund, in its sole discretion,
may consider transactions with a total principal value of over $10
million, subject to review. For such transactions, Applicants must
provide a separate narrative, or other information, to demonstrate that
the proposed project offers, or significantly enhances the quality of,
a facility or service not currently provided to the Distressed
Community.
c. Small Dollar Consumer Loan: For purposes of this NOFA, eligible
Small Dollar Consumer Loans are responsible and affordable loans that
serve as available alternatives to the marketplace for individuals who
are Eligible Residents with a total principal value of no less than
$500 and no greater than $5,000 and have a term of ninety (90) days or
more. A responsible Small Dollar Loan generally considers the
borrower's ability to repay and may also reflect repayment terms,
pricing, and safeguards that minimize adverse customer outcomes,
including cycles of debt due to rollovers or reborrowing.
d. Distressed Community Financing Activities--Transactions Less
Than $250,000: For purposes of this NOFA, Applicants are expected to
maintain records for any transaction submitted as part of the FY 2023
BEA Program Application, including supporting documentation for
transactions in the Distressed Community Financing Activity category of
less than $250,000. The CDFI Fund reserves the right to request
supporting documentation from an Applicant during its Application
Review process for a Distressed Community Financing Activities
transaction less than $250,000.
e. Low- and Moderate-Income residents: For the purposes of this
NOFA, Low-Income means borrower income that does not exceed 80 percent
of the area median income, and Moderate-Income means borrower income
may be 81 percent to no more than 120 percent of the area median
income, according to the U.S. Census Bureau data.
13. Reporting Certain Financial Services: The CDFI Fund will value
the administrative cost of providing certain Financial Services using
the following per unit values:
a. $100.00 per account for Targeted Financial Services including
safe transaction accounts, youth transaction accounts, Electronic
Transfer Accounts and Individual Development Accounts;
b. $50.00 per account for checking and savings accounts that do not
meet the definition of Targeted Financial Services;
c. $5.00 per check cashing transaction;
d. $50,000 per new ATM installed at a location in a Distressed
Community;
e. $500,000 per new retail bank branch office opened in a
Distressed Community, including school-based bank branches approved by
the Applicant's Federal bank regulator;
f. In the case of Applicants engaging in Financial Services
activities not described above, the CDFI Fund will determine the unit
value of such services;
g. When reporting the opening of a new retail bank branch office,
the Applicant must certify that such new branch is intended to remain
in operation for at least the next five years;
h. Financial Service Activities must be provided by the Applicant
to Eligible Residents or enterprises that are located in a Distressed
Community. An Applicant may determine the number of Eligible Residents
who are Award Recipients of Financial Services by either: (i)
collecting the addresses of its Financial Services customers, or (ii)
certifying that the Applicant reasonably believes that such customers
are Eligible Residents or enterprises located in a Distressed Community
and providing a brief analytical narrative with information describing
how the Applicant made this determination. Citations must be provided
for external sources. In addition, if external sources are referenced
in the narrative, the Applicant must explain how it reached the
conclusion that the cited references are directly related to the
Eligible Residents or enterprises to whom it is claiming to have
provided the Financial Services; and
i. When reporting changes in the dollar amount of deposit accounts,
only calculate the net change in the total dollar amount of eligible
Deposit Liabilities between the Baseline Period and the Assessment
Period. Do not report each individual deposit. If the net change
between the Baseline Period and Assessment Period is a negative dollar
amount, then a negative dollar amount may be recorded for Deposit
Liabilities only. Instructions for determining the net change is
available in the FY 2023 BEA Program Application in AMIS.
14. Priority Factors: Priority Factors are the numeric values
assigned to individual types of activity within: (i) the Distressed
Community Financing Activities, and (ii) Services Activities categories
of Qualified Activities. For the purposes of this NOFA, Priority
Factors will be based on the Applicant's asset size as of the end of
the Assessment Period (December 31, 2022) as reported by the Applicant
in the Application. Asset size classes (i.e., small institutions,
intermediate-small institutions, and large institutions) will
correspond to the Community Reinvestment Act (CRA) asset size classes
set by the three Federal bank regulatory agencies and that were
effective as of the end of the Assessment Period. The Priority Factor
works by multiplying the change in a Qualified Activity by the assigned
Priority Factor to achieve a ``weighted value.'' This weighted value of
the change would be multiplied by the applicable Award percentage to
yield the Award amount for that particular activity. For purposes of
this NOFA, the CDFI Fund is establishing Priority Factors based on
Applicant asset size to be applied to all activity types within the
Distressed Community Financing Activities and Service Activities
categories only, as follows:

Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
Priority
factor
------------------------------------------------------------------------
Small institutions (assets of less than $376 million as 5.0
of 12/31/2022).........................................
Intermediate--small institutions (assets of at least 3.0
$376 million but less than $1.503 billion as of 12/31/
2022)..................................................
Large institutions (assets of $1.503 billion or greater 1.0
as of 12/31/2022)......................................
------------------------------------------------------------------------

[[Page 19723]]

15. Certain Limitations on Qualified Activities:
a. Low-Income Housing Tax Credits: Financial assistance provided by
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute
an Equity Investment, Project Investment, or other Qualified Activity,
for the purposes of calculating or receiving a BEA Program Award.
b. New Markets Tax Credits: Financial assistance provided by an
Applicant for which the Applicant receives benefits as an investor in a
Community Development Entity that has received an allocation of New
Markets Tax Credits, authorized pursuant to Section 45D of the Internal
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an
Equity Investment, Project Investment, or other Qualified Activity, for
the purposes of calculating or receiving a BEA Program Award. Leverage
loans used in New Markets Tax Credit structured transactions that meet
the requirements outlined in this NOFA are considered Distressed
Community Financing Activities. The Application materials will provide
further guidance on requirements for BEA transactions which were
leverage loans used in a New Markets Tax Credit structured transaction.
c. Loan Renewals and Refinances: Financial assistance provided by
an Applicant shall not constitute a Qualified Activity, as defined in
this part, for the purposes of calculating or receiving a BEA Program
Award if such financial assistance consists of a loan to a borrower
that has matured and is then renewed by the Applicant, or consists of a
loan to a borrower that is retired or restructured using the proceeds
of a new commitment by the Applicant.
d. Certain Business Types: Financial assistance provided by an
Applicant shall not constitute a Qualified Activity for the purposes of
financing the following business types: adult entertainment providers,
golf courses, race tracks, gambling facilities, country clubs,
facilities offering massage services, hot tub facilities, suntan
facilities, or stores where the principal business is the sale of
alcoholic beverages for consumption off premises.
e. Prior BEA Program Awards: Qualified Activities funded with prior
funding round BEA Program Award dollars or funded to satisfy
requirements of the BEA Program Award Agreement shall not constitute a
Qualified Activity for the purposes of calculating or receiving a BEA
Program Award.
f. Prior CDFI Fund Awards: No Applicant may receive a BEA Program
Award for the same activities funded by another CDFI Fund program or
federal program.
16. Award Percentages, Award Amounts, Application Review Process,
Selection Process, Programmatic and Financial Risk, and Application
Rejection: The Interim Rule and this NOFA describe the process for
selecting Applicants to receive a BEA Program Award and determining
Award amounts.
a. Award percentages: In the CDFI Related Activities subcategory of
CDFI Equity, for all Applicants, the estimated award amount will be
equal to 18 percent of the increase in Qualified Activities reported in
this subcategory.
In the CDFI Related Activities subcategory of CDFI Support
Activities, for a Certified CDFI Applicant, the estimated award amount
will be equal to 18 percent of the increase in Qualified Activities in
this subcategory. If an Applicant is not a Certified CDFI, the
estimated award amount will be equal to 6 percent of the increase in
Qualified Activities in this subcategory.
In the Distressed Community Financing Activities subcategory of
Consumer Lending, the estimated award amount for Certified CDFI
Applicants will be 18 percent of the weighted value of the increase in
Qualified Activities in this subcategory. If an Applicant is not a
Certified CDFI Applicant, the estimated award amount will be equal to 6
percent of the weighted value of the increase in Qualified Activities
in this subcategory.
In the Distressed Community Financing Activities subcategory of
Commercial Lending and Investments, for a Certified CDFI Applicant, the
estimated award amount will be equal to 9 percent of the weighted value
of the increase in Qualified Activities in this subcategory. If an
Applicant is not a Certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity in this subcategory.
In the Service Activities category, for a Certified CDFI Applicant,
the estimated award amount will be equal to 9 percent of the weighted
value of the increase in Qualified Activity for the category. If an
Applicant is not a Certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity for the category.
b. Award Amounts: An Applicant's estimated award amount will be
calculated according to the procedure outlined in the Interim Rule (at
12 CFR 1806.403). As outlined in the Interim Rule at 12 CFR 1806.404,
the CDFI Fund will determine actual award amounts based on the
availability of funds, increases in Qualified Activities from the
Baseline Period to the Assessment Period, and the priority ranking of
each Applicant.
In calculating the increase in Qualified Activities, the CDFI Fund
will determine the eligibility of each transaction for which an
Applicant has applied for a BEA Program Award. In some cases, the
actual award amount calculated by the CDFI Fund may not be the same as
the estimated award amount requested by the Applicant.
For purposes of calculating award payment amounts, the CDFI Fund
will treat Qualified Activities with a total principal amount less than
or equal to $250,000 as fully disbursed.
B. Review and Selection Process:
1. Application Review Process: All Applications will be initially
evaluated by external non-federal reviewers. Reviewers are selected
based on their experience in understanding various financial
transactions, reading and interpreting financial documentation, strong
written communication skills, and strong mathematical skills. Reviewers
must complete the CDFI Fund's conflict of interest process and be
approved by the CDFI Fund.
2. Selection Process: If the amount of funds available during the
funding round is insufficient for all estimated Award amounts, Award
Recipients will be selected based on the process described in the
Interim Rule at 12 CFR 1806.404. This process gives funding priority to
Applicants that undertake activities in the following order: (i) CDFI
Related Activities, (ii) Distressed Community Financing Activities, and
(iii) Service Activities, as described in the Interim Rule at 12 CFR
1806.404(c).
Within each category, CDFI Applicants will be ranked first
according to the ratio of the actual award amount calculated by the
CDFI Fund for the category to the total assets of the Applicant,
followed by Applicants that are not CDFI Applicants according to the
ratio of the actual award amount calculated by the CDFI Fund for the
category to the total assets of the Applicant.
Selections within each priority category will be based on the
Applicants' relative rankings within each such category, subject to the
availability of funds and any established maximum dollar amount of
total awards that may be awarded for the Distressed Community Financing
Activities category of Qualified Activities, as determined by the CDFI
Fund.

[[Page 19724]]

The CDFI Fund, in its sole discretion: (i) may adjust the estimated
award amount that an Applicant may receive; (ii) may establish a
maximum amount that may be awarded to an Applicant; and (iii) reserves
the right to limit the amount of an award to any Applicant if the CDFI
Fund deems it appropriate.
The CDFI Fund reserves the right to contact the Applicant to
confirm or clarify information. If contacted, the Applicant must
respond within the CDFI Fund's time parameters or the Application may
be rejected.
The CDFI Fund reserves the right to change its eligibility and
evaluation criteria and procedures. If those changes materially affect
the CDFI Fund's award decisions, the CDFI Fund will provide information
regarding the changes through the CDFI Fund's website.
3. Programmatic and Financial Risk: The CDFI Fund will consider
safety and soundness information from the appropriate Federal bank
regulatory agency as defined in Section 3 of the Federal Deposit
Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank
regulatory agency identifies safety and soundness concerns, the CDFI
Fund will assess whether the concerns cause or will cause the Applicant
to be incapable of completing the activities for which funding has been
requested. The CDFI Fund will not approve a BEA Program Award under any
circumstances for an Applicant if the appropriate Federal bank
regulatory agency indicates that the Applicant received a composite
rating of ``5'' on its most recent examination, performed in accordance
with the Uniform Financial Institutions Rating System.
Furthermore, the CDFI Fund will not approve a BEA Program Award for
an Applicant that has:
(i) a CRA assessment rating of below ``Satisfactory'' on its most
recent examination; (ii) a financial audit with: a going concern
paragraph, an adverse opinion, a disclaimer of opinion, or a withdrawal
of an opinion on its most recent audit; or (iii) a Prompt Corrective
Action directive from its regulator imposing restrictions on its level
of lending activities, that was active at the time the Applicant
submitted its Application to the CDFI Fund or becomes active during the
CDFI Fund's evaluation of the Application for: activities which funding
has been requested, activities which meet the BEA Program criteria of
Qualified Activities, or other circumstances which may impact an
Applicant's ability to successfully manage, re-invest, and/or report on
a FY 2023 BEA Program Award.
Applicants and/or their appropriate Federal bank regulator 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 to not approve a FY 2023
BEA Program Award for an Applicant if the information indicates that
the Applicant may be unable to responsibly manage, re-invest, and/or
report on a FY 2023 BEA Program Award during the period of performance.
4. Persistent Poverty Counties: Should the CDFI Fund determine,
upon analysis of the initial pool of BEA Program Award Recipients, that
it has not achieved the 10 percent PPC requirement mandated by
Congress, Award preference will be given to Applicants that committed
to deploying a minimum of 10 percent of their FY 2023 BEA Program Award
in PPCs. Applicants may be required to deploy more than the minimum
commitment percentage, but the percentage required should not exceed
the maximum commitment percentage provided in the Application.
Applicants that committed to serving PPCs and are selected to receive a
FY 2023 BEA Program award, will have their PPC commitment incorporated
into their Award Agreement as a Performance Goal which will be subject
to compliance and reporting requirements. No Applicant, however, will
be disqualified from consideration for not making a PPC commitment in
its BEA Program Application.
5. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative error)
comes to the CDFI Fund's attention that either: adversely affects an
Applicant's eligibility for an award; 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.
There is no right to appeal the CDFI Fund's award decisions. The
CDFI Fund's award decisions are final. The CDFI Fund will not discuss
the specifics of an Applicant's FY 2023 BEA Program Application or
provide reasons why an Applicant was not selected to receive a FY 2023
BEA Program Award. The CDFI Fund will only respond to general questions
regarding the FY 2023 BEA Program Application and award decision
process until 30 days after the award announcement date.
C. Anticipated Announcement and Federal Award Dates: The CDFI Fund
anticipates making its FY 2023 BEA Program award announcement in the
summer of 2023. The Federal Award Date shall be the date that the CDFI
Fund executes the Award Agreement.

VI. Federal Award Administration Information

A. Federal Award Notices: The CDFI Fund will notify an Applicant of
its selection as an Award Recipient by delivering a notification or
letter. The Award Agreement will contain the general terms and
conditions governing the CDFI Fund's provision of an Award. The Award
Recipient will receive a copy of the Award Agreement via AMIS. The
Award Recipient is required to sign the Award Agreement via an
electronic signature in AMIS. The CDFI Fund will subsequently execute
the Award Agreement. Each Award Recipient must also ensure that
complete and accurate banking information is reflected in its SAM
account at <a href="http://www.sam.gov">www.sam.gov</a> in order to receive its award payment.
B. Administrative and National Policy Requirements: If, prior to
entering into an Award Agreement, information (including an
administrative error) comes to the CDFI Fund's attention that adversely
affects: the Award Recipient's eligibility for an award; the CDFI
Fund's evaluation of the Application; the Award Recipient's compliance
with any requirement listed in the Uniform Requirements; or indicates
fraud or mismanagement on the Award Recipient's part, the CDFI Fund
may, in its discretion and without advance notice to the Award
Recipient, terminate the award or take other actions as it deems
appropriate.
If the Award Recipient's certification status as a CDFI changes,
the CDFI Fund reserves the right, in its sole discretion, to re-
calculate the award, and modify the Award Agreement based on the Award
Recipient's non-CDFI status.
By executing an Award Agreement, the Award Recipient agrees that,
if the CDFI Fund becomes aware of any information (including an
administrative error) prior to the effective date of the Award
Agreement that either adversely affects the Award Recipient's
eligibility for an award, or

[[Page 19725]]

adversely affects the CDFI Fund's evaluation of the Award Recipient's
Application, or indicates fraud or mismanagement on the part of the
Award Recipient, the CDFI Fund may, in its discretion and without
advance notice to the Award Recipient, terminate the Award Agreement or
take other actions as it deems appropriate.
The CDFI Fund reserves the right, in its sole discretion, to
rescind an award if the Award Recipient fails to return the Award
Agreement, signed by the authorized representative of the Award
Recipient, and/or provide the CDFI Fund with any other requested
documentation, within the CDFI Fund's deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Award Agreement and the award
made under this NOFA for any criteria described in the following table:

Table 6--Criteria That May Result in Award Termination Prior to the
Execution of an Award Agreement
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Failure to maintain FDIC-insured <bullet> If prior to entering into
status. an Award Agreement under this NOFA,
the Award Recipient does not
maintain its FDIC-insured status,
the CDFI Fund will terminate and/or
rescind the Award Agreement and the
award made under this NOFA.
Failure to meet reporting <bullet> If an Applicant is a prior
requirements. CDFI Fund Award Recipient or
Allocatee under any CDFI Fund
program and is not current on the
reporting requirements set forth in
the previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee, the CDFI Fund reserves
the right, in its sole discretion,
to delay entering into an Award
Agreement and/or to delay making a
disbursement of Award proceeds,
until said prior Award Recipient or
Allocatee is current on the
reporting requirements in the
previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee. Please note that
automated systems employed by the
CDFI Fund for receipt of reports
submitted electronically typically
acknowledge only a report's
receipt; such acknowledgment does
not warrant that the report
received was complete and therefore
met reporting requirements. If said
prior Award Recipient or Allocatee
is unable to meet this requirement
within the timeframe set by the
CDFI Fund, the CDFI Fund reserves
the right, in its sole discretion,
to terminate and rescind the award
made under this NOFA.
Pending resolution of Default or <bullet> If, at any time prior to
Noncompliance. entering into an Award Agreement
under this NOFA, an Applicant (or
Affiliate of an Applicant) that is
a prior CDFI Fund Award Recipient
or Allocatee under any CDFI Fund
program: (i) has demonstrated it
has been in noncompliance with or
in default of a previous
assistance, award, allocation
agreement, bond loan agreement, or
agreement to guarantee, but (ii)
the CDFI Fund has yet to make a
final determination regarding
whether or not the entity is in
noncompliance with or in default of
its previous assistance, award,
allocation, bond loan agreement, or
agreement to guarantee, the CDFI
Fund reserves the right, in its
sole discretion, to delay entering
into an Award Agreement and/or to
delay making a payment of award
proceeds, pending full resolution,
in the sole determination of the
CDFI Fund, of the noncompliance or
default.
<bullet> If said prior Award
Recipient or Allocatee 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 award made under
this NOFA.
Default or Noncompliance status... <bullet> If prior to entering into
an Award Agreement under this NOFA:
(i) the CDFI Fund has made a final
determination that an Applicant (or
an Affiliate of an Applicant) that
is a prior CDFI Fund Award
Recipient or Allocatee under any
CDFI Fund program whose award or
allocation terminated in default or
noncompliance of such prior
agreement; (ii) the CDFI Fund has
provided written notification of
such determination to such
organization; and (iii) the
anticipated date for entering into
the Award Agreement under this NOFA
is within a period of time
specified in such notification
throughout which any new award,
allocation, assistance, bond loan
agreement(s), or agreement to
guarantee is prohibited, the CDFI
Fund reserves the right, in its
sole discretion, to terminate and
rescind the Award Agreement and the
award made under this NOFA.
Compliance with Federal civil <bullet> If, within the period
rights requirements. starting three years prior to this
NOFA and through the date of the
Award Agreement, the Recipient
received a final determination, in
any proceeding instituted against
the Recipient in, by, or before any
court, governmental, or
administrative body or agency,
declaring that the Recipient
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
may terminate and rescind the Award
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 Award
Recipient (or Affiliate of a
Recipient) is identified as
ineligible to be an Award Recipient
per the Do Not Pay database.
Safety and Soundness.............. <bullet> If it is determined the
Award Recipient is or will be
incapable of meeting its award
obligations, the CDFI Fund will
deem the Award Recipient to be
ineligible or require it to improve
safety and soundness conditions
prior to entering into an Award
Agreement.
------------------------------------------------------------------------

C. Award Agreement: After the CDFI Fund selects an Award Recipient,
unless an exception detailed in this NOFA applies, the CDFI Fund and
the Award Recipient will enter into an Award Agreement. The Award

[[Page 19726]]

Agreement will set forth certain required terms and conditions of the
award, which will include, but not be limited to: (i) the amount of the
award; (ii) the approved uses of the award; (iii) the Performance Goals
and measures; (iv) the period of performance; and (v) the reporting
requirements. The Award Agreement shall provide that an Award Recipient
shall: (i) carry out its Qualified Activities in accordance with
applicable law, the approved Application, and all other applicable
requirements; (ii) not receive any disbursement of award dollars until
the CDFI Fund has determined that the Award Recipient has fulfilled all
applicable requirements; and (iii) use the BEA Program Award amount for
Qualified Activities. Award Recipients which committed to serving PPCs
will have their PPC commitment incorporated into their Award Agreement
as a Performance Goal, which will be subject to compliance and
reporting requirements.
D. Reporting: Through this NOFA, the CDFI Fund will require each
Award Recipient to account for and report to the CDFI Fund on the use
of the award. This will require Award Recipients to establish
administrative controls, subject to applicable OMB Circulars. The CDFI
Fund will collect information from each such Award Recipient on its use
of the award at least once following the award and more often if deemed
appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will
provide guidance to Award Recipients outlining the format and content
of the information required to be provided to describe how the funds
were used.
The CDFI Fund may collect information from each Award Recipient
including, but not limited to, an Annual Report with the following
components:

Table 7--Reporting Requirements
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Use of BEA Program Award Report-- Award Recipients must submit the Use
for all Award Recipients. of Award Report to the CDFI Fund
via AMIS.
Use of BEA Program Award Report-- The CDFI Fund will require each
Funds Deployed in Persistent Award Recipient with Persistent
Poverty Counties--as applicable. Poverty County commitments to
report data for Award funds
deployed in persistent poverty
counties and maintain proper
supporting documentation and
records which are subject to review
by the CDFI Fund.
Explanation of Noncompliance or If the Award Recipient fails to meet
successor report--as applicable. a Performance Goal or reporting
requirement, it must submit the
Explanation of Noncompliance via
AMIS.
------------------------------------------------------------------------

Each Award Recipient is responsible for the timely and complete
submission of the reporting requirements. The CDFI Fund reserves the
right to contact the Award Recipient to request additional information
and documentation. The CDFI Fund may consider financial information
filed with Federal regulators during its compliance review. The CDFI
Fund will use such information to monitor each Award Recipient's
compliance with the requirements in the Award Agreement and to assess
the impact of the BEA Program. The CDFI Fund reserves the right, in its
sole discretion, to modify these reporting requirements if it
determines it to be appropriate and necessary; however, such reporting
requirements will be modified only after notice has been provided to
Award Recipients.
E. Financial Management and Accounting: The CDFI Fund will require
Award Recipients to maintain financial management and accounting
systems that comply with federal statutes, regulations, and the terms
and conditions of the award. These systems must be sufficient to permit
the preparation of reports required by general and program specific
terms and conditions, including the tracing of funds to a level of
expenditures adequate to establish that such funds have been used
according to the federal statutes, regulations, and the terms and
conditions of the award.
Each of the Qualified Activities categories will be ineligible for
indirect costs and an associated indirect cost rate. The cost
principles used by Award 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 BEA Program Award. In addition, the CDFI Fund will
require Award Recipients to: maintain effective internal controls;
comply with applicable statutes, regulations, and the Award Agreement;
evaluate and monitor compliance; take action when not in compliance;
and safeguard personally identifiable information, as described in
Section V.A. of this NOFA.

VII. Federal Awarding Agency Contacts

A. Questions Related to Application and Prior Award Recipient
Reporting, Compliance and Disbursements: The CDFI Fund will respond to
questions concerning this NOFA, the Application and reporting,
compliance, or disbursements between the hours of 9 a.m. and 5 p.m.
Eastern Time, starting on the date that this NOFA is published through
the date listed in Table 1. The CDFI Fund will post responses to
frequently asked questions in a separate document on its website. Other
information regarding the CDFI Fund and its programs may be obtained
from the CDFI Fund's website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>.
The following table lists contact information for the CDFI Fund,
<a href="http://Grants.gov">Grants.gov</a> and SAM:

Table 8--Contact Information
------------------------------------------------------------------------
Telephone No. Electronic contact
Type of question (not toll free) method
------------------------------------------------------------------------
BEA Program...................... (202) 653-0421 BEA AMIS Service
Request.
Certification, Compliance (202) 653-0423 BEA Compliance and
Monitoring, and Evaluation. Reporting AMIS
Service Request.
AMIS--IT Help Desk............... (202) 653-0422 IT AMIS Service
Request.
<a href="http://Grants.gov">Grants.gov</a> Help Desk............. (800) 518-4726 <a href="/cdn-cgi/l/email-protection#4b383e3b3b24393f0b2c392a253f38652c243d">[email&#160;protected]</a>.
<a href="http://SAM.gov">SAM.gov</a> (Federal Service Desk)... (866) 606-8220 Web form via <a href="https://www.fsd.gov/fsd-gov/login.do">https://www.fsd.gov/fsd-gov/login.do</a>.
------------------------------------------------------------------------

[[Page 19727]]

B. Information Technology Support: 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 its
AMIS internet interface to communicate with Applicants and Award
Recipients under this NOFA. Award Recipients must use AMIS to submit
required reports. The CDFI Fund will notify Award Recipients by email
using the addresses maintained in each Award Recipient's AMIS account.
Therefore, an Award Recipient and any Subsidiaries, signatories, and
Affiliates must maintain accurate contact information (including
contact person and authorized representative, email addresses, fax
numbers, phone numbers, and office addresses) in their AMIS account(s).
D. Civil Rights and Equal Opportunity: Any person who is eligible
to receive benefits or services from the CDFI Fund or its Recipients
under any of its programs is entitled to those benefits or services
without being subjected to prohibited discrimination. The Department of
the Treasury's Office of Civil Rights and Equal Employment Opportunity
enforces various federal statutes and regulations that prohibit
discrimination in financially assisted and conducted programs and
activities of the CDFI Fund. If a person believes that they have been
subjected to discrimination because of their race, color, national
origin, age, sex, disability and/or reprisal, they may file a complaint
with: Director, Office of Civil Rights and Equal Employment
Opportunity, 1500 Pennsylvania Ave. NW, Washington, DC 20220 or by
email at <a href="/cdn-cgi/l/email-protection#c7a4b5a4a8aab7aba6aea9b3b487b3b5a2a6b4b2b5bee9a0a8b1">[email&#160;protected]</a>.

VIII. Other Information

A. Reasonable Accommodations: Requests for reasonable
accommodations under section 504 of the Rehabilitation Act should be
directed to Mr. Jay Santiago, Community Development Financial
Institutions Fund, U.S. Department of the Treasury, at
<a href="/cdn-cgi/l/email-protection#481b29263c21292f2702082b2c2e21663c3a2d293b662f273e">[email&#160;protected]</a> no later than 72 hours in advance of the
application deadline.
B. 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. Pursuant to the Paperwork Reduction Act, the BEA Program
funding Application has been assigned the following control number:
1559-0005.
C. 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, please visit the CDFI Fund's
website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>.
Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part
1806.

Jodie L. Harris,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2023-06827 Filed 3-31-23; 8:45 am]
BILLING CODE 4810-70-P

</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>

View on FederalRegister.gov →Plain-text source

Indexed from Federal Register on April 3, 2023.

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.