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Notice2023-27138

Notice of Funds Availability

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Published

December 11, 2023

Issuing agencies

Treasury DepartmentCommunity Development Financial Institutions Fund

Abstract

Through the CDFI Program, the CDFI Fund provides (i) FA awards of up to $2 million to Certified Community Development Financial Institutions (CDFIs) to build their financial capacity to lend to Eligible Markets and/or their Target Markets, and (ii) TA awards of up to $250,000 to build Certified and Emerging CDFIs' organizational capacity to serve Eligible Markets and/or their Target Markets. All awards provided through this NOFA are subject to funding availability. ---------------------------------------------------------------------------

Full Text

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<title>Federal Register, Volume 88 Issue 236 (Monday, December 11, 2023)</title>
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[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85972-85995]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-27138]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Notice of Funds Availability

Announcement Type: Announcement of funding opportunity.
Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for Financial Assistance (FA) or Technical
Assistance (TA) awards under the Community Development Financial
Institutions Program (CDFI Program) fiscal year (FY) 2024 Funding
Round.
Funding Opportunity Number: CDFI-2024-FATA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.020.

DATES:

Table 1--FY 2024 CDFI Program Funding Round Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time--ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an AMIS January 16, 2024............ 11:59 p.m. ET............... AMIS.
Account (all Applicants).
Last day to enter Employer January 16, 2024............ 11:59 p.m. ET............... AMIS.
Identification Number (EIN) and
Unique Entity Identifier (UEI)
in AMIS (all Applicants).
Last day to submit SF-424 January 16, 2024............ 11:59 p.m. ET............... Electronically via
Mandatory Form (Application for <a href="http://Grants.gov">Grants.gov</a>.
Federal Assistance).
Last day to contact CDFI Program February 13, 2024........... 5:00 p.m. ET................ Service Request
staff. via AMIS Or CDFI
Fund Helpdesk:
202-653-0421.
Last day to contact AMIS-IT Help February 15, 2024........... 5:00 p.m. ET................ Service Request
Desk (regarding AMIS technical via AMIS Or 202-
problems only). 653-0422 Or
<a href="/cdn-cgi/l/email-protection#21606c687261424547480f55534440520f464e57">[email&#160;protected]</a>.
Last day to submit Title VI February 15, 2024........... 11:59 p.m. ET............... AMIS.
Compliance Worksheet (all
Applicants) \1\.
Last day to submit CDFI Program February 15, 2024........... 11:59 p.m. ET............... AMIS.
Application for Financial
Assistance (FA) or Technical
Assistance (TA).
Last day to contact March 1, 2024............... 11:59 p.m. ET............... Service Request
Certification, Compliance \2\ via the
Monitoring and Evaluation Awards Management
(CCME) Help Desk regarding CDFI Information
Certification Application for System (AMIS).
uncertified FA Applicants.
Last day to submit CDFI March 5, 2024............... 11:59 p.m. ET............... AMIS.
Certification Applications for
uncertified FA Applicants.
----------------------------------------------------------------------------------------------------------------

Executive Summary: Through the CDFI Program, the CDFI Fund provides
(i) FA awards of up to $2 million to Certified Community Development
Financial Institutions (CDFIs) to build their financial capacity to
lend to Eligible Markets and/or their Target Markets, and (ii) TA
awards of up to $250,000 to build Certified and Emerging CDFIs'
organizational capacity to serve Eligible Markets and/or their Target
Markets. All awards provided through this NOFA are subject to funding
availability.
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\1\ This requirement also applies to Applicants' prospective
sub-recipients that are not direct beneficiaries of Federal
financial assistance (e.g., Depository Institution Holding Companies
and their Subsidiary CDFI Insured Depository Institutions).
\2\ Service Request shall mean a written inquiry or notification
submitted to the CDFI Fund via AMIS.
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I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development Banking and Financial Institutions Act of 1994 to promote
economic revitalization and community development through investment in
and assistance to CDFIs. The CDFI Program made its first awards in 1996
and the Native American CDFI Assistance (NACA) Program made its first
awards in 2002.
B. Priorities: Through the CDFI Program's FA and TA awards, the
CDFI Fund invests in and builds the capacity of for-profit and non-
profit community based lending organizations known as CDFIs. These
organizations, Certified as CDFIs by the CDFI Fund, serve rural and
urban Low-Income people, and communities across the nation that lack
adequate access to affordable Financial Products and Financial
Services.
C. Authorizing Statutes and Regulations: The CDFI Program is
authorized by the Riegle Community Development Banking and Financial
Institutions Act of 1994 (Pub. L. 103-325, 12 U.S.C. 4701 et seq.)
(Authorizing Statute). The regulations governing the CDFI Program are
found at 12 CFR parts 1805 and 1815 (the Regulations) and set forth
evaluation criteria and other program requirements. The CDFI Fund
encourages Applicants to review the Regulations; this NOFA; the CDFI
Program Application for Financial Assistance or Technical Assistance
(the Application); all related materials and guidance documents found
on the CDFI Fund's website (Application materials); and the Uniform
Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (2 CFR part 1000), which is the Department of the
Treasury's codification of the Office of Management and Budget (OMB)
government-wide framework for grants management at 2 CFR part 200 (the
Uniform Requirements) for a complete understanding of the program.
Capitalized terms in this NOFA are defined in the Authorizing Statute,
the Regulations, this NOFA, the Application, Application materials, or
the Uniform Requirements. Details regarding Application content
requirements are found in the Application and Application materials.

[[Page 85973]]

D. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 1000): The Uniform
Requirements codify financial, administrative, procurement, and program
management standards that Federal award agencies must follow. When
evaluating Applications, awarding agencies must evaluate the risks
posed by each Applicant, and each Applicant's merits and eligibility.
These requirements are designed to ensure that Applicants for Federal
assistance receive a fair and consistent review prior to an award
decision. This review will assess items such as the Applicant's
financial stability, quality of management systems, the soundness of
its business plan, history of performance, ability to achieve
measurable impacts through its products and services, and audit
findings. In addition, the Uniform Requirements include guidance on
audit requirements and other award compliance requirements for
Recipients.
E. Funding limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA.

II. Federal Award Information

A. Funding Availability:
1. FY 2024 Funding Round: Subject to final appropriations, the CDFI
Fund expects to award, through this NOFA, approximately $412 million as
indicated in the following table:

Table 2--FY 2024 Funding Round Anticipated Category Amounts
----------------------------------------------------------------------------------------------------------------
Estimated Award amount
total ------------------------------ Estimated Estimated Average
Funding categories (see amount to number of average amount
definition in Table 7 for TA be awarded awards FY amount to awarded in
or Table 8 for FA) (millions) Minimum \3\ Maximum 2024 be awarded FY 2022
FY 2024 FY 2024
----------------------------------------------------------------------------------------------------------------
Base-FA: Category I/Small and/ $32.0 $125,000....... $1,400,000 48 $667,000 $350,000
or Emerging CDFI Assistance
(SECA).
Base-FA: Category II/Core.... 210.2 $500,000, or if 2,000,000 185 1,136,000 596,000
portfolio
outstanding is
less than
$1,666,700 as
of the most
recent
historic
fiscal year
end, then 30%
of portfolio
outstanding.
Persistent Poverty Counties-- 41.2 $100,000....... 600,000 137 301,000 128,000
Financial Assistance (PPC-
FA).
Disability Funds--Financial 20.0 $100,000....... 1,000,000 20 1,000,000 500,000
Assistance (DF-FA) *.
Healthy Food Financing 48.0 $500,000....... 10,000,000 10 4,800,000 2,875,000
Initiative--Financial
Assistance (HFFI-FA) *.
TA........................... 60.6 $10,000........ 300,000 202 300,000 125,000
----------------------------------------------------------------------------------
Total.................... 412 ............... ........... 602 ........... ............
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* DF-FA and HFFI-FA appropriation will be allocated in one competitive round between the NACA and CDFI Program
NOFAs.

The CDFI Fund reserves the right to award more or less than the
amounts cited above in each category, based upon available funding and
other factors, as appropriate.
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\3\ The FA Application Guidance defines ``the most recent
historic fiscal year'' based on an Applicant's fiscal year end.
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2. Funding Availability for the FY 2024 Funding Round: Funds for
the FY 2024 Funding Round are a combination of appropriations from FY
2023 and FY 2024. FY 2023 funds were appropriated as part of the
Consolidated Appropriations Act, 2023 (Pub. L. 117-328), but FY 2024
funds are subject to change based on passage of a final FY 2024
appropriations bill. If Congress does not appropriate funds for FY
2024, the award estimates set forth above may be reduced. If funds are
appropriated for FY 2024, the amount of such funds may be greater or
less than the amounts set forth above. The CDFI Fund reserves the right
to contact Applicants to seek additional information in the event that
final FY 2024 appropriations for the CDFI Program change any of the
requirements of this NOFA. As of the date of this NOFA, the CDFI Fund
is operating under a continuing funding resolution as enacted by the
Further Continuing Appropriations and Other Extensions Act, 2024 (Pub.
L. 118-22).DF-FA
3. Anticipated Start Date and Period of Performance: The Period of
Performance for TA awards begins with the date of the award
announcement and includes either (i) an Emerging CDFI Recipient's three
full consecutive fiscal years after the date of the award announcement,
or (ii) a Certified CDFI Recipient's two full consecutive fiscal years
after the date of the award announcement, during which the Recipient
must meet the Performance Goals and Measures (PG&Ms) set forth in the
Assistance Agreement. The Period of Performance for FA awards begins
with the date of the award announcement and includes a Recipient's
three full consecutive fiscal years after the date of the award
announcement, during which time the Recipient must meet the PG&Ms set
forth in the Assistance Agreement.
B. Types of Awards: Through the CDFI Program, the CDFI Fund
provides two types of awards: Financial Assistance (FA) and Technical
Assistance (TA) awards. An Applicant may submit an Application for a TA
award or an FA award under the CDFI Program, but not both. FA awards
include the Base Financial Assistance (Base-FA) award and the following
awards that are provided as a supplement to the Base-FA award: Healthy
Food Financing Initiative-Financial Assistance (HFFI-FA), Persistent
Poverty Counties--Financial Assistance (PPC-FA), and Disability Funds--
Financial Assistance (DF-FA). There are two categories of Base-FA
Applicants: Category I (SECA) and Category II (Core) (see definitions
in Table 8). The HFFI-FA, PPC-FA, and DF-FA Applications will be
evaluated independently from the Base-FA Application and will not
affect the Base-FA Application evaluation or Base-FA award amount.
However, Applicants that qualify for the NACA Program may submit two
Applications: one Application (either for a TA award or an FA award,
but not both) through the CDFI Program, and one Application (either for
a TA award or an FA award, but not both) through the NACA Program. NACA
qualified Applicants that choose to apply for awards through

[[Page 85974]]

both the CDFI Program and the NACA Program may either apply for the
same type of award under each Program or for a different type of award
under each Program. NACA qualified FA Applicants that choose to apply
for an FA award under both the NACA Program and CDFI Program and are
selected for an award under both Programs will be provided the FA award
under the CDFI Program. NACA qualified TA Applicants that choose to
apply for a TA award under both the NACA Program and CDFI Program and
are selected for an award under both Programs will be provided the TA
award under the NACA Program. NACA qualified Applicants that choose to
apply for a TA award and an FA award under separate programs and are
selected for an award under both Programs will be provided the larger
of the two awards. NACA Applicants cannot receive an award under both
Programs within the same funding round.
Category II (Core) FA Applicants applying for Base-FA, PPC-FA, and/
or DF-FA must provide evidence of acceptable Matching Funds \4\ (see
Table 9 for more information), except Native American CDFIs \5\
applying under this NOFA, which are exempt from the Matching Funds
requirement.\6\ Native American CDFIs that qualify as a Category II
(Core) FA Applicant are not required to submit Matching Funds for their
award requests. Additionally, the Matching Funds requirement for HFFI-
FA and SECA FA Applicants was waived in the enacted FY 2023
Consolidated Appropriations Act, and the final FY 2024 appropriations
are still pending. Therefore, HFFI-FA and SECA FA Applicants are not
required to submit Matching Funds for their award requests at the time
of Application. However, the CDFI Fund reserves the right to request
Matching Funds from SECA FA Applicants and/or HFFI-FA Applicants if
Matching Funds are not waived in the final FY 2024 CDFI Program
appropriations. TA Applicants are not required to provide Matching
Funds.
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\4\ Matching Funds shall mean funds from sources other than the
federal government as defined in accordance with the CDFI Program
Regulations at 12 CFR 1805.500.
\5\ A Native American CDFI (Native CDFI) is one that Primarily
Serves a Native Community. Primarily Serves is defined as 50% or
more of an Applicant's activities being directed to a Native
Community. For purposes of this NOFA, a Native Community is defined
as Native American, Alaska Native, or Native Hawaiian populations or
Native American areas defined as federally-designated reservations,
Hawaiian homelands, Alaska Native Villages and U.S. Census Bureau-
designated Tribal Statistical Areas.
\6\ The Indian Community Economic Enhancement Act of 2020 (Pub.
L. 116-261) permanently waives the Matching Funds requirement for
Native American CDFIs that receive Assistance from the CDFI Fund.
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1. Base-FA Awards: Base-FA awards can be in the form of loans,
grants, Equity Investments, deposits, and credit union shares. The form
of the Base-FA award is based on the form of the Matching Funds that
the Applicant includes in its Application, unless Congress waived the
Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the Base-FA
award will be in the form of a grant for Native American CDFI
Applicants. Matching Funds are required at the time of Application
submission for Category II (Core) Applicants (except Native American
CDFIs) applying for Base-FA awards, and the CDFI Fund reserves the
right to request Matching Funds from Category I (SECA) Applicants
applying for Base FA awards if Matching Funds are not waived in the
final FY 2024 appropriations for these Applicants. Matching Funds must
be from non-Federal sources, and cannot have been used as Matching
Funds for any other Federal award. The CDFI Fund reserves the right, in
its sole discretion, to provide a Base-FA award in an amount other than
that which the Applicant requests; however, the award amount will not
exceed the Applicant's award request as stated in its Application.
2. Persistent Poverty Counties--Financial Assistance (PPC-FA)
Awards: PPC-FA awards will be provided as a supplement to Base-FA
awards; therefore, only those Applicants that are selected to receive a
Base-FA award through the CDFI Program FY 2024 Funding Round will be
eligible to receive a PPC-FA award. PPC-FA awards can be in the form of
loans, grants, Equity Investment, deposits, and credit union shares.
The form of the PPC-FA award is based on the form of the Matching Funds
that the Applicant includes in its Application, unless Congress waived
the Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the PPC-FA
award will be in the form of a grant for Native American CDFI
Applicants. Matching Funds are required at the time of Application
submission for Category II (Core) Applicants (except Native American
CDFIs) applying for PPC-FA awards, and the CDFI Fund reserves the right
to request Matching Funds from Category I (SECA) Applicants applying
for PPC-FA awards if Matching Funds are not waived in the final FY 2024
appropriations for these Applicants. Matching Funds must be from non-
Federal sources, and cannot have been used as Matching Funds for any
other Federal award. The CDFI Fund reserves the right, in its sole
discretion, to provide a PPC-FA award in an amount other than that
which the Applicant requests; however, the award amount will not exceed
the Applicant's award request as stated in its Application.
3. Disability Funds--Financial Assistance (DF-FA) Awards: DF-FA
awards will be provided as a supplement to Base-FA awards; therefore,
only those Applicants that have been selected to receive a Base-FA
award through the CDFI Program FY 2024 Funding Round will be eligible
to receive a DF-FA award. DF-FA awards can be in the form of loans,
grants, Equity Investments, deposits, and credit union shares. The form
of the DF-FA award is based on the form of the Matching Funds that the
Applicant includes in its Application unless Congress waived the
Matching Funds requirement. The Matching Funds requirement was
permanently waived for Native American CDFIs. Therefore, the DF-FA
award will be in the form of a grant to Native American CDFI
Applicants. Matching Funds are required for Category II (Core)
Applicants (except Native American CDFIs) applying for DF-FA awards,
and the CDFI Fund reserves the right to request Matching Funds from
Category I (SECA) Applicants applying for PPC-FA awards if Matching
Funds are not waived in the final FY 2024 appropriations for these
Applicants. Matching Funds must be from non-Federal sources and cannot
have been used as Matching Funds for any other Federal award. The CDFI
Fund reserves the right, in its sole discretion, to provide a DF-FA
award in an amount other than that which the Applicant requests;
however, the award amount will not exceed the Applicant's award request
as stated in its Application.
4. Healthy Food Financing Initiative--Financial Assistance (HFFI-
FA) Awards: HFFI-FA awards will be provided as a supplement to Base-FA
awards; therefore, only those Applicants that have been selected to
receive a Base-FA award through the CDFI Program FY 2024 Funding Round
will be eligible to receive an HFFI-FA award. HFFI-FA awards can be in
the form of loans, grants, Equity Investments, deposits, and credit
union shares. The form of the HFFI-FA award is based on the form of the
Matching Funds that the Applicant includes in its Application unless
Congress waived the Matching Funds requirement. The

[[Page 85975]]

Matching Funds requirement was permanently waived for Native American
CDFIs. Therefore, HFFI-FA awards will be in the form of a grant to
Native American CDFI Applicants. The Matching Funds requirement for
HFFI-FA Applicants was waived in the final appropriations bill for FY
2023, and the final FY 2024 appropriations are still pending. As a
result, HFFI-FA Applicants are not required to submit Matching Funds
for their award requests at the time of Application. However, the CDFI
Fund reserves the right to request Matching Funds from HFFI-FA
Applicants if Matching Funds are not waived in the final FY 2024 CDFI
Program appropriations. The CDFI Fund reserves the right, in its sole
discretion, to provide an HFFI-FA award in an amount other than that
which the Applicant requests; however, the award amount will not exceed
the Applicant's award request as stated in its Application.
5. TA Awards: TA is provided in the form of grants. The CDFI Fund
reserves the right, in its sole discretion, to provide a TA award in an
amount other than that which the Applicant requests; however, the TA
award amount will not exceed the Applicant's request as stated in its
Application.
C. Eligible Activities:
1. FA Awards: Base-FA, PPC-FA, DF-FA, and HFFI-FA award funds may
be expended for activities serving Commercial Real Estate, Small
Business, Microenterprise, Community Facilities, Consumer Financial
Products, Consumer Financial Services, Commercial Financial Products,
Commercial Financial Services, Affordable Housing, Intermediary Lending
to Non-Profits and CDFIs, Climate-Centered Financing, and other lines
of business as deemed appropriate by the CDFI Fund in the following
five categories: (i) Financial Products; (ii) Financial Services; (iii)
Loan Loss Reserves; (iv) Development Services; \7\ and (v) Capital
Reserves. The FA Budget is the amount of the award and must be expended
in the five eligible activity categories prior to the end of the Budget
Period.\8\ None of the eligible activity categories will be authorized
for Indirect Costs or an associated Indirect Cost Rate. Base-FA
Recipients must meet PG&Ms, which will be derived from projections and
attestations provided by the Applicant in its Application, to achieve
one of the following FA Objectives: (i) Increase Volume of Financial
Products in an Eligible Market(s) and/or in the Applicant's approved
Target Market and/or Increase Volume of Financial Services in an
Eligible Market(s) and/or in the Applicant's approved Target Market;
(ii) Serve Eligible Market(s) or the Applicant's approved Target Market
in New Geographic Area or Areas; (iii) Provide New Financial Products
in an Eligible Market(s) and/or in the Applicant's approved Target
Market; and (iv) Serve New Targeted Population or Populations. FA
awards may only be used for Direct Costs associated with an eligible
activity; no indirect expenses are allowed. Up to 15% of the FA award
may be used for Direct Administrative Expenses associated with an
eligible FA activity. ``Direct Administrative Expenses'' shall mean
Direct Costs, as described in section 2 CFR 200.413 of the Uniform
Requirements, which are incurred by the Recipient to carry out the
Financial Assistance. Direct Costs incurred to provide Development
Services or Financial Services do not constitute Direct Administrative
Expenses.
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\7\ Although some financial education for youth under 18 years
old do not fall under the definition of Development Services and
thus is not eligible to support Certification, the CDFI Fund allows
FA award funds to be used to provide such financial education.
Financial education for youth means education designed to prepare
youth to engage with the financial system. This includes accessing
Financial Products when they are legally able to and accessing
Financial Services offered by the Applicant or a third party.
\8\ Budget Period means the time interval from the start date of
a funded portion of an award to the end date of that funded portion
during which Recipients are authorized to expend the funds awarded.
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The Recipient must comply, as applicable, with the Buy American Act
of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the Uniform
Requirements,\9\ with respect to any Direct Costs. For purposes of this
NOFA, the five eligible activity categories are defined in Table 3.
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\9\ Sec. 200.216 Prohibition on certain telecommunications and
video surveillance services or equipment.
(a) Recipients and Subrecipients are prohibited from obligating
or expending loan or grant funds to:
(1) Procure or obtain;
(2) Extend or renew a contract to procure or obtain; or
(3) Enter into a contract (or extend or renew a contract) to
procure or obtain, equipment, services, or systems that uses covered
telecommunications equipment or services as a substantial or
essential component of any system, or as critical technology as part
of any system. As described in Public Law 115-232, section 889,
covered telecommunications equipment is telecommunications equipment
produced by Huawei Technologies Company or ZTE Corporation (or any
Subsidiary or Affiliate of such entities).

Table 3--Base-FA, PPC-FA, DF-FA, and HFFI-FA Eligible Activity Categories
----------------------------------------------------------------------------------------------------------------
Eligible CDFI institution
FA eligible activity FA eligible activity definition * types
----------------------------------------------------------------------------------------------------------------
i. Financial Products................ FA expended as loans, Equity Investments, All.
and similar financing activities (as
determined by the CDFI Fund) including the
purchase of loans originated by Certified
CDFIs and the provision of loan
guarantees. In the case of CDFI
Intermediaries, Financial Products may
also include loans to CDFIs and/or
Emerging CDFIs, and deposits in Insured
Credit Union CDFIs, Emerging Insured
Credit Union CDFIs, and/or State-Insured
Credit Union CDFIs.
For HFFI-FA, however, financing for
prepared food outlets are not eligible
activities, including the purchase of
loans originated by Certified CDFIs, loan
refinancing, or any other type of
financing for prepared food outlets.
ii. Financial Services............... FA expended for providing checking, savings Regulated Institutions \10\
accounts, check cashing, money orders, only.
certified checks, automated teller Not applicable for HFFI-FA
machines, deposit taking, safe deposit box Recipients.
services, and other similar services.
iii. Loan Loss Reserves.............. FA set aside in the form of cash reserves, All.
or through accounting-based accrual
reserves, to cover losses on loans,
accounts, and notes receivable or for
related purposes that the CDFI Fund deems
appropriate.
iv. Development Services............. FA expended for activities undertaken by a All.
CDFI, its Affiliate or contractor that (i)
promote community development and (ii)
prepare or assist current or potential
borrowers or investees to use the CDFI's
Financial Products or Financial Services.
For example, such activities include
financial or credit counseling;
homeownership counseling; business
planning; and management assistance.

[[Page 85976]]

v. Capital Reserves.................. FA set aside as reserves to support the Regulated Institutions only.
Applicant's ability to leverage other Not applicable for DF-FA.
capital, for such purposes as increasing
its net assets or providing financing, or
for related purposes as the CDFI Fund
deems appropriate.
----------------------------------------------------------------------------------------------------------------
* All FA eligible activities must be in an Eligible Market or the Applicant's approved Target Market. Eligible
Market is defined as (i) a geographic area meeting the requirements set forth in 12 CFR 1805.201(b)(3)(ii), or
(ii) individuals that are Low-Income, African American, Hispanic, Native American, Native Hawaiian, Alaska
Native, Other Pacific Islander, Filipino, Vietnamese, or Persons with Disabilities.

2. DF-FA Award: DF-FA award funds may only be expended for eligible
FA activities (referenced in Table 3) to directly or indirectly benefit
individuals with disabilities. The DF-FA Recipient must close Financial
Products for the primary purpose of directly or indirectly benefiting
people with disabilities, where the majority of the DF-FA supported
loans or investments benefit individuals with disabilities, in an
amount equal to or greater than 85% of the total DF-FA provided.
Eligible DF-FA financing activities may include, among other
activities, loans to develop or purchase affordable, accessible, and
safe housing; loans to provide or facilitate employment opportunities;
and loans to purchase assistive technology.
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\10\ Regulated Institutions include Insured Credit Unions,
Insured Depository Institutions, State-Insured Credit Unions and
Depository Institution Holding Companies.
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For the purposes of DF-FA, a person with a disability is a person
who has a physical or mental impairment that substantially limits one
or more major life activities, a person who has a record of such an
impairment, or a person who is regarded as having such an impairment,
as defined by the Americans with Disabilities Act (ADA), 42 U.S.C.
12102.
3. HFFI-FA Award: HFFI-FA award funds may only be expended for
eligible FA activities referenced in Table 3. The HFFI-FA investments
must comply with the following guidelines:
a. Recipient must close Financial Products for Healthy Food Retail
Outlets and Healthy Food Non-Retail Outlets in its approved Target
Market in an amount equal to or greater than 100% of the total HFFI
Financial Assistance provided. Eligible financing activities to Healthy
Food Retail Outlets and Healthy Food Non-Retail Outlets require that
the majority of the loan or investment be devoted to offering a range
of Healthy Food choices, which may include, among other activities,
investments supporting an existing retail store or wholesale operation
upgrade to offer an expanded range of Healthy Food choices, or
supporting a nonprofit organization that expands the availability of
Healthy Foods in underserved areas.
b. Recipient must demonstrate that it has closed Financial Products
to Healthy Food Retail Outlets located in Food Deserts in the
Recipient's approved Target Market in an amount equal to 75% of the
total HFFI Financial Assistance provided.
Definitions:
Healthy Foods: Healthy Foods include unprepared nutrient-dense
foods and beverages as set forth in the USDA Dietary Guidelines for
Americans 2020-2025 including whole fruits and vegetables, whole
grains, fat free or low-fat dairy foods, lean meats and poultry (fresh,
refrigerated, frozen or canned). Healthy Foods should have low or no
added sugars, and be low-sodium, reduced sodium, or no-salt-added. (See
USDA Dietary Guidelines: <a href="http://www.dietaryguidelines.gov">http://www.dietaryguidelines.gov</a>).
Healthy Food Retail Outlets: Commercial sellers of Healthy Foods
including, but not limited to, grocery stores, mobile food retailers,
farmers markets, retail cooperatives, corner stores, bodegas, stores
that sell other food and non-food items along with a range of Healthy
Foods.
Healthy Food Non-Retail Outlets: Wholesalers of Healthy Foods
including, but not limited to, wholesale food outlets, wholesale
cooperatives, or other non-retail food producers that supply for sale a
range of Healthy Food options; entities that produce or distribute
Healthy Foods for eventual retail sale, and entities that provide
consumer education regarding the consumption of Healthy Foods.
Food Deserts: Distressed geographic areas where either a
substantial number or share of residents has low access to a
supermarket or large grocery store. For the purpose of satisfying this
requirement, a Food Desert must either: (1) be a census tract
determined to be a Food Desert by the U.S. Department of Agriculture
(USDA), in its USDA Food Access Research Atlas; (2) be a census tract
adjacent to a census tract determined to be a Food Desert by the USDA,
in its USDA Food Access Research Atlas; which has a median family
income less than or equal to 120% of the applicable Area Median Family
Income; or (3) be a Geographic Unit as defined in 12 CFR part
1805.201(b)(3)(ii)(B), which (i) individually meets at least one of the
criteria in 12 CFR part 1805.201(b)(3)(ii)(D), and (ii) has been
identified as having low access to a supermarket or grocery store
through a methodology that has been adopted for use by another
governmental or philanthropic healthy food initiative.
4. PPC-FA Award: PPC-FA award funds may only be expended for
eligible FA activities referenced in Table 3. The PPC-FA Recipient must
close Financial Products in PPC: (1) in an Eligible Market or in the
Applicant's approved Target Market and (2) in an amount equal to or
greater than 100% of the total PPC-FA award. The specific counties that
meet the criteria for ``persistent poverty'' can be found 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>.
5. TA Awards: TA award funds may be expended for the following
seven eligible activity categories: (i) Compensation--Personal
Services; (ii) Compensation--Fringe Benefits; (iii) Professional
Service Costs; (iv) Travel Costs; (v) Training and Education Costs;
(vi) Equipment; and (vii) Supplies. The TA Budget is the amount of the
award and must be expended in the seven eligible activity categories
before the end of the Budget Period. None of the eligible activity
categories will be authorized for Indirect Costs or an associated
Indirect Cost Rate. Any expenses that are prohibited by the Uniform
Requirements are unallowable and are generally found in Subpart E-Cost
Principles. The Recipient must comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of
the Uniform Requirements, with respect to any Direct Costs. For
purposes of this NOFA, the seven eligible activity categories are
defined in Table 4.

[[Page 85977]]

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

------------------------------------------------------------------------
(i) Compensation--Personal TA paid to cover all remuneration,
Services. paid currently or accrued, for
services of Applicant's employees
rendered during the Period of
Performance under the TA award in
accordance with section 2 CFR
200.430 of the Uniform
Requirements, is allowed.
Any work performed directly but
unrelated to the purposes of the TA
award may not be paid as
Compensation through a TA award.
For example, the salaries for
building maintenance would not
carry out the purpose of a TA award
and would be deemed unallowable.
(ii) Compensation--Fringe Benefits TA paid to cover allowances and
services provided by the Applicant
to its employees as Compensation in
addition to regular salaries and
wages, in accordance with section 2
CFR 200.431 of the Uniform
Requirements, is allowed. Such
expenditures are allowable as long
as they are made under formally
established and consistently
applied organizational policies of
the Applicant.
(iii) Professional Service Costs.. TA paid to cover professional and
consultant services (e.g., such as
strategic and marketing plan
development), rendered by persons
who are members of a particular
profession or possess a special
skill (e.g., credit analysis,
portfolio management), and who are
not officers or employees of the
Applicant, in accordance with
section 2 CFR 200.459 of the
Uniform Requirements, is allowed.
Payment for a consultant's services
may not exceed the current maximum
of the daily equivalent rate paid
to an Executive Schedule Level IV
federal employee. Professional and
consultant services must build the
capacity of the CDFI. For example,
professional services that provide
direct Development Services to the
customers do not build the capacity
of the CDFI to provide those
services and would not be eligible.
The Applicant must comply, as
applicable, with section 2 CFR
200.216 of the Uniform
Requirements, with respect to
payment of Professional Service
Costs.
(iv) Travel Costs................. TA paid to cover costs of
transportation, lodging,
subsistence, and related items
incurred by the Applicant's
personnel who are on travel status
on business related to the TA
award, in accordance with section 2
CFR 200.475 of the Uniform
Requirements, is allowed. Travel
Costs do not include costs incurred
by the Applicant's consultants who
are on travel status. Any payments
for travel expenses incurred by the
Applicant's personnel but unrelated
to carrying out the purpose of the
TA award would be deemed
unallowable. As such, documentation
must be maintained that justifies
the travel as necessary to the TA
award.
(v) Training and Education Costs.. TA paid to cover the cost of
training and education provided by
the Applicant for employees'
development in accordance with
section 2 CFR 200.473 of the
Uniform Requirements, is allowed.
TA can only be used to pay for
training costs incurred by the
Applicant's employees. Training and
Education Costs may not be incurred
by the Applicant's consultants.
(vi) Equipment.................... TA paid to cover tangible personal
property, having a useful life of
more than one year and a per-unit
acquisition cost of at least
$5,000, in accordance with section
2 CFR 200.1 of the Uniform
Requirements, is allowed. For
example, items such as office
furnishings and information
technology systems are allowable as
Equipment costs. The Applicant must
comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C.
8301-8303 and section 2 CFR 200.216
of the Uniform Requirements, with
respect to the purchase of
Equipment.
(vii) Supplies.................... TA paid to cover tangible personal
property with a per unit
acquisition cost of less than
$5,000, in accordance with section
2 CFR 200.1 of the Uniform
Requirements, is allowed. For
example, a desktop computer costing
$1,000 is allowable as a Supply
cost. The Applicant must comply, as
applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303
and section 2 CFR 200.216 of the
Uniform Requirements, with respect
to the purchase of Supplies.
------------------------------------------------------------------------

III. Eligibility Information

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

\11\ Depository Institution Holding Company or DIHC means a Bank
Holding Company or a Savings and Loan Holding Company.

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

------------------------------------------------------------------------
Certified CDFI.................... An entity that the CDFI Fund has
officially notified that it meets
all CDFI Certification
requirements.
Certifiable CDFI (FA Applicants).. <bullet> An FA Applicant that has
submitted a CDFI Certification
Application to the CDFI Fund by the
deadline specified in this NOFA
demonstrating that it meets the
CDFI Certification requirements but
has not yet been officially
Certified. (See Table 12 for
Application submission deadlines.)
<bullet> The CDFI Fund will not
enter into an Assistance Agreement
unless the Applicant's pending CDFI
Certification Application is
approved by the CDFI Fund prior to
the award announcement date. The
CDFI Fund will make CDFI
Certification determinations for
all Applicants that are Certifiable
CDFIs prior to the award
announcement date. If the CDFI
Certification Application is
denied, the Applicant will not be
eligible to receive an FA award.
There is no right to appeal an
Award denial based on denial of the
pending CDFI Certification
Application.
Emerging CDFI (TA Applicants)..... <bullet> A non-Certified entity that
demonstrates to the CDFI Fund in
its Application that it has an
acceptable plan to meet CDFI
Certification requirements by the
end of its Period of Performance,
or another date that the CDFI Fund
selects.
<bullet> An Emerging CDFI may or may
not have a pending CDFI
Certification Application with the
CDFI Fund.
<bullet> An Emerging CDFI that has
prior award(s) must comply with
CDFI Certification PG&M(s) stated
in its prior Assistance
Agreement(s).
<bullet> An Emerging CDFI selected
to receive a TA award will be
required to become a Certified CDFI
by a date specified in the
Assistance Agreement.
------------------------------------------------------------------------

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

------------------------------------------------------------------------
Applicant......................... <bullet> An Applicant must be duly
organized as a legal entity (within
the United States or its
territories).
<bullet> Only the entity that will
carry out the proposed award
activities may apply for an award
(other than Depository Institution
Holding Companies (DIHC) \11\--see
below). Recipients may not create a
new legal entity to carry out the
proposed award activities.
<bullet> The information in the
Application should only reflect the
activities of the Applicant,
including the presentation of
financial and portfolio information
(other than DIHCs-see below). Do
not include financial or portfolio
information from parent companies,
Affiliates, or Subsidiaries in the
Application unless it relates to
the provision of Development
Services.

[[Page 85978]]

<bullet> An Applicant that applies
on behalf of another organization
will be rejected without further
consideration, other than DIHCs
(see below).
Application type and submission <bullet> Applicants must submit the
overview through <a href="http://Grants.gov">Grants.gov</a> and Required Application Documents
Awards Management Information listed in Table 10.
System (AMIS). <bullet> The CDFI Fund will only
accept Applications that use the
official Application templates
provided on the <a href="http://Grants.gov">Grants.gov</a> and AMIS
websites. Applications submitted
with alternative or altered
templates will not be considered.
<bullet> Applicants undergo a two-
step process that requires the
submission of Application documents
by two separate deadlines in two
different systems: (1) the SF-424
in <a href="http://Grants.gov">Grants.gov</a> and (2) all other
Required Application Documents in
AMIS.
<bullet> <a href="http://Grants.gov">Grants.gov</a> and the SF-424:
[cir] <a href="http://Grants.gov">Grants.gov</a>: Applicants must
submit the Standard Form (SF) SF-
424, Application for Federal
Assistance.
[cir] All Applicants must
register in the <a href="http://Grants.gov">Grants.gov</a>
system to successfully submit an
Application. The <a href="http://Grants.gov">Grants.gov</a>
registration process can take 30
days or more to complete. The
CDFI Fund strongly encourages
Applicants to register as early
as possible.
[cir] The CDFI Fund will not
extend the SF-424 application
deadline for any Applicant that
started the <a href="http://Grants.gov">Grants.gov</a>
registration process on, before,
or after the date of the
publication of this NOFA, but
did not complete it by the
deadline except in the case of a
federal government
administrative or technological
error that directly resulted in
a late submission of the SF-424.
[cir] The SF-424 must be
submitted in <a href="http://Grants.gov">Grants.gov</a> on or
before the deadline listed in
Table 1 and Table 12. Applicants
are strongly encouraged to
submit their SF-424 as early as
possible in the <a href="http://Grants.gov">Grants.gov</a>
system.
[cir] The deadline for the
<a href="http://Grants.gov">Grants.gov</a> submission is before
the AMIS submission deadline.
[cir] The SF-424 must be
submitted under the CDFI Program
Funding Opportunity Number for
the CDFI Program Application.
CDFI Program Applicants should
be careful to not select the
NACA Program Funding Opportunity
Number when submitting their SF-
424 for the CDFI Program. CDFI
Program Applicants that submit
their SF-424 for the CDFI
Program Application under the
NACA Program Funding Opportunity
Number will be deemed ineligible
for the CDFI Program
Application.
[cir] If the SF-424 is not
accepted by <a href="http://Grants.gov">Grants.gov</a> by the
deadline, the CDFI Fund will not
review any material submitted in
AMIS and the Application will be
deemed ineligible.
<bullet> AMIS and all other Required
Application Documents listed in
Table 10:
[cir] AMIS is an enterprise-wide
information technology system.
Applicants will use AMIS to
submit and store organization
and Application information with
the CDFI Fund.
[cir] Applicants are only allowed
one CDFI Program Application
submission in AMIS.
o Each Application in AMIS must be
signed by an Authorized
Representative.
[cir] Applicants must ensure that
the Authorized Representative is
an employee or officer of the
Applicant, authorized to sign
legal documents on behalf of the
organization. Consultants
working on behalf of the
organization may not be
designated as Authorized
Representatives.
[cir] Only the Authorized
Representative or Application
Point of Contact, included in
the Application, may submit the
Application in AMIS.
[cir] All Required Application
Documents must be submitted in
AMIS on or before the deadline
specified in Tables 1 and 12.
The CDFI Fund will not extend
the deadline for any Applicant
except in the case of a federal
government administrative or
technological error that
directly resulted in the late
submission of the Application in
AMIS.
Employer Identification Number <bullet> Applicants must have a
(EIN). unique EIN assigned by the Internal
Revenue Service (IRS).
<bullet> The CDFI Fund will reject
an Application submitted with the
EIN of a parent or Affiliate
organization.
<bullet> The EIN in the Applicant's
AMIS account must match the EIN in
the Applicant's System for Award
Management (SAM) account. The CDFI
Fund reserves the right to reject
an Application if the EIN in the
Applicant's AMIS account does not
match the EIN in its SAM account.
<bullet> Applicants must enter their
EIN into their AMIS profile on or
before the deadline specified in
Tables 1 and 12.
Unique Entity Identifier (UEI).... <bullet> The transition from the Dun
and Bradstreet Universal Numbering
System (DUNS) to UEI is a federal,
government-wide initiative.
<bullet> An Applicant must apply
using its UEI in <a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund will reject
an Application submitted with the
UEI of a parent or Affiliate
organization.
<bullet> The UEI in the Applicant's
AMIS account must match the UEI in
the Applicant's <a href="http://Grants.gov">Grants.gov</a> and SAM
accounts. The CDFI Fund will reject
an Application if the UEI in the
Applicant's AMIS account does not
match the UEI in its <a href="http://Grants.gov">Grants.gov</a> and
SAM accounts.
<bullet> Applicants must enter their
UEI into their AMIS profile on or
before the deadline specified in
Tables 1 and 12.
System for Award Management (SAM). <bullet> SAM is a web-based,
government-wide application that
collects, validates, stores, and
disseminates business information
about the federal government's
trading partners in support of the
contract awards, grants, and
electronic payment processes.
<bullet> Applicants must register in
SAM as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process.
<bullet> Applicants that have an
active SAM registration have been
assigned a UEI. Applicants must
also have an EIN in order to
register in SAM.
<bullet> Applicants must be
registered in SAM in order to
submit an SF-424 in <a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund reserves the
right to deem an Application
ineligible if the Applicant's SAM
account expires during the
Application evaluation period, or
is set to expire before September
30, 2024, and the Applicant does
not re-activate, or renew, as
applicable, the account within the
deadlines that the CDFI Fund
communicates to affected Applicants
during the Application evaluation
period.
AMIS Account...................... <bullet> Each Applicant must
register as an organization in AMIS
and submit all Required Application
Documents listed in Table 10
through the AMIS system.
<bullet> The Application of any
organization that does not properly
register in AMIS by the deadline
set forth in Table 1--FY 2024 CDFI
Program Funding Round Critical
Deadlines for Applicants--will be
rejected without further
consideration.
<bullet> The Authorized
Representative and/or Application
Point of Contact must be included
as ``users'' in the Applicant's
AMIS account.
<bullet> An Applicant that fails to
properly register and update its
AMIS account may miss important
communication from the CDFI Fund
and/or may not be able to
successfully submit an Application.
501(c)(4) status.................. <bullet> Pursuant to 2 U.S.C. 1611,
any 501(c)(4) organization that
engages in lobbying activities is
not eligible to receive a CDFI or
NACA Program award.
Compliance with Nondiscrimination <bullet> An Applicant * may not be
and Equal Opportunity Statutes, eligible to receive an award if
Regulations, and Executive Orders. proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination has been issued
within the time period beginning
three years prior to the
publication of this NOFA until the
execution of the Assistance
Agreement that indicates the
Applicant has violated any federal
civil rights laws or regulations,
including: Title VI of the Civil
Rights Act of 1964, as amended (42
U.S.C. 2000d); the Fair Housing Act
(42 U.S.C. 3601 et seq.); the Equal
Credit Opportunity Act (15 U.S.C.
1691 et seq.); Section 504 of the
Rehabilitation Act of 1973 (29
U.S.C. 794); and the Age
Discrimination Act of 1975, (42
U.S.C. 6101-6107).

[[Page 85979]]

<bullet> Applicants * will be
required to submit the Title VI
Compliance Worksheet (Worksheet)
once annually to assist the CDFI
Fund in determining whether
Applicants are compliant with the
Treasury regulations implementing
Title VI of the Civil Rights Act
(Title VI), set forth in 31 CFR
part 22. These requirements are set
forth in the United States
Department of the Treasury
regulations implementing Title VI
located in 31 CFR part 22,
Nondiscrimination on the Basis of
Race, Color, or National Origin in
Programs or Activities Receiving
Federal Financial Assistance from
the Department of the Treasury.
<bullet> In addition, an Applicant*
must be compliant with federal
civil rights requirements in order
to be deemed eligible to receive an
award from the CDFI Fund. The CDFI
Fund will consider an Application
submitted by an Applicant that has
pending Title VI noncompliance
issues, if the CDFI Fund has not
yet made a final compliance
determination.
<bullet> The Title VI Compliance
Worksheet and program award terms
and conditions do not impose
antidiscrimination requirements on
Tribal governments beyond what
would otherwise apply under federal
law.
Depository Institution Holding <bullet> In the case where a CDFI
Company Applicant. Depository Institution Holding
Company Applicant intends to carry
out the activities of an award
through its Subsidiary CDFI Insured
Depository Institution, the
Application must be submitted by
the CDFI Depository Institution
Holding Company and reflect the
activities and financial
performance of the Subsidiary CDFI
Insured Depository Institution.
<bullet> If a Depository Institution
Holding Company and its Certified
CDFI Subsidiary Insured Depository
Institution (through which it will
carry out the activities of the
award) both apply for an award
under this NOFA, only the
Depository Institution Holding
Company will receive an award, not
both. In such instances, the
Subsidiary Insured Depository
Institution will be deemed
ineligible.
<bullet> Authorized Representatives
of both the Depository Institution
Holding Company and the Subsidiary
CDFI Insured Depository Institution
must certify that the information
included in the Application
represents that of the Subsidiary
CDFI Insured Depository
Institution, and that the award
funds will be used to support the
Subsidiary CDFI Insured Depository
Institution for the eligible
activities outlined in the
Application.
Use of award...................... <bullet> All awards made through
this NOFA must be used to support
the Applicant's activities in at
least one of the FA or TA Eligible
Activity Categories (see Section
II. (C)).
<bullet> With the exception of
Depository Institution Holding
Company Applicants, awards may not
be used to support the activities
of, or otherwise be passed through,
transferred, or co-awarded to,
third-party entities, whether
Affiliates, Subsidiaries, or
others, unless done pursuant to a
merger or acquisition or similar
transaction, and with the CDFI
Fund's prior written consent. The
Recipient of any award made through
this NOFA must comply, as
applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303
and section 2 CFR 200.216 of the
Uniform Requirements, with respect
to any Direct Costs.
Requested award amount............ <bullet> An Applicant must state its
requested award amount in the
Application in AMIS. An Applicant
that does not include this amount
will not be allowed to submit an
Application.
Pending resolution of <bullet> If an Applicant that is a
noncompliance. prior Recipient or allocatee under
any CDFI Fund program: (i) has
demonstrated it has been in
noncompliance and/or default with a
previous Assistance Agreement,
Award Agreement, Allocation
Agreement, bond loan agreement, or
agreement to guarantee and (ii) the
CDFI Fund has yet to make a final
determination as to whether the
entity is in noncompliance with or
default of its previous agreement,
the CDFI Fund will consider the
Applicant's Application under this
NOFA pending full resolution, in
the sole determination of the CDFI
Fund, of the noncompliance and/or
default.
Noncompliance or default status... <bullet> The CDFI Fund will not
consider an Application submitted
by an Applicant that is a prior
CDFI Fund award recipient or
allocatee under any CDFI Fund
program if, as of the AMIS
Application deadline in this NOFA,
(i) the CDFI Fund has made a final
determination in writing that such
Applicant is in noncompliance with
or default of a previously executed
Assistance Agreement, Award
Agreement, Allocation Agreement,
bond loan agreement, or agreement
to guarantee, and (ii) the CDFI
Fund has provided written
notification that such entity is
ineligible to apply for or receive
any future CDFI Fund awards or
allocations. Such entities will be
ineligible to submit an Application
for such time period as specified
by the CDFI Fund in writing. The
CDFI Fund will not consider any
Applicant that has defaulted on a
loan from the CDFI Fund within five
years of the Application deadline.
Debarment/Do Not Pay Verification. <bullet> The CDFI Fund will conduct
a debarment check and will not
consider an Application submitted
by an Applicant (or Affiliate of an
Applicant) if the Applicant is
delinquent on any Federal debt.
<bullet> The Do Not Pay Business
Center was developed to support
federal agencies in their efforts
to reduce the number of improper
payments made through programs
funded by the federal government.
The Do Not Pay Business Center
provides delinquency information to
the CDFI Fund to assist with the
debarment check.
------------------------------------------------------------------------
* This requirement also applies to Applicants' prospective sub-
recipients that are not direct beneficiaries of Federal financial
assistance (e.g., Depository Institutions Holding Companies and their
Subsidiary CDFI Insured Depository Institutions).

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

------------------------------------------------------------------------
CDFI Certification status......... (1) Emerging CDFIs (see definition
in Table 5), or
(2) Certified CDFIs (see Table 5)
that meet the following SECA
Applicant criteria:
(a) Have total assets as of the
end of the Applicant's most
recent historic fiscal year \12\
in accordance with the FA
Application Guidance (as stated
in the Applicant's AMIS account
and verified by internally
prepared financial statements
and/or audits) in the following
amounts:
<bullet> Insured Depository
Institutions and Depository
Institution Holding Companies:
up to $250 million;
<bullet> Insured Credit Unions and
State-Insured Credit Unions: up to
$100 million;
<bullet> Venture Capital Funds
**: up to $5 million;
<bullet> Other CDFIs: up to $5
million;
OR
(b) Have begun operations (as
indicated by the financing
activity start date field in the
Applicant's AMIS account) on or
after January 1, 2020.
If a TA Applicant is a Certified
CDFI at the time of application,
but loses its CDFI Certification at
any point prior to the award
announcement, the Application will
be deemed ineligible and no longer
be considered by the CDFI Fund.
Matching Funds.................... <bullet> Matching Funds
documentation is not required for
TA awards.
Limitation on Awards.............. <bullet> An Emerging CDFI may not
receive more than three TA awards
as an uncertified CDFI.
$5 Million funding cap............ <bullet> The CDFI Fund is prohibited
from obligating more than $5
million in CDFI and NACA Program
awards, in the aggregate, to any
one organization and its
Subsidiaries and Affiliates during
any three-year period from the
announcement date.
<bullet> The CDFI Fund will include
CDFI and NACA Program final awards
in the cap calculation that were
provided to an Applicant (and/or
its Subsidiaries or Affiliates)
under the FY 2022 funding round, as
well as the requested FY 2024
award, excluding DF-FA and HFFI-FA
awards.

[[Page 85980]]

Proposed Activities............... <bullet> Applicants must propose to
directly undertake eligible
activities with TA awards. For
example, an uncertified CDFI
Applicant must propose to become
Certified as part of its
Application and a Certified CDFI
Applicant must propose activities
that build its capacity to serve
its Target Market or an Eligible
Market.
<bullet> Applicants may not propose
to use a TA award to create a
separate legal entity to become a
Certified CDFI or otherwise carry
out the TA award activities.
Regulated Institution............. <bullet> Each Regulated Institution
TA Applicant must have a CAMELS/
CAMEL rating (rating for Insured
Depository Institutions and Credit
Unions, respectively) or equivalent
type of rating by its regulator
(collectively referred to as
``CAMELS/CAMEL rating'') of at
least ``4''.
<bullet> TA Applicants with CAMELS/
CAMEL ratings of ``5'' will not be
eligible for awards.
<bullet> The CDFI Fund will not
approve a TA award for an Applicant
that has a Community Reinvestment
Act (CRA) assessment rating of
below ``Satisfactory'' on its most
recent examination.
<bullet> In the case of a Depository
Institution Holding Company
Applicant that intends to carry out
the award through a Subsidiary
Insured Depository Institution, the
CAMELS/CAMEL rating eligibility
requirements noted above apply to
both the Depository Institution
Holding Company Applicant, as well
as the Subsidiary Insured
Depository Institution.
<bullet> The CDFI Fund will also
evaluate material concerns
identified by the Appropriate
Federal Banking Agency in
determining the eligibility of
Regulated Institution Applicants.
------------------------------------------------------------------------
** A Venture Capital Fund is an organization that predominantly invests
funds in businesses, typically in the form of either Equity
Investments or subordinated debt with equity features such as a
revenue participation or warrants, and generally seeks to participate
in the upside returns of such businesses in an effort to at least
partially offset the risk of its investments.

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

\12\ For the purposes of this NOFA, an Applicant's most recent
historic fiscal year end is determined as follows:
(A) Applicants with a 3/31 fiscal year end date will treat FY
2023 as their most recent historic fiscal year and FY 2024 as their
current year.
(B) Applicants with a 6/30 fiscal year end date and a completed
FY 2023 audit will treat FY 2023 as their most recent historic
fiscal year and FY 2024 as their current year.
(C) Applicants with a 6/30 fiscal year end date but without a
completed FY 2023 audit will treat FY 2022 as their most recent
historic fiscal year and FY 2023 as their current year.
(D) Applicants with a 9/30 fiscal year end date will treat FY
2022 as their most recent historic fiscal year and FY 2023 as their
current year.
(E) Applicants with a 12/31 fiscal year end date will treat FY
2022 as their most recent historic fiscal year and FY 2023 as their
current year.

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

------------------------------------------------------------------------
CDFI Certification status......... <bullet> Each FA Applicant must be a
Certified CDFI prior to the date of
award announcement.
<bullet> If a CDFI is uncertified as
of the date of NOFA publication, it
must have submitted an application
for CDFI Certification by the
applicable deadline in Table 12 or
it will be deemed ineligible to
receive an FA award. The CDFI Fund
will not extend the deadline for
any uncertified Applicant that did
not submit the Certification
Application by the deadline, except
in the case of a federal government
administrative or technological
error that directly resulted in a
late submission of the CDFI
Certification Application.
<bullet> The CDFI Fund will make
CDFI Certification determinations
for Certifiable Applicants prior to
the award announcement date. If the
CDFI Certification Application is
denied, the Applicant will not be
eligible to receive an FA award.
<bullet> The CDFI Fund will consider
an Application submitted by an
Applicant that has pending
noncompliance issues with its
Annual Certification and Data
Collection Report (ACR) if the CDFI
Fund has not yet made a final
compliance determination.
If a Certified CDFI loses its CDFI
Certification at any point prior to
the award announcement, the
Application will be deemed
ineligible and no longer be
considered by the CDFI Fund.
Matching Funds documentation...... <bullet> Native American CDFIs are
not required to provide Matching
Funds.
<bullet> Applicants that are
required to submit Matching Funds
(see Table 9) must submit
acceptable documentation attesting
that they have received or will
receive Matching Funds. Applicants
that do not complete the Matching
Funds section in the FA Application
in AMIS, documenting the source(s)
of their Matching Funds, will not
be evaluated. See Table 9 for
additional information on Matching
Funds requirements for FY 2024
Funding Round. The Matching Funds
requirement for Category I (SECA)
FA Applicants and HFFI-FA
Applicants was waived in the final
FY 2023 appropriations, and the
final FY 2024 appropriations are
still pending. Therefore HFFI-FA
and SECA FA applicants are not
required to submit Matching Funds
for their award requests at the
time of Application. However, the
CDFI Fund reserves the right to
request Matching Funds from
Category I (SECA) FA and HFFI-FA
Applicants if Matching Funds are
not waived in the final FY 2024
CDFI Program appropriations.
Category II (Core) FA Applicants
must document their Matching Funds
in the Matching Funds section in
the FA Application in AMIS.
Matching Funds information provided
in another format will not be
considered.
<bullet> Unless Congress waived the
Matching Funds requirement, awards
will be limited to no more than two
times the amount of In-Hand or
Committed Matching Funds
documentation provided at the time
of Application (or for Category I
(SECA) FA and HFFI-FA Applicants,
upon request if applicable). See
Table 9 for the definitions of
Committed and In-Hand.
<bullet> Unless Congress waived the
Matching Funds requirement, awards
will be obligated in like form to
the Matching Funds provided at time
of Application (or for Category I
(SECA) FA and HFFI-FA Applicants,
upon request if applicable). See
Table 9. Matching Funds
``Determination of Award Form'' for
additional guidance.
<bullet> Unless Congress waived the
Matching Funds requirement, award
payments from the CDFI Fund will
require eligible dollar-for-dollar
In-Hand Matching Funds for the
total payment amount. Recipients
will not receive a payment until
100% of their Matching Funds are In-
Hand.
<bullet> Unless Congress waived the
Matching Funds requirement, the
CDFI Fund will reduce and de-
obligate the remaining balance of
any award that does not demonstrate
full dollar-for-dollar Matching
Funds equal to the announced award
amount by the end of the Matching
Funds Window.
Consideration as a Native American <bullet> For consideration as a
CDFI. Native American CDFI under this
NOFA, an FA Applicant must
Primarily Serve a Native Community.
Primarily Serves is defined as 50%
or more of an Applicant's
activities being directed to a
Native Community.
<bullet> For purposes of this NOFA,
a Native Community is defined as
Native American, Alaska Native, or
Native Hawaiian populations or
Native American areas defined as
federally-designated reservations,
Hawaiian homelands, Alaska Native
Villages and U.S. Census Bureau-
designated Tribal Statistical
Areas.
<bullet> Applicants that do not meet
the above conditions will not be
considered as a Native American
CDFI under this NOFA.
<bullet> The Indian Community
Economic Enhancement Act of 2020
(Pub. L. 116-261) permanently
waived the Matching Funds
requirements for Native American
CDFIs. Therefore, if the CDFI Fund
determines that a Category II
(Core) FA Applicant that attests in
its Application to meeting the
above conditions does not meet the
criteria to be considered a Native
American CDFI, the Application will
be deemed ineligible for failure to
provide Matching Funds.

[[Page 85981]]

$5 Million funding cap............ <bullet> The CDFI Fund is prohibited
from obligating more than $5
million in CDFI and NACA Program
awards, in the aggregate, to any
one organization and its
Subsidiaries and Affiliates during
any three-year period from the
announcement date.
<bullet> The CDFI Fund will include
CDFI and NACA Program final awards
in the cap calculation that were
provided to an Applicant (and/or
its Subsidiaries or Affiliates)
under the FY 2022 funding round, as
well as the requested FY 2024
award, excluding DF-FA and HFFI-FA
awards.
FA Category I (SECA).............. <bullet> To be an eligible SECA
Applicant, an Applicant must meet
the following criteria:
(1) Be either a Certified or
Certifiable CDFI as defined in
Table 5;
(2) Request $1,400,000 or less in
Base-FA award funds;
AND EITHER
(3) Have total assets as of the
end of the Applicant's most
recent historic fiscal year in
accordance with the FA
Application Guidance (as stated
in the Applicant's AMIS account
and verified by internally
prepared financial statements
and/or audits) in the following
amounts:
<bullet> Insured Depository
Institutions and Depository
Institution Holding Companies:
up to $250 million;
<bullet> Insured Credit Unions
and State-Insured Credit
Unions: up to $100 million;
<bullet> Venture Capital Funds:
up to $5 million;
<bullet> Other CDFIs: up to $5
million;
OR
<bullet> Have begun operations
(as indicated by the financing
activity start date field in
the Applicant's AMIS account)
on or after January 1, 2020.
FA Category II (Core)............. <bullet> A Core Applicant must be
either a Certified or Certifiable
CDFI as defined in Table 5.
<bullet> An Applicant that meets the
SECA requirements stated above, and
that requests more than $1,400,000
in Base-FA award funds is
categorized as an FA Category II
(Core) Applicant, regardless of its
total assets and/or years in
operation.
<bullet> Such Applicants who meet
SECA requirements but wish to apply
as a Core FA Applicant by
requesting more than $1,400,000
must elect to apply as a Core
Applicant upon Application launch
in AMIS. The CDFI Fund will not
change the Application type (Core
FA or SECA FA) after the
Application has been launched by
the Applicant.
FA Applicants with Community <bullet> A CDFI Applicant can apply
Partners. for assistance jointly with a
Community Partner. The CDFI
Applicant must complete the CDFI
Program Application and address the
Community Partnership in its
business plan and other sections of
the Application as specified in the
Application materials.
<bullet> The CDFI Applicant must be
either a Certified or Certifiable
CDFI as defined in Table 5.
<bullet> An Application with a
Community Partner must:
[cir] Describe how the CDFI
Applicant and Community Partner
will each participate in the
partnership and how the
partnership will enhance
eligible activities serving the
Investment Area and/or Targeted
Population.
[cir] Demonstrate that the
Community Partnership activities
are consistent with the
strategic plan submitted by the
CDFI Applicant.
<bullet> Assistance provided upon
approval of an Application with a
Community Partner shall only be
entrusted to the CDFI Applicant and
shall not be used to fund any
activity carried out directly by
the Community Partner or an
Affiliate or Subsidiary thereof.
Regulated Institution............. <bullet> Each Regulated Institution
FA Applicant must have a CAMELS/
CAMEL rating (rating for Insured
Depository Institutions and Credit
Unions, respectively) or equivalent
type of rating by its regulator
(collectively referred to as
``CAMELS/CAMEL rating'') of at
least ``3''.
<bullet> FA Applicants with CAMELS/
CAMEL ratings of ``4 or 5'' will
not be eligible for awards.
<bullet> The CDFI Fund will not
approve an FA award for an
Applicant that has a Community
Reinvestment Act (CRA) assessment
rating of below ``Satisfactory'' on
its most recent examination.
<bullet> In the case of a Depository
Institution Holding Company
Applicant that intends to carry out
the award through a Subsidiary
Insured Depository Institution, the
CAMELS/CAMEL rating eligibility
requirements noted above apply to
both the Depository Institution
Holding Company Applicant as well
as the Subsidiary Insured
Depository Institution.
<bullet> The CDFI Fund will also
evaluate material concerns
identified by the Appropriate
Federal Banking Agency in
determining the eligibility of
Regulated Institution Applicants.
PPC-FA............................ <bullet> All PPC-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements; and
[cir] Provide a PPC-FA award
request amount in AMIS.
DF-FA............................. <bullet> All DF-FA Applicants must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the DF-FA
Application; and
[cir] Provide a DF-FA award
request amount in AMIS.
HFFI-FA........................... <bullet> All HFFI-FA Applicants
must:
[cir] Submit a CDFI or NACA
Program FA Application;
[cir] Meet all FA award
eligibility requirements;
[cir] Submit the HFFI-FA
Application; and
[cir] Provide a HFFI-FA award
request amount in AMIS.
------------------------------------------------------------------------

B. Matching Funds Requirements: In order to receive a Base-FA, PPC-
FA, or DF-FA award, an Applicant must provide evidence of eligible
dollar-for-dollar Matching Funds and attest that it can provide
acceptable documentation upon the CDFI Fund's request as part of the
Application, unless Congress waived the Matching Funds requirement. The
Matching Funds requirement was permanently waived for Native American
CDFIs. Therefore, Native American CDFI Applicants are not required to
submit Matching Funds for their award requests. The Matching Funds
requirement was waived for Category I (SECA) FA Applicants and HFFI-FA
Applicants in the final appropriations bill for FY 2023, and the final
FY 2024 appropriations are still pending. As a result, Category I
(SECA) FA Applicants and HFFI-FA Applicants are not required to submit
Matching Funds for their award requests at the time of Application.
However, the CDFI Fund reserves the right to request Matching Funds
from Category I (SECA) FA Applicants and HFFI-FA Applicants if Matching
Funds are not waived in the final FY 2024 CDFI Program appropriations.
An Applicant that represents that it has Equity Investments and/or
deposits Matching Funds In-Hand at the time of Application submission
must provide documentation of such as part of the Application (or for
Category I (SECA) FA and HFFI-FA Applicants, upon request if
applicable). An Applicant that

[[Page 85982]]

uses retained earnings as Matching Funds must provide supporting
documentation of In-Hand and/or Committed Matching Funds at the time of
Application submission. The CDFI Fund will review Matching Funds
information, attestations, and supporting Matching Funds documentation,
if applicable, prior to award payment and will pay award funds to a
Recipient based upon eligible In-Hand Matching Funds. The CDFI Fund
encourages Applicants to review the Regulations, the Uniform
Requirements, and the Matching Funds guidance materials available on
the CDFI Fund's website. Table 9 provides a summary of the Matching
Funds requirements for Applicants for whom Matching Funds are required.
The Matching Funds requirement for Native American CDFIs is permanently
waived. Additional details are set forth in the Application materials.

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

------------------------------------------------------------------------
In-Hand Matching Funds definition. <bullet> Matching Funds are In-Hand
when the Applicant receives payment
for the Matching Funds from the
Matching Funds source and has
acceptable documentation that can
be provided to the CDFI Fund upon
request. Acceptable In-Hand
documentation must show the source,
form (e.g., grant, loan, deposit,
and Equity Investment), amount
received, and the date the funds
came into physical possession of
the Applicant.
<bullet> The following
documentation, depending on the
Matching Funds type, must be
provided to the CDFI Fund upon
request:
<bullet> loan--the loan agreement
and/or promissory note;
<bullet> grant--the grant letter or
agreement;
<bullet> Equity Investment--the
stock certificate, documentation of
total equity outstanding, and
shareholder agreement;
<bullet> retained earnings--Retained
Earnings Calculator and audited
financial statements or call
reports from regulating entity for
each fiscal year reported in the
Retained Earnings Calculator;
<bullet> third party in-kind
contribution- evidence of receipt
of contribution and valuation;
<bullet> deposits--certificates of
deposit agreement;
<bullet> secondary capital--
secondary capital agreement and
disclosure and acknowledgement
statement;
AND
<bullet> clearly legible
documentation that demonstrates
actual receipt of the Matching
Funds including the date of the
transaction and the amount, such as
a copy of a check or a wire
transfer statement.
<bullet> Unless Congress waived the
Matching Funds requirement,
Applicants must provide information
on their In-Hand Matching Funds in
the Matching Funds section of the
FA Application in AMIS (refer to
Table 10--Required Application
Documents) at the time of
Application submission.
<bullet> Although Applicants are not
required to provide further
documentation for In-Hand Matching
Funds at the time of Application
submission (other than supporting
documentation for retained
earnings, deposits, and Equity
Investments, which must be provided
at the time of Application
submission), they must be able to
provide documentation to the CDFI
Fund upon request.
Matching Funds requirements by The following Applicants must
Application type. provide evidence of acceptable
Matching Funds at the time of
Application:
<bullet> Category II/Core FA
Applicants, with the exception of
Native American CDFIs, applying for
Base-FA, PPC-FA, and DF-FA
The CDFI Fund reserves the right to
request Matching Funds from
Category I (SECA) FA Applicants and
HFFI-FA Applicants if Matching
Funds are not waived in the final
FY 2024 CDFI Program
appropriations.
TA Applicants and Native American
CDFI FA Applicants are not required
to provide Matching Funds.
Amount of required match.......... Unless waived by Congress,
Applicants must provide evidence of
eligible, In-Hand, dollar-for-
dollar, non-Federal Matching Funds
for every award dollar to be paid
by the CDFI Fund. If awarded,
Applicants that do not demonstrate
100% In-Hand Matching Funds at the
time of Application submission may
experience a longer payment
timeline.
Determination of award form....... Unless the Matching Funds
requirement is waived by Congress,
awards will be made in comparable
form and value to the eligible In-
Hand and/or Committed Matching
Funds submitted by the Applicant.
For awards where Congress has
waived the Matching Funds
requirement, the form of the award
will be a grant.
<bullet> For example, if an
Applicant provides documentation of
eligible loan Matching Funds for
$200,000 and eligible grant
Matching Funds of $400,000, the
CDFI Fund will obligate $200,000 of
the FA award as a loan and $400,000
as a grant.
<bullet> The CDFI Fund will not
permit a Recipient to change the
form of a loan award.
For awards where Congress waived the
Matching Funds requirement, the
form of the award will be a grant.
Matching Funds Window definition.. <bullet> The Applicant must receive
eligible In-Hand Matching Funds
between January 1, 2022 and January
15, 2025.
<bullet> A Recipient must provide
the CDFI Fund with all
documentation demonstrating the
receipt of In-Hand Matching Funds
by January 31, 2025.
Matching Funds and form of award.. <bullet> Recipients will be approved
for a maximum award size of two
times the total amount of eligible
In-Hand and/or Committed Matching
Funds included in the Application
(or for Category I (SECA) FA and
HFFI-FA Applicants, upon request if
applicable), so long as they do not
exceed the requested award amount.
<bullet> The form of the Matching
Funds documented in the Application
determines the form of the award.
Committed Matching Funds <bullet> Matching Funds are
definition. Committed when the Applicant has
entered into or received a legally
binding commitment from the
Matching Funds source demonstrating
that the Matching Funds will be
disbursed to the Applicant at a
future date.
<bullet> The Applicant must provide
information on their Committed
Matching Funds in the Matching
Funds section of the FA Application
in AMIS (refer to Table 10--
Required Application Documents) at
the time of Application submission.
<bullet> Although the Applicant is
not required to provide further
documentation for Committed
Matching Funds at the time of
Application submission (other than
supporting documentation for
retained earnings, deposits, and
Equity Investments, which must be
provided at the time of Application
submission), it must be able to
provide the CDFI Fund, upon
request, acceptable written
documentation showing the source,
form, and amount of the Committed
Matching Funds (including, in the
case of a loan, the terms thereof),
as well as the anticipated payment
date of the Committed Matching
Funds.
Limitations on Matching Funds..... <bullet> Matching Funds must be from
non-Federal sources.
<bullet> Applicants cannot proffer
Matching Funds that were accepted
as Matching Funds for a prior award
that required Matching Funds under
the CDFI Program, NACA Program, or
under another Federal grant or
award program.
<bullet> Matching Funds must comply
with the Regulations.
<bullet> The Matching Funds
source(s) must support at least one
of the five eligible FA activities
(see Section II (C) of this NOFA).
Rights of the CDFI Fund........... <bullet> The CDFI Fund reserves the
right to contact the Matching Funds
source to discuss the Matching
Funds and the documentation that
the Applicant provided.
<bullet> The CDFI Fund may grant an
extension of the Matching Funds
Window (defined in Table 9), on a
case-by-case basis, if the CDFI
Fund deems it appropriate.
<bullet> The CDFI Fund reserves the
right to rescind all or a portion
of an award requiring Matching
Funds and re-allocate the rescinded
award amount to other qualified
Applicant(s) if a Recipient fails
to provide evidence of In-Hand
Matching Funds obtained during the
Matching Funds Window totaling its
award amount.

[[Page 85983]]

Matching Funds in the form of <bullet> Third party in-kind
third-party in-kind contributions. contributions are non-cash
contributions (i.e., property or
services) provided by non-Federal
third parties to the Applicant.
<bullet> Third party in-kind
contributions will be deemed in the
form of a grant for Matching Funds
purposes.
<bullet> Third party in-kind
contributions may be in the form of
real property, equipment, supplies,
and other expendable property. The
value of goods and services must
directly benefit the eligible FA
activities.
<bullet> For third party in-kind
contributions, the fair market
value of goods and services must be
documented as the grant match.
<bullet> Applicants will be
responsible for documenting the
value of all in-kind contributions
pursuant to the Uniform
Requirements.
Matching Funds in the form of a <bullet> An award made in the form
loan. of a loan will have the following
standardized terms:
i. A 13-year term with semi-annual
interest-only payments due in years
1 through 10, and fully amortizing
payments due each year in years 11
through 13; and
ii. A fixed interest rate of 4.19%,
which was calculated by the CDFI
Fund based on the U.S. Department
of the Treasury's 10-year Treasury
note.
<bullet> The Applicant's Matching
Funds loan(s) must:
i. have a minimum of a 3-year term
(loans presented as Matching Funds
with less than a 3-year term will
not qualify as eligible match); and
ii. be from a non-Federal source.
Matching Funds in the form of <bullet> An Equity Investment source
Equity Investments. must meet the terms outlined in 12
CFR 1805.401(a): Equity: The CDFI
Fund may make non-voting equity
investments in a Recipient,
including, without limitation, the
purchase of non-voting stock. Such
stock shall be transferable and, in
the discretion of the CDFI Fund,
may provide for convertibility to
voting stock upon transfer. The
CDFI Fund shall not own more than
50 percent of the equity of a
Recipient and shall not control its
operations.
<bullet> The CDFI Fund's ownership
of equity is calculated by dividing
the shares owned by the CDFI Fund
by the total number of shares
issued by the Recipient.
<bullet> The CDFI Fund reserves the
right, in its sole discretion, to
perform its own valuation of Equity
Investment source(s) and to
determine if the equity value is
acceptable to the CDFI Fund.
Severe Constraints Waiver......... <bullet> In the case of an Applicant
demonstrating severe constraints on
available sources of Matching
Funds, the CDFI Fund, in its sole
discretion, may provide a Severe
Constraints Waiver, which permits
such Applicant to comply with the
Matching Funds requirements by
reducing such requirements by up to
50%.
<bullet> In order to be considered
eligible for a Severe Constraints
Waiver, an Applicant must meet all
of the SECA eligibility criteria
described in Table 8. Instructions
for requesting a Severe Constraints
Waiver will be made available if
required.
<bullet> No more than 25% of the
total funds available for
obligation under this funding round
may qualify for a Severe
Constraints Waiver.
Ineligible Matching Funds......... <bullet> Applicants will not be
given the opportunity to correct or
amend the Matching Funds
information included in the FA
Application after Application
submission if the CDFI Fund
determines that any portion of the
Applicant's Matching Funds is
ineligible.
Use of Matching Funds from a prior If an Applicant offers Matching
CDFI Program Recipient. Funds documentation from an
organization that was a prior
Recipient under the CDFI Program or
NACA Program, the Applicant must be
able to prove to the CDFI Fund's
satisfaction that such funds do not
consist, in whole or in part, of
CDFI Program funds, NACA Program
funds, or other Federal funds.
Matching Funds in the form of <bullet> Retained earnings are
retained earnings. eligible for use as Matching Funds
in an amount equal to the CDFI
Fund's calculation of:
i. the increase in retained earnings
that occurred over any one of the
Applicant's fiscal years within the
Matching Funds Window, adjusted to
remove revenue and expenses derived
from Federal sources and Matching
Funds used for an award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years of
the Applicant with at least one of
the fiscal years occurring within
the Matching Funds Window, adjusted
to remove revenue and expenses
derived from Federal sources and
Matching Funds used for an award;
or
iii. any increases as measured in
(i) and (ii) will be adjusted to
remove Matching Funds used for a
prior award..
<bullet> Retained earnings will be
matched in the form of a grant.
<bullet> Depository Institution
Holding Company Applicants must
provide call reports for the
Depository Institution Holding
Company in order to verify their
retained earnings, even if the
requested award will support its
Subsidiary CDFI Insured Depository
Institution.
Special rule for Regulated <bullet> A Regulated Institution's
Institutions. retained earnings are eligible for
use as Matching Funds in an amount
equal to the CDFI Fund's
calculation of:
i. the increase in retained earnings
that occurred over any one of the
Applicant's fiscal years within the
Matching Funds Window, adjusted to
remove revenue from Federal sources
and Matching Funds used for an
award; or
ii. the annual average of such
increases that occurred over any
three consecutive fiscal years of
the Applicant with at least one of
the fiscal years occurring within
the Matching Funds Window, adjusted
to remove revenue and expenses
derived from Federal sources and
Matching Funds used for an award;
or
iii. the entire retained earnings
that have been accumulated since
the inception of the Applicant, as
provided in the Regulations.
<bullet> If option (iii) is used for
Insured Credit Unions or State-
Insured Credit Unions, the
Applicant must increase its member
and/or non-member shares and/or
total loans outstanding by an
amount equal to the amount of
retained earnings committed as
Matching Funds.
<bullet> This increase (1) will be
measured on a quarterly basis from
December 31, 2023; (2) must occur
by September 30, 2025; and (3) will
be based on amounts reported in the
Applicant's National Credit Union
Administration (NCUA) form 5300
Call Report, or equivalent.
<bullet> The CDFI Fund will assess
the likelihood of this increase
during the Application review
process.
<bullet> An award will not be made
to any Applicant that has not
demonstrated in the relevant NCUA
form 5300 call reports or
equivalent that it has increased
shares and/or total loans
outstanding by at least 25% of the
requested FA award amount
(including all awards requiring
Matching Funds) between December
31, 2021, and December 31, 2022.
<bullet> The Matching Funds are not
In-Hand until the Recipient has
increased its member and/or non-
member shares, deposits and/or
total loans outstanding by the
amount of retained earnings since
inception that are being used as
Matching Funds.

[[Page 85984]]

<bullet> If option (iii) is used for
Insured Depository Institutions or
Depository Institution Holding
Companies, the Applicant or its
Subsidiary CDFI Insured Depository
Institution (in the case of a
Depository Institution Holding
Company) must increase deposits and/
or total loans outstanding by an
amount equal to the amount of
retained earnings committed as
Matching Funds. Depository
Institution Holding Company
Applicants must use the call
reports of the Subsidiary CDFI
Insured Depository Institution that
the requested the FA award will
support.
<bullet> This increase (1) will be
measured on a quarterly basis from
December 31, 2023; (2) must occur
by September 30, 2025; and (3) will
be based on amounts reported in the
call report.
<bullet> The CDFI Fund will assess
the likelihood of this increase
during the Application review
process.
<bullet> An award will not be made
to any Applicant that has not
demonstrated in the relevant call
reports that it has increased
deposits and/or total loans
outstanding by at least 25% of the
requested FA award amount
(including all awards requiring
Matching Funds) between December
31, 2021, and December 31, 2022.
<bullet> The Matching Funds are not
In-Hand until the Recipient has
increased its deposits and/or total
loans outstanding by the amount of
retained earnings since inception
that are being used as Matching
Funds.
<bullet> All regulated Applicants
utilizing the option (iii) should
refer to the Retained Earnings
Guidance included in the Retained
Earnings Calculator Excel Workbook
found on the CDFI Fund's website.
------------------------------------------------------------------------
* The requirements set forth in Table 9 are applicable to Category II
(Core) FA Applicants, with the exception of Native American CDFIs,
applying for Base-FA, PPC-FA, and DF-FA. The Matching Funds
requirements were permanently waived for Native American CDFIs.
Therefore, the requirements set forth in Table 9 are not applicable to
Native American CDFI Applicants for the FY 2024 Funding Round.
Category I (SECA) FA Applicants and HFFI-FA Applicants are not
required to submit Matching Funds at the time of Applications
submission but the CDFI Fund reserves the right to request Matching
Funds from these Applicants if the Matching Funds requirement is not
waived in the final FY 2024 CDFI Program appropriations.

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials
can be found on the CDFI Fund's website at <a href="http://www.cdfifund.gov/cdfi">www.cdfifund.gov/cdfi</a>.
Applicants may request a paper version of any Application material by
contacting the CDFI Fund Help Desk at <a href="/cdn-cgi/l/email-protection#375453515e5f525b47775453515e19434552564419505841">[email&#160;protected]</a>. Paper
versions of Application materials will only be provided if an Applicant
cannot access the CDFI Fund's website.
B. Content and Form of Application Submission: All Applications
must be prepared using the English language, and calculations must be
computed in U.S. dollars. The following table lists the Required
Application Documents for the FY 2024 Funding Round. The CDFI Fund
reserves the right to request and review other pertinent or public
information that has not been specifically requested in this NOFA or
the Application. Information submitted by the Applicant that the CDFI
Fund has not specifically requested will not be reviewed or considered
as part of the Application. Financial data, portfolio, and activity
information provided in the Application should only include the
Applicant's activities. Information submitted must accurately reflect
the Applicant's activities (other than Depository Institution Holding
Companies--see Table 6).

Table 10--Required Application Documents
------------------------------------------------------------------------
Application documents Applicant type Submission format
------------------------------------------------------------------------
Active AMIS Account............. All Applicants.... AMIS.
SF-424.......................... All Applicants.... Fillable PDF in
<a href="http://Grants.gov">Grants.gov</a>.
Title VI Compliance Worksheet... All Applicants.... AMIS.
CDFI Program Application All Applicants.... AMIS.
Components:.
<bullet> Funding Application
Detail.
<bullet> Data, Charts, and
Narrative sections as
listed in AMIS and outlined
in Application materials..
<bullet> Matching Funds (FA
Core Applicants, with the
exception of Native
American CDFIs)..
PPC-FA Application Components:.. PPC-FA Applicants. AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives.........
<bullet> AMIS Charts........
DF-FA Application Components:... DF-FA Applicants.. AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives.........
<bullet> AMIS Charts........
HFFI-FA Application Components:. HFFI-FA Applicants AMIS.
<bullet> Funding Application
Detail.
<bullet> Narratives.........
<bullet> AMIS Charts........
------------------------------------------------------------------------
Attachments to the Application
------------------------------------------------------------------------
Key Staff Resumes............... All Applicants.... PDF or Word
document in AMIS.
Organizational Chart............ All Applicants.... PDF in AMIS.
Completed, final audited FA Applicants and PDF in AMIS.
financial statements for the TA Applicants, if
Applicant's Three Most Recent available: loan
Historic Fiscal Years. funds, Venture
Capital Funds,
and other non-
Regulated
Institutions.
Unaudited financial statements FA and TA PDF in AMIS.
for Applicant's Three Most Applicants, if
Recent Historic Years (required available: loan
if available, and only if funds, Venture
audited financial statements Capital Funds,
are not available). and other non-
Regulated
Institutions.
Current Year to Date--September FA and TA PDF in AMIS.
30, 2023 Unaudited financial Applicants: loan
statements. funds, Venture
Capital Funds,
and other non-
Regulated
Institutions.
Community Partnership Agreement. FA Applicants, if PDF or Word
applicable. document in AMIS.
Retained Earnings Calculator FA Core Excel in AMIS.
Excel Workbook (required only Applicants, if
if using retained earnings as applicable.
Matching Funds).

[[Page 85985]]

Call reports for each fiscal FA Core PDF in AMIS.
year reported in the Retained Applicants:
Earnings Calculator. Regulated
Institutions that
are using
retained earnings
as Matching Funds.
Equity Investment Matching Funds FA Core PDF or Word
Documentation. Applicants: For- document in AMIS.
profit CDFIs that
are using In-Hand
Equity
Investment(s) as
Matching Funds.
Deposits Matching Funds FA Core PDF or Word
Documentation. Applicants: document in AMIS.
Regulated
Institutions that
are using In-Hand
Deposits as
Matching Funds.
------------------------------------------------------------------------

C. Application Submission: The CDFI Fund has a two-step process
that requires the submission of Required Application Documents (listed
in Table 10) on separate deadlines and locations. The SF-424 must be
submitted through <a href="http://Grants.gov">Grants.gov</a> and all other Required Application
Documents through the AMIS system. The CDFI Fund will not accept
Applications via email, mail, facsimile, or other forms of
communication, except in extremely rare circumstances that have been
pre-approved in writing by the CDFI Fund. The deadline for submitting
the SF-424 is listed in Tables 1 and 12.
All Applicants must register in the <a href="http://Grants.gov">Grants.gov</a> system to
successfully submit the SF-424. The <a href="http://Grants.gov">Grants.gov</a> registration process can
take 45 days or longer to complete and the CDFI Fund strongly
encourages Applicants to start the <a href="http://Grants.gov">Grants.gov</a> registration process as
early as possible (refer to the following link: <a href="http://www.grants.gov/web/grants/register.html">http://www.grants.gov/web/grants/register.html</a>). Since the <a href="http://Grants.gov">Grants.gov</a> registration process
requires Applicants to have a UEI and an EIN, Applicants without these
required items should allow for additional time to complete the
<a href="http://Grants.gov">Grants.gov</a> registration process. The CDFI Fund will not extend the
Application deadline for any Applicant that started the <a href="http://Grants.gov">Grants.gov</a>
registration process but did not complete it by the deadline. An
Applicant that has previously registered with <a href="http://Grants.gov">Grants.gov</a> must verify
that its registration is current and active. Applicants should contact
<a href="http://Grants.gov">Grants.gov</a> directly with questions related to the registration or
submission process as the CDFI Fund does not maintain the <a href="http://Grants.gov">Grants.gov</a>
system.
Each Application must be signed by a designated Authorized
Representative in AMIS before it can be submitted. Applicants must
ensure that an Authorized Representative is an employee or officer and
is authorized to sign legal documents on behalf of the Applicant.
Consultants working on behalf of the Applicant may not be designated as
Authorized Representatives. Only a designated Authorized Representative
or Application Point of Contact, included in the Application, may
submit the Application in AMIS. If an Authorized Representative or
Application Point of Contact does not submit the Application, the
Application will be deemed ineligible.
D. Unique Entity Identifier (UEI): The UEI has replaced the Dun and
Bradstreet Data 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 viewable in <a href="http://SAM.gov">SAM.gov</a>, including inactive registrations.
New registrants will be assigned a UEI as part of their SAM
registration.
E. System for Award Management (SAM): Any entity applying for
Federal grants or other forms of Federal financial assistance through
<a href="http://Grants.gov">Grants.gov</a> must be registered in SAM before submitting its Application.
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 into
<a href="http://SAM.gov">SAM.gov</a>. Registration in SAM is required as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process. The SAM registration process may take one month
or longer to complete. An original, signed notarized letter identifying
the authorized entity administrator for the entity associated with the
UEI is required. This requirement is applicable to new entities
registering in SAM or an existing registration where there is no
existing entity administrator. Existing entities with registered entity
administrators do not need to submit an annual notarized letter.
Applicants without an EIN should allow for additional time as an
Applicant cannot register in SAM without an EIN. Applicants that have
previously completed the SAM registration process must verify that
their SAM accounts are current and active. Each Applicant must continue
to maintain an active SAM registration with current information at all
times during which it has an active Federal award or an Application
under consideration by a federal awarding agency. The CDFI Fund will
deem ineligible any Applicant that fails to properly register or
activate its SAM account and, as a result, is unable to submit the SF-
424 in <a href="http://Grants.gov">Grants.gov</a> or Application in AMIS by the applicable Application
deadlines. These restrictions also apply to organizations that have not
yet received a UEI or EIN by the established deadline. Applicants must
contact SAM directly with questions related to registration or SAM
account changes as the CDFI Fund does not maintain this system and has
no ability to make changes or correct errors of any kind. For more
information about SAM, visit <a href="https://www.sam.gov">https://www.sam.gov</a>.

Table 11_Grants.gov Registration Timeline Summary
------------------------------------------------------------------------
Estimated
Step Agency minimum time to
complete
------------------------------------------------------------------------
Obtain an EIN................. Internal Revenue Two (2) Weeks.*
Service (IRS).
Register in <a href="http://SAM.gov">SAM.gov</a>........... System for Award Four (4) Weeks.*
Management (<a href="http://SAM.gov">SAM.gov</a>).
This step will
include obtaining a
UEI..

[[Page 85986]]

Register in <a href="http://Grants.gov">Grants.gov</a>........ <a href="http://Grants.gov">Grants.gov</a>............ One (1) Week.**
------------------------------------------------------------------------
* Applicants are advised that the stated durations are estimates only
and represent minimum timeframes. Actual timeframes may take longer.
The CDFI Fund will deem ineligible any Applicant that fails to
properly register or activate its SAM account, has not yet received a
UEI or EIN, and/or fails to properly register in <a href="http://Grants.gov">Grants.gov</a>.
** This estimate assumes an Applicant has a UEI, an EIN, and is already
registered in <a href="http://SAM.gov">SAM.gov</a>.

F. Submission Dates and Times:
1. Submission Deadlines: The following table provides the critical
deadlines for the FY 2024 Funding Round.

Table 12--FY 2024 CDFI Program Funding RoundCritical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Description Deadline Time (eastern time- ET) Submission method
----------------------------------------------------------------------------------------------------------------
Last day to create an Awards January 5, 2024............. 11:59 p.m. ET............... AMIS.
Management Information Systems
(AMIS) Account (all Applicants).
Last day to enter EIN and UEI in January 5, 2024............. 11:59 p.m. ET............... AMIS.
AMIS (all Applicants).
Last day to submit SF-424 January 5, 2024............. 11:59 p.m. ET............... Electronically via
(Application for Federal <a href="http://Grants.gov">Grants.gov</a>
Assistance).
Last day to contact February 2, 2024............ 11:59 p.m. ET............... Service Request
Certification, Compliance via AMIS.
Monitoring and Evaluation
(CCME) Help Desk regarding CDFI
Certification Applications for
uncertified FA Applicants.
Last day to contact CDFI Program February 2, 2024............ 5:00 p.m. ET................ Service Request
staff. via AMIS
Or
CDFI Fund
Helpdesk:
202-653-0421.
Last day to contact AMIS-IT Help February 6, 2024............ 5:00 p.m. ET................ Service Request
Desk (regarding AMIS technical via AMIS
problems only). Or
202-653-0422
Or
<a href="/cdn-cgi/l/email-protection#5d1c10140e1d3e393b3473292f383c2e733a322b">[email&#160;protected]</a>.
Last day to submit CDFI February 6, 2024............ 11:59 p.m. ET............... AMIS.
Certification Applications for
uncertified FA Applicants.
Last day to submit Title VI February 6, 2024............ 11:59 p.m. ET............... AMIS.
Compliance Worksheet (all
Applicants)*.
Last day to submit CDFI Program February 6, 2024............ 11:59 p.m. ET............... AMIS.
Application for Financial
Assistance (FA) or Technical
Assistance (TA).
----------------------------------------------------------------------------------------------------------------
* This requirement also applies to Applicants' prospective sub-recipients that are not direct beneficiaries of
Federal financial assistance (e.g., Depository Institution Holding Companies and their Subsidiary CDFI Insured
Depository Institutions).

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

[[Page 85987]]

10, and remedy any issues prior to the Application deadline. Each
Application must be signed by an Authorized Representative in AMIS
before it can be submitted. Applicants must ensure that the Authorized
Representative is an employee or officer and is authorized to sign
legal documents on behalf of the Applicant. Consultants working on
behalf of the Applicant may not be designated as Authorized
Representatives. Only an Authorized Representative or an Application
Point of Contact may submit an Application. If an Authorized
Representative or Application Point of Contact does not submit the
Application, the Application will be deemed ineligible. Applicants may
only submit one Base-FA or TA Application under the CDFI Program. Upon
submission, the Application will be locked and cannot be resubmitted,
edited, or modified in any way. The CDFI Fund will not unlock or allow
multiple Application submissions.
3. Late Submission or AMIS Account Creation: The CDFI Fund will not
accept an Application if the SF-424 is not submitted and accepted by
<a href="http://Grants.gov">Grants.gov</a> by the SF-424 deadline listed in Table 1 and Table 12.
Additionally, the CDFI Fund will not accept an Application if it is not
signed by an Authorized Representative and submitted in AMIS by the
Application deadline or if an Applicant did not submit the required
Title VI Compliance Worksheet by the Application deadline listed in
Table 1 and Table 12. The CDFI Fund will also not accept an Application
from an Applicant that failed to create an AMIS account by the
deadlines specified in Table 1 and Table 12. In these cases, the CDFI
Fund will not review any material submitted, and the Application will
be deemed ineligible.
However, in cases where a federal government administrative or
technological error directly resulted in precluding an Applicant from
submitting the SF-424, the Application, or creating an AMIS account, or
precluding an Applicant from submitting the Title VI Compliance
Worksheet by the deadlines stated in this NOFA, Applicants are provided
the opportunity to submit a written request for acceptance of late
submissions. Be aware that unexpected delay in a federal government
process does not in and of itself constitute a federal government
administrative or technological error. The CDFI Fund will only approve
the late submission of the SF-424, the Application, the Title VI
Compliance worksheet, or the late creation of an AMIS account if the
Applicant demonstrates that an unexpected delay was the direct result
of a federal government administrative or technological error.
a. Creation of AMIS Account: In cases where a federal government
administrative or technological error directly resulted in precluding
an Applicant from creating an AMIS account by the required deadline,
the Applicant must submit a written request for approval to create its
AMIS account after the deadline, and include documentation of the
error, no later than two business days after the AMIS account creation
deadline. The CDFI Fund will not respond to requests for creating an
AMIS account after that time. Applicants must submit such request via
an AMIS Service Request to the CDFI Program or an email to
<a href="/cdn-cgi/l/email-protection#4b282f2d22232e273b0b282f2d22653f392e2a38652c243d">[email&#160;protected]</a> with a subject line of ``AMIS Account Creation
Deadline Extension Request.''
b. SF-424 Late Submission: In cases where a federal government
administrative or technological error directly resulted in precluding
an Applicant from submitting the SF-424 by the required deadline, the
Applicant must submit a written request for acceptance of the late SF-
424 submission and include documentation of the error no later than two
business days after the SF-424 deadline. The CDFI Fund will not respond
to requests for acceptance of late SF-424 submissions after that time
period. Applicants must submit late SF-424 submission requests to the
CDFI Fund via an AMIS Service Request to the CDFI Program with a
subject line of ``Late SF-424 Submission Request.''
c. Title VI Compliance Worksheet Late Submission: In cases where a
federal government administrative or technological error directly
precluded an Applicant from submitting the Title VI Compliance
Worksheet by the required deadline, the Applicant must submit a written
request for approval to submit the Worksheet after the deadline, and
include documentation of the error, no later than two business days
after the Title VI Compliance Worksheet submission deadline. The CDFI
Fund will not respond to requests for submitting a Title VI Compliance
Worksheet after that time. Applicants must submit such request via an
AMIS Service Request to the CDFI Program with a subject line of ``CDFI
Program--Title VI Compliance Worksheet Deadline Extension Request.''
d. AMIS Application Late Submission: In cases where a federal
government administrative or technological error directly resulted in
precluding an Applicant from submitting the Application in AMIS by the
required deadline, the Applicant must submit a written request for
acceptance of the late Application submission and include documentation
of the error no later than two business days after the Application
deadline. The CDFI Fund will not respond to requests for acceptance of
late Application submissions after that time period. Applicants must
submit late Application submission requests to the CDFI Fund via an
AMIS Service Request to the CDFI Program with a subject line of ``Late
Application Submission Request.''
G. Funding Restrictions: Base-FA, PPC-FA, DF-FA, HFFI-FA and TA
awards are limited by the following:
1. Base-FA Awards:
a. A Recipient shall use Base-FA award funds only for the eligible
activities described in Section II. (C)(1) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, Base-FA awards may not be used to support the activities
of, or otherwise be passed through, transferred, or co-awarded to,
third-party entities, whether Affiliates, Subsidiaries, or others,
unless done pursuant to a merger or acquisition or similar transaction,
and with the CDFI Fund's prior written consent.
c. Base-FA award funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay Base-FA award
funds in amounts, or under terms and conditions, which are different
from those requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
2. PPC-FA Awards:
a. A Recipient shall use PPC-FA award funds only for the eligible
activities described in Section II. (C)(5) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, PPC-FA awards may not be used to support the activities of,
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless
done pursuant to a merger or acquisition or similar transaction, and
with the CDFI Fund's prior written consent.
c. PPC-FA award funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay PPC-FA award

[[Page 85988]]

funds in amounts, or under terms and conditions, which are different
from those requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
3. DF-FA Awards:
a. A Recipient shall use DF-FA award funds only for the eligible
activities described in Section II. (C)(2) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, DF-FA awards may not be used to support the activities of,
or otherwise be passed through, transferred, or co-awarded to, third-
party entities, whether Affiliates, Subsidiaries, or others, unless
done pursuant to a merger or acquisition or similar transaction, and
with the CDFI Fund's prior written consent.
c. DF-FA award funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay DF-FA award funds
in amounts, or under terms and conditions, which are different from
those requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
4. HFFI-FA Awards:
a. A Recipient shall use HFFI-FA award funds only for the eligible
activities described in Section II. (C)(4) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, HFFI-FA awards may not be used to support the activities
of, or otherwise be passed through, transferred, or co-awarded to,
third-party entities, whether Affiliates, Subsidiaries, or others,
unless done pursuant to a merger or acquisition or similar transaction,
and with the CDFI Fund's prior written consent.
c. HFFI-FA award funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay HFFI-FA award
funds in amounts, or under terms and conditions, which are different
from those requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.
5. TA Awards:
a. A Recipient shall use TA award funds only for the eligible
activities described in Section II.(C)(3) of this NOFA and its
Assistance Agreement.
b. With the exception of Depository Institution Holding Company
Applicants, TA awards may not be used to support the activities of, or
otherwise be passed through, transferred, or co-awarded to, third-party
entities, whether Affiliates, Subsidiaries, or others, unless done
pursuant to a merger or acquisition or similar transaction, and with
the CDFI Fund's prior written consent.
c. TA award funds shall only be paid to the Recipient.
d. The CDFI Fund, in its sole discretion, may pay TA award funds in
amounts, or under terms and conditions, which are different from those
requested by an Applicant.
e. The Recipient must comply, as applicable, with the Buy American
Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of the
Uniform Requirements, with respect to any Direct Costs.

V. Application Review Information

A. Criteria: If the Applicant has submitted an eligible
Application, the CDFI Fund will conduct a substantive review in
accordance with the criteria and procedures described in the
Regulations, this NOFA, the Application guidance, and the Uniform
Requirements. The CDFI Fund reserves the right to contact the Applicant
by telephone, email, or mail for the purpose of clarifying or
confirming Application information. If contacted, the Applicant must
respond within the time period communicated by the CDFI Fund or risk
that its Application will be rejected. The CDFI Fund will review the
Base-FA, DF-FA, PPC-FA, HFFI-FA, and TA Applications in accordance with
the process below. All internal and external reviewers will complete
the CDFI Fund's conflict of interest process. The CDFI Fund's
Application conflict of interest policy is located on the CDFI Fund's
website.
1. Base-FA Application Scoring, Award Selection, Review, and
Selection Process: The CDFI Fund will evaluate each Application using a
five-step review process illustrated in the sections below. Applicants
that meet the minimum criteria will advance to the next step in the
review process. Applicants applying as a Community Partnership must
describe the partnership in the Application pursuant to the
requirements set forth in Table 8, and will be evaluated in accordance
with the review process described below.
a. Step 1: Eligibility Review: The CDFI Fund will evaluate each
Application to determine its eligibility status pursuant to Section III
of this NOFA.
b. Step 2: Financial Analysis and Compliance Risk Evaluation:
i. Step 2: Financial Analysis: For Regulated Institutions, the CDFI
Fund will consider financial safety and soundness information from the
Appropriate Federal or State Banking Agency. As detailed in Table 8,
each Regulated Institution FA Applicant (including a subsidiary
Depository Institution that will expend and carry out the activities of
an award on behalf of a Depository Institution Holding Company
Applicant) must have a CAMELS/CAMEL rating of at least ``3'' and/or no
significant material concerns from its regulator and a CRA assessment
rating of at least ``Satisfactory''.
For non-regulated Applicants, the CDFI Fund will evaluate the
financial health and viability of each non-regulated Applicant using
financial information provided by the Applicant. For the financial
analysis, each non-regulated Applicant will receive a Total Financial
Composite Score on a scale of one (1) to five (5), with one (1) being
the highest rating. The Total Financial Composite Score is based on the
analysis of twenty-three (23) financial indicators. Applications will
be grouped based on the Total Financial Composite Score. Applicants
must receive a Total Financial Composite Score of one (1), two (2), or
three (3) to advance to Step 3. Applicants that receive an initial
Total Financial Composite Score of four (4) or five (5) will be re-
evaluated and re-scored by CDFI Fund staff. If the Total Financial
Composite Score remains four (4) or five (5) after CDFI Fund staff
review, the Applicant will not advance to Step 3.
ii. Step 2: Compliance Risk Evaluation: For the compliance
analysis, the CDFI Fund will evaluate the compliance risk of each
Applicant using information provided in the Application, as well as an
Applicant's reporting history, reporting capacity, and performance risk
with respect to meeting the PG&Ms set forth in the Assistance
Agreement. Each Applicant will receive a Total Compliance Composite
Score on a scale of one (1) to five (5), with one (1) being the highest
rating. Applicants that receive an initial Total Compliance Composite
Score of four (4) or five (5) will be re-evaluated by CDFI Fund staff.
If the Applicant is deemed a high compliance risk after CDFI Fund staff
review, the Applicant will not advance to Step 3.
c. Step 3: Business Plan Review: Applicants that proceed to Step 3
will

[[Page 85989]]

be evaluated on the soundness of their comprehensive business plan. Two
external, non-CDFI Fund Reviewers will conduct the Step 3: Business
Plan Review. Reviewers will evaluate the Application sections listed in
Table 13. All Applications will be reviewed in accordance with standard
reviewer evaluation materials. At the conclusion of the Step 3
evaluation, Applications will be ranked based on Total Business Plan
Scores, in descending order from highest Total Business Plan Score to
lowest Total Business Plan Score. Each category of Applicant type (Core
and SECA) will be ranked separately. An amount up to but not exceeding
the highest scoring 60% of Core Applicants in the Core Applicant pool
and an amount up to, but not exceeding, the highest scoring 70% of SECA
Applicants in the SECA Applicant pool will progress to Step 4. Within
each category of Applicant type (Core and SECA) respectively, if a tie
in Total Business Plan Scores would prevent an Applicant from moving to
Step 4, all Applicants with the same score will progress to Step 4.
Lastly, the CDFI Fund may consider the geographic diversity of
Applicants based on primary geographic market served (Major Urban Area,
Micropolitan Area, Minor Urban Area, and Rural Area) when determining
the Step 4 Applicant pool.
Based on funding availability for Core and SECA Base-FA Applicant
types, the CDFI Fund reserves the right to limit the number of
Applicants that progress from Step 3 to Step 4 to ensure that the CDFI
Program can meaningfully vary award amounts among Applicants with
different Step 4 Policy Objective scores, while maintaining minimum
award amounts specified in Table 2. In cases where funding availability
is not sufficient to progress all Applicants within the top 60% of the
Core Applicant pool and within the top 70% of the SECA Applicant pool
from Step 3 to Step 4, priority will be given to Applicants that score
highest on the Total Business Plan Score in each Applicant type (Core
and SECA).

Table 13--Step 3: Base-FA Business Plan Review Scoring Criteria
------------------------------------------------------------------------
Score needed to
Base-FA application sections Possible score advance
------------------------------------------------------------------------
Mission and Community Needs..... Scored as a N/A.
component of the
other Base-FA
Application
Sections.
Business Strategy............... 12................ N/A.
Market and Competitive Analysis. 7................. N/A.
Products and Services........... 12................ N/A.
Management and Track Record..... 12................ N/A.
Growth and Projections.......... 7................. N/A.
---------------------------------------
Total Business Plan Score... 50................ Core Applicants:
Up to, but not
exceeding, top
60% of all Core
Applicants
SECA Applicants:
Up to, but not
exceeding, top
70% of all SECA
Applicants.
------------------------------------------------------------------------

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

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

e. Step 5: Award Amount Determination: The CDFI Fund determines an
award amount for each Application based on the Step 4 Total Policy
Objective Review Score, the Applicant's request amount, and on certain
other factors, including, but not limited to, the Applicant's
deployment track record, minimum award size, and funding availability.
Applicants may have award amounts reduced from the requested award
amount or not funded as a result of this analysis. Based on funding
availability for Core, SECA, and/or NACA Base-FA Applicant types, the
CDFI Fund reserves the right to not award all Applicants that advance
to Step 5. In cases where funding availability is not sufficient to
award all Applications, priority will be given to Applicants that score
highest on the Step 4: Policy Objective Review in each Applicant type
Category (Core and SECA). For Core FA Applicants, the

[[Page 85990]]

award cannot exceed 30% of the Applicant's total portfolio outstanding
as of the Applicant's most recent historic fiscal year end. For SECA FA
Applicants, the award cannot exceed 75% of the Applicant's total
portfolio outstanding as of the Applicant's most recent historic fiscal
year end, or the minimum award size as noted in Table 2, whichever is
greater.
2. HFFI-FA Application Scoring, Award Selection, Review, and
Selection Process: A CDFI Fund internal reviewer will evaluate each
HFFI-FA Application associated with a Base-FA Application that
progresses to Step 4 of the FA Application review process. The reviewer
will evaluate the Application sections listed in Table 15 and assign a
Total HFFI- FA Score up to 60 points. The CDFI Fund will make awards to
the highest scoring Applicants first. All Applications will be reviewed
in accordance with standard reviewer evaluation materials. Applicants
that fail to receive a Base-FA award will not be considered for a HFFI-
FA award.
The CDFI Fund conducts additional levels of due diligence for
Applications that are under consideration for an HFFI-FA award. Award
amounts may be reduced from the requested award amount as a result of
this analysis. The CDFI Fund may reduce awards sizes from requested
amounts based on certain variables, including but not limited to, an
Applicant's loan disbursement activity, total portfolio outstanding, or
compliance with prior HFFI-FA awards. Lastly, the CDFI Fund may
consider the geographic diversity of Applicants when making its funding
decisions.

Table 15--Step 4 HFFI-FA Application Scoring Criteria
------------------------------------------------------------------------
Possible score
Sections (points)
------------------------------------------------------------------------
Target Market Profile................................ 10
Healthy Food Financial Products...................... 10
Projected HFFI-FA Activities......................... 15
HFFI Track Record.................................... 20
Management Capacity for Providing Healthy Food 5
Financing...........................................
------------------
Total HFFI-FA Score.............................. 60
------------------------------------------------------------------------

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

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

5. TA Application Scoring, Award Selection, Review, and Selection
Process: The CDFI Fund will evaluate each Application to determine its
eligibility pursuant to Section III of this NOFA. If the Application
satisfies the eligibility criteria, the CDFI Fund will conduct the TA
Business Plan Review in two parts. Emerging CDFI Applicants must
receive a rating of Low Risk or Medium Risk in Part I of the TA
Business Plan Review to progress to Part II of the TA Business Plan
Review. Emerging CDFI Applicants that receive a rating of High Risk in
Part I of the TA Business Plan Review will not be considered for an
award. Part I of the TA Business Plan Review is not applicable for
Certified CDFI Applicants. Emerging CDFI and Certified CDFI Applicants
must receive a rating of Low Risk or Medium Risk in Part II of the TA
Business Plan Review to be considered for an award. Applicants that
receive a rating of High Risk in Part II of the TA Business Plan Review
will not be considered for an award.
An Applicant that is a Certified CDFI will be evaluated on the
demonstrated need for a TA award to build the CDFI's capacity, further
the Applicant's strategic goals, and achieve impact within the
Applicant's Target Market. An Applicant that is an Emerging CDFI will
be evaluated on the Applicant's demonstrated capability and plan to
achieve CDFI Certification within three years, or if a prior Recipient,
the CDFI

[[Page 85991]]

Certification PG&M stated in its prior Assistance Agreement. An
Applicant that is an Emerging CDFI will also be evaluated on its
demonstrated need for a TA award to build the CDFI's capacity and
further its strategic goals. The CDFI Fund will rate each part of the
TA Business Plan Review as indicated in Table 17.

Table 17--TA Business Plan Review
------------------------------------------------------------------------
Business plan review
component Applicant type Ratings
------------------------------------------------------------------------
Part I:
Primary Mission......... Emerging CDFI Low Risk, Medium
Applicants. Risk, or High Ri

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