Home/Federal/Federal Register/2024-09124

Notice2024-09124

Funding Opportunities: Bank Enterprise Award (BEA) Program; FY 2024 Funding Round

Primary source

Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.

Published

April 29, 2024

Issuing agencies

Treasury DepartmentCommunity Development Financial Institutions Fund

Abstract

This NOFA is issued in connection with the fiscal year (FY) 2024 funding round of the Bank Enterprise Award Program (BEA Program). The BEA Program is administered by the U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund awards formula-based grants to depository institutions that are insured by the Federal Deposit Insurance Corporation (FDIC) for increasing their levels of loans, investments, Service Activities, and Technical Assistance to residents and businesses in the most economically Distressed Communities, and financial assistance and Technical Assistance to Certified Community Development Financial Institutions (CDFIs) through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of assistance, during a specified period.

Full Text

<html>
<head>
<title>Federal Register, Volume 89 Issue 83 (Monday, April 29, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 83 (Monday, April 29, 2024)]
[Notices]
[Pages 33451-33466]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-09124]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

Funding Opportunities: Bank Enterprise Award (BEA) Program; FY
2024 Funding Round

Funding Opportunity Title: Notice of Funds Availability (NOFA)
inviting Applications for the Fiscal Year (FY) 2024 Funding Round of
the Bank Enterprise Award Program (BEA Program).
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2024-BEA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
Dates:

Table 1--FY 2024 BEA Program Funding Round--Critical Deadlines for Applicants
----------------------------------------------------------------------------------------------------------------
Time (Eastern Time--
Description Deadline ET) Submission method
----------------------------------------------------------------------------------------------------------------
OMB Standard Form (SF)-424 May 28, 2024.......... 11:59 p.m. ET......... Electronically via
Mandatory form. <a href="http://Grants.gov">Grants.gov</a>.
Last day to create an AMIS May 28, 2024.......... 11:59 p.m. ET......... Electronically via Awards
Organization account and to enter Management Information
the Employer Identification Number System (AMIS).
(EIN) and the Unique Entity
Identifier (UEI) number in AMIS.
Last day to contact BEA Program June 21, 2024......... 5:00 p.m. ET.......... Service Request via AMIS;
Staff. or <a href="/cdn-cgi/l/email-protection#a1c3c4c0e1c2c5c7c88fd5d3c4c0d28fc6ced7">[email&#160;protected]</a>;
CDFI Fund BEA Helpdesk:
202-653-0421.
Last day to contact Office of June 21, 2024......... 5:00 p.m. ET.......... Service Request via AMIS;
Compliance Monitoring and or OCME Helpdesk: 202-653-
Evaluation (OCME) Help Desk. 0423.
Last day to contact Office of June 21, 2024......... 5:00 p.m. ET.......... Service Request via AMIS;
Certification Policy and <a href="/cdn-cgi/l/email-protection#543b37243137312620143730323d7a20263135277a333b22">[email&#160;protected]</a>;
Evaluation (OCPE) Help Desk. or OCPE Helpdesk: 202-653-
0423.
Last day to contact IT Help Desk June 25, 2024......... 5:00 p.m. ET.......... Service Request via AMIS;
regarding AMIS support only. or CDFI Fund IT Helpdesk:
202-653-042.
Last day to submit Title VI June 25, 2024......... 11:59 pm ET........... Electronically via AMIS.
Compliance Worksheet (all
Applicants).
FY 2024 BEA Program Application and June 25, 2024......... 11:59 pm ET........... Electronically via AMIS.
Required Attachments.
----------------------------------------------------------------------------------------------------------------

Executive Summary: This NOFA is issued in connection with the
fiscal year (FY) 2024 funding round of the Bank Enterprise Award
Program (BEA Program). The BEA Program is administered by the U.S.
Department of the Treasury's Community Development Financial
Institutions Fund (CDFI Fund). Through the BEA Program, the CDFI Fund
awards formula-based grants to depository institutions that are insured
by the Federal Deposit Insurance Corporation (FDIC) for increasing
their levels of loans, investments, Service Activities, and Technical
Assistance to residents and businesses in the most economically
Distressed Communities, and financial assistance and Technical
Assistance to Certified Community Development Financial Institutions
(CDFIs) through equity investments, equity-like loans, grants, stock
purchases, loans, deposits, and other forms of assistance, during a
specified period.

I. Program Description

A. History: The CDFI Fund was established by the Riegle Community
Development and Regulatory Improvement Act of 1994 to promote economic
revitalization and community development through investment in and
assistance to CDFIs.
The BEA Program encourages the community development activities of
banks and thrifts (collectively referred to as banks for purposes of
this NOFA) by providing financial incentives to expand investments in
CDFIs and to increase lending, investments, and Service Activities
within Distressed Communities. Providing monetary awards to banks for
increasing their community development activities leverages the CDFI
Fund's dollars and puts more capital to work in Distressed Communities
throughout the nation.
B. Authorizing Statutes and Regulations: The BEA Program was
authorized by the Bank Enterprise Award Act of 1991, as amended. The
regulations governing the BEA Program can be found at 12 CFR part 1806
(the Interim Rule). The Interim Rule provides the evaluation criteria
and other requirements of the BEA Program. Detailed BEA Program
requirements are also found in the application materials associated
with this NOFA (the Application). The CDFI Fund encourages interested
parties and Applicants to review the authorizing statute, Interim Rule,
this NOFA, the Application, and the Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Administrative Requirements) for a complete
understanding of the BEA Program. Capitalized terms in this NOFA are
defined in the authorizing statute, the Interim Rule, this NOFA, the
Application, or the Uniform Administrative Requirements. Details
regarding Application content requirements are found in the Application
and related materials. Application materials can be found on <a href="http://Grants.gov">Grants.gov</a>
and the CDFI Fund's website at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>.
C. Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (2 CFR part 200): The Uniform
Administrative Requirements codify financial, administrative,
procurement, and program management standards that Federal award-making
agencies and Award Recipients must follow. When evaluating award
applications, awarding agencies must evaluate the risks to the program
posed by each Applicant, and each Applicant's merits and eligibility.
These requirements are designed to ensure that Applicants for Federal

[[Page 33452]]

assistance receive a fair and consistent review prior to an award
decision. This review will assess items such as the Applicant's
financial stability, quality of management systems, history of
performance, and audit findings. In addition, the Uniform Requirements
include guidance on audit requirements and other award requirements
with which Award Recipients must comply.
D. Priorities: Through the BEA Program, the CDFI Fund specifies the
following priorities:
1. Estimated Award Amounts: The award percentage used to derive the
estimated award amount for Applicants that are CDFIs is three times
greater than the award percentage used to derive the estimated award
amount for Applicants that are not CDFIs;
2. Priority Factors: Priority Factors will be assigned based on an
Applicant's asset size, as described in Section V.A.14 of this NOFA
(Application Review Information: Priority Factors); and
3. Priority of Awards: The CDFI Fund will rank Applicants in each
category of Qualified Activity according to the priorities described in
Section V of this NOFA .
E. Baseline Period and Assessment Period Dates: A BEA Program Award
is based on an Applicant's increase in Qualified Activities from the
Baseline Period to the Assessment Period, as reported on an individual
transaction basis in the Application. For the FY 2024 funding round,
the Baseline Period is January 1, 2022 through December 31, 2022, and
the Assessment Period is January 1, 2023 through December 31, 2023.
F. Funding Limitations: The CDFI Fund reserves the right to fund,
in whole or in part, any, all, or none of the Applications submitted in
response to this NOFA. The CDFI Fund also reserves the right to
reallocate funds from the amount that is available through this NOFA to
other CDFI Fund programs, or to reallocate remaining funds to a future
BEA Program funding round, particularly if the CDFI Fund determines
that the number of awards made through this NOFA is fewer than
projected.
G. Persistent Poverty Counties: Pursuant to the Consolidated
Appropriations Act, 2024 (Pub. L. 118-42), Congress mandated that at
least ten percent of the CDFI Fund's appropriations be directed to
counties that meet the criteria for ``Persistent Poverty'' designation.
Persistent Poverty Counties (PPCs) are defined as any county, including
county equivalent areas in Puerto Rico, that has had 20 percent or more
of its population living in poverty over the past 30 years, as measured
by the 1990, 2000, and 2010 decennial censuses, and the 2016-2020 5-
year data series available from the American Community Survey of the
Census Bureau or any other territory or possession of the United States
that has had 20 percent or more of its population living in poverty
over the past 30 years, as measured by the 1990, 2000 and 2010 Island
Areas Decennial Censuses, or equivalent data, of the Bureau of the
Census and published by the CDFI Fund at: <a href="https://www.cdfifund.gov/sites/cdfi/files/2023-03/PPC_2020_ACS_Jan20_2023.xlsx">https://www.cdfifund.gov/sites/cdfi/files/2023-03/PPC_2020_ACS_Jan20_2023.xlsx</a>. Applicants that
apply under this NOFA will be required to indicate the percentage of
the BEA Program Award that the Applicant will commit to investing in
PPCs.

II. Federal Award Information

A. Funding Availability: The CDFI Fund expects to award up to $40
million for the FY 2024 BEA Program Award round under this NOFA. The
CDFI Fund reserves the right to award in excess of said funds under
this NOFA, provided that the appropriated funds are available. The
minimum award size will be $10,000. The maximum award size is $1
million; however, the CDFI Fund reserves the right to impose a lower
maximum award amount based on Application demand and availability of
funds.
B. Types of Awards: BEA Program Awards are made in the form of
grants.
C. Anticipated Start Date and Period of Performance: The CDFI Fund
anticipates the period of performance for the FY 2024 funding round
will begin in the fall of calendar year 2024. Specifically, the Period
of Performance begins on the Federal Award Date and will conclude at
least one (1) full year after the Federal Award Date as further
specified in the BEA Program Award Agreement (Award Agreement), during
which the Award Recipient must meet the performance goals set forth in
the Award Agreement.
D. Eligible Activities: Eligible activities for BEA Program
Applicants are referred to as Qualified Activities and are defined in
the Interim Rule to include CDFI Related Activities, Distressed
Community Financing Activities, and Service Activities (12 CFR
1806.103).
CDFI Related Activities (12 CFR 1806.103) means CDFI Equity and
CDFI Support Activities. CDFI Equity consists of Equity Investments,
Equity-Like Loans, and Grants. CDFI Support Activities includes
Certificates of Deposits, Loans, and Technical Assistance.
Distressed Community Financing Activities (12 CFR 1806.103) means
Consumer Loans and Commercial Loans and Investments. Consumer Loans
include Affordable Housing Loans; Education Loans; Home Improvement
Loans; and Small Dollar Consumer Loans. Commercial Loans and
Investments includes Affordable Housing Development Loans and related
Project Investments; Commercial Real Estate Loans and related Project
Investments; and Small Business Loans and related Project Investments.
Service Activities (12 CFR 1806.103) include Deposit Liabilities,
Financial Services, Community Services, Targeted Financial Services,
and Targeted Retail Savings/Investment Products.
When calculating BEA Program Award amounts, the CDFI Fund will only
consider the amount of a Qualified Activity that has been fully
disbursed, subject to the requirements outlined in Section VI of this
NOFA. In the case of Commercial Real Estate Loans and related Project
Investments, the total principal amount of the transaction must be $10
million or less to be considered a Qualified Activity. Notwithstanding
the foregoing, the CDFI Fund, in its sole discretion, may consider
transactions with a total principal value of over $10 million, subject
to review.
An activity funded with prior BEA Program Award dollars or funded
to satisfy requirements of an Award Agreement from a prior BEA Program
award or an agreement under any CDFI Fund program, shall not constitute
a Qualified Activity for the purposes of calculating or receiving an
award under this NOFA.
E. Distressed Community: A Distressed Community must meet certain
minimum geographic area and eligibility requirements, which are defined
in the Interim Rule in 12 CFR 1806.103 and more fully described in 12
CFR 1806.401. Applicants should use the CDFI Information Mapping System
(CIMS) mapping tool to determine whether a Baseline Period activity or
Assessment Period activity is located in a qualified Distressed
Community. The CIMS mapping tool can be accessed through AMIS or the
CDFI Fund's website at <a href="https://www.cdfifund.gov/Pages/mapping-system.aspx">https://www.cdfifund.gov/Pages/mapping-system.aspx</a>. The CIMS mapping tool contains a step-by-step training
manual on how to use the tool. In addition, further instructions to
determine whether an activity is located in a qualified BEA Distressed
Community can be located in the BEA Program Application CIMS3
Instructions document in the ``Application Materials'' section of the

[[Page 33453]]

BEA web page on the CDFI Fund's website located here: <a href="https://www.cdfifund.gov/programs-training/programs/bank-enterprise-award/apply-step">https://www.cdfifund.gov/programs-training/programs/bank-enterprise-award/apply-step</a>. If you have any questions or issues accessing the CIMS
mapping tool, please contact the CDFI Fund IT Help Desk via an AMIS
Service Request (select IT) or telephone at (202) 653-0300.
Please note that a Distressed Community as defined by the BEA
Program is not the same as an Investment Area as defined by the CDFI
Program, a Low-Income Community as defined by the NMTC Program, or an
Area of Economic Distress as defined by the Capital Magnet Fund
Program.
1. Designation of Distressed Community by a CDFI Partner: CDFI
Partners that receive CDFI Support Activities in the form of loans,
Technical Assistance or deposits from an Applicant must be integrally
involved in a Distressed Community. Applicants must provide evidence
that each CDFI Partner that is the recipient of CDFI Support Activities
is integrally involved in a Distressed Community, as noted in the
Application. CDFI Partners that receive Equity Investments, Equity-Like
Loans or Grants are not required to demonstrate Integral Involvement.
Additional information on Integral Involvement can be found in Section
V of this NOFA.
2. Distressed Community Determination by a BEA Applicant:
Applicants applying for a BEA Program Award for performing Distressed
Community Financing Activities or Service Activities must verify that
addresses of both Baseline Period and Assessment Period activities are
in Distressed Communities when completing their Application.
A BEA Applicant shall determine an area is a Distressed Community
by:
a. selecting a census tract where the Qualified Activity occurred
that meets the minimum area and eligibility requirements; or
b. selecting the census tract where the Qualified Activity
occurred, plus one or more census tracts directly contiguous to where
the Qualified Activity occurred, that when considered in the aggregate,
meet the minimum area and eligibility requirements set forth in this
section.
F. Award Agreement: Each Award Recipient under this NOFA must
electronically sign an Award Agreement via AMIS prior to payment of the
award proceeds by the CDFI Fund. The Award Agreement contains the terms
and conditions of the award. For further information, see Section VI.
of this NOFA.
G. Use of Award: It is the policy of the CDFI Fund that BEA Program
Awards may not be used by Award Recipients to recover overhead or
Indirect Costs. The Award Recipient may use up to 15 percent of the
total BEA Program Award amount on Qualified Activities as Direct
Administrative Expenses. ``Direct Administrative Expenses'' shall mean
Direct Costs, as described in section 2 CFR 200.413 of the Uniform
Requirements, which are incurred by the Award Recipient to carry out
the Qualified Activities. Such costs must be able to be specifically
identified with the Qualified Activities and not also recovered as
Indirect Costs. ``Indirect Costs'' means costs or expenses defined in
accordance with section 2 CFR 200.1 of the Uniform Requirements. In
addition, the Award Recipient must comply, as applicable, with the Buy
American Act of 1933, 41 U.S.C. 8301-8303 and section 2 CFR 200.216 of
the Uniform Requirements,\1\ with respect to any Direct Costs.
---------------------------------------------------------------------------

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

III. Eligibility Information

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

Table 2--Eligibility Requirements for BEA Applicants
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Eligible Applicants............... <bullet> Eligible Applicants for the
BEA Program must be Insured
Depository Institutions, as defined
in the Interim Rule.
<bullet> For the FY 2024 funding
round, an Applicant must have been
FDIC-insured as of the first day of
the Baseline Period, January 1,
2022, and maintain its FDIC-insured
status at the time of Application
submission.
<bullet> The depository institution
holding company of an Insured
Depository Institution may not
apply on behalf of an Insured
Depository Institution.
Applications received from
depository institution holding
companies will be disqualified.
CDFI Applicant.................... <bullet> For the FY 2024 funding
round, an eligible Certified-CDFI
Applicant is an Insured Depository
Institution that is one of the
following: (1) is certified as a
CDFI as of December 31, 2023 (end
of the Assessment Period) and
remains certified at the time BEA
Program Awards are announced; OR
(2) has submitted a CDFI
Certification Application by May
28, 2024 and receives its status as
a Certified CDFI by the time BEA
Program Awards are announced.
<bullet> No Applicant may receive a
FY 2024 BEA Program Award, either
directly or through a community
partnership, if it has: (1) an
application pending for assistance
under the CDFI Program; (2) been
awarded assistance from the CDFI
Fund under the CDFI Program within
the 12-month period prior to the
Federal Award Date of the FY 2024
BEA Program Award Agreement; (3)
ever received assistance under the
CDFI Program based on the same
activities during the same period
for which it is seeking a FY 2024
BEA Program Award; or (4) ever
received assistance from another
CDFI Fund program or federal
program based on the same
activities during the same period
for which it is seeking a FY 2024
BEA Program Award.

[[Page 33454]]

Application and submission in <bullet> The CDFI Fund will only
<a href="http://Grants.gov">Grants.gov</a> and Awards Management accept Applications that use the
Information System (AMIS). official Application templates
provided on <a href="http://Grants.gov">Grants.gov</a> and AMIS.
Applications submitted with
alternative or altered templates
will not be considered.
<bullet> Applicants undergo a two-
step process that requires the
submission of Application documents
by two separate deadlines in two
different locations: (1) the SF-424
in <a href="http://Grants.gov">Grants.gov</a> and (2) all other
Required Application Documents in
AMIS.
<bullet> <a href="http://Grants.gov">Grants.gov</a> and the Standard
Form 424 (SF-424):
[cir] Applicants must submit the
SF-424, Application for Federal
Assistance, through <a href="http://Grants.gov">Grants.gov</a>.
[cir] All Applicants must
register in the <a href="http://Grants.gov">Grants.gov</a>
system to successfully submit an
Application. The CDFI Fund
strongly encourages Applicants
to register as soon 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 federal
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. Applicants are strongly
encouraged to submit their SF-
424 as early as possible in the
<a href="http://Grants.gov">Grants.gov</a> portal. 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 BEA Program
Funding Opportunity Number.
[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:
[cir] The CDFI Fund's Award
Management Information System
(AMIS) is an enterprise-wide
information technology system
(<a href="http://amis.cdfifund.gov">amis.cdfifund.gov</a>). Applicants
will use AMIS to submit and
store organization and
Application information with the
CDFI Fund.
[cir] Applicants are only allowed
one BEA Program Application
submission in AMIS.
[cir] Each Application in AMIS
must be signed by an Authorized
Representative.
[cir] Applicants must ensure that
the Authorized Representative is
an employee or officer of the
Applicant, authorized to sign
legal documents on behalf of the
organization. Consultants
working on behalf of the
organization may not be
designated as Authorized
Representatives.
[cir] Only the Authorized
Representative or Application
Point of Contact listed as an
Organization Contact 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.
<bullet> The CDFI Fund will not
extend the deadline for any
Applicant except in the case of a
federal government administrative
or federal 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 by the
deadline specified in Table 1.
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> The CDFI Fund will reject
an Application submitted with the
UEI number of a parent or Affiliate
organization.
<bullet> The UEI number in the
Applicant's AMIS account must match
the UEI number in the Applicant's
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts. The
CDFI Fund will reject an
Application if the UEI number in
the Applicant's AMIS account does
not match the UEI number in its
<a href="http://Grants.gov">Grants.gov</a> and SAM accounts.
<bullet> Applicants must enter their
UEI number into their AMIS profile
on or before the deadline specified
in Table 1.
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
(<a href="http://SAM.gov">SAM.gov</a>).
<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 are already
assigned a UEI. Applicants must
also have an EIN number in order to
register in SAM.
<bullet> Applicants must be
registered in SAM in order to
submit an SF-424 in <a href="http://Grants.gov">Grants.gov</a>.
<bullet> The CDFI Fund reserves the
right to deem an Application
ineligible if the Applicant's SAM
account expires during the time
period between the submission of
the Applicant's SF-424 and the
Award announcement, 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 its Application and all
required documents through the AMIS
portal (<a href="http://amis.cdfifund.gov">amis.cdfifund.gov</a>).

[[Page 33455]]

<bullet> The Application of any
organization that does not properly
register in AMIS by the deadline
set forth in Table 1 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 BEA
Program Award.
Compliance with Nondiscrimination <bullet> An Applicant may not be
and Equal Opportunity Statutes, eligible to receive a BEA Award if
Regulations, and Executive Orders. proceedings have been instituted
against it in, by, or before any
court, governmental agency, or
administrative body, and a final
determination within the time
period beginning three years prior
to the publication of this NOFA
until the execution of the Award
Agreement that indicates the
Applicant has violated any federal
civil rights laws or regulations,
including but not limited to: Title
VI of the Civil Rights Act of 1964,
as amended (42 U.S.C.2000d et
seq.); 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); the Age Discrimination
Act of 1975, (42 U.S.C. 6101-6107);
and Title IX of the Education
Amendments of 1972 (20 U.S.C. 1681
et seq.).
<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 of 1964
(Title VI), set forth 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 may
have pending Title VI noncompliance
issues; however, until the CDFI
Fund makes a final determination
that the Applicant is Title VI
compliant, it will not enter into
an Award Agreement.
<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> The depository institution
Company. holding company of an Insured
Depository Institution may not
apply on behalf of an Insured
Depository Institution.
Applications received from
depository institution holding
companies will be disqualified.
Regulated Institutions............ <bullet> Eligible Applicants for the
BEA Program must be Insured
Depository Institutions, as defined
in the Interim Rule.
Use of Award...................... <bullet> All awards made through
this NOFA must be used to support
the Applicant's Eligibility
Activities per Section II (D).
<bullet> 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.
Pending resolution of <bullet> If an Applicant (or
noncompliance or default. Affiliate of an Applicant) that is
a prior Recipient or Allocatee
under any CDFI Fund program: (i)
Has demonstrated it has been in
noncompliance 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 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 (or Affiliate of such
Applicant) is in noncompliance with
or default of a previously executed
assistance agreement, award
agreement, allocation agreement,
bond loan agreement, or agreement
to guarantee, and (ii) the CDFI
Fund has provided written
notification that such entity is
ineligible to apply for or receive
any future CDFI Fund awards or
allocations. Such entities will be
ineligible to submit an Application
for such time period as specified
by the CDFI Fund in writing.
<bullet> The CDFI Fund will not
consider any Applicant that has
defaulted on a loan from the CDFI
Fund within five years of the
Application deadline.
Debarment/Do Not Pay Verification. <bullet> The CDFI Fund will conduct
a debarment check and will not
consider an Application submitted
by an Applicant (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.
------------------------------------------------------------------------

[[Page 33456]]

B. Prior Award Recipients: Prior BEA Program Award Recipients and
prior Award Recipients of other CDFI Fund programs are eligible to
apply under this NOFA, except as noted in the following table:

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

C. Contact the CDFI Fund: Accordingly, Applicants that are prior
Award Recipients and/or Allocatees under any CDFI Fund program are
advised to comply with requirements specified in an assistance
agreement, award agreement, allocation agreement, bond loan agreement,
or agreement to guarantee. All outstanding reports and compliance
questions should be directed to the Certification, Compliance
Monitoring and Evaluation helpdesk by submitting a BEA Compliance and
Reporting AMIS Service Request or by telephone at (202) 653-0423. The
CDFI Fund will respond to Applicants' reporting, compliance, or
disbursement questions between the hours of 9:00 a.m. and 5:00 p.m. ET,
starting on the date of the publication of this NOFA. The CDFI Fund
will not respond to Applicants' reporting, compliance, or disbursement
telephone calls or electronic inquiries received after 5:00 p.m. ET on
June 21, 2024, until after the Application deadline. The CDFI Fund will
respond to technical issues related to AMIS Accounts through 5:00 p.m.
ET on June 25, 2024, via an IT AMIS Service Request, email at
<a href="/cdn-cgi/l/email-protection#16575b5f45567572707f38626473776538717960">[email&#160;protected]</a>, or by telephone at (202) 653-0422.
D. Cost sharing or matching fund requirements: Not applicable.

IV. Application and Submission Information

A. Address to Request an Application Package: Application materials
can be found on <a href="http://Grants.gov">Grants.gov</a> and the CDFI Fund's website at
<a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>. If an Applicant is unable to access <a href="http://Grants.gov">Grants.gov</a> or
the CDFI Fund's website, an Applicant may request a paper version of
any Application material by contacting the CDFI Fund Help Desk at
<a href="/cdn-cgi/l/email-protection#accec9cdeccfc8cac582d8dec9cddf82cbc3da">[email&#160;protected]</a> or (202) 653-0421.
B. Content and Form of Application Submission: The CDFI Fund will
post to its website, at <a href="http://www.cdfifund.gov/bea">www.cdfifund.gov/bea</a>, instructions for
accessing and submitting an Application. Detailed Application content
requirements are found in the Application and related guidance
documents. All Application materials must be prepared using the English
language and calculations must be made in U.S. dollars. Applicants must
submit all required documents identified in the FY 2024 BEA Program
Application Instructions for the Application to be deemed complete. 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.
C. Application Submission: The CDFI Fund has a two-step submission
process for BEA Applications that requires the submission of required
application information on two separate deadlines and in two separate
systems. The SF-424 form must be submitted through <a href="http://Grants.gov">Grants.gov</a>, and all
other Application documents through the AMIS portal. The CDFI Fund will
not accept Applications via email, mail, facsimile, or other forms of
communication, except in extremely rare circumstances that have been
pre-approved by the CDFI Fund. The separate Application deadlines for
the SF-424 and all other Application materials are listed in Table 1
and Table 4. Only the Authorized Representative for the Organization or
Application Point of Contact designated in AMIS may submit the
Application through AMIS.
Applicants are strongly encouraged to submit the SF-424 as early as
possible through <a href="http://Grants.gov">Grants.gov</a> in order to provide sufficient time to
resolve any potential submission issues. Applicants should contact
<a href="http://Grants.gov">Grants.gov</a> directly with questions related to the registration or
submission process, as the CDFI Fund does not administer the <a href="http://Grants.gov">Grants.gov</a>
system. The CDFI Fund strongly encourages Applicants to start the
<a href="http://Grants.gov">Grants.gov</a> registration process as soon as possible, as it may take
several weeks to complete (refer to the following link: <a href="http://www.grants.gov/web/grants/register.html">http://www.grants.gov/web/grants/register.html</a>). An Applicant that has
previously registered with <a href="http://Grants.gov">Grants.gov</a> must verify that its registration
is current and active. If an Applicant has not previously registered
with <a href="http://Grants.gov">Grants.gov</a>, it must first successfully register in <a href="http://SAM.gov">SAM.gov</a>, as
described in Section IV.D below.
D. System for Award Management: 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
materials through that platform. When accessing <a href="http://SAM.gov">SAM.gov</a>, users will be
asked to create a <a href="http://login.gov">login.gov</a> user account (if they do not already have
one). Registration in SAM is required as part of the <a href="http://Grants.gov">Grants.gov</a>
registration process. Going forward, users will use their <a href="http://login.gov">login.gov</a>
username and password every time when logging into <a href="http://SAM.gov">SAM.gov</a>. The SAM
registration process can take four weeks or longer to complete, so
Applicants are strongly encouraged to begin the registration process
upon publication of this NOFA in order to avoid potential Application
submission issues. An original, signed

[[Page 33457]]

notarized letter identifying the authorized entity administrator for
the entity associated with the UEI number is required by SAM and must
be mailed to the Federal Service Desk. This requirement is applicable
to new entities registering in SAM or on existing registrations where
there is no existing entity administrator. Existing entities with
registered entity administrators do not need to submit an annual
notarized letter. Applicants that have previously completed the SAM
registration process must verify that their SAM accounts are current
and active. Applicants are required to maintain a current and active
SAM account at all times during which it has an active federal award or
an Application under consideration for an award by a federal awarding
agency.
The CDFI Fund will not consider any Applicant that fails to
properly register or activate its SAM account and, as a result, is
unable to submit its Application by the Application deadline.
Applicants must contact SAM directly with questions related to
registration or SAM account changes, as the CDFI Fund does not maintain
this system. For more information about SAM, please visit <a href="https://www.sam.gov">https://www.sam.gov</a> or call 866-606-8220.
E. Unique Entity Identifier: The Unique Entity Identifier (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 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>, 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.
F. Submission Dates and Times: Table 4 lists the deadlines for
submission of the documents related to the FY 2024 BEA Program Funding
Round.

Table 4--Submission Deadlines for the FY 2024 BEA Funding Round
------------------------------------------------------------------------
Description Deadline Time (Eastern Time)
------------------------------------------------------------------------
OMB Standard Form (SF)-424 May 28, 2024... 11:59 p.m. ET.
Mandatory Form.
Submission Method:
Electronically via
<a href="http://Grants.gov">Grants.gov</a>..
Title VI Compliance Worksheet June 25, 2024.. 11:59 pm ET.
(all Applicants).
FY 2024 BEA Program AMIS June 25, 2024.. 11:59 pm ET.
Application and Required
Attachments.
Submission Method:
Electronically via AMIS..
------------------------------------------------------------------------

G. Confirmation of Application Submission in <a href="http://Grants.gov">Grants.gov</a> and AMIS:
Applicants are required to submit the SF-424 Mandatory Form through the
<a href="http://Grants.gov">Grants.gov</a> system under the FY 2024 BEA Program Funding Opportunity
Number (listed at the beginning of this NOFA). All other required
Application materials must be submitted through AMIS. Application
materials submitted through each system are due by the applicable
deadline listed in Table 1 and Table 4. Applicants must submit the SF-
424 by an earlier deadline than that of the other required Application
materials in AMIS. If a valid SF-424 is not submitted through
<a href="http://Grants.gov">Grants.gov</a> by the corresponding deadline, the Applicant will not be
able to submit the additional Application materials in AMIS, and the
Application will be deemed ineligible. Thus, Applicants are strongly
encouraged to submit the SF-424 as early as possible in the <a href="http://Grants.gov">Grants.gov</a>
portal, given that potential submission issues may impact the ability
to submit a complete Application.
(a) <a href="http://Grants.gov">Grants.gov</a> Submission Information: Each Applicant will receive
an initial 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 forty-eight (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 checking <a href="http://Grants.gov">Grants.gov</a> directly. The
Application materials submitted in AMIS are not accepted by the CDFI
Fund until <a href="http://Grants.gov">Grants.gov</a> has validated the SF-424. In the <a href="http://Grants.gov">Grants.gov</a>
Workspace function, please note that the Application package has not
been submitted if you have not received a tracking number.
(b) AMIS Submission Information: AMIS is a web-based portal where
Applicants will directly enter their Application information and upload
required documents identified in the FY 2024 BEA Program Application
Instructions. Each Applicant must register as an organization in AMIS
in order to submit the required Application materials through this
portal. 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 the Applicant to allow sufficient time to
confirm the Application content, review the material submitted, and
remedy any issues prior to the Application deadline. Applicants can
only submit one Application in AMIS. Upon submission, the Application
will be locked and cannot be resubmitted, edited, or modified in any
way. The CDFI Fund will not unlock or allow multiple AMIS Application
submissions.
Prior to submission, each Application in AMIS must be signed by an
Authorized Representative. An Authorized Representative is an employee
or officer and has the authority to legally bind and make
representations on behalf of the Applicant; consultants working on
behalf of the Applicant cannot be designated as Authorized
Representatives. The Applicant may include consultants as Application
point(s) of contact, who will be included on any communication
regarding the Application and will be able to submit the Application
but cannot sign the Application. The Authorized Representative and/or
Application point(s) of contact must be included as ``Contacts'' in the
Applicant's AMIS account. The Authorized Representative must also be a
``user'' in AMIS. An Applicant that fails to properly register and
update its AMIS account may miss important communications from the CDFI
Fund or fail to submit an Application successfully. Only an Authorized
Representative for the organization or an Application point of contact
can submit

[[Page 33458]]

the Application in AMIS. After submitting its Application, the
Applicant will not be permitted to revise or modify its Application in
any way or attempt to negotiate the terms of an Award.
(c)Multiple Application Submissions: Applicants are only permitted
to submit one complete Application. However, the CDFI Fund does not
administer <a href="http://Grants.gov">Grants.gov</a>, which does allow for multiple submissions of the
SF-424. If an Applicant submits multiple SF-424 Applications in
<a href="http://Grants.gov">Grants.gov</a>, the CDFI Fund will only review the SF-424 Application
submitted in <a href="http://Grants.gov">Grants.gov</a> that is attached to the AMIS Application.
Applicants can only submit one Application through AMIS.
(d) Late Submission or AMIS Account Creation: The CDFI Fund will
not accept an SF-424 submitted after the applicable <a href="http://Grants.gov">Grants.gov</a>, an AMIS
Application submitted after the AMIS Application deadline, or an
Application from an Applicant that failed to create an AMIS account by
the deadlines specified in Table 1 and Table 4, or if an Applicant did
not submit the required Title VI Compliance Worksheet by the
Application deadline listed in Table 1 and Table 4, except where the
submission delay was a direct result of a federal government
administrative or federal government technological error. This
exception includes any errors associated with <a href="http://Grants.gov">Grants.gov</a>, <a href="http://SAM.gov">SAM.gov</a>,
AMIS, or any other applicable government system. In cases that are not
the direct result of a federal government administrative or federal
government technological error, 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. The CDFI Fund will not consider the late submission of the
SF-424, the Application, the Title VI Compliance worksheet, or the late
creation of an AMIS account that was a direct result of a delay in a
federal government process, unless such delay was the result of a
federal government administrative or technological error.
(1) Creation of AMIS Account: In cases where a federal government
administrative or technological error directly precluded 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 with a subject line of ``BEA Program--AMIS Account
Creation Deadline Extension Request.''
(2) SF-424 Late Submission: In cases where a federal government
administrative or federal government technological error directly
resulted in the late submission of the SF-424, the Applicant must
submit a written request for acceptance of the late SF-424 submission
and include documentation of the error no later than two business days
after the SF-424 deadline. The CDFI Fund will not respond to requests
for acceptance of late SF-424 submissions after that period. Applicants
must submit late SF-424 submission requests to the CDFI Fund via an
AMIS service request to the BEA Program with a subject line of ``BEA
Program--Late SF-424 Submission Request.''
(3) 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 BEA Program with a subject line of ``BEA
Program--Title VI Compliance Worksheet Deadline Extension Request.''
(4) AMIS Application Late Submission: In cases where a federal
government administrative or federal government technological error
directly resulted in a late submission of the Application in AMIS, the
Applicant must submit a written request for acceptance of the late
Application submission and include documentation of the error no later
than two business days after the Application deadline. The CDFI Fund
will not respond to requests for acceptance of late AMIS Application
submissions after that time period. Applicants must submit late
Application submission requests to the CDFI Fund via an AMIS service
request to the BEA Program with a subject line of ``BEA Program--Late
Application Submission Request.''
H. Funding Restrictions: BEA Program Awards are limited by the
following:
1. The Award Recipient shall use BEA Program Award funds only for
the eligible activities described in Section II. D. of this NOFA and
the Authorized BEA Program Activities described in its Award Agreement.
2. The Award Recipient may not distribute BEA Program Award funds
to an Affiliate, Subsidiary, or any other entity, without the CDFI
Fund's prior written approval.
3. BEA Program Award funds shall only be disbursed to the Award
Recipient.
4. The CDFI Fund, in its sole discretion, may disburse BEA Program
Award funds in amounts, or under terms and conditions, which are
different from those requested by an Applicant.
I. Other Submission Requirements: None.

V. Application Review Information

A. Contacting Applicant for Clarification: If the Applicant
submitted a complete and eligible Application, the CDFI Fund will
conduct a substantive review in accordance with the criteria and
procedures described in the Regulations, this NOFA, the Application
guidance, and the Uniform Requirements. The CDFI Fund reserves the
right to contact the Applicant by telephone, email, or mail for the
sole purpose of clarifying or confirming Application information. If
contacted, the Applicant must respond within the time period
communicated by the CDFI Fund or run the risk that the Applicant's
Application will be rejected.
B. Personally Identifiable Information (PII): The CDFI Fund will
not collect or accept any Personally Identifiable Information (PII) in
AMIS or in any of the Application submission materials. PII is
information, which if lost, compromised, or disclosed without
authorization, could result in substantial harm, embarrassment,
inconvenience, or unfairness to an individual. Although Applicants are
required to enter addresses of individual borrowers or residents of
Distressed Communities in AMIS, Applicants must not include the
following PII for the individuals who received the financial products
or services in AMIS or in the supporting documentation: name of the
individual, Social Security Number, driver's license or state
identification

[[Page 33459]]

number, passport number, and Alien Registration Number. This
information should be redacted from all supporting documentation. If
the CDFI Fund discovers PII during the review of an Application, the
transaction will be deleted from the application record and deemed
ineligible.
C. Qualified Activities Criteria and Requirements: Applicants may
submit transactions for Qualified Activities for the categories
outlined below. Applicants must provide all required transaction
information in the AMIS Application as required in this NOFA and the FY
2024 BEA Program Application Instructions. If an Applicant fails to
provide the mandatory information on a transaction, it will be deemed
ineligible for the purposes of calculating the BEA Award amount.
1. CDFI Related Activities: For CDFI Related Activities, Applicants
may select transactions in the following two sub-categories: (1) CDFI
Equity; and (2) CDFI Support Activities.
(1) CDFI Equity: This sub-category includes the following three
components: a. Equity Investments; and b. Equity-Like Loans. Additional
requirements and limitations for this sub-category are described in
Parts c. through e.
a. Equity Investment: An Equity Investment means financial
assistance provided by an Applicant or its Subsidiary to a CDFI, which
CDFI meets such criteria as set forth in this NOFA, in the form of a
grant, a stock purchase, a purchase of a partnership interest, a
purchase of a limited liability company membership interest, or any
other investment deemed to be an Equity Investment by the CDFI Fund.
b. Equity-Like Loan: An Equity-Like Loan is a loan provided by an
Applicant or its Subsidiary to a CDFI and made on such terms that it
has characteristics of an Equity Investment, as such characteristics
may be specified by the CDFI Fund (12 CFR 1806.103). For purposes of
this NOFA, an Equity-Like Loan must meet the following characteristics:
(i) At the end of the initial term, the loan must have a definite
rolling maturity date that is automatically extended on an annual basis
if the CDFI borrower continues to be financially sound and carry out a
community development mission;
(ii) Periodic payments of interest and/or principal may only be
made out of the CDFI borrower's available cash flow after satisfying
all other obligations;
(iii) Failure to pay principal or interest (except at maturity)
will not automatically result in a default of the loan agreement; and
(iv) The loan must be subordinated to all other debt except for
other Equity-Like Loans. Notwithstanding the foregoing, the CDFI Fund
reserves the right to determine, in its sole discretion and on a case-
by-case basis, whether an instrument meets the above-stated
characteristics of an Equity-Like Loan.
c. CDFI Partner: CDFI Partner is defined as a Certified CDFI that
has been provided assistance in the form of CDFI Related Activities by
an unaffiliated Applicant (12 CFR 1806.103). For the purposes of this
NOFA, an eligible CDFI Partner that receives CDFI Support Activities
from an Applicant must be Integrally Involved in a Distressed Community
and have been certified as a CDFI as of the date that the BEA Applicant
made its investment or provided support.
d. Limitations on eligible Qualified Activities provided to certain
CDFI Partners: A CDFI Applicant cannot receive credit for any financial
assistance or Qualified Activities provided to a CDFI Partner that is
also an FDIC-insured depository institution or a depository institution
holding company.
e. CDFI Program Matching Funds: Equity Investments, Equity-Like
Loans, and CDFI Support Activities (except Technical Assistance)
provided by a BEA Applicant to a CDFI and used by the CDFI for matching
funds under the CDFI Program are eligible as a Qualified Activity under
the CDFI Related Activity category.
(2) CDFI Support Activity: A CDFI Support Activity is defined as
assistance provided by an Applicant or its Subsidiary to a CDFI that is
Integrally Involved in a Distressed Community, in the form of
certificates of deposits, loans, or Technical Assistance. This sub-
category consists of three components: (a) Certificates of Deposits;
(b) Loans; and (c) Technical Assistance. Additional requirements and
limitations for this sub-category are described in Part (d).
(a) Certificates of Deposit: A Certificate of Deposit (CD), a CDFI
Support Activity, placed by an Applicant or its Subsidiary in a CDFI
Partner that is a bank, thrift, or credit union must be: (i) uninsured
and committed for at least three years; or (ii) insured, committed for
a term of at least three years, and provided at an interest rate that
is materially below market rates, in the determination of the CDFI
Fund.
i. For purposes of this NOFA, ``materially below market interest
rate'' is defined as an annual percentage rate that does not exceed the
yields on Treasury securities at constant maturity as interpolated by
Treasury from the daily yield curve and available on the Treasury
website at <a href="http://www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml">www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml</a>. For example, for a three-year CD, Applicants
should use the three-year rate U.S. Government securities, Treasury
Yield Curve Rate posted for that business day. The Treasury updates the
website daily at approximately 5:30 p.m. ET. CDs placed prior to that
time may use the rate posted for the previous business day. The annual
percentage rate on a CD should be compounded daily, quarterly, semi-
annually, or annually. If a variable interest rate is used, the CD must
also have an interest rate that is materially below the market interest
rate over the life of the CD, in the determination of the CDFI Fund. If
a variable rate is used, the Applicant must describe its methodology
for determining that the interest rate over the life of the CD is a
materially below market interest rate. The CDFI Fund reserves the right
to follow up with an Applicant regarding variable interest rate CD
transactions.
ii. For purposes of this NOFA, a deposit placed by an Applicant
directly with a CDFI Partner that participates in a deposit network or
service may be treated as eligible under this NOFA if it otherwise
meets the criteria for deposits specified in this NOFA and the CDFI
Partner retains the full amount of the initial deposit or an amount
equivalent to the full amount of the initial deposit through a deposit
network exchange transaction.
(b) Loans: Loans, a CDFI Support Activity, refers to an Applicant
providing loans to an Eligible CDFI Partner.
(c) Technical Assistance: Technical Assistance, a CDFI Support
Activity, refers to the provision of consulting services, resources,
training, and other nonmonetary support to an Eligible CDFI Partner
relating to an organization, individual, or operation of a trade or
business.
(d) Integrally Involved: Integrally Involved is defined at 12 CFR
1806.103. For purposes of this NOFA, in order for an Applicant to
report CDFI Support Activities in its Application, the CDFI Partner
which received the support must be deemed to be Integrally Involved by
demonstrating it has: (i) provided at least 10 percent of the number of
its financial transactions or dollars transacted (e.g., loans or Equity
Investments), or 10 percent of the number of its Development Service
Activities (as defined in 12 CFR

[[Page 33460]]

1805.104) or value of the administrative cost of providing such
services, in one or more Distressed Communities identified by the CDFI
Partner, in each of the three calendar years preceding the date of this
NOFA; or (ii) transacted at least 25 percent of the number of its
financial transactions or dollars transacted (e.g., loans or equity
investments) in one or more Distressed Communities in at least one of
the three calendar years preceding the date of this NOFA, or 25 percent
of the number of its Development Service Activities (as defined in 12
CFR 1805.104) or value of the administrative cost of providing such
services, in one or more Distressed Communities identified by the CDFI
Partner, in at least one of the three calendar years preceding the date
of this NOFA; or (iii) demonstrated that it has attained at least 10
percent of market share for a particular financial product in one or
more Distressed Communities (such as home mortgages originated in one
or more Distressed Communities) in at least one of the three calendar
years preceding the date of this NOFA; or (iv) at least 25 percent of
the CDFI Partner's physical locations (e.g., offices or branches) are
located in one or more Distressed Communities where it provided
financial transactions or Development Service Activities during the one
calendar year preceding the date of the NOFA.
2. Distressed Community Financing Activities and Service
Activities: Distressed Community Financing Activities comply with
consumer protection laws and are defined as the following: (1) Consumer
Loans; or (2) Commercial Loans and Investments. In addition to the
requirements set forth in the Interim Rule, this NOFA provides the
following additional requirements:
(1) Consumer Loans: Consumer Loans is a sub-category of Distressed
Community Financing Activities and is defined as the following lending
activity types: a. Affordable Housing Loans; b. Education Loans; c.
Home Improvement Loans; and d. Small Dollar Consumer Loans.
a. Affordable Housing Loans: Affordable Housing Loans are Consumer
Loans that refer to the origination of a loan to finance the purchase
or improvement of the borrower's primary residence, and that is secured
by such property, where such borrower is an Eligible Resident who meets
Low- and Moderate-Income requirements.
b. Education Loans: Education Loans are Consumer Loans that refer
to an advance of funds to a student who is an Eligible Resident who
meets Low- and Moderate-Income requirements for the purpose of
financing a college or vocational education.
c. Home Improvement Loans: Home Improvement Loans are Consumer
Loans that refer to an advance of funds, either unsecured or secured by
a one-to-four family residential property, the proceeds of which are
used to improve the borrower's primary residence, where such borrower
is an Eligible Resident who meets Low- and Moderate-Income
requirements.
d. Small Dollar Consumer Loans: For purposes of this NOFA, eligible
Small Dollar Consumer Loans are responsible and affordable loans that
serve as available alternatives to the marketplace for individuals who
are Eligible Residents who meet Low- and Moderate-Income requirements
with a total principal value of no less than $500 and no greater than
$5,000 and have a term of ninety (90) days or more. A responsible Small
Dollar Loan generally considers the borrower's ability to repay and may
also reflect repayment terms, pricing, and safeguards that minimize
adverse customer outcomes, including cycles of debt due to rollovers or
reborrowing.
(2) Commercial Loans and Investments: Commercial Loans and
Investments is a sub-category of Distressed Community Financing
Activities and is defined as the following lending activity types: a.
Affordable Housing Development Loans and related Project Investments;
b. Commercial Real Estate Loans and related Project Investments; and c.
Small Business Loans and related Project Investments.
a. Affordable Housing Development Loans and Project Investments:
Affordable Housing Development Loans are Commercial Loans that refer to
the origination of a loan to finance the acquisition, construction,
and/or development of single- or multifamily residential real property,
where at least 60 percent of the units in such property are affordable,
to Eligible Residents who meet Low- and Moderate-Income requirements.
For the purposes of this NOFA, eligible Affordable Housing Development
Loans and related Project Investments do not include housing for
students, or school dormitories. In addition, for such transactions,
Applicants will be required to provide supporting documentation that
demonstrates that at least 60 percent of the units in the property
financed are or will be sold or rented to Eligible Residents who meet
Low-and-Moderate-Income requirements, as noted in the Application
instructions.
b. Commercial Real Estate Loans and related Project Investments:
For purposes of this NOFA, eligible Commercial Real Estate Loans (12
CFR 1806.103) and related Project Investments are generally limited to
transactions with a total principal value of $10 million or less.
Notwithstanding the foregoing, the CDFI Fund, in its sole discretion,
may consider transactions with a total principal value of over $10
million, subject to review. For such transactions, Applicants must
provide a separate narrative, or other information, to demonstrate that
the proposed project offers, or significantly enhances the quality of,
a facility or service not currently provided to the Distressed
Community.
c. Small Business Loans and Project Investments: Small Business
Loans are Commercial Loans that refer to the origination of a loan used
for commercial or industrial activities (other than an Affordable
Housing Loan, Affordable Housing Development Loan, Commercial Real
Estate Loan, or Home Improvement Loan) to a business or farm that meets
the size eligibility standards of the Small Business Administration's
Development Company or Small Business Investment Company programs (13
CFR 121.301) and is located in a Distressed Community.
d. Distressed Community Financing Activities for Transactions Less
Than $250,000: For purposes of this NOFA, Applicants are expected to
maintain records for any transaction submitted as part of the FY 2024
BEA Program Application, including supporting documentation for
transactions in the Distressed Community Financing Activity category of
less than $250,000. The CDFI Fund reserves the right to request
supporting documentation from an Applicant during its Application
Review process for a Distressed Community Financing Activities
transaction less than $250,000.
3. Service Activities: Service Activities consist of the following
five types: a: Deposit Liabilities; b. Community Services; c. Financial
Services; d. Targeted Financial Services; and e. Targeted Retail
Savings/Investment Products.
a. Deposit Liabilities: Deposit Liabilities are considered Service
Activities and refer to time or savings deposits or demand deposits.
Any such deposit must be accepted from Eligible Residents at the
offices of the Applicant or of the Subsidiary of the Applicant and
located in the Distressed Community. Deposit Liabilities may only
include deposits held by individuals in transaction accounts (e.g.,
demand deposits, negotiable order of withdrawal accounts, automated

[[Page 33461]]

transfer service accounts, and telephone or preauthorized transfer
accounts) or non-transaction accounts (e.g., money market deposit
accounts, other savings deposits, and all time deposits), as defined by
the Appropriate Federal Banking Agency.
b. Community Services: Community Services are considered Service
Activities and refer to the following forms of assistance provided by
officers, employees or agents (contractual or otherwise) of the
Applicant: (1) Provision of Technical Assistance and financial
education to Eligible Residents regarding managing their personal
finances; (2) Provision of Technical Assistance and consulting services
to newly formed small businesses and nonprofit organizations located in
the Distressed Community; (3) Provision of Technical Assistance and
financial education to, or servicing the loans of, homeowners who are
Eligible Residents and meet Low- and Moderate-Income requirements; and
(4) Other services provided to Eligible Residents who meet Low- and
Moderate-Income requirements or enterprises that are Integrally
Involved in a Distressed Community, as deemed appropriate by the CDFI
Fund.
c. Financial Services: Financial Services are Service Activities
that refer to check cashing, providing money orders and certified
checks, automated teller machines, safe deposit boxes, new branches,
and other comparable services, that are provided by the Applicant to
Eligible Residents or enterprises that are Integrally Involved in the
Distressed Community.
The CDFI Fund will value the administrative cost of providing
certain Financial Services using the following per unit values:
(1) $100.00 per account for Targeted Financial Services including
safe transaction accounts, youth transaction accounts, Electronic
Transfer Accounts (ETA) and Individual Development Accounts (IDA);
(2) $50.00 per account for checking and savings accounts that do
not meet the definition of Targeted Financial Services;
(3) $5.00 per check cashing transaction;
(4) $50,000 per new ATM installed at a location in a Distressed
Community;
(5) $500,000 per new retail bank branch office opened in a
Distressed Community, including school-based bank branches approved by
the Applicant's Federal bank regulator;
(6) In the case of Applicants engaging in Financial Services
activities not described above, the CDFI Fund will determine the unit
value of such services;
(7) When reporting the opening of a new retail bank branch office,
the Applicant must certify that such new branch is intended to remain
in operation for at least the next five years;
(8) Financial Service Activities must be provided by the Applicant
to Eligible Residents or enterprises that are located in a Distressed
Community. An Applicant may determine the number of Eligible Residents
who are Award Recipients of Financial Services by either: (i)
collecting the addresses of its Financial Services customers, or (ii)
certifying that the Applicant reasonably believes that such customers
are Eligible Residents or enterprises located in a Distressed Community
and providing a brief analytical narrative with information describing
how the Applicant made this determination. Citations must be provided
for external sources. In addition, if external sources are referenced
in the narrative, the Applicant must explain how it reached the
conclusion that the cited references are directly related to the
Eligible Residents or enterprises to whom it is claiming to have
provided the Financial Services.
(9) When reporting changes in the dollar amount of deposit
accounts, only calculate the net change in the total dollar amount of
eligible Deposit Liabilities between the Baseline Period and the
Assessment Period. Do not report each individual deposit. Instructions
for determining the net change is available in the FY 2024 BEA Program
Application Instructions in AMIS.
d. Targeted Financial Services: Targeted Financial Services are
Service Activities that are targeted to Eligible Residents, including
Electronic Transfer Accounts (ETAs), Individual Development Accounts
(IDAs), and similar banking products.
e. Targeted Retail Savings/Investment Products: Targeted Financial
Services are Service Activities targeted to Eligible Residents that
include certificates of deposit, mutual funds, and life insurance.
C. Priority Factors: Priority Factors are the numeric values
assigned to individual types of activity within: (i) the Distressed
Community Financing Activities, and (ii) Services Activities categories
of Qualified Activities. For the purposes of this NOFA, Priority
Factors will be based on the Applicant's asset size as of the end of
the Assessment Period (December 31, 2023) as reported by the Applicant
in the Application. Asset size classes (i.e., small institutions,
intermediate-small institutions, and large institutions) will
correspond to the Community Reinvestment Act (CRA) asset size classes
set by the three Federal bank regulatory agencies and that were
effective as of the end of the Assessment Period. The Priority Factor
works by multiplying the change in a Qualified Activity by the assigned
Priority Factor to achieve a ``weighted value.'' This weighted value of
the change would be multiplied by the applicable Award percentage to
yield the Award amount for that particular activity. For purposes of
this NOFA, the CDFI Fund is establishing Priority Factors based on
Applicant asset size to be applied to all activity types within the
Distressed Community Financing Activities and Service Activities
categories only, as follows:

Table 5--CRA Asset Size Classification
------------------------------------------------------------------------
Priority
factor
------------------------------------------------------------------------
Small institutions (assets of less than $391 million as 5.0
of 12/31/2023).........................................
Intermediate--small institutions (assets of at least 3.0
$391 million but less than $1.564 billion as of 12/31/
2023)..................................................
Large institutions (assets of $1.564 billion or greater 1.0
as of 12/31/2023)......................................
------------------------------------------------------------------------

D. Certain Limitations on Qualified Activities:
1. Low-Income Housing Tax Credits: Financial assistance provided by
an Applicant for which the Applicant receives benefits through Low-
Income Housing Tax Credits, authorized pursuant to Section 42 of the
Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute
an Equity Investment, Project Investment, or other Qualified Activity,
for the purposes of calculating or receiving a BEA Program Award.

[[Page 33462]]

2. New Markets Tax Credits: Financial assistance provided by an
Applicant for which the Applicant receives benefits as an investor in a
Community Development Entity that has received an allocation of New
Markets Tax Credits, authorized pursuant to Section 45D of the Internal
Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an
Equity Investment, Project Investment, or other Qualified Activity, for
the purposes of calculating or receiving a BEA Program Award. Leverage
loans used in New Markets Tax Credit structured transactions that meet
the requirements outlined in this NOFA are considered Distressed
Community Financing Activities. The Application materials will provide
further guidance on requirements for BEA transactions which were
leverage loans used in a New Markets Tax Credit structured transaction.
3. Loan Renewals and Refinances: Financial assistance provided by
an Applicant shall not constitute a Qualified Activity, as defined in
this part, for the purposes of calculating or receiving a BEA Program
Award if such financial assistance consists of a loan to a borrower
that has matured and is then renewed by the Applicant, or consists of a
loan to a borrower that is retired or restructured using the proceeds
of a new commitment by the Applicant.
4. Certain Business Types: Financial assistance provided by an
Applicant shall not constitute a Qualified Activity for the purposes of
financing the following business types: adult entertainment providers,
golf courses, race tracks, gambling facilities, country clubs,
facilities offering massage services, hot tub facilities, suntan
facilities, or stores where the principal business is the sale of
alcoholic beverages for consumption off premises.
5. Prior BEA Program Awards: Qualified Activities funded with prior
funding round BEA Program Award dollars or funded to satisfy
requirements of the BEA Program Award Agreement shall not constitute a
Qualified Activity for the purposes of calculating or receiving a BEA
Program Award.
6. Prior CDFI Fund Awards: No Applicant may receive a BEA Program
Award for the same activities funded by another CDFI Fund program or
federal program.
B. Review and Selection Process:
1. Application Review Process: All Applications will be initially
evaluated by external non-federal reviewers. Reviewers are selected
based on their experience in understanding various financial
transactions, analyzing and interpreting financial documentation,
strong written communication skills, and strong mathematical skills.
Reviewers must complete the CDFI Fund's conflict of interest process
and be approved by the CDFI Fund.
2. Selection Process: The Interim Rule and this NOFA describe the
process for selecting Applicants to receive a BEA Program Award and
determining Award amounts. If the amount of funds available during the
funding round is insufficient for all estimated Award amounts, Award
Recipients will be selected based on the process described in the
Interim Rule at 12 CFR 1806.404. This process gives funding priority to
Applicants that undertake activities in the following order: (i) CDFI
Related Activities, (ii) Distressed Community Financing Activities, and
(iii) Service Activities.
a. Award percentages: In the CDFI Related Activities subcategory of
CDFI Equity, for all Applicants, the estimated award amount will be
equal to 18 percent of the increase in Qualified Activities reported in
this subcategory.
In the CDFI Related Activities subcategory of CDFI Support
Activities, for a Certified CDFI Applicant, the estimated award amount
will be equal to 18 percent of the increase in Qualified Activities in
this subcategory. If an Applicant is not a Certified CDFI, the
estimated award amount will be equal to 6 percent of the increase in
Qualified Activities in this subcategory.
In the Distressed Community Financing Activities subcategory of
Consumer Lending, the estimated award amount for Certified CDFI
Applicants will be 18 percent of the weighted value of the increase in
Qualified Activities in this subcategory. If an Applicant is not a
Certified CDFI Applicant, the estimated award amount will be equal to 6
percent of the weighted value of the increase in Qualified Activities
in this subcategory.
In the Distressed Community Financing Activities subcategory of
Commercial Lending and Investments, for a Certified CDFI Applicant, the
estimated award amount will be equal to 9 percent of the weighted value
of the increase in Qualified Activities in this subcategory. If an
Applicant is not a Certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity in this subcategory.
In the Service Activities category, for a Certified CDFI Applicant,
the estimated award amount will be equal to 9 percent of the weighted
value of the increase in Qualified Activity for the category. If an
Applicant is not a Certified CDFI, the estimated award amount will be
equal to 3 percent of the weighted value of the increase in Qualified
Activity for the category.
Within each category, CDFI Applicants will be ranked first based on
the ratio of the award amount calculated by the CDFI Fund for the
category relative to the Applicant's total assets, followed by
Applicants that are not CDFIs based on the ratio of the award amount
calculated by the CDFI Fund for the category relative to the
Applicant's total assets.
Selections within each priority category will be based on the
Applicants' relative rankings within each such category, subject to the
availability of funds and any established maximum dollar amount of
total awards that may be awarded for the Distressed Community Financing
Activities category of Qualified Activities, as determined by the CDFI
Fund.
b. Award Amounts: An Applicant's estimated award amount will be
calculated according to the procedure outlined in the Interim Rule (at
12 CFR 1806.403 and 1806.404). As outlined in the Interim Rule, the
CDFI Fund will determine actual award amounts based on the availability
of funds, increases in Qualified Activities from the Baseline Period to
the Assessment Period, and the priority ranking of each Applicant.
In calculating the increase in Qualified Activities, the CDFI Fund
will determine the eligibility of each transaction for which an
Applicant has applied for a BEA Program Award.
The CDFI Fund, in its sole discretion: (i) may adjust the estimated
award amount that an Applicant may receive; (ii) may establish a
maximum amount that may be awarded to an Applicant; and (iii) reserves
the right to limit the amount of an award to any Applicant if the CDFI
Fund deems it appropriate.
The CDFI Fund reserves the right to change its eligibility and
evaluation criteria and procedures. If those changes materially affect
the CDFI Fund's award decisions, the CDFI Fund will provide information
regarding the changes through the CDFI Fund's website.
3. Programmatic and Financial Risk: The CDFI Fund will consider
safety and soundness information from the appropriate Federal bank
regulatory agency as defined in Section 3 of the Federal Deposit
Insurance Act (12 U.S.C. 1813(q)). If the appropriate Federal bank
regulatory agency identifies safety and soundness concerns, the CDFI
Fund will assess whether the concerns cause or will cause the Applicant
to be incapable of completing the activities for which funding has been
requested. The CDFI Fund will not approve a BEA Program Award under any
circumstances for an

[[Page 33463]]

Applicant if the appropriate Federal bank regulatory agency indicates
that the Applicant received a composite rating of ``5'' on its most
recent examination, performed in accordance with the Uniform Financial
Institutions Rating System.
Furthermore, the CDFI Fund will not approve a BEA Program Award for
an Applicant if the CDFI Fund determines that the Applicant has:
(i) a CRA assessment rating of below ``Satisfactory'' on its most
recent examination; (ii) a financial audit with: a going concern
paragraph, an adverse opinion, a disclaimer of opinion, or a withdrawal
of an opinion on its most recent audit; or (iii) a Prompt Corrective
Action directive from its regulator imposing restrictions on its level
of lending activities, that was active at the time the Applicant
submitted its Application to the CDFI Fund or becomes active during the
CDFI Fund's evaluation of the Application for: activities for which
funding has been requested, activities which meet the BEA Program
criteria of Qualified Activities, or other circumstances which may
impact an Applicant's ability to successfully manage, re-invest, and/or
report on a FY 2024 BEA Program Award.
Applicants and/or their appropriate Federal bank regulator agency
may be contacted by the CDFI Fund to provide additional information
related to Federal bank regulatory or CRA information. The CDFI Fund
will consider this information and may choose to not approve a FY 2024
BEA Program Award for an Applicant if the information indicates that
the Applicant may be unable to responsibly manage, re-invest, and/or
report on a FY 2024 BEA Program Award during the period of performance.
4. Persistent Poverty Counties: Should the CDFI Fund determine,
upon analysis of the initial pool of BEA Program Award Recipients, that
it has not achieved the 10 percent PPC requirement mandated by
Congress, Award preference will be given to Applicants that committed
to deploying at least 10 percent of their FY 2024 BEA Program Award in
PPCs. Applicants that committed to serving PPCs and are selected to
receive a FY 2024 BEA Program award, will have their PPC commitment
incorporated into their Award Agreement as a Performance Goal which
will be subject to compliance and reporting requirements. No Applicant,
however, will be disqualified from consideration for not making a PPC
commitment in its BEA Program Application.
5. Application Rejection: The CDFI Fund reserves the right to
reject an Application if information (including administrative error)
comes to the CDFI Fund's attention that either: adversely affects an
Applicant's eligibility for an award; adversely affects the CDFI Fund's
evaluation or scoring of an Application; or indicates fraud or
mismanagement on the Applicant's part. If the CDFI Fund determines any
portion of the Application is incorrect in a material respect, the CDFI
Fund reserves the right, in its sole discretion, to reject the
Application.
There is no right to appeal the CDFI Fund's award decisions. The
CDFI Fund's award decisions are final. The CDFI Fund will not discuss
the specifics of an Applicant's FY 2024 BEA Program Application or
provide reasons why an Applicant was not selected to receive a FY 2024
BEA Program Award. The CDFI Fund will only respond to general questions
regarding the FY 2024 BEA Program Application and award decision
process until 30 days after the award announcement date.
C. Anticipated Announcement: The CDFI Fund anticipates making its
FY 2024 BEA Program award announcement in the fall of 2024.

VI. Federal Award Administration Information

A. Federal Award Notices: Each successful Applicant will receive
notification from the CDFI Fund stating that its Application has been
approved for an Award. Each Applicant not selected for an Award will
receive notification and provided a debriefing document in its AMIS
account.
B. Administrative and Policy Requirements Prior to Entering into an
Award Agreement: If, prior to entering into an Award Agreement,
information (including an administrative error) comes to the CDFI
Fund's attention that: adversely affects the CDFI Fund's evaluation of
the Application; indicates that the Recipient is not in compliance with
any requirement listed in the Uniform Requirements; indicates that the
Recipient is not in compliance with a term or condition of any prior
Award Agreement, Assistance Agreement, and/or Allocation Agreement from
the CDFI Fund; indicates the Recipient has failed to execute and return
a prior round Award Agreement Assistance Agreement, and/or Allocation
Agreement to the CDFI Fund within the CDFI Fund's deadlines; or
indicates fraud or mismanagement on the Recipient's part, the CDFI Fund
may, in its discretion and without advance notice to the Recipient,
terminate the award or take such other actions as it deems appropriate.
If a Certified CDFI Award Recipient's certification status ceases, the
CDFI Fund reserves the right, in its sole discretion, to re-calculate
the award, and modify the Award Agreement based on the Award
Recipient's non-CDFI status.
By executing an Award Agreement, the Award Recipient agrees that,
if the CDFI Fund becomes aware of any information (including an
administrative error) prior to the effective date of the Award
Agreement that either adversely affects the Award Recipient's
eligibility for an award, or adversely affects the CDFI Fund's
evaluation of the Award Recipient's Application, or indicates fraud or
mismanagement on the part of the Award Recipient, the CDFI Fund may, in
its discretion and without advance notice to the Award Recipient,
terminate the Award Agreement or take other actions as it deems
appropriate.
The CDFI Fund reserves the right, in its sole discretion, to
rescind an award if the Award Recipient fails to return the Award
Agreement, signed by the authorized representative of the Award
Recipient, and/or provide the CDFI Fund with any other requested
documentation, within the CDFI Fund's deadlines.
In addition, the CDFI Fund reserves the right, in its sole
discretion, to terminate and rescind the Award Agreement and the award
made under this NOFA for any criteria described in the following table:

Table 6--Criteria That May Result in Award Termination Prior to the
Execution of an Award Agreement
------------------------------------------------------------------------
Criteria Description
------------------------------------------------------------------------
Failure to maintain FDIC-insured <bullet> If prior to entering into
status. an Award Agreement under this NOFA,
the Award Recipient does not
maintain its FDIC-insured status,
the CDFI Fund will terminate and/or
rescind the Award Agreement and the
award made under this NOFA.

[[Page 33464]]

Failure to meet reporting <bullet> If a Recipient received a
requirements. prior award or allocation under any
CDFI Fund program and is not
current on the reporting
requirements set forth in the
previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee, as of the date of the
notice of award, the CDFI Fund
reserves the right, in its sole
discretion, to delay entering into
an Assistance Agreement and/or to
delay making a payment of BEA
Program Award, until said prior
Recipient or Allocatee is current
on the reporting requirements in
the previously executed assistance,
award, allocation, bond loan
agreement(s), or agreement to
guarantee.
<bullet> If such a prior Recipient
or Allocatee is unable to meet this
requirement within the timeframe
set by the CDFI Fund, the CDFI Fund
reserves the right, in its sole
discretion, to terminate and
rescind the notice of award and the
BEA Program Award made under this
NOFA.
<bullet> Please note that automated
systems employed by the CDFI Fund
for receipt of reports submitted
electronically typically
acknowledge only a report's
receipt; such acknowledgment does
not warrant that the report
received was complete, nor that it
met reporting requirements.
Pending resolution of Default or <bullet> The CDFI Fund will delay
Noncompliance. entering into an Award Agreement
with a Recipient that has pending
noncompliance or default issue with
any of its previously executed CDFI
Award Agreement(s), Allocation
Agreement(s), and/or Assistance
Agreement(s), if the CDFI Fund has
not yet made a final compliance
determination.
<bullet> If the Recipient is unable
to satisfactorily resolve the
compliance issues, the CDFI Fund
may terminate and rescind the
Assistance Agreement and the award
made under this NOFA.
Default or Noncompliance status... <bullet> If, at any time prior to
entering into an Award Agreement,
the CDFI Fund determines that a
Recipient is noncompliant or found
in default with any previously
executed Award Agreement(s),
Allocation Agreement(s), and/or
Assistance Agreement(s), and the
CDFI Fund has provided written
notification that the Recipient is
ineligible to apply for or receive
any future awards or allocations
for a time period specified by the
CDFI Fund in writing, the CDFI Fund
may delay entering into an Award
Agreement until the Recipient has
cured the noncompliance or default
by taking actions the CDFI Fund has
specified within such specified
timeframe. If the Recipient is
unable to cure the noncompliance or
default within the specified
timeframe, the CDFI Fund may
terminate and rescind the Award
Agreement and the award made under
this NOFA.
Compliance with Federal civil <bullet> If, within the period
rights requirements. starting three years prior to this
NOFA and through the date of the
Award Agreement, the Recipient
received a final determination, in
any proceeding instituted against
the Recipient in, by, or before any
court, governmental, or
administrative body or agency,
declaring that the Recipient
violated any federal civil rights
laws or regulations, including, but
not limited to: Title VI of the
Civil Rights Act of 1964, as
amended (42 U.S.C. 2000d et seq.);
Fair Housing Act (42 U.S.C. 3601 et
seq.); Equal Credit Opportunity Act
(15 U.S.C. 1691 et seq.); Section
504 of the Rehabilitation Act of
1973 (29 U.S.C. 794); the Age
Discrimination Act of 1975 (42
U.S.C. 6101-6107); and Title IX of
the Education Amendments of 1972
(20 U.S.C. 1681 et seq.), the CDFI
Fund may terminate and rescind the
Award Agreement and the Award made
under this NOFA. The CDFI Fund will
delay entering into an Award
Agreement with a Recipient that has
pending Title VI noncompliance
issues, if the CDFI Fund has not
yet made a final compliance
determination.
<bullet> If the Recipient is unable
to satisfactorily resolve the Title
VI noncompliance issues, the CDFI
Fund may terminate and rescind the
Award Agreement and the award made
under this NOFA.
<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.
Do Not Pay........................ <bullet> The CDFI Fund reserves the
right, in its sole discretion, to
rescind an award if the Recipient
(or Affiliate of a Recipient) is
determined to be ineligible based
on data in the Do Not Pay database.
<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.
Safety and Soundness.............. <bullet> If it is determined the
Recipient is or will be incapable
of meeting its award obligations,
the CDFI Fund will deem the
Recipient to be ineligible or
require it to improve safety and
soundness conditions prior to
entering into an Award Agreement.
------------------------------------------------------------------------

C. Award Agreement: After the CDFI Fund selects an Award Recipient,
except as otherwise specified in this NOFA, the CDFI Fund and the Award
Recipient will enter into an Award Agreement. The Award Agreement will
set forth certain required terms and conditions of the award, which
will include, but not be limited to: (i) the amount of the award; (ii)
the approved uses of the award; (iii) the Performance Goals and
measures; (iv) the period of performance; and (v) the reporting
requirements. The Award Agreement shall provide that an Award Recipient
shall: (i) carry out its Qualified Activities in accordance with
applicable law, the approved Application, and all other applicable
requirements; (ii) not receive any disbursement of award dollars until
the CDFI Fund has

[[Page 33465]]

determined that the Award Recipient has fulfilled all applicable
requirements; and (iii) use the BEA Program Award amount for Qualified
Activities. Award Recipients which committed to serving PPCs will have
their PPC commitment incorporated into their Award Agreement as a
Performance Goal, which will be subject to compliance and reporting
requirements.
D. Reporting: Through this NOFA, the CDFI Fund will require each
Award Recipient to account for and report to the CDFI Fund on the use
of the award. This will require Award Recipients to establish
administrative controls, subject to applicable OMB Circulars. The CDFI
Fund will collect information from each such Award Recipient on its use
of the award at least once following the award and more often if deemed
appropriate by the CDFI Fund in its sole discretion. The CDFI Fund will
provide guidance to Award Recipients outlining the format and content
of the information required to be provided to describe how the funds
were used.
The CDFI Fund may collect information from each Award Recipient
including, but not limited to, an Annual Report with the following
components:

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

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

VII. Federal Awarding Agency Contacts

A. Questions Related to Application and Prior Award Recipient
Reporting, Compliance and Disbursements: The CDFI Fund will respond to
questions concerning this NOFA, the Application and reporting,
compliance, or disbursements between the hours of 9:00 a.m. and 5:00
p.m. Eastern Time, starting on the date that this NOFA is published
through the date listed in Table 1 and Table 4. The CDFI Fund will post
responses to frequently asked questions in a separate document on its
website. Other information regarding the CDFI Fund and its programs may
be obtained from the CDFI Fund's website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>.
The following table lists contact information for the CDFI Fund,
<a href="http://Grants.gov">Grants.gov</a> and SAM:

Table 8--Contact Information
------------------------------------------------------------------------
Telephone number Electronic contact
Type of question (not toll free) method
------------------------------------------------------------------------
BEA Program................... (202) 653-0421... BEA AMIS Service
Request; or
<a href="/cdn-cgi/l/email-protection" class="__cf_email__" data-cfemail="783a3d39381b1c1e11560c0a1d190b561f170e">[email&#160;protected]</a>.
Certification, Compliance (202) 653-0423... BEA Compliance and
Monitoring, and Evaluation. Reporting AMIS
Service Request.
AMIS--IT Help Desk............ (202) 653-0422... IT AMIS Service
Request.
<a href="http://Grants.gov">Grants.gov</a> Help Desk.......... (800) 518-4726... <a href="/cdn-cgi/l/email-protection#bdcec8cdcdd2cfc9fddacfdcd3c9ce93dad2cb">[email&#160;protected]</a>.
<a href="http://SAM.gov">SAM.gov</a> (Federal Service Desk) (866) 606-8220... <a href="https://www.sam.gov">https://www.sam.gov</a>.
------------------------------------------------------------------------

B. Information Technology Support: People who have visual or
mobility impairments that prevent them from using the CDFI Fund's
website should call (202) 653-0422 for assistance (this is not a toll-
free number).
C. Communication with the CDFI Fund: The CDFI Fund will use AMIS to
communicate with Applicants and Award Recipients under this NOFA. Award
Recipients must use AMIS to submit required reports. The CDFI Fund

[[Page 33466]]

will notify Award Recipients by email using the addresses maintained in
each Award Recipient's AMIS account. Therefore, an Award Recipient and
any Subsidiaries, signatories, and Affiliates must maintain accurate
contact information (including contact person and authorized
representative, email addresses, fax numbers, phone numbers, and office
addresses) in their AMIS account(s).
D. Civil Rights and Equal Opportunity: Any person who is eligible
to receive benefits or services from the CDFI Fund or its Recipients
under any of its programs or activities is entitled to those benefits
or services without being subjected to prohibited discrimination. The
Department of the Treasury's Office of Civil Rights and Equal
Employment Opportunity enforces various federal statutes and
regulations that prohibit discrimination in financially assisted and
conducted programs and activities of the CDFI Fund. If a person
believes that they have been subjected to discrimination and/or
reprisal because of race, color, religion, national origin, age, sex,
marital status, familial status, disability and/or reprisal, they may
file a complaint with: Director, Office of Civil Rights and Equal
Employment Opportunity, 1500 Pennsylvania Ave. NW, Washington, DC 20220
or by email at <a href="/cdn-cgi/l/email-protection#17746574787a677b767e79636457636572766462656e39707861">[email&#160;protected]</a>.
E. Statutory and National Policy Requirements: The CDFI Fund will
manage and administer the Federal award in a manner to ensure that
Federal funding is expended and associated programs are implemented in
full accordance with the U.S. Constitution, federal law, and public
policy requirements: including but not limited to, those protecting
free speech, religious liberty, public welfare, the environment, and
prohibiting discrimination.

VIII. Other Information

A. Reasonable Accommodations: Requests for reasonable
accommodations under section 504 of the Rehabilitation Act should be
directed to Mr. Jay Santiago, Community Development Financial
Institutions Fund, U.S. Department of the Treasury, at
<a href="/cdn-cgi/l/email-protection#8cdfede2f8e5edebe3c6ccefe8eae5a2f8fee9edffa2ebe3fa">[email&#160;protected]</a> no later than 72 hours in advance of the
application deadline.
B. Paperwork Reduction Act: Under the Paperwork Reduction Act (44
U.S.C. chapter 35), an agency may not conduct or sponsor a collection
of information, and an individual is not required to respond to a
collection of information, unless it displays a valid OMB control
number. Pursuant to the Paperwork Reduction Act, the BEA Program
funding Application has been assigned the following control number:
1559-0005.
C. Application Information Sessions: The CDFI Fund may conduct
webinars or host information sessions for organizations that are
considering applying to, or are interested in learning about, the CDFI
Fund's programs. For further information, please visit the CDFI Fund's
website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>.
Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part
1806.

Pravina Raghavan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2024-09124 Filed 4-26-24; 8:45 am]
BILLING CODE 4810-05-P

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

View on FederalRegister.gov →Plain-text source

Indexed from Federal Register on April 29, 2024.

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