Notice of Funds Availability (NOFA) Inviting Applications for the FY 2015 Funding Round of the Bank Enterprise Award Program (BEA Program)
Citation: "80 FR 25769"
Page Number: "25769"
"Notices"
Announcement Type: Announcement of funding opportunity.
Funding Opportunity Number: CDFI-2015-BEA.
Catalog of Federal Domestic Assistance (CFDA) Number: 21.021.
KEY DATES:
Table 1--FY 2015 BEA Program Funding Round Key Dates for Applicants Description Deadline Time Submission method (Eastern daylight time--EDT) Last day to June 11, 2015 5:00 p.m. EDT CDFI Fund Helpdesk: 202- contact BEA 653-0421 or Program staff [email protected]. Last day to June 11, 2015 5:00 p.m. EDT CDFI Fund Helpdesk: 202- contact 653-0421 or Certification, [email protected]. Compliance Monitoring and Evaluation staff Application Part June 15, 2015 11:59 p.m. EDT Electronically via I: BEA Program Grants.gov. Application Due Date (Forms include: SF-424 Mandatory, Environmental Review Form, Certifications and Excel charts) Last day to June 17, 2015 5:00 p.m. EDT CDFI Fund Helpdesk: 202- contact IT Help 653-0421 or Desk [email protected]. Application Part June 17, 2015 5:00 p.m. EDT Electronically via II: myCDFIFund myCDFIFund. Due Date: (Includes: myCDFIFund account registration, BEA Signature Page and Documentation of Qualified Activities)
SUMMARY: This NOFA is issued in connection with the fiscal year (FY) 2015 funding round of the Bank Enterprise Award Program (BEA Program). The BEA Program is administered by the
I. Program Description
A. History:
The BEA Program complements the community development activities of banks and thrifts (collectively referred to as banks for purposes of this Notice) by providing financial incentives to expand investments in CDFIs and to increase lending, investment, and service activities within Distressed Communities. Providing monetary awards to banks for increasing their community development activities leverages the
B. Priorities: Through the BEA Program, the
1. Estimated award amounts for Applicants that are CDFIs will be equal to three times the award percentages for activities undertaken by Applicants that are not CDFIs;
2. Priority Factors based on Applicant's asset size, as described in Section V.D. of this NOFA ("Application Review Information: Priority Factors"); and
3. Priority of awards:
C. Baseline Period and Assessment Period dates: A BEA Program Award is based on an Applicant's increases in Qualified Activities from the Baseline Period to the Assessment Period. For the FY 2015 funding round, the Baseline Period is calendar year 2013 (
D. 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 (Interim Rule). The Interim Rule provides guidance on evaluation criteria and other requirements of the BEA Program. Detailed BEA Program requirements are also found in the Application associated with this NOFA.
E. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR 200): In
F. Funding limitations:
II. Federal Award Information
A. Funding Availability
1. FY 2015 Funding Round and Award Amounts:
2. Anticipated Start Date and Period of Performance:
B. Types of Awards: BEA Program Awards are made in the form of grants.
C. Eligible Activities: Eligible Activities for the BEA Program 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). It is the explicit policy of the
Distressed Community Financing Activities (12 CFR 1806.103(u)) include Affordable Housing Loans, Affordable Housing Development Loans and related Project Investments; Education Loans; Commercial Real Estate Loans and related Project Investments; Home Improvement Loans; Small Business Loans and related Project Investments, and Small Dollar Consumer Loans. Service Activities (12 CFR 1806.103(oo)) include Deposit Liabilities, Financial Services, Community Services,
D. Designation of
Applicants applying for a BEA Program Award for performing Distressed Community Financing Activities or Service Activities must verify that addresses of both Baseline and Assessment Period activities are in Distressed Communities when completing their Application.
Please note that a
1. Definition of
2. Distressed Community Designation by a CDFI Partner: A CDFI Partner (as appropriate) shall designate an area as a
a. Selecting a census tract that meets the minimum area and eligibility requirements; or by
b. selecting two or more contiguous census tracts that, in the aggregate, meet minimum area and eligibility requirements set forth in paragraph (1) of this section. A CDFI Partner designates a
3. Distressed Community Determination by a BEA Applicant: A BEA Applicant shall determine an area is a
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 paragraph (1) of this section.
E. Award Agreement: Each Recipient under this NOFA must sign an Award Agreement prior to disbursement by the
III. Eligibility Information
A. Eligible Applicants: For the purposes of this NOFA, the following table sets forth the eligibility criteria to receive an award from the
Table 2--Eligibility Requirements for Applicants Criteria Description Eligible Applicants Eligible Applicants for the BEA Program must be Insured Depository Institutions, as defined in Section 3 of the Federal Deposit Insurance Act 12 U.S.C. 1813(c)(2). For the FY 2015 funding round, an Applicant must beFDIC -insured as ofDecember 31, 2014 to be eligible for consideration for a BEA Program Award under this NOFA. The depository institution holding company of anInsured Depository Institution may not apply on behalf of anInsured Depository Institution . Applications received from depository institution holding companies will be disqualified. CDFI Applicant For the FY 2015 funding round, an eligible certified-CDFI Applicant is an InsuredDepository Institution that was certified as a CDFI as ofDecember 31, 2014 and that maintains its status as a certified CDFI at the time BEA Program Awards are announced under this NOFA. No CDFI Applicant may receive a FY 2015 BEA Program Award if it has: (1) An application pending for assistance under the FY 2015 round of the CDFI Program; (2) been awarded assistance from theCDFI Fund under the CDFI Program within the 12-month period prior to the date of the FY 2015 notice of award issued by the CDFI Program; or (3) ever received assistance under the CDFI Program for the same activities for which it is seeking a FY 2015 BEA Program Award. Please note that Applicants may apply for both a CDFI Program Award and a BEA Program Award in FY 2015; however, receiving a FY 2015 CDFI Program award removes an Applicant from eligibility for a FY 2015 BEA Program Award. Debarment/Do Not PayThe CDFI Fund will conduct a debarment check Verification and will not consider an Application submitted by an Applicant if the Applicant is delinquent on any Federal debt.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 theCDFI Fund to assist with the debarment check.
Prior Award Recipients: The previous success of an Applicant in any of the
Table 3--Eligibility Requirements for Applicants Which are Prior Award Recipients Criteria Description Pending resolution of If an Applicant that is a prior Award Recipient noncompliance or Allocatee under anyCDFI Fund program: (i) Has submitted reports to theCDFI Fund that demonstrate noncompliance with a previous assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee and (ii) theCDFI Fund has yet to make a final determination as to whether the entity is in default of its previous agreement, theCDFI Fund will consider the Applicant's Application under this NOFA pending full resolution, in the sole determination of theCDFI Fund , of the noncompliance. Default statusThe CDFI Fund will not consider an Application submitted by an Applicant that is a priorCDFI Fund Award Recipient or Allocatee under anyCDFI Fund program if, as of the applicable Application deadline of this NOFA, theCDFI Fund has made a final determination that such Applicant is in default of a previously executed assistance agreement, award agreement, allocation agreement, bond loan agreement, or agreement to guarantee. Such entities will be ineligible to apply for an Award pursuant to this NOFA so long as the Applicant's prior award or allocation remains in default status or such other time period as specified by theCDFI Fund in writing. Undisbursed funds For the purposes of this section, the term "undisbursed funds" is defined as: (i) In the case of prior BEA Program Award(s), any balance of Award funds equal to or greater than five percent of the total prior BEA Program Award(s) that remains undisbursed more than three years after the end of the calendar year in which theCDFI Fund signed an Award Agreement with the Award Recipient, or (ii) in the case of prior CDFI Program or otherCDFI Fund program award(s), any balance of award funds equal to or greater than five percent of the total prior award(s) that remains undisbursed more than two years after the end of the calendar year in which theCDFI Fund signed the applicable assistance agreement with the Award Recipient. The term "undisbursed funds" does not include (i) tax credit allocation authority allocated through the NMTC Program; (ii) any award funds for which theCDFI Fund received a full and complete disbursement request from the Award Recipient as of the Application deadline of this NOFA; (iii) an award that does not have a fully executed award agreement; or (iv) any award funds for an award that has been terminated, expired, rescinded, or de-obligated by theCDFI Fund .The CDFI Fund will not consider an Application submitted by an Applicant that is a priorCDFI Fund award Recipient under anyCDFI Fund program if the Applicant has a balance of undisbursed funds under said prior award(s), as of the Application deadline of this NOFA. Further, an entity is not eligible to apply for an Award pursuant to this NOFA if an Affiliate of the Applicant is a priorCDFI Fund award Recipient under anyCDFI Fund program, and has a balance of undisbursed funds under said prior Award(s), as of the Application deadline of this NOFA. In the case where an Affiliate of the Applicant is a priorCDFI Fund award Recipient under anyCDFI Fund program, and has a balance of undisbursed funds under said prior award(s), as of the Application deadline of this NOFA, theCDFI Fund will include the combined awards of the Applicant and such Affiliates when calculating the amount of undisbursed funds.
Contact the
B. 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 Grants.gov and the
B. Content and Form of Application Submission: All Application materials must be prepared using the English language and calculations must be made in U.S. dollars. Detailed Application content requirements are found in the Application associated with this NOFA. Applicants must submit all materials described in and required by the Application by the applicable deadlines. Additional information, including instructions relating to the submission of the Application via Grants.gov, and the submission of the FY 2015 BEA Signature Page and supporting documentation via myCDFIFund, is set forth in further detail in the Application.
C. Dun and Bradstreet Universal Numbering System (DUNS) Number and System for Award Management (SAM): Please note that, pursuant to OMB guidance (68 FR 38402), each Applicant must provide, as part of its Application submission, a Dun and Bradstreet Data Universal Numbering System (DUNS) number and a current Employer Identification Number (EIN). Applicants should allow sufficient time for the
An active SAM account is required to submit Applications via Grants.gov. Neither the SAM account, EIN, nor the DUNS number can be that of the depository institution holding company of the Applicant. Applicants are advised to allow ample time to complete the entire registration and submission process prior to the application deadline. The SAM registration process can take several weeks to complete. Applicants that have previously completed the SAM registration process must verify that their SAM accounts are current and active. Each Applicant must continue to maintain an active SAM registration with current information at all times during which it has an active Federal award or an Application under consideration by a Federal awarding agency.
An Application that does not include an EIN or DUNS number is incomplete and cannot be transmitted to the
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. As set forth in further detail in the Application, any Qualified Activity missing the required documentation will be disqualified. Applicants will not be allowed to submit missing documentation for Qualified Activities after the Application deadline. Information submitted by the Applicant that the
1. Grants.gov: In order to submit an Application via Grants.gov, Applicants must complete a multi-step registration process. This includes providing a DUNS and registration at www.sam.gov.
2. myCDFIFund: All
D. Submission Dates and Times: The following table provides the critical deadlines for the FY 2015 Funding Round. Applications and other required documents and other attachments received after the deadline on the applicable date will be rejected. Please note that the document submission deadlines in this NOFA and the Application are strictly enforced.
Table 4--FY 2015 BEA Program Funding Round Critical Deadlines for Applicants Description Deadline Time Submission method (eastern daylight time--EDT) Application Part June 15, 2015 11:59 p.m. EDT Electronically via I: BEA Program Grants.gov. Application Due Date (Application Part I Forms include: SF-424 Mandatory, Environmental Review Form, Certifications and Excel charts) Application Part June 17, 2015 5:00 pm EDT Electronically via II: myCDFIFund Due myCDFIFund. Date (This includes myCDFIFund account registration, BEA Signature Page and Documentation of Qualified Activities)
1. Confirmation of Application Submission: Applicants may verify their Application submission in Grants.gov and myCDFIFund.
a. Grants.gov: Each Applicant will receive an email from Grants.gov immediately after Application submission confirming that the submission has entered the Grants.gov system. This email will contain a tracking number for the submitted Application package. Within 48 hours, the Applicant will receive a second email which will indicate if the submitted Application package was either successfully validated or rejected with errors. However, Applicants should not rely on the second email notification from Grants.gov to confirm that their Applications were validated. Applicants are strongly encouraged to use the tracking number provided in the first email to closely monitor the status of their Application package by contacting the helpdesk at Grants.gov directly. The Application package is not officially accepted by the
b. myCDFIFund.gov: Applicants will not receive an email confirmation for the BEA Signature Page and related materials submitted in myCDFIFund. Instead, Applicants should check their myCDFIFund account to ensure that the BEA Signature Page is listed under "Submitted Applications." Step-by-step instructions are provided in the Application and supplemental guidance materials.
2. Multiple Application Submissions: If an Applicant submits multiple versions of its Application, the
3. Late Submission:
E. Funding Restrictions: BEA Program Awards are limited by the following:
1. A Recipient shall use BEA Program funds only for the eligible activities described in Section II. D. of this NOFA and its Award Agreement.
2. A Recipient may not distribute BEA Program funds to an Affiliate, Subsidiary, or any other entity, without the
3. BEA Program funds shall only be disbursed to the Recipient.
4.
F. Other Submission Requirements: None.
V. Application Review Information
A. Criteria: If the Applicant submitted a complete and eligible Application, the
1. CDFI Related Activities: CDFI Related Activities include Equity Investments, Equity-Like Loans, and CDFI Support Activities provided to eligible
2. Eligible CDFI Partner: CDFI Partner is defined as a CDFI that has been provided assistance in the form of CDFI Related Activities by an unaffiliated Applicant (12 CFR 1806.103(o)). For the purposes of this NOFA, an eligible CDFI Partner is an entity that has been certified as a CDFI as of the end of the applicable Assessment Period and is Integrally Involved in a
3. Integrally Involved: Integrally Involved is defined as having provided: (i) At least 10 percent of financial transactions or dollars transacted (e.g., loans or equity investments), or 10 percent of Development Service Activities (as defined in 12 CFR 1805.104(s)), in one or more Distressed Communities identified by the Applicant or the CDFI Partner, as applicable, in each of the three calendar years preceding the date of the applicable NOFA, (ii) having transacted at least 25 percent of financial transactions (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 (iii) demonstrated that it has attained at least 10 percent of market share for a particular 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.
4. Limitations on eligible Qualified Activities provided to certain
5. Certificates of Deposit: Section 1806.103(q) of the Interim Rule states that any certificate of deposit (CD) placed by an Applicant or its Subsidiary in a CDFI Partner that is a bank, thrift, or credit union must be: (i) Uninsured and committed for at least three years; or (ii) insured, committed for a term of at least three years, and provided at an interest rate that is materially below market rates, in the determination of the
a. For purposes of this NOFA, "materially below market interest rate" is defined as an annual percentage rate that does not exceed 100 percent of yields on Treasury securities at constant maturity as interpolated by Treasury from the daily yield curve and available on the Treasury Web site at www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.shtml. For example, for a three-year CD, Applicants should use the three-year rate
b. For purposes of this NOFA, a deposit placed by an Applicant directly with a CDFI Partner that participates in a deposit network or service may be treated as eligible under this NOFA if it otherwise meets the criteria for deposits in 1806.103(q) and the CDFI Partner retains the full amount of the initial deposit or an amount equivalent to the full amount of the initial deposit through a deposit network exchange transaction.
6.
7. Equity-Like Loan: An Equity-Like Loan is a loan provided by an Applicant or its Subsidiary to a CDFI Partner, and made on such terms that it has characteristics of an
a. At the end of the initial term, the loan must have a definite rolling maturity date that is automatically extended on an annual basis if the CDFI borrower continues to be financially sound and carry out a community development mission;
b. Periodic payments of interest and/or principal may only be made out of the CDFI borrower's available cash flow after satisfying all other obligations;
c. Failure to pay principal or interest (except at maturity) will not automatically result in a default of the loan agreement; and
d. The loan must be subordinated to all other debt except for other Equity-Like Loans. Notwithstanding the foregoing, the
8. CDFI Support Activity: A CDFI Support Activity is defined as assistance provided by an Applicant or its Subsidiary to a CDFI Partner, in the form of a loan, technical assistance, or deposits.
9. CDFI Program Matching Funds: Equity Investments, Equity-Like Loans, and CDFI Support Activities (except technical assistance) provided by a BEA Applicant to a CDFI and used by the CDFI for matching funds under the CDFI Program are eligible as a Qualified Activity under the CDFI Related Activity category.
10. Distressed Community Financing Activities and Service Activities: Distressed Community Financing Activities comply with consumer protection laws and include Affordable Housing Loans, Affordable Housing Development Loans and related Project Investments, Education Loans, Commercial Real Estate Loans and related Project Investments, Home Improvement Loans, Small Business Loans and related Project Investments (12 CFR 1806.103(ll)), and Small Dollar Consumer Loans. In addition to the regulatory requirements, this NOFA provides the following additional requirements:
a. Commercial Real Estate Loans and related Project Investments: For purposes of this NOFA, eligible Commercial Real Estate Loans (12 CFR 1806.103(k)) and related Project Investments (12 CFR 1806.103(ll)) are generally limited to transactions with a total principal value of
b. Small Dollar Consumer Loan: For purposes of this NOFA, eligible Small Dollar Consumer Loans are affordable loans that serve as available alternatives to the marketplace for individuals who are Eligible Residents with a total principal value between
11. Reporting certain Financial Services:
a.
b.
c.
d.
e.
f.
g. In the case of Applicants engaging in Financial Services activities not described above, the
h. When reporting the opening of a new retail bank branch office, the Applicant must certify that it has not operated a retail branch in the same
i. Financial Service Activities must be provided by the Applicant to Low- and Moderate-Income Residents. An Applicant may determine the number of Low- and Moderate-Income individuals who are recipients of Financial Services by either: (i) Collecting income data on its Financial Services customers, or (ii) certifying that the Applicant reasonably believes that such customers are Low- and Moderate-Income individuals 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 Low-and Moderate-Income residents to whom it is claiming to have provided the Financial Services.
j. When reporting changes in the dollar amount of deposit accounts, only calculate the net change in the total dollar amount of eligible Deposit Liabilities between the Baseline Period and the Assessment Period. Do not report each individual deposit. If the net change between the Baseline Period and Assessment Period is a negative dollar amount, then a negative dollar amount may be recorded for Deposit Liabilities only. Instructions for determining the net change is available in the Supplemental Guidance to the FY 2015 BEA Program Application.
12. Priority Factors: Priority Factors are the numeric values assigned to individual types of activity within: (i) The Distressed Community Financing, and (ii) Services 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 (
Table 5--CRA Asset Size Classification Priority factor Small institutions (assets of less than$305 million as of 5.0 12/31/2014) Intermediate--small institutions (assets of at least$305 million 3.0 but less than$1.221 billion as of 12/31/2014) Large institutions (assets of$1.221 billion or greater as of 1.0 12/31/2014)
13. Certain Limitations on Qualified Activities:
a. Low-Income Housing Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits through Low-Income Housing Tax Credits, authorized pursuant to Section 42 of the Internal Revenue Code, as amended (26 U.S.C. 42), shall not constitute an
b. New Markets Tax Credits: Financial assistance provided by an Applicant for which the Applicant receives benefits as an investor in a Community Development Entity that has received an allocation of New Markets Tax Credits, authorized pursuant to Section 45D of the Internal Revenue Code, as amended (26 U.S.C. 45D), shall not constitute an
c. Loan Renewals and Refinances: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, as defined in this part, for the purposes of calculating or receiving a Bank Enterprise 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. Payoff of a separate third party obligation will only be considered a Qualified Activity if the payoff of a transaction is part of the sale of property or business to an unaffiliated party to the borrower. Applicants should include a narrative statement to describe any such transactions. Otherwise the transaction will be disqualified.
d. Certain Business Types: Financial assistance provided by an Applicant shall not constitute a Qualified Activity, as defined in this part, for the purposes of financing the following business types: Golf courses, race tracks, gambling facilities, certain farming businesses as described in 26 CFR part 1.45D-1(d)(5)(iii)(C), country clubs, massage parlors, hot tub facilities, suntan facilities, or stores where the principal business is the sale of alcoholic beverages for consumption off premises.
e. Prior BEA Program Awards: Qualified Activities funded with prior funding round BEA Program Award dollars or funded to satisfy requirements of the BEA Program Award Agreement shall not constitute a Qualified Activity for the purposes of calculating or receiving a BEA Program Award.
f. Prior CDFI Program Awards: No CDFI Applicant may receive a BEA Program Award for activities funded by another
14. Award Percentages, Award Amounts, Application Review Process, Selection Process, Programmatic and Financial Risk, and Application Rejection: The Interim Rule describes the process for selecting Applicants to receive a BEA Program Award and determining Award amounts.
a. Award percentages: In the CDFI Related Activities category (except for an
In Distressed Community Financing Activities and Service Activities categories, for a 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 CDFI Applicant, the estimated Award amount will be equal to 3 percent of the weighted value of the increase in Qualified Activity for the category.
b. Award Amounts: Applicants will calculate and request an estimated Award amount in accordance with a multi-step procedure that is outlined in the Interim Rule (at 12 CFR 1806.403). As outlined in the Interim Rule at 12 CFR 1806.404, the
For purposes of calculating Award disbursement amounts, the
B. Review and Selection Process:
1. Application Review Process: All Applications will be initially evaluated by external non-Federal reviewers. Reviewers are selected based on their experience in understanding various financial transactions, reading and interpreting financial documentation, strong written communication skills, and strong mathematical skills. Reviewers must complete the
2. Selection Process: If the amount of funds available during the funding round is insufficient for all estimated Award amounts, Award Recipients will be selected based on the process described in the Interim Rule at 12 CFR 1806.404. This process gives funding priority to Applicants that undertake activities in the following order: (i) CDFI Related Activities, (ii) Distressed Community Financing Activities, and (iii) Service Activities, as described in the Interim Rule at 12 CFR 1806.404(c).
Within each category, CDFI Applicants will be ranked first according to the ratio of the actual Award amount calculated by the
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
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
The CDFI Fund reserves the right to contact the Applicant to confirm or clarify information. If contacted, the Applicant must respond within the
The CDFI Fund reserves the right to change its eligibility and evaluation criteria and procedures. If those changes materially affect the
3. Programmatic and Financial Risk:
Furthermore, the
a. A CRA assessment rating of below "Satisfactory" on its most recent examination;
b. a going concern opinion on its most recent audit;
c. a Prompt Corrective Action directive from its regulator.
Applicants and/or their appropriate Federal bank regulator agency may be contacted by the
4. Application Rejection:
There is no right to appeal the
C. Anticipated Announcement and Federal Award Dates:
VI. Federal Award Administration Information
A. Federal Award Notices:
B. Administrative and National Policy Requirements: If, prior to entering into an Award Agreement, information (including an administrative error) comes to the
If the Award Recipient's certification status as a CDFI changes, the
By executing an Award Agreement, the Award Recipient agrees that, if the
Table 6--Criteria That May Result in Award Termination Prior to the Execution of an Award Agreement Criteria Description Failure to meet reporting requirements If an Applicant, is a priorCDFI Fund award Recipient or Allocatee under anyCDFI 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 guaranty, as of the date of the Notice of Award, theCDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, until said prior Recipient or Allocatee is current on the reporting requirements in the previously executed assistance, award, allocation, bond loan agreement(s), or agreement to guaranty. Please note that automated systems employed by theCDFI Fund for receipt of reports submitted electronically typically acknowledge only a report's receipt; such acknowledgment does not warrant that the report received was complete and therefore met reporting requirements. If said prior Recipient or Allocatee is unable to meet this requirement within the timeframe set by theCDFI Fund , theCDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Notice of Award and the Award made under this NOFA. Pending resolution of noncompliance If, at any time prior to entering into an Award Agreement under this NOFA, an Applicant that is a priorCDFI Fund award Recipient or Allocatee under anyCDFI Fund program: Has submitted reports to theCDFI Fund that demonstrate noncompliance with a previous assistance, award, or allocation agreement, but the CDFI Fund has yet to make a final determination regarding whether or not the entity is in default of its previous assistance, award, allocation, bond loan agreement, or agreement to guaranty, theCDFI Fund reserves the right, in its sole discretion, to delay entering into an Award Agreement and/or to delay making a disbursement of Award proceeds, pending full resolution, in the sole determination of theCDFI Fund , of the noncompliance. If said prior Recipient or Allocatee is unable to meet this requirement, in the sole determination of theCDFI Fund , theCDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Notice of Award and the Award made under this NOFA. Default status If prior to entering into an Award Agreement under this NOFA:The CDFI Fund has made a final determination that an Applicant that is a prior CDFI Fund Recipient or Allocatee under anyCDFI Fund program whose award or allocation terminated in default of such prior agreement; theCDFI Fund has provided written notification of such determination to such organization; and the anticipated date for entering into the Award Agreement under this NOFA is within a period of time specified in such notification throughout which any new award, allocation, assistance, bond loan agreement(s), or agreement to guaranty is prohibited, theCDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Award Agreement and the award made under this NOFA. Compliance with Federal civil rights If prior to entering into an Award requirements Agreement under this NOFA, the Recipient receives a final determination, made within the last three years, in any proceeding instituted against the Recipient in, by, or before any court, governmental, or administrative body or agency, declaring that the Award Recipient has violated the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C. 2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975, (42 U.S.C. 6101-6107), and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA. Do Not PayThe 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 CDFI Fund reserves the right, in its sole discretion, to rescind an award if the award Recipient is identified as ineligible to be a recipient per the Do Not Pay database. Safety and soundness If it is determined the award Recipient is or will be incapable of meeting its Award obligations, theCDFI Fund will deem the award Recipient to be ineligible or require it to improve safety and soundness conditions prior to entering into an Award Agreement.
Award Agreement: After the
C. Reporting:
The CDFI Fund may collect information from each Recipient including, but not limited to, an Annual Report with the following components:
Table 7--Reporting Requirements Criteria Description Single Audit Narrative Report (or like The Recipient must submit, via report) myCDFIFund, a Single Audit Narrative Report for each year of its period of performance notifying theCDFI Fund whether it is required to have a single audit pursuant to OMB Single Audit requirements. Single Audit (if applicable) (or A Recipient that is a non-profit similar report) entity that expends$750,000 or more in Federal awards during its fiscal year must have a single audit conducted for that year. If a Recipient is required to complete a Single Audit Report, it should be submitted to the Federal Audit Clearinghouse see 2 CFR Subpart F-Audit Requirements in the Uniform Federal Award Requirements. For-profit award Recipients will be required to complete and submit a similar report directly to theCDFI Fund . Use of BEA Program Award Report If the award Recipient receives a BEA Program award of over$50,000 , it must submit the Use of Award report to theCDFI Fund via myCDFIFund. Explanation of Noncompliance (as If the award Recipient fails to meet a applicable) or successor report Performance Goal or reporting requirements, it must submit the Explanation of Noncompliance via myCDFI Fund.
Each Award Recipient is responsible for the timely and complete submission of the Reporting requirements.
D. Financial Management and Accounting:
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
VII. Federal Awarding Agency Contacts
A. Questions Related to Application and Prior Award Recipient Reporting, Compliance and Disbursements:
The following table lists
Table 8--Contact Information Type of question Telephone number Email addresses (not toll free) BEA Program 202-653-0421 [email protected]. Certification, Compliance 202-653-0423 [email protected]. Monitoring, and Evaluation myCDFIFund--IT Help Desk 202-653-0422 [email protected].
B. Information Technology Support: People who have visual or mobility impairments that prevent them from using the
C. Communication With the
D. Civil Rights and Diversity: Any person who is eligible to receive benefits or services from
VIII. Other Information
A. Reasonable Accommodations: Requests for reasonable accommodations under section 504 of the Rehabilitation Act should be directed to Mr.
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:
Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713; 12 CFR part 1806.
Dated:
Director,
[FR Doc. 2015-10432 Filed 5-4-15;
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