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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices
Funds documentation, if applicable, prior to award payment and will disburse funds based upon eligible InHand Matching Funds. The CDFI Fund encourages Applicants to review the Regulations, the Uniform Requirements, and the Matching Funds guidance
materials available on the CDFI Funds website. Table 9 provides a summary of the Matching Funds requirements for Category II Core FA Applicants, with the exception of Native American CDFIs, applying for BaseFA, PPCFA, and DFFA. The Matching Funds
requirement for HFFIFA, and SECA FA
Applicants is waived for the FY 2021
Funding Round. The Matching Funds requirement for Native American CDFIs is permanently waived. Additional details are set forth in the Application materials.

TABLE 9MATCHING FUNDS REQUIREMENTS
In-Hand Matching Funds definition

Matching Funds requirements by Application type.

Amount of required match

Determination of award form

Matching Funds Window definition

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Matching Funds and form of award

Committed Matching Funds definition ..

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Matching Funds are In-Hand when the Applicant receives payment for the Matching Funds from the Matching Funds source and has acceptable documentation that can be provided to the CDFI Fund upon request. Acceptable In-Hand documentation must show the source, form e.g., grant, loan, deposit, and Equity Investment, amount received, and the date the funds came into physical possession of the Applicant.
The following documentation, depending on the Matching Funds type, must be available to be provided to the CDFI Fund upon request:
loanthe loan agreement and/or promissory note;
grantthe grant letter or agreement;
Equity Investmentthe stock certificate, documentation of total equity outstanding, and shareholder agreement;
retained earningsRetained Earnings Calculator and audited financial statements or call reports from regulating entity for each fiscal year reported in the Retained Earnings Calculator;
third party in-kind contributionevidence of receipt of contribution and valuation;
depositscertificates of deposit agreement;
secondary capitalsecondary capital agreement and disclosure and acknowledgement statement; AND
clearly legible documentation that demonstrates actual receipt of the Matching Funds including the date of the transaction and the amount, such as a copy of a check or a wire transfer statement.
Unless Congress waived the Matching Funds requirement, Applicants must provide information on their In-Hand Matching Funds in the Matching Funds section of the FA Application in AMIS refer to Table 10Required Application Documents at the time of Application submission.
Although Applicants are not required to provide further documentation for In-Hand Matching Funds at the time of Application submission other than supporting documentation for retained earnings, deposits, and Equity Investments, which must be provided at the time of Application submission, they must be able to provide documentation to the CDFI Fund upon request.
The following Applicants must provide evidence of acceptable Matching Funds:
Category II/Core FA Applicants, with the exception of Native American CDFIs, applying for BaseFA, PPCFA, and DFFA.
TA Applicants and Native American CDFI FA Applicants are not required to provide Matching Funds.
The Matching Funds requirement for HFFIFA and SECA FA Applicants was waived in the final FY
2021 appropriations. Therefore, HFFIFA and SECA FA Applicants are not required to provide Matching Funds.
Unless waived by Congress, Applicants must provide evidence of eligible, In-Hand, dollar-for-dollar, non-Federal Matching Funds for every award dollar to be paid by the CDFI Fund. If awarded, Applicants that do not demonstrate 100% In-Hand Matching Funds at the time of Application submission may experience a longer payment timeline.
Unless the Matching Funds requirement is waived by Congress, awards will be made in comparable form and value to the eligible In-Hand and/or Committed Matching Funds submitted by the Applicant.
For awards where Congress has waived the Matching Funds requirement, the form of the award will be a grant.
For example, if an Applicant provides documentation of eligible loan Matching Funds for $200,000
and eligible grant Matching Funds of $400,000, the CDFI Fund will obligate $200,000 of the FA
award as a loan and $400,000 as a grant.
The CDFI Fund will not permit a Recipient to change the form of a loan award.
For awards where Congress waives the Matching Funds requirement, the form of the award will be a grant.
The Applicant must receive eligible In-Hand Matching Funds between January 1, 2019 and January 15, 2022.
A Recipient must provide the CDFI Fund with all documentation demonstrating the receipt of In-Hand Matching Funds by January 31, 2022.
Recipients will be approved for a maximum award size of two times the total amount of eligible InHand and/or Committed Matching Funds included in the Application, so long as they do not exceed the requested award amount.
The form of the Matching Funds documented in the Application determines the form of the award.
Matching Funds are Committed when the Applicant has entered into or received a legally binding commitment from the Matching Funds source showing that the Matching Funds will be disbursed to the Applicant at a future date.
The Applicant must provide information on their Committed Matching Funds in the Matching Funds section of the FA Application in AMIS refer to Table 10Required Application Documents at the time of Application submission.

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