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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices 5. TA Grants: TA is provided in the form of grants. The CDFI Fund reserves the right, in its sole discretion, to provide a TA grant in an amount other than that which the Applicant requests;
however, the TA grant amount will not exceed the Applicants request as stated in its Application.
C. Eligible Activities 1. FA Awards: Base-FA, PPCFA, DF
FA, and HFFIFA award funds may be expended for activities serving Commercial Real Estate, Small Business, Microenterprise, Community Facilities, Consumer Financial Products, Consumer Financial Services, Commercial Financial Products, Commercial Financial Services, Affordable Housing, Intermediary Lending to Non-Profits and CDFIs, and other lines of business as deemed appropriate by the CDFI Fund in the following five categories: i Financial Products; ii Financial Services; iii Loan Loss Reserves; iv Development Services; and v Capital Reserves. The
FA Budget is the amount of the award and must be expended in the five eligible activity categories prior to the end of the Budget Period.6 None of the eligible activity categories will be authorized for Indirect Costs or an associated Indirect Cost Rate. Base-FA
Recipients must meet PG&Ms, which will be derived from projections and attestations provided by the Applicant in its Application, to achieve one or more of the following FA Objectives: i Increase Volume of Financial Products in an Eligible Markets and/or in the Applicants approved Target Market and/or Increase Volume of Financial Services in an Eligible Markets and/or in the Applicants approved Target Market; ii Serve Eligible Markets or the Applicants approved Target Market in New Geographic Area or Areas; iii Provide New Financial Products in an Eligible Markets and/or in the Applicants approved Target Market, Provide New Financial Services in an Eligible Markets and/or in the Applicants approved Target Market, or
Provide New Development Services in an Eligible Markets and/or in the Applicants approved Target Market;
and iv Serve New Targeted Population or Populations. FA awards may only be used for Direct Costs associated with an eligible activity; no indirect expenses are allowed. Up to 15% of the FA award may be used for Direct Administrative Expenses associated with an eligible FA
activity. Direct Administrative Expenses shall mean Direct Costs, as described in 2 CFR 200.413 of the Uniform Requirements, which are incurred by the Recipient to carry out the Financial Assistance. Direct Costs incurred to provide Development Services or Financial Services do not constitute Direct Administrative Expenses.
The Recipient must comply, as applicable, with the Buy American Act of 1933, 41 U.S.C. 83018303 and 2 CFR
200.216 of the Uniform Requirements,7
with respect to any Direct Costs. For purposes of this NOFA, the five eligible activity categories are defined below:

TABLE 3BASEFA, PPCFA, DFFA, AND HFFIFA ELIGIBLE ACTIVITY CATEGORIES
Eligible CDFI institution types
FA eligible activity
FA eligible activity definition

i. Financial Products

FA expended as loans, Equity Investments and similar financing activities as determined by the CDFI Fund including the purchase of loans originated by Certified CDFIs and the provision of loan guarantees. In the case of CDFI Intermediaries, Financial Products may also include loans to CDFIs and/or Emerging CDFIs, and deposits in Insured Credit Union CDFIs, Emerging Insured Credit Union CDFIs, and/or State-Insured Credit Union CDFIs.
For HFFIFA, however, the purchase of loans originated by Certified CDFIs, loan refinancing, or any type of financing for prepared food outlets are not eligible activities.
FA expended for providing checking, savings accounts, check cashing, money orders, certified checks, automated teller machines, deposit taking, safe deposit box services, and other similar services.
FA set aside in the form of cash reserves, or through accounting-based accrual reserves, to cover losses on loans, accounts, and notes receivable or for related purposes that the CDFI Fund deems appropriate.
FA expended for activities undertaken by a CDFI, its Affiliate or contractor that i promote community development and ii prepare or assist current or potential borrowers or investees to use the CDFIs Financial Products or Financial Services. For example, such activities include financial or credit counseling; homeownership counseling; business planning; and management assistance.
FA set aside as reserves to support the Applicants ability to leverage other capital, for such purposes as increasing its net assets or providing financing, or for related purposes as the CDFI Fund deems appropriate.

ii. Financial Services
iii. Loan Loss Reserves
iv. Development Services

v. Capital Reserves

All.

Regulated Institutions 8
only. Not applicable for HFFI-FA Recipients.
All.
All.

Regulated Institutions only.
Not applicable for DF
FA.

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All FA eligible activities must be in an Eligible Market or the Applicants approved Target Market. Eligible Market is defined as i a geographic area meeting the requirements set forth in 12 CFR 1805.201b3ii, or ii individuals that are Low-Income, African American, Hispanic, Native American, Native Hawaiians residing in Hawaii, Alaska Natives residing in Alaska, or Other Pacific Islanders residing in American Samoa, Guam or the Northern Mariana Islands.

6 Budget Period means the time interval from the start date of a funded portion of an award to the end date of that funded portion during which Recipients are authorized to expend the funds awarded.

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7 2 CFR 200.216 prohibits Recipients and Subrecipients from obligating or expending loan or grant funds to procure or obtain, by contract or otherwise, equipment, services, or systems that use covered telecommunications equipment. As used herein, covered telecommunications equipment is telecommunications equipment produced by
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Huawei Technologies Company or ZTE Corporation or any Subsidiary or Affiliate of such entities.
8 Regulated Institutions include Insured Credit Unions, Insured Depository Institutions, StateInsured Credit Unions and Depository Institution Holding Companies.

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