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Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices
final, and there is no right to appeal decisions.
D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund reviewers are selected based on criteria that includes a professional background in community and economic development finance, and experience reviewing the financial statements of all CDFI institution types. Reviewers must complete the CDFI Funds conflict of interest process and be approved by the CDFI Fund. The CDFI Funds Application reader conflict of interest policy is located on the CDFI Funds website.
VI. Federal Award Administration Information A. Award Notification: Each successful Applicant will receive an email notice of award notification from the CDFI Fund stating that its Application has been approved for an award. Each Applicant not selected for an award will receive an email stating that a debriefing notice has been provided in its AMIS account.
B. Assistance Agreement: Each Applicant selected to receive an award must enter into an Assistance Agreement with the CDFI Fund in order to receive a payments. The Assistance Agreement will set forth the awards terms and conditions, including but not be limited to the: i Award amount; ii award type; iii award uses; iv eligible use of funds; v PG&Ms; and vi reporting requirements. FA Assistance Agreements have three-year Periods of Performance. TA Assistance Agreements have two-year Period of Performance for Certified CDFIs and three-year Periods of Performance for Emerging CDFIs.
1. Certificate of Good Standing: All FA and TA Recipients that are not Regulated Institutions will be required to provide the CDFI Fund with a
certificate of good standing from the secretary of state for the Recipients jurisdiction of formation prior to closing. This certificate can often be acquired online on the secretary of state website for the Recipients jurisdiction of formation and must generally be dated within 180 days prior to the date the Recipient executes the Assistance Agreement. Due to potential backlogs in state government offices, Applicants are advised to submit requests for certificates of good standing no later than 60 days after they submit their Applications.
2. Closing: Pursuant to the Assistance Agreement, there will be an initial closing at which point the Assistance Agreement and related documents will be properly executed and delivered, and an initial payment of FA or TA may be made. FA Recipients that are subject to the Matching Funds requirement will not receive a payment until 100% of their Matching Funds are In-Hand. The first payment is the estimated amount of the award that the Recipient states in its Application that it will use for eligible FA or TA activities in the first 12
months after the award announcement.
The CDFI Fund reserves the right to increase the first payment amount on any award to ensure that any subsequent payments are at least $25,000 for FA and $5,000 for TA
awards.
The CDFI Fund will minimize the time between the Recipient incurring costs for eligible activities and award payments in accordance with the Uniform Requirements. Advanced payments for eligible activities will occur no more than one year in advance of the Recipient incurring costs for the eligible activities. Following the initial closing, there may be subsequent closings involving additional award payments. Any documentation in
addition to the Assistance Agreement that is connected with such subsequent closings and payments shall be properly executed and timely delivered by the Recipient to the CDFI Fund.
3. Requirements Prior to Entering into an Assistance Agreement: If, prior to entering into an Assistance Agreement, information including administrative errors comes to the CDFI Funds attention that: Adversely affects the Recipients eligibility for an award;
adversely affects the Recipients certification as a CDFI to the extent that the award is conditional upon CDFI
certification; adversely affects the CDFI
Funds 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 a prior CDFI
Fund award; indicates the Recipient has failed to execute and return a prior round Assistance Agreement to the CDFI Fund within the CDFI Funds deadlines; or indicates fraud or mismanagement on the Recipients 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. The CDFI Fund reserves the right, in its sole discretion, to rescind an award if the Recipient fails to return the Assistance Agreement, signed by the Authorized Representative of the Recipient, and/or provide the CDFI Fund with any requested documentation, within the CDFI Funds deadlines.
In addition, the CDFI Fund reserves the right, in its sole discretion, to terminate and rescind the Assistance Agreement and the award made under this NOFA pending the criteria described in the following table:

TABLE 18REQUIREMENTS PRIOR TO EXECUTING AN ASSISTANCE AGREEMENT
Requirement
Criteria
Failure to meet reporting requirements

If a Recipient received a prior award under any CDFI Fund program and is not in compliance with the reporting requirements of the previously executed agreements, the CDFI
Fund may delay entering into an Assistance Agreement or disbursing an award until such reporting requirements are met. If the Recipient is unable to meet the requirements within the timeframe specified by the CDFI Fund, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA.
The automated systems the CDFI Fund uses only acknowledge a reports receipt and are not a determination of meeting reporting requirements.
An FA Recipient must be a Certified CDFI.
If an FA Recipient fails to maintain CDFI certification, the CDFI Fund will terminate and rescind the Assistance Agreement and the award made under this NOFA.
If a TA Recipient is a Certified CDFI at the time of award announcement, it must maintain CDFI certification.
If a Certified CDFI TA Recipient fails to maintain CDFI certification, the CDFI Fund may terminate and rescind the Assistance Agreement and the award made under this NOFA.

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