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tkelley on DSKBCP9HB2PROD with NOTICES

Federal Register / Vol. 86, No. 32 / Friday, February 19, 2021 / Notices information provided by the Appropriate Federal or State Banking Agencies about both the CDFI
Depository Institution Holding Company and the Certified CDFI
Subsidiary Insured Depository Institution that will expend and carry out the award. If the Appropriate Federal or State Banking Agency identifies safety and soundness concerns, the CDFI Fund will assess whether such concerns cause or will cause the Applicant to be incapable of undertaking the activities for which funding has been requested.
7. Non-Regulated Institutions:
The CDFI Fund must ensure, to the maximum extent practicable, that Recipients which are non-regulated CDFIs are financially and managerially sound, and maintain appropriate internal controls 12 U.S.C. 4707f1A
and 12 CFR 1805.800b. Further, the CDFI Fund must determine that an Applicants capacity to operate as a CDFI and its continued viability will not be dependent upon assistance from the CDFI Fund 12 U.S.C. 4704b2A. If it is determined that the Applicant is incapable of meeting these requirements, the CDFI Fund reserves the right to deem the Applicant ineligible or terminate the award.
B. Anticipated Award Announcement:
The CDFI Fund anticipates making NACA Program award announcement before September 30, 2021. However, the anticipated award Announcement Date is subject to change without notice.
C. Application Rejection: The CDFI
Fund reserves the right to reject an Application if information including administrative errors comes to the CDFI
Funds attention that: Adversely affects an Applicants 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 or scoring of an Application; or indicates fraud or mismanagement on the Applicants 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. The CDFI
Fund reserves the right to change its eligibility and evaluation criteria and procedures, if the CDFI Fund deems it appropriate. If the changes materially affect the CDFI Funds award decisions, the CDFI Fund will provide information about the changes through its website.
The CDFI Funds award decisions are final, and there is no right to appeal decisions.
D. External Non-CDFI Fund Reviewers: All external non-CDFI Fund
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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 Periods of Performance for Certified CDFIs, three-year Periods of Performance for Emerging CDFIs, and four-year Periods of Performance for Sponsoring Entity Recipients. Upon creation of the Emerging CDFI, the Sponsoring Entity must request the CDFI Fund to amend the Assistance Agreement and add the Emerging CDFI
as a party thereto. The Emerging CDFI, as co-Recipient, will be subject to all of the terms and conditions of the Assistance Agreement, including all PG&Ms.
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
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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. 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
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