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Federal Register / Vol. 86, No. 41 / Thursday, March 4, 2021 / Notices
f. Non-government Entity requirement 12 CFR 1805.201b6: To be a Certified CDFI, an entity can neither be a government entity nor be Controlled by one or more governmental entities.
g. for the FY 2021 application round of the CDFI Bond Guarantee Program, only one Affiliate per Controlling CDFI
may participate as an Eligible CDFI.
However, there may be more than one Affiliate participating as an Eligible CDFI in any given Bond Issue.
3. Operating agreement: An operating agreement between an Affiliate and its Controlling CDFI, as described above, must provide, in addition to the elements set forth above, among other items: i Conclusory evidence that the Controlling CDFI Controls the Affiliate, through investment and/or ownership;
ii explanation of all roles, responsibilities and activities to be performed by the Controlling CDFI
including, but not limited to, governance, financial management, loan underwriting and origination, recordkeeping, insurance, treasury services, human resources and staffing, legal counsel, dispositions, marketing, general administration, and financial reporting; iii compensation arrangements; iv the term and termination provisions; v indemnification provisions, if applicable; vi management and ownership provisions; and vii default and recourse provisions.
4. For more detailed information on CDFI certification requirements, please review the CDFI certification regulation 12 CFR 1805.201, as revised on April 10, 2015 and CDFI Certification Application materials/guidance posted on the CDFI Funds website. Interested parties should note that there are specific regulations and requirements that apply to Depository Institution Holding Companies, Insured Depository Institutions, Insured Credit Unions, and State-Insured Credit Unions.
5. Uncertified entities, including an Affiliate of a Controlling CDFI, that wish to apply to be certified and designated as an Eligible CDFI in the FY 2021
application round of the CDFI Bond Guarantee Program must submit a CDFI
Certification Application to the CDFI
Fund by 11:59 p.m. ET on April 2, 2021.
Any CDFI Certification Application received after such date and time, as well as incomplete applications, will not be considered for the FY 2021
application round of the CDFI Bond Guarantee Program.
6. In no event will the Secretary approve a Guarantee for a Bond from which a Bond Loan will be made to an entity that is not an Eligible CDFI. The Secretary must make FY 2021 Guarantee
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Application decisions, and the CDFI
Fund must close the corresponding Bonds and Bond Loans, prior to the end of FY 2021 September 30, 2021.
Accordingly, it is essential that CDFI
Certification Applications are submitted timely and in complete form, with all materials and information needed for the CDFI Fund to make a certification decision. Information on CDFI
certification, the CDFI Certification Application, and application submission instructions may be found on the CDFI Funds website at www.cdfifund.gov.
B. Recourse and Collateral Requirements.
1. General Recourse Structure. Under the GRS, the Bond is a nonrecourse obligation to the Qualified Issuer, and the Bond Loan is a full general recourse obligation to the Eligible CDFI.
2. Alternative Financial Structure. An AFS can be used as a limited recourse option to a Controlling CDFI or group of Controlling CDFIs. The AFS is an Affiliate of a Controlling CDFIs that is created for the sole purpose of participation as an Eligible CDFI in the CDFI Bond Guarantee Program. The AFS must be an Affiliate of a Controlling CDFIs and must be certified as a CDFI in accordance with the requirements set forth in Section IIA of this NOGA. The AFS, as the Eligible CDFI, provides a general full recourse obligation to repay the Bond Loan, and the Bond Loan is on the balance sheet of the AFS. The requirements for the AFS are delineated in the template term sheet located on the CDFI Fund website at https
www.cdfifund.gov/programs-training/
Programs/cdfi-bond/Pages/applystep.aspxstep2.
C. Application Submission.
1. Electronic submission. All Qualified Issuer Applications and Guarantee Applications must be submitted through the CDFI Funds Awards Management Information System AMIS. Applications sent by mail, fax, or other form will not be permitted, except in circumstances that the CDFI Fund, in its sole discretion, deems acceptable. Please note that Applications will not be accepted through Grants.gov. For more information on AMIS, please visit the AMIS Landing Page at https
amis.cdfifund.gov.
2. Applicant identifier numbers.
Please note that, pursuant to Office of Management and Budget OMB
guidance 68 FR 38402, each Qualified Issuer applicant and Guarantee applicant must provide, as part of its Application, its Dun and Bradstreet Data Universal Numbering System DUNS

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number, as well as DUNS numbers for its proposed Program Administrator, its proposed Servicer, and each Certified CDFI that is included in the Qualified Issuer Application and Guarantee Application. In addition, each Application must include a valid and current Employer Identification Number EIN, with a letter or other documentation from the IRS confirming the Qualified Issuer applicants EIN, as well as EINs for its proposed Program Administrator, its proposed Servicer, and each Certified CDFI that is included in any Application. An Application that does not include such DUNS numbers, EINs, and documentation is incomplete and will be rejected by the CDFI Fund.
Applicants should allow sufficient time for the IRS and/or Dun and Bradstreet to respond to inquiries and/or requests for the required identification numbers.
3. System for Award Management SAM. Registration with SAM is required for each Qualified Issuer applicant, its proposed Program Administrator, its proposed Servicer, and each Certified CDFI that is included in any Application. The CDFI Fund will not consider any Applications that do not meet the requirement that each entity must be properly registered before the date of Application submission. The SAM registration process may take one month or longer to complete. A signed notarized letter identifying the SAM
authorized entity administrator for the entity associated with the DUNS
number is required. This requirement is applicable to new entities registering in SAM, as well as to existing entities with registrations being updated or renewed in SAM. Applicants without DUNS and/
or EIN numbers should allow for additional time as an applicant cannot register in SAM without those required numbers. 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. The CDFI Fund will not consider any applicant that fails to properly register or activate its SAM
account and these restrictions also apply to organizations that have not yet received a DUNS or EIN number.
Applicants must contact SAM directly with questions related to registration or SAM account changes as the CDFI Fund does not maintain this system and has no ability to make changes or correct
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