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11826Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / Notices1. CDFI Rapid Response Program: TheCDFI Fund expects to award, throughthis NOFA, approximately 1.248billion as indicated in the followingtable:TABLE 2—CDFI RAPID RESPONSE PROGRAM ANTICIPATED CATEGORY AMOUNTSAward amountFunding categoriesEstimated total amount tobe awardedMinimumEstimatednumber ofawardsMaximum *CDFI Rapid Response Program. 1,223,000,000 . 200,000CDFI Rapid Response Program—Native Communities 6.No less than 25,000,000 7200,000 5,000,000 or 150% of the Applicant’s Total On-Balance Sheet Financial Products Closed in EligibleMarkets and/or Target Markets 4 in the Most RecentHistoric Fiscal Year, 5 whichever is less.5,000,000 or 150% of the Applicant’s Total On-Balance Sheet Financial Products Closed in EligibleMarkets and/or Target Markets in the Most RecentHistoric Fiscal Year, whichever is less.Estimatedaverageamount to beAwarded 31,000 1,189,000501,189,000* The CDFI Fund does not anticipate that any applicant will receive the maximum award amount of 5 million. The award is dependent on the number of awardsmade, for example: If there are 510 awards, the estimated largest award would be 3.3 million; if there are 800 awards, the estimated largest award would be 1.8million; and if there are 1,050 awards, the estimated largest award would be 1.4 million.khammond on DSKJM1Z7X2PROD with NOTICESThe CDFI Fund reserves the right toaward more or less than the amountscited above in each category, basedupon available funding and otherfactors, as appropriate.2. Funding Availability for the CDFIRapid Response Program: Funding forthe CDFI Rapid Response Program isprovided through The CoronavirusResponse and Relief Supplemental3 The Estimated Average Amount to be Awardedis derived from the Estimated Total Amount to beAwarded divided by the Estimated Number ofAwards for both funding categories.4 Total On-Balance Sheet Financial ProductsClosed in Eligible Markets and/or Target Markets isthe sum of the following Application Financial Datainputs in the CDFI Rapid Response ProgramApplication: On-Balance Sheet Loans Closed inEligible Markets and/or Target Markets, On-BalanceSheet Loan Guarantees Made in Eligible Marketsand/or Target Markets, and Total EquityInvestments Closed in Eligible Markets and/orTarget Markets.5 For the purposes of this NOFA, an Applicant’smost recent historic fiscal year end is determinedas follows:(A) Applicants with a 3/31 fiscal year end datewill treat FY 2020 as their most recent historicfiscal year and FY 2021 as their current year.(B) Applicants with a 6/30 fiscal year end datewill treat FY 2020 as their most recent historicfiscal year and FY 2021 as their current year.(C) Applicants with a 9/30 fiscal year end dateand a completed FY 2020 audit will treat FY 2020as their most recent historic fiscal year and FY 2021as their current year.(D) Applicants with a 9/30 fiscal year end datebut without a completed FY 2020 audit will treatFY 2019 as their most recent historic fiscal year andFY 2020 as their current year.(E) Applicants with a 12/31 fiscal year end date,with or without a completed FY 2020 audit, willtreat FY 2019 as their most recent historic fiscalyear and FY 2020 as their current year.6 Native Communities shall mean NativeAmerican, Alaska Native, or Native Hawaiianpopulations or Native American areas defined asFederally-designated reservations, Hawaiianhomelands, Alaska Native Villages and U.S. CensusBureau-designated Tribal Statistical Areas.7 In accordance with the Authorizing Statute, noless than 25 million will be awarded as grants tobenefit Native American, Native Hawaiian, andAlaska Native communities.VerDate Sep 11 201418:20 Feb 25, 2021Jkt 253001Appropriations Act of 2021 (Pub. L.116–260).3. Anticipated Start Date and Periodof Performance: The Period ofPerformance for CDFI Rapid ResponseProgram grants begins with the date ofthe award announcement and includesa Certified CDFI Recipient’s two fullconsecutive fiscal years after the date ofthe award announcement, during whichthe Recipient must meet thePerformance Goals and Measures(PG&Ms) set forth in the AssistanceAgreement.B. Types of Awards: Through theCDFI Rapid Response Program, the CDFIFund provides awards in the form ofgrants to Certified CDFIs. At least 25million of the funds available must beawarded in the form of a grant toCertified CDFIs that serve NativeCommunities.8 The CDFI Fund reservesthe right, in its sole discretion, toprovide a CDFI Rapid Response Programgrant in an amount other than that8 To qualify as a CDFI that serves NativeCommunities an Applicant must meet severalrequirements.1. 50% or more of the Applicant’s past activitiesmust be directed to Native Communities.2. The Applicant’s certification Target Marketmust have one or more of the followingcharacteristics.a. For qualifying with an Investment Area TargetMarket, the Applicant must demonstrate that theInvestment Area approved for certification is alsoa geographic area of Federally-designatedreservations, Hawaiian homelands, Alaska NativeVillages and U.S. Census Bureau designated TribalStatistical Areas; and/orb. For qualifying with an Other TargetedPopulation (OTP) Target Market, the Applicant’sTarget Market approved for certification must be anOTP of Native Americans or American Indians,including Alaska Natives living in Alaska andNative Hawaiians living in Hawaii.For purposes of this NOFA, a Native Communityis defined as Native American, Alaska Native, orNative Hawaiian populations or Native Americanareas defined as Federally-designated reservations,Hawaiian homelands, Alaska Native Villages andU.S. Census Bureau-designated Tribal Statisticalareas.PO 00000Frm 00108Fmt 4703Sfmt 4703which the Applicant requests; however,the CDFI Rapid Response Program grantamount will not exceed the Applicant’srequest as stated in its Application.C. Eligible Activities:1. CDFI Rapid Response Program:CDFI Rapid Response Program grantfunds may be expended for eligibleactivities serving Commercial RealEstate, Small Business, Microenterprise,Community Facilities, ConsumerFinancial Products, Consumer FinancialServices, Commercial FinancialProducts, Commercial FinancialServices, Affordable Housing,Intermediary Lending to Non-Profitsand CDFIs, and other lines of businessas deemed appropriate by the CDFIFund in the following five categoriessupporting the direct provision offinancial products and services: (i)Financial Products; (ii) FinancialServices; (iii) Loan Loss Reserves; (iv)Development Services; and (v) CapitalReserves. In addition, the greater of 200,000 or 15% of the CDFI RapidResponse Program grant may beexpended for supporting operations inthe following seven eligible activitycategories: (vi) Compensation—PersonalServices; (vii) Compensation—FringeBenefits; (viii) Professional ServiceCosts; (ix) Travel Costs; (x) Training andEducation Costs; (xi) Equipment; and(xii) Supplies. CDFI Rapid ResponseProgram grants may only be used forDirect Costs associated with an eligibleactivity. Direct Costs are incurred by theRecipient to carry out the award eligibleactivities is as described in section 2CFR 200.413 of the UniformRequirements. The eligible activitycategories will not be authorized forIndirect Costs or an associated IndirectCost Rate. Any expenses that areprohibited by the UniformRequirements are unallowable and areE:\FR\FM\26FEN1.SGM26FEN1

Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / Noticesgenerally found in Subpart E-CostPrinciples.The CDFI Rapid Response ProgramBudget is the amount of the award andmust be expended in the 12 eligibleactivity categories prior to the end of theBudget Period.9 The CDFI Fund will notapprove an amendment to extend theBudget Period to allow a Recipientadditional time to expend the CDFIRapid Response Program grant.CDFI Rapid Response ProgramRecipients must meet certain PG&Ms:(i) All CDFI Rapid Response ProgramRecipients must expend 90% of theRecipient’s first payment amount in thefirst year of the Budget Period andexpend 100% of the total award amountby the Budget Period end date.(ii)(a) Recipients that receive anaward greater than 200,000 (theminimum award amount) and that donot qualify for CDFI Rapid ResponseProgram funding designated to benefitNative Communities, must meet thefollowing requirement:—Close Financial Products in anEligible Market(s) or the Recipient’sapproved Target Market in an amountequal to or greater than 50% of thetotal CDFI Rapid Response Programaward amount in the first year of thePeriod of Performance and 70% of thetotal CDFI Rapid Response Programaward amount by the Period ofPerformance end date. If awarded, theApplicant may satisfy this goal usingthe CDFI Rapid Response ProgramAssistance or other available funds onits balance sheet.(ii)(b) Recipients that receive anaward greater than 200,000 (theminimum award amount) and thatqualify for CDFI Rapid ResponseProgram funding designated to benefitNative Communities must meet thefollowing requirement:—Close Financial Products in NativeCommunities in an amount equal toor greater than 50% of the total CDFIRapid Response Program awardamount in the first year of the Periodof Performance and 70% of the total11827CDFI Rapid Response Program awardamount by the Period of Performanceend date. If awarded, the Applicantmay satisfy this goal using the CDFIRapid Response Program Assistanceor other available funds on its balancesheet.Final PG&Ms may differ and will beset forth in the final CDFI RapidResponse Program AssistanceAgreement. Financial Products andexpended award funds used to satisfythe CDFI Rapid Response ProgramPerformance Goals may not also bereported for Performance Goals relatedto CDFI Program and NACA Programawards.The Recipient must comply, asapplicable, with the Buy American Actof 1933, 41 U.S.C. 8301–8303 andsection 2 CFR 200.216 of the UniformRequirements,10 with respect to anyDirect Costs.For purposes of this NOFA, the 12eligible activity categories are definedbelow:TABLE 3—CDFI RAPID RESPONSE PROGRAM ELIGIBLE ACTIVITY CATEGORIESEligible activityEligible activity definition *i. Financial Products .Grant funds expended as loans, Equity Investments and similar financing activities (as determined by the CDFI Fund) including thepurchase of loans originated by Certified CDFIs and the provisionof loan guarantees. In the case of CDFI Intermediaries, FinancialProducts may also include loans to CDFIs and/or Emerging CDFIs,and deposits in Insured Credit Union CDFIs, Emerging InsuredCredit Union CDFIs, and/or State-Insured Credit Union CDFIs.Grant funds expended for providing checking, savings accounts,check cashing, money orders, certified checks, automated tellermachines, deposit taking, safe deposit box services, and othersimilar services.Grant funds 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 CDFIFund deems appropriate.Grant funds expended for activities undertaken by a CDFI, its Affiliateor contractor that (i) promote community development and (ii) prepare or assist current or potential borrowers or investees to use theCDFI’s Financial Products or Financial Services. For example,such activities include financial or credit counseling; homeownership counseling; business planning; and management assistance.Grant funds set aside as reserves to support the Applicant’s ability toleverage other capital, for such purposes as increasing its net assets or providing financing, or for related purposes as the CDFIFund deems appropriate.ii. Financial Services .iii. Loan Loss Reserves .iv. Development Services .khammond on DSKJM1Z7X2PROD with NOTICESv. Capital Reserves .9 Budget Period means the time interval from thestart date of a funded portion of an award to theend date of that funded portion during whichRecipients are authorized to expend the fundsawarded. The Budget Period for CDFI RapidResponse Program grants begins with the date of theVerDate Sep 11 201418:20 Feb 25, 2021Jkt 253001award announcement and includes a Certified CDFIRecipient’s two full consecutive fiscal years afterthe date of the award announcement.10 § 2 CFR 200.216 prohibits Recipients andSubrecipients from obligating or expending loan orgrant funds to procure or obtain, by contract orPO 00000Frm 00109Fmt 4703Sfmt 4703Eligible CDFI institution typesAll.Regulated Institutions 11 only.All.All.Regulated Institutions only.otherwise, equipment, services, or systems that use‘‘covered telecommunications equipment’’. As usedherein, ‘‘covered telecommunications equipment’’is telecommunications equipment produced byHuawei Technologies Company or ZTE Corporation(or any Subsidiary or Affiliate of such entities).E:\FR\FM\26FEN1.SGM26FEN1

11828Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / NoticesTABLE 3—CDFI RAPID RESPONSE PROGRAM ELIGIBLE ACTIVITY CATEGORIES—ContinuedEligible activityEligible activity definition *Eligible CDFI institution typesOnly the greater of 200,000 or 15 percent of the CDFI Rapid Response Program grant may be expended in the below seven eligible activitycategories.vi. Compensation—Personal Services.vii. Compensation—Fringe Benefitsviii. Professional Service Costs .ix. Travel Costs .x. Training and Education Costs .xi. Equipment .khammond on DSKJM1Z7X2PROD with NOTICESxii. Supplies .Grant funds paid to cover all remuneration, paid currently or accrued,for services of Applicant’s employees rendered during the Period ofPerformance under the CDFI Rapid Response Program grant inaccordance with section 200.430 of the Uniform Requirements.Any work performed directly, but unrelated to the purposes of theCDFI Rapid Response Program grant may not be paid as Compensation using a CDFI Rapid Response Program grant. For example, the salaries for building maintenance personnel would notcarry out the purpose of a CDFI Rapid Response Program grantand would be deemed unallowable.Grant funds paid to cover allowances and services provided by theApplicant to its employees as Compensation in addition to regularsalaries and wages, in accordance with section 200.431 of the Uniform Requirements. Such expenditures are allowable as long asthey are made under formally established and consistently appliedorganizational policies of the Applicant.Grant funds used to pay for professional and consultant services(e.g., such as strategic and marketing plan development), renderedby persons who are members of a particular profession or possessa special skill (e.g., credit analysis, portfolio management), andwho are not officers or employees of the Applicant, in accordancewith section 200.459 of the Uniform Requirements. Payment for aconsultant’s services may not exceed the current maximum of thedaily equivalent rate paid to an Executive Schedule Level IV Federal employee. The Applicant must comply, as applicable, with section 2 CFR 200.216 of the Uniform Requirements, with respect topayment of Professional Service Costs.Grant funds used to pay costs of transportation, lodging, subsistence,and related items incurred by the Applicant’s personnel who are ontravel status on business related to the CDFI Rapid Response Program grant, in accordance with section 200.475 of the Uniform Requirements. Travel Costs do not include costs incurred by the Applicant’s consultants who are on travel status. Any payments fortravel expenses incurred by the Applicant’s personnel but unrelatedto carrying out the purpose of the CDFI Rapid Response Programgrant would be deemed unallowable. As such, documentation mustbe maintained that justifies the travel as necessary to the CDFIRapid Response Program grant.Grant funds used to pay the cost of training and education providedby the Applicant for employees’ development in accordance withsection 200.473 of the Uniform Requirements. Grant funds canonly be used to pay for training costs incurred by the Applicant’semployees. Training and Education Costs may not be incurred bythe Applicant’s consultants.Grant funds used to pay for tangible personal property, having a useful life of more than one year and a per-unit acquisition cost of atleast 5,000, in accordance with section 200.1 of the Uniform Requirements. For example, items such as office furnishings and information technology systems are allowable as Equipment costs.The Applicant must comply, as applicable, with the Buy AmericanAct of 1933, 41 U.S.C. 8301–8303 and section 2 CFR 200.216 ofthe Uniform Requirements, with respect to the purchase of Equipment.Grant funds used to pay for tangible personal property with a per unitacquisition cost of less than 5,000, in accordance with section200.1 of the Uniform Requirements. For example, a desktop computer costing 1,000 is allowable as a Supply cost. The Applicantmust comply, as applicable, with the Buy American Act of 1933, 41U.S.C. 8301–8303 and section 2 CFR 200.216 of the Uniform Requirements, with respect to the purchase of Supplies.All.All.All.All.All.All.All.* All CDFI Rapid Response Program eligible activities must be in an Eligible Market or the Applicant’s approved Target Market. Eligible Marketis defined as (i) a geographic area meeting the requirements set forth in 12 CFR 1805.201(b)(3)(ii), 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.VerDate Sep 11 201418:20 Feb 25, 2021Jkt 253001PO 00000Frm 00110Fmt 4703Sfmt 4703E:\FR\FM\26FEN1.SGM26FEN1

Federal Register / Vol. 86, No. 37 / Friday, February 26, 2021 / NoticesIII. Eligibility InformationA. Eligible Applicants: For thepurposes of this NOFA, the followingtables set forth the eligibility criteria toreceive an award from the CDFI Fund,along with certain definitions of terms.Table 4 below illustrates eligibilitycriteria for all CDFI Rapid Response11829Program Applicants including CDFIcertification criteria and otherrequirements that apply to all CDFIRapid Response Program Applicants.12TABLE 4—ELIGIBILITY REQUIREMENTS FOR ALL CDFI RAPID RESPONSE PROGRAM APPLICANTSApplicant .Application type and submission overviewthrough Grants.gov and Awards ManagementInformation System (AMIS).khammond on DSKJM1Z7X2PROD with NOTICESEmployer Identification Number (EIN) .Dun & Bradstreet, (DUNS) number .11 Regulated Institutions include Insured CreditUnions, Insured Depository Institutions, State-VerDate Sep 11 201418:20 Feb 25, 2021Jkt 253001 Only the entity that will carry out the proposed award activities may apply for an award(other than Depository Institution Holding Companies (DIHC) 12—see below). Recipientsmay not create a new legal entity to carry out the proposed award activities. The information in the Application should only reflect the activities of the Applicant, includingthe presentation of financial and portfolio information. Do not include financial or portfolio information from parent companies, Affiliates, or Subsidiaries in the Application unless it relates to the provision of Development Services. An Applicant that applies on behalf of another organization will be rejected without furtherconsideration, other than Depository Institution Holding Companies (see below). Applicants must submit the Required Application Documents listed in Table 5. The CDFI Fund will only accept Applications that use the official Application templates provided on the Grants.gov and AMIS websites. Applications submitted with alternative or altered templates will not be considered. Applicants undergo a two-step process that requires the submission of Application documents by two separate deadl

U.S.C. 30118, and a remedy for the noncompliance, as required by 49 U.S.C. 30120, should be granted. NHTSA notes that the statutory provisions (49 U.S.C. 30118(d) and 30120(h)) that permit manufacturers to file petitions for a determination of inconsequentiality allow NHTSA to exempt manufacturers only from the duties found in sections 30118 and