Capital Magnet Fund Application

Capital Magnet Fund Application and Annual Report Forms

1559-0036 CMF Application Template 2021

Capital Magnet Fund Application - State, Local and Tribal Applicants

OMB: 1559-0036

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CMF APPLICATION TEMPLATE

The Community Development Financial Institutions Fund (CDFI Fund) is publishing this Capital Magnet Fund (CMF) Application Template (Application Template) in conjunction with the Notice for Public Comment on proposed and/or continuing information collection, as required by the Paperwork Reduction Act (PRA) of 1995, 44 U.S.C. 3506(c)(2)(A). This Application Template is provided for the purposes of soliciting comments on the appropriateness of the information collected in the Application. The CMF Application is an online form submitted through the CDFI Fund’s Award Management Information System (AMIS).

The Capital Magnet Fund (CMF) is administered by the CDFI Fund. Through the CMF, the CDFI Fund provides financial assistance grants to Certified Community Development Financial Institutions (CDFIs) and to qualified Nonprofit Organizations that have the development or management of affordable housing as one of their principal purposes.


In order to understand the requirements of the CMF, including eligible uses of financial assistance grants, potential Applicants should review the CMF Interim Rule (12 C.F.R. 1807). Capitalized terms not defined in this Application Template (other than titles) have meanings set forth in the CMF Interim Rule or the Notice of Funds Availability (NOFA). The CMF Interim Rule and most recent NOFA are available on the CDFI Fund’s website: www.cdfifund.gov/cmf.


In order to facilitate review of this Application Template in Comment, new or substantially revised questions compared with the FY 2020 CMF Application are highlighted. A number of less substantive changes were also made relative to the FY 2020 CMF Application, but these changes were not highlighted.








APPLICATION TEMPLATE INSTRUCTIONS


______________________________________________________________________________________________

AMIS Application Overview

This document provides the full question text and related guidance for the information that will be entered into the CMF Application in AMIS.


In order to facilitate the crosswalk between this Application Template document and AMIS, each Application question in this document will be presented in a table that contains the following information:


  • Full question text

  • Response

  • Notes/guidance relevant to that specific question or sub-question

  • AMIS Field Type


AMIS FIELD TYPES

Below is an overview of the nine field types you will encounter in completing the Application in AMIS.

  • Auto-populated/Auto-calculated: These fields be will be automatically populated in AMIS based on other data inputs. No data entry is required for fields that are marked “auto-populated” or “auto-calculated.”

  • Checkmark: These fields allow the Applicant to check a box to select a corresponding option.

  • Currency: These fields allow the Applicant to enter currency data points and have a dollar sign in front. For example, Award Request Amount: $2,000,000.

  • Look-up: These fields allow the Applicant to search and select data fields for an existing list in the AMIS database. For example, when entering geographic areas, the Applicant can “look-up” counties or states.

  • Narrative: These fields allow the Applicant to enter text (non-numeric data). These fields will also have a character limit as indicated in each question.

  • Numeric: These fields allow the Applicant to enter a number (that is not a dollar figure or a percentage). For example, the number of hours to complete the Application: 100.

  • Percentage: These fields allow the Applicant to enter a percentage. For example, percentage of CMF Award that will be used as a Loan Loss Reserve: 23%.

  • Picklist: These fields allow the Applicant to select an option from a suite of choices (e.g. a dropdown of “Yes” or “No”).

  • Text: These are short text fields that allow the Applicant to enter up to 255 characters. They are used for names and short descriptions.




Program Profile and Creating an AMIS Application

Once your organization is registered in AMIS, the first step in completing the AMIS Application is to ensure that your CMF Program Profile has the correct “Entity Type.” On the Program Profile, you must make sure the field “Entity Type” is completed in order to create an Application. This selection will trigger certain validations on the AMIS Application. The options are listed below:


  • Financing Entity

  • Affordable Housing Developer/Manager


A Financing Entity is an entity whose predominant business activity is the provision of arm’s length transactions and services to independent, unrelated parties, each acting in its own best interest. Such transactions support and promote affordable housing and/or community development through the provision of financial products that serve low income communities, individuals or families with low incomes or underserved markets or communities.

An Affordable Housing Developer/Manager is a Nonprofit Organization whose primary mission is the construction, development, redevelopment, preservation or management of affordable housing. The Affordable Housing Developer may own the housing that is developed; may own it in part, such as a limited partnership; may sell the homeownership housing it develops once completed; or may sell but continue to manage the housing if rental housing. CDFIs who have the construction, development, redevelopment, preservation or management of affordable housing as a predominant purpose may elect to apply as an Affordable Housing Developer/Manager.


Organization and Application Information

The first section in the Application is the Organization and Application Information section. Certain information in these questions may be auto-populated in AMIS based on data from the Applicant’s organizational profile. If you need to edit any of the auto-populated fields, you must edit the information directly in the organizational profile.


Question 1 – Organization Information

Most fields in this question are auto-populated in AMIS based on the Applicant’s AMIS Organizational Profile. If you need to edit any of the information in these fields, you need to do so in the Organizational Profile. You won’t be able to edit in the Application itself.

Question Text

Response

Question Tips

Field Type

a. Organization Name

Auto-populated

This must be the formal name of the Applicant organization as it appears on all relevant legal documents such as the Articles of Incorporation. Please make sure punctuation, capitalization and spelling are correct. If the name that is currently listed in this field is not the Applicant’s legal name, please contact the CDFI Fund through a Service Request.

Auto-populated

b. Address

Auto-populated

If the address populating in this field is not correct, it will need to be changed it on the Applicant’s Organizational Profile in AMIS.

Auto-populated

c. Employer Identification Number (EIN)

Auto-populated

Must match what’s on the Applicant’s SF-424 in Grants.gov.

Auto-populated

d. Dun & Bradstreet Data Universal Numbering System (DUNS) Number

Auto-populated

Must match what’s on the Applicant’s SF-424 in Grants.gov.

Auto-populated

e. Applicant’s Date of Incorporation

Auto-populated

Only Applicants that have been in existence as a legal entity for at least three years prior to the Application deadline are eligible to apply for funding.

Auto-populated

f. Applicant’s fiscal year end

(month/day)

Auto-populated

The Applicant’s fiscal year end.

Auto-populated

g. Entity Type

Picklist (Affordable Housing Developer/Manager or Financing Entity)

Applicants select between Affordable Housing Developer/Manager and Financing Entity.

Picklist

h. Depository Institution Holding Company (DIHC) Subsidiary Name

Text

If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it must identify the name and EIN of this Certified CDFI Subsidiary depository institution. This field is optional.

Text

i. DIHC Subsidiary EIN

Numeric

See previous note. This field is conditional. It must be completed if an entry has been made in (g) above.

Numeric









Question 2 – Requested Award

Question Text

Response

Question Tips

Field Type

a. What is the total dollar amount of Award requested in this Application?

$_______

  • The Applicant should request an amount that it can use to finance eligible activities with total Eligible Project Costs at least 10 times the amount of the CMF Award. The Applicant should also request an award amount that it is confident can be Committed for use within two years of the Effective Date of the Assistance Agreement, and achieve Project Completion within five years of the Effective Date of the Assistance Agreement.

  • The Applicant may not request an amount below $500,000.

  • AMIS will require that the award amount requested be rounded to the nearest thousand (e.g. $615,000 instead of $615,123).

Currency

b. Is there an absolute minimum amount below which the Applicant would be unwilling to accept a CMF Award?

Picklist (Yes/No)

  • Having a minimum request will not affect the scoring or evaluation of the application. At the conclusion of the CDFI Fund’s review process, if the Applicant is recommended to receive less than the minimum amount identified in Question 2(c), the CDFI Fund will not provide a CMF Award to the Applicant. An Applicant with a minimum award request will need to demonstrate that it can deploy the minimum amount of capital requested in a timely manner, that it will likely achieve its proposed impacts, and that it could not successfully implement its business strategy without this minimum award amount.

  • Applicants should only respond “Yes” if their minimum request is greater than $500,000.

Picklist

c. If Yes to 2(b), provide the minimum amount:

$_______

  • The CDFI Fund reserves the right to offer Awards smaller than the Applicant’s request in Question 2(a), but the CDFI Fund will not offer an Award less than the Applicant’s minimum request in Question 2(c).

Currency

d. If Yes to 2(b), how was the minimum amount in 2(c) determined?

Narrative – 2,000 characters

  • Applicant should articulate why its business strategy would not be feasible with an Award that is less than the minimum request amount identified in 2(b).

Narrative




Question 3 – States Served

Question Text

Response

Question Tips

Field Type

a. Identify the type of Service Area requested for this Award.


__ Statewide (or territory-wide)


__ Multi-State (more than one state or territory)


  • Applicants proposing to serve a portion of a single state (city, county or regional levels), should select a Statewide Service Area.

  • An Applicant that proposes to serve a Service Area that includes a Metropolitan Area that extends across more than one state (e.g., the Philadelphia and Boston Metropolitan Areas) should select “Multi-State Service Area.”

  • The largest service area an Applicant can request is a Multi-State Service Area with up to 15 states.

  • If selected for a CMF Award, Recipients will be allowed to use up to 15% of their Award outside of their Service Area.

Picklist

b. Identify the particular states where the Applicant will deploy its CMF Award.

Look-up

  • In the search field, you can search by state name and then select the states.

  • A Statewide Service Area will cover one state/territory. Applicants planning to serve localities within just one state should select this option.

  • A Multi-State Service Area must cover at least two states/territories but no more than 15 states/territories.

  • If the Applicant is a Certified CDFI, please note that the CMF Service Area does not need to be the same as the Applicant’s CDFI Target Market.

  • If the Applicant is selected for a CMF Award and has a Multi-State Service Area, it may be held to financing/developing at least one Project in any specific state(s) within its Multi-State Service Area. Thus, the Applicant should only select geographic areas where it is confident it can deploy some of its CMF Award.

Look-up

c. Indicate which of the states selected in (b) that the Applicant has not managed, developed, or financed affordable housing or economic development in the last five years.

Checkmark

  • In AMIS, the Applicant will indicate next to each state selected in (b) if it is a state where Applicant has not managed, developed, or financed affordable housing or economic development in the last five years (e.g. since 2016).

Checkmark




Question 4 – Application Contacts

Question Text

Response

Question Tips

Field Type

a. Select a first Application Point of Contact from the Applicant’s AMIS contacts.

________

When you select an Application Point of Contact in AMIS, their email and phone number will populate. Please ensure this information is accurate or you may miss important information about the Application.

Look-up

b. Select a second Application Point of Contact from the Applicant’s AMIS contacts.

________

The Applicant must provide at least two different Application contacts and the second Application Point of Contact must be different than the first Application Point of Contact.

Look-up

c. Select a third Application Point of Contact from the Applicant’s AMIS contacts.

________

The Applicant does not have to select a third point of contact, but it is recommended. Adding more individuals makes it less likely the Applicant will miss a communication.

Look-up





Question 5 – Applicant Eligibility Criteria

Question Text

Response

Question Tips

Field Type

a. Is the Applicant a Certified CDFI as of the date of the NOFA publication?

Auto-populated (Yes/No)

The Applicant’s CDFI certification status should auto-populate in AMIS from the Applicant’s Organization Profile. If it does not, please contact the CDFI Fund as soon as possible to resolve the issue.

Auto-populated

b. If (a) is “Yes”, what is the CDFI certification number?

Auto-populated

The Applicant’s CDFI certification number should pre-populate in AMIS from the Applicant’s Organization Profile. If it does not, please contact the CDFI Fund as soon as possible to resolve the issue.

Auto-populated

c. Is the Applicant a Nonprofit Organization?

Auto-populated (Yes/No)

  • The Applicant’s Nonprofit Organization status should pre-populate in AMIS from the Applicant’s Organization Profile. If it does not, please contact the CDFI Fund as soon as possible to resolve the issue.

  • If the Applicant is relying on its Nonprofit Organization status for eligibility (i.e., it is not a Certified CDFI), it must attach the following documentation to its AMIS Application:

  • State charter, articles of incorporation, or other establishing document stating the Applicant is a nonprofit or not-for-profit;

  • A certificate or determination letter demonstrating tax exempt status from the IRS; and

  • Articles of incorporation, by-laws, or other organizational establishing documents demonstrating the Applicant has a principal purpose of managing or developing affordable housing

  • AMIS Note: This question will only appear in the AMIS Application if the Applicant is not a Certified CDFI.

Auto-populated

d. Are at least 33 and 1/3 % of the Applicant’s total assets dedicated to the development or management of affordable housing?

Yes/No

  • Total assets are the sum of the value of all of the organization’s assets.

  • If the Applicant is relying on its Nonprofit Organization status for Eligibility, it must indicate it meets this test.

  • AMIS Note: This question will only appear in the AMIS Application if the Applicant is not a Certified CDFI.

Picklist



Question 6 – Affiliate Organizations

Question Text

Response

Question Tips

Field Type

a. Does the Applicant have any Affiliates (as defined by the CMF Interim Rule) that are also applying for a CMF Award in the same funding round?

Yes/No

  • Per, the CMF Interim Rule (12 C.F.R. 1807.104), Affiliate is defined as “Affiliate, as defined in 12 C.F.R. 1807.104, means any entity that Controls, is Controlled by, or is under common control with, an entity.” Control is defined as “(1) Ownership, control, or power to vote 25 percent or more of the outstanding shares of any class of Voting Securities of any company, directly or indirectly or acting through one or more other persons; (2) Control in any manner over the election of a majority of the directors, trustees, or general partners (or individuals exercising similar functions) of any company; or (3) The power to exercise, directly or indirectly, a controlling influence over the management, credit or investment decisions, or policies of any company.”

  • The Applicant should not be a wholly owned subsidiary of a parent organization, unless the wholly owned subsidiary has its own track record of financing and/or developing affordable housing.

  • The Applicant entity must meet the CMF eligibility requirements on its own behalf and may not rely on an Affiliate or another organization.

Picklist

b. If Yes to (a), list all Affiliates who will be applying for CMF funding in this funding round.

Look Up

  • The Applicant will be able to select from any Affiliates listed in AMIS.

Look Up

c. Does the Applicant have any Affiliates or Subsidiaries that will have a role in executing the proposed business and leveraging strategy outlined in the application? If so, name these organizations and describe the business relationship with the Applicant and the role the organization will play in the CMF Award.


Narrative – 1,000 characters

  • Applicants will be required to submit as an Attachment an organization chart which demonstrates the business relationships between these Affiliates and/or Subsidiaries.

  • Note, regardless of whether any Affiliate organizations will be involved in the Applicant’s CMF strategy, the Applicant entity must meet all eligibility requirements on its own.

  • Only include organizations that meet the definition of Affiliate or Subsidiary as defined in 12 C.F.R. 1807.104.

Narrative



Question 7 – Total Estimated Hours to Complete the Application

Question Text

Response

Question Tips

Field Type

Estimate the number of hours required to complete the entire Application package:

____ hours

For the purpose of estimating Application completion hours, Applicants should focus only on the amount of time it took to complete and populate the questions asked in the Application materials. Other activities that are carried out in the normal course of business and are only indirectly related to the completion of this Application (e.g., identifying a project/lending pipeline, developing a strategic plan or marketing plan, etc.) should not be included in this estimate. This question will not be scored.


Numeric







Question 8 – Executive Summary

Question Text

Response

Question Tips

Field Type

Summarize the key elements of the CMF Proposal, including:


  • The Applicant’s vision for this CMF Award will accomplish, including the challenge/need the CMF Award will help address, and the anticipated outcomes that will result from the proposed CMF Award strategy.

  • How receiving the requested CMF Award will allow the Applicant to do things it would otherwise not be able to do.

  • How the Applicant’s organizational capacity and track record supports the Applicant’s ability to execute the proposed CMF Award strategy.

Narrative – 3,000 characters

This is a high-level summary of the CMF Application strategy/vision. This will not be scored in the External Review phase.


Narrative

Part 1: Business Strategy and Leveraging Strategy



Proposed Uses of a CMF Award



Question 9(a) – Eligible Activities


Please select all of the Eligible Activities that the Applicant intends to undertake with the CMF Award. As a condition of the Assistance Agreement, Applicants will be restricted to using their CMF Award for the Eligible Activities selected in Q. 9(a).

Question Text

Response

Question Tips

Field Type

i. Capitalize Loan Loss Reserves

Checkmark

Loan Loss Reserves (LLR) means proceeds from the CMF Award the Applicant will set aside in the form of cash reserve, or through accounting-based accrual reserves, to cover losses on loans, accounts, and notes receivable for Affordable Housing Activities and/or Economic Development Activities.

Checkmark

ii. Capitalize a Revolving Loan Fund

Checkmark

Revolving Loan Fund means a pool of funds managed by the Applicant wherein repayment on loans for Affordable Housing Activities or Economic Development Activities are used to provide additional loans.

Checkmark

iii. Capitalize an Affordable Housing Fund

Checkmark

Affordable Housing Fund means a loan, grant or equity investment fund that is managed by the Applicant and that uses its capital to finance Affordable Housing Activities.

Checkmark

iv. Capitalize a fund to support Economic Development Activities

Checkmark

A fund to support the development, preservation, acquisition and/or rehabilitation of Community Service Facilities and/or other physical structures in which neighborhood-based businesses operate. Must be In Conjunction With Affordable Housing Activities and part of a Concerted Strategy.

Checkmark

v. Make Risk-Sharing Loans

Checkmark

Risk-Sharing Loans mean loans for Affordable Housing Activities and/or Economic Development Activities in which the risk of borrower default is shared by the Applicant with other lenders.

Checkmark

vi. Provide Loan Guarantees

Checkmark

Loan Guarantee means the use of the CMF Award to support an agreement to indemnify the holder of a loan all or a portion of the unpaid principal balance in case of default by the borrower. The proceeds of the loan that is guaranteed with the CMF Award must be used for Affordable Housing Activities and/or Economic Development Activities. Examples include arrangements where the Applicant will assume or repay all or a portion of the debt if the borrower defaults.

Checkmark

vii. For Direct Administrative Expenses

Checkmark

The Applicant may use no more than 5% of its CMF Award for Direct Administrative Expenses. Any portion of the amount available for Direct Administrative Expenses may be used for direct costs related to the effective tracking and evaluation of program or evidence-based outcomes for CMF-assisted Projects.

Checkmark



Question 9(b) – Financing Activities


Please indicate which the following types of activities will be financed with CMF Award dollars (and any Program Income earned during the 5 year Investment Period). Applicants selected for an Award will not be held to these selections in their Assistance Agreement.

Question Text

Response

Question Tips

Field Type

i. Predevelopment Financing

Checkmark

Refers to costs related to determining the feasibility of a particular project, such as the costs of preliminary financial applications, legal fees, architectural fees, and engineering fees.

Checkmark

ii. Property/Site Acquisition Financing

Checkmark

This category refers to financing any costs associated with obtaining control of the site.

Checkmark

iii. Construction Financing

Checkmark

This category refers to financing costs associated with the construction of a Project.

Checkmark

iv. Bridge Loans or Other Similar Short-Term Financing

Checkmark

This category is for short term financing that doesn’t fit into the categories in (i) – (iv).

Checkmark

v. Permanent Financing (1st Lien)

Checkmark

This category refers to permanent financing (1st Lien).

Checkmark

vi. Permanent Financing (2nd Lien or lower)

Checkmark

This category refers to permanent financing (2nd Lien or lower).

Checkmark

vii. Refinancing

Checkmark

This category refers to refinancing.

Checkmark

viii. Loan Loss Reserves or Loan Guarantees

Checkmark

See Q. 9(a) for the definitions of these terms. Note that these should be restricted accounts.

Checkmark

ix. Equity

Checkmark

This category refers to equity investments.

Checkmark

x. Down payment/Closing Cost Assistance

Checkmark

This category refers to purchase assistance including down payment and closing cost assistance for home purchasers.

Checkmark











Question 9(c) – Proposed Uses


Please select all of the proposed uses that the Applicant intends to undertake with the CMF Award. Applicants will be restricted in the Assistance Agreement to using the CMF Award for Homeownership, Rental Housing, and/or Economic Development Activities based on the selections in Q. 9(c).

Question Text

Response

Question Tips

Field Type

i. Homeownership (Development)

Checkmark

Development includes any combination of land acquisition, demolition of existing facilities, and construction of new facilities for Homeownership units for Affordable Housing.

Checkmark

ii. Homeownership (Rehabilitation)

Checkmark

Rehabilitation includes any repairs and/or capital improvements related to Homeownership units for Affordable Housing.

Checkmark

iii. Homeownership (mortgage finance and/or Purchase assistance)

Checkmark

If the Applicant plans to use the CMF Award to provide mortgages to eligible Families to purchase Homeownership units and/or other Purchase assistance (i.e. down payment or closing cost assistance).

Checkmark

iv. Rental Housing (Development)

Checkmark

Rental development includes any combination of land acquisition, demolition of existing facilities, and construction of new facilities for rental Affordable Housing units.

Checkmark

v. Rental Housing (Preservation, and/or Rehabilitation)

Checkmark

Rental Rehabilitation includes any repairs and/or capital improvements related to rental Affordable Housing. Preservation includes acquisition, with or without rehabilitation of at-risk affordable rental housing (already subsidized and restricted), as well as recapitalization of expiring LIHTC properties. Note, in this scenario, the existing affordability and use restrictions must be extended by a minimum of 10 years. Preservation also includes using CMF to convert non-restricted rental housing, such as “naturally occurring affordable housing” to Affordable Housing (with or without rehabilitation).

Checkmark

vi. Economic Development Activities (commercial facilities)

Checkmark

No more than 30% of the CMF Award may be used for Economic Development Activities. Commercial facilities are physical structures in which neighborhood-based businesses operate.

Checkmark

vii. Economic Development Activities (Community Service Facilities)

Checkmark

No more than 30% of the CMF Award may be used for Economic Development Activities.

Checkmark











Question 10 – Community Analysis and Financing Gaps

Question Text

Response

Question Tips

Field Type

a. Describe the challenges facing the Low-Income Families and communities within the requested Service Area. The discussion should address:


  • The nature and extent of the affordable housing needs and,

  • If applicable, the economic development/community service needs.


Narrative – 4,000 characters

  • Support the narrative with relevant data where possible. For example, metrics of demand for affordable housing, whether this unmet demand is more acute among certain subsets of the population, income characteristics of Families in the requested Service Area, the extent of unemployment in the requested Service Area (if applicable), lack of access to goods/services, etc. Be sure to cite the sources of any metrics used in the narrative.

  • If the Applicant is planning on targeting more specific areas within the states in the broader Service Area (e.g., the Applicant requests a statewide Service Area but plans to target CMF activities in five key cities, or Rural Areas within a statewide Service Area), focus the discussion on these areas, their needs and the strategy to address their needs in detail.

  • If the Applicant is planning on a more broad-based approach to all the states in the requested Service Area, be sure to identify the challenges across the entire Service Area, using statewide or regional data where appropriate.

  • If the Applicant intends to use the CMF Award to finance/support Economic Development Activities, it must address community needs relevant to these activities.

Narrative

b. What financing gaps in the requested Service Area are contributing to the challenges described in 10(a)? Describe what types of financing are missing or not available at the appropriate rates and terms, and why this financing is unavailable in the marketplace.

Narrative –4,000 characters

  • Discuss the relevant financing gaps that are not adequately addressed by conventional financial institutions (i.e. banks, credit unions, mortgage lenders, etc.) as well as by CDFIs and community development organizations, if applicable.

  • If the Applicant intends to use the CMF Award to finance/support Economic Development Activities, it must address financing gaps relevant to these activities.

  • Support the description of financing gaps with relevant data and sources where possible.



Narrative

Question 11 – Proposed CMF Award Financing Activities


Question Text

Response

Question Tips

Field Type

a. Provide the requested data on the Applicant’s proposed products in Appendix 1.

Appendix 1

See Appendix 1.

Appendix 1

b. Describe how the Applicant will use the requested CMF Award as part of a financing strategy to address the challenges and financing gaps identified in Qs. 10(a) and 10(b), referencing the proposed financial products from Appendix 1 as necessary. Be sure to describe:


  • How the proposed products (including rates and terms) differ from what is currently available in the market (from banks, CDFIs, etc.).

  • How the proposed products (including rates and terms) differ from what is currently being offered by the Applicant without CMF.


Narrative – 4,000 characters


  • If the Applicant is an Affordable Housing Developer/Manager who will use the CMF Award to finance its own projects, it should clearly describe how the CMF Award dollars will be delivered to the project (e.g., grant, loan, etc.), and what phase of project financing it will support.

  • If the Applicant is proposing to provide homeownership second mortgages/down-payment assistance, it must discuss the rates and terms of the first mortgage and how the Applicant will ensure these mortgages are affordable for Low-Income homebuyers.

  • If the Applicant is proposing to finance/support Economic Development Activities, it must separately describe the financing activities for Economic Development and Affordable Housing in this narrative.

  • Discuss comparative interest rates and terms that reflect what is available in the market (including both mainstream financial institutions and CDFIs) and/or from the Applicant for similar products.

  • If the Applicant is proposing to use the CMF Award to support a Loan Loss Reserve or provide a Loan Guarantee, describe how the loans will address the challenges and financing gaps identified in this question, and separately describe the strategy and structure in 11(c).

Narrative

c. Secondary market activity: If the Applicant intends to sell CMF-financed loans on the secondary market, describe the anticipated transaction(s), including the intended purchaser(s); the scope of the sale; the nature of the loans (rental or homeownership); timing; and how all CMF requirements will remain in place for each loan for the duration of the Affordability Period.

Narrative – 2,000 characters



  • CMF-financed loans may be sold on the secondary market but must retain all affordability requirements under 12 C.F.R. 1807.400.

  • Note if the Applicant will retain any long term risk or repurchase obligations and, if so, how the risks and obligations will be managed. Describe any long term supportive role the Applicant will play related to these loans, such as servicing or counseling.

Narrative

d. Loan Loss Reserves or Loan Guarantees: If the Applicant intends to use its CMF Award for Loan Loss Reserves (LLR) or Guarantees, describe the strategy, the structure of the LLR/Loan Guarantees, and the role of a CMF Award.




Narrative – 2,500 characters



  • Quantify the anticipated loss rate that these reserves/guarantees will cover and how this rate was derived. Indicate if the LLR will be used for loans originated and held by the Applicant or if the LLR or Guarantee will be used for loans of a third party lender. Be sure to also describe the rates/terms of the loans that will be guaranteed/reserved against and how these rates/terms compare to market.

  • Describe how the 10 year affordability term and other CMF restrictions will be imposed and maintained on the properties financed with the loans secured by the Loan Loss Reserve or Guarantee.

  • AMIS Note: This question will only appear in AMIS if the Applicant intends to use a portion of their CMF Award for Loan Loss Reserves or Loan Guarantees in Q. 9(a).

Narrative



Track Record and Projections

Questions 12 and 13 focus on the Applicant’s track record and projections. These questions elaborate on the data requested in the Track Record and Projections tables which can be found in Appendix 2.


Question 12 – Track Record

Question Text

Response

Question Tips

Field Type

a. Provide data on the Applicant’s track record in Appendix 2, Tables A1, B1, and C1 (as applicable).

See Appendix 2, Tables A1, B1, and C1.

See Appendix 2, Tables A1, B1, and C1.

See Appendix 2, Tables A1, B1, and C1.

b. Describe the Applicant’s track record of Affordable Housing and Economic Development Activities (as applicable). Be sure to address:


  • How the Applicant’s track record supports its ability to carry out the proposed CMF Award activities, including any activities that are similar/relevant to the proposed CMF Award activities;

  • Any trends in the level of activity, for example if the Applicant’s activity has had significant differences in volume from year-to-year or has been relatively steady;

      • The Applicant’s experience serving its proposed Service Area.

Narrative – 5,000 characters

  • Please be sure to limit the response to activities that have occurred since January 1, 2016.

  • Be clear about which entity (the Applicant entity or its Subsidiaries) conducted the activities listed in the Appendix 2.

  • Applicants may discuss activities completed more recently than the time period covered in the tables (i.e. since January 1, 2021) in this narrative as relevant.

  • Describe experience and track record in undertaking Economic Development Activities, if applicable.

  • Do not include activities of Affiliates that are not Subsidiaries.

Narrative



Question 13 – Projected Performance and Pipeline

Question Text

Response

Question Tips

Field Type

a. Provide data on the Applicant’s projected CMF Award performance and financing activities for the next five years in Appendix 2, Tables A2, B2, and C2 (as applicable).

See Appendix 2, Tables A2, B2, and C2.

See Appendix 2, Tables A2, B2, and C2.


See Appendix 2, Tables A2, B2, and C2.

    1. Indicate the dollar amount of the CMF Award that the Applicant plans to commit to Projects in each of the first two years.

  • Year 1: $_____________

  • Year 2: $_____________

$_________

$_________

  • The figures provided in this question are estimates and will not become a condition of the award.

  • CMF Recipients are required to provide legally binding, third party, written commitments for the entire CMF Award amount to specific projects within two years from the execution of the Assistance Agreement. Recipients who fail to do so face mandatory recapture of the uncommitted funds.

  • In certain circumstances where a commitment with a third party is not possible, the Award Recipient may be eligible to meet its Commitment requirement under a general waiver of 12 C.F.R. 1807.501(b) via the FY2018 NOFA (83 FR 34685). To find out more, see the additional guidance on this waiver available at the CDFI Fund’s website.

Currency

c. Describe why the Applicant’s projections in Tables A2, B2, C2 (as applicable) are realistic and achievable. Be sure to address the following factors:


  • How the projections were developed.

  • Any risks that may impact the Applicant’s ability to achieve projections and steps to mitigate those risks, including the role of CMF, if any, in the risk mitigation.

  • To the extent the Applicant is projecting increased level of activities compared to its track record, or expansion to new geographic areas, describe why these projections are reasonable and note any new or established partnerships that will help the Applicant achieve these projections.

Narrative – 3,000 characters

  • To the extent the Applicant is proposing a significant increase in activities compared with its track record, be sure to describe why this increase is reasonable and achievable.

  • If the Applicant’s projections rely on investments in Low Income Housing Tax Credit (LIHTC) projects that have not yet received credit allocations, be sure to discuss the risk management strategy for this issue.

  • If states in the requested Service Area are new markets for the Applicant (as indicated in Q. 3), describe how it intends to build a pipeline of projects in these new markets.

  • If the Applicant has established partnerships which will facilitate creating a solid pipeline of projects, please discuss. If applicable, indicate whether such partnerships will result in a greater number of units (how many) and the extent to which such partnerships will allow the Applicant to serve geographic areas it would not otherwise be able to reach.


Narrative

d. Provide the requested data on the Applicant’s proposed pipeline in Appendix 3.

Appendix 3

See Appendix 3

e. For Rental Housing, describe how the Applicant will build/manage a pipeline of potential CMF projects. Be sure to address:

  • The factors you evaluated when selecting and prioritizing potential CMF projects/borrowers.

  • How any new or established partnerships with borrowers, developers, or others will be utilized to assist you in sourcing CMF borrowers.

  • How the Applicant will determine the need for CMF financing/support.

Narrative – 3,000 characters

  • This question will only populate in the AMIS Application if you proposed to undertake Rental Housing activities in Question 9(c).

  • An Applicant will generally score more favorably to the extent it has more than one project that it plans to use a CMF Award to finance/support and has some other financing sources Committed, awarded or funded.

  • Describe how the Applicant will manage its pipeline to enable it to achieve the projections outlined in Appendix 2 and Appendix 3.

Narrative

f. For Homeownership, describe how the Applicant will build/manage a pipeline of potential CMF projects/borrowers, addressing the following items:

  • Estimated demand for the proposed CMF product(s), supported by the appropriate data. For example, discuss the number of potential homebuyers who are pre-qualified; the number of loan applications submitted; the waiting list, etc.

  • Describe referral sources for potential borrowers/purchasers and the factors considered when selecting/prioritizing potential homebuyers.

  • For Purchase Assistance/Mortgage Lending: Describe how many loans the Applicant plans to make per year and the estimated demand for the proposed product(s).

  • For Homeownership Development/Rehabilitation: Describe the number of units in the pipeline, how purchasers will be located, the number of purchasers pre-qualified or approved, and/or other indicators of estimated demand.

Narrative – 3,000 characters

  • This question will only populate in the AMIS Application if you proposed to undertake Homeownership activities in Question 9(c).

  • If you serve a small market, describe the demand, the Applicant’s competition and the Applicant’s competitive advantage in that market.

  • If you are using CMF to launch a new product, be sure to indicate how borrowers for that product will be identified and any indicators of demand for the product.

  • Describe how a CMF Award will assist in attracting borrowers/purchasers.

  • Describe how the Applicant will manage its pipeline to enable it to achieve the projections outlined in Appendix 2 and Appendix 3.

Narrative

g. For Economic Development Activities, describe how the Applicant will build/manage a pipeline of potential CMF projects. Be sure to address:


  • The factors the Applicant will evaluate when selecting and prioritizing potential CMF projects/borrowers.

  • How any new or established partnerships with borrowers, developers, or others will be utilized to assist the Applicant in sourcing CMF borrowers

  • How the Applicant will determine the need for CMF financing/support.

Narrative – 3,000 characters

  • This question will only populate in the AMIS Application if you proposed to undertake Economic Development Activities in Question 9(c).

  • Describe how the Applicant will manage its pipeline to enable it to achieve the projections outlined in Appendix 2 and Appendix 3.

Narrative


Leveraging the CMF Award

The CMF authorizing statute requires that Recipients use the CMF Award to finance/support Projects with Eligible Project Costs totaling at least ten times the CMF Award amount. The CDFI Fund refers to this as “leveraging” the CMF Award. Questions 14-17 ask the Applicant to detail its strategy for leveraging the CMF Award. While the Application asks the Applicant to describe its leveraging approach in three different categories (i.e. Enterprise-Level, Reinvestment, and Project-Level), there is no preference for one category of leverage over another.

Question 14 – Overall Leverage Summary

In this question, please provide information on the overall plans for leveraging the CMF Award.

Question Text

Response

Question Tips

Field Type

a. The Applicant’s CMF Award Request:

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This will auto-populate based on the response to Q. 2(a).

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b. Enter the amount of the CMF Award that will be used for Direct Administrative Expenses

$_________


This amount can be no more than 5% of the award request in (a). The figure entered here is an estimates. All CMF Award Recipients will be allowed to use up to 5% of their Award for Direct Administrative expenses.

Currency

c. What are the estimated total Eligible Project Costs that will be financed/supported with the CMF Award?

$_________


Enter the estimated Eligible Project Costs (EPC) that will be financed/supported by the CMF Award. Further guidance on what counts as Eligible Project Costs is available in the Application FAQs. Note that the Eligible Project Costs for a Project will not exceed the total development cost for that Project.

Currency

d. The Applicant’s projected Leverage Multiplier:

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Projected Leverage Multiplier = Projected Eligible Project Costs ÷ CMF Award Amount Requested

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e. How much does the Applicant anticipate generating in Leveraged Costs with the CMF Award?

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  • Leveraged Costs means costs for Affordable Housing Activities and Economic Development Activities that exceed the dollar amount of the CMF Award, as further described in CFR 1807.500.

  • Leveraged Costs are calculated by subtracting the CMF Award (less any portion of the Award used for Direct Administrative Expenses) from total EPCs.

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f. How much of 14(e) above will be financed/supported by private sources?

$_________

  • 14(f) +14(g) must equal 14(e).

  • Private sources of capital are investments or loans to the Applicant, or to Projects financed and/or supported by the Applicant, received from private entities that are not a unit of federal, state, or local government. Examples include private first mortgages for homeownership; private activity bonds, LIHTC equity, other equity investments, lines of credit, loans or other investments from private sources, such as banks, private investors or philanthropic entities that are made to the Applicants or Projects.

Currency

g. How much of 14(e) above will be financed/supported by public sources?

$_________

  • 14(f) + 14(g) must equal 14(e).

  • Do not include the CMF Award in this figure.

Currency

h. The Applicant’s overall Private Leverage Multiplier:

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  • This multiplier is calculated by dividing Q. 14(f) by the CMF Award request. If selected for a CMF Award, the Applicant will be held to this multiplier in the Assistance Agreement. If the projected multiplier is greater than 10, the Applicant will be held to a multiplier of 10 in the Assistance Agreement.

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Question 15– Enterprise-Level Leverage (if applicable)


The questions below focus on the Applicant’s plans to use its CMF Award to leverage “Enterprise-Level Capital.” “Enterprise-Level Capital” is capital earned, borrowed, or raised by the Applicant or its Affiliates, which is designated for use and ultimately used to pay for Leveraged Costs but is not initially restricted for use for specific properties at the time the capital is earned, borrowed or raised. Enterprise-Level Capital can include, but is not limited to, Program-Related Investments (PRIs), loans from third parties, and the organization’s own contributed capital (equity or retained earnings).


Example: An Applicant requests a $2 million CMF Award which it intends to leverage 10 times to create a $20 million Affordable Housing Fund. The Affordable Housing Fund will be comprised of the requested $2 million in CMF Award and $18 million in leveraged funds. Of the $18 million, $16 million is from private sources ($15 million in a new bank line of credit and $1 million from an existing foundation Program Related Investments (PRI). The Affordable Housing Fund also includes $1 million in funds from the city (not restricted to a specific project) and the Applicant is contributing $1 million of its own funds. The total Enterprise-Level Capital in this example is $18 million. $17 million is private Enterprise-Level Capital.


Note: If the Applicant does not plan to leverage its CMF Award at the Enterprise-Level, it should enter $0 to Qs. 15(a) and 15(b). The Applicant only needs to respond to Qs. 15(d), 15(e), and 15(f) if Q. 15(c) is greater than $0. Questions 15(d) – 15(f) will not appear in AMIS if Qs. 15(a) – 15(c) are all $0.

Question Text

Response

Question Tips

Field Type

a. How much Enterprise-Level Capital will the Applicant raise from private sources with the CMF Award?

$________

  • Only private sources of Enterprise-Level Capital should be entered here.

  • Any capital designated by the capital provider for a specific, identified project cannot be included here.

Currency

b. How much Enterprise-Level Capital will the Applicant raise from public sources with the CMF Award?

$________

Any capital designated by the capital provider for a specific, identified project cannot be included here. Do not include the CMF Award request in this field.

Currency

c. Total amount of Enterprise-Level Capital the Applicant plans to leverage.

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  • Calculated by adding 15(a) +15(b).

  • Must be less than or equal to Q. 14(e).

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d. Describe the Applicant’s strategy to leverage the CMF Award by using it to attract Enterprise-Level Capital for the organization, especially private capital.

Narrative – 3,500 characters

  • AMIS Note: If 15(c) equals $0, 15(d), (e), (f) will not populate as these questions will not be applicable.

  • Make sure to specifically and separately discuss the strategy for attracting Enterprise-Level Capital from private sources as well as public sources, as applicable.

  • Be sure to discuss any risks of not achieving the projected private Enterprise-Level Capital as outlined in 15(a) and identify approaches to mitigate these risks.

  • Existing capital sources may be tapped as leverage for the CMF Award.

  • In this narrative, reference the information in Appendices 3 and 4 as appropriate.

  • For sources of capital not yet secured, describe the Applicant’s strategy to attract investors.

  • Be specific about how the CMF Award will enable the Applicant to attract Enterprise-Level Capital for Affordable Housing and related Economic Development Activities.

Narrative

e. Discuss the Applicant’s prior relevant experience raising and deploying private and public Enterprise funds from the sources being targeted for Enterprise-Level Capital (or similar sources).

Narrative – 3,500 characters

  • AMIS Note: If 15(c) equals $0, 15(d), (e), (f) will not populate as these questions will not be applicable.

  • Make sure to specifically and separately discuss the Applicant’s track record of raising and deploying Enterprise-Level Capital from private sources as well as public sources, as applicable.

Narrative

f. If the Applicant has identified potential sources of Enterprise-Level Capital to leverage with the CMF Award, they should be included in Appendix 4.

See Appendix 4


See Appendix 4



Question 16 – Reinvestment (if applicable)


The questions below focus on the Applicant’s plans to redeploy repaid capital during the five-year Investment Period (i.e. redeployment of CMF Award and Enterprise-Level Capital). If the Applicant does not anticipate redeploying CMF Award dollars or Enterprise-Level Capital, the amount entered in 16(a), 16(b), and 16(c) should be zero. Program Income in the form of principal and equity repayments of the CMF Award earned during the Investment Period must be reinvested by the Recipient. The required conditions for that reinvestment of Program Income will be specified in the Assistance Agreement and may vary depending on whether the Applicant intends to leverage the CMF Award through reinvestment, as indicated in their response to this question.


Note: The Applicant only needs to respond to Qs. 16(d), 16(e) and 16(f) if Qs. 16(a), 16(b), or 16(c) are greater than 0. Questions 16(d) – 16(f) will not appear in AMIS if Qs. 16(a) – 16(c) are all 0.

Question Text

Response

Question Tips

Field Type

a. How much of the repaid CMF Award (i.e. Program Income) will be reinvested into additional Projects completed during the five year Investment Period?

$_________

  • Only include reinvestment in Projects which will be completed within the five-year Investment Period.

  • Enter “0” if the Applicant is not planning to reinvest the CMF Award during the five-year Investment Period.


b. How much of the repaid Enterprise-Level Capital from private sources will be reinvested into additional Projects completed during the five year Investment Period?

$_________

  • Only include reinvestment in Projects which will be completed within the five-year Investment Period.

  • Enter “0” if the Applicant is not planning to reinvest any private Enterprise-Level Capital.


Currency

c. How much of the repaid Enterprise-Level Capital from public sources will be reinvested into additional Projects completed during the five year Investment Period?

$_________

  • Only include reinvestment in Projects which will be completed within the five-year Investment Period.

  • Enter “0” if the Applicant is not planning to reinvest public Enterprise-Level Capital.

  • Don not include repayment of CMF Award in this question as it should be included in 16(a).

Currency

d. Based on the responses to 16(a), 16(b), and 16(c), please specify how much the Applicant plans to reinvest every year during the five-year Investment Period.

Yr. 1: $_____

Yr. 2: $_____

Yr. 3: $_____

Yr. 4: $_____

Yr. 5: $_____

  • AMIS Note: Questions 16(d) – 16(f) will not appear in AMIS if 16(a) – 16(c) are all $0.

  • The sum of reinvestment in Years 1-5 (Investment Period) must equal 16(a) + 16(b) + 16(c). Only include reinvestment in Projects which will be completed within the five-year Investment Period.

Currency

e. If the response to 16(a), 16(b), or 16(c) was greater than $0, describe the Applicant’s strategy for reinvesting the CMF Award and any Enterprise-level Capital. In particular, discuss:


  • How much capital the Applicant anticipates will be repaid during the five-year Investment Period, particularly private capital, and how it developed the schedule for reinvestment in 16(c);

  • The plan for mitigating risks of repayment not occurring on the anticipated schedule;

  • The plan to identify eligible projects to reinvest the CMF Award and ensure the Projects will be completed within the five-year Investment Period.

Narrative – 3,500 characters

  • AMIS Note: Questions 16(d) – 16(f) will not appear in AMIS if 16(a) – 16(c) are all $0.

  • If the Applicant needs to reinvest the CMF Award to reach the 10:1 leverage multiplier, be sure to indicate that in this narrative.

  • Be sure to specifically discuss the strategy for reinvesting private capital into additional projects, alongside reinvestment of the CMF Award and other public capital.


Narrative

f. If the response to 16(a), 16(b), or 16(c) was greater than $0, discuss the Applicant’s track record of managing the repayment and reinvesting of capital, particularly private capital.

Narrative – 3,500 characters

  • AMIS Note: Questions 16(d) – 16(f) will not appear in AMIS if 16(a) – 16(c) are all $0.


Narrative





Question 17 – Project-Level Leverage (if applicable)


Project-Level Leverage is the difference between the total Eligible Project Costs of the Project and the amount of financing or capital provided to the Project by the Applicant. It is capital used to pay Leveraged Costs that is restricted to a specific project when it is raised. Project-Level Leverage can, among other things, include mortgages secured by the property, proceeds from the sale of bonds, equity investment raised through LIHTC, deferred developer fees, loans and grants from local and state government made directly to a specific Project. Project-Level Leverage does not include Enterprise-Level Capital or Reinvestments. Here are two examples:


  • Example 1: The Applicant is using a CMF Award to support a multi-family rental Project with total Eligible Project Costs of $2.5 million. In total, the Applicant will be providing $500,000 in financing from their own funds (Enterprise-Level) and $500,000 from its CMF Award to the project. $1 million will be funded by a private lender mortgage and the city has awarded $500,000 for that specific Project. The amount of Project-Level Leverage in this example is $1.5 million, with $1 million from private sources and $500,000 from public sources.

  • Example 2: The Applicant is using a CMF Award to seed an Affordable Housing Fund that will provide soft second mortgages to Low-Income Families. This fund provides a second mortgage of $10,000 ($5,000 of its own funds and $5,000 in CMF) to a homebuyer to help finance a home purchase of $100,000. The balance of $90,000 is funded by a private mortgage. The amount of Project-Level Leverage is $90,000.


Note: The Applicant only needs to respond to Qs. 17(d) and 17(e) if Q. 17(c) is greater than $0. Questions 17(d) – 17(e) will not appear in AMIS if Q. 17(c) is $0.

Question Text

Response

Question Tips

Field Type

a. How much capital does the Applicant anticipate leveraging at the Project-Level from private sources?

$________

Examples may be a mortgage secured by the property or equity investment raised through LIHTC.

Currency

b. How much capital does the Applicant anticipate leveraging at the Project-Level from public sources?

$________

Examples may be grants or loans from local, state, or federal government. Do not include the CMF Award amount for this question.

Currency

c. Total amount of Project-Level Leverage

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This field will be auto-calculated. It is the sum of 18(a) and 185(b).

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d. Describe the Applicant’s approach to leveraging at the Project-Level, specifically discussing private and public sources of leverage, as applicable. If the Applicant plans to fund projects that have not secured all the necessary sources of financing, be sure to discuss the strategy for managing the risk that these other sources will not be available.

Narrative – 3,500 characters

  • AMIS Note: 17(d) and 17(e) will not appear in AMIS if 17(c) is $0.

  • As part of this narrative, be sure to separately identify likely sources of private and public Project-Level Leverage (e.g., bank loan, LIHTC equity, etc.) in Appendix 3.

  • Discuss the strategy for attracting Project-Level Capital, especially from private sources.

  • Be sure to discuss any risks of not achieving the expected private Project-Level Capital outlined in 17(a) and identify approaches to mitigate these risks.

  • For sources of Project-Level capital not yet secured or not yet identified, describe the strategy to identify and generate such investment.

  • If the Applicant is relying on competitive sources of financing (e.g. LIHTC) to provide a portion of the Project-Level leverage, be sure to discuss how the Applicant plans to mitigate any risk associated with the possibility of not receiving the anticipated funds.

Narrative

e. Discuss the Applicant’s track record in the last five years of securing Project-Level Leverage from private and public sources, as applicable.

Narrative – 3,500 characters

  • AMIS Note: 17(d) and 17(e) will not appear in AMIS if 17(c) is $0.

  • Be sure to separately quantify the amount of Project-Level leverage raised in past projects/activities from private sources and public sources.

  • Discussion should be thorough, descriptive, and provide quantitative as well as qualitative information.

Narrative



Adaptability

Question 18 – Adaptability

Question Text

Response

Question Tips

Field Type

Discuss the adaptability of the Applicant’s business and leveraging strategy to changing market conditions, including loss of anticipated pipeline projects, changes to interest rates, availability and/or cost of capital.

Narrative – 2,000 characters

Where relevant, discuss the Applicant’s track record in adjusting its strategy and/or pipeline due to changing market conditions, availability or cost of capital or other external pressures.

Narrative



Part 2: Community Impact




Potential Outcomes and Impacts


Question 19 – Housing and Economic Development Impacts

Question Text

Response

Question Tips

Field Type

a. Housing Impacts: The CMF Program has identified six housing impacts that are priority impacts for the CMF Program. Select at least one impact (and no more than three) that will result from the Affordable Housing strategy proposed in this application. For each impact selected, also select the metrics that the Applicant plans to track to monitor if the impact is being achieved.


1. Improved financial stability and wealth building for Low-Income Families.


  • Individuals and Families that have become first-time homeowners

  • Tenants that are experiencing increased stability as evidenced by lower or reduced turnover.

  • Families that are building wealth as a result of the savings generated in more affordable monthly housing costs and/or increased home equity.

  • Families that are participating in Family Self-Sufficiency (FSS), Individual Development Account (IDA), or other similar programs.

  • Families that are benefiting from low energy costs as a result of energy-efficient systems and improvements.

  • Other _____________________



2. Improved health outcomes for Low-Income individuals and Families, particularly seniors, children, formerly homeless, persons with disabilities, or people with other health challenges.


  • Homes and buildings that have been rehabilitated to improve health conditions. Examples include improved ventilation; removal of lead point or lead pipes; radon mitigation; improved accessibility; improved plumbing and heating; removal of asbestos or mold; etc.

  • New homes and buildings that have been developed with healthy features. Examples include universal design features; use of low emission materials; walkability; community gardens; proximity to healthy food choice, parks and recreation.

  • Individuals and Families with increased proximity and access to health services. Examples include access to community health centers or dental clinics.

  • Individuals and Families that are benefiting from service-enriched housing. Examples include housing with services onsite or coordinated access to remote services.

  • Other _____________________


3. The opportunity for Low-Income residents to avoid dislocation and remain in their affordable homes and/or neighborhoods.


  • Number of unrestricted units or units with expiring affordability restrictions that have been preserved for 10 years or more (deed-restricted)

  • Low-Income homeowners and renters that have been able to remain in their homes.

  • Other _____________________



4. Improved access to educational opportunities or transportation for Low-Income Families.


  • Affordable housing that has been acquired or developed in transit-oriented developments or in walkable neighborhoods.

  • Affordable housing that has been acquired or developed in neighborhoods with quality local schools.

  • Other _____________________


5. Assist in the long term recovery and rebuilding of affordable housing in federally designated disaster areas through disaster-prevention or disaster-resistant design.


  • Affordable housing that has been built/rebuilt or rehabilitated areas that were federally-designated as disaster areas within the last five years.

  • Affordable housing that has been developed with disaster-prevention or disaster-resistant design.

  • Other _____________________


6. Reduction in the racial homeownership gap.


  • Minority individuals and Families that have become first time homeowners.

  • Other _____________________

Picklist/ Checkmark

  • Applicants need to select at least one impact for this question and can select up to three total.

  • Applicants won’t receive a scoring advantage for selecting more than one impact and should only discuss the one(s) that best fit their strategy.

  • For each impact selected, the Applicant should select one or more metric it intends to track related to this impact. Applicants won’t receive a scoring advantage for selecting more than one metric.

Picklist/ Checkmark

b. For each housing impact selected, select the metrics you will track associated with this impact. Also, in the accompanying narrative, describe how the proposed CMF strategy in this Application will contribute to that impact and discuss the plan for tracking the impact metric(s) identified above.

Narrative – 2,000 characters

  • Applicants will be able to provide separate a 2,000 character narrative for each impact selected. Applicants may select up to 3 impacts.

Narrative

c. If the Applicant intends to finance/support Economic Development Activities, select which of the impacts below will result from these Economic Development Activities. The Economic Development impact options are:

  1. Increased access to goods or services for Low-Income Families especially community and educational services.


  • Low-Income individuals and Families that have benefited from commercial EDA projects financed/supported with CMF. Examples include grocery stores, educational facilities or other EDA undertaken by the Applicant using CMF.

  • The number of goods and services available to Low-Income residents that has increased.

  • Low-Income residents/students that are benefiting from CMF-supported community and educational facilities.

  • Other _____________


  1. Increased economic opportunity for Low-Income Families, especially those in Areas of Economic Distress and the most vulnerable.


  • Jobs that have been created as a result of CMF-supported Economic Development Activities.

  • Other _____________

Picklist/ Checkmark

  • AMIS Note: This question will only appear in the AMIS if the Applicant indicates in Q. 9(c) that it plans to use a portion of its Award for Economic Development Activities.


  • Applicants won’t receive a scoring advantage for selecting more than one impact and should only discuss the one(s) that best fit their strategy.


Picklist/ Checkmark

d. For each economic development impact selected, select the metrics you will track associated with this impact. Also, in the accompanying narrative, describe how the proposed CMF strategy in this Application will contribute to that impact and discuss the plan for tracking the impact metric(s) identified above.

Narrative – 2,000 characters

  • Applicants will be able to provide a separate 2,000 character narrative for each impact selected.

Narrative

e. Will the Applicant commit that it will use its CMF Award to finance/support Economic Development Activities located only in Low-Income Areas or Underserved Rural Areas?

Picklist

  • AMIS Note: This question will only appear in the AMIS if the Applicant indicates in Q. 9(c) that it plans to use a portion of its Award for Economic Development Activities.

  • If the Applicant proposes to finance/support Economic Development Activities, it must select “Yes” and the EDA must be located in a Low-Income or Underserved Rural Area as a condition of its Assistance Agreement.

  • Low-Income Areas and Underserved Rural Areas are defined in 12 CFR § 1807.104 and further described in the Application FAQ.

Picklist



Geographic and Income Targeting

The CMF authorizing statue indicates that the CMF Program should target affordable housing that revitalizes Areas of Economic Distress or targets Low- and Very-Low Income Families outside of Areas of Economic Distress. In terms of income targeting, the CMF Program prioritizes Applicants targeting Low-Income Families (80% AMI or below) for Homeownership and Very Low Income Families (50% AMI or below) for Rental Housing. Given this different level of targeting and the differences between Homeownership and Rental, the Geographic and Income Targeting section has different questions for Rental and Homeownership.

Rental Housing - Geographic and Income Targeting

For rental Housing, Applicants will be asked to separately discuss their income targeting plans and the extent to which they intend to use the Award to target High Opportunity Areas and Areas of Economic Distress. For rental housing, the CMF Program is targeting the financing and production of housing at 50% AMI or below.

AMIS Note: These questions will only appear in the AMIS Application if the Applicant indicates in Q. 9(c) that it plans to undertake Rental Housing.

Question 20 – Rental Housing: Areas of Economic Distress and High Opportunity Areas

Question Text

Response

Question Tips

Field Type

a. What is the percentage of the Applicant’s total CMF-financed/supported Rental units that will be located in Areas of Economic Distress?

______%

  • Areas of Economic Distress are census tracts: (a) where at least 20% of households that are Very Low-Income (50% of Area Median Income (AMI) or below) spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20% of households have incomes below the poverty rate and the rental vacancy rate is at least 10%; or (e) where greater than 20% of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10%; or (f) are Underserved Rural Areas as defined in the CMF Interim Rule (as amended February 8, 2016; 12 CFR Part 1807).

  • The Applicant will also project the percentage of units that will be located in Areas of Economic Distress in Appendix 2 - Table B2. The percentage entered in this question should align with the number entered in Table B2.

  • The requested percentage is an estimate. Recipients will not be held to it as a condition of their award.

Percentage

b. What is the percentage of the Applicant’s total CMF-financed/supported Rental units that will be located in High Opportunity Areas?

______%

  • The CMF Program defines High Opportunity Areas pursuant to the criteria used by the Federal Housing Finance Agency (FHFA) to designate High Opportunity Areas: (1) an area designated by HUD as a “Difficult to Develop Area” whose poverty rate is lower than the rate specified by FHFA in the most recently published Duty to Serve Evaluation Guidance; or (2) an area designated by a state Qualified Allocation Plan as a high opportunity area and approved by FHFA in its most recently published Duty to Serve Evaluation Guidance. The most current data set is from 2020 and is available here: Duty to Serve Data | Federal Housing Finance Agency (fhfa.gov).

  • The requested percentage is an estimate. Recipients will not be held to it as a condition of their award.

Percentage

c. In total, what percentage of Rental units will be either located in an Area of Economic Distress or High Opportunity Areas?

______%

  • If applicable, an Applicant will generally be scored more favorably to the extent it commits to produce a greater portion of total Rental units that are located in Areas of Economic Distress or High Opportunity Areas.

  • This percentage will become a condition of the Applicant’s Assistance Agreement if selected for an Award.

Percentage

d. Describe how you will achieve the percentage listed in (c) if selected for a CMF Award. Specifically discuss:


  • Your strategy and experience financing/producing Affordable Housing in Areas of Economic Distress, as applicable, and how your proposed activities will contribute to economic stabilization/revitalization in these areas.

  • Your strategy and experience financing/producing Affordable Housing in High Opportunity Areas, as applicable, and how your proposed activities provide opportunities for Low and Very Low-Income Families in these areas.

  • Whether the CMF Award will enable the Applicant to reach geographies that would otherwise not be possible without a CMF Award.

Narrative – 3,000 characters

  • Areas of Economic Distress are defined above.

  • High Opportunity Areas are defined above.

  • Reference the data in Appendix 2, as appropriate.

  • If there is a particular category of distress the Applicant plans to target (e.g. Opportunity Zones), please state that in this narrative.

Narrative





Question 21 – Rental Housing Income Targeting

Question Text

Response

Question Tips

Field Type

a. If the Applicant is proposing to finance/produce rental housing with a CMF Award, indicate the minimum percentage of the total number of rental housing units that the Applicant will commit to financing/producing for Very Low-Income Families (50% of the area median income or below).

______%

  • Please refer to the definitions for Affordable Housing Activities and Affordable Housing laid out in section 1807.104 of the CMF Interim Rule (12 C.F.R. 1807).

  • Note that greater than 50% of the total Eligible Project Costs (CMF Award plus Leveraged Costs) must be attributable to housing units that meet the CMF affordability qualifications for Low-Income, Very Low-Income, or Extremely Low-Income Families.

Percentage


b. Describe how you will be able to achieve the percentage listed in (a) based on your Application strategy and track record of financing/producing housing for Very Low-Income Families Be sure to also discuss and quantify:

  • Whether the CMF Award will enable the Applicant to finance/produce more units of Affordable Housing that would otherwise be possible; or

  • Whether the CMF Award will enable to the Applicant to target lower income groups than would otherwise be possible without a CMF Award.

Narrative – 3,000 characters

  • Be sure to quantify how a CMF Award will allow the Applicant to increase its level of housing finance/production and/or pursue targeting units for Families with lower incomes than would otherwise be possible.

  • Reference the data in Tables A2, B2, and C2, as appropriate.

Narrative







Homeownership – Geographic and Income Targeting

AMIS Note: These questions will only appear in the AMIS Application if the Applicant indicates in Q. 9(c) that it plans to undertake Homeownership with the Award.

Question 22 – Geographic and Income Targeting for Homeownership

Question Text

Response

Question Tips

Field Type

a. What is the percentage of the Applicant’s total CMF-financed/supported Homeownership units that will be located in Areas of Economic Distress?

______%

  • Areas of Economic Distress are census tracts: (a) where at least 20% of households that are Very Low-Income (50% of Area Median Income (AMI) or below) spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20% of households have incomes below the poverty rate and the rental vacancy rate is at least 10%; or (e) where greater than 20% of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10%; or (f) are Underserved Rural Areas as defined in the CMF Interim Rule (as amended February 8, 2016; 12 CFR Part 1807).

  • The Applicant will also project the number of units that will be located in Areas of Economic Distress in Appendix 2 - Table B2. The numbers entered in Table B2 should align with the percentage entered.

  • The requested percentage is an estimate. Recipients will not be held to it as a condition of their award.

  • This percentage can include units restricted to Eligible Income Families and below (120% AMI and below).

Percentage

b. What percentage of Homeownership units will be targeted to Low-Income Families (80% AMI or below)?

______%

  • Note that greater than 50% of the total Eligible Project Costs (CMF Award plus Leveraged Costs) must be attributable to housing units that meet the CMF affordability qualifications for Low-Income, Very Low-Income, or Extremely Low-Income Families.

  • Please refer to the definitions for Affordable Housing Activities and Affordable Housing identified in Section 1807.104 of the CMF Interim Rule (12 C.F.R. 1807).

  • The requested percentage is an estimate. Recipients will not be held to it as a condition of their award.

Percentage

c. In total, what percentage of Homeownership units will be either located in an Area of Economic Distress or targeted to Low-Income Families (80% AMI and below)?

______%

  • If applicable, an Applicant will generally be scored more favorably to the extent it commits to produce a portion of total Homeownership units available that are either located in Areas of Economic Distress or targeted to Low-Income Families.

  • This percentage will become a condition of the Applicant’s Assistance Agreement if selected for an Award.

Percentage

d. Describe how you will achieve the percentage listed in (c) if selected for a CMF Award. Specifically discuss:

  • As applicable, your strategy and experience targeting homeowners in Areas of Economic Distress, and how your proposed activities will contribute to economic stabilization/revitalization in these areas.

  • Within Areas of Economic Distress, describe your strategy to avoid gentrification/displacement of existing residents and provide Homeownership opportunities to existing residents.

  • As applicable, your strategy and experience for targeting Low Income homeowners (80% AMI and below), including procedures for verifying income for all homeowners.

Narrative – 3,000 characters

  • Areas of Economic Distress are defined above.

  • Reference the data in Tables B1 and B2, as appropriate.

  • If there is a particular category of distress the Applicant plans to target (e.g. Opportunity Zones), please state that in this narrative.

Narrative

e. Discuss how the CMF Award will enhance the Applicant’s ability to target to finance/produce housing in Areas of Economic Distress and/or for Low-Income homebuyers. Be sure to discuss and quantify:

  • Whether the CMF Award will enable the Applicant to finance/produce more units of Affordable Housing that would otherwise be possible, or

  • Whether the CMF Award will enable to the Applicant to target lower income groups than would otherwise be possible without a CMF Award, or

  • Whether the CMF Award will enable the Applicant to reach distress geographies that would otherwise not be possible without a CMF Award.

Narrative – 3,000 characters

  • The Applicant only needs to address one of the “value-added” question elements to receive full points on this question.

  • Be sure to quantify the differences in level of activity (i.e. number of units, $ amount, etc.) between what can be achieved with a CMF Award and what can be achieved without.

  • Reference the data in Tables A2, B2, and C2, as appropriate.

Narrative



Community Engagement and Strategy Alignment

Question 23 – Community Partnerships

Question Text

Response

Question Tips

Filed Type

Describe partnerships with other organizations (e.g. housing developers, lenders, community organizations) that will enhance the Applicant’s strategy and impact for Low-Income Families and help the Applicant to address priorities of the CDFI Fund.


Narrative – 3,000 characters

Potential areas of partnership include, but are not limited to: a) partnerships that facilitate supportive services for residents of CMF-financed Affordable Housing; b) partnerships that will allow the Applicant to reach new markets, significantly increase its Affordable Housing production, or undertake new activities; c) partnerships that facilitate the Applicant in addressing priorities of the CDFI Fund as identified in the Notice of Funding Availability (NOFA) for each funding round.

Narrative



Question 24 – Economic Development Activities (if proposed in Q.9(c))

Question Text

Response

Question Tips

Field Type

a. If the Applicant intends to finance Economic Development Activities (EDA), describe how the Applicant will ensure that its activities are certified as being part of a Concerted Strategy to stabilize or revitalize a Low-Income Area or Underserved Rural Area In Conjunction with Affordable Housing.


Narrative – 2,000 characters

  • AMIS Note: This question will only appear in the AMIS Application if the Applicant indicates in Q. 9(c) that it plans to use a portion of its Award for Economic Development Activities.

  • Concerted Strategy means a formal planning document that evidences the connection between Affordable Housing Activities and Economic Development Activities. Such documents include comprehensive, consolidated, or redevelopment plan, or some other local, state or regional planning document adopted or approved by the jurisdiction.

  • This is a regulatory requirement if the Applicant intends to use its CMF Award to finance/support EDA. CMF Interim Rule (12 CFR § 1807.104)

  • EDA must benefit affordable housing residents within a one mile radius in Metropolitan Areas and up to 10 miles in Rural Areas.

Narrative

b. Describe how the planned EDA will serve nearby residents of affordable housing.

Narrative – 2,000 characters

  • AMIS Note: This question will only appear in the AMIS Application if the Applicant indicates in Q. 9(c) that it plans to use a portion of its Award for Economic Development Activities.

  • Per the CMF Interim Rule, the EDA facility must be must be located in the same census tract or within one mile of the affordable housing in Metropolitan Areas and in the same county, township or village or within 10 miles of the affordable housing in Nonmetropolitan Areas.

Narrative



Rural Areas

Question 25 – Rural Areas

The CDFI Fund is dedicated to achieving geographic diversity across Metropolitan and Rural Areas in the United States, and encourages Applicants to serve Rural Areas as a way to ensure that diversity. An Applicant is therefore required to provide the percentage of CMF dollars that it is willing to commit to investing in Rural Areas.


Rural Areas is defined per 12 CFR § 1282.1 (Enterprise Duty To Serve Final Rule) as (i) A census tract outside of a Metropolitan Statistical Area as designated by the Office of Management and Budget; or (ii) A census tract in a Metropolitan Statistical Area as designated by the Office of Management and Budget that is outside of the Metropolitan Statistical Area’s Urbanized Areas, as designated by the U.S. Department of Agriculture’s (USDA) Rural-Urban Commuting Area (RUCA) Code #1, and outside of tracts with a housing density of over 64 housing units per square mile for USDA’s RUCA Code #2. The CDFI Fund has published a dataset indicating which census tracts are designated as Rural Areas for the current Round on its website.


If the Applicant’s response to Q. 25(a) is greater than zero, the Applicant will be held to using a required percentage of CMF Award dollars in Rural Areas as a condition of its Assistance Agreement. The required percentage will equal the response to Q. 25(a).


Note: These questions will only appear in AMIS if the Applicant indicates that it is willing to commit to using a portion of its CMF Award in Rural Areas.

Question Text

Response

Question Tips

Field Type

a. Indicate the percentage of CMF Award dollars that the Applicant is willing to commit to deploy in Rural Areas:

______%

  • The percentage entered must be between 0 and 100.

Percentage

b. If the response to 25(a) is greater than 0%, briefly describe the Applicant’s track record of serving Rural Areas. Be sure to indicate:

  • Both in dollar amount and as a percentage of the Applicant’s overall activities, the amount of loans, investments or related activities the Applicant has undertaken in Rural Areas.

  • Experience with the type of housing that will be financed—e.g. manufactured housing; single family; multifamily; etc.

Narrative – 3,000-characters

  • This question will only appear in AMIS if Applicant commits to using a portion of its CMF Award in Rural Areas.

Narrative

c. For the Applicant’s activity over the last five years, provide the following information based on the total housing units produced located in Rural Areas:

  • Total project costs financed/supported

  • Total units produced

$____ Costs

_____ Units

  • This question will only appear in AMIS if Applicant commits to using a portion of its CMF Award in Rural Areas.

  • Currency

  • Numeric





Part 3: Organization Capacity




Question 26 – Key Personnel

Question Text

Response

Question Tips

Field Type

Complete Appendix 5 for key personnel that will be involved in managing the CMF Award. Applicants will be able to list up to 10 individuals. Select the individuals that will be most important in managing the CMF Award.

See Appendix 5

See Appendix 5.

See Appendix 5


Question 27 – Previous Awards

Question Text

Response

Question Tips

Field Type

a. Appendix 6 will list previous awards from the CDFI Fund received by the Applicant and any Affiliates.

See Appendix 6

  • See Appendix 6.

  • This information should pre-populate in AMIS. If it does not, contact the AMIS Help Desk to ensure all the Applicant’s Affiliates are linked.

See Appendix 6

b. If the Applicant has received other Federal awards (not from the CDFI Fund), discuss the following:


  • Briefly describe the Applicant’s experience managing Federal Awards in the last three years, including the number, dollar amount and types of awards managed.

  • Indicate if the Applicant or its Affiliates have been deemed noncompliant with a Federal award (other than a CDFI Fund Award), experienced any significant compliance issues or received a finding as the result of an Office of Inspector General (OIG) audit in the past three years.

  • If the Applicant did not receive any Federal awards in the past three years, discuss any other experience that the Applicant has in administering awards from other entities (e.g., state or local governments, foundations, etc.), particularly large monetary awards with substantial compliance requirements and describe how this experience will enable the Applicant to successfully administer a CMF Award.

Narrative – 4,000 characters







Narrative

c. Is the Applicant or any Affiliates currently the subject of an unresolved audit or investigation by the Office of the Inspector General (OIG) or equivalent related to previous federal awards?

Yes/No


Picklist

d. If the Applicant or its Affiliates have received a CMF Award in one or more of the past five rounds, discuss your progress in deploying your past CMF Awards. Indicate how much of each CMF Award has been Committed and disbursed to Projects/borrowers as of the Application submission date. Also, indicate if any Projects under these Awards have achieved Project Completion.

Narrative-3,000 characters

  • Enter “N/A” if your organization and Affiliates did not receive a CMF Award in the past five years.

  • Performance related to past Awards will be reviewed and considered as part of the Application review. Applicants should ensure that information on Commitment of past CMF Awards is up to date in AMIS throughout the Application review period.

  • Note any factors that may prevent meeting performance requirements for previous CMF Awards.

  • Identify any challenges in deployment of the past award(s).

Narrative





Question 28 – Financial Health

Question Text

Response

Question Tips

Field Type

a. Enter the Applicant’s relevant financial data in Appendix 7. Note which fields are relevant for the Applicant entity type.

See Appendix 7

For reference, see Appendix 7.

See Appendix 7

b. Have any of the Applicant’s completed audits within the past three years indicated negative Net Income?

Yes/No

Net Income, also known as Earnings, is Revenue less Expenses.

Picklist

c. Have any of the Applicant’s completed audits within the past three years included an opinion other than unqualified/unmodified?

Yes/No

An unqualified/unmodified opinion is an independent auditor's judgment that a company's financial records and statements are fairly and appropriately presented, and in accordance with Generally Accepted Accounting Principles (GAAP). An unqualified/unmodified opinion is the most common type of auditor's report.

Picklist

d. Have any of the Applicant’s completed audits within the past three years included a “going-concern paragraph” or qualification?

Yes/No

The going concern principle is that it is assumed a business will continue in the future, unless there is evidence to the contrary. When an auditor conducts an examination of the accounting records of a company, he or she has an obligation to review its ability to continue as a going concern; if the assessment is that there is a substantial doubt regarding the company's ability to continue in the future (which is defined as the following year), a going concern qualification must be included in his or her opinion of the company's financial statements.

Picklist

e. Have any of the Applicant’s audits for the three most recently completed fiscal years (as of the date of the NOFA), including any Single Audits for those years, contained repeated findings of reportable conditions?

Yes/No

Reportable condition is a matter coming to the auditor's attention relating to significant deficiencies in the design or operation of the internal control that could adversely affect an entity's ability to fulfill future obligations and/or the satisfaction of liabilities.

Picklist

f. Have any of the Applicant’s completed audits within the three most recently completed fiscal years (as of the date of the NOFA), including its Single Audit, indicated material weaknesses in internal controls?

Yes/No

Material weakness in internal controls means that it could lead to a material misstatement in a company's financial statements.

Picklist

g. Is the Applicant currently delinquent with respect to any obligations owed by the Applicant to an investor or lender?

Yes/No

Please indicate if you are delinquent with respect to any obligations as of the date of the Application submission.

Picklist

h. Has the Applicant ever filed for bankruptcy or otherwise defaulted on financial obligations to a third party?

Yes/No

Please indicated whether the Applicant have filed for bankruptcy or defaulted on financial obligations.

Picklist

If “Yes” to any of the above, indicate the fiscal years of the occurrence, and describe the circumstances and corrective action taken.

Narrative – 2,000 characters

Be as thorough as possible in describing the circumstances around the occurrence; any corrective steps taken to address the issue; and the current status of the issue.

Narrative

i. Provide a narrative responding to the following questions on the Applicant’s financial health:


  • Discuss financial health over the past three years prior to the date of the NOFA, noting key trends and circumstances and how they shape organizational performance and business strategy.

  • Be sure to discuss any recent material changes to the Applicant’s financial health that are not reflected in the audited financial statement for the most recently completed fiscal year.

  • Acknowledge any other areas of material weakness and/or deficiencies in the Applicant’s financial health, viability, and capacity as well as financial statement and Single Audit findings (as applicable). Discuss how the Applicant is trying to improve in those areas.

Narrative – 4,000 characters

The CDFI Fund reserves the right to contact other governmental organizations to review the Applicant’s award status and reserves the right to obtain additional audited or interim financial statements from an Applicant to review its financial condition, prior to making a final award determination. Failure on the part of the Applicant to acknowledge issues related to the financial health of the organization in this question or elsewhere in the Application could result in the Application being deemed ineligible, dismissed from a subsequent stage of review, or in termination of an Award.

Narrative





Question 29 – Portfolio Health

Question Text

Response

Question Tips

Field Type

Discuss the Applicant’s portfolio performance. Describe key trends or changes in the portfolio for the three most recently completed fiscal years and the current fiscal year-to-date.


For Applicants that are Financing Entities:


Discuss the Applicant’s loan/equity portfolio. Refer to relevant loan/equity portfolio data entered in Table E. Explain any weaknesses, especially those related to delinquencies or net loan losses and discuss how the Applicant is trying to improve those areas. Compare the Applicant’s performance with industry benchmarks where appropriate.


For Applicants that are Affordable Housing Developers/Managers:


Discuss the Applicant’s property portfolio, as applicable. Refer to the relevant portfolio data entered in Table F as necessary. Explain any weaknesses, especially around low Net Operating Income (NOI), high vacancy rates, etc. Compare the Applicant’s performance with industry benchmarks where appropriate.

Narrative – 3,000 characters

  • Financing Entity-Applicants should complete this question as it relates to the Applicant’s loan/equity portfolio. Complete Table E.


  • Affordable Housing Developer/Manager of Rental Housing- Applicants should complete this question as it relates to the Applicant’s property portfolio. Complete Table F.


  • If an Affordable Housing Developer/Manager Applicant does not maintain a property portfolio that should be described in the narrative.


Narrative


Appendix 1: Financing Products


Instructions for Completing Appendix 1

In this table, the Applicant will provide the following data for each product the Applicant plans to offer with its CMF Award. Comparative interest rates and terms should reflect what is available in the market for similar products. In the case of Developer/Managers, it is sufficient to indicate the activity type of financing that will be provided to projects using the CMF Award. Tie the products to needs and financing gaps described in this Application. Focus on the role of CMF Award when describing the financing products.

Appendix 1: Financing Activities/Products

AMIS Field Name

Question Tips

Field Type

Description

Describe the financing activity/financial product that will be supported by the CMF Award and discuss relevant terms not otherwise described in this table.

Narrative -

500 Characters

Activity Type(s)

Select all activities that will be financed by this product:

  • Predevelopment

  • Acquisition

  • Construction

  • Bridge/short term financing

  • Permanent (1st Lien)

  • Permanent (2nd Lien or lower) – includes soft debt

  • Refinancing

  • Loan Loss Reserve/Loan Guarantee

  • Secondary market activity

  • Equity

  • Down payment/Closing Cost Assistance

Checkmarks

Tenure Type

Select the appropriate tenure type that will be supported by the financing product.

  • Rental

  • Homeownership

  • Economic development

Checkmarks

Maximum Loan Amount

Enter the maximum loan amount that will be supported by the financing product.

Currency

Estimated Minimum Interest Rate

Enter the estimated minimum interest rate.

Percentage

Estimated Maximum Interest Rate

Enter the estimated maximum interest rate.

Percentage

Estimated Average Interest Rate

Enter the estimated average interest rate.

Percentage

Comparative Average Interest Rate

Identify the comparable average interest rate offered by others in the Service Area.

Percentage

Amortization Period

Enter the Amortization Period in months

Number

Term

Enter the term of the loan or investment in months.

Number

Fees

Describe any fees that will be charged with this product (e.g. origination fees, etc.)

Text

Security Position (1st, 2nd, etc.)

Select the security position (1st, 2nd, 3rd or Lower)

Picklist



Appendix 2: Track Record and Projections

Instructions for Completing Track Record Tables (Tables A1, B1, and C1)

Instructions for Tables A1, B1, and C1: Please provide the requested information on the Applicant’s track record of deployment and production in Tables A1, B1, and C1, as applicable. Tables A1, B1, and C1 (as applicable) should be completed based solely on activities undertaken by the Applicant, any Subsidiaries, and any Limited Partnerships or Limited Liability Corporations where the Applicant holds the controlling interest over the management, credit or investment decisions, or policies of the company. Do not include the activities of Affiliates that are not Subsidiaries of the Applicant in these tables (e.g. “parent” organizations or other organizations under a common “parent” that are not controlled by the Applicant). If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it must provide track record information only for its Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award.

Instructions for Completing Projections Tables (Tables A2, B2, and C2)

Instructions for Tables A2, B2, and C2: Please provide the information requested about the Applicant’s projected deployment and production related to its CMF Award request in Tables A2, B2, and C2, as applicable. Tables A2, B2, and C2 (as applicable) should only contain data for activities undertaken as a result of the Applicant’s requested CMF Award. Do not include data on activities unrelated to the Applicant’s requested CMF Award. The projections in Tables A2 and B2 will be used to determine a minimum number of units to be produced with the CMF Award. This unit target will become a condition of the Assistance Agreement. If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it should include data on projected capital to be deployed by the Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award.


Table A1: Track Record by Housing/Economic Development Activity Type


Data entered in Table A1 should be based on the date the Project was completed (e.g. for Homeownership, title transferred to homeowner; for rental, certificate of occupancy). Under the fields for Cost ($), the Applicant should enter the total project cost (inclusive of the Applicant’s financing and financing from other entities) as of the date the Project was completed. Under the fields for units, for Homeownership and rental housing, list the total number of units produced in each category. For Economic Development Activities, enter the total number of facilities produced in each category (i.e. one building is one unit for Economic Development Activities).

Table A1 – Track Record by Activity Type

AMIS Field Name

Question Tips

Field Type

5 Year Total (2016-2020)

New Development Cost (Rental)

Enter the costs for rental housing new Development for the last five years.

Currency

$________

New Development Units (Rental)

Enter the units for rental housing new Development for the last five years.

Numeric

________

Rehabilitation and/or Preservation Cost (Rental)

Enter the costs for rental housing Rehabilitation and/or Preservation for the last five years.

Currency

$________

Rehabilitation and/or Preservation Units (Rental)

Enter the units for rental housing Rehabilitation and/or Preservation for the last five years.

Numeric

________

Total Rental Housing Costs

Totals for rental housing costs will be auto-calculated in this row.

Auto-Calculated

$________

Total Rental Housing Units

Totals for rental housing units will be auto-calculated in this row.

Auto-Calculated

________

New Development Cost (HO)

Enter the costs for new Development Homeownership for the past five years.

Currency


$________

New Development Units (HO)

Enter the units for new Development Homeownership for the past five years.

Numeric

________

Rehabilitation Cost (HO)

Enter the costs for Rehabilitation Homeownership for the past five years.

Currency


$________

Rehabilitation Units (HO)

Enter the units for Rehabilitation Homeownership for the past five years.

Numeric

_________

Mortgage Finance, Refinance and/or Purchase Assistance Cost

Enter the costs for homeowner mortgage finance and/or Purchase assistance for the past five years.

Currency

$________

Mortgage Finance, Refinance and/or Purchase Assistance Units

Enter the units for homeowner mortgage finance and/or Purchase assistance for the past five years.

Numeric

________

Total Homeownership Costs

Totals for Homeownership costs will be auto-calculated in this row.

Auto-Calculated

$________

Total Homeownership Units

Totals for Homeownership units will be auto-calculated in this row.

Auto-Calculated

________

Community Service Facilities Costs

Enter the costs for Community Service Facilities for the past five years.

Currency

$________

Community Service Facilities Units

Enter the number of Community Service Facilities for the past five years.

Numeric

________

Commercial Econ. Dev. Activities Costs

Enter the costs for commercial Economic Development Activities for the past five years.

Currency

$________

Commercial Econ. Dev. Activities Units

Enter the number of commercial Economic Development Activity facilities for the past five years.

Numeric

________

Total Economic Development Costs

Total Economic Development Activity costs will be auto-calculated in this row.

Auto-Calculated

$________

Total Economic Development Units

Total Economic Development Activity units will be auto-calculated in this row.

Auto-Calculated

________

Total Cost

Total costs will be auto-calculated in this row.

Auto-Calculated

$________

Total Units

Total units will be auto-calculated in this row.

Auto-Calculated

________





Table A2: Projected Housing/Economic Development Activity Type


Data entered in Table A2 should be based on the date the Project will achieve Project Completion. In this table, only provide data for activities undertaken as a result of the Applicant’s requested CMF Award. Do not include data on activities unrelated to the Applicant’s requested CMF Award.


In the fields for cost ($), the Applicant must enter the projected total Eligible Project Costs (inclusive of financing by the Applicant and any other entity) as of the date the Project is projected to achieve Project Completion. Projected Total Costs in this table must equal the Eligible Project Costs entered in Q. 14c.


In the fields for units, for Affordable Housing Activities, list only the number of units that qualify as Affordable Housing under the CMF Program (i.e. units that comply with the affordability qualifications for Eligible-Income Families (120% of AMI or below). For Economic Development Activities, enter the projected number of facilities to be financed.


Table A2 – Projected Activity Type

AMIS Field Name

Question Tips

Field Type

5 Year Total

(2022-2026)

New Development Cost (Rental)

Enter the costs for rental housing new Development for the next five years.

Currency

$_______

New Development Units (Rental)

Enter the units for rental housing new Development for the next five years.

Numeric

________

Rehabilitation and/or Preservation Cost (Rental)

Enter the costs for rental housing Rehabilitation and/or Preservation for the next five years.

Currency

$_______

Rehabilitation and/or Preservation Units (Rental)

Enter the units for rental housing Rehabilitation and/or Preservation for the next five years.

Numeric

________

Total Rental Housing Costs

Totals for rental housing costs will be auto-calculated in this row.

Auto-Calculated

$_______

Total Rental Housing Units

Totals for rental housing units will be auto-calculated in this row.

Auto-Calculated

________

New Development Cost (HO)

Enter the costs for new Development Homeownership for the next five years.

Currency

$_______

New Development Units (HO)

Enter the units for new Development Homeownership for the next five years.

Numeric

________

Rehabilitation Cost (HO)

Enter the costs for Rehabilitation Homeownership for the next five years

Currency

$_______

Rehabilitation Units (HO)

Enter the units for Rehabilitation Homeownership for the next five years.

Numeric

________

Homebuyer Mortgage Finance and/or Purchase Assistance Cost

Enter the costs for homeowner mortgage finance and/or Purchase Assistance for the next five years.

Currency

$_______

Homebuyer Mortgage Finance and/or Purchase Assistance Units

Enter the units for homeowner mortgage finance and/or Purchase Assistance for the next five years.

Numeric

________

Community Service Facilities Costs

Enter the projected costs for Community Service Facilities for the next five years.

Currency

$_______

Community Service Facilities Units

Enter the number of projected Community Service Facilities for the next five years.

Numeric

_________

Commercial Econ. Dev. Activities Costs

Enter the projected costs for commercial Economic Development Activity costs for the next five years.

Currency

$_______

Commercial Econ. Dev. Activities Units

Enter the projected number of commercial Economic Development Activity facilities for the next five years.

Numeric

________

Total Economic Development Costs

Total Economic Development Activity costs will be auto-calculated in this row.

Auto-Calculated

$_______

Total Economic Development Units

Total Economic Development Activity units will be auto-calculated in this row.

Auto-Calculated

_______

Total Cost

Total projected costs will be auto-calculated in this row.

Auto-Calculated

$_______

Total Units

Total projected units will be auto-calculated in this row.

Auto-Calculated

_______



Table B1: Track Record of Housing Units Production by Income Levels


Data entered in Table B1 should include projects completed in the last five years, based on Project Completion date. Applicants should enter the number of units for each income category. AMI stands for Area Median Income.

Areas of Economic Distress are census tracts: (a) where at least 20% of households that are Very Low-Income (50% of AMI or below) spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20% of households have incomes below the poverty rate and the rental vacancy rate is at least 10% ; or (e) where greater than 20% of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10%; or (f) Are Underserved Rural Areas as defined in the CMF Interim Rule (as amended February 8, 2016; 12 CFR Part 1807). A spreadsheet of Areas of Economic Distress is available at: https://www.cdfifund.gov/programs-training/Programs/cmf/Pages/apply-step.aspx#step2.

Table B1 – Track Record Housing Unit Production by Income Levels

Response

AMIS Field Name

Question Tips

Field Type

5 Year Total (2016-2020)

Rental Housing

0-30% AMI Units

Enter the number of units for 0-30% AMI.

Numeric

_______

31-50% AMI Units

Enter the number of 31-50% AMI units.

Numeric

_______

51-80% AMI Units

Enter the number of 51-80% AMI units.

Numeric

_______

81-120% AMI Units

Enter the number of 81-120% AMI units.

Numeric

_______

Total Rental Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

Homeownership Housing

0-30% AMI Units

Enter the number of units for 0-30% AMI.

Numeric

_______

31-50% AMI Units

Enter the number of 31-50% AMI units.

Numeric

_______

51-80% AMI Units

Enter the number of 51-80% AMI units.

Numeric

_______

81-120% AMI Units

Enter the number of 81-120% AMI units.

Numeric

_______

Total Homeownership Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

All Housing

Total - All Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

Areas of Economic Distress

Housing Activity in Areas of Economic Distress Units

Enter the number of units in Areas of Economic Distress. This figure should be a subset of Total Rental Housing Units and Total Homeownership Units entered in Table A1.

Numeric


_______

High Opportunity Areas (Rental Only)

Rental Housing Activity in High Opportunity Areas Units

Enter the number of units in high opportunity areas. This figure should be a subset of Total Rental Housing Units entered in Table A1.

Numeric


_______


Table B2: Projected Housing Units Production by Income Levels


Data entered in Table B2 should be based on the date the Project will achieve Project Completion. In this table, only provide data for activities that will be financed and/or supported by the Applicant’s requested CMF Award that will achieve Project Completion by the end of the five-year Investment Period. Do not include data on activities unrelated to the Applicant’s requested CMF Award.

Areas of Economic Distress are census tracts: (a) where at least 20% of households that are Very Low-Income (50% of AMI or below) spend more than half of their income on housing; or (b) that are designated Qualified Opportunity Zones ; or (c) that are Low-Income Housing Tax Credit Qualified Census Tracts; or (d) where greater than 20% of households have incomes below the poverty rate and the rental vacancy rate is at least 10%; or (e) where greater than 20% of the households have incomes below the poverty rate and the homeownership vacancy rate is at least 10%; or (f) Are Underserved Rural Areas as defined in the CMF Interim Rule (as amended February 8, 2016; 12 CFR Part 1807). A spreadsheet of Areas of Economic Distress is available at: https://www.cdfifund.gov/programs-training/Programs/cmf/Pages/apply-step.aspx#step2.

Please note that the number of units projected in Areas of Economic Distress in this table should align with the percentages entered in Q. 20(a) and/or Q. 22(b).


NOTE: As defined in 1807.104 of the CMF Interim Rule (12 C.F.R. 1807), Affordable Housing Activities means the Development, Preservation, Rehabilitation, and/or Purchase of Affordable Housing, meaning that they comply with the affordability qualifications set forth for Eligible-Income Families. Also, per 12 C.F.R 1807.400, each Recipient that uses its CMF Award for Affordable Housing Activities must ensure that 100% of Eligible Project Costs are attributable to Affordable Housing; meaning, that they comply with the affordability qualifications for Eligible-Income Families (120% of AMI or below).


Table B2 – Projected Housing Units Production by Income Levels

Response

AMIS Field Name

Question Tips

Field Type

5 Year Total (2022-2026)

Rental Housing

0-30% AMI Units

Enter the number of units for 0-30% AMI.

Numeric

_______

31-50% AMI Units

Enter the number of 31-50% AMI units.

Numeric

_______

51-80% AMI Units

Enter the number of 51-80% AMI units.

Numeric

_______

81-120% AMI Units

Enter the number of 81-120% AMI units.

Numeric

_______

Total Rental Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

Homeownership Housing

0-30% AMI Units

Enter the number of units for 0-30% AMI.

Numeric

_______

31-50% AMI Units

Enter the number of 31-50% AMI units.

Numeric

_______

51-80% AMI Units

Enter the number of 51-80% AMI units.

Numeric

_______

81-120% AMI Units

Enter the number of 81-120% AMI units.

Numeric

_______

Total Homeownership Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

All Housing

Total - All Housing Units

This field will be auto-calculated.

Auto-Calculated

Auto-Calculated

Areas of Economic Distress

Housing Activity in Areas of Economic Distress: Units

Enter the number of units in Areas of Economic Distress. This figure should be a subset of Total Rental Housing Units and Total Homeownership Units entered in Table A2.

Numeric


_______

High Opportunity Areas (Rental Only)

Housing Activity in High Opportunity Areas: Units

Enter the number of units in High Opportunity Areas. This figure should be a subset of Total Rental Housing Units entered in Table A2.

Numeric


_______



Table C1: Track Record of Financing Activities/Products (to be completed by Financing Entities only)

Table C1 is only applicable for Financing Entities and will not appear in AMIS for Housing Developers/Managers. The table focuses only on the Applicant’s track record of providing financing to projects and should reflect dollar amounts that the Applicant has loaned or invested directly to third party entities. The dollar amounts should reflect only the loans or equity investments made by the Applicant. Financing from third parties to projects (e.g. LIHTC, project-specific grants or bank construction loans) should not be included in this table.


Data entered in Table C1 should be based on the date the financing transaction closed.


Table C1 – Track Record by Financing Activities/Products

AMIS Field Name

Question Tips

Field Type

5 Year Total (2016-2020)

Predevelopment

Enter dollar amount loaned or invested for predevelopment for the past five years.

Currency

$_______

Acquisition

Enter dollar amount loaned or invested for acquisition for the past five years.

Currency

$_______

Construction

Enter dollar amount loaned or invested for construction for the past five years.

Currency

$_______

Bridge Loans or Similar Short Term

Enter dollar amount loaned or invested for bridge loans or similar for the past five years.

Currency

$_______

Permanent Financing (1st)

Enter dollar amount loaned or invested for permanent financing (1st lien) for the past five years.

Currency

$_______

Permanent Financing (2nd or Lower)

Enter dollar amount loaned or invested for permanent financing (2nd lien or lower) for the past five years.

Currency

$_______

Refinancing

Enter dollar amount loaned or invested for refinancing for the past five years.

Currency

$_______

Loan Loss Reserves or Loan Guarantees

Enter dollar amount allocated for loan guarantees and/or loan loss reserves for the past five years.

Currency

$_______

Equity

Enter dollar amount invested or invested as equity for the past five years.

Currency

$_______

Down payment/Closing Cost Assistance

Enter total dollar amount loaned, invested, or granted as down payment/closing costs assistance. Do not enter double enter data between this category and the Permanent Financing (2nd or Lower) category.

Currency

$_______

Total Financing Deployment

Will sum automatically in AMIS.

Auto-Calculated

$_______









Table C2: Projected CMF Financing Activities/Products (to be completed by Financing Entities only)


Table C2 is only applicable for Financing Entities and will not appear in AMIS for Housing Developers/Managers. Table C2 focuses only on the projected financing that the Applicant will provide to Projects as a result of the CMF Award. The dollar amounts should reflect only the loans or equity investments projected to be made by the Applicant. Financing from third parties to Projects (e.g. LIHTC, project-specific grants or bank construction loans) should not be included in this table.


Data entered in Table C2 should be based on the date the financing transaction will close.


Table C2 – Projected CMF Financing Activities/Products

AMIS Field Name

Question Tips

Field Type

5 Year Total (2022-2026)

Predevelopment

Enter projected dollar amount of financing for predevelopment for the next five years.

Currency

$_______

Acquisition

Enter projected dollar amount of financing for acquisition for the next years.

Currency

$_______

Construction

Enter projected dollar amount of financing for construction for the next five years.

Currency

$_______

Bridge Loans or Similar

Enter projected dollar amount of financing for bridge loans or similar for the next five years.

Currency

$_______

Permanent Financing (1st)

Enter projected dollar amount of financing for permanent financing (1st lien) for the next five years.

Currency

$_______

Permanent Financing (2nd or Lower)

Enter projected dollar amount of financing for permanent financing (2nd lien or lower) for the next five years.

Currency

$_______

Refinancing

Enter projected dollar amount of refinancing activity for the next five years.

Currency

$_______

Loan Loss Reserves or Loan Guarantees

Enter projected dollar amount to be allocated for Loan Guarantees and/or Loan Loss Reserves for the next five years.

Currency

$_______

Equity

Enter projected dollar amount of financing for equity investments for the next five years.

Currency

$_______

Down payment/Closing Cost Assistance

Enter total dollar amount loaned, invested, or granted as down payment/closing costs assistance. Do not enter double enter data between this category and the Permanent Financing (2nd or Lower) category.

Currency

$_______

Total Deployment

AMIS will sum the fields automatically.

Auto-Calculated

$_______

Appendix 3: Project Pipeline and Sources


In Appendix 3a, provide the requested information for the proposed pipeline of projects. Include at least two and up to eight projects. If you plan to use the Award to capitalize a Homeownership Program for Purchase (e.g. mortgage finance/down payment and/or closing cost assistance), complete the Homeownership Program information. For pipelines which exceed eight projects or where not all projects have yet been identified, provide estimated aggregate cost information on those projects in the “Total for Additional Projects” category. For each identified project, provide the requested information.

While the Applicant will not be held to financing the specific projects listed in the pipeline if selected to receive a CMF Award, please only describe projects in the Applicant’s pipeline for which the Applicant realistically anticipates using the CMF Award.

  • If your organization is planning to provide mortgage assistance/Purchase assistance to homebuyers, you may list the Homeownership program as one “project” in Appendix 3a.

  • If your organization is planning to use the CMF Award to finance/support Economic Development Activities, please ensure to include at least one project of this type in the pipeline.

In Appendix 3b, all anticipated sources of capital needed to finance Eligible Project Costs should be listed appropriately based on the status (i.e. “Sources Secured/Received” or “Anticipated/Projected”). Financing sources should be classified as either “Early Stage” or “Permanent”. Financing that is taken out/repaid by permanent financing should be listed as “Early Stage”. If financing is early stage but converts to permanent, it should be listed as “Permanent”. If the sources are unknown, indicate the estimated amount as “Other Private” or “Other Public”. Early Stage financing will be netted from permanent financing when calculating Eligible Project Costs. Eligible Project Costs should not exceed Total Development Costs. The Total Net Sources/Eligible Project Costs listed at the bottom of Appendix 3b should align with the Total Eligible Project Costs for the pipeline in Appendix 3a.



Appendix 3a: Project Pipeline

Pipeline/Uses

Project Name and Description

Location (City, State)

Project Type (HO/Rental/EDA)

Start Year

Year Complete

Total Units

Total CMF Units (120% AMI or below)

Total Project Costs

Eligible Project Costs

Homeownership Program

 

 


 

 

 


$

 $

Project 1

 

 


 

 

 


$

 $

Project 2

 

 


 

 

 


$

 $

Project 3

 

 


 

 

 


$

 $

Project 4

 

 


 

 

 


$

 $

Project 5

 

 


 

 

 


$

 $

Project 6

 

 


 

 

 


$

 $

Project 7

 

 


 

 

 


$

 $

Project 8

 

 


 

 

 


$

 $

Total for additional projects, including projects not yet identified

 

 


 

 

 


$

 $

TOTALS

 

 


 

 

Auto-Calc

Auto-Calc

Auto-Calc

Auto-Calc



Appendix 3b: Sources

 

Early Stage Financing

Permanent Financing

Total

CMF Award

$_______

$_______

Auto-Calculated

Short Term CMF Financing Repaid/Taken Out by or before Permanent Financing

 

 

Auto-Calculated

Subtotal of Net CMF Financing

 

 

Auto-Calculated

Sources Secured or Received

 

 

 

Private Financial Institution Debt/Equity (Legal Commitment or Received)

$_______

$_______

Auto-Calculated

Private Philanthropic/Foundation (Legal Commitment or Received)

$_______

$_______

Auto-Calculated

Debt or Equity from the Applicant/Affiliates (Legal Commitment or Approval)

$_______

$_______

Auto-Calculated

LIHTC (Awarded)

$_______

$_______

Auto-Calculated

Tax Exempt Bonds (Issued)

$_______

$_______

Auto-Calculated

FHLB (Legal Commitment, Awarded or Received)

$_______

$_______

Auto-Calculated

State Tax Credits (Awarded)

$_______

$_______

Auto-Calculated

Other Private (Legal Commitment or Received)

$_______

$_______

Auto-Calculated

Public Funds (excluding CMF Award and Awarded or Received

$_______

$_______

Auto-Calculated

Subtotal of Total Secured Leverage

Auto-Calculated

Auto-Calculated

Auto-Calculated

Secured Short Term Financing Repaid/Taken Out by or before Permanent Financing

 

 

$_______

Subtotal of Net Secured Leverage

 

 

Auto-Calculated

Sources Anticipated/Projected

 

 

 

Private Financial Institution Debt/Equity

$_______

$_______

Auto-Calculated

Private Philanthropic/Foundation

$_______

$_______

Auto-Calculated

Debt or Equity from the Applicant/Affiliates

$_______

$_______

Auto-Calculated

LIHTC

$_______

$_______

Auto-Calculated

Tax Exempt Bonds

$_______

$_______

Auto-Calculated

FHLB

$_______

$_______

Auto-Calculated

State Tax Credits

$_______

$_______

Auto-Calculated

Other Private

$_______

$_______

Auto-Calculated

Public Funds (other than CMF Award)

$_______

$_______

Auto-Calculated

Reinvested CMF Award

$_______

$_______

Auto-Calculated

Reinvested Enterprise Capital

$_______

$_______

Auto-Calculated

Subtotal of Total Anticipated/Projected Leverage

Auto-Calculated

Auto-Calculated

Auto-Calculated

Short Term Projected Financing Repaid/Taken Out by or before Permanent Financing

 

 

$_______

Subtotal of Net Anticipated/Projected Leverage

 

 

Auto-Calculated

TOTAL SOURCES

 

 

Auto-Calculated

TOTAL NET SOURCES/ELIGIBLE PROJECT COSTS

 

 

Auto-Calculated





Appendix 4: Enterprise-Level Sources of Leverage

The Applicant will only be able to enter data in Appendix 4 if Q. 15 indicated that the CMF Award will be used to leverage Enterprise-Level Capital. If the Applicant plan to leverage Enterprise-Level Capital, it must provide at least one potential source of Enterprise-Level Capital in this Appendix. You may add as many sources as necessary.

Enterprise-Level Sources of Leverage

AMIS Field Name

Response

Question Tips

Field Type

Name of Investor

__________

Enter the name of the investor.

Text

Dollar Amount Sought

$_________

Enter the dollar amount sought from the investor.

Currency

Previous Investor

Yes/No

Select whether it’s a previous investor.

Picklist

Related to Applicant

Yes/No

Select whether the investor is related to the Applicant.

Picklist

Type of Financing

Debt/Equity/Grant

Choose the financing type from the dropdown.

Picklist

Status of Request

Funds Received / Legal Commitment / Term Sheet / Letter of Interest / Application Pending / Estimate

Select the appropriate status of the identified financing. The CDFI Fund reserves the right to request documentation substantiating this status during the Application review process.

Picklist

Est. Date of Receipt of Funds

Date

Please provide the estimated date of receipt of funds.

Date











Appendix 5: Key Personnel


Applicants may enter up to 10 individuals related to the Applicant’s affordable housing activities (from the management team, staff, consultants, or contractors) who are integral to the implementation of the Applicant’s CMF proposal. Do not include members of the Board of Directors. The CDFI Fund will only evaluate the 10 individuals entered in the Key Personnel Appendix.


For Certified CDFI Depository Institution Holding Companies Only: If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, be sure to include information on key personnel of the Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award.


Key Personnel

AMIS Field Name

Response

Question Tips

Field Type

Name

__________

Enter the name of the key personnel.

Text

Title

__________

Enter the title of the key personnel.

Text

Firm

__________

Enter the name of the firm with which the key personnel is affiliated.

Text

Years in the Field


__________ years


Enter the number of years key personnel has worked in the field.

Numeric

Years with Applicant


__________ years


Enter the number of years key personnel has worked for the Applicant.


Numeric

Position Held with Applicant

(select all that apply)

  • Executive Director or Equivalent

  • Chief Financial Officer or Equivalent

  • Loan / Investment Officer or Equivalent

  • Development Officer

  • Compliance Officer

  • Contracted Consultant

  • Other Key Management

  • Other Position Held with the Applicant

If Other, Please Specify ______________

Select more than one option if the person had held or holds more than one position with the Applicant.

Check Boxes

Duties to be Performed for the Applicant

(select all that apply)

  • Capital-raising

  • Asset Management (Loan Portfolio)

  • Asset Management (Property Portfolio)

  • Program Compliance

  • Real Estate Development

  • Construction Management

  • Sourcing/Loan Underwriting

  • Real Estate Finance

  • Property Management

  • Loan Servicing

  • Community Outreach

  • Legal Services

  • Other Duty to be Provided

If Other Duty to be Provided, Please Specify __________

  • Select the duties the individual will perform relative to administering the requested CMF Award.

  • Select more than one option if the person will perform more than one duty.

Check Boxes

Description of Key Staff Qualifications

Narrative – 1,000 characters

Discuss the individual’s qualifications that support his/her ability to perform his/her duties in administering a CMF Award, including their overall number of years of experience with similar activities.

Narrative

Description of Individuals’ Role in Managing the CMF Award

Narrative – 1,000 characters

Discuss the individual’s planned role and responsibilities in managing the CMF Award if received.

Narrative







Appendix 6: Previous CDFI Fund Awards/Allocations

The following information is for each of the prior CDFI Fund awards that the Applicant and/or any Affiliates have received (as of the Application deadline) will be auto-populated by AMIS.

Previous CDFI Fund Awards/Allocations

AMIS Field Name

Response

Question Tips

Field Type

Program Name

__________

Name of CDFI Fund Program

Auto-Calculated

Award/Allocation Amount

$__________

Amount of the Award/Allocation

Auto-Calculated

Year

yyyy

Year of the Award/Allocation

Auto-Calculated

Control Number

__________

Award/Allocation Control Number

Auto-Calculated





Appendix 7: Application Financial Data



  • An Applicant must provide data for the three most recently completed fiscal years prior to the date of the Notice of Fund Availability (NOFA) for which the Applicant has audited financials. For Certified CDFI Depository Institutions Only: Call Reports may be submitted in lieu of financial statements.

  • When entering data, ensure that the Financial Data 3 column contains financial data for the most recently completed fiscal year. Data for the middle year should be entered in the Financial Data 2 column. Data for the least recent year should be entered in the Financial Data 1 column.

  • Financial data may be provided on a consolidated or unconsolidated basis; however, the data in the Application must reflect the same basis as used in the audits attached to the Application. If submitting unconsolidated data for the Applicant entity only, it must be reflected in the attached audits. If the audit does not contain this unconsolidated data, you must enter consolidated data. If the attached audits contain both consolidated and unconsolidated financial information, you may choose which type to enter. However, you must enter the same type (consolidated/unconsolidated) for all three fiscal years. You will label the type of data submitted in AMIS. The data entered in Appendix 7 must match the attached audits.

  • For Certified CDFI Depository Institution Holding Companies Only: If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it must enter the financial data for the Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award in Tables D and E.

  • Definitions for the relevant terms are listed in Tables D, E, and F below.

  • For any items where a timing dependent valuation is required, that valuation should be based on the appropriate fiscal year end date.

  • AMIS Note: Affordable Housing Developers/Manager Applicants may enter $0 in the fields that are only required for Financing Entities in Table D, as AMIS requires that data be entered in these fields.



Table D – Applicant Financial Data

Responses (by Fiscal Year)

AMIS Field Name

Question Tips

Field Type

Required For

Financial Data 1

Financial Data 2

Financial Data 3

Fiscal Year

Select the Fiscal Year for which the data is provided.

Picklist

All Applicants

Least Recent Fiscal Year

Middle Fiscal Year

Most Recent Completed Fiscal

Financial Data Type

Select whether the financial information provided is Audited or Unaudited.

Picklist

All Applicants

Audited or Unaudited

Audited or Unaudited

Audited or Unaudited

Financial Data Consolidation

Select whether the financial data is on Consolidated or Unconsolidated basis.

Picklist

All Applicants

Consolidated or Unconsolidated

Consolidated or Unconsolidated

Consolidated or Unconsolidated

Single Audit Required?

Indicate whether the Applicant or its Affiliates were required to have a Single Audit completed in each of the Fiscal Years per 2 C.F.R. 200.501.

Picklist

All Applicants

Yes or No

Yes or No

Yes or No

Assets

Cash Restricted for Operations ($)

The dollar amount of cash, if any, restricted by an organization to fund its operations. Restricted cash appears noted on an organization’s balance sheet as either "restricted cash" or as "other assets" restricted for operations.

Currency

All Applicants

$______

$______

$______

Unrestricted Cash and Cash Equivalents ($)

The value of unencumbered assets that are cash or can be converted into cash within three months, such as bank accounts or marketable securities.

Currency

All Applicants

$______

$______

$______

Other Real Estate Owned (OREO) ($)

In general, real estate, including capitalized and operating leases, that is acquired through any means, in full or partial satisfaction of a debt previously contracted.

Currency

Financing Entities

$______

$______

$______

Current Assets ($)

Current Assets are cash and other assets/resources commonly identified as those which are reasonably expected to be realized in cash or sold or consumed during the normal operating cycle of the business (or one year, whichever is longer).

Currency

All Applicants

$______

$______

$______

Allowance for Loan and Lease Losses ($)

Account value for unidentified Loan or Investment losses, inclusive of depository loss reserve as of the reporting period end. This appears as a contra asset on the balance sheet. Note, this field should be entered as a positive number.

Currency

Financing Entities

$______

$______

$______

Total Assets ($)

The total value of the sum of all assets (current and non-current).

Currency

All Applicants

$______

$______

$______

Liabilities

Current Liabilities ($)

The total value of debts, obligations and payables due within 12 months. Current liabilities include, but are not limited to, short-term debt, accounts payable, accrued liabilities and other debts.

Currency

All Applicants

$______

$______

$______

Total Liabilities ($)

The total value of short-term and long-term outstanding debts, obligations, and payables.

Currency

All Applicants

$______

$______

$______

Net Assets (Net Worth)

Unrestricted Net Assets ($)

The portion of Net Assets that is neither permanently restricted nor temporarily restricted by donor-imposed stipulations. Board designated unrestricted net assets should be considered Unrestricted Net Assets for the purposes of this Application.

Currency

All Applicants

$______

$______

$______

Total Net Assets ($) or Equity

Equal to Total Assets minus Total Liabilities as reported in an organization's balance sheet.


Credit Unions and Bank Applicants: Enter “0” and complete Net Worth (Credit Unions) or Tier 1 Capital (Banks) as appropriate.

Currency

All Applicants

$______

$______

$______

Net Worth (Credit Union Applicants Only) ($)

As defined by the appropriate federal or state regulating agency.

Currency

Credit Union Applicants

$______

$______

$______

Tier 1 Capital (Bank Applicants Only) ($)

In general, this term is used by financial institution regulators to assess capital adequacy and may include common Equity, noncumulative perpetual preferred stock, minority interests in consolidated Subsidiaries, less goodwill and other ineligible, intangible assets.

Currency

Bank Applicants

$______

$______

$______

Available Financing Capital ($)

Assets that can be used for lending and Equity Investments that have not already been committed, disbursed, or restricted for other purposes.

Currency

Financing Entities

$______

$______

$______

Total Financing Capital ($)

All capital either currently available or currently in use for financing activities. Note: This data point includes “Available Financing Capital” and therefore should be equal to or greater than the value entered for “Available Financing Capital ($)” below.

Currency

Financing Entities

$______

$______

$______

Revenue and Expenses

Interest Revenue ($)

A financial measure calculated as the sum of money the institution earns in interest on its assets (commercial loans, personal mortgages, etc.). This figure is calculated by adding up the amount of interest earned on assets.

Currency

Financing Entities

$______

$______

$______

Fee/Rental Revenue ($)

Revenue generated from fees collected for services that are associated with an organization's mission. If the organization earns revenue from the rental of real property, include that amount here as well.

Currency

All Applicants

$______

$______

$______

Earned Revenue ($)

Revenue generated by assets and activities, excluding grants and contributions.

Currency

All Applicants

$______

$______

$______

Operating Revenue ($)

Revenue generated by assets and activities, including grants and contributions.

Currency

All Applicants

$______

$______

$______

Government Grants ($)

Financial assistance provided by Federal, State and local agencies to carry out a public purpose authorized by law, not including subsidies, Loans, Loan Guarantees, or insurance.

Currency

All Applicants

$______

$______

$______

Total Revenue ($)

The total value of revenue from all sources within the current operating cycle.

Currency

All Applicants

$______

$______

$______

Interest Expense ($)

The cost incurred by an entity for borrowed funds. It is essentially calculated as the interest rate times the outstanding principal amount of the debt.

Currency

Financing Entities

$______

$______

$______

Operating Expense ($)

Expenses related to everyday business operations, such as staff salaries, professional fees, and any other expenses directly related to the organization’s business operations.

Currency

All Applicants

$______

$______

$______

Non-cash Expenses ($)

Non-cash expenses are “paper” expenses and do not involve an outflow of cash. Such non-cash expenses include depreciation expense and allowance for loan and lease losses expense on the income statement.

Currency

All Applicants

$______

$______

$______

Total Expenses ($)

The total value of all operational and non-operational expenses (including Interest, financing cost, depreciation, amortization, and loan loss provision) incurred during the current reporting period, not including provision for income tax.

Currency

All Applicants

$______

$______

$______




Table E – Loan/Equity Portfolio (Required for Financing Entities)


The data entered in items for the “On-Balance Sheet” data fields in Table E must be for the loan/investment portfolio maintained on the balance sheet of the Applicant entity. If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it should provide data on the loan/investment portfolio maintained on the balance sheet of its Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award. When entering data, ensure that the Financial Data 3 column contains financial data for the most recently completed fiscal year. Data for the middle year should be entered in the Financial Data 2 column. Data for the least recent year should be entered in the Financial Data 1 column.



AMIS Note: This table is not required for Affordable Housing Developer/Manager Applicants and will not appear in the AMIS Application for these Applicants.


Table E – Loan/Equity Portfolio

Responses (by Fiscal Year)

AMIS Field Name

Question Tips

Field Type

Required For

Financial Data 1

Financial Data 2

Financial Data 3

Loan and Investment Portfolio

Total On-Balance Sheet Loan Portfolio ($)

The gross dollar amount ($) of loans receivable as reported in an organization’s statement of financial condition or balance sheet. Gross loans receivable are the principal amount of loans receivable held by an organization that represents the amount still owed to the organization by its borrowers, without giving effect to any allowance for the collectability thereof (i.e. before loan loss reserves are calculated).

Currency

Financing Entity

$______

$______

$______

Total On-Balance Sheet Loan Portfolio (#)

The total number (#) of loans receivable as reported in an organization’s statement of financial condition or balance sheet.

Numeric

Financing Entity

_______

_______

_______

Commitments ($)

The total dollar amount ($) of loan or Equity Investment commitments made by an organization to borrowers or investees that have not yet been disbursed, but for which the organization has reserved cash, cash equivalents, or other assets to fund at a later date (e.g., a loan that is closed but not yet disbursed, a loan that has been provisionally approved but will not be closed or disbursed until a borrower meets certain terms and conditions; a loan that has been approved by a loan committee, but not yet closed).

Currency

Financing Entity

$______

$______

$______

Commitments (#)

The number (#) of loan or Equity Investment commitments.

Numeric

Financing Entity

$______

$______

$______

Total Charge-offs ($)

The dollar amount ($) of a receivable, primarily a loan, that has been determined to be a loss or non-recoverable during the repayment cycle and that has been taken off the balance sheet as a loss during the reporting period and a direct reduction of the carrying amount of a financial asset measured at amortized cost resulting from the inability to collect the asset. A financial asset is considered uncollectible if the entity has no reasonable expectation of recovery.

Currency

Financing Entity

$______

$______

$______

Total Charge-offs (#)

The total number (#) of receivables, primarily loans, that have been determined to be a loss or non-recoverable during the repayment cycle and that have been taken off the balance sheet as a loss during the reporting period.

Numeric

Financing Entity

_______

_______

_______

Troubled Debt Restructuring ($)

The total dollar amount ($) of all debt restructured during the reporting period by a creditor for economic or legal reasons related to the debtor’s financial difficulties and/or inability to pay and perform as agreed.

Currency

Financing Entity

$______

$______

$______

Troubled Debt Restructuring (#)

The total number (#) of debt instruments restructured during the reporting period by a creditor for economic or legal reasons related to the debtor’s financial difficulties and/or inability to pay and perform as agreed.

Numeric

Financing Entity

_______

_______

_______

Recoveries ($)

The total dollar amount ($) of all gross recoveries on charged-off loans, less any related expenses, collected during the current reporting period.

Currency

Financing Entity

$______

$______

$______

Recoveries (#)

The total number (#) of loans with gross recoveries collected during the current reporting period.

Numeric

Financing Entity

_______

_______

_______

Loans 90 Days (or more) Past Due ($)

The total dollar amount ($) amount of all loans 90 or more days past due. Loans should be considered past due if any part of the payment is past due.

Currency

Financing Entity

$______

$______

$______

Loans 90 Days (or more) Past Due (#)

The total number (#) of loans 90 or more days past due. Loans should be considered past due if any part of the payment is past due.

Numeric

Financing Entity

_______

_______

_______

Loans Delinquent 61 to 89 days ($)

The total dollar amount ($) amount of all loans 61 to 89 days past due. Loans should be considered past due if any part of the payment is past due.

Currency

Financing Entity

$______

$______

$______

Loans Delinquent 61 to 89 days (#)

The total number (#) of all loans 61 to 89 days past due. Loans should be considered past due if any part of the payment is past due.

Numeric

Financing Entity

_______

_______

_______

Total Equity Investments Portfolio ($)

The total dollar amount ($) of Equity Investments held by an organization in portfolio companies in which it owns stock or other forms of ownership interest. Total Equity Investment portfolio should reflect the valuation of the organization’s interests after making adjustments for any investment gains or losses.

Currency

Financing Entity

$______

$______

$______

Total Equity Investments Portfolio (#)

The total number (#) of Equity Investments held by an organization in portfolio companies in which it owns stock or other forms of ownership interest.

Numeric

Financing Entity

$______

$______

$______






Table F – Property Portfolio (Required for Affordable Housing Developers/Managers)


Affordable Housing Developers/Managers will enter their property portfolio data in Table F for the three most recently completed fiscal years prior to publication date of the applicable NOFA. When entering data, ensure that the Financial Data 3 column contains financial data for the most recently completed fiscal year. Data for the middle year should be entered in the Financial Data 2 column. Data for the most recent year should be entered in the Financial Data 3 column.

AMIS Note: This table is not required for Financing Entities and will not appear in the AMIS Application for these Applicants.



Question

Response

Question Tips

Does the Affordable Housing Developer/Manager Applicant have a rental property portfolio under management?

Yes/No

Only Applicants who respond “Yes” to this question will be able to complete Table F.




Table F – Property Portfolio (Developers of Rental Property Only)

Responses (by Fiscal Year)

AMIS Field Name

Question Tips

Field Type

Required For

Financial Data 1

Financial Data 2

Financial Data 3

Total Number of Properties

Enter the total number of properties in the Applicant’s property portfolio.

Numeric

Developer

_______

_______

_______

Total Number of Units in the Portfolio

Enter the total number of units in the Applicant’s property portfolio.

Numeric

Developer

_______

_______

_______

Average Vacancy Rate for Portfolio

Average annual vacancy rate for all units in Applicant’s property portfolio. Calculation: number of vacant units divided by total number of units.

Percentage

Developer

_______%

_______%

_______%

Total Percentage of Rent Collected for Portfolio

Percentage of rent collected for the entire portfolio. Calculation: total rent collected divided by gross rental revenue due.

Percentage

Developer

_______%

_______%

_______%

Total NOI for Portfolio

Total annual Net Operating Income (NOI) for the portfolio. Calculation: Total Income minus total operating expenses.

Currency

Developer

$______

$______

$______

Total DCR for Portfolio

Annual debt coverage ratio for portfolio. NOI divided by total debt service costs.

Numeric

Developer

_______

_______

_______

Total Properties with HUD REAC Score Below 60

Total number of properties in the portfolio subject to HUD Real Estate Assessment Center (REAC) inspection with scores below 60.

Numeric

Developer

_______

_______

_______



Appendix 8: AMIS Application Attachments


The following documents must be submitted as attachments as part of the Applicant’s AMIS Application. Please note that different Applicant types have different required attachments. Be sure to attach all required documents for your Applicant type or AMIS may prevent you from submitting the Application.


AMIS APPLICATION ATTACHMENTS

Audited Financial Statements (most recently completed 2 fiscal years as of the date of the NOFA)

  • Data in the audited financial statements should correspond with the data entered in Tables D and E.

  • If the Applicant is a Certified CDFI Depository Institution, it may submit call reports. If the Applicant is a Certified CDFI Depository Institution Holding Company that intends to carry out the activities of a CMF Award through its Certified CDFI Subsidiary Insured Depository Institution, it must submit call reports for the Certified CDFI Subsidiary Insured Depository Institution that will administer the CMF Award.

  • If the Applicant is unable to submit its two most recently completed fiscal years of audited financial statements, its Application will be deemed incomplete and ineligible.

Required for All Applicants

Any management letter related to the audited financial statements for the two most recently completed fiscal years as of the date of the NOFA

Required for all Applicants

State charter, articles of incorporation, or other establishing documents designating that the Applicant is a Nonprofit or not-for-profit entity under the laws of the organization’s State of formation

Required only for Applicants that are not Certified CDFIs

A certification or determination letter demonstrating tax-exempt status from the IRS1

Required only for Applicants that are not Certified CDFIs

Articles of incorporation, by-laws or other establishing document demonstrating the Applicant has a principal purpose of managing or developing affordable housing

Required only for Applicants that are not Certified CDFIs

An organizational chart demonstrating the relationship between the Applicant and any Affiliate, Subsidiary or parent entity that will play a role in executing the CMF Award.

Required for all Applicants.





Appendix 9: Forms and Certifications

All CMF Applicants must complete the Environmental Review Form and Assurances and Certifications as part of their AMIS online application submission. Any Applicant that is a 501(c)(4) must complete the 501(c)(4) form as part of their AMIS online Application submission.

Environmental Review Form

TIP: This form must be completed in AMIS by all Applicants. It is available on the AMIS Application under the Forms and Certifications Appendix. Note, by selecting “No” for the questions, the Applicant indicates that it does not have any projects that may require environmental review.

The CDFI Fund’s environmental review requirements are set forth in 12 CFR Part 1815. The Applicant should review such regulations carefully before completing this section. In order to assure compliance with those regulations and other requirements related to the environment, the Applicant shall provide the following information:

Environmental Review Form

YES

NO

  1. Are there any actions proposed in the Application that do not constitute a “categorical exclusion” as defined in 12 CFR 1815.110?



If YES, would any of these actions normally require an environmental impact statement (see 12 CFR 1815.108)?



  1. Are there any activities proposed in the Application that involve:



  1. Historical or archaeological sites listed on the National Register of Historic Places, or that may be eligible for such listing?



  1. Wilderness areas designated or proposed under the Wilderness Act?



  1. Wild or scenic rivers proposed or listed under the Wild and Scenic Rivers Act?



  1. Critical habitats of endangered or threatened species?



  1. Natural landmarks listed on the National Registry of Natural Landmarks?



  1. Coastal barrier resource systems?



  1. Coastal Zone Management Areas?



  1. Sole Source Aquifer Recharge Areas designated by EPA?



  1. Wetlands?



  1. Flood plains?



  1. Prime and unique farmland?



  1. Properties listed or under consideration for listing on the Environmental Protection Agency’s List of Violating Facilities?



If YES to any of the above questions, attach a detailed description of each action, clearly identifying the category in which the action falls.

Notification

As stated in 12 CFR 1815.105, if the CDFI Fund determines that the Application proposes actions which require an environmental assessment or an environmental impact statement, any approval and funding of the Application will be contingent upon:

  1. The Applicant supplying to the CDFI Fund all information necessary for the CDFI Fund to perform or have performed any required environmental review;

  2. The Applicant not using any CDFI Fund Financial Assistance to perform any of the proposed actions in the Application requiring an environmental review until approval is received from the CDFI Fund; and

  3. The outcome of the required environmental review.

In addition, as stated in 12 CFR 1815.106, if the CDFI Fund determines that an Application, or any part thereof, is not sufficiently definite to perform a meaningful environmental review prior to approval of the Application, final approval and funding of the Application shall require supplemental environmental review prior to the taking of any action directly using CDFI Fund Financial Assistance for any action that is not a categorical exclusion.



Assurances and Certifications

AMIS TIP: In addition to signing the SF-424, an Applicant must indicate “Yes” that it is certifying the Assurances and Certifications in AMIS. It will do this under the area titled “Assurances and Certifications Form” on the Application main page in AMIS.


By signing the certification on the SF-424, the Applicant is certifying the Assurances and Certifications listed below. Certain Assurances and Certifications may not be applicable to the Applicant. An Applicant may not modify any of the Assurances and Certifications.


Standard Form 424B: Assurances – Non-Construction Programs



As the duly authorized representative of the Applicant, I certify that the Applicant:


  1. Has the legal authority to apply for Federal assistance, and the institutional, managerial and financial capability (including funds sufficient to pay the non-Federal share of project costs) to ensure proper planning, management, and completion of the project described in this Application.

  2. Will give the awarding agency, the Comptroller General of the United States, and if appropriate, the State, through any authorized representative, access to and the right to examine all records, books, papers, or documents related to the award; and will establish a proper accounting system in accordance with generally accepted accounting standards or agency directives.

  3. Will establish safeguards to prohibit employees from using their positions for a purpose that constitutes or presents the appearance of personal or organizational conflict of interest, or personal gain.

  4. Will initiate and complete the work (activities in Application) within the applicable time frame after receipt of approval of the awarding agency.

  5. Will comply with the Intergovernmental Personnel Act of 1970 (42 U.S.C. 4728-4763) relating to prescribed standards for merit systems for programs funded under one of the nineteen statutes or regulations specified in Appendix A of Ohm’s Standards for a Merit System of Personnel Administration (5 C.F.R. 900, Subpart F).

  6. Will comply with all Federal statutes relating to nondiscrimination. These include but are not limited to: (a) Title VI of the Civil Rights Act of 1964 (P.L.88-352) which prohibits discrimination on the basis of race, color or national origin; (b) Title IX of the Education Amendments of 1972, as amended (20 U.S.C.1681-1683, 1685-1686), which prohibits discrimination on the basis of sex; (c) Section 504 of the Rehabilitation Act of 1973, as amended (29 U.S.C.794), which prohibits discrimination on the basis of handicaps; (d) the Age Discrimination Act of 1975, as amended (42 U.S.C.6101-6107), which prohibits discrimination on the basis of age; (e) the Drug Abuse Office and Treatment Act of 1972 (P.L. 92-255), as amended, relating to nondiscrimination on the basis of drug abuse; (f) the Comprehensive Alcohol Abuse and Alcoholism Prevention, Treatment and Rehabilitation Act of 1970 (P.L.91-616), as amended, relating to nondiscrimination on the basis of alcohol abuse or alcoholism; (g) Sections 523 and 527 of the Public Health Service Act of 1912 (42 U.S.C. 290 dd-3 and 290 ee-3), as amended, relating to confidentiality of alcohol and drug abuse patient records; (h) Title VIII of the Civil Rights Act of 1968 (42 U.S.C.3601 et seq.), as amended, relating to nondiscrimination in the sale, rental or financing of housing; (i) any other nondiscrimination provisions in the specific statute(s) under which Application for Federal assistance is being made; and (j) the requirements of any other nondiscrimination statutes which may apply to the Application.

  7. Will comply, or has already complied, with the requirements of Titles II and III of the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (P.L. 91-646) which provide for fair and equitable treatment of persons displaced or whose property is acquired as a result of Federal or federally assisted programs. These requirements apply to all interests in real property acquired for project purposes regardless of Federal participation in purchases.

  8. Will comply with the provisions of the Hatch Act (5 U.S.C.1501-1508 & 7324-7328), which limit the political activities of employees whose principal employment activities are funded in whole or in part with Federal funds.

  9. Will comply, as applicable, with the provisions of the Davis-Bacon Act (40 U.S.C. 276a to 276a-7), the Copeland Act (40 U.S.C. 276c and 18 U.S.C. 874), and the Contract Work Hours and Safety Standards Act (40 U.S.C. 327-333), regarding labor standards for federally assisted construction sub agreements.

  10. Will comply, if applicable, with flood insurance purchase requirements of Section 102(a) of the Flood Disaster Protection Act of 1973 (P.L. 93-234) which requires recipients in a special flood hazard area to participate in the program and to purchase flood insurance if the total cost of insurable construction and acquisition is $10,000 or more.

  11. Will comply with environmental standards which may be prescribed pursuant to the following: (a) institution of environmental quality control measures under the National Environmental Policy Act of 1969 (P.L.91-190) and Executive Order 11514; (b) notification of violating facilities pursuant to EO 11738; (c) protection of wetlands pursuant to EO 11990; (d) evaluation of flood hazards in floodplains in accordance with EO 11988; (e) assurance of project consistency with the approved State management program developed under the Coastal Zone Management Act of 1972 (16 U.S.C. 1451et seq.); (f) conformity of Federal actions to State Implementation Plans under Section 176(c) of the Clean Air Act of 1955, as amended (42 U.S.C. 7401 et seq.); (g) protection of underground sources of drinking water under the Safe Drinking Water Act of 1974, as amended, (P.L.93-523); and (h) protection of endangered species under the Endangered Species Act of 1973, as amended, (P.L.93-205).

  12. Will comply with the Wild and Scenic Rivers Act of 1968 (16 U.S.C. 1271 et seq.) related to protecting components or potential components of the national wild and scenic rivers system.

  13. Will assist the awarding agency in assuring compliance with Section 106 of the National Historic Preservation Act of 1966, as amended (16 U.S.C. 470), EO 11593 (identification and protection of historic properties), and the Archaeological and Historic Preservation Act of 1974 (16 U.S.C. 469a-1 et seq.).

  14. Will comply with P.L. 93-348 regarding the protection of human subjects involved in research, development, and related activities supported by this award of assistance.

  15. Will comply with the Laboratory Animal Welfare Act of 1966 (P.L. 89-544, as amended, 7 U.S.C. 2131 et seq.) pertaining to the care, handling, and treatment of warm blooded animals held for research, teaching, or other activities supported by this award of assistance.

  16. Will comply with the Lead-Based Paint Poisoning Prevention Act (42 U.S.C. 4801 et seq.) which prohibits the use of lead based paint in construction or rehabilitation of residence structures.

  17. Will cause to be performed the required financial and compliance audits in accordance with the Single Audit Act of 1984.

  18. Will comply with all applicable requirements of all other Federal laws, executive orders, regulations and policies governing this program.

  19. Will comply with the requirements of Section 106(g) of the Trafficking Victims Protection Act (TVPA) of 2000, as amended (22 U.S.C. 7104) which prohibits grant award recipients or a sub-recipient from (1) Engaging in severe forms of trafficking in persons during the period of time that the award is in effect (2) Procuring a commercial sex act during the period of time that the award is in effect or (3) Using forced labor in the performance of the award or sub-awards under the award.




  1. Additional Certifications



In addition to the assurances and certifications provided by the Applicant pursuant to OMB Standard Form 424, the Applicant hereby assures and certifies that:


  1. It is duly organized and validly existing under the laws of the jurisdiction in which it was incorporated or otherwise established, and is (or within 30 days will be) authorized to do business in any jurisdiction in which it proposes to undertake activities specified in this Application;

  2. Its Board of Directors (or similar governing body) has by proper resolution or similar action authorized the filing of this Application, including all understandings and assurances contained herein, and directed and authorized the person identified as the authorized representative of the Applicant to act in connection with this Application and to provide such additional information as may be required;

  3. It will comply with all applicable requirements of the Community Development Banking and Financial Institutions Act of 1994 (the Act) [12 U.S.C. 4701 et seq.], regulations implementing the Act and all other applicable Department of the Treasury regulations and implementing procedures (and any regulations or procedures which are later promulgated to supplement or replace them);

  4. It will comply, as applicable and appropriate, with the requirements of 2 C.F.R. 200 and any regulations and circulars which are later promulgated to supplement or replace them, including standards for fund control and accountability;

  5. It has not knowingly and willfully made or used a document or writing containing any false, fictitious or fraudulent statement or entry as part of this Application or any related document, correspondence or communication. (The Applicant and its authorized representative should be aware that, under 18 U.S.C. 1001, whoever knowingly and willfully makes or uses such document or writing shall be fined or imprisoned for not more than five years, or both); and

  6. It has not had proceedings instituted against it in, by, or before any court, governmental agency, or administrative body, and a final determination made within the last 3 years as of the date of the NOFA indicating that the Applicant has violated any of the following laws: Title VI of the Civil Rights Act of 1964, as amended (42 U.S.C.2000d); Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. 794); the Age Discrimination Act of 1975 (42 U.S.C. 6101-6107); Title VIII of the Civil Rights Act of 1968, as amended (42 U.S.C. 3601 et seq.); and Executive Order 13166, Improving Access to Services for Persons with Limited English Proficiency.

  7. The information in this Application, and in these assurances and certifications in support of the Application, is true and correct to the best of the Applicant’s knowledge and belief and the filing of this Application has been duly authorized.


  1. Certification Regarding Debarment, Suspension, and Other Responsibility Matters – Primary Covered Transactions: Instructions for Certification



  1. By signing and submitting this Application, the prospective primary participant (the Applicant) is providing the certification set out below.

  2. The inability of a person to provide the certification required below will not necessarily result in the denial of participation in this covered transaction. The prospective Applicant shall submit an explanation of why it cannot provide the certification set out below. The certification or explanation will be considered in connection with the CDFI Fund’s determination whether to enter into this transaction (approval and funding of the Application). However, failure of the Applicant to furnish a certification or an explanation shall disqualify such person from participation in this transaction.

  3. This certification is a material representation of fact upon which reliance is placed when the CDFI Fund determines to enter into this transaction. If it is later determined that the Applicant knowingly rendered an erroneous certification, in addition to other remedies available to the Federal Government, the CDFI Fund may terminate this transaction for cause or default.

  4. The Applicant shall provide immediate written notice to the CDFI Fund if at any time the Applicant learns that its certification was erroneous when submitted or has become erroneous by reason of changed circumstances.

  5. The terms “covered transactions,” “debarred,” “suspended,” “ineligible,” “lower tier covered transaction,” “participant,” “person,” “primary covered transaction,” “principal,” “proposal”, and “voluntarily excluded,” as used in this clause (certification), have the meanings set out in the Definitions and Coverage sections of the rules implementing Executive Order 12549. You may contact the CDFI Fund for assistance in obtaining a copy of those regulations (31 C.F.R. part 19).

  6. The Applicant agrees by submitting this Application that, should the proposed covered transaction be entered into, it shall not knowingly enter into any lower tier covered transaction with a person who is debarred, suspended, declared ineligible, or voluntarily excluded from participation in this covered transaction, unless authorized by the CDFI Fund.

  7. The Applicant further agrees by submitting this Application that it will include the clause titled “Certification Regarding Debarment, Suspension, Ineligibility and Voluntary Exclusion-Lower Tier Covered Transaction,” to be provided by the CDFI Fund, without modification, in all lower tier covered transactions and in all solicitations for lower tier covered transactions (see 31 C.F.R. part 19, Appendix B).

  8. A participant in a covered transaction may rely upon a certification of a prospective participant in a lower tier covered transaction that it is not debarred, suspended, ineligible, or voluntarily excluded from the covered transaction, unless it knows that the certification is erroneous. A participant may decide the method and frequency by which it determines the eligibility of its principals. Each participant may, but is not required to, check the No Procurement List.

  9. Nothing contained in the foregoing shall be construed to require establishment of a system of records in order to render in good faith the certification required by this clause. The knowledge and information of a participant is not required to exceed that which is normally possessed by a prudent person in the ordinary course of business dealings.

  10. Except for transactions authorized under paragraph 6 of these instructions, if a participant in a covered transaction knowingly enters into a lower tier covered transaction with a person who is suspended, debarred, ineligible, or voluntarily excluded from participation in this transaction, in addition to other remedies available to the Federal Government, the CDFI Fund may terminate this transaction for cause or default.


  1. Certification Regarding Debarment, Suspension, and Other Responsibility Matters – Primary Covered Transactions



  1. The prospective primary participant (the Applicant) certifies to the best of its knowledge and belief, that it and its principals:

    1. are not presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from covered transactions by any Federal department or agency;

    2. have not within a three-year period preceding this Application been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offense in connection with obtaining, attempting to obtain, or performing a public (Federal, State or local) transaction or contract under a public transaction; violation of Federal or State antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property;

    3. are not presently indicted for or otherwise criminally or civilly charged by a governmental entity (Federal, State or local) with commission of any of the offenses enumerated in paragraph (1)(b) of this certification; and

    4. Have not within a three-year period preceding this Application had one or more public transactions (Federal, State or local) terminated for cause or default.

  1. Where the Applicant is unable to certify to any of the statements in this certification, such Applicant shall attach an explanation to this proposal.


  1. Certification Regarding Drug-Free Workplace Requirements



  1. The Applicant certifies that it will provide a drug-free workplace by:

    1. publishing a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the Applicant’s workplace and specifying the actions that will be taken against employee for violations of such prohibition;

    2. establishing a drug-free awareness program to inform employees about:

            1. the dangers of drug abuse in the workplace;

            2. the Applicant’s policy of maintaining a drug-free workplace;

            3. any available drug counseling, rehabilitation, and employee assistance program;

            4. the penalties that may be imposed upon employees for drug abuse violations occurring in the workplace;

    1. making it a requirement that each employee to be engaged in the performance of the award be given a copy of the statement required by subparagraph (a);

    2. notifying the employee in the statement required by subparagraph (a) that, as a condition of employment in such grant, the employee will:

            1. abide by the terms of the statement; and

            2. notify the employer of any criminal drug use statute conviction for a violation occurring in the workplace no later than five calendar days after such conviction;

    1. notifying the granting agency in writing, within ten calendar days after receiving notice of a conviction under subparagraph (d) (ii) from an employee or otherwise receiving actual notice of such conviction;

    2. taking one of the following actions, within 30 days of receiving notice under subparagraph (d)(ii), with respect to any employee who is so convicted:

            1. taking appropriate personnel action against such an employee, up to and including termination, consistent with the requirements of the Rehabilitation Act of 1973, as amended; or

            2. requiring such employee to participate satisfactorily in a drug abuse assistance or rehabilitation program approved for such purposes by a Federal, State, or local health, law enforcement, or other appropriate agency; and

    1. making a good faith effort to continue to maintain a drug-free workplace through implementation of subparagraphs (a), (b), (c), (d), (e), and (f).

  1. The Applicant may insert in the space provided below the site(s) for the performance of work (activities carried out by the Applicant) to be done in connection with the award (Place of Performance (Street Address, City, County, State and zip Code)): Not Applicable.


  1. Certification Regarding Lobbying



  1. The Applicant certifies, to the best of its knowledge and belief, that:

            1. No Federal appropriated funds have been paid or will be paid, by or on behalf of the Applicant, to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with the awarding of any Federal contract, the making of any Federal grant, the making of any Federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any Federal contract, grant, loan, or cooperative agreement;

            2. If any funds other than Federal appropriated funds have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a Member of Congress in connection with this Application, the undersigned shall complete and submit Standard Form LLL, “Disclosure Form to Report Lobbying“ in accordance with its instructions; and

            3. The Applicant shall require that the language of this certification be included in the award documents for all sub-awards of all tiers (including subcontracts, sub grants, and contracts under grants, loans, and cooperative agreements) and that all sub recipients shall certify and disclose accordingly.

  1. This certification is a material representation of fact upon which reliance is placed when this transaction is made or entered into. Submission of this certification is a prerequisite for making or entering into this transaction imposed by section 1352, title 31, U.S. Code. Any person who fails to file the required certification shall be subject to a civil penalty of not less than $10,000 and not more than $100,000 for each such failure.

501(C)(4) Questionnaire

AMIS TIP: An Applicant must only complete this form in AMIS if it is recognized as a 501(c)(4) entity. No other Applicants should complete this form.

This questionnaire is necessary for the CDFI Fund to determine whether an Applicant with a 501(c)(4) designation from the IRS is eligible to receive an award from the Fund (see 2 U.S.C. 1601, et al.). Please read all definitions before responding to the questions and continue to refer to such definitions in responding to this questionnaire. If the answer to any question is yes, please describe in detail on a separate sheet(s) of paper the facts and circumstances, including: subject matter; date(s); names and titles of all individuals and their employers and their organizations. The CDFI Fund reserves the right to seek follow-up responses from an Applicant. Failure to complete this questionnaire and, if applicable, respond timely to follow-up questions, will delay the CDFI Fund’s processing of the Application, and may result in the disqualification of the Application from further consideration. After submitting responses to this questionnaire, the Applicant is under a continuing obligation to: (1) supplement its responses upon a change in circumstances; and (2) revise or modify its responses within 10 business days of having actual or constructive knowledge that the responses previously submitted and certified are no longer complete, accurate, or true. You may contact the CDFI Fund’s Office of Legal Counsel at (202) 653-0300 if you have any questions about this form.

Scope: The scope of this questionnaire is limited to activities on or after January 1, 1996.

Questions


  1. Has any officer, employee, director, partner, proprietor, or board member contactedi a Covered Executive Branch Officialii with regard to the formulation, modification, or adoption of Federal legislation (including legislative proposals)?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or board member contacted a Covered Executive Branch Official with regard to the formulation, modification, or adoption of a Federal rule, regulation, Executive Order, or any other program, policy, or position of the United States Government?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member contacted a Covered Executive Branch Official with regard to the administration or execution of a Federal program or policy (including the negotiation, award, or administration or a Federal contract, grant, loan, permit, or license)?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member contacted a Covered Executive Branch Official with regard to the nomination or confirmation of a person for a position subject to confirmation by the United States Senate?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member engaged in efforts supporting and coordinating the contact by others of a Covered Executive Branch Official including preparation and planning activities, research and other background work that was intended, at the time performed, for a purpose described in Questions 1-4?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member contacted a Covered Legislative Branch Officialiii with regard to the formulation, modification, or adoption of Federal legislation (including legislative proposals)?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member contacted a Covered Legislative Branch Official with regard to the formulation, modification, or adoption of a Federal rule, regulation, Executive Order, or any other program, policy, or position of the United States Government?

Yes

No

  1. Has any officer employee, director, partner, proprietor, or Board member contacted a Covered Legislative Branch Official with regard to the administration or execution of a Federal program or policy (including the negotiation, award, or administration of a Federal contract, grant, loan, permit, or license)?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member contacted a Covered Legislative Branch Official with regard to the nomination or confirmation of a person for a position subject to confirmation by the United States Senate?

Yes

No

  1. Has any officer, employee, director, partner, proprietor, or Board member engaged in efforts supporting and coordinating the contact by others of a Covered Legislative Branch Official including preparation and planning activities, research and other background work that was intended, at the time performed, for a purpose described in Questions 6-9?

Yes

No

Signature

Signing the certification on SF-424 certifies that the answers to the 501(c)(4) Questionnaire and the written explanations attached thereto are true, accurate, and complete to the best of its information, knowledge, and belief and that, since January 1, 1996, the Applicant has not engaged in Lobbying Activities as defined in Section 3 (7) of the Lobbying Disclosure Act of 1995, P.L. 104-65, as amended.



iContacted” (or “contacted”) means any oral or written communication, including an electronic communication.

ii Covered Executive Branch Official” means: (a) the President; (b) the Vice President; (c) any officer or employee, or any other individual functioning in the capacity of such an officer or employee, in the Executive Office of the President; (d) any officer or employee serving in an Executive Level I-V position, a “Schedule C” position, or any official in a Senior Executive Service position; (e) any member of the uniformed services serving at grade O-7 or above; or (f) any officer or employee serving in a position of a confidential, policy-determining, policy-making, or policy-advocating character described in section 7511(b)(2) of title 5, United States Code.

iii “Covered Legislative Branch Official” means: (a) a member of Congress; (b) an elected officer of either House of Congress; (c) any employee of the House or Senate, including employees of Members, committees, leadership and working groups or caucuses organized to provide legislative services or other assistance to Members of Congress; and (d) any other legislative branch employee serving in a position described under section 109(13) of the Ethics in Government Act of 1978 (5 U.S.C. App.).



1 For Applicants that are governmental instrumentalities only, and as long as all other eligibility requirements are met, the Applicant must submit a legal opinion from counsel, in form and substance acceptable to the CDFI Fund, opining that the Applicant is exempt from Federal income tax, if the Applicant does not otherwise have such determination in a document from the IRS.



File Typeapplication/vnd.openxmlformats-officedocument.wordprocessingml.document
File TitleCMF PRA Application for Comment
AuthorAiello, Daniel
File Modified0000-00-00
File Created2021-05-01

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