Post by bot on Oct 31, 2013 19:47:19 GMT -5
CDFI Fund Seeks Public Comment on Programmatic and Administrative Aspects of the BEA Program
The U.S. Department of the Treasury invites the general public and other Federal agencies to take this opportunity to comment on certain programmatic and administrative aspects of the Community Development Financial Institutions Fund’s (CDFI Fund) Bank Enterprise Award Program (BEA Program), pursuant to the BEA Program regulations set forth at 12 CFR part 1806 (the Interim Rule). The request for public comments was published October 29, 2013 in the Federal Register.
Through the BEA Program, the CDFI Fund encourages Insured Depository Institutions to increase their investments in Community Development Financial Institutions (CDFIs) through grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, as well as increased activities in the form of loans, investments, services, and technical assistance provided within Distressed Communities. The increase in these activities is measured from a Baseline Period to an Assessment Period.
Currently, the CDFI Fund is seeking comments from the public regarding certain programmatic and administrative aspects of the BEA Program. General comments are invited on any aspect of the BEA Program, including, but not limited to, program design, direction, impacts, and performance measures. The CDFI Fund also specifically requests comments on the following:
1.Whether an organization’s Community Reinvestment Act rating and/or financial health should be an Eligibility requirement of the BEA Program;
2.Whether the current definition of “Integrally Involved” as it relates to the BEA Program should be revised or replaced;
3.Whether the CDFI Fund should revise, replace, or add to the existing types of CDFI-Related, Distressed Community Financing or Service activities eligible for BEA Program awards;
4.Whether the CDFI Fund should broaden the BEA Program qualified activities to include “Pay for Success” activities;
5.Whether the CDFI Fund should prohibit loans or investments to certain types of businesses that otherwise meet other eligibility criteria from qualifying for the BEA Program;
6.What factors the CDFI Fund should consider when determining final award size for the BEA Program; and
7.The potential burden on applicants of proposed modifications to BEA Program reporting and supporting documentation requirements.
All comments must be received by December 30, 2013 and must be submitted in writing and sent to: CDFI Fund, BEA Program Office, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington, DC 20220; by e-mail to bea@cdfi.treas.gov; or by facsimile to (202) 508-0089. Please note that this is not a toll-free number.
For more information about the BEA Program, please visit www.cdfifund.gov/bea.
The U.S. Department of the Treasury invites the general public and other Federal agencies to take this opportunity to comment on certain programmatic and administrative aspects of the Community Development Financial Institutions Fund’s (CDFI Fund) Bank Enterprise Award Program (BEA Program), pursuant to the BEA Program regulations set forth at 12 CFR part 1806 (the Interim Rule). The request for public comments was published October 29, 2013 in the Federal Register.
Through the BEA Program, the CDFI Fund encourages Insured Depository Institutions to increase their investments in Community Development Financial Institutions (CDFIs) through grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, as well as increased activities in the form of loans, investments, services, and technical assistance provided within Distressed Communities. The increase in these activities is measured from a Baseline Period to an Assessment Period.
Currently, the CDFI Fund is seeking comments from the public regarding certain programmatic and administrative aspects of the BEA Program. General comments are invited on any aspect of the BEA Program, including, but not limited to, program design, direction, impacts, and performance measures. The CDFI Fund also specifically requests comments on the following:
1.Whether an organization’s Community Reinvestment Act rating and/or financial health should be an Eligibility requirement of the BEA Program;
2.Whether the current definition of “Integrally Involved” as it relates to the BEA Program should be revised or replaced;
3.Whether the CDFI Fund should revise, replace, or add to the existing types of CDFI-Related, Distressed Community Financing or Service activities eligible for BEA Program awards;
4.Whether the CDFI Fund should broaden the BEA Program qualified activities to include “Pay for Success” activities;
5.Whether the CDFI Fund should prohibit loans or investments to certain types of businesses that otherwise meet other eligibility criteria from qualifying for the BEA Program;
6.What factors the CDFI Fund should consider when determining final award size for the BEA Program; and
7.The potential burden on applicants of proposed modifications to BEA Program reporting and supporting documentation requirements.
All comments must be received by December 30, 2013 and must be submitted in writing and sent to: CDFI Fund, BEA Program Office, U.S. Department of the Treasury, 1500 Pennsylvania Avenue, NW, Washington, DC 20220; by e-mail to bea@cdfi.treas.gov; or by facsimile to (202) 508-0089. Please note that this is not a toll-free number.
For more information about the BEA Program, please visit www.cdfifund.gov/bea.