Border Community Capital Initiative

 

The Initiative’s goal is to increase access to capital for affordable housing, business lending and community facilities in the chronically underserved and undercapitalized U.S./Mexico border region. Specifically, it will provide direct investment and technical assistance to community development lending and investing institutions that focus on affordable housing, small business and community facilities to benefit the residents of colonias.

Funds may be used to support eligible activities that serve the following objectives:

• Expanding services in eligible colonias target markets by established lenders and investors in affordable housing, small business, and community facilities, and/or

• Securing new public or private capital sources for lending or investing in affordable housing, small business and community facilities in existing or new eligible target markets.

General information about this opportunity
Last Known Status
Active
Program Number
14.266
Federal Agency/Office
Agency: Department of Housing and Urban Development
Office: Office of Community Planning and Development
Type(s) of Assistance Offered
Project Grants
Program Accomplishments
Fiscal Year 2014: No program accomplishments during FY2014. Fiscal Year 2015: Accomplishment data should be available June FY 2018. Fiscal Year 2016: No budget funds are projected for FY2016.
Authorization
Departments of Veterans Affairs and Housing and Urban Development, and Independent
Agencies Appropriations Act, 1999, Public Law 105-276.
Who is eligible to apply/benefit from this assistance?
Applicant Eligibility
Applicants that are eligible to participate in this initiative are community development lenders and investors, which may be local rural non-profit organizations or federally recognized tribes. Applicants do not need to be certified as Community Development Financial Institutions by the CDFI Fund at the time of application. Applicants may serve other markets than colonias residents and communities, using other sources of financing.
Beneficiary Eligibility
Eligible target markets for use of Border Initiative funds include geographic areas defined as colonias by The Cranston-Gonzalez National Afford Housing Act of 1990 (Pub. L. 101-625, Nov. 28, 1990) (the Act) and the Appropriations Act of 1997 (Pub L. 104-204, Sept. 26, 1996, 110 Stat. 2887).
Credentials/Documentation
No Credentials or documentation are required. This program is excluded from coverage under 2 CFR 200, Subpart E - Cost Principles.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.
Application Procedure
This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This initiative was funded by recaptured Rural Housing and Economic Development funds for a one time only competition.
Award Procedure
HUD will review eligible submitted applications and determine application scores. Once rating scores are assigned, rated applications will be listed in ranked order. HUD will send written notifications to both successful and unsuccessful applicants, including the lead entity of the consortium. After award, grantees will submit their action plan and budget into HUD’s web based system prior to approval to draw down. Applicants will be given the opportunity to amend their budget according to the grant award, in the event HUD awards less than the requested amount prior to entering into the grant agreement. HUD will approve the action plan(s) or notify the grantee of matters that need to be addressed prior to approval.
Deadlines
Jun 27, 2013 to Aug 26, 2013
Approval/Disapproval Decision Time
From 30 to 60 days.
Appeals
Not Applicable.
Renewals
Not Applicable.
How are proposals selected?
Two types of reviews will be conducted. First, HUD will review each application to determine whether it meets threshold eligibility requirements described in Section III.B.4. Second, HUD will review and assign scores to applications meeting the threshold requirements using the Factors for Award noted under Criteria, Section V.A of the BCCI NOFA.
Once rating scores are assigned, rated applications will be listed in ranked order. After HUD has rated and ranked the applications, applicants within the fundable range of 75 or more points will be funded in ranked order up to the amount requested, or in a lesser amount if sufficient funds are not available. HUD reserves the right to reduce the amount of the award requested. HUD has determined that geographic diversity of coverage within the U.S.-Mexico border region is an appropriate consideration in selecting grantees in this competition.
How may assistance be used?
Eligible activities include innovative housing and economic development uses, including but not limited to loan or investment capital, loan loss reserves, program staff costs, information systems, market studies, portfolio analyses and business planning. Eligible activities must support the program objectives described above. Award must be used to support the eligible activities.
What are the requirements after being awarded this opportunity?
Reporting
Grantees will be required to report to HUD, as specified in the grant agreement. Performance reports shall include reports on both performance and financial progress under action plans and shall include reports on the commitment and expenditure of leveraging resources utilized through the end of the reporting period. Reports shall conform to the reporting requirements of 24 CFR part 84 and 24 CFR part 85. Please see the BCCI NOFA published on grants.gov for full reporting requirements. The performance reports must contain the information required under 24 CFR part 84 and 24 CFR part 85, including a comparison of actual accomplishments with the objectives and performance goals of the action plans. Please see the BCCI NOFA published in FY2013 for full reporting requirements. Please see the BCCI NOFA published in FY2013 for full reporting requirements.
Auditing
In accordance with the provisions of 2 CFR 200, Subpart F - Audit Requirements, non-Federal entities that expend financial assistance of $750,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Non-Federal entities that expend less than $750,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 2 CFR 200.503.
Records
Applicants must maintain records to satisfy the reporting requirements listed above and in the BCCI NOFA.
Other Assistance Considerations
Formula and Matching Requirements
This program has no statutory formula.
This program has no matching requirements. There is no matching requirement.
MOE requirements are not applicable to this program.
Length and Time Phasing of Assistance
Awards will be available for a period of 36 months from the date of execution of the grant agreement. Method of awarding/releasing assistance: by letter of credit.
Who do I contact about this opportunity?
Regional or Local Office
None.
Headquarters Office
Thann Young Office of Rural Housing and Economic Development
U.S. Department of Housing and Urban Development
451 7th Street SW, Room 7137
, Washington DC, District of Columbia 20410 Email: thann.young@hud.gov Phone: 2024024464
Website Address
No Data Available
Financial Information
Account Identification
86-0324-0-1-604.
Obligations
(Project Grants) FY 14 $1,478,040; FY 15 est $1,478,040; and FY 16 est $0 - This is a one time program using recaptured money from the RHED program.
Range and Average of Financial Assistance
Up to $2,000,000.
Regulations, Guidelines and Literature
Not Applicable.
Examples of Funded Projects
Not Applicable.

 



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