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Catalog of Federal Domestic Assistance

Program Descriptions

CATALOG OF FEDERAL DOMESTIC ASSISTANCE

11.415: Fisheries Finance Program

Objectives: Provides direct loans for certain fisheries costs. Vessel financing available for the purchase of used vessels or the reconstruction of vessels (limited to reconstructions that do not add to fishing capacity). Refinancing available for existing debt obligations. FFP loans are not issued for purposes which could contribute to over capitalization of the fishing industry. Finance or refinance fisheries shore side facilities or Aqua cultural facilities. Provides Individual Fishing Quota (IFQ) financing (at the request of a Fishery Management Council). IFQ financing available at this time to first time purchasers and small vessel operators in the Halibut Sablefish fisheries. Provides financing for Community Development Quota groups fisheries investments in the Bering Sea Aleutian Islands Pollock fishery. Provides long term fishery buy back financing (at the request of a Fishery Management Council or Governor) to purchase and retire fishing permis and/or fishing vessels in overcapitalized fisheries.

PROGRAM AND AWARD FINANCIAL AND INFORMATION CONTACTS

ELIGIBILITY REQUIREMENTS FINANCIAL AND ADMINISTRATIVE INFO.

APPLICATION AND AWARD PROCESS INFORMATION CONTACTS

RELATED PROGRAMS ASSISTANCE CONSIDERATIONS

PROGRAM ACCOMPLISHMENTS POST ASSISTANCE REQUIREMENTS

11.415 ELIGIBILITY REQUIREMENTS:

Applicant Eligibility: Applicant must possess the ability, experience, financial resources, and other qualifications necessary to operate successfully and repay the debt.

Beneficiary Eligibility: Commercial fishermen, processors or distributors of fishery products.

Credentials/Documentation: Financial statements, records, business history, and tax returns.

11.415 APPLICATION AND AWARD PROCESS:

Preapplication Coordination: This program is excluded from coverage under E.O. 12372.

Application Procedure: Not applicable.

Award Procedure: Not applicable.

Deadlines: None.

Range of Approval/Disapproval Time: Not applicable.

Appeals: Not applicable.

Renewals: Not applicable.

Criteria for Selecting Proposals: Not applicable.

Examples of Funded Projects: Not applicable.

Range and Average of Financial Assistance: $10,000 to $100,000,000; $1,000,000.

11.415 RELATED PROGRAMS:

None.

11.415 PROGRAM ACCOMPLISHMENTS:

There were 20 direct loans for $23,800,000 issued in fiscal year 1999. Fiscal year 2000, estimated 20 direct loans for $23,700,000. (IFQ) There were 40 loans for $5,000,000 issued in fiscal year 1999; fiscal year 2000, estimated 40 loans for $5,000,000. (Buyback) There were two buyback loans for $175,000,000 issued in fiscal year 1999; fiscal year 2000 estimate, one loan for $100,000,000; (CDQ) fiscal year 1999, three loans for $25,000,000, fiscal year 2000 estimate (no committed loan authority at this point).

11.415 FINANCIAL AND ADMINISTRATIVE INFO:

Federal Agency: NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE

Type of Assistance: Direct Loans.

Obligations: (Direct loans) FY 99 $23,800,000; FY 00 est $23,700,000; and FY 01 est $23,700,000. (IFQ financing) FY 99 $5,000,000; FY 00 est $5,000,000; and FY 01 est (no committed loan authority at this point). (CDQ financing) FY 99 $25,000,000; FY 00 est $0; and FY 01 est (no committed loan authority at this point). (Buyback financing) FY 99 $175,000,000; FY 00 est $0; and FY 01 est (no committed loan authority at this point).

Budget Account Number: 13-4417-0-3-376.

Authorization: 46 U.S.C. 1271 et seq.

Regulations, Guidelines, and Literature: 50 CFR 253.

11.415 INFO CONTACTS:

Regional or Local Office: Chief, Financial Services Division, National Marine Fisheries Service as listed in Appendix IV of the Catalog.

Headquarters Office: Chief, Financial Services Division, National Marine Fisheries Service, Department of Commerce, 1315 East-West Highway, Silver Spring, MD 20910. Phone: (301) 713-2390. Use the same number for FTS. Fax: (301) 713-1306.

(See Appendix IV for more contact info.)

11.415 ASSISTANCE CONSIDERATIONS:

Formula and Matching Requirements: Not applicable.

Length and Time Phasing of Assistance: Maximum term is 25 years. Financing based on the economic useful life of the asset financed.

Uses and Use Restrictions: Direct loans for up to 80 percent of actual cost, for reconstruction or reconditioning of fishing vessels and renovation, repair or construction of fisheries shore side facilities (including aquaculture facilities). Maximum maturity up to 25 years. Funds from this program are not used for purposes which contribute to over capitalization of the fishing industry.

11.415 POST ASSISTANCE REQUIREMENTS:

Reports: Annual Financial Statements and associated financial information as needed.

Audits: In accordance with the provisions of OMB Circular No. A-133 (Revised, June 24, 1997), recipients that are States, Local Governments, Non-profit Organizations (to include Hospitals), and Institutions of Higher Learning shall be subject to the audit requirements contained in the Single Audit Act Amendments of 1996 (31 U.S.C. 7501-7507). Commercial organizations shall be subject to the audit requirements as stipulated in the award document.

Records: Agency has the right to inspect all relevant financial documents and records.