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Catalog of Federal Domestic Assistance

Program Descriptions

21.021:  Bank Enterprise Award Program

Popular Name:  BEA

Objectives:  To encourage insured depository institutions to increase their level of community development activities in the form of loans, investments, services and technical assistance within distressed communities and to provide assistance to community development financial institution's through grants, stock purchases, loans, deposits and other forms of financial and technical assistance. The program rewards participating insured depository institutions for increasing their activities in economically distressed communities and investing in community development financial institutions.

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

21.021 ELIGIBILITY REQUIREMENTS:

Applicant Eligibility:  Profit Organization and Other Private Institution/Organization in the form of insured depository institutions.

Beneficiary Eligibility:  Profit Organization and Other Private Institution/Organization in the form of insured depository institutions.

Credentials/Documentation:  An applicant must submit a copy of its certificate of insurance issued by the Federal Deposit Insurance Corporation.

21.021 APPLICATION AND AWARD PROCESS:

Preapplication Coordination:  None. This program is excluded from coverage under E.O. 12372 and OMB Circular No. A-102.

Application Procedure:  Each applicant must complete a Bank Enterprise Award Application package. This program follows OMB Circular No. A-110 guidance.

Award Procedure:  Applications are reviewed and grant awardees are selected by the Community Development Financial Institutions Fund.

Deadlines:  The annual Notice of Funds Availability published in the Federal Register announces deadline dates for submission of applications for this program. Deadline dates generally range from 30 to 90 days subsequent to the notice publication.

Range of Approval/Disapproval Time:  Generally, 9 to 12 months.

Appeals:  None.

Renewals:  None.

Criteria for Selecting Proposals:  Award recipients are selected based upon a priority ranking of qualified activities. Qualified activities include, in order of importance, the following: (1) Community Development Financial Institution Related Activities; and, (2) Development and Service Activities.

Examples of Funded Projects:  The Bank Enterprise Award recipients issued more than $58 million in new loans to finance multi-family housing in distressed communities around the nation. In addition, recipients made available nearly $83 million for new loans, investments, financial services and technical assistance in economically distressed communities.

Range and Average of Financial Assistance:  $1,100 to $2,500,000; $72,875.

21.021 RELATED PROGRAMS:

• 21.020 Community Development Financial Institutions Program.

21.021 PROGRAM ACCOMPLISHMENTS:

For fiscal year 1998, 79 awards were issued.

21.021 FINANCIAL AND ADMINISTRATIVE INFO:

Federal Agency:  U.S. DEPARTMENT OF TREASURY, UNDER SECRETARY FOR DOMESTIC FINANCE, COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND

Type of Assistance:  Project Grants.

Obligations:  (Grants) FY 99 $32,000,000; FY 00 est $30,000,000 and FY 01 est $40,000,000.

Budget Account Number:  20-1881-0-1-451.

Authorization:  Public Law 103-325, 12 U.S.C. 1834a; 12 U.S.C. 4713.

Regulations, Guidelines, and Literature:  12 CFR Part 1806, Revised Interim Rule, published in the December 5, 1997 issue of the Federal Register. Bank Enterprise Award Program Application Package.

21.021 INFO CONTACTS:

Regional or Local Office:  Not applicable.

Headquarters Office:  U.S. Department of Treasury, Community Development Financial Institutions Fund, 601 13th Street, NW., Suite 200 South, Washington, DC, 20005. ATTN: Awards Manager. Phone: (202) 622-8662. Fax: (202) 622-7754.

(See Appendix IV for more contact info.)

21.021 ASSISTANCE CONSIDERATIONS:

Formula and Matching Requirements:  None.

Length and Time Phasing of Assistance:  Awards are issued on a percentage reimbursement basis for selected and approved activity increases under this program.

Uses and Use Restrictions:  Under this program, awards are issued to selected applicants that: (1) Invest in or otherwise support Community Development Financial Institutions; (2) Increase lending and investment activities within Distressed Communities; and/or (3) Increase the provision of certain services and technical assistance within Distressed Communities. Awards are based upon a percentage of the increases in qualifying activities that are carried out by the applicant between an established Baseline Period and Assessment Period. This information is announced in the annual notice of funds availability published in the Federal Register. No award under this program will be issued if the applicant has: an application pending under the Community Development Financial Institutions (CDFI) Program, received assistance under the CDFI Program within the preceding 12-month period, or ever received assistance under the CDFI Program for the same activities for which it is seeking a Bank Enterprise Award. Only banks or savings associations the deposits of which are issued by the Federal Deposit Insurance Corporation may apply for an award under this program.

21.021 POST ASSISTANCE REQUIREMENTS:

Reports:  The schedule of reports is arranged during the pre-award negotiation stage.

Audits:  Costs incurred for awards issued as part of this program are subject to audit in accordance with the award terms and conditions.

Records:  Award recipients must maintain records to substantiate all award costs incurred and to assure that all performance measures are met. Records will be retained in accordance with the provisions of 12 CFR Part 1806 and OMB Circular No. A-110.