81_FR_35922 81 FR 35815 - Information Collection: Capital Magnet Fund Application; Capital Magnet Fund Annual Report

81 FR 35815 - Information Collection: Capital Magnet Fund Application; Capital Magnet Fund Annual Report

DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund

Federal Register Volume 81, Issue 107 (June 3, 2016)

Page Range35815-35817
FR Document2016-13122

The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act (PRA) of 1995, 44 U.S.C. 3506(c)(2)(A). Currently, the Community Development Financial Institutions (CDFI) Fund, Department of the Treasury, is soliciting comments concerning the Capital Magnet Fund (CMF) Application (hereafter, the Application) and comments concerning reporting and record retention requirements of the Capital Magnet Fund Annual Report (hereafter, Annual Report).

Federal Register, Volume 81 Issue 107 (Friday, June 3, 2016)
[Federal Register Volume 81, Number 107 (Friday, June 3, 2016)]
[Notices]
[Pages 35815-35817]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-13122]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Information Collection: Capital Magnet Fund Application; Capital 
Magnet Fund Annual Report

ACTION: Notice and request for public comment.

-----------------------------------------------------------------------

SUMMARY: The U.S. Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act (PRA) of 1995, 44 U.S.C. 3506(c)(2)(A). 
Currently, the Community Development Financial Institutions (CDFI) 
Fund, Department of the Treasury, is soliciting comments concerning the 
Capital Magnet Fund (CMF) Application (hereafter, the Application) and 
comments concerning reporting and record retention requirements of the 
Capital Magnet Fund Annual Report (hereafter, Annual Report).

DATES: Written comments must be received on or before August 2, 2016 to 
be assured of consideration.

ADDRESSES: Submit your comments via email to Marcia Sigal, CMF Program 
Manager, CDFI Fund, at [email protected].

FOR FURTHER INFORMATION CONTACT: Marcia Sigal, CMF Program Manager, 
CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue 
NW., Washington, DC 20220 (202) 653-0375 (not a toll free number). 
Other information regarding the CDFI Fund and its programs may be 
obtained through the CDFI Fund's Web site at http://www.cdfifund.gov.
    The Application may be obtained from the CMF program page of the 
CDFI Fund's Web site at https://www.cdfifund.gov/Documents/FY2016%20CMF%20Application%20Instructions_Final_Updated%203.23.2016.pdf.
 The Capital Magnet Fund Awardee Annual Report can be found at https://www.cdfifund.gov/programs-training/Programs/cmf/Pages/compliance-step.aspx#step5.

SUPPLEMENTARY INFORMATION:
    Title: Capital Magnet Fund Application; Capital Magnet Fund Annual 
Report.
    OMB Numbers: 1559-0036; 1559-0043.
    Abstract: The Capital Magnet Fund (CMF) was established through the 
Housing and Economic Recovery Act of 2008 (Pub. L. 110-289) or HERA, as 
a trust fund to be used to carry out a competitive grant program 
administered by the CDFI Fund. Through the CMF, the CDFI Fund is 
authorized to administer a competitive application process to make 
financial assistance grants to Certified Community Development 
Financial Institutions (CDFIs) and qualified Nonprofit Organizations 
that have the development or management of affordable housing as one of 
their principal purposes. CMF Awards must be used to attract private 
financing for and increase investment in (i) the Development, 
Preservation, Rehabilitation, and Purchase of Affordable Housing for 
primarily Extremely Low-, Very Low-, and Low-Income Families; and (ii) 
Economic Development Activities which, In Conjunction With Affordable 
Housing Activities will implement a Concerted Strategy to stabilize or 
revitalize a Low-Income area or an Underserved Rural Area.
    CMF Award Recipients will be competitively selected after a careful 
review of their applications for program funding. The Application 
requires the submission of information about the Applicant's track 
record, proposed pipeline, as well as data and narrative strategies for 
four main sections:

[[Page 35816]]

Business Strategy, Leveraging Strategy, Community Impact, and 
Organizational Capacity. As part of the Award selection process, the 
CDFI Fund will conduct a quantitative review and a subsequent external 
substantive review of each Application in two parts (Phase 1 and Phase 
2) as defined in a Notice of Funds Availability for each round.
    The CMF Award Recipients will enter into Assistance Agreements with 
the CDFI Fund that set forth certain required terms and conditions of 
the award, including reporting and data collection requirements. The 
Assistance Agreement requires the collection of annual reports that are 
used to collect information for compliance monitoring and program 
evaluation purposes. This information is reviewed to ensure the 
Awardee's compliance with its performance goals and contractual 
obligations as well as the overall performance of the program.
    The CDFI Fund published a Notice of Funds Availability for the 
Capital Magnet Fund on February 8, 2016 (81 Federal Register 6585). The 
NOFA provides application guidance for the FY 2016 CMF funding round. 
The CDFI Fund sought and received emergency PRA approval from Office of 
Management and Budget (OMB) for the CMF Application that is currently 
being used for the FY 2016 CMF funding round.
    This request for public comment seeks to consolidate all CMF-
related forms under OMB control number 1559-0036. Therefore, 1559-0036 
will include both the CMF Application, currently 1559-0036, and 1559-
0043 the Capital Magnet Fund Awardee Annual Report.
    Title: Capital Magnet Fund Application.
    OMB Number: 1559-0036.
    Current Actions: Renewal of existing Information Collection.
    Type of Review: Regular Review.
    Affected Public: Certified CDFIs and qualified Nonprofit 
Organizations.
    Estimated Number of Respondents: 150.
    Estimated Annual Time per Respondent: 100.
    Estimated Total Annual Burden Hours: 15,000.
    Title: Capital Magnet Fund Annual Report.
    OMB Number: 1559-0043.
    Current Actions: Reinstatement.
    Type of Review: Regular Review.
    Affected Public: Eligible Certified CDFIs and Nonprofit 
Organizations participating in CMF.
    Estimated Number of Respondents: 60.
    Estimated Annual Time per Respondent: 40 hours per year.
    Estimated Total Annual Burden Hours: 2,400 hours per year.
    Requests for Comments: Comments submitted in response to this 
notice will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record and may be published on the CDFI Fund's Web site at 
http://www.cdfifund.gov.
    The CDFI Fund is seeking input on the content of the CMF 
Application with regards to the following: (a) Whether the collection 
of information is necessary for the proper performance of the functions 
of the agency, including whether the information shall have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
collection of information; (c) ways to enhance the quality, utility, 
and clarity of the information to be collected; (d) ways to minimize 
the burden of the collection of information on respondents, including 
through the use of technology; and (e) estimates of capital or start-up 
costs and costs of operation, maintenance, and purchase of services 
required to provide information.
    Additionally, the CDFI Fund specifically requests comments 
concerning the following questions:
    (1) Is the information that is currently collected by the 
Application necessary and appropriate for the CDFI Fund to consider for 
the purpose of making award decisions?
    (2) Are there questions or tables that are redundant or 
unnecessary?
    (3) Are there questions or tables that should be added to ensure 
collection of relevant information?
    (4) CMF Awards may be used to finance Affordable Housing Activities 
(both rental and Homeownership), as well as certain Economic 
Development Activities. Is the data and information requested in the 
Application about proposed Affordable Housing Activities and Economic 
Development Activities appropriate to these different activities or 
housing tenure types?
    (5) What, if any, additional data and information should be 
collected on any of these different activities or housing tenure types?
    (6) Question 5 asks Applicants to provide the Service Areas that 
they propose to serve through CMF Awards. Do the answer options in 
Question 5 allow for sufficient flexibility to encompass the Service 
Areas in which Certified CDFIs and Non-Profit Organizations operate?
    (7) Per HERA, the CDFI Fund is required to fund CMF activities in 
geographically diverse areas of economic distress. The CDFI Fund 
publishes a list of areas of ``High Housing Need'' based on data from 
the U.S. Census as a way for Applicants to identify their intent to 
fund activities in areas of economic distress. In the FY 2016 CMF 
funding round, areas of High Housing Need are defined as census tracts 
where: (i) At least 20 percent of households are Very Low-Income 
renters paying more than half their income for rent; or (ii) are high 
poverty neighborhoods (where greater than 20 percent of households have 
incomes below the poverty rate) with a rental vacancy rate of at least 
10 percent; or (iii) are Underserved Rural Areas. What other sources of 
data or indicators could the CDFI Fund use to identify areas of high 
housing need or areas of economic distress?
    (8) How, if at all, should the CDFI Fund consider the energy 
efficiency and/or environmental impacts of properties as part of the 
Application process?
    (9) Tables A1, A2, and C1 ask for certain data that will be used to 
assess an Applicant's track record. Is the data collected in these 
three tables appropriate to assess an Applicant's track record? Is 
there other information not requested in the Application that could 
demonstrate an Applicant's track record?
    (10) Tables B2, B3, and C2 ask for certain data and information 
that will be used to assess an Applicant's projected deployment and 
production. Is the data collected in these three tables appropriate to 
assess an Applicant's projected deployment of its CMF Award and 
production? Is there other information not requested in the Application 
that would demonstrate an Applicant's projected deployment of its CMF 
Award and production?
    (11) Are there requests for data in the Application that Applicants 
(either Certified CDFIs or Non-Profit Organizations) do not have 
readily available or that are too overly burdensome to obtain and/or 
calculate (e.g., Exhibit 3 Application Financial Data)?
    (12) What data and information about an Applicant's loan portfolio 
and organizational finances should be requested in the Application in 
order to evaluate whether Applicants are in adequate financial health 
and have the capacity to successfully deploy a CMF Award?
    The CDFI Fund is also seeking input on the content of the Capital 
Magnet Fund Annual Report. The CMF Assistance Agreement requires the 
collection of annual reports that are used to collect information for 
compliance monitoring and program

[[Page 35817]]

evaluation purposes. This information is reviewed to ensure the 
Recipient's compliance with its performance goals and contractual 
obligations and the overall performance of the program. The Annual 
Report represents a revised annual information collection as compared 
to the version posted in December 2012. This information collection 
request incorporates four new fields to report funding from related 
public sources and related private sources, and funding from third-
party public sources and third-party private sources. In addition, this 
version incorporates prior public comments and technical corrections 
from current users to improve validation and reduce reporting burdens 
for program Recipients. The CDFI Fund proposes to add additional fields 
to the posted data collection instrument to show how the Applicant has 
met its Application commitment to leverage a CMF Award with the 
specified pre-investment funds. The reporting template can be viewed on 
the CDFI Fund Web site at https://www.cdfifund.gov/programs-training/Programs/cmf/Pages/compliance-step.aspx#step5. Comments concerning the 
Annual Report are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the functions of the agency, 
including whether the information shall have practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information to be collected; (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
technology; and (e) estimates of capital or start-up costs and costs of 
operation, maintenance, and purchase of services required to provide 
information.

    Authority:  Pub. L. 110-289, 12 CFR 1807.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-13122 Filed 6-2-16; 8:45 am]
 BILLING CODE 4810-70-P



                                                                                   Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices                                                    35815

                                                  railroad. To identify track owners                      installation potentially subject to FRA                      exempt from the part 225 reporting
                                                  subject to the requirements of part 237,                Bridge Safety Standards. FRA will also                       requirement to analyze risks these
                                                  Bridge Safety Standards, FRA relies on                  request insular tourist railroads, whose                     entities pose to railroad bridge safety
                                                  the railroad accident/incident reports                  tracks are supported by one or more                          and aid in planning bridge safety
                                                  (49 CFR part 225) to be filed monthly.                  bridges, to advise FRA of their existence                    oversight activities and allocating
                                                  However, plant and insular tourist                      by email. The email notification should                      resources.
                                                  railroads are exempt from the part 225,                 include the name of the installation or                        Affected Public: Freight railroads,
                                                  Railroad Accidents/Incidents: Reports                   insular tourist railroad, address                            industrial installations (plants), insular
                                                  Classification, and Investigations,                     including city and State, contact name,                      tourist railroads.
                                                  reporting requirements.                                 telephone number, and email address.                           Respondent Universe: 689 railroads,
                                                    FRA will request any railroad serving                 This survey will be ongoing with initial                     500 industrial installations (estimated),
                                                  a plant and moving railroad equipment                   approval requested for 3 years.                              20 insular tourist railroads (estimated).
                                                  over bridges within the plant, or the                      FRA desires to identify plant and                           Frequency of Submission: On
                                                  plant itself, to advise FRA by email that               insular tourist railroads that may be                        occasion.
                                                  there are railroad bridges within the                   subject to part 237 requirements, but are                      Reporting Burden:

                                                                                                                                                                      Total annual     Average time   Total annual
                                                                    CFR section                                         Respondent universe                            responses       per response   burden hours
                                                                                                                                                                        (emails)         (minutes)

                                                  Notification of Industrial Installations poten-        Railroads, Industrial Installations ...................               200               15             50
                                                    tially subject to part 237.
                                                  Notification of Insular Tourist Railroads sub-         Insular Tourist Railroads ................................             10               15            2.5
                                                    ject to part 237.



                                                    Total Responses: 210.                                 Paperwork Reduction Act (PRA) of                                Title: Capital Magnet Fund
                                                    Estimated Total Annual Burden: 53                     1995, 44 U.S.C. 3506(c)(2)(A). Currently,                    Application; Capital Magnet Fund
                                                  hours.                                                  the Community Development Financial                          Annual Report.
                                                    Type of Request: Approval of a new                    Institutions (CDFI) Fund, Department of                         OMB Numbers: 1559–0036; 1559–
                                                  information collection.                                 the Treasury, is soliciting comments                         0043.
                                                    Status: Regular Review.                               concerning the Capital Magnet Fund                              Abstract: The Capital Magnet Fund
                                                    Under 44 U.S.C. 3507(a) and 5 CFR                     (CMF) Application (hereafter, the                            (CMF) was established through the
                                                  1320.5(b) and 1320.8(b)(3)(vi), FRA                     Application) and comments concerning                         Housing and Economic Recovery Act of
                                                  informs all interested parties that FRA                 reporting and record retention                               2008 (Pub. L. 110–289) or HERA, as a
                                                  may not conduct or sponsor, and a                       requirements of the Capital Magnet                           trust fund to be used to carry out a
                                                  respondent is not required to respond                   Fund Annual Report (hereafter, Annual                        competitive grant program administered
                                                  to, a collection of information unless it               Report).                                                     by the CDFI Fund. Through the CMF,
                                                  displays a currently valid OMB control                                                                               the CDFI Fund is authorized to
                                                                                                          DATES: Written comments must be
                                                  number.                                                                                                              administer a competitive application
                                                                                                          received on or before August 2, 2016 to
                                                     Authority: 44 U.S.C. 3501–3520.                      be assured of consideration.                                 process to make financial assistance
                                                                                                                                                                       grants to Certified Community
                                                    Issued in Washington, DC, on May 31,                  ADDRESSES:  Submit your comments via
                                                  2016.
                                                                                                                                                                       Development Financial Institutions
                                                                                                          email to Marcia Sigal, CMF Program                           (CDFIs) and qualified Nonprofit
                                                  Corey Hill,                                             Manager, CDFI Fund, at                                       Organizations that have the
                                                  Executive Director.                                     cmf@cdfi.treas.gov.                                          development or management of
                                                  [FR Doc. 2016–13142 Filed 6–2–16; 8:45 am]                                                                           affordable housing as one of their
                                                                                                          FOR FURTHER INFORMATION CONTACT:
                                                  BILLING CODE 4910–06–P
                                                                                                          Marcia Sigal, CMF Program Manager,                           principal purposes. CMF Awards must
                                                                                                          CDFI Fund, U.S. Department of the                            be used to attract private financing for
                                                                                                          Treasury, 1500 Pennsylvania Avenue                           and increase investment in (i) the
                                                  DEPARTMENT OF THE TREASURY                                                                                           Development, Preservation,
                                                                                                          NW., Washington, DC 20220 (202) 653–
                                                                                                          0375 (not a toll free number). Other                         Rehabilitation, and Purchase of
                                                  Community Development Financial                                                                                      Affordable Housing for primarily
                                                  Institutions Fund                                       information regarding the CDFI Fund
                                                                                                          and its programs may be obtained                             Extremely Low-, Very Low-, and Low-
                                                                                                          through the CDFI Fund’s Web site at                          Income Families; and (ii) Economic
                                                  Information Collection: Capital Magnet
                                                                                                          http://www.cdfifund.gov.                                     Development Activities which, In
                                                  Fund Application; Capital Magnet Fund
                                                                                                                                                                       Conjunction With Affordable Housing
                                                  Annual Report                                             The Application may be obtained                            Activities will implement a Concerted
                                                                                                          from the CMF program page of the CDFI                        Strategy to stabilize or revitalize a Low-
                                                        Notice and request for public
                                                  ACTION:                                                 Fund’s Web site at https://www.
                                                  comment.                                                                                                             Income area or an Underserved Rural
                                                                                                          cdfifund.gov/Documents/FY2016%20                             Area.
                                                  SUMMARY:  The U.S. Department of the                    CMF%20Application%20Instructions_                               CMF Award Recipients will be
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                                                  Treasury, as part of its continuing effort              Final_Updated%203.23.2016.pdf. The                           competitively selected after a careful
                                                  to reduce paperwork and respondent                      Capital Magnet Fund Awardee Annual                           review of their applications for program
                                                  burden, invites the general public and                  Report can be found at https://www.                          funding. The Application requires the
                                                  other Federal agencies to take this                     cdfifund.gov/programs-training/                              submission of information about the
                                                  opportunity to comment on proposed                      Programs/cmf/Pages/compliance-step.                          Applicant’s track record, proposed
                                                  and/or continuing information                           aspx#step5.                                                  pipeline, as well as data and narrative
                                                  collections, as required by the                         SUPPLEMENTARY INFORMATION:                                   strategies for four main sections:


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                                                  35816                            Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices

                                                  Business Strategy, Leveraging Strategy,                    Estimated Total Annual Burden                       publishes a list of areas of ‘‘High
                                                  Community Impact, and Organizational                    Hours: 2,400 hours per year.                           Housing Need’’ based on data from the
                                                  Capacity. As part of the Award selection                   Requests for Comments: Comments                     U.S. Census as a way for Applicants to
                                                  process, the CDFI Fund will conduct a                   submitted in response to this notice will              identify their intent to fund activities in
                                                  quantitative review and a subsequent                    be summarized and/or included in the                   areas of economic distress. In the FY
                                                  external substantive review of each                     request for Office of Management and                   2016 CMF funding round, areas of High
                                                  Application in two parts (Phase 1 and                   Budget approval. All comments will                     Housing Need are defined as census
                                                  Phase 2) as defined in a Notice of Funds                become a matter of public record and                   tracts where: (i) At least 20 percent of
                                                  Availability for each round.                            may be published on the CDFI Fund’s                    households are Very Low-Income
                                                    The CMF Award Recipients will enter                   Web site at http://www.cdfifund.gov.                   renters paying more than half their
                                                  into Assistance Agreements with the                        The CDFI Fund is seeking input on                   income for rent; or (ii) are high poverty
                                                  CDFI Fund that set forth certain                        the content of the CMF Application                     neighborhoods (where greater than 20
                                                  required terms and conditions of the                    with regards to the following: (a)                     percent of households have incomes
                                                  award, including reporting and data                     Whether the collection of information is               below the poverty rate) with a rental
                                                  collection requirements. The Assistance                 necessary for the proper performance of                vacancy rate of at least 10 percent; or
                                                  Agreement requires the collection of                    the functions of the agency, including                 (iii) are Underserved Rural Areas. What
                                                  annual reports that are used to collect                 whether the information shall have                     other sources of data or indicators could
                                                  information for compliance monitoring                   practical utility; (b) the accuracy of the             the CDFI Fund use to identify areas of
                                                  and program evaluation purposes. This                   agency’s estimate of the burden of the                 high housing need or areas of economic
                                                  information is reviewed to ensure the                   collection of information; (c) ways to                 distress?
                                                  Awardee’s compliance with its                           enhance the quality, utility, and clarity                 (8) How, if at all, should the CDFI
                                                  performance goals and contractual                       of the information to be collected; (d)                Fund consider the energy efficiency
                                                  obligations as well as the overall                      ways to minimize the burden of the                     and/or environmental impacts of
                                                  performance of the program.                             collection of information on                           properties as part of the Application
                                                    The CDFI Fund published a Notice of                   respondents, including through the use                 process?
                                                  Funds Availability for the Capital                      of technology; and (e) estimates of                       (9) Tables A1, A2, and C1 ask for
                                                  Magnet Fund on February 8, 2016 (81                     capital or start-up costs and costs of                 certain data that will be used to assess
                                                  Federal Register 6585). The NOFA                        operation, maintenance, and purchase                   an Applicant’s track record. Is the data
                                                  provides application guidance for the                   of services required to provide                        collected in these three tables
                                                  FY 2016 CMF funding round. The CDFI                     information.                                           appropriate to assess an Applicant’s
                                                  Fund sought and received emergency                         Additionally, the CDFI Fund                         track record? Is there other information
                                                  PRA approval from Office of                             specifically requests comments                         not requested in the Application that
                                                  Management and Budget (OMB) for the                     concerning the following questions:                    could demonstrate an Applicant’s track
                                                  CMF Application that is currently being                    (1) Is the information that is currently            record?
                                                  used for the FY 2016 CMF funding                        collected by the Application necessary                    (10) Tables B2, B3, and C2 ask for
                                                  round.                                                  and appropriate for the CDFI Fund to                   certain data and information that will be
                                                    This request for public comment                       consider for the purpose of making                     used to assess an Applicant’s projected
                                                  seeks to consolidate all CMF-related                    award decisions?                                       deployment and production. Is the data
                                                  forms under OMB control number                             (2) Are there questions or tables that              collected in these three tables
                                                  1559–0036. Therefore, 1559–0036 will                    are redundant or unnecessary?                          appropriate to assess an Applicant’s
                                                  include both the CMF Application,                          (3) Are there questions or tables that              projected deployment of its CMF Award
                                                  currently 1559–0036, and 1559–0043                      should be added to ensure collection of                and production? Is there other
                                                  the Capital Magnet Fund Awardee                         relevant information?                                  information not requested in the
                                                  Annual Report.                                             (4) CMF Awards may be used to                       Application that would demonstrate an
                                                    Title: Capital Magnet Fund                            finance Affordable Housing Activities                  Applicant’s projected deployment of its
                                                  Application.                                            (both rental and Homeownership), as                    CMF Award and production?
                                                    OMB Number: 1559–0036.                                well as certain Economic Development                      (11) Are there requests for data in the
                                                    Current Actions: Renewal of existing                  Activities. Is the data and information                Application that Applicants (either
                                                  Information Collection.                                 requested in the Application about                     Certified CDFIs or Non-Profit
                                                    Type of Review: Regular Review.                       proposed Affordable Housing Activities                 Organizations) do not have readily
                                                    Affected Public: Certified CDFIs and                  and Economic Development Activities                    available or that are too overly
                                                  qualified Nonprofit Organizations.                      appropriate to these different activities              burdensome to obtain and/or calculate
                                                    Estimated Number of Respondents:                                                                             (e.g., Exhibit 3 Application Financial
                                                                                                          or housing tenure types?
                                                  150.                                                       (5) What, if any, additional data and               Data)?
                                                    Estimated Annual Time per                                                                                       (12) What data and information about
                                                                                                          information should be collected on any
                                                  Respondent: 100.                                                                                               an Applicant’s loan portfolio and
                                                    Estimated Total Annual Burden                         of these different activities or housing
                                                                                                          tenure types?                                          organizational finances should be
                                                  Hours: 15,000.
                                                    Title: Capital Magnet Fund Annual                        (6) Question 5 asks Applicants to                   requested in the Application in order to
                                                  Report.                                                 provide the Service Areas that they                    evaluate whether Applicants are in
                                                    OMB Number: 1559–0043.                                propose to serve through CMF Awards.                   adequate financial health and have the
                                                    Current Actions: Reinstatement.                       Do the answer options in Question 5                    capacity to successfully deploy a CMF
                                                                                                          allow for sufficient flexibility to                    Award?
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                                                    Type of Review: Regular Review.
                                                    Affected Public: Eligible Certified                   encompass the Service Areas in which                      The CDFI Fund is also seeking input
                                                  CDFIs and Nonprofit Organizations                       Certified CDFIs and Non-Profit                         on the content of the Capital Magnet
                                                  participating in CMF.                                   Organizations operate?                                 Fund Annual Report. The CMF
                                                    Estimated Number of Respondents:                         (7) Per HERA, the CDFI Fund is                      Assistance Agreement requires the
                                                  60.                                                     required to fund CMF activities in                     collection of annual reports that are
                                                    Estimated Annual Time per                             geographically diverse areas of                        used to collect information for
                                                  Respondent: 40 hours per year.                          economic distress. The CDFI Fund                       compliance monitoring and program


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                                                                                   Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices                                             35817

                                                  evaluation purposes. This information is                burden, invites the general public and                 underserved communities and support
                                                  reviewed to ensure the Recipient’s                      other Federal agencies to take this                    the CDFI Fund in proactively managing
                                                  compliance with its performance goals                   opportunity to comment on proposed                     regulatory compliance. Risk detection
                                                  and contractual obligations and the                     and/or continuing information                          and mitigation are crucial activities for
                                                  overall performance of the program. The                 collections, as required by the                        the long-term operation and viability of
                                                  Annual Report represents a revised                      Paperwork Reduction Act of 1995,                       the BG Program. The specified data
                                                  annual information collection as                        Public Law 104–13 (44 U.S.C.                           collection area and parameters are
                                                  compared to the version posted in                       3506(c)(2)(A)). Currently, the                         consistent with the requirements
                                                  December 2012. This information                         Community Development Financial                        contained in 12 CFR part 1808.307(b).
                                                  collection request incorporates four new                Institutions Fund (CDFI Fund), U.S.                       Current Actions: New Collection.
                                                  fields to report funding from related                   Department of the Treasury, is soliciting                 Type of Review: Regular Review.
                                                  public sources and related private                      comments concerning the Secondary                         Affected Public: Eligible CDFIs
                                                  sources, and funding from third-party                   Loan Commitment Form (SLCF) for the                    participating in the BG Program.
                                                  public sources and third-party private                  CDFI Bond Guarantee Program (BG                           Estimated Number of Respondents:
                                                  sources. In addition, this version                      Program).                                              25.
                                                  incorporates prior public comments and                                                                            Estimated Annual Time per
                                                                                                          DATES:   Written comments should be                    Respondent: 4 hours.
                                                  technical corrections from current users                received on or before August 2, 2016 to                   Estimated Total Annual Burden
                                                  to improve validation and reduce                        be assured of consideration.                           Hours: 100 hours.
                                                  reporting burdens for program
                                                                                                          ADDRESSES: Submit your comments via                       Requests for Comments: Comments
                                                  Recipients. The CDFI Fund proposes to
                                                                                                          email Lisa Jones, CDFI Bond Guarantee                  submitted in response to this notice will
                                                  add additional fields to the posted data
                                                                                                          Program Manager, at bgp@cdfi.treas.gov.                be summarized and/or included in the
                                                  collection instrument to show how the
                                                                                                          FOR FURTHER INFORMATION CONTACT: Lisa                  request for Office of Management and
                                                  Applicant has met its Application
                                                                                                          Jones, CDFI Bond Guarantee Program                     Budget approval. All comments will
                                                  commitment to leverage a CMF Award
                                                                                                          Manager, CDFI Fund, U.S. Department                    become a matter of public record and
                                                  with the specified pre-investment funds.
                                                                                                          of the Treasury, 1500 Pennsylvania                     may be published on the CDFI Fund
                                                  The reporting template can be viewed
                                                                                                          Avenue NW., Washington, DC 20220, or                   Web site at http://www.cdfifund.gov.
                                                  on the CDFI Fund Web site at https://
                                                                                                          by facsimile to (202) 508–0083 (not a                  Comments are invited on: (a) Whether
                                                  www.cdfifund.gov/programs-training/
                                                                                                          toll free number). Additional                          the collection of information is
                                                  Programs/cmf/Pages/compliance-
                                                                                                          information regarding the BG Program                   necessary for the proper performance of
                                                  step.aspx#step5. Comments concerning
                                                                                                          and the SLCF may be obtained from the                  the functions of the CDFI Fund,
                                                  the Annual Report are invited on: (a)
                                                                                                          BG Program page of the CDFI Fund’s                     including whether the information will
                                                  Whether the collection of information is
                                                                                                          Web site at http://www.cdfifund.gov/                   have practical utility; (b) the accuracy of
                                                  necessary for the proper performance of
                                                                                                          bond.                                                  the CDFI Fund’s estimate of the burden
                                                  the functions of the agency, including
                                                                                                                                                                 of the collection of information; (c) ways
                                                  whether the information shall have                      SUPPLEMENTARY INFORMATION:                             to enhance the quality, utility, and
                                                  practical utility; (b) the accuracy of the                 Title: CDFI Bond Guarantee Program                  clarity of the information to be
                                                  agency’s estimate of the burden of the                  Secondary Loan Commitment Form.                        collected; (d) ways to minimize the
                                                  collection of information; (c) ways to                     OMB Number: 1559–0044.                              burden of the collection of information
                                                  enhance the quality, utility, and clarity                  Abstract: The purpose of the BG                     on respondents, including through the
                                                  of the information to be collected; (d)                 Program is to support CDFI lending by                  use of technology; and (e) estimates of
                                                  ways to minimize the burden of the                      providing Guarantees for Bonds issued                  capital or start-up costs and costs of
                                                  collection of information on                            by Qualified Issuers as part of a Bond                 operation, maintenance, and purchase
                                                  respondents, including through the use                  Issue for Eligible Community or                        of services to provide information.
                                                  of technology; and (e) estimates of                     Economic Development Purposes. The                        The CDFI Fund specifically requests
                                                  capital or start-up costs and costs of                  BG Program provides CDFIs with a                       comments concerning the following
                                                  operation, maintenance, and purchase                    source of long-term capital and furthers               questions:
                                                  of services required to provide                         the mission of the CDFI Fund to                           (1) Does the proposed SLCF and
                                                  information.                                            increase economic opportunity and                      certification form provide clarity on the
                                                     Authority: Pub. L. 110–289, 12 CFR 1807.             promote community development                          expectations for meeting the
                                                                                                          investments for underserved                            requirements contained in 12 CFR part
                                                  Mary Ann Donovan,                                       populations and distressed communities                 1808.307(b)?
                                                  Director, Community Development Financial               in the United States. The CDFI Fund                       (2) Is there additional information or
                                                  Institutions Fund.                                      achieves its mission by promoting                      guidance that the CDFI Fund can
                                                  [FR Doc. 2016–13122 Filed 6–2–16; 8:45 am]              access to capital and local economic                   provide to clarify the commitment test
                                                  BILLING CODE 4810–70–P                                  growth by investing in, supporting, and                review process?
                                                                                                          training CDFIs.                                           (3) Does the proposed SLCF and
                                                                                                             In compliance with OMB Circular A–                  certification contain the appropriate
                                                  DEPARTMENT OF THE TREASURY                              129 and the BG Program’s interim rule                  data points to ensure that Eligible CDFIs
                                                  Community Development Financial                         (12 CFR 1808), the BG Program will                     have executed Secondary Loan
                                                  Institutions Fund; Notice and Request                   collect all necessary information to                   documents (in the form of promissory
                                                                                                          monitor compliance, manage the                         notes) with Secondary Borrowers as
mstockstill on DSK3G9T082PROD with NOTICES




                                                  for Comments
                                                                                                          portfolio effectively, and track progress              follows: (1) Not later than 12 months
                                                        Notice and request for
                                                  ACTION:                                                 towards policy goals and statutory and                 after the Bond Issue Date, Secondary
                                                  comments.                                               regulatory requirements. The proposed                  Loan documents representing at least 50
                                                                                                          SLCF will add significantly to the                     percent of such Eligible CDFI’s Bond
                                                  SUMMARY:  The U.S. Department of the                    Department of the Treasury’s review                    Loan proceeds allocated for Secondary
                                                  Treasury, as part of its continuing effort              and impact analysis on the current and                 Loans; and (2) not later than 24 months
                                                  to reduce paperwork and respondent                      proposed use of Bond Proceeds in                       after the Bond Issue Date, Secondary


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Document Created: 2018-02-08 07:29:57
Document Modified: 2018-02-08 07:29:57
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice and request for public comment.
DatesWritten comments must be received on or before August 2, 2016 to be assured of consideration.
ContactMarcia Sigal, CMF Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220 (202) 653-0375 (not a toll free number). Other information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund's Web site at http://www.cdfifund.gov.
FR Citation81 FR 35815 

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