[Federal Register Volume 63, Number 195 (Thursday, October 8, 1998)]
[Notices]
[Pages 54188-54189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-27059]


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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund; Proposed 
Collection; Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The Department of 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 of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Community Development Financial 
Institutions Fund (the Fund) within the Department of the Treasury is 
soliciting comments concerning the Community Development Financial 
Institutions (CDFI) Program.

DATES: Written comments should be received on or before December 7, 
1998 to be assured of consideration.

ADDRESSES: Direct all comments to the Director, Community Development 
Financial Institutions Fund, U.S. Department of the Treasury, 601 13th 
Street, NW., Suite 200 South, Washington, DC 20005, Fax Number (202) 
622-7754.

FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the form(s) and 
instructions should be directed to the Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 601 13th Street, 
NW., Suite 200 South, Washington, DC 20005, or call (202) 622-8662.

SUPPLEMENTARY INFORMATION:
    Title: Community Development Financial Institutions Program.
    OMB Number: 1505-0154.
    Abstract: The purpose of the Community Development Banking and 
Financial Institutions Act of 1994 (Act) was to create the Fund to 
promote economic revitalization and community development through 
investment in and assistance to Community Development Financial 
Institutions (CDFIs). The investments by the CDFI Program are intended 
to facilitate the creation of a national network of financial 
institutions that is dedicated to community development.
    Current Actions: The Fund is in the process of modifying reporting 
requirements placed on its awardees. Currently, the Fund collects from 
its CDFI Program awardees financial and programmatic information in the 
form of quarterly and annual reports five times a year pursuant to its 
regulations. The Fund needs to collect additional data from such 
awardees to evaluate the impact of the CDFI Program and awardees. 
Congress, regulations and the Fund's statute require the Fund to 
collect impact information. The Fund is also in the process of 
developing a recertification process. Currently, CDFIs are certified 
for two years, and the initial certifications granted in 1996 will 
expire at the end of this calendar year. The collection of information 
connected with the recertification process will be a smaller collection 
than the original certification application.
    Type of review: Extension with change.
    Affected Public: Community development financial institutions.
    Estimated Number of Respondents: Core and Intermediary, 150; 
Technical Assistance, 125; Certification Only and Recertification, 135.
    Estimated Number of Recordkeepers (Core, Intermediary and Technical 
Assistance): 225.
    Estimated Annual Frequency of Responses (all applications): 1.
    Estimated Annual Frequency of Reporting and Recordkeeping (Core,

[[Page 54189]]

Intermediary and Technical Assistance): 1-6.
    Estimated Annual Time Per Respondent: Core and Intermediary, 100 
hours; Technical Assistance, 50 hours; Certification Only, 15 hours; 
Recertification, 7 hours.
    Estimated Annual Time Per Recordkeeper: 36-51 hours.
    Estimated Total Annual Burden Hours: 32,570 hours.

Requests for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments 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 to provide information.

    Authority: 12 U.S.C. 4703, 4717; chapter X, Pub.L. 104-19, 109 
Stat. 237 (12 U.S.C. 4703 note), 12 CFR part 1805.

    Dated: October 5, 1998.
Maurice A. Jones,
Deputy Director of Policy and Programs, Community Development Financial 
Institutions Fund.
[FR Doc. 98-27059 Filed 10-7-98; 8:45 am]
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