[Federal Register Volume 77, Number 53 (Monday, March 19, 2012)]
[Notices]
[Pages 16117-16118]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-6490]


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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 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 of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Community Development Financial 
Institutions (CDFI) Fund, a wholly owned government corporation within 
the Department of the Treasury, is soliciting comments concerning the 
CDFI Program Application.

DATES: Written comments should be received on or before May 18, 2012 to 
be assured of consideration.

ADDRESSES: Direct all comments to Ruth Jaure, CDFI Program Manager, at 
the Community Development Financial Institutions Fund, U.S. Department 
of the Treasury, 601 13th Street NW., Suite 200 South, Washington, DC 
20005, by email to [email protected] or by facsimile to (202) 
622-7754. Please note this is not a toll free number.

FOR FURTHER INFORMATION CONTACT: The CDFI Program Application may be 
obtained from the CDFI Program page of the CDFI Fund's Web site at 
http://www.cdfifund.gov. Requests for additional information should be 
directed to Ruth Jaure, CDFI Program Manager, 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-
9156. Please note this is not a toll free number.

SUPPLEMENTARY INFORMATION:
    Title: CDFI Program Application.
    OMB Number: 1559-0021.
    Abstract: The Community Development Financial Institutions (CDFI) 
Program was established by the Riegle Community Development and 
Regulatory Improvement Act of 1994 to use Federal resources to invest 
in and build the capacity of CDFIs to serve low-income people and 
communities lacking adequate access to affordable financial products 
and services. Through the CDFI Program, the CDFI Fund provides: (1) 
Financial Assistance (FA) awards to CDFIs that have Comprehensive 
Business Plans for creating demonstrable community development impact 
through the deployment of credit, capital, and financial services 
within their respective Target Markets or the expansion into new 
Investment Areas, Low-Income Targeted Populations, or Other Targeted 
Populations, and (ii) Technical Assistance (TA) grants to CDFIs and 
entities proposing to become CDFIs in order to build their capacity to 
better address the community development and capital access needs of 
their existing or proposed Target Markets and/or to become certified 
CDFIs. The regulations governing the CDFI Program are found at 12 CFR 
part 1805 and provide guidance on evaluation criteria and other 
requirements of the CDFI Program.
    The questions that the application contains, and the information 
generated thereby, will enable the CDFI Fund to evaluate applicants' 
activities and determine the extent of applicants' eligibility for a 
CDFI Program award. Failure to collect this information could result in 
improper uses of Federal funds.
    Current Actions: Revision of a currently approved collection.

[[Page 16118]]

    Type of Review: Regular Review.
    Affected Public: Certified CDFIs and entities seeking CDFI 
Certification.
    Estimated Number of Respondents: 400.
    Estimated Annual Time per Respondent: 100 hours.
    Estimated Total Annual Burden Hours: 40,000.
    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 Web site at http://www.cdfifund.gov. Comments are invited on: (a) Whether the collection 
of information is necessary for the proper performance of the functions 
of the CDFI Fund, including whether the information shall have 
practical utility; (b) the accuracy of the CDFI Fund'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.
    The CDFI Fund specifically requests comments concerning the 
following questions:
    (1) Is targeting CDFI Program award funds into highly distressed 
communities an appropriate use of CDFI Program funds?
    (2) Are there ways that the fillable PDF application form can be 
improved that would ease applicant paperwork burden?
    (3) Should detailed Matching Funds documentation be collected later 
in the application review process and, if so, what would be a 
reasonable amount of time to expect an applicant to provide such 
documentation?
    (4) Does the application ask the appropriate questions to determine 
applicant's financial health and viability?

    Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713, 4717; 31 
U.S.C 321; 12 CFR part 1806.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-6490 Filed 3-16-12; 8:45 am]
BILLING CODE 4810-70-P