[Federal Register Volume 77, Number 111 (Friday, June 8, 2012)]
[Notices]
[Pages 34126-34127]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-13930]


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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 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, Department of the Treasury, is soliciting comments concerning 
reporting and record retention requirements for the Capital Magnet Fund 
(CMF).

DATES: Written comments should be received on or before August 7, 2012 
to be assured of consideration.

ADDRESSES: Direct all comments to Capital Magnet Fund Manager, 
Community Development Financial Institutions Fund, U.S. Department of 
the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220, by 
email to [email protected] or by facsimile to (202) 622-7754. 
This is not a toll free number.

FOR FURTHER INFORMATION CONTACT: Additional information about CMF may 
be obtained from the CMF page of the CDFI Fund's Web site at http://www.cdfifund.gov. The CMF Program Awardee Annual Report data points may 
also be obtained from the CMF Program page of the CDFI Fund's Web site. 
Requests for any additional information should be directed to John 
Moon, Program Specialist, Community Development Financial Institutions 
Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., 
Washington, DC 20220, or call (202) 622-7024. This is not a toll free 
number.

SUPPLEMENTARY INFORMATION:
    Title: Capital Magnet Fund Reporting.
    OMB Number: 1559--NEW.
    Abstract: The purpose of the Capital Magnet Fund (CMF) program is 
to competitively award grants to certified Community Development 
Financial Institutions (CDFIs) and qualified nonprofit housing 
organizations to attract and leverage other finance resources towards 
the support of affordable housing and related community development 
projects. The CMF was authorized in July of 2008 under Section 1339 of 
the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289), and 
$80 million was appropriated for this initiative under the Consolidated 
Appropriations Act of 2010 (Pub. L. 111-117). Twenty-three Awardees 
were competitively selected after a careful review of their program 
applications. These Awardees entered 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 and the overall performance of the program. The CMF Annual 
Report represents a substantially revised annual collection as compared 
to the version posted in August 2010 and it

[[Page 34127]]

incorporates prior public comments and reduced reporting burdens for 
program Awardees.
    Current Actions: New collection.
    Type of Review: Regular Review.
    Affected Public: Certified and certifiable CDFIs and qualified 
nonprofit housing organizations.
    Estimated Number of Respondents: 23.
    Estimated Annual Time per Respondent: 40 hours per year.
    Estimated Total Annual Burden Hours: 920 hours per year.
    Requests for Comments: Comments submitted in response to this 
notice as well as the prior notice of September 17, 2010, 75 FR 57107, 
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 will 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.

    Authority: Pub. L. 110-289.

    Dated: June 5, 2012.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-13930 Filed 6-7-12; 8:45 am]
BILLING CODE 4810-70-P