[Federal Register Volume 78, Number 208 (Monday, October 28, 2013)]
[Notices]
[Pages 64292-64293]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-25318]


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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, Department of the Treasury, is soliciting 
comments concerning the Qualified Issuer Application, the Guarantee 
Application, and the Secondary Loan Requirements for the Community 
Development Financial Institutions (CDFI) Bond Guarantee Program.

DATES: Written comments should be received on or before December 27, 
2013 to be assured of consideration.

ADDRESSES: Direct all comments to Lisa Jones, CDFI Bond Guarantee 
Program Manager, at the Community Development Financial Institutions 
Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., 
Washington, DC 20020 by email to [email protected] or by facsimile to 
(202) 508-0083. Please note this is not a toll free number.

FOR FURTHER INFORMATION CONTACT: The applications for the CDFI Bond 
Guarantee Program, as well as the Secondary Loan Requirements, may be 
obtained from the CDFI Bond Guarantee Program page of the CDFI Fund's 
Web site at http://www.cdfifund.gov. Requests for additional 
information should be directed to Lisa Jones, CDFI Bond Guarantee 
Program Manager, at the Community Development Financial Institutions 
Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., 
Washington, DC 20020 by email to [email protected] or by facsimile to 
(202) 508-0083. Please note this is not a toll free number.

SUPPLEMENTARY INFORMATION:
    Title: CDFI Bond Guarantee Program Qualified Issuer Application, 
Guarantee Application, and Secondary Loan Requirements.
    OMB Number: 1559-0044.
    Abstract: The purpose of the CDFI Bond Guarantee Program is to 
support CDFI lending by providing Guarantees for Bonds issued by 
Qualified Issuers as part of a Bond Issue for Eligible Community or 
Economic Development Purposes. The CDFI Bond Guarantee Program provides 
CDFIs with a new source of long-term capital and further the mission of 
the CDFI Fund to increase economic opportunity and promote community 
development investments for underserved populations and distressed 
communities in the United States. The CDFI Fund achieves its mission by 
promoting access to capital and local economic growth by investing in, 
supporting, and training CDFIs.
    Under the CDFI Bond Guarantee Program, an applicant apply to be 
approved as a Qualified Issuer (QI) by completing and submitting the 
Qualified Issuer Application (QI Application). A Qualified Issuer must 
submit a Guarantee Application in order to be approved for a Guarantee 
under the program. Applicants are required to provide financial and 
program related information and, subject to approval, will enter into 
agreements that require the collection of reports that will be used for 
credit underwriting, compliance monitoring and program evaluation 
purposes. The application information is required in order for program 
management to evaluate an applicant's capacity to effectively execute 
its obligations under the Bond Documents.
    Compliance with the Secondary Loan Requirements is required for an 
Eligible CDFI to make a Secondary Loan through the program. It is by 
attesting to the Secondary Loan Requirements that the Eligible CDFI 
demonstrates and makes representations with regard to its 
organizational competence in the evaluation and underwriting of the 
operational and financial requirements of the proposed projects to 
which it desires to provide financial support using bond loan proceeds.
    Current Actions: Revision of a currently approved collection.
    Type of Review: Regular Review.
    Affected Public: Certified CDFIs and entities seeking to become 
Qualified Issuers.
    Estimated Number of Qualified Issuer Respondents: 20.
    Estimated Annual Time per Qualified Issuer Respondent: 240 hours.
    Estimated Number of Guarantee Application Respondents: 50.
    Estimated Annual Time per Guarantee Application Respondent: 50 
hours.
    Estimated Number of Secondary Loan Requirement Respondents: 20.

[[Page 64293]]

    Estimated Annual Time per Secondary Loan Requirement Respondent: 
50.
    Estimated Total Annual Burden Hours: 8,300 hours.
    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) Are the revised drafts of the Qualified Issuer Application and 
Guarantee Application clearer and more streamlined than the 
applications used for the FY 2013 round?
    (2) Is there additional information or instructions that the CDFI 
Fund should provide to clarify the application process?
    (3) Are there additional or alternative data that the CDFI Fund 
should request in order to consider different institution types that 
may be eligible to serve as Qualified Issuers?
    (4) Do the Qualified Issuer Application and Guarantee Application 
ask the appropriate questions to determine an applicant's financial 
health and viability?
    (5) Are there additional asset classes that should be included for 
purposes of Secondary Loan Requirements?
    (6) How should the Secondary Loan Requirements be modified to 
reduce the burden of program participation?

    Authority: 12 U.S.C. 1834a, 4703, 4703 note, 4713, 4717; 31 
U.S.C. 321; 12 CFR part 1808.

    Dated: October 23, 2013.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-25318 Filed 10-25-13; 8:45 am]
BILLING CODE 4810-70-P