[Federal Register Volume 86, Number 81 (Thursday, April 29, 2021)]
[Notices]
[Pages 22791-22792]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08928]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Capital Magnet Fund Application and 
Performance Report

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments must be received on or before June 1, 2021.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

[[Page 22792]]


FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Community Development Financial Institutions Fund (CDFIF)

    Title: Capital Magnet Fund Application and Performance Report.
    OMB Control Number: 1559-0036.
    Type of Review: Revision of a currently approved collection.
    Description: The Capital Magnet Fund was established through the 
Housing and Economic Recovery Act of 2008 (Pub. L. 110-289) or HERA, as 
a competitive grant program administered by the CDFI Fund. Through CMF, 
the CDFI Fund provides financial assistance grants to Certified 
Community Development Financial Institutions (CDFIs) and qualified 
Nonprofit Organizations with the development or management of 
Affordable Housing, as defined in 12 CFR part 1807, as one of their 
principal purposes. Capitalized terms not defined in this Notice (other 
than titles) have the meaning set forth in the CMF Interim Rule (12 CFR 
part 1807). 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 are selected through a competitive process 
involving a careful review of their Application for program funding. 
The Application requires the submission of quantitative data and 
narrative responses for three parts: (1) Business and Leveraging 
Strategy, (2) Community Impact, and (3) Organizational Capacity. The 
Award selection process is defined in the Notice of Funding 
Availability (NOFA) for each funding round.
    CMF Award Recipients enter into Assistance Agreements with the CDFI 
Fund that set forth required terms and conditions of the Award, 
including reporting and data collection requirements. The Assistance 
Agreement requires the submission of an annual CMF Performance Report. 
The information collected in the CMF Performance Report is reviewed to 
ensure the Recipient's compliance with its Performance Goals and 
contractual obligations, as well as the overall performance of the 
program.
    Form: Capital Magnet Fund Application; Capital Magnet Fund Annual 
Report.
    Affected Public: Businesses or other for-profit organizations; and 
State, Local, and Tribal governments.
    Estimated Number of Respondents: 137 (Application); 291 (CMF 
Performance Report).
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 137 (Application); 291 
(CMF Performance Report).
    Estimated Time per Response: 120 hours (Application); 20 hours (CMF 
Performance Report).
    Estimated Total Annual Burden Hours: 16,440 hours (Application); 
5,820 hours (CMF Performance Report).

    Authority: 44 U.S.C. 3501 et seq.

    Dated: April 23, 2021.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2021-08928 Filed 4-28-21; 8:45 am]
BILLING CODE 4810-70-P