[Federal Register Volume 81, Number 107 (Friday, June 3, 2016)]
[Notices]
[Pages 35817-35818]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13123]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund; Notice and
Request for Comments
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 Fund (CDFI Fund), U.S. Department of the Treasury, is
soliciting comments concerning the Secondary Loan Commitment Form
(SLCF) for the CDFI Bond Guarantee Program (BG Program).
DATES: Written comments should be received on or before August 2, 2016
to be assured of consideration.
ADDRESSES: Submit your comments via email Lisa Jones, CDFI Bond
Guarantee Program Manager, at [email protected].
FOR FURTHER INFORMATION CONTACT: Lisa Jones, CDFI Bond Guarantee
Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500
Pennsylvania Avenue NW., Washington, DC 20220, or by facsimile to (202)
508-0083 (not a toll free number). Additional information regarding the
BG Program and the SLCF may be obtained from the BG Program page of the
CDFI Fund's Web site at http://www.cdfifund.gov/bond.
SUPPLEMENTARY INFORMATION:
Title: CDFI Bond Guarantee Program Secondary Loan Commitment Form.
OMB Number: 1559-0044.
Abstract: The purpose of the BG 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 BG Program provides CDFIs with a source of long-term
capital and furthers 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.
In compliance with OMB Circular A-129 and the BG Program's interim
rule (12 CFR 1808), the BG Program will collect all necessary
information to monitor compliance, manage the portfolio effectively,
and track progress towards policy goals and statutory and regulatory
requirements. The proposed SLCF will add significantly to the
Department of the Treasury's review and impact analysis on the current
and proposed use of Bond Proceeds in underserved communities and
support the CDFI Fund in proactively managing regulatory compliance.
Risk detection and mitigation are crucial activities for the long-term
operation and viability of the BG Program. The specified data
collection area and parameters are consistent with the requirements
contained in 12 CFR part 1808.307(b).
Current Actions: New Collection.
Type of Review: Regular Review.
Affected Public: Eligible CDFIs participating in the BG Program.
Estimated Number of Respondents: 25.
Estimated Annual Time per Respondent: 4 hours.
Estimated Total Annual Burden Hours: 100 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 will 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) Does the proposed SLCF and certification form provide clarity
on the expectations for meeting the requirements contained in 12 CFR
part 1808.307(b)?
(2) Is there additional information or guidance that the CDFI Fund
can provide to clarify the commitment test review process?
(3) Does the proposed SLCF and certification contain the
appropriate data points to ensure that Eligible CDFIs have executed
Secondary Loan documents (in the form of promissory notes) with
Secondary Borrowers as follows: (1) Not later than 12 months after the
Bond Issue Date, Secondary Loan documents representing at least 50
percent of such Eligible CDFI's Bond Loan proceeds allocated for
Secondary Loans; and (2) not later than 24 months after the Bond Issue
Date, Secondary
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Loan documents representing 100 percent of such Eligible CDFI's Bond
Loan proceeds allocated for Secondary Loans?
Authority: 12 CFR part 1808.
Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-13123 Filed 6-2-16; 8:45 am]
BILLING CODE 4810-70-P