Reinstatement with change of a previously approved collection
No
Regular
09/28/2023
Requested
Previously Approved
36 Months From Approved
990
0
77,944
0
0
0
Pursuant to the Riegle Community
Development Banking and Financial Institutions Act of 1994, as
amended (the Act, 12 USC 4701 et seq.), the Community Development
Financial Institutions (CDFI) Program provides financial and
technical assistance to selected Applicants and Community
Development Financial Institutions (CDFIs) in order to enhance
their ability to make loans and investments and provide services
for the benefit of designated Investment Areas and Targeted
Populations.
US Code:
12
USC 4703 Name of Law: Establishment of National Fund for
Community Development Banking
US Code: 12
USC 4701 Name of Law: Community Development Banking and
Financial Institutions Act of 1994
The CDFI TA Program has not
materially changed and the TA Application is substantially similar
to what was approved in 2020, for FY 2020-22. The CDFI Fund refined
narrative questions in the TA Application to align more closely
with the recent changes to the CDFI Certification requirements. The
FA Program has not materially changed, and the FA Program
Applications are substantially similar to what was approved in
2020, for FY 2020-22. The CDFI Fund made the following changes to
the proposed FY 2023-25 Base-FA Program Application: 1) eliminated
one narrative question, several financial input fields and
statewide portfolio data fields, 2) refined narrative questions for
clarity, and 3) simplified the selection of FA Objectives. No
changes were made to the supplemental FA Applications. It is not
anticipated that these changes will increase nor decrease the total
burden hours per Application from the FY 2022 funding round. Total
burden hours requested for this submission is 77,944 (55,759 for
FA, plus 22,185 hours for TA). The estimate for FY 2023-25 is
higher than the previous total Application burden hours cleared in
FY 2020 for the FY 2020-22 Applications (50,000 hours), due to an
additional 161 TA Applicants and an additional 19 FA Applications
(including supplemental FA Applications), based on the actual
number of Applications received by the CDFI Fund in FY 2022.The
estimated average amount of time to complete the Applications also
increased. The CDFI Fund updated the estimated hours to complete an
Application to more accurately reflect recent self-reported time
estimates provided by Applicants. In addition, since the last PRA
approval, there have been many new Applicants to the CDFI/NACA
Program. It is reasonable to assume that first-time Applicants may
take longer to complete an Application, thus, contributing to the
increase in the reported time by Applicants to complete an
Application.
$2,031,995
No
No
No
No
No
No
No
Pooja Patel 202 664-7634
patelp@cdfi.treas.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.