CDFI Fund BEA Award Program FY 2010 App Justification for No Material Change Memo

Non-substantive Change Justification Memo

Community Development Financial Institutions Fund

Bank Enterprise Award Program FY 2010 Application

OMB No.1559-0005

The Community Development Financial Institutions Fund (the CDFI Fund) is requesting approval of the non-substantive changes in the FY 2010 Bank Enterprise Award (BEA) Program application materials. The application package includes: the application and supporting tables, instructions, and supplementary guidance. Applicants are required to complete and submit an application so that the CDFI Fund can evaluate applicants for BEA Program awards allowable according to statutory and regulatory requirements (12 CFR 1806). This information is collected by the CDFI Fund once per funding round.

The PRA expiration date of the current BEA application materials is January 31, 2012. However, each year the BEA Program application materials are updated to reflect applicable deadlines and any regulations revised in the applicable funding round; these revisions are communicated to the applicants in the BEA Notice of Funds Availability (NOFA). The narrative in the FY 2010 BEA application materials was updated with the FY 2010 deadlines and to correspond to the language in the FY 2010 BEA NOFA. The FY 2010 NOFA: (1) expands the priority given to certified CDFI applicants from two to all three eligible activity categories, and (2) implements scoring priority factors that target small banks. This does not result in substantive changes to the application materials. In addition, the application was updated to reflect the elimination of one reporting requirement (submission of Distressed Community maps) which is expected to decrease the burden on applicants.

Other than the aforementioned revisions, there are no changes in the information that the applicants are required to submit and no significant changes to the collection instrument.