FY2010 Financial Education and Counseling (FEC) Pilot Program Application for Hawaii Applicants

Forms and Documents

Document Name	Status
Form CDFI Form 0034 FEC Pilot Program FY 2010 Application for Hawaii Applicants Form and Instruction	New
SS_2010_FEC_App_Hawaii.doc Supporting Statement A	2010-04-22

IC Document Collections

IC ID	Document Title	Status
192639	FEC Pilot Program FY 2010 Application for Hawaii Applicants Form and Instruction	New

ICR Details

OMB Control No: 1559-0038	ICR Reference No: 201004-1559-004
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: FY2010 Financial Education and Counseling (FEC) Pilot Program Application for Hawaii Applicants
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 04/30/2010
OIRA Conclusion Action: Approved without change	Conclusion Date: 05/13/2010
	Date Received in OIRA: 04/22/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2010	6 Months From Approved
Responses	10	0	0
Time Burden (Hours)	400	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FEC Pilot Program was authorized in July of 2008 under Section 1132 of the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289), and in March of 2009, $2 million was appropriated for this program’s inaugural funding round under the Omnibus Appropriations Act of 2009 (Pub. L. 111-8). In December, 2009, $4.15 million was appropriated for this program’s second funding round under the Consolidated Appropriations Act of 2010 (Pub. L. 111-117) of which $3.15 million must be awarded to a single awardee headquartered in Hawaii. The attached application will be used to solicit applications only from eligible organizations headquartered in the State of Hawaii that provide financial education and counseling services to prospective homebuyers located in the State of Hawaii. The remaining $1 million will be awarded to two to three applicants that applied under the FY 2009 funding round for the national program, but were not successful in the inaugural round.

Emergency Justfication: The Community Development Financial Institutions (CDFI) Fund is requesting emergency Paperwork Reduction Act (PRA) clearance of the FY 2010 Financial Education and Counseling (FEC) Pilot Program Application for Hawaii Applicants. The attached document includes the application, required table, and instructions. The FEC Pilot Program was authorized in July of 2008 under Section 1132 of the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289), and in March of 2009, $2 million was appropriated for this program’s inaugural funding round under the Omnibus Appropriations Act of 2009 (Pub. L. 111-8). In December, 2009, $4.15 million was appropriated for this program’s second funding round under the Consolidated Appropriations Act of 2010 (Pub. L. 111-117) of which $3.15 million must be awarded to a single awardee headquartered in Hawaii. The attached application will be used to solicit applications only from eligible organizations headquartered in the State of Hawaii that provide financial education and counseling services to prospective homebuyers located in the State of Hawaii. The remaining $1 million will be awarded to two to three applicants that applied under the FY 2009 funding round for the national program, but were not successful in the inaugural round. In order to announce the availability of funds for the FY 2010 program prior to the end of the fiscal year, it is critical that the normal PRA clearance process be waived with respect to the FY 2010 funding round. It is the goal of the CDFI Fund to publish the FY 2010 FEC Pilot Program Notice of Funds Availability and application by May 1, 2010. The application due date is June 3, 2010, and the CDFI Fund anticipates announcing the award recipient by September of 2010. The pool of applicants submitted applications using this form for the FY 2010 FEC Pilot Program is anticipated to be very small because the program is limited geographically to Hawaii for the $3.15 million available in FY 2010. The CDFI Fund anticipates that approximately ten new FY 2010 FEC Pilot Program applications will be submitted in consideration for the $3.15 million dedicated to applicants from the State of Hawaii, and only one award is permitted to go to an organization serving the prospective homebuyers of Hawaii. The total hour burden of this information collection is estimated to be 40 hours per applicant. Given the low number of expected new applicants, and the fact that a FEC Pilot Program for applicants headquartered in the State of Hawaii may only be administered for this single fiscal year, the CDFI Fund would not expect a full PRA process to yield any revisions to the existing materials. The FY 2011 President’s Budget did not include funding for an FY 2011 FEC Pilot Program round. However, in order to remain prepared in the event that funding is appropriated for the FEC Pilot Program in FY 2011 or thereafter, the CDFI Fund is currently seeking approval under the standard PRA clearance process for the FEC Pilot Program application (OMB No. 1559-0034) that was used in the inaugural round. Public comments on that application, solicited under the 60-day PRA public comment period ends April 26, 2010. No comments have been received to date.

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Authorizing Statute(s): PL: Pub.L. 110 - 289 1132 Name of Law: Housing and Economic Recovery Act of 2008
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FEC Pilot Program FY 2010 Application for Hawaii Applicants	CDFI Form 0034	Financial Education and Counseling Pilot Program FY 2010 Application for Hawaii Applicants

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	10	0	0	10	0	0
Annual Time Burden (Hours)	400	0	0	400	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new, one-time collection of information with the 400 hours being attributed to program change.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Yes

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 04/22/2010

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