Request for Public Comment - Capital Magnet Fund

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Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices
railroad. To identify track owners
subject to the requirements of part 237,
Bridge Safety Standards, FRA relies on
the railroad accident/incident reports
(49 CFR part 225) to be filed monthly.
However, plant and insular tourist
railroads are exempt from the part 225,
Railroad Accidents/Incidents: Reports
Classification, and Investigations,
reporting requirements.
FRA will request any railroad serving
a plant and moving railroad equipment
over bridges within the plant, or the
plant itself, to advise FRA by email that
there are railroad bridges within the

exempt from the part 225 reporting
requirement to analyze risks these
entities pose to railroad bridge safety
and aid in planning bridge safety
oversight activities and allocating
resources.
Affected Public: Freight railroads,
industrial installations (plants), insular
tourist railroads.
Respondent Universe: 689 railroads,
500 industrial installations (estimated),
20 insular tourist railroads (estimated).
Frequency of Submission: On
occasion.
Reporting Burden:
Total annual
responses
(emails)

Average time
per response
(minutes)

Total annual
burden hours

CFR section

Respondent universe

Notification of Industrial Installations potentially subject to part 237.
Notification of Insular Tourist Railroads subject to part 237.

Railroads, Industrial Installations ...................

200

15

50

Insular Tourist Railroads ................................

10

15

2.5

Total Responses: 210.
Estimated Total Annual Burden: 53
hours.
Type of Request: Approval of a new
information collection.
Status: Regular Review.
Under 44 U.S.C. 3507(a) and 5 CFR
1320.5(b) and 1320.8(b)(3)(vi), FRA
informs all interested parties that FRA
may not conduct or sponsor, and a
respondent is not required to respond
to, a collection of information unless it
displays a currently valid OMB control
number.
Authority: 44 U.S.C. 3501–3520.
Issued in Washington, DC, on May 31,
2016.
Corey Hill,
Executive Director.

FOR FURTHER INFORMATION CONTACT:

DEPARTMENT OF THE TREASURY
Community Development Financial
Institutions Fund
Information Collection: Capital Magnet
Fund Application; Capital Magnet Fund
Annual Report
Notice and request for public
comment.

ACTION:

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

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Written comments must be
received on or before August 2, 2016 to
be assured of consideration.

DATES:

Submit your comments via
email to Marcia Sigal, CMF Program
Manager, CDFI Fund, at
[email protected].

BILLING CODE 4910–06–P

SUMMARY:

Paperwork Reduction Act (PRA) of
1995, 44 U.S.C. 3506(c)(2)(A). Currently,
the Community Development Financial
Institutions (CDFI) Fund, Department of
the Treasury, is soliciting comments
concerning the Capital Magnet Fund
(CMF) Application (hereafter, the
Application) and comments concerning
reporting and record retention
requirements of the Capital Magnet
Fund Annual Report (hereafter, Annual
Report).

ADDRESSES:

[FR Doc. 2016–13142 Filed 6–2–16; 8:45 am]

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installation potentially subject to FRA
Bridge Safety Standards. FRA will also
request insular tourist railroads, whose
tracks are supported by one or more
bridges, to advise FRA of their existence
by email. The email notification should
include the name of the installation or
insular tourist railroad, address
including city and State, contact name,
telephone number, and email address.
This survey will be ongoing with initial
approval requested for 3 years.
FRA desires to identify plant and
insular tourist railroads that may be
subject to part 237 requirements, but are

Marcia Sigal, CMF Program Manager,
CDFI Fund, U.S. Department of the
Treasury, 1500 Pennsylvania Avenue
NW., Washington, DC 20220 (202) 653–
0375 (not a toll free number). Other
information regarding the CDFI Fund
and its programs may be obtained
through the CDFI Fund’s Web site at
http://www.cdfifund.gov.
The Application may be obtained
from the CMF program page of the CDFI
Fund’s Web site at https://www.
cdfifund.gov/Documents/FY2016%20
CMF%20Application%20Instructions_
Final_Updated%203.23.2016.pdf. The
Capital Magnet Fund Awardee Annual
Report can be found at https://www.
cdfifund.gov/programs-training/
Programs/cmf/Pages/compliance-step.
aspx#step5.
SUPPLEMENTARY INFORMATION:

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Title: Capital Magnet Fund
Application; Capital Magnet Fund
Annual Report.
OMB Numbers: 1559–0036; 1559–
0043.
Abstract: The Capital Magnet Fund
(CMF) was established through the
Housing and Economic Recovery Act of
2008 (Pub. L. 110–289) or HERA, as a
trust fund to be used to carry out a
competitive grant program administered
by the CDFI Fund. Through the CMF,
the CDFI Fund is authorized to
administer a competitive application
process to make financial assistance
grants to Certified Community
Development Financial Institutions
(CDFIs) and qualified Nonprofit
Organizations that have the
development or management of
affordable housing as one of their
principal purposes. 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 LowIncome Families; and (ii) Economic
Development Activities which, In
Conjunction With Affordable Housing
Activities will implement a Concerted
Strategy to stabilize or revitalize a LowIncome area or an Underserved Rural
Area.
CMF Award Recipients will be
competitively selected after a careful
review of their applications for program
funding. The Application requires the
submission of information about the
Applicant’s track record, proposed
pipeline, as well as data and narrative
strategies for four main sections:

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Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices

Business Strategy, Leveraging Strategy,
Community Impact, and Organizational
Capacity. As part of the Award selection
process, the CDFI Fund will conduct a
quantitative review and a subsequent
external substantive review of each
Application in two parts (Phase 1 and
Phase 2) as defined in a Notice of Funds
Availability for each round.
The CMF Award Recipients will enter
into Assistance Agreements with the
CDFI Fund that set forth certain
required terms and conditions of the
award, including reporting and data
collection requirements. The Assistance
Agreement requires the collection of
annual reports that are used to collect
information for compliance monitoring
and program evaluation purposes. This
information is reviewed to ensure the
Awardee’s compliance with its
performance goals and contractual
obligations as well as the overall
performance of the program.
The CDFI Fund published a Notice of
Funds Availability for the Capital
Magnet Fund on February 8, 2016 (81
Federal Register 6585). The NOFA
provides application guidance for the
FY 2016 CMF funding round. The CDFI
Fund sought and received emergency
PRA approval from Office of
Management and Budget (OMB) for the
CMF Application that is currently being
used for the FY 2016 CMF funding
round.
This request for public comment
seeks to consolidate all CMF-related
forms under OMB control number
1559–0036. Therefore, 1559–0036 will
include both the CMF Application,
currently 1559–0036, and 1559–0043
the Capital Magnet Fund Awardee
Annual Report.
Title: Capital Magnet Fund
Application.
OMB Number: 1559–0036.
Current Actions: Renewal of existing
Information Collection.
Type of Review: Regular Review.
Affected Public: Certified CDFIs and
qualified Nonprofit Organizations.
Estimated Number of Respondents:
150.
Estimated Annual Time per
Respondent: 100.
Estimated Total Annual Burden
Hours: 15,000.
Title: Capital Magnet Fund Annual
Report.
OMB Number: 1559–0043.
Current Actions: Reinstatement.
Type of Review: Regular Review.
Affected Public: Eligible Certified
CDFIs and Nonprofit Organizations
participating in CMF.
Estimated Number of Respondents:
60.
Estimated Annual Time per
Respondent: 40 hours per year.

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Estimated Total Annual Burden
Hours: 2,400 hours per year.
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’s
Web site at http://www.cdfifund.gov.
The CDFI Fund is seeking input on
the content of the CMF Application
with regards to the following: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’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 required to provide
information.
Additionally, the CDFI Fund
specifically requests comments
concerning the following questions:
(1) Is the information that is currently
collected by the Application necessary
and appropriate for the CDFI Fund to
consider for the purpose of making
award decisions?
(2) Are there questions or tables that
are redundant or unnecessary?
(3) Are there questions or tables that
should be added to ensure collection of
relevant information?
(4) CMF Awards may be used to
finance Affordable Housing Activities
(both rental and Homeownership), as
well as certain Economic Development
Activities. Is the data and information
requested in the Application about
proposed Affordable Housing Activities
and Economic Development Activities
appropriate to these different activities
or housing tenure types?
(5) What, if any, additional data and
information should be collected on any
of these different activities or housing
tenure types?
(6) Question 5 asks Applicants to
provide the Service Areas that they
propose to serve through CMF Awards.
Do the answer options in Question 5
allow for sufficient flexibility to
encompass the Service Areas in which
Certified CDFIs and Non-Profit
Organizations operate?
(7) Per HERA, the CDFI Fund is
required to fund CMF activities in
geographically diverse areas of
economic distress. The CDFI Fund

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publishes a list of areas of ‘‘High
Housing Need’’ based on data from the
U.S. Census as a way for Applicants to
identify their intent to fund activities in
areas of economic distress. In the FY
2016 CMF funding round, areas of High
Housing Need are defined as census
tracts where: (i) At least 20 percent of
households are Very Low-Income
renters paying more than half their
income for rent; or (ii) are high poverty
neighborhoods (where greater than 20
percent of households have incomes
below the poverty rate) with a rental
vacancy rate of at least 10 percent; or
(iii) are Underserved Rural Areas. What
other sources of data or indicators could
the CDFI Fund use to identify areas of
high housing need or areas of economic
distress?
(8) How, if at all, should the CDFI
Fund consider the energy efficiency
and/or environmental impacts of
properties as part of the Application
process?
(9) Tables A1, A2, and C1 ask for
certain data that will be used to assess
an Applicant’s track record. Is the data
collected in these three tables
appropriate to assess an Applicant’s
track record? Is there other information
not requested in the Application that
could demonstrate an Applicant’s track
record?
(10) Tables B2, B3, and C2 ask for
certain data and information that will be
used to assess an Applicant’s projected
deployment and production. Is the data
collected in these three tables
appropriate to assess an Applicant’s
projected deployment of its CMF Award
and production? Is there other
information not requested in the
Application that would demonstrate an
Applicant’s projected deployment of its
CMF Award and production?
(11) Are there requests for data in the
Application that Applicants (either
Certified CDFIs or Non-Profit
Organizations) do not have readily
available or that are too overly
burdensome to obtain and/or calculate
(e.g., Exhibit 3 Application Financial
Data)?
(12) What data and information about
an Applicant’s loan portfolio and
organizational finances should be
requested in the Application in order to
evaluate whether Applicants are in
adequate financial health and have the
capacity to successfully deploy a CMF
Award?
The CDFI Fund is also seeking input
on the content of the Capital Magnet
Fund Annual Report. The CMF
Assistance Agreement requires the
collection of annual reports that are
used to collect information for
compliance monitoring and program

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Federal Register / Vol. 81, No. 107 / Friday, June 3, 2016 / Notices
evaluation purposes. This information is
reviewed to ensure the Recipient’s
compliance with its performance goals
and contractual obligations and the
overall performance of the program. The
Annual Report represents a revised
annual information collection as
compared to the version posted in
December 2012. This information
collection request incorporates four new
fields to report funding from related
public sources and related private
sources, and funding from third-party
public sources and third-party private
sources. In addition, this version
incorporates prior public comments and
technical corrections from current users
to improve validation and reduce
reporting burdens for program
Recipients. The CDFI Fund proposes to
add additional fields to the posted data
collection instrument to show how the
Applicant has met its Application
commitment to leverage a CMF Award
with the specified pre-investment funds.
The reporting template can be viewed
on the CDFI Fund Web site at https://
www.cdfifund.gov/programs-training/
Programs/cmf/Pages/compliancestep.aspx#step5. Comments concerning
the Annual Report are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’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 required to provide
information.
Authority: Pub. L. 110–289, 12 CFR 1807.
Mary Ann Donovan,
Director, Community Development Financial
Institutions Fund.
[FR Doc. 2016–13122 Filed 6–2–16; 8:45 am]
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DEPARTMENT OF THE TREASURY
Community Development Financial
Institutions Fund; Notice and Request
for Comments
Notice and request for
comments.

ACTION:

The U.S. Department of the
Treasury, as part of its continuing effort
to reduce paperwork and respondent

SUMMARY:

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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).
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.
DATES:

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

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35817

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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