Supporting Statement - CDFI Program and NACA Program DF-FA Application (12-13-2017)

Supporting Statement for Paperwork Reduction Act Submissions

Community Development Financial Institutions Fund (CDFI Fund)

Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) Disability Funds-Financial Assistance Application

A. Justification

1. Circumstances necessitating collection of information

Pursuant to the Riegle Community Development Banking and Financial Institutions Act of 1994, as amended (12 USC 4701 et seq.), the 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.

The Consolidated Appropriations Act of 2017 (P.L. 115-31) provided the CDFI Fund up to $3 million to provide “technical and financial assistance to CDFIs that fund projects to help individuals with disabilities.” The CDFI Fund created the Disability Funds-Financial Assistance (DF-FA) Application in response to this Congressional directive.

2. Method of collection and use of data

The CDFI Fund will collect data once per funding round by means of the DF-FA Application. Applicants must complete and upload the DF-FA Application through a CDFI Fund-managed web-based application portal with the exception of Standard Form 424 (SF-424). The SF-424 must be submitted through Grants.gov. The CDFI Fund will use the data collected to select eligible applicants that are the most highly qualified and to determine the applicable award amounts.

3. Use of Information Technology

The CDFI Fund only accepts electronic applications unless an applicant receives advance written permission from the CDFI Fund to submit in another format. All application materials must be submitted in the CDFI Fund-managed web-based portal except for the SF-424, which must be submitted in Grants.gov.

4. Efforts to identify duplication

The DF-FA Application does not request information that is available from other Federal agencies or collected in other information collections.

5. Impact on small entities

This collection of information is not expected to have significant impact on small entities.

6. Consequences of less frequent collection and obstacles to burden reduction

To meet the Congressional directive to provide up to $3 million to CDFIs that fund projects to help individuals with disabilities, the CDFI Fund must receive the information requested in the DF-FA Application to make funding decisions.

7. Circumstances requiring special information collection

Not applicable.

8. Solicitation of comments on information collection

The CDFI Fund has not received feedback from the public at this time, but plans to request public comment in the near future.

9. Provision of payment to respondents

No payments or gifts will be made to respondents.

10. Assurance of confidentiality

The CDFI Fund is subject to all Federal regulations with respect to confidentiality of information provided by CDFI Program and NACA Program applicants. Access to information in the DF-FA Application is restricted to the applicant, their designated representatives, CDFI Fund staff, and non-federal reviewers who are required to complete non-disclosure agreements.

11. Justification of sensitive questions.

No questions of a sensitive nature are asked in this information collection. No personally identifiable information (PII) is collected.

12. Estimate of the hour burden of information collection.

The burden estimate is based on approximately 30 private sector applicants completing the DF-FA Application in 12 hours for a total of 360 hours. Only private sector (for-profit and non-profit) applicants can apply for DF-FA. Therefore, the monetized burden hours estimate is based on private sector hourly rate costs.

Affected Pubic	# Respondents	# Responses Per Respondent	Total Annual Responses	Hours Per Response	Total Hours	Time Value (per hour)	Monetized Burden Hours
Disability Funds-Financial Assistance Application	30	1	30	12	360	$58.541	$21,074.00

13. Estimate of total annual cost burden to respondents

Per the table in Question 12, the average annual cost burden to respondents is $21,074. No purchase of equipment or services will need to be made by respondents for this information collection other than as required as part of customary and usual business practices.

14. Estimate of annualized cost to the Government

The cost to the Government is the CDFI Fund staff and contractor time required to review the submitted DF-FA Application, maintain the electronic application system and collect follow-up information from applicants. It is not possible to accurately track expenses for the review process associated with the DF-FA Application. Staff at varying grades, both internal and external to the CDFI Fund, support application reviews at different levels throughout the application review period which often goes beyond one fiscal year.

15. Any program changes or adjustments

Not applicable. This a new information collection in response to a Congressional directive, included in the CDFI Fund’s FY 2017 appropriation, to provide up to $3 million to CDFIs that fund projects to help individuals with disabilities.

16. Plans for information tabulation and publication

Confidential or proprietary information collected through this information collection will not be published.

17. Reasons for not displaying expiration date of OMB approval

The CDFI Fund will display the expiration date of the OMB approval on the application form.

18. Explanation of exceptions to certification statement

Not applicable.

B. Collections of Information Employing Statistical Methods

Not applicable.

1 The hourly rate is based on the national estimate for the median hourly wage for Financial Managers according the Bureau of Labor Statistics (https://www.bls.gov/oes/current/oes113031.htm)

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