Capital Magnet Fund Application and Annual Report Forms

ICR 202104-1559-001

OMB: 1559-0036

Federal Form Document

ICR Details
1559-0036 202104-1559-001
Received in OIRA 201706-1559-001
Capital Magnet Fund Application and Annual Report Forms
Revision of a currently approved collection   No
Regular 04/30/2021
  Requested Previously Approved
36 Months From Approved 04/30/2021
428 255
22,260 22,200
0 1,286,892

Under the Capital Magnet Fund (CMF) the Community Development Financial Institutions (CDFI) Fund provides competitively awarded grants to CDFIs and qualified nonprofit housing organizations to finance affordable housing and related community development projects.

PL: Pub.L. 110 - 289 1339 Name of Law: Housing & Economic Recovery Act of 2008

Not associated with rulemaking

  85 FR 86648 12/30/2020
86 FR 22791 04/29/2021

  Total Request 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 428 255 0 0 173 0
Annual Time Burden (Hours) 22,260 22,200 0 -3,080 3,140 0
Annual Cost Burden (Dollars) 0 1,286,892 0 0 -1,286,892 0
Miscellaneous Actions
Miscellaneous Actions
The estimate of burden hours for FY 2021-2023 Applications of 16,440 hours is similar, but slightly lower, when compared to the previous total Application burden hours for the FY2017 application (20,000 hours). This primarily reflects a lower estimate of groups applying for funding (137 v. 200) and slightly higher burden hours (120 v. 100). The estimate of burden hours for the FY 2021-2023 Annually Report is somewhat increased from the prior estimate of 2,200 hours, based primarily on a significant increase in the number of reports expected to be filed annually (291 v. 55). This was offset partially by elimination of certain data points which lowered the burden per response from 40 hours to 20. Labor costs which had been erroneously included in ROCIS as Annual Cost Burden previously have been removed. There are no out-of-pocket (non-labor) costs connected with this collection.

Dan Aiello 202 653-0401 [email protected]


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.

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