Justification for Non-substantive Change (Rapid Response Program)

Non-substantive change request for

Performance Progress Report (OMB Control # 1559- 0050)

As authorized by the Consolidated Appropriations Act, 2021 (Pub. L. 116-260), the Community Development Financial Institutions Fund (CDFI Fund) has launched the CDFI Rapid Response Program (RRP) to provide grants to Community Development Financial Institutions (CDFIs) to support, prepare for, and respond to the economic impact of the COVID–19 pandemic. CDFI RRP utilizes existing evaluation and compliance reporting mechanisms already in place for the CDFI Program. Per Congressional directive, the application process has been completed and awards were announced by the CDFI Fund on June 15, 2021.

The CDFI Fund is requesting a non-substantive change request to the existing Performance Progress Report (PPR) (OMB Control #1559-0050) for CDFI RRP Recipients. The CDFI RRP is a one-time supplemental award and will not continue after two-years of reporting by program recipients. The CDFI RRP Performance Goals will be added to the existing PPR data collection form, and CDFI RRP Recipients will be required to respond to the questions by providing numerical figures (see Table 1 below).

The addition of these RRP data points to the existing form should require minimal additional burden and so the estimate for completing the form will remain 30 minutes per response. 863 CDFIs received RRP funds and will thus complete an additional Performance Progress Report, increasing the total burden for 1559-0050 by 432 hours.

Table 1: RRP Data Points to be added to PPR Performance Goal	Data Points
Uses of CDFI RRP Assistance	• Total dollar amount of CDFI RRP assistance expended
Recipients that receive an award greater than $200,000 (the minimum award amount) and that do not receive CDFI RRP funding designated to benefit Native Communities	• Total dollar amount of financial products closed (exclusive of Base-FA, PPC-FA, HFFI-FA, or DF-FA) in eligible market(s) and/or the recipient’s approved target market in current period of performance