Community Development Financial Institutions Fund FY 2022 CDFI Equitable Recovery Program Application. 

ICR 202206-1559-001

OMB: 1559-0052

Federal Form Document

IC Document Collections
ICR Details
202206-1559-001
Received in OIRA
TREAS/CDFIF 1559-NEW
Community Development Financial Institutions Fund FY 2022 CDFI Equitable Recovery Program Application. 
New collection (Request for a new OMB Control Number)   No
Emergency 06/14/2022
06/14/2022
  Requested Previously Approved
6 Months From Approved
450 0
29,250 0
0 0

The CDFI Fund will provide awards of up to $15 million to Certified Community Development Financial Institutions (CDFIs) (1) to expand lending, grant making and investment activities in low- to moderate-income communities that have historically experienced significant unmet capital and financial services needs and were disproportionately impacted by the COVID-19 pandemic; and (2) to enable CDFIs to build organizational capacity and acquire technology, staff, and other items necessary to accomplish the CDFI ERP objectives.
The CDFI ERP funds appropriated under the Supplemental Appropriations Act, cited above, were intended by Congress to provide expeditious relief related to the COVID-19 pandemic. In May and June of 2021, federal courts imposed preliminary injunctions on certain coronavirus relief programs that involved race-based policies. Because the statutory language for this program also included race-based policies related to dissemination of the funding, the court rulings necessitated extensive collaboration between Treasury Office of General Counsel, Department of Justice, and White House Counsel’s office to determine an appropriate approach related to the structuring of the CDFI Equitable Recovery Program. Only after those issues were resolved could Treasury commence with developing the program application and award criteria.

PL: Pub.L. 116 - 260 523 Name of Law: The Coronavirus Response and Relief Supplemental Consolidated Appropriations Act of 2021
  
PL: Pub.L. 116 - 260 523 Name of Law: The Coronavirus Response and Relief Supplemental Consolidated Appropriations Act of 2021

Not associated with rulemaking

No

1
IC Title Form No. Form Name
FY 2022 CDFI Equitable Recovery Program Application N/A FY 2022 CDFI Equitable Recovery Program Application.

  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 450 0 450 0 0 0
Annual Time Burden (Hours) 29,250 0 29,250 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is a new program authorized by statute.

$0
No
    No
    No
No
No
No
Yes
Dan Aiello 202 653-0401 [email protected]

  No

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.
06/14/2022


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