| Request for Public Comment: Capital Magnet Fund Application and Annual Performance Report | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=405 | Request for Public Comment: Capital Magnet Fund Application and Annual Performance Report | <p>The 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 Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the Capital Magnet Fund (CMF) Application and the CMF Annual Performance Report (CMF Performance Report).</p><p>The Capital Magnet Fund was established through the Housing and Economic Recovery Act of 2008 (Pub. L. 110-289) or HERA, as a competitive grant program administered by the CDFI Fund. Through CMF, the CDFI Fund provides financial assistance grants to Certified Community Development Financial Institutions (CDFIs) and qualified non-profit housing organizations. These awards can be used to finance affordable housing activities, as well as related economic development activities and community service facilities.</p><p>CMF Award Recipients are selected through a competitive process involving a careful review of their Application for program funding. The Application requires the submission of quantitative data and narrative responses for three parts: (1) Business and Leveraging Strategy, (2) Community Impact, and (3) Organizational Capacity. The Award selection process is defined in the Notice of Funding Availability (NOFA) for each funding round.</p><p>In addition, the CMF Award Recipients are required to submit the CMF Annual Performance Report. The information collected in the CMF Performance Report is reviewed to ensure the Award Recipient’s compliance with its Performance Goals and contractual obligations, as well as the overall performance of the program. Data collected through the CMF Performance Report consists of three categories of data: (1) mandatory data points, (2) conditionally required data points based on project characteristics, financing type or other condition, and (3) optional data points.</p><p>The CDFI Fund has posted the proposed CMF Application and CMF Performance Report to its website here for public review. Comments are invited on all aspects of the information collections, but commentators may wish to pay particular attention to the series of questions in the Request for Public Comment notice that focus on specific aspects of the CMF Application, the Application evaluation process, and the CMF Performance Report. These questions cover topics such as the impact of the program; how different eligible entities should apply for the program; High Opportunity Areas and Areas of Economic Distress; rental and homeownership housing; Economic Development Activities; Application service areas for the program; and other important elements of the program’s Application and compliance requirements.</p><p>Comments must be submitted in writing by 60 days after the date of publication of the Federal Register notice via email to Daniel Aiello, Program Manager, Capital Magnet Fund, CDFI Fund, at
<a href="mailto:CMF@cdfi.treas.gov">CMF@cdfi.treas.gov</a>.</p><p>Related Materials:<br></p><ul><li>
<a href="https://www.federalregister.gov/documents/2020/12/30/2020-28757/notice-of-information-collection-and-request-for-public-comment" target="_blank">Federal Register Notice</a></li><li>
<a href="/Documents/CMFApplicationTemplateCMFPRARenewal%20from%20MT%20OneCT%2012212020_508%20Compliant.pdf">For Comment: Capital Magnet Fund Application</a></li><li>
<a href="/Documents/CMFPerformanceReportDataPointsCMFPRARenewal%20final%20from%20MT%20OneCT%2012212020_508%20Compliant.xlsx">For Comment: Capital Magnet Fund Annual Performance Report</a> </li></ul>
<br> | 2020-12-30T05:00:00Z | Updates | 405 | | |
| CDFI Fund Seeks Public Comment on NMTC Program Allocation Application | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=404 | CDFI Fund Seeks Public Comment on NMTC Program Allocation Application | <p>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 Paperwork Reduction Act of 1995, Pub. L. No. 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 New Markets Tax Credit Program (NMTC Program) Allocation Application. The request for comment was published today in the Federal Register.</p><p>The U.S. Department of the Treasury, through the CDFI Fund, Internal Revenue Service, and the Office of Tax Policy, administers the NMTC Program. In order to claim the New Markets Tax Credit, taxpayers make Qualified Equity Investments (QEIs) in Community Development Entities (CDEs) and substantially all of the QEI proceeds must, in turn, be used by the CDE to provide investments in businesses and real estate developments in low-income communities and other purposes authorized under the statute.</p><p>The application under review is part of the award selection process for the allocation of tax credit authority to CDEs. The Allocation Application has five main sections: Business strategy – Community Outcomes; Management Capacity; Capitalization Strategy; and Information Regarding Previous Awards – in addition to an Applicant Information section and various tables.</p><p>Please note that comments are being requested on changes to be made to the calendar year (CY) 2021 Allocation Application. Specifically, comments 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 costs required to provide the requested information including capital or start-up costs, costs of operation, maintenance costs, and costs to purchase any additional services.</p><p>An NMTC Allocation Application Template is provided online (link below) to aid the public in providing comments requested by this Notice, and presents the questions that will comprise the CY 2021 NMTC Allocation Application, including substantive revisions relative to the existing NMTC Allocation Application. These proposed substantive revisions relative to the existing NMTC Allocation Application are highlighted in yellow in the NMTC Allocation Application Template.</p><p>All comments must be received by March 1, 2021 and must be submitted in writing and sent to Christopher Allison, NMTC Program Manager, Community Development Financial Institutions Fund, by e-mail to nmtc@cdfi.treas.gov.</p><p>For more information about the NMTC Program, please visit
<a href="/nmtc">www.cdfifund.gov/nmtc</a>, or view our factsheet.</p><p>Related Documents</p><ul><li>
<a href="https://www.federalregister.gov/documents/2020/12/29/2020-28649/community-development-financial-institutions-fund-notice-and-request-for-public-comment" target="_blank">Federal Register Notice</a><br></li><li>
<a href="/Documents/NMTC%20Allocation%20Application%20PRA-508C.pdf">For Comment: NMTC Allocation Application Template</a></li></ul>
<br> | 2020-12-29T05:00:00Z | Updates | 404 | | |
| CDFI Fund Update: Revised ACR Guidance Information now Available | | https://www.cdfifund.gov/Lists/CDFI News/AllItems.aspx | https://www.cdfifund.gov/Lists/CDFI News/DispForm.aspx?ID=403 | CDFI Fund Update: Revised ACR Guidance Information now Available | <p>The Community Development Financial Institutions Fund (CDFI Fund) has released updated information for Certified Community Development Financial Institutions (CDFIs) regarding the Annual Certification and Data Collection Report (ACR).</p><p>The ACR, which must be completed by all Certified CDFIs on annual basis, allows the CDFI Fund to assess CDFIs’ compliance with Certification guidelines and collect data that provides insights into the CDFI industry.</p><p>The CDFI Fund has updated the supporting information for the ACR to reflect how to address Paycheck Protection Program (PPP) activity within and outside of Target Market(s); how to report changes to Target Market(s) after viewing what is shown in the AMIS Target Market page; and how regulator call report data will be used to pre-populate select financial data fields for certain regulated entities.</p><p>The revised information includes: an updated Frequently Asked Questions document; a glossary of ACR terms; instructions for completing the ACR; the ACR Award Management Information System (AMIS) training manual; and a pre-recorded webinar. These updates can be accessed at
<a href="/cdficert">www.cdfifund.gov/cdficert</a> under
<a href="/programs-training/certification/cdfi/Pages/reporting-step.aspx#step2">How to Apply Step 2: Reporting</a>.</p><p>For questions regarding CDFI Certification or program compliance requirements, please contact the CDFI Fund by e-mail to ccme@cdfi.treas.gov; via an AMIS Service Request; or by phone at (202) 653-0423.
<br></p><br> | 2020-12-17T05:00:00Z | Updates | 403 | | |
