Bank Enterprise Award Program Application

Forms and Documents

Document Name	Status
Form CDFI-0002 Bank Enterprise Award Program Application Form	Modified
OMB Emergency Clearance Justification Memo 11 05 07.doc Supplementary Document	2007-11-08
OMB Supporting Statement 11 05 07.doc Supporting Statement A	2007-11-08

IC Document Collections

IC ID	Document Title	Status
20149	Bank Enterprise Award Program Application Form	Modified

ICR Details

OMB Control No: 1559-0005	ICR Reference No: 200711-1559-001
Status: Historical Active	Previous ICR Reference No: 200504-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Bank Enterprise Award Program Application
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 11/30/2007
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/06/2007
	Date Received in OIRA: 11/21/2007
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2008	6 Months From Approved	05/31/2008
Responses	1	0	1
Time Burden (Hours)	977	0	975
Cost Burden (Dollars)	0	0	0

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Abstract: The BEA Program provides incentives to insured depository institutions to increase their support of CDFIs and their activities in economically distressed communities.

Emergency Justfication: The Community Development Financial Institutions Fund (the Fund) is requesting emergency clearance of the FY 2008 BEA Application Materials. The clearance package includes: application and supporting tables and instructions, voluntary survey, glossary of terms, and supplementary guidance. This package has completed internal clearance at the Fund. The FY 2008 application contains two substantive changes to the FY 2007 application (described in more detail below). The Fund requests emergency clearance of these items in order to meet program application deadlines as stated in the BEA Program Notice of Funds Availability (NOFA) published in the Federal Register on January 3, 2007 (72 Federal Register 189). Specifically, the Fund is to make the FY 2008 application available via Grants.gov approximately 2 months prior to the end of the Assessment Period (December 31, 2007) for the FY 2008 funding round. Therefore BEA applicants will expect the application to be posted in November 2007. The application due date is March 13, 2008. The substantive changes to the FY 2008 application are: 1. The inclusion of a brief voluntary survey to collect information on past and planned use of BEA awards (page 47 and attachment). This was developed in response to OMB’s concern that the Fund should better understand how awardees use BEA funding. The collection of this information is not expected to have a significant impact on applicants as it is brief (5 multiple choice questions), voluntary, and does not require additional information or documentation to be submitted with the application. 2. A requirement that applicants electronically report addresses for all distressed community transactions (page 36). This requirement is in accordance with the Fund’s response to the 2006 Government Accountability Office (GAO) report on the BEA program (“Treasury’s Bank Enterprise Award Program: Impact on Investment in Distressed Communities is Difficult to Determine, But likely Not significant for Some Banks”). In a letter to GAO dated September 15, 2006, the Fund stated that it would adopt a policy to require applicants to electronically report addresses for all Distressed Community Financing transactions of $250,000 and above in FY 2007 and for all transactions in FY 2008. This requirement is not expected to significantly increase the burden on applicants as it does not require applicants to supply additional materials or documentation than previously collected. The collection of this information only requires the completion of four fields (address, city, state and zip code) in an existing electronic spreadsheet. If the Fund were to eliminate these changes, it would be to the detriment of the BEA program. The revisions are included to mitigate criticisms of the program and enhance its efficacy going forward. However, due to timing constraints described above, the FY 2008 application with the revisions would not be able to complete the PRA review and conform to the BEA NOFA deadlines. Given the nature of the changes and lack of public comments to previous solicitations for comments on BEA applications, the Fund would not expect a full PRA process to yield any revisions to the existing materials. In addition, the BEA Application’s PRA approval expires in May 2008 which will require a full substantive PRA review of the application and materials in early 2008. The Fund is preparing to submit the complete application package for public comments at that time.

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Authorizing Statute(s): US Code: 12 USC 1834a Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Bank Enterprise Award Program Application	CDFI-0002, CDFI-0002	BEA Application - Voluntary Survey ,   2007 BEA Application

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ICR Summary of Burden

	Total Approved	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	1	1	0	0	0	0
Annual Time Burden (Hours)	977	975	0	2	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The FY 2008 BEA Program application is substantively the same as the previous application (FY 2007) other than changes in dates, clarification of explanatory information and the inclusion of a brief voluntary survey to collect information on past and planned use of BEA awards. Also, a requirement that applicants electronically report addresses for all distressed community transactions (see #15 on supporting statement).

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/21/2007

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