86648 Federal Register / Vol. 85, No. 250 / Wednesday, December 30, 2020 / Notices 

The information collected under this 

rule is used by FRA to ensure railroads 

operating camp cars comply with all the 

requirements mandated in this 

regulation to protect the health and 

safety of camp car occupants. 

Type of Request: Extension with 

change (estimates) of a currently 

approved collection. 

Affected Public: Businesses. 

Form(s): N/A. 

Respondent Universe: 1 railroad. 

Frequency of Submission: On 

occasion. 

Total Estimated Annual Responses: 

6,125. 

Total Estimated Annual Burden: 994 

hours. 

Total Estimated Annual Burden Hour 

Dollar Cost Equivalent: $74,440. 

Under 44 U.S.C. 3507(a) and 5 CFR 

1320.5(b) and 1320.8(b)(3)(vi), FRA 

informs all interested parties that a 

respondent is not required to respond 

to, conduct, or sponsor a collection of 

information that does not display a 

currently valid OMB control number. 

Authority: 44 U.S.C. 3501–3520. 

Brett A. Jortland, 

Deputy Chief Counsel. 

[FR Doc. 2020–28830 Filed 12–29–20; 8:45 am] 

BILLING CODE 4910–06–P 

DEPARTMENT OF THE TREASURY 

Community Development Financial 

Institutions Fund 

Notice of Information Collection and 

Request for Public Comment 

ACTION: Notice and request for public 

comment. 

SUMMARY: The U.S. Department of the 

Treasury, as part of a 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 (PRA) of 

1995. Currently, the Community 

Development Financial Institutions 

(CDFI) Fund, Department of the 

Treasury, is soliciting comments 

concerning: The Capital Magnet Fund 

(CMF) Application (Application), and 

reporting and record retention 

requirements of the CMF Annual 

Performance Report (CMF Performance 

Report). Both the Application and CMF 

Performance Report are online forms 

submitted through the CDFI Fund’s 

Award Management Information System 

(AMIS). 

DATES: Written comments must be 

received on or before March 1, 2021 to 

be assured of consideration. 

ADDRESSES: Submit your comments via 

email to Daniel Aiello, Program 

Manager for the Capital Magnet Fund, 

CDFI Fund at cmf@cdfi.treas.gov. 

FOR FURTHER INFORMATION CONTACT: 

Daniel Aiello, CMF Program Manager, 

CDFI Fund, U.S. Department of the 

Treasury, 1500 Pennsylvania Avenue 

NW, Washington, DC 20220, (202) 653– 

0421 (not a toll-free number), or cmf@

cdfi.treas.gov. Other information 

regarding the CDFI Fund and its 

programs may be obtained on the CDFI 

Fund website at https://

www.cdfifund.gov. Two documents are 

provided to aid the public in providing 

comments requested by this Notice. The 

CMF Application Template, which 

presents the questions that will 

comprise the online Application, 

includes substantive revisions relative 

to the existing Application. The 

proposed revisions relative to the 

existing Application are highlighted in 

yellow in the CMF Application 

Template. The CMF Performance Report 

Data Points presents the information 

proposed to be collected in the online 

CMF Performance Report. Substantive 

changes being made to the CMF 

Performance Report are highlighted in 

blue in this document, and a list of 

proposed deletions is also included. 

Both documents may be obtained from 

the CMF program page of the CDFI Fund 

website at https://www.cdfifund.gov/ 

cmf. 

SUPPLEMENTARY INFORMATION: 

Title: Capital Magnet Fund 

Application; Capital Magnet Fund 

Performance Report. 

OMB Number: 1559–0036. 

Abstract: 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 Nonprofit 

Organizations with the development or 

management of Affordable Housing, as 

defined in 12 CFR part 1807, as one of 

their principal purposes. Capitalized 

terms not defined in this Notice (other 

than titles) have the meaning set forth 

in the CMF Interim Rule (12 CFR part 

1807). CMF awards must be used to 

attract private financing for and increase 

investment in: (i) The Development, 

Preservation, Rehabilitation, and 

Purchase of Affordable Housing for 

primarily Extremely Low-, Very Low-, 

and Low-Income Families; and (ii) 

Economic Development Activities 

which, in conjunction with Affordable 

Housing Activities will implement a 

Concerted Strategy to stabilize or 

revitalize a Low-Income Area or an 

Underserved Rural Area. 

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. 

CMF Award Recipients enter into 

Assistance Agreements with the CDFI 

Fund that set forth required terms and 

conditions of the Award, including 

reporting and data collection 

requirements. The Assistance 

Agreement requires the submission of 

an annual CMF Performance Report. 

The information collected in the CMF 

Performance Report is reviewed to 

ensure the Recipient’s compliance with 

its Performance Goals and contractual 

obligations, as well as the overall 

performance of the program. 

Estimated Number of Respondents: 

130 (Application); 250 (CMF 

Performance Report). 

Estimated Annual Time per 

Respondent: 120 hours (Application); 20 

hours (CMF Performance Report). 

Estimated Annual Burden Hours: 

15,600 hours (Application); 5,000 hours 

(CMF Performance Report). 

Request for Comments: Comments 

submitted in response to this Notice 

will be summarized and/or included in 

the request for Office of Management 

and Budget approval. All comments will 

become a matter of public record and 

may be published on the CDFI Fund 

website at https://www.cdfifund.gov. 

CMF Application 

The CDFI Fund is seeking input on 

the content of the proposed Application 

with regard to the following: (a) Is the 

collection of information as proposed 

necessary for the proper performance of 

the functions of the agency, including 

whether the information shall have 

practical utility in evaluating 

Applications; (b) the accuracy of the 

agency’s estimate of the burden related 

to 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 

Federal Register / Vol. 85, No. 250 / Wednesday, December 30, 2020 / Notices 86649 

capital or start-up costs and costs of 

operation, maintenance and purchase of 

services required to provide 

information. 

Additionally, the CDFI Fund 

specifically requests comments 

concerning the following questions 

related to the proposed Application (set 

forth in the CMF Application Template): 

(a) Impact: The proposed Application 

includes questions about the intended 

impact of an Applicant’s CMF strategy. 

(1) How should the CDFI Fund assess 

the impact of CMF Awards on LowIncome Families and communities? (2) 

The CDFI Fund has identified for 

Applicants a set of impacts in the 

proposed Application from which to 

choose. Are the current impact choices 

sufficiently comprehensive? Are there 

impacts that should be added or 

modified? (3) The CDFI Fund is 

proposing a standard set of metrics for 

each impact in the Application. Are the 

metrics proposed in the Application 

reasonable? Should any be added or 

removed? 

(b) Entity Types: Financing entities 

(including CDFIs) and affordable 

housing developers/managers 

participate in the CMF program. These 

two entity types generally have different 

business models and may have different 

approaches to using the CMF Award. (1) 

Are additional questions or revisions to 

existing questions needed in the 

Application to further differentiate the 

two entity types? If so, please describe 

and justify. (2) Both the existing and 

proposed Application currently asks 

non-CDFI Applicants to self-identify as 

financing entities or affordable housing 

developers/managers; all CDFIs are 

classified as financing entities. Should a 

CDFI be permitted to self-identify as an 

affordable housing developer/manager if 

the CDFI intends to primarily act in a 

developer role when executing its CMF 

Award strategy? 

(c) Areas of Economic Distress and 

High Opportunity Areas: Along with 

focusing on Areas of Economic Distress, 

the CMF authorizing statute enables the 

program to prioritize ‘‘projects that 

target Extremely Low-, Very Low-, and 

Low-Income Families in or outside a 

designated economic distress area.’’ To 

this end, the CDFI Fund is proposing to 

implement this statutory language by 

adding High Opportunity Areas, as 

defined by the Federal Housing Finance 

Agency (FHFA), as a priority alongside 

Areas of Economic Distress. High 

Opportunity Areas are priorities in the 

FHFA’s Duty to Serve Rule, and 

generally encompass areas outside of 

existing CMF Areas of Economic 

Distress, including areas with lower 

poverty rates, and is seeking public 

comment on the following questions: (1) 

Should the CDFI Fund add High 

Opportunity Areas as a priority in the 

Application? (2) If added, should High 

Opportunity Areas be weighted the 

same or differently as Areas of 

Economic Distress in the evaluation of 

Applications? (3) Should the CDFI Fund 

rely on the criteria established by the 

FHFA in the Duty to Serve Rule to 

designate such areas? Under the FHFA 

definition, a High Opportunity Area 

must (i) be designated by HUD as a 

Difficult to Develop Area whose poverty 

rate is lower than the rate specified by 

FHFA in the most recently published 

Duty to Serve Evaluation Guidance; or 

(ii) be designated by a state Qualified 

Allocation Plan as a high opportunity 

area and approved by FHFA in its most 

recently published Duty to Serve 

Evaluation Guidance. (4) Should the 

CDFI Fund consider an alternative, 

nationally applicable definition of High 

Opportunity Areas instead of the FHFA 

definition? If so, what federal sources of 

data are available to define these areas 

at the census tract level? 

(d) Areas of Economic Distress Data 

Sets: Currently, the CMF program 

publishes a distinct data set for Areas of 

Economic Distress for each round, in 

part to allow for annual changes to CDFI 

Fund areas of emphasis and to reflect 

changing market conditions. This 

approach is different from other CDFI 

Fund programs, which update their 

program data every five years and apply 

these changes to all program 

requirements and Recipients. Should 

the CDFI Fund continue to provide a 

specific data set of the CMF Areas of 

Economic Distress for each round? Or, 

should another approach be used to 

maintain and update the Areas of 

Economic Distress data? 

(e) Rental and Homeownership 

Housing: Affordable rental housing and 

affordable Homeownership are eligible 

uses for a CMF Award. The CDFI Fund 

has differentiated between the two in 

past NOFAs and Applications as each 

relates to targeted income levels. 

Specifically, the targeted income level 

for Homeownership is Low-Income 

(80% of Area Median Income (AMI) and 

below), compared to a targeted income 

level of Very-Low Income (50% AMI 

and below) for rental housing. In 

addition to targeted income levels, are 

there other areas in the proposed 

Application where there should be 

different approaches to requesting and 

evaluating information on 

Homeownership and rental housing 

strategies? 

(f) Economic Development Activities: 

The CMF Interim Rule allows up to 30% 

of a CMF Award to be used for 

Economic Development Activities in 

conjunction with affordable housing 

and as part of a concerted strategy. In 

recent rounds, few Applicants requested 

to use their Award for Economic 

Development Activities. What, if any, 

barriers exist to using CMF Awards for 

Economic Development Activities? 

What, if any, changes are needed to the 

Application to address these barriers? 

(g) Priorities: From funding round to 

funding round, new priorities may 

emerge, such as disaster response, an 

economic downturn, or new initiatives. 

In the past, the CDFI Fund has 

addressed changing priorities on a 

round-by-round basis for Applications 

in a specific funding round. Should this 

approach be continued or adjusted? If it 

should be adjusted, what alternative 

approach should the CDFI Fund 

consider? 

(h) Multi-State Service Areas: The 

most recent CMF funding round (FY 

2020) limits Applicants with multi-state 

service areas to a maximum of 15 states. 

The limit stems from a statutory 

requirement to ensure geographic 

diversity among CMF Awards. As a 

result, it is important to know which 

states can reasonably be expected to be 

served during the selection process. 

How can the CMF program best ensure 

geographic diversity? What, if any, 

changes should be made to the current 

approach to achieve this goal? 

(i) Rural Areas: CMF has a statutory 

obligation to ensure geographic 

diversity among Metropolitan and rural 

areas. Currently, Recipients are limited 

to serving rural areas within their 

approved Service Area. Should 

Recipients be allowed to serve any rural 

area census tract in any state, regardless 

of Service Area, in order to meet its 

rural commitments under the Award? 

(j) Leverage: Attracting capital, or 

leveraging the CMF Award, is a 

statutory requirement and key 

component of CMF. (1) Is the current 

approach, set forth in the proposed 

Application, where Applicants are 

asked to describe their different types of 

leverage (e.g. Enterprise-Level, 

Reinvestment-Level, and Project-Level), 

clear? If not, how could it be clearer or 

otherwise improved? (2) The CDFI Fund 

is considering requesting that 

Applicants provide more 

documentation about the leverage they 

have secured at the time of the 

Application. What types of 

documentation related to proposed 

sources of leverage should the CDFI 

Fund collect? What, if any, burdens 

would collecting such documentation 

place on Applicants? (3) Per the CMF 

authorizing statute, Applicants to the 

CMF program must leverage their 

86650 Federal Register / Vol. 85, No. 250 / Wednesday, December 30, 2020 / Notices 

Award by at least 10 times. Currently, 

the CDFI Fund does not evaluate 

Applicants exceeding the 10:1 ratio 

more favorably than Applicants that 

meet the minimum 10 times benchmark. 

Should this approach be changed to 

recognize and score more favorably 

Applicants with total leverage 

exceeding the minimum requirement? 

(k) Program Income: During the fiveyear Investment Period, the repayment 

of principal and/or equity from projects 

financed with CMF is considered 

Program Income and must be reinvested 

in CMF-eligible projects. To date, the 

reinvestment has been limited to the 

Recipient’s approved Service Area. 

Should Recipients be allowed to 

reinvest CMF Program Income in 

anywhere in the United States without 

restriction? 

(l) Streamlined Collection of Data on 

Track Record/Projections: As part of the 

Application, the CDFI Fund collects and 

evaluates information from Applicants 

related to their five-year track record 

and projections. In past Applications, 

this information has been collected in a 

format that indicates activity (cost and 

units) on an annual basis. In the 

proposed Application, the information 

collection format in Tables A–C has 

been changed to a cumulative five-year 

basis. Is the approach of collecting 

cumulative data sufficient or should the 

CDFI Fund continue to collect data for 

each year? 

(m) Alignment with other Housing 

Programs: The CDFI Fund recognizes 

that the Low Income Housing Tax Credit 

(LIHTC) program is a significant 

resource used by many CMF Recipients 

in CMF-financed projects. Are there 

ways the CDFI Fund can increase 

alignment with LIHTC to reduce the 

burden on Applicants, particularly 

related to requirements or reporting for 

tenant income determination, long term 

deed restrictions or restrictive 

covenants, and income averaging? If so, 

please describe specific ways the 

alignment could best be achieved? 

(n) Loan Loss Reserves/Guarantees: 

The capitalization of Loan Loss Reserves 

and providing Loan Guarantees are 

eligible CMF activities. To ensure 

oversight and effective use of CMF 

Awards, the CDFI Fund is considering 

a requirement that Loan Loss Reserves 

or Guarantees provided with a CMF 

Award be established as segregated 

funds or accounts restricted to provide 

credit enhancement only for eligible 

CMF activities. Would such a 

requirement be feasible for Recipients? 

CMF Performance Report 

The CDFI Fund is also seeking input 

on the content of the CMF Performance 

Report. The CMF Assistance Agreement 

requires the collection of annual reports 

for compliance monitoring and program 

evaluation purposes. 

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. For most 

compliance measures, AMIS calculates 

whether the Recipient is compliant or 

non-compliant based on the data 

reported into the system. When the 

system determines that a noncompliance has occurred, the Recipient 

is required to complete an explanation 

of non-compliance prior to submitting 

the report to the CDFI Fund. 

Comments concerning the CMF 

Performance Report are invited on: (a) 

Whether the collection of information is 

necessary for the proper performance of 

the functions of the CDFI Fund, 

including whether the information shall 

have practical utility; (b) the accuracy of 

the CDFI Fund’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 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services required to provide 

information. 

The CDFI Fund also seeks comments 

on the following specific questions 

related to the proposed CMF 

Performance Report: 

(a) Data Collection Changes: Are the 

proposals for new data points and 

deleted data points in the CMF 

Performance Report appropriate? As 

explained above, proposed changes are 

highlighted or listed in the CMF 

Performance Report Data Points file. 

Will any of the proposed new data 

points for the CMF Performance Report 

highlighted in this file be infeasible or 

overly burdensome to collect? 

(b) Bulk Upload of Data: The CMF 

Performance Report does not currently 

allow Recipients to use a bulk upload 

process to create new ‘‘project records’’ 

in the reporting system. A ‘‘project 

record’’ is a unique record that is 

created through the entry of basic data 

about an investment, such as the 

location of the investment, the amount 

of the CMF Award Committed, and 

other information that typically is 

entered when an investment is made; 

data in the project record typically does 

not have to be revised or changed. The 

intent of the current policy is to 

minimize the accidental creation of 

duplicate ‘‘project records’’ by 

Recipients. The CDFI Fund is evaluating 

the feasibility of allowing Recipients to 

upload and create multiple project 

records, such as by uploading a 

spreadsheet. How can the CDFI Fund 

ensure that Recipients do not create 

duplicate records or generate other data 

quality issues if ‘‘project records’’ are 

allowed to be created in this manner? 

(c) Output Reports: The CDFI Fund 

began providing output reports 

(summary data based on data inputted 

by Recipients) in the CMF Performance 

Report that can be downloaded for 

individual Recipients to use beginning 

in July 2020. What modifications to 

these reports or other output reports 

would be helpful to Recipients? 

(d) Data Collection Frequency: An 

‘‘annual project report’’ record is a 

record within the reporting system that 

generally consists of data points that are 

updated as a Project progresses, such as 

dates, or data that is associated with 

single performance years, such as 

occupancy in that performance year. A 

‘‘project record’’ generally consists of 

information entered only one time for 

each Project. Is there any data currently 

being collected annually on an ‘‘annual 

project report’’ record that should be 

collected only once? Is there any data on 

the ‘‘project record’’ that should be 

collected annually instead of only once? 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collections of information 

displays a valid OMB control number. 

Authority: Pub. L. 110–289, 12 CFR part 

1807. 

Jodie L. Harris, 

Director, Community Development Financial 

Institutions Fund. 

[FR Doc. 2020–28757 Filed 12–29–20; 8:45 am] 

BILLING CODE 4810–70–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

based on OFAC’s determination that one 

or more applicable legal criteria were 

satisfied. All property and interests in