Notice2022-25552
Notice and Request for Information-Opportunities and Challenges in Federal Community Investment Programs
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 23, 2022
Issuing agencies
Treasury Department
Abstract
On October 4, 2022, representatives comprising the Interagency Community Investment Committee (ICIC)--the Department of the Treasury (Treasury), Small Business Administration (SBA), Department of Commerce (Commerce), Department of Transportation (DOT), Department of Housing and Urban Development (HUD), and Department of Agriculture (USDA), (collectively, the Agencies)--invited the public to comment on how the ICIC can promote economic conditions and systems that reduce racial disparities and produce stronger economic outcomes for all communities. Responses may be used to inform ICIC's future actions to improve the operations and delivery of federal community investment programs through stronger federal collaboration. The purpose of this notice is to extend the comment period for a period of two weeks until December 19, 2022 as to provide more time for interested parties to submit comments.
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 225 (Wednesday, November 23, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 225 (Wednesday, November 23, 2022)]
[Notices]
[Pages 71741-71744]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-25552]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Notice and Request for Information--Opportunities and Challenges
in Federal Community Investment Programs
AGENCY: Department of the Treasury (Treasury), Small Business
Administration (SBA), Department of Commerce (Commerce), Department of
Transportation (DOT), Department of Housing and Urban Development
(HUD), and Department of Agriculture (USDA), (collectively, the
Agencies).
ACTION: Request for information; extension of comment period.
-----------------------------------------------------------------------
SUMMARY: On October 4, 2022, representatives comprising the Interagency
Community Investment Committee (ICIC)--the Department of the Treasury
(Treasury), Small Business Administration (SBA), Department of Commerce
(Commerce), Department of Transportation (DOT), Department of Housing
and Urban Development (HUD), and Department of Agriculture (USDA),
(collectively, the Agencies)--invited the public to comment on how the
ICIC can promote economic conditions and systems that reduce racial
disparities and produce stronger economic outcomes for all communities.
Responses may be used to inform ICIC's future actions to improve the
operations and delivery of federal community investment programs
through stronger
[[Page 71742]]
federal collaboration. The purpose of this notice is to extend the
comment period for a period of two weeks until December 19, 2022 as to
provide more time for interested parties to submit comments.
DATES: The comment period for the notice published at 87 FR 60236 on
October 4 2022, is extended by two weeks. Responses must be received by
December 19, 2022 to be assured of consideration.
ADDRESSES: Please submit comments electronically through the Federal
eRulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a>, specifically at
<a href="https://www.regulations.gov/commenton/TREAS-DO-2022-0020-0001">https://www.regulations.gov/commenton/TREAS-DO-2022-0020-0001</a>. All
comments should be captioned with ``Community Investment Request for
Information Comments.'' Please include your name, organization
affiliation, address, email address, and telephone number in your
comment. Where appropriate, a comment should include a short executive
summary. In general, comments received will be posted on <a href="http://www.regulations.gov">http://www.regulations.gov</a> without change, including any business or personal
information provided. Comments received, including attachments and
other supporting materials, will be part of the public record and
subject to public disclosure. Do not enclose any information in your
comment or supporting materials that you consider confidential or
inappropriate for public disclosure.
FOR FURTHER INFORMATION CONTACT: Please contact Viraj Parikh, Phone
Number: 202-923-5161, or <a href="/cdn-cgi/l/email-protection#337c6163705c5e5e465d5a474a77564561757a73474156524046414a1d545c45"><span class="__cf_email__" data-cfemail="9fd0cdcfdcf0f2f2eaf1f6ebe6dbfae9cdd9d6dfebedfafeeceaede6b1f8f0e9">[email protected]</span></a>. Further
information may be obtained from the Treasury website detailing the
initiative.
SUPPLEMENTARY INFORMATION: The Biden-Harris Administration is deploying
trillions of dollars of public-sector investment authorized through
programs under the American Rescue Plan Act of 2021 (ARP), Bipartisan
Infrastructure Law (BIL), Consolidated Appropriations Act, 2021, the
bipartisan CHIPS and Science Act (CHIPS) and the Inflation Reduction
Act (IRA). These transformational investments present an opportunity to
implement federal service delivery solutions that will support
catalytic growth in historically underserved communities and address
racial and geographic economic disparities.
On October 4, 2022, the Agencies published a Notice in the Federal
Register to request public comment on how to improve the operations and
delivery of federal community investment programs through stronger
federal collaboration.\1\ The Notice requested that respondents address
the Key Questions listed below and stated that comments must be
received by December 5, 2022 to be assured of consideration. This
notice announces the extension of the comment period for a period of
two weeks as to provide more time for interested parties to submit
comments. Responses must be received by December 19, 2022 to be assured
of consideration.
---------------------------------------------------------------------------
\1\ Opportunities and Challenges in Federal Community Investment
Programs, 87 FR 60236 (October 4, 2022), <a href="https://www.regulations.gov/commenton/TREAS-DO-2022-0020-0001">https://www.regulations.gov/commenton/TREAS-DO-2022-0020-0001</a>.
---------------------------------------------------------------------------
Key Questions
Note: To assist with responding to these questions, a brief but
non-exhaustive list of ICIC-relevant programs are listed at the end of
this RFI.
1. Please describe examples of best practices and lessons learned
from community investment projects that have layered a mix of public,
private, and/or philanthropic capital. How could these projects have
been more impactful or more cost effective to implement? In responding
to this question, examples may address any of the four substantive
areas of focus described in this RFI: (1) strengthening the capacity of
community financial institutions; (2) supporting small businesses and
entrepreneurship; (3) improving financial health and inclusion; and (4)
investing in community facilities and infrastructure. In addition, a
non-exhaustive list of example programs is provided in the appendix of
this RFI as a reference.
2. From the examples provided in response to question 1, what
specific changes could agencies consider to facilitate the layering of
federal funds to attract greater private follow-on funding, as they
implement new community investment programs and contemplate
modifications to others?
3. As agencies are implementing new programs under recent CHIPS and
IRA legislation, how can they best incorporate these lessons to
streamline design and delivery, as well as ensure historically
underserved communities benefit from federal funds?
4. Community financial institutions play a critical role in
providing safe, affordable capital and financial services to
historically underserved communities. How can federal agency
coordination help build the capacity of these organizations to serve
their communities?
5. What specific changes to federal credit or securitization
programs could facilitate additional private investment in community
financial institutions, and what are the most important existing
limitations of these programs that may prohibit additional scale that
could be achieved?
6. How can the Agencies incentivize or structure data collection
and reporting to promote increased private sector and philanthropic
investment in community financial institutions?
7. How can further alignment of and coordination between federal
agencies in the four areas of substantive focus result in stronger
outcomes with regards to reducing racial economic disparities,
improving financial security and economic mobility, and generating
broadly shared economic opportunity?
8. What data should the Agencies consider collecting to better
understand and report the impact of community investments in reducing
racial, gender, and geographic, or other economic disparities?
9. How can the Agencies collaborate on providing technical
assistance, opportunities for peer-to-peer learning, and other non-
financial resources to support the deployment of capital or
implementation of community-serving projects in historically
underserved communities?
10. Please describe best-in-class examples of how federal technical
assistance has been best implemented through public-private
partnerships.
Jessica Milano,
Chief Program Officer, Office of Recovery Programs.
Appendix
I. Strengthen Community Financial Institutions
Programs that support CDFIs, MDIs, credit unions, and community
banks with assets less than $1 billion:
------------------------------------------------------------------------
------------------------------------------------------------------------
Commerce.......................... EDA Build to Scale, EDA Revolving
Loan Funds.
DOT............................... Thriving Communities,* Reconnecting
Communities.
HUD............................... Federal Housing Administration,
Ginnie Mae, Section 108, HOME
Investment Partnership, Housing
Trust Fund.
[[Page 71743]]
Treasury.......................... Emergency Capital Investment Fund
(ECIP), CDFI Fund, State Small
Business Credit Initiative (SSBCI).
SBA............................... Community Advantage, Microloan
programs, 7(a) Loan Program, 504
Loan Program, Program for
Investment in Micro-Entrepreneurs
(PRIME) grants.
USDA.............................. RD B&I loan program, RD Community
Facilities Program, Intermediary
Relending Program, Rural Business
Development Grants, Rural
Microentrepreneur Assistance
Program.
------------------------------------------------------------------------
II. Increase Small Business Creation, Growth, and Profitability
Programs that support small business access to capital (debt &
equity), technical assistance for entrepreneurs, contracting:
------------------------------------------------------------------------
------------------------------------------------------------------------
Commerce.......................... Minority Business Development Agency
(MBDA) programs:
<bullet> SSBCI Technical Assistance
Program.
<bullet> National Business Center
Network Program.
<bullet> Specialty Centers.
<bullet> American Indian, Alaska
Native, and Native Hawaiian
Projects.
<bullet> Enterprising Women of Color
Program.
<bullet> Entrepreneurship Education
for Formerly Incarcerated Persons
Pilot.
<bullet> Minority Colleges and
University Pilot.
<bullet> MBE Equity Multiplier
Project.
<bullet> Inner City Innovation Hub
Pilot.
EDA Build to Scale, EDA Revolving
Loan Funds.
DOT............................... Railroad Rehabilitation and
Improvement Financing (RRIF),
Transportation Infrastructure
Finance and Innovation Act (TIFIA),
Small Business Transportation
Resource Centers *.
HUD............................... Community Development Block Grant,
Section 3.
Treasury.......................... ECIP, CDFI Fund, SSBCI.
SBA............................... All programs.
USDA.............................. Rural Microentrepreneur Assistance
Program, Rural Business Development
Grant* RD B&I loan program, RD
Community Facilities Program,
Intermediary Relending Program.
------------------------------------------------------------------------
III. Improve Financial Health and Inclusion
Programs that support the creation of high-quality jobs and
access to consumer credit, payments, and savings products:
------------------------------------------------------------------------
------------------------------------------------------------------------
Commerce.......................... EDA Good Jobs Challenge, EDA Build
Back Better Regional Challenge,
MBDA Access to Capital: Innovative
Finance Pilot.
DOT............................... N/A.
HUD............................... Housing Counseling, Community
Development Block Grant, Section 3,
Asset Building Programs (e.g.,
Family Self-Sufficient, Resident
Opportunities and Self-
Sufficiency).
Treasury.......................... State and Local Fiscal Recovery
Fund, Emergency Rental Assistance
Program, ECIP, CDFI Fund.
SBA............................... All programs.
USDA.............................. Rural Innovation Stronger Economy,
Rural Economic Development Loan and
Grant.
------------------------------------------------------------------------
IV. Expand Community Infrastructure
Programs that support the preservation or development of
affordable housing, community facilities, public transportation, and
high-quality broadband:
------------------------------------------------------------------------
------------------------------------------------------------------------
Commerce.......................... EDA Build Back Better Regional
Challenge.
NTIA Technical Assistance and
Infrastructure programs, including:
<bullet> Connecting Minority
Communities Program.
<bullet> Broadband Infrastructure
Program.
<bullet> Tribal Broadband
Connectivity Program.
<bullet> Broadband Equity, Access,
and Deployment Program (BEAD).
<bullet> Middle Mile Broadband
Infrastructure Grant Program.
<bullet> State Digital Equity
Planning Grant Program.
<bullet> Digital Equity Competitive
Grant Program.
DOT............................... TIFIA, RRIF, Private Activity Bonds,
Thriving Communities *,
Reconnecting Communities, Regional
Infrastructure Accelerators *, Safe
Streets for All, Asset Concession-
Innovative Financing Grant *, Rural-
Tribal Technical Assistance Grant
*, Capital Investment Grants (other
public transport programs), FTA
Pilot Program.
HUD............................... Section 108, Community Development
Block Grant, HOME Investment
Partnership, Project-Based Rental
Assistance, Project Based Vouchers,
FHA Mortgage Insurance, Housing
Trust Fund, Choice Neighborhoods.
Treasury.......................... State and Local Fiscal Recovery
Fund, Capital Projects Fund,
Homeowners Assistance Fund, Low-
Income Housing Tax Credit.
SBA............................... 504 Loan Program, Contracting
Assistance Programs.
[[Page 71744]]
USDA.............................. RD Community Facilities Programs,
Rural Community Development
Initiative Grants, Section 502
loans, Section 504 loans and
grants, Mutual Self Help Grants,
Housing Preservation Grants, Rural
Rental Housing and Farm Labor
Housing Loans and Grants, Rental
Assistance, Rural Development
ReConnect and Community Connect
Programs. Rural Development Water
Emergency Community Water
Assistance Grants, Water
Infrastructure Grants for Rural and
Native Alaskan Villages, Rural
Decentralized Water Systems Grant
Program, Individual Water &
Wastewater Grants in Colonia Areas,
Water & Waste Disposal Grants to
Alleviate Health Risks on Tribal
Lands and Colonias, Water & Waste
Disposal Loans & Grants, Solid
Waste Management Grants.
------------------------------------------------------------------------
* Technical Assistance Program.
[FR Doc. 2022-25552 Filed 11-22-22; 8:45 am]
BILLING CODE 4810-AK-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on November 23, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.