Notice2023-27076
Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Revolving Loan Fund Financial Report, Form ED-209
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
December 11, 2023
Issuing agencies
Commerce DepartmentEconomic Development Administration
Abstract
The Department of Commerce, in accordance with the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to comment on proposed, and continuing information collections, which helps us assess the impact of our information collection requirements and minimize the public's reporting burden. The Economic Development Administration (EDA) proposes to extend Form ED- 209, Revolving Loan Fund (RLF) Financial Report, to continue collecting limited performance information from EDA RLF award recipients. The purpose of this notice is to allow for 60 days of public comment preceding submission of the collection to OMB.
Full Text
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<title>Federal Register, Volume 88 Issue 236 (Monday, December 11, 2023)</title>
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[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85870-85871]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-27076]
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DEPARTMENT OF COMMERCE
Economic Development Administration
Agency Information Collection Activities; Submission to the
Office of Management and Budget (OMB) for Review and Approval; Comment
Request; Revolving Loan Fund Financial Report, Form ED-209
AGENCY: Economic Development Administration, Department of Commerce.
ACTION: Notice of information collection, request for comment.
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SUMMARY: The Department of Commerce, in accordance with the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to comment on proposed, and continuing information
collections, which helps us assess the impact of our information
collection requirements and minimize the public's reporting burden. The
Economic Development Administration (EDA) proposes to extend Form ED-
209, Revolving Loan Fund (RLF) Financial Report, to continue collecting
limited performance information from EDA RLF award recipients. The
purpose of this notice is to allow for 60 days of public comment
preceding submission of the collection to OMB.
DATES: To ensure consideration, comments regarding this proposed
information collection must be received on or before February 9, 2024.
ADDRESSES: Interested persons are invited to submit written comments by
mail to Mitchell Harrison, Program Analyst, Performance and National
Programs Division, Economic Development Administration, U.S. Department
of Commerce, via email to <a href="/cdn-cgi/l/email-protection#e7aaaf8695958e948889a7828386c9808891"><span class="__cf_email__" data-cfemail="074a4f6675756e7468694762636629606871">[email protected]</span></a> or <a href="/cdn-cgi/l/email-protection#54040615373b3939313a202714303b377a333b22"><span class="__cf_email__" data-cfemail="a6f6f4e7c5c9cbcbc3c8d2d5e6c2c9c588c1c9d0">[email protected]</span></a>.
Please reference OMB Control Number 0610-0095 in the subject line of
your comments. Do not submit Confidential Business Information or
otherwise sensitive or protected information.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
specific questions related to collection activities should be directed
to Mitchell
[[Page 85871]]
Harrison, Program Analyst, Performance and National Programs Division,
Economic Development Administration, U.S. Department of Commerce, via
email to <a href="/cdn-cgi/l/email-protection#5b16133a2929322834351b3e3f3a753c342d"><span class="__cf_email__" data-cfemail="3f72775e4d4d564c50517f5a5b5e11585049">[email protected]</span></a> or by phone, (202) 482-4696.
SUPPLEMENTARY INFORMATION:
I. Abstract
Guided by the basic principle that sustainable economic development
should be locally driven, the Economic Development Administration (EDA)
works directly with communities and regions to help them build the
capacity for economic development based on local business conditions
and needs.
The EDA Revolving Loan Fund (RLF) Program, authorized under section
209 of the Public Works and Economic Development Act of 1965, as
amended (42 U.S.C. 3149), has served as an important pillar of EDA
investment programs since the establishment of the RLF Program in 1975.
The purpose of the RLF Program is to provide regions with a flexible
and continuing source of capital, to be used with other economic
development tools, for creating and retaining jobs and inducing private
investment that will contribute to long-term economic stability and
growth. EDA provides RLF grants to eligible recipients, which include
State and local governments, Indian Tribes, and non-profit
organizations, to operate a lending program that offers loans with
flexible repayment terms, primarily to small businesses in distressed
communities that are unable to obtain traditional bank financing. These
loans enable small businesses to expand and lead to new employment
opportunities that pay competitive wages and benefits.
A unique feature of the RLF Program is that the federal interest in
RLF awards does not terminate but may be released by EDA seven years
after completion of the grant disbursement. EDA RLF regulations
therefore require RLF recipients to submit to EDA RLF Financial Report,
Form ED-209, which collects limited performance information for RLF
awards (13 CFR 307.14(a)). EDA currently requires Form ED-209 to be
submitted on an annual basis for high-performing RLFs and on a semi-
annual basis for other RLFs.
Through implementation of the Reinvigorating Lending for the Future
Act (RLF Act), EDA released its federal interest in a substantial
portion of the RLF awards that were previously required to submit Form
ED-209. As a result, the number of respondents required to submit Form
ED-209 will decrease. Although Form ED-209 is being extended without
change, and the estimated amount of time required to complete Form ED-
209 remains unchanged at three hours, the estimated annual burden hours
for Form ED-209 is decreasing because of the decreased number of RLF
awards and respondents required to complete Form ED-209.
II. Method of Collection
RLF recipients must complete and submit the information collected
by Form ED-209 online through a Salesforce application (``RLF Portal'')
for Revolving Loan Fund (RLF) reporting that is accessible at <a href="https://doc-eda.my.site.com/RLF/s/login/">https://doc-eda.my.site.com/RLF/s/login/</a>.
III. Data
OMB Control Number: 0610-0095.
Form Number(s): ED-209.
Type of Review: Extension of a currently approved information
collection.
Affected Public: EDA RLF recipients: State and local governments,
Indian Tribes, and non-profit organizations.
Estimated Number of Respondents: 1,000.
Estimated Time per Response: 3 hours.
Estimated Total Annual Burden Hours: 3,000.
Estimated Total Annual Cost to Public: $173,520 (cost assumes
application of U.S. Bureau of Labor Statistics first quarter 2020 mean
hourly employer costs for employee compensation for professional and
related occupations of $57.84).
Respondent's Obligation: Mandatory.
IV. Request for Comments
We are soliciting public comments to permit the Department/Bureau
to: (a) Evaluate whether the proposed information collection is
necessary for the proper functions of the Department, including whether
the information will have practical utility; (b) Evaluate the accuracy
of our estimate of the time and cost burden for this proposed
collection, including the validity of the methodology and assumptions
used; (c) Evaluate ways to enhance the quality, utility, and clarity of
the information to be collected; and (d) Minimize the reporting burden
on those who are to respond, including the use of automated collection
techniques or other forms of information technology.
Comments that you submit in response to this notice are a matter of
public record. We will include or summarize each comment in our request
to OMB to approve this ICR. Before including your address, phone
number, email address, or other personal identifying information in
your comment, you should be aware that your entire comment--including
your personal identifying information--may be made publicly available
at any time. While you may ask us in your comment to withhold your
personal identifying information from public review, we cannot
guarantee that we will be able to do so.
Sheleen Dumas,
Department PRA Clearance Officer, Office of the Under Secretary for
Economic Affairs, Commerce Department.
[FR Doc. 2023-27076 Filed 12-8-23; 8:45 am]
BILLING CODE 3510-34-P
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