Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Form ED-209, Revolving Loan Fund Financial Report, 51677-51678 [2020-18363]

Agencies

• DEPARTMENT OF COMMERCE
• Economic Development Administration

[Federal Register Volume 85, Number 163 (Friday, August 21, 2020)]
[Notices]
[Pages 51677-51678]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-18363]


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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; Form ED-209, Revolving Loan Fund Financial Report

AGENCY: Economic Development Administration, U.S. 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

[[Page 51678]]

reporting burden. The purpose of this notice is to allow for 60 days of 
public comment preceding submission of the collection to OMB. 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.

DATES: To ensure consideration, comments regarding this proposed 
information collection must be received on or before October 20, 2020.

ADDRESSES: Interested persons are invited to submit written comments to 
Mitchell Harrison, Program Analyst, Performance and National Programs 
Division, Economic Development Administration, U.S. Department of 
Commerce, via email to [email protected]. You may also submit comments 
to [email protected]. You may submit attachments to electronic 
comments in Microsoft Word, Excel, and Adobe PDF file formats.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
specific questions related to collection activities should be directed 
to Mitchell Harrison, Program Analyst, Performance and National 
Programs Division, Economic Development Administration, U.S. Department 
of Commerce, at (202) 428-4696 or via email to [email protected].

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. EDA RLF regulations therefore require 
RLF recipients to submit to EDA Form ED-209, RLF Financial Report, 
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.
    EDA is currently in the process of awarding numerous new grants to 
capitalize RLFs. This has increased the estimated number of respondents 
that will be required to submit Form ED-209 and the estimated number of 
burden hours associated with Form ED-209. On March 27, 2020, Congress 
enacted the Coronavirus Aid, Relief, and Economic Security Act (Pub. L. 
116-136), appropriating $1,500,000,000 in supplemental funds to EDA to 
``prevent, prepare for, and respond to coronavirus . . . including for 
necessary expenses for responding to economic injury as a result of 
coronavirus.'' EDA is using a significant portion of those funds to 
fund RLF awards. As a result, the number of respondents required to 
submit Form ED-209 will increase substantially. 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 increasing because of 
the increased number of RLF awards and respondents required to complete 
Form ED-209.

II. Method of Collection

    Currently, RLF recipients must complete and submit Form ED-209 
using an EDA-provided fillable PDF (Portable Document Format) form. 
However, EDA anticipates transitioning to an online platform for 
reporting through which RLF recipients will be required to submit the 
information collected by Form ED-209.

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: 1,700.
    Estimated Time per Response: 3 hours.
    Estimated Total Annual Burden Hours: 5,100.
    Estimated Total Annual Cost to Public: $294,984 (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

    Comments are invited on: (a) Whether the proposed 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 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (d) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.
    All comments submitted in response to this notice are a part of the 
public record and will be made available to the public, which may 
include posting them on the Regulations.gov website. Comments will 
generally be posted without change. Please do not include information 
of a confidential nature, such as sensitive personal information or 
proprietary information. All Personally Identifiable Information (for 
example, name and address) voluntarily submitted may be publicly 
accessible. If you send an email comment, your email address will be 
automatically captured and included as part of the comment that is 
placed in the public docket. Please note that comments that include a 
message stating the confidentiality of the communication will be 
treated as public comments and will be made available to the public.

Sheleen Dumas,
Department PRA Clearance Officer, Office of the Chief Information 
Officer, Commerce Department.
[FR Doc. 2020-18363 Filed 8-20-20; 8:45 am]
BILLING CODE 3510-WH-P