Notice and Request for Information-Opportunities and Challenges in Federal Community Investment Programs, 60236-60239 [2022-21524]
Download as PDF
<![CDATA[
khammond on DSKJM1Z7X2PROD with NOTICES
60236
Federal Register / Vol. 87, No. 191 / Tuesday, October 4, 2022 / Notices
• For employees:
(1) Name (first, middle, last)
(2) SSN
(3) Verification request code
(4) Processed date
(5) Non-verifiable indicator
(6) Wage amount
(7) Reporting period
• For employers of individuals in the
QW file of the NDNH:
(1) Name
(2) Employer identification number
(3) Address(es)
• Transmitter Agency Code
• Transmitter State Code
• State or Agency Name
OCSE will provide electronically to
SSA the following data elements from
the NDNH UI file:
• UI record identifier
• Processed date
• SSN
• Verification request code
• Name (first, middle, last)
• Address
• UI benefit amount
• Reporting period
• Transmitter Agency Code
• Transmitter State Code
• State or Agency Name
Data Elements SSA updates in the
OCSE Financial Items (OCSEFITM)
table if there is a match:
• QW record identifier
• For employees:
(1) Employee’s SSN
(2) Employee’s wage amount
(3) Reporting period
• For employers of individuals:
(1) Employer identification number
(2) Employer’s name
• Unemployment Insurance
identifier:
(1) Claimant SSN
(2) Unemployment insurance benefit
amount
(3) Reporting period
(4) Transmitter State Name
System(s) of Records: SSA’s SOR is
the Medicare Database (MDB) file SOR,
No. 60–0321, last fully published at 71
Federal Register (FR) 42159 (July 25,
2006), and amended at 72 FR 69723
(December 10, 2007), and 83 FR 54969
(November 1, 2018).
OCSE will match SSA’s information
in the MDB against the QW and UI
information furnished by state and
federal agencies maintained in its SOR,
‘‘OCSE National Directory of New
Hires’’ (NDNH), No. 09–80–0381,
published in the Federal Register on
April 2, 2015 at 80 FR 17906 and
amended at 83 FR 6591 (February 14,
2018), and 85 FR 546 (January 6, 2020).
[FR Doc. 2022–21526 Filed 10–3–22; 8:45 am]
BILLING CODE 4191–02–P
VerDate Sep<11>2014
16:48 Oct 03, 2022
Jkt 259001
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
FAA Advisory Circular 187–1, Flight
Standards Service Schedule of
Charges Outside the United States
Federal Aviation
Administration (FAA), Department of
Transportation (DOT).
Issued in Washington, DC, on September
29, 2022.
Wesley L. Mooty,
Executive Deputy Director, Flight Standards
Service (AFX–2A).
[FR Doc. 2022–21487 Filed 10–3–22; 8:45 am]
BILLING CODE 4910–13–P
AGENCY:
Notice of availability of agency
guidance.
ACTION:
This notice announces the
availability of FAA Advisory Circular
(AC) 187–1R, Flight Standards Service
Schedule of Charges Outside the United
States. The FAA has revised AC 187–1
to reflect updated schedule of charges
for services of Federal Aviation
Administration (FAA) Flight Standards
Service (AFS) aviation safety inspectors
(ASI) outside the United States. AC
187–1 has been updated in accordance
with the procedures listed in the Code
of the Federal Register, Appendix A.
SUMMARY:
This AC is applicable on October
1, 2022.
DATES:
How to obtain copies: A
copy of this publication may be
downloaded from: https://www.faa.gov/
regulations_policies/advisory_circulars.
ADDRESSES:
Ms.
Tish Thompkins, Flight Standards
Service, AFS–50, Federal Aviation
Administration, 800 Independence
Avenue SW, Washington, DC 20591;
(202) 267–0996; tish.thompkins@
faa.gov.
FOR FURTHER INFORMATION CONTACT:
On April
19, 1995, the FAA amended Title 14 of
the Code of Federal Regulations (14
CFR) part 187, ‘‘Fees for Certification
Services and Approvals Performed
Outside the United States’’ (60 FR
19628–01, April 19, 1995), which
established the methodology for
determining these charges. In this rule,
the FAA stated it would publish these
fees in an AC. Refer to Appendix A to
Part 187, section (n). The FAA reviews
the actual costs incurred in the services
listed in Appendix 1 at the beginning of
each fiscal year. The FAA will do this
using the same fee methodology
described in part 187 appendix A. The
FAA will amend the schedule of charges
on an annual basis to either increase or
decrease fees, as needed. The FAA will
publish each amended schedule in the
Federal Register and as a revision to
this AC. AC 187–1 may be found at
https://www.faa.gov/regulations_
policies/advisory_circulars/.
SUPPLEMENTARY INFORMATION:
PO 00000
Frm 00128
Fmt 4703
Sfmt 4703
DEPARTMENT OF THE TREASURY
Notice and Request for Information—
Opportunities and Challenges in
Federal Community Investment
Programs
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.
AGENCY:
The Interagency Community
Investment Committee (ICIC) is focused
on the operations and execution of
federal programs that facilitate the flow
of capital and the provision of financial
resources into historically underserved
communities, including communities of
color, rural communities, and Tribal
nations. The ICIC is composed of
representatives from 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).
The Agencies invite 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.
DATES: Responses must be received by
December 5, 2022 to be assured of
consideration.
SUMMARY:
Please submit comments
electronically through the Federal
eRulemaking Portal: https://
www.regulations.gov. 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,
ADDRESSES:
E:\FR\FM\04OCN1.SGM
04OCN1
Federal Register / Vol. 87, No. 191 / Tuesday, October 4, 2022 / Notices
khammond on DSKJM1Z7X2PROD with NOTICES
comments received will be posted on
https://www.regulations.gov 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
ORPCommunityDevRFI@treasury.gov.
Further information may be obtained
from the Treasury website detailing the
initiative.
SUPPLEMENTARY INFORMATION:
Purpose: This Request for Information
(RFI) offers the public the opportunity
to provide information on effective
approaches for supporting access to
affordable capital and financial services
in historically underserved
communities, including communities of
color, rural communities, and Tribal
communities. Specifically, the ICIC 1
would like to understand (1) examples
of successful projects that have blended
different sources of public, private and
philanthropic capital that may have
been more difficult to accomplish or
realize the full impact because of federal
program requirements; and (2) how
agencies can, to the extent feasible
under the requirements governing the
deployment of federal funds, support
financial intermediaries that serve these
communities such as Community
Development Financial Institutions
(CDFIs), Minority Depository
Institutions (MDIs), credit unions, and
other community financial institutions.2
Background: 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
1 Treasury is providing administrative support to
the ICIC.
2 For the purposes of this RFI, community
financial institutions are intended to mean
community development financial institutions
(CDFIs), minority depository institutions (MDIs),
community banks and credit unions as well as any
other mission focused lender or investor that
provides capital in low-to-moderate income
communities and historically underserved
populations.
VerDate Sep<11>2014
16:48 Oct 03, 2022
Jkt 259001
growth in historically underserved
communities and address racial and
geographic economic disparities.
The Agencies implement multiple
community investment programs with
the aim of investing in communities,
businesses, neighborhoods, and
households that are underserved with
respect to access to affordable capital
and financial services, and that
experience economic disparities that
limit their financial stability and
economic mobility. Today, agencies
have an opportunity to assess, within
community investment programs’
statutory frameworks, how best to
facilitate constructive alignment and
flexibility to incentivize private sector
investment leveraging this historic
opportunity for catalytic growth. In
addition, both research and practice
over the past decade have informed our
understanding of how to most
effectively advance economic mobility
among underserved populations,
recognizing that needs and best
practices may vary based on population,
local economic circumstances, Tribal
history, and other key factors. There is
an opportunity to integrate these lessons
in a consistent manner across federal
programs, as well as offer a framework
to guide private sector resources toward
areas of historic underinvestment.
How to Comment: This RFI is only for
information and planning purposes and
should not be construed as an obligation
on the part of the Agencies. We ask
respondents to address the Key
Questions listed below. You do not need
to address every question and should
focus on those where you have views or
relevant expertise. Please clearly
indicate which questions you are
addressing in your response. You may
provide detailed responses and
examples. All comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. You should only submit
information that you wish to make
publicly available.
The ICIC is focused on four key areas
of substantive focus to promote
economic conditions that reduce racial
disparities and produce stronger
economic outcomes for all communities:
(1) Strengthening the capacity of
community financial institutions such
as CDFIs, MDIs, Revolving Loan Funds
(RLFs), community banks and credit
unions as well as any other missionfocused lender or investor that provides
capital in low- to moderate-income
communities and to historically
underserved populations;
(2) Starting and scaling small
businesses among historically
PO 00000
Frm 00129
Fmt 4703
Sfmt 4703
60237
underserved communities, especially
minority entrepreneurship;
(3) Broadening financial inclusion
and provision of financial services
among historically underserved
communities; and
(4) Investing in community facilities
and infrastructure to improve access to
assets and resources that bolster
economic mobility and generate
community wealth.
To assist with responding to RFI
questions, a brief but non-exhaustive list
of agency programs within the key areas
of substantive focus are listed at the end
of this RFI.
Key Questions
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 nonexhaustive 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?
E:\FR\FM\04OCN1.SGM
04OCN1
60238
Federal Register / Vol. 87, No. 191 / Tuesday, October 4, 2022 / Notices
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?
Commerce .......................................
DOT .................................................
HUD ................................................
Treasury ..........................................
SBA .................................................
USDA ..............................................
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:
EDA Build to Scale, EDA Revolving Loan Funds.
Thriving Communities,* Reconnecting Communities.
Federal Housing Administration, Ginnie Mae, Section 108, HOME Investment Partnership, Housing Trust
Fund.
Emergency Capital Investment Fund (ECIP), CDFI Fund, State Small Business Credit Initiative (SSBCI).
Community Advantage, Microloan programs, 7(a) Loan Program, 504 Loan Program, Program for Investment in Micro-Entrepreneurs (PRIME) grants.
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 .......................................
DOT .................................................
HUD ................................................
Treasury ..........................................
SBA .................................................
USDA ..............................................
Minority Business Development Agency (MBDA) programs:
• SSBCI Technical Assistance Program.
• National Business Center Network Program.
• Specialty Centers.
• American Indian, Alaska Native, and Native Hawaiian Projects.
• Enterprising Women of Color Program.
• Entrepreneurship Education for Formerly Incarcerated Persons Pilot.
• Minority Colleges and University Pilot.
• MBE Equity Multiplier Project.
• Inner City Innovation Hub Pilot.
EDA Build to Scale, EDA Revolving Loan Funds.
Railroad Rehabilitation and Improvement Financing (RRIF), Transportation Infrastructure Finance and Innovation Act (TIFIA), Small Business Transportation Resource Centers.*
Community Development Block Grant, Section 3.
ECIP, CDFI Fund, SSBCI.
All programs.
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 highquality jobs and access to consumer credit,
payments, and savings products:
Commerce .......................................
khammond on DSKJM1Z7X2PROD with NOTICES
DOT .................................................
HUD ................................................
Treasury ..........................................
SBA .................................................
USDA ..............................................
VerDate Sep<11>2014
16:48 Oct 03, 2022
EDA Good Jobs Challenge, EDA Build Back Better Regional Challenge, MBDA Access to Capital: Innovative Finance Pilot.
N/A.
Housing Counseling, Community Development Block Grant, Section 3, Asset Building Programs (e.g.,
Family Self-Sufficient, Resident Opportunities and Self-Sufficiency).
State and Local Fiscal Recovery Fund, Emergency Rental Assistance Program, ECIP, CDFI Fund.
All programs.
Rural Innovation Stronger Economy, Rural Economic Development Loan and Grant.
Jkt 259001
PO 00000
Frm 00130
Fmt 4703
Sfmt 4703
E:\FR\FM\04OCN1.SGM
04OCN1
Federal Register / Vol. 87, No. 191 / Tuesday, October 4, 2022 / Notices
IV. Expand Community Infrastructure
Programs that support the preservation or
development of affordable housing,
Commerce .......................................
DOT .................................................
HUD ................................................
Treasury ..........................................
SBA .................................................
USDA ..............................................
60239
community facilities, public transportation,
and high-quality broadband:
EDA Build Back Better Regional Challenge.
NTIA Technical Assistance and Infrastructure programs, including:
• Connecting Minority Communities Program.
• Broadband Infrastructure Program.
• Tribal Broadband Connectivity Program.
• Broadband Equity, Access, and Deployment Program (BEAD).
• Middle Mile Broadband Infrastructure Grant Program.
• State Digital Equity Planning Grant Program.
• Digital Equity Competitive Grant Program.
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.
Section 108, Community Development Block Grant, HOME Investment Partnership, Project-Based Rental
Assistance, Project Based Vouchers, FHA Mortgage Insurance, Housing Trust Fund, Choice Neighborhoods.
State and Local Fiscal Recovery Fund, Capital Projects Fund, Homeowners Assistance Fund, Low-Income
Housing Tax Credit.
504 Loan Program, Contracting Assistance Programs.
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. 2022–21524 Filed 10–3–22; 8:45 am]
BILLING CODE P
DEPARTMENT OF THE TREASURY
Call for Nominations for Secretary
Appointment to Treasury Tribal
Advisory Committee
Department of the Treasury.
ACTION: Notice.
AGENCY:
This notice announces that
the Designated Federal Officer of the
Department of the Treasury Tribal
Advisory Committee (TTAC),
established pursuant to the Tribal
General Welfare Exclusion Act of 2014
(TGWEA), seeks nominations on behalf
of the Secretary of the Treasury
(Secretary) for the appointment of one
member to the TTAC. Under section 3
of the TGWEA, the TTAC was
established to advise the Secretary on
matters related to the taxation of
Indians, training and education for
Internal Revenue Service (IRS) field
agents who administer and enforce
internal revenue laws with respect to
Indian tribes, and training and technical
assistance for tribal financial officers.
Nominations should describe the
candidate’s qualifications for TTAC
membership. Submittal of an
application and resume is required. This
request for nominations, particularly
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
VerDate Sep<11>2014
16:48 Oct 03, 2022
Jkt 259001
from tribal leaders, is in furtherance of
the objectives of the Presidential
Memorandum of January 26, 2021
(Tribal Consultation and Strengthening
Nation-to-Nation Relationships), which
requires each agency to prepare and
periodically update a detailed plan of
action to implement the policies and
directives of an Executive Order under
which the Department of the Treasury
consults with tribal officials in the
development of Federal policies that
have Tribal implications, to reinforce
the United States government-togovernment relationships with Indian
tribes, and to reduce the imposition of
unfunded mandates upon Indian tribes.
DATES: Please submit applications for
appointment by the Secretary to the
TTAC or the names and qualifications of
individuals you would recommend for
appointment to the TTAC by the
Secretary before November 18, 2022.
ADDRESSES: Please send applications or
recommendations to TTAC@
treasury.gov, with a subject line
‘‘Treasury Tribal Advisory Committee
member application or
recommendation.’’ Self-nominations are
welcome. The Department of the
Treasury will accept applications for
Secretarial appointments to the TTAC
until November 18, 2022.
FOR FURTHER INFORMATION CONTACT:
Krishna P. Vallabhaneni, Designated
Federal Officer for the TTAC, by
PO 00000
Frm 00131
Fmt 4703
Sfmt 4703
emailing TTAC@treasury.gov, or by
calling (202) 622–2000 (this is not a tollfree number). Persons who have
difficulty hearing or speaking may
access this number via TTY by calling
the toll-free Federal Relay Service at
(800) 877–8339.
SUPPLEMENTARY INFORMATION:
Background
I. Description and Mandate of the
TTAC
Section 3 of the TGWEA, Public Law
113–68, 128 Stat. 1883 (Sept. 26, 2014),
directs the Secretary of the Treasury to
establish a Tribal Advisory Committee
to advise the Secretary on matters
related to the taxation of Indians, the
training of Internal Revenue Service
field agents, and the provision of
training and technical assistance to
Native American financial officers.
Pursuant to Section 3 of the TGWEA
and in accordance with the provisions
of the Federal Advisory Committee Act
(FACA), 5 U.S.C. App. 1 et seq., the
TTAC was established on February 10,
2015, as the ‘‘U.S. Department of the
Treasury Tribal Advisory Committee.’’
The TTAC’s Charter provides that it
shall operate under the provisions of the
FACA and shall advise and report to the
Secretary on:
(1) Matters related to the taxation of
Indians;
E:\FR\FM\04OCN1.SGM
04OCN1
]]>Agencies
[Federal Register Volume 87, Number 191 (Tuesday, October 4, 2022)]
[Notices]
[Pages 60236-60239]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21524]
=======================================================================
-----------------------------------------------------------------------
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.
-----------------------------------------------------------------------
SUMMARY: The Interagency Community Investment Committee (ICIC) is
focused on the operations and execution of federal programs that
facilitate the flow of capital and the provision of financial resources
into historically underserved communities, including communities of
color, rural communities, and Tribal nations. The ICIC is composed of
representatives from 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). The Agencies invite 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.
DATES: Responses must be received by December 5, 2022 to be assured of
consideration.
ADDRESSES: Please submit comments electronically through the Federal
eRulemaking Portal: https://www.regulations.gov. 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,
[[Page 60237]]
comments received will be posted on https://www.regulations.gov 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 [email protected]. Further
information may be obtained from the Treasury website detailing the
initiative.
SUPPLEMENTARY INFORMATION:
Purpose: This Request for Information (RFI) offers the public the
opportunity to provide information on effective approaches for
supporting access to affordable capital and financial services in
historically underserved communities, including communities of color,
rural communities, and Tribal communities. Specifically, the ICIC \1\
would like to understand (1) examples of successful projects that have
blended different sources of public, private and philanthropic capital
that may have been more difficult to accomplish or realize the full
impact because of federal program requirements; and (2) how agencies
can, to the extent feasible under the requirements governing the
deployment of federal funds, support financial intermediaries that
serve these communities such as Community Development Financial
Institutions (CDFIs), Minority Depository Institutions (MDIs), credit
unions, and other community financial institutions.\2\
---------------------------------------------------------------------------
\1\ Treasury is providing administrative support to the ICIC.
\2\ For the purposes of this RFI, community financial
institutions are intended to mean community development financial
institutions (CDFIs), minority depository institutions (MDIs),
community banks and credit unions as well as any other mission
focused lender or investor that provides capital in low-to-moderate
income communities and historically underserved populations.
---------------------------------------------------------------------------
Background: 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.
The Agencies implement multiple community investment programs with
the aim of investing in communities, businesses, neighborhoods, and
households that are underserved with respect to access to affordable
capital and financial services, and that experience economic
disparities that limit their financial stability and economic mobility.
Today, agencies have an opportunity to assess, within community
investment programs' statutory frameworks, how best to facilitate
constructive alignment and flexibility to incentivize private sector
investment leveraging this historic opportunity for catalytic growth.
In addition, both research and practice over the past decade have
informed our understanding of how to most effectively advance economic
mobility among underserved populations, recognizing that needs and best
practices may vary based on population, local economic circumstances,
Tribal history, and other key factors. There is an opportunity to
integrate these lessons in a consistent manner across federal programs,
as well as offer a framework to guide private sector resources toward
areas of historic underinvestment.
How to Comment: This RFI is only for information and planning
purposes and should not be construed as an obligation on the part of
the Agencies. We ask respondents to address the Key Questions listed
below. You do not need to address every question and should focus on
those where you have views or relevant expertise. Please clearly
indicate which questions you are addressing in your response. You may
provide detailed responses and examples. All comments received,
including attachments and other supporting materials, are part of the
public record and subject to public disclosure. You should only submit
information that you wish to make publicly available.
The ICIC is focused on four key areas of substantive focus to
promote economic conditions that reduce racial disparities and produce
stronger economic outcomes for all communities:
(1) Strengthening the capacity of community financial institutions
such as CDFIs, MDIs, Revolving Loan Funds (RLFs), community banks and
credit unions as well as any other mission-focused lender or investor
that provides capital in low- to moderate-income communities and to
historically underserved populations;
(2) Starting and scaling small businesses among historically
underserved communities, especially minority entrepreneurship;
(3) Broadening financial inclusion and provision of financial
services among historically underserved communities; and
(4) Investing in community facilities and infrastructure to improve
access to assets and resources that bolster economic mobility and
generate community wealth.
To assist with responding to RFI questions, a brief but non-
exhaustive list of agency programs within the key areas of substantive
focus are listed at the end of this RFI.
Key Questions
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?
[[Page 60238]]
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.
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:
SSBCI Technical
Assistance Program.
National Business Center
Network Program.
Specialty Centers.
American Indian, Alaska
Native, and Native Hawaiian
Projects.
Enterprising Women of
Color Program.
Entrepreneurship
Education for Formerly
Incarcerated Persons Pilot.
Minority Colleges and
University Pilot.
MBE Equity Multiplier
Project.
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.
------------------------------------------------------------------------
[[Page 60239]]
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:
Connecting Minority
Communities Program.
Broadband Infrastructure
Program.
Tribal Broadband
Connectivity Program.
Broadband Equity,
Access, and Deployment Program
(BEAD).
Middle Mile Broadband
Infrastructure Grant Program.
State Digital Equity
Planning Grant Program.
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.
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. 2022-21524 Filed 10-3-22; 8:45 am]
BILLING CODE P
