[Federal Register Volume 59, Number 65 (Tuesday, April 5, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8017]


[[Page Unknown]]

[Federal Register: April 5, 1994]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Secretary
[Docket No. N-94-3038; FR-2736-N-11]

 

Regulatory Waiver Requests Granted

AGENCY: Office of the Secretary, HUD.

ACTION: Public notice of the granting of regulatory waivers.

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SUMMARY: Under section 106 of the Department of Housing and Urban 
Development Reform Act of 1989 (Reform Act), the Department is required 
to make public all approval actions taken on waivers of regulations. 
This Notice provides notification of waivers granted during the period 
from March 1 to September 30, 1993.

FOR FURTHER INFORMATION CONTACT:
For general information about this Notice, contact Myra L. Ransick, 
Assistant General Counsel for Regulations, room 10276, Department of 
Housing and Urban Development, 451 Seventh Street, SW., Washington, DC 
20410; (202) 708-3055; (TDD) (202) 708-3259. (These are not toll-free 
numbers.) For information concerning a particular waiver action, 
contact the person whose name and address is set out for the particular 
item in the accompanying list of waiver-grant actions.

SUPPLEMENTARY INFORMATION: Section 106 of the Reform Act amended 
section 7 of the Department of Housing and Urban Development Act (42 
U.S.C. 3535(q)(3)) to provide:
    1. Any waiver of a regulation must be in writing and must specify 
the grounds for approving the waiver;
    2. Authority to approve a waiver of a regulation may be delegated 
by the Secretary only to an individual of Assistant Secretary rank or 
equivalent rank, and the person to whom authority to waive is delegated 
must also have authority to issue the particular regulation to be 
waived;
    3. Not less than quarterly, the Secretary must notify the public of 
all waivers of regulations that the Department has approved, by 
publishing a notice in the Federal Register. These Notices (each 
covering the period since the most recent previous notification) shall:
    a. Identify the project, activity, or undertaking involved;
    b. Describe the nature of the provision waived, and the designation 
of the provision;
    c. Indicate the name and title of the person who granted the waiver 
request;
    d. Describe briefly the grounds for approval of the request;
    e. State how additional information about a particular waiver grant 
action may be obtained.
    Today's document notifies the public of HUD's waiver-grant activity 
from March 1 to September 30, 1993. The next Notice, which will be 
published in the near future, will cover the period from October 1 
through December 31, 1993.
    For ease of reference, waiver requests granted by departmental 
officials authorized to grant waivers are listed in a sequence keyed to 
the section number of the HUD regulation involved in the waiver action. 
For example, a waiver-grant action involving exercise of authority 
under 24 CFR 24.200 (involving the waiver of a provision in part 24) 
would come early in the sequence, while waivers in the section 8 and 
section 202 programs (24 CFR chapter VIII) would be among the last 
matters listed. Where more than one regulatory provision is involved in 
the grant of a particular waiver request, the action is listed under 
the section number of the first regulatory requirement in title 24 that 
is being waived as part of the waiver-grant action. (For example, a 
waiver of both Sec. 811.105(b) and Sec. 811.107(a) would appear 
sequentially in the listing under Sec. 811.105(b).) Waiver-grant 
actions involving the same initial regulatory citation are in time 
sequence beginning with the earliest-dated waiver-grant action.
    Should the Department receive additional reports of waiver actions 
taken during the period covered by this report before the next report 
is published, the next updated report will include these earlier 
actions.
    Accordingly, information about approved waiver requests pertaining 
to regulations of the Department is provided in the Appendix to this 
Notice.

    Dated: March 24, 1994.
Henry G. Cisneros,
Secretary.

Appendix--Listing of Waivers of Regulatory Requirements Granted by 
Officers of the Department of Housing and Urban Development March 1, 
1993 Through September 30, 1993

    Note to reader: The person to be contacted for additional 
information about the waiver-grant items in this listing is: Oliver 
Walker, Chief, Directives, Reports and Forms Branch, Office of 
Housing, Management Division, Department of Housing and Urban 
Development, 451 Seventh Street, SW., Washington, DC 20410, 
Telephone: (202) 708-1694.

    1. Regulation: 24 CFR 248.233(f)--Prepayment of Low Income Housing 
Mortgages.
    Project/Activity: Multiple projects under the control of Carabetta. 
Enterprises, Inc., Managing General Partner.
    Nature of Requirement: The Regulation prohibits Approvals of Plans 
of Action when audit findings remain open.
    Granted By: Nicolas P. Retsinas, Assistant Secretary For Housing-
Federal Housing Commissioner.
    Date Granted: September 23, 1993.
    Background: This is in response to William Hernandez's memorandum, 
dated July 7, 1993, requesting a blanket waiver of the subject 
regulation with respect to 26 Plans of Action for which Carabetta 
Enterprises, Inc. (CEI) or Joseph Carabetta is the managing general 
partner. The request for the waiver is required because an audit report 
issued by the Regional Inspector General for Audit on March 5, 1993, 
cited CEI for the improper diversion of funds from project accounts 
and/or the nonpayment of section 236 Excess Income totalling 
approximately $7.5 million from 40 properties, including the 26 for 
which the Plans of Action have been filed. The subject regulation 
prohibits approval of any Plan of Action so long as audit findings are 
outstanding.
    Reason Waived: The mortgagors propose to resolve the audit findings 
by repaying the diverted funds out of equity proceeds distributed as 
incentives pursuant to Plans of Action approved under the Emergency 
Low-Income Housing Preservation Act of 1987 (ELIHPA). Your office has 
also proposed a penalty in the amount of $3 million in lieu of pursuing 
civil money penalties or affirmative litigation for double damages. 
Further, your office proposes to collect the full amount of the 
diverted funds and the penalty from the proceeds of the approved Plans 
of Action in toto before the mortgagors may distribute any proceeds to 
the partnerships.
    This office approves the waiver request on the following 
conditions.

Mortgagor Requirements

    All diversions and unpaid section 236 Excess Income, plus interest 
accruing at the Treasury Bill rate from the date of the audit report, 
will be paid back to the project accounts or to the Department as 
appropriate from equity distributed pursuant to approved Plans of 
Action. All diversions must be restored and all unpaid Excess income 
must be repaid prior to the mortgagor retaining any of the equity for 
distribution to any of the partnerships.
    CEI will agree to pay $4,010,000, which represents $5,000 per audit 
violation for 802 violations. The full amount of the payment must be 
remitted to the Department prior to the mortgagor retaining any equity 
distribution from approved Plans of Action to any of the partnerships.
    All diversions repaid to the project account may be used to meet 
accounts payable to unaffiliated vendors. After all such obligations 
have been discharged, the balance of the funds will be deposited into 
the Reserve for Replacement escrow account with the mortgagee. The 
funds may not be used to pay obligations due affiliated or identity-of-
interest vendors, capital advances made by any partnership or partner, 
deposited into the Residual Receipts escrow account or to pay accrued, 
unpaid distributions to any partnership.
    The mortgagors will agree to apply for section 241(f) equity loans 
within five (5) working days of final approval of ELIHPA Plans of 
Action.
    The mortgagors will agree to maintain the properties in good 
physical condition for the term of the use agreement executed as a 
condition for receiving incentives pursuant to an approved ELIHPA Plan 
of Action.
    The mortgagors will agree to submit all required reports timely. 
Such reports will include monthly and quarterly reports of project 
operations, accounts payable and accounts receivable as directed by 
your office.
    The mortgagors will agree that all books, records, files and 
related documents will be available for review, inspection and audit by 
the Department or its designee for the term of the ELIHPA use 
agreement.
    The mortgagors will agree to offer a right of first refusal of sale 
on each property to the Department's designee upon payment in full of 
the mortgage note at the expiration of the mortgage.
    The mortgagors will agree to extend the affordability restrictions 
for a period of not less than 30 years beyond the term of the original 
mortgage for each project for which an ELIHPA Plan of Action is 
approved.
    CEI and Joseph Carabetta will voluntarily agree to be suspended 
from participation in any program/projects operated by the Department 
for a period of two (2) years, reviewable annually by your office upon 
request of CEI or Joseph Carabetta.

Field Office Requirements

    Your office will prepare a schedule of payables due the projects 
and the Department, including all diversions, unpaid section 236 excess 
income, accrued interest and civil money penalties. Upon approval of 
each ELIHPA Plan of Action, the funding request to the Office of 
Preservation and Property Disposition will include an updated copy of 
this schedule showing: interest accrued since the last funding request, 
proceeds of the equity loan and application of the proceeds to project 
accounts, unpaid Excess Income and penalties as appropriate. This 
report will be required until the entire amount of funds owed is 
repaid. Funds will be applied first to diversions and interest, second 
to delinquent excess income and interest, and third to penalties, until 
all are paid.
    Upon approval of an ELIHPA Plan of Action, your office will report 
a waiver of 24 CFR 248.233(f) for the project.
    The first 80% of the penalty is to be remitted to be deposited in 
the Special Risk Insurance Fund. The balance (20%) of the penalty 
should have separate checks issued, on a unit proportionate basis, to 
tenant associations or their legal representatives, of each of the 40 
projects for use as those associations see fit.
    If you have any questions about the terms and conditions of this 
waiver, please call Kevin East at (202) 708-2300.

    2. Regulation: 24 CFR 811.105(b), 811.107(a)(2), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Laurel Woods Housing Finance Corporation 
refunding of bonds which financed a section 8 assisted project, Laurel 
Woods Apartments, FHA No. 073-35444, South Bend, Indiana.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
FHA Commissioner.
    Date Granted: September 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on September 2, 1993. 
Refunding bonds have been priced to an average yield of 6.10%. The tax-
exempt refunding bond issue of $2,775,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt bonds at 
an 11.75% interest rate at the call date in 1993 with tax-exempt bonds 
yielding 6.10%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 11.75% 
to 7.0%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's Section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    3. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Lexington (Tennessee) HFC refunding of bonds 
which financed a section 8 assisted project: Lexington Village 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 1, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
February 24, 1993. Refunding bonds have been priced to an average yield 
of 6.0%. The tax-exempt refunding bond issue of $1,565,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11% at the call date in 1993 with tax-exempt bonds 
yielding 6.07%. The refunding will also substantially reduce the FHA 
mortgage interest rates at expiration of the HAP contract, from 11.5% 
to approximately the bond rate, thus reducing FHA mortgage insurance 
risk. The refunding serves the important public purposes of reducing 
HUD's section 8 program costs, improving Treasury tax revenues (helping 
reduce the budget deficit), and increasing the likelihood that projects 
will continue to provide housing for lower-income families after 
subsidies expire, a priority HUD objective.

    4. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Elkhart, Indiana HFC refunding of bonds which 
financed a section 8 assisted project, Town and Country Apartments (FHA 
No. 073-35454).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 18, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 9, 1993. Refunding 
bonds have been priced to an average yield of 6.6%. The tax-exempt 
refunding bond issue of $2,605,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
11.75% at the call date in 1993 with tax-exempt bonds yielding 6.6%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 11.75% to close to the 
bond rate, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    5. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Lakeside, Indiana HDC refunding of bonds which 
financed a Section 8 assisted project, Lakeside Apartments (FHA No. 
073-35413).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 22, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on January 19, 1993. 
Refunding bonds have been priced to an average yield of 5.98%. The tax-
exempt refunding bond issue of $1,765,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10.2% at the call date in 1993 with tax-exempt bonds yielding 5.98%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.48% to 7.05%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    6. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Salinas, California, RA refunding of bonds which 
financed a section 8 assisted project, La Casas de Madera Apartments 
(FHA No. 121-35759).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 25, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 19, 1992. 
Refunding bonds have been priced to an average yield of 6.02%. The tax-
exempt refunding bond issue of $4,865,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.75% at the call date in 1993 with tax-exempt bonds yielding 
6.02%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% to 6.25%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    7. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Morristown (Tennessee) HDC refunding of bonds 
which financed a section 8 assisted project, Lynnridge Apartments (FHA 
No. 087-35120).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on February 3, 1993. 
Refunding bonds have been priced to an average yield of 6.4%. The tax-
exempt refunding bond issue of $2,670,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10.5% at the call date in 1993 with tax-exempt bonds yielding 6.4%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.74% to 6.95%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    8. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Luzerne (PA) County HFC refunding of bonds which 
financed a section 8 assisted project, Freeland Elderly Project (FHA 
No. 034-35167).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on February 2, 1993. 
Refunding bonds have been priced to an average yield of 6.26%. The tax-
exempt refunding bond issue of $1,870,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.5% at the call date in 1993 with tax-exempt bonds yielding 6.26%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 11.48% to 6.625%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    9. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Hinesville (Georgia) HDC refunding of bonds which 
financed an uninsured section 8 assisted project: Pineland Square 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 31, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
March 23, 1993. Refunding bonds have been priced to an average yield of 
7.28%. The tax-exempt refunding bond issue of $2,740,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 13% at the call date in 1993 with tax-exempt bonds 
yielding 7.28%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, thus reducing 
FHA mortgage insurance risk. The refunding serves the important public 
purposes of reducing HUD's Section 8 program costs, improving Treasury 
tax revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    10. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Birmingham HDC refunding of bonds which financed 
two section 8 assisted projects in Alabama: Janmar and Fair Park 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 23, 1993. 
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,015,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10%-10.75% at the call date in 1993 with tax-exempt bonds yielding 
6.22%. The refunding will also substantially reduce the FHA mortgage 
interest rates at expiration of the HAP contract, from 11.5% to 7.15%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    11. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Savannah HA refunding of bonds which financed a 
section 8 assisted project: Crossroads Villas Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 6, 1993. Refunding 
bonds have been priced to an average yield of 6.08%. The tax-exempt 
refunding bond issue of $1,380,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
13.35% at the call date in 1992 with tax-exempt bonds yielding 6.08%. 
The refunding will also substantially reduce the FHA mortgage interest 
rates at expiration of the HAP contract from 11.5% to a rate close to 
the refunding bond rate, thus reducing FHA mortgage insurance risk. The 
refunding serves the important public purposes of reducing HUD's 
Section 8 program costs, improving Treasury tax revenues (helping 
reduce the budget deficit), and increasing the likelihood that projects 
will continue to provide housing for lower-income families after 
subsidies expire, a priority HUD objective.

    12. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Columbus, Georgia HDC refunding of bonds which 
financed a section 8 assisted project, Moultrie Manor Apartments (FHA 
No. 061-35370).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 14, 1993. 
Refunding bonds have been priced to an average yield of 6.38%. The tax-
exempt refunding bond issue of $2,200,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.49% at the call date in 1993 with tax-exempt bonds yielding 
6.38%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract from 11.75% to 5.5%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    13. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Washoe, Nevada HFC refunding of bonds which 
financed a section 8 assisted project, Washoe Mills Apartments (FHA No. 
125-35088).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 25, 1993. 
Refunding bonds have been priced to an average yield of 6.09%. The tax-
exempt refunding bond issue of $3,440,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10.2% at the call date in 1993 with tax-exempt bonds yielding 6.8%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10% to 6.8%, thus reducing 
FHA mortgage insurance risk. The refunding serves the important public 
purposes of reducing HUD's Section 8 program costs, improving Treasury 
tax revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    14. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Livingston, Georgia HDC refunding of bonds which 
financed a section 8 assisted project, Livingston Meadows Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 23, 1993. 
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,175,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10%-10.75% at the call date in 1993 with tax-exempt bonds yielding 
6.22%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% to 6.05%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    15. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project Activity: Greater Kentucky HAC refunding of bonds which 
financed two section 8 assisted projects: Brown Proctor and California 
Square II Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 3, 1993. Refunding 
bonds have been priced to an average yield of 6.22%. The tax-exempt 
refunding bond issue of $3,150,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 10%-
11.5% at the call date in 1992 with tax-exempt bonds yielding 6.22%. 
The refunding will also substantially reduce the FHA mortgage interest 
rates at expiration of the HAP contract, from 12% to 6.90%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective established by Secretary Kemp.

    16. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project Activity: Allegheny County RA refunding of bonds which 
financed two section 8 assisted projects, Coraopolis Gardens Apartments 
(FHA Number 033-35146) and Verona Gardens Apartments (FHA Number 033-
35147).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: May 4, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 14, 1993. 
Refunding bonds have been priced to an average yield of 5.92%. The tax-
exempt refunding bond issue of $3,415,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.5% at the call date in 1993 with tax-exempt bonds yielding 5.92%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 12% to 6.15%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    17. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Vicksburg, Mississippi HA refunding of bonds 
which financed a section 8 assisted project, New Main Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: May 11, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 6, 1993. Refunding 
bonds have been priced to an average yield of 6.04%. The tax-exempt 
refunding bond issue of $2,205,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
10.25% at the call date in 1993 with tax-exempt bonds yielding 6.04%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.73% to 7.25%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    18. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Baytown, Texas HA refunding of bonds which 
financed a section 8 assisted project, Baytown Terrace Apartments (FHA 
No. 114-35350).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: May 14, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on February 18, 1993. 
Refunding bonds have been priced to an average yield of 6.35%. The tax-
exempt refunding bond issue of $4,355,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.5% at the call date in 1993 with tax-exempt bonds yielding 6.35%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 12% to 6.36%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    19. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: The Greater Tennessee HDC Ohio HFA refunding of 
bonds which financed two section 8 assisted projects: Hendersonville 
and Oakhaven Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retinas, Assistant Secretary for Housing-FHA 
Commissioner.
    Date Granted: May 21, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on April 19, 1993. 
Refunding bonds have been priced to an average yield of 6.09%. The tax-
exempt refunding bond issue of $2,990,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt bonds 
yielding 11.9% at the call date in 1993 with tax-exempt bonds yielding 
6.08%. The refunding will also substantially reduce the FHA mortgage 
interest rates at expiration of the HAP contract, from 11.2% to 6.75%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    20. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Douglas-Coffee LHC (Douglas, Georgia) refunding 
of bonds which financed a section 8 assisted project, Georgian Woods 
Apartments (FHA No. 061-35370).
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
FHA Commissioner.
    Date Granted: May 27, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on May 24, 1993. Refunding 
bonds have been priced to an average yield of 6.08%. The tax-exempt 
refunding bond issue of $1,880,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 11.5% 
at the call date in 1993 with tax-exempt bonds yielding 6.08%. The 
refunding will also substantially reduce the FHA mortgage interest rate 
at expiration of the HAP contract, from 11.77% to a rate commensurate 
with the refunding bond yield, thus reducing FHA mortgage insurance 
risk. The refunding serves the important public purposes of reducing 
HUD's Section 8 program costs, improving Treasury tax revenues, 
(helping reduce the budget deficit), and increasing the likelihood that 
projects will continue to provide housing for lower-income families 
after subsidies expire, a priority HUD objective.

    21. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Memphis, Tennessee HA refunding of bonds which 
financed a section 8 assisted project, Saints Courts Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--
Federal Housing Commissioner.
    Date Granted: May 27, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
February 23, 1993. Refunding bonds have been priced to an average yield 
of 6.05%. The tax-exempt refunding bond issue of $2,845,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 10.5% at the call date in 1993 with tax-exempt bonds 
yielding 6.05%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.74% 
to 5.35%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    22. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Memphis, Tennessee HA refunding of bonds which 
financed a section 8 assisted project, Southwood Townhouses Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--
Federal Housing Commissioner.
    Date Granted: May 27, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 2, 1993. Refunding 
bonds have been priced to an average yield of 6.07%. The tax-exempt 
refunding bond issue of $1,430,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 11.5% 
at the call date in 1993 with tax-exempt bonds yielding 6.07%. The 
refunding will also substantially reduce the FHA mortgage interest rate 
at expiration of the HAP contract, from 12% to 6.41%, thus reducing FHA 
mortgage insurance risk. The refunding serves the important public 
purposes of reducing HUD's section 8 program costs, improving Treasury 
tax revenues (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    23. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3), 
811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Cave Spring, GA HA refunding of bonds which 
financed a section 8 assisted project, Heatherwood Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
FHA Commissioner.
    Date Granted: June 9, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on May 21, 1993. Refunding 
bonds have been priced to an average yield of 6.38%. The tax-exempt 
refunding bond issue of $1,905,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
11.75% at the call date in 1993 with tax-exempt bonds yielding 6.38%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 12% to 7.50%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    24. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: The HDC of Washington refunding of bonds which 
financed two section 8 assisted projects in Seattle: New Central 
Building and Jackson Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
FHA Commissioner.
    Date Granted: June 16, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on June 1, 1993. Refunding 
bonds have been priced to an average yield of 5.95%. The tax-exempt 
refunding bond issue of $1,400,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt bonds yielding 
5.95%. The refunding will also substantially reduce the FHA mortgage 
interest rates at expiration of the HAP contract, from 11.5% to 6.15%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    25. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Birmingham, Alabama HA refunding of bonds which 
financed a section 8 assisted project, Roosevelt Manor Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on June 8, 1993. Refunding 
bonds have been priced to an average yield of 6.10%. The refunding will 
also substantially reduce the FHA mortgage interest tax-exempt 
refunding bond issue of $1,210,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 10% 
to 10.75% at the call date in 1993 with tax-exempt bonds yielding 
6.10%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 11.78% to 6.70%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    26. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project Activity: Enterprise, Alabama HA refunding of bonds which 
financed a section 8 assisted project, Meadowbrook Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on May 24, 1, 1993. 
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,870,000 at current low-interest rates 
will save Section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11% to 12% at the call date in 1993 with tax-exempt bonds yielding 
6.22%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% to 6.8%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's Section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    27. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Russellville, Alabama HA refunding of bonds which 
financed a section 8 assisted project, Village Square Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
June 2, 1993. Refunding bonds have been priced to an average yield of 
6.10%. The tax-exempt refunding bond issue of $1,500,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.5% at the call date in 1993 with tax-exempt bonds 
yielding 6.10%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 12% to 
5.55%, thus reducing FHA mortgage insurance risk. The refunding serves 
the important public purposes of reducing HUD's section 8 program 
costs, improving Treasury tax revenues, (helping reduce the budget, 
deficit), and increasing the likelihood that projects will continue to 
provide housing for lower-income families after subsidies expire, a 
priority HUD objective.

    28. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: The Industrial Development Authority of the 
County of Maricopa, AZ refunding of bonds which financed one Section 8 
assisted project in Guadalupe (Arizona), Barrio Nuevo.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
FHA Commissioner.
    Date Granted: June 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR Sec. 207.259(e) to call debentures prior to 
maturity. This refunding proposal was approved by HUD on June 11, 1993. 
Refunding bonds have been priced to an average yield of 5.90%. The tax-
exempt refunding bond issue of $2,880,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt bonds 
yielding 11.75% at the call date in 1993 with tax-exempt bonds yielding 
5.90%. The refunding will also substantially reduce the FHA mortgage 
interest rates at expiration of the HAP contract, from 12.00% to 6.80%, 
thus reducing FHA mortgage insurance risk. Several liens placed on the 
project will be substantially forgiven and through the HUD required TPA 
this will become a stand-alone project to which no other liens can be 
attached. The refunding serves the important public purposes of 
reducing HUD's section 8 program costs, improving Treasury tax 
revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    29. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3), 
811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Allegheny County, Pennsylvania HA refunding of 
bonds which financed a section 8 assisted project, Grayson Court 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
June 15, 1993. Refunding bonds have been priced to an average yield of 
6.04%. The tax-exempt refunding bond issue of $1,640,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11% at the call date in 1993 with tax-exempt bonds 
yielding 6.04%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract from 11.23% to 
6.90%, thus reducing FHA mortgage insurance risk. The refunding serves 
the important public purposes of reducing HUD's Section 8 program 
costs, improving Treasury tax revenues, (helping reduce the budget 
deficit), and increasing the likelihood that projects will continue to 
provide housing for lower-income families after subsidies expire, a 
priority HUD objective.

    30. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Allegheny County, Pennsylvania HA refunding of 
bonds which financed a section 8 assisted project, Swissvale 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
June 8, 1993. Refunding bonds have been priced to an average yield of 
6.0%. The tax-exempt refunding bond issue of $3,850,000 at current low-
interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds 
yielding 6.0%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.66% 
to 6.6%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    31. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: The Outer Drive HFC (instrumentality of the City 
of Detroit) refunding of bonds which financed a Section 8 assisted 
project, the Greenhouse Project.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
May 7, 1993. Refunding bonds have been priced to an average yield of 
6.03%. The tax-exempt refunding bond issue of $7,575,000 at current 
low-interest rates will save Section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.5% at the call date in 1993 with tax-exempt bonds 
yielding 6.03%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 11.5% to 
5.25%, thus reducing FHA mortgage insurance risk. The refunding serves 
the important public purposes of reducing HUD's section 8 program 
costs, improving Treasury tax revenues, (helping reduce the budget 
deficit), and increasing the likelihood that projects will continue to 
provide housing for lower-income families after subsidies expire, a 
priority HUD objective.

    32. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Vicksburg, MS HA refunding of bonds which 
financed a Section 8 assisted project, Magnolia Manor Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: July 20, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount. HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on June 17, 1993. Refunding 
bonds have been priced to an average yield of 5.84%. The tax-exempt 
refunding bond issue of $2,590,000 at current low-interest rates will 
save Section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
9.75%-10% at the call date in 1993 with tax-exempt bonds yielding 
5.84%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 10.5% to 7.10%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    33. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Dayton, Tennessee HA refunding of bonds which 
financed a section 8 assisted project, Pikeville Townhouses, FHA No. 
087-35146.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: July 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on June 17, 1993. Refunding 
bonds have been priced to an average yield of 5.82%. The tax-exempt 
refunding bond issue of $2,450,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax exempt coupons of 11%-
11.25% at the call date in 1993 with tax-exempt bonds yielding 5.82%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 11.74% to 6.95%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    34. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Springfield, Tennessee HA refunding of bonds 
which financed a section 8 assisted project, Southfield Apartments, FHA 
No. 086-35189.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--
Federal Housing Commissioner.
    Date Granted: July 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on June 23, 1993. Refunding 
bonds have been priced to an average yield of 6.11%. The tax-exempt 
refunding bond issue of $2,430,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax exempt coupons of 9.5%-
11% at the call date in 1993 with tax-exempt bonds yielding 6.11%. The 
refunding will also substantially reduce the FHA mortgage interest rate 
at expiration of the HAP contract, from 10.85% to 6.5%, thus reducing 
FHA mortgage insurance risk. The refunding serves the important public 
purposes of reducing HUD's section 8 program costs, improving Treasury 
tax revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    35. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Dayton, Kentucky HA refunding of bonds which 
financed a section 8 assisted project, Speers Court Apartments, FHA No. 
083-35566.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: July 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on March 15, 1993. 
Refunding bonds have been priced to an average yield of 5.91%. The tax-
exempt refunding bond issue of $2,815,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 11.75% at the call date in 1993 with tax-exempt bonds yielding 
5.91%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% to 6.25%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    36. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project Activity: Cleveland, Tennessee HA refunding of bonds which 
financed a section 8 assisted project, Ocoee Village Apartments, FHA 
No. 087-35150.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: July 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on July 9, 1993. Refunding 
bonds have been priced to an average yield of 6.13%. The tax-exempt 
refunding bond issue of $1,265,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 
10.4%-11.5% at the call date in 1993 with tax-exempt bonds yielding 
6.13%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 11.57% to 6.75%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    37. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    Project/Activity: Morristown, Tennessee HDC refunding of bonds 
which financed a section 8 assisted project, McGhee Square Apartments.
    Nature of Requirements: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: August 11, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
July 15, 1993. Refunding bonds have been priced to an average yield of 
5.94%. The tax-exempt refunding bond issue of $2,700,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.24% at the call date in 1993 with tax-exempt bonds 
yielding 5.94%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 11.49% 
to 5.02%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    38. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    Project/Activity: Greater Arkansas, Marianna, Arkansas HAC 
refunding of bonds which financed a section 8 assisted project Hickey 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--
Federal Housing Commissioner.
    Date Granted: August 20, 1993.
    Reasons Waived: The Part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
July 6, 1993. Refunding bonds have been priced to an average yield of 
5.95%. The tax-exempt refunding bond issue of $1,425,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.14% at the call date in 1993 with tax-exempt bonds 
yielding 5.95%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 12.00% 
to 5.32%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    39. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    Project/Activity: Cheyenne North Housing Development Corporation, 
Cheyenne, Wyoming refunding of bonds which financed a section 8 
assisted project, Cheyenne North Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: August 27, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
August 3, 1993. Refunding bonds have been priced to an average yield of 
5.89%. The tax-exempt refunding bond issue of $2,160,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 9.88% at the call date in 1993 with tax-exempt bonds 
yielding 5.89%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.125% 
to 6.095%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    40. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3), 
811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Albany, New York HA refunding of bonds which 
financed a section 8 assisted project, Mansions Rehab Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 21, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
March 29, 1993. Refunding bonds were sold at an average yield of 6.50%. 
The tax-exempt refunding bond issue of $1,955,000 at current low-
interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.55% at the call date in 1993 with tax-exempt bonds 
yielding 6.50%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 11.75% 
to 8.35%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    41. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
    Project/Activity: Chicago, Metropolitan HDC refunding of bonds 
which financed a section 8 assisted project, Academy Square Apartments, 
FHA No. 071-35493.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 30, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on September 8, 1993. 
Refunding bonds have been priced to an average yield of 5.55%. The tax-
exempt refunding bond issue of $10,675,000 at current low-interest 
rates will save section 8 subsidy. The Treasury also gains long-term 
tax revenue benefits through replacement of outstanding tax-exempt 
coupons of 9.25%-10.125% at the call date in 1993 with tax-exempt bonds 
yielding 5.55%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.22% 
to 6.65%, thus reducing FHA mortgage insurance risk. The refunding 
serves the important public purposes of reducing HUD's section 8 
program costs, improving Treasury tax revenues, (helping reduce the 
budget deficit), and increasing the likelihood that projects will 
continue to provide housing for lower-income families after subsidies 
expire, a priority HUD objective.

    42. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: The Northwestern Regional Housing Authority 
refunding of bonds which financed a section 8 assisted project: 
California Arms Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: March 22, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of a 
refunding transaction in which bonds will be issued under section 103 
of the Tax Code. This refunding proposal was approved by HUD on 
September 21, 1992. Refunding bonds have been priced to an average 
yield of 6.20%. The tax-exempt refunding bond issue of $1,095,000 at 
current low-interest rates will save section 8 subsidy. The Treasury 
also gains long-term tax revenue benefits through replacement of 
outstanding tax-exempt coupons of 11.2% at the call date in 1992 with 
tax-exempt bonds yielding 6.20%. The refunding will also substantially 
reduce the FHA mortgage interest rates at expiration of the HAP 
contract, from 11.2% to 7.45%, thus reducing FHA mortgage insurance 
risk. The refunding serves the important public purposes of reducing 
HUD's section 8 program costs, improving Treasury tax revenues, 
(helping reduce the budget deficit), and increasing the likelihood that 
projects will continue to provide housing for lower-income families 
after subsidies expire, a priority HUD objective.

    43. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: The Suffolk, Virginia RHA refunding of bonds 
which financed a section 8 assisted project: Wilson Pines Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding bonds issued under section 103 of the Tax Code. This 
refunding proposal was approved by HUD on March 23, 1993. Refunding 
bonds have been priced to an average yield of 6.1%. The tax-exempt 
refunding bond issue of $3,245,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 10.4% 
at the call date in 1993 with tax-exempt bonds yielding 6.1%. The 
refunding will also substantially reduce the FHA mortgage interest 
rates at expiration of the HAP contract, from 10.7% to 5.1%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    44. Regulation: 24 CFR 811.114(d), 811.115(b), 811.1172.
    Project/Activity: Plainfield, New Jersey HA refunding of bonds 
which financed a section 8 assisted project: Liberty Village 
Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: James E. Schoenberger, Associate General Deputy 
Assistant Secretary for Housing.
    Date Granted: April 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding bonds issued under section 103 of the Tax Code. This 
refunding proposal was approved by HUD on April 23, 1993. Refunding 
bonds have been priced to an average yield of 6.29%. The tax-exempt 
refunding bond issue of $5,305,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 11.5% 
at the call date in 1993 with tax-exempt bonds yielding 6.29%. The 
refunding serves the important public purposes of reducing HUD's 
section 8 program costs, improving Treasury tax revenues (helping 
reduce the budget deficit), and increasing the likelihood that projects 
will continue to provide housing for lower-income families after 
subsidies expire, a priority HUD objective.

    45. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.
    Project/Activity: City of San Diego, California refunding of bonds 
which financed a section 8 assisted project, University Canyon North 
Apartments, FHA No. 129-35076.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: July 28, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
July 15, 1993. Refunding bonds have been priced to an average yield of 
5.81%. The tax-exempt refunding bond issue of $3,490,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds 
yielding 5.81%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.2% to 
6.2%, thus reducing FHA mortgage insurance risk. The refunding serves 
the important public purposes of reducing HUD's section 8 program 
costs, improving Treasury tax revenues, (helping reduce the budget 
deficit), and increasing the likelihood that projects will continue to 
provide housing for lower-income families after subsidies expire, a 
priority HUD objective.

    46. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.
    Project/Activity: The Newark HA refunding of bonds which financed a 
section 8 assisted project: St. Mary's Villa Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: June 10, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
April 9, 1993. Refunding bonds have been priced to an average yield of 
6.12%. The tax-exempt refunding bond issue of $17,455,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 11.4%-12% at the call date in 1993 with tax-exempt 
bonds yielding 6.12%. The refunding will also substantially reduce the 
FHA mortgage interest rate at expiration of the HAP contract, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    47. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: San Bernardino, California HA refunding of bonds 
which financed a section 8 assisted project, Virginia Terrace 
Apartments, FHA No. 143-35075.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commission.
    Date Granted: August 5, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on February 3, 1993. 
Refunding bonds have been priced to an average yield of 5.76%. The tax-
exempt refunding bond issue of $3,835,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10%-11% at the call date in 1993 with tax-exempt bonds yielding 
5.76%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 11.4% to 6.26%, 
this reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    48. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: Sierra Vista, Arizona, IDA refunding of bonds 
which financed a section 8 assisted project, Mountain View Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: August 19, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on July 15, 1993. Refunding 
bonds have been priced to an average yield of 5.84%. The tax-exempt 
refunding bond issue of $2,370,000 at current low-interest rates will 
save section 8 subsidy. The Treasury also gains long-term tax revenue 
benefits through replacement of outstanding tax-exempt coupons of 9%-
10.5% at the call date in 1993 with tax-exempt bonds yielding 5.84%. 
The refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.72% to 6.25%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    49. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: Fairfax County Department of Housing and 
Community Development refunding of bonds which financed a section 8 
assisted project, Burke Center Station Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: August 27, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refunding bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on August 18, 1993. 
Refunding bonds have been priced to an average yield of 5.72%. The tax-
exempt refunding bond issue of $4,470,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 10.27% at the call date in 1993 with tax-exempt bonds yielding 
5.72%. The refunding will also substantially reduce the FHA mortgage 
interest rate effectively immediately, from 10.41% to 7.05%, thus 
reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    50. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: St. Louis, Missouri IDA refunding of bonds which 
financed a section 8 assisted project, Douglas Manor Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 8, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions under section 103 of the Tax Code. To credit 
enhance refundings bonds not fully secured by the FHA mortgage amount, 
HUD also agrees not to exercise its option under 24 CFR 207.259(e) to 
call debentures prior to maturity. This refunding proposal was approved 
by HUD on July 29, 1993. Refunding bonds have been priced to an average 
yield of 5.83%. The tax-exempt refunding bond issue of $1,805,000 at 
current low-interest rates will save section 8 subsidy. The Treasury 
also gains long-term tax revenue benefits through replacement of 
outstanding tax-exempt coupons of 10.8%-12% at the call date in 1993 
with tax-exempt bonds yielding 5.83%. The refunding will also 
substantially reduce the FHA mortgage interest rate at expiration of 
the HAP contract, from 11.51% to 6.28%, thus reducing FHA mortgage 
insurance risk. The refunding serves the important public purposes of 
reducing HUD's section 8 program costs, improving Treasury tax 
revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    51. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: Fairfax, County, Virginia RHA refunding of bonds 
which financed a section 8 assisted project, Bridle Creek Apartments, 
FHA No. 051-35318.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 15, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD on 
September 2, 1993. Refunding bonds have been priced to an average yield 
of 5.83%. The tax-exempt refunding bond issue of $3,175,000 at current 
low-interest rates will save section 8 subsidy. The Treasury also gains 
long-term tax revenue benefits through replacement of outstanding tax-
exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds 
yielding 5.83%. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.7% to 
5.85%, thus reducing FHA mortgage insurance risk. The refunding serves 
the important public purposes of reducing HUD's section 8 program 
costs, improving Treasury tax revenues, (helping reduce the budget 
deficit), and increasing the likelihood that projects will continue to 
provide housing for lower-income families after subsidies expire, a 
priority HUD objective.

    52. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: North Dakota HFA refunding of bonds which 
financed a section 8 assisted project, ``The 400'' Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 23, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions. To credit enhance refundings bonds not fully 
secured by the FHA mortgage amount, HUD also agrees not to exercise its 
option under 24 CFR 207.259(e) to call debentures prior to maturity. 
This refunding proposal was approved by HUD on August 11, 1993. 
Refunding bonds have been priced to an average yield of 5.75%. The tax-
exempt refunding bond issue of $1,975,000 at current low-interest rates 
will save section 8 subsidy. The Treasury also gains long-term tax 
revenue benefits through replacement of outstanding tax-exempt coupons 
of 12%-12.75% at the call date in 1993 with tax-exempt bonds yielding 
5.75%. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% to 6.45%, 
thus reducing FHA mortgage insurance risk. The refunding serves the 
important public purposes of reducing HUD's section 8 program costs, 
improving Treasury tax revenues, (helping reduce the budget deficit), 
and increasing the likelihood that projects will continue to provide 
housing for lower-income families after subsidies expire, a priority 
HUD objective.

    53. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
    Project/Activity: Nashville and Davidson County, Tennessee HEFB 
refunding of bonds which financed a section 8 assisted project, Hickory 
Forest Apartments.
    Nature of Requirement: The Regulations set conditions under which 
HUD may grant a section 11(b) letter of exemption of multifamily 
housing revenue bonds from Federal income taxation and authorize call 
of debentures prior to maturity.
    Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-
Federal Housing Commissioner.
    Date Granted: September 29, 1993.
    Reasons Waived: The part 811 regulations cited above were intended 
for original bond financing transactions and do not fit the terms of 
refunding transactions under section 103 of the Tax Code. To credit 
enhance refundings bonds not fully secured by the FHA mortgage amount, 
HUD also agrees not to exercise its option under 24 CFR 207.259(e) to 
call debentures prior to maturity. This refunding proposal was approved 
by HUD on September 10, 1993. Refunding bonds have been priced to an 
average yield of 5.59%. The tax-exempt refunding bond issue of 
$2,470,000 at current low-interest rates will save section 8 subsidy. 
The Treasury also gains long-term tax revenue benefits through 
replacement of outstanding tax-exempt coupons of 9.5%-10.9% at the call 
date in 1993 with tax-exempt bonds yielding 5.59%. The refunding will 
also substantially reduce the FHA mortgage interest rate at expiration 
of the HAP contract, from 11.06% to 5.08%, thus reducing FHA mortgage 
insurance risk. The refunding serves the important public purposes of 
reducing HUD's section 8 program costs, improving Treasury tax 
revenues, (helping reduce the budget deficit), and increasing the 
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.

    Note to Reader: The person to be contacted for additional 
information about the waiver-grant items in this listing is: John 
Comerford, Director, Financial Management Division, Office of Public 
and Indian Housing, Department of Housing and Urban Development, 451 
Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872, 
TTD: (202) 708-0850 (These are not toll-free numbers).

    54. Regulation: 24 CFR 882.103(b) and 887.201(b)(3).
    Project/Activity: Deny Owner Participation in the section 8 Rental 
Assistance Programs if the Owner's Property Taxes are Delinquent, 
Detroit Housing Department (DHD).
    Nature of Requirement: 24 CFR 882.103(b) and 887.201(b)(3) prohibit 
a public housing agency (HA) from directly or indirectly reducing, 
either in the provision of assistance to any family in finding a unit 
or by any other action, any family's opportunity to choose among the 
available units in the housing market.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    Date Granted: April 21, 1993.
    Reason Waived: The Department is aware of an HA's need to weigh the 
unsuitability of certain landlords against the family's ability to take 
advantage of a wide range of housing choices. The supporting 
documentation submitted by DHD reported that from October 1990 through 
May 1992, there were only two cases where units selected by families 
had owners with unpaid property taxes, and that in both cases the 
owners agreed to make payment arrangements and the units were processed 
for the program. The waiver was determined to be in the public interest 
of the city of Detroit, and does not appear to result in any 
significant reduction to the housing choices available to families.

    55. Regulation: 24 CFR 882.730(a) and 882.732.
    Project/Activity: Section 8 Project-Based Certificate Assistance 
for 46 units of permanent housing for the homeless in Philadelphia 
rehabilitated by the Committee for Dignity and Fairness for the 
Homeless Housing Development, Inc. (Dignity).
    Nature of Requirement: The Regulations require that an Agreement to 
Enter Into Housing Assistance Payments Contract for Project-Based 
Certificate Assistance must be executed prior to start of any 
rehabilitation to be performed under the Agreement.
    Granted by: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    Date Granted: April 16, 1993.
    Reason Waived: Section 155 of the Housing and Community Development 
Act of 1992, provides that the rehabilitation of 46 dwelling units in 
Philadelphia for permanent housing for the homeless undertaken by 
Dignity is deemed to have been conducted pursuant to an agreement with 
the Secretary of Housing and Urban Development.

    56. Regulation: 24 CFR 887.165(b).
    Project/Activity: Homestead Housing Authority (HHA) extension of 
the term of rental voucher beyond 120 days.
    Nature of Requirement: Regulation limits the term of a rental 
voucher to 120 days from the date of issuance.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing, PD.
    Date Granted: March 15, 1993.
    Reason Waived: Additional search time is necessary for families 
issued rental vouchers by the HHA because of the severe shortage of 
decent, safe and sanitary housing in Dade County as a result of 
Hurricane Andrew. This waiver was granted only for the special disaster 
rental vouchers provided by the Dire Emergency Supplemental 
Appropriations Act of 1992. This waiver enables the Homestead Housing 
Authority to extend the term for the special disaster rental vouchers 
for an additional 120 days or a total term of 240 days.

    57. Regulation: 24 CFR 887.165(b).
    Project/Activity: Hialeah Housing Authority (HHA) extension of the 
term of rental voucher beyond 120 days.
    Nature of Requirement: Regulation limits the term of a rental 
voucher to 120 days from the date of issuance.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing, PD.
    Date Granted: March 15, 1993.
    Reason Waived: Additional search time is necessary for families 
issued rental vouchers by the HHA because of the severe shortage of 
decent, safe and sanitary housing in Dade County as a result of 
Hurricane Andrew. This waiver was granted only for the special disaster 
rental vouchers provided by the Dire Emergency Supplemental 
Appropriations Act of 1992. This waiver enables the Hialeah Housing 
Authority to extend the term for the special disaster rental vouchers 
for an additional 120 days or a total term of 240 days.

    Note To Reader: The person to be contacted for additional 
information about the waiver grant items in this listing is: Mr. 
Edward Moses, Director, Office of Resident Initiatives, Department 
of Housing and Urban Development, 451 Seventh Street SW, Room 4116, 
Washington, DC 20410, (202) 619-8201 (This is not a toll-free 
number).

    58. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: Philadelphia, Pennsylvania Housing Authority, 
Turnkey III Homeownership Opportunity Programs Project(s) Whitman Park 
(PA 2-51) and Brown St. Village (PA 2-96).
    Nature of Requirement: 24 CFR 904 subpart B and the Turnkey III 
Handbook require that upon sale of a homeownership unit that the monies 
received be remitted to HUD to reduce the capital indebtedness on the 
project. Excess Residual Receipts and or Operating Reserves are also to 
be remitted to HUD.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing, PD.
    Date Granted: June 4, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272 
(April 7, 1986), which amends section 4 of the United States Housing 
Act of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    59. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: The Butler Metropolitan Housing Authority, 
Hamilton, Ohio, Turnkey III Homeownership Opportunity Programs Projects 
OH 15-06 and OH 15-11.
    Nature of Requirement: 24 CFR part 904 subpart B and the Turnkey 
III Handbook require that upon sale of a homeownership unit that the 
monies received be remitted to HUD to reduce the capital indebtedness 
on the project. Excess Residual Receipts and or Operating Reserves are 
also to be remitted to HUD.
    Granted By: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing, P.
    Date Granted: June 11, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272 
(April 7, 1986), which amends section 4 of the United States Housing 
Act of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    60. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: The Nashua, New Hampshire Housing Authority, 
Turnkey III Homeownership Opportunity Programs Project NH 36-P002-008.
    Nature of Requirement: 24 CFR 904 subpart B and the Turnkey III 
Handbook require that upon sale of a homeownership unit that the monies 
received be remitted to HUD to reduce the capital indebtedness on the 
project. Excess Residual Receipts and or Operating Reserves are also to 
be remitted to HUD.
    Granted By: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing, P.
    Date Granted: June 16, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272 
(April 7, 1986), which amends section 4 of the United States Housing 
Act of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    61. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: Charlotte, North Carolina Housing Authority, 
Turnkey III Homeownership Opportunity Programs Projects NC 3-13, NC 3-
14 and NC 3-15.
    Nature of Requirement: 24 CFR 904 Subpart B and the Turnkey III 
Handbook require that upon sale of a homeownership unit that the monies 
received be remitted to HUD to reduce the capital indebtedness on the 
project. Excess Residual Receipts and or Operating Reserves are also to 
be remitted to a HUD.
    Granted By: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing, P.
    Date Granted: June 17, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272 
(April 7, 1986) which amends section 4 of the United States Housing Act 
of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    62. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: Jefferson County, Kentucky Housing Authority, 
Turnkey III Homeownership Opportunity Programs Project KY 36-105-002.
    Nature of Requirement: 24 CFR Part 904 Subpart B and the Turnkey 
III Handbook require that upon sale of a homeownership unit that the 
monies received be remitted to HUD to reduce the capital indebtedness 
on the project. Excess Residual Receipts and or Operating Reserves are 
also to be remitted to a HUD.
    Granted By: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing, P.
    Date Granted: June 25, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985, (the Amendments) Public Law 99-272 
(April 7, 1986) which amends section 4 of the United States Housing Act 
of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    63. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    Project/Activity: Knoxville, Tennessee Community Development 
Corporation, Turnkey III Homeownership Opportunity Programs Projects 
TN37P003015 and TN37P003016.
    Nature of Requirement: 24 CFR Part 904 Subpart B and the Turnkey 
III Handbook require that upon sale of a homeownership unit that the 
monies received be remitted to HUD to reduce the capital indebtedness 
on the project. Excess Residual Receipts and or Operating Reserves are 
also to be remitted to HUD.
    Granted By: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing, P.
    Date Granted: August 13, 1993.
    Reason Waived: Project debt forgiveness was authorized by the 
provisions of section 3004 of the Housing and Community Development 
Reconciliation Amendments of 1985, (the Amendments) Public Law 99-272 
(April 7, 1986) which amends section 4 of the United States Housing Act 
of 1937. The Amendments authorized the Secretary of HUD to forgive 
outstanding principal and interest on loans made by the Secretary to 
Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to 
cancel the terms of any contract with respect to repayment.
    Turnkey III debt forgiveness, as authorized above, is implemented 
according to existing HUD procedures.
    The housing authority has shown good cause and demonstrated 
compliance with all applicable regulatory requirements for debt 
forgiveness.

    Note to Reader: The person to be contacted for additional 
information about waiver-grant item numbers in this listing is: Mr. 
Dom Nessi, Director, Office of Indian Housing, Department of Housing 
and Urban Development, 451 Seventh Street, SW, Washington, DC 20410, 
Phone: (202) 708-1015, TDD: (202) 708-0850 (These are not toll-free 
numbers).

    64. Regulation: 24 CFR 905.325.
    Project/Activity: Establishment of ceiling rents for Lac Vieux 
Desert Chippewa Housing Authority.
    Nature of the Requirement: Waiver of the Regulation cited above is 
required to allow establishment of ceiling rents for their Rental 
Program.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary, 
PD.
    Date Granted: March 2, 1993.
    Reason Waived: This waiver was requested and granted to allow the 
Lac Vieux Desert Chippewa Housing Authority to establish ceiling rents 
for their rental program in accordance with PIH Notice 89-21, which 
provides for the establishment of ceiling rents in a rental Indian 
housing program.
    65. Regulation: 24 CFR 905.325.
    Project/Activity: Establishment of ceiling rents for Bad River 
Housing Authority.
    Nature of the Requirement: Waiver of the Regulation cited above is 
required to allow establishment of ceiling rents for their Rental 
Program.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary, 
PD.
    Date Granted: March 26, 1993.
    Reason Waived: This waiver was requested and granted to allow the 
Bad River Housing Authority to establish ceiling rents for their rental 
program in accordance with PIH Notice 89-21, which provides for the 
establishment of ceiling rents in a rental Indian housing program.
    66. Regulation: 24 CFR 905.325.
    Project/Activity: Establishment of ceiling rents for Fort Berthold 
Housing Authority.
    Nature of the Requirement: Waiver of the Regulation cited above is 
required to allow establishment of ceiling rents for their Rental 
Program.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary, 
PD.
    Date Granted: April 8, 1993.
    Reason Waived: This waiver was requested and granted to allow the 
Fort Berthold Housing Authority to establish ceiling rents for their 
rental program in accordance with PIH Notice 89-21, which provides for 
the establishment of ceiling rents in a rental Indian housing program.
    67. Regulation: 24 CFR 905.730 (c)(F)(3).
    Project/Activity: Extension of the deadline date to Submit Request 
for Recalculation of Allowable Expense Level.
    Nature of the Requirement: Waiver of the Regulation cited above is 
required to allow recalculation of the Allowable Expense Level.
    Granted By: Joseph Shuldiner, Assistant Secretary, P.
    Date Granted: September 27, 1993.
    Reason Waived: This waiver was requested and granted to allow the 
Red Cliff Chippewa Housing Authority an extension of the deadline to 
submit a request for an adjustment of their Allowable Expense Level.
    68. Regulation: 24 CFR 905.730(c)(F)(3)
    Project/Activity: Extension of the deadline date to Submit Request 
for Recalculation of Allowable Expense Level.
    Nature of the Requirement: Waiver of the Regulation cited above is 
required to allow recalculation of the Allowable Expense Level.
    Granted By: Joseph Shuldiner, Assistant Secretary, P.
    Date Granted: September 28, 1993.
    Reason Waived: This waiver was requested and granted to allow the 
Lac Courte Oreilles Indian Housing Authority an extension of the 
deadline to submit a request for an adjustment of their Allowable 
Expense Level.

    Note to Reader: The person to be contacted for additional 
information about the waiver-grant items numbered in this listing 
is: Janice D. Rattley, Director, Office of Construction, 
Rehabilitation and Maintenance, Office of Public and Indian Housing, 
Department of Housing and Urban Development, 451 Seventh Street, 
SW., Washington, DC 20410, Phone: (202) 708-1800. (These are not 
toll-free numbers.)

    69. Regulation: 24 CFR 941.102(b).
    Project/Activity: Public Housing Development, Project Number MO 37-
6, West Plains Housing Authority (WPHA).
    Nature of Requirement: Requires a turnkey developer to submit a 
proposal for a specified number of units on a site or property owned or 
to be purchased by the developer.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    Date Granted: May 28, 1993.
    Reason Waived: To allow the WPHA to permit the developer to change 
one of the original sites to a new site and enlarge one site to 
accommodate a second unit.

    70. Regulation: 24 CFR 965.805(a).
    Project/Activity: Installation of Smoke Detectors in Public Housing 
Units.
    Nature of Requirement: Public housing agencies are required to have 
either a hard-wired or battery-powered smoke detector installed on each 
level of all public housing units by October 30, 1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    Date Granted: December 24, 1992.
    Reason Waived: In Atlanta, Georgia local law prohibits the use of 
battery-operated smoke detectors and the Atlanta Housing Authority 
(AHA) will have to contract for the installation of over 8,000 hard-
wired smoke detectors. The regulations were waived to extend the 
October 30, 1992, deadline for installing smoke detectors on each level 
of every unit to October 31, 1993, to allow additional time for the AHA 
to install hard-wired smoke detectors required by local law.

    71. Regulation: 24 CFR 968.240(c).
    Project/Activity: Public Housing Modernization--Contracting for 
Lead-Based Paint (LBP) Testing.
    Nature of Requirement: The regulation at 24 CFR 968.240(c), 
requires PHAs to use the sealed bid method for contracts in excess of 
$25,000 in accordance with 24 CFR 85.36(d)(2) for LBP Testing.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    Date Granted: January 19, 1993.
    Reason Waived: Housing and Urban Development (HUD), LBP Guidelines 
recommend use of competitive proposals. However, HUD CIAP Regulations 
only permit sealed bid methods. New York City Housing Authority 
prepared solicitations based on competitive proposals and the HUD 
office inadvertently approved. New York City's request for waiver was 
granted because of HUD's error and administrative inconvenience of 
revising solicitation documents within required time frames.

    Note to Reader: The person to be contacted for additional 
information about the waiver-grant items in this listing is: John 
Comerford, Director, Financial Management Division, Office of Public 
and Indian Housing, Department of Housing and Urban Development, 451 
Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872, 
TDD: (202) 708-0850 (These are not toll-free numbers)

    72. Regulation: 24 CFR 990.104.
    Project/Activity: Yoakum Housing Authority, TX. In determining the 
operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 7, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    73. Regulation: 24 CFR 990.104.
    Project/Activity: Taft Housing Authority, TX. In determining the 
operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 7, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    74. Regulation: 24 CFR 990.104.
    Project/Activity: Schulenburg Housing Authority, TX. In determining 
the operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 7, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    75. Regulation: 24 CFR 990.104.
    Project/Activity: Ingleside Housing Authority, TX. In determining 
the operating subsidy eligibility, a request was made to implement the 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 7, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    76. Regulation: 24 CFR 990.104.
    Project/Activity: Northwest Florida Regional Housing Authority. In 
determining the operating subsidy eligibility, a request was made to 
implement the adjustment to the Allowable Expense Level one year early, 
to be effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 7, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    77. Regulation: 24 CFR 990.104.
    Project/Activity: Hartwell Housing Authority, GA. In determining 
the operating subsidy eligibility, a request was made for funding for 
one unit approved for non-dwelling use to promote an anti-drug program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: May 27, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    78. Regulation: 24 CFR 990.104.
    Project/Activity: Fitchburg Housing Authority, MA. In determining 
the operating subsidy eligibility, a request was made to implement the 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 8, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    79. Regulation: 24 CFR 990.104.
    Project/Activity: Newton Housing Authority, MA. In determining the 
operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 8, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    80. Regulation: 24 CFR 990.104.
    Project/Activity: Webster Housing Authority, MA. In determining the 
operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 8, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    81. Regulation: 24 CFR 990.104.
    Project/Activity: Weymouth Housing Authority, MA. In determining 
the operating subsidy eligibility, a request was made to implement an 
adjustment to the Allowable Expense Level one year early, to be 
effective for the fiscal year beginning January 1, 1992.
    Nature of Requirement: The delay in publication of the Final Rule 
for PFS Allowable Expense Level appeals has resulted in a rule that is 
effective for Housing Authority (HA) fiscal years beginning April 1, 
1992.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 8, 1993.
    Reason Waived: This waiver was granted in order to allow equal 
treatment of all HAs in Federal Fiscal Year 1992, by allowing an 
adjustment for HAs with Fiscal Years beginning January 1, 1992.

    82. Regulation: 24 CFR 990.104.
    Project/Activity: Lometa Housing Commission, TX. In determining the 
operating subsidy eligibility, a request was made to extend the 
deadline for submission of a request for an adjustment to the Allowable 
Expense Level.
    Nature of Requirement: The Final Rule for PFS Allowable Expense 
Level appeals imposed a sixty day deadline on submission of requests 
for adjustment.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 11, 1993.
    Reason Waived: The Housing Agency has had three executive directors 
during the past year. The fee accountant had prepared a timely request 
for an adjustment, but the Housing Agency failed to submit it to the 
Department.

    83. Regulation: 24 CFR 990.104.
    Project/Activity: Charleston Housing Authority, WV. In determining 
the operating subsidy eligibility, a request was made for funding for 
eight units approved for non-dwelling use to promote an anti-drug 
program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 11, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    84. Regulation: 24 CFR 990.104.
    Project/Activity: Danville Housing Authority, KY. In determining 
the operating subsidy eligibility, a request was made for funding for 
one unit approved for non-dwelling use to promote an anti-drug program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 16, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    85. Regulation: 24 CFR 990.104.
    Project/Activity: Tampa Housing Authority, FL. In determining the 
operating subsidy eligibility, a request was made for funding for 
eleven units approved for non-dwelling use to promote an economic self-
sufficiency program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 16, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    86. Regulation: 24 CFR 990.104.
    Project/Activity: North Charleston Housing Authority, SC. In 
determining the operating subsidy eligibility, a request was made for 
funding for six units approved for non-dwelling use to promote an 
economic self-sufficiency (headstart) program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 16, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    87. Regulation: 24 CFR 990.104.
    Project/Activity: Mower County Housing and Redevelopment Authority, 
MN. In determining the operating subsidy eligibility, a request was 
made to extend the deadline for submission of a request for adjustment 
to the Allowable Expense Level.
    Nature of Requirement: The Final Rule for PFS Allowable Expense 
Level appeals imposed a sixty day deadline on submission of requests 
for adjustment.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: June 17, 1993.
    Reason Waived: The Housing Agency had misunderstood the deadline. 
This waiver was granted based on the Housing Agency's eligibility for 
an adjustment and its low reserve level.

    88. Regulation: 24 CFR 990.104.
    Project/Activity: Anderson Housing Authority, SC. In determining 
the operating subsidy eligibility, a request was made for funding for 
one unit approved for non-dwelling use to promote an anti-drug program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: July 15, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    89. Regulation: 24 CFR 990.104.
    Project/Activity: Cookeville Housing Authority, TN. In determining 
the operating subsidy eligibility, a request was made for funding for 
one unit approved for non-dwelling use to promote an economic self-
sufficiency and anti-drug program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 6, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    90. Regulation: 24 CFR 990.104.
    Project/Activity: Key West Housing Authority, FL. In determining 
the operating subsidy eligibility, a request was made for funding for 
five units approved for non-dwelling use to promote an anti-drug 
program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 20, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    91. Regulation: 24 CFR 990.104.
    Project/Activity: Savannah Housing Authority, GA. In determining 
the operating subsidy eligibility, a request was made for funding for 
five units approved for non-dwelling use to promote an anti-drug 
program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: September 8, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    92. Regulation: 24 CFR 990.104.
    Project/Activity: Tennessee Valley Regional Housing Authority, MS. 
In determining the operating subsidy eligibility, a request was made 
for funding for ten units approved for non-dwelling use to promote an 
economic self-sufficiency program (youth sports, training, adult 
education, etc.).
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: September 9, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    93. Regulation: 24 CFR 990.104.
    Project/Activity: Phenix City Housing Authority, AL. In determining 
the operating subsidy eligibility, a request was made for funding for 
one unit approved for non-dwelling use to promote an economic self-
sufficiency and anti-drug program.
    Nature of Requirement: The operating subsidy calculation excludes 
funding for units removed from the dwelling rental inventory.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: September 9, 1993.
    Reason Waived: To allow additional subsidy for units approved for 
non-dwelling use to promote economic self-sufficiency services and 
anti-drug programs pending publication of a final rule implementing 
this change to the regulation.

    94. Regulation: 24 CFR 990.110(c)
    Project/Activity: Chicago Housing Authority, IL. In determining the 
operating subsidy eligibility a request was made to permit the Housing 
Agency (HA) to retain 50% of savings realized through the wellhead 
purchase of natural gas for the period October 1, 1990, through 
December 31, 1991.
    Nature of Requirement: Section 114(c) of the Housing and Community 
Development Act of 1992 extends, from one year to six years, the period 
during which a HA can retain a portion of the savings resulting from 
the HA's action to secure a reduction in utility rates.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: February 4, 1993.
    Reason Waived: This waiver was granted in order to comply with 
Congressional intent pending publication of a final rule implementing 
this change. Based on the provisions of the Act, the authorization was 
granted to permit the HA to retain 50% of annual savings realized from 
the wellhead purchase of natural gas for the full time allowed by the 
Act.

    95. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: In determining the operating subsidy eligibility 
for the Gilbert, MN Housing and Redevelopment Authority, a request was 
made for an extension of a previous waiver to permit the Housing Agency 
(HA) to use its actual occupancy rate of 88% as its projected occupancy 
percentage.
    Nature of Requirement: The regulation requires a Low Occupancy HA 
without an approved Comprehensive Occupancy Plan (COP) to use a 
projected occupancy percentage of 97%.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 19, 1993.
    Reasons Waived: The HA is a small agency with 49 units of elderly 
housing. It has been hampered in its efforts to reduce vacancies by 
local economic dislocations and loss of population. HA was allowed to 
use a goal of 82% for its fiscal year ending in 1992. Since the time of 
the last waiver, the HA has made progress in reducing its vacancies 
from nine to six units. Further reductions may be expected if the HA's 
application for CIAP funds are approved and some of the vacant units 
are reconfigured into larger units and/or converted into nondwelling 
use. Because of the progress made, the HA was permitted to use 88% as 
its projected occupancy percentage for its fiscal year ending 6/30/93.

    96. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: In determining the operating subsidy eligibility 
for the Atlanta Housing Authority, TX, a request was made to use 94% as 
the projected occupancy percentage instead of 97%.
    Nature of Requirement: The regulation requires a Housing Agency 
(HA) which does not reach an occupancy percentage of 97% at the end of 
its Comprehensive Occupancy Plan (COP) to use a projected occupancy 
percentage of 97%.
    Granted By: Michael B. Janis, General Deputy Assistant Secretary.
    Date Granted: April 28, 1993.
    Reasons Waived: The goal of the COP was to achieve a vacancy level 
of five or fewer vacant units, which for this 80 unit HA corresponded 
to a 94% level. The HA and Ft. Worth Office did not realize until 
recently that the Department had recognized that the use of 97% in this 
type of situation created an inequity. Failure to achieve an acceptable 
goal of 94% should not result in the imposition of an even higher 
occupancy level of 97% on the HA. A waiver was granted to allow the use 
of 94% as the projected occupancy percentage in order to correct this 
inequitable situation.

    97. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: A request was made by the Newark, NJ Housing 
Authority to have the Department approve a 12-year Comprehensive 
Occupancy Plan (COP).
    Nature of Requirement: Current regulations require a Low Occupancy 
PHA to submit a COP when first eligible in order to use an occupancy 
percentage of less than 97% in the determination of operating subsidy 
eligibility. A Low Occupancy PHA without an approved COP must use a 
projected occupancy percentage of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: July 22, 1993.
    Reasons Waived: The Newark Housing Authority (NHA) did not submit 
an approvable COP when it was first eligible to do so for its fiscal 
year beginning 4/1/87. Instead, with the Department's approval, NHA has 
used a series of Memorandums of Agreement (MOAs) that included an 
occupancy goal to be used in determining its operating subsidy 
eligibility. In March 1993, the NHA requested approval of a 12-year 
COP.
    Based on experience gained from Public Housing Agencies (PHAs) 
implementing the vacancy rule, the Department found that large PHAs 
designated as ``troubled authorities'', such as NHA, had vacancy 
problems of such a magnitude and complexity that long-term planning was 
very difficult. Plans that were approved for such PHAs quickly became 
obsolete and much time and effort were spent justifying changes to 
occupancy goals.
    Since the Department continues to believe that it is very difficult 
for large troubled PHAs to adhere to a long term plan with fixed 
occupancy goals, the request for a waiver that would result in the 
approval of a 12-year COP was not approved. Instead, good cause was 
found to waive the subject regulation and allow the NHA to use an 
occupancy goal of 72% for its 1993 fiscal year and 78% for its 1994 
fiscal year. Conditions were also placed on how the additional 
operating subsidy generated as a result of the waiver could be used.

    98. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: A request was made by the Clarkson, NE Housing 
Authority to use its actual occupancy rate of 60% in determining its 
operating subsidy eligibility for its fiscal year ending (FYE) 3/31/93 
and to use a projected occupancy rate of 60% for its FYE 3/31/94.
    Nature of Requirement: A public housing agency (PHA) that has 
completed a Comprehensive Occupancy Plan (COP) without achieving a 97% 
occupancy percentage or having an average of five or fewer vacant units 
must use a projected occupancy rate of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 5, 1993.
    Reason Waived: The Clarkson Housing Authority is a small PHA of 30 
units, primarily elderly. There has been a significant decline in the 
town's population according to census data, as well as loss of 
businesses and medical staff during the past two years. Because the 
documented lack of demand was basically beyond the control of the 
Authority, the PHA was allowed to use 60% for both the requested years.

    99. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: A request was made by the Jetmore, KS Housing 
Authority to have a three-year Comprehensive Occupancy Plan (COP) 
approved for its fiscal year (FYs) 1993-1995. The Authority had 
completed a COP in its 1992 FY without achieving the goal of having 
five or fewer vacant units.
    Nature of Requirement: A public housing agency (PHA) that has 
completed a Comprehensive Occupancy Plan (COP) without achieving a 97% 
occupancy percentage or having an average of five or fewer vacant units 
must use a projected occupancy rate of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 5, 1993.
    Reason Waived: The Jetmore Housing Authority is a small PHA of 20 
units, primarily elderly. The Authority had undertaken several steps to 
increase demand for its units but met with only limited success. 
Because the documented lack of demand was basically beyond the control 
of the Authority, the PHA was allowed to use 75% for both its 1993 and 
1994 FYs. The request for a new COP was not approved.

    100. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: A request was made by the Red Cloud, NE Housing 
Authority to use its actual occupancy rate of 69% in determining its 
operating subsidy eligibility for its fiscal year ending (FYE) 6/30/93 
and to use a projected occupancy rate of 69% for its FYE 3/31/94.
    Nature of Requirement: A public housing agency (PHA) that has 
completed a Comprehensive Occupancy Plan (COP) without achieving a 97% 
occupancy percentage or having an average of five or fewer vacant units 
must use a projected occupancy rate of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 5, 1993.
    Reason Waived: The Red Cloud Housing Authority is a small PHA of 55 
units, primarily elderly. In spite of outreach activities to inform the 
community about the availability of housing assistance and the granting 
of a waiver to admit income-eligible, non-elderly, the waiting list is 
non-existent. Because the documented lack of demand was basically 
beyond the control of the Authority, the PHA was allowed to use 69% for 
both the requested years.

    101. Regulation: 24 CFR 990.109(b)(3)(iv).
    Project/Activity: A request was made by the Olney, TX Housing 
Authority to use its actual occupancy rate of 68% in determining its 
operating subsidy eligibility for its fiscal year ending P9/30/94.
    Nature of Requirement: A public housing agency (PHA) that has 
completed a Comprehensive Occupancy Plan (COP) without achieving a 97% 
occupancy percentage or having an average of five or fewer vacant units 
must use a projected occupancy rate of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: August 5, 1993.
    Reason Waived: The Olney Housing Authority is a relatively small 
PHA of 190 units. It is located in a rural town with a declining 
population and poor economy. Extensive efforts to increase occupancy 
through modernization of the units and outreach activities during the 
past several years have not met with success. Because the documented 
lack of demand was basically beyond the control of the Authority, the 
PHA was allowed to use 68%.

    102. Regulation: 24 CFR 990.109(b) (3) (iv).
    Project/Activity: A request was made by the Chicago, IL Housing 
Authority to use an occupancy rate of 85% in determining its operating 
subsidy eligibility for both its fiscal year ending (FYE) 12/31/93 and 
its FYE 12/31/94.
    Nature of Requirement: A Low Occupancy Public Housing Agency (PHA) 
without an approved Comprehensive Occupancy Plan (COP) must use a 
projected occupancy rate of 97%.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: September 13, 1993.
    Reason Waived: The Chicago Housing Authority argued that the 
magnitude of its safety and security needs is so great, it requires the 
Authority to redirect resources from other priority initiatives such as 
vacancy reduction to fund safety and security measures. This 
redirection of resources was expected to continue for at least the two 
year period of the waiver request.
    A five-year Memorandum of Agreement (MOA) has been executed earlier 
between the Regional Office and the Authority which contained 
performance targets in the area of vacancy reduction. In order not to 
jeopardize the agreements that had been reached, a waiver was granted 
for the Authority's 1993 fiscal year (FY). Conditions were also placed 
on how the additional operating subsidy generated as a result of the 
waiver could be used. These included having at least 60% of the 
additional funds be used specific, identifiable actions to increase 
occupancy which would leave 40% of the additional funds available for 
security measures. A waiver for the Authority's FY 1994 will not be 
considered until a review of actual accomplishments in FY 1993 can be 
made and compared with the actual goals.

    103. Regulation: 24 CFR 990.118(h).
    Project/Activity: A request was made by the Albany, NY Housing 
Authority to use an occupancy rate of 95% instead of the 97% goal of 
its Comprehensive Occupancy Plan (COP) in determining its operating 
subsidy eligibility for its fiscal year ending (FYE) 6/30/94.
    Nature of Requirement: A Public Housing Agency (PHA) with an 
approved COP must use the projected occupancy rates of the COP.
    Granted By: Joseph Shuldiner, Assistant Secretary.
    Date Granted: September 14, 1993.
    Reason Waived: The Albany Housing Authority presented material to 
show that modernization activity at one development was taking longer 
than projected in the COP but that the work was considered to be on-
schedule by the Buffalo Office. Additional units at another development 
were also being considered for possible deprogramming actions that had 
not been contemplated in the COP.
    The Department agreed with the Authority that there were 
unanticipated vacancies because of the on-schedule modernization work 
and found good cause to adjust the COP occupancy goal to 96%. The 
request to make an adjustment for additional vacant units prior to the 
completion of a feasibility study on deprogramming was not approved.

Office of Fair Housing and Equal Opportunity

    Note To Reader: The person to be contacted for additional 
information about the waiver grant items in this listing is: Mr. 
Caldwell Jackson, Director, Management Planning Division, Office of 
Fair Housing and Equal Opportunity, Department of Housing and Urban 
Development, 451 Seventh Street, SW., Room 5108, Washington, DC 
20410, (202) 708-3990 (This is not a toll-free number).

    104. Regulation: 24 CFR parts 12 and 111.
    Project/Activity: Accountability in Provision of HUD's Fair Housing 
Assistance Program (FHAP).
    Granted by: Henry G. Cisneros, Secretary.
    Date Granted: June 2, 1993.
    Reason Waived: A NOFA was not used to announce the availability of 
funds under FHAP. A waiver was needed on this case because FHAP is 
incorrectly listed in section 12.10 as a competitive program, and thus 
subject to the requirement that a notice of funding availability must 
be published in the Federal Register when funds are available under the 
program. The Secretary also waived 24 CFR part 111 which requires a 
NOFA to be published.

    Note to Reader: The person to be contacted for additional 
information about the waiver grant items in this listing is: Mr. 
Anthony P. Devito, Field Coordination Officer, U.S. Department of 
Housing and Urban Development Office of Community Planning and 
Development, 451 7th Street, SW., Washington, DC 20410-7000, 
Telephone: (202) 708-2565 (This is not a toll-free number).

    105. Regulation: 24 CFR 91.70(a) and 91.82(b).
    Project/Activity: City of Woonsocket, Rhode Island and City of New 
Bedford, Massachusetts. Waiver of the submission deadlines of the FY 
1993 Comprehensive Housing Affordability Strategy (CHAS) and the FY 
1992 CHAS Annual Performance Report. City of East Providence, Rhode 
Island. Waiver of the FY 1992 CHAS Annual Performance Report deadline.
    Nature of Requirement: Subpart G. Section 91.70(a) of the CHAS 
final rule provides that a housing strategy must be submitted annually 
between October 1 and December 31, with December 31 being the deadline 
for submission. Subpart H, Section 91.82(b) of the CHAS final rule 
requires that Performance Reports for the fiscal year just ended be 
submitted to HUD no later than December 31.
    Granted By: Don I. Patch, Acting Deputy Assistant Secretary for 
Grant Programs, CG.
    Date Granted: March 4, 1993.
    Reasons Waived: Waivers were granted for good cause. Each city 
requested an extension to the date of submission for their CHAS Annual 
Plan and/or Performance Report. Otherwise, they would lose FY 1993 
funding for all programs that require an approved housing strategy as a 
condition for funding. Undue hardship would result if HUD applied 
authorized sanctions and suspended funding of existing programs in 
these communities. Such action would deprive low and moderate income 
persons of the benefits of HUD-funded programs. Woonsocket was granted 
an 8 day extention for the CHAS and the Performance Report since the 
Mayor was unavailable to sign the documents by the deadline. New 
Bedford was granted an 8 day extension for the CHAS and a 67 day 
extension for the Performance Report. East Providence was granted a 64 
day extension for the Performance Report submission. Both cities report 
the need for the waivers was due to their oversights or incomplete 
understanding of the HUD requirements.

    106. Regulation: 24 CFR 92.150(a).
    Project/Activity: City of West Palm Beach, Florida. Waiver of the 
deadline for submission of a HOME Program Description for FY 1993.
    Nature of Requirement: Subpart D, Sec. 92.150(a) of the HOME 
Interim Rule requires that each participating jurisdiction submit its 
Program Description for a fiscal year to HUD within 45 days of HUD's 
publication of the HOME formula allocations. For fiscal year 1993, the 
due date for Program Descriptions was March 15, 1993.
    Granted By: Don I. Patch, Acting Deputy Assistant Secretary for 
Grant Program.
    Date Granted: March 15, 1993.
    Reasons Waived: The City was unable to get the application and 
program description approved by the City Commission prior to the 
deadline. The City was advised that, in future years, it should 
anticipate the deadline and be sure the HOME Program Description 
approval is included on the Commission's agenda in a timely manner.

    107. Regulation: 24 CFR 92.254 (a)(1) and (b)(1).
    Project/Activity: Alhambra, CA.; Costa Mesa, CA.; Orange County, 
CA.; San Diego County, CA.; Oxnard, CA.; Santa Clara County, CA.; and 
San Mateo County Consortium, CA. Waiver of the section 203(b) dollar 
limits for purchase and rehabilitation of houses under the HOME 
Investment Partnership Act program.
    Nature of Requirement: 24 CFR 92.254(a)(1) provides for the setting 
of area limits on the initial purchase price for single family housing 
and 24 CFR 92.254(b)(1) provides for the setting of area limits on the 
value of property after rehabilitation, not involving purchase.
    Granted By: Don I. Patch, Acting Assistant Secretary for Community 
Planning and Development, March 15, 1993; April 2, 1993 and April 21, 
1993. Mark C. Gordon, Deputy Assistant Secretary for Operations/Chief 
of Staff, May 26, 1993.
    Date Granted: Alhambra, CA., March 15, 1993; Costa Mesa, CA., March 
15, 1993; Orange County, CA., March 15, 1993; San Diego County, CA., 
March 15, 1993; Oxnard, CA., April 2; Santa Clara County, CA., April 
21; and San Mateo County Consortium, CA., May 26, 1993.
    Reasons Waived: Department recognizes that in some high-cost areas, 
there may be few properties whose purchase price and/or after 
rehabilitation value are below the section 203(b) caps. The local 
jurisdictions indicated that to have a viable homeownership program, 
they need to have the limit increased. A HUD review confirmed the 
validity of the requests, analyzed the data and, therefore, for good 
cause, granted waivers establishing the recommended limits as follows: 
Alhambra, CA., $204,000; Costa Mesa, CA., $213,000; Orange County, CA., 
$237,000; San Diego, CA., $181,000; Oxnard, CA., $163,000; Santa Clara 
County, CA., $266,000; San Mateo County Consortium, CA., $252,000.

    108. Regulation: 24 CFR 92.3.
    Project/Activity: San Francisco, CA.; and Franklin County, OH. 
Waiver of the Single Room Occupancy (SRO) definition in the HOME 
Program which requires food preparation or sanitary facilities in each 
unit when rehabilitating an existing residential structure.
    Nature of Requirement: 24 CFR 92.3 as clarified in CPD Notice 92-31 
requires either food preparation or sanitary facilities in each HOME 
assisted SRO unit.
    Granted By: Don I. Patch, Acting Deputy Assistant Secretary for 
Grant Programs.
    Date Granted: San Francisco, CA., April 12, 1993; Franklin County, 
Ohio, May 8, 1993.
    Reasons Waived: The waivers were issued for good cause. The waiver 
approval to Franklin County noted that in response to many public 
comments, the Department would issue an interim rule to modify the 
definition of SRO found at 24 CFR 92.2 to require sanitary or food 
preparation facilities only if the project consists of new 
construction, conversion of non-residential space, or reconstruction. 
For acquisition or rehabilitation of an existing residential structure, 
neither type of amenity is required in the unit. However, the 
Department strongly encourages participating jurisdictions to provide a 
higher level of amenities whenever possible, to contribute to the 
continued marketability of the standard housing stock in the future. 
This change is made in response to public comment that installing 
plumbing when rehabilitating an existing residential structure may be 
financially prohibitive. Nonetheless, the Department believes that for 
new construction, reconstruction and conversion, a higher level of 
amenities is appropriate and desirable. The new SRO definition was 
published in the Federal Register on June 23, 1993.

    109. Regulation: 24 CFR 92.504(b).
    Project/Activity: State of Alaska. Request for a waiver of the 
requirement that before a Participating Jurisdiction disburses HOME 
funds to any entity it must enter into a detailed written agreement 
with the entity ensuring that HOME funds are used in accordance with 
all program requirements. Alaska believes designation of its housing 
finance agency to administer its HOME program should not require a 
detailed written agreement.
    Nature of Requirement: The written agreement required by 
Sec. 92.504(b) and described in Sec. 92.504(c) contains detailed 
requirements concerning the use of HOME funds.
    Granted By: Don I. Patch, Acting Assistant Secretary for Community 
Planning and Development.
    Date Granted: March 23, 1993.
    Reasons Waived: Under many State laws, State housing finance 
agencies (HFAs), are not part of the State government. Under the HOME 
statute, if a HFA is not a State agency it cannot be designated as the 
participating jurisdiction. In such cases where the State wants the HFA 
to administer the HOME Program, an agency of the State must be the 
participating jurisdiction and the HFA must be designated as a 
subrecipient.
    The Department agrees that the written agreement between a State 
and an instrumentality of the State that is a subrecipient need not 
contain the same detailed information as is required of other entities 
receiving HOME funds. Further, the Department amended Sec. 92.504(b) by 
the publication in the Federal Register on June 23, 1993, of an interim 
rule which established much simpler requirements for State 
subrecipients.
    Therefore there was good cause to grant the requested waiver of 24 
CFR 92.504(b) and to allow the Alaska Housing Finance Corporation to 
enter into a written agreement with the State of Alaska using the much 
simpler requirements for State subrecipients.

    110. Regulation: 24 CFR 570.200(a)(5) and 24 CFR 570.200(h).
    Project/Activity: County of Macomb, Michigan (City of Fraser) 
Request for an amendment to a waiver of preagreement costs approved 
June 26, 1992, for the City of Fraser, Michigan, a subrecipient of the 
Community Development Block Grant Program (CDBG) of the County of 
Macomb, Michigan.
    Nature of Requirement: 24 CFR 570.200(h) permits reimbursement of 
certain eligible costs incurred prior to the date of the grant 
agreement. 24 CFR 570.200(a)(5) limits pre-agreement costs to those 
described in subparagraph 570.200(h).
    Granted By: David M. Cohen, Acting Deputy Assistant Secretary for 
Grant Programs.
    Date Granted: May 28, 1993.
    Reasons Waived: A previous waiver of pre-agreement costs, which was 
approved June 26, 1992, permitted the City to proceed with the 
construction of a senior center and reimburse the costs of constructing 
the facility with CDBG funds from 1992-1998. Although the site 
preparation and foundation work had begun, unforeseen soil conditions 
had necessitated change orders that would have resulted in an increase 
in the cost. The City needed to request an amendment to the period 
covered by the waiver. Failure to approve this request may impose a 
greater hardship on the City since it has already incurred contractual 
obligations for construction of the project and would cause undue 
hardship and adversely affect the purposes of the Act. For good cause 
the limitations on pre-agreement costs at 24 CFR 570.200(a)(5) and 
570.200(h) were waived to permit the reimbursement of the costs of 
constructing this facility with CDBG funds from 1992 through the year 
2000.

    111. Regulation: 24 CFR 574.4.
    Project/Activity: Seattle, Washington. The Seattle Department of 
Housing and Human Services requested an extension of the deadline to 
allow ample time to prepare a proposal that adequately addresses the 
needs of persons with AIDS.
    Nature of Requirement: 24 CFR 574.4 establishes a deadline for the 
submission of applications for the entitlement component of the Housing 
Opportunities for Persons with AIDS (HOPWA) Program.
    Granted By: Don I. Patch, Acting Assistant Secretary for Community 
Planning and Development.
    Date Granted: March 8, 1993.
    Reason Waived: In order to provide time to adequately involve the 
community organizations serving persons with AIDs in the application, a 
waiver of the March 15, 1993 deadline was granted, and the date for 
submission of the HOPWA application was extended to April 30, 1993.

    112. Regulation: 24 CFR 291.400.
    Project/Activity: Sabine Valley Center, Longview Texas; Mat-Su 
Mental Health Center, Wasilla, Alaska. Request for a waiver of the 
disposition rules for HUD-acquired one- to four-family properties which 
restrict occupancy by a homeless leasee in transition to a maximum of 
24 months.
    Nature of Requirements: The purpose of the program described in 24 
CFR 291.400 is to assist individuals and families who are homeless by 
providing them with transitional housing. Use of HUD-acquired 
properties by lessees must be with the understanding that the housing 
provided under this program is transitional and the occupants are 
expected to seek and obtain permanent housing resources within two 
years.
    Granted By: Don I. Patch, Acting Deputy Assistant Secretary for 
Grant Programs.
    Date Granted: Longview Texas, March 10, 1993; Wasilla, Alaska, 
April 22, 1993.
    Reasons Waived: The waivers were granted for good cause to 
facilitate a homeless individual in each of the community mental health 
centers to move from transitional to permanent housing. In Longview, an 
extension of 12 months was granted to allow time for completion of job 
training. In Wasilla, an extension of 6 months was granted after which 
entitlements would be available for the individual to achieve 
independent living.

    113. Regulation: 24 CFR 576.55(b)(2).
    Project/Activity: Saginaw, Michigan; District of Columbia; and 
Savannah, Georgia. Request for extension of the deadline for the 
expenditure of Emergency Shelter Grant (ESG) funds.
    Nature of Requirement: 24 CFR 576.55(b)(2) requires that each ESG 
formula grantee spend all of the grant amounts it was allocated within 
24 months of the date of the grant award by HUD.
    Granted By: Don I. Patch, Acting Deputy Assistant Secretary for 
Grant Programs.
    Date Granted: March 2, 1993, Saginaw; March 31, 1993, District of 
Columbia; and April 21, 1993, Savannah.
    Reasons Waived: Waivers granted for good cause to undue hardship 
which would result from applying the deadline or where requiring the 
deadline would adversely affect the purposes of the program: Saginaw, 
30-day extension to allow finishing of rehabilitation of Underground 
Railroad, an ESG subrecipient; District of Columbia, 122-day extension 
to accommodate delays in rehabilitating Emery Shelter without closing 
it in order to continue to serve its large number of homeless clients; 
Savannah, 118 days extension to accommodate the time needed to overturn 
an appeal by an adjacent property owner to zoning variances granted by 
the City for the Independence Center, an ESG facility.
[FR Doc. 94-8017 Filed 4-4-94; 8:45 am]
BILLING CODE 4210-32-M