[Federal Register Volume 60, Number 191 (Tuesday, October 3, 1995)]
[Notices]
[Pages 51840-51848]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24470]




[[Page 51839]]

_______________________________________________________________________

Part III





Department of Housing and Urban Development





_______________________________________________________________________



Office of the Secretary



_______________________________________________________________________



Regulatory Waiver Requests Granted; Notice

  Federal Register / Vol. 60, No. 191 / Tuesday, October 3, 1995 / 
Notices   

[[Page 51840]]


DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Secretary
[Docket No. FR-3864-N-04]


Notice of Regulatory Waiver Requests Granted

AGENCY: Office of the Secretary, HUD.

ACTION: Public notice of the granting of regulatory waivers. Request: 
April 1, 1995 through June 30, 1995.

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SUMMARY: Under the Department of Housing and Urban Development Reform 
Act of 1989 (Reform Act), the Department (HUD) is required to make 
public all approval actions taken on waivers of regulations. This 
notice is the eighteenth such notice being published on a quarterly 
basis, providing notification of waivers granted during the preceding 
reporting period. The purpose of this notice is to comply with the 
requirements of section 106 of the Reform Act.

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

SUPPLEMENTARY INFORMATION: As part of the Housing and Urban Development 
Reform Act of 1989, the Congress adopted, at HUD's request, legislation 
to limit and control the granting of regulatory waivers by the 
Department. Section 106 of the Act (Section 7(q)(3)) of the Department 
of Housing and Urban Development Act, 42 U.S.C. 3535(q)(3), provides 
that:
    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.
    Section 106 also contains requirements applicable to waivers of HUD 
handbook provisions that are not relevant to the purposes of today's 
document.
    Today's document follows publication of HUD's Statement of Policy 
on Waiver of Regulations and Directives Issued by HUD (56 FR 16337, 
April 22, 1991). This is the eighteenth Notice of its kind to be 
published under Section 106. It updates HUD's waiver-grant activity 
from April 1, 1995 through June 30, 1995. In approximately three 
months, the Department will publish a similar Notice, providing 
information about waiver-grant activity for the period from July 1, 
1995 through September 30, 1995.
    For ease of reference, waiver requests granted by departmental 
officials authorized to granted 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, as well as those that occur between July 1, 1995 through 
September 30, 1995.
    Accordingly, information about approved waiver requests pertaining 
to regulations of the Department is provided in the Appendix that 
follows this Notice.

    Dated: September 26, 1995.
Henry G. Cisneros,
Secretary.

Appendix--Listing of Waivers of Regulatory Requirements Granted by 
Officers of the Department of Housing and Urban Development, April 1, 
1995 Through June 30, 1995

    Note to Reader: The person to be contacted for additional 
information about the waiver-grant items in this listing is:
    Mr. James B. Mitchell, Director, Financial Services Division, 
U.S. Department of Housing and Urban Development, 470 L' Enfant 
Plaza East, Suite 3119, Washington, DC 20024, Phone: (202) 755-7450 
x125.
    1. REGULATION: 24 CFR Sections 811.106(d) and 811.107(d) of 1977 
Regulations.
    PROJECT/ACTIVITY: Miami Beach HA refunding of bonds issued in 
1978, which financed an uninsured Section 8 assisted project: 
Rebecca Towers North, HUD Project Number FL29-0009-001.
    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-FHA Commissioner.
    DATE GRANTED: April 17, 1995.
    REASONS WAIVED: The Part 811 regulations cited above prohibited 
refundings and required that excess reserve balances be used for 
project purposes. The issuer has requested HUD's permission to 
release excess reserve balances from the 1978 Trust Indenture for 
use in providing newly constructed housing for abused women and 
children. Issuance of 1995 refunding bonds under Section 103 of the 
Tax Code will not reduce project debt service nor generate Section 8 
savings. The Housing Authority will agree to extend low-income 
occupancy in this project for 10 years after expiration of the 
Housing Assistance Payments Contract in January 2019.
    2. 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: The New Castle, Indiana Housing Authority 
refunding of bonds which financed a Section 8 assisted project, 
Willow Glen Apartments, FHA No. 073-35349.
    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: April 14, 1995. 

[[Page 51841]]

    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 April 
14, 1995. Refunding bonds have been priced to an average yield of 
6.42%. The tax-exempt refunding bond issue of $1,275,000 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 1995 
with tax-exempt bonds at a substantially lower interest rate. The 
refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.23% to 6.7%, 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 low-income families after subsidies expire, a 
priority HUD objective.
    3. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(3), 
811.114(b)(3), 811.114(d), 811.115(b).
    PROJECT/ACTIVITY: Hilliard HDC of Columbus, Ohio refunding of 
bonds which financed a Section 8 assisted project, the Sturbridge 
Green Apartments (FHA No. 043-35260).
    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: April 25, 1995.
    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 16, 1995. Refunding bonds have been priced 
to an average yield of 6.35%. The tax-exempt refunding bond issue of 
$1,435,000 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 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 10.7% 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 low-income families after subsidies expire, a priority 
HUD objective.
    4. 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: Ohio Capital Corporation for Housing refunding 
of bonds which financed three Section 8 assisted projects, 
Miamisburg Manor, Mountaingate, and Applewood Village Apartments 
(FHA Nos. 046-35520, 046-35533, and 043-35246).
    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 4, 1995.
    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 
21, 1995. Refunding bonds have been priced to an average yield of 
6.28%. The tax-exempt refunding bond issue of $3,935,000 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 8.5%--9.5% at the call date with 
tax-exempt bonds yielding 6.28%. The refunding will also 
substantially reduce the FHA mortgage interest rates at expiration 
of the HAP contract, from 9.25% and 8.5% 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 low-income families after subsidies expire, a priority 
HUD objective.
    5. REGULATION: 24 CFR 811.114(d), 811.115(b), 811.117.
    PROJECT/ACTIVITY: The Housing Finance Corporation of Long 
Branch, New Jersey refunding of bonds which financed a Section 8 
assisted uninsured project, Ocean View Towers, HUD No. NJ39-0014-
052.
    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 11, 1995.
    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. 
This refunding proposal was approved by HUD on July 22, 1994. 
Refunding bonds have been priced to an average yield of 6.32%. The 
tax-exempt refunding bond issue of $5,445,000 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 7.75% at the call date in 1995 with tax-exempt 
bonds at a substantially lower interest rate. 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 811.106(d) and 811.107(d) of 1977 
Regulations.
    PROJECT/ACTIVITY: Greenville (North Carolina) HA refunding of 
bonds which financed an uninsured Section 8 assisted project: 
University Towers Elderly Apartments, HUD Project Number NC19-0004-
005.
    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-FHA Commissioner.
    DATE GRANTED: May 15, 1995.
    REASONS WAIVED: The Part 811 regulations cited above prohibited 
refundings and required that excess reserve balances be used for 
project purposes. The issuer has requested HUD permission to release 
excess reserve balances from the 1979 Trust Indenture for use in 
providing affordable housing for low-income families. Issuance of 
1995 refunding bonds under Section 103 of the Tax Code will reduce 
project debt service and generate Section 8 savings to be shared 
equally by the Issuer and the U.S. Treasury pursuant to the McKinney 
Act. The Housing Authority has agreed to extend low-income occupancy 
in this project for 10 years after expiration of the Housing 
Assistance Payments Contract.
    7. 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: Ohio Capital Corporation for Housing refunding 
of bonds which financed three Section 8 assisted projects, Athens 
Gardens, Sprucewood Commons, and Woodwind Apartments (FHA Nos. 043-
35266, 043-35254, and 046-35535).
    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 17, 1995.
    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 
29, 1995. Refunding bonds have been priced to an 

[[Page 51842]]
average yield of 6.29%. The tax-exempt refunding bond issue of 
$4,625,000 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 with tax-exempt bonds yielding 6.29%. The refunding 
will also substantially reduce the FHA mortgage interest rates at 
expiration of the HAP contract, from 10.72% to 6.62%, 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 low-income families after subsidies expire, a priority 
HUD objective.
    8. 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: The Ohio Capital Corporation for Housing 
refunding of bonds which financed a Section 8 assisted project, 
Crescent Square Apartments, FHA No. 046-35559.
    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 16, 1995.
    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, 1995. Refunding bonds have been priced 
to an average yield of 6.59%. The tax-exempt refunding bond issue of 
$1,170,000 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--12% 
at the call date in 1995 with tax-exempt bonds at a substantially 
lower interest rate. The refunding will also substantially reduce 
the FHA mortgage interest rate at expiration of the HAP contract, 
from 12% to 6.62%, 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 low-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)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The Boaz, Alabama Housing Authority refunding 
of bonds which financed a Section 8 assisted project, Meadowood 
Apartments, FHA No. 062-35346.
    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 18, 1995.
    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 1, 
1995. Refunding bonds have been priced to an average yield of 6.60%. 
The tax-exempt refunding bond issue of $1,085,000 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 1995 with tax-exempt 
bonds at a substantially lower interest rate. The refunding will 
also substantially reduce the FHA mortgage interest rate at 
expiration of the HAP contract, from 11.5% to 6.97%, 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 low-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)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The Smithville, Texas Housing Authority 
refunding of bonds which financed a Section 8 assisted project, 
Smithville Gardens Apartments, FHA No. 115-35218.
    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 24, 1995.
    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 April 
25, 1995. Refunding bonds have been priced to an average yield of 
6.40%. The tax-exempt refunding bond issue of $1,110,000 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% at the call date in 1995 with 
tax-exempt bonds at a substantially lower interest rate. The 
refunding will also substantially reduce the FHA mortgage interest 
rate at expiration of the HAP contract, from 10.3% to 6.40%, 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 low-income families after subsidies expire, a 
priority HUD objective.
    11. 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: The Port Arthur, Texas Housing Authority 
refunding of bonds which financed a Section 8 assisted project, 
Stonegate Village Apartments, FHA No. 114-35313.
    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 24, 1995.
    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 April 
25, 1995. Refunding bonds have been priced to an average yield of 
6.38%. The tax-exempt refunding bond issue of $1,250,000 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% to 12.25% at the call date 
in 1995 with tax-exempt bonds at a substantially lower interest 
rate. The refunding will also substantially reduce the FHA mortgage 
interest rate at expiration of the HAP contract, from 12% 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 low-income families after subsidies expire, a 
priority HUD objective.
    12. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(b)(1), 
811.108(b)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The County of Palm Beach, Florida refunding of 
bonds which financed a Section 8 assisted project, Boynton Terrace 
Apartments, Section 8 No. FL29-0053-049.
    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 26, 1995.
    REASONS WAIVED: The Part 811 regulations cited above were 
intended for 

[[Page 51843]]
original bond financing transactions and do not fit the terms of 
refunding transactions. This refunding proposal was approved by HUD 
on May 12, 1995. Refunding bonds have been priced to an average 
yield of 8.0% as unrated due to the deficient condition of the 
project. The tax-exempt refunding bond issue of $4,375,000 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 1995 
with tax-exempt bonds at a substantially lower interest rate. 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 low-income families 
after subsidies expire, a priority HUD objective. This refunding 
will provide $110,000 at closing for urgently needed project repairs 
and an additional $249,000 over time for other capital improvements.
    13. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The Meadows (North Liberty, IN) HDC refunding 
of bonds which financed a Section 8 assisted project, Meadows 
Apartments, FHA No. 073-35420.
    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 15, 1995.
    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 December 
21, 1994. Refunding bonds have been priced to an average yield of 
6.55%. The tax-exempt refunding bond issue of $1,615,000 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 1995 
with tax-exempt bonds at a substantially lower interest rate. The 
refunding will fund project repairs and 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 low-income families after subsidies expire, a 
priority HUD objective.
    14. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The St. Louis Area HFC refunding of bonds 
which financed a Section 8 assisted project, Kendelwood Apartments, 
FHA No. 085-35302.
    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 22, 1995.
    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, 1995. Refunding bonds have been priced 
to an average yield of 6.40%. The tax-exempt refunding bond issue of 
$4,055,000 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 1996 with tax-exempt bonds at a substantially lower 
interest rate. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 10.6% 
to 7.2%, 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 low-income families after subsidies 
expire, a priority HUD objective.
    15. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1), 
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The Bossier City, Louisiana Housing Authority 
refunding of bonds which financed a Section 8 assisted project, 
Clover Dale Apartments, FHA No. 059-35195.
    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 22, 1995.
    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 Section 207.259(e) to call 
debentures prior to maturity. This refunding proposal was approved 
by HUD on May 9, 1995. Refunding bonds have been priced to an 
average yield of 6.55%. The tax-exempt refunding bond issue of 
$4,270,000 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\3/8\% at 
the call date in 1995 with tax-exempt bonds at a substantially lower 
interest rate. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 9.5% 
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 low-income families after subsidies 
expire, a priority HUD objective.
    16. 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: The Ohio Capital Corporation for Housing 
refunding of bonds which financed a Section 8 assisted project, 
Bucyrus Estates Apartments, FHA No. 042-35326.
    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 23, 1995.
    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 Section 207.259(e) to call 
debentures prior to maturity. This refunding proposal was approved 
by HUD on June 8, 1995. Refunding bonds have been priced to an 
average yield of 6.43%. 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 10% at the 
call date in 1995 with tax-exempt bonds at a substantially lower 
interest rate. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 
10.25% to 6.9%, 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 low-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)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
    PROJECT/ACTIVITY: The Shreveport, Louisiana Housing Authority 
refunding of bonds which financed a Section 8 assisted project, 
Stone Vista Apartments, FHA No. 059-35196.
    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. 

[[Page 51844]]

    GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for 
Housing-Federal Housing Commissioner.
    DATE GRANTED: June 27, 1995.
    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 Section 207.259(e) to call 
debentures prior to maturity. This refunding proposal was approved 
by HUD on May 12, 1995. Refunding bonds have been priced to an 
average yield of 5.94%. The tax-exempt refunding bond issue of 
$3,055,000 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 9.4% at the 
call date in 1995 with tax-exempt bonds at a substantially lower 
interest rate. The refunding will also substantially reduce the FHA 
mortgage interest rate at expiration of the HAP contract, from 9.5% 
to 6.375%, 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 low-income families after subsidies 
expire, a priority HUD objective.
    18. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a), 
811.108(a)(1), 811.108(a)(3), 811.114(b)(3), 811.114(d), and 
811.115(b).
    PROJECT/ACTIVITY: The Ohio Capital Corporation for Housing 
refunding of bonds which financed two Section 8 assisted projects, 
Harrisburg Station Project FHA No. 043-35267 and Murray Commons 
Project, FHA No. 043-35258.
    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, 1995.
    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 27, 
1995. Refunding bonds have been priced to an average yield of 6.07%. 
The tax-exempt refunding bond issue of $3,350,000 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 1995 with tax-exempt 
bonds at a substantially lower interest rate. The refunding will 
also substantially reduce the FHA mortgage interest rates at 
expiration of the HAP contract, from 10.72% to 6.4%, 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 low-income families after subsidies expire, a priority 
HUD objective.
    Note to Reader: The person to be contacted for additional 
information about these waiver-grant items in this listing is:
    Debbie Ann Wills, Field Management Officer, U.S. Department of 
Housing & Urban Development, Office of Community Planning and 
Development, 451 7th Street, S.W., Washington, D.C. 20410-7000, 
Telephone: (202) 708-2565.
    19. REGULATION: 24 CFR 92.2.
    PROJECT/ACTIVITY: The City and County of Honolulu, Hawaii 
requested a waiver of the definition of commitment of HOME program 
funds to recognize, for one time only, the reservation of $1.2 
million for the purchase of rental housing.
    NATURE OF REQUIREMENT: The HOME regulation at 92.2 defines 
commitment as the jurisdiction having entered into a legally binding 
agreement with a recipient to use a specific amount of HOME funds to 
produce affordable housing.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 26, 1995.
    REASONS WAIVED: The application of section 92.2 of the HOME 
regulations would create an undue hardship for the low income 
plantation workers who would have to vacate their housing and thus 
adversely effect the purposes of the Act.
    20. REGULATION: 24 CFR 92.2.
    PROJECT/ACTIVITY: The City Los Angeles, California requested a 
waiver of the HOME program regulation that requires a community 
development housing organization (CHDO) to have a tax exempt ruling 
from the IRS. The waiver was requested for a specific non-profit 
organization and it will allow the City to meet the requirement that 
15 percent of its FY 1992 HOME funds be reserved for CHDOs within 24 
months after being awarded.
    NATURE OF REQUIREMENT: One of the HOME definitions at 92.2 
defines of a community development housing organization (CHDO) as an 
organization that has a tax exempt ruling from the IRS.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: May 8, 1995.
    REASONS WAIVED: It was determined that the application for tax 
exempt status was either not processed by the IRS or lost in 
transit. It was determined that there was good cause not to take 
away the HOME funds unless the organization did not receive tax 
exempt status by June of 1996.
    21. REGULATION: 24 CFR 92.220(a)(6)(ii).
    PROJECT/ACTIVITY: The State of Indiana Housing Finance Authority 
requested a waiver of the HOME program regulations at 24 CFR 
92.220(a)(6)(ii) to allow as eligible forms of matching contribution 
certain project specific legal, architectural and engineering fees 
that are waived or foregone.
    NATURE OF REQUIREMENT: The HOME regulation at 92.220 (a)(6) 
provides the basis for allowing project-specific legal, 
architectural and engineering labor costs that are waived or 
foregone to be counted as match. However, Section 92.220(a)(6)(ii) 
requires that the fees be the same as the single rate published 
annually in the Federal Register.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 8, 1995.
    REASONS WAIVED: The application of section 92.220(a)(6)(ii) of 
the HOME regulations would create an undue hardship for the State by 
limiting its ability to participate in the HOME program.
    22. REGULATION: 24 CFR 92.222(b).
    PROJECT/ACTIVITY: The City of St. Louis, Missouri requested that 
the match reduction made because the area was declared a natural 
disaster area be extended for Fiscal 1995.
    NATURE OF REQUIREMENT: Under the HOME Program, each 
participating jurisdiction must match its allocation of HOME Program 
funds. Jurisdictions designated federal ``natural disaster areas'' 
are given relief from the match requirements for one year.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: May 8, 1995.
    REASONS WAIVED: To relieve the jurisdiction of coming up with 
matching funds that would delay the use of HOME funds in an 
emergency situation.
    23. REGULATION: 24 CFR 92.252(a)(2)(i).
    PROJECT/ACTIVITY: The State of Arizona, on behalf of a State 
HOME recipient Nogales Arizona, requested a waiver of the HOME 
program regulations at 24 CFR 92.252(a)(2)(i) to permit Section 202 
project rents, which exceed the low HOME rents to prevail for the 
project.
    NATURE OF REQUIREMENT: The regulations at 24 CFR 92.252(a)(2)(i) 
state, ``to obtain the maximum monthly rent that may be charged for 
a unit that is subject to this limitation, the owner or 
participating jurisdiction multiplies the annual adjusted income of 
the tenant family by 30 percent and divides by 12, and if 
applicable, subtracts a monthly allowance for any utilities and 
services to be paid by the tenant.''
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: May 8, 1995.
    REASONS WAIVED: The application of section 92.252(a)(2)(i) of 
the HOME regulations for the section 202 project would create an 
undue hardship for the City because an elderly project would not be 
developed in the jurisdiction, and thus adversely affect the 
purposes of the Housing and Community Development Act.
    24. REGULATION: 24 CFR 92.254(a)(4)(ii).
    PROJECT/ACTIVITY: State of California, Napa County requested a 
waiver of 24 CFR 92.254(a)(4)(ii) which limits the value of homes 
purchased using HOME funds.

[[Page 51845]]

    NATURE OF REQUIREMENT: The HOME regulations at 24 CFR 
92.254(a)(4)(ii) state that for housing to qualify as affordable 
housing for homeownership, its purchase price and/or after 
rehabilitation value cannot exceed 95 percent of the median purchase 
price for single family housing for the jurisdiction as determined 
by HUD. If the jurisdiction believes the limits determined by HUD do 
not accurately reflect 95 percent of the median purchase price, the 
regulation provides that it may appeal the limits in accordance with 
24 CFR 203.18(b).
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 29, 1995.
    REASONS WAIVED: The HUD Field Office presented data for single 
family home sales that was determined by the Assistant Secretary to 
be a reasonable and accurate representation of local market 
conditions and, therefore, the HOME purchase price/value limits were 
revised upward for the Napa County.
    25. REGULATION: 24 CFR 291.400.
    PROJECT/ACTIVITY: The Anoka County Community Action Program 
requested a waiver the 24 month residency for a tenant in a single 
family property leased under the single family property disposition 
homeless program.
    NATURE OF REQUIREMENT: The regulations at 24 CFR 291.400 
prohibit a non-profit organization or a community participating in 
the Single Family Property Disposition Leasing Program from 
extending a lease to the same tenant for a period beyond 24 months.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 19, 1995.
    REASONS WAIVED: The waiver will allow a formerly homeless family 
more time to find permanent housing.
    26. REGULATION: 24 CFR 511.11(a).
    PROJECT/ACTIVITY: The City of Pittsburg, Kansas requested a 
waiver of the Rental Rehabilitation requirement that the amount of 
disbursed funds for a cancelled project be returned to the grantee's 
C/MI system.
    NATURE OF REQUIREMENT: The regulations at 24 CFR 511.11(a) state 
that, ``if a project is terminated before completion of 
rehabilitation whether, voluntarily by the grantee or otherwise, an 
amount equal to the Rental Rehabilitation grant amount already 
disbursed for the project shall be paid by the grantee to its C/MI 
account, whether or not the grantee has already expended the grant 
amount to pay for project costs''.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 20, 1995.
    REASONS WAIVED: It was determined that undue hardship would have 
resulted from applying Section 511.11(a) requirements to the City of 
Pittsburg and adversely affect the purposes of the Rental 
Rehabilitation program.
    27. REGULATION: 24 CFR 511.11(g)(1).
    PROJECT/ACTIVITY: The City of Miami Beach, Florida requested a 
waiver of Rental Rehabilitation regulations at 24 CFR 511.11(g)(1) 
to allow the City to fund needed repairs at the Blackstone 
Apartments a 131-unit apartment building for the elderly.
    NATURE OF REQUIREMENT: The Rental Rehabilitation regulations at 
24 CFR 511.11(g)(1) prohibit the use of RRP funds for projects 
receiving assistance through programs authorized by the United 
States Housing Act of 1937, including Section 8 project-based 
assistance.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 7, 1995.
    REASONS WAIVED: The waiver was granted because the requirement 
would have caused an undue hardship on the elderly residents of the 
Blackstone Apartments and adversely effected the purposes of the 
Housing and Community Development Act.
    28. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
    PROJECT/ACTIVITY: The City Nashua, New Hampshire requested a 
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement 
of pre-agreement costs to permit the local regional Community Action 
Program agency to complete the acquisition and rehabilitation of a 
property to serve as a Single Room Occupancy (SRO) facility for 40 
formerly homeless women.
    NATURE OF REQUIREMENT: Under the regulations a locality is 
precluded from obligating CDBG funds before grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 7, 1995.
    REASONS WAIVED: HUD determined that failure to grant the waiver 
would cause hardship and adversely affect the purposes of the Act. 
The waiver of the limitations on pre-agreement costs at 24 CFR 
570.200(h) & 570.200(a)(5) will permit the City and the agency to 
complete the acquisition and rehabilitation, by a non-profit 
organization, of a Section 8 Mod Rehab SRO facility.
    29. REGULATION: 24 CFR 570.200(h) & 570.200 (a)(5).
    PROJECT/ACTIVITY: The City Miami Beach, Florida requested a 
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement 
of pre-agreement costs to permit the City of Miami Beach to provide 
a financial contribution of $1,130,000 to the Loews/Forest City 
Ratner Section 108 project.
    NATURE OF REQUIREMENT: Under the regulations a locality is 
precluded from obligating CDBG funds before grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 13, 1995.
    REASONS WAIVED: HUD determined that failure to grant the waiver 
would cause hardship and adversely affect the purposes of the Act. 
The waiver of the limitations on pre-agreement costs at 24 CFR 
570.200(h) & 570.200(a)(5) will permit the completion of the project 
which will result in the creation of 629 jobs a majority of which 
will benefit low and moderate income people.
    30. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
    PROJECT/ACTIVITY: The City Nashua, New Hampshire requested a 
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement 
of pre-agreement costs to permit the City to provide a financial 
contribution for an acquisition activity.
    NATURE OF REQUIREMENT: Under the regulations a locality is 
precluded from obligating CDBG funds before grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 19, 1995.
    REASONS WAIVED: HUD determined that failure to grant the waiver 
would cause hardship and adversely affect the purposes of the Act. 
The waiver of the limitations on pre-agreement costs at 24 CFR 
570.200(h) & 570.200(a)(5) will permit the city to fund the 
acquisition, by a non-profit organization, of a youth center to 
serve local youth and function as a community policing outpost, with 
FY 1996, FY 1997 and FY 1998 CDBG funds.
    31. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
    PROJECT/ACTIVITY: The City of Springfield, Missouri requested a 
waiver of 24 CFR 570.200(h) regarding reimbursement of pre-agreement 
costs for two public service activities.
    NATURE OF REQUIREMENT: Under the regulations a locality is 
precluded from obligating CDBG funds before grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 21, 1995.
    REASONS WAIVED: HUD determined that failure to grant the waiver 
would cause hardship and adversely affect the purposes of the Act. 
The waiver of the limitations on pre-agreement costs at 24 CFR 
570.200(h) & 570.200(a)(5) will permit the reimbursement of local 
funds, for the Springfield Community Center Summer Youth Program, 
and the Community School Pilot Project, with FY 1995 funds.
    32. REGULATION: 24 CFR 570.200(h) & 570.200 (a)(5).
    PROJECT/ACTIVITY: Wayne County, Michigan requested a waiver of 
24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement of pre-
agreement costs to permit the City of Trenton, Michigan to construct 
water and sewer lines in a low and moderate income area in one year 
in instead of over a three year period.
    NATURE OF REQUIREMENT: Under the regulations a locality is 
precluded from obligating CDBG funds before grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 29, 1995.
    REASONS WAIVED: HUD determined that failure to grant the waiver 
would cause hardship and adversely affect the purposes of the Act. 
The waiver of the limitations on pre-agreement costs at 24 CFR 
570.200(h) & 570.200(a)(5) will permit the reimbursement of local 
funds, for water and sewer improvements to a low and moderate income 
area, with FY 1995 CDBG funds.
    33. REGULATION: 24 CFR 572.135(c).
    PROJECT/ACTIVITY: The Housing Authority of Pueblo, Colorado 
requested a waiver of the HOPE 3 program regulations at 

[[Page 51846]]
24 CFR 572.135(c) to extend the time available for commitment of HOPE 3 
sale and resale proceeds by 12 months.
    NATURE OF REQUIREMENT: The regulations at 24 CFR 572.135(c) 
require that the HOPE 3 proceeds must be used for approved 
activities within one year of receipt.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: April 18, 1995.
    REASONS WAIVED: The regulation was waived because it was 
determined there was good cause to allow the Housing Authority an 
extension of time to commit HOPE 3 sale and resale proceeds.
    34. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: The State of New York requested a waiver of 
the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The State requested a waiver of the 
expenditure limitation of ESG funds on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: May 8, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The State demonstrated that other eligible activities 
will be carried out with other funds.
    35. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: Hennepin County, Minnesota requested a waiver 
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The County requested a waiver of the 
expenditure limitation of ESG funds on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: May 8, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The County provided a letter that demonstrated that 
other categories of ESG activities will be carried out locally with 
other resources; therefore, it was determined that the waiver was 
appropriate.
    36. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: New York City, New York requested a waiver of 
the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The City requested a waiver of the ESG 
expenditure limitation on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 15, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The City provided a letter that demonstrated that other 
categories of ESG activities will be carried out locally with other 
resources; therefore, it was determined that the waiver was 
appropriate.
    37. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: Oklahoma City, Oklahoma requested a waiver of 
the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The City requested a waiver of the ESG 
expenditure limitation on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 19, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The City provided a letter that demonstrated that other 
categories of ESG activities will be carried out locally with other 
resources; therefore, it was determined that the waiver was 
appropriate.
    38. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: The City of Miami, Florida requested a waiver 
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The City requested a waiver of the ESG 
expenditure limitation on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 19, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The City provided a letter that demonstrated that other 
categories of ESG activities will be carried out locally with other 
resources; therefore, it was determined that the waiver was 
appropriate.
    39. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: The City of Albany, New York requested a 
waiver of the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The City requested a waiver of the ESG 
expenditure limitation on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 19, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The City provided a letter that demonstrated that other 
categories of ESG activities will be carried out locally with other 
resources; therefore, it was determined that the waiver was 
appropriate.
    40. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: Mt. Vernon City, New York requested a waiver 
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The City requested a waiver of the ESG 
expenditure limitation on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 27, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The City provided a letter that demonstrated that other 
categories of ESG activities will be carried out locally with other 
resources, therefore, it was determined that the waiver was 
appropriate.
    41. REGULATION: 24 CFR 576.21.
    PROJECT/ACTIVITY: Morris County, New Jersey requested a waiver 
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
    NATURE OF REQUIREMENT: The County requested a waiver of the 
expenditure limitation of ESG funds on essential services.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 29, 1995.
    REASONS WAIVED: Under the Stewart B. McKinney Homeless 
Assistance Act, amended by the National Affordable Housing Act the 
30 cap percent cap on essential services may be waived if the 
grantee ``demonstrates that the other eligible activities under the 
program are already being carried out in the locality with other 
resources''. The County provided a letter that demonstrated that 
other categories of ESG activities will be carried out locally with 
other resources, therefore, it was determined that the waiver was 
appropriate.
    42. REGULATION: 24 CFR 582.100(b).
    PROJECT/ACTIVITY: The Provincetown Housing Authority (PHA) 
requested a six month time extension to complete the rehabilitation 
of a building to be used for a Shelter Plus Care homeless facility.
    NATURE OF REQUIREMENT: The Shelter Plus Care Final Rule at 24 
CFR 582.100(b) requires that rehabilitation of a subject property be 
completed within twelve months of grant award.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 29, 1995.
    REASONS WAIVED: It was determined that there was good cause to 
grant the waiver to complete a Shelter Plus Care project. 

[[Page 51847]]

    43. REGULATION: 24 CFR 583.150(b).
    PROJECT/ACTIVITY: The San Francisco Housing Authority requested 
a waiver to allow residents of a 73 unit Supportive Housing project 
to be assisted with Section 8 project-based certificates.
    NATURE OF REQUIREMENT: The regulations at 24 CFR 583.150(b) 
state that HUD will not assist a facility with Transitional Housing 
funds if residents of the structure receive assistance under the 
United States Housing Act of 1937.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 7, 1995.
    REASONS WAIVED: It was determined that the loss of 73 units and 
the accompanying supportive services for the homeless would result 
in a severe hardship for the targeted population, and therefore, the 
waiver was granted.
    44. REGULATION: 24 CFR 882.408(d)(1)&(3).
    PROJECT/ACTIVITY: New York City, New York requested a waiver of 
the Section 8 Moderate Rehabilitation regulations at 24 CFR 
882.408(d)(1)&(3).
    NATURE OF REQUIREMENT: The City requested a waiver of the 
Section 8 Moderate Rehabilitation regulations at Sec. 882.408(d)(1) 
which limit changes in the initial contract rent and 
Sec. 882.408(d)(3) which only allows the revised contract rent to 
exceed the FMR when it is determined ``in accordance with paragraph 
(d)(1)'' that it is necessary to exceed the FMR.
    GRANTED BY: Andrew Cuomo, Assistant Secretary for Community 
Planning & Development.
    DATE GRANTED: June 29, 1995.
    REASONS WAIVED: The waiver was granted for good cause because 
the increased rent allowed the hiring of a 24-hour security for a 
SRO project for the mentally impaired in a high crime area.
    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 
Assisted Housing, Office of Public and Indian Housing, Department of 
Housing and Urban Development, 451 Seventh Street, S.W., Washington, 
D.C. 20410, (202) 708-1872.
    45. REGULATION: 24 CFR 990.104.
    PROJECT/ACTIVITY: Housing Authority of the City of Salem, OR. In 
determining the operating subsidy eligibility a request was made to 
exclude a source of income from the PFS calculation.
    NATURE OF REQUIREMENT: The PFS regulation requires all sources 
of income to be reported when calculating the subsidy eligibility.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: February 27, 1995.
    REASON WAIVED: In order to benefit the Resident Council rental 
fees for space on the roof of one of the highrise buildings of the 
HA will not be included in the PFS subsidy eligibility calculation 
and the Resident Council will be named the payee of the rental fee.
    46. REGULATION: 24 CFR 990.108(e).
    PROJECT/ACTIVITY: Housing Authority of the Township of 
Irvington. A request was made to prevent a loss of operating subsidy 
when converting 34 efficiency units to 17 one bedroom units.
    NATURE OF REQUIREMENT: When unit months are lost through 
combining small units into larger units they must be removed from 
the calculation of unit months available in the PFS subsidy 
calculation.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: February 28, 1995.
    REASON WAIVED: Because of problems the HA has experienced 
filling vacant efficiency units for the elderly the HA converted 
them to one bedroom units which it could rent to elderly couples. In 
order to support the HAs efforts to reduce vacancies, approval was 
granted for the HA to include the number of unit months which would 
be lost through this conversion in future PFS calculations.
    47. REGULATION: 24 CFR 990.108(e).
    PROJECT/ACTIVITY: Akron Metropolitan Housing Authority. A 
request was made to prevent a loss of operating subsidy when 
converting efficiency units to one bedroom units.
    NATURE OF REQUIREMENT: When unit months are lost through 
combining small units into larger units they must be removed from 
the calculation of unit months available in the PFS subsidy 
calculation.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: February 28, 1995.
    REASON WAIVED: Because of problems the HA has experienced 
filling vacant efficiency units for the elderly the HA converted 
them to one bedroom units which it could rent to elderly couples. In 
order to support the HAs efforts to reduce vacancies, approval was 
granted for the HA to include the number of unit months which would 
be lost through this conversion in future PFS calculations.
    48. REGULATION: 24 CFR 990.109(b)(3)(iv).
    PROJECT/ACTIVITY: Chicago Housing Authority. A request was made 
to use 85% for the HA's projected occupancy percentage when 
calculating its PFS operating subsidy eligibility.
    NATURE OF REQUIREMENT: The regulation requires a Low Occupancy 
PHA without an approved Comprehensive Occupancy Plan (COP) to use a 
projected occupancy percentage of 97%.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: April 20, 1995.
    REASON WAIVED: As acknowledged in the five-year Memorandum of 
Agreement (MOA) between HUD and the HA the key to achieving any of 
the vacancy reduction performance targets is the approval of the 
waiver. In order to be supportive of the MOA the HA was authorized 
to use 85% as the projected occupancy percentage with the limitation 
that 60% of the additional operating subsidy funds received be used 
on specific, identifiable actions to increase occupancy.
    49. REGULATION: 24 CFR 990.118(d).
    PROJECT/ACTIVITY: Buffalo, NY, Municipal Housing Authority. A 
request was made to consider the HAs Comprehensive Occupancy Plan 
terminated and to use Part VII of the Form HUD-52728-A to determine 
its occupancy percentage.
    NATURE OF REQUIREMENT: The PFS regulation requires a PHA to use 
the Occupancy Percentage in its approved Comprehensive Occupancy 
Plan.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: April 28, 1995.
    REASON WAIVED: Part VII of the Form HUD-52728-A allows the HA to 
reduce a 97% occupancy rate by the number of units that are in a 
funded, on-schedule modernization program. The HA believes that it 
would do better under these rules than under its COP which has 
become outdated, therefore the duration of the COP has been waived 
to allow the HA to use the newer rules.
    50. REGULATION: 24 CFR 990.109(b)(3)(iv).
    PROJECT/ACTIVITY: Kinsley, KS, Housing Authority. A request was 
made to use the HAs actual occupancy rate of 79% and recalculate its 
operating subsidy eligibility.
    NATURE OF REQUIREMENT: The regulation requires a Low Occupancy 
PHA without an approved Comprehensive Occupancy Plan to use a 
projected occupancy percentage of 97%.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: May 15, 1995.
    REASON WAIVED: The HA was allowed to use its actual occupancy 
percentage to prevent undue hardships while it continues its efforts 
to reduce vacancies.
    51. REGULATION: 24 CFR 990.109(3)(iv).
    PROJECT/ACTIVITY: Housing Authority of the City of Lafayette, 
LA. A request was made to use the HAs actual occupancy rate of 87 
percent for its 1995 fiscal year and 93 percent for its 1996 fiscal 
year.
    NATURE OF REQUIREMENT: The regulation requires a Low Occupancy 
PHA without an approved Comprehensive Occupancy Plan to use a 
projected occupancy percentage of 97%.
    GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and 
Indian Housing.
    DATE GRANTED: July 13, 1995.
    REASON WAIVED: The Department declared the HA in breach of the 
Annual Contributions Contract and took possession of all property 
and assets of the HA. In order to carry out plans to return the HA 
to local control a waiver was granted to support efforts to reduce 
the number of vacant units in the HA.
    Note to Reader: The person to be contacted for additional 
Information about the waiver-grant items in this listing is: Gary 
VanBuskirk, Director, Homeownership Division, Office of Community 
Relations and Involvement, Department of Housing and Urban 
Development, 451 Seventh Street SW--Room 4112, Washington, DC 20410-
5000, (202) 708-4233.
    52. REGULATION: 24 CFR 904 Subpart B (Turnkey III Homeownership 
Opportunity Program) and Corresponding Provisions of the Turnkey III 
Handbook (7495.3).
    PROJECT/ACTIVITY: The Terre Haute, Indiana Housing Authority, 
Turnkey III 

[[Page 51848]]
Homeownership Opportunity Program Project IN-36P021006.
    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.
    DATE GRANTED: April 3, 1995.
    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) Pub. L. 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 the waiver-grant items in this listing is:
    Ms. Madeline Hastings, Office of Rental Assistance, Department 
of Housing and Urban Development, 451 Seventh Street, SW; Room 4226, 
Washington, DC 20410, Phone: (202) 708-1842. TDD: (202) 708-4594.
    53. REGULATION: 24 CFR 882.721, 882.722 and 882.753(c).
    PROJECT/ACTIVITY: Housing Authority of the City of Los Angeles, 
Section 8 project-based certificate program (PBC) assistance for the 
Hayward Hotel project in Los Angeles, California.
    NATURE OF REQUIREMENT: Before a housing agency (HA) can select a 
unit for PBC assistance and execute a PBC Agreement to Enter Into 
Housing Assistance Payments Contract (AHAP), an initial inspection 
of the unit must be completed and the owner must prepare 
rehabilitation work write-ups. Vacant units must be filled from the 
HA waiting list.
    GRANTED BY: Michael B. Janis, General Deputy Assistant Secretary 
for Public and Indian Housing.
    DATE GRANTED: April 26, 1995.
    REASON WAIVED: The waiver permitting substitution of 66 
rehabilitated single room occupancy (SRO) units in the Hayward Hotel 
for 66 other SRO units in the project that had been brought under 
PBC Agreement to Enter Into Housing Assistance Payments Contract, 
was granted to prevent hardship to the occupants of those units who 
had been promised Section 8 assistance. The 66 non-PBC units were 
rehabilitated in the same manner as the units designated under the 
Agreement and in accordance with the PBC program requirements. The 
waiver of the requirement that vacant units be filled from the HA 
waiting list, which applies only to occupants of the 66 substitute 
units, was approved to prevent hardship to the families.
    Note to Reader: The person to be contacted for additional 
information about the waiver-grant items in this listing is:
    Aaron Santa Anna, Assistant General Counsel, Ethics Law 
Division, Department of Housing and Urban Development, 451 Seventh 
Street, SW; Room 2158, Washington, DC 20410, Phone: (202) 708-3815. 
TDD: (202) 708-3259.
    54. REGULATION: 24 CFR 0.735-204(a)(4).
    PROJECT/ACTIVITY: A request was made whether an employee was 
prohibited from renting a primary residence to a relative with 
Section 8 assistance.
    NATURE OF REQUIREMENT: This Standards off Conduct regulation 
prohibits HUD employees, with minor exceptions, from acquiring a 
financial interest in Section 8 subsidies.
    GRANTED BY: Nelson A. Diaz, General Counsel.
    DATE GRANTED: June 15, 1995.
    REASON WAIVER: Renting a primary residence to a family member is 
not the type of situation covered by Sec. 0.735-204(a)(4) because 
application of this provision to such a situation is not necessary 
to ensure public confidence in the impartiality and objectivity with 
which the Department's programs are administered. Compliance with 
all of the program requirements must be present.

[FR Doc. 95-24470 Filed 10-2-95; 8:45 am]
BILLING CODE 4210-32-P