[Federal Register Volume 62, Number 116 (Tuesday, June 17, 1997)]
[Notices]
[Pages 32752-32753]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15803]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice to Recipients of Form AD-622, ``Notice of Preapplication 
Review Action,'' Under the Section 515 Rural Rental Housing Program

AGENCY: Rural Housing Service (RHS), USDA.

ACTION: Notice.

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SUMMARY: This Notice provides information to all applicants for the 
Section 515 Rural Rental Housing Program who have received Form AD-622, 
``Notice of Preapplication Review Action,'' inviting a formal loan 
application. The intent of this Notice is to inform such recipients 
that the Agency intends to keep their application as an active proposal 
until the Agency publishes final regulations.

EFFECTIVE DATE: June 17, 1997.

FOR FURTHER INFORMATION CONTACT: Cynthia L. Reese-Foxworth, Senior Loan 
Officer, Multi-Family Housing Processing Division, USDA, Stop 0781, 
Washington, DC, 20250, telephone (202) 720-1940 (this is not a toll 
free number).

SUPPLEMENTARY INFORMATION:

Programs Affected

    The Rural Rental Housing Program is listed in the Catalog of 
Federal Domestic Assistance under Number 10.415, Rural Rental Housing 
Loans.

Discussion of Notice

    The Rural Housing Service (RHS), formerly Rural Housing and 
Community Development Service (RHCDS), a successor Agency to the 
Farmers Home Administration (FmHA), amended its regulations for the 
Rural Rental Housing (RRH) Program to implement legislative reforms 
mandated by the Agriculture, Rural Development, Food and Drug 
Administration, and Related Agencies Appropriations Act, 1997, Public 
Law 104-180, enacted August 6, 1996. On May 7, 1997, the Agency 
published in the Federal Register (62 FR 25062) an interim final rule 
with request for comments entitled, ``Rural Rental Housing (RRH) 
Assistance.'' Additionally, the Agency published a Notice in the 
Federal Register (62 FR 28982) of its intent to conduct a Public 
Hearing on June 11, 1997, from 10:00 a.m. to 2:00 p.m., in room 107-A 
of the Jamie L. Whitten Federal Building located at 1400 Independence 
Avenue, SW, Washington, DC 20250.
    The ``Implementation Proposal'' section of the preamble of the 
interim final rule stated that loan requests that have been issued an 
AD-622 inviting a

[[Page 32753]]

formal application that are not located in a designated place in 
accordance with the requirements of the interim rule will be returned 
to the applicant. This Notice is to advise such applicants that this 
policy is revised. Loan requests that have been issued an AD-622 
inviting a formal application for a complex that is not located in a 
designated place, in accordance with the interim rule, will be held 
until after the Final Rule on the reforms is published, estimated to be 
on or about November 1, 1997. The reason for not returning such loan 
requests at this time is because the Agency anticipates that the 
interim rule requirements on designating places may change based on the 
public comments and the scheduled hearing on June 11, 1997. The Agency 
does not desire to adversely affect such applicants by returning their 
loan requests. Until the Final Rule is published, Rural Development 
Offices will retain these loan requests. Retaining these loan requests 
should not be construed as an indication or guarantee of future 
funding. Rather, applicants may maintain the current status of their 
loan request at their own cost and risk; however, such applications 
will be subject to the provisions of the Final Rule. Such applicants 
must keep their applications current and may withdraw same at any time.

    Dated: June 9, 1997.
Eileen Fitzgerald,
Acting Administrator, Rural Housing Service.
[FR Doc. 97-15803 Filed 6-16-97; 8:45 am]
BILLING CODE 3410-XV-P