[Federal Register Volume 63, Number 195 (Thursday, October 8, 1998)]
[Notices]
[Page 54107]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-27020]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCY: Rural Housing Service (RHS), USDA.

ACTION: Proposed collection; Comments requested.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the Rural Housing Service's intention to seek a 
regular three-year clearance from the Office of Management and Budget 
(OMB) of new reporting and recordkeeping requirements in support of the 
Guaranteed Rural Rental Housing Program Origination and Servicing 
Handbook. These requirements have been approved by emergency clearance 
by OMB under OMB control number 0575-0175.

DATES: Comments on this notice must be received by December 7, 1998 to 
be assured of consideration.

FOR FURTHER INFORMATION CONTACT: Carl Wagner, Senior Loan Specialist, 
Multi-Family Housing Processing Division, Rural Housing Service, USDA, 
Room 1243, Stop 0781, 1400 Independence Avenue, SW., Washington, DC 
20250, telephone, (202) 720-1627.

SUPPLEMENTARY INFORMATION:
    Title: Guaranteed Rural Rental Housing Program Origination and 
Servicing Handbook.
    OMB Number: 0575-0175.
    Expiration Date of Approval: February 28, 1999.
    Type of Request: Extension of a Currently Approved Information 
Collection.
    Abstract: On March 28, 1996, President Clinton signed the ``Housing 
Opportunity Program Extension Act of 1996.'' One of the provisions of 
the Act was the authorization of the Section 538 Guaranteed Rural 
Rental Housing Loan Program, adding the program to the Housing Act of 
1949. The program has been designed to increase the supply of 
affordable multifamily housing through partnerships between RHS and 
major lending sources, as well as State and local housing finance 
agencies and bond issuers. Qualified lenders will be authorized to 
originate, underwrite, and close loans for multifamily housing projects 
requiring new construction or acquisition with rehabilitation of at 
least $15,000 per unit will be considered.
    The housing must be available for occupancy only by low or moderate 
income families or persons, whose incomes at the time of initial 
occupancy do not exceed 115 percent of the median income of the area. 
After initial occupancy, a tenant's income may exceed these limits; 
however, rents, including utilities, are restricted to no more than 30 
percent of the 115 percent of area Median Income for the term of the 
loan.
    Units must be located in rural areas considered eligible as defined 
in 7 CFR 3550.10 (not just the designated areas as defined in 7 CFR 
1944.228).
    The purpose of this Guaranteed Rural Rental Housing Program 
Origination and Servicing Handbook is to provide lenders and Agency 
personnel with the ``how-to'' administrative guidance needed to aid 
them in the implementation of 7 CFR part 3565, Guaranteed Rural Rental 
Housing Program (GRRHP). Throughout the Handbook, the user will find 
reference to the applicable corresponding action in 7 CFR part 3565. 
The references will be in italicized brackets and a copy of this 
regulation is provided in Appendix 1 of the Handbook. In accordance 
with the Paperwork Reduction Act of 1995, the reporting and 
recordkeeping requirements for 7 CFR part 3565 have been approved by 
emergency clearance by OMB under OMB control number 0575-0174.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to range from 5 minutes to 2 hours per 
response.
    Respondents: Business or other for-profit entities and not-for-
profit institutions.
    Estimated Number of Respondents: 50.
    Estimated Number of Responses per Respondent: 250.56.
    Estimated Total Annual Burden on Respondents: 854.75.
    A complete copy of the information collection package and Handbook 
can be obtained from Tracy Gillin, Regulations and Paperwork Management 
Branch, at (202) 692-0039.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the Agency, including whether the information will have practical 
utility; (b) the accuracy of the Agency's estimate of the burden of the 
proposed collection of information including the validity of the 
methodology and assumptions used; (c) ways to enhance the quality, 
utility and clarity of the information to be collected; and (d) ways to 
minimize the burden of the collection of information on those who are 
to respond, including through the use of appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology. Comments may be sent via the 
U.S. Postal Service to Tracy Gillin, Regulations and Paperwork 
Management Branch, U.S. Department of Agriculture, Rural Development, 
STOP 0742, 1400 Independence Ave. SW., Washington, DC 20250-0742. 
Comments may also be sent via Federal Express to Tracy Gillin, 
Regulations and Paperwork Management Branch, USDA-Rural Development, 
3rd Floor, 300 E. St., SW., Washington, DC 20546. All responses to this 
notice will be summarized and included in the request for OMB approval. 
All comments will also become a matter of public record. A comment is 
best assured of having its full effect if the Agency receives it within 
30 days of publication of this notice.

    Dated: September 22, 1998.
Jan E. Shadburn,
Administrator, Rural Housing Service.
[FR Doc. 98-27020 Filed 10-7-98; 8:45 am]
BILLING CODE 3410-XV-U