[Federal Register Volume 64, Number 26 (Tuesday, February 9, 1999)]
[Notices]
[Pages 6370-6371]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-3079]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4280-N-05]


Notice of Baseline Review of HUD Properties

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

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SUMMARY: This notice advises owners, mortgagees and contract 
administrators of HUD insured and/or assisted housing, as well as 
members of the public, that HUD's Real Estate Assessment Center intends 
to conduct, as requested by the Congressional conferees in the FY 1999 
HUD Appropriations Act, a physical inspection of substantially all 
assisted and/or FHA insured properties (``baseline review'') over the 
next 12 to 18 months. The baseline review will be conducted using HUD's 
new uniform and computerized physical inspection protocol.

FOR FURTHER INFORMATION CONTACT: For further information contact Frank 
Malone, Office of Multifamily Housing, Department of Housing and Urban 
Development, 451 Seventh St, SW, Room 6160, Washington, DC, 20410 (202) 
708-3730 or Cassandra Faulconer, the Real Estate Assessment Center, 
Department of Housing and Urban Development, Real Estate Assessment 
Center (REAC) 1280 Maryland Avenue, SW, Suite 800, Washington, DC 
20024; telephone (202) 708-4932 (this is not a toll-free number). 
Persons with hearing or speech impairments may access that number via 
TTY by calling the Federal Information Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION: HUD's newly established Real Estate 
Assessment Center (REAC) is charged with responsibility for assessing 
and scoring the condition of certain properties in which HUD has an 
interest, as well as the performance of entities that manage and/or own 
those properties. The establishment of REAC marks an important change 
in HUD's way of doing business, and it is one of the key components of 
Secretary

[[Page 6371]]

Cuomo's HUD 2020 Management Reform Plan. The establishment of REAC has 
created an effective and comprehensive property assessment system. 
HUD's Office of Housing and the Office of Public and Indian Housing 
have previously operated separate real estate assessment operations; 
yet the administration of both organization's multifamily portfolios is 
a common function of asset management. Under REAC, the assessment of 
properties of the Office of Housing and the Office of Public and Indian 
Housing has been consolidated and the physical evaluation standards and 
physical inspection procedures have been made uniform.
    As noted in the ``Summary'' portion of this notice, the purpose of 
this notice is to advise owners, mortgagees and contract administrators 
of HUD insured and/or assisted housing, as well as members of the 
public, that REAC intends to conduct, as requested by the Congressional 
conferees in the FY 1999 HUD Appropriations Act, a baseline review of 
substantially all assisted and/or FHA insured properties over the next 
12 to 18 months. The baseline review will be conducted using HUD's new 
uniform physical inspection computerized protocol.
    This notice is not intended to waive or release the obligation of 
any person or entity to perform a physical inspection of a property or 
properties to be inspected in the baseline review, which inspection is 
otherwise required.
    Persons or entities required to perform a physical inspection of a 
property or properties must send their physical inspection reports to 
REAC at the address shown under the ``For Further Information'' section 
of this notice.

    Dated: January 25, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 99-3079 Filed 2-8-99; 8:45 am]
BILLING CODE 4210-27-P