[Federal Register Volume 64, Number 147 (Monday, August 2, 1999)]
[Notices]
[Pages 41913-41914]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-19672]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCY: The Rural Housing Service, 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 request an 
extension for a currently approved information collection in support of 
the program for Prepayment and Displacement Prevention of Multiple 
Family Housing Loans.

DATES: Comments on this notice must be received by October 1, 1999 to 
be assured of consideration.

FOR FURTHER INFORMATION CONTACT: Cynthia Reese-Foxworth, Senior Loan 
Officer, Office of Rural Housing Preservation, Multi-Family Housing 
Portfolio Management Division, Rural Housing Service, U.S. Department 
of Agriculture, Ag Box 0782, Washington, DC 20250, Telephone (202) 720-
1940.

SUPPLEMENTARY INFORMATION:
    Title: 7 CFR 1965-E, ``Prepayment and Displacement Prevention of 
Multiple Family Housing Loans''.
    OMB Number: 0575-0155.
    Expiration Date of Approval: December 31, 1999.
    Type of Request: Extension of a currently approved information 
collection.
    Abstract: The Rural Housing Service (RHS) is authorized under 
section 514, 515, 516 and 521 of Title V of the Housing Act of 1949, as 
amended, to provide loans and grants to eligible recipients for the 
development of rural rental housing. Such multiple family housing 
projects are intended to meet the housing needs of persons or families 
have with low-to moderate-incomes, senior citizens, the handicapped, 
and domestic farm laborers.
    RHS has the responsibility of assuring the public that the housing 
projects financed are owned and operated as mandated by Congress. RD 
Instruction 1965-E was issued to insure proper servicing actions are 
accomplished for projects financed with multiple family housing loan 
and grant funds. Minimal requirements have been established as deemed 
necessary to assure that applicable laws and authorities are carried 
out as intended and to improve the Agency's ability to assure the 
continued availability of the facilities financed under RHS multiple 
housing programs to eligible users.
    Without the provisions of this regulation, RHS would be unable to 
provide the necessary guidance to the RHS field staff to assist 
borrowers in processing servicing actions affecting their projects. RHS 
also would not be able to quickly respond to servicing requests from 
borrowers, initiate servicing actions or establish a uniform procedure 
for processing such requests from borrowers. RHS must be able to assure 
Congress and the general public that all projects financed with 
multiple family housing funds will be maintained for the purposes for 
which they are intended and for the benefit of those they are mandated 
to serve.
    The Housing and Community Development Act of 1987 required that 
rural rental housing borrowers wishing to prepay their RHS financed 
loans must be offered a fair incentive to not prepay the loan when RHS 
makes the decision that the housing continues to be needed to serve 
low-and moderate-income tenants. If the borrower rejects the incentive, 
the housing must be offered for sale to a nonprofit organization or 
public agency. Prepayment can only be accepted if RHS decided there is 
no need for the housing or if no nonprofit

[[Page 41914]]

organization or public agency can be found to purchase the project at 
fair market value.
    The information required is collected on a project-by-project basis 
and is in accordance with the Housing Act of 1949, as amended, so that 
RHS can provide guidance and be assured of compliance with the terms 
and conditions of loan, grant, and/or subsidy agreements.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 0.6 hours per response.
    Respondents: Individuals or households, State of local governments, 
farms, businesses or other for-profits, non-profit institutions, 
existing borrowers, transferors and/or transferees.
    Estimated Number of Respondents: 800.
    Estimated Number of Responses per Respondent: 1.15.
    Estimated Total Annual Burden on Respondents: 587 hours.
    Copies of this information collection can be obtained from Barbara 
Williams, Regulations and Paperwork Management Branch, Support Services 
Division, Branch, at (202) 692-0045.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
RHS, including whether the information will have practical utility; (b) 
the accuracy of RHS'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 to Barbara Williams, Regulations and 
Paperwork Management Branch, Support Services Division, U.S. Department 
of Agriculture, Rural Development, STOP 0742, 1400 Independence Ave. 
SW, Washington, DC 20250. 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.

    Dated: July 21, 1999.
Eileen Fitzgerald,
Acting Administrator, Rural Housing Service.
[FR Doc. 99-19672 Filed 7-30-99; 8:45 am]
BILLING CODE 3410-XV-P