[Federal Register Volume 68, Number 95 (Friday, May 16, 2003)]
[Notices]
[Page 26941]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-12244]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Funding Availability (NOFA) for the Section 515 Rural 
Rental Housing Program for Fiscal Year 2003

AGENCY: Rural Housing Service (RHS), USDA.

ACTION: Notice.

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SUMMARY: This NOFA announces the availability of new construction loan 
funds for the section 515 Rural Rental Housing (RRH) program for Fiscal 
Year (FY) 2003. By prior notice in the Federal Register, the Agency 
announced a deadline of February 25, 2003, 5 p.m. local time for each 
Rural Development State Office, for submitting applications for section 
515 new construction loan funds and section 521 Rental Assistance (RA). 
The ``Notice of Timeframe to Submit Applications for the Section 515 
Rural Rental Housing Program for Fiscal Year 2003'' was published in 
the Federal Register on December 27, 2002 (67 FR 79033). This was done 
prior to passage of a final appropriations act to allow sufficient time 
for applicants to complete an application and for the Agency to select 
and process selected applications within the current fiscal year. 
Detailed information regarding the application and selection process, 
as well as a listing of the Rural Development State Offices, may be 
found in the December 27, 2002, notice.

FOR FURTHER INFORMATION CONTACT: For general information, applicants 
may contact Linda Armour, Senior Loan Officer, Multi-Family Housing 
Processing Division, Rural Housing Service, United States Department of 
Agriculture, Stop 0781, 1400 Independence Avenue, SW., Washington, DC 
20250, telephone (202) 720-1753 (voice) (this is not a toll free 
number) or (800) 877-8339 (TDD-Federal Information Relay Service).

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. Rental Assistance is listed in the Catalog under Number 10.427, 
Rural Rental Assistance Payments.

Discussion of Notice

I. Authority and Distribution Methodology

A. Authority
    Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) provides 
RHS with the authority to make loans to any individual, corporation, 
association, trust, Indian tribe, public or private nonprofit 
organization, consumer cooperative, or partnership to provide rental or 
cooperative housing and related facilities in rural areas for very-low, 
low, or moderate income persons or families, including elderly persons 
and persons with disabilities. Rental Assistance (RA) is a tenant 
subsidy for very-low and low-income families residing in rural rental 
housing facilities with RHS financing and may be requested with 
applications for such facilities.
B. Distribution Methodology
    The total amount available for FY 2003 for section 515 is 
$115,052,541, of which $29,252,541 is available for new construction as 
follows:
Section 515 new construction funds--$7,145,186
Set-aside for nonprofits--10,354,728
Set-aside for Underserved Counties and Colonias--5,752,627
Set-aside for EZ, EC, and REAP Zones--5,000,000
State Rental Assistance (RA) Designated reserve--1,000,000
C. Set-asides and State RA Reserve
    1. Nonprofit set-aside. An amount of $10,354,728 has been set aside 
for nonprofit applicants. Details on this set-aside are provided in the 
notice published in the Federal Register on December 27, 2002.
    2. Underserved counties and colonias set-aside. An amount of 
$5,752,627 has been set aside for loan requests to develop units in the 
100 most needy underserved counties or colonias as defined in section 
509(f) of the Housing Act of 1949.
    3. EZ, EC, and REAP set-aside. An amount of $5,000,000 has been set 
aside to develop units in EZ, EC, or REAP communities. If requests for 
this set-aside exceed available funds, selection will be made by point 
score.
    4. State RA Reserve. $1,000,000 is available nationwide in a 
reserve for States with viable State Rental Assistance (RA) programs. 
In order to participate, States are to submit specific written 
information about the State RA program, i.e., a memorandum of 
understanding, documentation from the provider, etc., to the National 
Office.

    Dated: May 12, 2003.
Arthur A. Garcia,
Administrator, Rural Housing Service.
[FR Doc. 03-12244 Filed 5-15-03; 8:45 am]
BILLING CODE 3410-XY-P