[Federal Register Volume 68, Number 107 (Wednesday, June 4, 2003)]
[Notices]
[Pages 33471-33472]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-14030]


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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 August 4, 2003, 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: October 31, 2003.
    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 non-profit 
organization or public agency. Prepayment can only be accepted if RHS 
decides there is no need for the housing or if no nonprofit 
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 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 or 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 Brigitte 
Sumter, Regulations and Paperwork Management Branch, Support Services 
Division, Branch, at (202) 692-0042.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
[Agency], including whether the information will have practical 
utility; (b) the accuracy of [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

[[Page 33472]]

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: May 14, 2003.
Arthur A. Garcia,
Administrator, Rural Housing Service.
[FR Doc. 03-14030 Filed 6-3-03; 8:45 am]
BILLING CODE 3410-XV-P