[Federal Register Volume 69, Number 27 (Tuesday, February 10, 2004)]
[Notices]
[Page 6320]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-2770]



[[Page 6320]]

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4909-N-02]


Notice of Proposed Information Collection for Public Comment on 
the Survey of Market Absorption of New Multifamily Units

AGENCY: Office of Policy Development and Research, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for approval as required by the Paperwork Reduction Act of 1995. The 
Department is soliciting public comments on the subject proposal.

DATES: Comments Due Date: April 12, 2004.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name/or OMB 
Control Number and should be sent to: Reports Liaison Officer, Office 
of Policy Devleopment and Research, Department of Housing and Urban 
Development, 451 7th Street, SW., Room 8226, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Ronald J. Sepanik, Director, Housing 
and Demographic Analysis Division, Office of Policy Development and 
Research, Department of Housing and Urban Development, 451 7th Street, 
SW., Washington, DC 20410; (202) 708-1060, x5887. This is not a toll-
free number. Copies of the proposed forms and other available documents 
submitted to OMB may be obtained from Mr. Sepanik.

SUPPLEMENTARY INFORMATION: The Department of Housing and Urban 
Development will submit the proposed information collection package to 
OMB for review as required by the Paperwork Reduction Act of 1995 (44 
U.S.C. chapter 35, as amended).
    This Notice is soliciting comments from members of the public and 
affected agencies concerning the proposed collection of information to 
(1) Evaluate 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; (2) 
Evaluate the accuracy of the agency's estimate of the burden of the 
proposed collection of information; (3) Enhance the quality, utility, 
and clarity of the information to be collected; and (4) Minimize the 
burden of the collection of information on those who are to respond; 
including the use of appropriate automated collection techniques or 
other forms of information technology, e.g., permitting electronic 
submission of responses.
    This Notice also lists the following information:
    Title of Proposal: Survey of Market Absorption of New Multifamily 
Units.
    OMB Control Number: 2528-0013 (Expires 10/31/04).
    Description of the need for the information and proposed use: The 
Survey of Market Absorption (SOMA) provides the data necessary to 
measure the rate at which new rental apartments and new condominium 
apartments are absorbed; that is, taken off the market, usually by 
being rented or sold, over the course of the first twelve months 
following completion of a building.
    The data is collected at quarterly intervals until the twelve 
months conclude, or until the units in a building are completely 
absorbed. The survey also provides estimates of certain 
characteristics, i.e., asking rent/price, number of units, and number 
of bedrooms.
    The survey provides a basis for analyzing the degree to which new 
apartment construction is meeting the present and future needs of the 
public. Additionally, beginning with new construction in 2002, the 
survey will attempt to ascertain the number and degree of services 
provided by ``Assisted Living'' type units.
    Members of affected public: Rental Agents/Builders.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response:
    Estimated Number of Respondents: 12,000 yearly (maximum).
    Estimated Time Per Response: 20 minutes.
    Frequency of Response: four times (maximum).
    Estimated Total Annual Burden Hours: 4,000 (12,000 x 20 minutes).
    Estimated Total Annual Cost: The only cost to respondents is that 
of their time.

    Authority: The survey is taken under Title 12, United States 
Code, Section 1701Z.

    Dated: January 29, 2004.
Darlene F. Williams,
General Deputy Assistant Secretary for Policy Development and Research.
[FR Doc. 04-2770 Filed 2-9-04; 8:45 am]
BILLING CODE 4210-62-M