[Federal Register Volume 69, Number 52 (Wednesday, March 17, 2004)]
[Notices]
[Pages 12638-12639]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-5962]


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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 2004

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) 2004. A ``Notice of Timeframe to Submit Applications for the 
Section 515 Rural Rental Housing Program for Fiscal Year 2004'' was 
published in the Federal Register on February 6, 2004 (69 FR 5821). 
This was done soon after 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. In the notice dated February 6, 2004, the Agency announced 
a deadline of April 6, 2004, 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) 
funds. Detailed information regarding the application and selection 
process, as well as a listing of the Rural Development State Offices, 
can be found in the February 6, 2004, notice.

FOR FURTHER INFORMATION CONTACT: For general information, applicants 
may contact Barbara Chism, 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) 690-1436 (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

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 2004 for section 515 is 
$115,857,375, of which $30,057,375 is available for new construction as 
follows:

Section 515 new construction funds--$7,837,343
Set-aside for nonprofits--$10,427,163
Set-aside for Underserved Counties and Colonias--$5,792,869
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 $10,427,163 has been set aside 
for nonprofit applicants. Details on this set-

[[Page 12639]]

aside are provided in the notice published on February 6, 2004 (69 FR 
5821).
    2. Underserved counties and colonias set-aside. An amount of 
$5,792,868 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: March 9, 2004.
Arthur A. Garcia,
Administrator, Rural Housing Service.
[FR Doc. 04-5962 Filed 3-16-04; 8:45 am]
BILLING CODE 3410-XV-P