[Federal Register Volume 69, Number 86 (Tuesday, May 4, 2004)]
[Notices]
[Page 24660]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-10109]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4907-N17]


Notice of Proposed Information Collection: Comment Request; 
Review of Health Care Facility Portfolios

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, 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 review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: July 6, 2004.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Wayne Eddins, Reports Management 
Officer, Department of Housing and Urban Development, 451 7th Street, 
SW., L'Enfant Plaza Building, Room 8003, Washington, DC 20410 or 
[email protected].

FOR FURTHER INFORMATION CONTACT: Michael McCullough, Director, Office 
of Multifamily Housing Development, Department of Housing and Urban 
Development, 451 7th Street SW., Washington, DC 20410, telephone (202) 
708-1142 (this is not a toll free number) for copies of the proposed 
forms and other available information.

SUPPLEMENTARY INFORMATION: The Department is submitting the proposed 
information collection 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 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: Review of Health Care Facility Portfolios.
    OMB Control Number, if applicable: 2502-0545.
    Description of the need for the information and proposed use: An 
owner and/or an operator of health care facilities (nursing homes, 
intermediate care facilities, board and care facilities, or assisted 
living facilities) may wish to finance or refinance large groups of 
those facilities. Owners and/or operators of health care facilities 
applying for finance or refinance a minimum of 11 health care 
facilities, with combined estimated mortgage amount of $75 million or 
more during an 18 month period must furnish information that was not 
previously required with the application for mortgage insurance. The 
owner and/or operator will be acting with an FHA-approved lender or a 
MAP-approved lender. The information includes a Corporate Credit 
Analysis to be submitted to a credit rating agency (Standard & Poor's, 
Moody's Investor Services, Fitch IBCA, Duff & Phelps). The Corporate 
Credit Analysis includes detailed financial information, management 
policies, and corporate strategy. Owners/operators with 50 or more 
projects, with an estimated combined mortgage amount of $250 million or 
more must file, in addition to the Corporate Credit Analysis, detailed 
information that is required for non-portfolio owners in connection 
with the site visit. These large-size owners/operators must also 
provide information on their other properties and other business 
ventures not being financed.
    The information is collected and evaluated, first by a rating 
agency and then by HUD. The purpose is to determine the financial 
strength and management reliability of the owner/operator. If the owner 
and/or the operator should go into bankruptcy or be unable to continue 
management of its large group of properties, to keep operating 
successfully would be severely jeopardized. The failure of the owner/
operator could lead to large number of claims against the mortgage 
insurance fund.
    Agency form numbers, if applicable: None.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The estimated number of burden hours 
needed to prepare the information collection is 1,200; the number of 
respondents is 15 generating approximately 15 annual responses; the 
frequency of response is on occasion; and the estimated time needed to 
prepare the response 80 hours (80 hours x 15 responses=1200 burden 
hours).
    Status of the proposed information collection: Extension of 
currently approved collection.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., 
Chapter 35, as amended.

    Dated: April 23, 2004.
Sean G. Cassidy,
General Deputy Assistant Secretary for Housing--Deputy Federal Housing 
Commissioner.
[FR Doc. 04-10109 Filed 5-3-04; 8:45 am]
BILLING CODE 4210-27-M