[Federal Register Volume 76, Number 7 (Tuesday, January 11, 2011)]
[Notices]
[Pages 1596-1597]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-305]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCY: 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 the Guaranteed Rural Rental Housing Program.

DATES: Comments on this Notice must be received by March 14, 2011 to be 
assured of consideration.

FOR FURTHER INFORMATION CONTACT: Tammy Daniels, Financial and Loan 
Analyst, Multi-Family Housing Guaranteed Loan Division, Rural Housing 
Service, USDA, Stop 0781, 1400 Independence Avenue, SW., Washington, DC 
20250, telephone: (202) 720-0021.

SUPPLEMENTARY INFORMATION: 
    Title: Guaranteed Rural Rental Housing Program.
    OMB Number: 0575-0174.
    Expiration Date of Approval: June 30, 2011.
    Type of Request: Extension of a Currently Approved Information 
Collection.
    Abstract: On March 28, 1996, President Clinton signed the ``Housing 
Opportunity Program Extension Act of 1996.'' One of the provisions of 
the Act was the authorization of the Section 538 Guaranteed Rural 
Rental Housing Loan Program, adding the program to the Housing Act of 
1949. The program has been designed to increase the supply of 
affordable Multi-Family Housing (MFH) through partnerships between RHS 
and major lending sources, as well as State and local housing finance 
agencies and bond issuers. Qualified lenders will be authorized to 
originate, underwrite, and close loans for MFH projects. To be 
considered, these projects must be either new construction or 
acquisition with rehabilitation with at least $6,500 per unit.

[[Page 1597]]

    The housing must be available for occupancy only to low- or 
moderate-income families or persons, whose incomes at the time of 
initial occupancy do not exceed 115 percent of the median income of the 
area. After initial occupancy, the tenant's income may exceed these 
limits; however, rents, including utilities, are restricted to no more 
than 30 percent of the 115 percent of area median income for the term 
of the loan.
    The Secretary is authorized under Section 510(k) of the Housing Act 
of 1949 to prescribe regulations to ensure that these federally-funded 
loans are made to eligible applicants for authorized purposes. The 
lender must evaluate the eligibility, cost, benefits, feasibility, and 
financial performance of the proposed project. The Agency collects this 
information from the lender to determine if funds are being used to 
meet the goals and mission of Rural Development. The information 
submitted by the lender to the Agency is used by the Agency to manage, 
plan, evaluate, and account for Government resources.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 1.8 man hours per response.
    Respondents: Non-profit and for-profit lending corporations and 
public bodies.
    Estimated Number of Respondents: 150.
    Estimated Number of Responses per Respondent: 16.7.
    Estimated Number of Responses: 2,498.
    Estimated Total Annual Burden on Respondents: 1,389 hours.
    Copies of this information collection can be obtained from Jeanne 
Jacobs, Regulations and Paperwork Management Branch, at (202) 692-0040.
    Comments:
    Comments are invited on: (a) 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; (b) the accuracy of the 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 automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology. Comments may be sent to Jeanne 
Jacobs, Regulations and Paperwork Management Branch, U.S. Department of 
Agriculture, Rural Development, STOP 0742, 1400 Independence Avenue, 
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: January 3, 2011.
Tammye Trevi[ntilde]o,
Administrator, Rural Housing Service.
[FR Doc. 2011-305 Filed 1-10-11; 8:45 am]
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