[Federal Register Volume 78, Number 128 (Wednesday, July 3, 2013)]
[Notices]
[Pages 40161-40162]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-16073]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No: FR-5667-N-02]


Announcement of Issuance by HUD of Notice of Senior Preservation 
Rental Assistance Contracts Award Process and Solicitation of 
Applications

AGENCY: Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

[[Page 40162]]


ACTION: Notice.

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SUMMARY: This notice announces the availability on HUD's Web site of 
the ``Notice of Senior Preservation Rental Assistance Contracts Award 
Process'' (Notice), which specifies the process by which HUD will award 
Senior Preservation Assistance Contracts (SPRACs). The Notice also 
starts the application process, and solicits applications for a period 
of 60 days. The Notice can be found at: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/mfh/presrv/presmfh/sprac_contracts.

DATES: SPRAC applications must be submitted to HUD in accordance with 
the posted Notice by September 3, 2013.

FOR FURTHER INFORMATION CONTACT: Margaret Salazar, Acting Director, 
Office of Affordable Housing Preservation, Office of Housing, 
Department of Housing and Urban Development, 451 7th Street SW., Room 
6230, Washington, DC 20410; telephone number 202-708-0001 (this is not 
a toll-free number). Persons with hearing or speech impairments may 
access this number through TTY by calling the toll-free Federal Relay 
Service at 800-877-8339.

SUPPLEMENTARY INFORMATION: The Section 202 Supportive Housing for the 
Elderly Act of 2010, signed into law on January 2011, authorizes HUD to 
award SPRACs with 20-year terms to Owner-Applicants and existing 
Section 202 properties that meet the SPRAC eligibility criteria of this 
final Notice. The purpose of the SPRAC Program is to prevent the 
displacement of existing tenants of certain projects assisted under 
HUD's Section 202 Supportive Housing for the Elderly program in the 
case of refinancing or recapitalization and to further preserve and 
maintain the affordability of Section 202 Direct Loan projects. In 
Fiscal Year (FY) 2012, $16 million was made available for SPRAC 
funding.
    The Notice, posted on HUD's Web site, establishes the process by 
which HUD will award SPRACs, and commences the solicitation of 
applications. The Notice follows a January 8, 2013, advance notice in 
which HUD presented and solicited public comment on the proposed 
eligibility and award criteria. This Notice takes into consideration 
the public comments received in response to the January 8, 2013, 
solicitation.

    Dated: June 27, 2013.
Carol J. Galante,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 2013-16073 Filed 7-2-13; 8:45 am]
BILLING CODE 4210-67-P