[Federal Register Volume 84, Number 26 (Thursday, February 7, 2019)]
[Notices]
[Pages 2487-2488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-01350]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Guaranteed Rural Rental Housing Low Loan-to-Cost Ratio

AGENCY: Rural Housing Service, USDA.

ACTION: Notice.

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SUMMARY: The Rural Housing Service announces the low loan-to-cost ratio 
required for loans guaranteed under Option Three (Continuous Guarantee) 
of the Guaranteed Rural Rental Housing Program (GRRHP). The low loan-
to-cost ratio is defined as a maximum of 70 percent in order for a loan 
to be eligible for a single continuous guarantee for construction and 
permanent loans. The Rural Housing Service is not modifying the lease-
up reserves or percent of guarantee previously established for this 
program.

DATES: Applicability date: February 7, 2019.

FOR FURTHER INFORMATION CONTACT: Tammy Daniels, Financial and Loan 
Analyst, USDA, Rural Development, Guaranteed Rural Rental Housing 
Program, Multi-Family Housing Guaranteed Loan Division, Room 1263-S, 
STOP 0781, 1400 Independence Avenue SW, Washington, DC 20250-0781. 
Email: [email protected]. Telephone: (202) 720-0021. This 
number is not toll-free. Hearing or speech-impaired persons may access 
that number by calling the Federal Information Relay Service toll-free 
at (800) 877-8339.

SUPPLEMENTARY INFORMATION: The GRRHP is authorized by Section 538 of 
the Housing Act of 1949, as amended (42 U.S.C. 1490p-2) and operates 
under 7 CFR part 3565. A previous Federal Register Notice (77 FR 54877, 
September 6, 2012) set the loan to cost ratio requirement for the 
Continuous Guarantee to 50 percent or less of the total development 
cost. As set forth in 7 CFR part 3565, the Agency will define the loan 
to cost ratio. With this Notice, the loan to-cost-ratio is now being 
increased to 70 percent or less of the total development cost for loan 
guarantees that meet the Agency's requirement for Option Three 
(Continuous Guarantee).
    Non-Discrimination Statement: In accordance with Federal civil 
rights law and U.S. Department of Agriculture

[[Page 2488]]

(USDA) civil rights regulations and policies, the USDA, its Agencies, 
offices, and employees, and institutions participating in or 
administering USDA programs are prohibited from discriminating based on 
race, color, national origin, religion, sex, gender identity (including 
gender expression), sexual orientation, disability, age, marital 
status, family/parental status, income derived from a public assistance 
program, political beliefs, or reprisal or retaliation for prior civil 
rights activity, in any program or activity conducted or funded by USDA 
(not all bases apply to all programs). Remedies and complaint filing 
deadlines vary by program or incident.
    Persons with disabilities who require alternative means of 
communication for program information (e.g., Braille, large print, 
audiotape, American Sign Language, etc.) should contact the responsible 
Agency or USDA's TARGET Center at (202) 720-2600 (voice and TTY) or 
contact USDA through the Federal Relay Service at (800) 877-8339. 
Additionally, program information may be made available in languages 
other than English.
    To file a program discrimination complaint, complete the USDA 
Program Discrimination Complaint Form, AD-3027, found online at http://www.ascr.usda.gov/complaint_filing_cust.html and at any USDA office or 
write a letter addressed to USDA and provide in the letter all of the 
information requested in the form. To request a copy of the complaint 
form, call (866) 632-9992. Submit your completed form or letter to USDA 
by:
    (1) Mail: U.S. Department of Agriculture, Office of the Assistant 
Secretary for Civil Rights, 1400 Independence Avenue SW, Washington DC 
20250-9410;
    (2) Fax: (202) 690-7442; or
    (3) Email: [email protected].

Joel C. Baxley,
Administrator, Rural Housing Service.
[FR Doc. 2019-01350 Filed 2-6-19; 8:45 am]
BILLING CODE 3410-XV-P