[Federal Register Volume 84, Number 217 (Friday, November 8, 2019)]
[Notices]
[Pages 60404-60405]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-24433]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7016-N-04]


60-Day Notice of Proposed Information Collection: Survey of 
Market Absorption of New Multifamily Units

AGENCY: Office of the Assistant Secretary for Policy Development and 
Research, HUD.

ACTION: Notice.

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SUMMARY: The U.S. Department of Housing and Urban Development (HUD) is 
seeking approval from the Office of Management and Budget (OMB) for the 
information collection described below. In accordance with the 
Paperwork Reduction Act, HUD is requesting comment from all interested 
parties on the proposed collection of information. The purpose of this 
notice is to allow for 60 days of public comment.

DATES: Comments Due Date: January 7, 2020.

[[Page 60405]]


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: Anna P. Guido, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW, Room 4176, Washington, DC 20410-5000; telephone 202-402-5534 
(this is not a toll-free number) or email at [email protected] for a 
copy of the proposed forms or other available information. Persons with 
hearing or speech impairments may access this number through TTY by 
calling the toll-free Federal Relay Service at (800) 877-8339.

FOR FURTHER INFORMATION CONTACT: Anna P. Guido, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW, Washington, DC 20410; email Anna P. Guido at 
[email protected] or telephone 202-402-5535. 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.
    Copies of available documents submitted to OMB may be obtained from 
Ms. Guido.

SUPPLEMENTARY INFORMATION: This notice informs the public that HUD is 
seeking approval from OMB for the information collection described in 
Section A.

A. Overview of Information Collection

    Title of Information Collection: Survey of Market Absorption of New 
Multifamily Units.
    OMB Approval Number: 2528-0013 (Expires July 31, 2020).
    Type of Request (i.e., new, revision or extension of currently 
approved collection): Revision of a currently approved collection.
    Form Number: N/A.
    Description of the need for the information and proposed use: The 
Survey of Market Absorption (SOMA) provides the data necessary to 
measure the rate at which new rental apartments and new condominium 
apartments are absorbed; that is, taken off the market, usually by 
being rented or sold, over the course of the first twelve months 
following completion of a building. The data are collected at quarterly 
intervals until the twelve months conclude, or until the units in a 
building are completely absorbed. The survey also provides estimates of 
certain characteristics, including asking rent/price, number of units, 
and number of bedrooms. The survey provides a basis for analyzing the 
degree to which new apartment construction is meeting the present and 
future needs of the public.
    Members of affected public: Rental Agents/Builders.
    Estimated Number of Respondents: 12,000 yearly (maximum).
    Estimated Time per Response: 15 minutes/initial interview and 5 
minutes for any subsequent interviews (up to three additional, if 
necessary).
    Frequency of Response: Four times (maximum).
    Estimated Total Annual Burden Hours: 6,000 (12,000 buildings x 30 
minutes).
    Estimated Total Annual Cost: The only cost to respondents is that 
of their time. The total estimated cost to HUD in FY 2020 is 
$1,830,000.
    Respondent's Obligation: Voluntary.
    Legal Authority: The survey is conducted under Title 12, United 
States Code, Section 1701Z.

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                                       Number of     Frequency of    Responses per     Burden hour per     Annual burden    Hourly cost
      Information collection          respondents      response          annum            response             hours       per response        Cost
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SOMA..............................          12,000               4          48,000  .125 (30 minutes               6,000              $0              $0
                                                                                     total divided by 4
                                                                                     interviews).
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    Total.........................          12,000               4          48,000  .125................           6,000               0               0
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B. Solicitation of Public Comment

    This notice is soliciting comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) 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;
    (2) The accuracy of the agency's estimate of the burden of the 
proposed collection of information;
    (3) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (4) Ways to minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated collection techniques or other forms of information 
technology, e.g., permitting electronic submission of responses. HUD 
encourages interested parties to submit comment in response to these 
questions.

    Authority:  Section 3507 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35.

    Dated: October 28, 2019.
Seth D. Appleton,
Assistant Secretary for Policy Development and Research.
[FR Doc. 2019-24433 Filed 11-7-19; 8:45 am]
 BILLING CODE 4210-67-P