[Federal Register Volume 85, Number 169 (Monday, August 31, 2020)]
[Notices]
[Pages 53791-53792]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19075]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Request for Revision 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 (RHS) intention to request 
a revision 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 October 30, 2020 to 
be assured consideration.

FOR FURTHER INFORMATION CONTACT: Lauren Cusick, Management Analyst, 
Regulations Management Division, Rural Development, USDA, STOP 0741, 
1400 Independence Avenue SW, Washington, DC 20250, telephone: (202) 
720-1414, email [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Guaranteed Rural Rental Housing Program.
    OMB Control Number: 0575-0174.
    Expiration Date of Approval: February 28, 2021.
    Type of Request: Revision 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 53792]]

    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 be 2,079 man hours.
    Respondents: Non-profit and for-profit lending corporations and 
public bodies.
    Estimated Number of Respondents: 160.
    Estimated Number of Responses per Respondent: 18.3.
    Estimated Number of Responses: 2,934.
    Estimated Total Annual Burden on Respondents: 2,079 hours.
    Copies of this information collection can be obtained from Lauren 
Cusick, Regulations Management Division, at (202) 720-1414. Email: 
[email protected].

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 by the 
Federal eRulemaking Portal: Go to http://www.regulations.gov and, in 
the lower ``Search Regulations and Federal Actions'' box, select 
``RHS'' from the agency drop-down menu, then click on ``Submit.'' In 
the Docket ID column, select 0575-0174 to submit or view public 
comments and to view supporting and related materials available 
electronically. Information on using Regulations.gov, including 
instructions for accessing documents, submitting comments, and viewing 
the docket after the close of the comment period, is available through 
the site's ``User Tips'' link.

Elizabeth Green,
Administrator, Rural Housing Service.
[FR Doc. 2020-19075 Filed 8-28-20; 8:45 am]
BILLING CODE 3410-XV-P