[Federal Register Volume 88, Number 95 (Wednesday, May 17, 2023)]
[Notices]
[Pages 31515-31516]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-10529]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-7075-N-06]


60-Day Notice of Proposed Information Collection: Survey of 
Market Absorption of New Multifamily Units; OMB Control No.: 2528-0013

AGENCY: Office of Policy Development and Research, HUD.

ACTION: Notice.

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SUMMARY: 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: July 17, 2023.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Written comments and recommendations for the proposed 
information collection can be submitted within 60 days of publication 
of this notice to www.reginfo.gov/public/do/PRAMain. Find this 
particular information collection by selecting, ``Currently under 60-
day Review--Open for Public Comments'' or by using the search function. 
Interested persons are also invited to submit comments regarding this 
proposal by name and/or OMB Control Number and can be sent to: Anna 
Guido, Reports Management Officer, REE, Department of Housing and Urban 
Development, 451 7th Street SW, Room 8210, Washington, DC 20410-5000 or 
email at [email protected].

FOR FURTHER INFORMATION CONTACT: Anna Guido, Reports Management 
Officer, Department of Housing and Urban Development, 451 7th Street 
SW, Washington, DC 20410; email Anna Guido at [email protected], 
telephone 202-402-5535 (this is not a toll-free number). HUD welcomes 
and is prepared to receive calls from individuals who are deaf or hard 
of hearing, as well as individuals with speech or communication 
disabilities. To learn more about how to make an accessible telephone 
call, please visit https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.
    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.
    Type of Request: Extension without change to 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 12 months following 
completion of a building. The data are collected at quarterly intervals 
until the 12 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 2023 is 
$1,940,000.
    Legal Authority: The survey is conducted under title 12, United 
States Code, section 1701z.

[[Page 31516]]



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                               Number of       Frequency of    Responses per      Burden hour  per      Annual burden   Hourly cost per
  Information collection      respondents        response          annum              response              hours           response           Cost
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SOMA......................          12,000                4           48,000   .125 (30 minutes total           6,000           $40.51         $243,060
                                                                                divided by four
                                                                                interviews).
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    Respondent's Obligation: Participation is voluntary.

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 comments in response to 
these questions.

C. Authority

    Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 
3507.

Todd M. Richardson,
General Deputy Assistant Secretary for Policy, Development and 
Research.
[FR Doc. 2023-10529 Filed 5-16-23; 8:45 am]
BILLING CODE 4210-67-P