Sunteți pe pagina 1din 8

Federal Register / Vol. 72, No.

37 / Monday, February 26, 2007 / Notices 8339

public record on this proposal and will both reasonable and acceptable for this site address http://
be available for public inspection. sort of unique recreation experience. www.rurdev.usda.gov/regs/
(Authority: 40 CFR 1501.7 and 1508.22; People wanting to rent the Sherman hblist.html#hbw6.
Forest Service Handbook 1909.15, Section Guard Station Cabins will need to do so Eligible lenders are invited to submit
21) through the National Recreation responses for the development of
Reservation Service, at http:// affordable rural rental housing, the
Dated: February 20, 2007.
www.reserveusa.com or by calling acquisition with rehabilitation of
Kevin Martin,
1–877–444–6777. The National affordable rural rental housing, and the
Forest Supervisor. Recreation Reservation Service charges revitalization, repair, and transfer (as
[FR Doc. 07–841 Filed 2–23–07; 8:45 am] a $9 fee for reservations. stipulated in 7 CFR 3560.406) of
BILLING CODE 3410–11–M
Dated: February 8, 2007. existing direct section 515 housing
Kniffy Hamilton, (transfer costs are subject to Agency
Bridger-Teton National Forest Supervisor. approval and must be an eligible use of
DEPARTMENT OF AGRICULTURE loan proceeds as listed in 7 CFR
[FR Doc. 07–843 Filed 2–23–07; 8:45 am]
Forest Service 3565.205). Equity payment, as
BILLING CODE 3410–11–M
stipulated 7 CFR 3560.406, in the
Notice of New Fee Site; Federal Lands transfer of existing direct section 515
Recreation Enhancement Act, (Title DEPARTMENT OF AGRICULTURE housing, is an eligible use of loan
VIII, Pub. L. 108–447) proceeds. In order to be considered,
Rural Housing Service direct section 515 housing projects must
AGENCY: Bridger-Teton National Forest, need repairs and/or undergo
Forest Service USDA. Notice for Requests for Proposals for revitalization of a minimum of $6,500
ACTION: Notice of new fee site. Guaranteed Loans under the Section per unit.
538; Guaranteed Rural Rental Housing The Rural Housing Service (RHS) will
SUMMARY: The Bridger-Teton National
Program (GRRHP) for Fiscal Year 2007 review responses submitted by eligible
Forest is planning to charge a $40 fee for lenders, on the lender’s letterhead, and
the overnight rental of each of the AGENCY: Rural Housing Service, USDA.
signed by both the prospective borrower
Sherman Guard Station Cabins. The ACTION: Notice. and lender. Although a complete
cabins have not been available for application is not required in response
recreation use prior to this date. Rentals SUMMARY: This is a request for proposals
for guaranteed loans under the section to this Notice of requests for proposals,
of other cabins on the Bridger-Teton eligible lenders may submit a complete
National Forest have shown that people 538 Guaranteed Rural Rental Housing
Program (GRRHP) pursuant to 7 CFR application concurrently with the
appreciate and enjoy the availability of response. However, submitting a
historic rental cabins. Funds from the 3565.4 for Fiscal Year (FY) 2007 subject
to the availability of funding. FY 2006 complete application will not have an
rental will be used for the continued effect on the respondent’s score.
operation and maintenance of the funding for the section 538 was $99
million. This Notice is being issued DATES: The RHS will review and score
Sherman Guard Station Cabins.
prior to passage of a final appropriations all responses received through April 27,
DATES: The Sherman Guard Station
bill to allow applicants sufficient time 2007. Those responses that are selected
Cabins will become available for that subsequently submit complete
to leverage financing and submit
recreation rental in July, 2007. applications and meet all Federal
proposals in the form of ‘‘RESPONSES’’,
ADDRESSES: Forest Supervisor, Bridger- and give the Agency maximum time to environmental requirements will
Teton National Forest, P.O. Box 1888, process applications within the current receive commitments to the extent an
340 Cache, Jackson, WY 83001. fiscal year. A Notice of Funding appropriation act provides funding for
FOR FURTHER INFORMATION CONTACT: Gary Availability will be published GRRHP for FY 2007 until all funds are
Hayward, Resource Specialist, 307–276– announcing the funding level for expended. Responses received prior to
5813 or Timothy Ditton, Office GRRHP for FY 2007 once an April 27, 2007, that meet program
Automation Clerk, 307–276–5800. appropriations act has been enacted. criteria, but score less than 25 points or
SUPPLEMENTARY INFORMATION: The The commitment of program dollars score 25 points or more but have a
Federal Recreation Lands Enhancement will be made to applicants of selected development cost ratio of equal to or
Act (Title VII, Pub. L. 108–447) directed responses that have fulfilled the more than 70 percent may be selected
the Secretary of Agriculture to publish necessary requirements for obligation, to for obligation after April 27, 2007, with
a six month advance notice in the the extent an appropriation act provides the highest scoring responses receiving
Federal Register whenever new funding for GRRHP for FY 2007. priority as long as funds remain
recreation fee areas are established. This Expenses incurred in developing available. The Agency will continue to
new fee will be reviewed by a applications will be at the applicant’s select the highest scoring Notice
Recreation Resource Advisory risk. The following paragraphs outline responses received after April 27, 2007,
Committee prior to a final decision and the timeframes, eligibility requirements, notwithstanding the score, as long as the
implementation. lender responsibilities, and the overall response meets program criteria and
The Bridger-Teton National Forest response and application processes. funds remain available using the
currently has four other cabin rentals. The GRRHP operates under 7 CFR procedure outlined in the next
These rentals are regularly booked part 3565. The GRRHP Origination and paragraph.
throughout their rental season. A Servicing Handbook (HB–1–3565) is Once a complete application is
business analysis of Historic Guard available to provide lenders and the received and approved by the State
ycherry on PROD1PC64 with NOTICES

Station Cabins has shown that people general public with guidance on Office, an obligation request (request)
desire having this sort of recreation program administration. HB–1–3565, for 2007 funds will be submitted [via
experience on the Bridger-Teton which contains a copy of 7 CFR part fax] by the State Office to the National
National Forest. A market analysis 3565 in Appendix 1, can be found at the Office. Requests submitted to the
indicates that the $40/per night fee is Rural Development Instructions Web National Office will be accumulated, but

VerDate Aug<31>2005 17:37 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00003 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
8340 Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices

not obligated, throughout the week until http://www.rurdev.usda.gov/ 990–9110, TDD (207) 942–7331, Dale D.
the weekly request submission deadline recd_map.html] Holmes
of midnight Eastern Standard Time Maryland—Served by Delaware State Office
Note: Telephone numbers listed are not Massachusetts, Connecticut, & Rhode Island
(e.s.t.) every Thursday. To the extent toll-free. State Office, 451 West Street, Amherst, MA
that an appropriations act provides 01002, (413) 253–4333, TDD (413) 253–
Alabama State Office, Suite 601, Sterling
funding for GRRHP for FY 2007 and Centre, 4121 Carmichael Road, 4590, Donald Colburn
provided that funds remain, the Montgomery, AL 36106–3683, (334) 279– Michigan State Office, 3001 Coolidge Road,
National Office will obligate the 3455, TDD (334) 279–3495, James B. Harris Suite 200, East Lansing, MI 48823, (517)
requests accumulated through the Alaska State Office, 800 West Evergreen, 324–5192, TDD (517) 337–6795, Ghulam R.
weekly request submission deadline of Suite 201, Palmer, AK 99645, (907) 761– Sumbal
the previous week by the following 7740, TDD (907) 761–8905, Deborah Davis Minnesota State Office, 375 Jackson Street
Tuesday (i.e., requests received from Arizona State Office, Phoenix Courthouse Building, Suite 410, St. Paul, MN 55101–
and Federal Building, 230 North First Ave., 1853, (651) 602–7782, TDD (651) 602–
Friday, May 18, 2007, to Thursday, May
Suite 206, Phoenix, AZ 85003–1706, (602) 7830, Jackie Morris
24, 2007, will be obligated by Tuesday, Mississippi State Office, Federal Building,
280–8765, TDD (602) 280–8706, Ernie
May 29, 2007). However, requests Wetherby Suite 831, 100 W. Capitol Street, Jackson,
received prior to April 27, 2007 that are Arkansas State Office, 700 W. Capitol Ave., MS 39269, (601) 965–4325, TDD (601) 965–
not eligible for obligation until after Room 3416, Little Rock, AR 72201–3225, 5850, Darnella Smith-Murray
April 27, 2007, will be obligated no (501) 301–3250, TDD (501) 301–3063, Missouri State Office, 601 Business Loop 70
earlier than Tuesday, May 1, 2007. Gregory Kemper West, Parkade Center, Suite 235, Columbia,
Funds will be allocated in scoring order, California State Office, 430 G Street, #4169, MO 65203, (573) 876–0990, TDD (573)
with the highest scoring requests being Davis, CA 95616–4169, (530) 792–5830, 876–9480, Anita J. Dunning
obligated first, until all funds are TDD (530) 792–5848, Stephen Nnodim Montana State Office, 900 Technology Blvd.,
Colorado State Office, 655 Parfet Street, Suite B, Bozeman, MT 59715, (406) 585–
exhausted. In the event of a tie, priority 2565, TDD (406) 585–2562, Deborah
Room E100, Lakewood, CO 80215, (720)
will be given to the project that: 1st— 544–2923, TDD (800) 659–2656, Jamie Chorlton
has the highest percentage of leveraging Spakow Nebraska State Office, Federal Building,
(lowest Loan to Cost); 2nd—is in the Connecticut—Served by Massachusetts State Room 152, 100 Centennial Mall N, Lincoln,
smaller rural community. Office NE 68508, (402) 437–5594, TDD (402) 437–
As long as funds remain available, Delaware and Maryland State Office, 1221 5093, Byron L. Fischer
requests will be accepted and obligated College Park Drive, Suite 200, Dover, DE Nevada State Office, 1390 South Curry Street,
per this guidance until, September 28, 19904, (302) 857–3600, TDD (302) 857– Carson City, NV, 89703–9910, (775) 887–
2007, 12 p.m. e.s.t. Once FY 2007 funds 3585, W. Drew Clendaniel 1222 (ext. 25), TDD (775) 885–0633,
are exhausted, if eligible, requests not Florida & Virgin Islands State Office, 4440 William Brewer
N.W. 25th Place, Gainesville, FL 32606– New Hampshire State Office, Concord
obligated will be retained for
6563, (352) 338–3465, TDD (352) 338– Center, Suite 218, Box 317, 10 Ferry Street,
consideration for FY 2008 funds 3499, Elizabeth M. Whitaker Concord, NH 03301–5004, (603) 223–6046,
without having to submit a new Georgia State Office, Stephens Federal TDD (603) 229–0536, Robert McDonald
response. A notice will be placed in the Building, 355 E. Hancock Avenue, Athens, New Jersey State Office, 5th Floor North,
Federal Register if all FY 2007 funds are GA 30601–2768, (706) 546–2164, TDD Suite 500, 8000 Midlantic Dr., Mt. Laurel,
committed prior to September 28, 2007. (706) 546–2034, Wayne Rogers NJ 08054, (856) 787–7740, TDD (856) 787–
Eligible lenders mailing a response or Hawaii State Office, (Services all Hawaii, 7784, George Hyatt, Jr.
application must provide sufficient time American Samoa Guam, and Western New Mexico State Office, 6200 Jefferson St.,
to permit delivery to the Submission Pacific), Room 311, Federal Building, 154 NE, Room 255, Albuquerque, NM 87109,
Address on or before the closing Waianuenue Avenue, Hilo, HI 96720, (808) (505) 761–4944, TDD (505) 761–4938, Art
deadline date and time. Acceptance by 933–8305, TDD (808) 541–2600, Thao Garcia
Khamoui New York State Office, The Galleries of
a U.S. Post Office or private mailer does
Idaho State Office, Suite A1, 9173 West Syracuse, 441 S. Salina Street, Suite 357,
not constitute delivery. Postage due Barnes Dr., Boise, ID 83709, (208) 378– 5th Floor, Syracuse, NY 13202, (315) 477–
responses and applications will not be 5630, TDD (208) 378–5644, Roni Atkins 6419, TDD (315) 477–6447, George N. Von
accepted. Illinois State Office, 2118 West Park Court, Pless
Submission Address: Eligible lenders Suite A, Champaign, IL 61821–2986, (217) North Carolina State Office, 4405 Bland
will send responses to the Multi-Family 403–6222, TDD (217) 403–6240, Barry L. Road, Suite 260, Raleigh, NC 27609, (919)
Housing Director in the State Office Ramsey 873–2066, TDD (919) 873–2003, William
where the project will be located. The Indiana State Office, 5975 Lakeside Hobbs
lender will also send a copy of its Boulevard, Indianapolis, IN 46278, (317) North Dakota State Office, Federal Building,
response (copies of ‘‘Lender 290–3100 (ext. 423), TDD (317) 290–3343, Room 208, 220 East Rosser, PO Box 1737.
Certification’’ letter and ‘‘Project John Young Bismarck, ND 58502, (701) 530–2049, TDD
Iowa State Office, 210 Walnut Street Room (701) 530–2113, Donald L. Warren
Specific Data’’ sheets only; do not 873, Des Moines, IA 50309, (515) 284– Ohio State Office, Federal Building, Room
include any application supporting 4666, TDD (515) 284–4858, Ambrose H. 507, 200 North High Street, Columbus, OH
documentation, i.e., market studies, McGuire 43215–2477, (614) 255–2418, TDD (614)
plans/specs, etc.) to: C.B. Alonso, Senior Kansas State Office, 1303 SW First American 255–2554, Gerald Arnott
Loan Specialist, Guaranteed Rural Place, Suite 100, Topeka, KS 66604–4040, Oklahoma State Office, 100 USDA, Suite 108,
Rental Housing Program, Multi-Family (785) 271–2721, TDD (785) 271–2767, Tim Stillwater, OK 74074–2654, (405) 742–
Housing Processing Division, U.S. Rogers 1070, TDD (405) 742–1007, Anita Kinyon
Department of Agriculture, South Kentucky State Office, 771 Corporate Drive, Oregon State Office, 101 SW Main, Suite
Agriculture Building, Room 1271, STOP Suite 200, Lexington, KY 40503, (859) 224– 1410, Portland, OR 97204–3222, (503) 414–
7325, TDD (859) 224–7422, Paul Higgins 3325, TDD (503) 414–3387, Jillene Davis
0781, 1400 Independence Avenue, SW.,
ycherry on PROD1PC64 with NOTICES

Louisiana State Office, 3727 Government Pennsylvania State Office, One Credit Union
Washington, DC 20250–0781. Street, Alexandria, LA 71302, (318) 473– Place, Suite 330, Harrisburg, PA 17110–
Rural Development State Offices, their 7962, TDD (318) 473–7655, Yvonne R. 2996, (717) 237–2281, TDD (717) 237–
addresses, telephone numbers, and Emerson 2261, Frank Wetherhold
person to contact follows: [this Maine State Office, 967 Illinois Ave., Suite 4, Puerto Rico State Office, 654 Munoz Rivera
information may also be found at PO Box 405, Bangor, ME 04402–0405, (207) Avenue, IBM Plaza, Suite 601, Hato Rey,

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00004 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices 8341

PR 00918, (787) 766–5095 (ext. 249), TDD constraints stipulated by the ‘‘construction’’ portion of a
(787) 766–5332, Pedro Gomez corresponding State Office have been construction/permanent loan.
Rhode Island—Served by Massachusetts cancelled. A new response for the The maximum guarantee for a
State Office project may be submitted subject to the permanent loan will be 90 percent of the
South Carolina State Office, Strom unpaid principal and interest up to
Thurmond Federal Building, 1835
conditions of this Notice.
Assembly Street, Room 1007 Columbia, SC
FY 2006 NOFA responses that were default and accrued interest 90 calendar
29201, (803) 253–3432, TDD (803) 765– selected by the Agency, and a complete days from the date the liquidation plan
5697, Larry D. Floyd application (including all Federal is approved by the Agency, as defined
South Dakota State Office, Federal Building, environmental documents required by 7 in 7 CFR 3565.452. Penalties incurred as
Room 210, 200 Fourth Street, SW., Huron, CFR part 1940, subpart G, a Form RD a result of default are not covered by the
SD 57350, (605) 352–1132, TDD (605) 352– 3565–1, and the $2,500 application fee) guarantee. The Agency may provide a
1147, Roger Hazuka or Pam Reilly was submitted by the lender within 90 lesser guarantee based upon its
Tennessee State Office, Suite 300, 3322 West days from the date of notification of evaluation of the credit quality of the
End Avenue, Nashville, TN 37203–1084, response selection (unless an extension loan. The Agency liability under any
(615) 783–1375, TDD (615) 783–1397, Don was granted by the State office), will be guarantee will decrease or increase, in
Harris
Texas State Office, Federal Building, Suite
eligible for FY 2007 program dollars and proportion to any increase or decrease
102, 101 South Main, Temple, TX 76501, will compete for available FY 2007 in the amount of the unpaid portion of
(254) 742–9758, TDD (254) 742–9712, funds without having to complete a FY the loan, up to the maximum amount
Gayle Ledyard 2007 response. specified in the Loan Note Guarantee.
Utah State Office, Wallace F. Bennett Federal The maximum guarantee of
General Program Information construction advances will not at any
Building, 125 S. State Street, Room 4311,
Salt Lake City, UT 84147–0350, (801) 524– Program Purpose: The purpose of the time exceed the lesser of 90 percent of
4325, TDD (801) 524–3309, David E. Brown GRRHP is to increase the supply of the amount of principal and interest up
Vermont State Office, City Center, 3rd Floor, affordable rural rental housing, through to default advanced for eligible uses of
89 Main Street, Montpelier, VT 05602, the use of loan guarantees that loan proceeds or 90 percent of the
(802) 828–6021, TDD (802) 223–6365, encourage partnerships between the original principal amount and interest
Robert McDonald
RHS, private lenders, and public up to default of the loan. Penalties
Virgin Islands—Served by Florida State
Office agencies. incurred as a result of default are not
Virginia State Office, Culpeper Building, Responses Must be Submitted by: The covered by the guarantee. The Agency
Suite 238, 1606 Santa Rosa Road, Agency will only accept responses from may provide a lesser guarantee based
Richmond, VA 23229, (804) 287–1596, GRRHP eligible or approved lenders as upon its evaluation of the credit quality
TDD (804) 287–1753, Eileen Nowlin described in 7 CFR 3565.102 and of the loan.
Washington State Office, 1835 Black Lake 3565.103 respectively. Reimbursement of Losses: Any losses
Blvd., Suite B, Olympia, WA 98512, (360) Qualifying Properties: Qualifying will be split on a pro-rata basis between
704–7730, TDD (360) 704–7760, Robert properties include new construction for the lender and the RHS from the first
Lund multi-family housing units, the dollar lost.
Western Pacific Territories—Served by acquisition of existing structures with a Interest Rate: RHS will accept the best
Hawaii State Office
minimum per unit rehabilitation rate negotiated between the lender and
West Virginia State Office, Federal Building,
75 High Street, Room 320, Morgantown, expenditure requirement in accordance prospective borrower. The lender is not
WV 26505–7500 (304) 284–4872, TDD with 7 CFR 3565.252, and the required to provide the interest rate in
(304) 284–4836, Dianne Crysler revitalization, repair and transfer (as the response. When applying for interest
Wisconsin State Office, 4949 Kirschling stipulated in 7 CFR 3560.406) of credit, the lender must provide the basis
Court, Stevens Point, WI 54481, (715) 345– existing direct section 515 housing points over the Long Term Monthly
7615 (ext. 151), TDD (715) 345–7614, Peter (transfer costs are subject to Agency AFR that it will use to calculate the loan
Kohnen approval and must be an eligible use of note’s interest rate. The interest rate
Wyoming State Office, PO Box 11005, loan proceeds as listed in 7 CFR must be fixed over the term of the loan.
Casper, WY 82602, (307) 233–6715, TDD Interest Credit: For at least 20 percent
(307) 233–6733, Alan Brooks
3565.205). Equity payment, as
stipulated 7 CFR 3560.406, in the of the loans made during each fiscal
FOR FURTHER INFORMATION CONTACT: C.B. transfer of existing direct section 515 year, the Agency will provide assistance
Alonso, Senior Loan Specialist, housing, is an eligible use of loan in the form of interest credit, to the
Guaranteed Rural Rental Housing proceeds. In order to be considered, extent necessary to reduce the agreed-
Program, Multi-Family Housing direct section 515 housing projects must upon rate of interest to the Long Term
Processing Division, U.S. Department of need repairs and/or undergo Monthly Applicable Federal Rate (AFR)
Agriculture, South Agriculture Building, revitalization of a minimum of $6,500 as such term is used in section
Room 1271, STOP 0781, 1400 per unit. 42(I)(2)(D) of the Internal Revenue Code
Independence Avenue, SW., Eligible Financing Sources: Any form of 1986, 26 U.S.C. 7805, Sec. 1.42–1T.
Washington, DC 20250–0781. E-mail: of Federal, state, and conventional The interest credit will be paid in
cb.alonso@wdc.usda.gov. Telephone: sources of financing can be used in accordance with HB–1–3565 4.10 D. If
(202) 720–1624. This number is not toll- conjunction with the loan guarantee, 20 percent of the loans have not
free. Hearing or speech-impaired including Home Investment Partnership received interest credit by April 27,
persons may access that number by Program (HOME) grant funds, tax 2007, then RHS will award interest
calling the Federal Information Relay exempt bonds, and low income housing credit to those loans that initially
Service toll-free at (800) 877–8339. tax credits. requested interest credit and have the
Maximum Guarantee: The Agency highest interest credit priority score
ycherry on PROD1PC64 with NOTICES

Eligibility of Prior Year Selected Notice can guarantee the ‘‘permanent’’ portion until at least 20 percent of the loans
of Funding Availability or both the ‘‘construction and have received interest credit. Requests
Responses: FY 2006 NOFA response permanent’’ portions of a construction/ for interest credit must be made in the
selections that did not develop into permanent loan. The Agency cannot, response. Lenders are not permitted to
complete applications within the time however, guarantee only the make requests for interest credit after

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00005 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
8342 Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices

the selection process has taken place. or portion of a year that the guarantee approved the lender will have to have
When interest credit assistance is is in effect. an acceptable level of financial
requested, lenders must state in the (3) There is a non-refundable soundness as determined by a lender
response the maximum basis points application fee of $2,500 when the rating service. The submission of
above the Long Term Monthly AFR that application is submitted. materials demonstrating capacity will be
will be used to calculate the interest (4) There is a flat fee of $500 when a required if the lender’s response is
rate. Priority points will be awarded to lender requests RHS to extend the term selected. Lenders who are otherwise
only to those responses submitting of a guarantee commitment. ineligible may become eligible if they
proposed interest rates equal to or less (5) There is a flat fee of $500 when a maintain a correspondent relationship
than 250 basis points above the Long lender requests RHS to reopen an with an eligible lender that does have
Term Monthly AFR. Any response application when a commitment has the capacity to underwrite, originate,
submitted that exceeds 250 basis points expired. process, close, service, manage, and
above the Long Term Monthly AFR will (6) There is a flat fee of $1,250 when dispose of multi-family housing loans in
receive a deduction of 20 points from its a lender requests RHS to approve the a prudent manner. In this case, the
Priority Score (refer to ‘‘Scoring the transfer of property and assumption of eligible lender must submit the response
Priority Criteria for Selection of the loan to an eligible prospective and application. All contractual and
Projects’’ section of this Notice). A total borrower. legal documentation will be signed
of 30 points will be deducted from the (7) There is no lender application fee between RHS and the lender that
Priority Score of any response submitted for lender approval in FY 2007. submitted the response and application.
that is 300 basis points or more above Eligible Lenders: An eligible lender
GRRHP Lender Approval Application:
the Long Term Monthly AFR. for the section 538 GRRHP as required
Lenders whose responses are selected
Due to limited funding, and in order by 7 CFR 3565.102 must be a licensed
will be notified by the RHS to submit a
to distribute interest credit assistance as business entity or Housing Finance
request for GRRHP lender approval
broadly as possible and minimize Agency (HFA) in good standing in the
application within 30 days of
program costs, the Agency has decided state or states where it conducts
notification. Lenders who request
to limit the interest credit to $1.5 business. Lender eligibility
GRRHP approval must meet the
million per loan. For example, if an requirements are contained in 7 CFR
standards in the 7 CFR 3565.102 and
eligible request were made for interest 3565.102. Below is a list of some of the
103. Lenders that have received GRRHP
credit on a loan of $2.5 million, up to eligible lender criteria under 7 CFR
lender approval in the past and are in
$1.5 million of the loan would receive 3565.102:
good standing do not need to reapply for
interest credit. Interest credit is not (1) Licensed business entity that
GRRHP lender approval.
available for construction loans. Interest meets the qualifications and has the
approval of the Secretary of Housing Submission of Documentation for
credit is only available for permanent GRRHP Lender Approval: All lenders
loans. Lenders with projects that are and Urban Development (HUD) to make
multi-family housing loans that are that have not yet received GRRHP
viable with or without interest credit are
insured under the National Housing lender approval must submit a complete
encouraged to submit a response
Act. A complete list of HUD approved lender application to: Director, Multi-
reflecting financial and market
lenders can be found on the HUD Web Family Housing Processing Division,
feasibility under both funding options.
site at http://www.hud.gov. Rural Housing Service, U.S. Department
Responses requesting consideration
(2) A licensed business entity that of Agriculture, Room 1263, STOP 0781,
under both options will not affect
meets the qualifications and has the 1400 Independence Avenue, SW.,
interest credit selection. Due to limited
approval of the Ginnie Mae or Freddie Washington, DC 20250–0781. Lender
interest credit funds and the
Mac or Fannie Mae corporations to applications must be identified as
responsibility of RHS to target and give
make multi-family housing loans that ‘‘Section 538 Guaranteed Rural Rental
priority to rural areas most in need,
are sold to the same corporations. A Housing Program’’ on the envelope.
responses requesting interest credit
must score a minimum of 55 points complete list of Freddie Mac approved As RHS does not have a formal
under the criteria established in this lenders can be found in Freddie Mac’s application form, a complete
Notice. Web site at http://www.freddiemac.com. application consists of a cover letter
Surcharges for Guarantee of Fannie Mae approved lenders are found requesting GRRHP lender approval and
Construction Advances: There is no at http://www.fanniemae.com. For a list the following documentation:
surcharge for the guarantee of of Ginnie Mae issuers, contact Ginnie (1) Request for GRRHP lender
construction advances for FY 2007. Mae at http://www.ginniemae.gov. approval on the lender’s letterhead;
Program Fees for FY 2007: As a (3) A state or local HFA with a top- (2) Lenders who are HUD, Ginnie
condition of receiving a loan guarantee, tier rating from Moody’s or Standard & Mae, Freddie Mac or Fannie Mae multi-
the Agency will charge the following Poors, or member of the Federal Home family approved lenders are required to
guarantee fees to the lender. Loan Bank system, and the show evidence of this status, such as a
(1) Initial guarantee fee. The Agency demonstrated ability to underwrite, copy of a letter designating the
will charge an initial guarantee fee equal originate, process, close, service, distinction;
to one percent of the guarantee amount. manage, and dispose of multi-family (3) The lender’s Loan Origination,
For purposes of calculating this fee, the housing loans in a prudent manner. Loan Servicing, and Portfolio
guarantee amount is the product of the (4) Be a GRRHP approved lender, Management Handbooks. These
percentage of the guarantee times the defined as an entity with a current handbooks should detail the lender’s
initial principal amount of the executed multi-family housing Lender’s policies and procedures on loan
guaranteed loan. Agreement with RHS. origination through termination for
ycherry on PROD1PC64 with NOTICES

(2) Annual guarantee fee. An annual (5) Lenders that can demonstrate the multi-family loans;
guarantee fee of at least 50 basis points capacity to underwrite, originate, (4) Portfolio performance data;
(one-half percent) of the outstanding process, close, service, manage, and (5) Copies of standard documents that
principal amount of the loan as of dispose of multi-family housing loans in will be used in processing GRRHP
December 31 will be charged each year a prudent manner. In order to be loans;

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00006 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices 8343

(6) Resumes and qualifications of key only the ‘‘construction’’ portion of a associated with their projects. The
personnel that will be involved in the construction/permanent loan. lender will be expected to provide
GRRHP; A lender making a construction loan guidance to the prospective borrower on
(7) Identification of standards and must demonstrate an ability to originate the RHS requirements during the
processes that deviate from those and service construction loans, in application phase. Once the guarantee is
outlined in the GRRHP Origination and addition to meeting the other issued, the lender is expected to service
Servicing Handbook (HB–1–3565) found requirements of 7 CFR Part 3565, each loan it underwrites or contract
at http://www.rurdev.usda.gov/regs/ subpart C. A lender who originates and these services to another capable entity.
hblist.html#hbw6. services construction/permanent loans
(8) A copy of the most recent audited Discussion of Notice Responses
must agree to manage the construction
financial statements; and draw activities in the manner Content of Notice Responses: All
(9) Lender specific information responses require lender information
described in the Chapter 5 of HB–1–
including: (a) Legal name and address, and project specific data. Incomplete
3565. Lenders must meet either the
(b) list of principal officers and their responses will not be considered for
basic or the demonstrated eligibility test
responsibilities, (c) certification that the funding. Lenders will be notified of
in paragraphs 2.4 and 2.5 of HB–1–3565
officers and principals of the lender incomplete responses. Complete
and the lender approval requirements
have not been debarred or suspended responses are to include a signed cover
set forth in paragraph 2.6 of HB–1–3565.
from Federal programs, (d) Form AD letter from the lender on the lender’s
Lenders must clearly identify policies
1047, (e) certification that the lender is letterhead and the following
and processes for multi-family
not in default or delinquent on any information:
Federal debt or loan, or possesses an construction lending. Lenders must also
outstanding finding of deficiency in a provide a summary of their multi-family (1) Lender certification—The lender
federal housing program, and (f) construction lending activity in the must certify that the lender will make a
certification of the lender’s credit rating; same form as specified in paragraph 2.5 loan to the prospective borrower for the
and of HB–1–3565. The Agency may, at its proposed project, under specified terms
(10) Documentation on bonding and discretion, consider other types of and conditions subject to the issuance of
insurance. construction loans—such as those for the GRRHP guarantee. Lender
commercial development—as a certification must be on the lender’s
Additional Construction Lender substitute for multi-family construction letterhead and signed by both the lender
Requirements experience. and the prospective borrower.
The Agency can guarantee the Lender Responsibilities: Lenders will (2) Project specific data—The lender
‘‘permanent’’ portion or both the be responsible for the full range of loan must submit the project specific data
‘‘construction and permanent’’ portions origination, underwriting, management, below on the lender’s letterhead, signed
of a construction/permanent loan. The servicing, compliance issues, and by both the lender and the prospective
Agency will not, however, guarantee property disposition activities borrower.

Lender Name ............................................................................................ Insert the lender’s name.


Lender Tax ID # ....................................................................................... Insert lender’s tax ID #.
Lender Contact Name .............................................................................. Name of the lender contact for loan.
Mailing Address ........................................................................................ Lender’s complete mailing address.
Phone # .................................................................................................... Phone # for lender contact.
Fax # ......................................................................................................... Insert lender’s fax #.
E-mail Address ......................................................................................... Insert lender contact e-mail address.
Borrower Name and Organization Type .................................................. State whether borrower is a Limited Partnership, Corporation, Indian
Tribe, etc.
Tax Classification Type ............................................................................ State whether borrower is for profit, not for profit, etc.
Borrower Tax ID # .................................................................................... Insert borrower’s tax ID #.
Borrower Address, including County ........................................................ Insert borrower’s address and county.
Borrower Phone # .................................................................................... Insert borrower’s phone #.
Principal or Key Member for the Borrower .............................................. Insert name and title.
Borrower Information and Statement of Housing Development Experi- Attach relevant information.
ence.
New Construction, Acquisition With Rehabilitation, or the Revitalization, State whether the project is new construction or acquisition with reha-
Repair, and Transfer (as stipulated in 7 CFR 3560.406) of Existing bilitation. Transfer costs, including equity payments, are subject to
Direct Section 515 Housing. Agency approval and must be an eligible use of loan proceeds listed
in 7 CFR 3565.205.
Project Location Town or City .................................................................. Town or city in which the project is located.
Project County .......................................................................................... County in which the project is located.
Project State ............................................................................................. State in which the project is located.
Project Zip Code ....................................................................................... Insert zip code.
Project Congressional District .................................................................. Congressional District for project location.
Project Name ............................................................................................ Insert project name.
Project Type ............................................................................................. Family, senior (all residents 55 years or older), or mixed.
Property Description and Proposed Development Schedule ................... Provide as an attachment.
Total Project Development Cost .............................................................. Enter amount for total project.
# of Units .................................................................................................. Insert the # of units in the project.
Ratio of 3–5 bedroom units to total units ................................................. Insert percentage of 3–5 bedroom units to total units.
ycherry on PROD1PC64 with NOTICES

Cost Per Unit ............................................................................................ Total development cost divided by # of units.


Rent .......................................................................................................... Proposed rent structure.
Median Income for Community ................................................................ Provide median income for the community.
Evidence of Site Control ........................................................................... Attach relevant information.
Description of Any Environmental Issues ................................................ Attach relevant information.
Loan Amount ............................................................................................ Insert the loan amount.

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00007 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
8344 Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices

Interest Credit (IC) .................................................................................... Is interest credit requested for this loan? (Yes or No).
Basis Points over the Long Term Monthly Applicable Federal Rate ....... Lenders seeking interest credit must provide the maximum basis points
above the Long Term Monthly AFR that will be used to calculate the
interest rate. Priority points will only be given for basis points equal
to or less than 250 above the Long Term Monthly AFR.
If Above Is Yes, Should Proposal Be Considered Under Non-Interest If Yes, proposal must show financial feasibility for Non-IC consider-
Credit Selection If Scoring Does Not Meet The Minimum Point ation.
Threshold of 55 Points for an Interest Credit Award?
Borrower’s Proposed Equity ..................................................................... Insert amount.
Tax Credits ............................................................................................... Have tax credits been awarded?
If tax credits were awarded, submit a copy of the award notice/evi-
dence of award with your response.
If not, When do you anticipate an award will be made (announced)?
What is the [estimated] value of the tax credits?
Other Sources of Funds ........................................................................... List all funding sources other than tax credits and amounts for each
source.
Loan to Total Development Cost ............................................................. Guaranteed loan divided by the total development costs of project.
Debt Coverage Ratio ................................................................................ Net Operating Income divided by debt service payments.
Percentage of Guarantee ......................................................................... Percentage guarantee requested.
Collateral ................................................................................................... Attach relevant information.
Empowerment Zone (EZ) or Enterprise Community (EC), Colonia, Trib- Yes or No. Is the project in a recognized EZ or EC, Colonia, on an In-
al Lands, or State’s Consolidated Plan or State Needs Assessment. dian Reservation, or in a place identified in the State’s Consolidated
Plan or State Needs Assessment as a high need community for
multi-family housing.
Population ................................................................................................. Provide the population of the county, city, or town where the project is
or will be located.
Is a Guarantee for Construction Being Requested? ................................ State yes or no. The Agency can guarantee the ‘‘permanent’’ portion or
both the ‘‘construction and permanent’’ portions of a construction/
permanent loan. The Agency will not, however, guarantee only the
‘‘construction’’ portion of a construction/permanent loan.
Loan Term ................................................................................................ Minimum 25-year term .
Maximum 40-year term (includes construction period).
May amortize up to 40 years.
Balloon mortgages permitted after the 25th year.

Scoring of Priority Criteria for using the procedure outlined in the Median income Points
Selection of Projects: All 2007 responses DATES section of this Notice. (dollars)
will be scored based on the criteria set Subject to available funding, all
forth below to establish their priority for projects scoring 55 points or more on 45,000–less than 55,000 .............. 10
obligation of funds. Per 7 CFR 3565.5 the seven priority criteria and that 55,000–less than 65,000 .............. 5
request and demonstrate a need for an 65,000 or more ............................. 0
(b), priority will be given to projects: in
smaller rural communities, in the most interest credit subsidy, will receive
Priority 3—Projects that demonstrate
needy communities having the highest interest credit awards.
The seven priority criteria for projects partnering and leveraging in order to
percentage of leveraging, having the develop the maximum number of units
lowest interest rate, having the highest are listed below.
Priority 1—Projects located in eligible and promote partnerships with state and
ratio of 3–5 bedroom units to total units, local communities will also receive
or located in Empowerment Zones/ rural communities with the lowest
populations will receive the highest points. Points will be awarded as
Enterprise Communities or on tribal follows:
lands. In addition, the Agency may, at points.
its sole discretion, set aside assistance Loan to total development cost
for or rank projects that meet important Population size Points
ratio Points
program goals. Additional points will be (percentage)
0–5,000 people ............................. 15
awarded to responses for the 5,001–10,000 people .................... 10
revitalization, repair, and transfers of 90–100 .......................................... 0
10,001–15,000 people .................. 5 Less than 90–70 ........................... 15
existing direct Section 515 housing. 15,001–20,000 people .................. 0
Less than 70–50 ........................... 20
Prior to April 27, 2007, projects with Less than 50 ................................. 30
an overall score of 25 points or more Priority 2—The most needy
and a loan to development cost ratio communities as determined by the Priority 4—The development of
less than 70 percent will be processed median income from the most recent projects on Tribal Lands, or in an
and, when ready, obligated on a first- census data will receive points. The Empowerment Zone or Enterprise
come-first-serve basis, provided funds RHS will allocate points to projects Community will receive points. The
are available. Projects that score less located in communities having the RHS will attribute 20 points to projects
than 25 points, and projects that score lowest median income. Points for that are developed in any of the
25 points or more and do not have a median income will be awarded as locations described in this priority. The
loan to development cost ratio less than follows: development of projects in a Colonia or
ycherry on PROD1PC64 with NOTICES

70 percent, may be processed up to the in a place identified in the State’s


Median income
point of obligation, but they will not be (dollars) Points Consolidated Plan or State Needs
obligated until after April 27, 2007. Assessment as a high need community
After April 27, 2007, the Agency will Less than 35,000 .......................... 20 for multi-family housing will receive
select the highest scoring proposals 35,000–less than 45,000 .............. 15 points. The RHS will attribute 20 points

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00008 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices 8345

to projects that are developed in any of requested information concerning the (3) The Proposed Borrower
the locations described in this priority. project, to establish the purpose of the (a) The name of the borrower and the
Priority 5—The RHS will award proposed project, its location, and how type of ownership entity. List the
points to projects with the highest ratio it meets the established priorities for general partners if a limited partnership,
of 3–5 bedroom units to total units as funding. The Agency will determine the officers if a corporation or members of
follows: highest ranked responses based on a Limited Liability Corporation.
priority criteria and a threshold score. (b) Borrower’s contact name, mailing
Ratio of 3–5 bedroom units to Notice responses will at least include
Points address, phone and fax numbers, and e-
total units the following [but the Agency, at its sole
mail address.
discretion, may request additional
More than 50% ............................. 6 (c) Certification that the borrower or
21%–50% ..................................... 5 information]: principals of the ownership are not
Less than 21%–more than 0% ..... 1 (1) The Project barred from participating in Federal
(a) A brief description of the proposed housing programs and are not
Priority 6—RHS will award points for delinquent on any Federal debt.
basis points above the long term location of the project, including town,
county, state, and congressional district. (d) Borrower’s unaudited or audited
monthly AFR used to calculate the financial statements.
interest rate. The score for basis points (b) A description of the property and
improvements, including lot size, (e) Statement of borrower’s housing
is as follows: development experience.
number of units, building type, type of
Basis points Points construction, etc., including preliminary (4) Lender Eligibility and Approval
drawings, if available. Status
300 or more .................................. ¥30 (c) The proposed development
251 to 299 .................................... ¥20 schedule. Evidence that the lender is either an
200 to 250 .................................... 10 (d) Total project development cost. approved lender for the purposes of the
100 to 199 .................................... 15 (e) The proposed rent structure and GRRHP or that the lender is eligible to
0 to 99 .......................................... 20 area median income (HUD published apply for approved lender status. The
area median incomes can be found lender’s application for approved lender
Priority 7—Notice responses for the online at http://www.huduser.org). status can be submitted with the
revitalization, repair, and transfer (as (f) Evidence of site control by the response but must be submitted to the
stipulated in 7 CFR 3560.406) of proposed borrower or a purchase National Office within 45 calendar days
existing direct section 515 housing option. of the lender’s receipt of the ‘‘notice to
(transfer costs, including equity (g) Description of any environmental proceed with application processing’’
payments, are subject to Agency issues that may affect the project. letter.
approval and must be an eligible use of (h) Amount of loan to be guaranteed.
loan proceeds listed in 7 CFR 3565.205) (5) Competitive Criteria
(i) Type of project (e.g. elderly or
will receive an additional 20 points. family). Information that shows how the
Notifications: Responses will be proposal is responsive to the selection
reviewed for completeness and (2) The Proposed Financing criteria specified in the Notice.
eligibility. The RHS will notify those (a) Proposed loan amount and the
lenders whose responses are selected (6) Lender Certification
proposed borrower’s equity.
via letter. The RHS will request lenders (b) Proposed use of interest credit—If A commitment letter signed by the
without GRRHP lender approval to the lender proposes to use interest lender, on the lender’s letterhead,
apply for GRRHP lender approval credit, this section should include the indicating that the lender will make a
within 30 days upon receipt of maximum basis points the lender will loan to the borrower for the proposed
notification of selection. For charge the borrower for the project. The project, under specified terms and
information regarding GRRHP lender interest rate may not be lower than the conditions subject only to the issuance
approval, please refer to the section published Long Term Monthly AFR at of a guarantee by the Agency.
entitled ‘‘Submission Of Documentation the closing of the lender’s loan. The deadline for the submission of a
For GRRHP Lender Approval’’ in this Selection and scoring criteria that the complete application and application
Notice. project must meet to receive interest fee is 90 days from the date of
Lenders will also be invited to submit credit will be published in the Notice. notification of response selection. If the
a complete application and the required (c) Estimated development budget application and fee are not received by
application fee of $2,500 to the Rural (total and cost/unit) and the proposed the appropriate State Office within 90
Development State Office where the sources and uses of funds. This days from the date of notification, the
project is located. information should include all proposed selection is subject to cancellation,
Submission of GRRHP Applications: financing sources—the amount, type, thereby allowing another response that
Notification letters will instruct lenders rates and terms of loans, tax credits, or is ready to proceed with processing to
to contact the Rural Development State grant funds. Letters of application and be selected. The State Office has the
Office immediately following commitment letters should be included, ability to extend this 90-day deadline
notification of selection to schedule if available. for receipt of an application only for
required agency reviews. (d) Estimated loan-to-development good cause.
Rural Development State Office staff cost ratio for the guaranteed loan. Obligation of Program Funds: The
will work with lenders in the (e) Proposed Agency guarantee RHS will only obligate funds to projects
development of an application package. percentage for guaranteed loan (under that meet the requirements for
ycherry on PROD1PC64 with NOTICES

In response to the Notice, lenders must no condition can the percentage exceed obligation, including having undergone
submit a response to the office address 90 percent of the loan amount). a satisfactory environmental review in
identified in the Notice for the scoring (f) Collateral—all security, in addition accordance with the National
and ranking of a proposed GRRHP to the real property, proposed to secure Environmental Protection Act (NEPA)
project. The lender must provide the the loan. and having submitted the $2,500

VerDate Aug<31>2005 16:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00009 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1
8346 Federal Register / Vol. 72, No. 37 / Monday, February 26, 2007 / Notices

application fee and completed Form RD review, and the completion of any ACTION: Notice and Opportunity for
3565–1 for the selected project. conditional requirements. Public Comment.
Conditional Commitment: Once Dated: February 16, 2007.
required documents for obligation and Russell T. Davis, Pursuant to Section 251 of the Trade
the application fee are received and all Act of 1974 (19 U.S.C. 2341 et seq.), the
Administrator, Rural Housing Service.
NEPA requirements have been met, the Economic Development Administration
[FR Doc. E7–3172 Filed 2–23–07; 8:45 am]
Rural Development State Office will (EDA) has received petitions for
BILLING CODE 3410–XV–P
issue a conditional commitment, which certification of eligibility to apply for
stipulates the conditions that must be Trade Adjustment Assistance from the
fulfilled before the issuance of a
DEPARTMENT OF COMMERCE firms listed below. EDA has initiated
guarantee, in accordance with 7 CFR
separate investigations to determine
3565.303.
Economic Development Administration whether increased imports into the
Issuance Of Guarantee: The RHS State
Office will issue a guarantee to the United States of articles like or directly
Notice of Petitions by Firms for competitive with those produced by
lender for a project in accordance with
Determination of Eligibility To Apply each firm contributed importantly to the
7 CFR 3565.303. No guarantee can be
for Trade Adjustment Assistance total or partial separation of the firm’s
issued without a complete application,
review of appropriate certifications, AGENCY:Economic Development workers, or threat thereof, and to a
satisfactory assessment of the Administration, Department of decrease in sales or production of each
appropriate level of environmental Commerce. petitioning firm.

LIST OF PETITIONS RECEIVED BY EDA FOR CERTIFICATION OF ELIGIBILITY TO APPLY FOR TRADE ADJUSTMENT
ASSISTANCE FOR THE PERIOD
[January 21, 2007 through February 20, 2007]

Date
Firm Address petition Product
accepted

Prosco, Inc. DBA Ideal Prod- 227 East Main Street, 1/23/2007 Hunting and fishing apparel.
ucts. Sykesville, PA 15865.
Industrial Molded Rubber Prod- 20015 176th St., Big Lake, MN 1/23/2007 Custom molded products such as seals, coatings, belts, gas-
ucts Inc. DBA Northern Prai- 55309. kets, packings and hoses.
rie Polymers, LLC.
Tommila Brothers, Inc .............. 497 Route 12N P.O. Box 188, 1/24/2007 High quality lumber for flooring, molding, and architectural
Troy, NH 03465. millwork for a variety of industries.
St. Marys Carbon Company ..... 259 Eberl Street, St. Marys, 1/24/2007 Carbon and metal powder products.
PA 15857.
Automated Production Assem- 33957 Doreka, Fraser, MI 1/29/2007 Metal automotive components.
blies, Inc. 48026.
Spring Health Products, Inc ...... 705 General Washington Ave. 1/31/2007 Dental equipment.
Ste 701, Norristown, PA
19403.
Broncorp Manufacturing, Inc .... 5957 Broadway, Denver, CO 1/31/2007 Packing containers and cutlery.
80216.
Econocorp, Inc .......................... 72 Pacella Park Drive, Ran- 1/30/2007 Packaging machinery.
dolph, MA 02368.
Alston Tascomb, Inc ................. 13512 Vintage Pl., Chino, CA 1/31/2007 Contract center solutions and telephone answering systems.
91710.
Disposable Instrument Com- 14248 Santa Fe Trail Dr., 1/30/2007 Standard wound drainage trocars and OEM trocars.
pany, Inc. Shawnee Mission, KS
66215–1238.
Narrow Fabric Industries Cor- 701 Reading Ave., Reading, 2/16/2007 Narrow elastic and lace products.
poration. PA 19611.
ycherry on PROD1PC64 with NOTICES

VerDate Aug<31>2005 20:03 Feb 23, 2007 Jkt 211001 PO 00000 Frm 00010 Fmt 4703 Sfmt 4703 E:\FR\FM\26FEN1.SGM 26FEN1

S-ar putea să vă placă și