8896 Federal Register / Vol. 75, No. 38 / Friday, February 26, 2010 / Notices 

and completion of the environmental 

review requirements as prescribed in 

RUS’s Environmental Policies and 

Procedures, 7 CFR part 1794, as 

amended. 

Dated: February 19, 2010. 

Nivin A. Elgohary, 

Acting Assistant Administrator, Electric 

Programs, Rural Utilities Service. 

[FR Doc. 2010–3986 Filed 2–25–10; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF AGRICULTURE 

Rural Housing Service 

Notice of Funding Availability (NOFA) 

for Loan Guarantees Under Section 

538 Guaranteed Rural Rental Housing 

Program (GRRHP) for Fiscal Year 2010 

AGENCY: Rural Housing Service, USDA. 

ACTION: NOFA. 

SUMMARY: This is a request for proposals 

for loan guarantees under the section 

538 Guaranteed Rural Rental Housing 

Program (GRRHP) pursuant to 7 CFR 

3565.4 for Fiscal Year (FY) 2010. FY 

2010 funding for the section 538 

program is $129,130,434.78. Applicants 

will submit proposals in the form of 

‘‘responses.’’ Responses to this NOFA 

will be accepted until December 31, 

2010, 12 p.m. Eastern Time. The 

commitment of program dollars will be 

made to applicants of selected responses 

that have fulfilled the necessary 

requirements for obligation. Expenses 

incurred in developing applications will 

be at the applicant’s risk. The following 

paragraphs outline the timeframes, 

eligibility requirements, lender 

responsibilities, and the overall 

response and application processes. 

The GRRHP operates under 7 CFR 

part 3565. The GRRHP Origination and 

Servicing Handbook (HB–1–3565) is 

available to provide lenders and the 

general public with guidance on 

program administration. HB–1–3565, 

which contains a copy of 7 CFR part 

3565 in Appendix 1, can be found at: 

http://www.rurdev.usda.gov/regs/ 

hblist.html#hbw6. 

Eligible lenders are invited to submit 

responses for the new construction and 

the acquisition with rehabilitation of 

affordable rural rental housing. 

Also eligible for guarantees is the 

revitalization, repair, and transfer (as 

stipulated in 7 CFR 3560.406) of 

existing direct section 515 housing 

(transfer costs are subject to Agency 

approval and must be an eligible use of 

loan proceeds as listed in 7 CFR 

3565.205), and properties involved in 

the Agency’s multi-family preservation 

and revitalization (MPR) program. 

Equity payments, as stipulated in 7 CFR 

3560.406, in connection with the 

transfer of existing direct section 515 

housing, are an eligible use of 

guaranteed loan proceeds. In order to be 

considered, for a transfer, the direct 

section 515 housing and MPR projects 

must need repairs and undergo 

revitalization of a minimum of $6,500 

per unit. 

The Agency will review responses 

submitted by eligible lenders, on the 

lender’s letterhead, and signed by both 

the prospective borrower and lender. 

Although a complete application is not 

required in response to this NOFA, 

eligible lenders may submit a complete 

application concurrently with the 

response. Submitting a complete 

application will not have any effect on 

the respondent’s NOFA response score. 

DATES: Eligible responses to this NOFA 

will be accepted per this guidance until 

December 31, 2010, 12 p.m. Eastern 

Time. 

Selected responses that develop into 

complete applications and meet all 

Federal environmental requirements 

will receive commitments until all 

funds are expended. A notice will be 

placed in the Federal Register if all FY 

2010 funds are committed prior to 

September 30, 2010. Responses to this 

NOFA that are received after September 

30, 2010, and deemed eligible for 

further processing will be funded to the 

extent an appropriation act provides 

funding for GRRHP for FY 2011. 

The Agency will select the responses 

that meet eligibility criteria and invite 

lenders to submit complete applications 

to the Agency. Those responses that are 

selected that subsequently submit 

complete applications that meet all 

program requirements and are received 

prior to or on April 1, 2010, but score 

less than 25 points, or score 25 points 

or more, but have a development cost 

ratio equal to or greater than 70 percent, 

may be selected for obligation after 

April 1, 2010, with the highest scoring 

responses receiving priority subject to 

availability of funds. After April 1, 

2010, responses that develop into 

complete applications that meet all 

program requirements will be selected 

for further processing regardless of 

score, subject to the availability of 

funding. 

The USDA Rural Development will 

prioritize the obligation requests 

received after April 1, 2010, using the 

highest score and the procedures 

outlined as follows. Once a complete 

application is received and approved, 

the Agency will obligate funds. 

Obligation requests submitted will be 

accumulated, but not obligated 

throughout the week until midnight 

Eastern Time every Thursday. To the 

extent that funds remain available, the 

Agency will obligate the requests 

accumulated through the weekly request 

deadline of the previous week by the 

following Tuesday (i.e., requests 

received from Friday, May 14, 2010, to 

Thursday, May 20, 2010, will be 

obligated by Tuesday, May 25, 2010). 

However, requests received prior to 

April 1, 2010, that are not eligible for 

obligation until after April 1, 2010, will 

be obligated no earlier than Tuesday, 

April 6, 2010. Funds will be obligated 

in scoring order, with the highest 

scoring requests being obligated first, 

until all funds are exhausted. In the 

event of a tie, priority will be given to 

the request for the project that: 1st—has 

the highest percentage of leveraging 

(lowest Loan to Cost) and in the event 

there is still a tie;—is in the smaller 

rural community. 

Eligible lenders mailing a response or 

application must provide sufficient time 

to permit delivery to the submission 

address on or before the closing 

deadline date and time. Acceptance by 

a U.S. Post Office or private mailer does 

not constitute delivery. Postage due 

responses and applications will not be 

accepted. 

Submission Address: Eligible lenders 

will send responses to the contact 

person in the State Office where the 

project will be located. 

USDA Rural Development State 

Offices, their addresses, telephone 

numbers, and person to contact follows: 

[this information may also be found at 

http://www.rurdev.usda.gov/ 

recd_map.html] 

Note: Telephone numbers listed are not 

toll-free. 

Alabama State Office, 4121 Carmichael Road, 

Suite 601, Sterling Centre, Montgomery, 

AL 36106–3683, (334) 279–3440, TDD 

(334) 279–3495, Anne Chavers. 

Alaska State Office, 800 West Evergreen, 

Suite 201, Palmer, AK 99645, (907) 761– 

7740, TDD (907) 761–8905, Deborah Davis. 

Arizona State Office, 230 North First Ave., 

Suite 206, Phoenix, AZ 85003–1706, (602) 

280–8768, TDD (602) 280–8706, Carol O. 

Torres. 

Arkansas State Office, 700 W. Capitol Ave., 

Room 3416, Little Rock, AR 72201–3225, 

(501) 301–3250, TDD (501) 301–3279, 

Gregory Kemper. 

California State Office, 430 G Street, #4169, 

Davis, CA 95616–4169, (530) 792–5813, 

TDD (530) 792–5848, Edgar Morales. 

Colorado State Office, 655 Parfet Street, 

Room E100, Lakewood, CO 80215, (720) 

544–2923, TDD (800) 659–2656, Mary 

Summerfield. 

Connecticut, Served by Massachusetts State 

Office. 


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Delaware and Maryland State Office, 1221 

College Park Drive, Suite 200, Dover, DE 

19904, (302) 857–3615, TDD (302) 857– 

3585, Debra Eason. 

Florida & Virgin Islands State Office, 4440 

N.W. 25th Terrace, P.O. Box 147010, 

Gainesville, FL 32614–7010, (352) 338– 

3400, TDD (352) 338–3499, Tresca 

Clemmons. 

Georgia State Office, Stephens Federal 

Building, 355 E. Hancock Avenue—Stop 

307, Athens, GA 30601–2768, (706) 546– 

2164, TDD (706) 546–2034, Wayne Rogers. 

Hawaii State Office, (Services all Hawaii, 

American Samoa Guam, and Western 

Pacific), Room 311, Federal Building, 154 

Waianuenue Avenue, Hilo, HI 96720, (808) 

933–8300, TDD (808) 933–8321, Nate 

Riedel. 

Idaho State Office, 9173 West Barnes Dr., 

Suite A1, Boise, ID 83709, (208) 378–5630, 

TDD (208) 378–5644, Roni Atkins. 

Illinois State Office, 2118 West Park Court, 

Suite A, Champaign, IL 61821–2986, (217) 

403–6222, TDD (217) 403–6240, Barry L. 

Ramsey. 

Indiana State Office, 5975 Lakeside 

Boulevard, Indianapolis, IN 46278–1966, 

(317) 290–3100 (ext. 413), Carla Orr 

Haskins. 

Iowa State Office, 210 Walnut Street Room 

873, Des Moines, IA 50273, (515) 284– 

4666, TDD (515) 284–4858, Heather 

Honkomp. 

Kansas State Office, 1303 SW First American 

Place, Suite 100, Topeka, KS 66604–4040, 

(785) 271–2718, TDD (785) 271–2767, Tim 

Rogers. 

Kentucky State Office, 771 Corporate Drive, 

Suite 200, Lexington, KY 40503, (859) 224– 

7300, TDD (859) 224–7422, Paul Higgins. 

Louisiana State Office, 3727 Government 

Street, Alexandria, LA 71302, (318) 473– 

7962, TDD (318) 473–7655, Yvonne R. 

Emerson. 

Maine State Office, 967 Illinois Ave., Suite 4, 

P.O. Box 405, Bangor, ME 04402–0405, 

(207) 990–9110, TDD (207) 942–7331, 

Robert Nadeau. 

Maryland, Served by Delaware State Office. 

Massachusetts, Connecticut, & Rhode Island 

State Office, 451 West Street—Suite 2, 

Amherst, MA 01002, (413) 253–4315, TDD 

(413) 253–4590, Paul D. Geoffroy. 

Michigan State Office, 3001 Coolidge Road, 

Suite 200, East Lansing, MI 48823, (517) 

324–5199, TDD (517) 324–5169, Julie 

Putnam. 

Minnesota State Office, 375 Jackson Street, 

Suite 410, St. Paul, MN 55101–1853, (651) 

602–7804, TDD (651) 602–7830, Tom 

Osborne. 

Mississippi State Office, Federal Building, 

Suite 831, 100 W. Capitol Street, Jackson, 

MS 39269, (601) 965–4326, TDD (601) 965– 

5717, Darnella Smith-Murray. 

Missouri State Office, 601 Business Loop 70 

West, Parkade Center, Suite 235, Columbia, 

MO 65203, (573) 876–0987, TDD (573) 

876–9480, Rachelle Long. 

Montana State Office, 900 Technology Blvd. 

Suite B, Bozeman, MT 59718, (406) 585– 

2530, TDD (406) 585–2562, Deborah 

Chorlton. 

Nebraska State Office, Federal Building, 

Room 152, 100 Centennial Mall N, Lincoln, 

NE 68508, (402) 437–5734, TDD (402) 437– 

5093, Linda Anders. 

Nevada State Office, 1390 South Curry Street, 

Carson City, NV 89703–9910, (775) 887– 

1222 (ext. 13), TDD (775) 885–0633, 

William Brewer. 

New Hampshire State Office, 10 Ferry Street, 

Concord, NH 03301–5004, Suite 218, Box 

317, (603) 223–6050, TDD (802) 828–6365, 

Robert McCarthy. 

New Jersey State Office, 8000 Midlantic Dr., 

5th Floor North Suite 500, Mt. Laurel, NJ 

08054, (856) 787–7740, TDD (856) 787– 

7730, George Hyatt, Jr. 

New Mexico State Office, 6200 Jefferson St., 

NE., Room 255, Albuquerque, NM 87109, 

(505) 761–4950, TDD (505) 761–4938, Art 

Garcia. 

New York State Office, The Galleries of 

Syracuse, 441 S. Salina Street, Suite 357, 

Syracuse, NY 13202–2425, (585) 394–0525 

ext. 109, TDD (315) 477–6447, Celeste 

Frohm. 

North Carolina State Office, 4405 Bland 

Road, Suite 260, Raleigh, NC 27609, (919) 

873–2063, TDD 711 (state relay system), 

William Hobbs. 

North Dakota State Office, Federal Building, 

Room 208, 220 East Rosser, P.O. Box 1737, 

Bismarck, ND 58502, (701) 530–2050, TDD 

(701) 530–2090, Mark J. Wax. 

Ohio State Office, Federal Building, Room 

507, 200 North High Street, Columbus, OH 

43215–2477, (614) 255–2418, TDD (800) 

877–8339, Melodie Taylor-Ward. 

Oklahoma State Office, 100 USDA, Suite 108, 

Stillwater, OK 74074–2654, (405) 742– 

1070, TDD (405) 742–1007, Ivan S. Graves. 

Oregon State Office, 1201 NE. Lloyd Blvd., 

Suite 801, Portland, OR 97232–1274, (503) 

414–3353, TDD (503) 414–3387, Rod 

Hansen. 

Pennsylvania State Office, One Credit Union 

Place, Suite 330, Harrisburg, PA 17110– 

2996, (717) 237–2279, TDD 711 (state relay 

system), Frank Wetherhold. 

Puerto Rico State Office, 654 Munoz Rivera 

Avenue, Suite 601, Hato Rey, PR 00918, 

(787) 766–5095, TDD (787) 766–5332, 

Noemi Morant. 

Rhode Island, Served by Massachusetts State 

Office. 

South Carolina State Office, Strom 

Thurmond Federal Building, 1835 

Assembly Street, Room 1007, Columbia, SC 

29201, (803) 253–3432, TDD (803) 765– 

5697, Larry D. Floyd. 

South Dakota State Office, Federal Building, 

Room 210, 200 Fourth Street, SW., Huron, 

SD 57350, (605) 352–1132, TDD (605) 352– 

1147, Roger Hazuka or Pam Reilly. 

Tennessee State Office, 3322 West End 

Avenue, Suite 300, Nashville, TN 37203, 

(615) 783–1300, TDD (615) 783–1397, 

Kathy G. Connelly. 

Texas State Office, Federal Building, Suite 

102, 101 South Main, Temple, TX 76501, 

(254) 742–9770, TDD (254) 742–9712, 

Joyce McGlothlin. 

Utah State Office, Wallace F. Bennett Federal 

Building, 125 S. State Street, Room 4311, 

Salt Lake City, UT 84138, (801) 524–4302, 

TDD (801) 524–3309, Shelly Prothero. 

Vermont State Office, City Center, 3rd Floor, 

89 Main Street, Montpelier, VT 05602, 

(802) 828–6067, TDD (802) 223–6365, 

Kenneth Yearman. 

Virgin Islands, Served by Florida State 

Office. 

Virginia State Office, 1606 Santa Rosa Road, 

Suite 238, Richmond, VA 23229, (804) 

287–1596, TDD (804) 287–1753, C.J. 

Michels. 

Washington State Office, 1835 Black Lake 

Blvd. SW., Suite B, Olympia, WA 98512, 

(360) 704–7740, TDD (360) 704–7772, 

Tammy Repine. 

Western Pacific Territories, Served by Hawaii 

State Office. 

West Virginia State Office, Federal Building, 

1550 Earl Core Road, Suite 101, 

Morgantown, WV 26505, (304) 284–4872, 

TDD (304) 284–4836, David L. Cain. 

Wisconsin State Office, 4949 Kirschling 

Court, Stevens Point, WI 54481, (715) 345– 

7600, TDD (715) 345–7614, Dave Schwobe. 

Wyoming State Office, P.O. Box 11005, 

Casper, WY 82602, (307) 856–7524 ext. 

124, TDD (307) 233–6733, Yvette Wilson. 

FOR FURTHER INFORMATION CONTACT: 

Monica Cole, Financial and Loan 

Analyst, USDA Rural Development 

Guaranteed Rural Rental Housing 

Program, Multi-Family Housing 

Guaranteed Loan Division, U.S. 

Department of Agriculture, South 

Agriculture Building, Room 1263, STOP 

0781, 1400 Independence Avenue, SW., 

Washington, DC 20250–0781. E-mail: 

monica.cole@wdc.usda.gov. Telephone: 

(202) 720–1251. This number is not tollfree. Hearing or speech-impaired 

persons may access that number by 

calling the Federal Information Relay 

Service toll-free at (800) 877–8339. 

Eligibility of Prior Year Selected Notice 

of Funding Availability 

Responses: FY 2009 NOFA response 

selections that did not develop into 

complete applications within the time 

constraints stipulated by the 

corresponding State Office have been 

cancelled. A new response for the 

project may be submitted subject to the 

conditions of this NOFA. 

FY 2009 NOFA responses that were 

selected by the Agency, with a complete 

application (including all Federal 

environmental documents required by 7 

CFR part 1940, subpart G, a Form RD 

3565–1 ‘‘Application for Loan and 

Guarantee’’) submitted by the lender 

within 90 days from the date of 

notification of response selection 

(unless an extension was granted by the 

Agency), will be eligible for FY 2010 

program dollars and will compete for 

available FY 2010 funds without having 

to complete a FY 2010 response. 

General Program Information 

Program Purpose: The purpose of the 

GRRHP is to increase the supply of 

affordable rural rental housing through 

the use of loan guarantees that 

encourage partnerships between the 


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Agency, private lenders, and public 

agencies. 

Responses Must Be Submitted By: The 

Agency will only accept responses from 

GRRHP eligible or approved lenders as 

described in 7 CFR 3565.102 and 

3565.103 respectively. 

Qualifying Properties: Qualifying 

properties include new construction for 

multi-family housing units and the 

acquisition of existing structures with a 

minimum per unit rehabilitation 

expenditure requirement in accordance 

with 7 CFR 3565.252. 

Also eligible is the revitalization, 

repair and transfer (as stipulated in 7 

CFR 3560.406) of existing direct section 

515 housing (transfer costs are subject to 

Agency approval and must be an 

eligible use of loan proceeds as listed in 

7 CFR 3565.205) and properties 

involved in the Agency’s MPR program. 

Equity payment, as stipulated 7 CFR 

3560.406, in the transfer of existing 

direct section 515 housing, is an eligible 

use of guaranteed loan proceeds. In 

order to be considered, the transfer of 

direct section 515 housing and MPR 

projects must need repairs and undergo 

revitalization of a minimum of $6,500 

per unit. 

Eligible Financing Sources: Any form 

of Federal, State, and conventional 

sources of financing can be used in 

conjunction with the loan guarantee, 

including Home Investment Partnership 

Program (HOME) grant funds, tax 

exempt bonds, and low income housing 

tax credits. 

Maximum Guarantee: The Agency 

can guarantee the ‘‘permanent’’ loan. 

The Agency can only guarantee 

construction advances for the 

construction of the property if a 

guarantee for the permanent loan is 

requested for the same property. The 

Agency cannot, however, guarantee only 

the ‘‘construction’’ advances for the 

construction of a property. 

The maximum guarantee for a 

permanent loan will be 90 percent of the 

unpaid principal and interest up to 

default and accrued interest 90 calendar 

days from the date the liquidation plan 

is approved by the Agency, as defined 

in 7 CFR 3565.452. Penalties incurred as 

a result of default are not covered by the 

guarantee. The Agency may provide a 

lesser guarantee based upon its 

evaluation of the credit quality of the 

loan. The Agency’s liability under any 

guarantee will decrease or increase, in 

proportion to any decrease or increase 

in the amount of the unpaid portion of 

the loan, up to the maximum amount 

specified in the Loan Note Guarantee. 

The maximum guarantee of construction 

advances will not at any time exceed the 

lesser of 90 percent of the amount of 

principal and interest up to default 

advanced for eligible uses of loan 

proceeds or 90 percent of the original 

principal amount and interest up to 

default of the loan. Penalties incurred as 

a result of default are not covered by the 

guarantee. The Agency may provide a 

lesser guarantee based upon its 

evaluation of the credit quality of the 

loan. 

Energy Conservation: USDA Rural 

Development has adopted a policy that 

all new multi-family housing projects 

financed in whole or in part by the 

USDA, will be encouraged to engage in 

sustainable building development that 

emphasizes energy-efficiency and 

conservation. In order to assist in the 

achievement of this goal, any GRRHP 

project that participates in one or all of 

the following programs may receive a 

maximum of twenty (20) additional 

points added to their project score. 

Participation in these nationwide 

initiatives is voluntary, but strongly 

encouraged. 

Reimbursement of Losses: Any losses 

will be split on a pro-rata basis between 

the lender and the Agency from the first 

dollar lost. 

Interest Credit: The FY 2010 

appropriation act does not permit 

interest credit. 

Surcharges for Guarantee of 

Construction Advances: There is no 

surcharge for the guarantee of 

construction advances for FY 2010. 

Program Fees for FY 2010: As a 

condition of receiving a loan guarantee, 

the Agency will charge the following 

fees to the lender. 

(1) There is no application fee for 

lenders submitting an application in FY 

2010. 

(2) There is a flat fee of $500 when a 

lender requests USDA Rural 

Development to extend the term of a 

guarantee commitment. 

(3) There is a flat fee of $500 when a 

lender requests USDA Rural 

Development to reopen an application 

when a commitment has expired. 

(4) There is a flat fee of $1,250 when 

a lender requests USDA Rural 

Development to approve the transfer of 

property and assumption of the loan to 

an eligible prospective borrower. 

(5) There is no lender application fee 

for lender approval in FY 2010. 

Eligible Lenders: An eligible lender 

for the section 538 GRRHP as required 

by 7 CFR 3565.102 must be a licensed 

business entity or Housing Finance 

Agency (HFA) in good standing in the 

state or states where it conducts 

business. Lender eligibility 

requirements are contained in 7 CFR 

3565.102. Please review 7 CFR 3565.102 

for a complete list of all of the criteria. 

Below is a list of some of the eligible 

lender criteria under 7 CFR 3565.102: 

(1) Licensed business entity that 

meets the qualifications and has the 

approval of the Secretary of Housing 

and Urban Development (HUD) to make 

multi-family housing loans that are 

insured under the National Housing 

Act. A complete list of HUD approved 

lenders can be found on the HUD Web 

site at http://www.hud.gov. 

(2) A licensed business entity that 

meets the qualifications and has the 

approval of the Ginnie Mae or Freddie 

Mac or Fannie Mae corporations to 

make multi-family housing loans that 

are sold to the same corporations. A 

complete list of Freddie Mac approved 

lenders can be found in Freddie Mac’s 

Web site at http://www.freddiemac.com. 

Fannie Mae approved lenders are found 

at http://www.fanniemae.com. For a list 

of Ginnie Mae issuers, contact Ginnie 

Mae at http://www.ginniemae.gov. 

(3) A State or local HFA with a toptier rating from Moody’s or Standard & 

Poors, or member of the Federal Home 

Loan Bank system, and the 

demonstrated ability to underwrite, 

originate, process, close, service, 

manage, and dispose of multi-family 

housing loans in a prudent manner. 

(4) Be a GRRHP approved lender, 

defined as an entity with a current 

executed multi-family housing Lender’s 

Agreement with USDA Rural 

Development. 

(5) Lenders that can demonstrate the 

capacity to underwrite, originate, 

process, close, service, manage, and 

dispose of multi-family housing loans in 

a prudent manner. In order to be 

approved the lender will have to have 

an acceptable level of financial 

soundness as determined by a lender 

rating service. The submission of 

materials demonstrating capacity will be 

required if the lender’s response is 

selected. Lenders who are otherwise 

ineligible may become eligible if they 

maintain a correspondent relationship 

with an eligible lender that does have 

the capacity to underwrite, originate, 

process, close, service, manage, and 

dispose of multi-family housing loans in 

a prudent manner. In this case, the 

eligible lender must submit the response 

and application on company letterhead. 

All contractual and legal documentation 

will be signed between USDA Rural 

Development and the lender that 

submitted the response and application. 

GRRHP Lender Approval Application: 

Lenders whose responses are selected 

will be notified by the USDA Rural 

Development to submit a request for 

GRRHP lender approval application 

within 30 days of notification. Lenders 

who request GRRHP approval must 


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meet the standards in the 7 CFR 3565. 

Lenders that have received GRRHP 

lender approval in the past and are in 

good standing do not need to reapply for 

GRRHP lender approval. Requirements 

for retaining approved lender status are 

defined in 7 CFR 3565. 

Submission of Documentation for 

GRRHP Lender Approval: All lenders 

that have not yet received GRRHP 

lender approval must submit a complete 

lender application to: Director, MultiFamily Housing Guaranteed Loan 

Division, Rural Development, U.S. 

Department of Agriculture, Room 1263, 

STOP 0781, 1400 Independence 

Avenue, SW., Washington, DC 20250– 

0781. Lender applications must be 

identified as ‘‘Lender Application— 

Section 538 Guaranteed Rural Rental 

Housing Program’’ on the envelope. 

As the Section 538 program does not 

have a formal application form, a 

complete application consists of a cover 

letter requesting GRRHP lender 

approval and the following 

documentation: 

(1) Request for GRRHP lender 

approval on the lender’s letterhead; 

(2) Lenders who are HUD, Ginnie 

Mae, Freddie Mac or Fannie Mae multifamily approved lenders are required to 

show evidence of this status, such as a 

copy of a letter designating the 

distinction; 

(3) The lender’s Loan Origination, 

Loan Servicing, and Portfolio 

Management Handbooks. These 

handbooks should detail the lender’s 

policies and procedures on loan 

origination through termination for 

multi-family loans; 

(4) Portfolio performance data; 

(5) Copies of standard documents that 

will be used in processing GRRHP 

loans; 

(6) Resumes and qualifications of key 

personnel that will be involved in the 

GRRHP; 

(7) Identification of standards and 

processes that deviate from those 

outlined in the GRRHP Origination and 

Servicing Handbook (HB–1–3565) found 

at http://www.rurdev.usda.gov/regs/ 

hblist.html#hbw6; 

(8) A copy of the most recent audited 

financial statements; 

(9) Lender specific information 

including: (a) Legal name and address, 

(b) list of principal officers and their 

responsibilities, (c) certification that the 

officers and principals of the lender 

have not been debarred or suspended 

from Federal programs, (d) Form AD 

1047, ‘‘Certification Regarding 

Debarment, Suspension, and Other 

Responsibility Matters—Primary 

Covered Transaction’’, (e) certification 

that the lender is not in default or 

delinquent on any Federal debt or loan, 

or possesses an outstanding finding of 

deficiency in a Federal housing 

program, and (f) certification of the 

lender’s credit rating; and 

(10) Documentation on bonding and 

insurance. 

Additional Construction Lender 

Requirements 

The Agency can guarantee the 

‘‘permanent’’ loan. The Agency can only 

guarantee construction advances for the 

construction of the property if a 

guarantee for the permanent loan is 

requested for the same property. The 

Agency cannot, however, guarantee only 

the ‘‘construction’’ advances for the 

construction of a property. 

A lender making a construction loan 

must demonstrate an ability to originate 

and service construction loans, in 

addition to meeting the other 

requirements of 7 CFR part 3565, 

subpart C. The Agency may, at its 

discretion, consider other types of 

construction loans—such as those for 

commercial development—as a 

substitute for multi-family construction 

experience. 

Lender Responsibilities: Lenders will 

be responsible for the full range of loan 

origination, underwriting, management, 

servicing, compliance issues, and 

property disposition activities 

associated with their projects. The 

lender will be expected to provide 

guidance to the prospective borrower on 

the Agency requirements during the 

application phase. Once the guarantee is 

issued, the lender is expected to service 

each loan it underwrites or contract 

these services to another capable entity. 

Discussion of NOFA Responses 

Content of NOFA Responses: All 

responses require lender information 

and project specific data. Incomplete 

responses will not be considered for 

funding. Lenders will be notified of 

incomplete responses. Complete 

responses are to include a signed cover 

letter from the lender on the lender’s 

letterhead and the following 

information: 

(1) Lender certification—The lender 

must certify that the lender will make a 

loan to the prospective borrower for the 

proposed project, under specified terms 

and conditions subject to the issuance of 

the GRRHP guarantee. Lender 

certification must be on the lender’s 

letterhead and signed by both the lender 

and the prospective borrower. 

(2) Project specific data—The lender 

must submit the project specific data 

below on the lender’s letterhead, signed 

by both the lender and the prospective 

borrower. 

Data element Information that must be included 

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. 

Equal Opportunity Survey ......................................................................... Optional Completion. 

Tax Classification Type ............................................................................. State whether borrower is for profit, not for profit, etc. 

Borrower Tax ID # .................................................................................... Insert borrower’s tax ID #. 

Borrower DUNS# ...................................................................................... Insert DUNS number. 

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 Experience.Attach relevant information. 

New Construction, Acquisition With Rehabilitation, or the Revitalization, 

Repair, and Transfer (as stipulated in 7 CFR 3560.406) of Existing 

Direct Section 515 Housing or MPR.

State whether the project is new construction or acquisition with rehabilitation. Transfer costs, including equity payments, are subject to 

Agency approval and must be an eligible use of loan proceeds in 7 

CFR 3565.205. 


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Data element Information that must be included 

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. 

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.

Borrower’s Proposed Equity ..................................................................... Insert amount and source. 

Tax Credits ................................................................................................ Have tax credits been awarded? 

If tax credits were awarded, submit a copy of the award NOFA/evidence 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, Tribal Lands, or State’s Consolidated Plan or State Needs Assessment.Yes or No. Is the project in a recognized EZ or EC, Colonia, on an Indian 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. 

Is the Property Located in a Federally Declared Disaster Area? ............. If yes, please provide documentation (i.e., Presidential Declaration 

document). 

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 construction advances 

of the property if the guarantee for the permanent loan is requested 

for the same property. 

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 

Selection of Projects: All 2010 responses 

will be scored based on the criteria set 

forth below to establish their priority for 

obligation of funds. Per 7 CFR 3565.5(b), 

priority will be given to projects: In 

smaller rural communities, in the most 

needy communities having the highest 

percentage of leveraging, having the 

lowest interest rate, or having the 

highest ratio of 3–5 bedroom units to 

total units. 

On or prior to April 1, 2010, projects 

with an overall score of 25 points or 

more and a loan to development cost 

ratio less than 70 percent will be 

processed and, when ready, obligated 

on a first-come-first-serve basis, to the 

extent funds are available. Projects that 

score less than 25 points, and projects 

that score 25 points or more and do not 

have a loan to development cost ratio 

less than 70 percent, may be processed 

up to the point of obligation, but will 

not be obligated until after April 1, 

2010. After April 1, 2010, the Agency 

will select the highest scoring proposals 

using the procedure outlined in the 

DATES section of this NOFA. 

The seven priority criteria for projects 

are listed below. 

Priority 1—Projects located in eligible 

rural communities with the lowest 

populations will receive the highest 

points. 

Population size Points 

0–5,000 people ................................. 20 

5,001–10,000 people ........................ 15 

10,001–15,000 people ...................... 10 

15,001–20,000 people ...................... 5 

Priority 2—The neediest communities 

as determined by the median income 

from the most recent census data will 

receive points. The Agency will allocate 

points to projects located in 

communities having the lowest median 

income. Points for median income will 

be awarded as follows: 

Median income (dollars) Points 

Less than $45,000 ............................ 20 

$45,000–less than $55,000 .............. 15 

$55,000–less than $65,000 .............. 10 

$65,000–less than $75,000 .............. 5 

$75,000 or more ............................... 0 

Priority 3—Projects that demonstrate 

partnering and leveraging in order to 

develop the maximum number of units 

and promote partnerships with state and 

local communities will also receive 

points. Points will be awarded as 

follows: 

Loan to total development cost ratio 

(percentage %) Points 

90–100 .............................................. 0 

Less than 90–70 ............................... 10 

Less than 70–50 ............................... 20 


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Loan to total development cost ratio 

(percentage %) Points 

Less than 50 ..................................... 30 

Priority 4—The USDA Rural 

Development will award points to 

projects with the highest ratio of 3–5 

bedroom units to total units as follows: 

Ratio of 3–5 bedroom units to total 

units Points 

More than 50% ................................. 10 

21%–50% ......................................... 5 

Less than 21%–more than 0% ......... 1 

Priority 5—NOFA responses for the 

revitalization, repair, and transfer (as 

stipulated in 7 CFR 3560.406) of 

existing direct section 515 housing and 

properties involved in the Agency’s 

MPR program (transfer costs, including 

equity payments, are subject to Agency 

approval and must be an eligible use of 

loan proceeds listed in 7 CFR 3565.205) 

will receive an additional 10 points. 

Priority 6—Projects that are energyefficient and are certified by the 

following programs will receive twenty 

(20) points: 

(1) Green Communities sponsored by 

The Enterprise Foundation (http:// 

www.enterprisefoundation.org) or 

(2) LEED for Homes Program by the 

U.S. Green Builders (USGBC) (http:// 

www.usgbc.org) or 

(3) National Association of Home 

Builders (NAHB) ICC 700–2008 

National Green Building StandardTM

(http://www.nahb.org) or 

(4) Any other program, specific to a 

state or region that is similar to the 

above three that is approved by the 

Agency. 

Notifications: Responses will be 

reviewed for completeness and 

eligibility. The USDA Rural 

Development will notify those lenders 

whose responses are selected via letter. 

The USDA Rural Development will 

request lenders without GRRHP lender 

approval to apply for GRRHP lender 

approval within 30 days upon receipt of 

notification of selection. For 

information regarding GRRHP lender 

approval, please refer to the section 

entitled ‘‘Submission of Documentation 

for GRRHP Lender Approval’’ in this 

NOFA. 

Lenders will also be invited to submit 

a complete application to the USDA 

Rural Development State Office where 

the project is located. 

Submission of GRRHP Applications: 

Notification letters will instruct lenders 

to contact the USDA Rural Development 

State Office immediately following 

notification of selection to schedule 

required agency reviews. 

USDA Rural Development State Office 

staff will work with lenders in the 

development of an application package. 

In response to the NOFA, lenders must 

submit a response to the office address 

identified in the NOFA for the scoring 

and ranking of a proposed GRRHP 

project. The lender must provide the 

requested information concerning the 

project, to establish the purpose of the 

proposed project, its location, and how 

it meets the established priorities for 

funding. The Agency will determine the 

highest ranked responses based on 

priority criteria and a threshold score. 

NOFA responses will at least include 

the following [but the Agency, at its sole 

discretion, may request additional 

information]: 

(1) The Project 

(a) A brief description of the proposed 

location of the project, including town, 

county, state, and congressional district. 

(b) A description of the property and 

improvements, including lot size, 

number of units, building type, type of 

construction, etc., including preliminary 

drawings, if available. 

(c) The proposed development 

schedule. 

(d) Total project development cost. 

(e) The proposed rent structure and 

area median income (HUD published 

area median incomes can be found 

online at http://www.huduser.org). 

(f) Evidence of site control by the 

proposed borrower or a purchase 

option. 

(g) Description of any environmental 

issues that may affect the project. 

(h) Amount of loan to be guaranteed. 

(i) Type of project (e.g., elderly or 

family). 

(2) The Proposed Financing 

(a) Proposed loan amount and the 

proposed borrower’s equity. 

(b) Estimated development budget 

(total and cost/unit) and the proposed 

sources and uses of funds. This 

information should include all proposed 

financing sources—the amount, type, 

rates and terms of loans, tax credits, or 

grant funds. Letters of application and 

commitment letters should be included, 

if available. 

(c) Estimated loan-to-development 

cost ratio for the guaranteed loan. 

(d) Proposed Agency guarantee 

percentage for guaranteed loan. 

(e) Collateral—all security, in addition 

to the real property, proposed to secure 

the loan. 

(3) The Proposed Borrower 

(a) The name of the borrower and the 

type of ownership entity. List the 

general partners if a limited partnership, 

officers if a corporation or members of 

a Limited Liability Corporation. 

(b) Borrower’s contact name, mailing 

address, phone and fax numbers, and email address. 

(c) Certification that the borrower or 

principals of the ownership are not 

barred from participating in Federal 

housing programs and are not 

delinquent on any Federal debt. 

(d) Borrower’s unaudited or audited 

financial statements. 

(e) Statement of borrower’s housing 

development experience. 

(4) Lender Eligibility and Approval 

Status 

Evidence that the lender is either an 

approved lender for the purposes of the 

GRRHP or that the lender is eligible to 

apply for approved lender status. The 

lender’s application for approved lender 

status can be submitted with the 

response but must be submitted to the 

National Office within 30 calendar days 

of the lender’s receipt of the ‘‘Notice to 

Proceed with Application Processing’’ 

letter. 

(5) Competitive Criteria 

Information that shows how the 

proposal is responsive to the selection 

criteria specified in the NOFA. 

(6) Lender Certification 

A commitment letter signed by the 

lender, on the lender’s letterhead, 

indicating that the lender will make a 

loan to the borrower for the proposed 

project, under specified terms and 

conditions subject only to the issuance 

of a guarantee by the Agency. The 

deadline for the submission of a 

complete application and is 90 days 

from the date of notification of response 

selection. If the application is not 

received by the appropriate State Office 

within 90 days from the date of 

notification, the selection is subject to 

cancellation, thereby allowing another 

response that is ready to proceed with 

processing to be selected. The Agency 

has the ability to extend this 90-day 

deadline for receipt of an application at 

its own discretion. 

Obligation of Program Funds: The 

Agency will only obligate funds to 

projects that meet the requirements for 

obligation, including having undergone 

a satisfactory environmental review in 

accordance with the National 

Environmental Protection Act (NEPA) 

and completed Form RD 3565–1 for the 

selected project. 

Conditional Commitment: Once the 

required documents for obligation are 

received and all NEPA requirements 

have been met, the USDA Rural 

Development State Office will issue a 


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conditional commitment, which 

stipulates the conditions that must be 

fulfilled before the issuance of a 

guarantee, in accordance with 7 CFR 

3565.303. 

Issuance of Guarantee: The USDA 

Rural Development Office will issue a 

guarantee to the lender for a project in 

accordance with 7 CFR 3565.303. No 

guarantee can be issued without a 

complete application, review of 

appropriate certifications, satisfactory 

assessment of the appropriate level of 

environmental review, and the 

completion of any conditional 

requirements. 

Non-Discrimination Statement 

USDA prohibits discrimination in all 

its programs and activities on the basis 

of race, color, national origin, age, 

disability, and where applicable, sex, 

marital status, religion, sexual 

orientation, genetic information, 

political beliefs, reprisal, or because all 

or part of an individual’s income is 

derived from any public assistance 

program. (Not all prohibited bases apply 

to all programs.) Persons with 

disabilities who require alternative 

means for communication of program 

information (Braille, large print, 

audiotape, etc.) should contact USDA’s 

TARGET Center at (202) 720–2600 

(voice and TDD). To file a complaint of 

discrimination, write to USDA, Director, 

Office of Civil Rights, 1400 

Independence Avenue, SW., 

Washington, DC 20250–9410, or call 

(800) 795–3272 (voice), or (202) 720– 

6382 (TDD). ‘‘USDA is an equal 

opportunity provider, employer, and 

lender.’’ 

Dated: February 4, 2010. 

Tammye H. Trevin ̃ o, 

Administrator, Rural Housing Service. 

[FR Doc. 2010–3959 Filed 2–25–10; 8:45 am] 

BILLING CODE 3410–XV–P 

DEPARTMENT OF AGRICULTURE 

Federal Crop Insurance Corporation 

Funding Opportunity Title: Crop 

Insurance Education in Targeted 

States (Targeted States Program) 

Announcement Type: Announcement 

of Availability of Funds and Request for 

Application for Competitive 

Cooperative Agreements. 

Catalog of Federal Domestic Assistance 

Number (CFDA): 10.458 

Dates: Electronic applications 

submitted through Grants.gov must be 

received by close of business (COB) on 

April 27, 2010. Hard copy applications 

will not be accepted. 

Summary: The Federal Crop 

Insurance Corporation (FCIC), operating 

through the Risk Management Agency 

(RMA), announces the availability of 

approximately $5,000,000 (subject to 

availability of funds) to fund 

cooperative agreements under the Crop 

Insurance Education in Targeted States 

program (the Targeted States Program). 

The purpose of this cooperative 

agreement program is to deliver crop 

insurance education and information to 

U.S. agricultural producers in certain 

States that have been designated as 

historically underserved with respect to 

crop insurance. The states, collectively 

referred to as Targeted States, are 

Connecticut, Delaware, Hawaii, Maine, 

Maryland, Massachusetts, Nevada, New 

Hampshire, New Jersey, New York, 

Pennsylvania, Rhode Island, Utah, 

Vermont, West Virginia, and Wyoming. 

Multiple cooperative agreements will be 

funded not to exceed the maximum 

funding amount established for each of 

the 16 Targeted States. Awardees must 

agree to the substantial involvement of 

RMA in the project. Funding availability 

for this program may be announced at 

approximately the same time as funding 

availability for similar but separate 

programs—CFDA No. 10.455 

(Community Outreach and Assistance 

Partnerships), and CFDA No. 10.459 

(Commodity Partnerships for Small 

Agricultural Risk Management 

Education Sessions). Prospective 

applicants should carefully examine 

and compare the notices for each 

program. 

The collections of information in this 

announcement have been approved by 

OMB under control number 0563–0067. 

This Announcement Consists of Eight 

Sections: 

Section I—Funding Opportunity Description 

A. Legislative Authority 

B. Background 

C. Project Goal 

D. Purpose 

Section II—Award Information 

A. Type of Application 

B. Funding Availability 

C. Location and Target Audience 

D. Maximum Award 

E. Project Period 

F. Description of Agreement Award— 

Awardee Tasks 

G. RMA Activities 

H. Other Tasks 

Section III—Eligibility Information 

A. Eligible Applicants 

B. Cost Sharing or Matching 

Section IV—Application and Submission 

Information 

A. Electronic Application Package 

B. Content and Form of Application 

Submission 

C. Funding Restrictions 

D. Limitation on Use of Project Funds for 

Salaries and Benefits 

E. Indirect Cost Rates 

F. Other Submission Requirements 

G. Acknowledgement of Applications 

Section V—Application Review Process 

A. Criteria 

B. Selection and Review Process 

Section VI—Award Administration 

Information 

A. Award Notices 

B. Administrative and National Policy 

Requirements 

1. Requirement To Use Program Logo 

2. Requirement To Provide Project 

Information to an RMA-selected 

Representative 

3. Private Crop Insurance Organizations 

and Potential Conflict of Interest 

4. Access to Panel Review Information 

5. Confidential Aspects of Applications 

and Awards 

6. Audit Requirements 

7. Prohibitions and Requirements 

Regarding Lobbying 

8. Applicable OMB Circulars 

9. Requirement To Assure Compliance 

With Federal Civil Rights Laws 

10. Requirement To Participate in a Post 

Award Conference 

11. Requirement To Submit Educational 

Materials to the National AgRisk 

Education Library 

12. Requirement To Submit Proposed 

Results to the National AgRisk Education 

Library 

13. Requirement To Submit a Project Plan 

of Operation in the Event of a Human 

Pandemic Outbreak 

C. Reporting Requirements 

Section VII—Agency Contact 

Section VIII—Additional Information 

A. Dun and Bradstreet Data Universal 

Numbering System (DUNS) 

B. Required Registration With the Central 

Contract Registry (CCR) for Submission 

of Proposals 

C. Related Programs 

Full Text of Announcement 

I. Funding Opportunity Description 

A. Legislative Authority 

The Targeted States Program is 

authorized under section 524(a)(2) of 

the Federal Crop Insurance Act (Act). 

B. Background 

RMA promotes and regulates sound 

risk management solutions to improve 

the economic stability of American 

agriculture. On behalf of FCIC, RMA 

does this by offering Federal crop 

insurance products through a network 

of private-sector partners, overseeing the 

creation of new risk management 

products, seeking enhancements in 

existing products, ensuring the integrity 

of crop insurance programs, offering 

outreach programs aimed at equal 

access and participation of underserved 

communities, and providing risk 

management education and information. 

One of RMA’s strategic goals is to 


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