Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 74565 

developer. This is important to clarify 

because, in some cases, the Special 

Purpose Entity may not be able to satisfy 

the statutory requirements for transfer to 

a third-party entity, such as 

demonstrating a ‘‘satisfactory history of 

constructing or operating an affordable 

housing development;’’ this is because a 

new Special Purpose Entity is created 

for each project and would not have a 

history of past projects. 

FTA Response: 

i. FTA recognizes that this is a 

common concern among transit agencies 

and stakeholders interested in utilizing 

this provision. FTA further notes that 

Special Purpose Entities receiving 

LIHTC’s may take many different forms. 

In interpreting Special Purpose Entities 

formed for the purpose of utilizing 

LIHTCs under this provision, FTA will 

look to which party (i.e., public or 

nonprofit vs. for-profit entity) has 

control over the project. Ownership may 

be transferred to a for-profit entity to 

facilitate the use of tax credits for the 

project only if the public or nonprofit 

entity demonstrates in its application 

that it retains control over the property 

(i.e., still considered ‘‘owned’’ for 

purposes of this provision). Sufficient 

control may be satisfied by any of the 

following: (1) a fee simple interest in the 

Project property, (2) owns 51 percent or 

more of the general partner interests in 

a limited partnership or 51 percent or 

more of the managing member interests 

in a limited liability company with all 

powers of the general partner or 

managing member, (3) owns a lesser 

percentage of the general partner or 

managing member interests and holds 

control rights, or (4) owns 51 percent or 

more of all ownership interests in a 

limited partnership or limited liability 

company and holds certain control 

rights. 

‘‘Control rights,’’ as referenced above, 

include control over leasing of the 

project (e.g., exclusively maintaining 

and administering the waiting list, 

performing eligibility determinations) 

and consent rights over certain areas, 

such as changing the number of 

affordable housing units, setting utility 

allowances, selecting the management 

agent, or setting the operating budget. 

FTA will treat a Special Purpose Entity 

as a nonprofit entity under this asset 

disposition provision if they meet the 

above requirements. 

III. Interim Guidance 

FTA has reviewed and deliberated 

over the public comments received for 

the Proposed Asset Disposition 

Guidance. All feedback was appreciated 

and informative for further shaping this 

guidance. FTA makes made the 

following amendments in the Interim 

Asset Disposition Guidance: 

The Interim Asset Disposition 

Guidance is amended to provide a 

response to comments requesting that 

Special Purpose Entities using Low 

Income Housing Tax Credits (LIHTC) 

are treated as a nonprofit entity under 

this provision. FTA will allow Special 

Purpose Entities using LIHTCs to be 

treated as nonprofits if the nonprofit 

entity retains control over the project, as 

detailed above. 

Additionally, FTA amends the 

guidance to provide additional clarity 

on the area median income (AMI) 

percentage requirements. Some 

commenters voiced confusion over the 

statutory requirements that 40 percent 

of the housing units offered must be 

legally binding affordability restricted to 

tenants and owners at or below 60 

percent AMI, which shall include at 

least 20 percent offered to tenants and 

owners at or below 30 percent AMI. 

FTA will clarify that this is 20 percent 

out of the 40 percent, not 20 percent out 

of the totality of the project. 

On the eligibility requirements to use 

this provision, FTA amends the 

guidance to clarify that this provision 

applies to assets that have been acquired 

or improved with FTA assistance, 

including FTA-administered Federal 

funds that have been flexed over from 

other Operating Administrations, such 

as Federal Highway Administration 

(FHWA). However, this provision does 

not apply to assets acquired or 

improved with FTA-administered 

RAISE grants, as discussed above. 

FTA amends the guidance to provide 

additional clarifying language on the 

options available for compliance 

monitoring during the 30-year term, to 

include third party oversight. 

Nuria I. Fernandez, 

Administrator. 

[FR Doc. 2023–23946 Filed 10–30–23; 8:45 am] 

BILLING CODE 4910–57–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

[OMB Control No. 2900–0661] 

Agency Information Collection Activity 

Under OMB Review: State Veterans 

Homes Construction & Acquisition 

Grant Program (SVHCGP) 

AGENCY: Veterans Health 

Administration, Department of Veterans 

Affairs. 

ACTION: Notice. 

SUMMARY: In compliance with the 

Paperwork Reduction Act (PRA) of 

1995, this notice announces that the 

Veterans Health Administration, 

Department of Veterans Affairs, will 

submit the collection of information 

abstracted below to the Office of 

Management and Budget (OMB) for 

review and comment. The PRA 

submission describes the nature of the 

information collection and its expected 

cost and burden and it includes the 

actual data collection instrument. 

DATES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Refer to ‘‘OMB Control 

No. 2900–0661.’’ 

FOR FURTHER INFORMATION CONTACT: 

Maribel Aponte, Office of Enterprise 

and Integration, Data Governance 

Analytics (008), 810 Vermont Avenue 

NW, Washington, DC 20420, (202) 266– 

4688 or email maribel.aponte@va.gov. 

Please refer to ‘‘OMB Control No. 2900– 

0661’’ in any correspondence. 

SUPPLEMENTARY INFORMATION: 

Authority: 44 U.S.C. 3501–3521. 

Title: State Veterans Homes 

Construction & Acquisition Grant 

Program (SVHCGP), VA Forms 10– 

0388–1, 10–0388–2, 10–0388–3, 10– 

0388–4, 10–0388–5, 10–0388–6, 10– 

0388–7, 10–0388–8, 10–0388–9, 10– 

0388–10, 10–0388–12, 10–0388–13. 

OMB Control Number: 2900–0661. 

Type of Review: Reinstatement of a 

previously approved collection. 

Abstract: 38 U.S.C. 8133(a) and 

8135(a) authorize and appropriate 

expenditure of funds for State Home 

Domiciliary, Nursing Home, and 

Hospital Care. These portions of the 

U.S.C. require, among other things, that 

the State applicant provide the 

Department of Veterans Affairs (VA) 

with an application. Only State 

governments and recognized federal 

tribes (their governments) will submit 

the information to complete an 

application for the State Veterans 

Homes Construction Grant Program 

(SVHCGP); private groups or citizens are 

not eligible. Applicants will complete 

VA Forms 10–0388–1, 10–0388–2, 10– 

0388–3, 10–0388–4, 10–0388–5, 10– 

0388–6, 10–0388–7, 10–0388–8, 10– 

0388–9, 10–0388–10, 10–0388–12, and 

10–0388–13 to apply for the SVHCGP 

and to certify compliance with VA 

requirements. VA uses this information, 

along with other documents submitted 

to evaluate the feasibility of the projects 


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74566 Federal Register / Vol. 88, No. 209 / Tuesday, October 31, 2023 / Notices 

for VA participation, to determine 

eligibility for a grant awards. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to a collection of information 

unless it displays a currently valid OMB 

control number. The Federal Register 

Notice with a 60-day comment period 

soliciting comments on this collection 

of information was published at 88 FR 

39 on February 28, 2023, page 12721. 

Affected Public: State, local, or Tribal 

governments. 

Estimated Annual Burden: 1,200 

hours. 

Estimated Average Burden per 

Respondent: 24 hours. 

Frequency of Response: On occasion. 

Estimated Number of Respondents: 

50. 

By direction of the Secretary. 

Maribel Aponte, 

VA PRA Clearance Officer, Office of 

Enterprise and Integration, Data Governance 

Analytics, Department of Veterans Affairs. 

[FR Doc. 2023–23928 Filed 10–30–23; 8:45 am] 

BILLING CODE 8320–01–P 


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