[Federal Register Volume 65, Number 228 (Monday, November 27, 2000)]
[Notices]
[Page 70691]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-30233]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Funding Availability (NOFA) for Section 515 Rural 
Rental Housing Funds and Section 521 Rental Assistance for Needs 
Resulting From Hurricanes Dennis, Floyd, and Irene; Extension of 
Application Deadline

AGENCY: Rural Housing Service (RHS), USDA.

ACTION: Notice of extension of application deadline.

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SUMMARY: The Rural Housing Service (RHS) extends the deadline for 
submitting applications for section 515 funds and section 521 rental 
assistance for needs resulting from hurricanes Dennis, Floyd, and Irene 
announced in a notice of funding availability (NOFA) published August 
18, 2000 (65 FR 50497). This action is taken to provide additional 
information on the source and type of funds that RHS considers 
leveraged assistance and to give applicants the opportunity to adjust 
their applications based on this information. Finally, this extension 
will allow eligible entities additional time to submit applications.

DATES: Accordingly, the deadline for submitting applications under the 
notice published August 18, 2000 (65 FR 50497), is extended to 5:00 
p.m. local time for each Rural Development State office on December 11, 
2000. The application deadline is firm as to date and hour. Applicants 
intending to mail applications must provide sufficient time to permit 
delivery on or before the closing deadline date and time. Acceptance by 
a post office or private mailer does not constitute delivery. Facsimile 
(FAX) and postage due applications will not be accepted.

FOR FURTHER INFORMATION CONTACT: For general information, applicants 
may contact Linda Armour, Senior Loan Officer, Multi-Family Housing 
Processing Division, Rural Housing Service, United States Department of 
Agriculture, Stop 0781, 1400 Independence Avenue, SW, Washington, DC, 
20250, telephone (202) 720-1753 (voice) (this is not a toll free 
number) or (800) 877-8339 (TDD-Federal Information Relay Service).

SUPPLEMENTARY INFORMATION:

Background and Discussion of Extension of Application Deadline

    RHS published a Notice of Funding Availability (NOFA) on August 18, 
2000 (65 FR 50497), with an application deadline of October 17, 2000. 
Upon reviewing applications received, RHS determined that the NOFA was 
ambiguous regarding the source and type of funds that RHS considers 
leveraged assistance. From the applications received, RHS determined 
that applicants interpreted this ambiguity in different ways.
    Therefore, to clarify this issue, applicants are hereby advised 
that leveraged assistance includes loans and grants from other sources, 
contributions from the applicant above the required contribution 
indicated by the Sources and Uses Comprehensive Evaluation (available 
from the Rural Development State Office) and tax abatements or other 
savings in operating costs provided that, at the end of the abatement 
period when the benefit is no longer available, the basic rents are 
comparable to or lower than the basic rents if RHS provided full 
financing. The required applicant contribution is not considered 
leveraged assistance.
    RHS has also determined that some, but not all, applicants received 
a copy of the worksheet used by RHS to calculate the point score for 
leveraged assistance. To ensure that all applicants are treated fairly, 
applicants who submitted an application under the notice published 
August 18, 2000 will be provided with a copy of this Notice and the 
worksheet used by RHS to calculate leveraged assistance. Applicants who 
wish to adjust their application based on this additional information 
must re-submit their application by the extension deadline published in 
this Notice. Finally, this extension will allow eligible entities 
additional time to submit applications. Such entities may contact the 
Rural Development State office to obtain a copy of the worksheet used 
by RHS to calculate leveraged assistance.

    Dated: November 17, 2000.
James C. Kearney,
Administrator, Rural Housing Service.
[FR Doc. 00-30233 Filed 11-24-00; 8:45 am]
BILLING CODE 3410-XV-U