[Federal Register Volume 66, Number 123 (Tuesday, June 26, 2001)]
[Notices]
[Pages 33973-33974]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-15923]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4653-N-08]


Notice of Proposed Information Collection for Public Comment: 
Survey of Market Absorption

AGENCY: Office of the Assistant Secretary for Policy Development and 
Research, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for review as required by the Paperwork Reduction Act of 1995. The 
Department is soliciting public comments on the subject proposal.

DATES: Comments Due Date: August 27, 2001.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Reports Liaison Officer, Officer 
of Policy Development and Research, Department of Housing and Urban 
Development, 451 7th Street SW, Room 8226, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Ronald J. Sepanik (202) 708-1060 x5887 
(this is not toll-free) for copies of the proposed forms and other 
relevant documents.

SUPPLEMENTARY INFORMATION: The Department will submit the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This Notice 
is soliciting comments from members of the public and affected agencies 
concerning the proposed collection of information to: (1) Evaluate 
whether the proposed collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information will have practical utility; (2) evaluate the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) enhance the quality, utility, and clarity of the 
information to be collected; and (4) minimize the burden of the 
collection of information on those who are to respond, including 
through the use of appropriate automated collection techniques or other 
forms of information technology, e.g., permitting electronic submission 
of responses.
    This Notice also lists the following information:
    Title of Proposal: The Survey of Market Absorption (SOMA).
    OMB Number: 2528-0012 (expires 07/31/2002).
    Description of the need for the information and proposed use: The 
Survey of Market Absorption (SOMA) provides the data necessary to 
measure the rate at which new rental apartments and new condominium 
apartments are absorbed; that is, taken off the market, usually by 
being rented or sold, over the course of the first twelve months 
following completion of a building.
    The data are collected at quarterly intervals until the twelve 
months conclude, or until the units in a building are completely 
absorbed. The survey also provides estimates of certain 
characteristics, i.e., asking rent/price, number of units, and number 
of bedrooms.
    The survey provides a basis for analyzing the degree to which new 
apartment construction is meeting the present and future needs of the 
public. Additionally, beginning with new construction in 2002, the 
survey will attempt to ascertain the number and degree of services 
provided by Assisted Living type units.
    Members of affected public: Rental Agents/Builders.
    Estimation of the total number of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: 4,000 hours, number of respondents is 
12,000 taking an estimate of 20 minutes; frequency of response is four 
times (maximum). All information will be collected in person or via 
telephone.
    Status of the proposed information collection: Pending OMB 
approval.

    Authority:  Title 12, U.S.C. section 1701z.


[[Page 33974]]


    Dated: June 18, 2001.
Lawrence L. Thompson,
General Deputy Assistant, Secretary for Policy Development and 
Research.
[FR Doc. 01-15923 Filed 6-25-01; 8:45 am]
BILLING CODE 4210-62-M