[Federal Register Volume 60, Number 62 (Friday, March 31, 1995)]
[Rules and Regulations]
[Pages 16572-16573]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8054]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing--Federal Housing 
Commissioner

24 CFR Parts 246 and 266

[Docket No. R-95-1685; FR-3383-F-04]


Housing Finance Agency Risk-Sharing Program for Insured 
Affordable Multifamily Project Loans: Conforming Amendment

AGENCY: Office of Assistant Secretary for Housing--Federal Housing 
Commissioner, HUD.

ACTION: Final rule; Conforming Amendment.

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SUMMARY: On December 5, 1994, HUD published a final rule that finalized 
the standards and procedures of the Housing Finance Agency Risk-Sharing 
Program for Insured Affordable Multifamily Project Loans, first 
implemented by a December 3, 1993 interim rule.
    The purpose of this final rule is to make a conforming amendment to 
the December 5, 1994 final rule that will reflect the assumption of 
environmental review responsibilities by States and units of general 
local government as provided in an interim rule published by HUD on 
March 13, 1995.

DATES: May 1, 1995.

FOR FURTHER INFORMATION CONTACT:
Jane Luton, Acting Director, Policies and Procedures Division, Office 
of Insured Multifamily Housing Development, Room 6116, (202) 708-2556. 
Hearing- and speech-impaired persons may call (202) 708-4594. (The 
above listed telephone numbers are not toll-free.)

SUPPLEMENTARY INFORMATION:

I. Background

    On December 5, 1994 (59 FR 52514), HUD published a final rule that 
finalized the standards and procedures of the Housing Finance Agency 
Risk-Sharing Program for Insured Affordable Multifamily Project Loans, 
a program that was implemented by a December 3, 1993 interim rule (58 
FR 64032). The preamble to the December 5, 1994 final rule stated that 
24 CFR part 266 would be amended upon publication of the changes made 
to 24 CFR part 58 (See 59 FR 62517, column one).
    On March 13, 1995 (60 FR 13518) HUD published an interim rule 
amending 24 CFR part 58, entitled ``Environmental Review Procedures for 
Recipients Assuming HUD Responsibilities.'' Section 58.1(c)(8) of the 
March 13, 1995 interim rule adds the FHA Multifamily Housing Finance 
Agency Risk Sharing Pilot Program under section 542(c) of the Housing 
and Community Development Act of 1992 as one of the programs and 
activities for which States and units of general local government are 
authorized to assume responsibility of environmental review (in lieu of 
HUD).
    Accordingly, Sec. 266.210(b) of the December 5, 1994 final rule, 
which identifies environmental reviews as a HUD-retained review 
function, is amended by this final rule to be consistent with 
Sec. 58.1(c)(8) of the March 13, 1995 interim rule.

II. Justification for Final Rule

    In general, the Department publishes a rule for public comment 
before issuing a rule for effect, in accordance with its own 
regulations on rulemaking, 24 CFR part 10. However, part 10 does 
provide for exceptions from that general rule where the agency finds 
good cause to omit advance notice and public participation. The good 
cause requirement is satisfied with prior public procedure is 
``impracticable, unnecessary, or contrary to the public interest.'' (24 
CFR 10.1) The Department finds that good cause exists to publish this 
rule for effect without first soliciting public comment, in that prior 
public procedure is unnecessary and contrary to the public interest. In 
the December 5, 1994 final rule, the public was advised that this 
amendment would be made to the HFA Risk Sharing rule as soon as the 
changes to part 58 were made. This rule is also technical in nature, 
since it makes a conforming amendment to part 266 to make it consistent 
with the recently issued changes to part 58. Additionally, it is 
contrary to public interest to first seek public comment before issuing 
this rule for effect because it is in the interest of the HFA Risk 
Sharing Program, and the participants and beneficiaries thereof, to be 
able to utilize as soon as possible the amended environmental review 
procedures of part 58.
[[Page 16573]]

III. Other Matters

Impact on the Environment

    A Finding of No Significant Impact with respect to the environment 
was made in accordance with HUD regulations at 24 CFR part 50 that 
implement section 102(2)(C) of the National Environmental Policy Act of 
1969, 42 U.S.C. 4332, in connection with the HFA Risk Sharing final 
rule. That Finding of No Significant Impact remains applicable to this 
technical confirming rule, and is available for public inspection and 
copying during regular business hours (7:30 a.m. to 5:30 p.m.) in the 
Office of the Rules Docket Clerk, room 10276, 451 Seventh Street, SW, 
Washington, DC 20410-0500.

Federalism Impact

    The General Counsel, as the Designated Official under section 6(a) 
of Executive Order 12612, Federalism, has determined that the policies 
contained in this rule do not have significant impact on States or 
their political subdivisions since the requirements of the rule are 
limited to technical amendments necessary to carry out accurately the 
provisions of programs whose regulations were not amended in the 
original Consolidated Plan rule.

Impact on the Family

    The General Counsel, as the Designated Official under Executive 
Order 12606, The Family, has determined that this rule does not have 
potential for significant impact on family formation, maintenance, and 
general well-being, and, thus is not subject to review under the Order 
since it is only a technical, confirming rule.

Impact on Small Entities

    The Secretary, in accordance with the Regulatory Flexibility Act (5 
U.S.C. 605(b)), has reviewed this rule before publication and by 
approving it certifies that this rule will not have a significant 
impact on a substantial number of small entities, because it imposes no 
new burdens on jurisdictions.

Regulatory Agenda

    This rule was not listed in the Department's Semiannual Regulatory 
Agenda published on November 14, 1994 (59 FR 57632, 57641), under 
Executive Order 12866 and the Regulatory Flexibility Act.

List of Subjects in 24 CFR Part 266

    Aged, Fair housing, Intergovernmental relations, Mortgage 
insurance, Low and moderate income housing, Reporting and recordkeeping 
requirements.

    In accordance with the reasons set forth in the preamble, 24 CFR 
part 266 is amended as follows:

PART 266--HOUSING FINANCE AGENCY RISK-SHARING PROGRAM FOR INSURED 
AFFORDABLE MULTIFAMILY PROJECT LOANS

    1. The authority citation for part 266 continues to read as 
follows:

    Authority: 12 U.S.C. 1707; 42 U.S.C. 3535(d).

    2. In Sec. 266.201, paragraph (b) is revised to read as follows:


Sec. 266.210  HUD-retained review functions.

* * * * *
    (b) Environmental review requirements. To determine compliance with 
the requirements of the National Environmental Policy Act of 1969 and 
related laws and authorities, the HUD Field Office (or other 
responsible entity through such delegation as may be in effect by 
regulation hereafter) will visit each project site proposed for 
insurance under this part and prepare the applicable environmental 
reviews as set forth in 24 CFR part 50 (or as set forth in 24 CFR part 
58 for the other responsible entity). These requirements must be 
completed before HUD may issue the firm approval letter.
* * * * *
    Dated: March 28, 1995.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 95-8054 Filed 3-30-95; 8:45 am]
BILLING CODE 4210-27-M