19946 Federal Register / Vol. 61, No. 87 / Friday, May 3, 1996 / Notices

technology, e.g., permitting electronic

submission of responses.

This Notice also lists the following

information:

Title of Proposal: Owner Certification

on Low-Income Housing Tax Credits.

OMB Control Number: 2502–0377.

Agency form numbers: HUD–2880.

Description of the need for the

information and proposed use: Since

the 1986 Tax Reform Act, Low Income

Housing Tax Credits (LIHTCs) have

provided a significant amount of equity

financing supporting the development

of affordable housing units. Since the

implementation of the 1989 HUD

Reform Act, sponsors of HUD

Multifamily projects seeking new

subsidies from HUD have been required

to make a specific certification with

respect to LIHTCs.

Since 1992 HUD has, through Form

HUD–2880, ‘‘Applicant/Recipient

Disclosure/Update Report’’ required that

those persons or entities which receive,

or are applying to receive, HUD and

other government assistance, certify

their intentions regarding the nature and

extent of the total assistance which will

be required or obtained, including

LIHTCs.

The basic concept of ‘‘subsidy

layering’’ is that total project Sources of

financing may not exceed total project

uses, and to the extent that they do,

must be reduced so as to prevent excess

subsidy layering. Therefore, and as a

logical first step, project sponsors using

LIHTCs and any other form of HUD

assistance must identify all anticipated

project uses when completing Form

HUD–2880. HUD recognizes that this

estimation is not particularly easy to

make at a multi-million dollar,

Multifamily project’s formative stages.

Nevertheless, pursuant to HUD Reform

Act requirements, certain project uses

relating to the Builder, Developer and

Syndicator fees are limited in

accordance with HUD Housing’s

Subsidy Layering Guidelines and

implementing Notices and instructions,

and every effort must be made to

segregate out-of-pocket project costs

which might otherwise be lumped into

developer’s fees.

Sponsors of LIHTC projects, in

particular, must be careful to recognize

that all costs associated with the project

be properly estimated and

characterized. For example, incentives

earned through successful performance

of what are essentially property

management duties should not be

lumped into the Sources and Uses

Statement which the Form HUD–2880

certification requires as generic

‘‘Developer’s Fees’’. Such speculative

future Uses of presently sought-after

LIHTC equity financing, and ultimately

syndication installment proceeds,

should be identified as ‘‘property

management fees’’ or ‘‘General Partner

Reserve incentives’’.

HUD has learned that the LIHTC

certification and disclosure

requirements need not be an

impediment to successful development

of LIHTC projects using FHA financing;

nor do the subsidy layering guidelines

relating to Builders and Developers fees

mean that subsidy reductions will

necessarily be imposed. Subsidy

gathering problems are far more

common to Developers of LIHTC and

other Affordable Multifamily projects

than subsidy layering problems. Only

through informed, thorough preparation

of Form HUD–2880 can it be determined

whether a layering problem exists.

Members of affected public:

Multifamily Project Sponsors; an

estimation of the total numbers of hours

needed to prepare the information

collection is 1250, the number of

respondents, 500, frequency of

response, once, and hours of response,

2.5.

Status of the proposed information

collection: Extension with change.

Authority: Section 3506 of the Paperwork

Reduction Act of 1995, 44 U.S.C. Chapter 35,

as amended.

Dated: April 26, 1996.

Nicolas P. Retsinas,

Assistant Secretary for Housing—Federal

Housing Commissioner.

[FR Doc. 96–11004 Filed 5–2–96; 8:45 am]

BILLING CODE 4210–27–M

[Docket No. FR–3917–N–70]

Office of the Assistant Secretary for

Housing; Notice of Proposed

Information Collection for Public

Comment

AGENCY: Office of the Assistant

Secretary for Housing, HUD.

ACTION: Notice.

SUMMARY: The proposed information

requirement described below will be

submitted to the Office of Management

and Budget (OMB) for review, as

required by the Paperwork Reduction

Act. The Department is soliciting public

comments on the subject proposal.

DATES: July 2, 1996.

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:

Oliver Walker, Housing Department of

Housing and Urban Development, 451–

7th Street SW., Room 9116, Washington,

D.C. 20410.

FOR FURTHER INFORMATION CONTACT:

Donald Kline, Single Family Insurance

Operations Division (SFIOD), telephone

number (202) 708–0614 ext. 3511 for

form HUD–27050–A or Savannah

Williams, SFIOD, telephone number

(202) 708–0614 ext. 3407 for form HUD–

27050–B (these are not toll-free

numbers) for copies of the proposed

forms and other available 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).

The Notice is soliciting comments

from members of the public and

affecting agencies concerning the

proposed collection of information to:

(1) Evaluate whether the proposed

collection of information is necessary

for proper performance of the function

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: Mortgage Insurance

Termination—HUD–27050–A,

Application for Premium Refund or

Distributive Share Payment, HUD–

27050–B.

OMB Control Number: 2502–0414.

Description of the Need for the

Information and Proposed Use:

Mortgage Insurance Termination, form

HUD–27050–A, is used by servicing

mortgagees to comply with HUD

requirements for reporting termination

of FHA mortgage insurance. This form

is used whenever FHA mortgage

insurance is terminated and no claim for

insurance benefits will be filed. Under

the new streamline III program when

the form is submitted on magnetic tape,

the form can be used to directly pay

eligible homeowners. This condition

occurs when the form passes the criteria

of certain system edits.

As the result the system generates a

disbursement to the eligible homeowner

for the refund consisting of the unused

portion of the paid premium. The

collection information required is used
Federal Register / Vol. 61, No. 87 / Friday, May 3, 1996 / Notices 19947

to update HUD’s Single Family

Insurance System. The billing of

mortgage insurance premiums is

discontinued as a result of the

transaction. Without this information

the premium collection/monitoring

function would be severely impeded

and program data would be unreliable.

Under streamline III when the form is

processed and but does not pass the

series of edits the system generates in

these cases the form HUD–27050–B to

the homeowner to be completed and

returned to HUD for further processing

for the refund. In general a Premium

Refund is the difference between the

amount of prepaid premium and the

amount of the premium that has been

earned by HUD up to the time the

mortgage is terminated.

Estimate of Burden: Public reporting

burden for this collection of information

for the HUD–27050–A is estimated to

average 5 minutes per response,

including the time for reviewing

instructions, searching existing data

sources, gathering and maintaining the

data needed, and completing and

reviewing the collection of information.

The number of respondents is 9,500 and

the frequency of response is as required

and the volume per respondents is 1 to

40,000 depending on the size of their

FHA portfolio.

Public reporting burden for this

collection of information for the HUD–

27–50–B is estimated to average 15

minutes per response, including the

time for reviewing instructions,

searching existing data sources

gathering and maintaining the data

needed, and completing and reviewing

the collection of information. The

number of respondents is 382, 000 and

the frequency of response is one time

and the volume per respondents is 1.

Authority: Section 3506 of the Paperwork

Reduction Act of 1995, 44 U.S.C. Chapter 35,

as amended.

Dated: April 26, 1996.

Nicolas P. Retsinas,

Assistant Secretary for Housing-Federal

Housing Commissioner.

[FR Doc. 96–11005 Filed 5–2–96; 8:45 am]

BILLING CODE 4210–27–M

Office of the Assistant Secretary for

Community Planning and

Development

[Docket No. FR–3778–N–83]

Federal Property Suitable as Facilities

To Assist the Homeless

AGENCY: Office of the Assistant

Secretary for Community Planning and

Development, HUD.

ACTION: Notice.

SUMMARY: This Notice identifies

unutilized, underutilized, excess, and

surplus Federal property reviewed by

HUD for suitability for possible use to

assist the homeless.

FOR FURTHER INFORMATION CONTACT:

Mark Johnston, Room 7256, Department

of Housing and Urban Development,

451 Seventh Street SW, Washington, DC

20410; telephone (202) 708–1226; TDD

number for the hearing- and speechimpaired (202) 708–2565 (these

telephone numbers are not toll-free), or

call the toll-free Title V information line

at 1–800–927–7588.

SUPPLEMENTARY INFORMATION: In

accordance with 24 CFR part 581 and

section 501 of the Stewart B. McKinney

Homeless Assistance Act (42 U.S.C.

11411), as amended, HUD is publishing

this Notice to identify Federal buildings

and other real property that HUD has

reviewed for suitability for use to assist

the homeless. The properties were

reviewed using information provided to

HUD by Federal landholding agencies

regarding unutilized and under utilized

buildings and real property controlled

by such agencies or by GSA regarding

its inventory of excess or surplus

Federal property. This Notice is also

published in order to comply with the

December 12, 1988 Court Order in

National Coalition for the Homeless v.

Veterans Administration, No. 88–2503–

OG (D.D.C.).

Properties reviewed are listed in this

Notice according to the following

categories: Suitable/available, suitable/

unavailable, suitable/ to be excess, and

unsuitable. The properties listed in the

three suitable categories have been

reviewed by the landholding agencies,

and each agency has transmitted to

HUD: (1) Its intention to make the

property available for use to assist the

homeless, (2) its intention to declare the

property excess to the agency’s needs, or

(3) a statement of the reasons that the

property cannot be declared excess or

made available for use as facilities to

assist the homeless.

Properties listed as suitable/available

will be available exclusively for

homeless use for a period of 60 days

from the date of this Notice. Homeless

assistance providers interested in any

such property should send a written

expression of interest to HHS, addressed

to Brian Rooney, Division of Property

Management, Program Support Center,

HHS, room 5B–41, 5600 Fishers Lane,

Rockville, MD 20857; (301) 442–2265.

(This is not a toll-free number.) HHS

will mail to the interested provider an

application packet, which will include

instructions for completing the

application. In order to maximize the

opportunity to utilize a suitable

property, providers should submit their

written expressions of interest as soon

as possible. For complete details

concerning the processing of

applications, the reader is encouraged to

refer to the interim rule governing this

program, 24 CFR part 581.

For properties listed as suitable/to be

excess, that property may, if

subsequently accepted as excess by

GSA, be made available for use by the

homeless in accordance with applicable

law, subject to screening for other

Federal use. At the appropriate time,

HUD will publish the property in a

Notice showing it as either suitable/

available or suitable/unavailable.

For properties listed as suitable/

unavailable, the landholding agency has

decided that the property cannot be

declared excess or made available for

use to assist the homeless, and the

property will not be available.

Properties listed as unsuitable will

not be made available for any other

purpose for 20 days from the date of this

Notice. Homeless assistance providers

interested in a review by HUD of the

determination of unsuitability should

call the toll free information line at 1–

800–927–7588 for detailed instructions

or write a letter to Mark Johnston at the

address listed at the beginning of this

Notice. Included in the request for

review should be the property address

(including zip code), the date of

publication in the Federal Register, the

landholding agency, and the property

number.

For more information regarding

particular properties identified in this

Notice (i.e., acreage, floor plan, existing

sanitary facilities, exact street address),

providers should contact the

appropriate landholding agencies at the

following addresses: Army: Mr. Derrick

Mitchell, CECPW–FP, U.S. Army Center

for Public Works, 7701 Telegraph Road,

Alexandria, VA 22310–3862; (703) 428–

6083; Navy: Mr. John Kane, Deputy

Division Director, Department of the

Navy, Real Estate Operations, Naval

Facilities Engineering Command, Code

241A, 200 Stovall Street, Alexandria,

VA 22332–2300; (703) 325–0474; Air

Force: Ms. Barbara Jenkins, Air Force

Real Estate Agency, Bolling Air Force

Base, 112 Luke Avenue, Suite 104,

Building 5683, Washington, DC 20332–

8020; (202) 767–4184; COE: Mr. Bob

Swieconek, Army Corps of Engineers,

Civilian Facilities, Pulaski Building,

Room 4224, 20 Massachusetts Avenue,

NW, Washington, DC 20314–1000; (202)

761–1753; GSA: Mr. Brian K. Polly,

Assistant Commissioner, General

Services Administration, Office of