E8-1354. Notice of Request for Revision of a Currently Approved Information Collection

AGENCIES:

Rural Housing Service and Rural Business-Cooperative Service, USDA.

ACTION:

Proposed collection; comments requested.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995, this notice announces the intention of the above-named Agencies to request an extension for the currently approved information collection in support of the servicing of Community and Direct Business Programs Loans and Grants.

DATES:

Comments on this notice must be received by March 28, 2008 to be assured of consideration.

FOR FURTHER INFORMATION CONTACT:

Beth Jones, Senior Loan Specialist, Community Programs Direct Loans and Grants Processing and Servicing, RHS, USDA, 1400 Independence Ave., SW., STOP 0787, Washington, DC 20250-0787, Telephone [phone], E-mail: [e-mail].

SUPPLEMENTARY INFORMATION:

Title: 7 CFR 1951-E, Servicing of Community and Direct Business Programs Loans and Grants.

OMB Number: 0575-0066.

Expiration Date of Approval: June 30, 2008.

Type of Request: Extension of a currently approved information collection.

Abstract: The Community Facilities program is authorized to make loans and grants to public entities, nonprofit corporations, and Indian tribes for the development of essential community facilities primarily serving rural residents. The Direct Business and Industry program, under Rural Business-Cooperative Service, is authorized to make loans to improve, develop, or finance business, industry, and employment, and improve the economic and environmental climate in rural communities.

The purpose of this collection is to establish security servicing policies, assist recipients in meeting the objectives of the loans and grants, repay loans on schedule, comply with agreements, and protect the Government's financial interest. Routine servicing responsibilities include collection of payments, compliance reviews, security inspections, review of financial reports, determining applicant/borrower eligibility and project feasibility for various servicing actions, monitoring delinquent accounts, and supervision activities.

Supervision by the Agencies include, but is not limited to: review of budgets, management reports, audits and financial statements; performing security inspections; providing, arranging, or recommending technical assistance; evaluating environmental impacts of proposed actions by the borrower; performing civil rights compliance reviews; and assisting in the development of workout agreements.

Information will be collected by the field offices from applicants, borrowers, consultants, lenders, and attorneys.

Failure to collect information could result in improper servicing of these loans.

Estimate of Burden: Public reporting burden for this collection of information is estimated to average 1 hour per response.

Respondents: State, local or tribal Governments, Not-for-profit institutions, businesses, and individuals.

Estimated Number of Respondents: 587.

Estimated Number of Responses per Respondent: 2.

Estimated Number of Responses: 1,094.

Estimated Total Annual Burden on Respondents: 1,042.

Copies of the information collection can be obtained from Cheryl Thompson, Regulations and Paperwork Management Branch, at [phone].

Comments: Comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Agencies, including whether the information will have practical utility; (b) the accuracy of the Agencies' estimate of the burden of the proposed collection of information including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. Comments may be sent to Cheryl Thompson, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, Rural Development, 7th Floor, Room 701, 300 7th Street, SW., Washington, DC 20024. All responses to this notice will be summarized and included in the request for OMB approval. All comments will also become a matter of public record.

Dated: January 18, 2008.

Russell T. Davis,

Administrator, Rural Housing Service.

Ben Anderson,

Administrator, Rural Business-Cooperative Service.