[Federal Register Volume 60, Number 191 (Tuesday, October 3, 1995)]
[Notices]
[Pages 51840-51848]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24470]
[[Page 51839]]
_______________________________________________________________________
Part III
Department of Housing and Urban Development
_______________________________________________________________________
Office of the Secretary
_______________________________________________________________________
Regulatory Waiver Requests Granted; Notice
Federal Register / Vol. 60, No. 191 / Tuesday, October 3, 1995 /
Notices
[[Page 51840]]
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Secretary
[Docket No. FR-3864-N-04]
Notice of Regulatory Waiver Requests Granted
AGENCY: Office of the Secretary, HUD.
ACTION: Public notice of the granting of regulatory waivers. Request:
April 1, 1995 through June 30, 1995.
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SUMMARY: Under the Department of Housing and Urban Development Reform
Act of 1989 (Reform Act), the Department (HUD) is required to make
public all approval actions taken on waivers of regulations. This
notice is the eighteenth such notice being published on a quarterly
basis, providing notification of waivers granted during the preceding
reporting period. The purpose of this notice is to comply with the
requirements of section 106 of the Reform Act.
FOR FURTHER INFORMATION CONTACT: For general information about this
Notice, contact Camille E. Acevedo, Assistant General Counsel for
Regulations, Room 10276, Department of Housing and Urban Development,
451 Seventh Street, SW., Washington, DC 20410; telephone 202-708-3055;
TDD: (202) 708-3259. (These are not toll-free numbers.) For information
concerning a particular waiver action, about which public notice is
provided in this document, contact the person whose name and address is
set out, for the particular item, in the accompanying list of waiver-
grant actions.
SUPPLEMENTARY INFORMATION: As part of the Housing and Urban Development
Reform Act of 1989, the Congress adopted, at HUD's request, legislation
to limit and control the granting of regulatory waivers by the
Department. Section 106 of the Act (Section 7(q)(3)) of the Department
of Housing and Urban Development Act, 42 U.S.C. 3535(q)(3), provides
that:
1. Any waiver of a regulation must be in writing and must specify
the grounds for approving the waiver;
2. Authority to approve a waiver of a regulation may be delegated
by the Secretary only to an individual of Assistant Secretary rank or
equivalent rank, and the person to whom authority to waive is delegated
must also have authority to issue the particular regulation to be
waived;
3. Not less than quarterly, the Secretary must notify the public of
all waivers of regulations that the Department has approved, by
publishing a Notice in the Federal Register. These Notices (each
covering the period since the most recent previous notification) shall:
a. Identify the project, activity, or undertaking involved;
b. Describe the nature of the provision waived, and the designation
of the provision;
c. Indicate the name and title of the person who granted the waiver
request;
d. Describe briefly the grounds for approval of the request;
e. State how additional information about a particular waiver grant
action may be obtained.
Section 106 also contains requirements applicable to waivers of HUD
handbook provisions that are not relevant to the purposes of today's
document.
Today's document follows publication of HUD's Statement of Policy
on Waiver of Regulations and Directives Issued by HUD (56 FR 16337,
April 22, 1991). This is the eighteenth Notice of its kind to be
published under Section 106. It updates HUD's waiver-grant activity
from April 1, 1995 through June 30, 1995. In approximately three
months, the Department will publish a similar Notice, providing
information about waiver-grant activity for the period from July 1,
1995 through September 30, 1995.
For ease of reference, waiver requests granted by departmental
officials authorized to granted waivers are listed in a sequence keyed
to the section number of the HUD regulation involved in the waiver
action. For example, a waiver-grant action involving exercise of
authority under 24 CFR 24.200 (involving the waiver of a provision in
Part 24) would come early in the sequence, while waivers in the Section
8 and Section 202 programs (24 CFR Chapter VIII) would be among the
last matters listed. Where more than one regulatory provision is
involved in the grant of a particular waiver request, the action is
listed under the section number of the first regulatory requirement in
Title 24 that is being waived as part of the waiver-grant action. (For
example, a waiver of both Sec. 811.105(b) and Sec. 811.107(a) would
appear sequentially in the listing under Sec. 811.105(b).) Waiver-grant
actions involving the same initial regulatory citation are in time
sequence beginning with the earliest-dated waiver grant action.
Should the Department receive additional reports of waiver actions
taken during the period covered by this report before the next report
is published, the next updated report will include these earlier
actions, as well as those that occur between July 1, 1995 through
September 30, 1995.
Accordingly, information about approved waiver requests pertaining
to regulations of the Department is provided in the Appendix that
follows this Notice.
Dated: September 26, 1995.
Henry G. Cisneros,
Secretary.
Appendix--Listing of Waivers of Regulatory Requirements Granted by
Officers of the Department of Housing and Urban Development, April 1,
1995 Through June 30, 1995
Note to Reader: The person to be contacted for additional
information about the waiver-grant items in this listing is:
Mr. James B. Mitchell, Director, Financial Services Division,
U.S. Department of Housing and Urban Development, 470 L' Enfant
Plaza East, Suite 3119, Washington, DC 20024, Phone: (202) 755-7450
x125.
1. REGULATION: 24 CFR Sections 811.106(d) and 811.107(d) of 1977
Regulations.
PROJECT/ACTIVITY: Miami Beach HA refunding of bonds issued in
1978, which financed an uninsured Section 8 assisted project:
Rebecca Towers North, HUD Project Number FL29-0009-001.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-FHA Commissioner.
DATE GRANTED: April 17, 1995.
REASONS WAIVED: The Part 811 regulations cited above prohibited
refundings and required that excess reserve balances be used for
project purposes. The issuer has requested HUD's permission to
release excess reserve balances from the 1978 Trust Indenture for
use in providing newly constructed housing for abused women and
children. Issuance of 1995 refunding bonds under Section 103 of the
Tax Code will not reduce project debt service nor generate Section 8
savings. The Housing Authority will agree to extend low-income
occupancy in this project for 10 years after expiration of the
Housing Assistance Payments Contract in January 2019.
2. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The New Castle, Indiana Housing Authority
refunding of bonds which financed a Section 8 assisted project,
Willow Glen Apartments, FHA No. 073-35349.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: April 14, 1995.
[[Page 51841]]
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on April
14, 1995. Refunding bonds have been priced to an average yield of
6.42%. The tax-exempt refunding bond issue of $1,275,000 at current
low-interest rates will save Section 8 subsidy. The Treasury also
gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 10.5% at the call date in 1995
with tax-exempt bonds at a substantially lower interest rate. The
refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.23% to 6.7%, thus
reducing FHA mortgage insurance risk. The refunding serves the
important public purposes of reducing HUD's Section 8 program costs,
improving Treasury tax revenues, (helping reduce the budget
deficit), and increasing the likelihood that projects will continue
to provide housing for low-income families after subsidies expire, a
priority HUD objective.
3. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(3),
811.114(b)(3), 811.114(d), 811.115(b).
PROJECT/ACTIVITY: Hilliard HDC of Columbus, Ohio refunding of
bonds which financed a Section 8 assisted project, the Sturbridge
Green Apartments (FHA No. 043-35260).
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: April 25, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. This refunding proposal was
approved by HUD on March 16, 1995. Refunding bonds have been priced
to an average yield of 6.35%. The tax-exempt refunding bond issue of
$1,435,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 10.4% at
the call date with tax-exempt bonds yielding 6.35%. The refunding
will also substantially reduce the FHA mortgage interest rate at
expiration of the HAP contract, from 10.7% to 6.65%, thus reducing
FHA mortgage insurance risk. The refunding serves the important
public purposes of reducing HUD's Section 8 program costs, improving
Treasury tax revenues, (helping reduce the budget deficit), and
increasing the likelihood that projects will continue to provide
housing for low-income families after subsidies expire, a priority
HUD objective.
4. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
PROJECT/ACTIVITY: Ohio Capital Corporation for Housing refunding
of bonds which financed three Section 8 assisted projects,
Miamisburg Manor, Mountaingate, and Applewood Village Apartments
(FHA Nos. 046-35520, 046-35533, and 043-35246).
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 4, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on March
21, 1995. Refunding bonds have been priced to an average yield of
6.28%. The tax-exempt refunding bond issue of $3,935,000 at current
low-interest rates will save Section 8 subsidy. The Treasury also
gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 8.5%--9.5% at the call date with
tax-exempt bonds yielding 6.28%. The refunding will also
substantially reduce the FHA mortgage interest rates at expiration
of the HAP contract, from 9.25% and 8.5% to 6.6%, thus reducing FHA
mortgage insurance risk. The refunding serves the important public
purposes of reducing HUD's Section 8 program costs, improving
Treasury tax revenues, (helping reduce the budget deficit), and
increasing the likelihood that projects will continue to provide
housing for low-income families after subsidies expire, a priority
HUD objective.
5. REGULATION: 24 CFR 811.114(d), 811.115(b), 811.117.
PROJECT/ACTIVITY: The Housing Finance Corporation of Long
Branch, New Jersey refunding of bonds which financed a Section 8
assisted uninsured project, Ocean View Towers, HUD No. NJ39-0014-
052.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 11, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions under Section 103 of the Tax Code.
This refunding proposal was approved by HUD on July 22, 1994.
Refunding bonds have been priced to an average yield of 6.32%. The
tax-exempt refunding bond issue of $5,445,000 at current low-
interest rates will save Section 8 subsidy. The Treasury also gains
long-term tax revenue benefits through replacement of outstanding
tax-exempt coupons of 7.75% at the call date in 1995 with tax-exempt
bonds at a substantially lower interest rate. The refunding serves
the important public purposes of reducing HUD's Section 8 program
costs, improving Treasury tax revenues, (helping reduce the budget
deficit), and increasing the likelihood that projects will continue
to provide housing for lower-income families after subsidies expire,
a priority HUD objective.
6. REGULATION: 24 CFR 811.106(d) and 811.107(d) of 1977
Regulations.
PROJECT/ACTIVITY: Greenville (North Carolina) HA refunding of
bonds which financed an uninsured Section 8 assisted project:
University Towers Elderly Apartments, HUD Project Number NC19-0004-
005.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-FHA Commissioner.
DATE GRANTED: May 15, 1995.
REASONS WAIVED: The Part 811 regulations cited above prohibited
refundings and required that excess reserve balances be used for
project purposes. The issuer has requested HUD permission to release
excess reserve balances from the 1979 Trust Indenture for use in
providing affordable housing for low-income families. Issuance of
1995 refunding bonds under Section 103 of the Tax Code will reduce
project debt service and generate Section 8 savings to be shared
equally by the Issuer and the U.S. Treasury pursuant to the McKinney
Act. The Housing Authority has agreed to extend low-income occupancy
in this project for 10 years after expiration of the Housing
Assistance Payments Contract.
7. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
PROJECT/ACTIVITY: Ohio Capital Corporation for Housing refunding
of bonds which financed three Section 8 assisted projects, Athens
Gardens, Sprucewood Commons, and Woodwind Apartments (FHA Nos. 043-
35266, 043-35254, and 046-35535).
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing--Federal Housing Commissioner.
DATE GRANTED: May 17, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on March
29, 1995. Refunding bonds have been priced to an
[[Page 51842]]
average yield of 6.29%. The tax-exempt refunding bond issue of
$4,625,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 10.4% at
the call date with tax-exempt bonds yielding 6.29%. The refunding
will also substantially reduce the FHA mortgage interest rates at
expiration of the HAP contract, from 10.72% to 6.62%, thus reducing
FHA mortgage insurance risk. The refunding serves the important
public purposes of reducing HUD's Section 8 program costs, improving
Treasury tax revenues, (helping reduce the budget deficit), and
increasing the likelihood that projects will continue to provide
housing for low-income families after subsidies expire, a priority
HUD objective.
8. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Ohio Capital Corporation for Housing
refunding of bonds which financed a Section 8 assisted project,
Crescent Square Apartments, FHA No. 046-35559.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 16, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. This refunding proposal was
approved by HUD on March 29, 1995. Refunding bonds have been priced
to an average yield of 6.59%. The tax-exempt refunding bond issue of
$1,170,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 11.5--12%
at the call date in 1995 with tax-exempt bonds at a substantially
lower interest rate. The refunding will also substantially reduce
the FHA mortgage interest rate at expiration of the HAP contract,
from 12% to 6.62%, thus reducing FHA mortgage insurance risk. The
refunding serves the important public purposes of reducing HUD's
Section 8 program costs, improving Treasury tax revenues, (helping
reduce the budget deficit), and increasing the likelihood that
projects will continue to provide housing for low-income families
after subsidies expire, a priority HUD objective.
9. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Boaz, Alabama Housing Authority refunding
of bonds which financed a Section 8 assisted project, Meadowood
Apartments, FHA No. 062-35346.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 18, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on May 1,
1995. Refunding bonds have been priced to an average yield of 6.60%.
The tax-exempt refunding bond issue of $1,085,000 at current low-
interest rates will save Section 8 subsidy. The Treasury also gains
long-term tax revenue benefits through replacement of outstanding
tax-exempt coupons of 11.5% at the call date in 1995 with tax-exempt
bonds at a substantially lower interest rate. The refunding will
also substantially reduce the FHA mortgage interest rate at
expiration of the HAP contract, from 11.5% to 6.97%, thus reducing
FHA mortgage insurance risk. The refunding serves the important
public purposes of reducing HUD's Section 8 program costs, improving
Treasury tax revenues, (helping reduce the budget deficit), and
increasing the likelihood that projects will continue to provide
housing for low-income families after subsidies expire, a priority
HUD objective.
10. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Smithville, Texas Housing Authority
refunding of bonds which financed a Section 8 assisted project,
Smithville Gardens Apartments, FHA No. 115-35218.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 24, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on April
25, 1995. Refunding bonds have been priced to an average yield of
6.40%. The tax-exempt refunding bond issue of $1,110,000 at current
low-interest rates will save Section 8 subsidy. The Treasury also
gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 10% at the call date in 1995 with
tax-exempt bonds at a substantially lower interest rate. The
refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.3% to 6.40%, thus
reducing FHA mortgage insurance risk. The refunding serves the
important public purposes of reducing HUD's Section 8 program costs,
improving Treasury tax revenues, (helping reduce the budget
deficit), and increasing the likelihood that projects will continue
to provide housing for low-income families after subsidies expire, a
priority HUD objective.
11. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Port Arthur, Texas Housing Authority
refunding of bonds which financed a Section 8 assisted project,
Stonegate Village Apartments, FHA No. 114-35313.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 24, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on April
25, 1995. Refunding bonds have been priced to an average yield of
6.38%. The tax-exempt refunding bond issue of $1,250,000 at current
low-interest rates will save Section 8 subsidy. The Treasury also
gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 11.5% to 12.25% at the call date
in 1995 with tax-exempt bonds at a substantially lower interest
rate. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.75%,
thus reducing FHA mortgage insurance risk. The refunding serves the
important public purposes of reducing HUD's Section 8 program costs,
improving Treasury tax revenues, (helping reduce the budget
deficit), and increasing the likelihood that projects will continue
to provide housing for low-income families after subsidies expire, a
priority HUD objective.
12. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(b)(1),
811.108(b)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The County of Palm Beach, Florida refunding of
bonds which financed a Section 8 assisted project, Boynton Terrace
Apartments, Section 8 No. FL29-0053-049.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: May 26, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for
[[Page 51843]]
original bond financing transactions and do not fit the terms of
refunding transactions. This refunding proposal was approved by HUD
on May 12, 1995. Refunding bonds have been priced to an average
yield of 8.0% as unrated due to the deficient condition of the
project. The tax-exempt refunding bond issue of $4,375,000 at
current low-interest rates will save Section 8 subsidy. The Treasury
also gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 13.35% at the call date in 1995
with tax-exempt bonds at a substantially lower interest rate. The
refunding serves the important public purposes of reducing HUD's
Section 8 program costs, improving Treasury tax revenues, (helping
reduce the budget deficit), and increasing the likelihood that
projects will continue to provide housing for low-income families
after subsidies expire, a priority HUD objective. This refunding
will provide $110,000 at closing for urgently needed project repairs
and an additional $249,000 over time for other capital improvements.
13. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Meadows (North Liberty, IN) HDC refunding
of bonds which financed a Section 8 assisted project, Meadows
Apartments, FHA No. 073-35420.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 15, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on December
21, 1994. Refunding bonds have been priced to an average yield of
6.55%. The tax-exempt refunding bond issue of $1,615,000 at current
low-interest rates will save Section 8 subsidy. The Treasury also
gains long-term tax revenue benefits through replacement of
outstanding tax-exempt coupons of 10.5% at the call date in 1995
with tax-exempt bonds at a substantially lower interest rate. The
refunding will fund project repairs and substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, thus
reducing FHA mortgage insurance risk. The refunding serves the
important public purposes of reducing HUD's Section 8 program costs,
improving Treasury tax revenues, (helping reduce the budget
deficit), and increasing the likelihood that projects will continue
to provide housing for low-income families after subsidies expire, a
priority HUD objective.
14. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The St. Louis Area HFC refunding of bonds
which financed a Section 8 assisted project, Kendelwood Apartments,
FHA No. 085-35302.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 22, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. This refunding proposal was
approved by HUD on June 15, 1995. Refunding bonds have been priced
to an average yield of 6.40%. The tax-exempt refunding bond issue of
$4,055,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 10.4% at
the call date in 1996 with tax-exempt bonds at a substantially lower
interest rate. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.6%
to 7.2%, thus reducing FHA mortgage insurance risk. The refunding
serves the important public purposes of reducing HUD's Section 8
program costs, improving Treasury tax revenues, (helping reduce the
budget deficit), and increasing the likelihood that projects will
continue to provide housing for low-income families after subsidies
expire, a priority HUD objective.
15. REGULATION: 24 CFR 811.107(a)(2), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Bossier City, Louisiana Housing Authority
refunding of bonds which financed a Section 8 assisted project,
Clover Dale Apartments, FHA No. 059-35195.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 22, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR Section 207.259(e) to call
debentures prior to maturity. This refunding proposal was approved
by HUD on May 9, 1995. Refunding bonds have been priced to an
average yield of 6.55%. The tax-exempt refunding bond issue of
$4,270,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 9\3/8\% at
the call date in 1995 with tax-exempt bonds at a substantially lower
interest rate. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 9.5%
to 6.95%, thus reducing FHA mortgage insurance risk. The refunding
serves the important public purposes of reducing HUD's Section 8
program costs, improving Treasury tax revenues, (helping reduce the
budget deficit), and increasing the likelihood that projects will
continue to provide housing for low-income families after subsidies
expire, a priority HUD objective.
16. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Ohio Capital Corporation for Housing
refunding of bonds which financed a Section 8 assisted project,
Bucyrus Estates Apartments, FHA No. 042-35326.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 23, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR Section 207.259(e) to call
debentures prior to maturity. This refunding proposal was approved
by HUD on June 8, 1995. Refunding bonds have been priced to an
average yield of 6.43%. The tax-exempt refunding bond issue of
$1,565,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 10% at the
call date in 1995 with tax-exempt bonds at a substantially lower
interest rate. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from
10.25% to 6.9%, thus reducing FHA mortgage insurance risk. The
refunding serves the important public purposes of reducing HUD's
Section 8 program costs, improving Treasury tax revenues, (helping
reduce the budget deficit), and increasing the likelihood that
projects will continue to provide housing for low-income families
after subsidies expire, a priority HUD objective.
17. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).
PROJECT/ACTIVITY: The Shreveport, Louisiana Housing Authority
refunding of bonds which financed a Section 8 assisted project,
Stone Vista Apartments, FHA No. 059-35196.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
[[Page 51844]]
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 27, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR Section 207.259(e) to call
debentures prior to maturity. This refunding proposal was approved
by HUD on May 12, 1995. Refunding bonds have been priced to an
average yield of 5.94%. The tax-exempt refunding bond issue of
$3,055,000 at current low-interest rates will save Section 8
subsidy. The Treasury also gains long-term tax revenue benefits
through replacement of outstanding tax-exempt coupons of 9.4% at the
call date in 1995 with tax-exempt bonds at a substantially lower
interest rate. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 9.5%
to 6.375%, thus reducing FHA mortgage insurance risk. The refunding
serves the important public purposes of reducing HUD's Section 8
program costs, improving Treasury tax revenues, (helping reduce the
budget deficit), and increasing the likelihood that projects will
continue to provide housing for low-income families after subsidies
expire, a priority HUD objective.
18. REGULATION: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a),
811.108(a)(1), 811.108(a)(3), 811.114(b)(3), 811.114(d), and
811.115(b).
PROJECT/ACTIVITY: The Ohio Capital Corporation for Housing
refunding of bonds which financed two Section 8 assisted projects,
Harrisburg Station Project FHA No. 043-35267 and Murray Commons
Project, FHA No. 043-35258.
NATURE OF REQUIREMENT: The Regulations set conditions under
which HUD may grant a Section 11(b) letter of exemption of
multifamily housing revenue bonds from Federal income taxation and
authorize call of debentures prior to maturity.
GRANTED BY: Nicolas P. Retsinas, Assistant Secretary for
Housing-Federal Housing Commissioner.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: The Part 811 regulations cited above were
intended for original bond financing transactions and do not fit the
terms of refunding transactions. To credit enhance refunding bonds
not fully secured by the FHA mortgage amount, HUD also agrees not to
exercise its option under 24 CFR 207.259(e) to call debentures prior
to maturity. This refunding proposal was approved by HUD on June 27,
1995. Refunding bonds have been priced to an average yield of 6.07%.
The tax-exempt refunding bond issue of $3,350,000 at current low-
interest rates will save Section 8 subsidy. The Treasury also gains
long-term tax revenue benefits through replacement of outstanding
tax-exempt coupons of 10.4% at the call date in 1995 with tax-exempt
bonds at a substantially lower interest rate. The refunding will
also substantially reduce the FHA mortgage interest rates at
expiration of the HAP contract, from 10.72% to 6.4%, thus reducing
FHA mortgage insurance risk. The refunding serves the important
public purposes of reducing HUD's Section 8 program costs, improving
Treasury tax revenues, (helping reduce the budget deficit), and
increasing the likelihood that projects will continue to provide
housing for low-income families after subsidies expire, a priority
HUD objective.
Note to Reader: The person to be contacted for additional
information about these waiver-grant items in this listing is:
Debbie Ann Wills, Field Management Officer, U.S. Department of
Housing & Urban Development, Office of Community Planning and
Development, 451 7th Street, S.W., Washington, D.C. 20410-7000,
Telephone: (202) 708-2565.
19. REGULATION: 24 CFR 92.2.
PROJECT/ACTIVITY: The City and County of Honolulu, Hawaii
requested a waiver of the definition of commitment of HOME program
funds to recognize, for one time only, the reservation of $1.2
million for the purchase of rental housing.
NATURE OF REQUIREMENT: The HOME regulation at 92.2 defines
commitment as the jurisdiction having entered into a legally binding
agreement with a recipient to use a specific amount of HOME funds to
produce affordable housing.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 26, 1995.
REASONS WAIVED: The application of section 92.2 of the HOME
regulations would create an undue hardship for the low income
plantation workers who would have to vacate their housing and thus
adversely effect the purposes of the Act.
20. REGULATION: 24 CFR 92.2.
PROJECT/ACTIVITY: The City Los Angeles, California requested a
waiver of the HOME program regulation that requires a community
development housing organization (CHDO) to have a tax exempt ruling
from the IRS. The waiver was requested for a specific non-profit
organization and it will allow the City to meet the requirement that
15 percent of its FY 1992 HOME funds be reserved for CHDOs within 24
months after being awarded.
NATURE OF REQUIREMENT: One of the HOME definitions at 92.2
defines of a community development housing organization (CHDO) as an
organization that has a tax exempt ruling from the IRS.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: May 8, 1995.
REASONS WAIVED: It was determined that the application for tax
exempt status was either not processed by the IRS or lost in
transit. It was determined that there was good cause not to take
away the HOME funds unless the organization did not receive tax
exempt status by June of 1996.
21. REGULATION: 24 CFR 92.220(a)(6)(ii).
PROJECT/ACTIVITY: The State of Indiana Housing Finance Authority
requested a waiver of the HOME program regulations at 24 CFR
92.220(a)(6)(ii) to allow as eligible forms of matching contribution
certain project specific legal, architectural and engineering fees
that are waived or foregone.
NATURE OF REQUIREMENT: The HOME regulation at 92.220 (a)(6)
provides the basis for allowing project-specific legal,
architectural and engineering labor costs that are waived or
foregone to be counted as match. However, Section 92.220(a)(6)(ii)
requires that the fees be the same as the single rate published
annually in the Federal Register.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 8, 1995.
REASONS WAIVED: The application of section 92.220(a)(6)(ii) of
the HOME regulations would create an undue hardship for the State by
limiting its ability to participate in the HOME program.
22. REGULATION: 24 CFR 92.222(b).
PROJECT/ACTIVITY: The City of St. Louis, Missouri requested that
the match reduction made because the area was declared a natural
disaster area be extended for Fiscal 1995.
NATURE OF REQUIREMENT: Under the HOME Program, each
participating jurisdiction must match its allocation of HOME Program
funds. Jurisdictions designated federal ``natural disaster areas''
are given relief from the match requirements for one year.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: May 8, 1995.
REASONS WAIVED: To relieve the jurisdiction of coming up with
matching funds that would delay the use of HOME funds in an
emergency situation.
23. REGULATION: 24 CFR 92.252(a)(2)(i).
PROJECT/ACTIVITY: The State of Arizona, on behalf of a State
HOME recipient Nogales Arizona, requested a waiver of the HOME
program regulations at 24 CFR 92.252(a)(2)(i) to permit Section 202
project rents, which exceed the low HOME rents to prevail for the
project.
NATURE OF REQUIREMENT: The regulations at 24 CFR 92.252(a)(2)(i)
state, ``to obtain the maximum monthly rent that may be charged for
a unit that is subject to this limitation, the owner or
participating jurisdiction multiplies the annual adjusted income of
the tenant family by 30 percent and divides by 12, and if
applicable, subtracts a monthly allowance for any utilities and
services to be paid by the tenant.''
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: May 8, 1995.
REASONS WAIVED: The application of section 92.252(a)(2)(i) of
the HOME regulations for the section 202 project would create an
undue hardship for the City because an elderly project would not be
developed in the jurisdiction, and thus adversely affect the
purposes of the Housing and Community Development Act.
24. REGULATION: 24 CFR 92.254(a)(4)(ii).
PROJECT/ACTIVITY: State of California, Napa County requested a
waiver of 24 CFR 92.254(a)(4)(ii) which limits the value of homes
purchased using HOME funds.
[[Page 51845]]
NATURE OF REQUIREMENT: The HOME regulations at 24 CFR
92.254(a)(4)(ii) state that for housing to qualify as affordable
housing for homeownership, its purchase price and/or after
rehabilitation value cannot exceed 95 percent of the median purchase
price for single family housing for the jurisdiction as determined
by HUD. If the jurisdiction believes the limits determined by HUD do
not accurately reflect 95 percent of the median purchase price, the
regulation provides that it may appeal the limits in accordance with
24 CFR 203.18(b).
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: The HUD Field Office presented data for single
family home sales that was determined by the Assistant Secretary to
be a reasonable and accurate representation of local market
conditions and, therefore, the HOME purchase price/value limits were
revised upward for the Napa County.
25. REGULATION: 24 CFR 291.400.
PROJECT/ACTIVITY: The Anoka County Community Action Program
requested a waiver the 24 month residency for a tenant in a single
family property leased under the single family property disposition
homeless program.
NATURE OF REQUIREMENT: The regulations at 24 CFR 291.400
prohibit a non-profit organization or a community participating in
the Single Family Property Disposition Leasing Program from
extending a lease to the same tenant for a period beyond 24 months.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 19, 1995.
REASONS WAIVED: The waiver will allow a formerly homeless family
more time to find permanent housing.
26. REGULATION: 24 CFR 511.11(a).
PROJECT/ACTIVITY: The City of Pittsburg, Kansas requested a
waiver of the Rental Rehabilitation requirement that the amount of
disbursed funds for a cancelled project be returned to the grantee's
C/MI system.
NATURE OF REQUIREMENT: The regulations at 24 CFR 511.11(a) state
that, ``if a project is terminated before completion of
rehabilitation whether, voluntarily by the grantee or otherwise, an
amount equal to the Rental Rehabilitation grant amount already
disbursed for the project shall be paid by the grantee to its C/MI
account, whether or not the grantee has already expended the grant
amount to pay for project costs''.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 20, 1995.
REASONS WAIVED: It was determined that undue hardship would have
resulted from applying Section 511.11(a) requirements to the City of
Pittsburg and adversely affect the purposes of the Rental
Rehabilitation program.
27. REGULATION: 24 CFR 511.11(g)(1).
PROJECT/ACTIVITY: The City of Miami Beach, Florida requested a
waiver of Rental Rehabilitation regulations at 24 CFR 511.11(g)(1)
to allow the City to fund needed repairs at the Blackstone
Apartments a 131-unit apartment building for the elderly.
NATURE OF REQUIREMENT: The Rental Rehabilitation regulations at
24 CFR 511.11(g)(1) prohibit the use of RRP funds for projects
receiving assistance through programs authorized by the United
States Housing Act of 1937, including Section 8 project-based
assistance.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 7, 1995.
REASONS WAIVED: The waiver was granted because the requirement
would have caused an undue hardship on the elderly residents of the
Blackstone Apartments and adversely effected the purposes of the
Housing and Community Development Act.
28. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
PROJECT/ACTIVITY: The City Nashua, New Hampshire requested a
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement
of pre-agreement costs to permit the local regional Community Action
Program agency to complete the acquisition and rehabilitation of a
property to serve as a Single Room Occupancy (SRO) facility for 40
formerly homeless women.
NATURE OF REQUIREMENT: Under the regulations a locality is
precluded from obligating CDBG funds before grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 7, 1995.
REASONS WAIVED: HUD determined that failure to grant the waiver
would cause hardship and adversely affect the purposes of the Act.
The waiver of the limitations on pre-agreement costs at 24 CFR
570.200(h) & 570.200(a)(5) will permit the City and the agency to
complete the acquisition and rehabilitation, by a non-profit
organization, of a Section 8 Mod Rehab SRO facility.
29. REGULATION: 24 CFR 570.200(h) & 570.200 (a)(5).
PROJECT/ACTIVITY: The City Miami Beach, Florida requested a
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement
of pre-agreement costs to permit the City of Miami Beach to provide
a financial contribution of $1,130,000 to the Loews/Forest City
Ratner Section 108 project.
NATURE OF REQUIREMENT: Under the regulations a locality is
precluded from obligating CDBG funds before grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 13, 1995.
REASONS WAIVED: HUD determined that failure to grant the waiver
would cause hardship and adversely affect the purposes of the Act.
The waiver of the limitations on pre-agreement costs at 24 CFR
570.200(h) & 570.200(a)(5) will permit the completion of the project
which will result in the creation of 629 jobs a majority of which
will benefit low and moderate income people.
30. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
PROJECT/ACTIVITY: The City Nashua, New Hampshire requested a
waiver of 24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement
of pre-agreement costs to permit the City to provide a financial
contribution for an acquisition activity.
NATURE OF REQUIREMENT: Under the regulations a locality is
precluded from obligating CDBG funds before grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 19, 1995.
REASONS WAIVED: HUD determined that failure to grant the waiver
would cause hardship and adversely affect the purposes of the Act.
The waiver of the limitations on pre-agreement costs at 24 CFR
570.200(h) & 570.200(a)(5) will permit the city to fund the
acquisition, by a non-profit organization, of a youth center to
serve local youth and function as a community policing outpost, with
FY 1996, FY 1997 and FY 1998 CDBG funds.
31. REGULATION: 24 CFR 570.200(h) & 570.200(a)(5).
PROJECT/ACTIVITY: The City of Springfield, Missouri requested a
waiver of 24 CFR 570.200(h) regarding reimbursement of pre-agreement
costs for two public service activities.
NATURE OF REQUIREMENT: Under the regulations a locality is
precluded from obligating CDBG funds before grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 21, 1995.
REASONS WAIVED: HUD determined that failure to grant the waiver
would cause hardship and adversely affect the purposes of the Act.
The waiver of the limitations on pre-agreement costs at 24 CFR
570.200(h) & 570.200(a)(5) will permit the reimbursement of local
funds, for the Springfield Community Center Summer Youth Program,
and the Community School Pilot Project, with FY 1995 funds.
32. REGULATION: 24 CFR 570.200(h) & 570.200 (a)(5).
PROJECT/ACTIVITY: Wayne County, Michigan requested a waiver of
24 CFR 570.200(h) & 570.200(a)(5) regarding reimbursement of pre-
agreement costs to permit the City of Trenton, Michigan to construct
water and sewer lines in a low and moderate income area in one year
in instead of over a three year period.
NATURE OF REQUIREMENT: Under the regulations a locality is
precluded from obligating CDBG funds before grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: HUD determined that failure to grant the waiver
would cause hardship and adversely affect the purposes of the Act.
The waiver of the limitations on pre-agreement costs at 24 CFR
570.200(h) & 570.200(a)(5) will permit the reimbursement of local
funds, for water and sewer improvements to a low and moderate income
area, with FY 1995 CDBG funds.
33. REGULATION: 24 CFR 572.135(c).
PROJECT/ACTIVITY: The Housing Authority of Pueblo, Colorado
requested a waiver of the HOPE 3 program regulations at
[[Page 51846]]
24 CFR 572.135(c) to extend the time available for commitment of HOPE 3
sale and resale proceeds by 12 months.
NATURE OF REQUIREMENT: The regulations at 24 CFR 572.135(c)
require that the HOPE 3 proceeds must be used for approved
activities within one year of receipt.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: April 18, 1995.
REASONS WAIVED: The regulation was waived because it was
determined there was good cause to allow the Housing Authority an
extension of time to commit HOPE 3 sale and resale proceeds.
34. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: The State of New York requested a waiver of
the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The State requested a waiver of the
expenditure limitation of ESG funds on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: May 8, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The State demonstrated that other eligible activities
will be carried out with other funds.
35. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: Hennepin County, Minnesota requested a waiver
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The County requested a waiver of the
expenditure limitation of ESG funds on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: May 8, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The County provided a letter that demonstrated that
other categories of ESG activities will be carried out locally with
other resources; therefore, it was determined that the waiver was
appropriate.
36. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: New York City, New York requested a waiver of
the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The City requested a waiver of the ESG
expenditure limitation on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 15, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The City provided a letter that demonstrated that other
categories of ESG activities will be carried out locally with other
resources; therefore, it was determined that the waiver was
appropriate.
37. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: Oklahoma City, Oklahoma requested a waiver of
the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The City requested a waiver of the ESG
expenditure limitation on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 19, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The City provided a letter that demonstrated that other
categories of ESG activities will be carried out locally with other
resources; therefore, it was determined that the waiver was
appropriate.
38. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: The City of Miami, Florida requested a waiver
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The City requested a waiver of the ESG
expenditure limitation on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 19, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The City provided a letter that demonstrated that other
categories of ESG activities will be carried out locally with other
resources; therefore, it was determined that the waiver was
appropriate.
39. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: The City of Albany, New York requested a
waiver of the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The City requested a waiver of the ESG
expenditure limitation on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 19, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The City provided a letter that demonstrated that other
categories of ESG activities will be carried out locally with other
resources; therefore, it was determined that the waiver was
appropriate.
40. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: Mt. Vernon City, New York requested a waiver
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The City requested a waiver of the ESG
expenditure limitation on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 27, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The City provided a letter that demonstrated that other
categories of ESG activities will be carried out locally with other
resources, therefore, it was determined that the waiver was
appropriate.
41. REGULATION: 24 CFR 576.21.
PROJECT/ACTIVITY: Morris County, New Jersey requested a waiver
of the Emergency Shelter Grants regulations at 24 CFR 576.21.
NATURE OF REQUIREMENT: The County requested a waiver of the
expenditure limitation of ESG funds on essential services.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: Under the Stewart B. McKinney Homeless
Assistance Act, amended by the National Affordable Housing Act the
30 cap percent cap on essential services may be waived if the
grantee ``demonstrates that the other eligible activities under the
program are already being carried out in the locality with other
resources''. The County provided a letter that demonstrated that
other categories of ESG activities will be carried out locally with
other resources, therefore, it was determined that the waiver was
appropriate.
42. REGULATION: 24 CFR 582.100(b).
PROJECT/ACTIVITY: The Provincetown Housing Authority (PHA)
requested a six month time extension to complete the rehabilitation
of a building to be used for a Shelter Plus Care homeless facility.
NATURE OF REQUIREMENT: The Shelter Plus Care Final Rule at 24
CFR 582.100(b) requires that rehabilitation of a subject property be
completed within twelve months of grant award.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: It was determined that there was good cause to
grant the waiver to complete a Shelter Plus Care project.
[[Page 51847]]
43. REGULATION: 24 CFR 583.150(b).
PROJECT/ACTIVITY: The San Francisco Housing Authority requested
a waiver to allow residents of a 73 unit Supportive Housing project
to be assisted with Section 8 project-based certificates.
NATURE OF REQUIREMENT: The regulations at 24 CFR 583.150(b)
state that HUD will not assist a facility with Transitional Housing
funds if residents of the structure receive assistance under the
United States Housing Act of 1937.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 7, 1995.
REASONS WAIVED: It was determined that the loss of 73 units and
the accompanying supportive services for the homeless would result
in a severe hardship for the targeted population, and therefore, the
waiver was granted.
44. REGULATION: 24 CFR 882.408(d)(1)&(3).
PROJECT/ACTIVITY: New York City, New York requested a waiver of
the Section 8 Moderate Rehabilitation regulations at 24 CFR
882.408(d)(1)&(3).
NATURE OF REQUIREMENT: The City requested a waiver of the
Section 8 Moderate Rehabilitation regulations at Sec. 882.408(d)(1)
which limit changes in the initial contract rent and
Sec. 882.408(d)(3) which only allows the revised contract rent to
exceed the FMR when it is determined ``in accordance with paragraph
(d)(1)'' that it is necessary to exceed the FMR.
GRANTED BY: Andrew Cuomo, Assistant Secretary for Community
Planning & Development.
DATE GRANTED: June 29, 1995.
REASONS WAIVED: The waiver was granted for good cause because
the increased rent allowed the hiring of a 24-hour security for a
SRO project for the mentally impaired in a high crime area.
Note to Reader: The person to be contacted for additional
information about the waiver-grant items in this listing is: John
Comerford, Director, Financial Management Division, Office of
Assisted Housing, Office of Public and Indian Housing, Department of
Housing and Urban Development, 451 Seventh Street, S.W., Washington,
D.C. 20410, (202) 708-1872.
45. REGULATION: 24 CFR 990.104.
PROJECT/ACTIVITY: Housing Authority of the City of Salem, OR. In
determining the operating subsidy eligibility a request was made to
exclude a source of income from the PFS calculation.
NATURE OF REQUIREMENT: The PFS regulation requires all sources
of income to be reported when calculating the subsidy eligibility.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: February 27, 1995.
REASON WAIVED: In order to benefit the Resident Council rental
fees for space on the roof of one of the highrise buildings of the
HA will not be included in the PFS subsidy eligibility calculation
and the Resident Council will be named the payee of the rental fee.
46. REGULATION: 24 CFR 990.108(e).
PROJECT/ACTIVITY: Housing Authority of the Township of
Irvington. A request was made to prevent a loss of operating subsidy
when converting 34 efficiency units to 17 one bedroom units.
NATURE OF REQUIREMENT: When unit months are lost through
combining small units into larger units they must be removed from
the calculation of unit months available in the PFS subsidy
calculation.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: February 28, 1995.
REASON WAIVED: Because of problems the HA has experienced
filling vacant efficiency units for the elderly the HA converted
them to one bedroom units which it could rent to elderly couples. In
order to support the HAs efforts to reduce vacancies, approval was
granted for the HA to include the number of unit months which would
be lost through this conversion in future PFS calculations.
47. REGULATION: 24 CFR 990.108(e).
PROJECT/ACTIVITY: Akron Metropolitan Housing Authority. A
request was made to prevent a loss of operating subsidy when
converting efficiency units to one bedroom units.
NATURE OF REQUIREMENT: When unit months are lost through
combining small units into larger units they must be removed from
the calculation of unit months available in the PFS subsidy
calculation.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: February 28, 1995.
REASON WAIVED: Because of problems the HA has experienced
filling vacant efficiency units for the elderly the HA converted
them to one bedroom units which it could rent to elderly couples. In
order to support the HAs efforts to reduce vacancies, approval was
granted for the HA to include the number of unit months which would
be lost through this conversion in future PFS calculations.
48. REGULATION: 24 CFR 990.109(b)(3)(iv).
PROJECT/ACTIVITY: Chicago Housing Authority. A request was made
to use 85% for the HA's projected occupancy percentage when
calculating its PFS operating subsidy eligibility.
NATURE OF REQUIREMENT: The regulation requires a Low Occupancy
PHA without an approved Comprehensive Occupancy Plan (COP) to use a
projected occupancy percentage of 97%.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: April 20, 1995.
REASON WAIVED: As acknowledged in the five-year Memorandum of
Agreement (MOA) between HUD and the HA the key to achieving any of
the vacancy reduction performance targets is the approval of the
waiver. In order to be supportive of the MOA the HA was authorized
to use 85% as the projected occupancy percentage with the limitation
that 60% of the additional operating subsidy funds received be used
on specific, identifiable actions to increase occupancy.
49. REGULATION: 24 CFR 990.118(d).
PROJECT/ACTIVITY: Buffalo, NY, Municipal Housing Authority. A
request was made to consider the HAs Comprehensive Occupancy Plan
terminated and to use Part VII of the Form HUD-52728-A to determine
its occupancy percentage.
NATURE OF REQUIREMENT: The PFS regulation requires a PHA to use
the Occupancy Percentage in its approved Comprehensive Occupancy
Plan.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: April 28, 1995.
REASON WAIVED: Part VII of the Form HUD-52728-A allows the HA to
reduce a 97% occupancy rate by the number of units that are in a
funded, on-schedule modernization program. The HA believes that it
would do better under these rules than under its COP which has
become outdated, therefore the duration of the COP has been waived
to allow the HA to use the newer rules.
50. REGULATION: 24 CFR 990.109(b)(3)(iv).
PROJECT/ACTIVITY: Kinsley, KS, Housing Authority. A request was
made to use the HAs actual occupancy rate of 79% and recalculate its
operating subsidy eligibility.
NATURE OF REQUIREMENT: The regulation requires a Low Occupancy
PHA without an approved Comprehensive Occupancy Plan to use a
projected occupancy percentage of 97%.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: May 15, 1995.
REASON WAIVED: The HA was allowed to use its actual occupancy
percentage to prevent undue hardships while it continues its efforts
to reduce vacancies.
51. REGULATION: 24 CFR 990.109(3)(iv).
PROJECT/ACTIVITY: Housing Authority of the City of Lafayette,
LA. A request was made to use the HAs actual occupancy rate of 87
percent for its 1995 fiscal year and 93 percent for its 1996 fiscal
year.
NATURE OF REQUIREMENT: The regulation requires a Low Occupancy
PHA without an approved Comprehensive Occupancy Plan to use a
projected occupancy percentage of 97%.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: July 13, 1995.
REASON WAIVED: The Department declared the HA in breach of the
Annual Contributions Contract and took possession of all property
and assets of the HA. In order to carry out plans to return the HA
to local control a waiver was granted to support efforts to reduce
the number of vacant units in the HA.
Note to Reader: The person to be contacted for additional
Information about the waiver-grant items in this listing is: Gary
VanBuskirk, Director, Homeownership Division, Office of Community
Relations and Involvement, Department of Housing and Urban
Development, 451 Seventh Street SW--Room 4112, Washington, DC 20410-
5000, (202) 708-4233.
52. REGULATION: 24 CFR 904 Subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
PROJECT/ACTIVITY: The Terre Haute, Indiana Housing Authority,
Turnkey III
[[Page 51848]]
Homeownership Opportunity Program Project IN-36P021006.
NATURE OF REQUIREMENT: 24 CFR 904 Subpart B and the Turnkey III
Handbook require that upon sale of a homeownership unit that the
monies received be remitted to HUD to reduce the capital
indebtedness on the project. Excess Residual Receipts and or
Operating Reserves are also to be remitted to HUD.
GRANTED BY: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing.
DATE GRANTED: April 3, 1995.
REASON WAIVED: Project debt forgiveness was authorized by the
provisions of Section 3004 of the Housing and Community Development
Reconciliation Amendments of 1985, (the Amendments) Pub. L. 99-272
(April 7, 1986) which amends Section 4 of the United States Housing
Act of 1937. The Amendments authorized the Secretary of HUD to
forgive outstanding principal and interest on loans made by the
Secretary to Public Housing Agencies (PHAs)/Indian Housing
Authorities (IHAs) and to cancel the terms of any contract with
respect to repayment.
Turnkey III debt forgiveness, as authorized above, is
implemented according to existing HUD procedures.
The housing authority has shown good cause and demonstrated
compliance with all applicable regulatory requirements for debt
forgiveness.
Note to Reader: The person to be contacted for additional
information about the waiver-grant items in this listing is:
Ms. Madeline Hastings, Office of Rental Assistance, Department
of Housing and Urban Development, 451 Seventh Street, SW; Room 4226,
Washington, DC 20410, Phone: (202) 708-1842. TDD: (202) 708-4594.
53. REGULATION: 24 CFR 882.721, 882.722 and 882.753(c).
PROJECT/ACTIVITY: Housing Authority of the City of Los Angeles,
Section 8 project-based certificate program (PBC) assistance for the
Hayward Hotel project in Los Angeles, California.
NATURE OF REQUIREMENT: Before a housing agency (HA) can select a
unit for PBC assistance and execute a PBC Agreement to Enter Into
Housing Assistance Payments Contract (AHAP), an initial inspection
of the unit must be completed and the owner must prepare
rehabilitation work write-ups. Vacant units must be filled from the
HA waiting list.
GRANTED BY: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
DATE GRANTED: April 26, 1995.
REASON WAIVED: The waiver permitting substitution of 66
rehabilitated single room occupancy (SRO) units in the Hayward Hotel
for 66 other SRO units in the project that had been brought under
PBC Agreement to Enter Into Housing Assistance Payments Contract,
was granted to prevent hardship to the occupants of those units who
had been promised Section 8 assistance. The 66 non-PBC units were
rehabilitated in the same manner as the units designated under the
Agreement and in accordance with the PBC program requirements. The
waiver of the requirement that vacant units be filled from the HA
waiting list, which applies only to occupants of the 66 substitute
units, was approved to prevent hardship to the families.
Note to Reader: The person to be contacted for additional
information about the waiver-grant items in this listing is:
Aaron Santa Anna, Assistant General Counsel, Ethics Law
Division, Department of Housing and Urban Development, 451 Seventh
Street, SW; Room 2158, Washington, DC 20410, Phone: (202) 708-3815.
TDD: (202) 708-3259.
54. REGULATION: 24 CFR 0.735-204(a)(4).
PROJECT/ACTIVITY: A request was made whether an employee was
prohibited from renting a primary residence to a relative with
Section 8 assistance.
NATURE OF REQUIREMENT: This Standards off Conduct regulation
prohibits HUD employees, with minor exceptions, from acquiring a
financial interest in Section 8 subsidies.
GRANTED BY: Nelson A. Diaz, General Counsel.
DATE GRANTED: June 15, 1995.
REASON WAIVER: Renting a primary residence to a family member is
not the type of situation covered by Sec. 0.735-204(a)(4) because
application of this provision to such a situation is not necessary
to ensure public confidence in the impartiality and objectivity with
which the Department's programs are administered. Compliance with
all of the program requirements must be present.
[FR Doc. 95-24470 Filed 10-2-95; 8:45 am]
BILLING CODE 4210-32-P
