[Federal Register Volume 64, Number 212 (Wednesday, November 3, 1999)]
[Notices]
[Pages 59785-59786]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-28690]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-4445-N-26]
Notice of Proposed Information Collection: Comment Request;
Computation of Surplus Cash Distributions and Residual Receipts and
Fund Authorizations
AGENCY: Office of the Assistant Secretary for Housing, HUD.
ACTION: Notice.
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SUMMARY: The proposed information collection requirement described
below will be submitted to the Office of Management and Budget (OMB)
for review, as required by the Paperwork Reduction Act. The Department
is soliciting public comments on the subject proposal.
DATES: Comments Due Date: January 3, 2000.
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: Wayne Eddins, Reports Management
Officer, Department of Housing and Urban Development, 451 7th Street,
SW., L'Enfant Building, Room 8202, Washington, DC 20410.
FOR FURTHER INFORMATION CONTACT: Willie Spearmon, Office of Business
Products, Office of Multifamily Housing Programs, Department of Housing
and Urban Development, 451 7th Street SW., Washington, DC 20410,
telephone (202) 708-3000 for copies of the proposed forms and other
available information.
SUPPLEMENTARY INFORMATION: The Department is submitting the proposed
information collection to OMB for review, as required by the Paperwork
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
This Notice is soliciting comments from members of the public and
affected agencies concerning the proposed collection of information to:
(1) Evaluate whether the proposed collection is necessary for the
proper performance of the functions of the agency, including whether
the information will have practical utility; (2) Evaluate the accuracy
of the agency's estimate of the burden of the proposed collection of
information; (3) Enhance the quality, utility, and clarity of the
information to be collected; and (4) Minimize the burden of the
collection of information on those who are to respond; including 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: Computation of Surplus Cash Distributions and
Residual Receipts and Funds Authorizations.
OMB Control Number, if applicable: 2502-0314.
Description of the need for the information and proposed use:
Handbook 4350.1, Rev. 1, Chapter 25, Multifamily Asset Management and
Project Servicing, applies to all non-profit and limited dividend
multifamily projects with HUD-insured and HUD-held mortgages, including
the Section 202 Program projects. Generally, all projects owned by non-
profit mortgagors and all Section 236 and 221(d)(3) projects owned by
limited distribution (LD) mortgagors as well, as Section 8 New
Construction/Substantial Rehabilitation projects subject to the 1979/80
revised Section 8 regulations, are required to establish a Residual
Receipts Account. The requirement for a Residual Receipts Account is
[[Page 59786]]
established by a Regulatory Agreement or a project-based subsidy
contract such as Section 8 Housing Assistance Payments.
HUD-93486 is used to calculate allowable distributions and any
amounts that may be due for deposit to the Residual Receipts Account.
HUD-9250 is a form used by HUD Field Offices and the Mortgagor/Managing
Agent authorizing the release of funds for Reserve for Replacements or
Residual Receipts.
Agency form numbers, if applicable: HUD-93486, HUD-9250.
Estimation of the total numbers of hours needed to prepare the
information collection including number of respondents, frequency of
response, and hours of response: The estimated number of respondents
are 23,473, frequency of responses is 1 per respondent, and the hours
of response is estimated to be 1 hour for HUD-93486 and 1 hour for HUD-
9250, totaling 46,946 annual burden hours.
Status of the proposed information collection: Reinstatement
without change.
Authority: The Paperwork Reduction Act of 1995, 44 U.S.C.,
Chapter 35, as amended.
Dated: October 28, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commission.
[FR Doc. 99-28690 Filed 11-2-99; 8:45 am]
BILLING CODE 4210-27-M
