[Federal Register Volume 60, Number 62 (Friday, March 31, 1995)]
[Rules and Regulations]
[Pages 16572-16573]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8054]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Assistant Secretary for Housing--Federal Housing
Commissioner
24 CFR Parts 246 and 266
[Docket No. R-95-1685; FR-3383-F-04]
Housing Finance Agency Risk-Sharing Program for Insured
Affordable Multifamily Project Loans: Conforming Amendment
AGENCY: Office of Assistant Secretary for Housing--Federal Housing
Commissioner, HUD.
ACTION: Final rule; Conforming Amendment.
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SUMMARY: On December 5, 1994, HUD published a final rule that finalized
the standards and procedures of the Housing Finance Agency Risk-Sharing
Program for Insured Affordable Multifamily Project Loans, first
implemented by a December 3, 1993 interim rule.
The purpose of this final rule is to make a conforming amendment to
the December 5, 1994 final rule that will reflect the assumption of
environmental review responsibilities by States and units of general
local government as provided in an interim rule published by HUD on
March 13, 1995.
DATES: May 1, 1995.
FOR FURTHER INFORMATION CONTACT:
Jane Luton, Acting Director, Policies and Procedures Division, Office
of Insured Multifamily Housing Development, Room 6116, (202) 708-2556.
Hearing- and speech-impaired persons may call (202) 708-4594. (The
above listed telephone numbers are not toll-free.)
SUPPLEMENTARY INFORMATION:
I. Background
On December 5, 1994 (59 FR 52514), HUD published a final rule that
finalized the standards and procedures of the Housing Finance Agency
Risk-Sharing Program for Insured Affordable Multifamily Project Loans,
a program that was implemented by a December 3, 1993 interim rule (58
FR 64032). The preamble to the December 5, 1994 final rule stated that
24 CFR part 266 would be amended upon publication of the changes made
to 24 CFR part 58 (See 59 FR 62517, column one).
On March 13, 1995 (60 FR 13518) HUD published an interim rule
amending 24 CFR part 58, entitled ``Environmental Review Procedures for
Recipients Assuming HUD Responsibilities.'' Section 58.1(c)(8) of the
March 13, 1995 interim rule adds the FHA Multifamily Housing Finance
Agency Risk Sharing Pilot Program under section 542(c) of the Housing
and Community Development Act of 1992 as one of the programs and
activities for which States and units of general local government are
authorized to assume responsibility of environmental review (in lieu of
HUD).
Accordingly, Sec. 266.210(b) of the December 5, 1994 final rule,
which identifies environmental reviews as a HUD-retained review
function, is amended by this final rule to be consistent with
Sec. 58.1(c)(8) of the March 13, 1995 interim rule.
II. Justification for Final Rule
In general, the Department publishes a rule for public comment
before issuing a rule for effect, in accordance with its own
regulations on rulemaking, 24 CFR part 10. However, part 10 does
provide for exceptions from that general rule where the agency finds
good cause to omit advance notice and public participation. The good
cause requirement is satisfied with prior public procedure is
``impracticable, unnecessary, or contrary to the public interest.'' (24
CFR 10.1) The Department finds that good cause exists to publish this
rule for effect without first soliciting public comment, in that prior
public procedure is unnecessary and contrary to the public interest. In
the December 5, 1994 final rule, the public was advised that this
amendment would be made to the HFA Risk Sharing rule as soon as the
changes to part 58 were made. This rule is also technical in nature,
since it makes a conforming amendment to part 266 to make it consistent
with the recently issued changes to part 58. Additionally, it is
contrary to public interest to first seek public comment before issuing
this rule for effect because it is in the interest of the HFA Risk
Sharing Program, and the participants and beneficiaries thereof, to be
able to utilize as soon as possible the amended environmental review
procedures of part 58.
[[Page 16573]]
III. Other Matters
Impact on the Environment
A Finding of No Significant Impact with respect to the environment
was made in accordance with HUD regulations at 24 CFR part 50 that
implement section 102(2)(C) of the National Environmental Policy Act of
1969, 42 U.S.C. 4332, in connection with the HFA Risk Sharing final
rule. That Finding of No Significant Impact remains applicable to this
technical confirming rule, and is available for public inspection and
copying during regular business hours (7:30 a.m. to 5:30 p.m.) in the
Office of the Rules Docket Clerk, room 10276, 451 Seventh Street, SW,
Washington, DC 20410-0500.
Federalism Impact
The General Counsel, as the Designated Official under section 6(a)
of Executive Order 12612, Federalism, has determined that the policies
contained in this rule do not have significant impact on States or
their political subdivisions since the requirements of the rule are
limited to technical amendments necessary to carry out accurately the
provisions of programs whose regulations were not amended in the
original Consolidated Plan rule.
Impact on the Family
The General Counsel, as the Designated Official under Executive
Order 12606, The Family, has determined that this rule does not have
potential for significant impact on family formation, maintenance, and
general well-being, and, thus is not subject to review under the Order
since it is only a technical, confirming rule.
Impact on Small Entities
The Secretary, in accordance with the Regulatory Flexibility Act (5
U.S.C. 605(b)), has reviewed this rule before publication and by
approving it certifies that this rule will not have a significant
impact on a substantial number of small entities, because it imposes no
new burdens on jurisdictions.
Regulatory Agenda
This rule was not listed in the Department's Semiannual Regulatory
Agenda published on November 14, 1994 (59 FR 57632, 57641), under
Executive Order 12866 and the Regulatory Flexibility Act.
List of Subjects in 24 CFR Part 266
Aged, Fair housing, Intergovernmental relations, Mortgage
insurance, Low and moderate income housing, Reporting and recordkeeping
requirements.
In accordance with the reasons set forth in the preamble, 24 CFR
part 266 is amended as follows:
PART 266--HOUSING FINANCE AGENCY RISK-SHARING PROGRAM FOR INSURED
AFFORDABLE MULTIFAMILY PROJECT LOANS
1. The authority citation for part 266 continues to read as
follows:
Authority: 12 U.S.C. 1707; 42 U.S.C. 3535(d).
2. In Sec. 266.201, paragraph (b) is revised to read as follows:
Sec. 266.210 HUD-retained review functions.
* * * * *
(b) Environmental review requirements. To determine compliance with
the requirements of the National Environmental Policy Act of 1969 and
related laws and authorities, the HUD Field Office (or other
responsible entity through such delegation as may be in effect by
regulation hereafter) will visit each project site proposed for
insurance under this part and prepare the applicable environmental
reviews as set forth in 24 CFR part 50 (or as set forth in 24 CFR part
58 for the other responsible entity). These requirements must be
completed before HUD may issue the firm approval letter.
* * * * *
Dated: March 28, 1995.
Nicolas P. Retsinas,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 95-8054 Filed 3-30-95; 8:45 am]
BILLING CODE 4210-27-M
