[Federal Register Volume 59, Number 65 (Tuesday, April 5, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8017]
[[Page Unknown]]
[Federal Register: April 5, 1994]
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Office of the Secretary
[Docket No. N-94-3038; FR-2736-N-11]
Regulatory Waiver Requests Granted
AGENCY: Office of the Secretary, HUD.
ACTION: Public notice of the granting of regulatory waivers.
-----------------------------------------------------------------------
SUMMARY: Under section 106 of the Department of Housing and Urban
Development Reform Act of 1989 (Reform Act), the Department is required
to make public all approval actions taken on waivers of regulations.
This Notice provides notification of waivers granted during the period
from March 1 to September 30, 1993.
FOR FURTHER INFORMATION CONTACT:
For general information about this Notice, contact Myra L. Ransick,
Assistant General Counsel for Regulations, room 10276, Department of
Housing and Urban Development, 451 Seventh Street, SW., Washington, DC
20410; (202) 708-3055; (TDD) (202) 708-3259. (These are not toll-free
numbers.) For information concerning a particular waiver action,
contact the person whose name and address is set out for the particular
item in the accompanying list of waiver-grant actions.
SUPPLEMENTARY INFORMATION: Section 106 of the Reform Act amended
section 7 of the Department of Housing and Urban Development Act (42
U.S.C. 3535(q)(3)) to provide:
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.
Today's document notifies the public of HUD's waiver-grant activity
from March 1 to September 30, 1993. The next Notice, which will be
published in the near future, will cover the period from October 1
through December 31, 1993.
For ease of reference, waiver requests granted by departmental
officials authorized to grant 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.
Accordingly, information about approved waiver requests pertaining
to regulations of the Department is provided in the Appendix to this
Notice.
Dated: March 24, 1994.
Henry G. Cisneros,
Secretary.
Appendix--Listing of Waivers of Regulatory Requirements Granted by
Officers of the Department of Housing and Urban Development March 1,
1993 Through September 30, 1993
Note to reader: The person to be contacted for additional
information about the waiver-grant items in this listing is: Oliver
Walker, Chief, Directives, Reports and Forms Branch, Office of
Housing, Management Division, Department of Housing and Urban
Development, 451 Seventh Street, SW., Washington, DC 20410,
Telephone: (202) 708-1694.
1. Regulation: 24 CFR 248.233(f)--Prepayment of Low Income Housing
Mortgages.
Project/Activity: Multiple projects under the control of Carabetta.
Enterprises, Inc., Managing General Partner.
Nature of Requirement: The Regulation prohibits Approvals of Plans
of Action when audit findings remain open.
Granted By: Nicolas P. Retsinas, Assistant Secretary For Housing-
Federal Housing Commissioner.
Date Granted: September 23, 1993.
Background: This is in response to William Hernandez's memorandum,
dated July 7, 1993, requesting a blanket waiver of the subject
regulation with respect to 26 Plans of Action for which Carabetta
Enterprises, Inc. (CEI) or Joseph Carabetta is the managing general
partner. The request for the waiver is required because an audit report
issued by the Regional Inspector General for Audit on March 5, 1993,
cited CEI for the improper diversion of funds from project accounts
and/or the nonpayment of section 236 Excess Income totalling
approximately $7.5 million from 40 properties, including the 26 for
which the Plans of Action have been filed. The subject regulation
prohibits approval of any Plan of Action so long as audit findings are
outstanding.
Reason Waived: The mortgagors propose to resolve the audit findings
by repaying the diverted funds out of equity proceeds distributed as
incentives pursuant to Plans of Action approved under the Emergency
Low-Income Housing Preservation Act of 1987 (ELIHPA). Your office has
also proposed a penalty in the amount of $3 million in lieu of pursuing
civil money penalties or affirmative litigation for double damages.
Further, your office proposes to collect the full amount of the
diverted funds and the penalty from the proceeds of the approved Plans
of Action in toto before the mortgagors may distribute any proceeds to
the partnerships.
This office approves the waiver request on the following
conditions.
Mortgagor Requirements
All diversions and unpaid section 236 Excess Income, plus interest
accruing at the Treasury Bill rate from the date of the audit report,
will be paid back to the project accounts or to the Department as
appropriate from equity distributed pursuant to approved Plans of
Action. All diversions must be restored and all unpaid Excess income
must be repaid prior to the mortgagor retaining any of the equity for
distribution to any of the partnerships.
CEI will agree to pay $4,010,000, which represents $5,000 per audit
violation for 802 violations. The full amount of the payment must be
remitted to the Department prior to the mortgagor retaining any equity
distribution from approved Plans of Action to any of the partnerships.
All diversions repaid to the project account may be used to meet
accounts payable to unaffiliated vendors. After all such obligations
have been discharged, the balance of the funds will be deposited into
the Reserve for Replacement escrow account with the mortgagee. The
funds may not be used to pay obligations due affiliated or identity-of-
interest vendors, capital advances made by any partnership or partner,
deposited into the Residual Receipts escrow account or to pay accrued,
unpaid distributions to any partnership.
The mortgagors will agree to apply for section 241(f) equity loans
within five (5) working days of final approval of ELIHPA Plans of
Action.
The mortgagors will agree to maintain the properties in good
physical condition for the term of the use agreement executed as a
condition for receiving incentives pursuant to an approved ELIHPA Plan
of Action.
The mortgagors will agree to submit all required reports timely.
Such reports will include monthly and quarterly reports of project
operations, accounts payable and accounts receivable as directed by
your office.
The mortgagors will agree that all books, records, files and
related documents will be available for review, inspection and audit by
the Department or its designee for the term of the ELIHPA use
agreement.
The mortgagors will agree to offer a right of first refusal of sale
on each property to the Department's designee upon payment in full of
the mortgage note at the expiration of the mortgage.
The mortgagors will agree to extend the affordability restrictions
for a period of not less than 30 years beyond the term of the original
mortgage for each project for which an ELIHPA Plan of Action is
approved.
CEI and Joseph Carabetta will voluntarily agree to be suspended
from participation in any program/projects operated by the Department
for a period of two (2) years, reviewable annually by your office upon
request of CEI or Joseph Carabetta.
Field Office Requirements
Your office will prepare a schedule of payables due the projects
and the Department, including all diversions, unpaid section 236 excess
income, accrued interest and civil money penalties. Upon approval of
each ELIHPA Plan of Action, the funding request to the Office of
Preservation and Property Disposition will include an updated copy of
this schedule showing: interest accrued since the last funding request,
proceeds of the equity loan and application of the proceeds to project
accounts, unpaid Excess Income and penalties as appropriate. This
report will be required until the entire amount of funds owed is
repaid. Funds will be applied first to diversions and interest, second
to delinquent excess income and interest, and third to penalties, until
all are paid.
Upon approval of an ELIHPA Plan of Action, your office will report
a waiver of 24 CFR 248.233(f) for the project.
The first 80% of the penalty is to be remitted to be deposited in
the Special Risk Insurance Fund. The balance (20%) of the penalty
should have separate checks issued, on a unit proportionate basis, to
tenant associations or their legal representatives, of each of the 40
projects for use as those associations see fit.
If you have any questions about the terms and conditions of this
waiver, please call Kevin East at (202) 708-2300.
2. Regulation: 24 CFR 811.105(b), 811.107(a)(2), 811.108(a)(1),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Laurel Woods Housing Finance Corporation
refunding of bonds which financed a section 8 assisted project, Laurel
Woods Apartments, FHA No. 073-35444, South Bend, Indiana.
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-
FHA Commissioner.
Date Granted: September 29, 1993.
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 refundings 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 September 2, 1993.
Refunding bonds have been priced to an average yield of 6.10%. The tax-
exempt refunding bond issue of $2,775,000 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 bonds at
an 11.75% interest rate at the call date in 1993 with tax-exempt bonds
yielding 6.10%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 11.75%
to 7.0%, 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 lower-income families after subsidies
expire, a priority HUD objective.
3. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Lexington (Tennessee) HFC refunding of bonds
which financed a section 8 assisted project: Lexington Village
Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 1, 1993.
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
February 24, 1993. Refunding bonds have been priced to an average yield
of 6.0%. 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 11% at the call date in 1993 with tax-exempt bonds
yielding 6.07%. The refunding will also substantially reduce the FHA
mortgage interest rates at expiration of the HAP contract, from 11.5%
to approximately the bond rate, 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 lower-income families after
subsidies expire, a priority HUD objective.
4. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Elkhart, Indiana HFC refunding of bonds which
financed a section 8 assisted project, Town and Country Apartments (FHA
No. 073-35454).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 18, 1993.
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 refundings 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 9, 1993. Refunding
bonds have been priced to an average yield of 6.6%. The tax-exempt
refunding bond issue of $2,605,000 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
11.75% at the call date in 1993 with tax-exempt bonds yielding 6.6%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 11.75% to close to the
bond rate, 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 lower-income families after subsidies
expire, a priority HUD objective.
5. 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: Lakeside, Indiana HDC refunding of bonds which
financed a Section 8 assisted project, Lakeside Apartments (FHA No.
073-35413).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 22, 1993.
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 refundings 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 January 19, 1993.
Refunding bonds have been priced to an average yield of 5.98%. The tax-
exempt refunding bond issue of $1,765,000 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 10.2% at the call date in 1993 with tax-exempt bonds yielding 5.98%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.48% to 7.05%, 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 lower-income families after subsidies expire, a priority
HUD objective.
6. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Salinas, California, RA refunding of bonds which
financed a section 8 assisted project, La Casas de Madera Apartments
(FHA No. 121-35759).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 25, 1993.
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 refundings 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 19, 1992.
Refunding bonds have been priced to an average yield of 6.02%. The tax-
exempt refunding bond issue of $4,865,000 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 11.75% at the call date in 1993 with tax-exempt bonds yielding
6.02%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.25%,
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 lower-income families after subsidies expire, a priority
HUD objective.
7. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Morristown (Tennessee) HDC refunding of bonds
which financed a section 8 assisted project, Lynnridge Apartments (FHA
No. 087-35120).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 29, 1993.
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 February 3, 1993.
Refunding bonds have been priced to an average yield of 6.4%. The tax-
exempt refunding bond issue of $2,670,000 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 1993 with tax-exempt bonds yielding 6.4%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.74% 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 lower-income families after subsidies expire, a priority
HUD objective.
8. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Luzerne (PA) County HFC refunding of bonds which
financed a section 8 assisted project, Freeland Elderly Project (FHA
No. 034-35167).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 30, 1993.
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 refundings 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 February 2, 1993.
Refunding bonds have been priced to an average yield of 6.26%. The tax-
exempt refunding bond issue of $1,870,000 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 1993 with tax-exempt bonds yielding 6.26%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 11.48% to 6.625%, 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 lower-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)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Hinesville (Georgia) HDC refunding of bonds which
financed an uninsured section 8 assisted project: Pineland Square
Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 31, 1993.
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 23, 1993. Refunding bonds have been priced to an average yield of
7.28%. The tax-exempt refunding bond issue of $2,740,000 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% at the call date in 1993 with tax-exempt bonds
yielding 7.28%. The refunding will also 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 lower-
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)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Birmingham HDC refunding of bonds which financed
two section 8 assisted projects in Alabama: Janmar and Fair Park
Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 28, 1993.
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 refundings 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 23, 1993.
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,015,000 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%-10.75% at the call date in 1993 with tax-exempt bonds yielding
6.22%. The refunding will also substantially reduce the FHA mortgage
interest rates at expiration of the HAP contract, from 11.5% to 7.15%,
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 lower-income families after subsidies expire, a priority
HUD objective.
11. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Savannah HA refunding of bonds which financed a
section 8 assisted project: Crossroads Villas Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 28, 1993.
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 refundings 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 6, 1993. Refunding
bonds have been priced to an average yield of 6.08%. The tax-exempt
refunding bond issue of $1,380,000 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 1992 with tax-exempt bonds yielding 6.08%.
The refunding will also substantially reduce the FHA mortgage interest
rates at expiration of the HAP contract from 11.5% to a rate close to
the refunding bond rate, 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 lower-income families after
subsidies expire, a priority HUD objective.
12. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Columbus, Georgia HDC refunding of bonds which
financed a section 8 assisted project, Moultrie Manor Apartments (FHA
No. 061-35370).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 28, 1993.
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 refundings 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, 1993.
Refunding bonds have been priced to an average yield of 6.38%. The tax-
exempt refunding bond issue of $2,200,000 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 11.49% at the call date in 1993 with tax-exempt bonds yielding
6.38%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract from 11.75% to 5.5%,
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 lower-income families after subsidies expire, a priority
HUD objective.
13. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Washoe, Nevada HFC refunding of bonds which
financed a section 8 assisted project, Washoe Mills Apartments (FHA No.
125-35088).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 29, 1993.
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 refundings 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 25, 1993.
Refunding bonds have been priced to an average yield of 6.09%. The tax-
exempt refunding bond issue of $3,440,000 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 10.2% at the call date in 1993 with tax-exempt bonds yielding 6.8%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10% to 6.8%, 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 lower-
income families after subsidies expire, a priority HUD objective.
14. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Livingston, Georgia HDC refunding of bonds which
financed a section 8 assisted project, Livingston Meadows Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 29, 1993.
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 refundings 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 23, 1993.
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,175,000 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%-10.75% at the call date in 1993 with tax-exempt bonds yielding
6.22%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.05%,
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 lower-income families after subsidies expire, a priority
HUD objective.
15. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project Activity: Greater Kentucky HAC refunding of bonds which
financed two section 8 assisted projects: Brown Proctor and California
Square II Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 29, 1993.
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 refundings 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 3, 1993. Refunding
bonds have been priced to an average yield of 6.22%. The tax-exempt
refunding bond issue of $3,150,000 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%-
11.5% at the call date in 1992 with tax-exempt bonds yielding 6.22%.
The refunding will also substantially reduce the FHA mortgage interest
rates at expiration of the HAP contract, from 12% to 6.90%, 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 lower-income families after subsidies expire, a priority
HUD objective established by Secretary Kemp.
16. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project Activity: Allegheny County RA refunding of bonds which
financed two section 8 assisted projects, Coraopolis Gardens Apartments
(FHA Number 033-35146) and Verona Gardens Apartments (FHA Number 033-
35147).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: May 4, 1993.
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 refundings 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, 1993.
Refunding bonds have been priced to an average yield of 5.92%. The tax-
exempt refunding bond issue of $3,415,000 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 1993 with tax-exempt bonds yielding 5.92%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 12% to 6.15%, 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 lower-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)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Vicksburg, Mississippi HA refunding of bonds
which financed a section 8 assisted project, New Main Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: May 11, 1993.
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 refundings 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 6, 1993. Refunding
bonds have been priced to an average yield of 6.04%. The tax-exempt
refunding bond issue of $2,205,000 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
10.25% at the call date in 1993 with tax-exempt bonds yielding 6.04%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.73% to 7.25%, 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 lower-income families after subsidies expire, a priority
HUD objective.
18. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Baytown, Texas HA refunding of bonds which
financed a section 8 assisted project, Baytown Terrace Apartments (FHA
No. 114-35350).
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: May 14, 1993.
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 refundings 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 February 18, 1993.
Refunding bonds have been priced to an average yield of 6.35%. The tax-
exempt refunding bond issue of $4,355,000 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 1993 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 12% to 6.36%, 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 lower-income families after subsidies expire, a priority
HUD objective.
19. 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: The Greater Tennessee HDC Ohio HFA refunding of
bonds which financed two section 8 assisted projects: Hendersonville
and Oakhaven Apartments.
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. Retinas, Assistant Secretary for Housing-FHA
Commissioner.
Date Granted: May 21, 1993.
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 refundings 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 19, 1993.
Refunding bonds have been priced to an average yield of 6.09%. The tax-
exempt refunding bond issue of $2,990,000 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 bonds
yielding 11.9% at the call date in 1993 with tax-exempt bonds yielding
6.08%. The refunding will also substantially reduce the FHA mortgage
interest rates at expiration of the HAP contract, from 11.2% 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 lower-income families after subsidies expire, a priority
HUD objective.
20. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),
811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Douglas-Coffee LHC (Douglas, Georgia) refunding
of bonds which financed a section 8 assisted project, Georgian Woods
Apartments (FHA No. 061-35370).
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-
FHA Commissioner.
Date Granted: May 27, 1993.
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 refundings 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 24, 1993. Refunding
bonds have been priced to an average yield of 6.08%. The tax-exempt
refunding bond issue of $1,880,000 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 1993 with tax-exempt bonds yielding 6.08%. The
refunding will also substantially reduce the FHA mortgage interest rate
at expiration of the HAP contract, from 11.77% to a rate commensurate
with the refunding bond yield, 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 lower-income families
after subsidies expire, a priority HUD objective.
21. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Memphis, Tennessee HA refunding of bonds which
financed a section 8 assisted project, Saints Courts Apartments.
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 27, 1993.
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
February 23, 1993. Refunding bonds have been priced to an average yield
of 6.05%. The tax-exempt refunding bond issue of $2,845,000 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 1993 with tax-exempt bonds
yielding 6.05%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.74%
to 5.35%, 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 lower-income families after subsidies
expire, a priority HUD objective.
22. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Memphis, Tennessee HA refunding of bonds which
financed a section 8 assisted project, Southwood Townhouses Apartments.
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 27, 1993.
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 refundings 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 2, 1993. Refunding
bonds have been priced to an average yield of 6.07%. The tax-exempt
refunding bond issue of $1,430,000 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 1993 with tax-exempt bonds yielding 6.07%. The
refunding will also substantially reduce the FHA mortgage interest rate
at expiration of the HAP contract, from 12% to 6.41%, 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 lower-
income families after subsidies expire, a priority HUD objective.
23. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),
811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Cave Spring, GA HA refunding of bonds which
financed a section 8 assisted project, Heatherwood Apartments.
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-
FHA Commissioner.
Date Granted: June 9, 1993.
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 21, 1993. Refunding
bonds have been priced to an average yield of 6.38%. The tax-exempt
refunding bond issue of $1,905,000 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
11.75% at the call date in 1993 with tax-exempt bonds yielding 6.38%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 12% to 7.50%, 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 lower-income families after subsidies expire, a priority
HUD objective.
24. 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: The HDC of Washington refunding of bonds which
financed two section 8 assisted projects in Seattle: New Central
Building and Jackson Apartments.
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-
FHA Commissioner.
Date Granted: June 16, 1993.
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 1, 1993. Refunding
bonds have been priced to an average yield of 5.95%. The tax-exempt
refunding bond issue of $1,400,000 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 bonds yielding
5.95%. The refunding will also substantially reduce the FHA mortgage
interest rates at expiration of the HAP contract, from 11.5% to 6.15%,
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 lower-income families after subsidies expire, a priority
HUD objective.
25. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Birmingham, Alabama HA refunding of bonds which
financed a section 8 assisted project, Roosevelt Manor Apartments.
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 28, 1993.
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 refundings 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 8, 1993. Refunding
bonds have been priced to an average yield of 6.10%. The refunding will
also substantially reduce the FHA mortgage interest tax-exempt
refunding bond issue of $1,210,000 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%
to 10.75% at the call date in 1993 with tax-exempt bonds yielding
6.10%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 11.78% to 6.70%,
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 lower-income families after subsidies expire, a priority
HUD objective.
26. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project Activity: Enterprise, Alabama HA refunding of bonds which
financed a section 8 assisted project, Meadowbrook Apartments.
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, 1993.
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 refundings 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 24, 1, 1993.
Refunding bonds have been priced to an average yield of 6.22%. The tax-
exempt refunding bond issue of $1,870,000 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% to 12% at the call date in 1993 with tax-exempt bonds yielding
6.22%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.8%, 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 lower-income families after subsidies expire, a priority
HUD objective.
27. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Russellville, Alabama HA refunding of bonds which
financed a section 8 assisted project, Village Square Apartments.
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: June 30, 1993.
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 2, 1993. Refunding bonds have been priced to an average yield of
6.10%. The tax-exempt refunding bond issue of $1,500,000 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 1993 with tax-exempt bonds
yielding 6.10%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 12% to
5.55%, 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 lower-income families after subsidies expire, a
priority HUD objective.
28. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),
811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: The Industrial Development Authority of the
County of Maricopa, AZ refunding of bonds which financed one Section 8
assisted project in Guadalupe (Arizona), Barrio Nuevo.
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-
FHA Commissioner.
Date Granted: June 30, 1993.
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 Sec. 207.259(e) to call debentures prior to
maturity. This refunding proposal was approved by HUD on June 11, 1993.
Refunding bonds have been priced to an average yield of 5.90%. The tax-
exempt refunding bond issue of $2,880,000 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 bonds
yielding 11.75% at the call date in 1993 with tax-exempt bonds yielding
5.90%. The refunding will also substantially reduce the FHA mortgage
interest rates at expiration of the HAP contract, from 12.00% to 6.80%,
thus reducing FHA mortgage insurance risk. Several liens placed on the
project will be substantially forgiven and through the HUD required TPA
this will become a stand-alone project to which no other liens can be
attached. 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.
29. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),
811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Allegheny County, Pennsylvania HA refunding of
bonds which financed a section 8 assisted project, Grayson Court
Apartments.
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 30, 1993.
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, 1993. Refunding bonds have been priced to an average yield of
6.04%. The tax-exempt refunding bond issue of $1,640,000 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% at the call date in 1993 with tax-exempt bonds
yielding 6.04%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract from 11.23% to
6.90%, 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 lower-income families after subsidies expire, a
priority HUD objective.
30. 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: Allegheny County, Pennsylvania HA refunding of
bonds which financed a section 8 assisted project, Swissvale
Apartments.
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 30, 1993.
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 8, 1993. Refunding bonds have been priced to an average yield of
6.0%. The tax-exempt refunding bond issue of $3,850,000 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 1993 with tax-exempt bonds
yielding 6.0%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.66%
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 lower-income families after subsidies
expire, a priority HUD objective.
31. 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: The Outer Drive HFC (instrumentality of the City
of Detroit) refunding of bonds which financed a Section 8 assisted
project, the Greenhouse Project.
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: June 30, 1993.
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
May 7, 1993. Refunding bonds have been priced to an average yield of
6.03%. The tax-exempt refunding bond issue of $7,575,000 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 1993 with tax-exempt bonds
yielding 6.03%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 11.5% to
5.25%, 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 lower-income families after subsidies expire, a
priority HUD objective.
32. 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: Vicksburg, MS HA refunding of bonds which
financed a Section 8 assisted project, Magnolia Manor Apartments.
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: July 20, 1993.
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 refundings 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 17, 1993. Refunding
bonds have been priced to an average yield of 5.84%. The tax-exempt
refunding bond issue of $2,590,000 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
9.75%-10% at the call date in 1993 with tax-exempt bonds yielding
5.84%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 10.5% to 7.10%,
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 lower-income families after subsidies expire, a priority
HUD objective.
33. 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: Dayton, Tennessee HA refunding of bonds which
financed a section 8 assisted project, Pikeville Townhouses, FHA No.
087-35146.
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: July 28, 1993.
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 refundings 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 17, 1993. Refunding
bonds have been priced to an average yield of 5.82%. The tax-exempt
refunding bond issue of $2,450,000 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%-
11.25% at the call date in 1993 with tax-exempt bonds yielding 5.82%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 11.74% 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 lower-income families after subsidies expire, a priority
HUD objective.
34. 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: Springfield, Tennessee HA refunding of bonds
which financed a section 8 assisted project, Southfield Apartments, FHA
No. 086-35189.
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: July 29, 1993.
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 refundings 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 23, 1993. Refunding
bonds have been priced to an average yield of 6.11%. The tax-exempt
refunding bond issue of $2,430,000 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 9.5%-
11% at the call date in 1993 with tax-exempt bonds yielding 6.11%. The
refunding will also substantially reduce the FHA mortgage interest rate
at expiration of the HAP contract, from 10.85% to 6.5%, 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 lower-
income families after subsidies expire, a priority HUD objective.
35. 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: Dayton, Kentucky HA refunding of bonds which
financed a section 8 assisted project, Speers Court Apartments, FHA No.
083-35566.
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: July 29, 1993.
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 15, 1993.
Refunding bonds have been priced to an average yield of 5.91%. The tax-
exempt refunding bond issue of $2,815,000 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 11.75% at the call date in 1993 with tax-exempt bonds yielding
5.91%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.25%,
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 lower-income families after subsidies expire, a priority
HUD objective.
36. 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: Cleveland, Tennessee HA refunding of bonds which
financed a section 8 assisted project, Ocoee Village Apartments, FHA
No. 087-35150.
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: July 29, 1993.
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 July 9, 1993. Refunding
bonds have been priced to an average yield of 6.13%. The tax-exempt
refunding bond issue of $1,265,000 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%-11.5% at the call date in 1993 with tax-exempt bonds yielding
6.13%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 11.57% 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 lower-income families after subsidies expire, a priority
HUD objective.
37. 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: Morristown, Tennessee HDC refunding of bonds
which financed a section 8 assisted project, McGhee Square Apartments.
Nature of Requirements: 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: August 11, 1993.
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
July 15, 1993. Refunding bonds have been priced to an average yield of
5.94%. The tax-exempt refunding bond issue of $2,700,000 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 11.24% at the call date in 1993 with tax-exempt bonds
yielding 5.94%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 11.49%
to 5.02%, 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 lower-income families after subsidies
expire, a priority HUD objective.
38. 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: Greater Arkansas, Marianna, Arkansas HAC
refunding of bonds which financed a section 8 assisted project Hickey
Apartments.
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: August 20, 1993.
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
July 6, 1993. Refunding bonds have been priced to an average yield of
5.95%. The tax-exempt refunding bond issue of $1,425,000 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 11.14% at the call date in 1993 with tax-exempt bonds
yielding 5.95%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 12.00%
to 5.32%, 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 lower-income families after subsidies
expire, a priority HUD objective.
39. 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: Cheyenne North Housing Development Corporation,
Cheyenne, Wyoming refunding of bonds which financed a section 8
assisted project, Cheyenne North Apartments.
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: August 27, 1993.
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
August 3, 1993. Refunding bonds have been priced to an average yield of
5.89%. The tax-exempt refunding bond issue of $2,160,000 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 9.88% at the call date in 1993 with tax-exempt bonds
yielding 5.89%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.125%
to 6.095%, 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 lower-income families after subsidies
expire, a priority HUD objective.
40. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),
811.114(b)(3), 811.114(d), 811.115(b).
Project/Activity: Albany, New York HA refunding of bonds which
financed a section 8 assisted project, Mansions Rehab Apartments.
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: September 21, 1993.
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, 1993. Refunding bonds were sold at an average yield of 6.50%.
The tax-exempt refunding bond issue of $1,955,000 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 11.55% at the call date in 1993 with tax-exempt bonds
yielding 6.50%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 11.75%
to 8.35%, 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, and increasing the
likelihood that projects will continue to provide housing for lower-
income families after subsidies expire, a priority HUD objective.
41. 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: Chicago, Metropolitan HDC refunding of bonds
which financed a section 8 assisted project, Academy Square Apartments,
FHA No. 071-35493.
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: September 30, 1993.
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 refundings 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 September 8, 1993.
Refunding bonds have been priced to an average yield of 5.55%. The tax-
exempt refunding bond issue of $10,675,000 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 9.25%-10.125% at the call date in 1993 with tax-exempt bonds
yielding 5.55%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.22%
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 lower-income families after subsidies
expire, a priority HUD objective.
42. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: The Northwestern Regional Housing Authority
refunding of bonds which financed a section 8 assisted project:
California Arms Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: March 22, 1993.
Reasons Waived: The part 811 regulations cited above were intended
for original bond financing transactions and do not fit the terms of a
refunding transaction in which bonds will be issued under section 103
of the Tax Code. This refunding proposal was approved by HUD on
September 21, 1992. Refunding bonds have been priced to an average
yield of 6.20%. The tax-exempt refunding bond issue of $1,095,000 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 11.2% at the call date in 1992 with
tax-exempt bonds yielding 6.20%. The refunding will also substantially
reduce the FHA mortgage interest rates at expiration of the HAP
contract, from 11.2% to 7.45%, 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 lower-income families
after subsidies expire, a priority HUD objective.
43. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: The Suffolk, Virginia RHA refunding of bonds
which financed a section 8 assisted project: Wilson Pines Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 29, 1993.
Reasons Waived: The part 811 regulations cited above were intended
for original bond financing transactions and do not fit the terms of
refunding bonds issued under section 103 of the Tax Code. This
refunding proposal was approved by HUD on March 23, 1993. Refunding
bonds have been priced to an average yield of 6.1%. The tax-exempt
refunding bond issue of $3,245,000 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 1993 with tax-exempt bonds yielding 6.1%. The
refunding will also substantially reduce the FHA mortgage interest
rates at expiration of the HAP contract, from 10.7% to 5.1%, 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 lower-income families after subsidies expire, a priority
HUD objective.
44. Regulation: 24 CFR 811.114(d), 811.115(b), 811.1172.
Project/Activity: Plainfield, New Jersey HA refunding of bonds
which financed a section 8 assisted project: Liberty Village
Apartments.
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: James E. Schoenberger, Associate General Deputy
Assistant Secretary for Housing.
Date Granted: April 29, 1993.
Reasons Waived: The part 811 regulations cited above were intended
for original bond financing transactions and do not fit the terms of
refunding bonds issued under section 103 of the Tax Code. This
refunding proposal was approved by HUD on April 23, 1993. Refunding
bonds have been priced to an average yield of 6.29%. The tax-exempt
refunding bond issue of $5,305,000 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 1993 with tax-exempt bonds yielding 6.29%. 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.
45. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.
Project/Activity: City of San Diego, California refunding of bonds
which financed a section 8 assisted project, University Canyon North
Apartments, FHA No. 129-35076.
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: July 28, 1993.
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
July 15, 1993. Refunding bonds have been priced to an average yield of
5.81%. The tax-exempt refunding bond issue of $3,490,000 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 1993 with tax-exempt bonds
yielding 5.81%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.2% to
6.2%, 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 lower-income families after subsidies expire, a
priority HUD objective.
46. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.
Project/Activity: The Newark HA refunding of bonds which financed a
section 8 assisted project: St. Mary's Villa Apartments.
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: June 10, 1993.
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
April 9, 1993. Refunding bonds have been priced to an average yield of
6.12%. The tax-exempt refunding bond issue of $17,455,000 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 11.4%-12% at the call date in 1993 with tax-exempt
bonds yielding 6.12%. The refunding will also 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 lower-income families after subsidies expire, a priority
HUD objective.
47. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: San Bernardino, California HA refunding of bonds
which financed a section 8 assisted project, Virginia Terrace
Apartments, FHA No. 143-35075.
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 Commission.
Date Granted: August 5, 1993.
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 refundings 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 February 3, 1993.
Refunding bonds have been priced to an average yield of 5.76%. The tax-
exempt refunding bond issue of $3,835,000 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%-11% at the call date in 1993 with tax-exempt bonds yielding
5.76%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 11.4% to 6.26%,
this 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 lower-income families after subsidies expire, a priority
HUD objective.
48. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: Sierra Vista, Arizona, IDA refunding of bonds
which financed a section 8 assisted project, Mountain View Apartments.
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: August 19, 1993.
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 refundings 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 July 15, 1993. Refunding
bonds have been priced to an average yield of 5.84%. The tax-exempt
refunding bond issue of $2,370,000 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%-
10.5% at the call date in 1993 with tax-exempt bonds yielding 5.84%.
The refunding will also substantially reduce the FHA mortgage interest
rate at expiration of the HAP contract, from 10.72% to 6.25%, 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 lower-income families after subsidies expire, a priority
HUD objective.
49. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: Fairfax County Department of Housing and
Community Development refunding of bonds which financed a section 8
assisted project, Burke Center Station Apartments.
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: August 27, 1993.
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 August 18, 1993.
Refunding bonds have been priced to an average yield of 5.72%. The tax-
exempt refunding bond issue of $4,470,000 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 10.27% at the call date in 1993 with tax-exempt bonds yielding
5.72%. The refunding will also substantially reduce the FHA mortgage
interest rate effectively immediately, from 10.41% to 7.05%, 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 lower-income families after subsidies expire, a priority
HUD objective.
50. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: St. Louis, Missouri IDA refunding of bonds which
financed a section 8 assisted project, Douglas Manor Apartments.
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: September 8, 1993.
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. To credit
enhance refundings 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 July 29, 1993. Refunding bonds have been priced to an average
yield of 5.83%. The tax-exempt refunding bond issue of $1,805,000 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 10.8%-12% at the call date in 1993
with tax-exempt bonds yielding 5.83%. The refunding will also
substantially reduce the FHA mortgage interest rate at expiration of
the HAP contract, from 11.51% to 6.28%, 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 lower-
income families after subsidies expire, a priority HUD objective.
51. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: Fairfax, County, Virginia RHA refunding of bonds
which financed a section 8 assisted project, Bridle Creek Apartments,
FHA No. 051-35318.
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: September 15, 1993.
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
September 2, 1993. Refunding bonds have been priced to an average yield
of 5.83%. The tax-exempt refunding bond issue of $3,175,000 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 1993 with tax-exempt bonds
yielding 5.83%. The refunding will also substantially reduce the FHA
mortgage interest rate at expiration of the HAP contract, from 10.7% to
5.85%, 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 lower-income families after subsidies expire, a
priority HUD objective.
52. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: North Dakota HFA refunding of bonds which
financed a section 8 assisted project, ``The 400'' Apartments.
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: September 23, 1993.
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 refundings 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 August 11, 1993.
Refunding bonds have been priced to an average yield of 5.75%. The tax-
exempt refunding bond issue of $1,975,000 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 12%-12.75% at the call date in 1993 with tax-exempt bonds yielding
5.75%. The refunding will also substantially reduce the FHA mortgage
interest rate at expiration of the HAP contract, from 12% to 6.45%,
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 lower-income families after subsidies expire, a priority
HUD objective.
53. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.
Project/Activity: Nashville and Davidson County, Tennessee HEFB
refunding of bonds which financed a section 8 assisted project, Hickory
Forest Apartments.
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: September 29, 1993.
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. To credit
enhance refundings 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 September 10, 1993. Refunding bonds have been priced to an
average yield of 5.59%. The tax-exempt refunding bond issue of
$2,470,000 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 9.5%-10.9% at the call
date in 1993 with tax-exempt bonds yielding 5.59%. The refunding will
also substantially reduce the FHA mortgage interest rate at expiration
of the HAP contract, from 11.06% to 5.08%, 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 lower-
income families after subsidies expire, a priority HUD objective.
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 Public
and Indian Housing, Department of Housing and Urban Development, 451
Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872,
TTD: (202) 708-0850 (These are not toll-free numbers).
54. Regulation: 24 CFR 882.103(b) and 887.201(b)(3).
Project/Activity: Deny Owner Participation in the section 8 Rental
Assistance Programs if the Owner's Property Taxes are Delinquent,
Detroit Housing Department (DHD).
Nature of Requirement: 24 CFR 882.103(b) and 887.201(b)(3) prohibit
a public housing agency (HA) from directly or indirectly reducing,
either in the provision of assistance to any family in finding a unit
or by any other action, any family's opportunity to choose among the
available units in the housing market.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
Date Granted: April 21, 1993.
Reason Waived: The Department is aware of an HA's need to weigh the
unsuitability of certain landlords against the family's ability to take
advantage of a wide range of housing choices. The supporting
documentation submitted by DHD reported that from October 1990 through
May 1992, there were only two cases where units selected by families
had owners with unpaid property taxes, and that in both cases the
owners agreed to make payment arrangements and the units were processed
for the program. The waiver was determined to be in the public interest
of the city of Detroit, and does not appear to result in any
significant reduction to the housing choices available to families.
55. Regulation: 24 CFR 882.730(a) and 882.732.
Project/Activity: Section 8 Project-Based Certificate Assistance
for 46 units of permanent housing for the homeless in Philadelphia
rehabilitated by the Committee for Dignity and Fairness for the
Homeless Housing Development, Inc. (Dignity).
Nature of Requirement: The Regulations require that an Agreement to
Enter Into Housing Assistance Payments Contract for Project-Based
Certificate Assistance must be executed prior to start of any
rehabilitation to be performed under the Agreement.
Granted by: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
Date Granted: April 16, 1993.
Reason Waived: Section 155 of the Housing and Community Development
Act of 1992, provides that the rehabilitation of 46 dwelling units in
Philadelphia for permanent housing for the homeless undertaken by
Dignity is deemed to have been conducted pursuant to an agreement with
the Secretary of Housing and Urban Development.
56. Regulation: 24 CFR 887.165(b).
Project/Activity: Homestead Housing Authority (HHA) extension of
the term of rental voucher beyond 120 days.
Nature of Requirement: Regulation limits the term of a rental
voucher to 120 days from the date of issuance.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing, PD.
Date Granted: March 15, 1993.
Reason Waived: Additional search time is necessary for families
issued rental vouchers by the HHA because of the severe shortage of
decent, safe and sanitary housing in Dade County as a result of
Hurricane Andrew. This waiver was granted only for the special disaster
rental vouchers provided by the Dire Emergency Supplemental
Appropriations Act of 1992. This waiver enables the Homestead Housing
Authority to extend the term for the special disaster rental vouchers
for an additional 120 days or a total term of 240 days.
57. Regulation: 24 CFR 887.165(b).
Project/Activity: Hialeah Housing Authority (HHA) extension of the
term of rental voucher beyond 120 days.
Nature of Requirement: Regulation limits the term of a rental
voucher to 120 days from the date of issuance.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing, PD.
Date Granted: March 15, 1993.
Reason Waived: Additional search time is necessary for families
issued rental vouchers by the HHA because of the severe shortage of
decent, safe and sanitary housing in Dade County as a result of
Hurricane Andrew. This waiver was granted only for the special disaster
rental vouchers provided by the Dire Emergency Supplemental
Appropriations Act of 1992. This waiver enables the Hialeah Housing
Authority to extend the term for the special disaster rental vouchers
for an additional 120 days or a total term of 240 days.
Note To Reader: The person to be contacted for additional
information about the waiver grant items in this listing is: Mr.
Edward Moses, Director, Office of Resident Initiatives, Department
of Housing and Urban Development, 451 Seventh Street SW, Room 4116,
Washington, DC 20410, (202) 619-8201 (This is not a toll-free
number).
58. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: Philadelphia, Pennsylvania Housing Authority,
Turnkey III Homeownership Opportunity Programs Project(s) Whitman Park
(PA 2-51) and Brown St. Village (PA 2-96).
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: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing, PD.
Date Granted: June 4, 1993.
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), Public Law 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.
59. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: The Butler Metropolitan Housing Authority,
Hamilton, Ohio, Turnkey III Homeownership Opportunity Programs Projects
OH 15-06 and OH 15-11.
Nature of Requirement: 24 CFR part 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, P.
Date Granted: June 11, 1993.
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), Public Law 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.
60. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: The Nashua, New Hampshire Housing Authority,
Turnkey III Homeownership Opportunity Programs Project NH 36-P002-008.
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, P.
Date Granted: June 16, 1993.
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), Public Law 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.
61. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: Charlotte, North Carolina Housing Authority,
Turnkey III Homeownership Opportunity Programs Projects NC 3-13, NC 3-
14 and NC 3-15.
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 a HUD.
Granted By: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing, P.
Date Granted: June 17, 1993.
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), Public Law 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.
62. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: Jefferson County, Kentucky Housing Authority,
Turnkey III Homeownership Opportunity Programs Project KY 36-105-002.
Nature of Requirement: 24 CFR Part 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 a HUD.
Granted By: Joseph Shuldiner, Assistant Secretary for Public and
Indian Housing, P.
Date Granted: June 25, 1993.
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) Public Law 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.
63. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership
Opportunity Program) and Corresponding Provisions of the Turnkey III
Handbook (7495.3).
Project/Activity: Knoxville, Tennessee Community Development
Corporation, Turnkey III Homeownership Opportunity Programs Projects
TN37P003015 and TN37P003016.
Nature of Requirement: 24 CFR Part 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, P.
Date Granted: August 13, 1993.
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) Public Law 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 waiver-grant item numbers in this listing is: Mr.
Dom Nessi, Director, Office of Indian Housing, Department of Housing
and Urban Development, 451 Seventh Street, SW, Washington, DC 20410,
Phone: (202) 708-1015, TDD: (202) 708-0850 (These are not toll-free
numbers).
64. Regulation: 24 CFR 905.325.
Project/Activity: Establishment of ceiling rents for Lac Vieux
Desert Chippewa Housing Authority.
Nature of the Requirement: Waiver of the Regulation cited above is
required to allow establishment of ceiling rents for their Rental
Program.
Granted By: Michael B. Janis, General Deputy Assistant Secretary,
PD.
Date Granted: March 2, 1993.
Reason Waived: This waiver was requested and granted to allow the
Lac Vieux Desert Chippewa Housing Authority to establish ceiling rents
for their rental program in accordance with PIH Notice 89-21, which
provides for the establishment of ceiling rents in a rental Indian
housing program.
65. Regulation: 24 CFR 905.325.
Project/Activity: Establishment of ceiling rents for Bad River
Housing Authority.
Nature of the Requirement: Waiver of the Regulation cited above is
required to allow establishment of ceiling rents for their Rental
Program.
Granted By: Michael B. Janis, General Deputy Assistant Secretary,
PD.
Date Granted: March 26, 1993.
Reason Waived: This waiver was requested and granted to allow the
Bad River Housing Authority to establish ceiling rents for their rental
program in accordance with PIH Notice 89-21, which provides for the
establishment of ceiling rents in a rental Indian housing program.
66. Regulation: 24 CFR 905.325.
Project/Activity: Establishment of ceiling rents for Fort Berthold
Housing Authority.
Nature of the Requirement: Waiver of the Regulation cited above is
required to allow establishment of ceiling rents for their Rental
Program.
Granted By: Michael B. Janis, General Deputy Assistant Secretary,
PD.
Date Granted: April 8, 1993.
Reason Waived: This waiver was requested and granted to allow the
Fort Berthold Housing Authority to establish ceiling rents for their
rental program in accordance with PIH Notice 89-21, which provides for
the establishment of ceiling rents in a rental Indian housing program.
67. Regulation: 24 CFR 905.730 (c)(F)(3).
Project/Activity: Extension of the deadline date to Submit Request
for Recalculation of Allowable Expense Level.
Nature of the Requirement: Waiver of the Regulation cited above is
required to allow recalculation of the Allowable Expense Level.
Granted By: Joseph Shuldiner, Assistant Secretary, P.
Date Granted: September 27, 1993.
Reason Waived: This waiver was requested and granted to allow the
Red Cliff Chippewa Housing Authority an extension of the deadline to
submit a request for an adjustment of their Allowable Expense Level.
68. Regulation: 24 CFR 905.730(c)(F)(3)
Project/Activity: Extension of the deadline date to Submit Request
for Recalculation of Allowable Expense Level.
Nature of the Requirement: Waiver of the Regulation cited above is
required to allow recalculation of the Allowable Expense Level.
Granted By: Joseph Shuldiner, Assistant Secretary, P.
Date Granted: September 28, 1993.
Reason Waived: This waiver was requested and granted to allow the
Lac Courte Oreilles Indian Housing Authority an extension of the
deadline to submit a request for an adjustment of their Allowable
Expense Level.
Note to Reader: The person to be contacted for additional
information about the waiver-grant items numbered in this listing
is: Janice D. Rattley, Director, Office of Construction,
Rehabilitation and Maintenance, Office of Public and Indian Housing,
Department of Housing and Urban Development, 451 Seventh Street,
SW., Washington, DC 20410, Phone: (202) 708-1800. (These are not
toll-free numbers.)
69. Regulation: 24 CFR 941.102(b).
Project/Activity: Public Housing Development, Project Number MO 37-
6, West Plains Housing Authority (WPHA).
Nature of Requirement: Requires a turnkey developer to submit a
proposal for a specified number of units on a site or property owned or
to be purchased by the developer.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
Date Granted: May 28, 1993.
Reason Waived: To allow the WPHA to permit the developer to change
one of the original sites to a new site and enlarge one site to
accommodate a second unit.
70. Regulation: 24 CFR 965.805(a).
Project/Activity: Installation of Smoke Detectors in Public Housing
Units.
Nature of Requirement: Public housing agencies are required to have
either a hard-wired or battery-powered smoke detector installed on each
level of all public housing units by October 30, 1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
Date Granted: December 24, 1992.
Reason Waived: In Atlanta, Georgia local law prohibits the use of
battery-operated smoke detectors and the Atlanta Housing Authority
(AHA) will have to contract for the installation of over 8,000 hard-
wired smoke detectors. The regulations were waived to extend the
October 30, 1992, deadline for installing smoke detectors on each level
of every unit to October 31, 1993, to allow additional time for the AHA
to install hard-wired smoke detectors required by local law.
71. Regulation: 24 CFR 968.240(c).
Project/Activity: Public Housing Modernization--Contracting for
Lead-Based Paint (LBP) Testing.
Nature of Requirement: The regulation at 24 CFR 968.240(c),
requires PHAs to use the sealed bid method for contracts in excess of
$25,000 in accordance with 24 CFR 85.36(d)(2) for LBP Testing.
Granted By: Michael B. Janis, General Deputy Assistant Secretary
for Public and Indian Housing.
Date Granted: January 19, 1993.
Reason Waived: Housing and Urban Development (HUD), LBP Guidelines
recommend use of competitive proposals. However, HUD CIAP Regulations
only permit sealed bid methods. New York City Housing Authority
prepared solicitations based on competitive proposals and the HUD
office inadvertently approved. New York City's request for waiver was
granted because of HUD's error and administrative inconvenience of
revising solicitation documents within required time frames.
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 Public
and Indian Housing, Department of Housing and Urban Development, 451
Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872,
TDD: (202) 708-0850 (These are not toll-free numbers)
72. Regulation: 24 CFR 990.104.
Project/Activity: Yoakum Housing Authority, TX. In determining the
operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 7, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
73. Regulation: 24 CFR 990.104.
Project/Activity: Taft Housing Authority, TX. In determining the
operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 7, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
74. Regulation: 24 CFR 990.104.
Project/Activity: Schulenburg Housing Authority, TX. In determining
the operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 7, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
75. Regulation: 24 CFR 990.104.
Project/Activity: Ingleside Housing Authority, TX. In determining
the operating subsidy eligibility, a request was made to implement the
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 7, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
76. Regulation: 24 CFR 990.104.
Project/Activity: Northwest Florida Regional Housing Authority. In
determining the operating subsidy eligibility, a request was made to
implement the adjustment to the Allowable Expense Level one year early,
to be effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 7, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
77. Regulation: 24 CFR 990.104.
Project/Activity: Hartwell Housing Authority, GA. In determining
the operating subsidy eligibility, a request was made for funding for
one unit approved for non-dwelling use to promote an anti-drug program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: May 27, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
78. Regulation: 24 CFR 990.104.
Project/Activity: Fitchburg Housing Authority, MA. In determining
the operating subsidy eligibility, a request was made to implement the
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 8, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
79. Regulation: 24 CFR 990.104.
Project/Activity: Newton Housing Authority, MA. In determining the
operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 8, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
80. Regulation: 24 CFR 990.104.
Project/Activity: Webster Housing Authority, MA. In determining the
operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 8, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
81. Regulation: 24 CFR 990.104.
Project/Activity: Weymouth Housing Authority, MA. In determining
the operating subsidy eligibility, a request was made to implement an
adjustment to the Allowable Expense Level one year early, to be
effective for the fiscal year beginning January 1, 1992.
Nature of Requirement: The delay in publication of the Final Rule
for PFS Allowable Expense Level appeals has resulted in a rule that is
effective for Housing Authority (HA) fiscal years beginning April 1,
1992.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 8, 1993.
Reason Waived: This waiver was granted in order to allow equal
treatment of all HAs in Federal Fiscal Year 1992, by allowing an
adjustment for HAs with Fiscal Years beginning January 1, 1992.
82. Regulation: 24 CFR 990.104.
Project/Activity: Lometa Housing Commission, TX. In determining the
operating subsidy eligibility, a request was made to extend the
deadline for submission of a request for an adjustment to the Allowable
Expense Level.
Nature of Requirement: The Final Rule for PFS Allowable Expense
Level appeals imposed a sixty day deadline on submission of requests
for adjustment.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 11, 1993.
Reason Waived: The Housing Agency has had three executive directors
during the past year. The fee accountant had prepared a timely request
for an adjustment, but the Housing Agency failed to submit it to the
Department.
83. Regulation: 24 CFR 990.104.
Project/Activity: Charleston Housing Authority, WV. In determining
the operating subsidy eligibility, a request was made for funding for
eight units approved for non-dwelling use to promote an anti-drug
program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 11, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
84. Regulation: 24 CFR 990.104.
Project/Activity: Danville Housing Authority, KY. In determining
the operating subsidy eligibility, a request was made for funding for
one unit approved for non-dwelling use to promote an anti-drug program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 16, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
85. Regulation: 24 CFR 990.104.
Project/Activity: Tampa Housing Authority, FL. In determining the
operating subsidy eligibility, a request was made for funding for
eleven units approved for non-dwelling use to promote an economic self-
sufficiency program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 16, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
86. Regulation: 24 CFR 990.104.
Project/Activity: North Charleston Housing Authority, SC. In
determining the operating subsidy eligibility, a request was made for
funding for six units approved for non-dwelling use to promote an
economic self-sufficiency (headstart) program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 16, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
87. Regulation: 24 CFR 990.104.
Project/Activity: Mower County Housing and Redevelopment Authority,
MN. In determining the operating subsidy eligibility, a request was
made to extend the deadline for submission of a request for adjustment
to the Allowable Expense Level.
Nature of Requirement: The Final Rule for PFS Allowable Expense
Level appeals imposed a sixty day deadline on submission of requests
for adjustment.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: June 17, 1993.
Reason Waived: The Housing Agency had misunderstood the deadline.
This waiver was granted based on the Housing Agency's eligibility for
an adjustment and its low reserve level.
88. Regulation: 24 CFR 990.104.
Project/Activity: Anderson Housing Authority, SC. In determining
the operating subsidy eligibility, a request was made for funding for
one unit approved for non-dwelling use to promote an anti-drug program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: July 15, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
89. Regulation: 24 CFR 990.104.
Project/Activity: Cookeville Housing Authority, TN. In determining
the operating subsidy eligibility, a request was made for funding for
one unit approved for non-dwelling use to promote an economic self-
sufficiency and anti-drug program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 6, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
90. Regulation: 24 CFR 990.104.
Project/Activity: Key West Housing Authority, FL. In determining
the operating subsidy eligibility, a request was made for funding for
five units approved for non-dwelling use to promote an anti-drug
program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 20, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
91. Regulation: 24 CFR 990.104.
Project/Activity: Savannah Housing Authority, GA. In determining
the operating subsidy eligibility, a request was made for funding for
five units approved for non-dwelling use to promote an anti-drug
program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: September 8, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
92. Regulation: 24 CFR 990.104.
Project/Activity: Tennessee Valley Regional Housing Authority, MS.
In determining the operating subsidy eligibility, a request was made
for funding for ten units approved for non-dwelling use to promote an
economic self-sufficiency program (youth sports, training, adult
education, etc.).
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: September 9, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
93. Regulation: 24 CFR 990.104.
Project/Activity: Phenix City Housing Authority, AL. In determining
the operating subsidy eligibility, a request was made for funding for
one unit approved for non-dwelling use to promote an economic self-
sufficiency and anti-drug program.
Nature of Requirement: The operating subsidy calculation excludes
funding for units removed from the dwelling rental inventory.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: September 9, 1993.
Reason Waived: To allow additional subsidy for units approved for
non-dwelling use to promote economic self-sufficiency services and
anti-drug programs pending publication of a final rule implementing
this change to the regulation.
94. Regulation: 24 CFR 990.110(c)
Project/Activity: Chicago Housing Authority, IL. In determining the
operating subsidy eligibility a request was made to permit the Housing
Agency (HA) to retain 50% of savings realized through the wellhead
purchase of natural gas for the period October 1, 1990, through
December 31, 1991.
Nature of Requirement: Section 114(c) of the Housing and Community
Development Act of 1992 extends, from one year to six years, the period
during which a HA can retain a portion of the savings resulting from
the HA's action to secure a reduction in utility rates.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: February 4, 1993.
Reason Waived: This waiver was granted in order to comply with
Congressional intent pending publication of a final rule implementing
this change. Based on the provisions of the Act, the authorization was
granted to permit the HA to retain 50% of annual savings realized from
the wellhead purchase of natural gas for the full time allowed by the
Act.
95. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: In determining the operating subsidy eligibility
for the Gilbert, MN Housing and Redevelopment Authority, a request was
made for an extension of a previous waiver to permit the Housing Agency
(HA) to use its actual occupancy rate of 88% as its projected occupancy
percentage.
Nature of Requirement: The regulation requires a Low Occupancy HA
without an approved Comprehensive Occupancy Plan (COP) to use a
projected occupancy percentage of 97%.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 19, 1993.
Reasons Waived: The HA is a small agency with 49 units of elderly
housing. It has been hampered in its efforts to reduce vacancies by
local economic dislocations and loss of population. HA was allowed to
use a goal of 82% for its fiscal year ending in 1992. Since the time of
the last waiver, the HA has made progress in reducing its vacancies
from nine to six units. Further reductions may be expected if the HA's
application for CIAP funds are approved and some of the vacant units
are reconfigured into larger units and/or converted into nondwelling
use. Because of the progress made, the HA was permitted to use 88% as
its projected occupancy percentage for its fiscal year ending 6/30/93.
96. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: In determining the operating subsidy eligibility
for the Atlanta Housing Authority, TX, a request was made to use 94% as
the projected occupancy percentage instead of 97%.
Nature of Requirement: The regulation requires a Housing Agency
(HA) which does not reach an occupancy percentage of 97% at the end of
its Comprehensive Occupancy Plan (COP) to use a projected occupancy
percentage of 97%.
Granted By: Michael B. Janis, General Deputy Assistant Secretary.
Date Granted: April 28, 1993.
Reasons Waived: The goal of the COP was to achieve a vacancy level
of five or fewer vacant units, which for this 80 unit HA corresponded
to a 94% level. The HA and Ft. Worth Office did not realize until
recently that the Department had recognized that the use of 97% in this
type of situation created an inequity. Failure to achieve an acceptable
goal of 94% should not result in the imposition of an even higher
occupancy level of 97% on the HA. A waiver was granted to allow the use
of 94% as the projected occupancy percentage in order to correct this
inequitable situation.
97. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: A request was made by the Newark, NJ Housing
Authority to have the Department approve a 12-year Comprehensive
Occupancy Plan (COP).
Nature of Requirement: Current regulations require a Low Occupancy
PHA to submit a COP when first eligible in order to use an occupancy
percentage of less than 97% in the determination of operating subsidy
eligibility. A Low Occupancy PHA without an approved COP must use a
projected occupancy percentage of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: July 22, 1993.
Reasons Waived: The Newark Housing Authority (NHA) did not submit
an approvable COP when it was first eligible to do so for its fiscal
year beginning 4/1/87. Instead, with the Department's approval, NHA has
used a series of Memorandums of Agreement (MOAs) that included an
occupancy goal to be used in determining its operating subsidy
eligibility. In March 1993, the NHA requested approval of a 12-year
COP.
Based on experience gained from Public Housing Agencies (PHAs)
implementing the vacancy rule, the Department found that large PHAs
designated as ``troubled authorities'', such as NHA, had vacancy
problems of such a magnitude and complexity that long-term planning was
very difficult. Plans that were approved for such PHAs quickly became
obsolete and much time and effort were spent justifying changes to
occupancy goals.
Since the Department continues to believe that it is very difficult
for large troubled PHAs to adhere to a long term plan with fixed
occupancy goals, the request for a waiver that would result in the
approval of a 12-year COP was not approved. Instead, good cause was
found to waive the subject regulation and allow the NHA to use an
occupancy goal of 72% for its 1993 fiscal year and 78% for its 1994
fiscal year. Conditions were also placed on how the additional
operating subsidy generated as a result of the waiver could be used.
98. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: A request was made by the Clarkson, NE Housing
Authority to use its actual occupancy rate of 60% in determining its
operating subsidy eligibility for its fiscal year ending (FYE) 3/31/93
and to use a projected occupancy rate of 60% for its FYE 3/31/94.
Nature of Requirement: A public housing agency (PHA) that has
completed a Comprehensive Occupancy Plan (COP) without achieving a 97%
occupancy percentage or having an average of five or fewer vacant units
must use a projected occupancy rate of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 5, 1993.
Reason Waived: The Clarkson Housing Authority is a small PHA of 30
units, primarily elderly. There has been a significant decline in the
town's population according to census data, as well as loss of
businesses and medical staff during the past two years. Because the
documented lack of demand was basically beyond the control of the
Authority, the PHA was allowed to use 60% for both the requested years.
99. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: A request was made by the Jetmore, KS Housing
Authority to have a three-year Comprehensive Occupancy Plan (COP)
approved for its fiscal year (FYs) 1993-1995. The Authority had
completed a COP in its 1992 FY without achieving the goal of having
five or fewer vacant units.
Nature of Requirement: A public housing agency (PHA) that has
completed a Comprehensive Occupancy Plan (COP) without achieving a 97%
occupancy percentage or having an average of five or fewer vacant units
must use a projected occupancy rate of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 5, 1993.
Reason Waived: The Jetmore Housing Authority is a small PHA of 20
units, primarily elderly. The Authority had undertaken several steps to
increase demand for its units but met with only limited success.
Because the documented lack of demand was basically beyond the control
of the Authority, the PHA was allowed to use 75% for both its 1993 and
1994 FYs. The request for a new COP was not approved.
100. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: A request was made by the Red Cloud, NE Housing
Authority to use its actual occupancy rate of 69% in determining its
operating subsidy eligibility for its fiscal year ending (FYE) 6/30/93
and to use a projected occupancy rate of 69% for its FYE 3/31/94.
Nature of Requirement: A public housing agency (PHA) that has
completed a Comprehensive Occupancy Plan (COP) without achieving a 97%
occupancy percentage or having an average of five or fewer vacant units
must use a projected occupancy rate of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 5, 1993.
Reason Waived: The Red Cloud Housing Authority is a small PHA of 55
units, primarily elderly. In spite of outreach activities to inform the
community about the availability of housing assistance and the granting
of a waiver to admit income-eligible, non-elderly, the waiting list is
non-existent. Because the documented lack of demand was basically
beyond the control of the Authority, the PHA was allowed to use 69% for
both the requested years.
101. Regulation: 24 CFR 990.109(b)(3)(iv).
Project/Activity: A request was made by the Olney, TX Housing
Authority to use its actual occupancy rate of 68% in determining its
operating subsidy eligibility for its fiscal year ending P9/30/94.
Nature of Requirement: A public housing agency (PHA) that has
completed a Comprehensive Occupancy Plan (COP) without achieving a 97%
occupancy percentage or having an average of five or fewer vacant units
must use a projected occupancy rate of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: August 5, 1993.
Reason Waived: The Olney Housing Authority is a relatively small
PHA of 190 units. It is located in a rural town with a declining
population and poor economy. Extensive efforts to increase occupancy
through modernization of the units and outreach activities during the
past several years have not met with success. Because the documented
lack of demand was basically beyond the control of the Authority, the
PHA was allowed to use 68%.
102. Regulation: 24 CFR 990.109(b) (3) (iv).
Project/Activity: A request was made by the Chicago, IL Housing
Authority to use an occupancy rate of 85% in determining its operating
subsidy eligibility for both its fiscal year ending (FYE) 12/31/93 and
its FYE 12/31/94.
Nature of Requirement: A Low Occupancy Public Housing Agency (PHA)
without an approved Comprehensive Occupancy Plan (COP) must use a
projected occupancy rate of 97%.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: September 13, 1993.
Reason Waived: The Chicago Housing Authority argued that the
magnitude of its safety and security needs is so great, it requires the
Authority to redirect resources from other priority initiatives such as
vacancy reduction to fund safety and security measures. This
redirection of resources was expected to continue for at least the two
year period of the waiver request.
A five-year Memorandum of Agreement (MOA) has been executed earlier
between the Regional Office and the Authority which contained
performance targets in the area of vacancy reduction. In order not to
jeopardize the agreements that had been reached, a waiver was granted
for the Authority's 1993 fiscal year (FY). Conditions were also placed
on how the additional operating subsidy generated as a result of the
waiver could be used. These included having at least 60% of the
additional funds be used specific, identifiable actions to increase
occupancy which would leave 40% of the additional funds available for
security measures. A waiver for the Authority's FY 1994 will not be
considered until a review of actual accomplishments in FY 1993 can be
made and compared with the actual goals.
103. Regulation: 24 CFR 990.118(h).
Project/Activity: A request was made by the Albany, NY Housing
Authority to use an occupancy rate of 95% instead of the 97% goal of
its Comprehensive Occupancy Plan (COP) in determining its operating
subsidy eligibility for its fiscal year ending (FYE) 6/30/94.
Nature of Requirement: A Public Housing Agency (PHA) with an
approved COP must use the projected occupancy rates of the COP.
Granted By: Joseph Shuldiner, Assistant Secretary.
Date Granted: September 14, 1993.
Reason Waived: The Albany Housing Authority presented material to
show that modernization activity at one development was taking longer
than projected in the COP but that the work was considered to be on-
schedule by the Buffalo Office. Additional units at another development
were also being considered for possible deprogramming actions that had
not been contemplated in the COP.
The Department agreed with the Authority that there were
unanticipated vacancies because of the on-schedule modernization work
and found good cause to adjust the COP occupancy goal to 96%. The
request to make an adjustment for additional vacant units prior to the
completion of a feasibility study on deprogramming was not approved.
Office of Fair Housing and Equal Opportunity
Note To Reader: The person to be contacted for additional
information about the waiver grant items in this listing is: Mr.
Caldwell Jackson, Director, Management Planning Division, Office of
Fair Housing and Equal Opportunity, Department of Housing and Urban
Development, 451 Seventh Street, SW., Room 5108, Washington, DC
20410, (202) 708-3990 (This is not a toll-free number).
104. Regulation: 24 CFR parts 12 and 111.
Project/Activity: Accountability in Provision of HUD's Fair Housing
Assistance Program (FHAP).
Granted by: Henry G. Cisneros, Secretary.
Date Granted: June 2, 1993.
Reason Waived: A NOFA was not used to announce the availability of
funds under FHAP. A waiver was needed on this case because FHAP is
incorrectly listed in section 12.10 as a competitive program, and thus
subject to the requirement that a notice of funding availability must
be published in the Federal Register when funds are available under the
program. The Secretary also waived 24 CFR part 111 which requires a
NOFA to be published.
Note to Reader: The person to be contacted for additional
information about the waiver grant items in this listing is: Mr.
Anthony P. Devito, Field Coordination Officer, U.S. Department of
Housing and Urban Development Office of Community Planning and
Development, 451 7th Street, SW., Washington, DC 20410-7000,
Telephone: (202) 708-2565 (This is not a toll-free number).
105. Regulation: 24 CFR 91.70(a) and 91.82(b).
Project/Activity: City of Woonsocket, Rhode Island and City of New
Bedford, Massachusetts. Waiver of the submission deadlines of the FY
1993 Comprehensive Housing Affordability Strategy (CHAS) and the FY
1992 CHAS Annual Performance Report. City of East Providence, Rhode
Island. Waiver of the FY 1992 CHAS Annual Performance Report deadline.
Nature of Requirement: Subpart G. Section 91.70(a) of the CHAS
final rule provides that a housing strategy must be submitted annually
between October 1 and December 31, with December 31 being the deadline
for submission. Subpart H, Section 91.82(b) of the CHAS final rule
requires that Performance Reports for the fiscal year just ended be
submitted to HUD no later than December 31.
Granted By: Don I. Patch, Acting Deputy Assistant Secretary for
Grant Programs, CG.
Date Granted: March 4, 1993.
Reasons Waived: Waivers were granted for good cause. Each city
requested an extension to the date of submission for their CHAS Annual
Plan and/or Performance Report. Otherwise, they would lose FY 1993
funding for all programs that require an approved housing strategy as a
condition for funding. Undue hardship would result if HUD applied
authorized sanctions and suspended funding of existing programs in
these communities. Such action would deprive low and moderate income
persons of the benefits of HUD-funded programs. Woonsocket was granted
an 8 day extention for the CHAS and the Performance Report since the
Mayor was unavailable to sign the documents by the deadline. New
Bedford was granted an 8 day extension for the CHAS and a 67 day
extension for the Performance Report. East Providence was granted a 64
day extension for the Performance Report submission. Both cities report
the need for the waivers was due to their oversights or incomplete
understanding of the HUD requirements.
106. Regulation: 24 CFR 92.150(a).
Project/Activity: City of West Palm Beach, Florida. Waiver of the
deadline for submission of a HOME Program Description for FY 1993.
Nature of Requirement: Subpart D, Sec. 92.150(a) of the HOME
Interim Rule requires that each participating jurisdiction submit its
Program Description for a fiscal year to HUD within 45 days of HUD's
publication of the HOME formula allocations. For fiscal year 1993, the
due date for Program Descriptions was March 15, 1993.
Granted By: Don I. Patch, Acting Deputy Assistant Secretary for
Grant Program.
Date Granted: March 15, 1993.
Reasons Waived: The City was unable to get the application and
program description approved by the City Commission prior to the
deadline. The City was advised that, in future years, it should
anticipate the deadline and be sure the HOME Program Description
approval is included on the Commission's agenda in a timely manner.
107. Regulation: 24 CFR 92.254 (a)(1) and (b)(1).
Project/Activity: Alhambra, CA.; Costa Mesa, CA.; Orange County,
CA.; San Diego County, CA.; Oxnard, CA.; Santa Clara County, CA.; and
San Mateo County Consortium, CA. Waiver of the section 203(b) dollar
limits for purchase and rehabilitation of houses under the HOME
Investment Partnership Act program.
Nature of Requirement: 24 CFR 92.254(a)(1) provides for the setting
of area limits on the initial purchase price for single family housing
and 24 CFR 92.254(b)(1) provides for the setting of area limits on the
value of property after rehabilitation, not involving purchase.
Granted By: Don I. Patch, Acting Assistant Secretary for Community
Planning and Development, March 15, 1993; April 2, 1993 and April 21,
1993. Mark C. Gordon, Deputy Assistant Secretary for Operations/Chief
of Staff, May 26, 1993.
Date Granted: Alhambra, CA., March 15, 1993; Costa Mesa, CA., March
15, 1993; Orange County, CA., March 15, 1993; San Diego County, CA.,
March 15, 1993; Oxnard, CA., April 2; Santa Clara County, CA., April
21; and San Mateo County Consortium, CA., May 26, 1993.
Reasons Waived: Department recognizes that in some high-cost areas,
there may be few properties whose purchase price and/or after
rehabilitation value are below the section 203(b) caps. The local
jurisdictions indicated that to have a viable homeownership program,
they need to have the limit increased. A HUD review confirmed the
validity of the requests, analyzed the data and, therefore, for good
cause, granted waivers establishing the recommended limits as follows:
Alhambra, CA., $204,000; Costa Mesa, CA., $213,000; Orange County, CA.,
$237,000; San Diego, CA., $181,000; Oxnard, CA., $163,000; Santa Clara
County, CA., $266,000; San Mateo County Consortium, CA., $252,000.
108. Regulation: 24 CFR 92.3.
Project/Activity: San Francisco, CA.; and Franklin County, OH.
Waiver of the Single Room Occupancy (SRO) definition in the HOME
Program which requires food preparation or sanitary facilities in each
unit when rehabilitating an existing residential structure.
Nature of Requirement: 24 CFR 92.3 as clarified in CPD Notice 92-31
requires either food preparation or sanitary facilities in each HOME
assisted SRO unit.
Granted By: Don I. Patch, Acting Deputy Assistant Secretary for
Grant Programs.
Date Granted: San Francisco, CA., April 12, 1993; Franklin County,
Ohio, May 8, 1993.
Reasons Waived: The waivers were issued for good cause. The waiver
approval to Franklin County noted that in response to many public
comments, the Department would issue an interim rule to modify the
definition of SRO found at 24 CFR 92.2 to require sanitary or food
preparation facilities only if the project consists of new
construction, conversion of non-residential space, or reconstruction.
For acquisition or rehabilitation of an existing residential structure,
neither type of amenity is required in the unit. However, the
Department strongly encourages participating jurisdictions to provide a
higher level of amenities whenever possible, to contribute to the
continued marketability of the standard housing stock in the future.
This change is made in response to public comment that installing
plumbing when rehabilitating an existing residential structure may be
financially prohibitive. Nonetheless, the Department believes that for
new construction, reconstruction and conversion, a higher level of
amenities is appropriate and desirable. The new SRO definition was
published in the Federal Register on June 23, 1993.
109. Regulation: 24 CFR 92.504(b).
Project/Activity: State of Alaska. Request for a waiver of the
requirement that before a Participating Jurisdiction disburses HOME
funds to any entity it must enter into a detailed written agreement
with the entity ensuring that HOME funds are used in accordance with
all program requirements. Alaska believes designation of its housing
finance agency to administer its HOME program should not require a
detailed written agreement.
Nature of Requirement: The written agreement required by
Sec. 92.504(b) and described in Sec. 92.504(c) contains detailed
requirements concerning the use of HOME funds.
Granted By: Don I. Patch, Acting Assistant Secretary for Community
Planning and Development.
Date Granted: March 23, 1993.
Reasons Waived: Under many State laws, State housing finance
agencies (HFAs), are not part of the State government. Under the HOME
statute, if a HFA is not a State agency it cannot be designated as the
participating jurisdiction. In such cases where the State wants the HFA
to administer the HOME Program, an agency of the State must be the
participating jurisdiction and the HFA must be designated as a
subrecipient.
The Department agrees that the written agreement between a State
and an instrumentality of the State that is a subrecipient need not
contain the same detailed information as is required of other entities
receiving HOME funds. Further, the Department amended Sec. 92.504(b) by
the publication in the Federal Register on June 23, 1993, of an interim
rule which established much simpler requirements for State
subrecipients.
Therefore there was good cause to grant the requested waiver of 24
CFR 92.504(b) and to allow the Alaska Housing Finance Corporation to
enter into a written agreement with the State of Alaska using the much
simpler requirements for State subrecipients.
110. Regulation: 24 CFR 570.200(a)(5) and 24 CFR 570.200(h).
Project/Activity: County of Macomb, Michigan (City of Fraser)
Request for an amendment to a waiver of preagreement costs approved
June 26, 1992, for the City of Fraser, Michigan, a subrecipient of the
Community Development Block Grant Program (CDBG) of the County of
Macomb, Michigan.
Nature of Requirement: 24 CFR 570.200(h) permits reimbursement of
certain eligible costs incurred prior to the date of the grant
agreement. 24 CFR 570.200(a)(5) limits pre-agreement costs to those
described in subparagraph 570.200(h).
Granted By: David M. Cohen, Acting Deputy Assistant Secretary for
Grant Programs.
Date Granted: May 28, 1993.
Reasons Waived: A previous waiver of pre-agreement costs, which was
approved June 26, 1992, permitted the City to proceed with the
construction of a senior center and reimburse the costs of constructing
the facility with CDBG funds from 1992-1998. Although the site
preparation and foundation work had begun, unforeseen soil conditions
had necessitated change orders that would have resulted in an increase
in the cost. The City needed to request an amendment to the period
covered by the waiver. Failure to approve this request may impose a
greater hardship on the City since it has already incurred contractual
obligations for construction of the project and would cause undue
hardship and adversely affect the purposes of the Act. For good cause
the limitations on pre-agreement costs at 24 CFR 570.200(a)(5) and
570.200(h) were waived to permit the reimbursement of the costs of
constructing this facility with CDBG funds from 1992 through the year
2000.
111. Regulation: 24 CFR 574.4.
Project/Activity: Seattle, Washington. The Seattle Department of
Housing and Human Services requested an extension of the deadline to
allow ample time to prepare a proposal that adequately addresses the
needs of persons with AIDS.
Nature of Requirement: 24 CFR 574.4 establishes a deadline for the
submission of applications for the entitlement component of the Housing
Opportunities for Persons with AIDS (HOPWA) Program.
Granted By: Don I. Patch, Acting Assistant Secretary for Community
Planning and Development.
Date Granted: March 8, 1993.
Reason Waived: In order to provide time to adequately involve the
community organizations serving persons with AIDs in the application, a
waiver of the March 15, 1993 deadline was granted, and the date for
submission of the HOPWA application was extended to April 30, 1993.
112. Regulation: 24 CFR 291.400.
Project/Activity: Sabine Valley Center, Longview Texas; Mat-Su
Mental Health Center, Wasilla, Alaska. Request for a waiver of the
disposition rules for HUD-acquired one- to four-family properties which
restrict occupancy by a homeless leasee in transition to a maximum of
24 months.
Nature of Requirements: The purpose of the program described in 24
CFR 291.400 is to assist individuals and families who are homeless by
providing them with transitional housing. Use of HUD-acquired
properties by lessees must be with the understanding that the housing
provided under this program is transitional and the occupants are
expected to seek and obtain permanent housing resources within two
years.
Granted By: Don I. Patch, Acting Deputy Assistant Secretary for
Grant Programs.
Date Granted: Longview Texas, March 10, 1993; Wasilla, Alaska,
April 22, 1993.
Reasons Waived: The waivers were granted for good cause to
facilitate a homeless individual in each of the community mental health
centers to move from transitional to permanent housing. In Longview, an
extension of 12 months was granted to allow time for completion of job
training. In Wasilla, an extension of 6 months was granted after which
entitlements would be available for the individual to achieve
independent living.
113. Regulation: 24 CFR 576.55(b)(2).
Project/Activity: Saginaw, Michigan; District of Columbia; and
Savannah, Georgia. Request for extension of the deadline for the
expenditure of Emergency Shelter Grant (ESG) funds.
Nature of Requirement: 24 CFR 576.55(b)(2) requires that each ESG
formula grantee spend all of the grant amounts it was allocated within
24 months of the date of the grant award by HUD.
Granted By: Don I. Patch, Acting Deputy Assistant Secretary for
Grant Programs.
Date Granted: March 2, 1993, Saginaw; March 31, 1993, District of
Columbia; and April 21, 1993, Savannah.
Reasons Waived: Waivers granted for good cause to undue hardship
which would result from applying the deadline or where requiring the
deadline would adversely affect the purposes of the program: Saginaw,
30-day extension to allow finishing of rehabilitation of Underground
Railroad, an ESG subrecipient; District of Columbia, 122-day extension
to accommodate delays in rehabilitating Emery Shelter without closing
it in order to continue to serve its large number of homeless clients;
Savannah, 118 days extension to accommodate the time needed to overturn
an appeal by an adjacent property owner to zoning variances granted by
the City for the Independence Center, an ESG facility.
[FR Doc. 94-8017 Filed 4-4-94; 8:45 am]
BILLING CODE 4210-32-M
