[Federal Register Volume 62, Number 116 (Tuesday, June 17, 1997)]
[Notices]
[Pages 32752-32753]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15803]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice to Recipients of Form AD-622, ``Notice of Preapplication
Review Action,'' Under the Section 515 Rural Rental Housing Program
AGENCY: Rural Housing Service (RHS), USDA.
ACTION: Notice.
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SUMMARY: This Notice provides information to all applicants for the
Section 515 Rural Rental Housing Program who have received Form AD-622,
``Notice of Preapplication Review Action,'' inviting a formal loan
application. The intent of this Notice is to inform such recipients
that the Agency intends to keep their application as an active proposal
until the Agency publishes final regulations.
EFFECTIVE DATE: June 17, 1997.
FOR FURTHER INFORMATION CONTACT: Cynthia L. Reese-Foxworth, Senior Loan
Officer, Multi-Family Housing Processing Division, USDA, Stop 0781,
Washington, DC, 20250, telephone (202) 720-1940 (this is not a toll
free number).
SUPPLEMENTARY INFORMATION:
Programs Affected
The Rural Rental Housing Program is listed in the Catalog of
Federal Domestic Assistance under Number 10.415, Rural Rental Housing
Loans.
Discussion of Notice
The Rural Housing Service (RHS), formerly Rural Housing and
Community Development Service (RHCDS), a successor Agency to the
Farmers Home Administration (FmHA), amended its regulations for the
Rural Rental Housing (RRH) Program to implement legislative reforms
mandated by the Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 1997, Public
Law 104-180, enacted August 6, 1996. On May 7, 1997, the Agency
published in the Federal Register (62 FR 25062) an interim final rule
with request for comments entitled, ``Rural Rental Housing (RRH)
Assistance.'' Additionally, the Agency published a Notice in the
Federal Register (62 FR 28982) of its intent to conduct a Public
Hearing on June 11, 1997, from 10:00 a.m. to 2:00 p.m., in room 107-A
of the Jamie L. Whitten Federal Building located at 1400 Independence
Avenue, SW, Washington, DC 20250.
The ``Implementation Proposal'' section of the preamble of the
interim final rule stated that loan requests that have been issued an
AD-622 inviting a
[[Page 32753]]
formal application that are not located in a designated place in
accordance with the requirements of the interim rule will be returned
to the applicant. This Notice is to advise such applicants that this
policy is revised. Loan requests that have been issued an AD-622
inviting a formal application for a complex that is not located in a
designated place, in accordance with the interim rule, will be held
until after the Final Rule on the reforms is published, estimated to be
on or about November 1, 1997. The reason for not returning such loan
requests at this time is because the Agency anticipates that the
interim rule requirements on designating places may change based on the
public comments and the scheduled hearing on June 11, 1997. The Agency
does not desire to adversely affect such applicants by returning their
loan requests. Until the Final Rule is published, Rural Development
Offices will retain these loan requests. Retaining these loan requests
should not be construed as an indication or guarantee of future
funding. Rather, applicants may maintain the current status of their
loan request at their own cost and risk; however, such applications
will be subject to the provisions of the Final Rule. Such applicants
must keep their applications current and may withdraw same at any time.
Dated: June 9, 1997.
Eileen Fitzgerald,
Acting Administrator, Rural Housing Service.
[FR Doc. 97-15803 Filed 6-16-97; 8:45 am]
BILLING CODE 3410-XV-P
