97-23905. Notice of Extension for Availability of Funding and Requests for Proposals for the Section 538 Rural Rental Housing Guaranteed Loan Demonstration Program

[Federal Register Volume 62, Number 175 (Wednesday, September 10, 1997)]
[Notices]
[Pages 47623-47624]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-23905]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Housing Service


Notice of Extension for Availability of Funding and Requests for 
Proposals for the Section 538 Rural Rental Housing Guaranteed Loan 
Demonstration Program

AGENCY: Rural Housing Service, USDA.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Rural Housing Service (RHS) announces the extension of the 
application deadline to September 22, 1997. Applications for the 
program will be processed as they are received, until the funds are 
exhausted.
    RHS previously announced the availability of the section 538 Rural 
Rental Housing Guaranteed Loan program on a demonstration basis on July 
2, 1997, 62 FR 35782. The application closing date is extended from 
August 18, 1997, to September 22, 1997.

DATES: The deadline for receipt of applications is 4:00 p.m., Eastern 
Daylight Savings Time on September 22, 1997. Applications received 
after such date and time will be returned. Lenders are encouraged to 
submit applications prior to September 22, 1997, as applications will 
be reviewed as they are received. If there are differences between any 
previously distributed guidelines and this notice, the requirements of 
this notice shall prevail. If RHS is unable to obligate section 538 
funds for guaranteed loans by

[[Page 47624]]

September 26, 1997, any remaining section 538 funds will be transferred 
for use under the section 515 program. Qualified lenders may call the 
office of the Multi-Family Housing Processing Division of the Rural 
Housing Service, at 202-720-1604 for a copy of the application package. 
This is not a toll-free number. Hearing- or speech-impaired persons may 
access that number by calling toll-free the Federal Information Relay 
Service at [phone].

    Dated: August 28, 1997.
Jan E. Shadburn,
Administrator, Rural Housing Service.
[FR Doc. 97-23905 Filed 9-9-97; 8:45 am]
BILLING CODE 3410-XV-U