[Federal Register: May 16, 2003 (Volume 68, Number 95)]
[Notices]
[Page 26941]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr16my03-161]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice of Funding Availability (NOFA) for the Section 515 Rural
Rental Housing Program for Fiscal Year 2003
AGENCY: Rural Housing Service (RHS), USDA.
ACTION: Notice.
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SUMMARY: This NOFA announces the availability of new construction loan
funds for the section 515 Rural Rental Housing (RRH) program for Fiscal
Year (FY) 2003. By prior notice in the Federal Register, the Agency
announced a deadline of February 25, 2003, 5 p.m. local time for each
Rural Development State Office, for submitting applications for section
515 new construction loan funds and section 521 Rental Assistance (RA).
The ``Notice of Timeframe to Submit Applications for the Section 515
Rural Rental Housing Program for Fiscal Year 2003'' was published in
the Federal Register on December 27, 2002 (67 FR 79033). This was done
prior to passage of a final appropriations act to allow sufficient time
for applicants to complete an application and for the Agency to select
and process selected applications within the current fiscal year.
Detailed information regarding the application and selection process,
as well as a listing of the Rural Development State Offices, may be
found in the December 27, 2002, notice.
FOR FURTHER INFORMATION CONTACT: For general information, applicants
may contact Linda Armour, Senior Loan Officer, Multi-Family Housing
Processing Division, Rural Housing Service, United States Department of
Agriculture, Stop 0781, 1400 Independence Avenue, SW., Washington, DC
20250, telephone (202) 720-1753 (voice) (this is not a toll free
number) or (800) 877-8339 (TDD-Federal Information Relay Service).
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. Rental Assistance is listed in the Catalog under Number 10.427,
Rural Rental Assistance Payments.
Discussion of Notice
I. Authority and Distribution Methodology
A. Authority
Section 515 of the Housing Act of 1949 (42 U.S.C. 1485) provides
RHS with the authority to make loans to any individual, corporation,
association, trust, Indian tribe, public or private nonprofit
organization, consumer cooperative, or partnership to provide rental or
cooperative housing and related facilities in rural areas for very-low,
low, or moderate income persons or families, including elderly persons
and persons with disabilities. Rental Assistance (RA) is a tenant
subsidy for very-low and low-income families residing in rural rental
housing facilities with RHS financing and may be requested with
applications for such facilities.
B. Distribution Methodology
The total amount available for FY 2003 for section 515 is
$115,052,541, of which $29,252,541 is available for new construction as
follows:
Section 515 new construction funds--$7,145,186
Set-aside for nonprofits--10,354,728
Set-aside for Underserved Counties and Colonias--5,752,627
Set-aside for EZ, EC, and REAP Zones--5,000,000
State Rental Assistance (RA) Designated reserve--1,000,000
C. Set-asides and State RA Reserve
1. Nonprofit set-aside. An amount of $10,354,728 has been set aside
for nonprofit applicants. Details on this set-aside are provided in the
notice published in the Federal Register on December 27, 2002.
2. Underserved counties and colonias set-aside. An amount of
$5,752,627 has been set aside for loan requests to develop units in the
100 most needy underserved counties or colonias as defined in section
509(f) of the Housing Act of 1949.
3. EZ, EC, and REAP set-aside. An amount of $5,000,000 has been set
aside to develop units in EZ, EC, or REAP communities. If requests for
this set-aside exceed available funds, selection will be made by point
score.
4. State RA Reserve. $1,000,000 is available nationwide in a
reserve for States with viable State Rental Assistance (RA) programs.
In order to participate, States are to submit specific written
information about the State RA program, i.e., a memorandum of
understanding, documentation from the provider, etc., to the National
Office.
Dated: May 12, 2003.
Arthur A. Garcia,
Administrator, Rural Housing Service.
[FR Doc. 03-12244 Filed 5-15-03; 8:45 am]
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