rmajette on PROD1PC67 with NOTICES
Federal Register / Vol. 71, No. 18 / Friday, January 27, 2006 / Notices
DOCUMENTATION FOR GRRHP LENDER APPROVAL’’ in this NOFA.
Lenders will also be invited to submit a complete application and the required application fee of $2,500 to the Rural Development State Office where the project is located.
Submission of GRRHP Applications: Notification letters will instruct lenders to contact the Rural Development State Office immediately following notification of selection to schedule required agency reviews.
Rural Development State Office staff will work with lenders in the development of an application package. In response to the NOFA, lenders must submit a NOFA response to the office address identified in the NOFA for the scoring and ranking of a proposed GRRHP project. The lender must provide the requested information concerning the project, to establish the purpose of the proposed project, its location, and how it meets the established priorities for funding. The Agency will determine the highest ranked responses based on priority criteria and a threshold score.
NOFA responses will at least include the following [but the Agency, at its sole discretion, may request additional information]:
A brief description of the proposed
location of the project, including town, county, state, and congressional district.
(b) A description of the property and improvements, including lot size, number of units, building type, type of construction, etc., including preliminary drawings, if available.
(c) The proposed development schedule.
Total project development cost.
The proposed rent structure and
area median income (HUD published area median incomes can be found online at http://www.huduser.org).
(f) Evidence of site control by the proposed borrower or a purchase option.
(g) Description of any environmental issues that may affect the project.
Amount of loan to be guaranteed.
Type of project (e.g. elderly or
The Proposed Financing
Proposed loan amount and the
proposed borrower’s equity.
(b) Proposed use of interest credit—If the lender proposes to use interest credit, this section should include the maximum basis points the lender will charge the borrower for the project. The interest rate may not be lower than the published Long Term Monthly AFR at
the closing of the lender’s loan. Selection and scoring criteria that the project must meet to receive interest credit will be published in the NOFA.
(c) Estimated development budget (total and cost/unit) and the proposed sources and uses of funds. This information should include all proposed financing sources—the amount, type, rates and terms of loans, tax credits, or grant funds. Letters of application and commitment letters should be included, if available.
(d) Estimated loan-to-development cost ratio for the guaranteed loan.
(e) Proposed Agency guarantee percentage for guaranteed loan (under no condition can the percentage exceed 90 percent of the loan amount).
(f) Collateral—all security, in addition to the real property, proposed to secure the loan.
The Proposed Borrower
The name of the borrower and the
type of ownership entity. List the general partners if a limited partnership, officers if a corporation or members of an Limited Liability Corporation.
(b) Borrower’s contact name, mailing address, phone and fax numbers, and e- mail address.
(c) Evidence that the borrower or principals of the ownership are not barred from participating in Federal housing programs and are not delinquent on any Federal debt.
(d) Borrower’s unaudited or audited financial statements.
(e) Statement of borrower’s housing development experience.
(4) Lender Eligibility and Approval Status
Evidence that the lender is either an approved lender for the purposes of the GRRHP or that the lender is eligible to apply for approved lender status. The lender’s application for approved lender status can be submitted with the NOFA response but must be submitted to the National Office within 45 calendar days of the lender’s receipt of the ‘‘notice to proceed with application processing’’ letter.
(5) Competitive Criteria
Information that shows how the proposal is responsive to the selection criteria specified in the NOFA.
(6) Lender Certification
A commitment letter signed by the lender, on the lender’s letterhead, indicating that the lender will make a loan to the borrower for the proposed project, under specified terms and conditions subject only to the issuance of a guarantee by the Agency.
The deadline for the submission of a complete application and application fee is 90 days from the date of notification of response selection. If the application and fee are not received by the appropriate State Office within 90 days from the date of notification, the selection is subject to cancellation, thereby allowing another response that is ready to proceed with processing to be selected.
Obligation of Program Funds: The RHS will only obligate funds to projects that meet the requirements for obligation, including undergoing a satisfactory environmental review in accordance with the National Environmental Protection Act (NEPA) and lenders who have submitted the $2,500 application fee and completed Form RD 3565–1 for the selected project.
Conditional Commitment: Once required documents for obligation and the application fee are received and all NEPA requirements have been met, the Rural Development State Office will issue a conditional commitment, which stipulates the conditions that must be fulfilled before the issuance of a guarantee, in accordance with 7 CFR 3565.303.
Issuance of Guarantee: The RHS State Office will issue a guarantee to the lender for a project in accordance with 7 CFR 3565.303. No guarantee can be issued without a complete application, review of appropriate certifications, satisfactory assessment of the appropriate level of environmental review, and the completion of any conditional requirements.
Dated: January 18, 2006. David J. Villano, Acting Administrator, Rural Housing Service. [FR Doc. E6–1054 Filed 1–26–06; 8:45 am]
BILLING CODE 3410–XV–P
COMMITTEE FOR PURCHASE FROM PEOPLE WHO ARE BLIND OR SEVERELY DISABLED
Procurement List; Proposed Additions and Deletion
AGENCY: Committee for Purchase from People Who Are Blind or Severely Disabled.
ACTION: Proposed additions to and deletions from Procurement List.
SUMMARY: The Committee is proposing to add to the Procurement List products and services to be furnished by nonprofit agencies employing persons who are blind or have other severe disabilities, and to delete a product previously furnished by such agencies.
15:17 Jan 26, 2006