[Federal Register Volume 76, Number 102 (Thursday, May 26, 2011)]
[Notices]
[Pages 30641-30646]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-13012]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice of Funding Availability (NOFA) for Loan Guarantees Under
Section 538 Guaranteed Rural Rental Housing Program (GRRHP) for Fiscal
Year 2011
AGENCY: Rural Housing Service, USDA.
ACTION: NOFA.
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SUMMARY: This is a request for proposals for guaranteed loans under the
section 538 Guaranteed Rural Rental Housing Program (GRRHP) pursuant to
7 CFR 3565.4 for Fiscal Year (FY) 2011. The Department of Defense and
Full Year Continuing Appropriations Act, 2011 (Pub. L. 112-20) (April
15, 2011) appropriated approximately $31,000,000 to the Agency for FY
2011 funding for the section 538 program. The commitment of program
dollars will be made first to approved and complete applications from
prior years NOFA, then to applicants of selected responses in the order
they are ranked under this NOFA that have fulfilled the necessary
requirements for obligation.
Expenses incurred in developing applications will be at the
applicant's risk. The following paragraphs outline the timeframes,
eligibility requirements, lender responsibilities, and the overall
response and application processes.
Eligible lenders are invited to submit responses for new
construction and acquisition with rehabilitation of affordable rural
rental housing. The Agency will review responses submitted by eligible
lenders, on the lender's letterhead, and signed by both the prospective
borrower and lender. Although a complete application is not required in
response to this NOFA, eligible lenders may submit a complete
application concurrently with the response. Submitting a complete
application will not have any effect on the respondent's NOFA response
score.
DATES: Eligible responses to this NOFA will be accepted per this
guidance until
[[Page 30642]]
December 30, 2011, 12 p.m. Eastern Time. Selected responses that
develop into complete applications and meet all Federal eligibility
requirements will receive conditional commitments until all funds are
expended. Selected responses to this NOFA that are deemed eligible for
further processing after September 30, 2011, will be funded to the
extent an appropriation act provides funding for GRRHP for FY 2012 and
will be subject to any additional limitations that may be in the FY
2012 NOFA.
Eligible lenders mailing a response or application must provide
sufficient time to permit delivery to the submission address on or
before the closing deadline date and time. Acceptance by a U.S. Post
Office or private mailer does not constitute delivery. Postage due
responses and applications will not be accepted.
Submission Address: Eligible lenders will send responses to the
Multi-family Housing Program Director of the State Office where the
project will be located.
USDA Rural Development State Offices, their addresses, and
telephone numbers, follow: [this information may also be found at
http://www.rurdev.usda.gov/recd_map.html].
Note: Telephone numbers listed are not toll-free.
Alabama State Office, 4121 Carmichael Road, Suite 601, Sterling Centre,
Montgomery, AL 36106-3683, (334) 279-3400, TDD (334) 279-3495.
Alaska State Office, 800 West Evergreen, Suite 201, Palmer, AK 99645,
(907) 761-7740, TDD (907) 761-8905.
Arizona State Office, 230 North First Avenue, Suite 206, Phoenix, AZ
85003-1706, (602) 280-8755, TDD (602) 280-8706.
Arkansas State Office, 700 W. Capitol Avenue, Room 3416, Little Rock,
AR 72201-3225, (501) 301-3200, TDD (501) 301-3279.
California State Office, 430 G Street, 4169, Davis, CA 95616-
4169, (530) 792-5800, TDD (530) 792-5848.
Colorado State Office, 655 Parfet Street, Room E100, Lakewood, CO
80215, (720) 544-2915, TDD (800) 659-2656.
Connecticut: Served by Massachusetts State Office.
Delaware and Maryland State Office, 1221 College Park Drive, Suite 200,
Dover, DE 19904, (302) 857-3580, TDD (302) 857-3585.
Florida & Virgin Islands State Office, 4440 N.W. 25th Place, P.O. Box
147010, Gainesville, FL 32614-7010, (352) 338-3400, TDD (352) 338-3499.
Georgia State Office, Stephens Federal Building, 355 E. Hancock
Avenue--Stop 307, Athens, GA 30601-2768, (706) 546-2162, TDD (706) 546-
2034.
Hawaii State Office, (Services all Hawaii, American Samoa Guam, and
Western Pacific), Room 311, Federal Building, 154 Waianuenue Avenue,
Hilo, HI 96720, (808) 933-8380, TDD (808) 933-8321.
Idaho State Office, 9173 West Barnes Drive, Suite A1, Boise, ID 83709,
(208) 378-5602, TDD (208) 378-5644.
Illinois State Office, 2118 West Park Court, Suite A, Champaign, IL
61821-2986, (217) 403-6200, TDD (217) 403-6240.
Indiana State Office, 5975 Lakeside Boulevard, Indianapolis, IN 46278-
1966, (317) 290-3100 (ext. 4), TDD (317) 290-3343.
Iowa State Office, 210 Walnut Street, Room 873, Des Moines, IA 50273,
(515) 284-4663, TDD (515) 284-4858.
Kansas State Office, 1303 SW First American Place, Suite 100, Topeka,
KS 66604-4040, (785) 271-2700, TDD (785) 271-2767.
Kentucky State Office, 771 Corporate Drive, Suite 200, Lexington, KY
40503, (859) 224-7300, TDD (859) 224-7422.
Louisiana State Office, 3727 Government Street, Alexandria, LA 71302,
(318) 473-7921, TDD (318) 473-7655.
Maine State Office, 967 Illinois Avenue, Suite 4, Bangor, ME 04402-
0405, (207) 990-9100 (ext. 4), TDD (207) 942-7331.
Maryland: Served by Delaware State Office.
Massachusetts, Connecticut, & Rhode Island State Office, 451 West
Street, Suite 2, Amherst, MA 01002, (413) 253-4300, TDD (413) 253-4590.
Michigan State Office, 3001 Coolidge Road, Suite 200, East Lansing, MI
48823, (517) 324-5190, TDD (517) 324-5169.
Minnesota State Office, 375 Jackson Street, Suite 410, St. Paul, MN
55101-1853, (651) 602-7800, TDD (651) 602-7830.
Mississippi State Office, Federal Building, Suite 831, 100 W. Capitol
Street, Jackson, MS 39269, (601) 965-4318, TDD (601) 965-5850.
Missouri State Office, 601 Business Loop 70 West, Parkade Center, Suite
235, Columbia, MO 65203, (573) 876-0976, TDD (573) 876-9480.
Montana State Office, 2229 Boot Hill Court, Bozeman, MT 59715, (406)
585-2540, TDD (406) 585-2562.
Nebraska State Office, Federal Building, Room 152, 100 Centennial Mall
N, Lincoln, NE 68508, (402) 437-5551, TDD (402) 437-5093.
Nevada State Office, 1390 South Curry Street, Carson City, NV 89703-
9910, (775) 887-1222 (ext. 100), TDD (775) 885-0633.
New Hampshire State Office, 10 Ferry Street, Concord, NH 03301-5004,
Suite 218, Box 317, (603) 223-6046, TDD (802) 828-6365.
New Jersey State Office, 8000 Midlantic Drive, 5th Floor North Suite
500, Mt. Laurel, NJ 08054, (856) 787-7700, TDD (856) 787-7730.
New Mexico State Office, 6200 Jefferson Street NE, Albuquerque, NM
87109, (505) 761-4950, TDD (505) 761-4938.
New York State Office, The Galleries of Syracuse, 441 S. Salina Street,
Suite 357, Syracuse, NY 13202-2425, (315) 477-6400, TDD (315) 477-6447.
North Carolina State Office, 4405 Bland Road, Suite 260, Raleigh, NC
27609, (919) 873-2000, TDD 711 (state relay system).
North Dakota State Office, Federal Building, Room 208, 220 East Rosser,
P.O. Box 1737, Bismarck, ND 58502, (701) 530-2061, TDD (701) 530-2090.
Ohio State Office, Federal Building, Room 507, 200 North High Street,
Columbus, OH 43215-2477, (614) 255-2400, TDD (800) 877-8339.
Oklahoma State Office, 100 USDA, Suite 108, Stillwater, OK 74074-2654,
(405) 742-1000, TDD (405) 742-1007.
Oregon State Office, 1201 NE. Lloyd Boulevard, Suite 801, Portland, OR
97232-1274, (503) 414-3300, TDD (503) 414-3387.
Pennsylvania State Office, One Credit Union Place, Suite 330,
Harrisburg, PA 17110-2996, (717) 237-2299, TDD 711 (state relay
system).
Puerto Rico State Office, 654 Munoz Rivera Avenue, Suite 601, San Juan,
PR 00918, (787) 766-5095, TDD (787) 766-5332.
Rhode Island: Served by Massachusetts State Office.
South Carolina State Office, Strom Thurmond Federal Building, 1835
Assembly Street, Room 1007, Columbia, SC 29201, (803) 765-5163, TDD
(803) 765-5697.
South Dakota State Office, Federal Building, Room 210, 200 Fourth
Street, SW., Huron, SD 57350, (605) 352-1100, TDD (605) 352-1147.
Tennessee State Office, 3322 West End Avenue, Suite 300, Nashville, TN
37203, (615) 783-1300, TDD (615) 783-1397.
Texas State Office, Federal Building, Suite 102, 101 South Main,
Temple, TX 76501, (254) 742-9700, TDD (254) 742-9712.
Utah State Office, Wallace F. Bennett Federal Building, 125 S. State
Street, Room 4438, Salt Lake City, UT 84138, (801) 524-4320, TDD (801)
524-3309.
Vermont State Office, City Center, 3rd Floor, 89 Main Street,
Montpelier, VT 05602, (802) 828-6080, TDD (802) 223-6365.
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Virgin Islands: Served by Florida State Office.
Virginia State Office, 1606 Santa Rosa Road, Suite 238, Richmond, VA
23229, (804) 287-1500, TDD (804) 287-1753.
Washington State Office, 1835 Black Lake Blvd. SW., Suite B, Olympia,
WA 98512, (360) 704-7740, TDD (360) 704-7772.
Western Pacific Territories: Served by Hawaii State Office.
West Virginia State Office, Federal Building, 1550 Earl Core Road,
Suite 101, Morgantown, WV 26505, (304) 284-4881, TDD (304) 284-4836.
Wisconsin State Office, 4949 Kirschling Court, Stevens Point, WI 54481,
(715) 345-7600, TDD (715) 345-7614.
Wyoming State Office, P.O. Box 11005, Casper, WY 82602, (307) 233-6700,
TDD (307) 233-6733.
FOR FURTHER INFORMATION CONTACT: Monica Cole, Financial and Loan
Analyst, USDA Rural Development Guaranteed Rural Rental Housing
Program, Multi-Family Housing Guaranteed Loan Division, U.S. Department
of Agriculture, South Agriculture Building, Room 1263, STOP 0781, 1400
Independence Avenue, SW., Washington, DC 20250-0781. E-mail:
[email protected]. Telephone: (202) 720-1251. This number is not
toll-free. Hearing or speech-impaired persons may access that number by
calling the Federal Information Relay Service toll-free at (800) 877-
8339.
Overview
Federal Agency: Rural Housing Service.
Solicitation Opportunity Title: Guaranteed Multi-Family Housing
Loans.
Announcement Type: Initial Solicitation Announcement.
Catalog of Federal Domestic Assistance: 10.438.
Dates: Response Deadline: December 30, 2011,12 p.m. Eastern Time.
Funding Opportunity Description:
The GRRHP is authorized by section 538 of the Housing Act of 1949,
as amended (42 U.S.C. 1490p-2) and operates under 7 CFR part 3565. The
GRRHP Origination and Servicing Handbook (HB-1-3565) is available to
provide lenders and the general public with guidance on program
administration. HB-1-3565, which contains a copy of 7 CFR part 3565 in
Appendix 1, can be found at: http://www.rurdev.usda.gov/regs/Handbooks.html#hbw6. The purpose of the GRRHP is to increase the supply
of affordable rural rental housing through the use of loan guarantees
that encourage partnerships between the Agency, private lenders, and
public agencies.
Eligibility of Prior Year Selected Notice of Funding Availability
Responses
Prior fiscal year response selections that did not develop into
complete applications within the time constraints stipulated by the
corresponding State Office have been cancelled. Applicants have been
notified of the cancellation by the State Office. A new response for
the project may be submitted subject to the conditions of this NOFA.
Prior years NOFA responses that were selected by the Agency, with a
complete application (including all Federal environmental documents
required by 7 CFR part 1940, subpart G, and a Form RD 3565-1
``Application for Loan and Guarantee'') submitted by the lender within
90 days from the date of notification of response selection (unless an
extension was granted by the Agency), will be eligible for any FY 2011
program dollars without having to complete a FY 2011 response.
Outstanding prior years approved applications were obligated to the
extent of available funding in order of priority score with the highest
scores obligated first. In the case of tied scores, the project with
the greatest leveraging (lowest Loan to Cost) received selection
priority. Once the outstanding prior years approved applications have
been funded, the Agency will select FY 2011 responses for further
processing in rank order as determined by the scoring criteria set
forth in this NOFA to the extent that funds remain available.
Qualifying Properties: Qualifying properties include new
construction for multi-family housing units and the acquisition of
existing structures with a minimum per unit rehabilitation expenditure
requirement in accordance with 7 CFR 3565.252.
Also eligible is the revitalization, repair and transfer (as
stipulated in 7 CFR 3560.406) of existing direct section 515 housing
(transfer costs are subject to Agency approval and must be an eligible
use of loan proceeds as listed in 7 CFR 3565.205) and properties
involved in the Agency's MPR program. Equity payment, as stipulated 7
CFR 3560.406, in the transfer of existing direct section 515 housing,
is an eligible use of guaranteed loan proceeds, however the amount of
funding available for transfers of existing section 515 properties
involving equity payments will be limited to 25 percent of the FY 2011
funding level through August 31, 2011. Once the Agency has committed 25
percent of the total funding available for transfers of existing
section 515 properties with equity payments, no further funding will be
available for transfers of existing section 515 properties with equity
payments until after August 31, 2011, if funding is available. If there
is funding available after August 31, 2011, funding requests for
transfers of existing 515 properties involving equity payments will be
obligated in the order the obligation request was received at the
National Office. Funding requests for transfers of existing 515
properties involving equity payments will be kept in a separate queue.
The 25 percent limit is solely for equity payments and does not affect
515 properties' use of 538 loans for rehabilitation and repairs. In
order to be considered, the transfer of direct section 515 housing and
MPR projects must need repairs and undergo revitalization of a minimum
of $6,500 per unit.
Eligible Financing Sources: Any form of Federal, state, and
conventional sources of financing can be used in conjunction with the
loan guarantee, including Home Investment Partnership Program (HOME)
grant funds, tax exempt bonds, and low income housing tax credits.
Types Of Guarantees: The Agency offers three types of guarantees
which are set forth at 7 CFR 3565.52(c).
The Agency's liability under any guarantee will decrease or
increase, in proportion to any decrease or increase in the amount of
the unpaid portion of the loan, up to the maximum amount specified in
the Loan Note Guarantee. Penalties incurred as a result of default are
not covered by any of the program's guarantees. The Agency may provide
a lesser guarantee based upon its evaluation of the credit quality of
the loan.
Energy Conservation: USDA Rural Development has adopted a policy
that all new multi-family housing projects financed in whole or in part
by the USDA, will be encouraged to engage in sustainable building
development that emphasizes energy-efficiency and conservation. In
order to assist in the achievement of this goal, any GRRHP project that
participates in one or all of the programs included in priority 6 under
the Scoring of Priority Criteria for Selection of Projects section of
this NOFA, may receive a maximum of twenty (20) additional points added
to their project score. Participation in these nationwide initiatives
is voluntary, but strongly encouraged.
Interest Credit: The FY 2011 appropriation act did not fund
interest credit.
Surcharges for Guarantee of Construction Advances: There is no
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surcharge for the guarantee of construction advances for FY 2011.
Program Fees for FY 2011: As a condition of receiving a loan
guarantee, and as provided in 7 CFR 3565.302, the Agency will charge
the following fees to the lender responding to the FY 2011 NOFA. The
fees are as follows:
(1) No application fee for lenders submitting an application.
(2) No initial guarantee fee for lenders submitting an application.
(3) No annual guarantee fee for lenders submitting an application.
(4) A flat fee of $500 when a lender requested USDA Rural
Development to extend the term of a guarantee commitment.
(5) A flat fee of $500 when a lender requested USDA Rural
Development to reopen an application when a commitment had expired.
(6) A flat fee of $1,250 when a lender requested USDA Rural
Development to approve the transfer of property and assumption of the
loan to an eligible prospective borrower.
(7) No lender application fee for lender approval.
Eligibility Information
Eligible Lenders: An eligible lender for the section 538 GRRHP as
required by 7 CFR 3565.102 must be a licensed business entity or
Housing Finance Agency (HFA) in good standing in the state or states
where it conducts business. Lender eligibility requirements are
contained in 7 CFR 3565.102. Please review 7 CFR 3565.102 for a
complete list of all of the criteria. The Agency will only accept
responses from GRRHP eligible or approved lenders as described in 7 CFR
3565.102 and 3565.103 respectively.
GRRHP Lender Approval Application: Lenders whose responses are
selected will be notified by the USDA Rural Development to submit a
request for GRRHP lender approval application within 30 days of
notification. Lenders who request GRRHP approval must meet the
standards in the 7 CFR part 3565 and provide the documentation set
forth in GRRHP Origination and Servicing Handbook (HB-1-3565) found at
http://www.rurdev.usda.gov/Handbooks.html#hbw6 (and available in any
local RD office).
Lenders that have received GRRHP lender approval in the past and
are in good standing do not need to reapply for GRRHP lender approval.
A lender making a construction loan must demonstrate an ability to
originate and service construction loans, in addition to meeting the
other requirements of 7 CFR part 3565, subpart C.
Submission of Documentation For GRRHP Lender Approval: All lenders
that have not yet received GRRHP lender approval must submit a complete
lender application to: Director, Multi-Family Housing Guaranteed Loan
Division, Rural Development, U.S. Department of Agriculture, Room 1263,
STOP 0781, 1400 Independence Avenue, SW., Washington, DC 20250-0781.
Lender applications must be identified as ``Lender Application--Section
538 Guaranteed Rural Rental Housing Program'' on the envelope.
Discussion of NOFA Response Requirements
Content of NOFA Responses: All responses require lender information
and project specific data as set out in this NOFA. Incomplete responses
will not be considered for funding. Lenders will be notified of
incomplete responses no later than 30 calendar days from the date of
receipt of the NOFA response by the Agency. Complete responses are to
include a signed cover letter from the lender on the lender's
letterhead 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.
(1) Lender Certification--The lender must certify that the lender
will make a loan to the prospective borrower for the proposed project,
under specified terms and conditions subject to the issuance of the
GRRHP guarantee. Lender certification must be on the lender's
letterhead and signed by both the lender and the prospective borrower.
(2) Project Specific Data--The lender must submit the project
specific data below on the lender's letterhead, signed by both the
lender and the prospective borrower:
------------------------------------------------------------------------
Information that must be
Data element included
------------------------------------------------------------------------
Lender Name............................ Insert the lender's name.
Lender Tax ID ................ Insert lender's tax ID .
Lender Contact Name.................... Name of the lender contact for
loan.
Mailing Address........................ Lender's complete mailing
address.
Phone ........................ Phone for lender
contact.
Fax .......................... Insert lender's fax .
E-mail Address......................... Insert lender contact e-mail
address.
Borrower Name and Organization Type.... State whether borrower is a
Limited Partnership,
Corporation, Indian Tribe,
etc.
Equal Opportunity Survey............... Optional Completion
Tax Classification Type................ State whether borrower is for
profit, not for profit, etc.
Borrower Tax ID .............. Insert borrower's tax ID .
Borrower DUNS ................ Insert DUNS number.
Borrower Address, including County..... Insert borrower's address and
county.
Borrower Phone , fax number Insert borrower's phone , fax number and e-mail
address.
Principal or Key Member for the Insert name and title. List the
Borrower. general partners if a limited
partnership, officers if a
corporation or members of a
Limited Liability Corporation.
Borrower Information and Statement of Attach relevant information.
Housing Development Experience.
New Construction, Acquisition With State whether the project is
Rehabilitation, or the Revitalization, new construction or
Repair, and Transfer (as stipulated in acquisition with
7 CFR 3560.406) of Existing Direct rehabilitation. Transfer
Section 515 Housing or MPR. costs, including equity
payments, are subject to
Agency approval and must be an
eligible use of loan proceeds
in 7 CFR 3565.205.
Project Location Town or City.......... Town or city in which the
project is located.
Project County......................... County in which the project is
located.
Project State.......................... State in which the project is
located.
Project Zip Code....................... Insert zip code.
[[Page 30645]]
Project Congressional District......... Congressional District for
project location.
Project Name........................... Insert project name.
Project Type........................... Family, senior (all residents
55 years or older), or mixed.
Property Description and Proposed Provide as an attachment.
Development Schedule.
Total Project Development Cost......... Enter amount for total project.
of Units..................... Insert the of units
in the project.
Ratio of 3-5 bedroom units to total Insert percentage of 3-5
units. bedroom units to total units.
Cost Per Unit.......................... Total development cost divided
by of units.
Rent................................... Proposed rent structure.
Median Income for Community............ Provide median income for the
community.
Evidence of Site Control............... Attach relevant information.
Description of Any Environmental Issues Attach relevant information.
Loan Amount............................ Insert the loan amount.
Borrower's Proposed Equity............. Insert amount and source.
Tax Credits............................ Have tax credits been awarded?
If tax credits were awarded,
submit a copy of the award
NOFA/evidence of award with
your response.
If not, when do you anticipate
an award will be made
(announced)?
What is the [estimated] value
of the tax credits?
Letters of application and
commitment letters should be
included, if available.
Other Sources of Funds................. List all funding sources other
than tax credits and amounts
for each source, type, rates
and terms of loans or grant
funds.
Loan to Total Development Cost......... Guaranteed loan divided by the
total development costs of
project.
Debt Coverage Ratio.................... Net Operating Income divided by
debt service payments.
Percentage of Guarantee................ Percentage guarantee requested.
Collateral............................. Attach relevant information.
Colonia, Tribal Lands, or.............. Colonia, on an Indian
State's Consolidated Plan or State Reservation, or
Needs Assessment. in a place identified in the
State's Consolidated Plan or
State Needs Assessment as a
high need community for multi-
family housing.
Is the Property Located in a Federally If yes, please provide
Declared Disaster Area. documentation (i.e.,
Presidential Declaration
document).
Population............................. Provide the population of the
county, city, or town where
the project is or will be
located.
What type of guarantee is being Enter the type of guarantee.
requested, Permanent only (Option 1),
Construction and Permanent (Option 2)
or Continuous (Option 3)?.
Loan Term.............................. Minimum 25-year term.
Maximum 40-year term (includes
construction period).
May amortize up to 40 years.
Balloon mortgages permitted
after the 25th year.
------------------------------------------------------------------------
(3) The Proposed Borrower
(a) Lender certification that the borrower or principals of the
owner are not barred from participating in Federal housing programs and
are not delinquent on any Federal debt.
(b) Borrower's unaudited or audited financial statements.
(c) 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 response but must be submitted to the
National Office within 30 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.
Response Review Information
Scoring of Priority Criteria for Selection of Projects: All 2011
responses will be scored based on the criteria set forth below to
establish their priority for being selected for further processing. Per
7 CFR 3565.5 (b), priority will be given to projects: in smaller rural
communities, in the most needy communities having the highest
percentage of leveraging, having the lowest interest rate, or having
the highest ratio of 3-5 bedroom units to total units. In addition,
priority points will be given for projects involved in the Agency's MPR
or projects that are participating in specified energy efficient
programs.
The six priority scoring criteria for projects are listed below.
Priority 1--Projects located in eligible rural communities with the
lowest populations will receive the highest points.
------------------------------------------------------------------------
Population size Points
------------------------------------------------------------------------
0--5,000....................................................... 20
5,001--10,000 people........................................... 15
10,001--15,000 people.......................................... 10
15,001--20,000 people.......................................... 5
------------------------------------------------------------------------
Priority 2--The neediest communities as determined by the median
income from the most recent census data published by the United States
Department of Housing and Urban Development (``HUD''), will receive
points. The Agency will allocate points to projects located in
communities having the lowest median income. Points for median income
will be awarded as follows:
------------------------------------------------------------------------
Median income (dollars) Points
------------------------------------------------------------------------
Less than $45,000.............................................. 20
$45,000--less than $55,000..................................... 15
$55,000--less than $65,000..................................... 10
$65,000--less than $75,000..................................... 5
$75,000 or more................................................ 0
------------------------------------------------------------------------
Priority 3--Projects that demonstrate partnering and leveraging in
order to develop the maximum number of units
[[Page 30646]]
and promote partnerships with state and local communities will also
receive points. Points will be awarded as follows:
------------------------------------------------------------------------
Loan to total development cost ratio (percentage %) Points
------------------------------------------------------------------------
Less than 50................................................... 30
Less than 70--50............................................... 10
70 or more..................................................... 0
------------------------------------------------------------------------
Priority 4--The USDA Rural Development will award points to
projects with the highest ratio of 3-5 bedroom units to total units as
follows:
------------------------------------------------------------------------
Ratio of 3-5 bedroom units to total units Points
------------------------------------------------------------------------
More than 50%.................................................. 10
21%--50%....................................................... 5
Less than 21%-more than 0%..................................... 1
------------------------------------------------------------------------
Priority 5--NOFA responses for the revitalization, repair, and
transfer (as stipulated in 7 CFR 3560.406) of existing direct section
515 housing and properties involved in the Agency's MPR program
(transfer costs, including equity payments, are subject to Agency
approval and must be an eligible use of loan proceeds listed in 7 CFR
3565.205) will receive an additional 10 points.
Priority 6--Projects that are energy-efficient and certified by the
following programs will receive twenty (20) additional points:
(1) Green Communities sponsored by The Enterprise Foundation
(http://www.enterprisefoundation.org) or
(2) LEED for Homes Program by the U.S. Green Builders (USGBC)
(http://www.usgbc.org) or
(3) National Association of Home Builders (NAHB) ICC 700-2008
National Green Building Standard \TM\ (http://www.nahb.org) or
(4) Any other program, specific to a state or region that is
similar to the above three and is approved by the Agency.
Notifications: Responses will be reviewed for completeness and
eligibility. The USDA Rural Development will notify those lenders whose
responses are selected via a Notice to Proceed with Application
Processing letter. The USDA Rural Development will request lenders
without GRRHP lender approval to apply for GRRHP lender approval within
30 days upon receipt of notification of selection.
Lenders will also be invited to submit a complete application to
the USDA Rural Development State Office where the project is located.
Submission of GRRHP Applications: Notification letters will
instruct lenders to contact the USDA Rural Development State Office
immediately following notification of selection to schedule required
agency reviews.
USDA Rural Development State Office staff will work with lenders in
the development of an application package. The deadline for the
submission of a complete application is 90 days from the date of
notification of response selection. If the application is 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. The Agency may extend this 90-day deadline for receipt of
an application at its own discretion.
Award Administration Information
Obligation of Program Funds: The Agency will only obligate funds to
projects that meet the requirements for obligation under 7 CFR part
3565 and this NOFA, including having undergone a satisfactory
environmental review in accordance with the National Environmental
Protection Act (NEPA) and completed Form RD 3565-1 for the selected
project.
The Agency will prioritize the obligation requests using the
highest score and the procedures outlined as follows. The Agency will
select the responses that meet eligibility criteria and invite lenders
to submit complete applications to the Agency. Once a complete
application is received and approved, the Agency's State Office will
submit a request to obligate funds to the Agency's National Office.
Starting on the Friday following the date the annual appropriation bill
has passed, obligation requests submitted to the National Office will
be accumulated, but not obligated throughout the week until midnight
Eastern Time every Thursday. To the extent that funds remain available,
the Agency will obligate the requests accumulated through the weekly
request deadline of the previous week by the following Tuesday (i.e.,
requests received from Friday, May 13, 2011, to Thursday, May 19, 2011,
will be obligated by Tuesday, May 24, 2011). In the event of a tie,
priority will be given to the request for the project that: 1st--has
the highest percentage of leveraging (lowest Loan to Cost) and in the
event there is still a tie;--is in the smaller rural community.
Conditional Commitment: Once the required documents for obligation
are received and all NEPA and regulatory requirements have been met,
the USDA 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 USDA Rural Development 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.
Non-Discrimination Statement
USDA prohibits discrimination in all its programs and activities on
the basis of race, color, national origin, age, disability, and where
applicable, sex, marital status, religion, sexual orientation, genetic
information, political beliefs, reprisal, or because all or part of an
individual's income is derived from any public assistance program. (Not
all prohibited bases apply to all programs.) Persons with disabilities
who require alternative means for communication of program information
(Braille, large print, audiotape, etc.) should contact USDA's Target
Center at (202) 720-2600 (voice and TDD).
To file a complaint of discrimination, write to USDA, Director,
Office of Civil Rights, 1400 Independence Avenue, SW., Washington, DC
20250-9410, or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).
``USDA is an equal opportunity provider, employer, and lender.''
Dated: May 18, 2011.
Tammye H. Trevi[ntilde]o,
Administrator, Rural Housing Service.
[FR Doc. 2011-13012 Filed 5-25-11; 8:45 am]
BILLING CODE 3410-XV-P