[Federal Register Volume 79, Number 98 (Wednesday, May 21, 2014)]
[Notices]
[Pages 29159-29165]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-11733]
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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 2014
AGENCY: Rural Housing Service, USDA.
ACTION: NOFA.
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[[Page 29160]]
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) 2014. The Consolidated Appropriations
Act, 2014, Public Law 113-76 (January 17, 2014) appropriated $150
million in FY 2014. The commitment of program dollars will be made
first to approved and complete applications from prior years' notices,
then to applicants of selected responses in the order they are ranked
under this Notice that have fulfilled the necessary requirements for
obligation. Successful applications will be selected by the Agency for
funding and subsequently awarded to the extent that funding may
ultimately be made available to the Agency through appropriations.
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 Notice, eligible lenders may submit a complete
application concurrently with the response. Submitting a complete
application will not have any effect on the respondent's response
score.
DATES: Eligible responses to this Notice will be accepted until
December 31, 2015, 12:00 p.m. Eastern Time. Selected responses that
develop into complete applications and meet all Federal eligibility
requirements prior to September 30, 2014 will receive conditional
commitments until all FY 2014 funds are expended. Selected responses to
this Notice that are deemed eligible for further processing after
September 30, 2014, will be funded to the extent an appropriation act
provides sufficient funding in the fiscal year the response is
selected. Responses are subject to the fee structure in effect on the
fiscal year they are selected.
Eligible lenders mailing a response or application must provide
sufficient time to permit delivery to the appropriate submission
address below 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, may be found at http://www.rurdev.usda.gov/recd_map.html.
Note: Telephone numbers listed there are not toll-free.
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-S, STOP 0781,
1400 Independence Avenue SW., Washington, DC 20250-0781 or email:
[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 31, 2015, 12:00 p.m. Eastern
Time.
I. 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
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 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 Notice.
Prior years' responses that were selected by the Agency, with a
complete application 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 FY 2014 program dollars
without having to complete a FY 2014 response. A complete application
includes all Federal environmental documents required by 7 CFR part
1940, subpart G, and a Form RD 3565-1, ``Application for Loan and
Guarantee.'' Any approved applications originating from FY 2013 and
previous fiscal years (outstanding prior years approved applications)
that are obligated in FY 2014, however, are subject to ``PROGRAM FEES
FOR FY 2014'' section in this Notice. Outstanding prior years approved
applications will be obligated to the extent of available funding in
order of priority score with the highest scores obligated first. The
scores the applications received under the NOFA the year the
application was submitted will be used for the ranking. In the case of
tied scores, the project with the greatest leveraging (lowest loan to
cost ratio) will receive selection priority. Once the outstanding prior
years approved applications have been funded, the Agency will select FY
2014 responses for further processing in rank order as determined by
the scoring criteria set forth in this Notice to the extent that funds
remain available.
II. Award Information
Anyone interested in submitting an application for funding under
this program is encouraged to consult the Rural Development Web site
http://www.rurdev.usda.gov/HAD-Guaranteed_Rental_Loans.html
periodically for updated information regarding the status of funding
authorized for this program.
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
and Section 514/516 Farm Labor Housing (FLH) (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
Multi-Family Preservation and Revitalization (MPR) program. Equity
payment, as stipulated in 7 CFR 3560.406, in the transfer of existing
direct Section 515 and Section 514/516 FLH, is an eligible use of
guaranteed loan proceeds. In order to be considered, the transfer of
Section 515 and Section 514/516 FLH and MPR projects must need repairs
and undergo
[[Page 29161]]
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 Partnerships Program (HOME)
grant funds, tax exempt bonds, and Low Income Housing Tax Credits
(LIHTC).
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: All new multi-family housing projects financed
in whole or in part by the USDA, are 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 7 under the ``Scoring of Priority Criteria for Selection of
Projects'' section of this Notice may receive a maximum of 25
additional points added to their project score. Participation in these
nationwide initiatives is voluntary, but strongly encouraged.
Interest Credit: The Consolidated Appropriations Act, 2014 did not
fund interest credit.
Program Fees for FY 2014: The Consolidated Appropriations Act,
2014, Public Law 113-76 (January 17, 2014) continued the provision
``That to support the loan program level for Section 538 guaranteed
loans made available under this heading the Secretary may charge or
adjust any fees to cover the projected cost of such loan guarantees
pursuant to the provisions of the Credit Reform Act of 1990 (2 U.S.C.
661 et seq), and the interest on such loans may not be subsidized.''
The following fees have been determined necessary to cover the
projected cost of such loan guarantees for FY 2014. These fees may be
adjusted in future years to cover the projected costs of loan
guarantees in those future years or additional fees may be charged.
These fees are also applicable to all outstanding prior years'
responses funded with FY 2014 funds. The fees are as follows:
1. Initial guarantee fee. The Agency will charge an initial
guarantee fee equal to 1 percent of the guarantee principal amount. For
purposes of calculating this fee, the guarantee amount is the product
of the percentage of the guarantee times the initial principal amount
of the guaranteed loan.
2. Annual guarantee fee. An annual guarantee fee of 50 basis points
(\1/2\ percent) of the outstanding principal amount of the loan as of
December 31 will be charged each year or portion of a year that the
guarantee is outstanding.
3. As permitted under 7 CFR 3565.302(b)(5), there is a non-
refundable service fee of $1,500 for the review and approval of a
lender's first request to extend the term of a guarantee commitment
beyond its original expiration (the request must be received by the
Agency prior to the commitment's expiration). For any subsequent
extension request, the fee will be $2,500.
4. As permitted under 7 CFR 3565.302(b)(5), there is a non-
refundable service fee of $3,500 for the review and approval of a
lender's first request to reopen an application when a commitment has
expired. For any subsequent extension request to reopen an application
after the commitment has expired, the fee will be $3,500.
5. As permitted under 7 CFR 3565.302(b)(4), there is a non-
refundable service fee of $1,500 in connection with a lender's request
to approve the transfer of property or a change in composition of the
ownership entity.
6. There is no application fee.
7. There is no lender application fee for lender approval.
8. There is no surcharge for the guarantee of construction
advances.
III. 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 that section 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.
Lenders whose responses are selected will be notified by the Agency
to submit a request for GRRHP lender approval within 30 days of
notification. Lenders who request GRRHP approval must meet the
standards in 7 CFR 3565.103.
Lenders that have received GRRHP lender approval that remain 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-
S, 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.
IV. Application and Submission Information
NOFA responses can be submitted either electronically using the
Section 538 electronic NOFA response form found at: http://www.rurdev.usda.gov/HAD-Guaranteed_Rental_Loans.html or in hard copy
and submitted to the appropriate Rural Development State Office where
the project will be located. USDA Rural Development State Offices,
their addresses, and telephone numbers may be found at http://www.rurdev.usda.gov/recd_map.html, Note: Telephone numbers listed are
not toll-free. Applicants are strongly encouraged, but not required, to
submit the NOFA response electronically.
The electronic form contains a button labeled ``Send Form.'' By
clicking on the button, the applicant will see an email message window
with an attachment that includes the electronic form the applicant
filled out as a data file with an .fdf extension. In addition, an auto-
reply acknowledgement will be sent to the applicant when the electronic
NOFA Response form is received by the Agency unless the sender has
software that will block the receipt of the auto-reply email. The State
Office will record NOFA responses received electronically by the actual
date and time when all attachments are received at the State Office.
Submission of the electronic Section 538 NOFA response form does
not constitute submission of the entire application package which
requires additional forms and supporting documentation.
Content of Responses: All responses require lender information and
project specific data as set out in this Notice. Incomplete responses
will not be considered for funding. Lenders will be notified of
incomplete responses no
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later than 30 calendar days from the date of receipt of the response by
the Agency. Complete responses are to include a signed cover letter
from the lender, on the lender's letterhead. 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 number.
Lender Contact Name.................... Name of the lender contact for
loan.
Mailing Address........................ Lender's complete mailing
address.
Phone ........................ Phone number for lender
contact.
Fax .......................... Insert lender's fax number.
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
number.
Borrower DUNS ................ Insert DUNS number.
Borrower Address, including County..... Insert borrower's address and
county.
Borrower Phone , fax Insert borrower's phone number,
and e-mail address. 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. new construction or
acquisition with
rehabilitation.
Revitalization, Repair, and Transfer Yes or No (Transfer costs,
(as stipulated in 7 CFR 3560.406) of including equity payments, are
Existing Direct Section 515 and subject to Agency approval and
Section 514/516 FLH or MPR. 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 where the
project is located.
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 number 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 number 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/
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 State's Colonia, on an Indian
Consolidated Plan or State Needs Reservation, or in a place
Assessment. 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.
[[Page 29163]]
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.
Participation in Energy Efficient Initial checklist indicating
Programs. prerequisites to register for
participation in a particular
energy efficient program. All
checklists must be accompanied
by a signed affidavit by the
project architect stating that
the goals are achievable. If
property management is
certified for green property
management, the certification
must be provided.
------------------------------------------------------------------------
(3) The Proposed Borrower Information:
(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: (6) (5) Competitive Criteria: Information
that shows how the proposal is responsive to the selection criteria
specified in this Notice.
V. Application Review Information
Scoring of Priority Criteria for Selection: All FY 2014 responses
will be scored based on the criteria set forth below to establish their
priority 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, as permitted in 7 CFR 3565.5(b), in order
to meet important program goals, priority points will be given for
projects that include LIHTC funding and projects that are participating
in specified energy efficient programs.
The seven 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.
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Population size Points
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0-5,000....................................................... 30
5,001-10,000 people........................................... 15
10,001-15,000 people.......................................... 10
15,001-20,000 people.......................................... 5
20,001-35,000 people.......................................... 0
------------------------------------------------------------------------
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:
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Median income (dollars) Points
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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 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 25.................................................. 60
Less than 50 to 25............................................ 30
Less than 70 to 50............................................ 10
70 or more.................................................... 0
------------------------------------------------------------------------
Priority 4--Responses that include equity from low income housing
tax credits will receive an additional 50 points.
Priority 5--The USDA Rural Development will award points to
projects with the highest ratio of 3-5 bedroom units to total units as
follows:
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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 6--Responses for the revitalization, repair, and transfer
(as stipulated in 7 CFR 3560.406) of existing direct Section 515 and
Section 514/516 FLH 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. If the transfer of
existing Section 515 and Section 514/516 FLH properties includes equity
payments, 0 points will be awarded.
Priority 7--Energy Efficiency:
(A) Projects that are energy-efficient and registered for
participation in the following programs will receive points as
indicated up to a maximum of 25 points. Each program has an initial
checklist indicating prerequisites for participation. Each applicant
must provide a checklist establishing that the prerequisites for each
program's participation will be met. Additional points will be awarded
for checklists that achieve higher levels of energy efficiency
certification as set forth below. All checklists must be accompanied by
a signed affidavit by the project architect stating that the goals are
achievable. Points will be awarded for the listed programs as follows.
Because Energy Star for Homes is a requirement within other programs
such as LEED and Green Communities, points will only be awarded
separately for Energy Star for Homes if it is the only program in which
the project is enrolled, excluding local programs that do not require
participation in Energy Star for Homes:
Energy Star for Homes--5 points;
Green Communities by the Enterprise Community Partners
(www.enterprisefoundation.org)--10 points;
LEED for Homes program by the U.S. Green Building Council
(USGBC)
[[Page 29164]]
(www.usgbc.org)--Certified (10 points), Silver (12 points), Gold (15
points), or Platinum (25 points);
Home Innovation's National Green Building
StandardTM (NGBS) certification program
(www.homeinnovation.com/green)--Bronze (10 points), Silver (12 points),
Gold (15 points), or Emerald (25 points); or
A State or local green building program--2 points
(B) Projects that will be managed by a property management company
that are certified green property management companies will receive 5
points.
Applicants must provide proof of certification. Certification may
be achieved through one of the following programs:
National Apartment Association, Credential for Green
Property Management (CGPM); www.naahq.org/EDUCATION/DESIGNATIONPROGRAMS/OTHER/Pages/default.aspx;
National Affordable Housing Management Association
(NAHMA), Credential for Green Property Management (CGPM);
www.nahma.org/content/greencred.html; or
U.S. Green Building Council (USGBC), Green Building
Certification Institute (GBCI) LEED AP (any discipline) or LEED Green
Associate; www.gbci.org.
(C) Energy Generation (maximum 5 points). Pre-applications for new
construction or purchase and rehabilitation of non-program multi-family
projects which participate in the Energy Star for Homes V3 Program,
Green Communities, LEED for Homes or NAHB's National Green Building
Standard (ICC-700) 2008, receive at least 8 points for Energy
Conservation measures (if limited rehabilitation only) in the point
allocations above are eligible to earn additional points for
installation of on-site renewable energy sources. In order to receive
more than 1 point for this energy generation section, an accurate
energy analysis prepared by an engineer will need to be submitted with
the pre-application. Energy analysis of preliminary building plans
using industry-recognized simulation software must document the
projected total energy consumption of the building, the portion of the
building consumption which will be satisfied through on-site generation
and the building's Home Energy Rating System (HERS) score.
Projects with an energy analysis of the preliminary or
rehabilitation building plans that propose a 10 percent to 100 percent
energy generation commitment (where generation is considered to be the
total amount of energy needed to be generated on-site to make the
building a net-zero consumer of energy) will be awarded points as
follows:
(a) 0 to 9 percent commitment to energy generation
receives 0 points;
(b) 10 to 29 percent commitment to energy generation
receives 1 point;
(c) 30 to 49 percent commitment to energy generation
receives 2 points;
(d) 50 to 69 percent commitment to energy generation
receives 3 points;
(e) 70 to 89 percent commitment to energy generation
receives 4 points;
(f) 90 percent or more commitment to energy generation
receives 5 points.
Notifications: Responses will be reviewed for completeness and
eligibility. The Agency will notify those lenders whose responses are
selected via a Notice to Proceed with Application Processing letter.
The Agency 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 calendar days from the date
of notification of response selection. If the application is not
received by the appropriate State Office within 90 calendar 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.
VI. 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 NOFA is published;
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 16, 2014, to Thursday, May 22, 2014,
will be obligated by Tuesday, May 27, 2014). 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 against its customers, employees, and
applicants for employment on the bases of race, color, national origin,
age, disability, sex, gender identity, religion, reprisal and, where
applicable, political beliefs, marital status, familial or parental
status, sexual orientation, or if all or part of an individual's income
is derived from any public assistance program, or protected genetic
information in employment or in any program or activity conducted or
funded by the Department. (Not all prohibited bases will apply to all
programs and/or employment activities.)
If you wish to file a Civil Rights program complaint of
discrimination, complete the USDA Program Discrimination Complaint
Form, found online at http://www.ascr.usda.gov/
[[Page 29165]]
complaint--filing--cust.html, or at any USDA office, or call (866) 632-
9992 to request the form. You may also write a letter containing all of
the information requested in the form. Send your completed complaint
form or letter to us by mail at U.S. Department of Agriculture,
Director, Office of Adjudication, 1400 Independence Avenue SW.,
Washington, DC 20250-9410, by fax (202) 690-7442 or email at
[email protected].
Individuals who are deaf, hard of hearing, or have speech
disabilities and wish to file either an EEO or program complaint please
contact USDA through the Federal Relay Service at (800) 877-8339 or
(800) 845-6136 (in Spanish). Persons with disabilities, who wish to
file a program complaint, please see information above on how to
contact us by mail directly or by email. If you require alternative
means of communication for program information (e.g., Braille, large
print, audiotape, etc.) please contact USDA's TARGET Center at (202)
720-2600 (voice and TDD). ``USDA is an equal opportunity provider,
employer, and lender.''
Dated: May 15, 2014.
Tony Hernandez,
Administrator, Housing and Community Facilities Programs.
[FR Doc. 2014-11733 Filed 5-20-14; 8:45 am]
BILLING CODE 3410-XV-P