[Federal Register Volume 82, Number 70 (Thursday, April 13, 2017)]
[Notices]
[Pages 17851-17852]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-07487]
[[Page 17851]]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
[Docket No. FR-6019-N-01]
Housing Trust Fund Federal Register Allocation Notice
AGENCY: Office of the Assistant Secretary for Community Planning and
Development, HUD.
ACTION: Notice of corrected fiscal year 2016 funding allocations.
-----------------------------------------------------------------------
SUMMARY: The Housing and Economic Recovery Act of 2008 (HERA)
established the Housing Trust Fund (HTF) to be administered by HUD.
Pursuant to the Federal Housing Enterprises Financial Security and
Soundness Act of 1992 (the Act), as amended by HERA, Division A,
eligible HTF grantees are the 50 states, the District of Columbia, the
Commonwealth of Puerto Rico, American Samoa, Guam, the Commonwealth of
Northern Mariana Islands, and the United States Virgin Islands.
FOR FURTHER INFORMATION CONTACT: Virginia Sardone, Director, Office of
Affordable Housing Programs, Room 7164, Department of Housing and Urban
Development, 451 Seventh Street SW., Washington, DC 20410-7000;
telephone (202) 708-2684. (This is not a toll-free number.) A
telecommunications device for hearing- and speech-impaired persons
(TTY) is available at 800-877-8339 (Federal Information Relay Service).
SUPPLEMENTARY INFORMATION: Section 1131 of HERA Division A amended the
Act to add a new section 1337 entitled ``Affordable Housing
Allocations'' and a new section 1338 entitled ``Housing Trust Fund.''
HUD's implementing regulations are codified at 24 CFR part 93. In
accordance with Section 1338(c)(4)(A) of the Act, this notice announces
the formula allocation amount for each eligible HTF grantee.
Congress authorized the HTF with the stated purpose of: (1)
Increasing and preserving the supply of rental housing for extremely
low-income families with incomes between 0 and 30 percent of area
median income and very low-income families with incomes between 30 and
50 percent of area median income, including homeless families, and (2)
increasing homeownership for extremely low-income and very low-income
families.
Section 1337 of the Act provides for the HTF (and other programs)
to be funded with an affordable housing set aside by Fannie Mae and
Freddie Mac. The total set-aside amount is equal to 4.2 basis points
(.042 percent) of Fannie Mae and Freddie Mac's new mortgage purchases,
a portion of which is for the HTF.
Section 1338 of the Act directs HUD to establish, through
regulation, the formula for distribution of amounts made available for
the HTF. The statute specifies the factors to be used for the formula
and priority for certain factors. The factors and methodology HUD uses
to allocate HTF funds among eligible grantees are established in the
HTF regulation. HTF formula allocations for Fiscal Year 2016 totaling
$173,591,160 were announced in the Federal Register on May 5, 2016 (81
FR 27165). After announcing these formula allocations, HUD discovered
an error in its calculations for American Samoa, Guam, the Commonwealth
of Northern Mariana Islands, and the United States Virgin Islands. HUD
allocates HTF resources for these four Insular Areas on a pro rata
demographic basis because comparable housing needs data do not exist
for such jurisdictions. In determining the Fiscal Year 2016 HTF
allocations, HUD inadvertently used renter populations data rather than
renter households data, so that the pro rata allocation for each
Insular Area was based on the ratio of between its renter population
and the national total of renter households. This error inflated the
allocations for Insular Areas in the aggregate amount of $120,913. The
over-allocation to Insular Areas occurred at the expense of certain
states for which allocations were reduced to ensure that other states
reached the $3,000,000 minimum. HUD is required to correct the error
for the Fiscal Year 2016 HTF grants. Accordingly, the HTF allocations
for the Insular Areas are reduced as follows: America Samoa, -$9,567;
Guam -$55,330; Northern Marianas, -$23,470; and Virgin Islands, -
$32,546. In addition, the formula allocations for 15 states and the
Commonwealth of Puerto Rico increased slightly. Appendix A to this
notice provides the names and the corrected amounts of the Fiscal Year
2016 HTF awards.
Dated: April 10, 2017.
Clifford Taffet,
General Deputy Assistant Secretary for Community Planning and
Development.
Appendix A: FY 2016 Housing Trust Fund Allocation Amounts
----------------------------------------------------------------------------------------------------------------
Original FY 2016 Corrected FY 2016 Percent difference
Name formula allocation formula allocation Difference (%)
----------------------------------------------------------------------------------------------------------------
Alabama......................... $3,000,000.00 $3,000,000.00 $0.00 0.00
Alaska.......................... 3,000,000.00 3,000,000.00 0.00 0.00
Arizona......................... 3,000,000.00 3,000,000.00 0.00 0.00
Arkansas........................ 3,000,000.00 3,000,000.00 0.00 0.00
California...................... 10,128,144.00 10,156,439.59 28,295.59 0.28
Colorado........................ 3,000,000.00 3,000,000.00 0.00 0.00
Connecticut..................... 3,000,000.00 3,000,000.00 0.00 0.00
Delaware........................ 3,000,000.00 3,000,000.00 0.00 0.00
District of Columbia............ 3,000,000.00 3,000,000.00 0.00 0.00
Florida......................... 4,598,821.00 4,607,302.00 8,481.00 0.18
Georgia......................... 3,314,612.00 3,318,674.00 4,062.00 0.12
Hawaii.......................... 3,000,000.00 3,000,000.00 0.00 0.00
Idaho........................... 3,000,000.00 3,000,000.00 0.00 0.00
Illinois........................ 4,302,012.00 4,310,055.00 8,043.00 0.19
Indiana......................... 3,000,000.00 3,000,000.00 0.00 0.00
Iowa............................ 3,000,000.00 3,000,000.00 0.00 0.00
Kansas.......................... 3,000,000.00 3,000,000.00 0.00 0.00
Kentucky........................ 3,000,000.00 3,000,000.00 0.00 0.00
Louisiana....................... 3,000,000.00 3,000,000.00 0.00 0.00
Maine........................... 3,000,000.00 3,000,000.00 0.00 0.00
Maryland........................ 3,000,000.00 3,000,000.00 0.00 0.00
Massachusetts................... 3,419,569.00 3,423,773.00 4,204.00 0.12
[[Page 17852]]
Michigan........................ 3,522,622.00 3,527,747.00 5,125.00 0.15
Minnesota....................... 3,000,000.00 3,000,000.00 0.00 0.00
Mississippi..................... 3,000,000.00 3,000,000.00 0.00 0.00
Missouri........................ 3,000,000.00 3,000,000.00 0.00 0.00
Montana......................... 3,000,000.00 3,000,000.00 0.00 0.00
Nebraska........................ 3,000,000.00 3,000,000.00 0.00 0.00
Nevada.......................... 3,000,000.00 3,000,000.00 0.00 0.00
New Hampshire................... 3,000,000.00 3,000,000.00 0.00 0.00
New Jersey...................... 3,733,566.00 3,738,267.00 4,701.00 0.13
New Mexico...................... 3,000,000.00 3,000,000.00 0.00 0.00
New York........................ 7,013,963.00 7,033,924.00 19,961.00 0.28
North Carolina.................. 3,280,235.00 3,284,215.00 3,980.00 0.12
North Dakota.................... 3,000,000.00 3,000,000.00 0.00 0.00
Ohio............................ 3,740,578.00 3,747,502.00 6,924.00 0.19
Oklahoma........................ 3,000,000.00 3,000,000.00 0.00 0.00
Oregon.......................... 3,000,000.00 3,000,000.00 0.00 0.00
Pennsylvania.................... 3,862,285.00 3,868,768.00 6,483.00 0.17
Rhode Island.................... 3,000,000.00 3,000,000.00 0.00 0.00
South Carolina.................. 3,000,000.00 3,000,000.00 0.00 0.00
South Dakota.................... 3,000,000.00 3,000,000.00 0.00 0.00
Tennessee....................... 3,000,000.00 3,000,000.00 0.00 0.00
Texas........................... 4,778,364.00 4,789,476.00 11,112.00 0.23
Utah............................ 3,000,000.00 3,000,000.00 0.00 0.00
Vermont......................... 3,000,000.00 3,000,000.00 0.00 0.00
Virginia........................ 3,139,830.00 3,142,439.00 2,609.00 0.08
Washington...................... 3,243,721.00 3,246,662.00 2,941.00 0.09
West Virginia................... 3,000,000.00 3,000,000.00 0.00 0.00
Wisconsin....................... 3,004,558.00 3,007,084.00 2,526.00 0.08
Wyoming......................... 3,000,000.00 3,000,000.00 0.00 0.00
Puerto Rico..................... 326,054.00 327,519.00 1,465.00 0.45
America Samoa................... 12,321.00 2,754.00 -9,567.00 -77.65
Guam............................ 77,609.00 22,279.00 -55,330.00 -71.29
Northern Marianas............... 35,735.00 12,265.00 -23,470.00 -65.68
Virgin Islands.................. 56,562.00 24,016.00 -32,546.00 -57.54
----------------------------------------------------------------------------------------------------------------
[FR Doc. 2017-07487 Filed 4-12-17; 8:45 am]
BILLING CODE 4210-67-P