Notice for Requests for Proposals for Guaranteed Loans Under the Section 538 Guaranteed Rural Rental Housing Program (GRRHP) for Fiscal Year 2005, 24372 [05-9156]
Download as PDF
<![CDATA[
24372
Federal Register / Vol. 70, No. 88 / Monday, May 9, 2005 / Notices
high probability of being accomplished.
The points awarded will be as specified
in paragraphs (1) through (4) of this
section. In each case, the intermediary’s
work plan must provide documentation
that the selection criteria have been met
in order to qualify for selection criteria
points. If an application does not fit one
of the categories listed, it receives no
points for that paragraph.
(1) Other funds. Points allowed under
this paragraph are to be based on
documented successful history or
written evidence that the funds are
available.
(a) The intermediary will obtain nonAgency loan or grant funds or provide
housing tax credits (measured in
dollars) to pay part of the cost of the
ultimate recipients’ project cost. Points
for the amount of funds from other
sources are as follows:
(i) At least 10% but less than 25% of
the total project cost—5 points;
(ii) At least 25% but less than 50% of
the total project cost—10 points; or
(iii) 50% or more of the total project
cost—15 points.
(b) The intermediary will provide
loans to the ultimate recipient from its
own funds (not loan or grant) to pay part
of the ultimate recipients’ project cost.
The amount of the intermediary’s own
funds will average:
(i) At least 10% but less than 25% of
the total project costs—5 points;
(ii) At least 25% but less than 50% of
total project costs—10 points; or
(iii) 50% or more of total project
costs—15 points.
(2) Intermediary contribution. All
assets of the PRLF will serve as security
for the PRLF loan, and the intermediary
will contribute funds not derived from
the Agency into the PRLF along with the
proceeds of the PRLF loan. The amount
of non-Agency derived funds
contributed to the PRLF will equal the
following percentage of the Agency
PRLF loan:
(a) At least 5% but less than 15%—
15 points;
(b) At least 15% but less than 25%—
30 points; or
(c) 25% or more—50 points.
(3) Experience. The intermediary has
actual experience in the administration
of revolving loan funds and the
preservation of multi-family housing,
with a successful record, for the
following number of full years.
Applicants must have actual experience
in both the administration of revolving
loan funds and the preservation of
multi-family housing in order to qualify
for points under this selection criteria.
If the number of years of experience
differs between the two types of
experience, the type with the least
VerDate jul<14>2003
17:20 May 06, 2005
Jkt 205001
number of years will be used for this
selection criteria.
(a) At least 1 but less than 3 years—
5 points;
(b) At least 3 but less than 5 years—
10 points;
(c) At least 5 but less than 10 years—
20 points; or
(d) 10 or more years—30 points.
(4) Administrative. The Administrator
may assign up to 35 additional points to
an application to account for the
following items not adequately covered
by the other priority criteria set out in
this section. The items that may be
considered are the amount of funds
requested in relation to the amount of
need; a particularly successful
affordable housing development record;
a service area with no other PRLF
coverage; a service area with severe
affordable housing problems; a service
area with emergency conditions caused
by a natural disaster; an innovative
proposal; the quality of the proposed
program; a work plan that is in accord
with a strategic plan, particularly a plan
prepared as part of a request for an
Empowerment Zone/Enterprise
Community designation; or excellent
utilization of an existing revolving loan
fund program.
Dated: May 2, 2005.
Russell T. Davis,
Administrator, Rural Housing Service.
[FR Doc. 05–9155 Filed 5–6–05; 8:45 am]
BILLING CODE 3410–XV–P
DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice for Requests for Proposals for
Guaranteed Loans Under the Section
538 Guaranteed Rural Rental Housing
Program (GRRHP) for Fiscal Year 2005
2005, with the highest scoring responses
receiving priority as long as funds
remain available. These corrections are
also intended to ensure that the Agency
will continue to select the highest
scoring Notice responses received after
June 13, 2005, notwithstanding the
score, as long as the response meets
program criteria and funds remain
available.
Accordingly, the Notice published on
March 14, 2005 (70 FR 12569–12575), is
corrected as follows:
On page 12569, in the first column,
fourth paragraph, under the heading
DATES, the fourth sentence is corrected
to read as follows: ‘‘Each month after
June 13, 2005, the Agency will select the
highest scoring proposals, in light of the
remaining funding, until all funds are
expended.’’
On page 12569, in the second column,
under the heading DATES, the fifth
sentence, ‘‘Priority for the selection of
proposals that meet the threshold score
of 25 will be given to the highest scoring
proposals,’’ is removed.
On page 12574, in the first column,
first paragraph, under the heading
‘‘Scoring of Priority Criteria for
Selection of Projects,’’ the fifth sentence
is corrected to read as follows: ‘‘Each
month after June 13, 2005, the Agency
will select the highest scoring proposals,
in light of the remaining funding, until
all funds are expended.’’
On page 12574, in the first column,
first paragraph, under the heading
‘‘Scoring of Priority Criteria for
Selection of Projects,’’ the sixth
sentence, ‘‘Priority for the selection of
proposals that meet the threshold score
of 25 will be given to the highest scoring
proposals,’’ is removed.
AGENCY:
Dated: April 8, 2005.
Russell T. Davis,
Administrator, Rural Housing Service.
[FR Doc. 05–9156 Filed 5–6–05; 8:45 am]
ACTION:
BILLING CODE 3410–XV–P
Rural Housing Service, USDA.
Notice; correction.
SUMMARY: The Rural Housing Service
(RHS) is correcting a notice published
March 14, 2005 (70 FR 12569–12575).
This action is taken to correct language
that purports that Notice responses that
score less than 25 points or score 25
points or more but have a development
cost ratio of equal to or more than 70
percent may not be selected for further
processing and obligation after June 13,
2005. These corrections are intended to
ensure that all Notice responses
received prior to June 13, 2005, and that
meet program criteria, but score less
than 25 points or score 25 points or
more but have a development cost ratio
of equal to or more than 70 percent may
be selected for obligation after June 13,
PO 00000
Frm 00007
Fmt 4703
Sfmt 4703
DEPARTMENT OF COMMERCE
Submission for OMB Review;
Comment Request
The Department of Commerce has
submitted to the Office of Management
and Budget (OMB) for clearance the
following proposal for collection of
information under the provisions of the
Paperwork Reduction Act (44 U.S.C.
3501 et seq.).
Agency: Economic Development
Administration.
Title: Award for Excellence in
Economic Development.
Form Number(s):
E:\FR\FM\09MYN1.SGM
09MYN1
]]>Agencies
[Federal Register Volume 70, Number 88 (Monday, May 9, 2005)]
[Notices]
[Page 24372]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-9156]
-----------------------------------------------------------------------
DEPARTMENT OF AGRICULTURE
Rural Housing Service
Notice for Requests for Proposals for Guaranteed Loans Under the
Section 538 Guaranteed Rural Rental Housing Program (GRRHP) for Fiscal
Year 2005
AGENCY: Rural Housing Service, USDA.
ACTION: Notice; correction.
-----------------------------------------------------------------------
SUMMARY: The Rural Housing Service (RHS) is correcting a notice
published March 14, 2005 (70 FR 12569-12575). This action is taken to
correct language that purports that Notice responses that score less
than 25 points or score 25 points or more but have a development cost
ratio of equal to or more than 70 percent may not be selected for
further processing and obligation after June 13, 2005. These
corrections are intended to ensure that all Notice responses received
prior to June 13, 2005, and that meet program criteria, but score less
than 25 points or score 25 points or more but have a development cost
ratio of equal to or more than 70 percent may be selected for
obligation after June 13, 2005, with the highest scoring responses
receiving priority as long as funds remain available. These corrections
are also intended to ensure that the Agency will continue to select the
highest scoring Notice responses received after June 13, 2005,
notwithstanding the score, as long as the response meets program
criteria and funds remain available.
Accordingly, the Notice published on March 14, 2005 (70 FR 12569-
12575), is corrected as follows:
On page 12569, in the first column, fourth paragraph, under the
heading DATES, the fourth sentence is corrected to read as follows:
``Each month after June 13, 2005, the Agency will select the highest
scoring proposals, in light of the remaining funding, until all funds
are expended.''
On page 12569, in the second column, under the heading DATES, the
fifth sentence, ``Priority for the selection of proposals that meet the
threshold score of 25 will be given to the highest scoring proposals,''
is removed.
On page 12574, in the first column, first paragraph, under the
heading ``Scoring of Priority Criteria for Selection of Projects,'' the
fifth sentence is corrected to read as follows: ``Each month after June
13, 2005, the Agency will select the highest scoring proposals, in
light of the remaining funding, until all funds are expended.''
On page 12574, in the first column, first paragraph, under the
heading ``Scoring of Priority Criteria for Selection of Projects,'' the
sixth sentence, ``Priority for the selection of proposals that meet the
threshold score of 25 will be given to the highest scoring proposals,''
is removed.
Dated: April 8, 2005.
Russell T. Davis,
Administrator, Rural Housing Service.
[FR Doc. 05-9156 Filed 5-6-05; 8:45 am]
BILLING CODE 3410-XV-P
