Region II Buffalo District Advisory Council; Public Meeting, 18600 [E8-7063]

Download as PDF 18600 Federal Register / Vol. 73, No. 66 / Friday, April 4, 2008 / Notices Dated: March 31, 2008. Steven C. Preston, Administrator. [FR Doc. E8–7002 Filed 4–3–08; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Liquidation and Debt Collection Activities; Fees for Liquidation Activities Performed by Authorized CDC Liquidators U.S. Small Business Administration (SBA). ACTION: Notice of Compensation Fees Percentages. AGENCY: SUMMARY: SBA is setting the compensation fees for Authorized CDC Liquidators (‘‘ACLs’’) for their liquidation activities on 504 loans that have been completed as of the date of this notice, and for ongoing liquidation activities being pursued according to an approved liquidation plan, at 10% of the net recovery proceeds realized from the sale of collateral or other liquidation actions on an individual loan up to $25,000 for each such loan and 5% of the realized net recovery proceeds above such amounts. SBA is also setting compensation fees for liquidations by ACLs of 504 loans where the debenture was purchased during the period after May 14, 2007, through the date of this notice, and for which a liquidation plan has not yet been approved by SBA, at 4% of the net recovery proceeds realized from the sale of collateral or other liquidation action on an individual loan up to $25,000 for each such loan and 2% of the realized net recovery proceeds above such amounts. DATES: These compensation fee percentages are effective as of April 4, 2008. FOR FURTHER INFORMATION CONTACT: Walter Intlekofer, Chief, Portfolio Management Division, (202) 205–7543, walter.intlekofer@sba.gov. ebenthall on PRODPC61 with NOTICES SUPPLEMENTARY INFORMATION: On April 12, 2007, SBA published in the Federal Register at 72 FR 18349, a final rule amending the regulations pertaining to guaranteed loan and debenture liquidation and litigation cases for the Certified Development Company Program and the 7(a) Guaranteed Loan Program. This final rule had an effective date of May 14, 2007. In Section 120.542(c) of the amended regulations, SBA published the formula for determining the compensation fee that SBA would pay to Authorized CDC Liquidators for their liquidation actions on 504 loans. SBA VerDate Aug<31>2005 15:24 Apr 03, 2008 Jkt 214001 stated that the compensation fee was to be a percentage (to be published in the Federal Register from time to time, but not to exceed 10%) of the net recovery proceeds realized from the sale of collateral or other liquidation activities, on an individual loan, up to a fee of $25,000 for such loan, and a lower percentage (also to be published in the Federal Register from time to time, but not to exceed 5%) of the realized net recovery proceeds above such amounts. SBA recognizes that some ACLs have been performing liquidation activities on certain 504 loans since the publication of the final rule. Therefore, SBA will provide compensation from its administrative budget and on an interim basis, is setting the liquidation compensation percentages as follows: For all liquidations of 504 loans that have been completed by an ACL as of the date of this notice, where the liquidation plan was approved by SBA after the date the CDC became an ACL, SBA will pay a compensation fee of 10% of the net recovery proceeds realized from the sale of collateral or other liquidation actions on an individual loan up to $25,000 for each such loan and 5% of the realized net recovery proceeds above such amounts. For all liquidations currently in progress that are being pursued by an ACL in accordance with an SBA approved liquidation plan that was approved after the date the CDC became an ACL, SBA will pay a compensation fee of 10% of the net recovery proceeds realized from the sale of collateral or other liquidation actions on an individual loan up to $25,000 for each such loan and 5% of the realized net recovery proceeds above such amounts. For all liquidations by an ACL on 504 loans for which the debentures were purchased after May 14, 2007 (the effective date of the final rule), through the date of this notice, and for which a liquidation plan has not yet been approved, SBA will pay a compensation fee of 4% of the net recovery proceeds realized from the sale of collateral or other liquidation actions on an individual loan up to $25,000 for each such loan and 2% of the realized net recovery proceeds above such amounts. Liquidation plans for these loans must be submitted to SBA Commercial Loan Centers in Fresno, CA or Little Rock, AK within 90 calendar days from the date of this notice. For any 504 loan for which the debenture has not yet been purchased, SBA is unable to pay any compensation fees at this time. Any future change will be communicated in the Federal Register. PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 Pursuant to 13 CFR 120.542(c), all requests for compensation fees must be received by SBA within nine months from the date of SBA’s purchase of the defaulted debenture. Fee requests not received within such timeframe will be automatically rejected. Authority: 13 CFR 120.542. Grady Hedgespeth, Director of Financial Assistance. [FR Doc. E8–7067 Filed 4–3–08; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Region II Buffalo District Advisory Council; Public Meeting The U.S. Small Business Administration Region II Buffalo District Advisory Council located in the geographical area of Buffalo, New York, will hold a public meeting on Wednesday, April 9, 2008, starting at 10 a.m. eastern standard time. The meeting will take place at HSBC Bank USA, One HSBC Center, Buffalo, New York to discuss such matters that may be presented by members, and staff of the U.S. Small Business Administration, or others present. Anyone wishing to make an oral presentation to the Board must contact Franklin J. Sciortino, District Director, Buffalo District Office, in writing by letter or fax no later than Friday, April 4, 2008 in order to be put on the agenda. Franklin J. Sciortino, District Director, Buffalo District Office, U.S. Small Business Administration, Niagara Center, 540 Niagara Center, 130 S. Elmwood Avenue, Buffalo, New York 14202; telephone (716) 551–4301 or fax (716) 551–4418. Cherylyn H. Lebon, Committee Management Officer. [FR Doc. E8–7063 Filed 4–3–08; 8:45 am] BILLING CODE 8025–01–P OFFICE OF SPECIAL COUNSEL Agency Information Collection Activities; Request for Comment Office of Special Counsel. First Notice. AGENCY: ACTION: SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), and implementing regulations at 5 CFR part 1320, the U.S. Office of Special Counsel (OSC), plans to request approval from the Office of Management and Budget (OMB) for use of four previously approved information collections consisting of complaint E:\FR\FM\04APN1.SGM 04APN1

Agencies

[Federal Register Volume 73, Number 66 (Friday, April 4, 2008)]
[Notices]
[Page 18600]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-7063]


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SMALL BUSINESS ADMINISTRATION


Region II Buffalo District Advisory Council; Public Meeting

    The U.S. Small Business Administration Region II Buffalo District 
Advisory Council located in the geographical area of Buffalo, New York, 
will hold a public meeting on Wednesday, April 9, 2008, starting at 10 
a.m. eastern standard time.
    The meeting will take place at HSBC Bank USA, One HSBC Center, 
Buffalo, New York to discuss such matters that may be presented by 
members, and staff of the U.S. Small Business Administration, or others 
present.
    Anyone wishing to make an oral presentation to the Board must 
contact Franklin J. Sciortino, District Director, Buffalo District 
Office, in writing by letter or fax no later than Friday, April 4, 2008 
in order to be put on the agenda. Franklin J. Sciortino, District 
Director, Buffalo District Office, U.S. Small Business Administration, 
Niagara Center, 540 Niagara Center, 130 S. Elmwood Avenue, Buffalo, New 
York 14202; telephone (716) 551-4301 or fax (716) 551-4418.

Cherylyn H. Lebon,
Committee Management Officer.
 [FR Doc. E8-7063 Filed 4-3-08; 8:45 am]
BILLING CODE 8025-01-P
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