Region II Buffalo District Advisory Council; Public Meeting, 18600 [E8-7063]
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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
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15:24 Apr 03, 2008
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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.
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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