Rural Housing Service September 2014 – Federal Register Recent Federal Regulation Documents
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2014 Farm Bill Implementation Listening Session-Rural Community College Coordinated Strategy
As part of the implementation of the Agricultural Act of 2014 (commonly referred to as the 2014 Farm Bill), USDA Rural Development is hosting a listening session to receive public input about ways USDA can help community colleges form partnerships and get funding for local economic development. The 2014 Farm Bill directs USDA to work with community and technical colleges on a strategy to help them better serve the needs of local rural communities. The listening session will provide an opportunity for stakeholders to voice their comments, concerns or requests regarding this strategy. Instructions to register for and attend the listening session are in the SUPPLEMENTARY INFORMATION section of this notice.
Notice of Funding Availability for Section 515 Multi-Family Housing Preservation Revolving Loan Fund Demonstration Program for Fiscal Year 2014
The Rural Housing Service of Rural Development previously announced in a Notice published June 5, 2013, (78 FR 33800), the availability of funds and the timeframe to submit applications for loans to both private non-profit organizations, and State and local housing finance agencies, to carry out a demonstration program to provide revolving loans for the preservation and revitalization of low- income Multi-Family Housing (MFH). Rural Development did not receive sufficient applications to use all the available funds. As a result, Rural Development is soliciting additional applications under this Notice for the remaining funding. This Notice also eliminates the $1 million cap on subsequent loans for existing intermediaries. Housing that is assisted by this demonstration program must be financed by Rural Development through its MFH loan program under Sections 515, 514 and 516 of the Housing Act of 1949. The goals of this demonstration program will be achieved through loans made to intermediaries. The intermediaries will establish their programs for the purpose of providing loans to ultimate recipients for the preservation and revitalization of low-income Sections 515, 514 and 516 MFH as affordable housing.
Notice of Funding Availability: Multi-Family Housing Preservation and Revitalization Demonstration Program-Section 514, Section 515, and Section 516 for Fiscal Year 2014
USDA Rural Development, which administers the programs of the Rural Housing Service (Agency), announces the availability of $20 million in budget authority and the timeframe to submit applications to participate in a demonstration program to preserve and revitalize existing Rural Rental Housing (RRH) projects under Section 515, Section 514, and Section 516 of the Housing Act of 1949, as amended. Under the demonstration program, existing Section 515 Multi-Family Housing (MFH) loans and Sections 514/516 Off-Farm Labor Housing (FLH) loans will be restructured to ensure that sufficient resources are available to preserve the ability of rental projects to provide safe and affordable housing for very low-, low-, or moderate-income residents. Projects participating in this program will be expected to be revitalized to extend their affordable use without displacing tenants because of increased rents. No additional Agency Rental Assistance (RA) units will be made available under this program.
Methodology and Formulas for Allocation of Loan and Grant Program Funds
The Rural Business-Cooperative Service (RBS) is publishing this final rule for allocating program funds to its State Offices. This final rule adds two programsthe Rural Energy for America Program (REAP) and the Intermediary Relending Program (IRP). In addition, this final rule revises State allocation formulae to account for changes in data reported by the U.S. Bureau of the Census' decennial Census. Finally, this final rule revises the weight percentages associated with each of the allocation criteria; provides flexibility in determining when not to make State allocations for a program; restricts the use of the transition formula and changes the limitations on how much program funds can change when the transition formula is used; adds provisions for making State allocation for other RBS programs, including new ones; and provides consistency, where necessary, in the allocation of RBS program funds to State Offices.
Eliminate the 6-Day Reservation Period Requirement for Rural Development Obligations
Rural Development (RD) is amending the regulations so that an obligation date for all guaranteed loans, direct loans, and grants will no longer be 6 working days from the date of request for reservation of authority. This action is necessary as the 6-day reservation period will be permanently removed from the Commercial Loan Servicing System (CLSS), Guaranteed Loan System (GLS), and Program Loan Accounting System (PLAS). The effect of this action will reduce system or manual intervention when legislative mandates direct cutoff for obligations and/or funding; eliminate program waivers on obligation date; increase consistency with other RD programs; reduce risks with new system implementations, such as the Financial Modernization Management Initiative; and eliminate numerous reconciliation issues between processed obligations and actual obligations for internal RD reports and USDA reporting requirements.
Eliminate the 6-Day Reservation Period Requirement for Rural Development Obligations
Rural Development (RD) is proposing to amend the regulations so that an obligation date for all guaranteed loans, direct loans, and grants will no longer be 6 working days from the date of request for reservation of authority. This action is necessary as the 6-day reservation period will be permanently removed from the Commercial Loan Servicing System (CLSS), Guaranteed Loan System (GLS), and Program Loan Accounting System (PLAS). The effect of this action will reduce system or manual intervention when legislative mandates direct cutoff for obligations and/or funding; eliminate program waivers on obligation date; increase consistency with other RD programs; reduce risks with new system implementations, such as the Financial Modernization Management Initiative; and eliminate numerous reconciliation issues between processed obligations and actual obligations for internal RD reports and USDA reporting requirements.
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