Single Family Housing Guaranteed Loan Program
This final rule implements two changes in the regulations for the Rural Housing Service (RHS) Section 502 Single Family Housing Guaranteed Loan Program (SFHGLP) by eliminating the lender's published Department of Veterans Affairs (VA) rate for first mortgage loans with no discount points as an option for a maximum interest rate on loans and by allowing the Secretary to seek indemnification from the originating lender if a loss is paid under certain circumstances. This action is taken to achieve savings for the taxpayer, simplify regulations, and promote efficiency in managing the SFHGLP.
Rural Utilities Service Telecommunications Loan and Loan Guarantee Program
Rural Development's Rural Utilities Service (RUS) and its predecessor, the Rural Electrification Administration, (REA) have played a leading role in helping rural America gain access to advanced telecommunications systems, equipment and services. The List of Materials historically has been a very useful tool in assuring product quality and reliability. However, Rural Development is taking a fundamentally new approach to advancing state-of-the-art telecommunications technologies, consistent with our commitment to high quality rural service and the efficient use of taxpayer dollars.
Announcement of Grant and Loan Application Deadlines and Funding Levels
The Rural Utilities Service (RUS) announces its Revolving Fund Program (RFP) application window for Fiscal Year (FY) 2011. In addition to announcing the application window, RUS announces the available funding of $496,000 for RFP competitive grants for the fiscal year. The RFP is authorized under section 306(a)(2)(B) of the Consolidated Farm and Rural Development Act (Con Act), 7 U.S.C. 1926(a)(2)(B). Under the RFP, qualified private, non-profit organizations receive RFP grant funds to establish a lending program for eligible entities. Eligible entities for the revolving loan fund will be the same entities eligible, under paragraph 1 or 2 of Section 306(a) of the Con Act, 7 U.S.C. 1926(a) or (b), to obtain a loan, loan guarantee, or grant from the RUS Water, Waste Disposal and Wastewater loan and grant programs.
Electric Engineering, Architectural Services, Design Policies and Construction Standards
The Rural Utilities Service (RUS) proposes to amend the contract threshold amounts that require borrowers to use certain prescribed agency contract forms and to amend the contract dollar amounts that require RUS review of contracts prior to the contract being effective. Also, RUS proposes to raise the threshold amounts requiring RUS borrowers to use certain required procurement methods for materials, equipment and contract services that otherwise would require RUS prior approval. The changes in the threshold amounts would reduce the number of contracts reviewed by the RUS.
Advanced Biofuel Payment Program; Correction
The Agency published a document in the Federal Register of February 11, 2011, establishing the Advanced Biofuel Payment Program authorized under the Food, Conservation, and Energy Act of 2008. This document also established an application deadline for applicants to submit their applications for Fiscal Year (FY) 2010 on April 12, 2011. The Agency is extending the application period to May 6, 2011. Applications received after May 6, 2011, will not be considered for FY 2010.