[Federal Register: November 3, 1999 (Volume 64, Number 212)]
[Notices]               
[Page 59785-59786]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03no99-129]                         

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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4445-N-26]

 
Notice of Proposed Information Collection: Comment Request; 
Computation of Surplus Cash Distributions and Residual Receipts and 
Fund Authorizations

AGENCY: Office of the Assistant Secretary for Housing, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: January 3, 2000.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: Wayne Eddins, Reports Management 
Officer, Department of Housing and Urban Development, 451 7th Street, 
SW., L'Enfant Building, Room 8202, Washington, DC 20410.

FOR FURTHER INFORMATION CONTACT: Willie Spearmon, Office of Business 
Products, Office of Multifamily Housing Programs, Department of Housing 
and Urban Development, 451 7th Street SW., Washington, DC 20410, 
telephone (202) 708-3000 for copies of the proposed forms and other 
available information.

SUPPLEMENTARY INFORMATION: The Department is submitting the proposed 
information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).
    This Notice is soliciting comments from members of the public and 
affected agencies concerning the proposed collection of information to: 
(1) Evaluate whether the proposed collection is necessary for the 
proper performance of the functions of the agency, including whether 
the information will have practical utility; (2) Evaluate the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) Enhance the quality, utility, and clarity of the 
information to be collected; and (4) Minimize the burden of the 
collection of information on those who are to respond; including the 
use of appropriate automated collection techniques or other forms of 
information technology, e.g., permitting electronic submission of 
responses.
    This Notice also lists the following information:
    Title of Proposal: Computation of Surplus Cash Distributions and 
Residual Receipts and Funds Authorizations.
    OMB Control Number, if applicable: 2502-0314.
    Description of the need for the information and proposed use: 
Handbook 4350.1, Rev. 1, Chapter 25, Multifamily Asset Management and 
Project Servicing, applies to all non-profit and limited dividend 
multifamily projects with HUD-insured and HUD-held mortgages, including 
the Section 202 Program projects. Generally, all projects owned by non-
profit mortgagors and all Section 236 and 221(d)(3) projects owned by 
limited distribution (LD) mortgagors as well, as Section 8 New 
Construction/Substantial Rehabilitation projects subject to the 1979/80 
revised Section 8 regulations, are required to establish a Residual 
Receipts Account. The requirement for a Residual Receipts Account is

[[Page 59786]]

established by a Regulatory Agreement or a project-based subsidy 
contract such as Section 8 Housing Assistance Payments.
    HUD-93486 is used to calculate allowable distributions and any 
amounts that may be due for deposit to the Residual Receipts Account. 
HUD-9250 is a form used by HUD Field Offices and the Mortgagor/Managing 
Agent authorizing the release of funds for Reserve for Replacements or 
Residual Receipts.
    Agency form numbers, if applicable: HUD-93486, HUD-9250.
    Estimation of the total numbers of hours needed to prepare the 
information collection including number of respondents, frequency of 
response, and hours of response: The estimated number of respondents 
are 23,473, frequency of responses is 1 per respondent, and the hours 
of response is estimated to be 1 hour for HUD-93486 and 1 hour for HUD-
9250, totaling 46,946 annual burden hours.
    Status of the proposed information collection: Reinstatement 
without change.

    Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., 
Chapter 35, as amended.

    Dated: October 28, 1999.
William C. Apgar,
Assistant Secretary for Housing-Federal Housing Commission.
[FR Doc. 99-28690 Filed 11-2-99; 8:45 am]
BILLING CODE 4210-27-M