OMB 2502-0555

Paperwork Reduction Act Submission

Please read the instruction before completing this form. For additional forms or assistance in completing this forms, contact your agency’s Paperwork Reduction Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement, and any additional documentation to: Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 Seventeenth St. NW, Washington, DC 20503.

1. Agency/Subagency Originating Request: U.S. Department of Housing and Urban Development Office of Multifamily Housing/Office of Asset Management		2. OMB Control Number: a.      	b. None 2502-0555
3. Type of information collection: (check one) New Collection Revision of a currently approved collection Extension of a currently approved collection Reinstatement, without change, of previously approved collection for which approval has expired Reinstatement, with change, of previously approved collection for which approval has expired Existing collection in use without an OMB control number For b-f, note item A2 of Supporting Statement instructions.	4. Type of review requested: (check one) Regular Emergency - Approval requested by       Delegated 5. Small entities: Will this information collection have a significant economic impact on a substantial number of small entities? Yes No 6. Requested expiration date: a. Three years from approval date b. Other (specify)      

7. Title:

Request for Withdrawals from Replacements Reserves / Residual Receipts Funds

8. Agency form number(s): (if applicable)

HUD-9250

9. Keywords:

Housing, Accounting, Multifamily Mortgage, Reserve Funds

10. Abstract:

Project owners are required to submit this information and required supporting documentation when requesting a withdrawal for funds from the Reserves for Replacement and/or Residual Receipt Funds. HUD reviews this information to ensure that funds are withdrawn and used in accordance with regulatory and administrative policy.

11. Affected public: (mark primary with “P” and all others that apply with “X”) a.   Individuals or households e.   Farms b. P Business or other for-profit f.   Federal Government c.   Not-for-profit institutions g.   State, Local or Tribal Government		12. Obligation to respond: (mark primary with “P” and all others that apply with “X”) a.   Voluntary b. P Required to obtain or retain benefils c.   Mandatory
13. Annual reporting and recordkeeping hour burden: a. Number of respondents 8,250 b. Total annual responses 8,250 Percentage of these responses collected electronically 0% c. Total annual hours requested 20,625 d. Current OMB inventory 4,250 e. Difference (+,-) +16,375 f. Explanation of difference: 1. Program change: 2. Adjustment: +16,375		14. Annual reporting and recordkeeping cost burden: (in thousands of dollars) Do not include costs based on the hours in item 13. a. Total annualized capital/startup costs b. Total annual costs (O&M) c. Total annualized cost requested d. Current OMB inventory e. Difference f. Explanation of difference: 1. Program change: 2. Adjustment:
15. Purpose of Information collection: (mark primary with “P” and all others that apply with “X”) a. P Application for benefits e.   Program planning or management b.   Program evaluation f.   Research c.   General purpose statistics g. X Regulatory or compliance d.   Audit		16. Frequency of recordkeeping or reporting: (check all that apply) a. Recordkeeping b. Third party disclosure c. Reporting: 1. On occasion 2. Weekly 3. Monthly 4. Quarterly 5. Semi-annually 6. Annually 7. Bi-annually 8. Other (describe)      
17. Statistical methods: Does this information collection employ statistical methods? Yes No	18. Agency contact: (person who can best answer questions regarding the content of this submission) Name: Kimberly R. Munson Phone: 708-1320 x5122

19. Certification for Paperwork Reduction Act Submissions

On behalf of the U.S. Department of Housing and Urban Development, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9.

Note: The text of 5 CFR 1320.9, and the related provisions of 5 CFR 1320/8(b)(3). appear at the end of the instructions. The certification is to be made with reference to those regulatory provisions as set forth in the instructions.

The following is a summary of the topics, regarding the proposed collections of information, that the certification covers:

1. It is necessary for the proper performance of agency functions;

2. It avoids unnecessary duplication;

3. It reduces burden on small entities;

4. It uses plain, coherent, and unambiguous terminology that is understandable to respondents;

5. Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

6. It indicates the retention periods for recordkeeping requirements;

7. It informs respondents of the information called for under 5 CFR 1320.8(b)(3):

1. Why the information is being collected;

2. Use of the information;

3. Burden estimate;

4. Nature of response (voluntary, required for a benefit, or mandatory);

5. Nature and extent of confidentiality; and

6. Need to display currently valid OMB control number;

8. It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to collected (see note in item 19 of the instructions);

9. It uses effective and efficient statistical survey methodology; and

10. It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item below and explain the reason in item 18 of the Supporting Statement.

     

Signature of Program Official: X Michael E. Winiarski, Acting Director, Organizational Policy, Planning and Analysis Division, HROA

Date:

Supporting Statement for Paperwork Reduction Act Submissions

A. Justification

1. This information is necessary to effectively monitor withdrawals from Reserves for Replacement funds and/or Residual Receipt Funds. Regulations 24 CFR 880.601 and 880.602 govern residual receipts accounts and replacement reserve accounts and require HUD approval and compliance with HUD guidelines (HUD Handbook 4350.1) for withdrawals from the accounts. Copies of the regulatory and administrative guidelines are attached to this submission.

2. Currently, there are approximately 30,000 multifamily projects. Project owners are required to submit this information when requesting a withdrawal for funds from the Reserves for Replacement and/or Residual Receipt Funds. HUD reviews this information to ensure that funds are withdrawn and used in accordance with regulatory and administrative policy. In FY 2005, HUD received approximately 8,250 requests.

Mortgagors make requests in writing using form HUD-9250, Funds Authorizations, along with supporting documentation. HUD will make reasonable effort to review and act upon the mortgagor's request within thirty days and, if approved, prepare, sign, and mail the Form HUD-9250 to the mortgagee of record. Supporting documentation must be attached to the HUD-9250. Examples of supporting documentation include a detailed description of the work done or to be done; a copy of paid invoice(s); three formal or informal bids; a copy of the bid specifications; a mortgagor’s certification that funds were spent and work was done as required by HUD; and any required explanations.

3. There are no immediate plans to automate this process, however the form is available in a fillable format. The request must include additional supporting documentation. No practicable automation processes are currently available to satisfy this process.

4. The information is not available from any other source.

5. This collection of information does not impact small businesses or other small entities

6. Without this collection, HUD would be unable to monitor owner/agent withdrawals from the Reserves for Replacement and/or Residual Receipt Funds. The Department would be unable to ensure that funds are not misused.

7. There are no special circumstances as described in item 7.

8. This information is collected in a manner consistent with guidelines of 5 CFR 1320.8(d). The Notice announcing the collection of information appeared in the Federal Register on November 15, 2006 (Vol. 71, No. 220, pages 66550-66551). No comments were received.

9. There are no payments or gifts to respondents.

10. There is no assurance of confidentiality provided to the respondents; however respondents are covered by the Privacy Act of 1974.

11. Respondents do not provide information of a sensitive nature, such as sexual, religious beliefs, and other matters that are commonly considered private

12. Estimated Annual Cost to Respondents

Information Collection	Number of Respondents	Frequency of Response	Total Annual Responses	*Burden Hours per Response	Total Annual Burden Hrs	Hourly Cost	Total Annual Cost
Rent Schedule Low Rent Housing
HUD-9250	30,000	Varies	8,250	0.50	4,125	$20	$82,500
Supporting documentation				2.00	16,500		330,000
Total	30,000		8,250		20,625		$412,500

*Estimated burden hours and hourly costs for respondent’s staff to gather, review, and provide the requested information

13. There are no additional costs to respondents.

14. Estimated Annual Cost to the Federal Government

*Number of Respondents	Frequency of Response	Total Annual Responses	Burden Hours per Response	Total Annual Burden Hrs	*Hourly Cost	Total Annual Cost
8,250	1	8,250	.50	4,125	$35	$144,375

*Estimated hourly cost for HUD staff (GS-12) for review of the request information and preparation of response/authorization.

15. There are no program changes for this submission. The previous submission only accounted for those entities that actually submitted requests and not for all possible respondents. Further, no burden hours were included for assembling and submitting supporting documentation. Adjustments were made to include the total number of possible respondents and the inclusion of burden hours for the supporting documentation that must accompany the request for withdrawal.

16. The results of this information collection will not be published.

17. The expiration date will be displayed on the information collection instrument.

18. There are no exceptions to the certification statement identified in item 19.

B. Collections of Information Employing Statistical Methods

There are no statistical methods used in this collection.

OMB 83-I 10/95