In order for HAs to be approved for a
mortgage of security interest in any public housing real estate or
other assets, a proposal must be submitted to HUD. After approval
and execution of any legal documents associated with the loan and
related construction activity, a copy of the executed document is
submitted. Quarterly reports on the progress of the loan and pay
off as well as the construction activity will be
submitted.
PL:
Pub.L. 105 - 276 516 Name of Law: Quality of Housing and Work
Responsability Act of 1998
Since Section 30 of the 1937
Act was added with QHWRA, there has been no guidance or regulations
developed to implement the ability to approve mortgages on public
housing property. Therefore, minimal approval activity (less than
10) has taken place, and thus OMB approval has not been necessary
for the collection of the proposal application information. The
proposed PHMP notice not only proposes guidance for the proposal
submission and approval process, but as a result publicizes the
ability to use this leveraged financing method, otherwise
prohibited. Therefore, the number of proposals is expected to
increase beyond 10 and thus require OMB approval of the collection
noted in this request.
$4,076,800
No
No
No
No
No
Uncollected
Mark Murifield
9135515590
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.