30 Day FR

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Federal Register / Vol. 85, No. 196 / Thursday, October 8, 2020 / Notices

may access this number via TTY by
calling the Federal Relay during
working hours at 800–877–8339. (This
is a toll-free number.) HUD encourages
submission of questions about the
demonstration be sent to HCVmobility
[email protected].
On July
15, 2020 (85 FR 42890), HUD published
its Notice implementing the HCV
Mobility Demonstration, and
established October 13, 2020 as the
deadline date for the submission of
applications. Through the Notice, HUD
is making available approximately $50
million for grants to Public Housing
Authorities (PHAs) under a
demonstration program authorized by
statute.
Today’s Federal Register publication
extends the deadline date for the
submission of applications for the HCV
Mobility Demonstration program to
December 14, 2020. HUD is extending
the application submission deadline
date to ensure that delays or
complications due to the COVID–19
Coronavirus do not cause undue
hardship or otherwise prevent
applicants from submitting complete
applications.

SUPPLEMENTARY INFORMATION:

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Deadline for Applications
The lead agency shall be responsible
for submitting the application to HUD,
no later than December 14, 2020.
Applications that are submitted after
midnight on December 14, 2020, or
which fail to include the required
elements, will be ineligible for
consideration by HUD.
HUD may extend the application
deadline for any program if HUD.gov
systems are offline or not available to
applicants for at least 24 hours
immediately prior to the deadline date,
or if the system is down for 24 hours or
longer and that impacts the ability of
applicants to cure a submission
deficiency within the grace period. HUD
may also extend the application
deadline upon request if there is a
presidentially-declared disaster in the
applicant’s area. If these events occur,
HUD will post a notice on its website
establishing the new, extended deadline
for the affected applicants.
R. Hunter Kurtz,
Assistant Secretary for Public and Indian
Housing.
[FR Doc. 2020–22130 Filed 10–7–20; 8:45 am]
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DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT
[Docket No. FR–7024–N–42]

30-Day Notice of Proposed Information
Collection: HUD Multifamily Rental
Project Closing Documents; OMB
Control No.: 2502–0598
Office of the Chief Information
Officer, HUD.
ACTION: Notice.
AGENCY:

HUD has submitted the
proposed information collection
requirement described below to the
Office of Management and Budget
(OMB) for review, in accordance with
the Paperwork Reduction Act. The
purpose of this notice is to allow for an
additional 30 days of public comment.
DATES: Comments Due Date: November
9, 2020.
ADDRESSES: Interested persons are
invited to submit comments regarding
this proposal. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
Start Printed Page 15501PRAMain. Find
this particular information collection by
selecting ‘‘Currently under 30-day
Review—Open for Public Comments’’ or
by using the search function.
FOR FURTHER INFORMATION CONTACT:
Colette Pollard, Reports Management
Officer, QDAM, Department of Housing
and Urban Development, 451 7th Street
SW, Washington, DC 20410; email
Colette Pollard at Colette.Pollard@
hud.gov or telephone 202–402–3400.
Persons with hearing or speech
impairments may access this number
through TTY by calling the toll-free
Federal Relay Service at (800) 877–8339.
This is not a toll-free number. Copies of
available documents submitted to OMB
may be obtained from Ms. Pollard.
SUPPLEMENTARY INFORMATION: This
notice informs the public that HUD has
submitted to OMB a request for
approval of the information collection
described in Section A. The Federal
Register notice that solicited public
comment on the information collection
for a period of 60 days was published
on May 18, 2020 at 85 FR 29736.
SUMMARY:

A. Overview of Information Collection
Title of Information Collection: HUD
Multifamily Rental Project Closing
Documents.
OMB Approval Number: 2502–0598.
OMB Expiration Date: 09/30/2021.
Type of Request: Revision of currently
approved collection.
Form Number Being Revised: HUD–
92420M.

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Description of the need for the
information and proposed use: The
form, Subordination Agreement, HUD–
92420M, is used in FHA-insured
multifamily rental project loan closings
with secured, publicly financed
secondary debt, often to promote
affordable housing. The document is
used to subordinate such secured,
secondary financing to the lien of the
FHA-insured mortgage, which must be
in a first lien position as required by the
National Housing Act (12 U.S.C. 1701
et. seq.), on terms and conditions that
are legally and administratively
acceptable to HUD.
The Subordination Agreement is part
of a larger information collection (OMB
Control No. 2502–0598) that consists of
numerous other closing forms (Closing
Documents) used in FHA-insured
multifamily transactions. The Closing
Documents, including the
Subordination Agreement, were last
updated pursuant to the Paperwork
Reduction Act (PRA) in 2018. However,
HUD was not able to complete its
review of public comments received in
connection with the 30-day Federal
Register notice (83 FR 29815; 30-day
notice) published for the previous PRA
renewal for the Closing Documents prior
to the OMB deadline. Therefore, when
HUD initiates a new PRA process for the
Closing Documents later this year, it
will include, as a starting point, changes
HUD anticipated making in response to
the public comments received with the
30-day notice.
Notwithstanding, due to concerns that
state and local housing finance agencies
(HFAs) have expressed concerning
certain terms and conditions in the 2018
Subordination Agreement, HUD is
initiating this separate PRA renewal
effort in order to allow HFAs and other
interested members of the public an
opportunity to comment on the form
and HUD to make agreed upon changes
on a more immediate timeline. It is
HUD’s goal that the PRA process for the
Subordination Agreement will result in
a form that is widely accepted by HFAs
to promote greater efficiency and
consistency in the FHA multifamily
closing process, while also allowing
flexibility for HFA requested changes
necessary for state or local law, as
discussed immediately below.
Revisions to the Subordination
Agreement
HUD added the following instruction
at the request of OMB given HUD’s
policy of considering requested
Subordination Agreement changes to
accommodate state or local law: ‘‘HUD
will consider requested changes to this
form that are necessary to comply with

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Federal Register / Vol. 85, No. 196 / Thursday, October 8, 2020 / Notices
state or local law. All such requests
must be accompanied by a substantive
explanation prepared by counsel to the
Subordinate Lender. HUD’s written
acceptance of any changes for state or
local law will result in a template
Subordination Agreement–Public, for a
given jurisdiction and program.
Consistent with the PRA, permission to
use any such HUD-approved template
will expire upon implementation of the
next OMB-approved version of this
form. When a new OMB form is issued,
public lenders may request HUD
consideration of changes to the new
form in accordance with the level of
flexibility the new form provides.’’ HUD
notes that the underlying PRA burden
estimate for the Subordination
Agreement now accounts for any legal
opinions that may be required to justify
state or local law changes.
Similarly, HUD added an instruction
in section 3(b) to ensure the
Subordination Agreement is consistent
with existing HUD policy allowing an
exception (on a case-by-case basis) to
the requirement that the subordinate
loan mature no earlier than the FHAinsured senior loan for deal-specific
situations where the resulting risk is
appropriately underwritten. Outside of
this allowance to permit maturity of the
subordinate loan before the FHAinsured senior loan and other existing
instructions allowing flexibility for
certain other terms (e.g., section 3(c)(4)
exception to prohibition against
compounding interest for LIHTC
transactions), HUD does not anticipate
accommodating deal-specific requests
for additional changes to the form.
HFAs and other interested parties are
encouraged to request, and provide a
rationale for, any changes deemed
necessary during this PRA process.
In response to the 30-day notice, one
commenter objected to section 3(c) that
requires HUD language be inserted into
the subordinate note because many
subordinate lenders use pre-approved
template documents. HUD rejects this
comment because FHA-insured
multifamily financing is a national
program that requires uniformity to
ensure fairness and efficiency in
closings. Thus, it is critical that every
subordinate loan contain the HUD
required language in order to
accomplish this goal. HUD is, however,
sympathetic to the fact that various
HFAs have templates that must go
through an approval process; therefore,
HUD will permit the HUD-required
subordinate note language to be
incorporated by reference into the
subordinate note.
HUD also rejects a comment objecting
to section 3(c)(3) that restricts a transfer

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of the subordinate note without HUD
consent. Section 3(c)(3) reflects HUD’s
longstanding policy that Surplus Cash
Notes are not negotiable instruments or
transferable without HUD consent. This
policy has been in existence since at
least 2011, and since 2002 with the then
applicable Secondary Financing Rider
that was included in the 2002 MAP
Guide The rationale behind this policy
is that HUD needs to be able to assess
whether such transfers will cause
unacceptable risk to the project.
A commenter objected to the language
in section 3(c)(6) that the terms and
provisions of the subordinate lender’s
note are enforceable by HUD and cannot
be amended without HUD’s consent.
HUD rejects this comment. This is
standard language in several of the
Closing Documents. Changing the terms
of the subordinate loan without HUD
consent could negatively impact HUD.
In response to an informal comment
received from an outside party
concerning the policy change previously
made in in section 6(b) to allow
subordinate lenders to exercise their
remedies for subordinate loan defaults
after a 180-day standstill, HUD proposes
to explicitly clarify that such exercise of
remedies is only available for covenant
events of default, and not monetary
events of default. This clarification is
consistent with the rationale discussed
in the 60-day Federal Register notice
published on September 5, 2017 (82 FR
41977).
One commenter took issue with the
section 7(b) prohibition against a crossdefault provision in the subordinate
loan documents. HUD rejects this
comment as a cross-default prohibition
has been in the form since its adoption
in 2011. Numerous transactions with
public secondary debt have closed
without any objection to the
prohibition, which can also be found in
the MAP Guide. The FHA lender and
HUD must control what happens to the
property in the event of a default under
the FHA-insured loan and whether to
remove the borrower through a
foreclosure, not the subordinate lender.
One commenter objected to the
requirement in section 10(c) that the
maturity on the subordinate loan
automatically be extended if the FHA
loan is extended due to a deferment of
amortization or forbearance. HUD
rejects this comment as the language in
question reflects current MAP Guide
policy to reserve this protection as
insurer of the first mortgage loan to
allow maximum flexibility in distressed
project situations.
HUD agrees with an HFA’s request to
remove language in section 10(e) that
would force a subordinate lender to

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63571

allow an ownership change and
assumption of its loan upon HUD
approval. Further, HUD also agrees with
an HFA’s request to remove the
requirement in section 10(f) that limits
the funds the subordinate lender can
receive upon transfer or sale of the
property to 75% of net proceeds; HUD
will be making a corresponding change
to remove this requirement from the
MAP Guide.
Respondents (i.e., affected public):
FHA lenders, borrowers, housing
finance agencies and other government
agencies that support affordable
housing, and HFA counsel.
Estimated Number of Respondents:
17,468.
Estimated Number of Responses:
17,468.
Frequency of Response: Once per
annum.
Average Hours per Response: 1.5
hours.
Total Estimated Burden: 14,286.85.
B. Solicitation of Public Comment
This notice is soliciting comments
from members of the public and affected
parties concerning the collection of
information described in Section A on
the following:
(1) Whether the proposed collection
of information is necessary for the
proper performance of the functions of
the agency, including whether the
information will have practical utility.
(2) The accuracy of the agency’s
estimate of the burden of the proposed
collection of information.
(3) Ways to enhance the quality,
utility, and clarity of the information to
be collected.
(4) Ways to minimize the burden of
the collection of information on those
who are to respond, including through
the use of appropriate automated
collection techniques or other forms of
information technology, e.g., permitting
electronic submission of responses.
(5) Ways to minimize the burden of
the collection of information on those
who are respond, including the use of
automated collection techniques or
other forms of information technology.
HUD requests that commenters
provide comments and proposed
changes in narrative and/or bulleted
form, accompanied by a detailed
explanation and rationale for each
requested change. Commenters may
include in their detailed explanation
and rationale the relevant excerpt(s)
from the Subordination Agreement with
redlines/strikeouts.
Authority: Section 3507 of the
Paperwork Reduction Act of 1995, 44
U.S.C. Chapter 3507.

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Federal Register / Vol. 85, No. 196 / Thursday, October 8, 2020 / Notices

Department Reports Management
Officer for the Office of the Chief
Information Officer,
Colette Pollard, having reviewed and
approved this document, is delegating
the authority to electronically sign this
document to submitter, Nacheshia Foxx,
who is the Federal Register Liaison for
HUD, for purposes of publication in the
Federal Register.
Dated: October 5, 2020.
Nacheshia Foxx,
Federal Register Liaison for the Department
of Housing and Urban Development.
[FR Doc. 2020–22338 Filed 10–7–20; 8:45 am]
BILLING CODE 4210–67–P

DEPARTMENT OF THE INTERIOR
National Park Service
[NPS–WASO–D–COS–POL–30832;
PPWODIREP0; PPMPSAS1Y.YP0000]

Notice of the December 10, 2020,
Teleconference Meeting of the National
Park System Advisory Board
National Park Service, Interior.
ACTION: Notice of teleconference
meeting.
AGENCY:

In accordance with the
Federal Advisory Committee Act of
1972, the National Park Service (NPS) is
hereby giving notice that the National
Park System Advisory Board (Board)
will meet as noted below. The agenda
may include the review of proposed
actions regarding the National Historic
Landmarks (NHL) Program and National
Natural Landmarks (NNL) Program.
Interested parties are encouraged to
submit written comments and
recommendations that will be presented
to the Board. Interested parties also may
attend the board meeting and upon
request may address the Board
concerning an area’s national
significance.

SUMMARY:

The teleconference meeting will
be held on Thursday, December 10,
2020, from 11:00 a.m., until 5:00 p.m.,
Eastern Standard Time. For instructions
on registering to attend, submitting
written material, or giving an oral
presentation at the meeting, please see
guidance under FOR FURTHER
INFORMATION CONTACT.
ADDRESSES: The meeting will be held
virtually at the date and time noted
above.

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DATES:

(a)
For information concerning attending
the Board meeting or to request to
address the Board, contact Joshua

FOR FURTHER INFORMATION CONTACT:

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Winchell, Staff Director for the National
Park System Advisory Board, Office of
Policy, National Park Service, telephone
(202) 641–4467, or email joshua_
[email protected]. (b) To submit a
written statement specific to, or request
information about, any NHL matter
listed below, or for information about
the NHL Program or NHL designation
process and the effects of designation,
contact Sherry A. Frear, RLA, Chief,
National Register of Historic Places and
National Historic Landmarks Program,
National Park Service, email sherry_
[email protected]. Written comments
specific to any NHL matter listed below
must be submitted by no later than
December 8, 2020. (c) To submit a
written statement specific to, or request
information about, the NNL matter
listed below, or for information about
the Program or NNL designation process
and the effects of designation, contact
Heather Eggleston, Manager, National
Natural Landmarks Program, National
Park Service, email heather_eggleston@
nps.gov. Written comments specific to
any NNL matter listed below must be
submitted by no later than December 8,
2020.
SUPPLEMENTARY INFORMATION: The Board
has been established by authority of the
Secretary of the Interior (Secretary)
under 54 U.S.C. 100906 and is regulated
by the Federal Advisory Committee Act.
The Board will receive briefings and
discuss topics related to improving the
visitor experience in NPS managed
units and workforce planning for the
next century and may consider
proposed NHL and NNL actions. The
final agenda and briefing materials will
be posted to the Board’s website prior to
the meeting at https://www.nps.gov/
advisoryboard.htm.
A. National Historic Landmarks (NHL)
Program
NHL Program matters will be
considered, during which the Board
may consider the following:
Nominations for NHL Designation
Alabama
• Monroe County Courthouse,
Monroeville, AL
Arizona
• Klagetoh (Leegito) Chapter House,
Klagetoh, AZ
Colorado
• Colorado Fuel & Iron Co.
Administrative Complex, Pueblo
CO
Florida
• Dudley Farm, Newberry, Alachua
County, FL
Indiana

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• Fort Ouiatenon Archeological
District, Tippecanoe County, IN
Iowa
• Surf Ballroom, Clear Lake, IA
Maryland
• Frieda Fromm-Reichmann Cottage,
Rockville, MD
• Tolson’s Chapel and School,
Sharpsburg, MD
Massachusetts
• Mary Baker Eddy House, Lynn MA
Texas
• Hueco Tanks, El Paso County, TX
Wisconsin
• University of Wisconsin Arboretum,
Madison, WI
B. National Natural Landmarks (NNL)
Program
NNL Program matters will be
considered, during which the Board
may consider the following:
Nomination for NNL Designation
California
• Lanphere and Ma-le’l Dunes,
Humboldt County, CA
The meeting is open to the public.
Interested persons may choose to make
oral comments at the meeting during the
designated time for this purpose.
Depending on the number of people
wishing to comment and the time
available, the amount of time for oral
comments may be limited. Interested
parties should contact the Staff Director
for the Board (see FOR FURTHER
INFORMATION CONTACT) for advance
placement on the public speaker list for
this meeting. Members of the public
may also choose to submit written
comments by emailing them to joshua_
[email protected].
Public Disclosure of Comments:
Before including your address, phone
number, email address, or other
personal identifying information in your
comment, you should be aware that
your entire comment—including your
personal identifying information—may
be made publicly available at any time.
While you can ask us in your comment
to withhold your personal identifying
information from public review, we
cannot guarantee that we will be able to
do so.
Authority: 5 U.S.C. Appendix 2.
Alma Ripps,
Chief, Office of Policy.
[FR Doc. 2020–22116 Filed 10–7–20; 8:45 am]
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