438, 7 U.S.C. 1923; Section 305, Public Law 92-419, 7 U.S.C. 1925; Section 307, Public Law 97-35, 7 U.S.C. 1927; Section 308, Public Laws, 87-798, 89-240, 92-133, 7 U.S.C. 1928; 7 U.S.C. 1934. OBJECTIVES: To assist eligible farmers, ranchers, and aquaculture operators, including farming cooperatives, corporations, partnerships, and joint operations, through the extension of credit and supervisory assistance to: Become owner-operators of not larger than family farms; make efficient use of the land, labor, and other resources; carry on sound and successful farming operations; and enable farm families to have a reasonable standard of living. TYPES OF ASSISTANCE: Direct Loans; Guaranteed/Insured Loans. USES AND USE RESTRICTIONS: Loan funds may be used to: (1) Enlarge, improve, and buy family farms; (2) provide necessary water and water facilities; (3) provide basic soil treatment and land conservation measures; (4) construct, repair, and improve essential buildings needed in the operation of a family farm; (5) construct or repair farm dwellings; (6) provide facilities to produce fish under controlled conditions. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: An applicant must: (1) Not have caused a loss to the Agency after April 4, 1996, or received debt forgiveness on more than 3 occasions prior to April 4, 1996 to receive a guaranteed loan; (2) be unable to obtain suitable credit from other sources at reasonable rates and terms; (3) be a U.S. citizen or permanent resident and possess the legal capacity to incur the obligations of the loan; (4) have the necessary education and/or experience, training, and managerial ability to operate a family farm; (5) realistically project the ability to repay the loan; (6) be the owner-operator of a not larger than family farm after the loan is closed; and (7) if an individual, the applicant must not have a combined farm ownership, soil and water, and recreation loan indebtedness to FSA of more than $200,000, for direct loans; and $717,000 (amount adjusted annually for inflation) for a guaranteed loan(s), or a combination of direct and guaranteed indebtedness; or a total indebtedness against the property securing the loan(s) of more than the market value of the security, whichever is the lesser amount. If a cooperative, corporation, joint operation or partnership, the entity must be controlled by farmers or ranchers engaged primarily and directly in farming in the U.S., after the loan is made, and must consist of members, stockholders, partners, or joint operators (8) have a minimum of 3 years farming experience. Assistance is authorized for eligible applicants in the 50 States, the Commonwealth of Puerto Rico, the Virgin Islands of the United States, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and, to the extent the Secretary determines it to be feasible and appropriate, the Trust Territories of the Pacific Islands. Applicants must also comply with the highly erodible land and wetland conservation provisions of Public Law 99-198 of the Food Security Act of 1985 (FSA). To be eligible to obtain a direct loan, a borrower must abide by the Agency's borrower training requirements. Applicants/borrowers requesting guaranteed loan assistance must meet all lender requirements. Beneficiary Eligibility: Applicants/borrowers are the direct beneficiaries and must meet the applicant eligibility requirements. Families, individuals, and entities who are farmers, ranchers or aquaculture operators are the beneficiaries. Credentials/Documentation: Applicants must prove that credit is not available elsewhere for the requested purpose; and that they possess sufficient training or farm experience. This program is excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS: An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372. Application Procedure: Applicants file Form FSA 410-1, Application for FSA Services, with supporting information, at the local county office of the Farm Service Agency for direct loans or Form FSA 1980-25 with the prospective lender for loan guarantees. This program is excluded from coverage under OMB Circular No. A-110. Award Procedure: Certification as to eligibility is made the Agency credit officials and an approval determination is made by an FSA official based on loan feasibility and soundness, and adequate security. Deadlines: None. Range of Approval/Disapproval Time: The loan approval official must approve or disapproves a completed application within 30 days on a guaranteed loan application and 60 days on a direct loan application. Appeals: Applicants for direct and guaranteed loans, may appeal adverse actions taken. The applicant is given an opportunity to appeal the decision to the National Appeals Staff. For guaranteed loans, both the lender and the applicant must request the appeal. Renewals: Applicants may reapply at any time. Applicants denied assistance through the appeal process must establish that substantial change has occurred, since the denial decision. ASSISTANCE CONSIDERATIONS: The selected criteria identify essential elements considered necessary to compare the needs of the various States, and to make the best use of available program funds. This program has no statutory formula or matching requirements. Length and Time Phasing of Assistance: Loans justified may be scheduled over a period up to 40 years. The interest rate for guaranteed loans is negotiated between the lender and borrower. POST ASSISTANCE REQUIREMENTS: Reports: Not applicable. Audits: Not applicable. Records: Not applicable. FINANCIAL INFORMATION: Account Identification: 12-4140-0-3-351; 12-1140-0-1-351. Obligations: (Direct Loans) FY 05 $271,929,000; FY 06 est $205,918,000; and FY 07 est $222,750,000. (Guaranteed Loans) FY 05 $1,027,016,000; FY 06 est $1,409,958,000; and FY 07 est $1,200,000,000. Range and Average of Financial Assistance: Maximum direct $200,000, maximum guaranteed $731,000 (amount adjusted annually for inflation). Average direct $111,762, guaranteed $250,421. PROGRAM ACCOMPLISHMENTS: Loans are used to purchase, enlarge, and improve family farms. In fiscal year 2001, 2,085 direct, and 3,488 guaranteed loans were made. REGULATIONS, GUIDELINES, AND LITERATURE: 7 CFR, Part 1943, Subpart A and Part 762. Farm Service Agency Fact Sheets; FSA Handbook 2 FLP; Program Aids 1610, "Farm Service Agency Producer's Guide to Loan Programs"; and 1620, "Lender's Guide to FSA Loan Programs." INFORMATION CONTACTS: Regional or Local Office: Contact the appropriate FSA State Office listed in Appendix IV of the Catalog. Headquarters Office: Department of Agriculture, Farm Service Agency, Director, Loan Making Division, Ag Box 0522, Washington, DC 20250. Telephone: (202) 7201632. Web Site Address: http://www.fsa.usda.gov. RELATED PROGRAMS: 10.406, Farm Operating Loans; 15.124, Indian Loans_Economic Development. EXAMPLES OF FUNDED PROJECTS: Not applicable. CRITERIA FOR SELECTING PROPOSALS: Not applicable. 10.410 VERY LOW TO MODERATE INCOME HOUSING LOANS to 60 days. Requests for guarantee loans are acted upon in 3 days of (Section 502 Rural Housing Loans) FEDERAL AGENCY: RURAL DEVELOPMENT (RD), DEPARTMENT OF AGRICULTURE AUTHORIZATION: Housing Act of 1949, Title V, Section 502, as amended, Public Law 89117, 42 U.S.C. 1471 et seq.; Public Law 92-310, 42 U.S.C. 1480, 42 U.S.C. 1472; Public Law 98-51; Public Law 100-233; Amendment of Consolidated Farm and Rural Development Act of 1987, Section 601. OBJECTIVES: To assist very low, low-income, and moderate-income households to obtain modest, decent, safe, and sanitary housing for use as a permanent residence in rural areas. TYPES OF ASSISTANCE: Direct Loans; Guaranteed/Insured Loans. USES AND USE RESTRICTIONS: Direct and guaranteed loans may be used to buy, build, or improve the applicant's permanent residence. New manufactured homes may be financed when they are on a permanent site, purchased from an approved dealer or contractor, and meet certain other requirements. Under very limited circumstances, homes may be re-financed with direct loans. Dwellings financed must be modest, decent, safe, and sanitary. The value of a home financed with a direct loan may not exceed the area limit. The property must be located in an eligible rural area. Assistance is available in the States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana's, and the Trust Territories of the Pacific Islands. Direct loans are made at the interest rate specified in RD Instruction 440.1, Exhibit B (available in any Rural Development local office), and are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an "effective interest rate" as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions. Guaranteed loans may be made to refinance either existing RD Guaranteed Housing loans or RHS Section 502 Direct Housing loans. Guaranteed loans are amortized over 30 years. The interest rate is negotiated with the lender. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: Applicants must have very low-, low- or moderate incomes. Very lowincome is defined as below 50 percent of the area median income (AMI); low-income is between 50 and 80 percent of AMI; moderate income is below 115 percent of AMI. Families must be without adequate housing, but able to afford the housing payments, including principal, interest, taxes, and insurance (PITI). Qualifying repayment ratios are 29 percent for PITI to 41 percent for total debt. In addition, applicants must be unable to obtain credit elsewhere, yet have an acceptable credit history. Beneficiary Eligibility: Applicants must meet eligibility requirements. Credentials/Documentation: Applicants may need to submit evidence of inability to obtain credit elsewhere, verification of income, debts, and other information on the application; plans, specifications, and cost estimates. This program is excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS: Preapplication Coordination: None. This program is excluded from coverage under OMB Circular No. A102 and E.O. 12372. Application Procedure: For direct loans, application is made at the Rural Development field office serving the county where the dwelling is or will be located. For guaranteed loans, application is made to a participating private lender. This program is excluded from coverage under OMB Circular No. A-110. Award Procedure: Rural Development field offices have authority to approve most Direct loan requests. Processing of guaranteed loans varies in each State. Contact your Rural Development State Office, listed in the telephone directory. If no backlog exists, decisions on direct loan applications are made within 30 receipt of the lender's request for guarantee. Deadlines: None. Range of Approval/Disapproval Time: For direct loans, from 30 to 60 days subject to availability of funds, from the time the application is filed if no backlog of applications exists. A 'prequalification' may be provided to potential direct loan applicants upon call or visit to a Rural Development office, though results are not binding. For guarantees, a decision is required within 3 days of loan package submission by the approved lender. Appeals: Agency regulations providing customers with the rights for an informal review, mediation or alternative dispute resolution (ADR), or appeal to the National Appeals Division (NAD) are contained in 7 CFR Part 3550. NAD regulations are found at 7 CFR Part 11. Requests for an informal review, mediation and ADR must be received within 30 days from the date of the adverse decision. Requests for an appeal to NAD must be received within 30 days of receipt of the adverse decision. Renewals: Applicants may reapply at any time. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: This program has no matching requirements. This program has no statutory formula. A basic formula is used to allocate program funds to various States. The criteria used in the basic formula include the States percentage of the National: Number of rural occupied substandard units, rural population, rural population in places of less than 2,500 population, number of rural households between 50 and 80 percent of the area median income, and number of rural households below 50 percent of the area median income. The data source for each of these criteria is based on the latest census data available. Length and Time Phasing of Assistance: This assistance is available throughout the year by means of quarterly allocations. Funds may be disbursed at loan closing or deposited in a supervised bank account for purchase of a building site, and purchase or repair of a dwelling, or in multiple advances for construction. For guaranteed loans, funds are disbursed after all work is complete. Applications for direct loans far exceed available funding. There is generally a waiting list for direct loan funding. POST ASSISTANCE REQUIREMENTS: Reports: Borrowers receiving a payment subsidy must submit verification of household income annually for recalculation of benefits. Audits: None. Records: Borrowers are not required to, but should retain copies of loan-related documents. FINANCIAL INFORMATION: Account Identification: 12-4141-0-3-371; 12-2081-0-1-371. Obligations: 122 Obligations: (Direct Loans) FY 05 $1,140,711,032; FY 06 est $1.013,000,000; and FY 07 est $1.024,000,000. Guaranteed loans) FY 05 $3,045,403; FY 06 est $3,078,000,000, and FY 07 est $3,374,137. Range and Average of Financial Assistance: From $1,000 to $105,000; an average of $73,350 for 502 direct loans, and 98,000 for guaranteed loans. Loans in high cost areas may be higher. PROGRAM ACCOMPLISHMENTS: Maximum loan restricted by area loan limits. In FY 2005, the average direct loan was $92,628, while the average guaranteed loan for home purchase was $96,010. Loans in high cost areas may be higher. REGULATIONS, GUIDELINES, AND LITERATURE: 7 CFR Part 3550 "Direct Single Family Housing Loans and Grants." For guaranteed loans, 1980-D "Subpart D -Rural Housing Loans." INFORMATION CONTACTS: Regional or Local Office: Consult your local telephone directory under United States Department of Agriculture for Rural Development field office number. If no listing, contact appropriate Rural Development State Office listed in Appendix IV of the Catalog or on the internet at http://www.rurdev.usda.gov/recd_map.html. Headquarters Office: Director, Single Family Housing Direct Loan Division or Director Single Family Housing Guaranteed Loan Division, Rural Development (RD), Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474 (direct loans); (202) 720-1452 (guaranteed loans). Web Site Address: http://www.rurdev.usda.gov. RELATED PROGRAMS: 10.405, Farm Labor Housing Loans and Grants; 10.411, Rural Housing Site Loans and Self Help Housing Land Development Loans; 10.417, Very Low-Income Housing Repair Loans and Grants; 10.420, Rural Self-Help Housing Technical Assistance. EXAMPLES OF FUNDED PROJECTS: Not applicable. CRITERIA FOR SELECTING PROPOSALS: Not applicable. 10.411 RURAL HOUSING SITE LOANS AND SELF-HELP HOUSING LAND DEVELOPMENT LOANS (Section 523 and 524 Site Loans) FEDERAL AGENCY: RURAL DEVELOPMENT (RD) RURAL HOUSING PROGRAMS, DEPARTMENT OF AGRICULTURE AUTHORIZATION: Housing Act of 1949, as amended, Sections 523 and 524, Public Law 89117; Public Law 89-754, 42 U.S.C. 1490c and d. OBJECTIVES: To assist public or private nonprofit organizations interested in providing sites for housing; to acquire and develop land in rural areas to be subdivided as adequate building sites and sold on a cost development basis to families eligible for low and very low income loans, cooperatives, and broadly based nonprofit rural rental housing applicants. TYPES OF ASSISTANCE: Direct Loans. USES AND USE RESTRICTIONS: For the purchase and development of adequate sites, including necessary equipment which becomes a permanent part of the development; for water and sewer facilities if not avail- able; payment of necessary engineering, legal fees, and closing costs; for needed landscaping and other necessary facilities related to buildings such as walks, parking areas, and driveways. Restrictions: loan limitation of $200,000 without national office approval; loan funds may not be used for refinancing of debts, payment of any fee, or com- mission to any broker, negotiator, or other person for the referral of a prospective applicant or solicitation of a loan; no loan funds will be used to pay operating costs or expenses of administration other than actual cash cost of incidental administrative expenses if funds to pay those expenses are not otherwise available. Repayment of loan is expected within two years. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: A private or public nonprofit organization that will provide the developed sites to qualified borrowers on a cost of development basis in open country and towns of 10,000 population or less and places up to 25,000 population under certain conditions. Applicants from towns of 10,000 to 25,000 population should check with local RD office to determine if agency can serve them. Assistance is available to eligible applicants in States, Puerto Rico, the Virgin Islands, Guam, and the Northern Marianas. Beneficiary Eligibility: Sites developed with Section 524 loans must be for housing low and very low income families and may be sold to families, nonprofit organizations, public agencies and cooperatives eligible for assistance under any Section of Title V of the Housing Act of 1949, or under any other law which provides financial assistance. Sites developed with Section 523 loans must be for housing to be built by the self-help method. Credentials/Documentation: Applicants must furnish evidence of the following: (1) Market analysis showing need for such services; (2) legal capacity to borrow funds and develop land for sale; (3) a sound budget; and (4) general project description. This program is excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS: Preapplication Coordination: Environmental impact assessment and environmental impact statements are required for this program. This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. This program is excluded from coverage under OMB Circular No. A-102. Application Procedure: The application will be in the form of a letter to the Rural Development Manager of the Rural Development (RD). Supporting information and costs should be included as needed. This program is excluded from coverage under Departmental Regulations 3015 and 3016, and OMB Circular No. A110. Award Procedure: After application has been reviewed. Deadlines: None. Range of Approval/Disapproval Time: From 180 to 365 days. Appeals: A uniform procedure whereby an organization which is directly or adversely affected by an administrative decision by Rural Development Rural Housing Programs is found in 7 CFR 3550.4. Applicants may request reconsideration on the basis of pertinent facts concerning his application. Renewals: Applicants may reapply at any time provided there is evidence of need for the proposed building sites in the locality. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: Not applicable. Length and Time Phasing of Assistance: POST ASSISTANCE REQUIREMENTS: RD District office monitors the loan and reports to the State Director should the borrower default in its loan obligations. Audits: Not applicable. Records: Adequate operating records must be maintained by borrower. FINANCIAL INFORMATION: Account Identification: 12-4141-0-3-371; 12-2081-0-1-371. Obligations: (524 Site Loans) FY 05 est $450,000; FY 06 est $5,000,000 and FY 07 est $5,000,000. (523 Site Loans); FY 05 $2,295,000; FY 06 est $4,980,000. Range and Average of Financial Assistance: (523) $573,750. (524) $450,000. PROGRAM ACCOMPLISHMENTS: In fiscal year 2005, four loans were made in the 523 program, and one loan was made in the 524 program. REGULATIONS, GUIDELINES, AND LITERATURE: RD Instruction 444.8, "Rural Housing Site Loan Policies, Procedures, and Authorizations"; 7 CFR 1822.261-1822.278; PA-1131. INFORMATION CONTACTS: Regional or Local Office: Consult your local telephone directory for RD District Office number. If no listing, get in touch with appropriate RD State office listed in Appendix IV of the Catalog or on the internet at http://www.rurdev.usda.gov/recd_map.html. Headquarters Office: Director, Single-Family Housing Processing Division, Rural Housing Service, Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1474. Use the same number for FTS. Web Site Address: http://www.rurdev.usda.gov. RELATED PROGRAMS: 10.410, Very Low to Moderate Income Housing Loans; 10.415, Rural Rental Housing Loans; 10.420, Rural Self-Help Housing Technical Assistance. EXAMPLES OF FUNDED PROJECTS: Caver County Housing and Redevelopment Agency, Chanhassen, Minnesota. CRITERIA FOR SELECTING PROPOSALS: Not applicable. 10.415 RURAL RENTAL HOUSING LOANS FEDERAL AGENCY: RURAL DEVELOPMENT (RD), DEPARTMENT OF AGRICULTURE AUTHORIZATION: Housing Act of 1949, as amended, Sections 515 and 521, Public Law 102550, 42 U.S.C. 1485, 1490a. OBJECTIVES: To provide economically designed and constructed rental and cooperative housing and related facilities suited for rural residents. TYPES OF ASSISTANCE: Direct Loans; Project Grants. USES AND USE RESTRICTIONS: Loans can be used to construct, or to purchase and substantially rehabilitate rental or cooperative housing or to develop manufactured housing projects. Housing as a general rule will consist of multi-units with two or more family units and any appropriately related facilities. Funds may also be used to provide approved recreational and service facilities appropriate for use in connection with the housing and to buy and improve the land on which the buildings are to be located. Loans may not be made for nursing, special care, or institutional-type homes. Grants are in the form of rental assistance for some units within the underwritten property. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: Applicants may be individuals, cooperatives, nonprofit organizations, State or local public agencies, profit corporations, trusts, partnerships, limited partnerships, and be unable to finance the housing either with their own resources or with credit obtained from private sources. However, applicants must be able to assume the obligations of the loan, furnish adequate security, and have sufficient income for repayment. They must also have the ability and intention of maintaining and operating the housing for purposes for which the loan is made. Loans may be made in communities up to 10,000 people in MSA areas and some communities up to 20,000 population in non- MSA areas. Applicants in towns of 10,000 to 20,000 should check with their local Rural Development; office to determine if the agency can serve them. Assistance is available to eligible applicants in States, Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana's, and the Trust Territory of the Pacific Islands. Beneficiary Eligibility: Occupants must be very low-, low- or moderate-income families households, elderly, handicapped, or disabled persons. Credentials/Documentation: Applicants must furnish evidence of the following: (a) A comprehensive market analysis showing the need for such service; (b) a legal capacity to incur the obligation and operate the housing; (c) a sound budget; (d) good credit history; (e) inability to obtain necessary funds from other sources on terms and conditions that would enable the applicants to rent the units for amounts that are within payment ability of eligible very low, low-, or moderate-income family, households, elderly, handicapped, or disabled occupants. This program is excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS: Preapplication Coordination: Not applicable. This program is excluded from coverage under E.O. 12372. Application Procedure: For FY 06 the Section 515 Program will be awarded through a Notice of Funding Availability (NOFA) announced in the Federal Register March 15, 2006. The NOFA application period is 60 days from the date of the announcement. The NOFA deadline is May 14, 2006. Award Procedure: Applications will be scored on the following factors (the factors are the same as last year's except for the additional requirement (shown in italics) that has been added to factor 4, the National Office initiative): (1) The presence and extent of leveraged assistance for the units that will serve RHS income-eligible tenants at basic rents comparable to those if RHS provided full financing, computed as a percentage of the RHS total development cost. (0 to 20 points); (2) the units to be developed are in a colonia, tribal land, EZ, EC, or REAP community, or in a place identified in the State Consolidated Plan or State Needs Assessment as a high need community for multifamily housing. ("State" refers to the State Government.) (20 points); (3) the loan request includes donated land meeting the provisions of 7 CFR 1944.215(r)(4). (5 points); and (4) in States where RHS has an on-going formal working relationship, agreement or Memorandum of Understanding (MOU) with the State to provide State resources (State funds, State RA, HOME funds, CDBG funds, or LowIncome Housing Tax Credits) for RHS proposals; or where the State provides preference or points to RHS proposals in awarding such State resources, 20 points will be provided to loan requests that include such State resources in an amount equal to at least 5 percent of the total development cost. (National office initiative) (20 points). Deadlines: May 14, 2006. Range of Approval/Disapproval Time: Within 30 days, States will review and score the applications and submit a list of applications in rank and point score order to the National Office. Following the State's submission of applications to the National Office, within 30 days the National Office will rank applications on a nation-wide basis and advise States of the results. Appeals: Applicant may request reconsideration on the basis of pertinent facts concerning the application. Renewals: Applicants may reapply at next Notice of Funding Availability (NOFA). ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: This program is now a Notice of Funding Availability (NOFA). Rural Development State Directors use needs criteria to establish a list of targeted communities for which applicants may request loan funds. Applications are then rated competitively in order to select recipients. Length and Time Phasing of Assistance: Loans are for up to 30 years at an effective 1 percent interest rate, and are POST ASSISTANCE REQUIREMENTS: Monthly progress reports are to be made to the Rural Development Audits: For borrowers not covered under OMB Circular No. A-133, annual audits conducted in accordance with Government Auditing Standards are required from borrowers with 25 or more units in any project. In accordance with the provisions of 7 CFR Part 3052, "Audits of States, Local Governments, and Non-Profit Organizations," which implement OMB Circular No. A133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that receive financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in 7 CFR 3052. Records: Good business records required. FINANCIAL INFORMATION: 12-4141-0-3-371; 12-2081-0-1-371. Obligations: (New Construction funds) FY 05 $99,200,000; FY 06 est $34,652 (for repair/rehab only; and FY 07 est $36,382,000 (for repair/rehab only). Range and Average of Financial Assistance: Loan limit per application is $1 million. Total limit per State (reserve and set-aside funds are not included in this cap): $2.5 million. PROGRAM ACCOMPLISHMENTS: In fiscal year 2005, development of estimated 783 housing units were provided and 5,077 units were rehabilitated. REGULATIONS, GUIDELINES, AND LITERATURE: 7 CFR Part 3560. Handbook 1-Loan Origination, Handbook 2-Asset Management, Handbook 3-Project Servicing. INFORMATION CONTACTS: Regional or Local Office: Refer to the NOFA which lists Offices to contact or consult your local telephone directory for Rural Development county or district office number. If no listing, get in touch with appropriate Rural Development State office listed in Appendix IV of the Catalog or on the internet at http://www.rurdev.usda.gov/recd_map.html. Headquarters Office: Director, Multi-Family Housing Processing Division, Rural Development, Department of Agriculture, Washington, DC 20250. Telephone: (202) 720-1604. Use the same number for FTS. Web Site Address: http://www.rurdev.usda.gov. RELATED PROGRAMS: 10.405, Farm Labor Housing Loans and Grants; 10.411, Rural Housing Site Loans and Self Help Housing Land Development Loans; 10.427, Rural Rental Assistance Payments. EXAMPLES OF FUNDED PROJECTS: Not applicable. CRITERIA FOR SELECTING PROPOSALS: Not applicable. admitted for permanent residence or on indefinite parole. Loan recipients must have sufficient income to repay the loan. Grant recipients must be 62 years of age or older and be unable to repay a loan for the part of the assistance received as a grant. Applicant's income may not exceed the very low-income limit set forth in RD Instructions. Credentials/Documentation: Evidence of ownership and verification of income and debts. Grant recipients must provide evidence of age. This program is excluded from coverage under OMB Circular No. A-87. APPLICATION AND AWARD PROCESS: Preapplication Coordination: None. This program is excluded from coverage under OMB Circular No. A-102 and E.O. 12372. Application Procedure: Applicants must file an application form at the Rural Development field office serving the county where the dwelling is located. This program is excluded from coverage under OMB Circular No. A-110. Award Procedure: Delegated to Community Development Manager. Deadlines: None. Range of Approval/Disapproval Time: From 30 to 60 days from time applications are filed if no backlog of applications exists. Applications for assistance far exceed available funding. There is generally a waiting list for funding. 10.417 VERY LOW-INCOME HOUSING REPAIR LOANS AND Appeals: GRANTS (Section 504 Rural Housing Loans and Grants) FEDERAL AGENCY: RURAL DEVOLOPMENT (RD) RURAL HOUSING PROGRAMS (RHP) DEPARTMENT OF AGRICULTURE AUTHORIZATION: Housing Act of 1949, Title V, Section 504, as amended, Public Laws 89117, 89-754, and 92-310, 42 U.S.C. 1474. OBJECTIVES: Section 504 loans and grants are intended to help very low-income owneroccupants in rural areas repair their properties. TYPES OF ASSISTANCE: Direct Loans; Project Grants. USES AND USE RESTRICTIONS: Loan funds may be used to make general repairs and improvements to properties or to remove health and safety hazards. Grant funds may be used only to pay for the costs for repairs and improvements that will remove identified health and safety hazards or to repair or remodel dwellings to make them accessible for houshold members with disabilities. Loans and grants are typically used for repair or replacement of heating, plumbing or electrical services, roof or basic structure as well as water and waste disposal systems, and weatherization. Loans bear an interest rate of one percent and are repaid over a period up to 20 years. In addition to the above purpose, loan funds may be used to modernize the dwelling. Maximum loan amount cannot exceed a cumulative total of $20,000 to any eligible person and maximum lifetime grant assistance is $7,500 to any eligible person. The house must be located in an eligible rural area which does not exceed 10,000 population. Some places with populations between 10,000 and 25,000 may be eligible if not within a Metropolitan Statistical Area (MSA). Assistance is available in States, the Commonwealth of Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, the Commonwealth of Northern Mariana's and the Trust Territories of the Pacific Islands. ELIGIBILITY REQUIREMENTS: Applicant Eligibility: Applicants must own and occupy a home in a rural area; and be a citizen of the United States or reside in the United States after having been legally admitted for permanent residence or on indefinite parole. Loan recipients must have sufficient income to repay the loan. Grant recipients must be 62 years of age or older and be unable to repay a loan for that part of the assistance received as a grant. Applicant's income may not exceed the very low-income limit set forth in RD Instructions. Beneficiary Eligibility: Applicants must own and occupy a home in a rural area; and be a citizen of the United States or reside in the United States after having been legally Agency regulations providing customers with the rights for an informal review, mediation or alternative dispute resolution (ADR), or appeal to the National Appeals Division (NAD) are contained in 7 CFR Part 3550. NAD regulations are found at 7 CFR Part 11. Requests for an informal review, mediation and ADR must be received within 30 days from the date of the adverse decision. Requests for an appeal to NAD must be received within 30 days of receipt of the adverse decision. Renewals: Applicants may reapply at any time. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: This program has no matching requirements. This program has no statutory formula. The following basic formula criteria are to allocate program loan funds to various States: (A x .50 + B x .50) x funds available = State basic formula allocation. Where "A" is State's percentage of national number of rural occupied units; and "B" is State's percentage of national number of rural households below 50 percent of area median income. The formula for grants is: (A x 1/3 + B x 1/3 + Cx 1/3) x funds available = State basic allocation. Where "C" is State's percentage of national rural population 62 years of age and older. The data source for each of these criteria are based on the latest census data available. Length and Time Phasing of Assistance: This assistance is available throughout the year by means of an established allocation system. Funds are usually released to borrowers/grantees as a lump sum payment for completed repairs or, as needed, for repairs in progress. POST ASSISTANCE REQUIREMENTS: None. Audits: None. Records: Borrowers and/or grantees are not required to, but should retain copies of loan or grant-related documents. FINANCIAL INFORMATION: Account Identification: (Loans) 12-4141-0-3-371; 12-2081-0-1-371; (Grants) 12-2064-0-1-604. Obligations: (Loans) FY 05 $34,719,946; FY 06 est $34,650,000; and FY 07 est $36,800,000. (Grants) FY 05 $31,596,483; FY 06 est $30,120,000; and FY 07 est $29,700,000. Range and Average of Financial Assistance: During FY 05 Loans Averaged $5,971; Grants Averaged $5,241. PROGRAM ACCOMPLISHMENTS: In fiscal year 2005, 5,971 loans were made and 6,029 grants were made. REGULATIONS, GUIDELINES, AND LITERATURE: 7 CFR Part 3550, Direct Single Family Housing Loans and Grants. (no |