Regulatory Waiver Requests Granted

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of the Secretary

[Docket No. N-94-3038; FR-2736-N-11]

Regulatory Waiver Requests Granted

AGENCY: Office of the Secretary, HUD.

ACTION: Public notice of the granting of regulatory waivers.

-----------------------------------------------------------------------

SUMMARY: Under section 106 of the Department of Housing and Urban

Development Reform Act of 1989 (Reform Act), the Department is required

to make public all approval actions taken on waivers of regulations.

This Notice provides notification of waivers granted during the period

from March 1 to September 30, 1993.

FOR FURTHER INFORMATION CONTACT:

For general information about this Notice, contact Myra L. Ransick,

Assistant General Counsel for Regulations, room 10276, Department of

Housing and Urban Development, 451 Seventh Street, SW., Washington, DC

20410; (202) 708-3055; (TDD) (202) 708-3259. (These are not toll-free

numbers.) For information concerning a particular waiver action,

contact the person whose name and address is set out for the particular

item in the accompanying list of waiver-grant actions.

SUPPLEMENTARY INFORMATION: Section 106 of the Reform Act amended

section 7 of the Department of Housing and Urban Development Act (42

U.S.C. 3535(q)(3)) to provide:

1. Any waiver of a regulation must be in writing and must specify

the grounds for approving the waiver;

2. Authority to approve a waiver of a regulation may be delegated

by the Secretary only to an individual of Assistant Secretary rank or

equivalent rank, and the person to whom authority to waive is delegated

must also have authority to issue the particular regulation to be

waived;

3. Not less than quarterly, the Secretary must notify the public of

all waivers of regulations that the Department has approved, by

publishing a notice in the Federal Register. These Notices (each

covering the period since the most recent previous notification) shall:

a. Identify the project, activity, or undertaking involved;

b. Describe the nature of the provision waived, and the designation

of the provision;

c. Indicate the name and title of the person who granted the waiver

request;

d. Describe briefly the grounds for approval of the request;

e. State how additional information about a particular waiver grant

action may be obtained.

Today's document notifies the public of HUD's waiver-grant activity

from March 1 to September 30, 1993. The next Notice, which will be

published in the near future, will cover the period from October 1

through December 31, 1993.

For ease of reference, waiver requests granted by departmental

officials authorized to grant waivers are listed in a sequence keyed to

the section number of the HUD regulation involved in the waiver action.

For example, a waiver-grant action involving exercise of authority

under 24 CFR 24.200 (involving the waiver of a provision in part 24)

would come early in the sequence, while waivers in the section 8 and

section 202 programs (24 CFR chapter VIII) would be among the last

matters listed. Where more than one regulatory provision is involved in

the grant of a particular waiver request, the action is listed under

the section number of the first regulatory requirement in title 24 that

is being waived as part of the waiver-grant action. (For example, a

waiver of both Sec. 811.105(b) and Sec. 811.107(a) would appear

sequentially in the listing under Sec. 811.105(b).) Waiver-grant

actions involving the same initial regulatory citation are in time

sequence beginning with the earliest-dated waiver-grant action.

Should the Department receive additional reports of waiver actions

taken during the period covered by this report before the next report

is published, the next updated report will include these earlier

actions.

Accordingly, information about approved waiver requests pertaining

to regulations of the Department is provided in the Appendix to this

Notice.

Dated: March 24, 1994.

Henry G. Cisneros,

Secretary.

Appendix--Listing of Waivers of Regulatory Requirements Granted by

Officers of the Department of Housing and Urban Development March 1,

1993 Through September 30, 1993

Note to reader: The person to be contacted for additional

information about the waiver-grant items in this listing is: Oliver

Walker, Chief, Directives, Reports and Forms Branch, Office of

Housing, Management Division, Department of Housing and Urban

Development, 451 Seventh Street, SW., Washington, DC 20410,

Telephone: (202) 708-1694.

1. Regulation: 24 CFR 248.233(f)--Prepayment of Low Income Housing

Mortgages.

Project/Activity: Multiple projects under the control of Carabetta.

Enterprises, Inc., Managing General Partner.

Nature of Requirement: The Regulation prohibits Approvals of Plans

of Action when audit findings remain open.

Granted By: Nicolas P. Retsinas, Assistant Secretary For Housing-

Federal Housing Commissioner.

Date Granted: September 23, 1993.

Background: This is in response to William Hernandez's memorandum,

dated July 7, 1993, requesting a blanket waiver of the subject

regulation with respect to 26 Plans of Action for which Carabetta

Enterprises, Inc. (CEI) or Joseph Carabetta is the managing general

partner. The request for the waiver is required because an audit report

issued by the Regional Inspector General for Audit on March 5, 1993,

cited CEI for the improper diversion of funds from project accounts

and/or the nonpayment of section 236 Excess Income totalling

approximately $7.5 million from 40 properties, including the 26 for

which the Plans of Action have been filed. The subject regulation

prohibits approval of any Plan of Action so long as audit findings are

outstanding.

Reason Waived: The mortgagors propose to resolve the audit findings

by repaying the diverted funds out of equity proceeds distributed as

incentives pursuant to Plans of Action approved under the Emergency

Low-Income Housing Preservation Act of 1987 (ELIHPA). Your office has

also proposed a penalty in the amount of $3 million in lieu of pursuing

civil money penalties or affirmative litigation for double damages.

Further, your office proposes to collect the full amount of the

diverted funds and the penalty from the proceeds of the approved Plans

of Action in toto before the mortgagors may distribute any proceeds to

the partnerships.

This office approves the waiver request on the following

conditions.

Mortgagor Requirements

All diversions and unpaid section 236 Excess Income, plus interest

accruing at the Treasury Bill rate from the date of the audit report,

will be paid back to the project accounts or to the Department as

appropriate from equity distributed pursuant to approved Plans of

Action. All diversions must be restored and all unpaid Excess income

must be repaid prior to the mortgagor retaining any of the equity for

distribution to any of the partnerships.

CEI will agree to pay $4,010,000, which represents $5,000 per audit

violation for 802 violations. The full amount of the payment must be

remitted to the Department prior to the mortgagor retaining any equity

distribution from approved Plans of Action to any of the partnerships.

All diversions repaid to the project account may be used to meet

accounts payable to unaffiliated vendors. After all such obligations

have been discharged, the balance of the funds will be deposited into

the Reserve for Replacement escrow account with the mortgagee. The

funds may not be used to pay obligations due affiliated or identity-of-

interest vendors, capital advances made by any partnership or partner,

deposited into the Residual Receipts escrow account or to pay accrued,

unpaid distributions to any partnership.

The mortgagors will agree to apply for section 241(f) equity loans

within five (5) working days of final approval of ELIHPA Plans of

Action.

The mortgagors will agree to maintain the properties in good

physical condition for the term of the use agreement executed as a

condition for receiving incentives pursuant to an approved ELIHPA Plan

of Action.

The mortgagors will agree to submit all required reports timely.

Such reports will include monthly and quarterly reports of project

operations, accounts payable and accounts receivable as directed by

your office.

The mortgagors will agree that all books, records, files and

related documents will be available for review, inspection and audit by

the Department or its designee for the term of the ELIHPA use

agreement.

The mortgagors will agree to offer a right of first refusal of sale

on each property to the Department's designee upon payment in full of

the mortgage note at the expiration of the mortgage.

The mortgagors will agree to extend the affordability restrictions

for a period of not less than 30 years beyond the term of the original

mortgage for each project for which an ELIHPA Plan of Action is

approved.

CEI and Joseph Carabetta will voluntarily agree to be suspended

from participation in any program/projects operated by the Department

for a period of two (2) years, reviewable annually by your office upon

request of CEI or Joseph Carabetta.

Field Office Requirements

Your office will prepare a schedule of payables due the projects

and the Department, including all diversions, unpaid section 236 excess

income, accrued interest and civil money penalties. Upon approval of

each ELIHPA Plan of Action, the funding request to the Office of

Preservation and Property Disposition will include an updated copy of

this schedule showing: interest accrued since the last funding request,

proceeds of the equity loan and application of the proceeds to project

accounts, unpaid Excess Income and penalties as appropriate. This

report will be required until the entire amount of funds owed is

repaid. Funds will be applied first to diversions and interest, second

to delinquent excess income and interest, and third to penalties, until

all are paid.

Upon approval of an ELIHPA Plan of Action, your office will report

a waiver of 24 CFR 248.233(f) for the project.

The first 80% of the penalty is to be remitted to be deposited in

the Special Risk Insurance Fund. The balance (20%) of the penalty

should have separate checks issued, on a unit proportionate basis, to

tenant associations or their legal representatives, of each of the 40

projects for use as those associations see fit.

If you have any questions about the terms and conditions of this

waiver, please call Kevin East at (202) 708-2300.

2. Regulation: 24 CFR 811.105(b), 811.107(a)(2), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Laurel Woods Housing Finance Corporation

refunding of bonds which financed a section 8 assisted project, Laurel

Woods Apartments, FHA No. 073-35444, South Bend, Indiana.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

FHA Commissioner.

Date Granted: September 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on September 2, 1993.

Refunding bonds have been priced to an average yield of 6.10%. The tax-

exempt refunding bond issue of $2,775,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt bonds at

an 11.75% interest rate at the call date in 1993 with tax-exempt bonds

yielding 6.10%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 11.75%

to 7.0%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's Section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

3. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Lexington (Tennessee) HFC refunding of bonds

which financed a section 8 assisted project: Lexington Village

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 1, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

February 24, 1993. Refunding bonds have been priced to an average yield

of 6.0%. The tax-exempt refunding bond issue of $1,565,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11% at the call date in 1993 with tax-exempt bonds

yielding 6.07%. The refunding will also substantially reduce the FHA

mortgage interest rates at expiration of the HAP contract, from 11.5%

to approximately the bond rate, thus reducing FHA mortgage insurance

risk. The refunding serves the important public purposes of reducing

HUD's section 8 program costs, improving Treasury tax revenues (helping

reduce the budget deficit), and increasing the likelihood that projects

will continue to provide housing for lower-income families after

subsidies expire, a priority HUD objective.

4. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Elkhart, Indiana HFC refunding of bonds which

financed a section 8 assisted project, Town and Country Apartments (FHA

No. 073-35454).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 18, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 9, 1993. Refunding

bonds have been priced to an average yield of 6.6%. The tax-exempt

refunding bond issue of $2,605,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

11.75% at the call date in 1993 with tax-exempt bonds yielding 6.6%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 11.75% to close to the

bond rate, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

5. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Lakeside, Indiana HDC refunding of bonds which

financed a Section 8 assisted project, Lakeside Apartments (FHA No.

073-35413).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 22, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on January 19, 1993.

Refunding bonds have been priced to an average yield of 5.98%. The tax-

exempt refunding bond issue of $1,765,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10.2% at the call date in 1993 with tax-exempt bonds yielding 5.98%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 10.48% to 7.05%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

6. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Salinas, California, RA refunding of bonds which

financed a section 8 assisted project, La Casas de Madera Apartments

(FHA No. 121-35759).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 25, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 19, 1992.

Refunding bonds have been priced to an average yield of 6.02%. The tax-

exempt refunding bond issue of $4,865,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.75% at the call date in 1993 with tax-exempt bonds yielding

6.02%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 12% to 6.25%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

7. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Morristown (Tennessee) HDC refunding of bonds

which financed a section 8 assisted project, Lynnridge Apartments (FHA

No. 087-35120).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on February 3, 1993.

Refunding bonds have been priced to an average yield of 6.4%. The tax-

exempt refunding bond issue of $2,670,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10.5% at the call date in 1993 with tax-exempt bonds yielding 6.4%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 10.74% to 6.95%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

8. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Luzerne (PA) County HFC refunding of bonds which

financed a section 8 assisted project, Freeland Elderly Project (FHA

No. 034-35167).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on February 2, 1993.

Refunding bonds have been priced to an average yield of 6.26%. The tax-

exempt refunding bond issue of $1,870,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.5% at the call date in 1993 with tax-exempt bonds yielding 6.26%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 11.48% to 6.625%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

9. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Hinesville (Georgia) HDC refunding of bonds which

financed an uninsured section 8 assisted project: Pineland Square

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 31, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

March 23, 1993. Refunding bonds have been priced to an average yield of

7.28%. The tax-exempt refunding bond issue of $2,740,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 13% at the call date in 1993 with tax-exempt bonds

yielding 7.28%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, thus reducing

FHA mortgage insurance risk. The refunding serves the important public

purposes of reducing HUD's Section 8 program costs, improving Treasury

tax revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

10. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Birmingham HDC refunding of bonds which financed

two section 8 assisted projects in Alabama: Janmar and Fair Park

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 23, 1993.

Refunding bonds have been priced to an average yield of 6.22%. The tax-

exempt refunding bond issue of $1,015,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10%-10.75% at the call date in 1993 with tax-exempt bonds yielding

6.22%. The refunding will also substantially reduce the FHA mortgage

interest rates at expiration of the HAP contract, from 11.5% to 7.15%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

11. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Savannah HA refunding of bonds which financed a

section 8 assisted project: Crossroads Villas Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 6, 1993. Refunding

bonds have been priced to an average yield of 6.08%. The tax-exempt

refunding bond issue of $1,380,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

13.35% at the call date in 1992 with tax-exempt bonds yielding 6.08%.

The refunding will also substantially reduce the FHA mortgage interest

rates at expiration of the HAP contract from 11.5% to a rate close to

the refunding bond rate, thus reducing FHA mortgage insurance risk. The

refunding serves the important public purposes of reducing HUD's

Section 8 program costs, improving Treasury tax revenues (helping

reduce the budget deficit), and increasing the likelihood that projects

will continue to provide housing for lower-income families after

subsidies expire, a priority HUD objective.

12. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Columbus, Georgia HDC refunding of bonds which

financed a section 8 assisted project, Moultrie Manor Apartments (FHA

No. 061-35370).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 14, 1993.

Refunding bonds have been priced to an average yield of 6.38%. The tax-

exempt refunding bond issue of $2,200,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.49% at the call date in 1993 with tax-exempt bonds yielding

6.38%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract from 11.75% to 5.5%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

13. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Washoe, Nevada HFC refunding of bonds which

financed a section 8 assisted project, Washoe Mills Apartments (FHA No.

125-35088).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 25, 1993.

Refunding bonds have been priced to an average yield of 6.09%. The tax-

exempt refunding bond issue of $3,440,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10.2% at the call date in 1993 with tax-exempt bonds yielding 6.8%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 10% to 6.8%, thus reducing

FHA mortgage insurance risk. The refunding serves the important public

purposes of reducing HUD's Section 8 program costs, improving Treasury

tax revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

14. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Livingston, Georgia HDC refunding of bonds which

financed a section 8 assisted project, Livingston Meadows Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 23, 1993.

Refunding bonds have been priced to an average yield of 6.22%. The tax-

exempt refunding bond issue of $1,175,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10%-10.75% at the call date in 1993 with tax-exempt bonds yielding

6.22%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 12% to 6.05%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

15. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project Activity: Greater Kentucky HAC refunding of bonds which

financed two section 8 assisted projects: Brown Proctor and California

Square II Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 3, 1993. Refunding

bonds have been priced to an average yield of 6.22%. The tax-exempt

refunding bond issue of $3,150,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 10%-

11.5% at the call date in 1992 with tax-exempt bonds yielding 6.22%.

The refunding will also substantially reduce the FHA mortgage interest

rates at expiration of the HAP contract, from 12% to 6.90%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective established by Secretary Kemp.

16. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project Activity: Allegheny County RA refunding of bonds which

financed two section 8 assisted projects, Coraopolis Gardens Apartments

(FHA Number 033-35146) and Verona Gardens Apartments (FHA Number 033-

35147).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: May 4, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 14, 1993.

Refunding bonds have been priced to an average yield of 5.92%. The tax-

exempt refunding bond issue of $3,415,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.5% at the call date in 1993 with tax-exempt bonds yielding 5.92%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 12% to 6.15%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

17. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Vicksburg, Mississippi HA refunding of bonds

which financed a section 8 assisted project, New Main Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: May 11, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 6, 1993. Refunding

bonds have been priced to an average yield of 6.04%. The tax-exempt

refunding bond issue of $2,205,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

10.25% at the call date in 1993 with tax-exempt bonds yielding 6.04%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 10.73% to 7.25%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

18. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Baytown, Texas HA refunding of bonds which

financed a section 8 assisted project, Baytown Terrace Apartments (FHA

No. 114-35350).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: May 14, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on February 18, 1993.

Refunding bonds have been priced to an average yield of 6.35%. The tax-

exempt refunding bond issue of $4,355,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.5% at the call date in 1993 with tax-exempt bonds yielding 6.35%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 12% to 6.36%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

19. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: The Greater Tennessee HDC Ohio HFA refunding of

bonds which financed two section 8 assisted projects: Hendersonville

and Oakhaven Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retinas, Assistant Secretary for Housing-FHA

Commissioner.

Date Granted: May 21, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on April 19, 1993.

Refunding bonds have been priced to an average yield of 6.09%. The tax-

exempt refunding bond issue of $2,990,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt bonds

yielding 11.9% at the call date in 1993 with tax-exempt bonds yielding

6.08%. The refunding will also substantially reduce the FHA mortgage

interest rates at expiration of the HAP contract, from 11.2% to 6.75%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

20. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(2),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Douglas-Coffee LHC (Douglas, Georgia) refunding

of bonds which financed a section 8 assisted project, Georgian Woods

Apartments (FHA No. 061-35370).

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

FHA Commissioner.

Date Granted: May 27, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on May 24, 1993. Refunding

bonds have been priced to an average yield of 6.08%. The tax-exempt

refunding bond issue of $1,880,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 11.5%

at the call date in 1993 with tax-exempt bonds yielding 6.08%. The

refunding will also substantially reduce the FHA mortgage interest rate

at expiration of the HAP contract, from 11.77% to a rate commensurate

with the refunding bond yield, thus reducing FHA mortgage insurance

risk. The refunding serves the important public purposes of reducing

HUD's Section 8 program costs, improving Treasury tax revenues,

(helping reduce the budget deficit), and increasing the likelihood that

projects will continue to provide housing for lower-income families

after subsidies expire, a priority HUD objective.

21. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Memphis, Tennessee HA refunding of bonds which

financed a section 8 assisted project, Saints Courts Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--

Federal Housing Commissioner.

Date Granted: May 27, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

February 23, 1993. Refunding bonds have been priced to an average yield

of 6.05%. The tax-exempt refunding bond issue of $2,845,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 10.5% at the call date in 1993 with tax-exempt bonds

yielding 6.05%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.74%

to 5.35%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

22. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Memphis, Tennessee HA refunding of bonds which

financed a section 8 assisted project, Southwood Townhouses Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--

Federal Housing Commissioner.

Date Granted: May 27, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 2, 1993. Refunding

bonds have been priced to an average yield of 6.07%. The tax-exempt

refunding bond issue of $1,430,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 11.5%

at the call date in 1993 with tax-exempt bonds yielding 6.07%. The

refunding will also substantially reduce the FHA mortgage interest rate

at expiration of the HAP contract, from 12% to 6.41%, thus reducing FHA

mortgage insurance risk. The refunding serves the important public

purposes of reducing HUD's section 8 program costs, improving Treasury

tax revenues (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

23. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),

811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Cave Spring, GA HA refunding of bonds which

financed a section 8 assisted project, Heatherwood Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

FHA Commissioner.

Date Granted: June 9, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on May 21, 1993. Refunding

bonds have been priced to an average yield of 6.38%. The tax-exempt

refunding bond issue of $1,905,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

11.75% at the call date in 1993 with tax-exempt bonds yielding 6.38%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 12% to 7.50%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

24. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: The HDC of Washington refunding of bonds which

financed two section 8 assisted projects in Seattle: New Central

Building and Jackson Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

FHA Commissioner.

Date Granted: June 16, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on June 1, 1993. Refunding

bonds have been priced to an average yield of 5.95%. The tax-exempt

refunding bond issue of $1,400,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt bonds yielding

5.95%. The refunding will also substantially reduce the FHA mortgage

interest rates at expiration of the HAP contract, from 11.5% to 6.15%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

25. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Birmingham, Alabama HA refunding of bonds which

financed a section 8 assisted project, Roosevelt Manor Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on June 8, 1993. Refunding

bonds have been priced to an average yield of 6.10%. The refunding will

also substantially reduce the FHA mortgage interest tax-exempt

refunding bond issue of $1,210,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 10%

to 10.75% at the call date in 1993 with tax-exempt bonds yielding

6.10%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 11.78% to 6.70%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

26. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project Activity: Enterprise, Alabama HA refunding of bonds which

financed a section 8 assisted project, Meadowbrook Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on May 24, 1, 1993.

Refunding bonds have been priced to an average yield of 6.22%. The tax-

exempt refunding bond issue of $1,870,000 at current low-interest rates

will save Section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11% to 12% at the call date in 1993 with tax-exempt bonds yielding

6.22%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 12% to 6.8%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's Section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

27. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Russellville, Alabama HA refunding of bonds which

financed a section 8 assisted project, Village Square Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

June 2, 1993. Refunding bonds have been priced to an average yield of

6.10%. The tax-exempt refunding bond issue of $1,500,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.5% at the call date in 1993 with tax-exempt bonds

yielding 6.10%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 12% to

5.55%, thus reducing FHA mortgage insurance risk. The refunding serves

the important public purposes of reducing HUD's section 8 program

costs, improving Treasury tax revenues, (helping reduce the budget,

deficit), and increasing the likelihood that projects will continue to

provide housing for lower-income families after subsidies expire, a

priority HUD objective.

28. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(2), 811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: The Industrial Development Authority of the

County of Maricopa, AZ refunding of bonds which financed one Section 8

assisted project in Guadalupe (Arizona), Barrio Nuevo.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

FHA Commissioner.

Date Granted: June 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR Sec. 207.259(e) to call debentures prior to

maturity. This refunding proposal was approved by HUD on June 11, 1993.

Refunding bonds have been priced to an average yield of 5.90%. The tax-

exempt refunding bond issue of $2,880,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt bonds

yielding 11.75% at the call date in 1993 with tax-exempt bonds yielding

5.90%. The refunding will also substantially reduce the FHA mortgage

interest rates at expiration of the HAP contract, from 12.00% to 6.80%,

thus reducing FHA mortgage insurance risk. Several liens placed on the

project will be substantially forgiven and through the HUD required TPA

this will become a stand-alone project to which no other liens can be

attached. The refunding serves the important public purposes of

reducing HUD's section 8 program costs, improving Treasury tax

revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

29. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),

811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Allegheny County, Pennsylvania HA refunding of

bonds which financed a section 8 assisted project, Grayson Court

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

June 15, 1993. Refunding bonds have been priced to an average yield of

6.04%. The tax-exempt refunding bond issue of $1,640,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11% at the call date in 1993 with tax-exempt bonds

yielding 6.04%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract from 11.23% to

6.90%, thus reducing FHA mortgage insurance risk. The refunding serves

the important public purposes of reducing HUD's Section 8 program

costs, improving Treasury tax revenues, (helping reduce the budget

deficit), and increasing the likelihood that projects will continue to

provide housing for lower-income families after subsidies expire, a

priority HUD objective.

30. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Allegheny County, Pennsylvania HA refunding of

bonds which financed a section 8 assisted project, Swissvale

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

June 8, 1993. Refunding bonds have been priced to an average yield of

6.0%. The tax-exempt refunding bond issue of $3,850,000 at current low-

interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds

yielding 6.0%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.66%

to 6.6%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

31. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: The Outer Drive HFC (instrumentality of the City

of Detroit) refunding of bonds which financed a Section 8 assisted

project, the Greenhouse Project.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

May 7, 1993. Refunding bonds have been priced to an average yield of

6.03%. The tax-exempt refunding bond issue of $7,575,000 at current

low-interest rates will save Section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.5% at the call date in 1993 with tax-exempt bonds

yielding 6.03%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 11.5% to

5.25%, thus reducing FHA mortgage insurance risk. The refunding serves

the important public purposes of reducing HUD's section 8 program

costs, improving Treasury tax revenues, (helping reduce the budget

deficit), and increasing the likelihood that projects will continue to

provide housing for lower-income families after subsidies expire, a

priority HUD objective.

32. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Vicksburg, MS HA refunding of bonds which

financed a Section 8 assisted project, Magnolia Manor Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: July 20, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount. HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on June 17, 1993. Refunding

bonds have been priced to an average yield of 5.84%. The tax-exempt

refunding bond issue of $2,590,000 at current low-interest rates will

save Section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

9.75%-10% at the call date in 1993 with tax-exempt bonds yielding

5.84%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 10.5% to 7.10%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

33. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Dayton, Tennessee HA refunding of bonds which

financed a section 8 assisted project, Pikeville Townhouses, FHA No.

087-35146.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: July 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on June 17, 1993. Refunding

bonds have been priced to an average yield of 5.82%. The tax-exempt

refunding bond issue of $2,450,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax exempt coupons of 11%-

11.25% at the call date in 1993 with tax-exempt bonds yielding 5.82%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 11.74% to 6.95%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

34. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Springfield, Tennessee HA refunding of bonds

which financed a section 8 assisted project, Southfield Apartments, FHA

No. 086-35189.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--

Federal Housing Commissioner.

Date Granted: July 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on June 23, 1993. Refunding

bonds have been priced to an average yield of 6.11%. The tax-exempt

refunding bond issue of $2,430,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax exempt coupons of 9.5%-

11% at the call date in 1993 with tax-exempt bonds yielding 6.11%. The

refunding will also substantially reduce the FHA mortgage interest rate

at expiration of the HAP contract, from 10.85% to 6.5%, thus reducing

FHA mortgage insurance risk. The refunding serves the important public

purposes of reducing HUD's section 8 program costs, improving Treasury

tax revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

35. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Dayton, Kentucky HA refunding of bonds which

financed a section 8 assisted project, Speers Court Apartments, FHA No.

083-35566.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: July 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on March 15, 1993.

Refunding bonds have been priced to an average yield of 5.91%. The tax-

exempt refunding bond issue of $2,815,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 11.75% at the call date in 1993 with tax-exempt bonds yielding

5.91%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 12% to 6.25%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

36. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project Activity: Cleveland, Tennessee HA refunding of bonds which

financed a section 8 assisted project, Ocoee Village Apartments, FHA

No. 087-35150.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: July 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on July 9, 1993. Refunding

bonds have been priced to an average yield of 6.13%. The tax-exempt

refunding bond issue of $1,265,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of

10.4%-11.5% at the call date in 1993 with tax-exempt bonds yielding

6.13%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 11.57% to 6.75%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

37. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).

Project/Activity: Morristown, Tennessee HDC refunding of bonds

which financed a section 8 assisted project, McGhee Square Apartments.

Nature of Requirements: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: August 11, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

July 15, 1993. Refunding bonds have been priced to an average yield of

5.94%. The tax-exempt refunding bond issue of $2,700,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.24% at the call date in 1993 with tax-exempt bonds

yielding 5.94%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 11.49%

to 5.02%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

38. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).

Project/Activity: Greater Arkansas, Marianna, Arkansas HAC

refunding of bonds which financed a section 8 assisted project Hickey

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing--

Federal Housing Commissioner.

Date Granted: August 20, 1993.

Reasons Waived: The Part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

July 6, 1993. Refunding bonds have been priced to an average yield of

5.95%. The tax-exempt refunding bond issue of $1,425,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.14% at the call date in 1993 with tax-exempt bonds

yielding 5.95%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 12.00%

to 5.32%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

39. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), and 811.115(b).

Project/Activity: Cheyenne North Housing Development Corporation,

Cheyenne, Wyoming refunding of bonds which financed a section 8

assisted project, Cheyenne North Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: August 27, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

August 3, 1993. Refunding bonds have been priced to an average yield of

5.89%. The tax-exempt refunding bond issue of $2,160,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 9.88% at the call date in 1993 with tax-exempt bonds

yielding 5.89%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.125%

to 6.095%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

40. Regulation: 24 CFR 811.107(a)(2), 811.108(a)(1), 811.108(a)(3),

811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Albany, New York HA refunding of bonds which

financed a section 8 assisted project, Mansions Rehab Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 21, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

March 29, 1993. Refunding bonds were sold at an average yield of 6.50%.

The tax-exempt refunding bond issue of $1,955,000 at current low-

interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.55% at the call date in 1993 with tax-exempt bonds

yielding 6.50%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 11.75%

to 8.35%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

41. Regulation: 24 CFR 811.107(a)(2), 811.107(b), 811.108(a)(1),

811.108(a)(3), 811.114(b)(3), 811.114(d), 811.115(b).

Project/Activity: Chicago, Metropolitan HDC refunding of bonds

which financed a section 8 assisted project, Academy Square Apartments,

FHA No. 071-35493.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 30, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on September 8, 1993.

Refunding bonds have been priced to an average yield of 5.55%. The tax-

exempt refunding bond issue of $10,675,000 at current low-interest

rates will save section 8 subsidy. The Treasury also gains long-term

tax revenue benefits through replacement of outstanding tax-exempt

coupons of 9.25%-10.125% at the call date in 1993 with tax-exempt bonds

yielding 5.55%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.22%

to 6.65%, thus reducing FHA mortgage insurance risk. The refunding

serves the important public purposes of reducing HUD's section 8

program costs, improving Treasury tax revenues, (helping reduce the

budget deficit), and increasing the likelihood that projects will

continue to provide housing for lower-income families after subsidies

expire, a priority HUD objective.

42. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: The Northwestern Regional Housing Authority

refunding of bonds which financed a section 8 assisted project:

California Arms Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: March 22, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of a

refunding transaction in which bonds will be issued under section 103

of the Tax Code. This refunding proposal was approved by HUD on

September 21, 1992. Refunding bonds have been priced to an average

yield of 6.20%. The tax-exempt refunding bond issue of $1,095,000 at

current low-interest rates will save section 8 subsidy. The Treasury

also gains long-term tax revenue benefits through replacement of

outstanding tax-exempt coupons of 11.2% at the call date in 1992 with

tax-exempt bonds yielding 6.20%. The refunding will also substantially

reduce the FHA mortgage interest rates at expiration of the HAP

contract, from 11.2% to 7.45%, thus reducing FHA mortgage insurance

risk. The refunding serves the important public purposes of reducing

HUD's section 8 program costs, improving Treasury tax revenues,

(helping reduce the budget deficit), and increasing the likelihood that

projects will continue to provide housing for lower-income families

after subsidies expire, a priority HUD objective.

43. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: The Suffolk, Virginia RHA refunding of bonds

which financed a section 8 assisted project: Wilson Pines Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding bonds issued under section 103 of the Tax Code. This

refunding proposal was approved by HUD on March 23, 1993. Refunding

bonds have been priced to an average yield of 6.1%. The tax-exempt

refunding bond issue of $3,245,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 10.4%

at the call date in 1993 with tax-exempt bonds yielding 6.1%. The

refunding will also substantially reduce the FHA mortgage interest

rates at expiration of the HAP contract, from 10.7% to 5.1%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

44. Regulation: 24 CFR 811.114(d), 811.115(b), 811.1172.

Project/Activity: Plainfield, New Jersey HA refunding of bonds

which financed a section 8 assisted project: Liberty Village

Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: James E. Schoenberger, Associate General Deputy

Assistant Secretary for Housing.

Date Granted: April 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding bonds issued under section 103 of the Tax Code. This

refunding proposal was approved by HUD on April 23, 1993. Refunding

bonds have been priced to an average yield of 6.29%. The tax-exempt

refunding bond issue of $5,305,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 11.5%

at the call date in 1993 with tax-exempt bonds yielding 6.29%. The

refunding serves the important public purposes of reducing HUD's

section 8 program costs, improving Treasury tax revenues (helping

reduce the budget deficit), and increasing the likelihood that projects

will continue to provide housing for lower-income families after

subsidies expire, a priority HUD objective.

45. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.

Project/Activity: City of San Diego, California refunding of bonds

which financed a section 8 assisted project, University Canyon North

Apartments, FHA No. 129-35076.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: July 28, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

July 15, 1993. Refunding bonds have been priced to an average yield of

5.81%. The tax-exempt refunding bond issue of $3,490,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds

yielding 5.81%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.2% to

6.2%, thus reducing FHA mortgage insurance risk. The refunding serves

the important public purposes of reducing HUD's section 8 program

costs, improving Treasury tax revenues, (helping reduce the budget

deficit), and increasing the likelihood that projects will continue to

provide housing for lower-income families after subsidies expire, a

priority HUD objective.

46. Regulation: 24 CFR 811.114(d), 811.115(b), and 811.117.

Project/Activity: The Newark HA refunding of bonds which financed a

section 8 assisted project: St. Mary's Villa Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: June 10, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

April 9, 1993. Refunding bonds have been priced to an average yield of

6.12%. The tax-exempt refunding bond issue of $17,455,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 11.4%-12% at the call date in 1993 with tax-exempt

bonds yielding 6.12%. The refunding will also substantially reduce the

FHA mortgage interest rate at expiration of the HAP contract, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

47. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: San Bernardino, California HA refunding of bonds

which financed a section 8 assisted project, Virginia Terrace

Apartments, FHA No. 143-35075.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commission.

Date Granted: August 5, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on February 3, 1993.

Refunding bonds have been priced to an average yield of 5.76%. The tax-

exempt refunding bond issue of $3,835,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10%-11% at the call date in 1993 with tax-exempt bonds yielding

5.76%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 11.4% to 6.26%,

this reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

48. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: Sierra Vista, Arizona, IDA refunding of bonds

which financed a section 8 assisted project, Mountain View Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted by: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: August 19, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on July 15, 1993. Refunding

bonds have been priced to an average yield of 5.84%. The tax-exempt

refunding bond issue of $2,370,000 at current low-interest rates will

save section 8 subsidy. The Treasury also gains long-term tax revenue

benefits through replacement of outstanding tax-exempt coupons of 9%-

10.5% at the call date in 1993 with tax-exempt bonds yielding 5.84%.

The refunding will also substantially reduce the FHA mortgage interest

rate at expiration of the HAP contract, from 10.72% to 6.25%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

49. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: Fairfax County Department of Housing and

Community Development refunding of bonds which financed a section 8

assisted project, Burke Center Station Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: August 27, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refunding bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on August 18, 1993.

Refunding bonds have been priced to an average yield of 5.72%. The tax-

exempt refunding bond issue of $4,470,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 10.27% at the call date in 1993 with tax-exempt bonds yielding

5.72%. The refunding will also substantially reduce the FHA mortgage

interest rate effectively immediately, from 10.41% to 7.05%, thus

reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

50. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: St. Louis, Missouri IDA refunding of bonds which

financed a section 8 assisted project, Douglas Manor Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 8, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions under section 103 of the Tax Code. To credit

enhance refundings bonds not fully secured by the FHA mortgage amount,

HUD also agrees not to exercise its option under 24 CFR 207.259(e) to

call debentures prior to maturity. This refunding proposal was approved

by HUD on July 29, 1993. Refunding bonds have been priced to an average

yield of 5.83%. The tax-exempt refunding bond issue of $1,805,000 at

current low-interest rates will save section 8 subsidy. The Treasury

also gains long-term tax revenue benefits through replacement of

outstanding tax-exempt coupons of 10.8%-12% at the call date in 1993

with tax-exempt bonds yielding 5.83%. The refunding will also

substantially reduce the FHA mortgage interest rate at expiration of

the HAP contract, from 11.51% to 6.28%, thus reducing FHA mortgage

insurance risk. The refunding serves the important public purposes of

reducing HUD's section 8 program costs, improving Treasury tax

revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

51. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: Fairfax, County, Virginia RHA refunding of bonds

which financed a section 8 assisted project, Bridle Creek Apartments,

FHA No. 051-35318.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 15, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. This refunding proposal was approved by HUD on

September 2, 1993. Refunding bonds have been priced to an average yield

of 5.83%. The tax-exempt refunding bond issue of $3,175,000 at current

low-interest rates will save section 8 subsidy. The Treasury also gains

long-term tax revenue benefits through replacement of outstanding tax-

exempt coupons of 10.4% at the call date in 1993 with tax-exempt bonds

yielding 5.83%. The refunding will also substantially reduce the FHA

mortgage interest rate at expiration of the HAP contract, from 10.7% to

5.85%, thus reducing FHA mortgage insurance risk. The refunding serves

the important public purposes of reducing HUD's section 8 program

costs, improving Treasury tax revenues, (helping reduce the budget

deficit), and increasing the likelihood that projects will continue to

provide housing for lower-income families after subsidies expire, a

priority HUD objective.

52. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: North Dakota HFA refunding of bonds which

financed a section 8 assisted project, ``The 400'' Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 23, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions. To credit enhance refundings bonds not fully

secured by the FHA mortgage amount, HUD also agrees not to exercise its

option under 24 CFR 207.259(e) to call debentures prior to maturity.

This refunding proposal was approved by HUD on August 11, 1993.

Refunding bonds have been priced to an average yield of 5.75%. The tax-

exempt refunding bond issue of $1,975,000 at current low-interest rates

will save section 8 subsidy. The Treasury also gains long-term tax

revenue benefits through replacement of outstanding tax-exempt coupons

of 12%-12.75% at the call date in 1993 with tax-exempt bonds yielding

5.75%. The refunding will also substantially reduce the FHA mortgage

interest rate at expiration of the HAP contract, from 12% to 6.45%,

thus reducing FHA mortgage insurance risk. The refunding serves the

important public purposes of reducing HUD's section 8 program costs,

improving Treasury tax revenues, (helping reduce the budget deficit),

and increasing the likelihood that projects will continue to provide

housing for lower-income families after subsidies expire, a priority

HUD objective.

53. Regulation: 24 CFR 811.114(d), 811.115(b), 811.117.

Project/Activity: Nashville and Davidson County, Tennessee HEFB

refunding of bonds which financed a section 8 assisted project, Hickory

Forest Apartments.

Nature of Requirement: The Regulations set conditions under which

HUD may grant a section 11(b) letter of exemption of multifamily

housing revenue bonds from Federal income taxation and authorize call

of debentures prior to maturity.

Granted By: Nicolas P. Retsinas, Assistant Secretary for Housing-

Federal Housing Commissioner.

Date Granted: September 29, 1993.

Reasons Waived: The part 811 regulations cited above were intended

for original bond financing transactions and do not fit the terms of

refunding transactions under section 103 of the Tax Code. To credit

enhance refundings bonds not fully secured by the FHA mortgage amount,

HUD also agrees not to exercise its option under 24 CFR 207.259(e) to

call debentures prior to maturity. This refunding proposal was approved

by HUD on September 10, 1993. Refunding bonds have been priced to an

average yield of 5.59%. The tax-exempt refunding bond issue of

$2,470,000 at current low-interest rates will save section 8 subsidy.

The Treasury also gains long-term tax revenue benefits through

replacement of outstanding tax-exempt coupons of 9.5%-10.9% at the call

date in 1993 with tax-exempt bonds yielding 5.59%. The refunding will

also substantially reduce the FHA mortgage interest rate at expiration

of the HAP contract, from 11.06% to 5.08%, thus reducing FHA mortgage

insurance risk. The refunding serves the important public purposes of

reducing HUD's section 8 program costs, improving Treasury tax

revenues, (helping reduce the budget deficit), and increasing the

likelihood that projects will continue to provide housing for lower-

income families after subsidies expire, a priority HUD objective.

Note to Reader: The person to be contacted for additional

information about the waiver-grant items in this listing is: John

Comerford, Director, Financial Management Division, Office of Public

and Indian Housing, Department of Housing and Urban Development, 451

Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872,

TTD: (202) 708-0850 (These are not toll-free numbers).

54. Regulation: 24 CFR 882.103(b) and 887.201(b)(3).

Project/Activity: Deny Owner Participation in the section 8 Rental

Assistance Programs if the Owner's Property Taxes are Delinquent,

Detroit Housing Department (DHD).

Nature of Requirement: 24 CFR 882.103(b) and 887.201(b)(3) prohibit

a public housing agency (HA) from directly or indirectly reducing,

either in the provision of assistance to any family in finding a unit

or by any other action, any family's opportunity to choose among the

available units in the housing market.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing.

Date Granted: April 21, 1993.

Reason Waived: The Department is aware of an HA's need to weigh the

unsuitability of certain landlords against the family's ability to take

advantage of a wide range of housing choices. The supporting

documentation submitted by DHD reported that from October 1990 through

May 1992, there were only two cases where units selected by families

had owners with unpaid property taxes, and that in both cases the

owners agreed to make payment arrangements and the units were processed

for the program. The waiver was determined to be in the public interest

of the city of Detroit, and does not appear to result in any

significant reduction to the housing choices available to families.

55. Regulation: 24 CFR 882.730(a) and 882.732.

Project/Activity: Section 8 Project-Based Certificate Assistance

for 46 units of permanent housing for the homeless in Philadelphia

rehabilitated by the Committee for Dignity and Fairness for the

Homeless Housing Development, Inc. (Dignity).

Nature of Requirement: The Regulations require that an Agreement to

Enter Into Housing Assistance Payments Contract for Project-Based

Certificate Assistance must be executed prior to start of any

rehabilitation to be performed under the Agreement.

Granted by: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing.

Date Granted: April 16, 1993.

Reason Waived: Section 155 of the Housing and Community Development

Act of 1992, provides that the rehabilitation of 46 dwelling units in

Philadelphia for permanent housing for the homeless undertaken by

Dignity is deemed to have been conducted pursuant to an agreement with

the Secretary of Housing and Urban Development.

56. Regulation: 24 CFR 887.165(b).

Project/Activity: Homestead Housing Authority (HHA) extension of

the term of rental voucher beyond 120 days.

Nature of Requirement: Regulation limits the term of a rental

voucher to 120 days from the date of issuance.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing, PD.

Date Granted: March 15, 1993.

Reason Waived: Additional search time is necessary for families

issued rental vouchers by the HHA because of the severe shortage of

decent, safe and sanitary housing in Dade County as a result of

Hurricane Andrew. This waiver was granted only for the special disaster

rental vouchers provided by the Dire Emergency Supplemental

Appropriations Act of 1992. This waiver enables the Homestead Housing

Authority to extend the term for the special disaster rental vouchers

for an additional 120 days or a total term of 240 days.

57. Regulation: 24 CFR 887.165(b).

Project/Activity: Hialeah Housing Authority (HHA) extension of the

term of rental voucher beyond 120 days.

Nature of Requirement: Regulation limits the term of a rental

voucher to 120 days from the date of issuance.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing, PD.

Date Granted: March 15, 1993.

Reason Waived: Additional search time is necessary for families

issued rental vouchers by the HHA because of the severe shortage of

decent, safe and sanitary housing in Dade County as a result of

Hurricane Andrew. This waiver was granted only for the special disaster

rental vouchers provided by the Dire Emergency Supplemental

Appropriations Act of 1992. This waiver enables the Hialeah Housing

Authority to extend the term for the special disaster rental vouchers

for an additional 120 days or a total term of 240 days.

Note To Reader: The person to be contacted for additional

information about the waiver grant items in this listing is: Mr.

Edward Moses, Director, Office of Resident Initiatives, Department

of Housing and Urban Development, 451 Seventh Street SW, Room 4116,

Washington, DC 20410, (202) 619-8201 (This is not a toll-free

number).

58. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: Philadelphia, Pennsylvania Housing Authority,

Turnkey III Homeownership Opportunity Programs Project(s) Whitman Park

(PA 2-51) and Brown St. Village (PA 2-96).

Nature of Requirement: 24 CFR 904 subpart B and the Turnkey III

Handbook require that upon sale of a homeownership unit that the monies

received be remitted to HUD to reduce the capital indebtedness on the

project. Excess Residual Receipts and or Operating Reserves are also to

be remitted to HUD.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing, PD.

Date Granted: June 4, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272

(April 7, 1986), which amends section 4 of the United States Housing

Act of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

59. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: The Butler Metropolitan Housing Authority,

Hamilton, Ohio, Turnkey III Homeownership Opportunity Programs Projects

OH 15-06 and OH 15-11.

Nature of Requirement: 24 CFR part 904 subpart B and the Turnkey

III Handbook require that upon sale of a homeownership unit that the

monies received be remitted to HUD to reduce the capital indebtedness

on the project. Excess Residual Receipts and or Operating Reserves are

also to be remitted to HUD.

Granted By: Joseph Shuldiner, Assistant Secretary for Public and

Indian Housing, P.

Date Granted: June 11, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272

(April 7, 1986), which amends section 4 of the United States Housing

Act of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

60. Regulation: 24 CFR 904 subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: The Nashua, New Hampshire Housing Authority,

Turnkey III Homeownership Opportunity Programs Project NH 36-P002-008.

Nature of Requirement: 24 CFR 904 subpart B and the Turnkey III

Handbook require that upon sale of a homeownership unit that the monies

received be remitted to HUD to reduce the capital indebtedness on the

project. Excess Residual Receipts and or Operating Reserves are also to

be remitted to HUD.

Granted By: Joseph Shuldiner, Assistant Secretary for Public and

Indian Housing, P.

Date Granted: June 16, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272

(April 7, 1986), which amends section 4 of the United States Housing

Act of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

61. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: Charlotte, North Carolina Housing Authority,

Turnkey III Homeownership Opportunity Programs Projects NC 3-13, NC 3-

14 and NC 3-15.

Nature of Requirement: 24 CFR 904 Subpart B and the Turnkey III

Handbook require that upon sale of a homeownership unit that the monies

received be remitted to HUD to reduce the capital indebtedness on the

project. Excess Residual Receipts and or Operating Reserves are also to

be remitted to a HUD.

Granted By: Joseph Shuldiner, Assistant Secretary for Public and

Indian Housing, P.

Date Granted: June 17, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985 (the Amendments), Public Law 99-272

(April 7, 1986) which amends section 4 of the United States Housing Act

of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

62. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: Jefferson County, Kentucky Housing Authority,

Turnkey III Homeownership Opportunity Programs Project KY 36-105-002.

Nature of Requirement: 24 CFR Part 904 Subpart B and the Turnkey

III Handbook require that upon sale of a homeownership unit that the

monies received be remitted to HUD to reduce the capital indebtedness

on the project. Excess Residual Receipts and or Operating Reserves are

also to be remitted to a HUD.

Granted By: Joseph Shuldiner, Assistant Secretary for Public and

Indian Housing, P.

Date Granted: June 25, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985, (the Amendments) Public Law 99-272

(April 7, 1986) which amends section 4 of the United States Housing Act

of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

63. Regulation: 24 CFR 904 Subpart B (Turnkey III Homeownership

Opportunity Program) and Corresponding Provisions of the Turnkey III

Handbook (7495.3).

Project/Activity: Knoxville, Tennessee Community Development

Corporation, Turnkey III Homeownership Opportunity Programs Projects

TN37P003015 and TN37P003016.

Nature of Requirement: 24 CFR Part 904 Subpart B and the Turnkey

III Handbook require that upon sale of a homeownership unit that the

monies received be remitted to HUD to reduce the capital indebtedness

on the project. Excess Residual Receipts and or Operating Reserves are

also to be remitted to HUD.

Granted By: Joseph Shuldiner, Assistant Secretary for Public and

Indian Housing, P.

Date Granted: August 13, 1993.

Reason Waived: Project debt forgiveness was authorized by the

provisions of section 3004 of the Housing and Community Development

Reconciliation Amendments of 1985, (the Amendments) Public Law 99-272

(April 7, 1986) which amends section 4 of the United States Housing Act

of 1937. The Amendments authorized the Secretary of HUD to forgive

outstanding principal and interest on loans made by the Secretary to

Public Housing Agencies (PHAs)/Indian Housing Authorities (IHAs) and to

cancel the terms of any contract with respect to repayment.

Turnkey III debt forgiveness, as authorized above, is implemented

according to existing HUD procedures.

The housing authority has shown good cause and demonstrated

compliance with all applicable regulatory requirements for debt

forgiveness.

Note to Reader: The person to be contacted for additional

information about waiver-grant item numbers in this listing is: Mr.

Dom Nessi, Director, Office of Indian Housing, Department of Housing

and Urban Development, 451 Seventh Street, SW, Washington, DC 20410,

Phone: (202) 708-1015, TDD: (202) 708-0850 (These are not toll-free

numbers).

64. Regulation: 24 CFR 905.325.

Project/Activity: Establishment of ceiling rents for Lac Vieux

Desert Chippewa Housing Authority.

Nature of the Requirement: Waiver of the Regulation cited above is

required to allow establishment of ceiling rents for their Rental

Program.

Granted By: Michael B. Janis, General Deputy Assistant Secretary,

PD.

Date Granted: March 2, 1993.

Reason Waived: This waiver was requested and granted to allow the

Lac Vieux Desert Chippewa Housing Authority to establish ceiling rents

for their rental program in accordance with PIH Notice 89-21, which

provides for the establishment of ceiling rents in a rental Indian

housing program.

65. Regulation: 24 CFR 905.325.

Project/Activity: Establishment of ceiling rents for Bad River

Housing Authority.

Nature of the Requirement: Waiver of the Regulation cited above is

required to allow establishment of ceiling rents for their Rental

Program.

Granted By: Michael B. Janis, General Deputy Assistant Secretary,

PD.

Date Granted: March 26, 1993.

Reason Waived: This waiver was requested and granted to allow the

Bad River Housing Authority to establish ceiling rents for their rental

program in accordance with PIH Notice 89-21, which provides for the

establishment of ceiling rents in a rental Indian housing program.

66. Regulation: 24 CFR 905.325.

Project/Activity: Establishment of ceiling rents for Fort Berthold

Housing Authority.

Nature of the Requirement: Waiver of the Regulation cited above is

required to allow establishment of ceiling rents for their Rental

Program.

Granted By: Michael B. Janis, General Deputy Assistant Secretary,

PD.

Date Granted: April 8, 1993.

Reason Waived: This waiver was requested and granted to allow the

Fort Berthold Housing Authority to establish ceiling rents for their

rental program in accordance with PIH Notice 89-21, which provides for

the establishment of ceiling rents in a rental Indian housing program.

67. Regulation: 24 CFR 905.730 (c)(F)(3).

Project/Activity: Extension of the deadline date to Submit Request

for Recalculation of Allowable Expense Level.

Nature of the Requirement: Waiver of the Regulation cited above is

required to allow recalculation of the Allowable Expense Level.

Granted By: Joseph Shuldiner, Assistant Secretary, P.

Date Granted: September 27, 1993.

Reason Waived: This waiver was requested and granted to allow the

Red Cliff Chippewa Housing Authority an extension of the deadline to

submit a request for an adjustment of their Allowable Expense Level.

68. Regulation: 24 CFR 905.730(c)(F)(3)

Project/Activity: Extension of the deadline date to Submit Request

for Recalculation of Allowable Expense Level.

Nature of the Requirement: Waiver of the Regulation cited above is

required to allow recalculation of the Allowable Expense Level.

Granted By: Joseph Shuldiner, Assistant Secretary, P.

Date Granted: September 28, 1993.

Reason Waived: This waiver was requested and granted to allow the

Lac Courte Oreilles Indian Housing Authority an extension of the

deadline to submit a request for an adjustment of their Allowable

Expense Level.

Note to Reader: The person to be contacted for additional

information about the waiver-grant items numbered in this listing

is: Janice D. Rattley, Director, Office of Construction,

Rehabilitation and Maintenance, Office of Public and Indian Housing,

Department of Housing and Urban Development, 451 Seventh Street,

SW., Washington, DC 20410, Phone: (202) 708-1800. (These are not

toll-free numbers.)

69. Regulation: 24 CFR 941.102(b).

Project/Activity: Public Housing Development, Project Number MO 37-

6, West Plains Housing Authority (WPHA).

Nature of Requirement: Requires a turnkey developer to submit a

proposal for a specified number of units on a site or property owned or

to be purchased by the developer.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing.

Date Granted: May 28, 1993.

Reason Waived: To allow the WPHA to permit the developer to change

one of the original sites to a new site and enlarge one site to

accommodate a second unit.

70. Regulation: 24 CFR 965.805(a).

Project/Activity: Installation of Smoke Detectors in Public Housing

Units.

Nature of Requirement: Public housing agencies are required to have

either a hard-wired or battery-powered smoke detector installed on each

level of all public housing units by October 30, 1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing.

Date Granted: December 24, 1992.

Reason Waived: In Atlanta, Georgia local law prohibits the use of

battery-operated smoke detectors and the Atlanta Housing Authority

(AHA) will have to contract for the installation of over 8,000 hard-

wired smoke detectors. The regulations were waived to extend the

October 30, 1992, deadline for installing smoke detectors on each level

of every unit to October 31, 1993, to allow additional time for the AHA

to install hard-wired smoke detectors required by local law.

71. Regulation: 24 CFR 968.240(c).

Project/Activity: Public Housing Modernization--Contracting for

Lead-Based Paint (LBP) Testing.

Nature of Requirement: The regulation at 24 CFR 968.240(c),

requires PHAs to use the sealed bid method for contracts in excess of

$25,000 in accordance with 24 CFR 85.36(d)(2) for LBP Testing.

Granted By: Michael B. Janis, General Deputy Assistant Secretary

for Public and Indian Housing.

Date Granted: January 19, 1993.

Reason Waived: Housing and Urban Development (HUD), LBP Guidelines

recommend use of competitive proposals. However, HUD CIAP Regulations

only permit sealed bid methods. New York City Housing Authority

prepared solicitations based on competitive proposals and the HUD

office inadvertently approved. New York City's request for waiver was

granted because of HUD's error and administrative inconvenience of

revising solicitation documents within required time frames.

Note to Reader: The person to be contacted for additional

information about the waiver-grant items in this listing is: John

Comerford, Director, Financial Management Division, Office of Public

and Indian Housing, Department of Housing and Urban Development, 451

Seventh Street, SW., Washington, DC 20410, Phone: (202) 708-1872,

TDD: (202) 708-0850 (These are not toll-free numbers)

72. Regulation: 24 CFR 990.104.

Project/Activity: Yoakum Housing Authority, TX. In determining the

operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 7, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

73. Regulation: 24 CFR 990.104.

Project/Activity: Taft Housing Authority, TX. In determining the

operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 7, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

74. Regulation: 24 CFR 990.104.

Project/Activity: Schulenburg Housing Authority, TX. In determining

the operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 7, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

75. Regulation: 24 CFR 990.104.

Project/Activity: Ingleside Housing Authority, TX. In determining

the operating subsidy eligibility, a request was made to implement the

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 7, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

76. Regulation: 24 CFR 990.104.

Project/Activity: Northwest Florida Regional Housing Authority. In

determining the operating subsidy eligibility, a request was made to

implement the adjustment to the Allowable Expense Level one year early,

to be effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 7, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

77. Regulation: 24 CFR 990.104.

Project/Activity: Hartwell Housing Authority, GA. In determining

the operating subsidy eligibility, a request was made for funding for

one unit approved for non-dwelling use to promote an anti-drug program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: May 27, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

78. Regulation: 24 CFR 990.104.

Project/Activity: Fitchburg Housing Authority, MA. In determining

the operating subsidy eligibility, a request was made to implement the

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 8, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

79. Regulation: 24 CFR 990.104.

Project/Activity: Newton Housing Authority, MA. In determining the

operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 8, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

80. Regulation: 24 CFR 990.104.

Project/Activity: Webster Housing Authority, MA. In determining the

operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 8, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

81. Regulation: 24 CFR 990.104.

Project/Activity: Weymouth Housing Authority, MA. In determining

the operating subsidy eligibility, a request was made to implement an

adjustment to the Allowable Expense Level one year early, to be

effective for the fiscal year beginning January 1, 1992.

Nature of Requirement: The delay in publication of the Final Rule

for PFS Allowable Expense Level appeals has resulted in a rule that is

effective for Housing Authority (HA) fiscal years beginning April 1,

1992.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 8, 1993.

Reason Waived: This waiver was granted in order to allow equal

treatment of all HAs in Federal Fiscal Year 1992, by allowing an

adjustment for HAs with Fiscal Years beginning January 1, 1992.

82. Regulation: 24 CFR 990.104.

Project/Activity: Lometa Housing Commission, TX. In determining the

operating subsidy eligibility, a request was made to extend the

deadline for submission of a request for an adjustment to the Allowable

Expense Level.

Nature of Requirement: The Final Rule for PFS Allowable Expense

Level appeals imposed a sixty day deadline on submission of requests

for adjustment.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 11, 1993.

Reason Waived: The Housing Agency has had three executive directors

during the past year. The fee accountant had prepared a timely request

for an adjustment, but the Housing Agency failed to submit it to the

Department.

83. Regulation: 24 CFR 990.104.

Project/Activity: Charleston Housing Authority, WV. In determining

the operating subsidy eligibility, a request was made for funding for

eight units approved for non-dwelling use to promote an anti-drug

program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 11, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

84. Regulation: 24 CFR 990.104.

Project/Activity: Danville Housing Authority, KY. In determining

the operating subsidy eligibility, a request was made for funding for

one unit approved for non-dwelling use to promote an anti-drug program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 16, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

85. Regulation: 24 CFR 990.104.

Project/Activity: Tampa Housing Authority, FL. In determining the

operating subsidy eligibility, a request was made for funding for

eleven units approved for non-dwelling use to promote an economic self-

sufficiency program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 16, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

86. Regulation: 24 CFR 990.104.

Project/Activity: North Charleston Housing Authority, SC. In

determining the operating subsidy eligibility, a request was made for

funding for six units approved for non-dwelling use to promote an

economic self-sufficiency (headstart) program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 16, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

87. Regulation: 24 CFR 990.104.

Project/Activity: Mower County Housing and Redevelopment Authority,

MN. In determining the operating subsidy eligibility, a request was

made to extend the deadline for submission of a request for adjustment

to the Allowable Expense Level.

Nature of Requirement: The Final Rule for PFS Allowable Expense

Level appeals imposed a sixty day deadline on submission of requests

for adjustment.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: June 17, 1993.

Reason Waived: The Housing Agency had misunderstood the deadline.

This waiver was granted based on the Housing Agency's eligibility for

an adjustment and its low reserve level.

88. Regulation: 24 CFR 990.104.

Project/Activity: Anderson Housing Authority, SC. In determining

the operating subsidy eligibility, a request was made for funding for

one unit approved for non-dwelling use to promote an anti-drug program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: July 15, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

89. Regulation: 24 CFR 990.104.

Project/Activity: Cookeville Housing Authority, TN. In determining

the operating subsidy eligibility, a request was made for funding for

one unit approved for non-dwelling use to promote an economic self-

sufficiency and anti-drug program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 6, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

90. Regulation: 24 CFR 990.104.

Project/Activity: Key West Housing Authority, FL. In determining

the operating subsidy eligibility, a request was made for funding for

five units approved for non-dwelling use to promote an anti-drug

program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 20, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

91. Regulation: 24 CFR 990.104.

Project/Activity: Savannah Housing Authority, GA. In determining

the operating subsidy eligibility, a request was made for funding for

five units approved for non-dwelling use to promote an anti-drug

program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: September 8, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

92. Regulation: 24 CFR 990.104.

Project/Activity: Tennessee Valley Regional Housing Authority, MS.

In determining the operating subsidy eligibility, a request was made

for funding for ten units approved for non-dwelling use to promote an

economic self-sufficiency program (youth sports, training, adult

education, etc.).

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: September 9, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

93. Regulation: 24 CFR 990.104.

Project/Activity: Phenix City Housing Authority, AL. In determining

the operating subsidy eligibility, a request was made for funding for

one unit approved for non-dwelling use to promote an economic self-

sufficiency and anti-drug program.

Nature of Requirement: The operating subsidy calculation excludes

funding for units removed from the dwelling rental inventory.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: September 9, 1993.

Reason Waived: To allow additional subsidy for units approved for

non-dwelling use to promote economic self-sufficiency services and

anti-drug programs pending publication of a final rule implementing

this change to the regulation.

94. Regulation: 24 CFR 990.110(c)

Project/Activity: Chicago Housing Authority, IL. In determining the

operating subsidy eligibility a request was made to permit the Housing

Agency (HA) to retain 50% of savings realized through the wellhead

purchase of natural gas for the period October 1, 1990, through

December 31, 1991.

Nature of Requirement: Section 114(c) of the Housing and Community

Development Act of 1992 extends, from one year to six years, the period

during which a HA can retain a portion of the savings resulting from

the HA's action to secure a reduction in utility rates.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: February 4, 1993.

Reason Waived: This waiver was granted in order to comply with

Congressional intent pending publication of a final rule implementing

this change. Based on the provisions of the Act, the authorization was

granted to permit the HA to retain 50% of annual savings realized from

the wellhead purchase of natural gas for the full time allowed by the

Act.

95. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: In determining the operating subsidy eligibility

for the Gilbert, MN Housing and Redevelopment Authority, a request was

made for an extension of a previous waiver to permit the Housing Agency

(HA) to use its actual occupancy rate of 88% as its projected occupancy

percentage.

Nature of Requirement: The regulation requires a Low Occupancy HA

without an approved Comprehensive Occupancy Plan (COP) to use a

projected occupancy percentage of 97%.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 19, 1993.

Reasons Waived: The HA is a small agency with 49 units of elderly

housing. It has been hampered in its efforts to reduce vacancies by

local economic dislocations and loss of population. HA was allowed to

use a goal of 82% for its fiscal year ending in 1992. Since the time of

the last waiver, the HA has made progress in reducing its vacancies

from nine to six units. Further reductions may be expected if the HA's

application for CIAP funds are approved and some of the vacant units

are reconfigured into larger units and/or converted into nondwelling

use. Because of the progress made, the HA was permitted to use 88% as

its projected occupancy percentage for its fiscal year ending 6/30/93.

96. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: In determining the operating subsidy eligibility

for the Atlanta Housing Authority, TX, a request was made to use 94% as

the projected occupancy percentage instead of 97%.

Nature of Requirement: The regulation requires a Housing Agency

(HA) which does not reach an occupancy percentage of 97% at the end of

its Comprehensive Occupancy Plan (COP) to use a projected occupancy

percentage of 97%.

Granted By: Michael B. Janis, General Deputy Assistant Secretary.

Date Granted: April 28, 1993.

Reasons Waived: The goal of the COP was to achieve a vacancy level

of five or fewer vacant units, which for this 80 unit HA corresponded

to a 94% level. The HA and Ft. Worth Office did not realize until

recently that the Department had recognized that the use of 97% in this

type of situation created an inequity. Failure to achieve an acceptable

goal of 94% should not result in the imposition of an even higher

occupancy level of 97% on the HA. A waiver was granted to allow the use

of 94% as the projected occupancy percentage in order to correct this

inequitable situation.

97. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: A request was made by the Newark, NJ Housing

Authority to have the Department approve a 12-year Comprehensive

Occupancy Plan (COP).

Nature of Requirement: Current regulations require a Low Occupancy

PHA to submit a COP when first eligible in order to use an occupancy

percentage of less than 97% in the determination of operating subsidy

eligibility. A Low Occupancy PHA without an approved COP must use a

projected occupancy percentage of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: July 22, 1993.

Reasons Waived: The Newark Housing Authority (NHA) did not submit

an approvable COP when it was first eligible to do so for its fiscal

year beginning 4/1/87. Instead, with the Department's approval, NHA has

used a series of Memorandums of Agreement (MOAs) that included an

occupancy goal to be used in determining its operating subsidy

eligibility. In March 1993, the NHA requested approval of a 12-year

COP.

Based on experience gained from Public Housing Agencies (PHAs)

implementing the vacancy rule, the Department found that large PHAs

designated as ``troubled authorities'', such as NHA, had vacancy

problems of such a magnitude and complexity that long-term planning was

very difficult. Plans that were approved for such PHAs quickly became

obsolete and much time and effort were spent justifying changes to

occupancy goals.

Since the Department continues to believe that it is very difficult

for large troubled PHAs to adhere to a long term plan with fixed

occupancy goals, the request for a waiver that would result in the

approval of a 12-year COP was not approved. Instead, good cause was

found to waive the subject regulation and allow the NHA to use an

occupancy goal of 72% for its 1993 fiscal year and 78% for its 1994

fiscal year. Conditions were also placed on how the additional

operating subsidy generated as a result of the waiver could be used.

98. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: A request was made by the Clarkson, NE Housing

Authority to use its actual occupancy rate of 60% in determining its

operating subsidy eligibility for its fiscal year ending (FYE) 3/31/93

and to use a projected occupancy rate of 60% for its FYE 3/31/94.

Nature of Requirement: A public housing agency (PHA) that has

completed a Comprehensive Occupancy Plan (COP) without achieving a 97%

occupancy percentage or having an average of five or fewer vacant units

must use a projected occupancy rate of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 5, 1993.

Reason Waived: The Clarkson Housing Authority is a small PHA of 30

units, primarily elderly. There has been a significant decline in the

town's population according to census data, as well as loss of

businesses and medical staff during the past two years. Because the

documented lack of demand was basically beyond the control of the

Authority, the PHA was allowed to use 60% for both the requested years.

99. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: A request was made by the Jetmore, KS Housing

Authority to have a three-year Comprehensive Occupancy Plan (COP)

approved for its fiscal year (FYs) 1993-1995. The Authority had

completed a COP in its 1992 FY without achieving the goal of having

five or fewer vacant units.

Nature of Requirement: A public housing agency (PHA) that has

completed a Comprehensive Occupancy Plan (COP) without achieving a 97%

occupancy percentage or having an average of five or fewer vacant units

must use a projected occupancy rate of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 5, 1993.

Reason Waived: The Jetmore Housing Authority is a small PHA of 20

units, primarily elderly. The Authority had undertaken several steps to

increase demand for its units but met with only limited success.

Because the documented lack of demand was basically beyond the control

of the Authority, the PHA was allowed to use 75% for both its 1993 and

1994 FYs. The request for a new COP was not approved.

100. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: A request was made by the Red Cloud, NE Housing

Authority to use its actual occupancy rate of 69% in determining its

operating subsidy eligibility for its fiscal year ending (FYE) 6/30/93

and to use a projected occupancy rate of 69% for its FYE 3/31/94.

Nature of Requirement: A public housing agency (PHA) that has

completed a Comprehensive Occupancy Plan (COP) without achieving a 97%

occupancy percentage or having an average of five or fewer vacant units

must use a projected occupancy rate of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 5, 1993.

Reason Waived: The Red Cloud Housing Authority is a small PHA of 55

units, primarily elderly. In spite of outreach activities to inform the

community about the availability of housing assistance and the granting

of a waiver to admit income-eligible, non-elderly, the waiting list is

non-existent. Because the documented lack of demand was basically

beyond the control of the Authority, the PHA was allowed to use 69% for

both the requested years.

101. Regulation: 24 CFR 990.109(b)(3)(iv).

Project/Activity: A request was made by the Olney, TX Housing

Authority to use its actual occupancy rate of 68% in determining its

operating subsidy eligibility for its fiscal year ending P9/30/94.

Nature of Requirement: A public housing agency (PHA) that has

completed a Comprehensive Occupancy Plan (COP) without achieving a 97%

occupancy percentage or having an average of five or fewer vacant units

must use a projected occupancy rate of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: August 5, 1993.

Reason Waived: The Olney Housing Authority is a relatively small

PHA of 190 units. It is located in a rural town with a declining

population and poor economy. Extensive efforts to increase occupancy

through modernization of the units and outreach activities during the

past several years have not met with success. Because the documented

lack of demand was basically beyond the control of the Authority, the

PHA was allowed to use 68%.

102. Regulation: 24 CFR 990.109(b) (3) (iv).

Project/Activity: A request was made by the Chicago, IL Housing

Authority to use an occupancy rate of 85% in determining its operating

subsidy eligibility for both its fiscal year ending (FYE) 12/31/93 and

its FYE 12/31/94.

Nature of Requirement: A Low Occupancy Public Housing Agency (PHA)

without an approved Comprehensive Occupancy Plan (COP) must use a

projected occupancy rate of 97%.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: September 13, 1993.

Reason Waived: The Chicago Housing Authority argued that the

magnitude of its safety and security needs is so great, it requires the

Authority to redirect resources from other priority initiatives such as

vacancy reduction to fund safety and security measures. This

redirection of resources was expected to continue for at least the two

year period of the waiver request.

A five-year Memorandum of Agreement (MOA) has been executed earlier

between the Regional Office and the Authority which contained

performance targets in the area of vacancy reduction. In order not to

jeopardize the agreements that had been reached, a waiver was granted

for the Authority's 1993 fiscal year (FY). Conditions were also placed

on how the additional operating subsidy generated as a result of the

waiver could be used. These included having at least 60% of the

additional funds be used specific, identifiable actions to increase

occupancy which would leave 40% of the additional funds available for

security measures. A waiver for the Authority's FY 1994 will not be

considered until a review of actual accomplishments in FY 1993 can be

made and compared with the actual goals.

103. Regulation: 24 CFR 990.118(h).

Project/Activity: A request was made by the Albany, NY Housing

Authority to use an occupancy rate of 95% instead of the 97% goal of

its Comprehensive Occupancy Plan (COP) in determining its operating

subsidy eligibility for its fiscal year ending (FYE) 6/30/94.

Nature of Requirement: A Public Housing Agency (PHA) with an

approved COP must use the projected occupancy rates of the COP.

Granted By: Joseph Shuldiner, Assistant Secretary.

Date Granted: September 14, 1993.

Reason Waived: The Albany Housing Authority presented material to

show that modernization activity at one development was taking longer

than projected in the COP but that the work was considered to be on-

schedule by the Buffalo Office. Additional units at another development

were also being considered for possible deprogramming actions that had

not been contemplated in the COP.

The Department agreed with the Authority that there were

unanticipated vacancies because of the on-schedule modernization work

and found good cause to adjust the COP occupancy goal to 96%. The

request to make an adjustment for additional vacant units prior to the

completion of a feasibility study on deprogramming was not approved.

Office of Fair Housing and Equal Opportunity

Note To Reader: The person to be contacted for additional

information about the waiver grant items in this listing is: Mr.

Caldwell Jackson, Director, Management Planning Division, Office of

Fair Housing and Equal Opportunity, Department of Housing and Urban

Development, 451 Seventh Street, SW., Room 5108, Washington, DC

20410, (202) 708-3990 (This is not a toll-free number).

104. Regulation: 24 CFR parts 12 and 111.

Project/Activity: Accountability in Provision of HUD's Fair Housing

Assistance Program (FHAP).

Granted by: Henry G. Cisneros, Secretary.

Date Granted: June 2, 1993.

Reason Waived: A NOFA was not used to announce the availability of

funds under FHAP. A waiver was needed on this case because FHAP is

incorrectly listed in section 12.10 as a competitive program, and thus

subject to the requirement that a notice of funding availability must

be published in the Federal Register when funds are available under the

program. The Secretary also waived 24 CFR part 111 which requires a

NOFA to be published.

Note to Reader: The person to be contacted for additional

information about the waiver grant items in this listing is: Mr.

Anthony P. Devito, Field Coordination Officer, U.S. Department of

Housing and Urban Development Office of Community Planning and

Development, 451 7th Street, SW., Washington, DC 20410-7000,

Telephone: (202) 708-2565 (This is not a toll-free number).

105. Regulation: 24 CFR 91.70(a) and 91.82(b).

Project/Activity: City of Woonsocket, Rhode Island and City of New

Bedford, Massachusetts. Waiver of the submission deadlines of the FY

1993 Comprehensive Housing Affordability Strategy (CHAS) and the FY

1992 CHAS Annual Performance Report. City of East Providence, Rhode

Island. Waiver of the FY 1992 CHAS Annual Performance Report deadline.

Nature of Requirement: Subpart G. Section 91.70(a) of the CHAS

final rule provides that a housing strategy must be submitted annually

between October 1 and December 31, with December 31 being the deadline

for submission. Subpart H, Section 91.82(b) of the CHAS final rule

requires that Performance Reports for the fiscal year just ended be

submitted to HUD no later than December 31.

Granted By: Don I. Patch, Acting Deputy Assistant Secretary for

Grant Programs, CG.

Date Granted: March 4, 1993.

Reasons Waived: Waivers were granted for good cause. Each city

requested an extension to the date of submission for their CHAS Annual

Plan and/or Performance Report. Otherwise, they would lose FY 1993

funding for all programs that require an approved housing strategy as a

condition for funding. Undue hardship would result if HUD applied

authorized sanctions and suspended funding of existing programs in

these communities. Such action would deprive low and moderate income

persons of the benefits of HUD-funded programs. Woonsocket was granted

an 8 day extention for the CHAS and the Performance Report since the

Mayor was unavailable to sign the documents by the deadline. New

Bedford was granted an 8 day extension for the CHAS and a 67 day

extension for the Performance Report. East Providence was granted a 64

day extension for the Performance Report submission. Both cities report

the need for the waivers was due to their oversights or incomplete

understanding of the HUD requirements.

106. Regulation: 24 CFR 92.150(a).

Project/Activity: City of West Palm Beach, Florida. Waiver of the

deadline for submission of a HOME Program Description for FY 1993.

Nature of Requirement: Subpart D, Sec. 92.150(a) of the HOME

Interim Rule requires that each participating jurisdiction submit its

Program Description for a fiscal year to HUD within 45 days of HUD's

publication of the HOME formula allocations. For fiscal year 1993, the

due date for Program Descriptions was March

This text is long and has been trimmed here. Open the source document for the complete record.