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Federal Register / Vol. 86, No. 20 / Tuesday, February 2, 2021 / Notices
As stated earlier in this Notice, the housing must be managed in accordance with the programs management regulations, 7 CFR part 3560.
viii Description of established site control.
ix Proposed Return to Owner RTO, if applicable.
x Any financial commitments, financial concessions, or other economic benefits proposed to be provided by RHS.
xi Third-party funding, if applicable.
For each third-party funding source or leveraged funds, discuss briefly the funding provider, funding amount, including terms, commitment status, timing issues, any restrictions that will be applicable to the project, and whether any accommodation from RHS
is proposed, such as a subordination in lien position. The desired lien position of any third-party funding source must be clearly disclosed as well as any proposal for RHS to subordinate its lien position.
xii Any proposed compensation to parties having an identity of interest with either the seller, purchaser, consultant, or Technical Assistance TA provider, etc.
xii Any proposed construction financing, for example, a construction or bridge loan or the use of multiple advances.
xiv Type and method of construction such as owner builder, negotiated bid, or contractor method.
xv If a FLH grant is desired, a statement concerning the need for a FLH
grant. The statement must include estimates of the rents required with a grant and rents required without a grant.
Documentation to demonstrate how the rent figures were computed must be provided. Documentation must be in the form of a completed Form RD 35607
Multiple Family Housing Project Budget/Utility Allowance completed as if a grant were received and another form completed as if a grant would not be received. RHS will review each budget to determine that the income and expenses are reasonable and customary for the area. RHS will then verify that the proposed rental rates provided on the budget that considers rents without a grant, are at or above market rate rents or at a level that would overburden the intended residents based on the average income of eligible FLH workers in the primary market area as provided in the market study.
xvi If RA or OA is desired, a statement concerning the need for the RA or OA and a statement concerning the specific number of units of RA or OA that is needed. Strong and detailed
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justification must be provided for requests of 100 percent RA or OA.
xvii Statement by the applicant that they will pay any cost overruns.
xviii Estimated development timeline to include estimated start and end date as well as any other important milestones.
xix Description of any required site development such as building roads, obtaining easements, installing utilities, verification that there is proper site access, and any state or local approvals such as zoning.
xx Description of the required and intended applicant contribution.
xxi Any other pertinent information that the applicant feels should be disclosed as part of this proposal, if applicable.
2 Standard Form 424 Application for Federal Assistance which can be obtained at: https www.grants.gov/.
3 Current within six months of this Notices pre-application submission due date of the applicable funding round financial statements for each entity within the ownership structure with the following paragraph certified by the applicants designated and legally authorized signer:
I/we certify the above is a true and accurate reflection of our financial condition as of the date stated herein.
This statement is given for the purpose of inducing the United States of America to make a loan or to enable the United States of America to make a determination of continued eligibility of the applicant for a loan as requested in the loan application of which this statement is a part.
4 A check for $24 made out to the United States Department of Agriculture. This will be used to pay for credit reports obtained by RHS. The check must be mailed to the following address and received prior to the application deadline for the applicable funding round. If the check is not received by the application deadline for the applicable funding round, the application will be considered incomplete and will not be considered for funding.
Tonya Boykin, Management Assistant, United States Departments of Agriculture, 1400 Independence Avenue SW, Room 1263S, STOP
0782, Washington, DC 20250
5 Evidence that the applicant is unable to obtain credit from other sources. At least two letters from two separate credit institutions which normally provide real estate loans in the area must be obtained and these letters must indicate the rates and terms upon which a loan might be provided. RHS

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will review each letter to verify that the applicant is only able to obtain market rate financing, which would include a market rate interest rate and term of less than 30 years.
6 Letter from the IRS indicating the applicants tax identification number.
7 Documentation verifying the applicants DUNS number, if applicable.
8 Proposed limited partnership agreement and certificates of limited partners, if applicable. Agency requirements should be contained in one section of the agreement and their location identified by the applicant or their attorney in a cover sheet.
9 If a non-profit organization:
i Tax-exempt ruling from the IRS
designating them as a 501c3 or 501c4 organization. If the designation is pending, a copy of the designation request must be submitted.
ii Purpose statement, including the provision of low-income housing.
iii Evidence of organization under Tribal, state and local law, or copies of pending applications and a copy of the applicants charter, Articles of Incorporation, and by-laws.
iv List of Board of Directors including their names, occupations, phone numbers, and addresses.
v If a member or subsidiary of another organization, the organizations name, address, and nature of business.
10 Market feasibility documentation to identify the supply and demand for Off-FLH in the primary market area. A
market study must be submitted. The market area must be clearly identified and may include only the area from which tenants can reasonably be drawn for the proposed project. Documentation must be provided to justify a need within the intended primary market area for the housing of domestic farm laborers. The documentation must also consider disabled and retired farm workers and adjusted medium incomes of very-low, low, and moderate. The market study must include all of the content in Exhibit 410 and Exhibit 4
11. These exhibits are located in HB1
3560, Chapter 4, Section 4.18. The market study must also include documentation of all the elements in Attachment 4F, located in HB13560, Chapter 4. The provider must include a copy of Attachment 4F within the report and provide the page number of the report where it contains the information that satisfies each element of Attachment 4F. The market study must be obtained from, and performed by, an independent third-party provider that has no identity of interest with the property owner, management agent, applicant or any other principle or
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