OneRD Annual Notice of Guarantee Fee Rates, Periodic Retention Fee Rates, Loan Guarantee Percentage and Fee for Issuance of the Loan Note Guarantee Prior to Construction Completion for Fiscal Year 2022

Published date02 July 2021
Record Number2021-14193
SectionNotices
CourtRural Business-cooperative Service,Rural Housing Service,Rural Utilities Service
Federal Register, Volume 86 Issue 125 (Friday, July 2, 2021)
[Federal Register Volume 86, Number 125 (Friday, July 2, 2021)]
                [Notices]
                [Pages 35262-35263]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2021-14193]
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                DEPARTMENT OF AGRICULTURE
                Rural Business-Cooperative Service
                Rural Housing Service
                Rural Utilities Service
                [Docket No. RUS-21-Agency-0011]
                OneRD Annual Notice of Guarantee Fee Rates, Periodic Retention
                Fee Rates, Loan Guarantee Percentage and Fee for Issuance of the Loan
                Note Guarantee Prior to Construction Completion for Fiscal Year 2022
                AGENCY: Rural Business-Cooperative Service, Rural Housing Service and
                Rural Utilities Service, USDA.
                ACTION: Notice.
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                SUMMARY: The Rural Business-Cooperative Service (RBCS), Rural Housing
                Service (RHS), and the Rural Utilities Service (RUS), agencies of the
                Rural Development mission area within the U.S. Department of
                Agriculture (USDA), hereinafter collectively referred to as the Agency,
                offer loan guarantees through four programs: Community Facilities (CF)
                administered by RHS; Water and Waste Disposal (WWD) administered by the
                RUS; and Business and Industry (B&I) and Rural Energy for America
                Program (REAP) administered by the RBCS. This notice provides
                applicants with the Guarantee Fee rates, Guarantee percent for
                Guaranteed Loans, the Periodic Retention Fee, and Fee for Issuance of
                the Loan Note Guarantee Prior to Construction Completion for Fiscal
                Year (FY) 2022, to be used when applying for guaranteed loans under the
                aforementioned guaranteed loan types. This notice is being published
                prior to the passage of a FY 2022 appropriation. Should the fees need
                to be adjusted after passage of the FY 2022 appropriation bill, the
                agency will publish a subsequent notice in the Federal Register.
                DATES: The fees in this notice are applicable October 1, 2021.
                FOR FURTHER INFORMATION CONTACT: For information specific to this
                notice contact Michele Brooks, Director, Regulations Management, Rural
                Development Innovation Center--Regulations Management, USDA, 1400
                Independence Avenue SW, Washington, DC 20250-1522. Telephone: (202)
                690-1078. Email: [email protected]. For information regarding
                implementation, contact your respective Rural Development State Office
                listed here: http://www.rd.usda.gov/browse-state.
                SUPPLEMENTARY INFORMATION: As set forth in 7 CFR part 5001, the Agency
                is authorized to charge a guarantee fee, a periodic guarantee retention
                fee, a fee for the issuance of the loan note guarantee prior to
                construction completion, and establish a loan guarantee percentage for
                guaranteed loans made under this rule. Pursuant to this and other
                applicable authority, and subject to the current appropriated
                authority, the Agency is establishing the following for FY 2022:
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                 Fee for
                 issuance of
                 Periodic Loan loan note
                 Loan type Guarantee fee guarantee guarantee guarantee
                 (%) retention fee percentage (%) prior to
                 (%) construction
                 completion (%)
                ----------------------------------------------------------------------------------------------------------------
                B&I............................................. 3.0 0.5 80 0.5
                B&I Reduced Fee................................. 1.0 0.5 80 0.5
                B&I project in a high cost, isolated rural area 1.0 0.5 90 0.5
                 of the State of Alaska that is not connected to
                 a road system..................................
                CF.............................................. 1.25 0.5 80 0.5
                REAP............................................ 1.0 0.25 80 0.5
                WWD............................................. 1.0 N/A 80 0.5
                ----------------------------------------------------------------------------------------------------------------
                 The initial guarantee fee is paid at the time the loan note
                guarantee is issued. The periodic guarantee retention fee is paid by
                the lender to the Agency once a year. Payment of the periodic guarantee
                retention fee is required in order to maintain the enforceability of
                the guarantee. The fee for issuance of the loan note guarantee prior to
                construction completion DOES NOT apply to all construction loans. This
                additional fee only applies to loans requesting to receive a loan note
                guarantee prior to project completion. For loans where the Loan Note
                Guarantee is issued between October 1 and December 31, the first
                periodic retention fee payment is due January 31 of the second year
                following the date the Loan Note Guarantee was issued.
                 Unless precluded by a subsequent FY 2022 appropriation, these rates
                will apply to all guaranteed loans obligated in FY 2022. The amount of
                the periodic retention fee on each guaranteed loan will be determined
                by multiplying the periodic retention fee rate by the outstanding
                principal loan balance as of December 31, multiplied by the percentage
                of guarantee.
                Non-Discrimination Statement
                 In accordance with Federal civil rights law and U.S. Department of
                Agriculture (USDA) civil rights regulations and policies, the USDA, its
                agencies, offices, and employees, and institutions participating in or
                administering USDA Programs are prohibited from discriminating based on
                race, color, national origin, religion, sex, gender identity (including
                gender expression), sexual orientation, disability, age, marital
                status, family/parental status, income derived from a public assistance
                program, political beliefs, or reprisal or retaliation for prior civil
                rights activity, in any program or activity conducted or funded by USDA
                (not all bases apply to all programs). Remedies and complaint filing
                deadlines vary by program or incident.
                 Persons with disabilities who require alternative means of
                communication for program information (e.g., Braille, large print,
                audiotape, American Sign Language, etc.) should contact the responsible
                Agency or USDA's TARGET Center at (202) 720-2600 (voice and TTY) or
                contact USDA through the Federal Relay Service at (800) 877-8339.
                Additionally, program information may
                [[Page 35263]]
                be made available in languages other than English.
                 To file a program discrimination complaint, complete the USDA
                Program Discrimination Complaint Form, AD-3027, found online at https://www.usda.gov/oascr/how-to-file-a-program-discrimination-complaint and
                at any USDA office or write a letter addressed to USDA and provide in
                the letter all of the information requested in the form. To request a
                copy of the complaint form, call (866) 632-9992. Submit your completed
                form or letter to USDA by:
                 (1) Mail: U.S. Department of Agriculture, Office of the Assistant
                Secretary for Civil Rights, 1400 Independence Avenue SW, Washington, DC
                20250-9410; or
                 (2) email: [email protected].
                 USDA is an equal opportunity provider, employer, and lender.
                Justin Maxon,
                Deputy Undersecretary, Rural Development.
                [FR Doc. 2021-14193 Filed 7-1-21; 8:45 am]
                BILLING CODE 3410-15-P
                

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