82 FR 18767 - 30 Day Notice of Proposed Information Collection: Survey of Market Absorption of New Multifamily Units

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Federal Register Volume 82, Issue 76 (April 21, 2017)

The Department of Housing and Urban Development (HUD) is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act, HUD is requesting comment from all interested parties on the proposed collection of information. The purpose of this notice is to allow for 30 days of additional public comment.

[Federal Register Volume 82, Number 76 (Friday, April 21, 2017)]
[Notices]
[Pages 18767-18768]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-08121]


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

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5997-N-15]


30 Day Notice of Proposed Information Collection: Survey of 
Market Absorption of New Multifamily Units

AGENCY: Office of the Chief Information Officer, HUD.

ACTION: Notice.

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

SUMMARY: The Department of Housing and Urban Development (HUD) is 
seeking approval from the Office of Management and Budget (OMB) for the 
information collection described below. In accordance with the 
Paperwork Reduction Act, HUD is requesting comment from all interested 
parties on the proposed collection of information. The purpose of this 
notice is to allow for 30 days of additional public comment.

DATES: Comments Due Date: May 22, 2017.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name and/or OMB 
Control Number and should be sent to: HUD Desk Officer, Office of 
Management and Budget, New Executive Office Building, Washington, DC 
20503; fax: 202-395-5806. Email: [email protected].

FOR FURTHER INFORMATION CONTACT: Anna Guido, Reports Management 
Officer, QDAM, Department of Housing and Urban Development, 451 7th 
Street SW., Washington, DC 20410; email Anna Guido at 
[email protected] or telephone 202-402-5535. Persons with hearing or 
speech impairments may access this number through TTY by calling the 
toll-free Federal Relay Service at (800) 877-8339. This is not a toll-
free number. Copies of available documents submitted to OMB may be 
obtained from Ms. Guido.

SUPPLEMENTARY INFORMATION: HUD will submit the proposed information 
collection package to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended).

A. Overview of Information Collection

    Title of Information Collection: Survey of Market Absorption of New 
Multifamily Units.
    OMB Approval Number: 2528-0013.
    Type of Request: Extension of currently approved collection.
    Form Number: N/A.
    Description of the need for the information and proposed use: The 
Survey of Market Absorption (SOMA) provides the data necessary to 
measure the rate at which new rental apartments and new condominium 
apartments are absorbed; that is, taken off the market, usually by 
being rented or sold, over the course of the first twelve months 
following completion of a building. The data are collected at quarterly 
intervals until the twelve months conclude, or until the units in a 
building are completely absorbed. The survey also provides estimates of 
certain characteristics, including asking rent/price, number of units, 
and number of bedrooms. The survey provides a basis for analyzing the 
degree to which new apartment construction is meeting the present and 
future needs of the public.
    Members of affected public: Rental Agents/Builders.
    Estimated Number of Respondents: 12,000 yearly (maximum).
    Estimated Time per Response: 15 minutes/initial interview and 5 
minutes for any subsequent interviews (up to three additional, if 
necessary).
    Frequency of Response: Four times (maximum).
    Estimated Total Annual Burden Hours: 6,000.00 (12,000.00 buildings 
x 30 minutes).
    Estimated Total Annual Cost: The only cost to respondents is that 
of their time. The total estimated cost to HUD in FY 2017 is 
$1,120,000.
    Respondent's Obligation: Voluntary.
    Legal Authority: The survey is conducted under Title 12, United 
States Code, Section 1701Z.

--------------------------------------------------------------------------------------------------------------------------------------------------------
                                 Number of     Frequency of    Responses per                               Annual burden    Hourly cost
   Information collection       respondents      response          annum       Burden hour  per response       hours       per response     Annual cost
--------------------------------------------------------------------------------------------------------------------------------------------------------
SOMA........................          12,000               4          48,000  .125 (30 minutes' total           6,000.00          $35.74     $214,440.00
                                                                               divided by 4 interviews).
--------------------------------------------------------------------------------------------------------------------------------------------------------


[[Page 18768]]

B. Solicitation of Public Comment

    This notice solicits comments from members of the public and 
affected parties concerning the collection of information described in 
Section A on the following:
    (1) Whether the proposed collection of information is necessary for 
the proper performance of the functions of the agency, including 
whether the information will have practical utility;
    (2) The accuracy of the agency's estimate of the burden of the 
proposed collection of information;
    (3) Ways to enhance the quality, utility, and clarity of the 
information to be collected; and
    (4) Ways to minimize the burden of the collection of information on 
those who are to respond, including the use of appropriate automated 
collection techniques or other forms of information technology, e.g., 
permitting electronic submission of responses.
    HUD encourages interested parties to submit comment in response to 
these questions.

C. Authority

    Section 3507 of the Paperwork Reduction Act of 1995, 44 U.S.C. 
Chapter 35.

    Date: March 21, 2017.
Anna P. Guido,
Department reports Management Officer, Office of the Chief Information 
Officer.
[FR Doc. 2017-08121 Filed 4-20-17; 8:45 am]
 BILLING CODE 4210-67-P