notify HUD whenever your Sound Capital Resources fall below the level required by Section 255.102(b)(2); and request and receive approval from HUD before implementing any voluntary transfer of assets which would cause your Sound Capital Resources to fall below the required level. Please indicate your acceptance of these conditions within 10 days by signing in the space provided below and returning this letter via certified mail. Accepted by DRG Funding Corporation Very sincerely yours, Deliorach dela Deborah Gore Dean Executive Assistant to James C. Latta, Jr. Executive Vice President Date In conformity with our policy of monitoring and review of coinsurance processing, particularly in areas where many occupancy rates are below those desired, we request that DRG forward us, for review, a copy of the processing in the following Section 223(f) coinsurance cases: Project No. 112-10511 Georgetown Apartments Project No. 133-10503 Woodscape Apartments Project No. 133-10507 Foxfire Apartments Your cooperation in this matter will be appreciated. Please send these files for post endorsement review to my Office within 15 days from the date of this letter. Sincerely yours, Thomas T. Demery Assistant Secretary DO NOT WRITE ON THIS COVER AS IT IS INTENDED FOR RE-USE EXECUTIVE CORRESPONDENCE WASHINGTON, D.C. 20410-8000 OFFICE OF THE ASSISTANT SECRETARY FOR MEMORANDUM FOR: Sam R. Moseley, Regional Administrator Regional This is in response to the memorandum of January 26, 1987 concerning subject coinsurance processing. I am requesting the coinsurer to submit processing on these cases to us for our review. Thank you for bringing these cases to our attention. DO NOT WRITE ON THIS COVER AS IT IS INTENDED FOR RE-USE MEMORANDUM FOR: Thomas T. Demery, Assistant Secretary for Housing- FROM: Walter G. Sevier, Deputy Regional Administrator SUBJECT: Section 223(f) Multifamily Coinsurance Projects Attached are memoranda concerning the appraisal and underwriting of three 223 (f) coinsurance projects by DRG Funding Corporation - Georgetown Apartments, Dallas, Texas; Woodscape Apartments, Lubbock, Texas; and Foxfire Apartments, Amarillo, Texas. As the attached memoranda indicate, the value estimate by DRG for Georgetown Apartments is $15,500,000, woodscape Apartments $2,460,930, and Foxfire Apartments $3,235,252. More realistic values are 'Georgetown Apartments $10,700,000, Woodscape Apartments $1,854,263, and Foxfire Apartments $2,713,366. Attachments U.S. Department of Housing and Urban Development Fort Worth Regional Office, Region VI 1600 Throckmorton Fort Worth, Texas 76113-2905 October 30, 1986 ME DRANDUM FOR: THE FILE FROM: Walter G. Sevier, Deputy Regional Adıţinistrator, 6SD SUBJECT: Georgetown II Apartments, Dallas, Texas .. After reviewing Bob Creech's memorandum of October 2, 1986, subject as above, and the appraisal used in the coinsurance processing, it appears that the following is a more realistic estimate of value: |