135,642 -981 134,661 143,700 36,850 65 397 390 5,426 9,177 6,794 ---397 -390 -9,177 -6,794 130,578 146,090 -390 Expenditures... Selected resources as of June 30 are as follows: Unpaid undelivered orders. 1963, $5.491 thousand (1963 adjustment. - $981 thousand): 1964, $9,574 thousand: 1965, $7,184 thousand; 1966, $2,184 thousand. 10,000 143,700 36,850 -1,794 41,850 Rural housing direct loans are authorized by title V of the Housing Act of 1949, as amended, to be made to farm and non-farmowners of real estate in rural areas, to longterm farm leaseholders, and to senior citizens who are or will be owners of land in rural areas. Loans are made only to persons unable to obtain housing credit from other sources upon reasonable terms and conditions. Direct loans to individuals are repayable in not more than 33 years and bear interest at 4%. Grants are made for minor building repair. In addition to the direct loans and grants, insured loans are made to provide housing for domestic farm labor, and to provide rental housing for senior citizens in rural areas. 1. Rural housing grants and loans.-Direct farm enlargement and development loans, along with building loans, are made to farmowners on potentially adequate farms who need to develop their farms so as to increase their income sufficiently to repay the loans. Grants are made to farmowners, to owners of other real estate and long-term farm leaseholders in rural areas for such items as repairing roofs, providing sanitary facilities, providing an adequate sanitary water supply, and supplying screens. In some cases, a combination building loan and grant is made. A building loan or grant or a combination loan and grant may not exceed $1 thousand. [Dollars in thousands] 500 141,250 26,450 1,950 10,400 36,850 1965 estimate 1966 estimate furnished by private investors. Annual payments of principal and interest to lenders are fully guaranteed. The Government retains at least one-half of 1% of the interest as an insurance premium. A. Farm labor housing loans.-Insured farm labor housing loans are made to farmowners or to organizations to provide modest living and related facilities for domestic farm labor. These loans are repayable in not more than 33 years and bear interest not in excess of 5%. The law provides that lenders can receive up to 4%% of the 5% interest paid by the borrower. The maximum return to lenders is currently established at 4%%. B. Rental housing loans for senior citizens.-Insured loans to provide moderate-cost rental housing and related facilities for senior citizens are made to individuals, corporations, associations, trusts or partnerships. These loans are repayable in the number of years best suited to the individual case with interest at 54% to the borrower. The Government retains at least one-half of 1% of the interest as an insurance premium. No loan may exceed $300 thousand. 5,000 Authority for funding rural housing grants and loan activities will expire on September 30, 1965, but extension will be proposed. Identification code 05-60-2004-0-1-352 124,426 6,052 9 4,805 469 698 884 1965 estimate Number 50,000 14,400 2,100 55 2,350 55 55 30 Financing: 40 New obligational authority (appropriation) Amount Relation of obligations to expenditures: 71 Total obligations (affecting expenditures).. 90 Expenditures.. 126,000 15,000 250 1,950 9,000 5,000 6,000 1966 estimate 1964 actual Number 50,000 Program and Financing (in thousands of dollars)--Continued 900 2,500 300 13,000 33 30 155 50 1965 estimate Amount 5,000 20,000 1,450 10,400 5,000 5,000 15,000 10,000 1966 estimate 5,000 5,000 5,000 This program was authorized by section 102 of the Food and Agriculture Act of 1962. Loans are made to local public agencies or groups for rural renewal development projects which are specifically related to conservation and land utilization. Each project will be an important component of the overall rural renewal plan previously developed to rebuild the economy of the designated area. To be eligible for designation as a rural renewal area, the locality must be one of chronic underemployment on farms and unemployment in the surrounding communities. The area must also be one in which agriculture or forestry contribute substantially to the economy. The 1966 request is to provide for continuation of program operation in five pilot project areas. Program operations include selection and designation of rural renewal areas, technical assistance to local public bodies or officials, or organizations in the preparation of an economic development plan, and counsel to local agencies and groups for meeting legal requirements necessary for borrowing funds. The borrowing agency is designated by the State legislature or Governor to receive rural renewal loan funds and is vested with authority under State and local laws to borrow funds, buy and sell property, raise revenue, meet financial obligations and transact other necessary business functions. SALARIES AND EXPENSES For necessary expenses of the Farmers Home Administration, not otherwise provided for, in administering the programs authorized by the Consolidated Farmers Home Administration Act of 1961 (7 U.S.C. 1921), as amended, title V of the Housing Act of 1949, as amended (42 U.S.C. 1471-1484), and the Rural Rehabilitation Corporation Trust Liquidation Act, approved May 3, 1950 (40 U.S.C. 440-444); [$39,544,000] $44,692,000, together with not more than $2,250,000 of the charges collected in connection with the insurance of loans as authorized by section 309(e) of the Consolidated Farmers Home Administration Act of 1961, as amended, and section 514(b) (3) of the Housing Act of 1949, as amended[: Provided, That, in addition, not to exceed $500,000 of the funds available for the various programs administered by this Agency may be transferred to this appropriation for temporary field employment pursuant to the second sentence of section 706(a) of the Organic Act of 1944 (5 U.S.C. 574) to meet unusual or heavy workload increases: Provided further, That no part of any funds in this paragraph may be used to administer a program which makes rural housing grants pursuant to section 504 of the Housing Act of 1949, as amended]. (78 Stat. 796-798; Department of Agriculture and Related Agencies Appropriation Act, 1965.) Program and Financing (in thousands of dollars) New obligational authority: 40 Appropriation.. 41 Transferred to "Operating expenses, Public Buildings Service," General Services Administration (77 Stat. 436 and 78 Stat. 655)... Appropriation (adjusted). Relation of obligations to expenditures: 10 Total obligations... 70 Receipts and other offsets (items 11-17)...- 71 72 Obligated balance, start of year.. 74 Obligated balance, end of year.. 90 91 Obligations affecting expenditures... Expenditures excluding pay increase Stores... Unpaid undelivered orders------- Total selected resources--- 1964 actual 1963 105 50 155 38,871 39,015 38,926 -79 38,847 39,015 38,741 2,560 -2,174 -700 -350 106 38,847 41,233 44,692 1965 1966 estimate estimate 43.983 1964 125 174 299 43,983 46,942 -2,250 -2,250 39,544 46,942 -11 41,233 2,174 -2,407 39,127 39,350 1,650 43,983 46,942 -2,750 -2,250 44,692 Includes capital outlay as follows: 1964, $411 thousand; 1965, $200 thousand; 1966. $300 thousand. 1 Selected resources as of June 30 are as follows: 1965 125 174 299 44,692 -2,499 44,550 1966 125 174 299 |
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