Page:United States Statutes at Large Volume 101 Part 3.djvu/556

 101 STAT. 1854

42 USC l437o.

PUBLIC LAW 100-242—FEB. 5, 1988

section to rehabilitate units with no bedroom or 1 bedroom, if the occupants of the units will have incomes that do not exceed 50 percent of the median income of the area.". (e) ADMINISTRATIVE EXPENSES.—Section 17(h) of the United States Housing Act of 1937 is amended by inserting before the period at the end the following: ", except that not more than 10 percent of any rehabilitation grant received under subsection (c) may be retained to cover administrative expenses incurred by any State administering resources made available under subsection (b) (which State shall share such amount with units of general local government administering the program with the State) and by any city or urban county receiving resources under subsection (b)". (f) ELIGIBILITY.—Section 17(k)(4) of the United States Housing Act of 1937 is amended— (1) by inserting "privately owned" before "real property"; (2) by inserting "(A)" after "includes"; and (3) by inserting before the semicolon at the end the following: T ", and (B) housing that is owned by a State or locally chartered, neighborhood based, nonprofit organization the primary purpose of which is the provision and improvement of housing". SEC. 151. RENTAL DEVELOPMENT GRANTS. (a) AUTHORIZATION OF APPROPRIATIONS.—Section 17(a)(3) of

the

United States Housing Act of 1937 (as amended by section 150 of this Act) is further amended by adding at the end the following new sentence: "There are authorized to be appropriated for development rants under this section $75,000,000 for fiscal year 1988 and 75,000,000 for fiscal year 1989.". (b) AREA ELIGIBILITY.—Section 17(d)(2) of the United States Housing Act of 1937 is amended by adding at the end the following new sentence: "Notwithstanding any other provision of law, the eligibility requirements for development grants under this section shall be the requirements in effect under this subsection on October 17, 1986.". (c) GRANT AMOUNT.—Section 17(d)(4)(B) of the United States Housing Act of 1937 is amended by striking "refinancing costs and". (d) PROGRAM REQUIREMENTS.—Section 17(d)(4) of the United States Housing Act of 1937 is amended— (1) by inserting before the semicolon at the end of subparagraph (G) the following: ", except that the Secretary may extend such period by not more than 6 months if the commencement of such activities is delayed due to judicial or administrative proceedings"; (2) by striking "and" at the end of subparagraph (G); (3) by striking the period at the end of subparagraph (H) and inserting "; and"; and (4) by adding at the end the following new subparagraph: "(I) the owner of each assisted structure agrees to comply with the provisions of paragraph (8) until the 20-year period specified in paragraph (7) has ended.". (e) DEVELOPMENT COST.—Section 17(d) of the United States Housing Act of 1937 is amended by adding at the end the following new paragraph:

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"(10) DEVELOPMENT COST.—

"(A) The Secretary shall include in the development cost of a project assisted under this subsection any developer's fee if such fee—

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