Page:United States Statutes at Large Volume 103 Part 1.djvu/404

 103 STAT. 376 PUBLIC LAW 101-73—AUG. 9, 1989 " (B) FUNDS FROM RESOLUTION FUNDING CORPORATION.— The Resolution Funding Corporation shall provide the Cor- poration with such sums authorized pursuant to section 21B(e)(8) and the Corporation shall issue capital certificates in exchange therefor. Disadvantaged "(c) DISPOSITION OF ELIGIBLE RESIDENTIAL PROPERTIES.— persons. "(1) PuRPOSE. —The purpose of this subsection is to provide homeownership and rental housing opportunities for very low- income, lower-income, and moderate-income families. "(2) RULES GOVERNING DISPOSITION OF ELIGIBLE SINGLE FAMILY PROPERTIES.— "(A) NOTICE TO CLEARINGHOUSES. —Within a reasonable period of time after acquiring title to an eligible single family property, the (Dorporation shall provide written notice to clearinghouses. Such notice shall contain basic information about the property, including but not limited to location, condition, and information relating to the esti- mated fair market value of the property. Each clearing- ^ house shall make such information available, upon request, to other public agencies, other nonprofit organizations, and qualifying households. The Corporation shall allow public agencies, nonprofit organizations, and qualifying house- holds reasonable access to eligible single family property for purposes of inspection. " (B) OFFERS TO SELL SINGLE FAMILY PROPERTIES TO NON- PROFIT ORGANIZATIONS, PUBLIC AGENCIES, AND QUALIFYING HOUSEHOLDS. — For the 3-month period following the date on which the Corporation makes an eligible single family prop- erty available for sale, the Corporation shall offer to sell the property to (i) qualifying households, or (ii) public agencies or nonprofit organizations that agree to (I) make the prop- erty available for occupancy by and maintain it as afford- able for lower-income families for the remaining useful life of such property, or (II) make the property available for purchase by such families. The restrictions described in subclause (I) of the preceding sentence shall be contained in the deed or other recorded instrument. If upon the expira- tion of such 3-month period, no qualifying household, public agency, or nonprofit organization has made a bona fide offer to purchase the property, the Corporation may offer to Marketing. sell the property to any purchaser. The Corporation shall actively market eligible single family properties for sale to lower-income families. " (3) RULES GOVERNING DISPOSITION OF ELIGIBLE MULTIFAMILY HOUSING PROPERTIES. — "(A) NOTICE TO CLEARINGHOUSES. —Within a reasonable period of time after acquiring title to an eligible multifam- ily housing property, the Corporation shall provide written notice to clearinghouses. Such notice shall contain basic information about the property, including but not limited to location, number of units (identified by number of bed- rooms), and information relating to the estimated fair , market value of the property. The clearinghouses shall make such information available, upon request, to qualify- ing multifamily purchasers. The Corporation shall allow qualifying multifamily purchasers reasonable access to an

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