Page:United States Statutes at Large Volume 103 Part 1.djvu/874

 103 STAT. 846 PUBLIC LAW 101-144 —NOV. 9, 1989 Contracts. Loans. Indians. Alaska. Section 6 of the United States Housing Act of 1937 (42 U.S.C. 1437d) is amended by inserting after subsection (a) the following new subsection: "(b)(l) Each contract for loans (other than preliminary loans) or contributions for the development, acquisition, or operation of public housing and public housing for Indians and Alaska Natives in accordance with the Indian Housing Act of 1988 shall provide that the total development cost of the project on which the computation of any annual contributions under this Act may be based may not exceed the amount determined under paragraph (2) (for the appro- priate structure t3rpe) unless the Secretary provides otherwise, and in any case may not exceed 110 per centum of such amount unless the Secretary for good cause determines otherwise. "(2) For purposes of paragraph (1), the Secretary shall determine the total development cost by multiplying the construction cost guideline for the project (which shall be determined by averaging the current construction costs, as listed by not less than 2 nationally recognized residentisd construction cost indices, for publicly bid construction of a good and sound quality) by— "(A) in the case of elevator type structures, 1.6; and "(B) in the case of nonelevator type structures, 1.75.". ASSISTANCE FOR THE RENEWAL OF EXPIRING SECTION 8 SUBSIDY CONTRACTS For assistance under the United States Housing Act of 1937 (42 U.S.C. 1437) not otherwise provided for, for use in connection with expiring section 8 subsidy contracts, $1,091,978,475, to remain avail- able until expended, of which $517,777,500 shall be for existing certificates, $449,145,000 shall be for housing vouchers and $125,055,975 shall be for loan management under section 8: Pro- vided, That funds provided under this paragraph may not be obli- gated for a contract term that is less than five years: Provided further. That to the extent any amount in this paragraph is insuffi- cient for the purpose for which it is earmarked, the Secretary may supplement such amount with up to $90,000,000 from funds other- wise earmarked under this paragraph: Provided further, That to the extent such supplement is insufficient, the Secretary may, from the Annual Contributions for Assisted Housing paragraph, transfer to, add to, and merge with the amounts appropriated under this para- graph up to $90,000,000 to fund such insufficiency, and the $1,373,060,823 earmarked for amendments to section 8 contracts other than contracts for projects developed under section 202 of the Housing Act of 1959, in the Annual (Contributions for Assisted Housing paragraph, shall be reduced by an amount equal to the amount transferred. 42 USC 1490m note. RENTAL REHABILITATION GRANTS For the rental rehabilitation grants program, pursuant to section 17(a)(l)(A) of the United States Housing Act of 1937, as amended (42 U.S.C. 1437o), $130,000,000, to remain available until September 30, 1992: Provided, That section 311(d) of the Housing and Community Development Act of 1987 is amended by striking "September 30, 1989" and inserting "September 30, 1991".

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