Page:United States Statutes at Large Volume 104 Part 5.djvu/1067

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4389 SEC. 908. PUBLIC SERVICES. (a) STATEWIDE CEIUNG.— Section 105(a)(8) of the Housing and Community Development Act of 1974 (42 U.S.C. 5305(a)(8)) is amended by inserting after "unit of general local government" the third time it appears "(or in the case of nonentitled communities not more than 15 per centum statewide)". (b) PROGRAM INCOME. —Section 105(a)(8) of the Housing and Community Development Act of 1974 is amended by inserting after "under this title" the second place it appears "including program income". SEC. 909. AUTHORITY TO PROVIDE LUMP-SUM PAYMENTS TO REVOLVING 42 USC 5304 LOAN FUNDS. i^ote. (a) IN GENERAL.—Notwithstanding any other provision of law, ^ units of general local government receiving assistance under title I of the Housing and (Community Development Act of 1974 may receive funds in one pa3anent for use in establishing or supplementing revolving loan funds in the manner provided under section 104(h) of such Act (42 U.S.C. 5304(h)). (b) APPLICABILITY.—T his section shall apply to funds approved in appropriations Acts for use under title I of the Housing and (Dommunity Development Act of 1974 for fiscal year 1992 and any fiscal year thereafter. SEC. 910. COMMUNITY DEVELOPMENT LOAN GUARANTEES. 42 USC 5308 (a) STATEMENT OF PURPOSE AND OBJECTIVES. — (1) PURPOSES.—The purposes of the amendments made by this section are— (A) to reaffirm the commitment of the Federal Government to assist local governments in their efforts in stimulating economic and community development activities needed to combat severe economic distress and to help in ^ promoting economic development activities needed to aid in economic recovery; and (B) to promote revitalization and development projects undertaken by local governments that principally benefit persons of low and moderate income, the elimination of slums and blight, and to meet urgent community needs, with special priority for projects located in areas designated as enterprise zones by the Federal Government or by any State. (2) OBJECTIVES.— In order to further the purpose described in paragraph (1), activities undertaken pursuant to the amendments made by this section shall be directed toward meeting the objectives set forth in sections 101(c) and 104(b)(3) of the Housing and Community Development Act of 1974 (42 U.S.C. 5301(c) and 5304(b)(3)) and the additional objectives of— (A) encouraging local governments to establish publicprivate partnerships; (B) preserving housing affordable for persons of low and moderate income; and (C) creating permanent employment opportunities, primarily for persons of low and moderate income. (b) GUARANTEE OF LOANS ISSUED BY NONENTITLEMENT COMMU- NITIES AND TERRITORIES. — (1) ELIGIBILITY. —

�