Page:United States Statutes at Large Volume 104 Part 5.djvu/781

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4103 (5) MIXED-USE PROJECT.—Housing in a project that is designed in part for uses other than residential use shall qualify as affordable housing if such housing meets the criteria of this section. (b) HoMEOWNERSHiP. —Housing that is for homeownership shall qualify as affordable housing under this title only if the housing— (1) has an initial purchase price that does not exceed 95 percent of the median purchase price for the area, as determined by the Secretary with such adjustments for differences in structure, including whether the housing is single-family or multifamily, and for new and old housing as the Secretary determines to be appropriate; (2) is the principal residence of an owner whose family qualifies as a low-income family at the time of purchase; (3) is made available for initial purchase only to first-time homebuyers; (4) is made available for subsequent purchase only— (A) to persons who meet the qualifications specified under paragraph (2), and (B) at a price consistent with guidelines that are established by the participating jurisdiction and determined by the Secretary to be appropriate— (i) to provide the owner with a fair return on investment, including any improvements, and (ii) to ensure that the housing will remain affordable to a reasonable range of low income homebuyers; and (5) if newly constructed, meets the energy efficiency standards promulgated by the Secretary in accordance with section 109 of this Act. SEC. 216. PARTICIPATION BY STATES AND LOCAL GOVERNMENTS. 42 USC 12746. The Secretary shall designate a State or unit of general local Regulations. government to be a participating jurisdiction when it complies with procedures that the Secretary shall establish by regulation, which procedures shall only provide for the following: (1) ALLOCATION. — Not later than 20 days after funds to carry out this subtitle become available (or, during the first year after enactment of this Act, not later than 20 days after (A) funds to carry out this subtitle are provided in an appropriations Act, or (B) regulations to implement this subtitle are promulgated, whichever is later), the Secretary shall allocate funds in accordance with section 217 and promptly notify each jurisdiction receiving a formula allocation of its allocation amount. If a jurisdiction is not already a participating jurisdiction, the Secretary shall inform the jurisdiction in writing how the jurisdiction may become a participating jurisdiction. (2) CONSORTIA. — A consortium of geographically contiguous units of general local government shall be deemed to be a unit of general local government for purposes of this title if the Secretary determines that the consortium— (A) has sufficient authority and administrative capability to carry out the purposes of this title on behalf of its member jurisdictions, and (B) will, according to a written certification by the State (or States, if the consortium includes jurisdictions in more than one State), direct its activities to alleviation of housing problems within the State or States.

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