Page:United States Statutes at Large Volume 104 Part 5.djvu/799

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4121 submitted by public housing agencies and nonprofit entities); (G) the extent of non-Federal public or private assistance to the project; (H) the extent to which the project provides supportive services for persons with disabilities; and (I) any other factor determined by the Secretary to be appropriate. (c) GuiDEUNES. —The Secretary shall publish guidelines for the model program under this section not later than 180 days after enactment of this Act. SEC. 253. RENTAL REHABILITATION. (a) IN GENERAL.— The Secretary shall make available a model program to support the rehabilitiation of privately owned rental housing located in neighborhoods where the median income does not exceed 80 percent of the area median as determined by the Secretary and where rents can reasonably be expected not to change materially over an extended period of time. Qa) AMOUNT OF SUBSIDY. —The amount of the rehabilitation subsidy shall be moderate and shall generally not exceed 50 percent of the total costs associated with the rehabilitation of the housing. (c) ADDITIONAL RESTRICTIONS. — The guidelines of the model program shall generally comport with the additional protections and restrictions specified under section 17(c) of the United States Housing Act of 1937. SEC. 254. REHABILITATION LOANS. (a) IN GENERAL.— The Secretary shall make available a model program to provide direct loans to finance the rehabilitation of low and moderate income single family and multifamily residential properties. (b) CONDITION OF LOANS.— The Secretary shall establish terms and conditions to ensure that such loans are acceptable risks, taking into consideration the need for rehabilitation, the security for the loan and the ability of the borrower to repay the loan. The Secretary may establish the interest rate for loans under the model program, which shall include special interest rates for loans to borrowers with incomes below 80 percent of the area median income. (c) ADDITIONAL RESTRICTIONS.— Guidelines for the model program may require that the property— (1) be located in an area that contains a substantial number of dwellings in need of rehabilitation; (2) the property is residential and owner-occupied; and (3) the property is in need of rehabilitation or concentrated code enforcement within a reasonable time, and the rehabilitation of such property is consistent with a local plan for rehabilitation or code enforcement. Additional guidelines for the model program shall generally comport with the additional protections and restrictions specified under section 312 of the Housing Act of 1964. SEC. 255. SWEAT EQUITY MODEL PROGRAM. (a) IN GENERAL. —The Secretary shall make available a model program to provide grants to public and private nonprofit organizations and community housing development organizations to provide technical and supervisory assistance to low-income and very low- 42 USC 12803. 42 USC 12804. Labor. 42 USC 12805. Grant programs. Nonprofit organizations. Homeless.

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