Page:United States Statutes at Large Volume 104 Part 5.djvu/842

 104 STAT. 4164 PUBLIC LAW 101-625—NOV. 28, 1990 (4) Administrative costs of the applicant, which may not exceed 15 percent of the sunount of the assistance provided under this section. (5) Development of resident management corporations and resident management councils, but only if the applicant has not received assistance under section 322 for such activities. (6) Counseling and training of homebuyers and homeowners under the homeownership program. (7) Relocation of tenants who elect to move. (8) Any necessary temporary relocation of tenants during rehabilitation. (9) Planning for establishment of for- or not-for-profit small businesses by or on behalf of residents, job training, and other activities that promote economic self-sufficiency of homebuyers and homeowners of the property covered by the homeownership program and economic development of the neighborhood. (10) Funding of operating expenses and replacement reserves of the property covered by the homeownership program. (11) Legal fees. (12) Defraying costs for the ongoing training needs of the recipient that are related to developing and carr3ring out the homeownership program. (13) Ek;onomic development activities that promote economic self-sufficiency of homebuyers, residents, and homeowners under the homeownership program. (c) MATCHING FUNDING. — (1) IN GENERAL.—Each recipient shall assure that contributions equal to not less than 33 percent of the grant amounts made available under this section, excluding any amounts provided for post-sale operating expense, shall be provided from non-Federal sources to carry out the homeownership program. (2) FORM.— Such contributions may be in the form of— (A) cash contributions from non-Federal resources, which may not include funds from a grant made under section 106(b) or section 106(d) of the Housing and Community Development Act of 1974; (B) payment of administrative expenses, as defined by the Secretary, from non-Federal resources, including funds from a grant made under section 106(b) or section 106(d) of the Housing and (Community Development Act of 1974; (C) the value of taxes, fees, or other charges that are normally and customarily imposed but are waived, foregone, or deferred in a manner that facilitates the implementation of a homeownership program assisted under this subtitle; (D) the value of land or other real property as appraised according to procedures acceptable to the Secretary; (E) the value of investment in on-site and off-site infrastructure required for a homeownership program assisted under this subtitle; or (F) such other in-kind contributions as the Secretary may approve. Contributions for administrative expenses shall be recognized only up to an amount equal to 7 percent of the total amount of grants made available under this section. (d) APPLICATION. —

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