Page:United States Statutes at Large Volume 104 Part 5.djvu/848

 104 STAT. 4170 PUBLIC LAW 101-625—NOV. 28, 1990 housing, the recipient shall utilize written tenant selection policies and criteria that are approved by the Secretary as consistent with the purpose of improving housing opportunities for low-income families. The recipient shall promptly notify in writing any rejected applicant of the grounds for any rejection, (h) RECORDS AND AUDIT OF RECIPIENTS OF ASSISTANCE.— (1) IN GENERAL.— Each recipient shall keep such records as may be reasonably necessary to fully disclose the amount and the disposition by such recipient of the proceeds of assistance received under this subtitle (and any proceeds from financing obtained or sales under subsections (c) and (d)), the total cost of the homeownership program in connection with which such assistance is given or used, and the amount and nature of that portion of the program supplied by other sources, and such other sources as will facilitate an effective audit. (2) ACCESS BY THE SECRETARY. — The Secretary shall have access for the purpose of audit and examination to any books, documents, papers, and records of the recipient that are pertinent to assistance received under this subtitle. (3) ACCESS BY THE COMPTROLLER GENERAL.— The Comptroller General of the United States, or any of the duly authorized representatives of the Comptroller General, shall also have access for the purpose of audit and examination to any books, documents, papers, and records of the recipient that are pertinent to assistance received under this subtitle. (i) CERTAIN ENTITIES NOT ELIGIBLE.— Any entity that assumes, as determined by the Secretary, a mortgage covering eligible property in connection with the acquisition of the property from an owner under this section must comply with any low-income affordability restrictions for the remaining term of the mortgage. This requirement shall only apply to an entity, such as a cooperative association, that, as determined by the Secretary, intends to own the housing on a permanent beisis. 42 USC 12876. SEC. 426. DEFINITIONS. For purposes of this subtitle: (1) The term "applicant" means the following entities that may represent the tenants of the housing: (A) A resident management corporation established in accordance with the requirements of the Secretary under section 20 of the United States Housing Act of 1937. (B) A resident council. (C) A cooperative association. (D) A public or private nonprofit organization. (E) A public body (including an agency or instrumentality thereof). (F) A public housing agency (including an Indian housing authority). (2) The term "eligible family" means a family or individual— (A) who is a tenant of the eligible property on the date the Secretary approves an implementation grant; or (B) whose income does not exceed 80 percent of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families. (3) The term "eligible property" means a multifamily rental property, containing 5 or more units, that is— (A) owned or held by the Secretary;

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