Page:United States Statutes at Large Volume 104 Part 5.djvu/853

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4175 Contributions for administrative expenses shall be recognized only up to an amount equal to 7 percent of the total amount of grante made available under this section, (d) APPLICATION. — (1) FORM AND PROCEDURE. — An application for an implementation grant shall be submitted by an applicant in such form and in accordance with such procedures as the Secretary shall establish. (2) MINIMUM REQUIREMENTS. — The Secretary shall require M that an application contain at a minimum— (A) a request for an implementation grant, specifying the amount of the grant requested and its proposed uses; (B) a description of the qualifications and experience of the applicant in providing low-income housing; (C) a description of the proposed homeownership program, consistent with section 444 and the other requirements of this subtitle specifying the activities proposed to be carried out and their estimated costs, identifying reasonable schedules for carrying it out, and demonstrating that the program will comply with the affordability requirements under section 444(b); (D) an identification and description of the properties to be acquired under the homeownership program and a description of the composition of potential eligible families, including family size and income; (E) a description of and commitment for the resources that are expected to be made available to provide the matching funding required under subsection (c) and of other resources that are expected to be made available in support of the homeownership progrsun; (F) identification and description of the financing proposed for any (i) rehabilitation and (ii) acquisition (I) of the project, where applicable, by an entity for transfer to eligible families, and (II) by eligible families of ownership interests in, or shares representing, units in the project; (G) the proposed sales prices for the properties, the basis for such price determinations, and terms to an entity, if any, that will purchase that property for resale to eligible families; (H) the proposed sales prices, if any, and terms to eligible families; (I) identification and description of the entity that will operate and manage the property; (J) a certification by the public official responsible for submitting the comprehensive housing affordability strategy under section 105 of the Cranston-Gonzalez National Affordable Housing Act that the proposed activities are consistent with the approved housing strategy of the State or unit of general local government within which the project is located (or, during the first 12 months after enactment of this Act, that the application is consistent with such other existing State or local housing plan or strategy that the Secretary shall determine to be appropriate); and (K) a certification that the applicant will comply with the requirements of the Fair Housing Act, title VI of the Civil Rights Act of 1964, section 504 of the Rehabilitation Act of

�