Page:United States Statutes at Large Volume 104 Part 5.djvu/935

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4257 "(b) PERMISSIBLE INCENTIVES.— Such agreements may include one or more of the following incentives: "(1) Increased access to residual receipts accounts. "(2) Subject to the availability of amounts provided in appropriations Acts— "(A) an increase in the rents permitted under an existing contract under section 8 of the United States Housing Act of 1937, or "(B) additional assistance under section 8 or an extension of any project-based assistance attached to the housing; and "(3) An increase in the rents on units occupied by current tenants as permitted under section 222. "(4) Financing of capital improvements under section 201 of the Housing and Community Development Amendments of 1978. "(5) Financing of capital improvements through provision of insurance for a second mortgage under section 241 of the National Housing Act. "(6) In the case of housing defined in section 229(l)(A)(iii), redirection of the Interest Reduction Pajment subsidies to a second mortgage. "(7) Access by the owner to a portion of the preservation equity in the housing through provision of insurance for a second mortgage loan insured under section 241(f) of the National Housing Act or a non-insured mortgage loan approved by the Secretary and the mortgagee. "(8) Other incentives authorized in law. With respect to any housing with a mortgage insured or otherwise assisted pursuant to section 236 of the National Housing Act, the provisions of subsections (f) and (g) of section 236 of such Act notwithstanding, the fair market rental charge for each unit in such housing may be increased in accordance with this subsection, but the owner shall pay to the Secretary all rental charges collected in excess of the basic rental charges, in an amount not greater than the fair market rental charges as such charges would have been established under section 236(f) of such Act absent the requirements of this paragraph. "SEC. 220. INCENTIVES FOR TRANSFER TO QUALIFIED PURCHASERS. 12 USC 4110. "(a) IN GENERAL.— With respect to any eligible low-income housing for which an owner has submitted a second notice of intent under section 216(d) to transfer the housing to a qualified purchaser, the owner shall offer the housing for transfer to qualified purchasers as provided in this section. The Secretary shall issue regula- Regulations, tions describing the means by which potential qualified purchasers shall be notified of the availability of the housing for sale. The Secretary shall take into account the Federal cost limits under section 215(a) for the housing when providing incentives under section 219(b)(2) and (b)(3) (pursuant to subsection (d)(3) of this section). "(b) RIGHT OF FIRST OFFER TO PRIORITY PURCHASERS.— " (1) NEGOTIATION PERIOD. —For the 12-month period beginning on the receipt by the Secretary of a second notice of intent under section 216(d) with respect to such housing, the owner may offer to sell and negotiate a sale of the housing only with priority purchasers. The negotiated sale price may not exceed the preservation value of the housing determined under section

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