Page:United States Statutes at Large Volume 106 Part 5.djvu/128

 106 STAT. 3766 PUBLIC LAW 102-550—OCT. 28, 1992 "Subtitle C—Technical Assistance and Capacity Building 12 USC 4141. " SEC. 251. AUTHORITY. technical assistance and capacity building to further the preservation program established under this title. 12 USC 4142. "SEC. 262. PURPOSES. "The purposes of this subtitle are— "(1) to promote the ability of residents of eligible lowincome housing to meaningfully participate in the preservation process established by this title and affect decisions about the future of their housing; "(2) to promote the ability of community-based nonprofit housing developers and resident councils to acquire, rehabilitate, and competently own and manage eligible housing as rental or cooperative housing for low- and moderate-income people; and "(3) to assist the Secretary in discharging the obligation under section 220 to notify potential qualified purchasers of the availability of properties for sale and to otherwise facilitate the coordination and oversight of the preservation program established under this title. 12 USC 4143. "SEC. 253. GRANTS FOR BUILDING RESIDENT CAPACITY AND FUND- ING PREDEVELOPMENT COSTS. "(a) IN GENERAL.—Assistance made available under this section shall be used for direct assistance grants to resident organizations and community-based nonprofit housing developers and resident councils to assist the acquisition of specific projects (including the payment of reasonable administrative expenses to participating intermediaries). "(b) ALLOeATiON.— 3 0 percent of the assistance made available under this section shall be used for resident capacity grants in accordance with subsection (d). The remainder shall be used for predevelopment grants in connection with specific projects in accordance with subsection (e). "(c) LIMITATION ON GRANT AMOUNTS.—A resident capacity grant under subsection (d) may not exceed $30,000 per project and a frant under subsection (e) for predevelopment costs may not exceed 200,000 per project, exclusive of any fees paid to a participating intermediary by the Secretary for administering the program. "(d) RESIDENT CAPACITY GRANTS.— "(1) USE.— Resident capacity grants under this subsection shall be available to eligible applicants to cover expenses for resident outreach, incorporation of a resident organization or council, conducting democratic elections, training, leadership development, legal and other technical assistance to the board of directors, staff and members of the resident organization or council. "(2) ELIGIBLE HOUSING. —Grants under this subsection may be provided with respect to eligible low-income housing for which the owner has filed a notice of intent under subtitle B of this title or title II of the Emergency Low Income Housing
 * The Secretary of Housing and Urban Development may provide

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