Page:United States Statutes at Large Volume 106 Part 5.djvu/208

 106 STAT. 3846 PUBLIC LAW 102-550—OCT. 28, 1992 (2) by inserting before the period at the end the following: "; except that the Secretary may, by regulation, exclude from consideration as program income any amounts determined to be so small that compliance with this subsection creates an unreasonable administrative burden on the imit of general local government". SEC. 805. ECONOMIC DEVELOPMENT. (b) Section 105 of the Housing and Community Development Act of 1974 (42 U.S.C. 5305) is amended by adding at the end the following new subsection: "(d) TRAINING PROGRAM. — The Secretary shall implement, using funds recaptured pursuant to section 119(o), an on-going education • and training program for officers and employees of the Department, especially of^cers and employees of area and other field offices of the Department, who are responsible for monitoring and administering activities pursuant to paragraphs (14), (15), and (17) of subsection (a) for the purpose of ensuring that (A) such personnel possess a thorough understanding of such activities; and (B) regulations and guidelines are implemented in a consistent fashion.". SEC. 806. EVALUATION, SELECTION, AND REVIEW OF ECONOMIC DEVELOPMENT PROJECTS. (a) GUIDELINES. — Section 105 of the Housing and Community Development Act of 1974 (42 U.S.C. 5305), as amended by section 805, is amended by adding at the end the following new subsection: " (e) GUIDELINES FOR EVALUATING AND SELECTING ECONOMIC DEVELOPMENT PROJECTS.— Regulations. " (1) ESTABLISHMENT.— The Secretary shall establish, by regulation, guidelines to assist grant recipients under this title to evaluate and select activities described in section 105(a) (14), (15), and (17) for assistance with grant amounts. The Secretary shall not base a determination of eligibility of the use of funds under this title for such assistance solely on the basis that the recipient fails to achieve one or more of the guidelines' objectives as stated in paragraph (2). " (2) PROJECT COSTS AND FINANCIAL REQUIREMENTS.—The guidelines established under this subsection shall include the following objectives: "(A) The project costs of such activities are reasonable. "(B) To the extent practicable, reasonable financial support has been committed for such activities from non-Federal sources prior to disbursement of Federal funds. "(C) To the extent practicable, any grant amounts to be provided for such activities do not substantially reduce the amount of non-Federal financial support for the activity. "(D) Such activities are financially feasible. "(E) To the extent practicable, such activities provide not more than a reasonable return on investment to the owner. \ «^p^ rp^ YiQ extent practicable, grant amounts used for the costs of such activities are disbursed on a pro rata basis with amounts from other sources. "(3) PUBLIC BENEFIT.— The guidelines established under this subsection shall provide that the public benefit provided by the activity is appropriate relative to the amount of assistance provided with grant amounts under this title.".

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