Page:United States Statutes at Large Volume 106 Part 5.djvu/295

 PUBLIC LAW 102-550 —OCT. 28, 1992 106 STAT. 3933 only to a fcLinily having an income not exceeding the amount specified in section 1103(c)(2). (3) INTEREST.—Any assistance provided under this section for a building or dwelling unit shall bear interest at a rate equivalent to the rate for the most recently marketable obligations issued by the United States Treasury have terms of 10 years. The interest on such assistance shall be required to be repaid only upon s£de of the building. (4) DISCOUNTED REPAYMENT. —The assistance provided under this section for any building containing rental units or any dwelling unit available for purchase by the occupant shall be considered to have been repaid for purposes of this subsection if the original purchaser of the building or the dwelling unit pays to the Secretary an amount equal to 50 percent of the amount of the assistance provided under this section. (e) AUTHORIZATION OF APPROPRIATIONS.— There are authorized to be appropriated for fiscal years 1993 and 1994 such sums as may be necessary for providing assistance under this section. SEC. 1106. COMMUNITY DEVELOPMENT ASSISTANCE. (a) IN GENERAL.— The Secretary shall provide assistance under this section, to the extent amounts are provided in appropriation Acts under subsection (h), to units of general local government to address vital unmet needs and to promote the creation of jobs and economic development in connection with the new town demonstration programs canied out under this title. (b) EuGiBLE UNITS OF GENERAL LOCAL GOVERNMENT. —Assistance may be provided under this section only to units of general local government— (1) within whose boundaries are located any portion of the new town demonstration areas described under the new town demonstration plans for the demonstration programs carried out under this title; (2) that make the certifications to the Secretary required under subsection (c); and (3) that will comply with a residential antidisplacement and relocation assistance plan described in subsection (d). (c) REQUIRED CERTIFICATIONS. —The certifications referred to in subsection (b)(2) shall be certifications that— (1) the assistance will be conducted and administered in conformity with the Civil Rights Act of 1964 and the Civil Rights Act of 1968, and the unit of general local government will affirmatively further fair housing; (2) the project(id use of funds has been developed in a manner that gives maximum feasible priority to activities which are designed to meet community development needs that have been delayed because of the lack of fiscal resources of the unit of general local government or which are designed to address conditions that pose a serious and immediate threat to the health or welfare 01 the community; (3) any projected use of funds for public services will benefit primarily low- and moderate-income families; (4) the unit of general local government will not attempt to recover any capital costs of public improvements assisted in whole or part under this section by assessing any amount against properties owned and occupied by persons of low- and moderate-income, including any fee charged or assessment

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