Page:United States Statutes at Large Volume 106 Part 5.djvu/323

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3961 (4) the size of the conventional mortgage market for central cities, rurcd areas, and other underserved areas relative to the size of the overall conventional mortgage market; (5) the abihty of the enterprises to lead the industry in making mortgage credit available throughout the United States, including central cities, rural areas, and other underserved areas; and (6) the need to maintain the sound financial condition of the enterprises. (c) LOCATION OF PROPERTIES. —The Secretary shall monitor the performance of each enterprise in carrying out this section and shall evaluate such performance (for purposes of section 1336) bcuied on the location of the properties subject to mortgages purchased by each enterprise. (d) TRANSITION.— (1) INTERIM TARGET.— Notwithstanding any other provision of tMs section, during the 2-year period beginning on January 1, 1993, the annual target under this section for purchases by each enterprise of mortgages on housing located m central cities shall be 30 percent of the total number of dwelling units financed by mortgage purchases of the enterprise. (2) INTERIM GOAL. —During such 2-year period, the Secretary shall esteblish a separate annual goal for each enterprise, the achievement of which shall require— (A) an enterprise that is not meeting the target under paragraph (1) upon January 1, 1993, to improve its performance relative to such torget annually and, to the maximum extent feasible, to meet such target at the conclusion of such 2-year period; and (B) an enterprise that is meeting the target under paragraph (1) upon January 1, 1993, to improve its performance relative to the target. (3) DEFINITION OF CENTRAL CITY. —For pui^rases of this subsection, the term "central city" means any political subdivision designated as a central city by the Office of Management and Budget. (4) IMPLEMENTATION. —The Secretary shall esteblish any requiremente necessary to implement the transition provisions under this subsection by notice, afi«r providing the enterprises with an opportunity to review and comment not less than 30 days before the issuance of such notice. Such notice shall be issued not later than the expiration of the 90-day period beginning upon the date of the enactment of this Act and shall be effective upon issuance. SEC. 1335. OTHER REQUIREMENTS. 12 USC 4565. To meet the low- and moderate-income housing goal under section 1332, the special affordable housing goal under section 1333, and the central cities, rural areas, and other underserved areas housing goal under section 1334, each enterprise shall— (1) design programs and producte that fadlitete the use of assistance provided by the Federal Government and State and local governmente; (2) develop relationships with nonprofit and for-profit organizations that develop and finance housing and with stete and local governmente, including housing finance agencies; (3) take affirmative steps to^

�