Page:United States Statutes at Large Volume 106 Part 5.djvu/85

 PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3723 8(b)(2) of the United States Housing Act of 1937 (as in effect on September 30, 1983) entered into during any of calendar years 1979 through 1984; and "(2) is being refinanced. "(b) AVAILABILITY OF FUNDS. —The Secretary shall make available to the State housing finance agency in me State in which a qualified project is located, or the local government or local housing agency initiating the refinancing of uie qualified project, as applicable, an amount equal to 50 percent of the amounts recapturedfiromthe project (aii determined by the Secretary on a projectby-project basis). Notwithstanding any other provision of law, such amounts shall be used only for provimng decent, safe, and sanitary housing affordable for very low-income families and persons. "(c) APPLICABILTTY AND BUDGET COMPLIANCE. — "(1) RETROACTIVITY.— This section shall apply to refinancings of projects for which settlement occurred or occurs before, on, or alter the date of the enactment of the Housing and Community Development Act of 1992, subject to the provisions of paragraph (2). "(2) BUDGET COMPLIANCE. —T his section shall apply only to the extent or in such amounts as are provided in appropriation Acts.". SEC. 164. HOPE FOR YOUTH. Title IV of the Cranston-Gonzalez National Affordable Housing Act (42 U.S.C. 1437aaa note et seq.) is amended by adding at the end the following new subtitle: "Subtitle D—HOPE for Youth: Youthbuild Disadvantaged 'SEC. 451. STATEMENT OF PURPOSE. 42 USC 12899. It is the purpose of this subtitle— "(1) to expand the supply of permanent affordable housing for homeless individuals and members of low- and very lowincome families by utilizing the energies and talents of economically disadvantaged young adults; "(2) to provide economically disadvantaged young adults with opportunities for meaningful work and service to their communities in helping to meet t^e housing needs of homeless individuals and members of low- and very low-income families; "(3) to enable economically disadvantaged young adults to obtain the education and employment skills necessary to achieve economic self-sufficiency; and "(4) to foster the development of leadership skills and commitment to community development among young adults in low-income communities. '9EC. 452. PROGRAM AUTHORITY. 42 USC 12899a. (I) planning grants to enable applicants to develop Youthbuild programs; and '%2) implementation grants to enable applicants to carry out Youthbuild programs. "SEC. 453. PLANNING GRANTS. 42 USC 12899b. (a) GRANTS.—The Secretary is authorized to make planning grants to applicants for the purpose of developing Youthbuild pro-
 * The Secretary may make—

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