Page:United States Statutes at Large Volume 107 Part 3.djvu/463

 PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2401 (b) FDIC.—Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is amended by adding after subsection (v) (as added by section 16(b) of this Act) the following new subsection: "(w) PREFERENCES FOR SALES OF CERTAIN (COMMERCIAL REAL PROPERTIES.— "(1) AuTHORmr.—In selling any eligible commercial real properties of the Corporation, the Corporation shall give pref- erence, among offers to purchase the property that will result in the same net present value proceeds, to any ofTer— "(A) that is made by a public agency or nonprofit organization; and "(B) under which the purchaser agrees that the property shall be used, during the remaining useful life of the property, for offices and administrative purposes of the purchaser to carry out a program to acauire residential properties to provide (i) homeownership ana rental housing opportunities for very-low-, low-, and moderate-income families, or (ii) housing or shelter for homeless persons (as such term is defined in section 103 of the Stewart B. McKinney Homeless Assistance Act) or homeless families. "(2) DEFINITIONS.—For purposes of this subsection, the following definitions shall apply: "(A) ELIGIBLE COMMERCIAL REAL PROPERTY. —The term 'eligible commercial real property* means any property (i) to which the Corporation acquires title, ana (li) that the Corporation, in the discretion of the (Corporation, determines is suitable for use for the location oi offices or other administrative functions involved with carrying out a program referred to in paragraph (I)(B). "(B) NONPROFIT ORGANIZATION AND PUBLIC AGENCY. — ^ The terms 'nonprofit organization' and 'public SLgency have the same meanings as in section 4(Kp).''. SEC. 18. FEDERAL HOME LOAN BANKS HOUSING OPPORTUNITY HOT- LINE PROGRAM. The Federal Home Loan Bank Act (12 U.S.C. 1422 et seq.) is amended by inserting after section 26 the following new section: " SEC. 27. HOUSING OPPORTUNITY HOTLINE PROGRAM. 12 USC 1447. " (a) ESTABLISHMENT.— The Federal Home Loan Banks shall, individually or (at the discretion of the Federal Housing Finance Board) on a consolidated basis, establish and provide a service substantially similar (in the determination of the Board) to the ' Housing Opportunity Hotline' program established in October 1992, by the Federal Home Loan Bank of Dallas. "(b) PURPOSE.—The service or services established under this section shall provide information regarding the availability for purchase of single family properties that are owned or held by Federal agencies and are located in the Federal Home Loan Bank district for such Bank. Such agencies shall provide to the Federal Home Loan Banks the information necessary to provide such service or services. "(c) REQUIRED INFORMATION. —The service or services established under this section shall use the information obtained from Federal agencies to provide information regarding the size, location, price, and other characteristics of such single family properties, the eligibility requirements for purchasers of such properties, the

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