Page:United States Statutes at Large Volume 108 Part 1.djvu/383

 PUBLIC LAW 103-233—APR. 11, 1994 108 STAT. 357 "(10) the number of HUD-owned projects sold; "(11) a description of actions undertaken pursuant to this section, including a description of the effectiveness of such actions and any impediments to the disposition or management of multifamily housing projects; "(12) a description of the extent to which the provisions of this section and actions taken under this section have displaced tenants of multifamily housing projects; "(13) a description of any of the functions performed in connection with this section that are contracted out to public or private entities or to States; and "(14) a description of the activities carried out under subsection (i) during the preceding year.". (c) CLARIFICATION OF FEDERAL PREFERENCES.— (1) PUBLIC HOUSING TENANCY.— Section 6(c)(4)(A)(i) of the United States Housing Act of 1937 (42 U.S.C. 1437d(c)(4)(A)(i)) is amended by inserting after "displaced" the following: "(including displacement because of disposition of a multifamily housing project under section 203 of the Housing and Community Development Amendments of 1978)". (2) SECTION 8 ASSISTANCE.— Section 8(d)(l)(A)(i) of the United States Housing Act of 1937 (42 U.S.C. 1437fi:d)(l)(A)(i)) is amended by inserting after "displaced" the following: "(including displacement because of disposition of a multifamily housing project under section 203 of the Housing and Community Development Amendments of 1978)". (3) VOUCHER ASSISTANCE.—The first sentence of section 8(o)(3)(B) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(3)(B)) is amended by inserting after "displaced" the following: "(including displacement because of disposition of a multifamily housing project under section 203 of the Housing and Community Development Amendments of 1978)". (d) DEFINITION OF OWNER.— Section 8(f)(1) of the United States Housing Act of 1937 (42 U.S.C. 1437fi:f)(l)) is amended by inserting "an agency of the Federal Government," after "cooperative,". (e) AMENDMENT TO NATIONAL HOUSING ACT. —Title V of the National Housing Act (12 U.S.C. 1731a et seq.) is amended by adding at the end the following new section: "PA R T I A L P AYM ENT OF CLAIMS ON MULTIFAMILY HOUSING PROJECTS "SEC. 541. (a) AUTHORITY.— Notwithstanding any other provi- 12 USC I735f-19. sion of law, if the Secretary is requested to accept assignment of a mortgage insured by the Secretary that covers a multifamily housing project (as such term is defined in section 203(b) of the Housing and Community Development Amendments of 1978) and the Secretary determines that partial payment would be less costly to the Federal Government than other reasonable alternatives for maintaining the low-income character of the project, the Secretary may request the mortgagee, in lieu of assignment, to— "(1) accept partial pa3anent of the claim under the mortgage insurance contract; and "(2) recast the mortgage, under such terms and conditions as the Secretary may determine. "(b) REPAYMENT. —As a condition to a partisd claim payment under this section, the mortgagor shall agree to repay to the Secretary the amount of such payment and such obligation shall be

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