Page:United States Statutes at Large Volume 112 Part 3.djvu/751

 PUBLIC LAW 105-276—OCT. 21, 1998 112 STAT. 2581 this section with the Secretary for the management of specified housing. "(3) NONPROFIT. —The term 'nonprofit' means, with respect to an organization, association, corporation, or other entity, that no part of the net earnings of the entity inures to the benefit of any member, founder, contributor, or individual. "(4) PRIVATE NONPROFIT ORGANIZATION.— The term 'private nonprofit organization' means any private organization (including a State or locally chartered organization) that— "(A) is incorporated under State or local law; "(B) is nonprofit in character; "(C) complies with standards of financial accountability acceptable to the Secretary; and "(D) has among its purposes significant activities related to the provision of decent housing that is affordable to low-income families. "(5) PUBLIC NONPROFIT ORGANIZATION.—The term 'public nonprofit organization' means any public entity that is nonprofit in character. "(6) SPECIFIED HOUSING. — The term 'specified housing' means a public housing project or projects, or a portion of a project or projects, for which the transfer of management is requested under this section. The term includes one or more contiguous buildings and an area of contiguous row houses, but in the case of a single building, the building shall be sufficiently separable from the remainder of the project of which it is part to make transfer of the management of the building feasible for purposes of this section.". SEC. 535. DEMOLITION, SITE REVITALIZATION, REPLACEMENT HOUS- ING, AND TENANT-BASED ASSISTANCE GRANTS FOR PROJECTS. (a) IN GENERAL.—Section 24 of the United States Housing Act of 1937 (42 U.S.C. 1437v) is amended to read as follows: "SEC. 24. DEMOUTION, SITE REVITALIZATION, REPLACEMENT HOUS- ING, AND TENANT-BASED ASSISTANCE GRANTS FOR PROJECTS. "(a) PURPOSES. —The purpose of this section is to provide assistance to public housing agencies for the purposes of— "(1) improving the living environment for public housing residents of severely distressed public housing projects through the demolition, rehabilitation, reconfiguration, or replacement of obsolete public housing projects (or portions thereof); "(2) revitalizing sites (including remaining public housing dwelling units) on which such public housing projects are located and contributing to the improvement of the surrounding neighborhood; "(3) providing housing that will avoid or decrease the concentration of very low-income families; and "(4) building sustainable communities. "(b) GRANT AUTHORITY. — The Secretary may make grants as provided in this section to applicants whose applications for such grants are approved by the Secretary under this section. "(c) CONTRIBUTION REQUIREMENT.— "(1) IN GENERAL.— The Secretary may not make any grant under this section to any applicant unless the applicant certifies to the Secretary that the applicant will—

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