Page:United States Statutes at Large Volume 69.djvu/516

 474

PUBLIC LAW 221-AUG. 4, 1955

[69 S T A T.

agency thereof (including members of the Armed Forces), or of a State or political subdivision or agency thereof; (2) A n officer or employee employed at a school or hospital located in the project area; (3) A person engaged in or employed in the project area by any professional, commercial, or industrial enterprise occupying premises located in the project area; or (4) An officer or employee of any church or nonprofit organization occupying premises located in the project area. k. The term "resident" means any person who, on the date on which the property in question is first offered for sale is either— (1) an occupant in a residential unit designated for sale at the community, or (2) a project-connected person who is entitled, in accordance with a lease or similar agreement, to residential occupancy of privately owned rental housing in the community. 1. The term "utility" means any electrical distribution system, any public transportation system, or any public communication system, and any fixtures, equipment, or other property appropriate to the operation, maintenance or repair of the foregoing. C H A P T E K 3. L O T S, A P P E A I S A L S, A N D P K I C E S SEC. 31. LOTS.—The Commission is authorized to plat each community immediately upon passage of this Act, or immediately upon the inclusion of the community within the provisions of this Act. The Commission may establish lot boundaries, and realine, divide, or enlarge existing tracts as it deems appropriate. SEC. 32. APPRAISALS.—The Commission shall proceed to secure appraisals of all property at the community which is to be sold pursuant to this Act. The appraisals shall be made by the Federal Housing Commissioner or his designee. The Commission shall reimburse the Federal Housing Commissioner for the cost of such appraisals. Appraisals made under this section shall be the appraisals on which the Federal Housing Commissioner may insure any mortgage or loan under the National Housing Act until such time as he finds that the appraisal values generally in the community no longer represent the fair market values of the properties. SEC. 33. BASIS OF APPRAISAL.—Except for lots sold pursuant to the provisions of section 57a., the appraised value shall be the current fair market value of the Government's interest in the property. SEC. 34. POSTING.—Lists showing the appraised value of each parcel of property to be offered for sale to priority purchasers shall, prior to the offering of such property for sale, be made available for public inspection, at reasonable times, at the offices of the Commission at the community. SEC. 35. SALES PRICES.—

a. I n the sale to priority purchasers of properties on which are located Government-owned single or duplex houses, the sales price shall be the appraised value less a deduction of 15 per centum of the appraised value and less the deductions provided by section 36. b. I n all other cases the sales price to priority purchasers shall be the appraised value less the deductions provided by section 36, except that sales made under sections 53 b. and c. shall be made at the prices set forth therein. SEC. 36. IMPROVEMENTS.—

a. I n addition to any other deduction which may be permitted from the sales price for residential property, there shall, upon

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