Page:United States Statutes at Large Volume 73.djvu/713

 73 S T A T. ]

PUBLIC LAW 86-372-SEPT. 23, 1959

675

REQUIREMENTS FOR URBAN RENEWAL* PLAN

SEC. 412. Section 110(b) of the Housing Act of 1949 is amended by inserting after "to indicate" in clause (2) the following: ", to the extent required by the Administrator for the making of loans and grants under this title,".

J^ f^at. 30^1.

NONRESIDENTIAL REDEVELOPMENT

SEC. 413. Section 110(c) of the Housing Act of 1949 is amended by striking out the second paragraph following the paragraph numbered (6) and inserting in lieu thereof the following: "Financial assistance shall not be extended under this title with respect to any urban renewal area which is not predominantly residential in character and which, under the urban renewal plan therefor, is not to be redeveloped for predominantly residential uses: Provided, That, if the governing body of the local public agency determines that the redevelopment of such an area for predominantly nonresidential uses is necessary for the proper development of the community, the Administrator may extend financial assistance under this title for such a project: Provided further, That the aggregate amount of capital grants contracted to be made pursuant to this title with respect to sudi projects after the date of the enactment of the Housing Act of 1959 shall not exceed 20 per centum of the aggregate amount of grants authorized by this title to be contracted for after such date."

Jo sm. ^1097.

LOCAL GRANTS

SEC. 414. (a) Section 110(d) of the Housing Act of 1949 is $^ ggl:'i^lo. amended by adding at the end thereof the following new paragraph: "Notwithstanding any other provision of this subsection, no donation or provision of a public improvement or public facility of a type falling within the purview of this subsection shall be deemed to be ineligible as a local grant-in-aid for any project solely on the basis that the construction of such improvement or facility was commenced without notification to the Administrator or prior to Federal recognition of such project, if such construction was commenced not more than three years prior to the authorization by the Administrator of a contract tor loan or capital grant for the project." (b) The requirement in section 110(d) of the Housing Act of 1949 that the assistance provided by a State, municipality, or other public body under that sectioUj in order to qualify as a local grant-in-aid, shall be in connection with a project on which a contract for capital grant has been made under title I of that Act, shall not apply to " stat^ ^i^assistance provided during the period from July 1, 1957, through et seq. December 31, 1957, in connection with urban renewal activities which were extended Federal recognition within sixty days after the provision of such assistance was initiated. CREDIT FOR LOSS OF INTEREST

SEC. 415. Section 110(e) of the Housing Act of 1949 is amended J2 tree i^eo by striking out the first sentence and inserting in lieu thereof the following: "'Gross project cost' shall comprise (1) the amount of the expenditures by the local public agency with respect to any and all undertakings necessary to carry out the project (including the payment of carrying charges, but not beyond the point where the project is completed), and (2) the amount of such local grants-in-aid as are furnished in forms other than cash. There may be included as part of the gross project cost, under any contract for loan or grant

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