Page:United States Statutes at Large Volume 78.djvu/830

 788 yslt^t^'iel^.^'^'' 42 USC 1460.

PUBLIC LAW 88-560-SEPT. 2, 1964

[78 STAT.

(^) Section 110(c) of such Act is further amended by— (1) striking out "and" at the end of paragraph (6), and redesignating paragraph (7) as paragraph (8); (2) inserting after paragraph (6) a new paragraph as follows: "(7) construction of foundations and platforms necessary for the provision on air rights sites of housing (and related facilities and uses) designed specifically for, and limited to, families and individuals of low or moderate income; and"; and (3) striking out "paragraph (7) " in the third sentence (as numbered prior to the amendments made by this Act) and inserting in lieu thereof "paragraphs (7) and (8)". (c) Section 110(d) of such Act is amended by striking out "project)" and inserting in lieu thereof "project, or of air rights over streets, alleys, and other public rights-of-way)". (d) Section 110(e) of such Act is amended by striking out "and (7)" in clause (i) and inserting in lieu thereof "{7), and (8)". AMENDMENT OF D E r i N I T l O N OF " G O I N G FEDERAL R A T E "

68 Stat. 626.

SEC. 309. Section 110(g) of the Housing Act of 1949 is amended by striking out the last sentence and inserting in lieu thereof the following: "Any contract for a loan or advance, authorized by the Administrator alter the date of enactment of the Housing Act of 1964, shall provide for a single interest rate which shall be applicable also to future amendments of the contract which provide additional funds thereunder, and shall further provide for a periodic revision of the interest rate on the balance outstanding or to be outstanding on such loan or advance based on the going Federal rate on the date of such revision: Provided, That any contract for a loan or advance authorized prior to the date of enactment of the Housing Act of 1964 shall be amended (with the first amendment to such contract authorized after the date of enactment of such Act) to provide for such a single interest rate (based on the going Federal rate at the time such amendment is authorized) and for periodic revision thereof." RELOCATION P A Y M E N T S TO DISPLACED PERSONS A N D B U S I N E S S E S

42 USC 14501464.

SEC. 310. (a) Title I of the Housing Act of 1949 is amended by adding at the end thereof the following new section: ((RELOCATION "SEC. 114. (a) Notwithstanding any other provision of this title, an urban renewal project may include the making of payments as prescribed in this section to displaced individuals, families, business concerns, and nonprofit organizations; and any contract for financial assistance under this title shall provide that the capital grant otherwise payable for the project shall be increased by an amount equal to such payments and that no part of the amount oi such payments shall be required to be contributed as part of the local grant-in-aid. As used in this section, 'displaced' refers to displacement from an urban renewal area made necessary by (1) the acquisition of real property by a local public agency or by any other public body, (2) code enforcement activities undertaken in connection with an urban renewal project, or (3) a program of voluntary rehabilitation of buildings or other improvements in accordance with an urban renewal plan. " (b) A local public agency may pay to any displaced business concern or nonprofit organization— "(1) its reasonable and necessary moving expenses and any actual direct losses of property except goodwill or profit (which

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