Page:United States Statutes at Large Volume 79.djvu/527

 79 STAT.]

PUBLIC LAW 89-117-AUGUST 10, 1965

487

GREATER U S E OF E X I S T I N G H O U S I N G

SEC. 502. Section 10(c) of the United States Housing Act of 1937 is amended by striking out '•And provided' and inserting in lieu thereof '•Provided\ and by inserting before the period at the end thereof the following: ": And provided further. That the amount of the fixed annual contribution which would be established under this Act for a newly constructed project by a public housing agency designed to accommodate a number of families of a given size and kind may be established, as a maximum annual contribution in lieu of any Other guaranteed contribution authorized under this section, for a project by such public housing agency which would provide housing for the comparable number, sizes, and kinds of families through the acquisition, acquisition and rehabilitation, or use under lease of existing structures which are suitable for low-rent housing use and obtainable in the local market".

so stau 892^

I N C R E A S E I N AUTHORIZATION FOR A N N U A L C O N T R I B U T I O N S

SEC. 503. (a) Section 10(e) of the United States Housing Act of 1937 is amended by inserting immediately following "per annum" the nl\f^^\f^l'^'' following: ", which limit shall be increased by $47,000,000 on the date of the enactment of the Housing and LTrban Development Act of 1965, and by further amounts of $47,000,000 on July 1 in each of the years 1966, 1967, and 1968, respectively". REALLOCATION OF U N I T S

SEC. 504. Section 10(e) of the United States Housing Act of 1937 is amended by striking out ^Provided, and inserting in lieu thereof the following: Provided, That subject to any contractual obligation outstanding on the date of the enactment of the Housing and Urban Development Act of 1965, any units not under construction within five years from the date they were reserved to a public housing agency may be reserved, allocated, or placed under contract for annual contributions in any State without limitation as to the aggregate amount of units which may be placed under contract for annual contributions in any one State: Provided furtlier,^\ SALE OF FEDERALLY-OWNED PROJECTS TO PRIVATE PURCHASERS

SEC. 505. The first sentence of section 12(c) of the United States Housing Act of 1937 is amended to read as follows: "The Authority 4° us^c f41*2. may sell a Federal project only to a public housing agency or to a nonprofit body for use as low-rent housing." INCREASE IN PER ROOM LIMITATIONS

SEC. 506. Paragraph (5) of section 15 of the United States Housing Act of 1937 is amended— yil^X'iS^'' (1) by striking out "$2,000" and inserting in lieu thereof 42 USC 14*15. "$2,400"; (2) by striking out "$3,000", each place it appears, and inserting in lieu thereof "$3,500"; and (3) by striking out "$3,500" and inserting in lieu thereof "$4,000".

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