Page:United States Statutes at Large Volume 88 Part 1.djvu/715

 88

STAT.]

PUBLIC LAW

9 3 - 3 8 3 - A U G. 22, 1974

671

limits on such lending authority established for such year in appropriation Acts." (e) Section 202(a) of such Act is amended by adding at the end ^2 USC i7oiq. thereof the following new paragraph: "(5) To the maximum extent practicable, the Secretary shall use the services and facilities of the private mortgage industry in servicing mortgage loans made under this section." (f) Section 202(d)(8) of such Act is amended by inserting immediately after "families" the following: "residing in the project or in the area". (g)(1) I n determining the feasibility and marketability of a proj- ^^^^^ ^^^ i7oiq ect under section 202 of the Housing Act of 1959, the Secretary shall consider the availability of monthly assistance payments pursuant to section 8 of the United States Housing Act of 1937 with respect to such Ante. p. 662. a project. (2) The Secretary shall insure that with the original approval of a project authorized pursuant to section 202 of the Housing Act of 1959, and thereafter at each annual revision of the assistance contract under section 8 of the United States Housing Act of 1937 with respect to units in such project, the project will serve both low- and moderateincome families in a mix which he determines to be appropriate for the area and for viable operation of the project; except that the Secretary shall not permit maintenance of vacancies to await tenants of one income level where tenants of another income level are available. S I N G L E - F A M I L T MORTGAGE ASSISTANCE

SEC. 211. (a) Section 235 of the National Housing Act is amended— (1) by striking out "and by $200,000,000 on July 1, 1971" in subsection (h)(1) and inserting in lieu thereof "by $200,000,000 on July 1, 1971, and by such sums as may be approved in appropriation Acts after June 30, 1974, and prior to July 1, 1976"; (2) by adding at the end of subsection (h)(1) the following: "Upon the expiration of one year following the date of enactment of the Housing and Community Development Act of 1974, the Secretary shall not enter into new contracts for assistance payments under this section utilizing authority approved in appropriation Acts prior to July 1, 1974."; (3) by striking out paragraph (2) of subsection (h) and inserting in lieu thereof the following: "(2) Assistance payments under this section may be made only with respect to a family whose income at the time of initial occupancy does not exceed 80 per centum of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families, except that the Secretary may establish income ceilings higher or lower than 80 per centum of the median for the area on the basis of his findings that such variations are necessary because of prevailing levels of construction costs, unusually high or low median family incomes, or other factors."; (4) by striking out "prior to July 1, 1972" in subsection (h)(3) (B) and inserting in lieu thereof "on or after July 1, 1969"; (5) by inserting after "mortgage" in the first sentence of subsection (i)(l) the following: "(including advances with respect to property construction or rehabilitation pursuant to a self-help program)"; (6) by striking out paragraph (3)(C) of subsection (i) and inserting in lieu thereof the following: " (C) be executed by a mortgagor who shall have paid in cash or its equivalent, on account of the property, at least an

12 USC 1715z.

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