Page:United States Statutes at Large Volume 92 Part 2.djvu/837

 PUBLIC LAW 95-557—OCT. 31, 1978

92 STAT. 2117

POWERS AND DUTIES

SEC. 606. (a)(1) The corporation shall continue the work of the Housing services Urban Reinvestment Task Force in establishing neighborhood hous- programs, ing services programs in neighborhoods throughout the United States, continuation. supervising their progress, and providing them with grants and tech- 42 USC 8105. nical assistance. For the purpose of this paragraph, a neighborhood housing services program may involve a partnership of neighborhood residents and representatives of local governmental and financial institutions, organized as a State-chartered non-profit corporation, working to bring about reinvestment in one or more neighborhoods through a program of systematic housing inspections, increased public investment, increased private lending, increased resident investment, and a revolving loan fund to make loans available at flexible rates and terms to homeowners not meeting private lending criteria. (2) The corporation shall continue the work of the Urban Reinvest- Preservation ment Task Force in identifying, monitoring, evaluating, and providing projects. grants and technical assistance to selected neighborhood preservation projects which show promise as mechanisms for reversing neighborhood decline and improving the quality of neighborhood life. (3) The corporation shall experimentally replicate neighborhood preservation projects which have demonstrated success, and after creating reliable developmental processes, bring the new programs to neighborhoods throughout the United States which in the judgment of the corporation can benefit therefrom, by providing assistance in organizing programs, providing grants in partial support of program costs, and providing technical assistance to ongoing programs. (4) The corporation shall continue the work of the Urban Reinvestment Task Force in supporting Neighborhood Housing Services of America, a nonprofit corporation established to provide services to local neighborhood housing services programs, with support which may include technical assistance and grants to expand its national loan purchase pool and may contract with it for services which it can perform more efficiently or effectively than the corporation. (5) The corporation shall, in making and providing the foregoing grants and technical and other assistance, determine the reporting and management restrictions or requirements with which the recipients of such grants or other assistance must comply. In making such determinations, the corporation shall assure that recipients of grants and other assistance make available to the corportion such information as may be necessary to determine compliance with applicable Federal laws. (b) To carry out the foregoing purposes and engage in the foregoing activities, the corporation is authorized— ^1) to adopt, alter, and use a corporate seal; (2) to have succession until dissolved by Act of Congress; (3) to make and perform contracts, agreements, and commitments; (4) to sue and be sued, complain and defend, in any State, Federal, or other court; (5) to determine its necessary expenditures and the manner in which the same shall be incurred, allowed, and paid, and appoint, employ, and fix and provide for the compensation of consultants, without regard to any other law, except as provided in section 608(d); (6) to settle, adjust, and compromise, and with or without compensation or bene6t to the corporation to release or waive in whole

�