Page:United States Statutes at Large Volume 97.djvu/1233

 PUBLIC LAW 98-181—NOV. 30, 1983 97 STAT. 1201 "(B) grant assistance for any structure shall not exceed 50 per centum of the total costs associated with the rehabilitation or development of that structure, as determined by the Secretary, except that where the Secretary determines that refinancing costs and the special nature of the project require a greater amount of assistance, the grant amount shall be limited to not to exceed 50 per centum of the development cost including acquisition; "(C) a structure may be assisted under this section only if the development of such structure will not cause the involuntary displacement of very low-income families by families who are not very low-income families; "(D) the owner of each assisted structure agrees— "(i) not to discriminate against prospective tenants on the basis of their receipt of or eligibility for housing assistance under any Federal, State, or local housing assistance pro- gram or, except for a structure for housing for the elderly, on the basis that the tenants have a minor child or children who will be residing with them; and "(ii) not to convert the units to condominium ownership (or in the case of a cooperative, to condominium ownership or any form of cooperative ownership not eligible for assist- ance under this section); during the 20-year period beginning on the date on which the units in the project are available for occupancy; "(E) the owner of each assisted structure agrees that, during the 20-year period beginning on the date on which 50 per centum of the units in the structure are occupied or completed, at least 20 per centum of the units the construction or substan- tial rehabilitation of which is provided for under the application shall be occupied, or available for occupancy by, persons and families whose incomes do not exceed 80 per centum of the area median income; "(F) the structure— "(i) will have a value after rehabilitation or construction that is not more than the amount of a mortgage on the structure that could be insured under section 207 of the National Housing Act; and "(ii) is secured by a mortgage which bears a rate of interest and contains such other terms and conditions as the Secretary determines are reasonable; "(G) the grantee must commence construction or substantial rehabilitation activities not later than 24 months after notice of project selection; and "(H) the State or unit of general local government that receives the assistance certifies to the satisfaction of the Secre- tary that the assistance will be made available in conformity with Public Law 88-352 and Public Law 90-284. "(5) PROJECT SELECTION.— In selecting projects to receive develop- ment grants, the Secretary shall make such selection on the basis of the extent— "(A) of the severity of the shortage of decent rental housing opportunities in the area in which the project or projects are to be located for families and individuals without other reasonable and affordable housing alternatives in the private market; Low-i ncome families, displacement. 12 USC 1713. 42 USC 2000a note; 82 Stat. 73.

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