Page:United States Statutes at Large Volume 97.djvu/1234

 97 STAT. 1202 PUBLIC LAW 98-181—NOV. 30, 1983 42 USC 1437f. Violation, payment. "(B) of non-Federal public and private financial or other contributions that reduce the amount of assistance necessary under this section; "(C) to which the project or projects contribute to neighbor- hood development and mitigate displacement; "(D) to which the applicant has established a satisfactory record of performance in meeting assisted housing needs and has the capacity to undertake the program in a timely manner; "(E) to which the assistance requested will provide the maxi- mum number of units for the least cost to the Federal Govern- ment, taking into consideration the extent to which assistance provided will be recaptured and cost differences among differ- ent areas, among financing alternatives, and among the types of projects and tenants being served; "(F) to which the grantee will establish a mechanism to assure the maintenance of affordable rentals for lower income families; "(G) to which the applicant has demonstrated the financial feasibility of the proposed program, including the availability of non-Federal and private resources; and "(H) to which an equitable share of the development grant funds under this section will be used to assist in the provision of housing for families, including large families with children. "(6) PRIORITIES.— In selecting projects for grants under this subsec- tion, the Secretary shall give a priority to proposals involving projects— "(A) which exceed the minimum requirements of paragraph (4)(E); and "(B) in areas where the waiting lists for housing assistance are relatively long and where families holding certificates under section 8 require an excessive length of time to find housing. "(7) ENFORCEMENT OF PROGRAM REQUIREMENTS.— (A) The grantee shall take appropriate legal action to enforce compliance with the requirements of this subsection by the owner of any assisted prop- erty or his or her successors in interest during the 20-year period beginning on the date on which 50 per centum of the units are occupied or are completed. For any violation of such agreements, the owner or his or her successors in interest shall make a payment to the grantee of an amount that equals the total amount of assistance provided under this title with respect to such project, plus interest thereon (without compounding), for each year and any fraction thereof that the assistance was outstanding, at a rate determined by the Secretary taking into account the average yield on outstanding marketable long-term obligations of the United States during the month preceding the date on which the assistance was made avail- able. The amount of such assistance (and accrued interest) which is required to be repaid shall be reduced by 10 per centum for each full year in excess of 10 years which intervened between the commence- ment of the period and the violation. Any amounts recovered by the grantee shall be used to furnish assistance under this section. "(B) Notwithstanding any other provision of law, any assistance provided under this subsection shall constitute a debt, which is payable in the case of any failure to carry out the agreements, and shall be secured by the security instruments provided by the owner to the grantee.

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