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12 U.S.C. § 1715v — New technologies in the development of housing for lower income families
Federal law — U.S. Code and appendices · legal_authorities
**(a) Institution of program; assistance to mobile home buyers** In order to encourage the use of new housing technologies in providing decent, safe, and sanitary housing for lower income families; to encourage large-scale experimentation in the use of such technologies; to provide a basis for comparison of such technologies with existing housing technologies in providing such housing; and to evaluate the effect of local housing codes and zoning regulations on the large-scale use of new housing technologies in the provision of such housing, the Secretary of Housing and Urban Development (hereinafter referred to as the “Secretary”) shall institute a program under which qualified organizations, public and private, will submit plans for the development of housing for lower income families, using new and advanced technologies, on Federal land which has been made available by the Secretary for the purposes of this section, or on other land where (1) local building regulations permit the construction of experimental housing, or (2) State or local law permits variances from building regulations in the construction of experimental housing for the purpose of testing and developing new building technologies.
**(b) Approval of plans utilizing new housing technologies; considerations** The Secretary shall approve not more than five plans utilizing new housing technologies which are submitted to him pursuant to the program referred to in subsection (a) and which he determines are most promising in furtherance of the purposes of this section. In making such determination the Secretary shall consider—
(1) the potential of the technology employed for producing housing for lower income families on a large scale at a moderate cost;
(2) the extent to which the plan envisages environmen
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Source location: Title 12, Chapter 13, § 1715v; chapter-013-national-housing.md
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**(a) Institution of program; assistance to mobile home buyers** In order to encourage the use of new housing technologies in providing decent, safe, and sanitary housing for lower income families; to encourage large-scale experimentation in the use of such technologies; to provide a basis for comparison of such technologies with existing housing technologies in providing such housing; and to evaluate the effect of local housing codes and zoning regulations on the large-scale use of new housing technologies in the provision of such housing, the Secretary of Housing and Urban Development (hereinafter referred to as the “Secretary”) shall institute a program under which qualified organizations, public and private, will submit plans for the development of housing for lower income families, using new and advanced technologies, on Federal land which has been made available by the Secretary for the purposes of this section, or on other land where (1) local building regulations permit the construction of experimental housing, or (2) State or local law permits variances from building regulations in the construction of experimental housing for the purpose of testing and developing new building technologies.
**(b) Approval of plans utilizing new housing technologies; considerations** The Secretary shall approve not more than five plans utilizing new housing technologies which are submitted to him pursuant to the program referred to in subsection (a) and which he determines are most promising in furtherance of the purposes of this section. In making such determination the Secretary shall consider—
(1) the potential of the technology employed for producing housing for lower income families on a large scale at a moderate cost;
(2) the extent to which the plan envisages environmental quality;
(3) the possibility of mass production of the technology; and
(4) the financial soundness of the organization submitting the plan, and the ability of such organization, alone or in combination with other organizations, to produce at least one thousand dwelling units a year utilizing the technology proposed.
**(c) Number of dwelling units to be constructed for each type of technology; evaluation of projects** In approving projects for mortgage insurance under [section 1715x(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1715x/a/2&num=0&edition=prelim), the Secretary shall seek to achieve the construction of at least one thousand dwelling units a year over a five-year period for each of the various types of technologies proposed in approved plans under subsection (b). The Secretary shall evaluate each project with respect to which assistance is extended pursuant to this section with a view to determining (1) the detailed cost breakdown per dwelling unit, (2) the environmental quality achieved in each unit, and (3) the effect which local housing codes and zoning regulations have, or would have if applicable, on the cost per dwelling unit.
**(d) Transfer of surplus property** Notwithstanding the provisions of chapters 1 to 11 of title 40 and division C (except sections 3302, 3307(e), 3501(b), 3509, 3906, 4710, and 4711) of subtitle I of title 41, any land which is excess property within the meaning of chapters 1 to 11 of title 40 and division C (except sections 3302, 3307(e), 3501(b), 3509, 3906, 4710, and 4711) of subtitle I of title 41 and which is determined by the Secretary to be suitable in furtherance of the purposes of this section may be transferred to the Secretary upon his request.
**(e) Report of findings; legislative recommendations** The Secretary shall, at the earliest practicable date, report his findings with respect to projects assisted pursuant to this section (including evaluations of each such project in accordance with subsection (c)), together with such recommendations for additional legislation as he determines to be necessary or desirable to expand the available supply of decent, safe, and sanitary housing for lower income families through the use of technologies the efficacy of which has been demonstrated under this section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Purpose** The purpose of this section is to enable elderly persons to live with dignity and independence by expanding the supply of supportive housing that—
(1) is designed to accommodate the special needs of elderly persons; and
(2) provides a range of services that are tailored to the needs of elderly persons occupying such housing.
**(b) General authority** The Secretary is authorized to provide assistance to private nonprofit organizations and consumer cooperatives to expand the supply of supportive housing for the elderly. Such assistance shall be provided as (1) capital advances in accordance with subsection (c)(1), and (2) contracts for project rental assistance in accordance with subsection (c)(2). Such assistance may be used to finance the construction, reconstruction, or moderate or substantial rehabilitation of a structure or a portion of a structure, or the acquisition of a structure, to be used as supportive housing for the elderly in accordance with this section. Assistance may also cover the cost of real property acquisition, site improvement, conversion, demolition, relocation, and other expenses that the Secretary determines are necessary to expand the supply of supportive housing for the elderly.
**(c) Forms of assistance**
(1) **Capital advances** — A capital advance provided under this section shall bear no interest and its repayment shall not be required so long as the housing remains available for very low-income elderly persons in accordance with this section. Such advance shall be in an amount calculated in accordance with the development cost limitation established in subsection (h).
(2) **Project rental assistance** — Contracts for project rental assistance shall obligate the Secretary to make monthly payments to cover any part of t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1715g
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement** Except as provided in subsection (b) and notwithstanding any other provision of this chapter, no mortgage covering new or rehabilitated multifamily housing or a property or project described in subchapter IX–B shall be insured under this chapter unless the mortgagor has agreed (A) to certify, upon completion of the physical improvements on the mortgaged property or project and prior to final endorsement of the mortgage, either (i) that the approved percentage of actual cost (as those terms are herein defined) equaled or exceeded the proceeds of the mortgage loan or (ii) the amount by which the proceeds of the mortgage loan exceeded such approved percentage of actual cost, as the case may be, and (B) to pay forthwith to the mortgagee, for application to the reduction of the principal obligation of such mortgage, the amount, if any, certified to be in excess of such approved percentage of actual cost. Upon the Secretary’s approval of the mortgagor’s certification as required hereunder, such certification shall be final and incontestable, except for fraud or material misrepresentation on the part of the mortgagor.
**(b) Exemption for certain projects assisted with low-income housing tax credit** In the case of any mortgage insured under any provision of this subchapter that is executed in connection with the construction, rehabilitation, purchase, or refinancing of a multifamily housing project for which equity 11 So in original. Probably should be followed by “is”. provided through any low-income housing tax credit pursuant to [section 42 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section42&num=0&edition=prelim), if the Secretary determines at the time of issuance of the firm commitment for insurance that the rat
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1732
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Federal law — U.S. Code and appendices · legal_authorities
Page 640
TITLE 12—BANKS AND BANKING
§ 1715v
1 See References in Text note below.
made pursuant to such subsection, and added pars. (2)
and (3).
Subsecs. (c), (d). Pub. L. 96–399 added subsecs. (c) and
(d).
1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com-
missioner’’ wherever appearing.
1964—Pub. L. 88–560 authorized the Commissioner to
acquire the loan and security notwithstanding the fact
that he has previously approved a request of the mort-
gagee for an extension of the time for curing the de-
fault and of the time for commencing foreclosure pro-
ceedings or for otherwise acquiring title to the mort-
gaged property or has approved a modification of the
mortgage for the purpose of changing the amortization
provisions by recasting the unpaid balance and sub-
stituted provisions for acquisition of the loan and secu-
rity upon payment of the insurance benefits in an
amount equal to the unpaid principal balance of the
loan plus any unpaid mortgage interest plus reimburse-
ment for such costs and attorney’s fees as the Commis-
sioner finds were properly incurred in connection with
the defaulted mortgage and its assignment to the Com-
missioner for former provision for such acquisition
upon issuance to the mortgagee of debentures having a
total face value equal to the unpaid principal balance
of the loan plus any accrued interest.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by Pub. L. 104–99 applicable with respect
to mortgages insured under this chapter that are exe-
cuted before, on, or after Oct. 1, 1997, see section 407(c)
of Pub. L. 104–99, as amended, set out as a note under
section 1710 of this title.
SAVINGS PROVISION
Pub. L. 104–134, title I, § 101(e) [title II, § 221(b)(1)],
Apr. 26, 1996, 110
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