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12 U.S.C. § 4147 — Funding

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4147 — Funding

The Secretary shall use not more than $25,000,000 of the amounts made available under [section 4124(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4124/a&num=0&edition=prelim) for fiscal year 1993, and not more than $25,000,000 of the amounts made available under [section 4124(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4124/a&num=0&edition=prelim) for fiscal year 1994, to carry out this subchapter. Of any amounts made available to carry out this subchapter in any appropriation Act, 90 percent shall be set aside for use in accordance with [section 4143 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4143&num=0&edition=prelim) and 10 percent shall be set aside for use in accordance with subsection 11 So in original. Probably should be “section”. 4144 of this title.

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Source location: Title 12, Chapter 42, § 4147; chapter-042-low-income-housing-preservation-and-resident-homeownership.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4143 — Grants for building resident capacity and funding predevelopment costs

**(a) In general** Assistance made available under this section shall be used for direct assistance grants to resident organizations and community-based nonprofit housing developers and resident councils to assist the acquisition of specific projects (including the payment of reasonable administrative expenses to participating intermediaries). **(b) Allocation** 30 percent of the assistance made available under this section shall be used for resident capacity grants in accordance with subsection (d). The remainder shall be used for predevelopment grants in connection with specific projects in accordance with subsection (e). **(c) Limitation on grant amounts** A resident capacity grant under subsection (d) may not exceed $30,000 per project and a grant under subsection (e) for predevelopment costs may not exceed $200,000 per project, exclusive of any fees paid to a participating intermediary by the Secretary for administering the program. **(d) Resident capacity grants** (1) **Use** — Resident capacity grants under this subsection shall be available to eligible applicants to cover expenses for resident outreach, incorporation of a resident organization or council, conducting democratic elections, training, leadership development, legal and other technical assistance to the board of directors, staff and members of the resident organization or council. (2) **Eligible housing** — Grants under this subsection may be provided with respect to eligible low-income housing for which the owner has filed a notice of intent under subchapter I of this chapter or title II of the Emergency Low Income Housing Preservation Act of 1987 (pursuant to section 604 of the Cranston-Gonzalez National Affordable Housing Act). **(e) Predevelopment grants** (1) **Use** — Predevelopment grant

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4147 — Funding

Page 1618 TITLE 12—BANKS AND BANKING § 4146 1 So in original. Probably should be ‘‘section’’. (Pub. L. 100–242, title II, § 255, as added Pub. L. 102–550, title III, § 312, Oct. 28, 1992, 106 Stat. 3767.) Editorial Notes REFERENCES IN TEXT This title, referred to in subsec. (b)(2), means title II of Pub. L. 100–242, as amended by Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249, known as the Low-Income Housing Preservation and Resident Home- ownership Act of 1990, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables. The Emergency Low Income Housing Preservation Act of 1987, referred to in subsec. (b)(2), is title II of Pub. L. 100–242, Feb. 5, 1988, 101 Stat. 1877, which was classified principally as a note under section 1715l of this title. Title II of Pub. L. 100–242 was amended gen- erally by Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249, and is now known as the Low-Income Housing Preservation and Resident Homeownership Act of 1990, which is classified principally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 4101 of this title and Tables. § 4146. Definitions For purposes of this subchapter— (1) the term ‘‘community-based nonprofit housing developer’’ means a nonprofit commu- nity development corporation that— (A) has been classified by the Internal Rev- enue Service as an exempt organization under section 501(c)(3) of title 26; (B) has been in existence for at least 2 years prior to the date of the grant applica- tion; (C) has a record of service to low- and mod- erate-income people in the community in which the

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