42 U.S.C. § 2348 — Priority sale of apartment houses

Page 5593 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 2349 eration the zoning restrictions the new city is likely to enact with respect to those lots. The zoning restrictions to be taken into account at Los Alamos shall be those which the local gov- ernment is likely to enact with respect to those lots. (Aug. 4, 1955, ch. 543, ch. 5, § 57, 69 Stat. 478; Pub. L. 87–719, § 13, Sept. 28, 1962, 76 Stat. 665.) Editorial Notes AMENDMENTS 1962—Subsec. (b). Pub. L. 87–719 inserted provision that zoning restrictions to be taken into account at Los Alamos shall be those which the local government is likely to enact with respect to those lots. Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2348. Priority sale of apartment houses (a) Grantees eligible; priorities; applicability of deduction, financing and indemnity provi- sions The Commission is authorized at Los Alamos to grant to occupants project-connected persons, and persons residing in the community both at the time of offering of an apartment house for sale and for the preceding six months, and to any of the foregoing persons acting together, such priority interests and priority rights for the purchase of the apartment house as the Commission determines to be fair and reason- able: Provided, That a first priority right to pur- chase may be granted only to an occupant or a group of occupants, or an assignee (whose mem- bership or ownership is composed of occupants, or project-connected persons, or persons residing in the community both at the time of offering of an apartment house for sale and for the pre- ceding six months, or any of the foregoing per- sons) of the priority interests of such occupants, who or which has obtained the priority interest of at least 60 per centum of the occupants of the apartment house: Provided further, That a second priority right to purchase may be granted only to an entity whose membership or ownership consists of occupants, or project-connected per- sons, or persons residing in the community both at the time of offering of an apartment house for sale and for the preceding six months, or any of the foregoing persons (provided that such entity has obtained the priority interest of at least one occupant), and whose membership or ownership equals in number, and occupies or agrees to oc- cupy, at least 70 per centum of the housing units in the apartment house. The 15 per centum de- duction specified by section 2325(a) of this title, the deduction provided by section 2326(d) of this title, the financing provisions of section 2362 of this title, and the indemnity provided by sec- tions 2363 to 2366 of this title shall be applicable to such priority sales of apartment houses. Pri- ority interests granted by the Commission under this section shall be transferable as the Commission may by rule or regulation pre- scribe, but no priority right to purchase shall be transferred except as provided by section 2333 of this title. (b) Leasing arrangements by non-participants in apartment house sales; assumption of lessor’s obligations Any occupant who does not participate in the purchase of an apartment house with respect to which a priority right to purchase has been granted shall be entitled, at the time of sale by the Commission, to a lease for occupancy of his housing unit for a period not to exceed fifteen months from the date the property was first of- fered for sale: Provided, That the occupant makes application for such a lease within 30 days of the grant of such priority to purchase. In selling any apartment house with respect to which lease executed under this section is in ef- fect, the Commission is authorized to provide for the purchaser to assume any or all obliga- tions of the lessor. The Commission in such event shall guarantee the lessee’s performance of the lease. (c) Eligibility to participate in priority purchase Persons who have purchased, either individ- ually or jointly with other persons, a single- family house or duplex house (or a single-family unit in a duplex house) at Los Alamos pursuant to a priority right under this chapter shall not be eligible to participate in the priority pur- chase of an apartment house. (d) Rules and regulations The Commission is authorized to prescribe by rule or regulation such other conditions as it may find necessary or desirable for qualification of priority interests and rights for the purchase of an apartment house. (Aug. 4, 1955, ch. 543, ch. 5, § 58, as added Pub. L. 87–719, § 14, Sept. 28, 1962, 76 Stat. 665; amended Pub. L. 90–190, § 1, Dec. 14, 1967, 81 Stat. 575.) Editorial Notes AMENDMENTS 1967—Pub. L. 90–190 redesignated existing provisions as subsec. (a), inserted reference to Los Alamos, in- creased the types of grantees eligible to purchase apartment houses from cooperatives, the entire mem- bership of which is restricted to project-connected per- sons, inserted provisos which altered the priority right to purchase such apartment houses so as to create a first priority and second priority in lieu of the provi- sion that the priority with respect to each cooperative shall terminate within such time as the Commission may prescribe if the cooperative has not obtained 100 per centum initial membership consisting of project- connected persons, struck out definition of ‘‘coopera- tive’’ as used in this section as a corporation or a trust of the character described in section 1715e(a)(1) of title 12, and added subsecs. (b) to (d). Statutory Notes and Related Subsidiaries TRANSFER OF FUNCTIONS Atomic Energy Commission abolished and functions transferred by sections 5814 and 5841 of this title. See also Transfer of Functions notes set out under those sections. § 2349. Hanford project; disposal of property In addition to any other authority the Com- mission may have, the Commission is author-