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

Page 1616 TITLE 12—BANKS AND BANKING § 4143 1 So in original. Probably should be ‘‘subsection’’. 1 See References in Text note below. the Low-Income Housing Preservation and Resident Homeownership Act of 1990, which is classified prin- cipally 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. § 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 resi- dent organizations and community-based non- profit housing developers and resident councils to assist the acquisition of specific projects (in- cluding the payment of reasonable administra- tive expenses to participating intermediaries). (b) Allocation 30 percent of the assistance made available under this section shall be used for resident ca- pacity grants in accordance with subsection (d). The remainder shall be used for predevelopment grants in connection with specific projects in ac- cordance 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 sub- section shall be available to eligible appli- cants 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 di- rectors, staff and members of the resident or- ganization or council. (2) Eligible housing Grants under this subsection may be pro- vided 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 Afford- able Housing Act). (e) Predevelopment grants (1) Use Predevelopment grants under this sub- section shall be made available to community- based nonprofit housing developers and resi- dent councils to cover the cost of organizing a purchasing entity and pursuing an acquisition, including third party costs for training, devel- opment consulting, legal, appraisal, account- ing, environmental, architectural and engi- neering, application fees, and sponsor’s staff and overhead costs. (2) Eligible housing Such grants may only be made available with respect to any eligible low-income hous- ing project for which the owner has filed an initial notice of intent to transfer the housing to a qualified purchaser in accordance with section 4110 of this title, or has filed a notice of intent and entered into a binding agreement to sell the housing to a resident organization or nonprofit organization. (3) Phase-in of grant payments Grant payments under this subsection shall be made in phases, based on performance benchmarks established by the Secretary in consultation with intermediaries selected under section 4145(b) of this title. (f) Grant applications Grant applications for assistance under sub- sections (d) and (e) shall be received monthly on a rolling basis and approved or rejected on at least a quarterly basis by intermediaries se- lected under section 4145(b) of this title. (g) Appeal If an application for assistance under sub- sections 1 (d) or (e) is denied, the applicant shall have the right to appeal the denial to the Sec- retary and receive a binding determination within 30 days of the appeal. (Pub. L. 100–242, title II, § 253, as added Pub. L. 102–550, title III, § 312, Oct. 28, 1992, 106 Stat. 3766.) Editorial Notes REFERENCES IN TEXT Title II of the Emergency Low Income Housing Pres- ervation Act of 1987, referred to in subsec. (d)(2), prob- ably means title II of Pub. L. 100–242, Feb. 5, 1988, 102 Stat. 1877, prior to being amended generally by Pub. L. 101–625, § 601(a), which was known as the Emergency Low Income Housing Preservation Act of 1987 and which was classified principally as a note under section 1715l of this title. Title II of Pub. L. 100–242 was amend- ed generally by Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4249, and is now known as the Low-In- come Housing Preservation and Resident Homeowner- ship 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. Section 604 of the Cranston-Gonzalez National Afford- able Housing Act, referred to in subsec. (d)(2), is section 604 of Pub. L. 101–625, which is set out as a note under section 4101 of this title. § 4144. Grants for other purposes The Secretary may provide grants under this subchapter— (1) to resident-controlled or community- based nonprofit organizations with experience in resident education and organizing for the purpose of conducting community, city or county wide outreach and training programs to identify and organize residents of eligible low-income housing; and (2) to State and local government agencies and nonprofit intermediaries for the purpose of carrying out such activities as the Sec- retary deems appropriate to further the pres- ervation program established under this title.1 (Pub. L. 100–242, title II, § 254, as added Pub. L. 102–550, title III, § 312, Oct. 28, 1992, 106 Stat. 3767.)