42 U.S.C. § 12723 — Coordinated Federal support for housing

Page 8454 TITLE 42—THE PUBLIC HEALTH AND WELFARE § 12723 (10) to leverage those funds insofar as prac- ticable with State and local matching con- tributions and private investment; (11) to establish for each participating juris- diction a HOME Investment Trust Fund with a line of credit for investment in affordable housing, with repayments back to its HOME Investment Trust Fund being made available for reinvestment by the jurisdiction; (12) to provide credit enhancement for af- fordable housing by utilizing the capacities of existing agencies and mortgage finance insti- tutions when most efficient and supplementing their activities when appro- priate; and (13) to assist very low-income and low-in- come families to obtain the skills and knowl- edge necessary to become responsible home- owners and tenants. (Pub. L. 101–625, title II, § 203, Nov. 28, 1990, 104 Stat. 4095.) § 12723. Coordinated Federal support for housing strategies The Secretary shall make assistance under this subchapter available to participating juris- dictions, through the Office of the Assistant Secretary for Housing-FHA Commissioner of the Department of Housing and Urban Development, to the maximum extent practicable, in coordina- tion with mortgage insurance, rental assistance, and other housing assistance appropriate to the efficient and timely completion of activities under this subchapter. (Pub. L. 101–625, title II, § 204, Nov. 28, 1990, 104 Stat. 4096.) § 12724. Authorization There are authorized to be appropriated to carry out this subchapter $2,086,000,000 for fiscal year 1993, and $2,173,612,000 for fiscal year 1994, of which— (1) not more than $14,000,000 for fiscal year 1993, and $25,000,000 for fiscal year 1994, shall be for community housing partnership activities authorized under section 12773 of this title; and (2) not more than $11,000,000 for fiscal year 1993, and $22,000,000 for fiscal year 1994, shall be for activities in support of State and local housing strategies authorized under part C. (Pub. L. 101–625, title II, § 205, Nov. 28, 1990, 104 Stat. 4096; Pub. L. 102–550, title II, § 201, Oct. 28, 1992, 106 Stat. 3751; Pub. L. 103–120, § 5, Oct. 27, 1993, 107 Stat. 1148.) Editorial Notes AMENDMENTS 1993—Pub. L. 103–120 substituted ‘‘$25,000,000 for fiscal year 1994’’ for ‘‘$14,000,000 for fiscal year 1994’’ in par. (1) and ‘‘$22,000,000 for fiscal year 1994’’ for ‘‘$11,000,000 for fiscal year 1994’’ in par. (2). 1992—Pub. L. 102–550 amended section generally. Prior to amendment, section read as follows: ‘‘There are au- thorized to be appropriated to carry out this sub- chapter $1,000,000,000 for fiscal year 1991, and $2,086,000,000 for fiscal year 1992, of which— ‘‘(1) not more than $14,000,000 for fiscal year 1991, and $14,000,000 for fiscal year 1992, shall be for com- munity housing partnership activities authorized under section 12773 of this title; and ‘‘(2) not more than $11,000,000 for fiscal year 1991, and $11,000,000 for fiscal year 1992, shall be for activi- ties in support of State and local housing strategies authorized under part C of this subchapter.’’ § 12725. Notice The Secretary shall issue regulations to im- plement the provisions of this subchapter after notice and an opportunity for comment pursu- ant to section 553 of title 5. Such regulations shall become effective not later than 180 days after November 28, 1990. (Pub. L. 101–625, title II, § 206, Nov. 28, 1990, 104 Stat. 4096.) PART A—HOME INVESTMENT PARTNERSHIPS § 12741. Authority The Secretary is authorized to make funds available to participating jurisdictions for in- vestment to increase the number of families served with decent, safe, sanitary, and afford- able housing and expand the long-term supply of affordable housing in accordance with provisions of this part. (Pub. L. 101–625, title II, § 211, Nov. 28, 1990, 104 Stat. 4096.) § 12742. Eligible uses of investment (a) Housing uses (1) In general Funds made available under this part may be used by participating jurisdictions to pro- vide incentives to develop and support afford- able rental housing and homeownership afford- ability through the acquisition, new construc- tion, reconstruction, or moderate or substan- tial rehabilitation of affordable housing, in- cluding real property acquisition, site im- provement, conversion, demolition, and other expenses, including financing costs, relocation expenses of any displaced persons, families, businesses, or organizations, to provide for the payment of reasonable administrative and planning costs, to provide for the payment of operating expenses of community housing de- velopment organizations, and to provide ten- ant-based rental assistance. For the purpose of this part, the term ‘‘affordable housing’’ in- cludes permanent housing for disabled home- less persons, transitional housing, and single room occupancy housing. (2) Preference to rehabilitation A participating jurisdiction shall give pref- erence to rehabilitation of substandard hous- ing unless the jurisdiction determines that— (A) such rehabilitation is not the most cost effective way to meet the jurisdiction’s need to expand the supply of affordable housing; and (B) the jurisdiction’s housing needs cannot be met through rehabilitation of the avail- able stock. The Secretary shall not restrict a partici- pating jurisdiction’s choice of rehabilitation, substantial rehabilitation, new construction,