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EXCERPT FROM HOUSING AND URBAN-RURAL RECOVERY ACT OF 1983
[Public Law 98-181; 97 Stat. 1153, 1238; 12 U.S.C. 17019-56)
CANCELLATION OF DEBT OWED THE TREASURY AND LIQUIDATION OF
NEW COMMUNITIES PROGRAM SEC. 474. (a) In order to provide for the management and orderly liquidation of the assets, and discharge the liabilities, acquired or incurred in connection with the new communities program authorized pursuant to title IV of the Housing and Urban Development Act of 1968 and title VII of the Housing and Urban Development Act of 1970 (hereafter referred to in this section as “title IV” and "title VII”, respectively), the liquidation of the new communities program shall be carried out pursuant to the provisions of law applicable to the revolving fund (liquidating programs) established pursuant to title II of the Independent Offices Appropriations Act, 1955, upon the transfer by the Secretary of Housing and Urban De velopment (hereafter in this section referred to as the "Secretary'') of the assets and liabilities of the fund authorized under section 717 of title VII to such revolving fund, as required in title I of the Department of Housing and Urban Development-Independent Agencies Appropriation Act, 1984. The Secretary shall report to the Congress not less than sixty days prior to taking any action with respect to the disposition of real property (other than a purchase money mortgage) which involves any further potential liability of or assistance from the Department of Housing and Urban Development with respect to any property so transferred.
(b) In carrying out the purposes of subsection (a), all moneys in the revolving fund (liquidating programs) shall be available for necessary administrative and other expenses of servicing and liquidating obligations guaranteed pursuant to section 403 and section 713 of title IV and title VII, respectively, including costs of services (including legal services) performed on a contract or fee basis, and to discharge any other liability acquired or incurred in connection with the new communities program. Notwithstanding any other provision of law relating to the acquisition, handling, improvement, or disposal of real and other property by the United States, the Secretary of Housing and Urban Development shall also have power, for the protection of the interests of the revolving fund (liquidating programs), to pay out of any moneys in such fund all expenses or charges in connection with the acquisition, handling, improvement, or disposal or any property, real or personal, acquired by the Secretary either prior or subsequent to the date of the enactment of this Act as a result of recoveries under security, subrogation, or other rights in connection witht the new communities program.
(c) After making the transfer required in title I of the Department of Housing and Urban Development-Independent Agencies Appropriation Act, 1984, the Secretary of Housing and Urban Development may issue obligations to the Secretary of the Treasury in an amount sufficient to enable the Secretary of Housing and Urban Development to satisfy any guarantee made pursuant to section 403 or 713 of title IV or title VII, respectively, and otherwise carry out the functions authorized by this section. The obligations issued under this subsection shall have such maturities and bear such rate or rates of interest as shall be determined by the Secretary of the Treasury. The Secretary of the Treasury is authorized and directed to purchase any obligations so issued, and for that purpose the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under such chapter are extended to include purchases of obligations issued under this subsection.
(d) Upon the transfer required in title I of the Department of Housing and Urban Development-Independent Agencies Appropriation Act, 1984, each obligation issued by the Secretary of Housing and Urban Development to the Secretary of the Treasury pursuant to section 407(a) or 717(b) of title IV or title VII, respectively, together with any promise to repay the principal and unpaid interest which has accrued on each obligation, and any other term or condition specified by each such obligation, is canceled.
(e) Title IV, except for sections 408, 411, 413, 414, and 416, and part B of title VII, except for sections 724, 725, 726, and subsections (b) through (e) of section 727, are hereby repealed. Section 717 of title VII shall remain in effect until completion of the transfer required in title I of the Department of Housing and Urban Development-Independent Agencies Appropriation Act, 1984. * * * Any actions taken, prior to repeal, under the authority of any of the sections which are repealed by this section shall continue to be valid. Nothing in this subsection shall impair the validity of any guarantees which have been made pursuant to title IV or title VII and any such guarantees shall continue to be governed by the provisions of the title IV or title VII, as applicable, as they existed immediately before the date of the enactment of this Act.
Approved November 30, 1983.
EXCERPT FROM HOUSING AND URBAN-RURAL RECOVERY ACT OF 1983
(Public Law 98-181; 97 Stat. 1153, 1172; 42 U.S.C. 5318 note)
NEIGHBORHOOD DEVELOPMENT DEMONSTRATION Sec. 123. (a) For the purposes of this section:
(1) The term "eligible neighborhood development activity" means
(A) creating permanent jobs in the neighborhood;
(B) establishing or expanding businesses within the neighborhood;
(C) developing, rehabilitating, or managing neighborhood housing stock;
(D) developing delivery mechanisms for essential services that have lasting benefit to the neighborhood; or
(E) planning, promoting, or financing voluntary neighborhood improvement efforts. (2) The term "eligible neighborhood development organization" means
(A) an entity organized as a private, voluntary, nonprofit corporation under the laws of the State in which it operates;
(B) an organization that is responsible to residents of its neighborhood through a governing body, not less than 51 per centum of the members of which are residents of the area served;
(C) an organization that has conducted business for at least three years prior to the date of application for participation;
(D) an organization that operates within an area that meets the requirements for Federal assistance under section 119 of the Housing and Community Development Act of 1974; and
(E) an organization that conducts one or more eligible neighborhood development activities that have as their primary beneficiaries low- and moderate-income persons, as defined in section 102(
a2) of the Housing and Community Development Act of 1974. (3) The term "Secretary" means the Secretary of Housing and Urban Development. (b)(1) The Secretary shall carry out, in accordance with this section, a demonstration program to determine the feasibility of supporting eligible neighborhood development activities by providing Federal matching funds to eligible neighborhood development organizations on the basis of the monetary support such organizations have received from individuals, businesses, and nonprofit or other organizations in their neighborhoods prior to receiving assistance under this section.
(2) The Secretary shall accept applications from eligible neighborhood development organizations for participation in the demonstration program. Eligible organizations may participate in more than one year of the program, but shall be required to submit a new application and to compete in the selection process for each program
year. Not more than 30 per centum of the grants may be for multiyear awards.
(3) From the pool of eligible neighborhood development organizations submitting applications for participation in a given program year, the Secretary shall select participating organizations in an appropriate number through a competitive selection process. To be selected, an applicant shall
(A) have demonstrated measurable achievements in one or more of the activities specified in subsection (a)(1);
(B) specify a business plan for accomplishing one or more of the activities specified in subsection (a)(1); and
(C) specify a strategy for achieving greater long term private sector support. (c) The Secretary shall award grants under this section among the eligible neighborhood development organizations submitting applications for such grants on the basis of
(1) the degree of economic distress of the neighborhood involved;
(2) the extent to which the proposed activities will benefit persons of low and moderate income;
(3) the extent of neighborhood participation in the proposed activities, as indicated by the proportion of the households and businesses in the neighborhood involved that are members of the eligible neighborhood development organization involved; and
(4) the extent of voluntary contributions available for the purpose of subsection (e)(4), except that the Secretary shall waive the requirement of this subparagraph in the case of an application submitted by a small eligible neighborhood development organization, an application involving activities in a very low-income neighborhood, or an application that is espe
cially meritorious. (d) The Secretary shall consult with an informal working group representative of eligible neighborhood organizations with respect to the implementation and evaluation of the program established in this section.
(e)(1) The Secretary shall assign each participating organization a defined program year, during which time voluntary contributions from individuals, businesses, and nonprofit or other organizations in the neighborhood shall be eligible for matching.
(2) Subject to paragraph (3), at the end of each three-month period occurring during the program year, the Secretary shall pay to each participating neighborhood development organization the product of,
(A) the aggregate amount of voluntary contributions that such organization certifies to the satisfaction of the Secretary it received during such three-month period; and
(B) the matching ratio established for such test neighborhoods under paragraph (4). (3) The Secretary shall pay not more than $50,000 under this Act to any participating neighborhood development organization during a single program year.
(4) For purposes of paragraph (2), the Secretary shall, for each participating organization, determine an appropriate ratio by which monetary contributions made to participating neighborhood development organizations will be matched by Federal funds. The highest such ratios shall be established for neighborhoods having the smallest number of households or the greatest degree of economic distress. (5) The Secretary shall insure that
(A) grants and other forms of assistance may be made available under this section only if the application contains a certification by the unit of general local government within which the neighborhood to be assisted is located that such assistance is not inconsistent with the housing and community development plans of such unit, except that the failure of a unit of general local government to respond to a request for a certification within thirty days after the request is made shall be deemed to be a certification; and
(B) eligible neighborhood development activities comply with all applicable provisions of the Civil Rights Act of 1964. (6) To carry out this section, the Secretary
(A) may issue regulations as necessary;
(B) shall utilize, to the fullest extent practicable, relevant research previously conducted by Federal agencies, State and local governments, and private organizations and persons;
(C) shall disseminate information about the kinds of activities, forms of organizations, and fund-raising mechanisms associated with successful programs;
(D) shall undertake any other activity the Secretary deems necessary to carry out this section, which shall include an evaluation and report to Congress on the demonstration and may include the performance of research, planning, and administration, either directly, or when in the Secretary's judgement such activity will be carried out more effectively, more rapidly, or at less cost, by contract or grant; and
(E) may use not more than 5 per centum of the funds appropriated for administrative or other expenses in connection with
the demonstration. (f) The Secretary shall submit to the Congress
(1) not later than three months after the end of each fiscal year in which payments are made under this section, an interim report containing a summary of the activities carried out under this section during such fiscal year and any preliminary findings or conclusions drawn from the demonstration pro
(2) not later than March 15 of the year after the end of the last fiscal year in which such payments are made, a final report containing a summary of all activities carried out under this section, the evaluation required in subsection (eX6XD) and any findings, conclusions, or recommendations for legislation
drawn from the demonstration program. (g) For purposes of carrying out this section, there are authorized to be appropriated not to exceed $2,000,000 for each of the fiscal years 1984 and 1985.
Approved November 30, 1983.