chieving these result in Sec. 204.-We favor the increase in mortgage ratios on nonowner occ
units rehabilitated under section 220. We believe the higher ratio w
ould authorize FNMA an incentive to people who have the capability, knowledge, and financi
any Federal instruma sources to undertake rehabilitation but who are interested in this as a bu
rable and urge
that venture rather than for personal living accommodations.
Sec. 205.-We oppose the change in language proposed by this section
it FNMA be authorized would increase the amount of commercial, or nondwelling facilities, perm
teed mortgage. The in multifamily rental projects in urban renewal areas. There is an ad-
would be authorized amount of money available for financing commercial facilities conventi

real estate in any way operations were create t market. Millions of held. The purpose in mate transfer of this D. The effect of the mpletely the nature of

able.

particularly those tions on authorizatis would not be in the e

and in fact is reps rnment programs

Sec. 302.-We believe that the additional grant authority for the urban program is appropriate and support its extension. However, we feel ity for Congress present limit on the percentage of commercial renewals should not be c he entire scope of and we believe the committee should give serious consideration to the ousing grant program to a loan program for commercial and in evice, Congress has the redevelopment. ctivities in the perspe

Sec. 303. We favor the proposal to require a community renewal for towns in excess of 50,000 population.

Sec. 402.-We oppose any change in the formula for annual contribut

iling is to abdicate the public housing. pers of the Appropri

ir job more difficult

Sec. 403.-We oppose increased authorization for annual contributi public housing on the basis of our belief that the rent supplement should be confined to existing low-income people and that this appro

s to your recommend be more economical to the Government and more beneficial to the peo t you should maintan extending the public housing program.

diture of tax dollars ion to a minor amen tes Code which we ask

Title V. We are happy to report to the committee that private funds readily being invested in all types of college and university capital ex More and more lenders are realizing the attractive investment opport loans for on, and off, campus college housing. We now urge you to re

proposed amendment this program toward elation of the subsidized interest rate the ir attachments. It will that the full force of

cal matter but one

ut the nationwide lend

in this field.

Title VIII. We be space acquisition an

al areas authorized and should be dele Ve have discussed the would offer opport

and the HLBB and r prepared statement ckson. ow:)

ORTGAGE BANKEES AS IN DEVELOPMENT ACT

ection 105 providi aced under the m 203 which wou jects for uni

Dai

Xa ei

a a

Te

ing Opr

L

RTMENT

PARTN

A BILL TO ASSIST IN THE PROVISION OF HOUSING FOR LOW-
AND MODERATE-INCOME FAMILIES, TO PROMOTE ORDERLY
URBAN DEVELOPMENT, TO IMPROVE LIVING ENVIRONMENT
IN URBAN AREAS, AND TO EXTEND AND AMEND LAWS RELAT
ING TO HOUSING, URBAN RENEWAL, URBAN MASS TRANSPOR
TATION, AND COMMUNITY FACILITIES

PART 1

46-475

MARCH 25, 26, 29, 30, AND 31, 1965

Printed for the use of the Committee on Banking and Currency

U.S. GOVERNMENT PRINTING OFFICE

WASHINGTON: 1965