Summary of the Housing and Urban Development Act of 1968: S. 3497U.S. Government Printing Office, 1968 - 73 pages |
Common terms and phrases
Act to permit adds to title Administration agencies amount annual appropriate approved authorizes the Secretary basic property insurance carry Commissioner contract cooperative corporation cost coverage directs the Secretary District of Columbia effective date eligible established exceed Federal Housing Administration financing fiscal year 1970 flood insurance program FNMA FNMA's GNMA grants guarantee Housing and Urban insurance authority insurance industry interest rate limits loans losses low and moderate lower income families maximum ment million for fiscal mortgage insurance mortgagor National Housing Act necessary nonprofit organization operation participating percent person pool premium rates prescribed private insurance program This section public housing purchase purposes pursuant rehabilitation reinsurance rent supplement residential risk sale or lease Secretary of HUD section 221 section amends section section authorizes section provides statement of record subdivision Subsection tion U.S. district court U.S. Housing Act Urban Development Act urban renewal urban renewal projects
Popular passages
Page 62 - In case any part of the registration statement, when such part became effective, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading...
Page 18 - Title 38 prior to the beginning of construction, 90 per centum) of the appraised value of a property located In an area where the Secretary finds it is not practicable to obtain conformity with many of the requirements essential to the Insurance of mortgages on housing in built-up urban areas...
Page 7 - Secretary finds that the property with respect to which the mortgage is executed is an acceptable risk, giving consideration to the need for providing adequate housing for families of low and moderate income particularly in suburban and outlying areas or small communities...
Page 11 - Secretary is further authorized to insure under this subsection a mortgage given by such purchaser in an amount not exceeding the appraised value of the property at the time of purchase, which value shall be based upon a mortgage amount on which the debt service can be met from the income of the property when operated on a nonprofit basis, after payment of all operating expenses, taxes, and required reserves.
Page 14 - ... aggregating in value at least 80 per centum of the structure's total value. Any such resale shall be made subject to such terms and conditions (including provision for deferment of the required downpayment and for elimination of or adjustments in the required interest payments during a temporary period) as may be necessary to enable the tenants involved to make the purchase without undue financial hardship.
Page 69 - Federal or State instrumentalities, municipal corporate instrumentalities of one or more States, or limited dividend or redevelopment or housing corporations restricted by Federal or State laws or regulations, of State banking or insurance departments as to rents, charges, capital structure, rate of return, or methods of operation...
Page 23 - Secretary, contains a substantial number of structures in need of such repairs and improvements, (B) there is in effect for the locality a workable program meeting the requirements of section 101 (c), and (C) the area is definitely planned for rehabilitation or concentrated code enforcement...
Page 37 - From the sums available therefore for any fiscal year, the Secretary of Health, Education, and Welfare is authorized to make grants to, or enter into contracts with, public or private nonprofit agencies, organizations, and institutions for planning and carrying out communityoriented education programs on drug abuse and drug dependency for the benefit of interested and concerned parents, young persons, community leaders, and other individuals and groups within a community. Such programs may...
Page 59 - ... (3) the sale or lease of any improved land on which there is a residential, commercial, or industrial building, or to the sale or lease of land under a contract obligating the seller to erect such a building...
Page 60 - ... (2) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or (3) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.