Housing Act of 1949 INCONTESTABLE OBLIGATION IN PRIVATE FINANCING 1 In Provided, That, if at any time during the under- This proviso was added by sec. 507(a)(2), Housing and Urban Development Act of 1968, Public Law 90-448, approved August 1, 1968, 82 Stat. 476, 522. 522. Sec. 507(b) provided that loan contracts outstanding on the date of its enactment "may be amended to incorporate the provisions authorized by the amendments contained in subsection (a) without regard to the proviso in section 110(g) of the Housing Act of 1949". (see also footnote 2, supra on page 12). 2 Sec. 302(a), Housing Act of 1961, Public Law 87-70, approved June 30, 1961, 75 Stat. 149, 166, added this sentence. Housing Act of 1949 FEASIBILITY PLANNING (a)1 The 2 The Secretary may make advances of funds to local public agencies for surveys of urban areas to determine whether the undertaking of urban renewal projects therein may be feasible and for surveys and plans for urban renewal projects which may be assisted under this title, including, but not limited to, (1) plans for carrying out a program of voluntary repair and rehabilitation of buildings and improvements, (ii) plans for the enforcement of State and local laws, codes, and regulations relating to the use of land and the use and occupancy of buildings and improvements, and to the compulsory repair, rehabilitation, demolition, or removal of buildings and improvements, and (iii) appraisals, title searches, and other preliminary work necessary to prepare for the acquisition of land in connection with the undertaking of such projects. The contract for any such advance of funds shall be made upon the condition that such advance of funds shall be repaid, with interest at not less than the applicable going Federal rate, out of any moneys which become available to the local public agency for the undertaking of the project involved. No contract for any such advances of funds for surveys and plans for urban renewal projects which may be assisted under this title shall be made unless the governing body of the locality involved has by resolution or ordinance approved the undertaking of such surveys and plans and the submission by the local public agency of an application lAs originally enacted subsection (d) read as follows: "(a) The Administrator may make advances of funds to local public agencies for surveys and plans in preparation of projects which may be assisted under this title, and the contracts for such advances of funds may be made upon the condition that such advances of funds shall be repaid, with interest at not less than the applicable going Federal rate, out of any moneys which become available to such agency for the undertaking of the project or projects involved". Sec. 304, Housing Act of 1954, Public Law 83-560, approved Aug. 2, 1954, 68 Stat. 590, 624, amended subsec. (d) to read as set forth in the text except for subsequent amendments noted by footnotes indicated in the text. 2Sec. 303(b), Housing Act of 1956, Public Law 1020, 84th Congress, approved Aug. 7, 1956, 70 Stat. 1091, 1100, inserted "surveys of urban areas to determine whether the undertaking of urban renewal projects therein may be feasible and for". Housing Act of 1949 GENERAL for such advance of funds. Notwithstanding section In order to facilitate proper preliminary 1This sentence was added by sec. 301, Housing Act of 1956, Public Law 1020, 84th Congress, approved Aug. 7, 1956, 70 Stat. 1091, 1097. The first two sentences of this paragraph were added by sec. 303, Housing and Urban Development Act of 1965, Public Law 89-117, approved August 10, 1965, 79 Stat. 451, 475, in lieu of the following sentence: "In order to facilitate proper preliminary planning for the attainment of the urban renewal objectives of this title, the Administrator may also make advances of funds (in addition to those authorized above) to local public agencies for the preparation of General Neighborhood Renewal Plans (as herein defined) for urban renewal areas of such scope that the urban renewal activities therein may have to be carried out in stages, consistent with the capacity and resources of the respective local public agency, over an estimated period of not more than ten years. This paragraph and the remainder of this subsection were added by sec. 303(a), Housing Act of 1956, Public Law 84-1020, approved August 7, 1956, 70 Stat. 1091, 1099. Housing Act of 1949 activities in the urban renewal area or areas may have to be initiated in stages, consistent with the capacity and resources of the respective local public agency or agencies, over an estimated period of not more than eight years. No contract for advances for the preparation of a General Neighborhood Renewal Plan may be made unless the Secretary has determined that: (1)1 in the interest of sound community planning, it is desirable that the urban renewal activities proposed for the area be planned in their entirety; (2) the local public agency proposes to undertake promptly an urban renewal project embracing at least 10 per centum of such area, upon completion of the General Neighborhood Renewal Plan and the preparation of an urban renewal plan for such project; and (3) the governing body of the locality has by resolution or ordinance (1) approved the undertaking of the General Neighborhood Renewal Plan and the submission of an application for such advance and (ii) represented that such plan will be used to the fullest extent feasible as a guide for the provision of public improvements in such area and that the plan will be considered in formulating codes and other regulatory measures affecting property in the area and in undertaking other local governmental activities pertaining to the development, redevelopment, rehabilitation, and conservation of the area. The contract for any such advance of funds for 1 Paragraph (1) was amended to read as set forth in text by sec. 303(2) of the Housing and Urban Development Act of 1965, Public Law 89-117, approved August 10, 1965, 79 Stat. 451, 475. The original paragraph numbered (1) was added by sec. 303(a), Housing Act of 1956, Public Law 84-1020, approved August 7, 1956, 70 Stat. 1091, 1099, and read as follows: "(1) in the interest of sound community planning, it is desirable that the urban renewal area be planned for urban renewal purposes in its entirety; ". Housing Act of 1949 to the local public agency for the undertaking of (e) Thel total amount of loan contracts out standing at any one time under this title shall not 1Subsec. (e) was amended to read as set forth in the text by sec. 404, Housing Act of 1959, Public Law 86-372, approved Sept. 23, 1959, 73 Stat. 654, 671. As originally enacted subsection (e) read as follows: "(e) To obtain funds for loans under this title, the Administrator, on and after July 1, 1949, may, with the approval of the President, issue and have outstanding at any one time notes and obligations for purchase by the Secretary of the Treasury in an amount not to exceed $25,000,000, which limit on such outstanding amount shall be increased by $225,000,000 on July 1, 1950, and by further amounts of $250,000,000 on July 1 in each of the years 1951, 1952, and 1953, respectively: Provided, That (subject to the total authorization of not to exceed $1,000,000,000) such limit, and any such authorized increase therein, may be increased, at any time or times, by additional amounts aggregating not more than $250,000,000 upon a determination by the President, after receiving advice from the Counsel of Economic Advisers as to the general effect of such increase upon the conditions in the building industry and upon the national economy, that such action is in the public interest. Executive Order 10530, issued May 10, 1954, 19 Fed. Reg. 2709, empowered the Housing and Home Finance Administrator (now Secretary of Housing and Urban Development) to issue obligations to the Treasury without the approval, ratification, or other action of the President, as provided at that time in subsec. (e). |