Housing Act of 1949 CODE community at the time of such insurance or commitment:1 1sec. 7(d), Department of Housing and Urban Development Act, Public Law 89-174, approved September 9, 1965, 79 Stat. 667, 670, deleted the second proviso of this section which read: "And provided further, That, notwithstanding any provisions of law which would authorize such delegation or transfer, there shall not be delegated or transferred to any other official (except an officer or employee of the Housing and Home Finance Agency serving as Acting Administrator during the absence or disability of the Administrator or in the event of a vacancy in that office) the final authority vested in the Administrator (i) to determine whether any such workable program meets the requirements of this subsection, (ii) to make the certification that Federal assistance of the types enumerated in this subsection may be made available in such community, or (iii) to determine that the relocation requirements of section 105(c) (10) of this title have been met: Sec. 101(b)(3), Housing Act of 1961, Public Law 87-70, approved June Sec. 301(a), Housing Act of 1964, Public Law 88-560, approved Housing Act of 1949 URBAN RENEWAL WORKABLE 1 housing code. Notwithstanding any other provision (a)2 The Secretary is authorized to establish (e) No loan or grant contract may be entered into by the Secretary for an urban renewal project unless he determines that (1) the workable program for community improvement presented by the locality pursuant to subsection (c) is of sufficient scope and content to furnish a basis for evaluation of the need for the urban renewal project; and (2) such project is in accord with the program. Sec. 302(b), Housing and Urban Development Act of 1965, Public Law 89-117, approved August 10, 1965, 79 Stat. 451, 474, added this sentence. 2Subsec. (d) added by sec. 303, Housing Act of 1954, Public Law, 560, 83rd Congress, approved Aug. 2, 1954, 68 Stat. 590, 624. 3 Sec. 302, Housing Act of 1964, Public Law 88-560, approved Sept. 2, 1964, 78 Stat. 769, 785, inserted "(including rehabilitation projects requiring no additional assistance under this title or self-liquidating redevelopment projects)". Subsection (e) was added by sec. 302 (a) (1), Housing and Urban Development Act of 1965, Public Law 89-117, approved August 10, 1965, 79 Stat. 451, 474. Section 302(a) (2) provided that: "The requirements imposed by the amendment made by paragraph (1) shall not be applicable to any project which received Federal recognition prior to the date of the enactment of this Act.". Housing Act of 1949 TEMPORARY AND DEFINITIVE LOANS Loans SEC. 102 (a) Tol assist local communities in the elimination of slums and blighted or deteriorated or deteriorating areas, in preventing the spread of slums, blight or deterioration, and in providing maximum opportunity for the redevelopment, rehabilitation, and conservation of such areas by private enterprise, the Secretary may make temporary and definitive loans to local public agencies in accordance with the provisions of this title for the undertaking of urban renewal projects. Such loans Such loans (outstanding at any one time) shall be in such amounts not exceeding the estimated2 expenditures to be made by the local public agency for such purposes, bear interest at such rate (not less than the applicable going Federal rate), be secured in such manner, and be repaid within such period (not exceeding, in the case of definitive loans, forty years from the date of the bonds or other obligations4 evidencing such loans), as may be deemed advisable by the Secretary. In any case where, in connection with its undertaking and carrying out of an urban ACQUISITION renewal project, a local public agency is authorized EARLY LAND 1This sentence amended to read as set forth in the text by sec. 304, Housing Act of 1954, Public Law 560, 83rd Congress, approved Aug. 2, 1954, 68 Stat. 590, 624. As originally enacted this sentence read as follows: "To assist local communities in eliminating their slums and blighted areas and in providing maximum opportunity for the redevelopment of project areas by private enterprise, the Administrator may make temporary and definitive loans to local public agencies for the undertaking of projects for the assembly, clearance, preparation, and sale and lease of land for redevelopment.". 2sec. 304, Housing Act of 1954, Public Law 560, 83rd Congress, approved Aug. 2, 1954, 68 Stat. 590, 624, inserted the word "estimated". 3sec. 402(a), Housing Act of 1959, Public Law 86-372, approved Sept. 23, 1959, 73 Stat. 654-671, substituted "for such purposes" for "as part of the gross project cost". 4sec. 304, Housing Act of 1954, Public Law 560, 83rd Congress, approved Aug. 2, 1954, 68 Stat. 590, 624, inserted "or other obligations". 5Sec. 403, Housing Act of 1959, Public Law 86-372, approved Sept. 23, 1959, 73 Stat. 654-671, added this sentence. Housing Act of 1949 1 (under the circumstances in which the temporary loan 1sec. 314(b) Housing Act of 1961, Public Law 87-70, approved June 30, 1961, 75 Stat. 149, 172, added "together with administrative, relocation, and other related costs and payments". 2The last two sentences of subsection (a) were added by sec. 303 (a), Housing Act of 1964, Public Law 88-560, approved Sept. 2, 1964, 78 Stat. 769, 785. Housing Act of 1949 SINGLE FOR TWO LOANS FOR PUBLIC PRIVATE two sentences of this subsection, for two or more (b)In connection with any project on land which 2 The last two sentences of subsection (a) were added by sec. 303(a), Housing Act of 1964, Public Law 88-560, approved Sept. 2, 1964, 78 Stat. 769, 785. 2Sec. 507(a)(1), Housing and Urban Development Act of 1968, Public Law 90-448, approved August 1, 1968, 82 Stat. 476, 522 deleted after "Government" the following: "at interest rates lower than provided in the loan contract". See footnote I infra, on page 13. Sec. 402(b), Housing Act of 1959, Public Law 86-372, approved Sept. 23, 1959, 73 Stat. 654,671, inserted "the principal of and the interest on". |