A bill to amend title I of the Housing and Community Development Act of 1974 for the purpose of providing rehabilitation grants to metropolitan cities and urban counties.

Summary

Authorizes the Secretary of Housing and Urban Development to make urban rehabilitation grants to severely distressed cities and urban counties for the following purposes: (1) to finance the acquisition of real property by private, nonprofit entities for residential rehabilitation; (2) to finance residential rehabilitation through grants, revolving loan funds, mortgage insurance, high-risk mortgage pools, and low interest loans; (3) to make grants to neighborhood groups to carry out residential rehabilitation; and (4) to finance the rehabilitation of publicly owned building when the recipient of the grant participates in such rehabilitation. Directs the Secretary to issue regulations for the purpose of assuring that rehabilitation activities conducted with grants made under this program are primarily moderate rehabilitation activities and that such activities do not displace low- and moderate-income people. Lists information to be included in applications for such grants.

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Documents

1 official file

• Introduced in House

  summary · EN · 13 March 1978

  Open at official source

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