Homesteading and Neighborhood Restoration Act of 1995

Summary

Homesteading and Neighborhood Restoration Act of 1995 - Directs the Secretary of Housing and Urban Development to make equal grants to Habitat for Humanity International and other national or regional organizations or consortia for the construction of new, safe, and sanitary dwellings in the United States, including land acquisitions and infrastructure improvement. Amends the Housing Act of 1949 to extend the time period in which the Secretary is authorized to insure and make commitments to insure loans made under the multifamily rural housing program. Allows any interest in the ownership of a project for which a loan is made or insured under to be transferred only if the Secretary determines that such a transfer would be in the best interest of the tenants of the housing. Repeals provisions which prohibit the Secretary from denying loans because an area is excessively remote. Requires the Secretary to establish objective procedures to identify the counties and communities that have the greatest need for rental housing assistance and designate those counties and communities to receive assistance. Amends the Housing Act of 1949 to deny equity loans to extend low income use unless the Secretary determines that other incentives available are not adequate to provide a fair return on the investment of the borrower, to prevent prepayment of the loan, or to prevent displacement of tenants of the housing for which the loan was made. Authorizes the Secretary to make commitments to nonprofit organizations, an agency or body of any State government, or a private entity to guarantee loans from lenders approved by the Secretary for the development costs of housing and related facilities that consists of five or more adequate dwellings available for occupancy only by low or moderate income families or persons, and will remain available according to commitments required by the Secretary. Terminates guarantee authority after September 30, 1995. Authorizes appropriations.

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Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 31 October 1995

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• Referred in Senate (PDF)

  Referred in Senate · EN · 31 October 1995

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• Engrossed in House (text)

  Engrossed in House · EN · 30 October 1995

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• Engrossed in House (PDF)

  Engrossed in House · EN · 30 October 1995

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• Passed House amended

  summary · EN · 30 October 1995

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• Introduced in House (text)

  Introduced in House · EN · 24 May 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 24 May 1995

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• Introduced in House

  summary · EN · 24 May 1995

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