Recycling of Existing Assets for Cost-Effective Housing Act of 1989

Summary

Recycling of Existing Assets for Cost-Effective Housing Act of 1989 - Authorizes the Secretary of Housing and Urban Development to make grants to establish State revolving funds for: (1) homebuyer loans (priority for first-time or lower-income homebuyers); and (2) multifamily dwelling grants and loans. Requires State matching funds. Prohibits property conveyance for five years. Sets forth property eligibility requirements. Directs the Secretary to make a State listing of such properties available upon request. Requires at least annual program reports by: (1) State housing finance agencies to the Secretary; and (2) the Secretary to the Congress. Requires the General Accounting Office to audit the program at least annually. Authorizes FY 1990 and 1991 appropriations.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 August 1989

  Open at official source

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