From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 6, 1999]
[Document not affected by Public Laws enacted between
January 6, 1999 and October 26, 2000]
[CITE: 42USC12722]
TITLE 42--THE PUBLIC HEALTH AND WELFARE
CHAPTER 130--NATIONAL AFFORDABLE HOUSING
SUBCHAPTER II--INVESTMENT IN AFFORDABLE HOUSING
Sec. 203. Purposes
The purposes of this subchapter are--
- to expand the supply of decent, safe, sanitary, and affordable
housing, with primary attention to rental housing, for very low-income
and low-income Americans;
- to mobilize and strengthen the abilities of States and units
of general local government throughout the United States to design
and implement strategies for achieving an adequate supply of decent,
safe, sanitary, and affordable housing;
- to provide participating jurisdictions, on a coordinated basis,
with the various forms of Federal housing assistance, including
capital investment, mortgage insurance, rental assistance, and
other Federal assistance, needed--
- to expand the supply of decent, safe, sanitary, and affordable
housing;
- to make new construction, rehabilitation, substantial rehabilitation,
and acquisition of such housing feasible; and
- to promote the development of partnerships among the Federal
Government, States and units of general local government,
private industry, and nonprofit organizations able to utilize
effectively all available resources to provide more of such
housing;
- to make housing more affordable for very low-income and low-income
families through the use of tenant-based rental assistance;
- to develop and refine, on an ongoing basis, a selection of model
programs incorporating the most effective methods for providing
decent, safe, sanitary, and affordable housing, and accelerate
the application of such methods where appropriate throughout the
United States to achieve the prudent and efficient
use of funds made available under this subchapter;
- to expand the capacity of nonprofit community housing development
organizations to develop and manage decent, safe, sanitary, and
affordable housing;
- toensure that Federal investment produces housing stock that is
available and affordable to low-income families for the property's
remaining useful life, is appropriate to the neighborhood surroundings,
and, wherever appropriate, is mixed income housing;
- to increase the investment of private capital and the use of private
sector resources in the provision of decent, safe, sanitary, and
affordable housing;
- to allocate Federal funds for investment in affordable housing among
participating jurisdictions by formula allocation;
- to leverage those funds insofar as practicable with State and local
matching contributions and private investment;
- to establish for each participating jurisdiction a HOME Investment
Trust Fund with a line of credit for investment in affordable
housing, with repayments back to its HOME Investment Trust Fund
being made available for reinvestment by the jurisdiction;
- to provide credit enhancement for affordable housing by utilizing
the capacities of existing agencies and mortgage finance institutions
when most efficient and supplementing their activities when appropriate;
and
- to assist very low-income and low-income families to obtain the skills
and knowledge necessary to become responsible homeowners and tenants.
Pub. L. 101-625, title II, Sec. 203, Nov. 28, 1990, 104 Stat. 4095.)
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