Source: https://www.law.cornell.edu/uscode/text/42/1437z%E2%80%937
Timestamp: 2019-08-20 13:57:11
Document Index: 22968818

Matched Legal Cases: ['§ 1437', '§ 1437', '§ 1437', '§\u202f1437', '§\u202f35', '§\u202f539', '§\u202f539']

42 U.S. Code § 1437z–7 - Mixed-finance public housing | US Law | LII / Legal Information Institute
U.S. Code › Title 42 › Chapter 8 › Subchapter I › § 1437z–7
42 U.S. Code § 1437z–7 - Mixed-finance public housing
§ 1437z–7.
The units assisted with capital or operating assistance in a mixed-finance project shall be developed, operated, and maintained in accordance with the requirements of this chapter relating to public housing during the period required by under [1] this chapter, unless otherwise specified in this section. For purposes of this chapter, any reference to public housing owned or operated by a public housing agency shall include dwelling units in a mixed finance project that are assisted by the agency with capital or operating assistance.
For purposes of this section, the term “mixed-finance project” means a project that meets the requirements of paragraph (2) and is financially assisted by private resources, which may include low-income housing tax credits, in addition to amounts provided under this chapter.
(2) Types of projectsThe term includes a project that is developed—
by any entity that grants to the public housing agency the right of first refusal and first option to purchase, after the close of the compliance period, of the qualified low-income building in which the public housing units exist in accordance with section 42(i)(7) of title 26; or
(e) Structure of projectsEach mixed-finance project shall be developed—
(1) In generalA public housing agency may elect to exempt all public housing units in a mixed-finance project—
from the provisions of section 1437d(d) of this title, and instead subject such units to local real estate taxes; and
from the finding of need and cooperative agreement provisions under section 1437c(e)(1)(ii) and 1437c(e)(2) of this title, but only if the development of the units is not inconsistent with the jurisdiction’s comprehensive housing affordability strategy.
(Sept. 1, 1937, ch. 896, title I, § 35, as added Pub. L. 105–276, title V, § 539[(a)], Oct. 21, 1998, 112 Stat. 2594.)
Pub. L. 105–276, title V, § 539(b), Oct. 21, 1998, 112 Stat. 2596, provided that:
“The Secretary shall issue such regulations as may be necessary to promote the development of mixed-finance projects, as that term is defined in section 3(b) of the United States Housing Act of 1937 [42 U.S.C. 1437a(b)] (as amended by this Act).”