
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 42USC12722]

 
                 TITLE 42--THE PUBLIC HEALTH AND WELFARE
 
                CHAPTER 130--NATIONAL AFFORDABLE HOUSING
 
             SUBCHAPTER II--INVESTMENT IN AFFORDABLE HOUSING
 
Sec. 12722. Purposes

    The purposes of this subchapter are--
        (1) 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;
        (2) 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;
        (3) 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--
            (A) to expand the supply of decent, safe, sanitary, and 
        affordable housing;
            (B) to make new construction, rehabilitation, substantial 
        rehabilitation, and acquisition of such housing feasible; and
            (C) 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;

        (4) to make housing more affordable for very low-income and low-
    income families through the use of tenant-based rental assistance;
        (5) 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;
        (6) to expand the capacity of nonprofit community housing 
    development organizations to develop and manage decent, safe, 
    sanitary, and affordable housing;
        (7) to ensure 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;
        (8) to increase the investment of private capital and the use of 
    private sector resources in the provision of decent, safe, sanitary, 
    and affordable housing;
        (9) to allocate Federal funds for investment in affordable 
    housing among participating jurisdictions by formula allocation;
        (10) to leverage those funds insofar as practicable with State 
    and local matching contributions and private investment;
        (11) 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;
        (12) 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
        (13) 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.)
