(a) In generalThe Secretary shall make available a model program to support the rehabilitation of privately owned rental housing located in neighborhoods where the median income does not exceed 80 percent of the area median as determined by the Secretary and where rents can reasonably be expected not to change materially over an extended period of time.
(b) Amount of subsidyThe amount of the rehabilitation subsidy shall be moderate and shall generally not exceed 50 percent of the total costs associated with the rehabilitation of the housing.
(c) Additional restrictionsThe guidelines of the model program shall generally comport with the additional protections and restrictions specified under section 1437o(c) 11 See References in Text note below. of this title.
(Pub. L. 101–625, title II, § 253, Nov. 28, 1990, 104 Stat. 4121.)
Editorial Notes
References in TextSection 1437o of this title, referred to in subsec. (c), was repealed by Pub. L. 101–625, title II, § 289(b), Nov. 28, 1990, 104 Stat. 4128.
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