§ 12785. REACH: asset recycling information dissemination
173 words·~1 min read·
/usc/title-42/section-12785A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general The Secretary shall make available upon request by any participating jurisdiction a list of eligible properties that are located within the jurisdiction and that are owned or controlled by the Department of Housing and Urban Development to facilitate the purchase, development, or rehabilitation of such properties with assistance made available under this subchapter.
(b)Eligible properties An eligible property under this section shall—
(1)be an unoccupied single-family or multifamily dwelling, such that acquisition and rehabilitation of the dwelling would not result in the displacement of any residents of the dwelling; and
(2)have an appraised value that does not exceed
(A)in the case of a 1- to 4-family dwelling, 95 percent of the median purchase price for the area for such dwellings, as determined by the Secretary, or
(B)in the case of a dwelling with more than 4 units, the applicable maximum dollar amount limitation under section 1715l(d)(3)(ii) of title 12 for elevator-type structures.
(Pub. L. 101–625, title II, § 245, Nov. 28, 1990, 104 Stat. 4119.)
Connections9 cite this
Cited by 9 sections
statute-compilations
2 references not yet in our index
- Pub. L. 101–625, title II, § 245
- 104 Stat. 4119
Citation graph
cites case law
§ 12785
REACH: asset recycling information dissemination
Bills×7
Stat. Comp.×1
Stat.×1
Pub. L.Pub. L. 101–625, title II, § 245
Stat.104 Stat. 4119
Cites 2Cited by 9 across 3 sources