REACH: asset recycling information dissemination

42 U.S.C. § 12785

• Title: 42 — The Public Health and Welfare
• Chapter: SUBCHAPTER II—INVESTMENT IN AFFORDABLE HOUSING
• Part: C

Text

(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.

History

(Pub. L. 101–625, title II, §245, Nov. 28, 1990, 104 Stat. 4119.)