(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.
Structure US Code
Title 42— THE PUBLIC HEALTH AND WELFARE
CHAPTER 130— NATIONAL AFFORDABLE HOUSING
SUBCHAPTER II— INVESTMENT IN AFFORDABLE HOUSING
Part D— Specified Model Programs
§ 12802. Rental housing production
§ 12803. Rental rehabilitation
§ 12805. Sweat equity model program
§ 12806. Home repair services grants for older and disabled homeowners
§ 12807. Low-income housing conservation and efficiency grant programs
§ 12808. Second mortgage assistance for first-time homebuyers
§ 12809. Rehabilitation of State and local government in rem properties
§ 12810. Cost-saving building technologies and construction techniques