Pub. L. 83-560, tit. I, sec. 115

Sec. 115. Section 207 (c) of said Act, as amended, is hereby amended— (1) by inserting before the semicolon at the end of paragraph numbered (2) a colon and the following: provided further, That nothing contained in this section shall preclude the insurance of mortgages covering existing construction located in slum or blighted areas, as defined in paragraph numbered (5) of subsection (a) of this section, and the Commissioner may require such repair or rehabilitation work to be completed as is, in his discretion, 68 Stat. 595 necessary to remove conditions detrimental to safety, health, or morals”; (2) by striking out the word “Alaska,” in paragraph numbered (2) and inserting “Alaska, or in Guam,”; and (3) by striking out paragraph numbered (3) and inserting the following: “(3) not to exceed, for such part of such property or project as may be attributable to dwelling use, $2,000 per room (or $7,200 per family unit if the number of rooms in such property or project is less than four per family unit) : Provided, That as to projects to consist of elevator type structures, the Commissioner may, in his discretion, increase the dollar amount limitation of $2,000 per room to not to exceed $2,400 per room and the dollar amount limitation of $7,200 per family unit to not to exceed $7,500 per family unit, as the case may be, to compensate for the higher costs incident to the construction of elevator type structures of sound standards of construction and design.”