Pub. L. 84-1020, tit. IV, sec. 407

Sec. 407. (a) The Act entitled “An Act to expedite the provision of housing in connection with national defense, and for other purposes”, approved October 14, 1940, as amended, is amended by adding at the end thereof the following new section 614: 70 Stat. 1107 “Sec. 614. “(a) Notwithstanding the provisions of this or an;y other law, (1) any housing to be sold on-site determined by the Administrator to be permanent, located on lands owned by the United States and under the jurisdiction of the Administrator, which is not relinquished, transferred, under contract of sale, sold, or otherwise disposed of by the administrator under other provisions of this Act or under the provisions of other law by January 1, 1957, except housing which is determined by the Administrator by that date to be suitable for sale in accordance with section 607 (b) of this Act; and (2) any permanent housing to be sold off-site which is not relinquished, transferred, under contract of sale, sold, or otherwise disposed of prior to the effective date of this section shall be disposed of, as expeditiously as possible, on a competitive basis to the highest responsible bidder upon such terms and after such public advertisement as the Administrator may deem in the public interest; except that the Administrator may reject any bid which he deems less than the fair market value of the property and may thereafter dispose of the property by negotiation. “(b) Notwithstanding the provisions of this or any other law, all contracts entered into after the enactment of this section for the sale, transfer, or other disposal of housing (other than housing subject to the provisions of section 607 (b) of this Act) determined by the Administrator to be permanent, except contracts entered into pursuant to subsection (a) hereof, shall require that if title does not pass to the purchaser by April 1, 1957 (or within sixty days thereafter if such time is necessary to cure defects in title in accordance with the provisions of the contract), the rights of the purchaser shall terminate and thereafter the housing shall be sold under the provisions of subsection (a) hereof. For the purposes of this subsection, title shall be considered to nave passed upon the execution of a conditional sales contract. “(c) The dates set forth in subsections (a) and (b) of this section shall not be subject to change by virtue of the provisions of section 611 of this Act.” (b) Notwithstanding any other provision of law, the Housing and Home Finance Administrator is authorized to sell and convey, at fair market value as determined by him on the basis of an appraisal made by an independent real-estate expert, to the city of Alexandria, Virginia, or to the Alexandria Redevelopment and Housing Authority, or to any agency or corporation established or sponsored in the public interest by such city, all of the right, title, and interest of the United States in and to the Chinquapin Village housing project, VA–44131, located in Alexandria, Virginia. Any sale pursuant to this authorization shall be made within six months after the date of the enactment of this subsection and shall be on such terms and conditions as the Administrator shall determine. (c) Notwithstanding any other provision of law, the Housing and Home Finance Administrator is authorized and directed to sell and convey to the city of Euclid, Ohio, for a total price of $6,125,000, all of the right, title, and interest of the United States in and to the housing projects known as Euclid Homes (OH–33074) and Lakeshore Village (OH–33071) located in Euclid, Ohio. The purchase price shall be secured by a mortgage which need not be a general obligation of such city, and shall be paid in equal annual installments within twenty years from the date of sale with the right of prepayment of all or any part thereof. No down-payment shall be required, and the unpaid balances shall bear interest at the rate of 4 1/2 per centum per annum. The Administrator may impose such other terms and conditions as he may deem necessary or desirable, including a requirement 70 Stat. 1108 that any net revenues be applied by such city as advance payment on the last maturing installments of the purchase price. (d) (1) Notwithstanding any other provision of law, the Public Housing Commissioner is authorized and directed to sell and convey by quitclaim deed to the Georgia Institute of Technology, upon full payment in cash of the purchase price determined under paragraph (2), all of the right, title, and interest of the United States in and to that real property (including furniture, fixtures, and equipment located on the property on the date of the execution of the contract or sale under this subsection), situated in Atlanta, Georgia, known as the Tech wood Dormitory and more particularly described as follows: Commencing at the intersection of the south line of North Avenue with the east line of Tech wood Drive; thence running north 89 degrees 45 minutes east 94.47 feet along the south line of North Avenue to the east line of property formerly owned by Mrs. Emma L. Ellis; thence south 00 degrees 12.5 minutes east 155.0 feet more or less to the south line of an alley formerly known as Linden Alley and the north line of property formerly owned by Mildred W. Seydel; thence north 89 degrees 45 minutes east along the south line of said alley 170.0 feet more or less to a point in the south side of said alley which is distant 100.0 feet westerly from the west line of William Street; thence south 00 degrees 12.5 minutes east 290.0 feet more or less to a point on the south side of the former location of Linden Avenue, which point is 100.0 feet more or less west of the west line of Williams Street; thence running south 89 degrees 45 minutes west 281.57 feet more or less along the south side of the former location of Linden Avenue to its intersection with the east line of Tech wood Drive; thence north 00 degrees 02 minutes east 293.88 feet more or less along the east line of Tech wood Drive; thence north 6 degrees 06 minutes east 151.98 feet more or less along the east line of Tech wood Drive to its intersection with the south line of North Avenue and the point of beginning. (2) The purchase price of the property referred to in paragraph (1) shall be the fair market value of the land described in such paragraph on the date of the execution of the contract of sale under this subsection, as determined by the Public Housing Commissioner, excluding for purposes of such determination the value of any buildings, furniture, fixtures, and equipment located on such land. (3) If the property referred to in paragraph (1) is not sold and conveyed to the Georgia Institute of Technology within six months after the date of the enactment of this Act, the Public Housing Commissioner shall dispose of such property at public sale to the highest competitive bidder. (e) The last proviso of subsection (c) of section 108 of the Housing Amendments or 1955 is amended by striking out “12” and inserting in lieu thereof “24”.