HOUSING IN URBAN RENEWAL AREAS

HOUSING IN URBAN RENEWAL AREAS Sec. 107. (a) Section 220 (d) (3) (B) (ii) of the National Housing Act is amended by inserting after “Commissioner” in the parenthetical phrase a comma and the following: “and shall include an allowance for builder’s and sponsor’s profit and risk of 10 per centum of all of the foregoing items except the land unless the Commissioner, after certification that such allowance is unreasonable, shall by regulation prescribe a lesser percentage”. (b) Section 220 (d) (3) (B) (iii) of such Act is amended by striking out in the first proviso thereof all that follows “construction and design” and inserting in lieu thereof a colon and the following: “Provided, further, That the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations by not to exceed $1,000 per room or per family unit, as the case may be, in any geographical area where he finds that cost levels so require”.