Pub. L. 85-104, tit. I, sec. 302

Sec. 302. The I lousing Act of 1949 is further amended by— (1) striking out the second sentence of section 103 (a) and inserting in lieu thereof the following: “The aggregate of such capital grants with respect to all the projects of a local public 71 Stat. 300 agency on which contracts for capital grants have been made under this title, exclusive of projects referred to in the proviso hereto, shall not exceed two-thirds of the aggregate of the net project costs of such nonexcluded projects: Provided, That the aggregate of such capital grants may exceed two-thirds but not three-fourths of the aggregate net project costs of those projects which the Administrator, at the request of a local public agency, may approve on such a three-fourths capital grant basis. A capital grant with respect to any individual project shall not exceed the difference between the net project cost and the local grants-in-aid actually made with respect to the project.”; (2) inserting before the period at the end of section 104 the following: “on the two-thirds basis, or in excess of one-fourth of the aggregate net project costs of all projects of the local public agency on which contracts for capital grants have been made on the three-fourths basis”; (3) inserting before the first semicolon in section 110 (d) the words “to defray expenditures within the purview of section 110 (e) (1) hereof”; (4) inserting before the period at the end of the first sentence of section 110 (e) a colon and the following: “Provided, That with respect to a project for which a contract for capital grant has been executed on a three-fourths basis pursuant to the proviso in the second sentence of section 103 (a), gross project cost shall include, in lieu of the amount specified in clause (1), the amount of the expenditures by the local public agency with respect to the following undertakings and activities necessary to carry out such project: “(i) acquisition of land (but only to the extent of the consideration paid to the owner and not title, appraisal, negotiating, legal, or any other expenditures of the local public agency incidental to acquiring land), disposition of land, demolition and removal of buildings and improvements, and site preparation and improvements, all as provided in paragraphs (1), (2), (3), (4), and (6) of section 110 (c); and “(ii) the payment of carrying charges related to the undertakings in clause (i), exclusive of taxes and payments in lieu of taxes, but not beyond the point where such a project is completed; but not the cost of any other undertakings and activities (including, but without being limited to, the cost of surveys and plans, legal services of any kind, and all administrative and overhead expenses of the local public agency) with respect to such project”; and (5) inserting within the parentheses in the second sentence of section 110 (e) after the words “or is hereafter executed” the following: “, other than a project on which a contract for capital grant is made on a three-fourths basis pursuant to the proviso in the second sentence of section 103 (a)”.