family unit limits on fha rental housing

family unit limits on fha rental housing Sec. 107. (a) Section 207(c)(3) of the National Housing Act is amended by striking out the first paragraph and inserting in lieu thereof the following: “(3) not to exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Commissioner), $9, 000 per family unit without a bedroom, $12, 500 per family unit with one bedroom, $15, 000 per family unit with two bedrooms, and $18, 500 per family unit with three or more bedrooms or not to exceed $1, 800 per space or $500, 000 per mortgage for trailer courts or parks; except that as to projects to consist of elevator-type structures the Commissioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $10, 500 per family unit without a bedroom, $15, 000 per family unit with one bedroom, $18, 000 per family unit with two bedrooms, and $22, 500 per family unit with three or more bedrooms, 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; and except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this paragraph by not to exceed 45 per centum in any geographical area where he finds that cost levels so require.” (b) Section 213(b) (2) of such Act is amended by striking out all that precedes the third proviso and inserting in lieu thereof the following: “(2) not to exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Commissioner), $9, 000 per family unit without a bedroom, $12, 500 per family unit with one bedroom, $15, 000 per family unit with two bedrooms, and $18, 500 per family unit with three or more bedrooms, and not to exceed 97 per centum of the amount which the Commissioner estimates will be the replacement cost of the property or project when the proposed physical improvements are completed: Provided, That as to projects to consist of elevator-type structures the Commis-78 Stat. 775sioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $10, 500 per family unit without a bedroom, $15, 000 per family unit with one bedroom, $18, 000 per family unit with two bedrooms, and $22, 500 per family unit with three or more bedrooms, 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: Provided further, That the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this paragraph by not to exceed 45 per centum in any geographical area where he finds that cost levels so require”. (c) Section 220(d) (3) (B) (iii) of such Act is amended to read as follows: “(iii) not exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Commissioner), $9, 000 per family unit without a bedroom, $12, 500 per family unit with one bed-room, $15, 000 per family unit with two bedrooms, and $18, 500 per family unit with three or more bedrooms; except that as to projects to consist of elevator-type structures the Commissioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $10, 500 per family unit without a bedroom, $15, 000 per family unit with one bedroom, $18, 000 per family unit with two bedrooms, and $22, 500 per family unit with three or more bedrooms, 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; and except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this clause by not to exceed 45 per centum in any geographical area where he finds that cost levels so require: Provided, That nothing contained in this subparagraph shall preclude the insurance of mortgages covering existing multifamily dwellings to be rehabilitated or reconstructed for the purposes set forth in subsection (a) of this section; and”. (d) (1) Section 221(d) (3) (ii) of such Act is amended to read as follows: “(ii) not exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Commissioner), $8, 000 per family unit without a bedroom, $11, 250 per family unit with one bedroom, $13, 500 per family unit with two bedrooms, and $17, 000 per family unit with three or more bedrooms; except that as to projects to consist of elevator-type structures the Commissioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $9, 500 per family unit without a bedroom, $13, 500 per family unit with one bedroom, $16, 000 per family unit with two bedrooms, and $20, 000 per family unit with three or more bedrooms, 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; and except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this clause by not to exceed 45 per centum in any geographical area where he finds that cost levels so require; and” (2) Section 221(d) (4) (ii) of such Act is amended to read as follows: “(ii) not exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improve- 78 Stat. 776 ments as defined by the Commissioner), $8, 000 per family unit without a bedroom, $11, 250 per family unit with one bedroom, $13, 500 per family unit with two bedrooms, and $17, 000 per family unit with three or more bedrooms; except that as to projects to consist of elevator-type structures the Commissioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $9, 500 per family unit without a bedroom, $13, 500 per family unit with one bedroom, $16, 000 per family unit with two bedrooms, and $20, 000 per family unit with three or more bedrooms, 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; and except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this clause by not to exceed 45 per centum in any geographical area where he finds that cost levels so require;”. (e) Section 231(c)(2) of such Act is amended to read as follows: “(2) not exceed, for such part of the property or project as may be attributable to dwelling use (excluding exterior land improvements as defined by the Commissioner), $8, 000 per family unit without a bedroom, $11, 250 per family unit with one bedroom, $13, 500 per family unit with two bedrooms, and $17, 000 per family unit with three or more bedrooms; except that as to projects to consist of elevator-type structures the Commissioner may, in his discretion, increase the dollar amount limitations per family unit to not to exceed $9, 500 per family unit without a bedroom, $13, 500 per family unit with one bedroom, $16, 000 per family unit with two bedrooms, and $20, 000 per family unit with three or more bedrooms, 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; and except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this paragraph by not to exceed 45 per centum in any geographical area where he finds that cost levels so require;”. (f) (1) Clause (2) in the first sentence of section 810(f) of such Act is amended by striking out “$2, 500 per room (or $9, 000 per family unit if the number of rooms in such property or project is less than four per family unit)” and inserting in lieu thereof “$9, 000 per family unit without a bedroom, $12, 500 per family unit with one bedroom, $15, 000 per family unit with two bedrooms, and $18, 500 per family unit with three or more bedrooms”. (2) The second sentence of section 810(f) of such Act is amended to read as follows: “The Commissioner may, by regulation, increase any of the foregoing dollar amount limitations contained in this paragraph by not to exceed 45 per centum in any geographical area where he finds that cost levels so require.” (g) If the Federal Housing Commissioner determines that it would be inequitable to apply the provisions of the National Housing Act as amended by this section to a project which had been submitted for his consideration prior to the date of the enactment of this Act, such provisions may be applied to such project without regard to the amendments made by this section.