greater use of existing housing

greater use of existing housing Sec. 502. Section 10(c) of the United States Housing Act of 1937 is amended by striking out “And provided” and inserting in lieu thereof “Provided”, and by inserting before the period at the end thereof the following: “: And provided further, That the amount of the fixed annual contribution which would be established under this Act for a newly constructed project by a public housing agency designed to accommodate a number of families of a given size and kind may be established, as a maximum annual contribution in lieu of any other guaranteed contribution authorized under this section, for a project by such public housing agency which would provide housing for the comparable number, sizes, and kinds of families through the acquisition, acquisition and rehabilitation, or use under lease of existing structures which are suitable for low-rent housing use and obtainable in the local market ”.