sale to tenants of low-rent housing in private accommodations

sale to tenants of low-rent housing in private accommodations Sec. 208. (a) Section 23(f) of the United States Housing Act of 1937 is amended by inserting “(1)“ after “shall not apply to”, and by inserting before the period at the end thereof the following: “, or (2) housing purchased (or in the process of purchase) by the public housing agency for resale to tenants as provided in subsection (g)”. (b) Section 23 of such Act is further amended by adding at the end thereof the following new subsection: “(g) To the extent authorized in contracts entered into by the Authority with a public housing agency, such agency may purchase any structure containing one or more dwelling units leased to provide low-rent housing in private accommodations under this section for the purpose of reselling the structure to the, tenant or tenants of the struc-82 Stat. 505ture or to a group of such tenants occupying units aggregating in value at least 80 per centum of the structure’s total value. Any such resale shall be made subject to such terms and conditions (including provision for deferment of the required downpayment and for elimination of or adjustments in the required interest payments during a temporary period) as may be necessary to enable, the tenants involved to make the purchase without undue financial hardship.”