assistance to nonprofit sponsors of low and moderate income housing

assistance to nonprofit sponsors of low and moderate income housing Sec. 106. (a) The Secretary of Housing and Urban Development is authorized to provide, or contract with public or private organizations to provide, information, advice, and technical assistance with respect to the construction, rehabilitation, and operation by nonprofit organizations of housing for low or moderate income families. Assistance by the Secretary may include— (1) the assembly, correlation, publication, and dissemination of information with respect to the construction, rehabilitation, and operation of low and moderate income housing, and (2) the provision of advice and technical assistance with respect to the construction, rehabilitation, and operation of low and moderate income housing. (b) (1) The Secretary is authorized to make loans to nonprofit organizations for the necessary expenses, prior to construction, in planning, and obtaining financing for, the rehabilitation or construction of housing for low or moderate income families under any federally assisted program. Such loans shall be made without interest and shall not exceed 80 per centum of the reasonable costs expected to be incurred in planning, and in obtaining financing for, such housing prior to the availability of financing, including, but not limited to, preliminary surveys and analyses of market needs, preliminary site engineering and architectual fees, site acquisition, application and mortgage commitment fees, and construction loan fees and discounts. The Secretary shall require repayment of loans made under this subsection, under 82 Stat. 491such terms and conditions as lie may require, upon completion of the project or sooner, and may cancel any part or all of a loan if he deter- mines that it cannot be recovered from the proceeds of any permanent loan made to finance the rehabilitation or construction of the housing. (2) The Secretary shall determine prior to the making of any loan that the nonprofit organization meets such requirements with respect to financial responsibility and stability as he may prescribe. (3) There are authorized to be appropriated for the purposes of this subsection not to exceed $7,500,1)00 for the fiscal year ending June 30, 1969j and not to exceed $10,000,000 for the fiscal year ending June 30, 1970, Any amounts so appropriated shall remain available until expended, and any amounts authorized for any fiscal year under this paragraph but not appropriated may be appropriated for any succeeding fiscal year. (4) All funds appropriated for the purposes of this subsection shall be deposited in a fund which shall be known as the Low and Moderate Income Sponsor Fund, and which shall be available without fiscal year limitation and be administered by the Secretary as a revolving fund for carrying out the purposes of this subsection. Sums received in repayment of loans made under this subsection shall be deposited in such fund.