extension of period of eligibility of local grants-in-aid for certain urban renewal and neighborhood development projects

extension of period of eligibility of local grants-in-aid for certain urban renewal and neighborhood development projects Sec. 203. (a) The second paragraph of section 110(d) of the Housing Act of 1949 is amended— (1) by inserting “(except the second sentence of this paragraph)” after “any other provision of this subsection”; and (2) by adding at the end thereof the following new sentence: “In connection with any project for which an application is tiled not later than the date of the enactment of the Housing and Urban Development Act of 1969 and which has not received Federal recognition (other than a project to which clause (2) of the second sentence of section 133(a) applies), the three-year period referred to above shall be extended to a period of four years prior to the authorization by the Secretary of a contract for loan or capital grant for the project.” (b) Section 112 (b) of such Act is amended— (1) by striking out “No expenditure” and inserting in lieu thereof “Subject to the second sentence of this subsection, no expenditure”; and (2) by adding at the end thereof the following new sentence: “In connection with any project for which an application is filed not later than the date of the enactment of the Housing and Urban Development Act of 1969 and which has not received Federal recognition (other than a project to which clause (2) of the second sentence of section 133(a) applies), the seven-year period referred to in clause (1) of the preceding sentence shall be extended to a period of eight years prior to the authorization by the Secretary of a contract for a loan or capital grant for the project.” (c) Section 133(a) of such Act is amended— (1) by striking out “for” and inserting in lieu thereof “Except as otherwise provided in this subsection, for”; (2) by striking out “the second paragraph” and inserting in lieu thereof “the first sentence of the second paragraph”; and (3) by adding at the end thereof the following new sentence: “In connection with any neighborhood development program for which an application is filed not later than the date of the enactment of the Housing and Urban Development Act of 1969 and for which no contract for financial assistance under the program has been authorized by the Secretary, the three-year and seven-year periods referred to above shall be extended to periods of four and eight years, respectively, prior to authorization of (1) the 83 Stat. 387 first contract for financial assistance under the program which includes the urban renewal area benefited by the public improvement or facility (or the expenditures) for which credit is claimed, or (2) a contract for a loan or capital grant for an urban renewal project authorized after the date of the enactment of the Housing and Urban Development Act of 1969 in an area which is benefited by the public improvement or facility (or the expenditures) for which credit is claimed and which was included in the neighborhood development program application.”