Page:United States Statutes at Large Volume 106 Part 5.djvu/62

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106 STAT. 3700 PUBLIC LAW 102-550—OCT. 28, 1992 "(A) any public housing agency that is not designated as troubled pursuant to section 6(j)(2); "(B) any public housing agency or private housing management agent selected, or receiver appointed pursuant, to section 6(j)(3); "(C) any public housing agency that is designated as troubled pursuant to section 6(j)(2), if such agency acts in concert with a private nonprofit organization, another public housing agency that is not designated as a troubled agency, resident management corporation or other entity approved by the Secretary; and "(D) any public housing agency that is designated as troubled pursuant to section 6(j)(2) that— "(i) is so designated principally for reasons that will not affect the capacity of the agency to carry out a revitalization program; "(ii) is making substantial progress toward eliminating the deficiencies of the agency; or "(iii) is otherwise determined by the Secretary to be capable of carrying out a revitalization program. " (2) PRIVATE NONPROFIT coRPORATiON.The term 'private nonprofit organization' means any private nonprofit organization (including a State or locally chartered nonprofit organization) that— "(A) is incorporated under State or local law; "(B) has no part of its net earnings inuring to the benefit of any member, founder, contributor, or individual; "(C) complies with standards of financial accountability acceptable to the Secretary; and "(D) has among its purposes significant activities related to the provision of decent housing that is affordable to very low-income families. "(3) PUBLIC HOUSING AGENCY.—The term 'public housing agenc/has the meaning given the term in section 3(b), except that it does not include any Indian housing authority. "(4) RESIDENT MANAGEMENT CORPORATION.—The term 'resident management corporation' means a resident management corporation established in accordance with the requirements of the Secretary under section 20. "(5) SEVERELY DISTRESSED PUBLIC HOUSING. —The term 'severely distressed public housing* means a public housing project— "(A)thalr- "(i) requires major redesign, reconstruction or redevelopment, or partial or total demolition, to correct serious deficiencies in the original design (including appropriately high population density), deferred maintenance, physical deterioration or obsolescence of major systems and other deficiencies in the physical plant of the project; "(ii) is occupied predominantly by families with children who are in a severe state of distress, characterized by such factors as high rates of unemployment, teenage pregnancy, single-parent households, long-term dependency on public assistance and minimal educational achievement;