Page:United States Statutes at Large Volume 115 Part 3.djvu/147
PUBLIC LAW 107-116-JAN. 10, 2002 115 STAT. 2221 Sec. 603. Effective date. Subtitle A—Multifamily Housing Mortgage and Assistance Restructuring and Section 8 Contract Renewal Sec. 611. Definition. Sec. 612. Mark-to-market program amendments. Sec. 613. Consistency of rent levels under enhanced voucher assistance and rent restructurings. Sec. 614. Eligible inclusions for renewal rents of partiallv assisted buildings. Sec. 615. Eligibility of restructuring projects for miscellaneous housing insurance. Sec. 616. Technical corrections. Subtitle B—Office of Multifamily Housing Assistance Restructuring Sec. 621. Reauthorization of Office and extension of program. Sec. 622. Appointment of Director. Sec. 623. Vacancy in position of Director. Sec. 624. Oversight by Federal Housing Commissioner. Sec. 625. Limitation on subsequent employment. Subtitle C—Miscellaneous Housing Program Amendments Sec. 631. Extension of CDBG public services cap exception. Sec. 632. Use of section 8 enhanced vouchers for prepayments. Sec. 633. Prepayment and refinancing of loans for section 202 supportive housing. Sec. 634. Technical correction. SEC. 602. PURPOSES. 42 USC 1437f The purposes of this title are— (1) to continue the progress of the Multifamily Assisted Housing Reform and Affordability Act of 1997 (referred to in this section as "that Act"); (2) to ensure that properties that undergo mortgage restructurings pursuant to that Act are rehabilitated to a standard that allows the properties to meet their long-term affordability requirements; (3) to ensure that, for properties that undergo mortgage restructurings pursuant to that Act, reserves are set at adequate levels to allow the properties to meet their long-term affordability requirements; (4) to ensure that properties that undergo mortgage restructurings pursuant to that Act are operated efficiently, and that operating expenses are sufficient to ensure the longterm financial and physical integrity of the properties; (5) to ensure that properties that undergo rent restructurings have adequate resources to maintain the properties in good condition; (6) to ensure that the Office of Multifamily Housing Assistance Restructuring of the Department of Housing and Urban Development continues to focus on the portfolio of properties eligible for restructuring under that Act; (7) to ensure that the Department of Housing and Urban Development carefully tracks the condition of those properties on an ongoing basis; (8) to ensure that tenant groups, nonprofit organizations, and public entities continue to have the resources for building the capacity of tenant organizations in furtherance of the purposes of subtitle A of that Act; and (9) to encourage the Office of Multifamily Housing Assistance Restructuring to continue to provide participating administrative entities, including public participating administrative entities, with the flexibility to respond to specific problems that individual cases may present, while ensuring consistent outcomes around the country.