12 2 STA T . 2 7 1 4PUBLIC LA W 11 0– 2 89—J UL Y3 0 , 2008 ‘ ‘ (i)Therat i o o f the s horta g eofsta nd ard renta lu nits b oth affordable and a v ailable to e x tre m el y lo w- in c ome renter households in the S tate to the aggregate shortage of standard rental units both affordable and available to extremely low-income renter households in all the States . ‘‘(ii) The ratio of the shortage of standard rental units both affordable and available to very low-income renter households in the State to the aggregate short- age of standard rental units both affordable and avail- able to very low-income renter households in all the States. ‘‘(iii) The ratio of extremely low-income renter households in the State living with either ( I ) incom- p lete k itchen or plumbing facilities , (II) more than 1 person per room, or (III) paying more than 50 percent of income for housing costs, to the aggregate number of extremely low-income renter households living with either (I V ) incomplete kitchen or plumbing facilities, (V) more than 1 person per room, or (VI) paying more than 50 percent of income for housing costs in all the States. ‘‘(iv) The ratio of very low-income renter house- holds in the State paying more than 50 percent of income on rent relative to the aggregate number of very low-income renter households paying more than 50 percent of income on rent in all the States. ‘‘(v) The resulting sum calculated from the factors described in clauses (i) through (iv) shall be multiplied by the relative cost of construction in the State. F or purposes of this subclause, the term ‘cost of construc- tion ’— ‘‘(I) means the cost of construction or building rehabilitation in the State relative to the national cost of construction or building rehabilitation
and ‘‘(II) shall be calculated such that values higher than 1.0 indicate that the State’s construc- tion costs are higher than the national average, a value of 1.0 indicates that the State’s construc- tion costs are exactly the same as the national average, and values lower than 1.0 indicate that the State’s cost of construction are lower than the national average. ‘‘( C ) PRIO RI TY .—The formula re q uired under subpara- graph ( A ) shall give priority emphasis and consideration to the factor described in subparagraph ( B )(i). ‘‘( 4 )A L LO CA TIO N O FG RANT A M O U NT S .— ‘‘(A) N OTIC E .—Not later than 6 0 days after the date that the Secretary determines the formula amounts described in paragraph ( 3 ), the Secretary shall caused to be published in the Federal R egister a notice that such amounts shall be so available. ‘‘(B) G RANT AMOUNT.—In each fiscal year other than fiscal year 2 00 9 , the Secretary shall make a grant to each State in an amount that is equal to the formula amount determined under paragraph (3) for that State. Sta t e a ndloc al g o v e r n m ent s.D eadl i ne. F ederal R egister ,pub lication.
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