101 STAT. 1842
PUBLIC LAW 100-242—FEB. 5, 1988 that employ residents of public housing, or for acquiring additional dwelling units for lower income families.
"(f) RESIDENT MANAGEMENT TECHNICAL ASSISTANCE AND TRAINING.— "(1) FINANCIAL ASSISTANCE.—To the extent budget authority is
available for section 14, the Secretary shall provide financial assistance to resident management corporations or resident councils that obtain, by contract or otherwise, technical assistance for the development of resident management entities, including the formation of such entities, the development of the management capability of newly formed or existing entities, the identification of the social support needs of residents of public housing projects, and the securing of such support. "(2) LIMITATION ON ASSISTANCE.—The financial assistance provided under this subsection with respect to any public housing project may not exceed $100,000. "(3) FUNDING.—Of the amounts available for financial assistance under section 14, the Secretary may use to carry out this subsection not more than $2,500,000 for fiscal year 1988 and not more than $2,500,000 for fiscal year 1989. "(g) ASSESSMENT AND REPORT BY THE SECRETARY.—Not later than 3 years after the date of the enactment of the Housing and Community Development Act of 1987, the Secretary shall— "(1) conduct an evaluation and assessment of resident management, and particularly of the effect of resident management on living conditions in public housing; and "(2) submit to the Congress a report setting forth the findings of the Secretary as a result of the evaluation and assessment and including any recommendations the Secretary determines to be appropriate.". Corporations.
SEC. 123. PUBLIC HOUSING OPPORTUNITIES.
HOMEOWNERSHIP
AND
MANAGEMENT
The United States Housing Act of 1937 (as amended by section 122 of this Act) is further amended by adding at the end the following new section: PUBLIC H O U S I N G HOMEOWNERSHIP AND MANAGEMENT OPPORTUNITIES 42 USC 1437s.
" SEC. 2 1. (a) HOMEOWNERSHIP OPPORTUNITIES IN GENERAL.—Lower
income families residing in a public housing project shall be provided with the opportunity to purchase the dwelling units in the project through a qualifying resident management corporation as follows: "(1) FORMATION OF RESIDENT MANAGEMENT CORPORATION.—As
Contracts.
a condition for public housing homeownership— "(A) the adult residents of a public housing project shall have formed a resident management corporation in accordance with regulations and requirements of the Secretary prescribed under this section and section 20; "(B) the resident management corporation shall have entered into a contract with the public housing agency establishing the respective management rights and responsibilities of the resident management corporation and the public housing agency; and
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