Page:United States Statutes at Large Volume 106 Part 5.djvu/292

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106 STAT. 3930 PUBLIC LAW 102-550—OCT. 28, 1992 the plan has been made publicly available for a period of not less than 30 days. A governing board may resubmit for approval any plan returned by any such chief executive officer to the governing board, and such chief executive officer may, upon returning the plan indicate any modifications necessary for approval. A new town plan may not be approved unless such cnief executive officers determine that the membership of the governing board submitting the plan is constituted in accordance with section 1107 and the governing board is capable of carrying out the plan. (3) AMENDMENT.—An approved new town plan for the demonstration program developed by the governing board may be amended by the board by obtaining approval of the amendment in the manner provided under tnis subsection for approval of plans. If the chief executive officer of the unit of general local government does not approve or return the amend^ plan within 30 days of submission, the amended plan shall be considered to be approved for purposes of this subsection. SEC. 1108. NEW TOWN DEVELOPMENT DEMONSTRATION PROGRAM REQUIREMENTS. (a) IN GENERAL. —Each of the 2 new tovm development demonstration programs selected for assistance under this title under section 1102 shall be carried out, by the governing board submitting the new town plan for the demonstration program, in accordance with such plan (and any approved amendments of such plans) and shall be subject to the requirements under this section. (b) LOCAL PARTICIPATION. — With respect to any activities carried out under the demonstration program, the program shall give preference in awarding contracts, purchasing materials, acquiring services, and obtaining assistance or training, to contractors, businesses, developers, professionals, and other establishments located or having offices within the new town demonstration area. (c) HOUSING.— (1) NUMBER OF UNITS. —The demonstration program shall construct or renovate not less than 1,500 dwelling imits in the new town demonstration area, of which not less than 60 percent shall be units available for purchase by the occupant. (2) AFFORDABiLnY.—Units of varying sizes and costs shall be designed and developed under the demonstration program so that the program provides housing affordable to families of varying incomes not exceeding 115 percent of the median income for the area in which the new town demonstration area is located, including very low- and low-income families (as such terms are defined in section 3(b) of the United States Housing Act of 1937). (3) HOMEOWNERSmP UNITS. —Dwelling units developed under the demonstration program for purchase by the occupant shall initially be sold at prices affordable to families eligible to purchase such units. Such units shall be available for purchfuse only^ by families having incomes not exceeding the amount spedfied in paragraph (2). The demonstration snail develop 2-, 3-, and 4-bedroom units for purchase. (4) RENTAL UNITS.— Dwelling units developed under the demonstration program that are to be available for rental shall include family-type units and single bedroom and efficiencr^ units designed for elderly occupants. Such units shall be avail-