Page:United States Statutes at Large Volume 75.djvu/93

From Wikisource
Jump to navigation Jump to search
This page needs to be proofread.
[75 Stat. 53]
[75 Stat. 53]
PUBLIC LAW 87-000—MMMM. DD, 1961

76 S T A T. 1

53

PUBLIC LAW 8T-27-MAY 1, 1961

(d) No financial assistance shall be extended under this section with respect to any public facility which would compete with an existing privately owned public utility rendering a service to the public at rates or charges subject to regulation by a State regulatory body, unless the State regulatory body determines that in the area to be served by the public facility for which the financial assistance is to be extended there is a need for an increase in such service (taking into consideration reasonably foreseeable future needs) which the existing public utility is not able to meet through its existing facilities or through an expansion which it agrees to undertake. GRANTS FOR PUBLIC FACILITIES

SEC. 8. (a) Upon the application of any State, or political subdivision thereof, Indian tribe, or private or public nonprofit organization or association representing any redevelopment area or part thereof, the Secretary is authorized to make grants for land acquisition or development for public facility usage, and the construction, rehabilitation, alteration, expansion, or improvement of public facilities, within a redevelopment area, if he finds that— (1) the project for which financial assistance is sought will tend to improve the opportunities, in the redevelopment area where such project is or will be located, for the successful establishment or expansion of industrial or commercial plants or facilities which will provide more than a temporary alleviation of unemployment or underemployment in such area; (2) the entity requesting the grant proposes to contribute to the cost of the project for which such grant is requested in proportion to its ability so to contribute; (3) the project for which a grant is requested will fulfill a )ressing need of the area, or part thereof, in which it is, or will be located, and there is little probability that such project can )e, be undertaken without the assistance of a grant under this section; and (4) the area for which a project is to be undertaken has an approved economic development program as provided in section 6(b) (10) and such project is consistent with such program. The amount of any grant under this section for any such project shall not exceed the difference between the funds which can be practicably obtained from other sources (including a loan under section 7 of this Act) for such project, and the amount which is necessary to insure the completion thereof. (b) The Secretary shall by regulation provide for the supervision of projects with respect to which grants are made under this section so as to insure that Federal funds are not wasted or dissipated. (c) No financial assistance shall be extended under this section with respect to any public facility which would compete with an existing privately owned public utility rendering a service to the public at rates or charges subject to regulation by a State regulatory body, unless the State regulatory body determines that in the area to be served by the public facility for which the financial assistance is to be extended there is a need for an increase in such service (taking into consideration reasonably foreseeable future needs) which the existing public utility is not able to meet through its existing facilities or through an expansion which it agrees to undertake. (d) There is hereby authorized to be appropriated not to exceed $75,000,000 for the purpose of making grants under this section.

Conditions grants.

for

Supervision.

Appropriation.