42 U.S.C. § 12722 : US Code - Section 12722: Purposes

Search 42 U.S.C. § 12722 : US Code - Section 12722: Purposes

The purposes of this subchapter are -
(1) to expand the supply of decent, safe, sanitary, and
affordable housing, with primary attention to rental housing, for
very low-income and low-income Americans;
(2) to mobilize and strengthen the abilities of States and
units of general local government throughout the United States to
design and implement strategies for achieving an adequate supply
of decent, safe, sanitary, and affordable housing;
(3) to provide participating jurisdictions, on a coordinated
basis, with the various forms of Federal housing assistance,
including capital investment, mortgage insurance, rental
assistance, and other Federal assistance, needed -
(A) to expand the supply of decent, safe, sanitary, and
affordable housing;
(B) to make new construction, rehabilitation, substantial
rehabilitation, and acquisition of such housing feasible; and
(C) to promote the development of partnerships among the
Federal Government, States and units of general local
government, private industry, and nonprofit organizations able
to utilize effectively all available resources to provide more
of such housing;
(4) to make housing more affordable for very low-income and low-
income families through the use of tenant-based rental
assistance;
(5) to develop and refine, on an ongoing basis, a selection of
model programs incorporating the most effective methods for
providing decent, safe, sanitary, and affordable housing, and
accelerate the application of such methods where appropriate
throughout the United States to achieve the prudent and efficient
use of funds made available under this subchapter;
(6) to expand the capacity of nonprofit community housing
development organizations to develop and manage decent, safe,
sanitary, and affordable housing;
(7) to ensure that Federal investment produces housing stock
that is available and affordable to low-income families for the
property's remaining useful life, is appropriate to the
neighborhood surroundings, and, wherever appropriate, is mixed
income housing;
(8) to increase the investment of private capital and the use
of private sector resources in the provision of decent, safe,
sanitary, and affordable housing;
(9) to allocate Federal funds for investment in affordable
housing among participating jurisdictions by formula allocation;
(10) to leverage those funds insofar as practicable with State
and local matching contributions and private investment;
(11) to establish for each participating jurisdiction a HOME
Investment Trust Fund with a line of credit for investment in
affordable housing, with repayments back to its HOME Investment
Trust Fund being made available for reinvestment by the
jurisdiction;
(12) to provide credit enhancement for affordable housing by
utilizing the capacities of existing agencies and mortgage
finance institutions when most efficient and supplementing their
activities when appropriate; and
(13) to assist very low-income and low-income families to
obtain the skills and knowledge necessary to become responsible
homeowners and tenants.