42 U.S.C. § 8101 : US Code - Section 8101: Congressional findings and declaration of purpose

Search 42 U.S.C. § 8101 : US Code - Section 8101: Congressional findings and declaration of purpose

(a) The Congress finds that -
(1) the neighborhood housing services demonstration of the
Urban Reinvestment Task Force has proven its worth as a
successful program to revitalize older urban neighborhoods by
mobilizing public, private, and community resources at the
neighborhood level; and
(2) the demand for neighborhood housing services programs in
cities throughout the United States warrants the creation of a
public corporation to institutionalize and expand the
neighborhood housing services program and other programs of the
present Urban Reinvestment Task Force.
(b) The purpose of this subchapter is to establish a public
corporation which will continue the joint efforts of the Federal
financial supervisory agencies and the Department of Housing and
Urban Development to promote reinvestment in older neighborhoods by
local financial institutions working cooperatively with community
people and local government, and which will continue the
nonbureaucratic approach of the Urban Reinvestment Task Force,
relying largely on local initiative for the specific design of
local programs.