(1)the term “community-based nonprofit housing developer” means a nonprofit community development corporation that—
(A)has been classified by the Internal Revenue Service as an exempt organization under section
501(c)(3) of title
(B)has been in existence for at least 2 years prior to the date of the grant application;
(C)has a record of service to low- and moderate-income people in the community in which the project is located;
(D)is organized at the neighborhood, city, county or multi-county level; and
(E)in the case of a corporation acquiring eligible housing under subchapter I of this chapter, agrees to form a purchaser entity that conforms to the definition of a community-based nonprofit organization under such subchapter and agrees to use its best efforts to secure majority tenant consent to the acquisition of the project for which grant assistance is requested; and
(2)the terms “eligible low-income housing”, “nonprofit organization”, “owner”, and “resident council” have the meanings given such terms in section
4119 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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