§424. Rentals; families acceptable as tenants

(a) In the administration of any low-cost housing or slum-clearance project described in section 421 of this title, the Administrator of General Services shall fix the rentals at an amount at least sufficient to pay (1) all necessary and proper administrative expenses of the project; (2) such sums as will suffice to repay, within a period not exceeding sixty years, at least 55 per centum of the initial cost of the project, together with interest at such rate as he deems advisable.

(b) Dwelling accommodations in such low-cost housing or slum-clearance projects shall be available only to families who lack sufficient income, without the benefit of financial assistance, to enable them to live in decent, safe, and sanitary dwellings and under other than overcrowded housing conditions: Provided, That no family shall be accepted as a tenant in any such project whose aggregate income exceeds five times the rental of the quarters to be furnished such family. The term "rental" as used in this subsection includes the average cost (as determined by the Administrator of General Services) of heat, light, water, and cooking, where such services are not supplied by the lessor and included in the rent.

(June 29, 1936, ch. 860, §4, 49 Stat. 2026 ; 1939 Reorg. Plan No. I, §§301, 305, eff. July 1, 1939, 4 F.R. 2729, 53 Stat. 1426, 1428; Ex. Ord. No. 9357, eff. June 30, 1943, 8 F.R. 9041; June 30, 1949, ch. 288, title I, §103(a), 63 Stat. 380 .)

Transfer of Functions

Functions of Federal Works Agency and of all agencies thereof, together with functions of Federal Works Administrator transferred to Administrator of General Services by section 103(a) of act June 30, 1949, which is classified to section 753(a) of this title. Federal Works Agency and office of Federal Works Administrator abolished by section 103(b) of act June 30, 1949.

Federal Emergency Administration of Public Works consolidated into Federal Works Agency to be administered as Public Works Administration by Reorg. Plan No. I of 1939. Functions of Public Works Administration and Commissioner of Public Works Agency transferred to Federal Works Administrator by Ex. Ord. No. 9357.

Effective Date of Transfer of Functions

Transfer of functions by act June 30, 1949, effective July 1, 1949, see section 605 of act June 30, 1949, set out as an Effective Date note under section 471 of this title.