PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3699 "(C) the extent of involvement of local public and private entities in the development of a revitalization program for the project and in the provision of supportive services to project residents; "(D) the potential of the applicant for developing a successful ana affordable revitalization program and the suitability of the project for such a program; "(E) national geographic diversity among housing for which applicants are selected to receive assistance; "(F) the extent of the need for and potential impact of the revitalization program; and "(G) such other factors that the Secretary determines are appropriate for purposes of carrying out the program established by this subtitle in an effective and efficient manner. "(5) NOTIFICATION.—The Secretary shall notify each applicant, not later than 6 months after the date of the submission of the application, whether the application is approved or disapproved. "(e) EXCEPTIONS TO GENERAL PROGRAM REQUIREMENTS.— "(1) LONG-TERM VIABILITY. — The Secretary may waive or revise rules established under this title governing rents, income eligibility, and other areas of public housing management, to permit a public housing agency to undertake measures that enhance the long-term viability of a severely distressed public housing project revitalized under this section. "(2) SELECTION OF TENANTS. —For projects revitalized under this section, a public housing agency may select tenants pursuant to a local system of preferences, in lieu of selecting tenants pursuant to the preferences specified under section 6(c)(4)(A)(i). Such local system shall be established in writing and shall respond to local housing needs and priorities as determined by the public housing agency. The public housing agency shall hold 1 or more public hearings to obtain the views of lowincome tenants and other interested parties on the housing needs and priorities of the agency's jurisdiction. "(f) OTHER PROGRAM REQUIREMENTS. — "(1) COST LIMITATIONS.—Subject to the provisions of this section, the Secretary— "(A) shall establish cost limitations on eligible activities under this section sufficient to provide for effective revitalization programs; and " (B) may establish other cost limitations on eligible activities under this section. "(2) ECONOMIC DEVELOPMENT.— Not more than an aggregate of $250,000 from amounts made available under subsections (c) and (d) may be used for economic development activities under subsections (c) and (d) for any project, except that the Secretary may for good cause waive the applicability of this paragraph for a project. "(g) ADMINISTRATION.—For the purpose of carrying out the revitalization of severely distressed public housing in accordance with this section, the Secretary shall establish within the Department of Housing and Urban Development an Office of Severely Distressed Public Housing Revitalization. "(h) DEFINITIONS.—For the purposes of this section: "(1) APPLICANT,—The term 'applicant' means—
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