PUBLIC LAWS-CH. 338-JULY 15, 1949 Redevelopment of prject areas. Provision of public buildings or facilities. hereby established, and in such manner as will encourage and assist (1) the production of housing of sound standards of design, construc- tion, livability, and size for adequate family life; (2) the reduction of the costs of housing without sacrifice of such sound standards; (3) the use of new designs, materials, techniques, and methods in residen- tial construction, the use of standardized dimensions and methods of assembly of home-building materials and equipment, and the increase of efficiency in residential construction and maintenance; (4) the development of well-planned, integrated, residential neighbor- hoods and the development and redevelopment of communities; and (5) the stabilization of the housing industry at a high annual volume of residential construction. TITLE I-SLUM CLEARANCE AND COMMUNITY DEVELOPMENT AND REDEVELOPMENT LOCAL RESPONSIBILITIES SEc. 101. In extending financial assistance under this title, the Administrator shall- (a) give consideration to the extent to which appropriate local public bodies have undertaken positive programs (1) for encour- aging housing cost reductions through the adoption, improvement, and modernization of building and other local codes and regula- tions so as to permit the use of appropriate new materials, tech- niques, and methods in land and residential planning, design, and construction, the increase of efficiency in residential construction, and the elimination of restrictive practices which unnecessarily increase housing costs, and (2) for preventing the spread or recurrence, in such community, of slums and blighted areas through the adoption, improvement, and modernization of local codes and regulations relating to land use and adequate standards of health, sanitation, and safety for dwelling accommodations; and (b) encourage the operations of such local public agencies as are established on a State, or regional (within a State), or unified metropolitan basis or as are established on such other basis as permits such agencies to contribute effectively toward the solu- tion of commlrullity developnlenlt or redeveloplment problems on a State, or regional (within a State), or unified metropolitan basis. LOANS SEC. 102. (a) To assist local communities in eliminating their slums and blighted areas and in providing maximum opportunity for the redevelopment of project areas by private enterprise, the Adminis- trator may make temporary and definitive loans to local public agencies for the undertaking of projects for the assembly, clearance, prepara- tion, and sale and lease of land for redevelopment. Such loans (out- standing at any one time) shall be in such amounts not exceeding the expenditures to be made by the local public agency as part of the gross project cost, bear interest at such rate (not less than the appli- cable going Federal rate), be secured in such manner, and be repaid within such period (not exceeding, in the case of definitive loans, forty years from the date of the bonds evidencing such loans), as may be deemed advisable by the Administrator. (b) In connection with any project on land which is open or pre- dominantly open, the Administrator may make temporary loans to municipalities or other public bodies for the provision of public build- ings or facilities necessary to serve or support the new uses of land in the project area. Such temporary loans shall be in such amounts 414 [63 STAT.
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