63 STAT.] 81ST CONG., 1ST SESS.-CH. 338 -JULY 15, 1949 body that (i) the financial aid to be provided in the contract is necessary to enable the land in the project area to be redeveloped in accordance with the redevelopment plan; (ii) the redevelop- ment plans for the redevelopment areas in the locality will afford maximum opportunity, consistent with the sound needs of the locality as a whole, for the redevelopment of such areas by private enterprise; and (iii) the redevelopment plan conforms to a general plan for the development of the locality as a whole; (b) When land acquired or held by the local public agency in connection with the project is sold or leased, the purchasers or lessees shall be obligated (i) to devote such land to the uses speci- fied in the redevelopment plan for the project area; (ii) to begin the building of their improvements on such land within a reason- able time; and (iii) to comply with such other conditions as the Administrator finds, prior to the execution of the contract for loan or capital grant pursuant to this title, are necessary to carry out the purposes of this title; (c) There be a feasible method for the temporary relocation of families displaced from the project area, and that there are or are being provided, in the project area or in other areas not generally less desirable in regard to public utilities and public and commer- cial facilities and at rents or prices within the financial means of the families displaced from the project area, decent, safe, and sanitary dwellings equal in number to the number of and available to such displaced families and reasonably accessible to their places of employment: Provided, That in view of the existing acute housing shortage, each such contract entered into prior to July 1, 1951, shall further provide that there shall be no demoli- tion of residential structures in connection with the project assisted under the contract prior to July 1, 1951, if the local gov- erning body determines that the demolition thereof would reason- ably be expected to create undue housing hardship in the locality. (d) No land for any project to be assisted under this title shall be acquired by the local public agency except after public hear- ing following notice of the date, time, place, and purpose of such hearing. GENERAL PROVISIONS SEC. 106. (a) In the performance of, and with respect to, the func- tions, powers, and duties vested in him by this title the Administrator, notwithstanding the provisions of any other law, shall- (1) appoint a Director to administer the provisions of this title under the direction and supervision of the Administrator and the basic rate of compensation of such position shall be the same as the basic rate of compensation established for the heads of the constituent agencies of the Housing and Home Finance Agency; (2) prepare annually and submit a budget program as pro- vided for wholly owned Government corporations by the Gov- ernment Corporation Control Act, as amended; (3) maintain an integral set of accounts which shall be audited annually by the General Accounting Office in accordance with the principles and procedures applicable to commercial transactions as provided by the Government Corporation Control Act, as amended, and no other audit shall be required: Provided, That such financial transactions of the Administrator as the making of advances of funds, loans, or capital grants and vouchers approved by the Administrator in connection with such finan- cial transactions shall be final and conclusive upon all officers of the Government; and 81939°-50 -PT . I - - -27 417 Temporary reloca- tion of displaced fam- ilies. Restriction ondem- olition of residential structures. Public hearing on land acquisition. Appointment of Di- rector. Budget program. 59 Stat. 597 . 31U.S.C.§841et seq.; Supp. II, §846 et seq. Ante, p. 356 . Accounts.