(2) CLEARINGHOUSE.-The term "clearinghouse" means- (B) the Office of Community Investment (or other comparable division) within the Federal Housing Finance Board; and (C) any national nonprofit organizations (including any nonprofit entity established by the corporation established under title IX of the Housing and Community Development Act of 1968) that the Corporation determines has the capacity to act as a clearinghouse for information. (3) CORPORATION.-The term "Corporation" means the Federal Deposit Insurance Corporation acting in its corporate capacity or its capacity as receiver. (4) ELIGIBLE CONDOMINIUM PROPERTY.-The term "eligible condominium property" means a condominium unit, as such term is defined in section 604 of the Housing and Community Development Act of 1980 (A) to which such Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the amount provided in section 203(b)(2)(A) of the National Housing Act except that such amount shall not exceed $101,250 in the case of a 1-family residence, $114,000 in the case of a 2-family residence, $138,000 in the case of a 3-family residence, and $160,000 in the case of a 4-family residence. (5) ELIGIBLE MULTIFAMILY HOUSING PROPERTY.-The term "eligible multifamily housing property" means a property consisting of more than 4 dwelling units (A) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the applicable dollar amount specified in section 221(d)(3)(ii) of the National Housing Act for elevator-type structures, as such dollar amount is increased under such section for geographical areas or on a project-by-project basis (except that any such increase on a project-by-project basis shall be made pursuant to a determination by the Corporation that such increase is necessary). (6) ELIGIBLE RESIDENTIAL PROPERTY.-The term "eligible residential property" includes eligible single family properties and eligible multifamily housing properties. (7) ELIGIBLE SINGLE FAMILY PROPERTY.-The term "eligible single family property" means a 1- to 4-family residence (including a manufactured home)— (A) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the amount provided in section 203(b)(2)(A) of the National Housing Act except that such amount shall not exceed $101,250 in the case of a 1-family residence, $114,000 in the case of a 2-family residence, $138,000 in the case of a 3-family residence, and $160,000 in the case of a 4-family residence. (8) LOW-INCOME FAMILIES.-The term "low-income families" means families and individuals whose incomes do not exceed 80 percent of the median income of the area involved, as determined by the Secretary, with adjustment for family size. (9) NET REALIZABLE MARKET VALUE.-The term "net realizable market value" means a price below the market value that takes into account (A) any reductions in holding costs resulting from the expedited sale of a property, including foregone real estate taxes, insurance, maintenance costs, security costs, and loss of use of funds, and (B) the avoidance, if applicable, of fees paid to real estate brokers, auctioneers, or other individuals or organizations involved in the sale of property owned by the Corporation. (10) NONPROFIT ORGANIZATION.-The term "nonprofit organization" means a private organization (including a limited equity cooperative)— (A) no part of the earnings of which inures to the benefit of any member, shareholder, founder, contributor, or individual; and (B) that is approved by the Corporation as to financial responsibility. (11) PUBLIC AGENCY.-The term "public agency" means any Federal, State, local, or other governmental entity, and includes any public housing agency. (12) QUALIFYING HOUSEHOLD.-The term "qualifying household" means a household (A) who intends to occupy eligible single family property as a principal residence; (B) who agrees to occupy the property as a principal residence for at least 12 months; (C) who certifies in writing that the household intends to occupy the property as a principal residence for at least 12 months; and (D) whose income does not exceed 115 percent of the median income for the area, as determined by the Secretary, with adjustment for family size. (13) QUALIFYING MULTIFAMILY PURCHASER.-The term "qualifying multifamily purchaser” means— (A) a public agency; (B) a nonprofit organization; or (C) a for-profit entity, which makes a commitment (for itself or any related entity) to comply with the low-income occupancy requirements under subsection (d)(7) for any eligible multifamily housing property for which an offer to purchase is made during or after the periods specified under subsection (d). (14) Secretary.-The term "Secretary" means the Secretary of Housing and Urban Development. (15) STATE HOUSING FINANCE AGENCY.-The term "State housing finance agency" means the public agency, authority, corporation, or other instrumentality of a State that has the authority to provide residential mortgage loan financing throughout the State. (16) VERY LOW-INCOME FAMILIES.-The term "very low-income families" means families and individuals whose incomes do not exceed 50 percent of the median income of the area involved, as determined by the Secretary, with adjustment for family size. (q) NOTICE TO CLEARINGHOUSES REGARDING INELIGIBLE PROPERTIES. (1) IN GENERAL.-Within a reasonable period of time after acquiring title to an ineligible residential property, the Corporation shall, to the extent practicable, provide written notice to clearinghouses. (2) CONTENT.-For ineligible single family properties, such notice shall contain the same information about such properties that the notice required under subsection (c)(1) contains with respect to eligible single family properties. For ineligible multifamily housing properties, such notice shall contain the same information about such properties that the notice required under subsection (d)(1) contains with respect to eligible multifamily housing properties. For ineligible condominium properties, such notice shall contain the same information. about such properties that the notice required under subsection (1)(1) contains with respect to eligible condominium properties. (3) AVAILABILITY.-The clearinghouses shall make such information available, upon request, to other public agencies, other nonprofit organizations, qualifying households, qualifying multifamily purchasers, and other purchasers, as appropriate. (4) DEFINITIONS.-For purposes of this subsection, the following definitions shall apply: (A) INELIGIBLE CONDOMINIUM PROPERTY.-The term "ineligible condominium property" means any eligible condominium property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (B) INELIGIBLE MULTIFAMILY HOUSING PROPERTY.-The term "ineligible multifamily housing property" means any eligible multifamily housing property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (C) INELIGIBLE SINGLE FAMILY PROPERTY.-The term "ineligible single family property" means any eligible single family property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A). (D) INELIGIBLE RESIDENTIAL PROPERTY.-The term "ineligible residential property" includes ineligible single family properties, ineligible multifamily housing properties, and ineligible condominium properties. * NATIONAL INSTITUTE OF BUILDING SCIENCES EXCERPT FROM HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974 [Public Law 93-383; 88 Stat. 729; 12 U.S.C. 1701j-2] NATIONAL INSTITUTE OF BUILDING SCIENCES SEC. 809. [12 U.S.C. 1701j-2] (a)(1) The Congress finds (A) that the lack of an authoritative national source to make findings and to advise both the public and private sectors of the economy with respect to the use of building science and technology in achieving nationally acceptable standards and other technical provision for use in Federal, State, and local housing and building regulations is an obstacle to efforts by and imposes severe burdens upon all those who procure, design, construct, use, operate, maintain, and retire physical facilities, and frequently results in the failure to take full advantage of new and useful developments in technology which could improve our living environment; (B) that the establishment of model buildings codes or of a single national building code will not completely resolve the problem because of the difficulty at all levels of government in updating their housing and building regulations to reflect new developments in technology, as well as the irregularities and inconsistencies which arise in applying such requirements to particular localities or special local conditions; (C) that the lack of uniform housing and building regulatory provisions increases the costs of construction and thereby reduces the amount of housing and other community facilities which can be provided; and (D) that the existence of a single authoritative nationally recognized institution to provide for the evaluation of new technology could facilitate introduction of such innovations and their acceptance at the Federal, State, and local levels. (2) The Congress further finds, however, that while an authoritative source of technical findings is needed, various private organizations and institutions, private industry, labor, and Federal and other governmental agencies and entities are presently engaged in building research, technology development, testing, and evaluation, standards and model code development and promulgation, and information dissemination. These existing activities should be encouraged and these capabilities effectively utilized wherever possible and appropriate to the purposes of this section. (3) The Congress declares that an authoritative nongovernmental instrument needs to be created to address the problems and issues described in paragraph (1), that the creation of such an instrument should be initiated by the Government, with the advice and assistance of the National Academy of Sciences-National Academy of Engineering-National Research Council (hereinafter referred to as the "Academies-Research Council") and of the various |