Statement of-Continued Kile, Elton, president, National Associated Businessmen_ Knox, P. S., Jr., representing the Prefabricated Home Manufacturers' Latham, Hon. Henry J., a Representative in Congress from the State LeMay, Gen. Curtis E., commander in chief, Strategic Air Command. Mason, Norman P., Commissioner, Federal Housing Administration. Mead, Hon. Donald H., mayor, Syracuse, N. Y., representing the American Municipal Association. Meister, Karl P., accompanied by Dr. Herman Wilson, representing Mitchell, Clarence, representing the National Association for the Page 644 626 603 581 510 427 523 Moss, Hon. John, a Representative in Congress from the State of 623 Murphy, Rev. Wallace J., representing the Property Owners Asso- 494 Northup, H. R., representing National Retail Lumber Dealers Asso- ciation. 641 O'Grady, Rt. Rev. Msgr. John, National Conference of Catholic 573 Olson, Clarence H., representing the American Legion, accompanied 243 Patton, Ira M., manager, Dinkler-Tutwiler Hotel, Birmingham, Ala., Patton, James G., president, National Farmers Union.. Robbins, Ira S., chairman of the board, National Housing Conference, Inc., accompanied by Edward F. Barry, president_- Rogers, Hon. Paul G., a Representative in Congress from the State of 475 621 Rouse, James W., accompanied by Sam Neal, representing the Mort- 566 Russell, Fred J., president, Wherry Housing Association. Seely-Brown, Hon. Horace, Jr., a Representative in Congress from Severin, Nels G., representing National Association of Home Builders Shiskin, Boris, secretary, Housing Committee, AFL-CIO; accompanied Simmons, A. R., president, First Federal Savings and Loan Associ- Sipprell, Robert D., president, National Association of Housing and Slusser, Charles E., Commissioner, Public Housing Administration.. Stelling, John H., Sr., president, Stelling Village, Inc., Tampa, Fla. - Teague, Hon. Olin E., a Representative in Congress from the State 409 191 635 320 627 Vieser, Milford A., accompanied by Norman Carpenter and Ehney A. Camp, Jr., representing the American Life Convention and the Weitzer, Bernard, representing the Jewish War Veterans of the 248 Additional data submitted to the committee by: AFL-CIO Housing Committee: Page. Letter of May 16, 1956, in re public housing data requested by 289 New private nonfarm dwelling units started per 10,000 nonfarm 273 American Municipal Association: Federal National Mortgage Association: Letter of May 23, 1956, to Hon. Brent Spence, in re Report No. 4 76 Gas Appliance Manufacturers Association and National Electrical 654 Holtzman, Hon. Lester: Letter of May 21, 1956, from Leigh M. Medine, chairman, Con- 601 Analysis of Report No. 1 of the Subcommittee on Housing- Slum clearance and urban renewal.. Analysis of Report No. 2 of the Subcommittee on Housing- LeMay, Gen. Curtis E.: Letter of May 25, 1956: Occupancy at Tampa Bay Gardens, 597 Chart 9. Average rates of income and costs on nonfarm mortgage 466 National Association of Housing and Redevelopment Officials: 337 Letter of May 29, 1956, extension of remarks of Lawrence M. Cox. Family housing projects approved for development under title VIII of the National Housing Act, as amended by Public Law Letter of May 25, 1956, to Hon. Brent Spence.. Letter of June 4, 1956, to Hon. Brent Spence... Patton, Ira M., American Hotel Association: Exhibit I. Model form of certificate of incorporation for use under 334 Exhibit II. Establishment of maximum rents and charges in projects operating under sections 207, 608, and title VIII. Public Housing Administration: Advantages of annual contributions instead of capital grants... 111 111 Ogle, J. Orlando, chairman, Housing Authority of the Birmingham 65 Retail Merchants Association, Alexandria, Va., letter of May 9, 1956.. Berthold S. Pollack Hospital, letter of May 31, 1956 Berry, Mayor Bernard J., Jersey City, N. J. letter and statement Wherry Housing Association: Title VIII, Wherry housing projects 420 Wolcott, Hon. Jesse P.: Memorandum on suggested changes to 420 HOUSING ACT OF 1956 MONDAY, MAY 7, 1956 HOUSE OF REPRESENTATIVES, COMMITTEE ON BANKING AND CURRENCY, NEW HOUSE OFFICE BUILDING, Washington, D. Ca The committee met at 10 a. m., Hon. Brent Spence (chairman) presiding. Present: Messrs. Spence (presiding), Brown, Rains, Multer, O'Hara, Mrs. Sullivan, Messrs. Fountain, Wolcott, Talle, Kilburn, McDonough, Widnall, Betts, McVey, Hiestand, Nicholson, and Bolton. The CHAIRMAN. The committee will be in order. We will consider H. R. 10157. There have been many bills introduced, including the administration bill, H. R. 9537. We will be glad to have the help of all of those who are interested in the subject so that we may cover the field of housing as thoroughly as possible. (The bill is as follows:) [H. R. 10157, 84th Cong., 2d sess.] A BILL To extend and amend laws relating to the provision and improvement of housing and the conservation and development of urban communities, and for other purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Housing Act of 1956". TITLE I-FHA INSURANCE PROGRAMS PROPERTY IMPROVEMENT LOANS SEC. 101. (a) Section 2 (a) of the National Housing Act is amended by striking out "September 30, 1956" and inserting in lieu thereof "September 30, 1958". (b) Section 2 (b) of such Act is amended (b) by striking out "made for the purpose of financing the alteration, repair, or improvement of existing structures exceeds $2,500, or for the purpose of financing the construction of new structures exceeds $3,000" and inserting in lieu thereof "exceeds $3,500"; (2) by striking out "three years" and inserting in lieu thereof "five years"; and (3) by striking out "$10,000" and inserting in lieu thereof "$15,000 nor an average amount of $2,500 per family unit." (c) Section 2 (b) of such Act is further amended by striking out “Provided, That" and inserting in lieu thereof the following: "Provided, That any such obligation with respect to which insurance is granted under this section on or after the date of the enactment of this proviso shall bear interest, and insurance premium charges, not exceeding (A) an amount, with respect to so much of the obligation as does not exceed $1,000, equivalent to $5 discount per $100 of original face amount of a one-year note payable in equal monthly installments, plus (B) an amount, with respect to any portion of the obligation in excess of $1,000, equivalent to $4 discount per $100 of original face amount of such a note: Provided further, That." 1 HAZARD INSURANCE ON FHA-ACQUIRED PROPERTIES SEC. 102. Title I of the National Housing Act is amended by adding at the end thereof the following new section: "HAZARD INSURANCE ON FHA-ACQUIRED PROPERTIES "SEC. 10. (a) Notwithstanding any other provision of law, the Commissioner is authorized to establish a Fire and Hazard Loss Fund which shall be available to provide such fire and hazard risk coverage as the Commissioner, in his discretion, may determine to be appropriate with respect to real property acquired and held by him under the provisions of this Act. For the purpose of operating such fund, the Commissioner is authorized in the name of the fund to transfer moneys and require payment of premiums or charges from any one or more of the several insurance funds established by this Act and from the account established pursuant to section 2 (f) of this Act, in such amounts and in such manner, including repayments of such moneys, as the Commissioner in his discretion shall determine. In carrying out the authority created by this section, the Commissioner and the Fire and Hazard Loss Fund shall be exempt from all taxation, assessments, levies, or license fees now or hereafter imposed by the United States or any Territory or possession thereof, or by any State, county, municipality, or local taxing authority. Moneys in the Fire and Hazard Loss Fund not needed for current operations of the fund shall be deposited with the Treasurer of the United States to the credit of the fund or invested in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States or in bonds or other obligations which are lawful investments for fiduciary, trust, and public funds of the United States. "(b) Notwithstanding the provisions of subsection (a), the Commissioner is authorized to purchase such other insurance protection as he may in his discretion determine, and he may further provide for reinsurance of any risk assumed by the Fire and Hazard Loss Fund." RENTAL HOUSING INSURANCE SEC. 103. (a) Section 207 (c) (2) of the National Housing Act is amended by striking out "80 per centum" and inserting in lieu thereof "90 per centum". (b) Section 207 (c) (3) of such Act is amended to read as follows: "(3) not to exceed, for such part of such property or project as may be attributable to dwelling use, $2,250 per room (or $8,100 per family unit if the number of rooms in such property or project is less than four per family unit) or not to exceed $1,000 per space or $300,000 per mortgage for trailer courts or parks: Provided, That as to projects to consist of elevator type structures, the Commissioner may, in his discretion, increase the dollar amount limitation of $2,250 per room to not to exceed $2,700 per room and the dollar amount limitation of $8,100 per family unit to not to exceed $8,400 per family unit, as the case may be, to compensate for the higher costs incident to the construction of elevator type structures of sound standards of construction and design; except that the Commissioner may, by regulation, increase any of the foregoing dollar amount limitations per room by not to exceed $1,000 per room in any geographical area where he finds that cost levels so require." (c) Section 207 (c) of such Act is further amended by striking out the unnumbered paragraph immediately following paragraph (3). COOPERATVE HOUSING INSURANCE SEC. 104. (a) Section 213 (a) of the National Housing Act is amended(1) by striking out "or" at the end of paragraph (1); (2) by inserting "or" at the end of paragraph (2); (3) by adding after paragraph (2) the following new paragraph : "(3) a mortgagor, aproved by the Commissioner, which (A) has certified to the Commissioner, as a condition of obtaining the insurance of a mortgage under this section, that upon completion of the property or project covered by such mortgage it intends to sell such property or project to a nonprofit corporation or nonprofit trust of the character described in paragraph (1) of this subsection at the actual cost of such property or project as certified pursuant to section 227 of this Act and will faithfully and diligently make and carry out all reasonable efforts to consummate such sale, and (B) shall |