U.S Code last checked for updates: Nov 22, 2024
§ 12785.
REACH: asset recycling information dissemination
(a)
In general
(b)
Eligible properties
An eligible property under this section shall—
(1)
be an unoccupied single-family or multifamily dwelling, such that acquisition and rehabilitation of the dwelling would not result in the displacement of any residents of the dwelling; and
(2)
have an appraised value that does not exceed (A) in the case of a 1- to 4-family dwelling, 95 percent of the median purchase price for the area for such dwellings, as determined by the Secretary, or (B) in the case of a dwelling with more than 4 units, the applicable maximum dollar amount limitation under section 1715l(d)(3)(ii) of title 12 for elevator-type structures.
(Pub. L. 101–625, title II, § 245, Nov. 28, 1990, 104 Stat. 4119.)
cite as: 42 USC 12785