,i #aacth ,,congress #ast ,session ,h4 ,r4 #acig ,,in ,,the ,,house ,,of ,,representatives ,march #ba1 #bjac ,ms4 ,waters 7for herself1 ,mr4 ,ellison1 ,mr4 ,cicilline1 ,mrs4 ,beatty1 ,ms4 ,bass1 ,mrs4 ,christensen1 ,ms4 ,eddie ,bernice ,johnson of ,texas1 ,ms4 ,wilson of ,florida1 ,mr4 ,payne1 ,ms4 ,sewell of ,alabama1 ,mr4 ,david ,scott of ,georgia1 ,mr4 ,johnson of ,georgia1 ,mr4 ,cleaver1 ,mr4 ,hastings of ,florida1 ,mr4 ,veasey1 ,mr4 ,richmond1 ,mr4 ,clyburn1 ,mr4 ,watt1 ,mr4 ,thompson of ,mississippi1 and ,ms4 ,edwards7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to create jobs and reinvest in communities through the rehabilitation of abandoned and foreclosed residential and commercial properties1 and for other purposes4 #a4 ,short title and table of contents 7a7 ,short title ,this ,act may be cited as the ,project ,rebuild ,act of #bjac4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title and table of contents4 ,sec4 #b4 ,direct appropriations4 ,sec4 #c4 ,allocation of appropriated amounts4 ,sec4 #d4 ,use of funds4 ,sec4 #e4 ,limitations4 ,sec4 #f4 ,rules of construction4 ,sec4 #g4 ,authority to specify alternative requirements4 ,sec4 #h4 ,nationwide distribution of resources4 ,sec4 #i4 ,limitation on use of funds with respect to eminent domain4 ,sec4 #aj4 ,limitation on distribution of funds4 ,sec4 #aa4 ,rental housing preferences4 ,sec4 #ab4 ,job creation4 ,sec4 #ac4 ,program support and capacity building4 ,sec4 #ad4 ,enforcement and prevention of fraud and abuse4 ,sec4 #ae4 ,conformance of policies and procedures4 ,sec4 #af4 ,severability4 ,sec4 #ag4 ,buy ,american--use of ,american iron1 steel1 and manufactured goods4 ,sec4 #ah4 ,wage rate and employment protection requirements4 #b4 ,direct appropriations ,there is appropriated1 out of any money in the ,treasury not otherwise appropriated1 #ae1jjj1jjj1jjj1 to remain available until ,september #cj1 #bjaf1 for assistance to eligible entities1 including ,states and units of general local government 7as such terms are defined in section #ajb of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjb771 and qualified nonprofit organizations1 businesses or consortia of eligible entities1 for the redevelopment of abandoned and foreclosed-upon properties and for the stabilization of affected neighborhoods4 #c4 ,allocation of appropriated amounts 7a7 ,in general ,of the amounts appropriated1 two-thirds shall be allocated to ,states and units of general local government based on a funding formula established by the ,secretary of ,housing and ,urban ,development 7in this ,act referred to as the ,secretary74 ,of the amounts appropriated1 one-third shall be distributed competitively to eligible entities4 7b7 ,formula ,to be devised swiftly ,the funding formula required under subsection 7a7 shall be established and the ,secretary shall announce formula funding allocations1 not later than #cj days after the date of enactment of this ,act4 7c7 ,formula criteria ,the ,secretary may establish a minimum grant size1 and the funding formula required under subsection 7a7 shall ensure that any amounts appropriated or otherwise made available under this ,act are allocated to ,states and units of general local government with the greatest need1 as such need is determined in the discretion of the ,secretary based on-- 7#a7 the number and percentage of home foreclosures in each ,state or unit of general local government2 7#b7 the number and percentage of homes in default or delinquency in each ,state or unit of general local government2 and 7#c7 other factors such as established program designs1 grantee capacity and performance1 number and percentage of commercial foreclosures1 overall economic conditions1 and other market needs data1 as determined by the ,secretary4 7d7 ,competition criteria 7#a7 ,eligible entities ,for the funds distributed competitively1 eligible entities shall be ,states1 units of general local government1 nonprofit entities1 for-profit entities1 and consortia of eligible entities that demonstrate capacity to use funding within the period of this program4 7#b7 ,selection criteria ,in selecting grantees1 the ,secretary shall ensure that grantees are in areas with the greatest number and percentage of residential and commercial foreclosures and other market needs data1 as determined by the ,secretary4 ,additional award criteria shall include demonstrated grantee capacity to execute projects involving acquisition and rehabilitation or redevelopment of foreclosed residential and commercial property and neighborhood stabilization1 leverage1 knowledge of market conditions and of effective stabilization activities to address identified conditions1 and any additional factors determined by the ,secretary4 7#c7 ,minimum grant size ,the ,secretary may establish a minimum grant size4 7#d7 ,publication of criteria ,the ,secretary shall publish competition criteria for any grants awarded under this ,act not later than #fj days after appropriation of funds1 and applications shall be due to the ,secretary within #abj days4 #d4 ,use of funds 7a7 ,obligation and expenditure ,the ,secretary shall obligate all funding within #aej days of enactment of this ,act4 ,any eligible entity that receives amounts pursuant to this ,act shall expend all funds allocated to it within three years of the date the funds become available to the grantee for obligation4 ,furthermore1 the ,secretary shall by notice establish intermediate expenditure benchmarks at the one and two year dates from the date the funds become available to the grantee for obligation4 7b7 ,priorities 7#a7 ,job creation ,each grantee or eligible entity shall describe how its proposed use of funds will prioritize job creation1 and secondly1 will address goals to stabilize neighborhoods1 reverse vacancy1 or increase or stabilize residential and commercial property values4 7#b7 ,targeting ,any ,state or unit of general local government that receives formula amounts pursuant to this ,act shall1 in distributing and targeting such amounts give priority emphasis and consideration to those metropolitan areas1 metropolitan cities1 urban areas1 rural areas1 low- and moderate-income areas1 and other areas with the greatest need1 including those-- 7,a7 with the greatest percentage of home foreclosures2 7,b7 identified as likely to face a significant rise in the rate of residential or commercial foreclosures2 and 7,c7 with higher than national average unemployment rate4 7#c7 ,leverage ,each grantee or eligible entity shall describe how its proposed use of funds will leverage private funds4 7c7 ,eligible uses ,amounts made available under this ,act may be used to-- 7#a7 establish financing mechanisms for the purchase and redevelopment of abandoned and foreclosed-upon properties1 including such mechanisms as soft-seconds1 loan loss reserves1 and shared-equity loans for low- and moderate-income homebuyers2 7#b7 purchase and rehabilitate properties that have been abandoned or foreclosed-upon1 in order to sell1 rent1 or redevelop such properties2 7#c7 establish and operate land banks for properties that have been abandoned or foreclosed-upon2 7#d7 demolish blighted structures2 7#e7 redevelop abandoned1 foreclosed1 demolished1 or vacant properties2 and 7#f7 engage in other activities1 as determined by the ,secretary through notice1 that are consistent with the goals of creating jobs1 stabilizing neighborhoods1 reversing vacancy reduction1 and increasing or stabilizing residential and commercial property values4 #e4 ,limitations 7a7 ,on purchases ,any purchase of a property under this ,act shall be at a price not to exceed its current market value1 taking into account its current condition4 7b7 ,rehabilitation ,any rehabilitation of an eligible property under this ,act shall be to the extent necessary to comply with applicable laws1 and other requirements relating to safety1 quality1 marketability1 and habitability1 in order to sell1 rent1 or redevelop such properties or provide a renewable energy source or sources for such properties4 7c7 ,sale of homes ,if an abandoned or foreclosed-upon home is purchased1 redeveloped1 or otherwise sold to an individual as a primary residence1 then such sale shall be in an amount equal to or less than the cost to acquire and redevelop or rehabilitate such home or property up to a decent1 safe1 marketable1 and habitable condition4 7d7 ,on demolition of public housing ,public housing1 as defined in section #c7;b77#f7 of the ,united ,states ,housing ,act of #aicg1 may not be demolished with funds under this ,act4 7e7 ,on demolition activities ,no more than #aj percent of any grant made under this ,act may be used for demolition activities unless the ,secretary determines that such use represents an appropriate response to local market conditions4 7f7 ,on use of funds for non-,residential property ,no more than #cj percent of any grant made under this ,act may be used for eligible activities under paragraphs 7#a71 7#b71 and 7#e7 of section #d7;c7 that will not result in residential use of the property involved unless the ,secretary determines that such use represents an appropriate response to local market conditions4 #f4 ,rules of construction 7a7 ,in general ,except as otherwise provided by this ,act1 amounts appropriated1 revenues generated1 or amounts otherwise made available to eligible entities under this ,act shall be treated as though such funds were community development block grant funds under title ,i of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecja et seq474 7b7 ,no match ,no matching funds shall be required in order for an eligible entity to receive any amounts under this ,act4 7c7 ,tenant protections ,an eligible entity receiving a grant under this ,act shall comply with the #adth1 #agth1 #ahth1 #aith1 #bjth1 #bast1 #bbnd1 and #bcrd provisos of the heading ,community ,planning and ,development--,community ,development ,fun in title ,,xii of ,division ,a of the ,american ,recovery and ,reinvestment ,act of #bjji 7,public ,law #aaa-e1 #abc ,stat4 #bah-ai71 as amended by section #adig7;b77#b7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc1 #abd ,stat4 #bbaa74 7d7 ,vicinity hiring ,an eligible entity receiving a grant under this ,act shall comply with section #adig7;a77#h7 of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act 7,public ,law #aaa-bjc1 #abi ,stat4 #bbaj74 #g4 ,authority to specify alternative requirements 7a7 ,in general ,in administering the program under this ,act1 the ,secretary may specify alternative requirements to any provision under title ,i of the ,housing and ,community ,development ,act of #aigd or under title ,i of the ,cranston-,gonzalez ,national ,affordable ,housing ,act of #aiij 7except for those provisions in these laws related to fair housing1 nondiscrimination1 labor standards1 and the environment7 for the purpose of expediting and facilitating the use of funds under this ,act4 7b7 ,notice ,the ,secretary shall provide written notice of intent to the public via internet to exercise the authority to specify alternative requirements under subsection 7a74 7c7 ,low- and moderate-,income requirement 7#a7 ,in general ,notwithstanding the authority of the ,secretary under subsection 7a7-- 7,a7 all of the formula and competitive grantee funds appropriated or otherwise made available under this ,act shall be used with respect to individuals and families whose income does not exceed #abj percent of area median income2 and 7,b7 not less than #be percent of the formula and competitive grantee funds appropriated or otherwise made available under this ,act shall be used for the purchase and redevelopment of eligible properties that will be used to house individuals or families whose incomes do not exceed #ej percent of area median income4 7#b7 ,recurrent requirement ,the ,secretary shall1 by rule or order1 ensure1 to the maximum extent practicable and for the longest feasible term1 that the sale1 rental1 or redevelopment of abandoned and foreclosed-upon homes and residential properties under this ,act remain affordable to individuals or families described in paragraph 7#a74 #h4 ,nationwide distribution of resources ,notwithstanding any other provision of this ,act1 each ,state shall receive not less than #bj1jjj1jjj of formula funds4 #i4 ,limitation on use of funds with respect to eminent domain ,no ,state or unit of general local government may use any amounts received pursuant to this ,act to fund any project that seeks to use the power of eminent domain1 unless eminent domain is employed only for a public use1 which shall not be construed to include economic development that primarily benefits private entities4 #aj4 ,limitation on distribution of funds 7a7 ,in general ,none of the funds made available under this ,act shall be distributed to-- 7#a7 an organization which has been indicted for a violation under ,federal law relating to an election for ,federal office2 or 7#b7 an organization which employs applicable individuals4 7b7 ,applicable individuals defined ,in this section1 the term applicable individual means an individual who-- 7#a7 is-- 7,a7 employed by the organization in a permanent or temporary capacity2 7,b7 contracted or retained by the organization2 or 7,c7 acting on behalf of1 or with the express or apparent authority of1 the organization2 and 7#b7 has been indicted for a violation under ,federal law relating to an election for ,federal office4 #aa4 ,rental housing preferences ,each ,state and local government receiving formula amounts shall establish procedures to create preferences for the development of affordable rental housing4 #ab4 ,job creation ,if a grantee chooses to use funds to create jobs by establishing and operating a program to maintain eligible neighborhood properties1 not more than #aj percent of any grant may be used for that purpose4 #ac4 ,program support and capacity building ,the ,secretary may use up to #j4ge percent of the funds appropriated for capacity building of and support for eligible entities and grantees undertaking neighborhood stabilization programs1 staffing1 training1 technical assistance1 technology1 monitoring1 travel1 enforcement1 research1 and evaluation activities1 subject to the following requirements3 7#a7 ,funds set aside for the purposes of this section shall remain available until ,september #cj1 #bjah4 7#b7 ,any funds made available under this section and used by the ,secretary for personnel expenses related to administering funding under this subparagraph shall be transferred to ,personnel ,compensation and ,benefits1 ,community ,planning and ,development4 7#c7 ,any funds made available under this section and used by the ,secretary for training or other administrative expenses shall be transferred to ,administration1 ,operations1 and ,management1 ,community ,planning and ,development for non-personnel expenses4 7#d7 ,any funds made available under this section and used by the ,secretary for technology shall be transferred to ,working ,capital ,fund4 #ad4 ,enforcement and prevention of fraud1 waste1 and abuse ,the ,secretary shall establish and implement procedures to prevent fraud and abuse of funds under this ,act1 and shall impose a requirement that grantees have an internal auditor to continuously monitor grantee performance to prevent fraud1 waste1 and abuse4 ,grantees shall provide the ,secretary and citizens with quarterly progress reports4 ,the ,secretary shall recapture funds from formula and competitive grantees that do not expend #ajj percent of allocated funds within #c years of the date that funds become available1 and from underperforming or mismanaged grantees1 and shall re-allocate those funds by formula to target areas with the greatest need1 as determined by the ,secretary through notice4 ,the ,secretary may take an alternative sanctions action only upon determining that such action is necessary to achieve program goals in a timely manner4 #ae4 ,conformance of policies and procedures ,the ,secretary of ,housing and ,urban ,development shall to the extent feasible conform policies and procedures for grants made under this ,act to the policies and practices already in place for the grants made under section #bcja of the ,housing and ,economic ,recovery ,act of #bjjh2 division ,a1 title ,,xii of the ,american ,recovery and ,reinvestment ,act of #bjji2 or section #adig of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act4 #af4 ,severability ,if any provision of this ,act1 or the application thereof to any person or circumstance1 is held invalid1 the remainder of the ,act and the application of such provision to other persons or circumstances shall not be affected thereby4 #ag4 ,buy ,american--use of ,american iron1 steel1 and manufactured goods 7a7 ,buy ,american ,none of the funds appropriated or otherwise made available by this ,act may be used for a project for the construction1 alteration1 maintenance1 or repair of a public building or public work unless all of the iron1 steel1 and manufactured goods used in the project are produced in the ,united ,states4 7b7 ,exceptions ,subsection 7a7 shall not apply in any case or category of cases in which the head of the ,federal department or agency involved finds that-- 7#a7 applying subsection 7a7 would be inconsistent with the public interest2 7#b7 iron1 steel1 and the relevant manufactured goods are not produced in the ,united ,states in sufficient and reasonably available quantities and of a satisfactory quality2 or 7#c7 inclusion of iron1 steel1 and manufactured goods produced in the ,united ,states will increase the cost of the overall project by more than #be percent4 7c7 ,publication ,if the head of a ,federal department or agency determines that it is necessary to waive the application of subsection 7a7 based on a finding under subsection 7b71 the head of the department or agency shall publish in the ,federal ,register a detailed written justification as to why the provision is being waived4 7d7 ,consistency with international agreements ,this section shall be applied in a manner consistent with ,united ,states obligations under international agreements4 #ah4 ,wage rate and employment protection requirements 7a7 ,wage rates ,notwithstanding any other provision of law and in a manner consistent with other provisions in this ,act1 all laborers and mechanics employed by contractors and subcontractors on projects funded directly by or assisted in whole or in part by and through the ,federal ,government pursuant to this ,act shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the ,secretary of ,labor in accordance with subchapter ,,iv of chapter #ca of title #dj1 ,united ,states ,code4 7b7 ,labor standards ,with respect to the labor standards specified in this section1 the ,secretary of ,labor shall have the authority and functions set forth in ,reorganization ,plan ,numbered #ad of #aiej 7#fd ,stat4 #abfg2 #e ,u4,s4,c4 ,app47 and section #cade of title #dj1 ,united ,states ,code4 7c7 ,projects ,projects as defined under title #di1 ,united ,states ,code1 funded directly by or assisted in whole or in part by and through the ,federal ,government pursuant to this ,act shall be subject to the requirements of section #eccc7;b7 of title #di1 ,united ,states ,code4