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Section 524 Loans
Section 524 loans are land acquisition and development loans in the United States that are authorized under Section 524 of the federal Housing Act of 1949 (42 U.S.C. 1441 et seq.). Nonprofit organizations and Indian tribes may obtain loans from the Rural Housing Service (RHS) to purchase and develop land that is to be subdivided into building sites for housing low-income and moderate-income families. The loans are made for a 2-year period. Sites financed through Section 524 have no restrictions on the methods by which the homes are financed or constructed. The interest rate on Section 524 site loans is the U.S. Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and t ... cost of funds. References *{{CRS, article = Report for Congress: Agriculture: A Glossary of Terms, Programs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Act Of 1949
The American Housing Act of 1949 () was a landmark, sweeping expansion of the federal role in mortgage insurance and issuance and the construction of public housing. It was part of President Harry Truman's program of domestic legislation, the Fair Deal. Background During the Roosevelt administration the National Housing Act of 1934 which established the Federal Housing Administration (FHA) and the Housing Act of 1937 were signed into law, the latter of which directed the federal government to subsidize local public housing agencies. On April 12, 1945 the passing of President Franklin D. Roosevelt propelled Harry S. Truman Vice President into the seat of Presidency. Truman secured the Democratic nomination in 1948 presidential election, with a platform promising to provide for slum clearance and low-rent housing projects. Truman was elected to a full term in 1948 with the Democrats also reclaiming the House of Representatives and the Senate. In his 1949 State of the Union addres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nonprofit Organizations
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tribe (Native American)
In the United States, an American Indian tribe, Native American tribe, Alaska Native village, tribal nation, or similar concept is any extant or historical clan, tribe, band, nation, or other group or community of Native Americans in the United States. Modern forms of these entities are often associated with land or territory of an Indian reservation. "Federally recognized Indian tribe" is a legal term of art in United States law with a specific meaning. An Indian tribe recognized by the United States government usually possesses tribal sovereignty, a "dependent sovereign nation" status with the Federal Government that is similar to that of a state in some situations, and that of a nation in others. Depending on the historic circumstances of recognition, the degree of self-government and sovereignty varies somewhat from one tribal nation to another. Legal definition in the United States The term ''tribe'' is defined in the United States for some federal government purposes t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rural Housing Service
The Rural Housing Service (RHS) is an agency of the United States Department of Agriculture (USDA). Located within the Department's Rural Development mission area. RHS operates a broad range of programs to provide moderate- low- and very-low-income Americans in rural communities with: *homeownership options to individuals, including direct home loans and mortgage guarantees; * housing rehabilitation and preservation funding; *grants to non-profits who organize self-help housing services in rural communities; *rental assistance to tenants of RHS-funded multi-family housing complexes; * farm labor housing; *help to developers of multi-family housing projects, like assisted housing for the elderly and disabled, or apartment buildings; and *community facilities, such as libraries, child care centers, schools, municipal buildings, veterans shelters and firefighting equipment to Indian groups, nonprofit organizations, communities and local governments. RHS administers direct loans, l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Low-income
Poverty is the state of having few material possessions or little . Poverty can have diverse , , and causes and effects. When evaluating poverty in statistics or economics there are two main measures: '''' compares income against the amount needed to meet [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
