Public Law 81–127

That, notwithstanding the provisions of section 3709 as amended, of the Revised Statutes of the United States, or any other provision of law, the Public Housing Commissioner is hereby authorized, by means of negotiated sale or sales and without competitive bidding or public advertising, to sell and convey, at fair market value as determined by him on the basis of an appraisal made by an independent real-estate expert selected by the Commissioner and subject to such terms and conditions as he may determine to be in the best public interest, to such purchaser or purchasers as he deems to be responsible, all right, title, and interest of the United States in or to all or any part of the suburban resettlement projects known as Greenbelt, Maryland; Greendale, Wisconsin; and Greenhills, Ohio (including improved and unimproved lands, war housing constructed on lands of or adjacent to said suburban resettlement projects, and personal property used in connection with said projects or housing): Provided, however, That the Public Housing

Veteran preference.

Commissioner shall, during such period as he deems to be reasonable, give a first preference in such negotiated sale or sales to veteran groups organized on a nonprofit basis (provided that any such group shall accept as a member of its organization, on the same terms, subject to the same conditions, and with the same privileges and responsibilities, required of, and extended to other members of the group, any tenant occupying a dwelling unit in such project at any time during such period as the Commissioner shall deem appropriate, starting on the effective date of this Act, and who shall be a tenant therein at the time of making application for such membership), and may sell to such groups at fair market value (as determined by him on the basis stated above) or at cost (as determined by him, including the apportioned cost of structures, lands, appurtenances, and personal property transferred, together with the apportioned share of the cost of all utilities and other facilities provided for and common to the project of which any property being sold is a part), whichever is lower, except, however, that in the event two or more such groups desire to purchase any such project they shall be required to submit sealed bids therefor and the award shall be made on the basis of the highest acceptable monetary return to the Government: And provided further, That evidence is furnished to the Commissioner, satisfactory to him, that the compensation paid or to be paid for organizing such groups, for negotiating the purchase of such property, and for financing such purchase is fair in relation to the purchase price and reasonable on the basis of time effectively devoted to such services on a professional or similar basis: And provided further, That in the event

Down payment.

of a sale other than for cash, the Commissioner shall require a down payment of at least 10 per centum of the total purchase price, the balance to be amortized over a period of not more than twenty-five years, the unpaid balance to bear interest at the rate of 4 per centum per annum and the payment of any unpaid balance to be secured by a first mortgage or deed of trust against the properties sold. The

Transfer of buildings, etc.

Commissioner is authorized, as a condition of any sale hereunder, to transfer, or to require the transfer or an agreement for the transfer of, streets, roads, public buildings, federally owned utilities, playgrounds, swimming pools, and parks, including adequate open land surrounding or adjacent to each project, to the appropriate non-Federal governmental agency, at such times, to such an extent, and upon such terms and conditions as he shall determine to be in the public interest.

Sec. 2.

As used in this Act, (1) the term “veteran” means any

“Veteran.”

person who shall have served in the active military or naval service of the United States at any time on or after September 16, 1940, and prior to July 26, 1947, and who shall have been discharged or released from active service under conditions other than dishonorable, and (2)

“Groups organized on a nonprofit basis.”

the term “groups organized on a nonprofit basis” shall include but not be limited to, mutual ownership or cooperative housing associations or limited dividend corporations which by the terms of their charters and bylaws have limited their rate of return to a rate no higher than the Public Housing Commissioner deems reasonable and necessary.