r'Aeco:nlnaylng ea& 1o"o, cont@ct1 ,Epp,qaved. annus,l cor:trlb.

Ltlons

tf

the Sre,sldent, toS1ft

Ho4s!.ng

ls

aR

c*ntract tn rrhfcb, thE Urtted States

&rthod.ty pros-

lses to:aakE anaqal coatrthrt{oqE of, not mofe tfren fSl+S of ,the total- developnent cost to local houslng proJects.
Srese a,nnrra.1 contrlbr:.tlons et'e ete
.betweon the'econonLc

t&e br1d.g to naintain low rentals by bridglng

gap

rsnt

neeesse,r;r

to nalntein aqd'operate tlre proJects tinelrrdi

End,

ln6 Lnterosg d;$& alcortlsa,tlon of the loan)

famil"las

of the *lums ea.t 1lay.

*rictr lor*tncoue ,rent e annrrsl contributloas.agds ty tha,USd4 to

ttre soelal

assura Low rents ar"o to be stg:plenrented by contrihrtlons

fnrn the Ioca.l

..

conrTrrnlty

to brlng rents stil-I loser.

Corunenting on ttre

l"atest ilevelopuent ln the

s1r:n cile.ara{lee,sanp*ign, Mr.

Straus

saLcl:

trlt ls

funportant

to note thet ttre rnajority of all tlre sltes selected so far

by loca1 housln6 authortttes bLlghted areas.

for

new

p$Jects ectr:ally afe in ver;r bd. slwre or

'

ttBte'lJRJ.ted $tates l{olrslng Aet ,reguiree the ,clfurlnatlon

bf

one slrrn drettlng

unit, for rery naw fa.mlly d.welI-lng un*t b;rll-t rrith a Ug,gA loan. $very one of our contracts for a Loan bas been predleated. r4on USA, the loca.l authorlttas
and, t,}re

firn

arrangements betreen ther.

nlnfctga"Utles to c4rrjr orrt tlre teqrlvaleat

Se

ellminatlonl provlslons of the

lar.

nust d.o t*rls rrhether we tulLd d.lrectly

in the slrln

..

areas or on vacant sLtes.

' ,' ,

''tl$a$otition of slurns, howeverr srust the f{.nanctal, reach'of slr:rn dnellers.

tlAccorrling
.

'

'

rre*

accon3:anled. by

new houslng

rtt*ltn

to the carefrdly

,,

ohecked. ancl rechecked. schedr:-les

':. :

of

d.eveLopment
I
I

and opere,tlon costs Ea4e

tf

tfre

USl, tfis lenta.fs b

be cbanged

ln the aell dne1l(inort)

tngs nllJ. be on the saine general level- as those contenpl-ated und.er previous loan