§53 [urban Renewal.]

Summary

The Secretary of Housing and Urban Development may make grants up to $25,000,000 for urban renewal projects in Alaska, including open land projects, under section 111 of the Housing Act of 1949 to help rebuild and redevelop communities after the 1964 earthquake and its seismic waves. These grants are in addition to and separate from any grants under section 103(b) of that Act. The Secretary may raise the capital grant to as much as 90 percent of the net project cost when a major part of the project area was made unusable by the 1964 earthquake or is needed to provide new places for people, businesses, or facilities displaced by the quake.