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- Authorizes insurance of advances of mortgage proceeds for self- help housing programs. Provides for a minimum downpayment of 3 percent of acquisition cost. SECTION 236 MULTIFAMILY RENTAL PROGRAM Title II, Section 212 - Extends the authority to insure projects until June 30, 1976. Authorizes the use of existing contract authority estimated at 145 million dollars and adds an additional 75 million dollars to bring total available contract authority to 220 million dollars. New authority can be used when a community has identified its special housing needs and demonstrated that these needs cannot be met under the new Housing Assistance Payments (HAP) program of the 1974 act. (The HUD appropriations act for fiscal year 1975 mandates the release of Section 236 authority concurrently with the authorizations for the new HAP). Increases the maximum statutory mortgage limits by approximately 20 percent over current levels. Consolidates ,the 'ren, t supplement" program. within the Section 236 program by requiring additiona!assi. stance f, or .2,0 percent of families in all, new developments who cannot afford to pay the basic rentals within 25 percent of their incomes. - Establishes a minimum rental equal to utility costs. Establishes the income limits at initial occupancy at 80 percent of median income for the area, with adjustments for smaller or larger families, with authority to the Secretary of HUD to adjust these limits because of prevailing levels of construction costs, unusually low or high median incomes, or other factors. Provides for additional federal assistance payments to a project owner based on increases in taxes and utility costs, not in excess of amounts necessary to maintain basic rentals for any units not in excess of 30 percent of family income. & Autho. rizes the use of not less than 10 percent of total cont,r, act amounts for ne,w, development or rehabilitated housing. 000112