Statement of purposes
The purpose of this section is to authorize the Secretary to make grants to eligible grantees including private nonprofit organizations, Indian tribes, general units of local government, counties, States, and consortia of other eligible grantees, in order to—
(1)
(1)#
rehabilitate or replace single family housing in rural areas which is owned by low- and very low-income persons and families, and
(2)#
rehabilitate or replace rental properties or cooperative housing which has a membership resale structure that enables the cooperative to maintain affordability for persons of low income in rural areas serving low- and very low-income occupants.