Neighborhood Preservation and Rehabilitation Amendments

Neighborhood Preservation and Rehabilitation Amendments - Declares it to be the finding of Congress that neighborhoods in United States cities have deteriorated due to lack of public facilities and a lack of capital resources to rehabilitate and maintain such neighborhoods

States that private financing is increasingly unavailable in such neighborhoods and declares it to be the purpose of this Act to establish a neighborhood preservation and rehabilitation program.

Authorizes to be appropriated specified amounts for fiscal years 1976, 1977, and 1978, for grants under the Housing and Community Development Act of 1974. States that such grants shall be for units of general local government to assist them in carrying out programs to improve basic community facilities and services in designated neighborhood preservation areas.

States that an area proposed by a unit of general local government as a neighborhood preservation area must be found by the Secretary of Housing and Urban Development to have a reasonable prospect of being restored or maintained. Requires, as a second condition for receiving a grant under this Act, that an application by a unit of general local government include a three-year rehabilitation plan, and that the Secretary find this plan to be workable.

Declares that, in fiscal year 1976, grants will be made to between ten and 20 cities, including at least two with populations of less than 100,000, and in fiscal years 1977 and 1978, grants will be made to between five and ten cities, of which at least one each year must be a city with a population of less than 100,000.

Directs the Secretary to prepare guidelines and regulations setting forth the details of the program's administration.

Authorizes the Secretary, under the Housing and Urban Development Act of 1970, to make mortgage insurance available to facilitate the refinancing of mortgages covering housing located in neighborhood preservation areas.