Community Development Amendments

Community Development Amendments - Amends the Housing and Community Development Act of 1974 to define "age of housing" and "extent of growth lag." Authorizes funds to be appropriated for the purpose of making grants to States and units of local governments to help finance community development programs, not to exceed: $3,500,000,000 for fiscal year 1978; $3,650,000,000 for fiscal year 1979; and $3,800,000,000 for fiscal year 1980. Limits amounts of appropriated funds which may be used to aid metropolitan cities, urban counties, and other units of local government within metropolitan areas to meet their hold-harmless needs.

Authorizes funds not to exceed $400,000,000, to be appropriated for each of fiscal years 1978, 1979, and 1980 for the purpose of assisting severely distressed cities that require supplemental grant assistance in order to alleviate excessive deterioration through neighborhood reclamation and community revitalization.

Includes among activities eligible for assistance under this Act: (1) the financing of public or private acquisition for purposes or rehabilitation; and (2) activities carried out by public or private nonprofit entities which are necessary or appropriate in meeting the needs and objectives of approved community development plans.

Sets forth the formulae which the Secretary of Housing and Urban Development must follow in order to determine the amount to be allocated to each metropolitan city and urban county and the distribution of remaining funds.

Authorizes the Secretary to make urban development action grants to severely distressed cities to help alleviate physical and economic deterioration through community revitalization in areas of population out-migration or stagnating or declining tax base. Reserves urban development action grants to only those cities that have demonstrated results in providing housing for persons of low- and moderate-income and in providing equal opportunity in housing and employment for low- and moderate-income persons and members of minority groups. List information to be included in applications for such grants, including a description of a concentrated Urban Development Action Program. Directs the Secretary to establish criteria to be followed in selecting cities to be recipients of such grants.

Amends the Housing Act of 1964 to extend the rehabilitation loan program through fiscal year 1979.

Authorizes appropriations for fiscal year 1978 for comprehensive planning under the Housing Act of 1954.