A bill entitled "The Urban Development Action Grant Project Quality Restoration Act of 1984."

Amends the Housing and Community Development Act of 1974 to require the Secretary of Housing and Urban Development, in ranking the priority of projects to receive urban development action grants, to give substantial weight (at least 49 percent) to the consideration of the following criteria: (1) the performance of a city or urban county in housing and community development programs; (2) the extent of private capital leveraging to be stimulated; (3) the number of jobs to be created, especially for low-income persons and minorities; (4) the impact of the proposed activities on the fiscal base of the city or county; (5) the extent to which State or local government funding or special economic incentives have been committed; and (6) project feasibility.