A bill to amend the Housing Act of 1949.

[AI summary unavailable — showing source text] Authorizes the Secretary of Housing and Urban Development, upon request of the local governing body, to waive local grant-in-aid for an urban renewal project funded by the Housing Act of 1949. Makes such waiver contingent upon the Secretary's determination that specified conditions are met. Requires that in lieu of the grant-in-aid the local government must commit an amount from local funds equivalent to the local grant-in-aid to a community development program area.…