Multifamily Housing Rehabilitation Act of 1982

[AI summary unavailable — showing source text] Multifamily Housing Rehabilitation Act of 1982 - Defines an "eligible multifamily housing property" as: (1) a property located in a neighborhood in which at least 51 percent of the residents have an income not exceeding 80 percent of the median area income; a neighborhood in which at least 35 percent of the residents have an income not exceeding 80 percent of the median area income and which is experiencing a trend toward low-income occupancy of available housing; or an area designated as a Target Preservation Area, or a Neighborhood Strategy Area; or (2) any property which is having a blighting influence on the neighborhood where it is located if, after rehabilitation, project rents would be affordable to low-and moderate- income families. Defines "moderate rehabilitation" as rehabilitation which: (1) costs between $1,000 and $20,000; (2) brings the property into compliance with local code requirements, or involves the repair of systems or appliances which would require repair within five years or which achieve cost or energy efficiency; and (3) involves cosmetic improvements or the repair or replacement of the plumbing, heating, elevator, electrical systems, windows, stairs, floo…