Housing for the Elderly and Handicapped Act of 1983

[AI summary unavailable — showing source text] Housing for the Elderly and Handicapped Act of 1983 - Amends the Housing Act of 1959 to limit to 9.25 percent per year the interest rate plus the allowance for administrative costs and probable losses on loans for the provision of housing and related facilities for elderly or handicapped families. Allows a maximum of 25 percent of the units in an elderly or handicapped housing project financed under such Act to be efficiencies, if the Secretary of Housing and Urban Development determines that such units are appropriate for the local elderly or handicapped population. Prohibits the Secretary from establishing general limitations or preferences concerning the number of units in a project or the number of units made available to any sponsor. Authorizes the Secretary to require a corporation to deposit in a special escrow account a minimum capital investment of up to $10,000 with respect to an assisted project. Directs the Secretary to: (1) consider design features necessary for elderly and handicapped residents when establishing cost limitations on project units; and (2) adjust such limitations annually to reflect changes in construction costs. Requires the project sponsor to determin…