§ 4. Contracts for single room housing projects. (a) The corporation
may enter into contracts with corporations incorporated under the
not-for-profit corporation law for the carrying out by such corporations
of a single room housing project.

(b) Prior to entering into a contract pursuant to this section the
corporation shall have made a finding that the corporation which
proposes to contract with the corporation is a bona fide organization
which shall have demonstrated by its past and current activities that it
has the ability to preserve, repair, maintain, renovate, rehabilitate,
manage or operate single room housing accommodations and that the
project is to be substantially occupied by persons of lower income.

(c) Each contract entered into pursuant to this section shall provide
for payment to the corporation for single room housing project
activities to be carried out by it. The full amount of the contract, or
any appropriate portion thereof, as determined by the corporation, shall
be available for payment at any time on or after the effective date of
the contract.

(d) No more than fifty percent of the total amount originally
appropriated pursuant to this act in any fiscal year shall be allocated
to projects located within any single municipality.