U.S. Code
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Title 12
» Chapter CHAPTER 47— COMMUNITY DEVELOPMENT BANKING › Subchapter SUBCHAPTER II— SMALL BUSINESS CAPITAL ENHANCEMENT
12 U.S.C. § 4104
ADDITIONAL AUTHORITIES OF THE SECRETARY.
“The Secretary may take such actions as the Secretary deems necessary to carry out the authorities in this subtitle, including, without limitation, the following:“(1) The Secretary may use the services of any agency or instrumentality of the United States or component thereof on a reimbursable basis, and any such agency or instrumentality or component thereof is authorized to provide services as requested by the Secretary using all authorities vested in or delegated to that agency, instrumentality, or component.“(2) The Secretary may enter into contracts, including contracts for services authorized by section 3109 of title 5, United States Code.“(3) The Secretary may designate any bank, savings association, trust company, security broker or dealer, asset manager, or investment adviser as a financial agent of the Federal Government and such institution shall perform all such reasonable duties related to this subtitle as financial agent of the Federal Government as may be required. The Secretary shall have authority to amend existing agreements with financial agents, entered into during the 2-year period before the date of enactment of this Act [Sept. 27, 2010], to perform reasonable duties related to this subtitle.“(4) The Secretary may exercise any rights received in connection with any preferred stock or other financial instruments or assets purchased or acquired pursuant to the authorities granted under this subtitle.“(5) Subject to section 4103(b)(3), the Secretary may manage any assets purchased under this subtitle, including revenues and portfolio risks therefrom.“(6) The Secretary may sell, dispose of, transfer, exchange or enter into securities loans, repurchase transactions, or other financial transactions in regard to, any preferred stock or other financial instrument or asset purchased or acquired under this subtitle, upon terms and conditions and at a price determined by the Secretary.“(7) The Secretary may manage or prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this subtitle.“(8) The Secretary may establish and use vehicles, subject to supervision by the Secretary, to purchase, hold, and sell preferred stock or other financial instruments and issue obligations.“(9) The Secretary may, in consultation with the Administrator of the Small Business Administration, issue such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities or purposes of this subtitle.
Notes of Decisions
Cienega Gardens v. United States, 67 Fed. Cl. 434 (Fed. Cl. 2005).
“12 U.S.C. § 4104 . Owners could gain access to a portion of the preservation equity through provision of insurance for a second mortgage loan.”
Anaheim Gardens v. United States, 33 Fed. Cl. 24 (Fed. Cl. 1995).
· cites it 2× “In the present suit, plaintiffs have identified the major financial incentive available to them under LIHPRHA — the eight percent annual authorized return, 12 U.S.C. § 4104 (a) 12 — but they have argued in favor of a retroactive entitlement to it through a significantly less…”
CCA Assocs. v. United States, 75 Fed. Cl. 170 (Fed. Cl. 2007).
“12 U.S.C. § 4104 (b). HUD then would determine if the aggregate-preservation rents for a property exceeded an aggregate statutory cap, which was determined by “multiplying 120 percent of the fair market rental (established [in accord with statutory procedures]) for the market…”
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