106 STAT. 3700 PUBLIC LAW 102-550— OCT. 28, 1992

"(A) any public housing agency that is not designated
as troubled pursuant to section 6(jX2);

"(B) any public housing agency or private housing
management agent selected, or receiver appointed pursu-
ant, to section 6(j)(3);

"(C) any public housing agency that is designated as
troubled pursuant to section 6(jX2), if such agency acts
in concert with a private nonprofit organization, another
public housing agency that is not designated as a troubled
agency, resident management corporation or other entity
approved by the Secretary; and

"(D) any public housing agency that is designated as
troubled pursuant to section 6(j)(2) that —

"(i) is so designated principally for reasons that
will not affect the capacity of the agency to carry
out a revitalization program;

"(ii) is making substantial progress toward
eliminating the deficiencies of the agency; or

"(iii) is otherwise determined by the Secretary to

be capable of carrying out a revitalization program.

"(2) PRIVATE NONPROFIT CORPORATION.— The term 'private

nonprofit organization* means any private nonprofit organiza-

tion (including a State or locally chartered nonprofit organiza-

tion) that —

"(A) is incorporated under State or local law;
"(B) has no part of its net earnings inuring to the
benefit of any member, founder, contributor, or individual;
"(C) complies with standards of financial accountability
acceptable to the Secretary; and

"(D) has among its purposes significant activities
related to the provision of decent housing that is affordable
to very low-income families.

"(3) PUBLIC HOUSING AGENCY.— The term 'public housing
agency* has the meaning given the term in section 3(b), except
that it does not include any Indian housing authority.

"(4) RESIDENT MANAGEMENT CORPORATION. — The term 'resi-
dent management corporation' means a resident management
corporation established in accordance with the requirements
of the Secretary under section 20.

"(5) SEVERELY DISTRESSED PUBLIC HOUSING.— The term
'severely distressed public housing* means a public housing
project—

"(i) requires major redesign, reconstruction or
redevelopment, or partial or total demolition, to correct
serious deficiencies in the original design (including
appropriately high population density), deferred
maintenance, physical deterioration or obsolescence of
major systems and other deficiencies in the physical
plant of the project;

"(ii) is occupied predominantly by families with.
children who are in a severe state of distress,
characterized by such factors as high rates of
unemployment, teenage pregnancy, single-parent
households, long-term dependency on public assistance
and minimal educational achievement;