PUBLIC LAW 102-550—OCT. 28, 1992 106 STAT. 3865

(i) may restrict any regulated financial institution's
receipt of an extension of credit from, or investment by,
an eligible organization;

(ii) may restrict the making, by a regulated financial
institution or holding company, of an extension of credit
to, or investment in, an eligible organization; and

(iii) shall prohibit any transaction that poses an undue
risk to the affected deposit insurance fund.
(C) To the extent practicable, the Secretary and the Federal
financial supervisory agencies shall coordinate the development
of regulations and other program guidelines.

(15) SAFETY AND SOUNDNESS OF INSURED DEPOSITORIES.—
Nothing in this section shall limit the applicability of other
law relating to the safe and sound operation and management
of a regulated financial institution (or a holding company) affili-
ated with an eligible organization or receiving assistance pro-
vided under this section.

(16) EFFECTIVE DATE.—This section shall become effective
6 months from the date of enactment of this Act.

SEC. 854. EMERGENCY ASSISTANCE FOR LOS ANGELES.

(a) IN GENERAL.—Of the funds made available under 107(b)
of the Housing and Community Development Act of 1974 for pur-
poses of this section, $3,000,000 shall be made available to each
of the following:

(1) A nonprofit community-based public benefit corporation
which was created in response to the civil disturbances of
April 29,1992, through May 6,1992, in Los Angeles, California,
with the support of the Speaker of the California State Assem-
bly and community elected officials representing the affected
areas.

(2) A nonprofit public benefit corporation established by
the Mayor of Los Angeles and the Governor of California.

(b) USE OF FUNDS.—Such funds shall be used to carry out
a community revitalization strategy in areas for which the Presi-
dent, pursuant to title IV or V ofthe Robert T. Stafford Disaster
Relief and Emergency Assistance Act, declared that a major disaster
or emergency existed for the purposes of such Act, as a result
of the civil disturbances involving acts of violence occurring on
or after April 29,1992, and before May 6,1992.

(c) STRATEGY.—Such strategy shall—

(1) include efforts to create jobs in distressed neighbor-
hoods, spur community-based economic development, improve
housing accessibility and affordability, and address other
community development needs; and

(2) be developed in consultation with low-income residents
and community leaders in the distressed areas.

(d) ELIGIBLE ACTIVITIES.—Funds made available under this
subsection may be used for eligible activities pursuant to section
105 of the Housing and Community Development Act of 1974 or
to provide seed capital to nonprofit community development corpora-
tions to carry out the strategy developed in subsection (cX2).

(e) MATCH REQUIRED.—Funds provided under this section shall
be matched with private or public non-Federal funds in an amount
not less than 50 percent of the funds provided under this section.