Page:United States Statutes at Large Volume 108 Part 1.djvu/375

 PUBLIC LAW 103-233—APR. 11, 1994 108 STAT. 349 "(ii) the contract shall provide that, when a vacancy occurs in any unit in the project requiring project-based rental assistance pursuant to this subparagraph that is occupied by a family who is not eligible for assistance under such section 8, the owner shall lease the available unit to a family eligible for assistance under such section 8. "(C) EXCEPTIONS.— "(i) AUTHORITY. —In lieu of providing project-based assistance under section 8 of the United States Housing Act of 1937 in accordance with subparagraph (A)(i) or (B)(i) for a project, the Secretary may, for certsdn units in unsubsidized projects located within the same market area as the project otherwise required to be assisted with such project-based assistance— "(I) require use and rent restrictions providing that such units shall be available to and affordable by very low-income families for the remaining useful life of the project (as defined by the Secretary), or "(II) provide project-based assistance under section 8 for such units to be occupied by only very low-income persons, but only if the requirements under clause (ii) are met. "(ii) REQUIREMENTS.— The requirements under this clause are that— "(I) upon the disposition of the project otherwise required to be assisted with project-based assistance under subparagraph (A)(i) or (B)(i), the Secretary shall make available tenant-based assistance under section 8 to low-income families residing in units otherwise required to be assisted with such project-based assistance; and "(II) the number of units subject to use restrictions or provided assistance under clause (i) shall be at least equivalent to the number of units otherwise required to be assisted with project-based assistance under section 8 in accordance with subparagraph (A)(i) or (B)(i). "(D) UNSUBSIDIZED PROJECTS. —Notwithstanding actions taken pursuant to subparagraph (C), in the case of unsubsidized projects, the contract shall be sufficient to provide— "(i) project-based rental assistance for all units that are covered, or were covered immediately before foreclosure or acquisition, by an assistance contract under— "(I) the new construction and substantial rehabilitation program under section 8(b)(2) of the United States Housing Act of 1937 (as in effect before October 1, 1983); "(II) the property disposition program under section 8(b) of such Act; "(III) the project-based certificate program under section 8 of such Act; "(IV) the moderate rehabilitation program under section 8(e)(2) of such Act;

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