Page:United States Statutes at Large Volume 122.djvu/2740

 12 2 STA T . 2 7 17 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 provide d w i thsuc h g r an ta m ounts ) sha l l compl y with and b e operated in compliance with —‘ ‘ (A ) laws relating to tenant protections and tenant rights to participate in decision ma k ing regarding their residences ‘‘( B ) laws re q uiring public participation, including laws relating to C onsolidated P lans, Q uali f ied Allocation Plans, and Public H ousing Agency Plans; and ‘‘(C) fair housing laws and laws regarding accessibility in federally assisted housing, including section 504 of the R ehabilitation Act of 1973. ‘‘(9) ELIG I B L ER E C I P IE NTS .— G rant amounts allocated to a S tate or State designated entity under this subsection may be provided only to a recipient that is an organi z ation, agency, or other entity (including a for - profit entity or a nonprofit entity) that— ‘‘(A) has demonstrated e x perience and capacity to con- duct an eligible activity under paragraph (7), as evidenced by its ability to— ‘‘(i) own, construct or rehabilitate, manage, and operate an affordable multifamily rental housing development; ‘‘(ii) design, construct or rehabilitate, and market affordable housing for homeownership; or ‘‘(iii) provide forms of assistance, such as down payments, closing costs, or interest rate buy-downs for purchasers; ‘‘(B) demonstrates the ability and financial capacity to undertake, comply, and manage the eligible activity; ‘‘(C) demonstrates its familiarity with the requirements of any other F ederal, State, or local housing program that will be used in con j unction with such grant amounts to ensure compliance with all applicable requirements and regulations of such programs; and ‘‘( D ) makes such assurances to the State or State des- ignated entity as the Secretary shall, by regulation, require to ensure that the recipient will comply with the require- ments of this subsection during the entire period that begins upon selection of the recipient to receive such grant amounts and ending upon the conclusion of all activities under paragraph ( 8 ) that are engaged in by the recipient and funded with such grant amounts. ‘‘(10) L I M IT A TI O NS ON U SE.— ‘‘(A) RE Q UIRE D AMOUNT F OR H OMEO W NERSHIP ACTI V I- TIES.— O f the aggregate amount allocated to a State or State designated entity under this subsection not more than 10 percent shall be used for activities under subpara- graph (B) of paragraph (7). ‘‘(B) DEADLINE FOR COMMITMENT OR USE.—Grant amounts allocated to a State or State designated entity under this subsection shall be used or committed for use within 2 years of the date that such grant amounts are made available to the State or State designated entity. T he Secretary shall recapture any such amounts not so used or committed for use and reallocate such amounts under this subsection in the first year after such recapture. Regulations.

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