Page:United States Statutes at Large Volume 123.djvu/1706

 123STA T . 1 68 6 PUBLIC LA W 111 – 22 —M A Y 2 0, 200 9ofactiv iti esd esc r i b edi np ara g rap h(1) or( 2 )ofs u bsection (a) and the pro j ect ceases to provide transitiona l or per m anent housing —‘ ‘( A ) earlier than 1 0y ears after operation of the project begins , the S ecretary shall re q uire the recipient or project sponsor to repay 100 percent of the assistance or ‘‘( B ) not earlier than 10 years, but earlier than 1 5 years, after operation of the project begins, the Secretary shall require the recipient or project sponsor to repay 20 percent of the assistance for each of the years in the 15 - year period for w hich the project fails to provide that housing . ‘‘(2) PREV E NTIO NO FU N D UE B ENEFIT S .— Ex cept as provided in paragraph ( 3 ), if any property is used for a project that receives assistance under subsection (a) and consists of activi- ties described in paragraph (1) or (2) of subsection (a), and the sale or other disposition of the property occurs before the expiration of the 15-year period beginning on the date that operation of the project begins, the recipient or project sponsor who received the assistance shall comply with such terms and conditions as the Secretary may prescribe to prevent the recipient or project sponsor from unduly benefitting from such sale or disposition. ‘‘(3) E XC E P TION.—A recipient or project sponsor shall not be required to ma k e the repayments, and comply with the terms and conditions, required under paragraph (1) or (2) if— ‘‘(A) the sale or disposition of the property used for the project results in the use of the property for the direct benefit of very low-income persons; ‘‘(B) all of the proceeds of the sale or disposition are used to provide transitional or permanent housing meeting the requirements of this subtitle; ‘‘( C ) project-based rental assistance or operating cost assistance from any F ederal program or an equivalent State or local program is no longer made available and the project is meeting applicable performance standards, provided that the portion of the project that had benefitted from such assistance continues to meet the tenant income and rent restrictions for low-income units under section 4 2(g) of the I nternal R evenue Code of 1 986 ‘‘( D ) there are no individuals and families in the geographic area who are homeless, in which case the project may serve individuals and families at risk of homelessness. ‘‘(e) ST A FF T RAININ G .—The Secretary may allow reasonable costs associated with staff training to be included as part of the activities described in subsection (a). ‘‘(f) E L IGIBILIT Y FOR PER M ANENT H OUSING.—Any project that receives assistance under subsection (a) and that provides project- based or sponsor-based permanent housing for homeless individuals or families with a disability, including projects that meet the requirements of subsection (a) and subsection (d)(2)(A) of section 428 may also serve individuals who had previously met the require- ments for such project prior to moving into a different permanent housing project. ‘‘(g) ADMINISTRATION OF RENTAL ASSISTANCE.—Provision of permanent housing rental assistance shall be administered by a State, unit of general local government, or public housing agency. ’ ’. Timep e r i od.
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