123STA T . 223 PUBLIC LA W 111 –5—FE B.1 7, 2 0 0 9mainte nan c ean dpr e s er v ati o no f t h e propert y, the contin u ed oper - ation and maintenance of ener g y efficiency techno l ogies, and the timely e x penditure of funds
- Provide
d fu r th er ,T hat the S ecretary may provide incentives to o w ners to underta k e energy or green retrofits as a part of such grant or loan terms, including, b ut not limited to, fees to cover investment oversight and implementa- tion by said owner, or to encourage j ob creation for low-income or very low-income individuals: Provided further, That the Secretary may share in a portion of future property utility savings resulting from improvements made by grants or loans made available under this heading: Provided further, That the grants or loans shall include a financial assessment and physical inspection of such prop- erty: Provided further, That eligible owners must have at least a satisfactory management review rating, be in substantial compli- ance with applicable performance standards and legal re q uirements, and commit to an additional period of affordability determined by the Secretary, but of not fewer than 15 years: Provided further, That the Secretary shall undertake appropriate underwriting and oversight with respect to grant and loan transactions and may set aside up to 5 percent of the funds made available under this heading for grants or loans for such purpose: Provided further, That the Secretary shall take steps necessary to ensure that owners receiving funding for energy and green retrofit investments under this heading shall expend such funding within 2 years of the date they received the funding: Provided further, That in administering funds appropriated or otherwise made available under this heading, the Secretary may waive or specify alternative requirements for any provision of any statute or regulation in connection with the obligation by the Secretary or the use of these funds ( except for requirements related to fair housing, nondiscrimination, labor standards, and the environment ) , upon a finding that such a waiver is necessary to expedite or facilitate the use of such funds: Provided further, That of the funds provided under this heading for grants and loans, up to 1 percent shall be available for staffing, training, technical assistance, technology, monitoring, research and evalua- tion activities: Provided further, That funds set aside in the previous proviso shall remain available until September 30 , 2012: Provided further, That funding made available under this heading and used by the Secretary for personnel expenses related to administering funding under this heading shall be transferred to ‘ ‘ H ousing P er- sonnel C ompensation and B enefits ’ ’ and shall retain the terms and conditions of this account including reprogramming provisos except that the period of availability set forth in the previous proviso shall govern such transferred funds: Provided further, That any funding made available under this heading used by the Sec- retary for training and other administrative expenses shall be trans- ferred to ‘‘ A dministration, O perations and M anagement’’ for non- personnel expenses of the D epartment of Housing and U rban Development: Provided further, That any funding made available under this heading used by the Secretary for technology shall be transferred to ‘‘ W orking Capital F und . ’’ O F F ICEO F L E AD HA Z A R DCO NT RO L AND HEALT HY HO M E S For an additional amount for the ‘‘Lead Ha z ard R eduction Program’’, as authorized by section 1011 of the Residential Lead- Based Paint Hazard Reduction Act of 1 9 92, and by sections 501 Waiver a utho rit y.
