123STA T . 31 04PUBLIC LA W 111 – 11 7—DE C.1 6, 200 9(I I )mark-up - to - b u dge t c o n tract s pursuant to sect i on 524 (a)(4) o f t h e M u l tifamil yA ssisted H ousing R eform and Affordability Act (42 U.S . C . 1 4 37 f note) , as such section is carried out by the Secretary for properties o w ned by eligible owners (as such term is defined in section 2 0 2(k) of the Housing Act of 1 9 59 (12 U.S.C. 1701 q (k))
(i v ) the pro j ect owner may charge tenants rent sufficient to meet debt service payments and operating cost requirements, as approved by the Secretary, if project-based rental assistance is not available or is insufficient for the debt service and operating cost of the project after refinancing. Such approval by the Secretary — (I) shall be the basis for the owner to agree to terminate the project-based rental assistance contract that is insufficient for the debt service and operating cost of the project after refinancing; and (II) shall be an eligibility event for the project for purposes of section 8 (t) of the United States Housing Act of 1937 (42 U.S.C. 1437f(t)); (v) units to be occupied by tenants assisted under section 8(t) of the United States Housing Act of 1937 (42 U.S.C. 1437f(t)) shall, upon termination of the occu- pancy of such tenants, become eligible for project-based assistance under section 8(o)(13) of the United States Housing Act of 1937 (42 U.S.C. 1437f(o)(13)) without regard to the percentage limitations provided in such section; and (vi) there shall be a use agreement of 20 years from the date of the maturity date of the original 202 loan for all units, including units to be occupied by tenants assisted under section 8(t) of the United States Housing Act of 1937 (42 U.S.C. 1437f(t)). S EC . 230. N o property identified by the Secretary of Housing and Urban D evelopment as surplus F ederal property for use to assist the homeless shall be made available to any homeless group unless the group is a member in good standing under any of HUD ’ s homeless assistance programs or is in good standing with any other program which receives funds from any other Federal or State agency or entity
- Provide
d, T hatane x ception may be made for an entity not involved with Federal homeless programs to use surplus Federal property for the homeless only after the Secretary or another responsible Federal agency has fully and com- prehensively reviewed all relevant finances of the entity, the track record of the entity in assisting the homeless, the ability of the entity to manage the property, including all costs, the ability of the entity to administer homeless programs in a manner that is effective to meet the needs of the homeless population that is expected to use the property and any other related issues that demonstrate a commitment to assist the homeless: Provided fu r th er, That the Secretary shall not require the entity to have cash in hand in order to demonstrate financial ability but may rely on the entity’s prior demonstrated fundraising ability or commitments for in-kind donations of goods and services: Provided further, That the Secretary shall make all such information and its decision Homel e s s .C o ntrac ts. Ti me p erio d .
