1099 
United States Housing Act of 1937 (or any other 
project-based rental housing assistance programs of 
the Department of Housing and Urban Develop-
ment, including the rent supplement program under 
section 101 of the Housing and Urban Development 
Act of 1965 (12 U.S.C. 1701s)) or any successor 
project-based rental assistance program, except as 
provided by subsection (a)(2)(B); and 
(2) the prepayment may involve refinancing of 
the loan if such refinancing results — 
(A) in a lower interest rate on the prin-
cipal of the loan for the project and in reduc-
tions in debt service related to such loan; or 
(B) in the case of a project that is assisted 
with a loan under such section 202 carrying an 
interest rate of 6 percent or lower, a trans-
action under which 
(i) the project owner shall address the 
physical needs of the project; 
(ii) the prepayment plan for the trans-
action, including the refinancing, shall 
meet a cost benefit analysis, as established 
by the Secretary, that the benefit of the 
transaction outweighs the cost of the 
VerDate Nov 24 2008 
05:11 Feb 24, 2009
Jkt 079200
PO 00000
Frm 01099
Fmt 6652
Sfmt 6201
E:\BILLS\H1105.IH
H1105
jbell on PROD1PC69 with BILLS
1100 
transaction including any increases in rent 
charged to unassisted tenants; 
(iii) the overall cost for providing 
rental assistance under section 8 for the 
project (if any) is not increased, except, 
upon approval by the Secretary to— 
(I) mark-up-to-market contracts 
pursuant to section 524(a)(3) of the 
Multifamily Assisted Housing Reform 
and Affordability Act (42 U.S.C. 
1437f note), as such section is carried 
out by the Secretary for properties 
owned by nonprofit organizations; or 
(II) mark-up-to-budget contracts 
pursuant to section 524(a)(4) of the 
Multifamily Assisted Housing Reform 
and Affordability Act (42 U.S.C. 
1437f note), as such section is carried 
out by the Secretary for properties 
owned by eligible owners ( as such 
term is defined in section 202(k) of 
the Housing Act of 1959 (12 U.S.C. 
1701q(k)); 
(iv) the project owner may charge ten-
ants rent sufficient to meet debt service 
VerDate Nov 24 2008 
05:58 Feb 24, 2009
Jkt 079200
PO 00000
Frm 01100
Fmt 6652
Sfmt 6201
E:\BILLS\H1105.IH
H1105
jbell on PROD1PC69 with BILLS
1101 
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 op-
erating cost of the project after refi-
nancing. Such approval by the Secretary— 
(I) shall be the basis for the 
owner to agree to terminate the 
project-based rental assistance con-
tract 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 as-
sisted under section 8(t) of the United 
States Housing Act of 1937 (42 U.S.C. 
1437f(t)) shall, upon termination of the oc-
cupancy 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 
VerDate Nov 24 2008 
05:58 Feb 24, 2009
Jkt 079200
PO 00000
Frm 01101
Fmt 6652
Sfmt 6201
E:\BILLS\H1105.IH
H1105
jbell on PROD1PC69 with BILLS
1102 
regard to the percentage limitations pro-
vided 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)). 
SEC. 235. USE OF SURPLUS FEDERAL PROPERTY 
FOR THE HOMELESS. No property identified by the Sec-
retary of Housing and Urban Development as surplus 
Federal 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 home-
less assistance programs or is in good standing with any 
other program which receives funds from any other Fed-
eral or State agency or entity: Provided, That an exception 
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 comprehensively reviewed all 
relevant finances of the entity, the track record of the enti-
ty in assisting the homeless, the ability of the entity to 
manage the property, including all costs, the ability of the 
VerDate Nov 24 2008 
05:11 Feb 24, 2009
Jkt 079200
PO 00000
Frm 01102
Fmt 6652
Sfmt 6201
E:\BILLS\H1105.IH
H1105
jbell on PROD1PC69 with BILLS
1103 
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 home-
less: Provided further, 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 dem-
onstrated 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 
regarding the award of the surplus property available to 
the committees of jurisdiction, including a full justification 
of the appropriateness of the use of the property to assist 
the homeless as well as the appropriateness of the group 
seeking to obtain the property to use such property to as-
sist the homeless: Provided further, That, this section shall 
apply to properties in fiscal year 2008 and 2009 made 
available as surplus Federal property for use to assist the 
homeless. 
SEC. 236. The Secretary of Housing and Urban De-
velopment shall increase, pursuant to this section, the 
number of Moving-to-Work agencies authorized under sec-
tion 204, title II, of the Departments of Veterans Affairs 
and Housing and Urban Development and Independent 
Agencies Appropriations Act, 1996 (Public Law 104–134; 
VerDate Nov 24 2008 
05:11 Feb 24, 2009
Jkt 079200
PO 00000
Frm 01103
Fmt 6652
Sfmt 6201
E:\BILLS\H1105.IH
H1105
jbell on PROD1PC69 with BILLS