ments, or other means to encourage the private 
sector to provide neighborhood park and recre-
ation facilities and programs. 
(c) PUBLICATION
OF REQUIREMENTS.—The Sec-
retary shall establish and publish in the Federal Register 
requirements for preparation, submission, and updating of 
local park and recreation recovery action programs re-
quired under this section. 
(d) 
INNOVATION
AND
RECREATION
PROGRAM 
GRANTS FOR AT-RISK YOUTH.—To be eligible to receive 
an innovation and recreation program grant under section 
103(a)(2) to be used to provide recreation opportunities 
or programs for at-risk youth, an eligible local government 
shall— 
(1) include in its 5-year park and recreation re-
covery action program required under subsection 
(a)(3) the goal of— 
(A) utilizing new ideas, concepts, and ap-
proaches aimed at improving facility design, op-
erations, or programming in the delivery of 
recreation services; 
(B) increased access of therapeutic or 
other recreation services to veterans and mili-
tary families; or 
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(C) reducing crime and juvenile delin-
quency; and 
(2) provide a description of— 
(A) implementation strategies to achieve 
such goals; and 
(B) how the local government is coordi-
nating its recreation programs with other com-
munity development or service agencies. 
SEC. 107. MATCHING OF STATE AMOUNTS, STATE ACTION 
INCENTIVE. 
(a) INCREASE IN GRANT AMOUNTS.—The Secretary 
may increase Federal rehabilitation and construction, in-
novation, and at-risk youth recreation grants authorized 
in section 103(a) by providing an additional match equal 
to the total match provided by a State of up to 15 percent 
of total project or program costs, except that in no event 
may— 
(1) such additional grant amount exceed 15 
percent of the total project or program cost; or 
(2) the aggregate amount of the grant and the 
additional grant amounts under this subsection ex-
ceed 85 percent of total project or program cost. 
(b) STATE ACTION INCENTIVE.—The Secretary shall 
further encourage the States to assist in assuring that 
local recovery plans and programs are adequately imple-
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mented by cooperating with the Department of Housing 
and Urban Development in monitoring local park and 
recreation recovery action programs and in assuring con-
sistency of such plans and programs, where appropriate, 
with State recreation policies as set forth in statewide 
comprehensive outdoor recreation plans. 
SEC. 108. CONVERSION OF RECREATION PROPERTY. 
(a) NO
CONVERSION
WITHOUT
APPROVAL.—No 
property improved or developed with assistance under a 
grant under this title may be converted for uses other than 
for public recreation, without the approval of the Sec-
retary. 
(b) STANDARD FOR APPROVAL.—The Secretary may 
approve such conversion only— 
(1) if the Secretary determines the conversion 
to be consistent with the current local park and 
recreation recovery action program for the local gov-
ernment that improved or developed the property; 
and 
(2) subject to such conditions as the Secretary 
determines necessary to ensure the provision of ade-
quate recreation properties and opportunities of rea-
sonably equivalent location and usefulness. 
SEC. 109. COORDINATION OF PROGRAM. 
The Secretary shall— 
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(1) coordinate the community parks revitaliza-
tion program for grants under this title with other 
Federal departments and agencies and with State 
agencies that administer programs and policies af-
fecting urban areas such as the White House Office 
of Urban Policy and departments that administer 
programs and policies affecting climate change, 
green jobs, housing, urban development, natural re-
sources management, employment, transportation, 
community services, and voluntary action; 
(2) encourage maximum coordination of the 
program between appropriate State agencies and 
local government applicants; and 
(3) require that local government applicants in-
clude provisions for participation of community and 
neighborhood residents, including youth, and for 
public-private coordination in recovery action pro-
gram planning and project selection. 
SEC. 110. REPORTS; RECORDKEEPING; AUDIT AND EXAM-
INATION. 
(a) REPORTS.—Each recipient of assistance under 
this title shall submit to the Secretary, for each fiscal year 
such assistance is received, an annual report detailing the 
projects and programs undertaken with such assistance, 
the number of jobs created by such assistance, and any 
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other information the Secretary determines appropriate 
based on the priority criteria established by the Secretary 
under sections 105 and 106. 
(b) RECORDKEEPING.—Each recipient of assistance 
under this title shall keep such records as the Secretary 
shall prescribe, including records that fully disclose the 
amount and disposition of project or program under-
takings in connection with which assistance under this 
title is given or used, and the amount and nature of that 
portion of the cost of the project or program undertaking 
supplied by other sources, and such other records as will 
facilitate an effective audit. 
(c) AUDIT AND EXAMINATION.—The Secretary and 
the Comptroller General of the United States, or their 
duly authorized representatives, shall have access, for the 
purpose of audit and examination, to any books, docu-
ments, papers, and records of a recipient of assistance 
under this title that are pertinent to such assistance. 
SEC. 111. REPORTS TO CONGRESS. 
(a) INTERIM REPORT.—Not later than 5 years after 
the date of enactment of this Act, the Secretary shall sub-
mit to the Congress an interim report containing such 
findings and recommendations as the Secretary deter-
mines appropriate with respect to the community parks 
revitalization program established pursuant to this title. 
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(b) FINAL REPORT.—Not later than 10 years after 
the date of enactment of this Act, the Secretary shall sub-
mit to Congress a report describing the overall impact of 
the community parks revitalization program established 
pursuant to this title. 
SEC. 112. DEFINITIONS. 
In this title, the following definitions shall apply: 
(1) The term ‘‘eligible local government’’ means 
a local government that, pursuant to section 103(b), 
is eligible for a grant under section 103(a). 
(2) The term ‘‘insular areas’’ means Guam, the 
Virgin Islands, American Samoa, and the Northern 
Mariana Islands. 
(3) The term ‘‘local government’’ means any 
city, county, town, township, parish, village, or any 
local or regional special district, such as a park dis-
trict, conservation district, or park authority. 
(4) The term ‘‘maintenance’’ means all com-
monly accepted practices necessary to keep rec-
reational areas and facilities operating in a state of 
good repair and to protect such areas and facilities 
from deterioration resulting from normal wear and 
tear. 
(5) The term ‘‘private nonprofit agency’’ means 
a community-based, non-profit organization, cor-
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poration, or association organized for purposes of 
providing recreation, conservation, and educational 
services directly to urban residents on either a 
neighborhood or community-wide basis through vol-
untary donations, voluntary labor, or public or pri-
vate grants. 
(6) The term ‘‘recreational areas and facilities’’ 
means indoor or outdoor parks, buildings, sites, or 
other facilities that are dedicated to recreation pur-
poses and administered by public or private non-
profit agencies to serve the recreation needs of com-
munity residents, with emphasis on public facilities 
readily accessible to residential neighborhoods, in-
cluding multiple-use community centers that have 
recreation as a primary purpose, but not including 
major sports arenas, exhibition areas, and con-
ference halls used primarily for commercial sports, 
spectator, or display activities. 
(7) The term ‘‘Secretary’’ means the Secretary 
of Housing and Urban Development. 
(8) The term ‘‘State’’ means any State of the 
United States (or any instrumentality of a State ap-
proved by the Governor), the District of Columbia, 
and the Commonwealth of Puerto Rico. 
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SEC. 113. REGULATIONS. 
(a) REGULATIONS.—Not later than 180 days after 
the date of the enactment of this Act, the Secretary shall 
promulgate regulations establishing the community parks 
revitalization program under this title to provide the 
grants authorized in section 103(a), in accordance with 
this title. 
(b) 
REQUIREMENTS.—The 
regulations 
required 
under this section shall include— 
(1) the criteria necessary to carry out sections 
104, 105, and 106; 
(2) requirements regarding the form of, and 
elements to be included in, applications by eligible 
local governments for grants under this title, re-
quirements for and detailed instructions on the proc-
ess for submitting such applications, and deadlines 
for such applications; 
(3) criteria pursuant to sections 104(a) and 
105(a) for priority in selection and approval by the 
Secretary of projects or programs to receive grant 
funds; 
(4) guidelines regarding whether an applicant 
may modify a pending application and the process 
for modifying pending applications, and guidelines 
for submitting a request for modification of a project 
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awarded grant funding under this title after such an 
award has been made; and 
(5) penalties that will be assessed on local gov-
ernments awarded a grant under this title for failure 
to comply with the reporting and recordkeeping re-
quirements under section 110, which shall provide 
penalties up to and including rescission of grant 
amounts for repetitive violations. 
SEC. 114. AUTHORIZATION OF APPROPRIATIONS. 
(a) IN GENERAL.—There are authorized to be appro-
priated such sums as may be necessary to carry out this 
title for each of fiscal years 2013 through 2022. 
(b) LIMITATION ON INNOVATION AND RECREATION 
PROGRAM GRANTS.—Not more than 10 percent of any 
amounts appropriated pursuant to subsection (a) of this 
section in any fiscal year may be used for grants under 
section 103(a)(2). 
(c) LIMITATION ON RECOVERY ACTION PROGRAM 
GRANTS.—Not more than 3 percent of any amounts ap-
propriated pursuant to subsection (a) of this section in 
any fiscal year may be used for grants under section 
103(a)(3). 
(d) GRANTS FOR INSULAR AREAS.—Notwithstanding 
any other provision of this title, the Secretary may use 
not more than 2 percent of any amounts appropriated pur-
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suant to subsection (a) in any fiscal year may to provide 
rehabilitation and construction grants under section 
103(a)(1), innovation and recreation program grants 
under section 103(a)(2), and recovery action program 
grants under section 103(a)(3) to be used in the insular 
areas. Any such grants shall not be subject to sections 
103(c) and 107(a) (relating to matching amounts), and 
may only be subject to such conditions, reports, plans, and 
agreements, if any, as determined by the Secretary. 
TITLE II—SECURED LOANS AND 
LOAN 
GUARANTEES 
FOR 
PARKS AND RECREATION IN-
FRASTRUCTURE 
DEVELOP-
MENT 
SEC. 201. PURPOSES. 
The purposes of this title are— 
(1) to promote increased development of parks 
and recreation infrastructure by establishing addi-
tional opportunities for financing parks and recre-
ation projects; 
(2) to attract new investment capital to infra-
structure projects that are capable of generating rev-
enue streams through user fees or other dedicated 
funding sources; 
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(3) to complement existing Federal funding 
sources and address budgetary constraints on the 
National Park Service; and 
(4) to leverage private investment in parks and 
recreation infrastructure. 
SEC. 202. AUTHORITY TO PROVIDE ASSISTANCE. 
The Secretary of Housing and Urban Development 
may provide financial assistance under section 208 to eli-
gible entities to carry out parks and infrastructure 
projects selected for such assistance pursuant to section 
207. 
SEC. 203. ELIGIBLE ENTITIES. 
Financial assistance under section 208 may be pro-
vided only to the following entities: 
(1) A corporation. 
(2) A partnership. 
(3) A joint venture. 
(4) A trust. 
(5) A Federal, State, or local governmental en-
tity, agency, or special purpose park and recreation 
district. 
(6) A State infrastructure financing authority. 
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SEC. 204. PROJECTS ELIGIBLE FOR ASSISTANCE. 
Financial assistance may be provided under section 
208, subject to section 207, only for the following types 
of projects: 
(1) A project for the development of indoor or 
outdoor parks, buildings, sites, or other facilities 
that are dedicated to recreation purposes and ad-
ministered by public or private nonprofit agencies to 
serve the recreation needs of community residents, 
including multiple-use community centers that have 
recreation as a primary purpose, but not including 
major sports arenas, exhibition areas, and con-
ference halls used primarily for commercial sports, 
spectator, or display activities. 
(2) A project for the construction, planning, 
and design of on-road and off-road trail facilities for 
pedestrians, bicyclists, and other nonmotorized 
forms of transportation, including sidewalks, bicycle 
infrastructure, pedestrian and bicycle signals, traffic 
calming techniques, lighting and other safety-related 
infrastructure, 
and 
transportation 
projects 
to 
achieve compliance with the Americans with Disabil-
ities Act of 1990 (42 U.S.C. 12101 et seq.). 
(3) A project for the construction, planning, 
and design of infrastructure-related projects and 
systems that will provide safe routes for non-drivers, 
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including children, older adults, and individuals with 
disabilities to access daily needs. 
(4) A project for the conversion and use of 
abandoned railroad corridors for trails for pedes-
trians, bicyclists, or other nonmotorized transpor-
tation users. 
(5) A project for the construction of turnouts, 
overlooks, and viewing areas. 
SEC. 205. ACTIVITIES ELIGIBLE FOR ASSISTANCE. 
Amounts from a loan made or guaranteed under sec-
tion 208 provided for an eligible project may be used for 
costs of carrying out such project, including costs of— 
(1) development-phase activities, including plan-
ning, feasibility analysis, revenue forecasting, envi-
ronmental review, permitting, preliminary engineer-
ing and design work, and other preconstruction ac-
tivities; 
(2) construction, reconstruction, rehabilitation, 
preservation, and replacement activities; 
(3) the acquisition of real property (including 
water rights, land relating to the project, and im-
provements to land), environmental mitigation, con-
struction contingencies, and acquisition of equip-
ment; 
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(4) capitalized interest necessary to meet mar-
ket requirements, reasonably required reserve funds, 
capital issuance expenses, and other carrying costs 
during construction; and 
(5) refinancing interim construction funding, 
long-term project obligations, or a secured loan or 
loan guarantee made under this title. 
SEC. 206. APPLICATIONS. 
(a) IN GENERAL.—The Secretary shall provide for el-
igible entities to submit applications for selection of eligi-
ble projects to receive financial assistance under section 
208, at such time, in such manner, and containing such 
information as the Secretary may require. 
(b) COMBINED PROJECTS.—The Secretary shall pro-
vide that in the case only of an eligible entity described 
in section 203(6), such an entity may submit a single ap-
plication for a combination of projects, each of which is 
an eligible project under paragraphs (1) through (5) of 
section 205. 
SEC. 207. DETERMINATION OF ELIGIBILITY AND PROJECT 
SELECTION. 
(a) SELECTION OF PROJECTS.—Using the selection 
criteria under subsection (c) of this section, the Secretary 
shall select, from applications submitted pursuant to sec-
tion 206, eligible projects that meet the criteria under sub-
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section (b) of this section for financial assistance under 
section 208. 
(b) PROJECT REQUIREMENTS.—An eligible project 
may not be selected to receive financial assistance under 
section 208 unless the Secretary determines that the 
project meets all of the following criteria: 
(1) CREDITWORTHINESS.— 
(A) IN
GENERAL.—Subject to subpara-
graph (B), the project shall be creditworthy, as 
determined by the Secretary as applicable, to 
shall ensure that any financing for the project 
has appropriate security features, such as a 
rate covenant, to ensure repayment. 
(B) PRELIMINARY RATING OPINION LET-
TER.—The Secretary shall require the applicant 
for each project to provide, as part of the appli-
cation for the project under section 206, a pre-
liminary rating opinion letter from at least one 
rating agency indicating that the senior project 
obligations of the project (which may be the 
Federal credit instrument) have the potential to 
achieve an investment-grade rating. 
(C) SPECIAL
RULE
FOR
CERTAIN
COM-
BINED PROJECTS.—The Secretary shall develop 
a credit evaluation process for a Federal credit 
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instrument provided to a State infrastructure 
financing authority for a project described in 
section 206(b), which may include requiring the 
provision of a preliminary rating opinion letter 
from at least one rating agency. 
(2) ELIGIBLE PROJECT COSTS.—The costs of 
the eligible project shall be reasonably anticipated to 
be not less than $20,000,000. 
(3) DEDICATED REVENUE SOURCES.—The Fed-
eral credit instrument for the project shall be repay-
able, in whole or in part, from dedicated revenue 
sources that also secure the project obligations. 
(4) PUBLIC SPONSORSHIP OF PRIVATE ENTI-
TIES.—In the case of a project carried out by an en-
tity that is not a State or local government or an 
agency or instrumentality of a State or local govern-
ment, the project shall be publicly sponsored. 
(c) SELECTION CRITERIA.— 
(1) ESTABLISHMENT.—The Secretary shall es-
tablish criteria for the selection of projects that meet 
the eligibility requirements of subsection (b). Such 
criteria shall be designed to ensure a diversity of 
project types and geographical locations, and shall 
include the following: 
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(A) The extent to which the project is 
statewide or regionally significant, with respect 
to the generation of increased recreational op-
portunities. 
(B) The extent to which assistance under 
this title would foster innovative public-private 
partnerships and attract private debt or equity 
investment. 
(C) The likelihood that assistance under 
this title would enable the project to proceed at 
an earlier date than the project would otherwise 
be able to proceed. 
(D) The extent to which the project uses 
new or innovative approaches. 
(E) The amount of budget authority re-
quired to fund the Federal credit instrument 
for the project made available under this title. 
(F) The extent to which the project helps 
maintain or protect the environment. 
(G) The extent to which assistance under 
this section reduces the contribution of Federal 
grant assistance to the project. 
(2) SPECIAL
RULE
FOR
CERTAIN
COMBINED 
PROJECTS.—For a project described in section 
206(b), the Secretary shall only consider the criteria 
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described in subparagraphs (B) through (G) of para-
graph (1). 
(d) FEDERAL REQUIREMENTS.—Nothing in this sec-
tion may be construed to alter, affect, or annul the appli-
cability of any other Federal laws or regulations. 
SEC. 208. SECURED LOANS AND LOAN GUARANTEES. 
(a) AUTHORITY.—The Secretary may enter into 
agreements with eligible entities to make, and may make, 
secured loans to such entities as provided under this sec-
tion for eligible projects selected under section 207 for fi-
nancial assistance under this section. 
(b) USE.— 
(1) IN GENERAL.—The proceeds of a secured 
loan under this section shall be used only— 
(A) to finance eligible project costs of an 
eligible project selected under section 207; 
(B) subject to paragraph (2) of this sub-
section, to refinance interim construction fi-
nancing of eligible project costs of an eligible 
project selected under section 207; or 
(C) to refinance long-term project obliga-
tions or Federal credit instruments, if such refi-
nancing provides additional funding capacity for 
the completion, enhancement, or expansion of a 
project that— 
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(i) is selected under section 207; or 
(ii) was originally financed, in whole 
or in part, with amounts provided other 
than under this title, if the project other-
wise meets the requirements of section 
207. 
(2) LIMITATION ON REFINANCING OF INTERIM 
CONSTRUCTION FINANCING.—The proceeds of a se-
cured loan under this section made for an eligible 
project may not be used for the purpose under para-
graph (1)(B) after the expiration of the 12-month 
period beginning upon the date of substantial com-
pletion of the project. 
(c) RISK ASSESSMENT.—Before entering into an 
agreement under this subsection for a secured loan, the 
Secretary, in consultation with the Director of the Office 
of Management and Budget and each rating agency pro-
viding a preliminary rating opinion letter under section 
207(b)(1)(B), shall determine an appropriate capital re-
serve subsidy amount for the secured loan, taking into ac-
count each such preliminary rating opinion letter. 
(d) INVESTMENT-GRADE RATING REQUIREMENT FOR 
SENIOR OBLIGATIONS.—The execution of a secured loan 
under this section shall be contingent on receipt by the 
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senior obligations of the project of an investment-grade 
rating. 
(e) TERMS AND LIMITATIONS.— 
(1) MAXIMUM AMOUNT.—The amount of a se-
cured loan under this section shall not exceed the 
lesser of— 
(A) an amount equal to 49 percent of the 
reasonably anticipated eligible project costs; or 
(B) if the secured loan does not receive an 
investment-grade rating, the amount of the sen-
ior project obligations of the project. 
(2) PAYMENT.—A secured loan under this sec-
tion— 
(A) shall be payable, in whole or in part, 
from State or local taxes, user fees, or other 
dedicated revenue sources that also secure the 
senior project obligations of the relevant 
project; 
(B) shall include a rate covenant, coverage 
requirement, or similar security feature sup-
porting the project obligations; and 
(C) may have a lien on revenues described 
in subparagraph (A), subject to any lien secur-
ing project obligations. 
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(3) INTEREST RATE.—The interest rate on a 
secured loan under this section shall be— 
(A) not less than the yield on United 
States Treasury securities of a similar maturity 
to the maturity of the secured loan on the date 
of execution of the loan agreement; and 
(B) fixed for the term of the loan. 
(4) MATURITY DATE.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), the final maturity date of a 
secured loan under this section for an eligible 
project shall be not later than 35 years after 
the date of substantial completion of the 
project. 
(B) SPECIAL
RULE
FOR
STATE
INFRA-
STRUCTURE
FINANCING
AUTHORITIES.—The 
final maturity date of a secured loan under this 
section made to a State infrastructure financing 
authority shall be not later than 35 years after 
the date on which loan amounts are first dis-
bursed. 
(5) 
NONSUBORDINATION.—A 
secured 
loan 
under this section shall not be subordinated to the 
claims of any holder of project obligations in the 
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