I see your point - that makes sense.

I think let's do it like this:

`<p>${_("Grade reports listed below are generated each time the <b>Generate Grade Report</b> button is clicked. A link to each grade report remains available on this page, identified by the UTC date and time of generation. Grade reports are not deleted, so you will always be able to access previously generated reports from this page.")} ${_("The same is not necessarily true for other reports that appear in this table.")}</p>`

that will allow you to add/change that second clause without having to generate new translations for the first clause.