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Code · BILL · 118th Congress · S. 2834 (Introduced in Senate) — To combat toxic indoor mold, and for other purposes. · Sec. 8

Sec. 8. Preservation grants for properties receiving section 8 project-based rental assistance

1,257 words·~6 min read·/bill/118/s/2834/is/section-8

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There is authorized to be appropriated for the Secretary of Housing and Urban Development to provide assistance to owners of properties receiving project-based subsidy contracts under section 8 of the United States Housing Act of 1937 ( 42 U.S.C. 1437f ) or to municipalities or other units of local government that may administer repairs to a property receiving such project-based subsidy contracts, $250,000,000, which shall remain available until expended. Of the total amount of funds provided pursuant to this section, not less than 10 percent shall be available to eligible recipients described in subsection
(a)for the purpose of adding new dwelling units to properties already receiving project-based subsidy contracts under section 8 of the United States Housing Act of 1937. Funds made available under this subsection for new construction may only be used by an eligible recipients who are already receiving an award for rehabilitation under this section. Eligible recipients who receive funds for both new construction and for rehabilitation shall complete rehabilitation work before beginning new construction and shall provide certification to the Secretary, in a manner to be determined by the Secretary, that the rehabilitation has been completed in a satisfactory manner to eliminate health and safety risks before receiving any funds for new construction. Within one year after the publication of the model building standards under section 7(b)(4), the Secretary shall require eligible recipients who receive funds for new construction and rehabilitation to ensure that new construction and rehabilitation projects are in compliance with the model building standards and techniques developed under section 7(b)(1). Of the total amount of funds provided pursuant to this section, not less than 3 percent shall be used to provide technical assistance to applicants and to advertise the availability of funds under this section to areas disproportionately impacted by health and safety concerns in federally-assisted housing. Amounts provided pursuant to this section shall be used for competitive grants and low-interest loans for capital improvements to such properties, including grants for activities that mitigate threats to the health and safety of residents, reduce lead-based paint hazards, reduce other housing-related hazards, including carbon monoxide, radon, or indoor residential mold, improve water and energy efficiency, or reduce the risk of harm to occupants or property from natural hazards, or for low-interest loans for the same use. An owner of such a property shall be eligible for— a grant under this section only if such owner is a nonprofit entity; and a low-interest loan under this section only if such owner is a for-profit individual or entity. A municipal government, county, or other unit of local government may receive a grant under this section if sufficient capacity is demonstrated in their application to the Secretary of Housing and Urban Development. Of any amounts made available pursuant to this section, not less than 30 percent shall be available without regard to any requirement regarding minimum grant amount and only for eligible uses within or directly benefitting— any county that has consistently had 20 percent or more of the population living in poverty during the 30-year period preceding the date of enactment of this Act, as measured by the decennial census data obtained during those years and the most recent annual Small Area Income and Poverty Estimates as estimated by the Bureau of the Census; any census tract having a poverty rate of at least 20 percent as measured by the most recent 5-year data series available from the American Community Survey of the Census Bureau; or any census tract having a predominantly disenfranchised population or a population disproportionately impacted by health and safety hazards in federally-assisted housing (as defined by the Secretary). In awarding grants under this section, the Secretary of Housing and Urban Development shall prioritize awards that ameliorate or prevent indoor residential mold or other severe health or safety threats. Projects funded with funds provided under this section shall comply with the same requirements of subchapter IV of chapter 31 of title 40, United States Code that are applicable to contracts described in section 3142(a) of such title. Grants and low-interest loans under this section shall— be provided through the policies, procedures, contracts, and transactional infrastructure of the authorized programs administered by the Department of Housing and Urban Development, on such terms and conditions as the Secretary of Housing and Urban Development deems appropriate to ensure the maintenance and preservation of the property, the continued operation and maintenance of energy efficiency technologies, and the timely expenditure of funds; and include a financial assessment and physical inspection of such property. To be eligible for a grant or low-interest loan under this section, the owner of the property shall have at least a satisfactory management and occupancy review rating, be in substantial compliance with applicable performance standards and legal requirements, and commit to an additional period of affordability determined by the Secretary, but of not fewer than 50 years. Owners shall include nonprofit owners and preservation purchasers, including public housing agencies and nonprofit developers. A loan under this section shall— bear interest at a rate, determined by the Secretary, that— does not exceed by 3 percentage points the discount window primary credit interest rate most recently published on the Federal Reserve Statistical Release on selected interest rates (daily or weekly), commonly referred to as the H.15 release or the Federal funds rate ; and is below the average interest rate at the given time for a home improvement loan; and have a term to maturity of 10 years or 20 years, as determined by the Secretary based on the credit of the borrower. If the owner of a property receiving a loan under this section does not use the loan amounts as required under subsection (b)(1), does not maintain the affordability of the property as required under subsection (i), or does not comply with any other requirements established by the Secretary, the Secretary shall— work with the owner for not less than 30 days to ameliorate any violations; and if after 90 days such violations are not ameliorated— increase the interest rate of the loan by not less than 15 percentage points above the Federal funds rate; and reduce the term to maturity of the loan to not more than 5 years. The Secretary shall establish conditions on the receipt of a loan or grant under this section, as follows: The Secretary shall take reasonable steps to ensure that the owner or purchaser has no significant record of material noncompliance with applicable program standards and has demonstrated capacity to perform the obligations specified under this section. The Secretary shall require owners to agree to promptly make all required repairs, and when required by the Secretary, to develop a rehabilitation plan in consultation with the tenants and that will be approved by the Secretary, in conjunction with appropriate capital needs planning and required reserves, to ensure the provision of decent, safe, and sanitary housing throughout the full term of any extended restrictions and contracts. The Secretary shall require owners to agree to a longer use restriction of 50 years and to agree to a perpetually required renewal of the housing assistance payments contract if offered by the Secretary. Of the amounts made available pursuant to this section, the Secretary of Housing and Urban Development may transfer up to 0.5 percent to the account for Department of Housing and Urban Development, Program Offices—Office of Housing for necessary costs of administering and overseeing the obligation and expenditure of amounts made available pursuant to this section and such transferred amounts shall remain available until September 30, 2028.
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Sec. 8
Preservation grants for properties receiving section 8 project-based rental assistance
U.S.C.§ 1437f
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