42 U.S.C. § 1437k : US Code - Section 1437K: Consortia, joint ventures, affiliates, and subsidiaries of public housing agencies

Search 42 U.S.C. § 1437k : US Code - Section 1437K: Consortia, joint ventures, affiliates, and subsidiaries of public housing agencies

(a) Consortia
(1) In general
Any 2 or more public housing agencies may participate in a
consortium for the purpose of administering any or all of the
housing programs of those public housing agencies in accordance
with this section.
(2) Effect
With respect to any consortium described in paragraph (1) -
(A) any assistance made available under this subchapter to
each of the public housing agencies participating in the
consortium shall be paid to the consortium; and
(B) all planning and reporting requirements imposed upon each
public housing agency participating in the consortium with
respect to the programs operated by the consortium shall be
consolidated.
(3) Restrictions
(A) Agreement
Each consortium described in paragraph (1) shall be formed
and operated in accordance with a consortium agreement, and
shall be subject to the requirements of a joint public housing
agency plan, which shall be submitted by the consortium in
accordance with section 1437c-1 of this title.
(B) Minimum requirements
The Secretary shall specify minimum requirements relating to
the formation and operation of consortia and the minimum
contents of consortium agreements under this paragraph.
(b) Joint ventures
(1) In general
Notwithstanding any other provision of law, a public housing
agency, in accordance with the public housing agency plan, may -
(A) form and operate wholly owned or controlled subsidiaries
(which may be nonprofit corporations) and other affiliates, any
of which may be directed, managed, or controlled by the same
persons who constitute the board of directors or similar
governing body of the public housing agency, or who serve as
employees or staff of the public housing agency; or
(B) enter into joint ventures, partnerships, or other
business arrangements with, or contract with, any person,
organization, entity, or governmental unit -
(i) with respect to the administration of the programs of
the public housing agency, including any program that is
subject to this subchapter; or
(ii) for the purpose of providing or arranging for the
provision of supportive or social services.
(2) Use and treatment of income
Any income generated under paragraph (1) -
(A) shall be used for low-income housing or to benefit the
residents assisted by the public housing agency; and
(B) shall not result in any decrease in any amount provided
to the public housing agency under this subchapter, except as
otherwise provided under the formulas established under section
1437g(d)(2) and 1437g(e)(2) of this title.
(3) Audits
The Comptroller General of the United States, the Secretary, or
the Inspector General of the Department of Housing and Urban
Development may conduct an audit of any activity undertaken under
paragraph (1) at any time.