Low-income requirement and income targeting

Housing shall qualify for affordable housing for purposes of this subchapter only if— each dwelling unit in the housing— each dwelling unit in the housing will remain affordable, according to binding commitments satisfactory to the Secretary, for— such other period as the Secretary determines is the longest feasible period of time consistent with sound economics and the purposes of this subchapter, except upon a foreclosure by a lender (or upon other transfer in lieu of foreclosure) if that action— recognizes any contractual or legal rights of any public agency, nonprofit sponsor, or other person or entity to take an action that would— Notwithstanding subsection (a), housing assistance pursuant to section 4228(a)(2)(B) of this title shall be considered affordable housing for purposes of this subchapter.