(ii)
Terms of agreement
A corrective action agreement entered into under clause (i) shall—
(I)
have a term of 1 year, and shall be renewable at the option of the Secretary;
(II)
provide, where feasible, for technical assistance to assist the public housing agency in curing its deficiencies;
(III)
provide for—
(aa)
reconsideration of the designation of the small public housing agency as a troubled small public housing agency not less frequently than annually; and
(bb)
termination of the agreement when the Secretary determines that the small public housing agency is no longer a troubled small public housing agency; and
(IV)
provide that in the event of substantial noncompliance by the small public housing agency under the agreement, the Secretary may—
(aa)
contract with another public housing agency or a private entity to manage the public housing of the troubled small public housing agency;
(bb)
withhold funds otherwise distributable to the troubled small public housing agency;
(cc)
assume possession of, and direct responsibility for, managing the public housing of the troubled small public housing agency;
(dd)
petition for the appointment of a receiver, in accordance with
section 1437d(j)(3)(A)(ii) of this title; and
(ee)
exercise any other remedy available to the Secretary in the event of default under the public housing annual contributions contract entered into by the small public housing agency under
section 1437c of this title.