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Page 1 of 15 HUD 52531B Agreement, Part 2 of 2 Previous Editions are obsolete Project-based Voucher Program U.S. Department of Housing and Urban Development Office of Public and Indian Housing SECTION 8 PROJECT-BASED VOUCHER PROGRAM PBV AGREEMENT TO ENTER INTO HOUSING ASSISTANCE PAYMENTS CONTRACT NEW CONSTRUCTION OR REHABILITATION PART II 2.1 Training, Employment and Contracting Opportunities (a) The project assisted under this Agreement is subject to the requirements of section 3 of the Housing Urban Development Act of 1968, as amended, 12 U.S.C. 1701u. The owner shall carry out the provisions of section 3 and the regulations issued by HUD as set forth in 24 CFR part 135 and all applicable rules and orders of HUD issued thereunder prior to the execution of this Agreement. This shall be a condition of the Federal financial assistance provided to the project, binding upon the owner, the owner’s contractors and subcontractors, successors and assigns. Failure to fulfill these requirements shall subject the owner, the owner’s contractors and subcontractors, successors and assigns to the sanctions specified by this Agreement, and to such sanctions as are specified by 24 CFR part 135. (b) The owner shall incorporate or cause to be incorporated into any contract or subcontract for work pursuant to this Agreement in excess of $100,000 the following clause: (1) The work to be performed under this contract is subject to the requirements of section 3 of the Housing Urban Development Act of 1968, as amended, 12 U.S.C. 1701u. The purpose of section 3 is to ensure that employment and other economic opportunities generated by HUD assistance or HUD-assisted projects covered by section 3 shall, to the greatest extent feasible, be directed to low- and very low-income persons, particularly persons who are recipients of HUD assistance for housing. 4-21