(a) In generalSubject to section 4230 of this title and an applicable housing plan approved under section 4223 of this title, the Director shall have—
(1) the discretion to use grant amounts for affordable housing activities through the use of—
(F)
any other form of assistance that the Secretary determines to be consistent with the purposes of this subchapter; and
(b) Investments
The Director may invest grant amounts for the purposes of carrying out affordable housing activities in investment securities and other obligations, as approved by the Secretary.
(Pub. L. 104–330, title VIII, § 812, as added Pub. L. 106–568, title II, § 203, Dec. 27, 2000, 114 Stat. 2888, and Pub. L. 106–569, title V, § 513, Dec. 27, 2000, 114 Stat. 2982.)