Under regulations prescribed by the President, the head of an executive agency may act under sections 7105–7107 of this title for a project assisted under at least 2 assistance programs. The regulations shall ensure that the head of an executive agency acts under those sections only—

((1)) when a problem cannot be adequately solved through other action under this chapter or other law;

((2)) when necessary to promote expeditious processing of applications or effective and efficient administration of the project; and

((3)) in a way consistent with protecting the interest of the United States Government and with the program purposes and requirements of law.