((a)) ** In general** Renewal of expiring contracts for leasing, rental assistance, or operating costs for permanent housing contracts may be funded either—

((1)) under the appropriations account for this subchapter; or

((2)) the section 8 [] project-based rental assistance account.

((b)) ** Renewals** The sums made available under subsection (a) shall be available for the renewal of contracts in the case of tenant-based assistance, successive 1-year terms, and in the case of project-based assistance, successive terms of up to 15 years at the discretion of the applicant or project sponsor and subject to the availability of annual appropriations, for rental assistance and housing operation costs associated with permanent housing projects funded under this part, or under part C or F (as in effect on the day before the effective date of the Homeless Emergency Assistance and Rapid Transition to Housing Act of 2009). The Secretary shall determine whether to renew a contract for such a permanent housing project on the basis of certification by the collaborative applicant for the geographic area that—

((1)) there is a demonstrated need for the project; and

((2)) the project complies with program requirements and appropriate standards of housing quality and habitability, as determined by the Secretary.

((c)) ** Construction** Nothing in this section shall be construed as prohibiting the Secretary from renewing contracts under this part in accordance with criteria set forth in a provision of this part other than this section.