Notwithstanding any other provision of law, the requirements of , and any implementing regulations or guidance, shall not apply to an activity assisted under this subchapter that involves rehabilitation, construction, or other development of housing if—

((1)) the recipient of assistance under this subchapter is—

((A)) a State recipient pursuant to ; or

((B)) a participating jurisdiction that received a total allocation of less than $3,000,000 in the most recent fiscal year pursuant to ; and

((2)) the total number of dwelling units assisted as a part of such activity is not more than 50.