(a) In general In addition to any responsibilities delegated under section
4103 (c) of this title, the Secretary shall delegate some or all responsibility for implementing this subchapter to a State housing agency if such agency submits a preservation plan acceptable to the Secretary.
(b) Approval State preservation plans shall be submitted in such form and in accordance with such procedures as the Secretary shall establish. The Secretary may approve plans that contain
(1) an inventory of low-income housing located within the State that is or will be eligible low-income housing under this subchapter within 5 years;
(2) a description of the agencys experience in the area of multifamily financing and restructuring;
(3) a description of the administrative resources that the agency will commit to the processing of plans of action in accordance with this subchapter;
(4) a description of the administrative resources that the agency will commit to the monitoring of approved plans of action in accordance with this subchapter;
(5) an independent analysis of the performance of the multifamily housing inventory financed or otherwise monitored by the agency;
(6) a certification by the public official responsible for submitting the comprehensive housing affordability strategy under section
12705 of title
42 that the proposed activities are consistent with the approved housing strategy of the State within which the eligible low-income housing is located; and
(7) such other certifications or information that the Secretary determines to be necessary or appropriate to achieve the purposes of this subchapter.