Contracts for financial assistance entered into under this section may also provide for a guarantee by the commonwealth of notes of a housing authority issued to temporarily finance a relocation project. Such guarantee and such notes shall be made and issued as provided in section thirty-four B and shall be subject to the limitations on period and amount set forth therein. The total amount of notes guaranteed hereunder, exclusive of refunding notes, shall not exceed twenty-five million dollars.
After such date as the department may determine that such acute shortage of housing for displaced persons constituting a public exigency, emergency or distress no longer exists, any relocation project acquired, constructed, moved or rehabilitated may, with the approval of the department, be offered for sale at its fair market value and disposed of as soon as is consistent with sound business judgment; provided, that no such sale shall be for less than the total of the outstanding obligations of the housing authority with respect to such project. If the proceeds of the sale of such a project are in excess of the total of all obligations for the housing authority with respect to such project, such excess shall, after the payment of all notes and other outstanding obligations of the housing authority relating to such project, be paid to the commonwealth as a reimbursement of grants made hereunder, and, after full reimbursement, to the city or town in which such project is located.