(1) If any federally-assisted program or project construction cannot commence because comparable replacement sale or rental housing is not available, and the agency determines that housing cannot otherwise be made available, it may take action as is necessary or appropriate to provide housing by use of funds authorized for the project.
(2) No displaced person shall be required to move from his dwelling on account of any federally-assisted program or project, unless the agency is satisfied that replacement housing is available to the person, within a reasonable period of time and at rents or prices within the financial means of the families and individuals displaced, and reasonably accessible to their places of employment.