; and (iii) shall only award a grant on the condition that such owner refrains from— (I) raising rent on dwelling units in such multifamily building as a result of any improvements paid for by funding awarded under this Act; and (II) increasing rent on such dwelling units for any reason for at least 2 years unless specific rent increases during those 2 years were stipulated in agreements made prior to the awarding of funding under this Act to which such owner is a party. (2) Eligible property owners Eligible property owners shall use funds awarded under this Act to— (A) make changes to existing buildings or other assets as necessary to meet the purpose of the program established under this section; and (B) implement natural solutions to adapt land to changing conditions. 5. Rulemaking (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary shall promulgate rules to carry out this Act in consultation with— (1) the Secretary of Housing and Urban Development; (2) the Secretary of Health and Human Services; (3) the Administrator of the Environmental Protection Agency; (4) the Administrator of the Federal Emergency Management Agency; and (5) the heads of such other Federal departments and agencies as the Secretary determines appropriate. (b) Required provisions The Secretary shall ensure that regulations promulgated pursuant to this section include provisions that— (1) in coordination with the Director, prescribe resilience and adaptation standards; (2) provide guidance to eligible program participants in the implementation of this Act; (3) create audits and annual reporting requirements as may be necessary or appropriate to determine whether an eligible program participant has carried out activities using grant funds— (A) in a timely and effective manner; and (B) in accordance with the requirements of this Act and other applicable laws