; (ii) facilitates multimodal transportation connectivity and accessibility; (iii) increases access to transit hubs for pedestrian and bicycle traffic; (iv) enables mixed-use development; (v) identifies infrastructure needs associated with the project; and (vi) includes private sector participation. (B) Grayfield The term grayfield means an economically obsolescent, outdated, failing, moribund, or underused real estate asset. (9) Funding There is authorized to be appropriated for grants under this subsection $50,000,000 for each of fiscal years 2024 and 2025, which amounts shall remain available until expended. . (b) CDBG loan guarantee cap Subject to section 502 of the Congressional Budget Act of 1974 ( 2 U.S.C. 661a ), during each of fiscal years 2024 and 2025, commitments to guarantee loans under section 108 of the Housing and Community Development Act of 1974 ( 42 U.S.C. 5308 ), any part of which is guaranteed, shall not exceed a total principal amount of $500,000,000, notwithstanding any aggregate limitation on outstanding obligations guaranteed in subsection (k) of such section 108.