Elderly Housing Quality Improvement Act

[AI summary unavailable — showing source text] Elderly Housing Quality Improvement Act - Amends the Housing Act of 1959 to authorize the Secretary of Housing and Urban Development to make grants to eligible housing owners for elderly housing capital repair and conversion to assisted living facilities. Authorizes appropriations. (Sec. 3) Authorizes, and sets forth the conditions under which, the Secretary shall approve sponsor prepayment and refinancing of principal and interest for elderly or handicapped project loans under the Housing Act of 1959. Amends the National Housing Act to permit multifamily project rehabilitation loans to be made from recaptured interest reduction contracts. Revises capital grant project eligibility. (Sec. 4) Authorizes appropriations, with respect to specified elderly and disabled housing, for: (1) service coordinator grants under the National Housing Act; (2) congregate services contacts under the Cranston-Gonzalez National Affordable Housing Act.; (3) additional renewals and contracts not renewed in FY 1998 (directs the Secretary to use specified FY 1999 appropriations to renew all FY 1998 grants for service coordinators and congregate services); and (4) service coordinator and congregate services…