Disposal of projects. Conversion to a congregate housing project.

(b) Upon the determination of the Commissioner of Housing that it is in the best interest of the locality in which a housing project for elderly persons is located or upon the determination of the commissioner and the authority, municipal developer or nonprofit corporation owning such a housing project that it is in the best interest of the state and such authority, municipal developer or nonprofit corporation, said project or any part thereof may, subject to the provisions of any contract or agreement entered into with the authority, municipal developer or nonprofit corporation, be converted to a congregate housing project, as defined in section 8-119e . Any such converted housing project shall be subject to the provisions of sections 8-119d to 8-119 l , inclusive.