The Secretary shall require that public and Indian housing agencies, and their contractors and subcontractors, make their best efforts, consistent with existing Federal, State, and local laws and regulations, to award contracts for work to be performed in connection with development assistance provided pursuant to section
1437c of title
42, operating assistance provided pursuant to section
1437g of title
42, and modernization grants provided pursuant to section
1437l of title
42, to business concerns that provide economic opportunities for low- and very low-income persons.