Page:United States Statutes at Large Volume 106 Part 5.djvu/222

 106 STAT. 3860 PUBLIC LAW 102-550—OCT. 28, 1992 (F) institutions, such as South Shore Bank (Chicago, Illinois), Southern Development Bancorporation (Arkadelphia, Arkansas), Center for Community iSelf Help (Durham, North Carolina), and Community Capital Bank (Brooklyn, New York), with a primary mission of promoting community development have proven their ability to promote revitalization and are appropriate models for restoring economic stability and growth in distressed communities and neighborhoods. (2) PURPOSES. —The demonstration program carried out under this section shall— (A) improve access to capital for initiatives which benefit residents and businesses in targeted geographic areas; and (B) test new models for bringing credit and investment capital to targeted geographic areas and low-income persons in such areas through the provision of assistance for capital, development services, and technical assistance (3) DEFINITIONS. —As used in this section— (A) the term "Federal financial supervisory agency' means— (i) the Comptroller of the Currency with respef t to national banks; (ii) the Board of (lovemors of the Federal Reser e System with respect to State-chartered banks which are members of the Federal Reserve System and ba: ik holding companies; (iii) the Federal Deposit Insurance Corporation with respect to State-chartered banks and savings banks which are not members of the Federal Rese eve System and the deposits of which are insured by th3 Federal Deposit Insurance Corporation; (iv) the National Credit Union Administra don Board with respect to insured credit union associations; and (v) the Office of Thrift Supervision with re pect to insured savings associations and savings and loan holding companies that are not bank hciding companies; (B) the term "community investment corpontion" means an eligible organization selected by the Secetary to receive assistance pursuant to this section; (C) the term "development services" means activities that are consistent with the purposes of this sectir n and which support and strengthen the lending and investment activities undertaken by eligible organizations including— (i) the development of real estate; (ii) administrative activities associated with the extension of credit or necessary to make an investment; (iii) marketing and management assistance; (iv) business planning and counseling services; and (v) other capacity building activities whici enable borrowers, prospective borrowers, or entities in which eli^ble organizations have invested, or expect M invest, to improve the likelihood of success of their activities; (D) the term "eligible organization" means ail entity— (i) that is organized as—

�