Page:United States Statutes at Large Volume 108 Part 3.djvu/418

 108 STAT. 2170 PUBLIC LAW 103-325—SEPT. 23, 1994 (6) TRANSITION EXPENSES. —Amounts previously appropriated to the Department of the Treasury may be used to pay obligations and expenses of the Fund incurred under this section, and such amounts may be reimbursed by the Fund to the Department of the Treasury from amounts appropriated to the Fund for fiscal year 1995. (7) DEFINITION,—For purposes of this subsection, the term "transition period" means the period beginning on the date of enactment of this Act and ending on the date on which the Administrator is appointed. 12 USC 4704. SEC. 105. APPLICATIONS FOR ASSISTANCE. (a) FORM AND PROCEDURES.— An application for assistance under this subtitle shall be submitted in such form and in accordance with such procedures as the Fund shall establish. (b) MINIMUM REQUIREMENTS. —Except as provided in sections 106 and 113, the Fund shall require an application— (1) to establish that the applicant is, or will be, a community development financial institution; (2) to include a comprehensive strategic plan for the organization that contains— (A) a business plan of not less than 5 years in duration that demonstrates that the applicant will be properly managed and will have the capacity to operate as a community development financial institution that will not be dependent upon assistance from the Fund for continued viability; (B) an analysis of the needs of the investment area or targeted population and a strategy for how the applicant will attempt to meet those needs; (C) a plan to coordinate use of assistance from the Fund with existing Federal, State, local, and tribal government assistance programs, and private sector financial services; (D) an explanation of how the proposed activities of the applicant are consistent with existing economic, community, and housing development plans adopted by or applicable to an investment area or targeted population; and (E) a description of how the applicant will coordinate with community organizations and financial institutions which will provide equity investments, loans, secondary markets, or other services to investment areas or targeted populations; (3) to include a detailed description of the applicant's plans and likely sources of funds to match the amount of assistance requested from the Fund; (4) in the case of an applicant that has previously received assistance under this subtitle, to demonstrate that the applicant— (A) has substantially met its performance goals and otherwise carried out its responsibilities under this subtitle and the assistance agreement; and (B) will expand its operations into a new investment area or serve a new targeted population, offer more products or services, or increase the volume of its business;

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