Page:United States Statutes at Large Volume 108 Part 3.djvu/420

 108 STAT. 2172 PUBLIC LAW 103-325—SEPT. 23, 1994 (e) OTHER REQUIREMENTS AND LIMITATIONS. —All other requirements and limitations imposed by this subtitle on a community development financial institution assisted under this subtitle shall apply (in the manner that the Fund determines to be appropriate) to assistance provided to carry out community partnerships. The Fund may establish additional guidelines and restrictions on the use of Federal funds to carry out community partnerships. 12 USC 4706. SEC. 107. SELECTION OF INSTITUTIONS. (a) SELECTION CRITERIA.— Except as provided in section 113, the Fund shall, in its sole discretion, select community development financial institution applicants meeting the requirements of section 105 for assistance based on— (1) the likelihood of success of the applicant in meeting the goals of its comprehensive strategic plan; (2) the experience and background of the management team; (3) the extent of need for equity investments, loans, and development services within the investment areas or targeted populations; (4) the extent of economic distress within the investment areas or the extent of need within the targeted populations, as those factors are measured by objective criteria; (5) the extent to which the applicant will concentrate its activities on serving its investment areas or targeted populations; (6) the amount of firm commitments to meet or exceed the matching requirements and the likely success of the plan for raising the balance of the match; (7) the extent to which the matching funds are derived from private sources; (8) the extent to which the proposed activities will expand economic opportunities within the investment areas or the targeted populations; (9) whether the applicant is, or will become, an insured community development financial institution; (10) the extent of support from the investment areas or targeted populations; (11) the extent to which the applicant is, or will be, community-owned or community-governed; (12) the extent to which the applicant will increase its resources through coordination with other institutions or participation in a secondary market; (13) in the case of an applicant with a prior history of serving investment areas or targeted populations, the extent of success in serving them; and (14) other factors deemed to be appropriate by the Fund. (b) GEOGRAPHIC DIVERSITY. —In selecting applicants for assistance, the Fund shall seek to fund a geographically diverse group of applicants, which shall include applicants from metropolitan, nonmetropolitan, and rural areas. 12 USC 4707. SEC. 108. ASSISTANCE PROVIDED BY THE FXWD. (a) FORMS OF ASSISTANCE.— (1) IN GENERAL.— The Fund may provide— (A) financial assistance through equity investments, deposits, credit union shares, loans, and grants; and (B) technical assistance—

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