§4704. Applications for assistance — Inbound Citations
12 U.S.C. § 4704
Cited by 8 provisions in release 119-102.
Citations to 12 U.S.C. § 4704 as a whole
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(1) has received assistance within the preceding 12-month period, or has an application for assistance pending, under section 4704 of this title; or
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(A) meeting the minimum selection criteria described in section 4704 of this title; and
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(a) Except as provided in section 4712 of this title, the Fund shall, in its sole discretion, select community development financial institution applicants meeting the requirements of section 4704 of this title 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.
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(I) meets the selection criteria described in section 4704 of this title; and
Citations to §4704(b)
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(1) to meet the minimum requirements established for community development financial institutions under section 4704(b) of this title, except that the criteria specified in paragraphs (1) and (2)(A) of section 4704(b) of this title shall not apply to the community partner;
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(b) The selection of organizations to receive assistance under this section shall be at the discretion of the Fund and in accordance with criteria established by the Fund. In establishing such criteria, the Fund shall take into account the criteria contained in sections 4704(b) and 4706 of this title, as appropriate.
Citations to §4704(b)(2)
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(B) Performance goals shall be negotiated between the Fund and each community development financial institution receiving assistance based upon the strategic plan submitted pursuant to section 4704(b)(2) of this title. Such goals may be modified with the consent of the parties, or as provided in subparagraph (C). Performance goals for insured community development financial institutions shall be determined in consultation with the appropriate Federal banking agency.
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(ii) require changes to the strategic plan submitted pursuant to section 4704(b)(2) of this title;