42-U.S.C.-13822
§13822 – Provision of Assistance
Pathway
Title 42 > Chapter 136 > Subchapter II > Part G > Subpart 1 > Section 13822
Details
- Reference: Section 13822
- Legend: §13822 – Provision of Assistance
- USCode Year: 2011
Provision Content
(a) Authority
The Secretary of Health and Human Services (referred to in this part as the “Secretary”) may, in accordance with this subpart, provide nonrefundable lines of credit to community development corporations for the establishment, maintenance or expansion of revolving loan funds to be utilized to finance projects intended to provide business and employment opportunities for low-income, unemployed, or underemployed individuals and to improve the quality of life in urban and rural areas.
(b) Revolving loan funds
(1) Competitive assessment of applications
In providing assistance under subsection (a) of this section, the Secretary shall establish and implement a competitive process for the solicitation and consideration of applications from eligible entities for lines of credit for the capitalization of revolving funds.
(2) Eligible entities
To be eligible to receive a line of credit under this subpart an applicant shall—
(A) be a community development corporation;
(B) prepare and submit an application to the Secretary that shall include a strategic investment plan that identifies and describes the economic characteristics of the target area to be served, the types of business to be assisted and the impact of such assistance on low-income, underemployed, and unemployed individuals in the target area;
(C) demonstrate previous experience in the development of low-income housing or community or business development projects in a low-income community and provide a record of achievement with respect to such projects; and
(D) have secured one or more commitments from local sources for contributions (either in cash or in kind, letters of credit or letters of commitment) in an amount that is at least equal to the amount requested in the application submitted under subparagraph (B).
(3) Exception
Notwithstanding the provisions of paragraph (2)(D), the Secretary may reduce local contributions to not less than 25 percent of the amount of the line of credit requested by the community development corporation if the Secretary determines such to be appropriate in accordance with section 13826 of this title.
(Pub. L. 103–322, title III, §31112, Sept. 13, 1994, 108 Stat. 1882.)
U.S. Encyclopedia of Law Coverage
42-U.S.C.-13741 in the Legal Encyclopedia: Crime Control
In this entry about 42-U.S.C.-13741, find legal reference material, bibliographies and premiere content related to crime control in the American Encyclopedia of Law, presenting a comprehensive view of the United States crime control-specific issues, written by authorities in the field.
42-U.S.C.-13811 in the Legal Encyclopedia: Violent Crime Control
In this entry about 42-U.S.C.-13811, find legal reference material, bibliographies and premiere content related to violent crime control in the American Encyclopedia of Law, presenting a comprehensive view of the United States violent crime control-specific issues, written by authorities in the field.
Part D – Family and Community Endeavor Schools Grant Program in the Legal Encyclopedia: Law Enforcement
In this entry about Part D – Family and Community Endeavor Schools Grant Program, find legal reference material, bibliographies and premiere content related to law enforcement in the American Encyclopedia of Law, presenting a comprehensive view of the United States law enforcement-specific issues, written by authorities in the field.
Leave a Reply