611 
‘‘(ii) a population census tract that is 
treated as a low-income community under 
section 45D(e) of the Internal Revenue 
Code of 1986; or 
‘‘(iii) an area that significantly serves 
an adjacent area that meets the criteria 
described in clause (i) or (ii), as approved 
by the national fund manager. 
‘‘(E) UNDERSERVED CRITERIA.— 
‘‘(i) 
IN
GENERAL.—Each 
eligible 
project shall be located in an underserved 
area, as determined by the partnerships 
according to criteria established by the na-
tional fund manager. 
‘‘(ii) 
FACTORS.—In 
determining 
whether an area is an underserved area, 
the following factors shall be taken into 
consideration: 
‘‘(I) Population density. 
‘‘(II) Below average supermarket 
density or sales. 
‘‘(III) Car ownership. 
‘‘(IV) Geographical or physical 
barriers, such as highways, moun-
tains, major parks, or bodies of water. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00611
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
612 
‘‘(iii) LOCATIONS.—On an annual 
basis, the national fund manager shall col-
lect data and publish maps that show the 
location of underserved areas. 
‘‘(4) PRIORITY PROJECTS.— 
‘‘(A) IN GENERAL.—Priority shall be given 
to projects that— 
‘‘(i) are located in severely distressed 
low-income communities, as defined by the 
Community Development Financial Insti-
tutions Fund of the Department of the 
Treasury; and 
‘‘(ii) include 1 or more of the fol-
lowing characteristics: 
‘‘(I) The project will create or re-
tain quality jobs in the community, as 
determined in accordance with sub-
paragraph (B). 
‘‘(II) The project has community 
support in terms of store quality, af-
fordability, site location, and coordina-
tion with local community plans or 
other programs promoting community 
and economic development. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00612
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
613 
‘‘(III) The project supports re-
gional food systems and locally grown 
foods, to the extent available. 
‘‘(IV) 
In 
major 
metropolitan 
areas, the project is associated with a 
transit-oriented development project. 
‘‘(V) In areas with public transit, 
the project is accessible by public 
transit. 
‘‘(VI) The project involves the 
reuse of a building that is listed in or 
eligible for the National Register of 
Historic Places. 
‘‘(VII) The project involves a 
brownfield or grayfield (as those 
terms are used in the Comprehensive 
Environmental Response, Compensa-
tion, and Liability Act of 1980 (42 
U.S.C. 9601 et seq.)). 
‘‘(VIII) The estimated energy 
consumption of the project, calculated 
using building energy software ap-
proved by the Department of Energy, 
will qualify the project for designation 
under the Energy Star program estab-
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00613
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
614 
lished by section 324A of the Energy 
Policy and Conservation Act (42 
U.S.C. 6294a). 
‘‘(IX) 
The 
project 
involves 
women- and minority-owned busi-
nesses. 
‘‘(B) QUALITY
JOBS.—For purposes of 
subparagraph (A)(ii)(I), a quality job is a job 
that— 
‘‘(i) provides wages that are com-
parable to or better than similar positions 
in existing businesses of similar size in 
similar local economies; 
‘‘(ii) offers benefits that are com-
parable to or better than what is offered 
for similar positions in existing local busi-
nesses of similar size in similar local econo-
mies; and 
‘‘(iii) is targeted for residents of 
neighborhoods with a high proportion of 
persons of low income (as that term is de-
fined in section 102(a) of the Housing and 
Community Development Act of 1974 (42 
U.S.C. 5302(a))) through local targeted 
hiring programs. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00614
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
615 
‘‘(d) DUTIES OF THE SECRETARY.— 
‘‘(1) IN GENERAL.—The Secretary shall— 
‘‘(A) designate a national fund manager to 
manage national funds; 
‘‘(B) oversee the Initiative nationally; 
‘‘(C) work closely with the designated na-
tional fund manager— 
‘‘(i) to ensure that funds are used ap-
propriately and in the most effective man-
ner practicable; and 
‘‘(ii) to develop the program strategy 
into a detailed work plan, program, and 
operating budget; 
‘‘(D) review and approve the operating 
budget for the national fund manager to ensure 
that the administrative costs are— 
‘‘(i) reasonable (not more than 5 per-
cent of the total budget); 
‘‘(ii) connected to the costs of oper-
ations; and 
‘‘(iii) reflect efficient operations by the 
national fund manager; and 
‘‘(E) make available to the public an an-
nual report, using data obtained from the De-
partment of Agriculture, the Department of 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00615
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
616 
Health and Human Services, and the Commu-
nity Development Financial Institutions, that 
describes the impacts of the Initiative, including 
tracking health and economic development indi-
cators at the local, State, and national levels to 
determine the impacts of individual projects 
and the collective impact in local areas and 
statewide of funded projects and the Initiative 
overall. 
‘‘(2) NATIONAL
FUND
MANAGER.—The Sec-
retary shall— 
‘‘(A) select the national fund manager 
through a competitive process from among com-
munity development financial institutions that 
have a proven and recent track record of suc-
cess and effectiveness in— 
‘‘(i) attracting private capital; 
‘‘(ii) developing and managing pro-
grams that provide grants and loans to 
support supermarkets and other fresh, 
healthy food retail business enterprises in 
low- and moderate-income communities, in-
cluding the development of grocery stores, 
farmers markets, and other fresh, healthy 
food retail models; 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00616
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
617 
‘‘(iii) making and servicing loans that 
are similar to loans proposed in the Initia-
tive or having a record of otherwise suc-
cessfully investing in fresh, healthy food 
retail development projects; 
‘‘(iv) effectively managing multiple 
contracts and subcontractors; 
‘‘(v) effectively managing large capital 
pools, of at least $100,000,000; and 
‘‘(vi) providing or contracting for the 
provision of technical assistance; and 
‘‘(B) administer the Initiative by approving 
the disbursement of funds to the national fund 
manager in a manner that facilitates the imple-
mentation of the overall Initiative. 
‘‘(3) COORDINATION.— 
‘‘(A) IN
GENERAL.—Not later than 45 
days after the date of receipt of an award, the 
national fund manager shall develop, with guid-
ance from and in consultation with the Sec-
retary, and submit to the Secretary, a detailed 
work plan. 
‘‘(B) APPROVAL
REQUIRED.—The Sec-
retary shall review and approve the work plan, 
program budget, and administrative costs under 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00617
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
618 
subsection (e)(4)(C) prior to entering into an 
agreement with the national fund manager to 
administer the Initiative. 
‘‘(4) PERFORMANCE TARGETS.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
conduct financial audits of, and establish per-
formance targets for, the national fund man-
ager, which shall include, at a minimum, the re-
quirements described in this paragraph. 
‘‘(B) GEOGRAPHIC SPREAD.—Partnerships 
funded by the Initiative shall be geographically 
diverse and representative of the underserved 
areas across the United States. 
‘‘(C) FOCUS
ON
LOW-INCOME
COMMU-
NITIES.—A substantial portion of the projects 
funded by partnerships shall serve very low- 
and low-income communities, as defined by the 
Bureau of the Census of the Department of 
Commerce. 
‘‘(D) FINANCIAL EFFECTIVENESS OF THE 
NATIONAL FUND MANAGER.—The national fund 
manager and any local financial institution in-
volved in a partnership shall demonstrate on- 
going capacity and timeliness in raising private 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00618
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
619 
capital and disbursing funds as required under 
the Initiative. 
‘‘(E) TECHNICAL ASSISTANCE EFFECTIVE-
NESS OF THE NATIONAL FUND MANAGER.—The 
provision of technical assistance by the national 
fund manager shall be evaluated based on— 
‘‘(i) the responsiveness of the national 
fund manager to requests for assistance; 
and 
‘‘(ii) the ability of the national fund 
manager to craft programs that develop 
needed new capacities in partnerships. 
‘‘(F) IMPACT.—Performance targets shall 
address the allocation of funds by the national 
fund manager to partnerships and the tracking 
and reporting of the impacts of the funds in im-
proving access to fresh, healthy foods and in 
achieving other related impacts. 
‘‘(e) DUTIES OF THE NATIONAL FUND MANAGER.— 
‘‘(1) ALLOCATION OF FUNDS.— 
‘‘(A) IN
GENERAL.—The national fund 
manager shall— 
‘‘(i) allocate at least 70 percent of any 
Federal appropriation made to carry out 
this section to partnerships that are se-
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00619
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
620 
lected based on the criteria described in 
paragraph (3); and 
‘‘(ii) retain not more than 30 percent 
of any Federal appropriation made to 
carry out this section to undertake financ-
ing activities described in subparagraph 
(C), including a reasonable amount for ad-
ministrative costs (not to exceed 5 percent) 
approved by the Secretary in accordance 
with paragraph (4)(C). 
‘‘(B) USE OF THE NATIONAL FUNDS BY 
PARTNERSHIP PROGRAMS.— 
‘‘(i) IN GENERAL.—As a condition on 
the receipt of funds, each partnership shall 
use— 
‘‘(I) the national funds received 
from the national fund manager under 
subparagraph (A)(i) to create 1 or 
more revolving loan programs or other 
revolving pools of capital or other 
products to facilitate financing of local 
projects as determined by the agree-
ment between the partnership and the 
national fund manager; and 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00620
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
621 
‘‘(II) any remaining funds for 
grants, or, as approved, for innovative 
financing mechanisms. 
‘‘(ii) LIMITATIONS.— 
‘‘(I) IN GENERAL.—Use of funds 
for administrative costs and other 
purposes shall be— 
‘‘(aa) limited in accordance 
with the terms of the agreement 
negotiated between the national 
fund manager and partnerships; 
‘‘(bb) based on whether ad-
ministrative costs are reasonable, 
connected to the costs of oper-
ation, and reflect efficient oper-
ations by the partnership; and 
‘‘(cc) determined using cri-
teria including geographic cov-
erage, program duration, and 
total funding amount. 
‘‘(II) GOAL.—The goal of this 
clause to limit administrative costs to 
the maximum extent practicable, but 
in no case may the amount used for 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00621
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
622 
administrative costs exceed 10 percent 
of the Federal funds allocated. 
‘‘(C) USE OF THE NATIONAL FUNDS BY 
THE NATIONAL FUND MANAGER.—The national 
fund manager shall use national funds de-
scribed in subparagraph (A)(ii) to undertake fi-
nancing and other activities to enhance and 
maximize the effectiveness of the Initiative, as 
determined by the agreement with the Sec-
retary, including— 
‘‘(i) attracting other forms of financial 
assistance to match or leverage the na-
tional funds; 
‘‘(ii) awarding national funds to part-
nerships in accordance with paragraph (3); 
‘‘(iii) creating and managing pools of 
grant or loan capital that blend or leverage 
national funds with other forms of finan-
cial assistance, including capital in the 
form of tax credits under section 45D of 
the Internal Revenue Code of 1986, for the 
benefit of partnerships; 
‘‘(iv) creating and managing pools of 
grant or loan capital that blend or leverage 
the national funds with other forms of fi-
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00622
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
623 
nancial assistance, including capital in the 
form of tax credits under section 45D of 
the Internal Revenue Code of 1986, to fi-
nance eligible local projects identified by 
partnerships or the national fund manager 
that have special or unique characteristics; 
‘‘(v) providing loans or grants directly 
to eligible local projects as matching funds 
if requested by a partnership; 
‘‘(vi) providing credit enhancement or 
other financial products and instruments 
for the benefit of partnerships or eligible 
local projects; 
‘‘(vii) providing technical assistance; 
and 
‘‘(viii) funding reasonable administra-
tive costs approved by the Secretary in ac-
cordance with paragraph (4)(C). 
‘‘(2) RESPONSIBILITIES
OF
THE
NATIONAL 
FUND
MANAGER.—The designated national fund 
manager shall— 
‘‘(A) raise other forms of financial assist-
ance to match or leverage the national funds; 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00623
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
624 
‘‘(B) use administrative funds to develop 
appropriate training programs and offer tech-
nical assistance services to— 
‘‘(i) partnerships; 
‘‘(ii) State, local, and tribal govern-
ments; 
‘‘(iii) the food retail industry; and 
‘‘(iv) food access and health advocacy 
organizations to augment local capacities; 
‘‘(C) develop financial products such as 
loans, grants, and credit enhancement tools 
that can be used by partnerships to incentivize 
and support the development and retention of 
supermarkets and other fresh, healthy food re-
tail in underserved areas; 
‘‘(D) award Initiative funds to eligible 
partnerships through an annual competitive 
process in accordance with paragraph (3); 
‘‘(E) contract with a national food access 
organization to assist in the review of applica-
tions from partnerships and to provide technical 
assistance to local food access organizations in 
the proposed partnerships; 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00624
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
625 
‘‘(F) award and disburse funds to partner-
ships or eligible local projects in a timely man-
ner; 
‘‘(G) create and meet performance bench-
marks and reporting guidelines, as approved by 
the Secretary, including for— 
‘‘(i) the amount of capital raised and 
leveraged from financial institutions, part-
nerships, and other resources; 
‘‘(ii) the geographic diversity of part-
nerships; and 
‘‘(iii) the proportion of projects fund-
ed by the partnership that are in severely 
distressed low-income communities; 
‘‘(H) develop program guidelines and oper-
ating procedures for the Initiative, including— 
‘‘(i) 
maximum 
grant 
and 
loan 
amounts for projects; 
‘‘(ii) eligible uses of funds; 
‘‘(iii) prudent underwriting criteria; 
‘‘(iv) performance targets; 
‘‘(v) reporting guidelines; 
‘‘(vi) limits on administrative costs; 
and 
‘‘(vii) implementation milestones; 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00625
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
626 
‘‘(I) monitor the performance of partner-
ships; and 
‘‘(J) collect data, compile information, and 
conduct such research studies as the national 
fund manager determines to be relevant to the 
successful implementation of the Initiative, in-
cluding— 
‘‘(i) to assess national and local mar-
ket conditions; 
‘‘(ii) to determine barriers to market 
entry; and 
‘‘(iii) to identify opportunities for the 
development or retention of supermarkets 
and other fresh, healthy food retail enter-
prises in underserved communities. 
‘‘(3) CRITERIA
FOR
AWARDING
NATIONAL 
FUNDS TO PARTNERSHIPS.— 
‘‘(A) IN
GENERAL.—The national fund 
manager shall award national funds to partner-
ships through a competitive process on an an-
nual basis. 
‘‘(B) FIRST
ROUND
PRIORITY.—In the 
first round of funding, the national fund man-
ager shall give priority to existing partnerships 
that have demonstrable capacity to implement 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00626
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
627 
fresh food financing programs in underserved 
areas quickly. 
‘‘(C) ADDITIONAL
ROUNDS.—Additional 
rounds shall be designed to promote geographic 
diversity. 
‘‘(D) CRITERIA.—In awarding national 
funds to partnerships, the national fund man-
ager shall consider— 
‘‘(i) the amount of funds and other 
resources pledged by a partnership to 
match or leverage national funds; 
‘‘(ii) the degree of State, local, or trib-
al government support of the partnership 
as evidenced by matching grant and loan 
funds or other types of support, such as al-
location of tax-exempt bonds, loan guaran-
tees, and coordination of resources from 
other State or local economic development 
programs; 
‘‘(iii) the capacity of the partnership 
to successfully develop and manage loan 
and grant programs; 
‘‘(iv) the lack of supermarkets and 
other fresh, healthy food retail enterprises 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00627
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
628 
in low- and moderate-income areas that 
would be served by the partnership; 
‘‘(v) the experience of the food access 
or community health organization of the 
partnership in outreach about access to 
healthy foods and local healthy food access 
issues; 
‘‘(vi) the degree of community engage-
ment and support in the development and 
retention of supermarkets and other fresh, 
healthy food retail enterprises; and 
‘‘(vii) the contribution of the program 
of the partnership to the overall geographic 
diversity of the Initiative. 
‘‘(4) ADMINISTRATIVE COSTS.— 
‘‘(A) IN
GENERAL.—Not later than 45 
days after the date of receipt of an award, the 
national fund manager shall submit to the Sec-
retary for approval a 3-year program and oper-
ating budget and detailed work plan that shall 
include— 
‘‘(i) costs for research and evaluation, 
technical assistance, and training; and 
‘‘(ii) program and operating costs. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00628
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
629 
‘‘(B) EARNED
REVENUES.—Earned reve-
nues from loan fees and interest may be ex-
pended on program and operating costs in ac-
cordance with the budget approved by the Sec-
retary. 
‘‘(C) BASIS
OF
REVIEW.—The Secretary 
shall base the review under subparagraph (A) 
on— 
‘‘(i) the likelihood of the plan and ex-
penditures to further the purposes of this 
section; and 
‘‘(ii) whether the administrative costs 
are reasonable, connected to the costs of 
operation, and reflect efficient operations 
by the national fund manager. 
‘‘(f) PARTNERSHIPS.— 
‘‘(1) IN GENERAL.—Each partnership that re-
ceives assistance through the Initiative shall provide 
financial and technical assistance to eligible fresh, 
healthy food retail projects in underserved areas 
within the defined communities of the partnership. 
‘‘(2) ADMINISTRATION.—Each partnership shall 
designate a community development financial insti-
tution or other organization that is capable of ad-
ministering a loan and grant program— 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00629
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
630 
‘‘(A) to execute grant agreements with the 
national fund manager; and 
‘‘(B) to serve as the manager of local 
funds. 
‘‘(3) RESPONSIBILITIES OF PARTNERSHIPS.—A 
partnership shall— 
‘‘(A) raise other forms of financial assist-
ance to match the national funds received by 
the partnership; 
‘‘(B) provide marketing and outreach to 
communities, the supermarket industry, other 
fresh, healthy food retailers, State and local 
government officials, and civic and public inter-
est organizations— 
‘‘(i) to solicit applications from under-
served areas from across the State or local-
ity to be served by the partnership; and 
‘‘(ii) to inform the communities and 
other persons about the availability of 
grants, loans, training, and technical as-
sistance; 
‘‘(C) review and underwrite projects to de-
termine whether— 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00630
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
631 
‘‘(i) a proposed project meets the cri-
teria for eligible projects under subsection 
(c)(3); and 
‘‘(ii) a proposed project meets the cri-
teria for priority projects under subsection 
(c)(4); 
‘‘(D) provide technical assistance services 
to eligible fresh, healthy food retail operators 
and developers; 
‘‘(E) track and report outcomes, includ-
ing— 
‘‘(i) the number of jobs created or re-
tained; 
‘‘(ii) the quantity of fresh, healthy 
food retail space created or retained; and 
‘‘(iii) such other health and economic 
indicators as are required by the national 
fund manager; 
‘‘(F) monitor and audit funded projects to 
ensure compliance with the Initiative, the na-
tional fund manager, and partnership program 
requirements for a period of at least 3 years; 
‘‘(G) submit an annual report to the na-
tional fund manager that describes— 
‘‘(i) the activities of the partnership; 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00631
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
632 
‘‘(ii) the expenditure of local funds; 
and 
‘‘(iii) success in meeting performance 
targets and satisfying such other terms 
and conditions as are specified in the 
agreement between the partnership and the 
national fund manager; and 
‘‘(H) coordinate with the national fund 
manager for the smooth operation of the Initia-
tive. 
‘‘(4) ADMINISTRATIVE COSTS.— 
‘‘(A) IN GENERAL.—As a condition on the 
receipt of assistance under this section, each 
partnership shall submit to the national fund 
manager for approval a 3-year budget and plan 
for all program and operating costs, includ-
ing— 
‘‘(i) costs for research and evaluation, 
technical assistance, and training; and 
‘‘(ii) administrative and operating 
costs. 
‘‘(B) EARNED
REVENUES.—Earned reve-
nues from loan fees and interest may be ex-
pended on program and operating costs in ac-
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00632
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
633 
cordance with the budget approved by the na-
tional fund manager. 
‘‘(C) BASIS
OF
REVIEW.—The national 
fund manager shall base the review under sub-
paragraph (A) on the likelihood of the budget 
and plan to further the purposes of this section. 
‘‘(g) EVALUATION AND MONITORING.— 
‘‘(1) IN GENERAL.—Program evaluation and fi-
nancial audits shall occur at all levels of the Initia-
tive to ensure that— 
‘‘(A) national and local funds are used 
properly; and 
‘‘(B) the objectives of the Initiative are 
met. 
‘‘(2) PROGRAM
EVALUATION
AND
FINANCIAL 
AUDITS.— 
‘‘(A) IN GENERAL.—The Secretary shall— 
‘‘(i) conduct periodic program evalua-
tions and financial audits of the national 
fund manager, partnerships, and projects 
funded by the Initiative; and 
‘‘(ii) share with the national fund 
manager the results of the evaluations and 
audits. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00633
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS
634 
‘‘(B) FUNDED PROJECTS.—The Secretary 
or the national fund manager shall evaluate 
partnerships to assess the health and economic 
impacts of projects funded by the Initiative. 
‘‘(C) OTHER IMPACTS.— 
‘‘(i) SECRETARY
OF
HEALTH
AND 
HUMAN
SERVICES.—The 
Secretary 
of 
Health and Human Services shall conduct 
research studies and evaluate the health 
impacts of the Initiative. 
‘‘(ii) COMMUNITY DEVELOPMENT FI-
NANCIAL
INSTITUTIONS.—Representatives 
of the Community Development Financial 
Institutions shall conduct research studies 
and evaluate the economic impacts of the 
Initiative. 
‘‘(D) PARTNERSHIPS.— 
‘‘(i) IN GENERAL.—Each partnership 
shall— 
‘‘(I) conduct periodic administra-
tive and financial audits of projects 
funded by the Initiative; and 
‘‘(II) share with the national 
fund manager the results of the au-
dits. 
VerDate Mar 15 2010 
22:29 Sep 20, 2011
Jkt 099200
PO 00000
Frm 00634
Fmt 6652
Sfmt 6201
E:\BILLS\H2954.IH
H2954
emcdonald on DSK5VPTVN1PROD with BILLS