(A) has successfully carried out its respon-
sibilities under this Act;
(B) has become or is about to become an
entity that will not be dependent upon assist-
ance from the Fund for continued viability; and
(C) will expand its operations into a new
investment area, offer new services, or will in-
crease the volume of its current business;
(4) in the case of a community development fi-
nancial institution with existing operations, dem-
onstrate a record of success of serving investment
areas or targeted populations;
(5) include a detailed and comprehensive strate-
gic plan for the organization that contains—
(A) a business plan of at least five years
that demonstrates the applicant is properly
managed and has the capacity to form and op-
erate a community development financial insti-
tution that is, or will become, an entity that will
not be dependent upon assistance from the
Fund for continued viability;
(B) a statement that the applicant has, or
will have, in its charter or other governing doc-
uments a primary commitment to community
development, or other evidence of a prior his-
tory and a continuing affirmation of a primary
commitment of community development;
(C) an analysis of the needs of the invest-
ment area or targeted populations and a strat-
egy for how the applicant will attempt to meet
those needs;
(D) a plan to coordinate use of assistance
from the Fund with existing Federal, govern-
ment-sponsored enterprise, and State and local
assistance programs, and private sector finan-
cial services;
(E) a statement that the proposed activi-
ties of the applicant are consistent with existing
economic, community and housing development
plans adopted by or applicable to the invest-
ment area;
(F) a description of how the applicant will
affiliate, network, or otherwise coordinate with
a full range of community organizations and fi-
nancial institutions which provide, or will pro-
vide, capital, credit, or secondary markets in
order to assure that banking, economic develop-
ment, investment, affordable housing, and other
related services will be available within the in-
vestment area or to targeted populations; and
(G) such other information as the Board
deems appropriate for inclusion in the strategic
plan;
(6) demonstrate that the applicant will carry on
its activities consistent with the purposes of this Act
within the investment area or with respect to a tar-
geted population;
(7) include a detailed and specific statement of
applicant’s plans and likely sources of funds to
match the amount of assistance from the Fund with
funds from private sources in accordance with the
requirements of section 7(d) of this Act; and
(8) include such other information as the Board
may require.
(c) PRE-APPLICATION OUTREACH PROGRAM.—The
Fund shall provide for an outreach program to identify
and provide information to potential applicants and to in-
crease the capacity of potential applicants to meet the ap-
plication and other requirements of this Act.
SEC. 6. SELECTION OF INSTITUTIONS.
(a) SELECTION CRITERIA.—The Board shall, in its
discretion, select applications that meet the requirements
of section 5 of this Act and award assistance from the
Fund in accordance with section 7 of this Act. In selecting