650 
the objective, which may include pro-
grams— 
‘‘(I) for applied research and fea-
sibility studies that may be useful to 
individuals, cooperatives, small busi-
nesses, and other similar entities in 
rural areas served by the center; 
‘‘(II) for the collection, interpre-
tation, and dissemination of informa-
tion that may be useful to individuals, 
cooperatives, small businesses, and 
other similar entities in rural areas 
served by the center; 
‘‘(III) providing training and in-
struction for individuals, cooperatives, 
small businesses, and other similar 
entities in rural areas served by the 
center; 
‘‘(IV) providing loans and grants 
to individuals, cooperatives, small 
businesses, and other similar entities 
in rural areas served by the center; 
‘‘(V) providing technical assist-
ance, research services, and advisory 
services to individuals, cooperatives, 
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small businesses, and other similar 
entities in rural areas served by the 
center; and 
‘‘(VI) providing for the coordina-
tion of services and sharing of infor-
mation by the center. 
‘‘(iv) A description of the contribu-
tions that the activities are likely to make 
to the improvement of the economic condi-
tions of the rural areas for which the cen-
ter will provide services. 
‘‘(v) Provisions that the center, in car-
rying out the activities, will seek, if appro-
priate, the advice, participation, expertise, 
and assistance of representatives of busi-
ness, industry, educational institutions, the 
Federal Government, and State and local 
governments. 
‘‘(vi) Provisions that the center will 
take all practicable steps to develop con-
tinuing sources of financial support for the 
center, particularly from sources in the pri-
vate sector. 
‘‘(vii) Provisions for— 
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‘‘(I) monitoring and evaluating 
the activities by the nonprofit institu-
tion operating the center; and 
‘‘(II) accounting for funds re-
ceived by the institution under this 
section. 
‘‘(5) AWARDING GRANTS.— 
‘‘(A) IN
GENERAL.—Grants made under 
paragraph (2) shall be made on a competitive 
basis. 
‘‘(B) PREFERENCE.—In making grants 
under paragraph (2), the Secretary shall give 
preference to grant applications providing for 
the establishment of centers for rural coopera-
tive development that— 
‘‘(i) demonstrate a proven track 
record in carrying out activities to promote 
and assist the development of cooperatively 
and mutually owned businesses; 
‘‘(ii) demonstrate previous expertise in 
providing technical assistance in rural 
areas to promote and assist the develop-
ment of cooperatively and mutually owned 
businesses; 
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‘‘(iii) demonstrate the ability to assist 
in the retention of businesses, facilitate the 
establishment of cooperatives and new co-
operative approaches, and generate em-
ployment opportunities that will improve 
the economic conditions of rural areas; 
‘‘(iv) commit to providing technical 
assistance and other services to under-
served and economically distressed areas in 
rural areas of the United States; 
‘‘(v) demonstrate a commitment to— 
‘‘(I) networking with and sharing 
the results of the efforts of the center 
with other cooperative development 
centers and other organizations in-
volved in rural economic development 
efforts; and 
‘‘(II) developing multiorganiza-
tion and multistate approaches to ad-
dressing the economic development 
and cooperative needs of rural areas; 
and 
‘‘(vi) commit to providing a 25 per-
cent matching contribution with private 
funds and in-kind contributions, except 
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