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. 
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‘‘(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— 
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‘‘(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— 
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‘‘(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; 
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‘‘(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-
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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. 
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