(C) other pertinent information that the 
Secretary may require. 
(2) REVIEW OF PLAN.—The Secretary shall re-
view the strategic plan submitted under paragraph 
(1) and ensure that the administrative costs will not 
exceed 
the 
limitation 
provided 
under 
section 
5(a)(2)(B)(i). 
(3) APPROVAL REQUIRED.—Not later than 60 
days after the submittal of the strategic plan under 
paragraph (1), the Secretary shall approve or reject 
such plan. In the case that the Secretary— 
(A) approves such plan, the Secretary shall 
disperse national center funds within 1 year 
after such approval; or 
(B) rejects such plan, not later than 60 
days after such rejection, such national center 
shall resubmit a revised plan. 
(d) ESTABLISHING PERFORMANCE TARGETS.— 
(1) HUD.—The Secretary shall establish per-
formance targets for the national cooperative devel-
opment center, which shall include, at a minimum, 
the following requirements: 
(A) FOCUS
ON
WOMEN- AND
MINORITY- 
OWNED COOPERATIVE ORGANIZATIONS.—A sig-
nificant percentage of projects funded with na-
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tional center funds shall involve cooperative or-
ganizations that are women- or minority-owned. 
(B) FOCUS ON UNDERSERVED AREAS.—A 
substantial portion of the projects funded by 
local cooperative development centers with na-
tional center funds shall serve communities lo-
cated in an underserved area. 
(C) EFFECTIVENESS OF ASSISTANCE.—As-
sistance provided by the national cooperative 
development center to local cooperative develop-
ment centers shall be evaluated based on— 
(i) the level of responsiveness of the 
national cooperative development center to 
requests for assistance; 
(ii) the ability of the national coopera-
tive development center to craft programs 
that help local cooperative development 
centers establish new cooperative organiza-
tions; and 
(iii) measurable economic results in 
local communities that local cooperative de-
velopment centers serve. 
(2) LOCAL COOPERATIVE DEVELOPMENT CEN-
TERS.—Each local cooperative development center 
awarded national center funds shall establish, in co-
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ordination with the national cooperative development 
center, performance targets that must be met at the 
end of each year in which the entity receives grant 
funds. Such targets shall be approved by the na-
tional cooperative development center. 
SEC. 5. NATIONAL COOPERATIVE DEVELOPMENT CENTER. 
(a) DUTIES OF THE NATIONAL COOPERATIVE DE-
VELOPMENT CENTER.— 
(1) IN GENERAL.—The national cooperative de-
velopment center shall— 
(A) submit to the Secretary a strategic 
plan in accordance with section (4)(c)(1); 
(B) develop technical assistance, edu-
cational, and other materials to assist local co-
operative development centers that are receiving 
national center funds develop cooperative orga-
nizations; 
(C) monitor and evaluate the performance 
of such local centers; 
(D) provide guidance, information on best 
practices, and technical assistance to commu-
nities seeking to establish cooperative organiza-
tions; 
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(E) establish the eligibility criteria for 
projects to be carried out using national center 
funds; and 
(F) develop program and reporting guide-
lines, as approved by the Secretary. 
(2) USE OF NATIONAL CENTER FUNDS.— 
(A) IN GENERAL.—The national coopera-
tive development center may use national center 
funds to undertake activities that promote coop-
erative development, including— 
(i) distributing national center funds 
to local cooperative development centers, 
either selected under clause (i) of subpara-
graph (C) or established under subsection 
(b), in accordance with such subparagraph; 
(ii) partnering with a financial institu-
tion to— 
(I) establish a revolving loan pro-
gram, subject to the limitation under 
subparagraph (B)(ii)(II), that will 
provide loans to cooperative organiza-
tions; and 
(II) develop other loan programs 
and financial products that can be 
accessed by local cooperative develop-
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ment centers to support the develop-
ment and retention of cooperative or-
ganizations; 
(iii) providing technical assistance in 
areas where local cooperative development 
centers do not provide such assistance, es-
pecially assistance for cooperative organi-
zations at the national level; 
(iv) funding reasonable administrative 
costs approved by the Secretary in accord-
ance with section 4(c)(3); 
(v) providing funding for ongoing pro-
fessional training of providers of technical 
assistance and supporting existing profes-
sional development training for organiza-
tions engaged in cooperative development; 
(vi) establishing and developing local 
cooperative development centers pursuant 
to subsection (b); and 
(vii) carrying out any other activities 
that promote cooperative development, as 
determined by the Secretary. 
(B) ALLOCATION
OF
NATIONAL
CENTER 
FUNDS.—The national cooperative development 
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center shall allocate national center funds in the 
following manner: 
(i) Shall reserve not more than 10 
percent for administrative purposes. 
(ii) Of the national center funds not 
allocated for administrative costs under 
clause (i)— 
(I) 55 percent shall be awarded 
to local cooperative development cen-
ters; and 
(II) 45 percent shall be allocated 
to establish the revolving loan pro-
gram referred to clause (ii)(I) of sub-
paragraph (A) and undertake any 
other activity described under such 
subparagraph. 
(C) DISTRIBUTION OF NATIONAL CENTER 
FUNDS TO LOCAL COOPERATIVE DEVELOPMENT 
CENTERS.— 
(i) IN GENERAL.—The national coop-
erative development center shall select, 
through a competitive process, and enter 
into a grant agreement, for a period of no 
more than 3 years, with local cooperative 
development centers to promote, or engage 
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in, cooperative development in accordance 
with this Act. 
(ii) CRITERIA FOR SELECTION.—The 
national cooperative development center 
shall, in consultation with the Secretary, 
establish the criteria for selecting the local 
cooperative development centers under 
clause (i), taking into account the consid-
erations under clause (iii). 
(iii) CONSIDERATIONS.—In selecting 
local 
cooperative 
development 
centers 
under clause (ii), the national cooperative 
development center shall take into consid-
eration the following: 
(I) The technical capacity to 
carry out eligible projects. 
(II) The ability to deliver tech-
nical assistance in underserved areas. 
(III) The capacity and commit-
ment to offering cooperative develop-
ment in underserved areas. 
(IV) The ability to come up with 
the expected matching funding of not 
less than 15 percent of national funds 
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received by the local cooperative devel-
opment center. 
(V) The presence of eligible 
projects. 
(VI) The track record in devel-
oping successful cooperative organiza-
tions. 
(VII) The degree of community 
engagement and support. 
(VIII) The ability to have a posi-
tive economic impact on an area 
through job creation or retention, af-
fordable housing creation, or wealth 
creation. 
(IX) Such other qualities as the 
national cooperative development cen-
ter may determine. 
(D) MULTI-YEAR FUNDING PERMITTED.— 
The national cooperative development center 
may award national center funds to a local co-
operative development center for more than 1 
fiscal year. 
(E) VIOLATION OF GRANT AGREEMENT.— 
If the national cooperative development center 
determines that an entity awarded grant funds 
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under National Cooperative Development Pro-
gram has not met the performance targets es-
tablished pursuant to section 4(d), is not mak-
ing reasonable progress toward meeting such 
measures, or is otherwise in violation of the 
grant agreement, the national center may— 
(i) withhold financial assistance until 
the performance measures are met; or 
(ii) terminate the grant agreement es-
tablished under section 5(a)(2)(C)(i). 
(b) ESTABLISHMENT OF NEW LOCAL COOPERATIVE 
DEVELOPMENT CENTERS.— 
(1) IN GENERAL.—The national cooperative de-
velopment center may establish up to 3 local cooper-
ative development centers in each fiscal year. 
(2) SELECTION CRITERIA.—The national coop-
erative development center shall establish the criteria 
for the selection of organizations that form the local 
cooperative development centers established under 
subparagraph (1). 
(3) LOCATION.—In addition to the criteria es-
tablished pursuant to subparagraph (2), a local co-
operative development center established under sub-
paragraph (1) shall be located in a region of the 
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United States or economic sector where no other 
local cooperative development centers are located. 
(4) LIMITATIONS ON FUNDING.—A local cooper-
ative development center established under subpara-
graph (1) may be awarded national center funds for 
no more than 3 years. After the expiration of such 
3-year period, in order to be eligible for a grant 
under the National Cooperative Development Pro-
gram, such local center would be required to com-
pete for such funds in accordance with subsection 
(a)(2)(C). 
SEC. 6. LOCAL COOPERATIVE DEVELOPMENT CENTERS. 
(a) USE OF FUNDS BY LOCAL COOPERATIVE DEVEL-
OPMENT CENTERS.—A local cooperative development cen-
ter selected under section 5(a)(2)(C)(i) may use national 
center funds to undertake activities that promote coopera-
tive development. 
(b) AVAILABILITY OF FUNDS.— 
(1) IN GENERAL.—A local cooperative develop-
ment center awarded national center funds shall— 
(A) obligate any such funds not later than 
3 years after the date on which the such funds 
were awarded to such local center; and 
(B) expend any such funds not later than 
4 years after such date. 
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(2) UNOBLIGATED AMOUNTS.—If national cen-
ter funds awarded to a local cooperative development 
center are not obligated by the period described in 
paragraph (1)(A), the national cooperative develop-
ment center may rescind and award such funds to 
another local cooperative development center in ac-
cordance with this Act. 
(3) REPORT.—Not later than 1 year after re-
ceiving national center funds, and annually there-
after, a local cooperative development center selected 
under section 5(a)(2)(C)(i) or established under sec-
tion 5(b) shall submit to the national cooperative de-
velopment center a report that includes— 
(A) the total amount of grant funds that 
have been expended; 
(B) a description of the activities under-
taken by such local center; 
(C) an evaluation of each project funded 
with national center funds; 
(D) an assessment of the economic impact 
of the projects funded with national center 
funds; and 
(E) other information as the Secretary or 
the national cooperative development center 
may require. 
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SEC. 7. REPORT TO CONGRESS. 
Not later than 3 years after the date of the enact-
ment of this Act, and annually thereafter, the Secretary, 
in collaboration with the national cooperative development 
center, shall submit to Congress a report includes— 
(1) information on the number of cooperatives 
created; 
(2) best practices from the local cooperative de-
velopment centers that are awarded national center 
funds and the economic benefits to the local commu-
nity in which such center serves resulting from such 
use of funds; 
(3) an evaluation of performance targets estab-
lished pursuant to section 4(d); 
(4) case studies featuring select cooperative or-
ganizations that benefitted from the National Coop-
erative Development Program; and 
(5) any additional information, including statis-
tics, that would help promote future cooperative de-
velopment. 
SEC. 8. REGULATIONS. 
Not later than 180 days after the date of the enact-
ment of this Act, the Secretary shall issue regulations nec-
essary to carry out its provisions. 
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SEC. 9. AUTHORIZATION OF APPROPRIATIONS. 
There are authorized to be appropriated to the Sec-
retary for the award of grants under the National Cooper-
ative Development Program, to remain available until ex-
pended— 
(1) $25,000,000 for fiscal year 2012; 
(2) $25,000,000 for fiscal year 2013; 
(3) $25,000,000 for fiscal year 2014; 
(4) $25,000,000 for fiscal year 2015; and 
(5) $25,000,000 for fiscal year 2016. 
Æ 
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