§12182 — Title 34 Navy | U.S. Code

§12182 Provision of assistance

Title 34 › Subtitle Subtitle I— - Comprehensive Acts › Chapter CHAPTER 121— - VIOLENT CRIME CONTROL AND LAW ENFORCEMENT › Subchapter SUBCHAPTER II— - CRIME PREVENTION › Part Part E— - National Community Economic Partnership › Subpart subpart 1— - community economic partnership investment funds › § 12182

Last updated Apr 6, 2026|Official source

Summary

The Secretary of Health and Human Services can give credit lines that do not have to be repaid to community development corporations. The money is for starting, running, or growing revolving loan funds that pay for projects. Those projects must create businesses and jobs for low-income, unemployed, or underemployed people and help make life better in cities and rural areas. Applications are chosen in a competitive process. To qualify, a group must be a community development corporation, send a plan showing the area’s economy, the kinds of businesses to help, and how people will benefit, show past work and results on similar projects, and have local support (money or other pledges) at least equal to the amount requested. The Secretary can lower that local share to no less than 25 percent under section 12186.

Title 34, §12182

Navy — Source: USLM XML via OLRC

(a)The Secretary of Health and Human Services (referred to in this part as the “Secretary”) may, in accordance with this subpart, provide nonrefundable lines of credit to community development corporations for the establishment, maintenance or expansion of revolving loan funds to be utilized to finance projects intended to provide business and employment opportunities for low-income, unemployed, or underemployed individuals and to improve the quality of life in urban and rural areas.

(b)(1)In providing assistance under subsection (a) of this section, the Secretary shall establish and implement a competitive process for the solicitation and consideration of applications from eligible entities for lines of credit for the capitalization of revolving funds.

(2)To be eligible to receive a line of credit under this subpart an applicant shall—

(A)be a community development corporation;

(B)prepare and submit an application to the Secretary that shall include a strategic investment plan that identifies and describes the economic characteristics of the target area to be served, the types of business to be assisted and the impact of such assistance on low-income, underemployed, and unemployed individuals in the target area;

(C)demonstrate previous experience in the development of low-income housing or community or business development projects in a low-income community and provide a record of achievement with respect to such projects; and

(D)have secured one or more commitments from local sources for contributions (either in cash or in kind, letters of credit or letters of commitment) in an amount that is at least equal to the amount requested in the application submitted under subparagraph (B).

(3)Notwithstanding the provisions of paragraph (2)(D), the Secretary may reduce local contributions to not less than 25 percent of the amount of the line of credit requested by the community development corporation if the Secretary determines such to be appropriate in accordance with section 12186 of this title.

Editorial Notes

Codification Section was formerly classified to section 13822 of Title 42, The Public Health and Welfare, prior to editorial reclassification and renumbering as this section.

§12182 Provision of assistance

Summary

Title 34, §12182

Notes & Related Subsidiaries

Editorial Notes

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