§ 4705. Community partnerships
(a)
Application
An application for assistance may be filed jointly by a community development financial institution and a community partner to carry out a community partnership.
(b)
Application requirements
The Fund shall require a community partnership application—
(1)
to meet the minimum requirements established for community development financial institutions under section
4704
(b) of this title, except that the criteria specified in paragraphs (1) and (2)(A) of section
4704
(b) of this title shall not apply to the community partner;
(c)
Selection criteria
The Fund shall consider a community partnership application based on—
(2)
the extent to which the community partner coapplicant will participate in carrying out the partnership;
(d)
Limitation on distribution of assistance
Assistance provided upon approval of an application under this section shall be distributed only to the community development financial institution coapplicant, and shall not be used to fund any activities carried out directly by the community partner or an affiliate or subsidiary thereof.
(e)
Other requirements and limitations
All other requirements and limitations imposed by this subchapter on a community development financial institution assisted under this subchapter shall apply (in the manner that the Fund determines to be appropriate) to assistance provided to carry out community partnerships. The Fund may establish additional guidelines and restrictions on the use of Federal funds to carry out community partnerships.