34 U.S.C. § 12183: Approval of applications

the residents of the target area to be served (as identified under the strategic development plan) would have an income that is less than the median income for the area (as determined by the Secretary); the applicant community development corporation possesses the technical and managerial capability necessary to administer a revolving loan fund and has past experience in the development and management of housing, community and economic development programs; local businesses and financial institutions, as well as with the community the corporation proposes to serve; and local and regional job training programs; incomes that do not exceed the Federal poverty line; or incomes that do not exceed 80 percent of the median income of the area; individuals who are unemployed or underemployed; individuals who are participating or have participated in job training programs authorized under title I of the Workforce Innovation and Opportunity Act [ 29 U.S.C. 3111 et seq.] or the Family Support Act of 1988 ( Public Law 100–485 ); individuals whose jobs may be retained as a result of the provision of financing available under this subpart; or individuals who have historically been underrepresented in the local economy; and a representative cross section of applicants are approved, including large and small community development corporations, urban and rural community development corporations and community development corporations representing diverse populations. with a median income that does not exceed 80 percent of the median for the area (as determined by the Secretary); and with a high rate of unemployment, as determined by the Secretary or in which the population loss is at least 7 percent from April 1, 1980 , to April 1, 1990 , as reported by the Bureau of the Census.