; (II) a description of how the partnership will design and implement an induction program to support, through not less than the first 2 years of teaching, all new teachers who are prepared by the teacher preparation program in the partnership and who teach in the high-need local educational agency in the partnership, and, to the extent practicable, all new teachers who teach in such high-need local educational agency, in the further development of the new teachers’ teaching skills, including the use of mentors who are trained and compensated by such program for the mentors’ work with new teachers. (d) Use of funds (1) Required uses An eligible partnership that receives a grant under this section shall use the funds to carry out the following: (A) Establish or support a teacher preparation program that— (i) requires participants in the program to complete at least one year of residency at a high-need school in the local educational agency participating in the eligible partnership; (ii) requires participants in the program to teach in a high-need school in such local educational agency for at least 3 years after completing such residency; and (iii) awards a teaching credential, an undergraduate degree, or a Masters degree that meets State requirements for a teaching license or certification upon completion of the program. (B) Establish or support a teacher induction and retention program that provides support and advances the retention of beginning teachers and principals during not less than the first 2 years of participation in such program, which promotes effective teaching and leadership skills and includes— (i) high-quality mentoring; (ii) periodic, structured time for collaboration and classroom observation opportunities with teachers in the same department or field, including mentor teachers, as well as time for information-sharing among teachers, principals, administrators, other appropriate educators, and participating faculty in the partner institution of higher education