; and (2) an implementation grant to not more than 18 eligible entities (which may include eligible entities that received a planning grant under paragraph (1)) to enable such eligible entities to conduct a demonstration project as described in section 7(b). (b) Duration of grants (1) Planning grants A planning grant awarded under this section shall be for a term of not more than 2 years. (2) Implementation grants An implementation grant awarded under this section shall be for a term of not more than 5 years. (c) Ratable reduction If the amount made available under section 9(a) for a fiscal year is less than the amount authorized under such provision for such fiscal year, the Secretary shall ratably reduce the number of grants awarded under subsection (a). 5. Application Requirements (a) Planning grant An eligible entity that desires a planning grant shall submit an application at such time, in such manner, and containing such information as the Secretaries may reasonably require. Such application shall include— (1) a comprehensive needs assessment, including information about the number and percentage of homeless children and youths enrolled in schools served by, and the socioeconomic and racial demographics of, the local educational agency that is a partner in the eligible entity; (2) a description of how the eligible entity will— (A) conduct sufficient stakeholder outreach within the community, including through public hearings, in order to inform the development of the memorandum of understanding described in subparagraph (B) and the activities carried out through the demonstration project described in subsection (b)(3)(B); (B) develop the memorandum of understanding described in section 7(a)(1); (3) a description of the goals of the demonstration project, which shall include— (A) improving academic achievement and life outcomes for children from low-income families