; (4) describes the short- and long-term community and economic development objectives of the county; (5) identifies the private, public, and nonprofit institutions that are willing and able to assist in carrying out the plan; (6) has been developed in coordination with the regional planning entity for the area in which the county is located (or, if there is no such entity for the area, the Secretary), and using the Comprehensive Economic Development Strategy developed by the Economic Development Administration in coordination with the regional planning entity (or, if there is no such entity, the Secretary); (7) specifies the 5-year period during which the plan is to be in effect; (8) is submitted to the Secretary and the office of economic development of the State in which the county is located, not later than 45 days before the beginning of the 5-year period referred to in paragraph (7); and (9) includes— (A) a binding commitment from the State in which the county is located to provide the county with $10 (from funds not provided by the Federal Government) to carry out the plan for each $85 in funds provided to the county under this Act to carry out the plan; and (B) a binding commitment from the county that the county will, alone or in combination with one or more local units of government in the county, expend a total of $5 (from funds not provided by the Federal Government) for each $85 in funds provided to the county under this Act to carry out the plan. (b) Approval; disapproval (1) Approval The Secretary shall approve a submission that meets the requirements of subsection (a) if— (A) not less than 80 percent of the grants to be provided to the submitter under this Act would be distributed to one or more qualified local units of government through a competitive grant program, and the submitter would retain not more than 20 percent of the grants