; (C) agree to implement a project labor agreement; (D) ensure that no less than 40 percent of the monetary value of such loans provide direct benefits, including economic and health benefits, to environmental justice communities; and (E) meet unmet needs in the local banking market. (3) Requirements on who may receive loans The public lending bank shall require, for any project for which the public lending bank extends a loan, that— (A) the recipient does not oppose or resist unionization efforts involving projects utilizing public funds; (B) if the loan is $500,000 or more, as a condition of receiving the loan, the recipient shall ensure that all laborers employed by a nongovernmental entity that enters into a contract for the performance of construction, alteration, or repair work that is facilitated, in whole or in part, by such loan, or a subcontract thereof, are paid wages at rates not less than those prevailing on similar construction, alteration, or repair work in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of title 40, United States Code (commonly referred to as the Davis-Bacon Act ) and with respect to such labor standards, the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267; 5 U.S.C. App.) and section 3145 of title 40, United States Code; (C) if the project with respect to which the loan is being extended has a budget of $35,000,000 or more, all contractors and subcontractors shall implement a project labor agreement that includes— (i) goals for hiring local community members, economically disadvantaged workers, or workers from other underrepresented communities; (ii) an equity plan, including— (I) the impacts of the proposed project on underserved communities, including social and environmental impacts; (II) the overall benefits of the proposed project, if funded, to underserved communities