I am a complete newbee to the CRA/HMDA world so bare with me on this one....
I have a loan which is to construct a professional building in a mod census tract. The only tenant of the building will be the PACE Center for Girls which is a non profit organization which focuses on quality school based programs for at risk girls. PACE has signed a lease agreement to remain in the space for 5 years. 75% of the girls in the program come from low to moderate income families.
Would this loan still qualify as a community development loan even though as of now, PACE is only contracted to fill the space for 5 years??

You may need to provide more info. For example, is the loan for less than $1 million ? Is your bank only doing the interim construction loan, or does it include a mini-perm or permanet phase as well ? This loan will either be reported as small business or as a community development loan, but I don't think this can be determined without the additional info.

Well unfortunately if it's construction perm (no seperate loan between) you should be reporting it on your LR, which means you can't take CD credit for it. If you were doing one loan for construction (which wouldn't be reportable) and one for perm, you could take the construction loan as a CD loan.

You can take it as "warm and fuzzy" credit, which is a listing of loans that otherwise would have been CD if they weren't reportable. They're not worth as much as a real CD deal in the examiners eyes, but if you're desperate...it's something.

I don't bother with warm and fuzzy credit, but I have a ton of CD deals. If you have nothing, it's one step up from there.

Thanks for your help!!