We are reviewing a potential new community development loan for the Bank for an existing US post office in a moderate income area which the borrower will own the land/building and lease to the government. Because this is not creating any new job opportunities, stabilizing the neighborhood, or revitalizing, how can we capture credit for this CDL loan?

You probably need to claim one of those, most likely stabilization, and present it in the best possible light. Argue the post office would move out of the census tract...I don't know.....

I am also trying to qualify a loan for new construction of a commercial building in a moderate tract, which is considered a transitional neighborhood. I would classify it as "revitalization". Would having the above information in the loan narrative be sufficient?

I would really like to know what documentation is required for revitalization versus stabilization versus job creation.

Bump

Revitalization and stabilization can be very similar. Simply write up why this building is improving the neighborhood. What is there now, an empty run down trash strewn lot, a derelict building? Do you have before and after pictures?

What if the new building improves the neighborhood, but is more high-end and expensive then the old dumpy house? I have pictures of the dumpy house that is being torn down and a drawing of the new urban-like building, but it may be more of an example of gentrification.

Bump