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#2109706 - 12/05/16 09:01 PM CDL - Water Sewer District/Moderate Income Area
FancyMe Offline
Junior Member
Joined: Dec 2012
Posts: 45
Florida
We are reviewing a potential new community development loan for the Bank for a water sewer district loan request in a MODERATE income census tract area for a local county governmental office. The area is surrounded by 4 moderate income areas, 3 middle income and 1 upper income census tracts).

Loan proceeds are targeted for the refunding the district's outstanding state revolving loan fund and to pay off the issue. Original loan proceeds, now being refinanced, were of a water & sewer system, sewer collection and transmission, treatment and disposal facilities.

Because it is serving a moderate income community and providing funds for the outstanding loans, we are leaning towards counting this loan. Any issues?

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#2109750 - 12/05/16 11:44 PM Re: CDL - Water Sewer District/Moderate Income Area FancyMe
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
If the water district serves all, or more than one of the census tracts, you may have to settle for only a portion of the loan being CD.
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#2110553 - 12/13/16 02:59 PM Re: CDL - Water Sewer District/Moderate Income Area FancyMe
RR Jen Offline
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RR Jen
Joined: May 2003
Posts: 3,759
Running and riding everywhere ...
Id write the whole thing up, focus heavily on your moderate income areas, and see what the individual examiner says.
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