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#2148114 - 09/29/17 03:57 PM Broader regional state-wide area
donnac Offline
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Joined: Feb 2003
Posts: 624
I've reviewed the Outlook Live July 2014 webinar handouts that addressed broader regional state-wide area ("BRSA") and have a question.

We make a loan to a borrower to build a new restaurant that will employ 40 people who will all make wages that are low- or moderate-income based on the Bureau of Labor Statistics for that county.The borrower is located in a contiguous state to our branches, but is located at the farthest most point in the contiguous state from our branches.

Is this still considered to be in a BRSA since it's in a contiguous state even though it's quite far from our branches?

Thanks.

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CRA
#2148446 - 10/03/17 04:59 PM Re: Broader regional state-wide area donnac
Pale Rider Offline
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Joined: Aug 2002
Posts: 34,318
under the Lone Star
So the borrower is in another state, how about the new restaurant? Where is it going to be constructed?
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.


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#2148772 - 10/05/17 12:01 PM Re: Broader regional state-wide area Pale Rider
donnac Offline
Platinum Poster
Joined: Feb 2003
Posts: 624
Great question & I need to revise some of the facts.

The borrower's location is very close to our assessment area but is still located is located in a contiguous state.

The restaurant will be located in the same contiguous state to our branches but is located at the farthest most point in the contiguous state from our branches.

Thanks.

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#2148857 - 10/05/17 06:00 PM Re: Broader regional state-wide area donnac
Tennismom Offline
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Tennismom
Joined: Jan 2004
Posts: 778
I was under the impression the broader statewide or regional area reference specifially speaks to community development organizations and programs that operate on a statewide or even multistate basis, not individual borrowers. Whatever way you decide, ensure that you have been responsive to the community development needs in your assessment area.

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