#2148114 - 09/29/1703:57 PMBroader regional state-wide area
donnac
Platinum Poster
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?
#2148772 - 10/05/1712:01 PMRe: Broader regional state-wide area Pale Rider
donnac
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.
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.