FDIC Federal Register Citations

From: Nancy Larsen [mailto:nancy.wsh@verizon.net]
Sent: Thursday, September 02, 2004 12:29 PM
To: Comments
Subject: Proposed CRA Regulation Changes

I am the Executive Director of a mutual self-help agency that helps low income families build their own homes. We have received several small grants from local banks to help us in the operation of our program. It would be a disservice to local communities if the possibility of these grants were eliminated.

One of our most recent grants gave us funds to produce 100 "Owner Builder Handbooks" for our families These books not only to help them with the building process but also to help with future home maintenance. Another grant is helping us purchase play equipment for a "Tot Lot" area in a new subdivision we are just completing. We have plans to submit another grant to a local bank in order to work hand in hand with a local city to complete a park for a 49 lot subdivision, which our families built out about 3 years ago.

While these are not large grants, they are still funds that would not have been available from any other source. We feel that the Community Reinvestment Act is a critical component to our community's affordable housing and community development solutions. Regulations are driving up the cost of land for our families and the funds we receive from these grants help keep those costs down. We oppose any increase to the threshold of what is considered to be small bank. The proposed FDIC rule would exempt many of our community's critical partners from the effective and productive requirements currently in place. We urge FDIC to withdraw its proposed rule.

Thank you for your consideration.

Nancy Larsen
Whatcom-Skagit Housing
5373 Guide Meridian E105
Bellingham, WA 98226