From: Mark Flynn [mailto:mflynn@wshfc.org]
Sent: Friday, September 17, 2004 2:32 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
The Community Reinvestment Act has provided countless non-profit and
community groups with access to funds to pursue low-income housing and
community development in underserved communities throught out the
country.
Amending the definition of a small bank will eliminate a large source of
funds which has been availabel through CRA to combine with other sources
such as mortgage revenue bonds and low-income housing tax credits to
assure
the development of low-income housing, particularly at a time when the
federal resources to support new development has been drastically
reduced
and/or eliminated. I urge that there be no change to the definition of
large bank and the corresponding reduction in funds available under the
Community Reinvestment Act.
Mark A. Flynn
Director, Compliance and Preservation Division
Washington State Housing Finance Commission
1000 2nd Avenue, Suite 2700
Seattle, WA 98104-1046
(206) 287-4444
1-(800) 767-4663, ext. 444 (in state Washington only)
fax (206) 587-5113
email: mflynn@wshfc.org
