From: Nicole Gon [mailto:Nicole.Gon@ePath.org]
Sent: Thursday, October 07, 2004 5:45 PM
To: Comments
Subject: Community Reinvestment -- RIN 3064-AC50
To Whom It May Concern:
As an individual engaged in community development work and a resident
of a low-income area, I implore you to reject proposed changes to the
Community Reinvestment Act. CRA is a vital component of the
redevelopment efforts that are taking place throughout the nation and
these changes harm affordable housing, and community and economic
development, particularly in rural areas. CRA has been a powerful
impetus for community development loans, investments and service that
benefit low- and moderate-income person. With government subsidies
drying up, now is not the time to eliminate regulatory incentives for
private captial to leverage scarce subsidy dollars. The private sector
has a responsibility to invest in communities and the FDIC proposed rule
will diminish the expectation for private investment in communities that
need revitalization. Thank you for the opportunity to comment.
Sincerely,
Nicole Gon
This email was sent by:
Nicole Gon
Community Development Coordinator
PATHVentures
340 N. Madision Avenue
Los Angeles, CA 90004
