Federal Deposit
Insurance Corporation

Old South Baton Rouge Community Revitalization Corporation

From: Harold T Webb [mailto:hawebb@bellsouth.net]
Sent: Monday, October 18, 2004 11:33 PM
To: Comments
Cc: O'neal Furr
Subject: comments RIn number 3064-AC50

I wish to make comments against the change in regulations which will in effect reduce the number of banks obligated to do business in the inner city neighborhood in which I live. I, along with some of my neighbors have formed the non-profit organization operating as Old South Baton Rouge Community Revitalization Corporation. We build housing for low to moderate income home owners. We have tried to build a 12 house complex and have been thwarted in our efforts by local banks who refuse to allow construction of more than two homes at a time. They are demanding presale of houses which is in the eyes of the buyer a high risk based on past performances of yesteryear practices by others.
Naturally it is the bank's right to lend to whomever but when they refuse to give reason why they refuse the request for construction loans, I think this is an indication of a lack of support of the community. By reducing the number of banks subject to scrutiny, it will reduce poor options to none. We have built four homes all of which sold and to my knowledge all original buyers are still owners. We have never failed to meet financial obligations and find no reason to be treated as we have. This is the first opportunity I have had to air this complaint.

Harold T Webb , President